This page is archived news covering the period of July 2020
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Stainless Steel News and Nickel Prices

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Friday, July 31

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $6.23/lb ($13,745/tonne). Indicators at 7:10 am CST today show nickel trading around $.02/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday, and started the final day of July just over the 235,200 tonne level. The US Dollar is higher against the Euro today, but had one of its worst months in nearly a decade. With base metals trading higher on a stronger Euro, this, along with Elon Musk, helped nickel trade positive in July. Musk's call for more nickel, during a period when nickel supply is in surplus, encouraged traders as well. MEPS is forecasting stainless steel production will fall to a four year low (see article below).  The U.S. GDP for the second quarter came in at down by 1/3. New unemployment claims  rose for the third  consecutive week.  Treasury yields are down and gold is trading at a record high. Not a lot to cheer a business person in normal times, but, we do not live in normal times. Five months into a worldwide pandemic that has sickened millions and killed over 650,000, the markets are looking forward to better times and a recovering economy. As are we all. It's not only the end of the month, but also the week. Stay safe and enjoy your weekend.
  • Average price of LME traded cash nickel so far this month - $6.04/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper ticks higher on strong China data, weak dollar - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.255/lb
  • SHFE Stainless Steel  Futures -  14,255
  • Vale's Performance in 2Q20 - pdf here
  • Scotia Commodity Price Recovery Continues - more

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Copper slips on rising virus cases, economic worries - Copper prices slipped on Thursday as investor confidence was hit by a resurgence of coronavirus cases and more evidence of the economic impact of the pandemic. - more

      Global stainless steel production set for 4-year low - Global crude stainless steel production is predicted to reach an annual total of 47.2 million tonnes, in 2020. - more

      Taiwan’s Yusco raises stainless steel prices for Aug to reflect costs - Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, announced its new prices for August today (July 30). - more

       Brazil's Vale eyes mine expansions, Samarco restart amid robust Chinese demand - Brazilian iron ore miner Vale SA is sending a proposal this month to the board for further expansion at its Northern System mining complex, and the company expects to restart operations at its Samarco complex in December, executives said on Thursday.  - more

      U.S. economy plunges at titanic 32.9% rate in 2nd quarter and points to drawn-out recovery - An economy badly battered by the coronavirus shrank at a record 32.9% annual pace in the second quarter, underscoring just how big a hole the U.S. finds itself in as it labors to recover from the deepest recession in American history. - more
  • Gross Domestic Product, Second Quarter 2020 (Advance Estimate) and Annual Update - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stanley Black & Decker's Q2 Shows Major Volume Drop - more
  • Lawson Products Q2 Sales Fell 25%, But Are Improving - more
  • U.S. Futures, Europe Stocks Rise; Gold Hits Record: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

Thursday, July 30

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $6.30/lb ($13,885/tonne). Indicators at 6:05 am CST today show nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just under the 234,800 tonne level. Nickel is falling into a pattern where it is lower in the morning and ends higher for the day. This tends to make us believe some of the new risk appetite is coming from the U.S., and considering it is was an American who made the plea for nickel, this would make sense. Nickel's overall trend remains positive, and is trading around where it was in mid January - before covid-19 was getting any media attention. So considering the stainless steel industry is in far worse shape than it was in January, and nickel production remains in surplus, the price of nickel appears to be far more speculation, than following any fundamentals. But that really shouldn't be a surprise to any familiar with the industry. Two changes on our news page to note. The link to the Reuters Daily Inside Metals report has been removed, but will return should Reuters start publishing it again. The report is published out of their India office, which is getting hammered with covid right now, so it is possible the break in publishing is temporary. We have also moved the covid information to the bottom of the news page. While the nickel and stainless industries are being held hostage by this pandemic, and while it remains newsworthy, it no longer deserves a featured position on our page. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.03/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper slips on rising virus cases, economic worries - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2554/lb
  • SHFE Stainless Steel  Futures -  13,970
  • Advance U.S. International Trade in Goods - pdf here
  • Advance Monthly Wholesale Inventories - pdf here
  • Advance Monthly Retail Inventories - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Wednesday's market review - Copper prices steady ahead of Fed policy decision - Copper held near two-year highs on Wednesday as the dollar weakened on the prospect of more stimulus from the U.S. Federal Reserve while factory data in top consumer China cast doubts on prospects of a speedy economic recovery. - more

      Metals prices set for 'super-cycle' says Adriatic CEO: analysts see - Metals are set for a new super-cycle, with prices to rise for the next four to five years on government post-pandemic stimulus, and silver set to be the star performer, Paul Cronin, CEO of base and precious metals mine developer Adriatic Metals told S&P Global Platts July 29. - more

      Former minister Rudiantara appointed commissioner for nickel miner Vale - Seasoned telecommunications player Rudiantara has been appointed deputy president commissioner and independent commissioner of top nickel miner PT Vale Indonesia. - more

      Nickel Monthly News For The Month Of July 2020 - Nickel spot prices were higher in July, and the LME inventory was about the same as last month. - more

      Russia's Nornickel draws up ecological targets for bosses after Arctic fuel spill - Russian nickel and palladium producer Norilsk Nickel will impose ecological targets for its management team after a massive Arctic fuel spill, it said on Wednesday. - more

      Indonesian Labor Unions Protest Import of Chinese Workers -  Indonesia’s decision to bring in hundreds of Chinese workers for multi-billion dollar nickel and stainless steel projects amid the coronavirus pandemic has drawn the ire of local workers, with a national labor union calling for their repatriation to save domestic jobs. - more

      Why is Clive Palmer trying to tear down WA's coronavirus border with the rest of Australia? - Queensland mining magnate Clive Palmer's challenge to WA's hard border is making headlines again this week as the case is heard in the Federal Court. - more

  • Can nothing keep a bad man down? Virulent Mr Palmer just keeps on coming - more

      Distributor Pandemic Index Remains in Holding Pattern - The index shows a sense of stability after a volatile April and May, but it's far from where distributors would prefer. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Merchandise Trade Gap Narrows for First Time in Four Months - more
  • European Stocks, Futures Dip as Earnings Roll In: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

Wednesday, July 29

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $6.22/lb ($13,705/tonne). Indicators at 6:15 am CST today show nickel trading around $.03/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today, just under the 235,200 tonne level. Nickel ended yesterday pretty much were it started, while today is seeing nickel trading higher, but not quite back to Friday's close. The US Dollar resumed its slump today, which is helping support base metals. Markit released its PMI manufacturing numbers today, and they show the U.S. and Europe moved back into growth, while China strengthened. Overall, although many countries are starting from a deep hole the pandemic threw them in, the numbers look promising (numbers here). It's hump day! Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.02/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper steadies ahead of Fed policy decision - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2554/lb
  • SHFE Stainless Steel  Futures -  13,830
  • Conference Board Consumer Confidence Index Decreased in July - more
  • Merafe Production report for the last six months - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

We had a pan denier tell us yesterday that more Americans die from food poisoning each year, than have died from covid-19. People who make these kind of statements generally do not concern themselves with reality, but in case our readers do, here are some numbers to mull over. The CDC estimates 3,000 Americans die a year from food borne illnesses (source), the National Safety Council estimates 38,800 Americans died in car crashes last year (source), the CDC estimates 34,200 Americans died from the 'flu' in the 2018-2019 flu season (source), and in 2018, the CDC reported 48,344 Americans committed suicide in 2018 (source). Combined, those annual totals do not come close to the 150,000+ Americans who have died from covid-19 - in just the last five months.


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Tuesday's market review - Copper rises as stockpiles fall and industrial activity rebounds - Copper prices rose on Tuesday as stockpiles in London Metal Exchange warehouses dwindled and positive industrial data and government stimulus pointed to rising demand. - more

      China’s stainless steel imports up, exports down in Jun m-o-m - According to data from China Customs, China imported a total of 179,000 tons of stainless steel in June, up by 36.93% compared to the previous month.  - more

      Russia's En+ adds to calls for Nornickel management overhaul after spill - Russia’s En+ Group said on Tuesday it backed a call to overhaul the management of Norilsk Nickel (Nornickel) after a major fuel spill in the Arctic at one of the nickel and palladium producer’s plants. - more

      Sudbury's iconic Superstack operational no more - Vale’s iconic Superstack in Sudbury has been decommissioned. In a July 28 statement, the nickel producer said the stack at its Copper Cliff Complex was taken out of service earlier this month during a planned maintenance period. - more

      Paris keeps eye on New Caledonia's Vale plant - The French government says it is closely watching the nickel plant sale process in New Caledonia where Vale of Brazil is in negotiations with New Century Resources of Australia to cede its 95 percent stake. - more

      Does Australia need China more than the other way round? - At the tipping point of China-Australia relations towards a new Cold War after Australia's push for an inquiry into the origins of the COVID-19 pandemic, Australian Prime Minister Scott Morrison says the nation's trade relationship with China is at an all-time high. - more

      Canada Nickel launches NetZero Metals to develop zero carbon nickel, cobalt  - Canada Nickel Company has launched a subsidiary, NetZero Metals, to produce zero-carbon nickel, cobalt and iron products from the company's Crawford nickel-cobalt sulfide project near Timmins, Ontario. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Barnes Group Q2 Sales Fall 37% Year-Over-Year - more
  • Stocks Fluctuate Before Fed Decision; Dollar Dips: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Tuesday, July 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $6.23/lb ($13,725/tonne). Indicators at 6:10 am CST today show nickel trading around $.08/lb  lower. Stockpiles of nickel stored in LME licensed warehouses slipped on Monday and started today just under the 234,900 tonne level. Cancelled warrants moved into the 24% range (barely) on the 9th and have recorded in that range since. The commodity board was nearly all red this morning when we checked, with base and precious metals down as well. Not finding anything one thing to account for this sudden souring. In the U.S., the Republicans have finished negotiating with the President over another round of stimulus, and they are now negotiating with the Democrats on the same. On the flip side, the U.S. still leads the world in covid-19 new cases and total fatalities. New outbreaks around the world, including China, compounded with those countries who have yet to get any type of control on their 'waves', remind us that until we get immunized against this devil, it remains ever present - and a drain on world economies. It's been a week since Elon Musk made a call for nickel, and this week, we are seeing the P.R. campaigns to woe him begin. It would be curious to see if his call helped draw any 'new' money into nickel, or if the same players are driving the traded price of nickel higher. Taiwan is warning users that the price of stainless may increase in August, while in the U.S., stainless steel surcharges tell us the same  is likely (surcharges). It's Tuesday, and including today, there are four working days left in July. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.02/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper advances as investors eye U.S. stimulus package - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2556.lb
  • SHFE Stainless Steel  Futures -  13,820
  • ITA Monthly Steel Factsheet - pdf here
  • Durable Goods  Shipments and Orders - pdf here
  • NABE July 2020 Business Conditions Survey - pdf here
  • GDPNow model estimate for real GDP growth in the second quarter is -34.3 percent on July 27 - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Monday's market review - Copper firm on demand recovery expectations, weaker dollar - Copper prices ticked up on Monday, driven by a weaker dollar and expectations of a global demand recovery, but uncertainty about consumption in top consumer China capped gains. - more

      Canadian miner answers Elon Musk's plea for sustainable nickel - A tiny Canadian company is taking Elon Musk up on his offer to efficiently mine nickel, betting it can be done carbon free. - more
  • Column: Elon Musk should invest in Sudbury - more
      Sale process of Vale in New Caledonia extended - Negotiations for a sale of New Caledonia's Vale nickel plant have been extended by a month and a half. - more

      Clarifications on Phoenix project accumulate - More than a month ago, the Constitutional Court (CC) ordered the suspension of operations of the Fénix mining project, in El Estor, Izabal.  - translated article here

  • Contentious Guatemala nickel mine ‘ignores coronavirus lockdown’ - more
      US steel businesses struggle as Covid-19 cases rise - Many US steel businesses are struggling to survive in the current climate. - more

      Steel Imports Down 21% Year-to-Date Through June - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 1,391,000 net tons (NT) of steel in June 2020, including 1,310,000 net tons (NT) of finished steel (down 23.0% and down 12.7%, respectively, vs. May final data).  - more

      Courtesy AISI - In the week ending on July 25, 2020, domestic raw steel production was 1,320,000 net tons while the capability utilization rate was 58.9 percent. Production was 1,847,000 net tons in the week ending July 25, 2019 while the capability utilization then was 79.4 percent. The current week production represents a 28.5 percent decrease from the same period in the previous year. Production for the week ending July 25, 2020 is up 1.1 percent from the previous week ending July 18, 2020 when production was 1,306,000 net tons and the rate of capability utilization was 58.3 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Erase Gain as Gold Rally Cools Below $2,000: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Monday, July 27

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $6.19/lb ($13,640/tonne). Indicators at 6:15 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and started the week just shy of the 235,000 tonne level. Nickel is slightly lower this morning, but continues to drift sideways, as it did Friday. While there is negative pressure on the market, ie the pandemic and China-U.S. tension ratcheting up again, there is also a falling Dollar that adds positive momentum to base metals in general. And while at the same time that equity traders are pushing their markets to near record highs, the economic uncertainty that is keeping base metals in check, has pushed safe haven gold to a record high. We are trying to back on the covid news, and went all last week only referring to it as a side note. None of our readers have complained of the deep coverage we were giving. But while it is a huge factor on the economies, and thus, demand for nickel and stainless steel, there comes a point when we are concerned our readers sill suffer from covid fatigue. So, while we make no promises we won't discuss it more in the future, the politification of the pandemic in the United States, has made hearing about it as fun as hearing another political campaign commercial. In the old adage, kicking a dog while it's down, environmentalist are piling it on Norilsk. Indonesia is reminding all those companies that poured into that country why making money while producing nickel is not the government's concern. And the union of Eramet nickel workers in New Caledonia, apparently continues to produce more noise than nickel. Well at least the week is starting out a little more interesting than most weeks this summer have been. It's the start of the last week of July. Stay safe out there and have a wonderful week!
  • Average price of LME traded cash nickel so far this month - $6.01/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper advances as investors eye U.S. stimulus bill - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2586/lb
  • SHFE Stainless Steel  Futures -  13,810
  • U.S. Imports For Consumption of Steel Products - pdf here
  • US Exports of Stainless Steel Mill Products - more
  • US Imports of Stainless Steel Mill Products - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Friday's market review - U.S.-China tensions drive copper towards first weekly loss since May - A deepening U.S.-China confrontation put copper on track for its first weekly loss since mid-May, but analysts expect recovering demand and low stocks to keep prices high. - more

      ‘No compromise on nickel ban’: Ministry puts foot down on nickel price floor - The government has threatened to sanction nickel businesses that fail to comply with nickel ore pricing regulations and, therefore, pose a risk to the country’s plan to develop its downstream mining industry. - more

      Column: Tesla boss Musk's desire for more nickel could be a non-starter: Andy Home - Elon Musk faces something of a reality check after his call this week for more nickel mines to feed the batteries that Tesla and other car makers need to power their electric vehicles. - more

      China's CRC steel demand to remain subdued in H2 on weak car sales forecast: traders -  China's passenger vehicle market will remain challenging in the second half of 2020, despite showing some signs of improvement from H1, a key industry association forecast this week, which steel market sources said meant demand for cold rolled coil was unlikely to see any substantial increase before year end. - more

      Vale sale fuels New Caledonia controversy - The war of words in New Caledonia over the planned sale of the Vale nickel company has intensified. - more
  • Caledonian Union hits out at France - more
      More pollution from Nornickel, Kola peninsula covered by smog - Kilometers and kilometers of fragile taiga nature west of the smelters for nickel and copper in Monchegorsk was Friday covered by smog containing sulfur dioxide and heavy metals. - more

      Thyssenkrupp will fall apart without steel, says Deputy Chairman - Thyssenkrupp should stay in the steel industry, its deputy supervisory board chairman said, in a challenge to the broader management view that no option has been ruled out for a division under pressure from weak demand. - more

      Fastener World Stainless Steels - There are hundreds of different types, or alloys, that make up stainless steels.  Each  is  developed  to  produce  its  own  unique  properties. - pdf here

      Lessons from the past: Informing the mining industry’s trajectory to the next normal - The COVID-19 crisis is, in many ways, unprecedented. While governments, industries, and the wider society are working together to understand and address the challenges caused by the crisis to support patients, their families, and communities, the search is on for treatments and a vaccine. - more

      COVID Buyer's Club - The latest purchasing data is showing growth in key areas, including MRO, electronic components and more. - more

  • Nearly Half Say Job Lost to Virus Won't Return - more
  • McMaster-Carr Planning Major HQ Expansion - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Gold Pierces Record as Dollar Sinks; Stocks Mixed: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Friday, July 24

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $6.20/lb ($13,670/tonne). Indicators at 7:00 am CST today show nickel trading around $.09/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today just over the 234,600 tonne level. We rarely try to explain why the market is moving in one direction or the other on a daily basis. Yesterday, however, can be blamed on Elon Musk. And apparently traders realized overnight, with the market in surplus, his begging for more nickel to be mined, was less about filling a perceived need, and more about bringing down the trading price. While there are probably a whole bunch of fellow nickel consumers out there that share his sentiment, those who have been buying nickel over many years, would likely prefer more stability in the cost. With nickel trading at $6/lb, the current trading price, in our opinion, is more than fair, especially in light of the global pandemic driving the world into another recession. Those of you who trade nickel miners, know who is and who is not making money at current prices. It would seem, on the face of things, the most likely way for Mr Musk to get any control over his nickel cost, would be for him to buy or build his own mine. If he can bring some stability to the industry, we wish him well. It's the weekend and we wish all of you well ... as well. Stay safe and have a wonderful day.
  • Average price of LME traded cash nickel so far this month - $6.00/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper set for first weekly loss in 11 weeks on U.S.-China tensions - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2588/lb
  • SHFE Stainless Steel  Futures -  13,755
  • China June 2020 EV Sales - more
  • BEA Direct Investment by Country and Industry - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Copper rises as stockpiles dwindle and the dollar weakens - Copper prices rose on Thursday as available stockpiles in London Metal Exchange (LME) warehouses tumbled and a spike in the cost of metal for immediate delivery pointed to a tightening market. - more

       June 2020 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.3 million tonnes (Mt) in June 2020, a 7.0% decrease compared to June 2019. - more

      China's stainless steel products exports to US rise by 20% in May - China's domestic exports of stainless steel to the US have fallen every year since the tariffs were imposed on China. - more

      Vale sale in New Caledonia may face delay - The plan for New Caledonia's Vale nickel company to be taken over by New Century Resources of Australia appears to be facing delays. - more

      Global steel prices moving up, price push coming from China - Global steel prices are moving up. Amid the subdued demand growth from construction, infra, mechanical and metal sectors and automobile, the push in prices comes from China. - more

      Grainger Q2 Sales Dip 2%; Non-Pandemic Categories Recovering - The MRO products giant's non-pandemic sales were still in the red through mid-July, but have improved each month since April. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Drift on U.S.-China Worries; Dollar Drops: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Thursday, July 23

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $6.02/lb ($13,265/tonne). Indicators at 6:20 am CST today show nickel trading around $.12/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly and started the day just over the 235,100 tonne level. Tesla owner Elon Musk begged miners to mine more nickel and bring the price down in an earnings call, promising to award a huge contract to a miner who will "mine nickel efficiently and in an environmentally sensitive way". Apparently Mr Musk, who recently put two astronauts on the space station, is learning that controlling the price of nickel is more difficult than mastering space flight. Industry leaders must be scratching their heads this morning on why anyone but a newby would think $6lb is high. And in response, traders have pushed the price even higher as if to say "welcome to nickel". Over the years, we have seen many major shifts in the industry. Will Elon Musk be able to pull off another one? Time will tell. And while we joke at his expense (he is super rich and can afford it), we also have learned not to take him lightly. If challenged, he has proven he can overcome obstacles that get in his path. Remember back when miners used to discard rocks that contained lower contents of nickel? The guys that brought you gunpowder figured out a way to make that profitable. So can this guy figure out a way to control nickel prices without becoming a miner himself? Who is to say but Tesla turned a profit last quarter .... and there aren't a whole lot of companies out there that pulled that off. In other news, Australian fugitive Clive Mensink wants Australia to forgive and forget and drop contempt charges against him. The nephew of Clive Palmer, fled the nation back in 2016, instead of answering questions about the collapse of Queensland Nickel, a company he directed at the time. Busy news day. Stay safe and have a great day!!
  • Average price of LME traded cash nickel so far this month - $6.00/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper declines as escalating Sino-U.S. tensions weigh - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2601/lb
  • SHFE Stainless Steel  Futures - 
  • U.S. Imports of Stainless Steel Mill Products - more
  • Distributors Link Sumer 2020 - online here
  • NAB China Economic Update: July 2020 - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Wednesday's market review - Copper slides on profit-taking, focus on demand outside China - Copper prices fell on Wednesday as a stronger dollar triggered profit-taking and markets waited to see how consumption will hold up outside China, where robust demand due to stimulus fueled the recent rally. - more

      'Please mine more nickel,' Musk urges as Tesla boosts production - Tesla Inc (TSLA.O) boss Elon Musk urged miners to produce more nickel, a key ingredient in the batteries that power the company’s electric cars, warning the current cost of batteries remained a big hurdle to the company’s growth. - more

  • Musk Promises ‘Giant Contract’ for Efficiently Mined Nickel - more

      WBMS Press Release July 2020 - The nickel market was in surplus during January to May 2020 with production exceeding apparent demand by 33.3 kt. In the whole of 2019, the calculated deficit was 29.1 kt. - more

      Indonesia's Antam ferronickel quarterly sales up nearly 14% - Indonesia state miner PT Aneka Tambang (Antam) produced ferronickel containing 6,447 tonnes of nickel in the second quarter and sold ferronickel containing 6,867 tonnes of nickel, the company said in a statement on Wednesday. - more

      Hot Rolled Flat Products of Stainless Steel 304 series originating or exported from China PR, Korea RP and Malaysia - more

      Former Queensland Nickel director Clive Mensink pushes for arrest warrants to be withdrawn - Lawyers for Clive Palmer's nephew, businessman Clive Mensink, are pushing to have his 2017 arrest warrants withdrawn. - more

      Back to Basics: How Distributors Can Navigate COVID Fallout - A once-in-a-generation health crisis doesn’t have to put your business on life support. Instead, it may be exposing hidden faults and failures. - more

  • Distributor Pandemic Index Improves, But Still in Red - more

   Other News

  • Reuters The Day Ahead - pdf here
  • US Steel to restart Gary Works blast furnace in August - more
  • Futures Climb With Stocks Amid Pickup in Earnings: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Wednesday, July 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $6.06/lb ($13,367/tonne). Indicators at 6:15 am CST today show nickel trading around $.04/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Tuesday and started today still under the 235,200 tonne level. Little more news today, thanks to Vale and BHP issuing production reports for investors. The U.S. Dollar continues to trade near yearly lows, which is boosting the value of base metals. Even precious metals are benefiting, with gold and silver trading at multi year highs. Jeroen Blokland, senior portfolio manager at Robeco Asset Management, told Marketwatch "We remain overweight commodities as the outlook for both industrial and precious metals looks bright." Besides the pandemic dragging on future economic outlooks, the rhetoric between China and the Trump administration keeps ratcheting up. Each day the news appears to show the tiff is escalating, and today's announcement that the U.S. has ordered the Chinese consultant general in Houston closed, shows nothing  changed overnight. Stay safe and have a great hump day.
  • Average price of LME traded cash nickel so far this month - $6.00/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises as weaker dollar attracts buyers, EU approves stimulus - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2570/lb
  • SHFE Stainless Steel  Futures -  13,615
  • Manufacturing Outlook for July 2020 - online here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Tuesday's market review - Copper gains on EU stimulus deal and coronavirus vaccine hopes - Copper prices climbed on investor hopes for a recovery in metals demand and the global economy after European Union leaders agreed a massive stimulus plan and positive news emerged about a coronavirus vaccine trial. - more

      South Korea extends AD duties on Japanese stainless steel plates for second time - It was reported that on July 14, 2020, the Ministry of Strategy and Finance (MOSF) of South Korea announced to extend the anti-dumping duties on imported stainless steel plates originating in Japan for the second time, with a validity period of three years. - more

      Vale's Q2 Iron Production Up 5.5% Despite Coronavirus Impact - Vale latest report reveals that production increased year over year for iron-ore, nickel and cobalt in second-quarter 2020. - more

      BHP Operational Review for the year ended 30 June 2020 - pdf here

      Russian mayor charged over Arctic fuel spill resigns - Norilsk Mayor Rinat Akhmetchin charged with negligence last month over massive fuel spill resigns - more

      Steel market’s views on COVID-19 evolve - Conditions in the steel sector are decidedly mixed, with demand surprisingly strong in some end-use markets and some regions of the country, yet disastrously weak in others. - more

      ISM Survey Shows Major Blow to Most Firms' Revenue Goals - ISM's third round of research on COVID-19 impacts found that 61% of May business respondents cut revenue goals by an average of 35%. - more

  • Poll: Pandemic Hurting Americans' Finances in Disparate Ways - more
      Courtesy AISI - In the week ending on July 18, 2020, domestic raw steel production was 1,306,000 net tons while the capability utilization rate was 58.3 percent. Production was 1,847,000 net tons in the week ending July 18, 2019 while the capability utilization then was 79.4 percent. The current week production represents a 29.3 percent decrease from the same period in the previous year. Production for the week ending July 18, 2020 is up 1.3 percent from the previous week ending July 11, 2020 when production was 1,289,000 net tons and the rate of capability utilization was 57.5 percent. - more
  • Trade law enforcement key to US steel recovery: AISI CEO - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks, Futures Drop on Rising U.S.-China Tension: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Tuesday, July 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $5.98/lb   ($13,180/tonne). Indicators at 6:10 am CST today show nickel trading around $.09/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and started today's session just under the 235,200 tonne level. Nickel, as well as other London traded base metals, are trading higher this morning, thanks to a historic economic stimulus agreement made in Europe overnight, and more good news in the search for a covid-19 vaccine. The Euro is trading higher and this is helping boost commodity speculation. Technical indicators for nickel are nearly all pointing to the buy side. Nickel did little on Monday, closing about where they did Friday. But traders have resumed their buying trend today, and we will have to wait to see where this spree ends. Industry news remains nearly non existent. This isn't unusual during July thru September, but with the pandemic storm clouds overhanging everything, this summer had been uniquely quiet. Stay safe out there.... and have a great day!
  • Average price of LME traded cash nickel so far this month - $5.99/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper edges up on EU stimulus deal, coronavirus vaccine hopes - more
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2575/lb
  • SHFE Stainless Steel  Futures -  13,570
  • Fed U.S. Economic Activity - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

COVID-19 and labor markets - more
20 July 2020 Alan Oster Podcast – Coronavirus and the economy - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Monday's market review - Copper steady near two-year high, new coronavirus cases weigh - Copper held steady near a two-year high on Monday, under pressure as new cases of the novel coronavirus threatened to stall any revival in the global economy and in metals demand. - more

      Sumitomo Corp. to report loss in nickel project - Japanese trading firm Sumitomo Corporation says it will report an impairment loss of about 55 billion yen, or roughly 513 million dollars, for its nickel mining and refining project in Madagascar. - more

       Bossard's America Sales Sunk 20% in Q2 - Switzerland-based fastener products distributor Bossard reported its 2020 second quarter financial results on Wednesday, showing that year-over-year sales declined at an accelerated pace compared to Q1, when they were already hampered by weakened industrial demand. - more

       IMF Says US Economy Will Drop 6.6% in 2020 - The International Monetary Fund predicted Friday that the U.S. economy will shrink 6.6% this year, pounded by the coronavirus and the lockdowns meant to contain it. - more

  • May US Cutting Tool Orders Down 36% Year-Over-Year - more
  • Small Engine Maker Briggs & Stratton Files for Chapter 11 Bankruptcy - more
  • Steel market’s views on COVID-19 evolve - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Rally to 4-Month High; Credit Risk Falls: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Monday, July 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $5.98/tonne ($13,185/tonne). Indicators at 6:10 am CST today show nickel trading  unchanged. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started today's session just under the 234,700 tonne level. For the month so far, nickel stockpiles are higher by a little over 800 tonnes, with cancelled warrants in the low 24% range. Starting the week with little industry news. Nickel appears to be looking for support around the $5.94/lb level, as this was the recent low from a few weeks ago. Shanghai nickel traders, following the LME's big drop last Friday, gave up on their bullish run, and their nickel is now trading back where it was on the 3rd. Their reported nickel stockpiles climbed to their highest level since March, adding a big question mark to demand. The Euro is trading higher today, which is offering base metals traders support - albeit little more than morale support so far today. Life has offered each of us another week chock full of opportunities to either succeed, or fall short. But only those who seek out these opportunities will get to truly test their metal. Stay safe and have a great, and successful, week.
  • Average price of LME traded cash nickel so far this month - $6.00/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls as Chinese stockpiles rise, virus fears cap rally - more
  • Reuters Daily Inside Metals - no report filed
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2605/lb
  • SHFE Stainless Steel  Futures -  13,510
  • US Economic Indicators:ATA Truck Tonnage Index - pdf here
  • Australian Mining Review - online here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

Coronavirus research updates: Antiviral antibodies peter out within weeks after infection - more  (interesting to note that this became big news last week - but apparently only after U.S. actor Tom Hanks told NBC's Today show the prior week, that his doctors had told him that he and his wife's antibody levels were already dropping and they might be susceptible to catch covid-19 again)


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Friday's market review - Copper steady but virus fears and U.S.-China friction weigh - Copper hovered near its highest in two years on Friday, supported by supply disruptions, though souring U.S.-China relations and rising coronavirus infections kept gains in check.  - more

      Acerinox's crude stainless steel & net profit drop in Q1 y-o-y - Acerinox, one of the leading producers of stainless steel in Spain and the world, reported its crude stainless steel during the first quarter of 2020 was down by 5% year on year to around 599,900 tons. - more

      A mask provides more protection than a metal fabricator realizes - We’ve entered that phase of the American experience in which the wearing of medical masks in public is an affront to one’s personal liberty. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Americans Take Up New Eating Habits, Forcing Farms to Raze Crops - more
  • Euro Reaches 4-Month High, Stocks Gain on EU Talks: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Friday, July 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $6.10/lb ($13,455/tonne). Indicators at 7:30 am CST today show nickel trading around $.05/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today just under the 234,800 tonne level. Nickel continues to slowly retreat off earlier highs, although there is no rush for the exit, so we would caution against thinking the bull is back in his pen. There is no more reason today, than there was at the beginning of the month, for him to be on the loose, so .....? Lots of news and reports to end the week. Enjoy your weekend and stay safe out there.
  • Average price of LME traded cash nickel so far this month - $5.99/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper retreats on virus fears and U.S.-China friction - more
  • Reuters Daily Inside Metals - no report posted
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2608/lb
  • SHFE Stainless Steel  Futures -  13,570
  • Fed U.S. Economy in a Snapshot - more
  • U.S. Manufacturing & Trade Inventories & Sales - pdf here
  • U.S. Monthly Retail Trade - pdf here
  • FRED U.S, Manufacturing - more
  • FRED Truck Tonnage - more
  • Yardeni Market Briefing:Commodity Prices - pdf here
  • Stainless steels in filtration - pdf here
  • The GDPNow model estimate for real GDP grow thin the 2nd quarter of 2020 is -34.5% - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

Mask mandates catch on as states, businesses try to bypass a toxic debate - more
Georgia Gov. Brian Kemp bans local governments from mandating masks - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Copper bulls drive prices back towards two-year high -  Copper prices rose back towards two-year highs on Thursday after data showed a rise in Chinese factory output, though the numbers also pointed to trouble ahead for the world’s biggest metals consumer. - more

      EU stainless steel cold-rolled quota usage is high, while epidemic may cause future import slowdown - The import of steel products has been subject to the safeguards of the European Commission since 2018. From July 1, 2019 to June 30, 2020, most of the quota for stainless steel hot-rolled flat products was available. - more

      June Purchasing Numbers Soar Despite COVID Uptick - Cortera, in partnership with Moody’s Analytics, uses their COVID-19 Economic Impact Tracker (CEIT) to provide a breakdown of purchasing data from thousands of companies in various sectors of the U.S economy. - more

       Anglo sticks to 2020 output goals after COVID-induced Q2 slump - Global miner Anglo American is ramping up metals and diamond production to hit full-year targets it set in spring, it said on Thursday, as it reported a sharp slump in second quarter output caused by the coronavirus. - more

       Indonesian Students Revive Protest Against Chinese Workers As New Batch Arrives - More than 120 Chinese workers who arrived in an Indonesian island to work on a mining project were escorted from the airport by the armed police and the military after local students unleashed a fresh round of protests against foreign workers. - more

       US$12 billion mining industry on course: President - The target to turn the mining sector into a US$12 billion industry is on course, driven by the companies’ desire to expand, modernise and increase output, President Mnangagwa has said. - more

       Mining output shows slight improvement but declines year on year -  Mining output declined 29.8 percent year on year in May, but there was a slight improvement from the record low of -50.3 percent in April, as most mining activities were curtailed due to level 4 of the national lockdown regulations, Statistics SA (StatsSA) reported yesterday. - more

       Understanding stainless steel formability at the atomic level - Metal fabrication manufacturers select metals to perform a function based on the metal’s physical characteristics. A stainless steel exhaust pipe should resist rusting. - more

       Clive Palmer charged with fraud over alleged dishonest transfers - Mining mogul Clive Palmer has been charged with two counts of breaching directors' duties and two counts of fraud, with the Australian Securities and Investments Commission (ASIC) alleging he dishonestly enriched his own political party. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Fauci bullish on prospects for U.S. vaccine, not worried about China winning race - more
  • China's Q2 GDP growth beats forecasts and recovers to 3.2% - more
  • NAB China’s economy at a glance – July 2020 - pdf here
  • U.S. Equity Futures Rebound While Netflix Tumbles: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Thursday, July 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $6.13/lb ($13,525/tonne). Indicators at 6:10 am CST today show nickel trading around $.11/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today just under the 235,000/tonne level. After staling for a few days, nickel's most recent bullish run appears to be losing some air today. It is starting to look like nickel may have been trying to play catch up to copper, which was on an incredibly bullish run and trading at two year highs, before it also start to fizz out earlier this week. Way too early to say the bull is back in his pen, but for the moment, he has been lassoed. New nickel forecasts posted in an article below (look for the spinning dice). Per our posting on January 29th, the experts forecast $6.95/lb for 2020, while readers who responded to our poll averaged a $6.53/lb guess. The actual average for the first six months of 2020 for LME cash nickel was .... (drum roll please) .... $5.56/lb. And on a side note .... on the 29th of January, when we posted these forecasts for the year, we added there were 6,000 total known cases of covid-19 in the world, with 132 known deaths worldwide. Texas, California, and Florida "each" beat those numbers yesterday, with more cases diagnosed and more deaths during the prior 24 hours. Worldwide, we passed the 13.7 million known cases yesterday, with over 587,000 deaths recorded. It's Thursday and we are closer to next weekend than we are to the last one. Stay safe and have a wonderful day!
  • Average price of LME traded cash nickel so far this month - $5.99/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper extends losses as doubts linger over China economic recovery - more
  • Reuters Daily Inside Metals - no report posted
  • SMM Evening Comments - no report filed
  • Barchart 304 Stainless Steel Scrap Index - $.2408/lb
  • SHFE Stainless Steel  Futures -  13,550
  • Fed Beige Book - pdf here
  • FRED Industrial Production Index - more
  • Vale Tailings Dam Management - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more
  • NAB Minerals & Energy Outlook: July 2020 - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Wednesday's market review - Copper slides in sell-off triggered by U.S.-China tensions - Copper prices slipped on Wednesday as political tensions between the United States and China triggered a flurry of profit-taking after the recent rally ahead of Chinese data that could shed light on demand prospects. - more

      Red-hot copper to lose steam as investors assess hard facts - (excerpt) LME cash nickel is expected to average $13,500 a tonne in the fourth quarter, only marginally weaker from Tuesday’s close of $13,546. - more

      Russia's Nornickel board to discuss Rusal demands this month - The board of Russia’s Norilsk Nickel on Wednesday said it would discuss demands from its major stakeholder Rusal later this month for it to overhaul its environmental policies and change its management after a fuel spill in Siberia. - more

      China's steel exports fall to 7-year low of 3.70 million mt in June - China's finished steel exports in June dropped 15.9% month on month and 30.3% year on year to 3.70 million mt, hitting the lowest level since February 2013, customs data released on July 14 showed. - more

      After Holiday Anomaly, Distributor Pandemic Index Falls Back to Contraction - Following a one-week spike caused by a Fourth of July-week anomaly, the new index more accurately reflects current conditions. - more

      Alloying elements in steel production - Steel is present in almost every industry in the World. Every steel relies on a combination of additives such as ferroalloys.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Trade Activity Falls 14.8% in Q2 Tradeshift Report Reveals - more
  • Good News, China's Growing Again. Just Don't Ask How - more
  • Stocks, Futures Fall; Euro Slips Ahead of ECB: Markets Wrap - more
  • Trump's Rose Garden speech was a warning to China — and American 2020 voters - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Wednesday, July 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $6.16/lb ($13,590/tonne). Indicators at 6:15 am CST today show nickel trading unchanged this morning. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today just under the 234,800 tonne level. Base metals, as a group, are hardly trading this morning, with the US Dollar sinking adding positive momentum, and geopolitical strife between China and the U.S. adding an equal amount of negative pressure. The trend remains bullish, with technicals back to sending a buy signal. Equity trading and futures are higher on reports from biotechnology group Moderna, that their covid-19 vaccine candidate, returned a very "robust" immune system response in preliminary testing, and is entering clinical trials later this month. Appears to be numerous candidates in clinical trials at the moments - let's hope one of them proves effective and safe, and the public reaction is one of confidence when it is released. It's hump day and we are not only half way thru the week, but half way thru the month and some might say, half way thru summer. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $5.98/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper slips on profit taking triggered by U.S.-China tensions - more
  • Reuters Daily Inside Metals - no report filed
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2408/lb
  • SHFE Stainless Steel  Futures -  13,510
  • Market Briefing:Commodity Prices - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

The Virus Is Still Sapping China’s $6 Trillion Power to Consume - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Tuesday's market review - Copper pulls back from two-year peak as market eyes virus risks - Copper prices slipped on Tuesday after a steep rally on worries about rising coronavirus cases and friction between the United States and top metals consumer China. - more

      Stainless Market Report - Fitting Into the New Cycle - The specialty metals industry, like others in the metals supply chain, has endured countless down cycles through its history. - more

       Global molybdenum production and use falls in Q1 - Figures released today by the International Molybdenum Association (IMOA) show that the global production and use of molybdenum fell in Q1 when compared to the previous quarter (Q4 2019). - more

      Russia's Rusal seeks management changes at Nornickel after fuel spill - Russian aluminium giant Rusal said on Tuesday it had requested Norilsk Nickel’s board of directors make management changes, relocate its headquarters to Norilsk in Russia’s Arctic and overhaul its environmental and safety policies. - more
  • Russia’s richest man loses $4.1 billion after major environmental disasters in Siberian Arctic - more
  • Another Awful Arctic Accident By Russian Metals Giant Norilsk Nickel - more

      Counterpoint: When you are losing the mining debate on the facts, attack the law - Perhaps the fear is that, upon rigorous review, the Twin Metals project would be found worthy of proceeding.  - more

  • Minnesota must act to save BWCA - more
      Courtesy AISI - In the week ending on July 11, 2020, domestic raw steel production was 1,289,000 net tons while the capability utilization rate was 57.5 percent. Production was 1,847,000 net tons in the week ending July 11, 2019 while the capability utilization then was 79.4 percent. The current week production represents a 30.2 percent decrease from the same period in the previous year. Production for the week ending July 11, 2020 is up 1.7 percent from the previous week ending July 4, 2020 when production was 1,268,000 net tons and the rate of capability utilization was 56.6 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Fastenal Q2 Sales Jump on PPE Surge While Fasteners Sink - more
  • Small Businesses Worldwide Fight for Survival - more
  • Stocks Rally, While Dollar Slides to One-Month Low: Markets Wrap - more
  • FIFO mine workers labelled ‘soft’ as ‘divorce roster’ debate rages - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Tuesday, July 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $6.22/lb ($13,715/tonne). Indicators at 6:15 am CST today show nickel trading around $.07/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just under the 234,200 tonne level. Nickel climbed again yesterday and has spent most of today's London session, in a slightly declining pattern. The technicals have turned negative today, while moving average signals remain positive. We joked a few weeks ago it was a good day because Norilsk hadn't reported another natural disaster that day. Well, for the third time, the town has experienced a huge leak of fuel. This time it was jet fuel. In the U.S., the Trump administration has apparently come up with a new tactic to protect the American public. Over the weekend, they released a memo listing all the times the Director of the National Institute of Allergy and Infectious Diseases, Anthony Fauci, has been wrong over the past few months. While some of the remarks were taken out of context, and others were based on scientific knowledge at the time, the new strategy should make everyone feel safer, in a time when no one knows exactly what this bug is capable of (see Virus section and news from Britain). We have taken issue with Dr Fauci and the 'no masks are necessary' policy from day one ..... but we also feel that during a pandemic, one should look to science for answers and not politicians. Then again, if you are willing to let your local FedEx driver do open heart surgery on you, you probably do not agree. Good export and import numbers from China are encouraging, while political tensions increases with China announcing sanctions on Lockheed Martin over arms sales to Taiwan. Oh well. One step forward, one step back. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $5.96/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper retreats from 2-year high as U.S.-China tension flares - more
  • Reuters Daily Inside Metals - no report filed today
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2456/lb
  • SHFE Stainless Steel  Futures -  13,510
  • Market Briefing:Commodity Prices - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

Immunity to Covid-19 could be lost in months, UK study suggests - more  (based on prior pandemics, many scientists have been dismissing the idea of reinfections due to the formation of anti-bodies in the body, that typically last a long time. More anecdotal evidence is appearing that this virus may once again be different and if true, the whole immunity process could be turned on its head. The first incident of 'possible' reinfection was reported in China in March, but at the time, the WHO dismissed the incident as improper testing. Now physicians around the world are reporting reinfections within weeks and months and casting doubts on old theories of how long antibodies may last in the body.)


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Monday's market review - Supply angst helps copper scale two-year high - Copper prices reached two-year highs on Monday in a buying frenzy triggered by worries over strikes and supplies from top producer Chile and flooding in China. - more

      London Metal Exchange shines a (little) light on shadow stocks: Andy Home -  The London Metal Exchange’s (LME) new report on “shadow” stocks was greeted with a collective yawn by the industrial metals market. - more

      Stainless steel quota uptake remains high in July - Imports of steel products have been subject to European Commission safeguard measures, since their introduction in 2018. - more

       ISSF: Global stainless crude steel production declines in Q1 2020 y-o-y - According to the statistics released by the International Stainless Steel Forum (ISSF), global stainless crude steel production totaled around 11.69 million tons in the first quarter of this year, declining by about 8% year on year and falling by 5.8% quarter on quarter. - more  (pdf release)

      Russian Severstal's Q2 steel sales fall 7% on quarter, output down 2% - Russian steel company Severstal's Q2 steel sales fell 200,000 mt, or 7%, on the quarter due to a coronavirus-induced steep drop in exports and a milder contraction in domestic sales, despite crude steel output only nudging down 2%, or 40,000 mt, the group said July 13. - more

      Russia's Arctic region sees second fuel leak in just two months as state of emergency declared - Just six weeks following a huge oil spill in the north of Russia, the country has experienced another environmental disaster, after 45 tons of jet fuel leaked from a pipeline in the Krasnoyarsk Region, inside the Arctic Circle. - more

  • Putin signs law requiring firms to be ready for oil spills - more

      May US Manufacturing Technology Orders Were Down 45% YoY - US manufacturing technology orders decreased 5 percent in May from the previous month to $219.4 million, according to the latest US Manufacturing Technology Orders report published by the Association For Manufacturing Technology (AMT). - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Deploying a digital marketing strategy for manufacturers - more
  • European Stocks Extend Global Slump; Futures Climb: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Monday, July 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $6.13/lb ($13,520/tonne). Indicators at 6:20 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday and started this week just over the 234,600 tonne level. SMM and LME traders continue to play cat and mouse, with LME traders not buying into SMM's drop to end last week, and SMM jumping early today in an attempt to catch up to LME's Friday leap. SMM nickel is now trading at its highest since mid January ... as is LME nickel. Since this is about the time there were patchy media reports coming out of China of a new virus, it could be said we are now seeing nickel back at pre-coronavirus levels. Technicals are mixed but the buy signal appears to have the majority. LME closed above another line of resistance on Friday and so far, gives the appearance of doing it again. It was a quiet weekend market wise, and our typically heavy Monday news section looks more like a quiet Thursday. Lot of reports though. In virus news, the US saw a down tick yesterday, with only 58,000+ new cases. That was more than #2 Brazil and #3 India saw combined, and almost more than those two and and #4 Russia. Florida saw more positive cases yesterday, in one day, than South Korea has seen since the outbreak began. Markets are only concerned with how these numbers affect business, and the recent wave of back stepping on reopening plans has sent a chill thru American equity markets. Nickel traders appear to be betting China will lead the way out of this mess. Let's hope someone does. Stay safe and have a wonderful week.
  • Average price of LME traded cash nickel so far this month - $5.94/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Supply angst helps copper scale two-year high - more
  • Reuters Daily Inside Metals - no report filed
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2545/lb
  • SHFE Stainless Steel  Futures -  13,510
  • Producer Price Index by Commodity for Steel Wire, Stainless Steel - more
  • Producer Price Index by Commodity for Steel Pipe and Tube, Stainless Steel - more
  • Producer Price Index by Commodity for Stainless and Other Alloy Steel Scrap - more
  • Producer Price Index by Commodity for Corrugated Paperboard - more
  • Producer Price Index by Industry - Corrugated Shipping Containers - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Friday's market review - Biggest weekly gain since 2018 lifts copper to pre-coronavirus levels - Copper was set for its weekly biggest rise in more than two years on Friday, with prices surging to pre-coronavirus crisis levels as Chinese demand rebounds and speculators turn bullish on the metal. - more

      New Caledonia's SLN fears insolvency - New Caledonia's largest private sector employer, the SLN nickel company, has warned that it risks running out of money by the end of the year. - more

      China’s Tengkai Metal building stainless steel facilities - It was reported that China’s Tengkai Metal has started its building project of stainless steel on March 12, 2020. - more

      May Steel Shipments Down 32.9% From May 2019 - The American Iron and Steel Institute (AISI) reported today that for the month of May 2020, U.S. steel mills shipped 5,461,851 net tons, a 2.9 percent decrease from the 5,623,229 net tons shipped in the previous month, April 2020, and a 32.9 percent decrease from the 8,142,270 net tons shipped in May 2019. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures, Stocks Rise as Earnings Week Kicks Off: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Friday, July 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $5.99/lb ($13,200/tonne). Indicators at 6:50 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Thursday and for a third consecutive day, started the trading  day just under the 234,700 tonne level. Nickel closed lower sharply yesterday. It is possible that some of the recent run has been fueled by nickel following copper, which is benefiting by stronger demand in China, with a covid outbreak affecting supply from the worlds largest supplier, Chile. Nickel, however, is not suffering the supply disruptions, nor are LME inventory numbers reflecting any noticeable increase in demand. That's not to say things aren't getting better in China; they just aren't putting any additional pressure on the supply lines - yet. So, we are having a hard time finding a reason for this last bullish spike. Even China seems to be back peddling as Shanghai nickel closes lower for a second day. Whatever the reasons, if they remain above the $13,000/tonne level we could see more stainless steel price increases in the near future. We made it another week, and it looks like a hot weekend ahead for many of us. Please stay safe, and try to make it a memorable one with the ones you love. That's a good memorable, mind you, one that you can look back on with a smile when we crawl out of this covid nightmare.
  • Average price of LME traded cash nickel so far this month - $5.94/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - no story filed
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2536/lb
  • SHFE Stainless Steel  Futures -  13,510
  • U S Monthly Wholesale Trade - pdf here
  • Metalforming Magazine - July 2020 - online here
  • The GDPNow model estimate for real GDP growth in the 2nd quarter of 2020 is -35.5% on July 9 - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

US Economy Stumbling as Pandemic Worsens - more
Tracking the spread of the novel coronavirus - more
Tracking the novel coronavirus in the U.S. - more

9 July 2020 Alan Oster Podcast – Coronavirus and the economy - more
‘Unknown pneumonia’ deadlier than coronavirus sweeping Kazakhstan, Chinese embassy warns - more

While the US is seeing record high daily new covid cases, it is recording far less fatalities. From a high of 2,255 (7 day average high in April 21), we saw a 7 day average of 625 deaths yesterday. That's the good news. The bad news is that average of 625 is up from 517 on July 6th. The last time we saw the seven day average rise that fast in three days was between April 14 to April 17, when we were seeing the death rate in America peaking. The last three days average?  947 deaths per day.
For perspective.... in 1972, America suffered its worst year of traffic fatalities in history. That year, we averaged 150 deaths a day. Four years prior, Congress had passed a law mandating seat belts be put in all vehicles (except buses). There was no law requiring their use until New York required their use in 1984.
By 2018, the average death toll for car crashes was down to an estimated 100 a day.
Why is "Slow down and buckle up" not political, while "Six feet and mask up" is?


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Copper hits 14-month high on China demand, Chile supply cuts - Copper prices hit their highest in over a year on Thursday, spurred by hopes of a faster recovery in top consumer China and supply concerns in the world’s biggest producer Chile.  - more

      Taiwan's stainless steel prices to increase due to rising nickel price - Stimulated by high nickel prices, Taiwanese stainless steel distributors increased their quotations these days. - more

      Trading volumes show a metals world that is out of synch: Andy Home - It’s been a good couple of months for the Shanghai Futures Exchange . - more

      London Metal Exchange begins push for transparency on metal inventories - The London Metal Exchange on Thursday started its push for more transparency on metal availability by publishing, for the first time, stocks of metal in its global storage network that could be put on warrant and traded on the exchange. - more

      China boosts metal scrap imports after policy change - BIR - China's Solid Waste & Chemicals Management Centre, part of the Ministry of Ecology and Environment of the People's Republic of China, has published details of its ninth batch of scrap import quotas for 2020, which allows for considerably higher import quantities than in recent months, following a policy change, according to an International Recycling Bureau BIR report July 9. - more
  • China's June refined nickel output rises 10.8% year on year: Antaike - more
      Russia's Nornickel fights cover-up accusations over Arctic oil spill - Pressure is mounting on Russian mining company Norilsk Nickel over an Arctic oil spill that has wiped about 17% off its share price, left it with a hefty compensation bill and exposed it to accusations of covering up the full extent of the damage. - more

      Chinese nickel company promises to hire 5,000 locals amid backlash - Chinese-backed mining company PT Virtue Dragon Nickel Industry (VDNI) has promised to hire 5,000 locals amid protests over the employment of 500 Chinese workers for nickel smelter projects in Konawe regency, Southeast Sulawesi. - more

      ESG and mining: sustainability after coronavirus - As the world battles the coronavirus pandemic and resulting economic fallout, industries of all types face the urgent challenge of securing their short-term financial future. - more

      AISI Releases June SIMA Imports Data - Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of June totaled 2,003,000 net tons (NT). - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Markets: Stocks succumb to shutdown fears but China charges on - more
  • U.S. Futures Slide on Virus Spike; Treasuries Jump: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Thursday, July 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $6.12/lb   ($13,495/tonne). Indicators at 6:00 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel stored in LME licensed warehouses gained slightly yesterday and for a second day, started today just under the 234,700 tonne level. Nickel is trading over the $13,500 tonne level this morning, for the first time since late January.  Depending on what source you follow, the world rolled over the 12 million mark and the U.S. the 3 million mark in confirmed covid-19 cases. The U.S. also saw its first 60,0000 new cases yesterday, with the 7 day average of daily deaths, turning higher this week. Otherwise a slow news day. Have a safe and great Thursday!
  • Average price of LME traded cash nickel so far this month - $5.92/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - (no story filed)
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.275/lb
  • SHFE Stainless Steel  Futures -  13,510
  • U.S. Imports of Stainless Steel Mill Products - more
  • Fed U.S. Economic Activity - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Wednesday's market review - Copper punches towards January peak, boosted by Chile fears - Copper raced to its highest levels since January on Wednesday as speculators piled into the market, betting on further disruptions in top producer Chile and firm demand from the biggest consumer China. - more

      China should strengthen policy support in stainless steel industry - According to a report, the stainless steel output only accounted for 2.95% of the total crude steel output. - more

      Finished Steel Imports Down 19% Through May - The U.S. imported a total of 1.8 million net tons of steel in May 2020, including 1.5 million tons of finished steel, the American Iron and Steel Institute reported. - more

      European steel industry looks for way forward amid coronavirus demand blow - The coronavirus has dealt the European steel sector a heavy blow. - more

      The world is not here to make you happy, it is here to challenge you. So how is it doing these days? Better yet, how are you doing? - watch this

   Other News

  • Reuters The Day Ahead - pdf here
  • The U.S.-China Rivalry Is Broadening From Trade to Everything - more
  • Through-cycle investment in mining - more
  • U.S. Futures Drift Before Jobs Data; Dollar Steady: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Wednesday, July 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $6.11/lb ($13,470/tonne). Indicators at 6:05 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses gained on Tuesday and started today just under the 234,700 tonne level. For a second day, nickel is starting the day a tad lower than it closed the prior evening, although yesterday it did end higher. For those who follow technical signs closely, this sends traders a bullish signal, having not only closed above the $13,000/tonne level on two consecutive evenings - but well over. We suspect we are seeing a spring-summer bull run starting a little later than it has over some of the past decade, which was likely delayed by the pandemic. Like all those in the past, it will eventually run out of steam, but how high it go is anyone's guess. It will be pushing against some pretty strong head winds this year, with the pandemic temporarily in check in some areas, primarily China, and still spreading out of control in others, like the U.S.So buckle up - it could be a bumpy ride ahead. It's hump day, so stay safe and have a wonderful day!
  • Average price of LME traded cash nickel so far this month - $5.89/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper at 14-1/2-month high on supply risks, China's equity bull run - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2750/lb
  • SHFE Stainless Steel  Futures -  13,510
  • FIS Air Freight Report - more
  • US Exports of Stainless Steel Mill Products - more
  • Freight Transportation Services Index - more
  • Fastener Distributor Index – June 2020 - pdf here
  • Gross Domestic Product by State, 1st Quarter 2020 - more
  • Gross Domestic Product by Industry, 1st Quarter 2020 - more
  • La Niña Watch continues—likelihood of La Niña in spring around 50% - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Tuesday's market review - Demand hopes, supply worries propel copper to 5-month peak - Copper prices soared to their highest level in more than five months on Tuesday due to strong demand prospects in top consumer China and worries about supplies from Chile, the world’s largest producer of the red metal. - more

      Restart of SA ferrochrome production brings 2020 price recovery to abrupt halt - The rollover in the European benchmark third quarter ferrochrome price announced by Johannesburg-listed Merafe Resources this week was a reflection of the increase in South African supply following COVID-19 lockdowns. - more

      COVID-19 local transmission reported in Surigao mining firm - The local transmission of the coronavirus disease (COVID-19) has been reported at the Taganito High Pressure Acid Leaching (THPAL) Nickel Corporation in Barangay Taganito in the town of Claver in Surigao del Norte after eight workers tested positive for the coronavirus. - more

      Russia's Nornickel disputes $2 bln Arctic spill damages claim - Norilsk Nickel (Nornickel) is disputing more than $2 billion in damages after a fuel spill which Russia’s environmental watchdog has said threatens unprecedented damage to the Arctic. - more

      Former Sudbury Vale worker looks back at lengthy strike 10 years later - It's been 10 years since a bitter strike ended in Sudbury, a labour disruption that a former worker and union executive says employees didn't gain anything from. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • European Stocks Extend Slide; U.S. Futures Drift: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Tuesday, July 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $6.05/lb ($13,345/tonne). Indicators at 6:10 am CST today show nickel trading around $.02/lb  lower. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Monday and remain just over the 234,200 tonne level. After a very bullish Monday, nickel traders are quiet this morning, with nickel slightly lower, most likely on a stronger US Dollar. Shanghai nickel traders returned to their bullish mood, after taking a break yesterday, but so far this morning, LME traders are not playing follow the leader. From the technical side of trading, a second close above $13,000/tonne, would send a bullish signal, although we have seen this type of technical signal fail on a few occasions already this year. The recent string of environmental crisis' appears to have given adversaries of Norilsk's Potanin a possible opening to force him to loosen his grip on Russia's largest nickel producer. It has been tried before, so it will be interesting to watch. Stay safe and have a great Tuesday!
  • Average price of LME traded cash nickel so far this month - $5.86/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Demand hopes, supply worries propel copper to 5-month peak - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2663/lb 
  • SHFE Stainless Steel  Futures -  13,510 

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

NAB 6 July 2020 Alan Oster Podcast – Coronavirus and the economy - here


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Monday's market review - China demand optimism drives copper to five-month high - Copper prices scaled five-month highs on Monday, boosted by optimism about demand in top consumer China and concerns about the spread of COVID-19 in Chile, the world’s largest producer. - more

      Merafe Resources - Shareholders of the Company are advised that the European benchmark ferrochrome price for the third quarter of 2020 has been settled at 114 US cents per pound, a rollover from the second quarter of 2020. - source

      Daily crude steel output at CISA key mills in June rose 2.7% from month ago - China’s steel production remained at record high levels in late June, on track for a new record high of monthly output. - more

      Brazil's Vale to take $400 mln charge from nickel asset sale - Brazilian miner Vale SA said on Monday it expects to record a $400 million impairment charge for the period ending on June 30 related to the planned sale of its long-troubled nickel and cobalt operations on the Pacific island of New Caledonia. - more

       Russian watchdog seeks $2 billion in damages from Nornickel over Arctic fuel spill - Russia's environmental watchdog has asked a power subsidiary of Russian mining giant Norilsk Nickel (Nornickel) to pay almost 148 billion roubles ($2 billion) in damages over an Arctic fuel spill in Siberia. - more
  • Russia's Rusal calls for meeting of Nornickel board to discuss damages claim from Arctic fuel spill - more

     Global Plug-In Electric Car Sales In May 2020 - The global plug-in electric car sales in May were around 144,600 according to EV Sales Blog, which is some 23% less than in 2019. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Stock Rally Pauses as Dollar Edges Higher: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Monday, July 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $5.89/lb ($12,995/tonne). Indicators at 6:15 am CST today show nickel trading around $.13/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday and started the first full week of July, just over the 234,200 tonne level. The nickel bulls are determined to take nickel over the $13,000/tonne level, and it is starting to look like they might be successful in July. There were about three days in June where nickel closed above this level, but in all three occasions, it was by a hair. And while we can not call it just yet, it appears that nickel could be trading back to mid February levels this week. The U.S. Dollar is trading lower this morning, which is helping boost base metals in general, and the world appears to be trying to figure out if Chinese traders know something they don't. On Thursday, Shanghai metals markets, which typically shadow LME results, jumped unexpectedly, and LME followed on Friday. LME traders are still bullish while Shanghai nickel traders were less enthusiastic overnight. A surprisingly strong jobs report in the U.S. has equity traders in a good mood, both in the U.S. and worldwide. A new week, in a new quarter, in a new half. For many of you, it has been a challenging first half to 2020. And time will tell how much challenge the second half has to offer. There is always adversity; sometimes not as obvious as a pandemic. How you meet these challenges defines you. Learn from your failures, and savor your victories. Face the headwinds, and don't let them control you. And let us all look forward to the day when we can we can walk into a bar again and say "give me a Corona" please! Stay safe and have a wonderful week!
  • Average price of LME traded cash nickel so far this month - $5.81/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper heads towards five-month high on China demand optimism - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2427.lb
  • SHFE Stainless Steel  Futures -  13,510

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

Coronavirus traces found in March 2019 sewage sample, Spanish study shows - more (since this article, Brazil scientists have confirmed they found the coronavirus in samples from November 2019)


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Friday's market review - Copper rally runs out of steam on worries about China demand - Copper slipped on Friday as speculators bet a rally had extended too far with demand in top consumer China likely to struggle and after new coronavirus cases in the United States hit record levels. - more

      U.S. Exports of Stainless Steel Wire - more

  • U.S. Imports of Stainless Steel Wire - more
  • U.S. Exports Misc. stainless steel bars, rods - more
  • U.S. Imports Misc. stainless steel bars, rods - more
  • U.S. exports of Nickel - more
  • U.S. exports of Nickel bars, rods, wire - more
  • U.S. imports of Nickel bars, rods, wire - more
  • U.S. imports of Nickel - more
      NSSC raises chrome series stainless steel wire rod prices for Jul-Sep delivery - Nippon Steel & Sumikin Stainless Steel Corporation (NSSC), the largest stainless steel manufacturer in Japan, announced to keep its prices of SUS304 and other nickel series stainless steel wire rods unchanged for the contract signed in June-August 2020 (July-September delivery.  - more

      China stainless steel futures jump on raw material costs, firm demand - Shanghai stainless steel futures hit a six-week high on Friday, rising as much as 3% at one point, propped up by resilient raw material prices and optimism over domestic demand. - more

      Nickel Asia, among first responders with donation of over P50M - Nickel Asia Corp. (NAC) acknowledges the threats of any possible crisis in communities by immediately activating the company’s built-in system of methodically responding to any emergency. - more

      Russia temporarily halts parts of Nornickel power unit after fuel spill - Russia's safety watchdog on Friday ordered NTEK, a power unit of mining giant Norilsk Nickel, to suspend operations at six facilities for 90 days for violating safety rules, following a fuel spill in the Arctic. - more

      Small tailings dam collapses in Ecuador, communities denounce pollution - A small tailings dam associated with a mine run by Ecuadorean firm Austro Gold has collapsed, Ecuador’s government said on Friday, sending mining waste into a nearby river. - more

      How metal fabricators can juggle the many needs of the customer - You have been working on your lean manufacturing journey for some time now, and it can be easy to become inward-focused as ideas start to gain traction. - more

      Power price threatens key sectors of economy - The National Energy Regulator of South Africa (Nersa) yesterday warned South Africa was on a path of  de-industrialisation as current electricity price increases were not sustainable both for consumers and suppliers. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China Propels Global Stock Rally to One-Month High: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Friday, July 3

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $5.87/lb ($12,930/tonne). Indicators at 6:50 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and started today's session just under the 234,300 tonne level. Much of the US, including the financial markets, is closed today as America celebrates its independence tomorrow. Traders elsewhere are taking nickel higher today, and at the moment, over the $13,000 tonne level. Nickel has been bullish since Wednesday and the beginning of a new quarter. No real change in the fundamentals, except the major PMI's all looked better in June, with the U.S. joining China returning to positive. Covid remains the Achilles Heel of the market, with the US crossing the 50,000 threshold in daily new cases on Tuesday, only to end Thursday closer to the 60,000 level. This is forcing some states to pull back on their openings, and in extreme cases, reversals of prior closings are taking place.  SMM is reporting nickel ore inventories rose for their third consecutive week,  which, due to the decision by Indonesia to stop exports at the beginning of this year, should not be happening. While the Phillippines are trying to pick up the slack, which is not possible, this implies a slowing in demand. So, a lot of mixed signals to start July ... much like we started June. For now, it's the weekend. Stay safe, Happy 4th, and enjoy your weekend.
  • Average price of LME traded cash nickel so far this month - $5.76/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rally runs out of steam on worries about China demand - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2442/lb
  • SHFE Stainless Steel  Futures -  13.500
  • Monthly Construction Spending May 2020 - pdf here
  • Monthly US International Trade May 2020 - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more
  • U.S. Export Sales - pdf here
  • Monthly Mfg Shipments, Inventories and Orders May 2020 - pdf here
  • US Economic Indicators:Durable Goods Orders& Shipments - pdf here
  • Wells Fargo Weekly Economic & Financial Commentary - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

Alan Oster Podcast – Coronavirus and the economy - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Copper rallies as supply risk grows in top miner Chile - Copper gained for a sixth straight session on Thursday due to supply disruptions in the world’s largest producer Chile and more signs of recovery in large economies. - more

       Stainless steel production decreases by 8.0% to 11.7 million tons in the first three months of 2020 - The International Stainless Steel Forum (ISSF) has released figures for the first three months of 2020 showing that stainless steel melt shop production decreased by 8.0% year–on–year to 11.7 million metric tons. - more

      Russia's Nornickel to receive assessment on Arctic fuel leak damages in a month - Russia’s Norilsk Nickel said on Thursday it expected to receive an assessment of the damages caused by a fuel leak in the Arctic in a month. - more
  • Nornickel draws up permafrost monitoring plan after Arctic fuel spill - more
  • Nickel Shuffle; Russians Go Home And BHP Moves In - more

      COLUMN-A miraculous COVID-19 recovery but Dr Copper needs more tests: Andy Home - Doctor Copper has staged a miraculous COVID-19 recovery. But with few signs the world economy is set for an equally impressive bounce back, he needs to remain under observation for any sign of a relapse. - more

      EU steel safeguard decision could nip European steel recovery in the bud -  Industrial European Trade Union and the European Steel Association (EUROFER) have reiterated their deep disappointment at the EU’s decision to not adjust the tariff-free import quota for steel in the light of the collapse in EU steel demand. - more

      Despite COVID Spike, Industrial Purchasing on the Rise - Shifting inventory levels and intelligent supply chain management are helping to drive key purchasing numbers upward. - more

   Other News

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Thursday, July 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $5.83/lb ($12,855/tonne). Indicators at 6:10 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today's session, just over the 234,300 tonne level. The US Dollar is slightly lower against the Euro this morning, which may account for nickel is trading slightly higher. We appear to be in another one of those industry news droughts, as finding articles we believe would be of interest to our readers, are few and far between. Like sales, news is an up and down thing. Reports pick up for the next few weeks, so you will see the links in that section pick up. We updated the PMI page, and all four we follow look better than last month. The US has joined China in showing expansion, while the Distributor Index we link to below, makes us wonder if the US PMI number is a blip. On the negative side of the coin, the US saw its first day of 50,000 new cases of covid-19. On the positive side of the coin, we did 'not' find a new story this morning where Norilsk had caused another ecological disaster. Stay safe, and have a great Thursday.  
  • Average price of LME traded cash nickel so far this month - $5.69/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper scales 6-month high on Chile supply risk - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2523/lb
  • SHFE Stainless Steel  Futures -  13,230
  • U.S. Imports of Stainless Steel Mill Products - more
  • Consumer Confidence Survey - pdf here
  • Recycling Today - July 2020 - here
  • GDPNow model estimate for real GDP growth in the 2nd quarter of 2020 is -36.8% - more
  • Fed U.S. Economic Activity - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

A National Mask Mandate Could Save The U.S. Economy $1 Trillion, Goldman Sachs Says - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Wednesday's market review - Copper boosted by supply disruptions and glowing China data - Copper climbed to its highest in over five months on better-than-expected factory data from top consumer China and supply disruptions in Chile, the world’s largest miner of the metal. - more

      London Metal Exchange to build out electronic options -  The London Metal Exchange has issued a discussion paper proposing the development of its electronic options market in a bid to bring more transparency, and simplify processes. - more

      European stainless steel sector faces reality of a slow recovery - Hopes of a quick recovery, in the European stainless steel market, have faded. Demand remains a concern, even in those countries where successful efforts have been made to control the virus. - more

      Distributor Pandemic Revenue Index Falls Further, Back to Double-Digit Decline - A few weeks ago, the sentiment in Indian River Consulting Group's weekly Distributor Pandemic Revenue Index (PRI) was that distributor might be mostly out of the weeds of as far as major negative business impacts from COVID-19, the latest index figures show there's still a ways to go. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Advance With U.S. Futures; Dollar Slips: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Wednesday, July 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $5.81/lb ($12,810/tonne). Indicators at 6:05 am CST today show nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started the new month just over the 233,500 tonne level. Stockpiles ended May at 233,496 tonnes, so the gain for the month amounted to a whooping 30 tonnes. Nickel ended the month of May at $5.53/lb, so while it was unable to punch thru the $6/lb level, it ended at its highest level since its January ending. July thru September are typically the 'slow' season for stainless steel production, at least in the Western Hemisphere, but the pandemic has thrown a monkey wrench in about everything else, so who knows what this summer will bring. We have seen some very bullish runs start in the past summers, so seasonal effects are another factor that apparently used to matter to traders, but not so much anymore. We welcome back Duraloy Technologies as our July sponsor. Thanks to their support, we can bring you daily news throughout the month of July. Today, we start the second half of 2020. There are 83 days of summer left, and 177 days left until Christmas. There is space in the glass, and depending on whether you see it as half empty or half full, there is plenty of sunshine out there. Some days the sun may be harder to find, but life offers each of us an opportunity each morning, to seek out the positive, or look for the negative. The challenges of the first half of 2020 are behind us and no one knows what the second half yet holds in store for us. Challenges will be overcome, and success will offer its own rewards. May the second half of 2020 bring you more of the latter. Stay safe and have a great day .... and month ..... and latter half of the year.
  • Average price of LME traded cash nickel so far this month - $5.76/lb (average for June)
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper hits 5-1/2-month high on potential rate cuts, China data - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.258/lb
  • SHFE Stainless Steel  Futures -  13,230
  • Manufacturing Engineering July 2020 - online here
  • US Economic Indicators:Durable Goods Orders& Shipments - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
Resurgence - how is your state faring? - more

How Risky is Flying During the Coronavirus Pandemic? - more


Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Tuesday's market review - Copper set for best quarter in a decade on China rebound - Copper prices headed for their biggest quarterly rise in ten years on Tuesday, as resurgent Chinese demand, supply disruption and global stimulus fed a bounce from March’s four-year lows. - more

      Taiwan’s Tang Eng follows Yusco to increase its stainless steel prices for Jul - According to the announcement from Tang Eng Iron Works Co., Ltd, the second-largest stainless steelmaker in Taiwan, it would increase its stainless steel price for July. - more

      US steel price recovery comes to a halt - The recovery in US steel prices, that commenced in early May, came to a halt in recent weeks.  - more

      Powell: Economic Recovery Unlikely Until Consumer Confidence Resumes -  Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus. - more

  • Survey: Manufacturers remain optimistic despite COVID-19 uncertainty - more
  • Supplier financial health check, Part III: Now is the time for manufacturers to reshore - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Companies Prodded to Rely Less on China - more
  • Futures Edge Down as New Quarter Starts; Bonds Dip: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • Shanghai Futures Exchange Stainless - here
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart


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(all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 7 am CST, Friday version before 8 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Please note - for real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.



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