This page is archived news covering the period of July 2021
If you are looking for current daily market news, please visit here.


Stainless Steel News and Nickel Prices




Elg Metals Worldwide








Friday, July 30

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $9.01/lb ($19,860/tonne). Indicators at 7:05 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today just over the 214,600 tonne level. Nickel came within $50/tonne of the $20,000 level during trading yesterday, and ended the day with another gainer. This morning, after SMM markets fell slightly overnight, nickel bulls appear to be in a wait and see attitude. US equity stock futures are lower, so they may be waiting to see what kind of mood U.S. trading houses are in. Indonesia scored another battery factory. That sodium ion battery that China announced yesterday does not use nickel. Russia is considering pegging their new mineral export tax to the global price, while Vale and Glencore reported earnings. Talon Metals has announced it has teamed up with the USW in Minnesota to push for the approval of its Tamarack project. If, and that is a big if, they ever open this mine, we wonder how long this love affair between the mine and the union will actually last. A month? A week? 1 day maybe? Oh well. It's Friday. Stay safe out there and enjoy your weekend.
  • Average price of LME traded cash nickel so far this month - $8.51/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Aluminium streaks to three-year highs on Chinese power cuts - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3548
  • SHFE Stainless Steel  Futures (yuan) -  20,810
  • US Economic Indicators: Industrial Production - pdf here
  • Gross Domestic Product, Second Quarter 2021 - more
  • Scotiabank Commodities: Forecasts Raised Despite Delta - more
  • Mine Magazine August 2021 - online 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

     Thursday's market review - Copper rises as Fed spreads bullish mood through markets - Copper prices rose on Thursday after signals from the U.S. Federal Reserve that it was in no rush to tighten and efforts by China to calm fears of new regulation spread a bullish mood through markets. - more

      Iron Ore Tumbles as China’s Steel Sector Revamp Curbs Demand - Iron ore tumbled on expectations demand will wane as China deepens steel production cuts in its drive to clean up the industry. - more

     Hyundai Motor, LG's battery unit to invest $1 bln in EV partnership - South Korea's Hyundai Motor Group and LG Energy Solution said on Thursday they would set up a joint venture (JV) in Indonesia to establish a battery cell plant for electric vehicles (EV), investing $1.1 billion with each owning half the business. - more

      Brazil's Vale revises down year-end iron ore output - Vale SA flagged potential production setbacks on Thursday amid temporary issues at multiple iron ore mines, but executives said the Brazilian miner was still on track to ramp up output in the second half of the year. - more

  • Glencore ups expectations for FY trading, lowers nickel, coal - more
  • BHP to power two Australian mines with solar power and battery storage - more

       Russia mulls pegging tax on mining firms to global metals prices - Interfax - Russia is considering pegging a mineral extraction tax (MET) levied on its metals producers to the global price of their products from 2022, the Interfax news agency reported on Friday, citing Deputy Finance Minister Alexei Sazanov. - more

  • Russian fisheries agency seeks $800 mln from Nornickel over fuel spill - more

      Talon Metals partners with Steelworkers union to advance Tamarack nickel project (press release published by Talon Metals) -  Talon Metals Corp. and the United Steelworkers union (USW) today announced a ground-breaking new workforce development partnership to advance the Tamarack Nickel Project in Tamarack, Minnesota. - more

      Trivia - Is stainless steel ferrous - or non ferrous? - "The simple answer is that ferrous metals contain iron and non-ferrous metals do not." - source and more  (Answer - stainless steel is ferrous because it contains iron. For instance, 304 stainless steel is around 70% iron.)

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Economy Surpasses Pre-Pandemic Size - more
  • Nanjing airport coronavirus cluster ‘spreads to 15 other Chinese cities’ - more
  • Futures, Stocks Fall as Amazon Stokes Tech Worry: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Thursday, July 29

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.88/lb ($19,585/tonne). Indicators at 6:00 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday, and started today's session just over the 215,400 tonne level. Nickel is trading higher this morning, but that could be because the Euro jumped this morning. Apparently Fed chairman Powell told a press conference yesterday that it would be some time before interest rates begin to rise, and thus, the U.S. Dollar is losing some of its 'safe haven' status this morning. Not everyone is betting nickel will trade over $20,000/tonne. Reuters quoted Cailin Birch at the Economist Intelligence Unit, “Factors such as rising coronavirus infection rates and a less favorable fundamental backdrop continue to pose downside risks [to nickel], as will the threat of elevated trade tensions between the U.S. and China.” Time will tell if he is right, but at least for July, nickel remained very bullish, with the average LME cash price well above February, the highest month prior. Two days remain in the working week, two working days remain in the business month. Stay safe out there and have a great day.
  • Average price of LME traded cash nickel so far this month - $8.49/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper rises as dollar weakens after Powell's dovish comments - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3548
  • SHFE Stainless Steel  Futures (yuan) -  19,840
  • Advance Monthly Wholesale Inventories - pdf here
  • Eramet results - pdf here
  • Nickel Mines Ltd results - 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 hovers near 6-week highs as markets await the Fed - Copper prices sat near six-week highs on Wednesday as investors waited for details from a Federal Reserve meeting that could shift expectations for U.S. monetary policy. - more

      China’s nickel sulphate prices hit new high - China's domestic nickel sulphate prices rose to a new high on 27 July, with import prices also surging amid burgeoning demand from the new energy vehicle (NEV) and battery sectors and tight local supply. - more

      POSCO to Build Nickel Plant in Gwangyang by 2023 - POSCO announced on July 28 that it will invest 230 billion won to build a nickel factory in Gwangyang by 2023. - more

    China’s CATL Announces Sodium Ion Batteries – First Leading Automotive Battery Manufacturer - China’s CATL said Thursday that it would be the first major automotive battery manufacturer to announce sodium-ion batteries and plans to establish a new technology supply chain in 2023. - more

      Tesla co-founder raises $700 million for battery recycling startup - Redwood Materials, a Reno, Nevada-based battery recycling startup founded by Tesla co-founder JB Straubel, has raised $700 million at a $3 billion pre-money valuation led by T. Rowe Price. - more

      Mayor who shut Palawan mine serves suspension - Mayor Jean Feliciano of Brooke’s Point, Palawan, on Tuesday started serving her yearlong suspension from office, following an order by the Office of the Ombudsman that found her guilty of oppression or grave abuse of authority for stopping the operations of a mining company in her town in 2018. - more

      What is the HIPAA Privacy Rule? - The Health Insurance Portability and Accountability Act’s Privacy Rule is a federal law prohibiting health care providers, businesses and the people working with them – including administrative staff, laboratories, pharmacies, health insurers and so on – from disclosing your health information without your permission. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Houston’s Container Operations Suspended due to Hardware Failure - more
  • Prediction at scale: How industry can get more value out of maintenance - more
  • Futures Steady as Stocks Climb on Fed, Earnings: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Wednesday, July 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.77/lb ($19,342/tonne). Indicators at 6:00 am CST today show nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell by over 2000 tonnes and ended that session just over the 215,800 tonne level. Nickel retreated yesterday on more threats from China to cool down their steel sector, but is back in the black today. The rival bid by BHP for Noront Resources is adding some favorable attention to nickel miners value. It is also confirms the long term value the world's largest miner (we believe) puts on the future of nickel prices. This is a complete shift for BHP, who not so long ago, basically abandoned nickel. Now, they appear to be all in with a new long term contract with Elon Musk to supply nickel for Tesla batteries. Norilsk is making an investment in upgrading the port of Dudinka. It's hump day and there are three business days left in July. Stay safe out there and enjoy your day.
  • Average price of LME traded cash nickel so far this month - $8.47/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper prices hover near multi-week highs on solid H2 outlook - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3558
  • SHFE Stainless Steel  Futures (yuan) -  19,235
  • Consumer Confidence Relatively Unchanged in July - more
  • US Economic Indicators: Durable Goods Orders & Shipments - 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

     Tuesday's market review - Copper prices dip ahead of Fed meeting - Copper prices snapped a five-session winning streak on Tuesday as investors held off on making large bets ahead of a U.S. Federal Reserve meeting expected to give more direction on monetary policy. - more

      Mining giant BHP offers to buy Canada's Noront Resources for $258 mln - BHP Group has made a C$325 million ($258.45 million) approach for Noront Resources, rivaling an offer from Australian mining billionaire Andrew Forrest's Wyloo Metals for the Canadian nickel-copper miner. - more

      China looks to more export tariffs to tame booming steel sector - China is considering imposing more tariffs on steel exports as it seeks to achieve twin goals of capping domestic production and taming the surging prices that have fanned concerns about inflation. Futures dropped. - more

      Nornickel plans to invest up to $353 million in Dudinka port upgrade - Nornickel (the Norilsk Nickel Company) plans to invest up to 26 billion rubles ($353 million) in the upgrade of the Dudinka port in the Krasnoyarsk Region. - more

      Transportation Roundup - Where’s My Truck? - Long before March 2020, the transportation industry was facing a serious shortfall in driver and truck capacity. The pandemic has only amplified that issue. - more

     African nations criticize push to fast-track deep-sea mining talks - African countries, many of which are heavily reliant on mining, have criticized a move by the tiny Pacific island nation of Nauru to fast-track international negotiations over deep-sea mining, an industry that could hurt their economies. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Economist: Higher prices will ease by this time next year - more
  • $15 Wage Becoming Common as Employers Struggle to Fill Jobs - more
  • U.S. Futures Rise as Stocks Mixed Amid Earnings: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Tuesday, July 27

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.97/lb ($19,760/tonne). Indicators at 6:00 am CST today show nickel trading around $.22/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just under the 217,900 tonne level. Nickel closed  at its highest level this year on Monday, beating its February 24th close by $60/tonne. It traded higher in February than it did yesterday, coming within a hair of the $20,000/tonne level at one point, but yesterday was its best closing of the year. This morning, it appears the bulls are taking some profits off the table. Shanghai nickel ended higher for a third session overnight, but they are following LME nickel lower this morning. Stainless steel indexes in China were in retreat mode overnight, well off recent highs. They remain higher than they were last Thursday, so it will take a lot more daily declines to be recorded before we see any pattern forming. They have climbed so high, so quickly lately, that some declines are inevitable. Even a bull has to rest periodically. News is quiet today although Reuters posted an interesting story titled "Booming stainless steel output to sustain nickel prices for months". It's posted below and contains some interesting information. Stay safe out there and have a great day/ 
  • Average price of LME traded cash nickel so far this month - $8.45/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits multi-week highs on weaker dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3558
  • SHFE Stainless Steel  Futures (yuan) -  19,190
  • Preliminary: U.S. Imports For Consumption of Steel Products June 2021 - 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

     Monday's market review - Copper climbs to 6-week high on floods in China, weak dollar - Copper prices rose on Monday as floods in top consumer China sparked demand hopes at a time when inventories were falling, while a softer dollar also supported prices. - more

      Booming stainless steel output to sustain nickel prices for months - Healthy demand from stainless steel mills and electric vehicle battery makers is expected to underpin nickel prices over coming months, but rising supplies from top producer Indonesia are likely to weigh next year. - more

      Taiwan’s Yusco & Tang Eng expected to raise stainless steel prices for Aug - Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, will announce their new prices of stainless steel for August this week. - more

      Courtesy AISI - In the week ending on July 24, 2021, domestic raw steel production was 1,868,000 net tons while the capability utilization rate was 84.6 percent. Production was 1,350,000 net tons in the week ending July 24, 2020 while the capability utilization then was 60.3 percent. The current week production represents a 38.4 percent increase from the same period in the previous year.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Fall With U.S. Futures on China Selloff: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Monday, July 26

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.81/lb ($19,430/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and start the new week just under the 219,200 tonne level. Nickel rose over $600/tonne (3.2%+) on Friday, with LME traders following, after making a sudden switch in follow the leader. Shanghai traders took nickel higher for a second session overnight, but so far this morning, LME traders don't seem to be buying this jump. It's the first business day of the final week of the first month of the second half of 2021. There are only 152 days left until Christmas and six more than that left in the year. Stay safe out there and have a good week.
  • Average price of LME traded cash nickel so far this month - $8.43/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits near 6-week peak on China floods, equities rout - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3549
  • SHFE Stainless Steel  Futures (yuan) -  19,540

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 gains for fourth session on economic recovery hopes - Copper prices gained for a fourth straight session on Friday as investors bet that extended easy monetary policy would help to boost economic recovery and metals demand. - more

       June 2021 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 167.9 million tonnes (Mt) in June 2021, an 11.6% increase compared to June 2020. - more

      January to May 2021 Metals Balances - (excerpt) The nickel market was in deficit during January to May 2021 with apparent demand exceeding production by 42.7 kt. In the whole of 2020, the calculated surplus was 92.7 kt. - more

      Column: Iron ore stumbles as rising supply runs into China steel discipline - Iron ore prices have suffered their worst week for nearly 18 months amid signs that the two factors needed for a sustained correction may be coming into play - Chinese steel producer discipline and a recovery in supply of ore. - more

      Iron ore price holds above $200 a tonne; impact of Chinese slowdown needs to be monitored - Iron ore prices rose to $ 200 a tonnes, pressured by concerns about demand prospects for the steelmaking raw material in top steel producer China. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China: Plug-In Electric Car Sales Reach New Record In June 2021 - more
  • How the Delta variant upends assumptions about the coronavirus - more
  • U.S. Futures Fall With Stocks on Growth Concern: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Friday, July 23

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.58//lb ($18,920/tonne). Indicators at 6:45 am CST today show nickel trading around $.13/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and ended that session just over the 219,400 tonne level. Cancelled warrants are climbing again and back in the mid 26% range today. Nickel punched thru the $19,000/tonne level in early overnight trading, and has done little since. Stainless steel indexes in China continue to rise at an incredible pace. Once again, thank you to those who sent an email reference my father. It is comforting to receive email's from around the globe from people who are thinking of you beyond your news blog content. Thank you. Stay safe out there and may you have a safe and relaxing weekend.
  • Average price of LME traded cash nickel so far this month - $8.40/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises as investors shrug off recovery woes on upbeat earnings - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3549
  • SHFE Stainless Steel  Futures (yuan) -  19,320
  • Cleveland-Cliffs Reports Record Second Quarter 2021 Results - pdf here
  • Direct Investment by Country and Industry, 2020 - 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 on weakening dollar as risk appetite improves - Copper prices gained on Thursday, buoyed by a softer dollar, dwindling inventories and a revived risk appetite. - more

      PACRO continues discussion of DOE site nickel - The Paducah Area Community Reuse Organization agreed Wednesday to learn more about the potential economic impact that could come from 10,000 tons of nickel currently located at the U.S. Department of Energy’s Paducah site. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Surging Steel Prices Hurt Shipbuilders While Driving-Up Scrap Values - more
  • Union Pacific to Resume Rail Service from West Coast Ports On Schedule - more
  • Futures, Stocks Rise on Earnings Boost; Bonds Slip: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Thursday, July 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.43/lb ($18,590/tonne). Indicators at 6:45 am CST today show nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just over the 219,500 tonne level. Nickel bulls are making another charge this morning, hoping to break above the $19,000/tonne level - and stay there. Market is buzzing this morning with news Elon Musk has agreed to buy 'environmentally friendly' nickel from BHP.  Wasn't Musk part of the consortium that just took over Goro in New Caledonia from Vale? Thank you to those who took a moment to send an e-mail yesterday in regards to my father's fight with covid. At 2:30 am this morning, he lost the fight. Stay safe out there.
  • Average price of LME traded cash nickel so far this month - $8.40/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises on weakening dollar as risk appetite improves - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3549
  • SHFE Stainless Steel  Futures (yuan) -  18,575

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 - Lead hits three-year peak after German plant shuts, copper firm - Lead prices surged to a three-year high on Wednesday after a major lead smelter in Germany halted operations due to flooding. - more

      Column: Stainless steel strength and supply hits reinforce nickel - A strong pandemic recovery rally was rudely interrupted in March, when China’s Tsingshan Group said it intended to produce battery-grade nickel at its Indonesian operations. - more

      Russia's Rusal sees 2021 sales down due to new tax - Rusal risks losses on exports due to an export tax set to take effect from August to December, the Russian aluminium producer’s deputy chief executive told reporters. - more

      Tesla strikes deal to buy the nickel it needs to make electric car batteries directly from mining giant BHP - Tesla has struck a deal to buy nickel directly from mining giant BHP. The contract will give the electric car maker, run by controversial billionaire Elon Musk, a guaranteed stream of the highly sought-after metal, which is used to make electric batteries. - more
  • BHP to supply greener Australian nickel to Tesla - more
      Citigroup optimistic about short-term nickel prices - According to Citigroup’s forecast, the prosperity of commodities will last for two more quarters. - more

      Flood of Import Containers Disrupts U.S. Intermodal Rail  - The flood of import cargo arriving at the main U.S. gateway ports has started to overwhelm the intermodal rail network, which carries a substantial share of the import volume to inland markets in the Midwest. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Charlotte steel manufacturer Nucor acquiring Hannibal Industries in $370M deal - more
  • U.S. Life Expectancy Plunged in 2020, Especially for Black and Hispanic Americans - more
  • Global Trade Roars Back, But Stresses Remain - more
  • Stocks, U.S. Futures Rise Amid Earnings Optimism: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Wednesday, July 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.47/lb ($18,680/tonne). Indicators at 6:50 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Tuesday and started today's session just under the 220,100 tonne level. Nickel gained back Tuesday some of what it lost on Monday, and has retreated again this morning, but bouncing off a week line of support this morning. The International Nickel Study Group reported that in the first five months of 2021, nickel stockpiles fell by about the same amount that they rose in the first five months of 2020. And India has backed off on threats to impose import duties on stainless steel flat rolled products. I have struggled on how to approach the covid subject as it has resurfaced with a vengeance, and have tried to limit comments to how it is affecting the business cycle, as in the price drop of nickel, and equity markets, on Monday. This is a news blog, not a bully pulpit. People are tired of the subject, and based on some of our e-mail's over the past year and a half, we have our share of readers who have doubts about the whole pandemic scare. I leave you today with this. My 81 year old father, a retired purchasing agent, and active Baptist minister, was one of those who had his doubts about the whole covid subject, and refused to be vaccinated, although my mother chose to get the shot. After being hospitalized in Springfield, Missouri, from the Delta variant since the 6th of this month, he was put on a ventilator Monday, and his doctor told my mother his prognosis was grim, due to his advanced age. While my father is in the hospital in Springfield that is getting most of the national media attention, this article from the other large hospital in town, gives an idea of what my father, and the other covid patients, are experiencing (article here). Folks, 620,000 American soldiers reportedly died during the Civil War, dwarfing the American dead in other American wars, and until the Vietnam War, more than all the others to that point combined. It took five years for that war and disease to kill that many soldiers. In the last year and a half, 625,000+ Americans have died from covid. Not soldiers, but fathers, mothers, grandparents, and children, trying to live their life in peace. Like you are today. Please, if you won't get the jab for yourself, consider doing it for those who care about you. And no, I am not on vacation this week. Please - stay safe out there.
  • Average price of LME traded cash nickel so far this month - $8.40/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper steadies on modest China reserves sale, but dollar weighs - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3549
  • SHFE Stainless Steel  Futures (yuan) -  18,490
  • US Economic Indicators: Industrial Production - pdf here
  • Vale's Production and Sales In 2Q21 - pdf here
  • BHP operational review for the year ended 30 June 2021 - 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

     Tuesday's market review - Copper recoups some losses after COVID-driven sell-off - Copper on Tuesday recouped some of its losses from the previous session, when surging coronavirus infection rates triggered a sell-off of assets like metals, equities and oil that benefit from economic growth. - more

      European stainless steel prices keep rising on tight supply - The prices of cold-rolled stainless steel in the European market kept rising in the past week due to the current tight supply situation. - more

       Global nickel market deficit widens in May -INSG - The global nickel market deficit widened to 21,300 tonnes in May compared a shortfall of 20,400 tonnes in April, data from the International Nickel Study Group (INSG) showed this week. - more

      Anti-dumping duty on flat rolled steel products from 15 countries waived - India has decided not to impose anti-dumping duty on imports of flat-rolled products of stainless steel from 15 countries including China, Korea, European Union, Japan, USA, and Singapore, according to an office memorandum of the department of revenue. - more

     Opponents say latest legal setback proves PolyMet is failed project - Opponents say the latest legal setback for the proposed PolyMet copper-nickel mine — the Court of Appeals ordering more review of the air permit — shows it’s a failed proposal. - more

     This Industrial Giant Expects Inflation to Be Sticky - Fastenal signals that rising costs and labor shortages will continue to make the reopening environment tricky to navigate. - more

  • Würth Group reports double-digit sales growth - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Port Chief Sees U.S. Import Surge ‘Easily’ Lasting Into 2022 - more
  • Warning signs for global recovery as Delta dims outlook - more
  • Stocks Rise With Earnings in Focus; Treasuries Dip: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Tuesday, July 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.37/lb ($18,460/tonne). Indicators at 6:50 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just over the 220,100 tonne level. Surprisingly, cancelled warrants fell into the 23% range today. With the constant drop in inventory numbers, one would assume if future orders were keeping pace with current shipments, then cancelled warrants would be climbing slightly. In fact they started the month in the 26% range, and after 13 days of declines, and only one gain, warrants numbers continue to fall. Yesterday the US government warned US citizens against traveling to the United Kingdom and some other countries due to skyrocketing covid cases, coinciding with England's so called 'Freedom Day'. Nearly all lockdown restrictions in that country were lifted Monday, while cases spiked, the country recording more new covid cases over the past few days than any other nation in the world. Markets soured on the covid news, and many fell sharply yesterday, including base metals. Nerves appear to be less rattled this morning, with some enthusiasm back into trading numbers. Lots of news today. Koniambo, on New Caledonia, the only nickel mine that seemingly wasn't making headlines weekly because of problems with the locals - is now being reported as having shut down two weeks ago, due to problems with the locals. Nornickel reports it produced its first batch of carbon neutral nickel, while Arcelor Mittal plans on building the world's first carbon neutral steel plant in Spain. Updates are posting later this week. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.40/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper near 1-month low on virus worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3549
  • SHFE Stainless Steel  Futures (yuan) -  18,490
  • Steel Founders' Society of America CaSteel Reporter - 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

     Monday's market review - Demand doubts and dollar dent copper sentiment - Copper prices slipped to four-week lows on Monday as sentiment was dominated by a stronger dollar and worries about demand in top consumer China and plans to release copper and other industrial metals from Chinese reserves. - more

      Russian Mining Giant Nornickel Says Produced 1st Batch Of Carbon-Neutral Nickel -  Russia's Nornickel metals company announced on Monday that it had produced its first batch of carbon-neutral nickel, ready to be shipped to customers. - more

      Specialty Metals Report Red Hot - As with other commodity metals, the stainless steel segment is stressed as supply can’t keep up with surging demand. - more

      China steel futures rise on output curbs, supply crunch - Shanghai steel rebar and hot-rolled coils futures rose on Monday amid concerns of supply crunch as top steel producer China stepped up production curbs, while utilisation rates of blast furnaces at key steel mills remain relatively low. - more

      New Caledonia's Koniambo plant still shut - An attempt by New Caledonia's Koniambo nickel plant to resume operations has failed. The site has been blockaded for nearly two weeks by a group claiming the company's tendering process sidelines local businesses. - more

      ArcelorMittal to build first big zero-carbon steel plant in Spain - ArcelorMittal SA has signed a memorandum of understanding with the Spanish government for a 1 billion euro ($1.2 billion) investment to build the world’s first large-scale zero-carbon steel plant. - more

      Supply chain concerns, higher steel prices seen increasing US PPA prices - North American renewable energy power purchase agreement prices continued to increase in the second quarter, LevelTen Energy said July 19, citing solar power industry supply chain hiccups and steel price increases pushing up wind power project costs. - more

      Court orders MPCA to justify PolyMet permitting decision - The Minnesota Court of Appeals has ordered the Minnesota Pollution Control Agency (MPCA) to further explain its decision to grant an air quality permit for the proposed PolyMet nonferrous mine. - more

      Vale reviews copper, nickel guidance amid labour, climate issues - Brazilian miner Vale said on Monday evening that it was reviewing its guidance for 2021 nickel and copper output as strikes and "extraordinary climate conditions" in Canada have materially affected production. - more

      BHP reports record iron-ore outputs  - Major BHP has reported record iron-ore production from its Western Australian operations, while the Olympic Dam operation, in South Australia, also posted its highest annual copper production since the mine was acquired in 2005, along with its highest ever gold production. - more

      How Distributors Can Use Content to Increase Web Sessions - MRO distributor Quality Mill Supply was able to increase their web sessions 24x in only one year, driven by improved content on their e-commerce site’s product detail pages. - more

      Courtesy AISI - In the week ending on July 17, 2021, domestic raw steel production was 1,859,000 net tons while the capability utilization rate was 84.1 percent. Production was 1,350,000 net tons in the week ending July 17, 2020 while the capability utilization then was 60.3 percent. The current week production represents a 37.7 percent increase from the same period in the previous year. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • SOS: Stranded and shattered seafarers threaten global supply lines - more
  • U.S. Futures, Stocks Rise; Treasuries Resume Gains: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Monday, July 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.66/lb ($19,085/tonne). Indicators at 6:55 am CST today show nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started this week just under the 221,900 tonne level. Nickel closed above the $19,000/tonne level for the first time since February. Putting aside one week in February where nickel jumped wildly, and fell as quickly, nickel is looking very bullish. Nickel ended February averaging $8.42lb and we are at $8.39/lb for July. With two full weeks to trade left in this month, the price of traded nickel will have to start declining soon for February's average not to be beat. China continues to threaten commodity speculators, although beyond its borders, its hands are tied. Markets are driven in part by speculation and there were many wishing base metals were not publicly traded long before China became such a huge player. India's JSW reported its second quarter production was affected by the lack of oxygen due to the pandemic in that country. The Delta variant is forcing everyone to confront the fact that the pandemic is not gone, although thanks to vaccination rates, the levels of death are much lower than they were. This could add additional strain to an already stressed supply chain. Our updates are being posted later this week. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.39/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Higher dollar, demand doubts dent copper market sentiment - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3538
  • SHFE Stainless Steel  Futures (yuan) -  18,705
  • US Economic Indicators: Industrial Production - pdf here
  • US Economic Indicators: Manufacturing Production & Capacity by Major Industries - 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

     Friday's market review - Tin hits record on supply concerns, nickel jumps to 5-month high - Tin prices hit a record on Friday due to supply concerns in major producer Myanmar, while lofty stainless steel prices boosted nickel to its highest in five months. - more

     Shanghai stainless steel hits record high on robust demand, raw material shortage - Chinese stainless steel futures surged more than 5% on Friday to an all-time high on strong consumption and raw material supply crunch, while concerns over output cut in the steel sector also supported prices. - more

     High prices of iron-ore and pellets forcing small secondary steel units to close shops - Unprecedentedly high prices of iron-ore and pellet are compelling small secondary steel units in various states including West Bengal to down shutters or curtail production. - more

     China vows to curb commodities speculation to ensure price stability - "We will coordinate with relevant departments to ensure the stability of bulk commodities supplies and prices... guide upstream and downstream players in the industrial chain to stabilise production, supply and marketing of raw materials," ministry spokesperson Huang Libin told a press conference on Friday, according to a transcript on the ministry's website. - more

      Vale Indonesia Q2 nickel matte production drops 19.5% y/y  - PT Vale Indonesia’s nickel in matte production in the second quarter stood at 15,048 tonnes, a company filing to the Indonesia Stock Exchange showed on Monday. - more

     JSW Steel production increases by 39% to 4.10 million tonnes in June quarter - (excerpt) The capacity utilisation level of the company came down to 91 per cent during the quarter under review, compared to 93 per cent a year ago due to a shortage of oxygen supply, which was diverted for medical purposes to combat the COVID-19 virus. - more

    Container shipping companies announce hefty trans-Pacific surcharges - Shipping companies operating on trans-Pacific eastbound trade lanes have announced rate increases for August at unprecedented increments, often using new terminology to describe the surcharges affecting North American importers. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • England's 'freedom day' marred by soaring cases and isolation chaos - more
  • Stocks Tumble, Treasuries Climb on Virus Spread: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Friday, July 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.50/lb ($18,735/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today just over the 223,200 tonne level. Nickel was trading at its highest since late February earlier this morning, but we are back to March 1st levels at the moment. Traders are trying to break out of a daily up and down pattern it appears stuck in, with bulls taking the lead. In a follow up to yesterday's post, the stainless steel index that had jumped to 84.80 yesterday, is reading 87.49 today, and you can see another big jump in the SHFE stainless steel futures below. Stainless steel prices continue to climb. Your author is on vacation next week, so the daily update time is questionable. It is our intention to post an update, we just can not guarantee it will come as early as it typically does. It's the end of the week. We hope you stay safe and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $8.37/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Nickel hits near 5-month high on strong demand, low supply - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3538
  • SHFE Stainless Steel  Futures (yuan) -  18,740

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 boosted by hopes for China stimulus as GDP disappoints -  Copper prices rose on Thursday as lower than expected growth from top consumer China stoked hopes for more support for the world’s second-largest economy. - more

      Global metals trading impetus shifting from east to west: Andy Home - The remarkable one-year rally in base metal prices has been primarily driven by China’s rapid COVID-19 recovery. - more

       (excerpt) China pledged to limit crude steel output in 2021 at no higher than the 1.065 billion tonnes it made last year but at the half-way stage of the year, the country has already produced 563.33 million tonnes of the metal. - more

  • China's June crude steel output down 5.6% m/m on production curbs - more
      Metal Shipments Continue to Increase but at Lower Rates - The dramatic increase in steel and aluminum shipments continued for the fourth straight month in the US and Canada in June but at roughly half the explosive rates recorded in May. - more
  • May Steel Shipments Up 46.2 Percent From Prior Year - more
    Germany: Plug-In Car Sales More Than Tripled In June 2021 - In June, new passenger car registrations in Germany increased almost 25% year-over-year to 274,152, but it's still far from over 325,000 two years ago. - more

      Indonesia records trade surplus of US$1.32 billion in June -  Indonesia’s balance of trade registered a surplus of US$1.32 billion in June, 2021, with exports touching US$18.55 billion and imports valued at US$17.32 billion, the Central Statistics Agency (BPS) reported. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Stock Futures Advance With Earnings in Focus: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Thursday, July 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.43/lb   ($18,600/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell sharply on Wednesday and started today just under the 223,900 tonne level. Nickel has done little since Friday, rising one day, only to fall the next. In the mean time, stainless steel indexes we follow in China are all on the rise. One that we do not post daily started the year at 67.84, started this week at 81.91, and hit 84.80 today. SHFE stainless steel futures jumped from 17,850 yuan yesterday to 18,260 today. It would not appear that stainless steel prices will share in the 40% drop that lumber has witnessed over the past few months - at least not anytime soon. Some PPI charts below that you might find useful. Fortunately, or unfortunately, buyers of stainless steel are seeing price increases and inventory restrictions from across their supply base, so they might suspect your next call is coming. This situation has become a big test, and in many cases, a major black eye, to 'Just-in-Time' supply  systems. The old saying 'Lack of planning on your part does not constitute an emergency on mine" has special meaning these days - and would be especially applicable to our customers, if it were not also so applicable to us as suppliers. Protests in two countries bear watching right now. Cuba, with its nickel mine, and South Africa, with its global supply of ferrochrome. Any extended disruption from either country, could worsen the supply situation for stainless steel producers, and their customers. It's Thursday and the downhill slide is in effect. Stay safe out there and have a  great day!
  • Average price of LME traded cash nickel so far this month - $8.36/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises as weaker China growth data fuels monetary easing hopes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3538
  • SHFE Stainless Steel  Futures (yuan) -  18,260
  • Producer Price Index - pdf here
  • Beige Book - pdf here
  • Producer Price Index by Commodity: Corrugated Paperboard in Sheets and Rolls - chart here
  • Producer Price Index by Industry: Corrugated and Solid Fiber Box Manufacturing - chart here
  • Producer Price Index by Industry: Material Recyclers: Stainless and Alloy Steel Scrap - chart here
  • Producer Price Index by Commodity: Stainless Steel Pipe and Tube - chart here
  • Producer Price Index by Commodity: Stainless Steel Wire - chart here
  • Truck Tonnage - chart 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 slips on worries about inflation, weak China demand - Copper prices lost ground in low volumes on Wednesday on tepid demand in top metals consumer China and uncertainty about rising inflation. - more

      Global nickel & stainless steel outlook keeps improving - With the continuous growing manufacturing and economic output, global demand for metals kept increasing and the market of nickel and stainless steel recyclers is improving. - more

       USW Members Ratify New Contract with ATI - Members of the United Steelworkers union (USW) today ratified a new four-year contract with specialty steel maker Allegheny Technologies Inc., (ATI) that raises wages, provides lump-sum payments and protects affordable, high-quality health care for current and future workers. - more

      Taiwan Yusco’s revenue to be driven by rising prices of stainless steel raw materials - Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, reported that its revenue was around NT$4.57 billion in June, sliding by 5.6% compared to the previous month while during by 59.7% from the same month a year ago. - more

      Metals recycling to be a key plank for cutting emissions - Consumer awareness of carbon emissions from the production of metals for the energy transition will eventually energise the recycling industry and stimulate searches for substitutes that could spoil the party for miners. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Wholesale Inflation Up 1% in June - more
  • Port of Los Angeles Finishes Fiscal Year at 10.9 Million TEUs, a New Western Hemisphere Record - more
  • Stocks, Futures Mixed After Powell, China Data: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Wednesday, July 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.52/lb ($18,780/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and ended that session just over the 225,300 tonne level. USW workers at Allegheny ratified the agreement reached earlier this month. That is good news for stainless steel supply in the U.S., but the strike in Sudbury continues, which should keep the trading price of nickel bullish. In more bad news for the industry however, ports at South Africa have closed due to violence and looting there. While this may not seem important to the industry on its face, South Africa remains the main supplier of ferrochrome to the world and if these port disruptions continue, the price of stainless steel could face even more pressure. More below on this story, plus other news of interest including US steel production at a 13 year high, new guidelines on the Buy American Act, and a commentary titled 'What if steel prices don't return to 'normal'. National news reports coffee prices are on the rise, but wood prices, which were skyrocketing earlier this year, fell 40% as supply pressures eased and speculators took profits and bailed. It's the middle of the week, and nearly the middle of the month, and a few weeks past the middle of the year. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.35/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper eases as U.S. inflation data stokes policy tightening fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3538
  • SHFE Stainless Steel  Futures (yuan) -  17,850
  • Consumer Price Index - June 2021 - pdf here
  • Real Earnings - June 2021 - pdf here
  • Geojit Nickel Report - pdf here
  • Current US Inflation Rates: 2000-2021 - 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 slides after decline in Chinese imports - Copper steadied on Tuesday but came under pressure from falling imports by top consumer China and climbing inventories raised worries about demand while a stronger dollar also weighed. - more

      USW ratifies contract with ATI - Members of the United Steelworkers union working at Allegheny Technologies Inc. ratified a proposed contract that ends a strike at the Pittsburgh metals company that began March 30, the USW reported late Tuesday. - more

      Nickel prices driven to record high by China's cut of reserve requirement ratio - China’s stainless steel prices have risen by 25% since the end of April. The People's Bank of China (PBoC) announced to cut the reserve requirement ratio (RRR) for banks, which has further boosted copper and other industrial metals' prices. - more

      US steel utilization rate at 13-year high - Production in the south helped push US steel utilization rates to their highest levels since 2008. - more

  • Here is a rundown of the major steelmakers latest production and capacity investments announced this month. - more

      Charging Infrastructure is the backbone of EV Revolution - Parul Chabra explains how the transformation in road transportation brought about by a shift towards E-mobility is causing pathbreaking changes along the value chain. - more

  • Digging deeper: Trends in underground hard-rock mining for gold and base metals  - more

      What if steel prices don’t return to “normal”? - If you have been keeping a close watch out for the inevitable fall in steel prices, you’ve probably heard this phrase quite often in recent weeks: “Look what happened in lumber.” - more

      Federal guidelines set for those looking to bypass Buy American rules - Key federal agencies responsible for adhering to Buy American laws are now figuring out how to implement White House guidance issued in June. - more

      Force Majeure Declared as Violence Disrupts South African Ports - The South African logistics company Transnet that oversees the operations of the country’s ports and terminals declared force majeure on July 12 announcing that it is suspending terminal operations in both the ports of Durban and Richards Bay. - more
  • South African crowds rampage, hospital operations disrupted - more

      Why Slowing Deep Sea Mining Benefits All Involved - Renewables were the sole energy source to increase in demand in 2020 and through the pandemic, the International Energy Agency (IEA) reported in May. - more

      Australia Stainless Steel Development Association new articles

  • Structural design of stainless steel - more
  • Terrigal Boardwalk - Stainless sets the scene - more
  • Stainless steel ignites luxury, style and warmth - more
  • Lighting up Chinatown - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China’s Export Growth Unexpectedly Accelerates in June - more
  • Fastenal Reports Steady Q2 as Construction Boom Balances PPE Sales Dip - more
  • Futures, Stocks Mixed as Traders Weigh Policy Path: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Tuesday, July 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.48/lb ($18,690/tonne). Indicators at 6:00 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just over the 226,200 tonne level. We are in that mid-month, news drought period, where industry news is harder to find. Did find an interesting article by the World Socialist web site, that gives some interesting details of the USW - Allegheny tentative agreement, including two planned plant closures. The Socialists want the union members to reject the offer in today's vote - that would be surprising. Stay safe out there and have a great day.
  • Average price of LME traded cash nickel so far this month - $8.33/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper supported by China trade data, inventories weigh - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3538
  • SHFE Stainless Steel  Futures (yuan) -  17,510

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 worries knock copper market sentiment - Copper prices slipped on Monday on concerns about demand prospects in top consumer China where economic recovery appeared to be slowing, while rising inventories reinforced negative sentiment. - more

      Top U.S. Stainless Steel Maker Roiled by Supply Chain Woes - In another sign of how supply chains are being snarled all over the world, a leading U.S. maker of stainless steel was forced to declare force majeure at its Kentucky mill because it can’t get enough of the industrial gases it needs. - more

      Russia considers measures to tap mining profits once export tax ends - Russia is considering longer-term measures to grab a bigger slice of mining companies’ profits once a temporary export tax finishes at the end of this year, according to people familiar with the matter. - more

      Russian stainless steel imports increase in May m-o-m, y-o-y - According to statistics from the Russian Special Steel and Alloys Consumers and Suppliers Association (USSA), in May, Russia's stainless steel imports increased by 23.3% month on month and 22.9% year on year to around 40,100 tons, and China once again became the main supplier, accounting for 55.8% of the total. - more

      [Title of article, no endorsement] Vote No to USW's sellout deal at ATI! Form rank-and-file committees to end the isolation of the strike! - The World Socialist Web Site calls on Allegheny Technologies (ATI) workers to vote down the tentative agreement proposed by the United Steelworkers union this Tuesday. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Living with COVID-19: Israel changes strategy as Delta variant hits - more
  • Futures Steady Ahead of Earnings, Inflation Data: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Monday, July 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.50/lb ($18,740/tonne). Indicators at 6:00 am CST today show nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started this week just under the 227,000 tonne level. Friday was the fourth consecutive drop of over 1,200 tonnes, with stockpiles numbers already down over 5,500 tonnes this month. The trading price of nickel bounced sharply on Friday, with pricing hitting levels not seen since early March. Across the board, metals are trading lower this morning, so its hard to know if nickel is doing anything today besides 'following the pack'.  Friday's bounce 'may' have been due in part to a decision by China to loosen up its lending regulations, in a move seen to stimulate growth there. As we all know, what happens in China, matters when it comes to base metal trading, although the decisions they seem to be making lately are merely reactionary. Here in the U.S., for those who have inventory, the good times continue. To give you an idea of the 'difficulties' some stainless steel sheet and plate distributors are having these days, we received an email from a long time reader on Friday, titled "I Have Never Seen This In My 42 Years". I do not have permission to identify this Midwestern US reader, nor his employer, but suffice it to say that the list of supply challenges, primarily the severe lack thereof, he was seeing on a daily basis, are simply incredible. This was exacerbated on Thursday with news that a "major mill ran out of oxygen..." The 'have stock' are in the driver's seat at the moment, with inventory worth, and selling for, a premium. It's a new week, and the unofficial three months of summer are nearly half way over. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.31/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - China demand worries knock copper market sentiment - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3525
  • SHFE Stainless Steel  Futures (yuan) -  17,430
  • U.S. Economy in a Snapshot - 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 - Nickel hits four-month high; copper jumps on China move - Nickel prices hit their highest in four months on Friday on firmer seasonal demand and renewed buying by investors bullish on the metal’s prospects in a green economy. - more

      Is steel price likely to be cut in July? - Steel prices are likely to see a downward revision in July 2021, according to metal analysts. Likelihood of global price cuts may impact the Indian prices as well. - more
  • China iron ore futures post 4th week of losses on steel output control worries - more

      China's stainless steel consumption has much room for development - The per capita consumption of stainless steel in economic powers such as the EU, South Korea, and Japan reached 32 kilograms in 2020, while China had only 18 kilograms. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Mixed as Earnings Season Approaches: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Friday, July 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.33/lb ($18,355/tonne). Indicators at 6:50 am CST today show nickel trading around $.16/lb higher. Stockpiles of nickel stored in LME licensed warehouses took another large hit on Thursday and ended that session just over the 228,600 tonne level. All base metals are trading higher at the moment, but none stronger than nickel. Nickel punched through a major line of technical resistance this morning, and is trading at its highest level since March 1st. No real smoking gun out there for a reason, as this appears to be more of a technical move, rather than one based on fundamentals. On the fundamentals side, the amount of nickel leaving LME warehouses is somewhat surprising, in light of the fact we are supposedly in the 'slow period' for stainless steel production. Like other supply and demand signals we used to find beneficial, the fact the EV industry is quickly becoming a major player in nickel demand, may effectively disguise any future slow periods in the stainless industry. And as we stated earlier this week, we are not living in typical times. Very few industries, stainless steel included, are seeing a 'slow period' this year. With that we leave you with the news of the day. Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $8.29/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Nickel hits four-month high; copper jumps on China move - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3587
  • SHFE Stainless Steel  Futures (yuan) -  17,450
  • Fastener Distributor Index - 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

     Thursday's market review - Copper slips as Fed maintains taper timeline - Copper prices dipped on Thursday after the U.S. Federal Reserve confirmed plans to tighten monetary policy sooner than expected. - more

      Improving prospects for stainless steel and nickel markets - Outlook is bright despite fears of inflationary pressures on raw materials. - more

     Chart of the Day: Nickel production sufficient... until 2025 - The nickel market is likely to be influenced in the future by two variables, demand from the electric vehicle industry and the ramp-up of production in Indonesia. - more

      Nickel industry sees growth momentum continuing after issuance of mining EO - The Philippine Nickel Industry Association (PNIA) said it expects growth momentum for the industry to continue with the issuance of an executive order lifting the freeze on new mining agreements. - more

      Can China’s import of recycled steel take the heat off iron ore prices? - As iron ore prices surge to never seen before highs, propelled by recovering global steel demand, an increasingly popular narrative is making its rounds in China on the potential of replacing, or supplementing, the Fe element in steelmaking with recycled steel, following China's lifting of import restrictions on ferrous scrap in January 2021. - more

      Deep sea mining carries unknown risks to sealife, scientists warn - The prospect of mining the seafloor is prompting calls for more research about its potential impact on the ocean and sea life. - more

      Envy nickel trading boss alarmed some banks in Singapore long before his arrest - The trader charged with orchestrating what police describe as one of Singapore's biggest suspected investment frauds began setting off alarm bells at banks more than a year before his arrest in February, according to people familiar with the matter. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Steady as Stocks Rise, Bond Rally Stalls: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Thursday, July 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.31/lb ($18,325/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell sharply on Wednesday and ended that session just below the 230,000 tonne level. That is the lowest they have measured since April of last year. The commodity board was a sea of green yesterday, and mostly red today. For anyone interested, the Fed meeting minutes are posted under Reports. This reminder that the Fed might raise interest rates sooner than first thought, has reminded the rate dependent market their free 'high' may soon be ending. Another light news day. New Caledonia has a new President and amongst other things, he is a current board member of a nickel mine there. That could be good, and might be bad. On the good side, he appears to be pro nickel and should be supportive of mining efforts there. On the flip side, he is well versed in the industry, and thus may look to Indonesia as an island model to follow. And as we are witnessing in Russia, nickel exports can be used as a source of additional revenue by governments. On a side note, Japan issued a new covid state of emergency today, which in this day and age, isn't really news beyond their borders, but aren't the Summer Olympics scheduled to be held there in a few weeks? Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.30/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper dips on Fed minutes and dollar strength - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3612
  • SHFE Stainless Steel  Futures (yuan) -  17,300
  • Distributor's Link Magazine Summer 2021 - online here
  • Minutes of the Federal Open Market Committee, June 15-16, 2021 - 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 rises as investors await Fed minutes - Copper prices rose on Wednesday, recouping losses from the previous session, as investors waited for the release of minutes from the latest Federal Reserve meeting. - more

      How Indonesia’s EV plans will shape its relations with the US and China - The market for electric vehicles is projected to explode over the next decade, making lithium-ion batteries an increasingly important geostrategic resource - more

      New Caledonia elects first pro-independence Kanak president - Louis Mapou was elected this morning in Noumea after months of negotiations between the two main pro-independence Kanak political groupings UNI and UC FLNKS. - more

      Pressure to decarbonize: Drivers of mine-side emissions - As stakeholders pressure mining companies to reduce emissions, operations must monitor their environmental impact and ultimately move toward zero-carbon mining. - more

  • EC's initial carbon tax rules set to shift trends, raise steel, aluminum costs - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Reflation Angst Spreads to Stocks as Yields Slide: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Wednesday, July 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.16/lb ($17,995/tonne). Indicators at 6:00 am CST today show nickel trading around $.13/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and ended that session just above the 231,300 tonne level. Nickel closed below the $18,000/tonne level yesterday, for the first time since June 22nd. It was by only $5 and is trading back above that level this morning, but this morning's rally appears to be motivated by an overall positive shift among traders, possibly driven by the Dollar - as the entire commodity board is green at the moment. So will yesterday's close spook the bulls into another rally effort, or will it motivate the bears to short the market? We will have to wait and see who wins this round. Not a lot of news out there. More on the tentative agreement between Allegheny and the USW below and we learn that it will take a few weeks to get people there back to work. Vale workers in Sudbury have been out on strike a little over a month now, and there is no news coming out of there. It's already hump day for this shortened week. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.29/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper rises as dollar rally halts ahead of Fed minutes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3612
  • SHFE Stainless Steel  Futures (yuan) -  16,750
  • The PUC Report July 2021 - pdf here
  • Iron Ore 62% fe increased 61.74 USD/MT or 39.62% since the beginning of 2021.... - chart
  • Recycling Today July 2021 - online 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

     Tuesday's market review - Copper slips from three-week high as dollar strengthens - Copper prices pulled back from their highest level in about three weeks on Tuesday after the dollar rebounded and oil prices slipped. - more

      Russia's stainless steel output drops in Jan-May y-o-y - According to statistics from the Russian Federal State Statistics Service (Rosstat), Russia's stainless steel output totaled around 83,000 tons in the first five months of this year, sliding by 4.5% compared to the same period a year ago. - more

      Voting results on tentative labor pact between USW and ATI expected next week - The United Steelworkers union representing striking workers at nine Allegheny Technologies Inc. locations said Tuesday that it expects to announce the results of a ratification vote on a proposed contract on July 13. - more

      Courtesy AISI - In the week ending on July 3, 2021, domestic raw steel production was 1,842,000 net tons while the capability utilization rate was 83.0 percent. Production was 1,306,000 net tons in the week ending July 3, 2020 while the capability utilization then was 58.3 percent. The current week production represents a 41.0 percent increase from the same period in the previous year. - more

      Singapore ups bail of alleged billion-dollar fraudster over escape fears - A Singapore court has tightened bail conditions for a businessman accused of involvement in a bogus, billion-dollar nickel trading scheme after the prosecution said plans were afoot to help him flee the country. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Who "Moved" the Position of a U.S. Navy Ship From Odessa to Crimea? - more
  • Futures Rise With Stocks Ahead of Fed Minutes: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Tuesday, July 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.32/lb ($18,345/tonne) and Monday's session at $8.34/lb ($18,390/tonne). Indicators at 5:50 am CST today show nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Friday and fell slightly on Monday and started today just over the 232,500 tonne level. Nickel is testing strong resistance again, and making its 4th attempt since May 31st of punching through and moving higher. While most of the world is tired of hearing about covid, smart nickel traders and those in the stainless steel industry, should keep one eye turned in that direction. Two of the largest nickel producing countries in the world, Indonesia and Russia, are experiencing surges in covid cases and are both seeing all time record high daily death figures. Not only do these outbreaks threaten those who work in the mines, but also those involved in getting the nickel processed and/or moved to other destinations. Demand is setting records - more supply disruptions can only add pressure to the trading price. Typically, July starts a summer slowdown in stainless steel production, but we doubt we will see that this year. Nickel traders have started the second half of 2021 in a bullish mood, and stainless steel producers are already having difficulties meeting demand. For now, there is money to be made by those who have the inventory to sell. Stay safe out there and have a great, albeit short, week.
  • Average price of LME traded cash nickel so far this month - $8.25/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper touches 3-week high on renewed worries about inflation - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - no story posted
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3614
  • SHFE Stainless Steel  Futures (yuan) -  16,900
  • May 2021 Trade Gap is $71.2 Billion - more
  • U.S. International Trade in Goods and Services - pdf here
  • Imports of Nickel in the United States increased to 210 USD Million in May from 175.51 USD Million in April of 2021 - more
  • Manufacturers' Shipments, Inventories, and Orders - pdf here
  • U.S. Imports for Consumption of Steel Products May 2021 Final Report - pdf here
  • Swiss Steel Stainless Surcharges - pdf here (see bottom for average costs)

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 prices buoyed by bargain hunters, U.S. data - Copper prices ticked higher on Friday as some investors regarded the recent downturn as a buying opportunity and after upbeat U.S. jobs data. - more

  • Monday's market review - Fundamentals shaky, but funds fuel copper's rise to 2-week peak - more

      Steelworkers Reach Tentative Agreement with ATI to End Three Month Unfair Labor Practice Strike - The United Steelworkers today said that the union has reach tentative agreement with ATI on a four-year contract covering 1,300 workers at nine facilities who have been on strike against unfair labor practices since March 30, 2021. - more

      Taiwan's 316 stainless steel price surges due to high molybdenum price - Taiwan's stainless steel mills announced to raise their prices by NT$2,000~8,000/ton for July, of which the surcharge of 316L increased sharply by NT$5,000~8,000/ton. - more

      Japan's Sumitomo Metal to invest $424 mln to boost battery materials output - Japan's Sumitomo Metal Mining Co Ltd said on Tuesday it would spend 47 billion yen ($424 million) to boost production capacity of cathode materials for rechargeable batteries used in electric vehicles (EVs) to meet burgeoning demand. - more

      U.S. imports of Stainless steel, not less than 600mm wide increased 13.88 percent from $228.21 million to $259.88 million through the first five months of 2021 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. exports of Stainless steel, not less than 600mm wide increased 20.34 percent from $251.34 million to $302.46 million through the first five months of 2021 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. imports of Misc. stainless steel bars, rods increased 9.43 percent from $170.25 million to $186.31 million through the first five months of 2021 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  •  U.S. exports of Misc. stainless steel bars, rods decreased 11.89 percent from $141.54 million to $124.71 million through the first five months of 2021 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • Search for 'nickel' or any item like 'screws' at US Trade Numbers

      ‘Made in USA’ cheats to face fines as FTC steps up enforcement - Companies inaccurately using “Made in USA” labels will be subject to fines under a Federal Trade Commission rule that requires marketers prove their products are “all or virtually all” made in the country. - more

  • FTC Complying with the Made in USA Standard - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Container freight rates up 346% in a year - more
  • Stocks Steady With U.S. Futures as Oil Surges: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Friday, July 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.21/lb ($18,100/tonne). Indicators at 6:10 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and ended that session just under the 231,400 tonne level. That is 231 not 331, as we printed yesterday, and a couple of readers brought to our attention. We apologize for the fat finger. Nickel is showing signs of running out of gas again, with strong resistance holding. That is not to say the bulls won't make another attempt, but we have been here about five times since mid April, and all have ended in retreat. Your average raw material costs for June 2021, and how they compared to May, were as follows - Nickel - $8.14/lb , Chromium - $4.00/lb , Molybdenum - $17.83/lb , and Iron - $1.04/lb . PMI Manufacturing Indexes have been updated (here) and if you are seeking a different monitoring agency or country than what we follow, see the Global Economic Indicator Report under Reports. Yesterday we started the second half of 2021, and we are now closer to 2022 than we are to 2020. Hopefully, during the first half of 2021, your goals were met in the face of supply challenges and logistical adversity. If not, life has handed you a clean slate and a fresh do over. July 4th is a national holiday here in the U.S. - the day we celebrate our Independence. Since it is on a Sunday, the business world will close on Monday. So our next update will be on Tuesday. Stay safe out there and have a great holiday weekend!
  • Average price of LME traded cash nickel so far this month - $8.20/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper set for weekly decline as firmer dollar, weak China demand weigh - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - no report posted
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3601
  • SHFE Stainless Steel  Futures (yuan) -  16,520
  • ISM Report On Business® Roundup: June Manufacturing PMI - more
  • New Foreign Direct Investment in the United States, 2020 - more
  • Global Economic Indicators: Global Manufacturing PMIs - 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

     Thursday's market review - Chinese data weighs on copper; fund buying supports - Copper came under pressure on Thursday as weak manufacturing data from top consumer China and a stronger dollar undermined sentiment, though fund buying offered some price support. - more

      CRU - When will stainless prices fall from multi-year highs? - Global stainless prices have exhibited strong upward momentum, especially in Europe. - more

      Shanghai steel futures extend gains to 7th day on output curbs - Chinese steel futures rose for a seventh straight session on Thursday on lingering concerns over supply prospects as the world’s top producer of the construction and manufacturing material seeks to reduce output this year. - more
  • China steel market expected to weaken in July amid rising inventories: Platts Analytics - more

      AISI Releases Annual Statistical Report For 2020 - The American Iron and Steel Institute (AISI) today announced the release of its 2020 Annual Statistical Report (ASR), which provides comprehensive data on the American steel industry and select data on the North American steel industry as a whole. - more

  • US steelmakers hustling to meet roaring demand after pandemic-hit 2020: executives - more

      Extreme Freight Rates Begin to Change Shippers' Calculations - The containerized shipping industry has been essential to global commerce for its low shipping costs. However, high freight rates are starting to have an impact on consumer goods. - more

  • Republican Senators Urge Biden to End Trump-Initiated Trade War - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Fluctuate as Traders Await Payrolls: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Thursday, July 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.26/lb ($18,220/tonne). Indicators at 5:500 am CST today show nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended June just under the 221,500 tonne level. That's an over 14,500 tonne drop in stockpiles last month, and nearly 16,500 tonne drop for the year. Slower news day although its all industry relevant. Stay safe out there and enjoy the downhill slide.
  • Average price of LME traded cash nickel so far this month - $8.14/lb (average June)
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper dips on slowing China factory activity - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3723
  • SHFE Stainless Steel  Futures (yuan) -  16,865
  • Fed State Coincident Indexes - 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 on track for biggest monthly decline since March 2020 - Copper on Wednesday was on track for its biggest monthly fall since March 2020 as a stronger dollar, the threat of tighter U.S. monetary policy and moves by China to keep a lid on prices pulled the metal from record highs. - more

      Taiwan’s Tang Eng raises stainless steel prices for July, same increase as Yusco - Tang Eng Iron Works Co., Ltd., one of the main stainless steel manufacturers in Taiwan, announced to raise its new stainless steel prices for July today (June 30), the same as the price increase of Yieh United Steel Corp. (Yusco), another main stainless steel producer in Taiwan. - more

      EU stainless buyers scrambling to secure tonnages for 2022 - European coil and sheet transaction values continued to rise in June. Further increases are already on the horizon for July. Few market participants see any imminent downward correction in prices. - more

     Colombia first-quarter coal output down 28% on year, gold production up 23% - Colombia's coal production fell 28% in the first quarter of 2021 versus the year-earlier period, the national mining agency (ANM) said on Wednesday, due to changing coal prices and the effects of the coronavirus pandemic. - more

      Phase Composition of Austenitic Stainless Steels in Additive Manufacturing: A Review - Additive manufacturing (AM) is among the novel industrial technologies for fast prototyping of complex parts made from different constructional and functional materials. - more

   Other News

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

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  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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