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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Market

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Monday, June 17

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $5.38/lb . Indicators at 6:20 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and started the week just over the 167,100  tonne level. Nickel stockpiles are now back to where they were this time last month, and thus the mid month daily deficit report we post, is kaput this month. We started the month just over the 158,600 tonne level, so we have seen a rather large daily increase for the first half of this month. This, with a stronger US Dollar, is hurting any attempted bull run by traders. The $12,000 tonne level continues to put up resistance, and this morning's attempt has pushed nickel back to $5.37/lb. The news of flooding and landslides in Indonesia has helped add some stability to the market, but not much more than that. Nickel's closing for the last three days of last week were $5.37/lb, $5.37/lb, and $5.38/lb. And its currently trading around ..... $5.37/lb. So while we call last weeks run bullish, in fact, it was more of a stability move, and any attempt by the bulls to take the price of nickel over the $12,000/tonne level, and they have tried daily since last Tuesday, have failed. Technical indicators, thus, remain negative. Besides Indonesia, news remains on the light side, typical for the summer season. Even in Indonesia this is the typical peak of the dry season, so the timing of the floods there is not the norm. We hope your week, if eventful, is a beneficial one, and if not, a healthy one.
  • Average price of cash nickel so far this month - $5.34/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Nickel rises on supply fears but strong dollar caps gains - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more
  • U.S. Exports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • U.S. May Order Funds to Dump Chinese Stocks, Activist Webb Says - more
  • Stocks Trade Mixed as Focus Turns to Central Banks: Markets Wrap - more

     Friday's market review - Copper slides as China data dents demand prospects - Copper prices fell on Friday after weak manufacturing and investment data from top consumer China reinforced expectations of damage to growth and demand prospects from the protracted U.S.-China trade war. - more

      Landslides cut off access to cities, nickel mine in northern Sulawesi - Massive landslides have cut off the main road connecting Palu, Gorontalo and Manado in the northern part of Sulawesi just as thousands of Idul Fitri travelers were making their way home. - more

      Afarak’s South Africa woes show risks of mining geared to China - South African miners that are geared to Chinese demand are walking a tightrope between high domestic electricity costs and the prospects of economic slowdown in China. - more

      London Metal Exchange slaps alcohol ban on open outcry traders - The London Metal Exchange has banned open outcry traders from consuming alcohol during the day, it said on Friday, joining other London firms in halting a culture of boozy lunches. - more

      Taiwanese stainless steel scrap exports to Indonesia surge in Apr - According to the statistic from the Taiwanese customs, Taiwanese stainless steel exports had shown a dramatically increase in April. - more

      EPA inspector general will audit PolyMet permit - Further scrutiny after documents were released detailing the EPA's concerns on a draft permit for Minnesota's first copper-nickle mine - more

     What is BHP Nickel West searching for under the Nullarbor? - On several occasions in the past five years, BHP has tried to sell its WA-based nickel division, Nickel West. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, June 13

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Wednesday's trading session at $5.37/lb . Indicators at 6:20 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just over the 163,700 tonne level. Nickel is getting a boost from some actual supply and demand news this morning. although the effect was tempered by a report. Pig nickel production in Indonesia is being adversely affected by serious flooding in Indonesia this week, while a report issued by a respected metals analyst. Wood Mackenzie analyst Andrew Mitchell stated that nickel supply and demand would be fairly balanced for the reminder of the year, with a $5.58/lb price prediction for the year. When the Indonesia news hit markets, nickel spiked to just over the $12,000/tonne level again, but has slipped back under since. Technically, or psychologically. the $12,000 tonne level is offering some resistance to traders. This is our final update for the week, so we hope each of you has a safe and relaxing weekend and invite you to stop by next week as we follow the nickel industry and other factors affecting stainless steel markets. 
  • Average price of cash nickel so far this month - $5.32/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Base metals fall amid trade uncertainty, weak China data - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Why Nickel Could Play its Part in Lifting BHP’s Share Price - more
  • U.S. Futures, Europe Stocks Climb as Oil Rebounds: Markets Wrap - more

     Wednesday's market review - Copper ticks lower on weak China data, aluminium up - Copper slipped on Wednesday after weak data from the economy of top metals consumer China, but other industrial metals prices edged higher on hopes for more stimulus. - more

      Nickel prices under pressure from vanishing deficits - Rapidly rising nickel supplies and slowing demand from stainless steel mills are weighing on prices of the metal, which are likely to come under further pressure this year as deficits disappear. - more (contains some nice charts)

      Thousands Evacuated After Floods Hit Indonesia - Indonesian authorities warned of more flash floods and landslides after days of flooding forced the evacuation of more than 5,000 people from Central and Southeast Sulawesi, the nation’s main nickel ore producing region. - more

      Taiwanese Tang Eng has losses in sales performance due to high nickel price in 2018 - Tang Eng Iron Works Co., Ltd., one of the main stainless steel manufacturers in Taiwan, announced its financial report on June 12th. - more

      South Africa's Cr Ore Export in April 2019 Is 1.2951 Million Tons - According to the foreign trade statistics of South Africa, the export volume of chrome ore (material quantity) in April 2019 was 1,295,103 tons, up by 7.7% from 1,202,707 tons in the prior month. - more

      Courtesy AISI - In the week ending on June 8, 2019, domestic raw steel production was 1,875,000 net tons while the capability utilization rate was 80.6 percent. Production was 1,815,000 net tons in the week ending June 8, 2018 while the capability utilization then was 77.4 percent. The current week production represents a 3.3 percent increase from the same period in the previous year. Production for the week ending June 8, 2019 is down 0.8 percent from the previous week ending June 1, 2019 when production was 1,890,000 net tons and the rate of capability utilization was 81.2 percent. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, June 12

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $5.39/lb . Indicators at 6:20 am CST today show nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just under the 164,000 tonne level. Nickel barely broke the $12,000/tonne level yesterday. It was the first time this month that level was seen. After punching thru, the traded price collapsed afterwards and we are running nearly $200/tonne off that level at present. While we make a big deal of that level, we were there just a few weeks ago, on May 31st to be exact. Most technical indicators appear to be sending sell signals with support at $5.25/lb and resistance at $5.46/lb. US estimated sales for electric vehicles in May came in shy of 28,400, compared to just over 24,300 cars last May. Another slow news day.
  • Average price of cash nickel so far this month - $5.32/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Copper eases amid slowdown worries, lingering trade woes - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • The big copper short is back as macro fears return - more
  • Top Steelmaker Warns of Price Hikes as Iron Ore Near 5-Year High - more
  • Trump Says He's Holding Up Trade Deal With China Ahead of G-20 - more
  • Stock Rally Stalls as Treasuries Climb; Oil Drops: Markets Wrap - more

     Tuesday's market review - Chinese stimulus hopes support copper - Copper prices touched their highest in two weeks on Tuesday, lifted by hopes that top consumer China will pump money into building metals-intensive infrastructure. - more

      Loading nickel ore in the Philippines or Indonesia - The mandatory notification requirement for the carriage of nickel ore loaded in Philippines and Indonesia still applies. - more

     Nickel projects attracting increased investor confidence and interest - Roskill’s Thomas Höhne-Sparborth discusses with Proactive London’s Andrew Scott the outlook for Nickel - more

      Tesla might get into the mining business to secure minerals for electric batteries - Tesla might get into the business of mining minerals used in electric vehicle batteries if it wants to expand its product lineup and scale production, CEO Elon Musk said during the company’s annual shareholder meeting. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, June 11

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Monday's trading session at $5.29/lb . Indicators at 6:15 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Monday and started today just under the 163,900 tonne level..... again. Nickel is trading higher this morning, with the commodity trading board much greener than it has been. This could send the market a bullish technical signal... and then again, it might not. At the moment, nickel has not quite made it back to where it was this time last week. While some morning media is claiming nickel is following the overnight Shanghai Metals Market, that would be untrue as SMM nickel closed lower overnight. Chinese steel futures did jump however. Nickel is trading above its 10 day moving average, so it will be interesting to see if it can hold on to its current gains. Another quiet day on the news side, as markets appear to be relieved by the president's decision not to add tariff's on Mexico. For the moment at least, tariff attention turns back to China. President Trump is now warning Chinese President Xi if he does not attend the G-20 and meet with President Trump later this month, then he will immediately implement more tariff's. Markets appear to be shrugging this comment off as just another threatening tweet. If President Xi was planning to attend, he may be giving that another thought today, with national pride now being challenged by the U.S. President. Not exactly a negotiating tactic we have ever heard of.
  • Average price of cash nickel so far this month - $5.32/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Copper rises on demand hopes, nickel up as steel surges - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Germany Gets a Recession Warning as Investor Confidence Plunges - more
  • U.S. Small-Business Optimism Climbs to Highest in Seven Months - more
  • Equities Rise With U.S. Futures; Treasuries Steady: Markets Wrap - more
  • Positive IOD likely for winter; El Niño WATCH remains - more

     Monday's market review - Aluminium bounces after hitting 29-month low on China trade data - Consumer buying and short-covering helped aluminium to bounce on Monday from its lowest since January 2017 after data showed an upswing in exports from top producer China, fuelling worries about oversupply. - more

     Indonesia floods affect shipment of nickel ore  - Floods in three provinces of Sulawesi, Indonesia affected the loading of nickel ore at ports and production of local nickel pig iron (NPI) mills, an SMM survey found on Tuesday June 11. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, June 10

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $5.27/lb . Indicators at 6:25 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and Friday of last week and started this week just under the 163,900 tonne level. Stockpile numbers start the week well ahead of the first of the month, a rather unusual situation for the year. Nickel is trading slightly higher this morning, but the market appears to be trying to slow down the bear, rather than starting any kind of bullish run. Nickel is once again trading at levels it was back in January, with the next technical support level at $5.19/lb. An article about nickel appeared in last weeks 'Wall Street Journal' and we address the opening sentence. "The U.S.-China trade conflict has eroded the prices of most commodities, but one metal critical to rechargeable batteries is bucking the trend. Nickel prices have risen 9.1% so far this year to $11,666 a metric ton,...." This article implies that nickel is 'bucking the trend' caused by the US-China trade war. In our opinion this is the kind of information you get when a reporter decided to write an article on a topic they should study a little more on. The trade war began in March 2018 when President Trump announced the first round of tariff's on China. They began on March 23rd. On that day, nickel closed at $5.92/lb. Nickel would continue to climb until May 1. 2018 when nickel peaked at $6.92/lb. After a deep slide, nickel would bottom out on December 1st, 2018 at $4.84.lb, followed by a bump that lasted two months, talking nickel back up to $5.89/lb, where it has been sliding since. Cross your eyes, stomp your feet, do whatever you need to do to convince your readers that pigs can fly, but our daily readers are well aware that nickel has bucked no trend during this trade war and in an up and down market, one can pick and choice a starting point to support an agenda, but an overall trend tells the real story. Have a great week.
  • Average price of cash nickel so far this month - $5.33/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Copper rebounds as U.S.-Mexico deal calms nerves - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more
  • U.S. Imports of Stainless Steel Mill Products - more
  • Jumps in Commodity Markets June 2019 - Marex pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Interview: U.S. causing dangerous disruptions to global value chains, says expert - more
  • China's newest threat to the U.S. tech industry: Cutting off access to rare earth metals - more
  • Stocks Rise, Treasuries Dip on Mexico Trade Relief: Markets Wrap - more

     Friday's market review - Copper stumbles towards eighth consecutive weekly loss - Copper prices were set for their eighth straight weekly fall after trade disputes, signs of slowing global economic growth and disappointing U.S. jobs data weakened the demand outlook for metals. - more

      A detour for nickel - Stainless steel continues to shine as the foremost consumer of the world’s primary and scrap nickel resources. A global shift toward electric vehicles , powered in part by nickel-containing batteries, however, could make a dent in the stainless industry’s dominant presence. - more

      Base metals: Mincor hones its nickel focus, but hits 7,610g/t gold in the process - Mincor Resources is going all in on nickel following a strategic review of its operations, but not before making a bonanza grade gold find. - more

      Norilsk Nickel 'Not Really' Feeling the Impact of a Trade War: CEO - Vladimir Potanin, chief executive officer at Norilsk Nickel, discusses digital technology in the commodities market, the impact of trade on his company, the threat of U.S. sanctions, and the leadership of Russian President Vladimir Putin - video here

       Zim rakes in US$1bn from minerals in Q1 - Zimbabwe’s mineral production reached US$970,5 million in the four months to April with gold accounting for 38% of that amount at US$383,8 million, official data has shown. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, June 6

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Wednesday's trading session at $5.32/lb . Indicators at 6:20 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just under the 164,000 tonne level. According to the China index we follow, stainless steel prices are running just over 3% lower this quarter than last and nearly 2-1/2% lower than this time last year. Steel futures in that country, which went on the decline mid May, appears to be trying a recovery this month, but so far, attempts appear to be unsuccessful. We are starting to see US sales estimates being tallied for electronic vehicles and the sales increase for May appear to be healthy. Thru April, worldwide sales of EV 's totaled just over 660,000 this year, compared to 430,000 thru April last year. Nickel is trading below a support level it surrendered yesterday, and unless it can climb back above it today, it could send another bearish technical signal. So as of today, nickel is up 8-1/2% on the year, or off nearly 14% in just the last quarter. Both are right, but bulls trying to sell this as a good year, are painting lipstick on a pig. This is our last update for the week, so we wish our readers a safe and relaxing weekend and invite you back next week.
  • Average price of cash nickel so far this month - $5.36/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Shanghai copper hits 2-year low on demand concerns - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more (closed Friday for Dragon Boat Festival Holiday)

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Money Talks: Nickel and zinc are this expert’s hot stock picks - more
  • Trade War Ended China's First Bull Market After Only 69 Days - more
  • Interview: China sends positive messages in white paper on trade, says U.S. expert - more
  • U.S. Futures, Europe Stocks Climb Alongside Bonds: Markets Wrap - more

     Wednesday's market review - Copper hits five-month low as U.S.-China trade dispute weighs - Copper sunk to a five-month low on Wednesday as a firmer dollar and anxiety about the fallout on growth and demand from the U.S.-China trade dispute outweighed dovish comments from the U.S. Federal Reserve chairman. - more

       Stainless steel output in China to be cut by 50,000 tons in Jun due to maintenance in weak market - It was reported that the maintenance across China's stainless steel plants in June would cut output of 200 series by around 50,000 tons, but it seemed the 300 series will face very limited impact. - more

      China sees higher output of refined nickel in May – China’s output of refined nickel increased slightly by 1.34% on month in May, according to latest SHMET survey. - more

       Trump's Cuba gambit pushes Canadian miner Sherritt to the brink - Sherritt International Corp., whose executives were once known as Fidel Castro’s favorite capitalists, is paying the price for its close ties to the struggling Caribbean nation. - more

      Papua New Guinea PM says resources reforms will take years - New Papua New Guinea Prime Minister James Marape doubled down on his plans to earn more taxes from the gas-and-gold-rich country’s natural resources sector on Wednesday, but said major reform would not take effect for years. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, June 5

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $5.36/lb . Indicators at 6:15 am CST today show nickel trading unchanged so far today. Stockpiles of nickel stored in LME licensed warehouses rose by a staggering 5100+ tonnes yesterday and now total just over the 164,000 tonne level. While a huge increase on paper, this increase takes us back to where we were in stockpile numbers on May 24th - in fact we are only 6 tonnes shy of where we were on that date. More concerning is the drop in the cancelled warrant percentile over the past month. On the first day of May, 'sold' inventory made up 39.69% of total LME nickel stockpiles. Today, that 'sold' figure only accounts for 32+%. We say sold but long time readers of this blog know that means much more than physical use, so we could be seeing uncertainty by large trading houses and their backing off on investment purchases. If in fact the spike in price we saw before Memorial Day was an attempt to 'shock' the bull into motion, it has proven to be a failure, and unless someone needed to cover some bets by forcing the market into short covering,  driving the price higher, nothing was gained by the move. Case in point, nickel is now trading lower than it was right before the spike. May 9th and May 13th were the low trading price points for nickel since January, and we are now in that territory. This will offer traders a technical support point, albeit a weak one. President Trump is now threatening Mexico with tariff's over the immigration issue. This is risky, as Mexico could counter with a tariff on the drug issue - as we suspect there are more victims in Mexico due to drug production heading to the U.S., than in the US from tomato pickers sending cash home to their family.
  • Average price of cash nickel so far this month - $5.37/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Most metals rise as dollar weakens on dovish Fed comments - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Xinhua Headlines: Decoupling U.S.-China economies "utterly unrealistic," disaster for world - more
  • Why Tiny Magnets Could Be China's Destructive New Trade-War Weapon - more
  • Stocks Extend Gains as Dollar Steadies; Oil Falls: Markets Wrap - more

     Tuesday's market review - Escalating trade war keeps copper pinned at five-month lows - Copper prices hovered near a five-month low on Tuesday as an escalation of the U.S.-China trade war reinforced concern about demand for industrial metals while the weaker dollar provided some support. - more

     Jun maintenance to affect #200 stainless steel output by 50,000 mt - Maintenance across stainless steel producers in June will cut some 50,000 mt of #200 series output, but is likely to have minimal impact on the output of #300 series, an SMM survey found on Tuesday June 4. - more

     Japanese stainless steel imports up in Apr m-o-m - According to the official statistics, Japan imported a total of around 21,000 tons of stainless steel products in April this year, up by 8.5% compared to the same month a year ago. - more

     World’s top miners keep performing but investors unimpressed - The world’s 40 largest mining companies continued to consolidate their stellar performance of the past several years by delivering steady growth in 2018, according to PwC’s Mine 2019 report released today. - more

     Australia's Clean Teq to offload half of battery metals project - (excerpt) But many have stopped short of investing, as buzz over a demand boom dissipates given the uncertain timeline for electric vehicle uptake and subsequent price risk of chemicals like cobalt and nickel sulphate. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, June 4

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Monday's trading session at $5.39/lb . Indicators at 6:20 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Monday and started today just over the158,900 tonne level again. Nickel fell back below the $12,000 tonne level yesterday and is now trading near the level it was before the May 24th price spike was triggered. It will be interesting to see if computer algorithm's react the same this time. Markets appear to be in a sour mood, and have been since the most recent tightening of tension in the US-China trade war. If one is to believe the purchasing manager indexes, then it is apparent both sides are starting to suffer the ill effects from the production standpoint. And American consumers have yet to start feeling the full extent of the price hikes that an increase in cost will bring. As far as market news goes, it is rather quiet out there. The unofficial summer season has started, and by August, it can be really quiet on the daily news front. We will continue to bring you what we can find.
  • Average price of cash nickel so far this month - $5.38/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Industrial metals trade sideways on demand concerns - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Chinese steel futures extend losses amid high output, demand concerns - more
  • Wall Street Is Desperate for Wonks Who Can Explain the Rise of Populism - more
  • Stocks Advance After Tech Rout; Treasuries Decline: Markets Wrap - more

     Monday's market review - no metals updates posted Monday by Reuters

      DMCI Mining more than doubles nickel ore shipments - DMCI Mining Corp. recorded a 118% increase in nickel ore shipments in the first quarter of 2019. In a disclosure on Monday, DMCI Holdings said its mining unit more than doubled its nickel ore shipments to 338,000 wet metric tons (WMT) in the January to March period, from 156,000 WMT shipped a year ago. - more

      Ferrochrome plant shut down; 300 rendered jobless - The workers at the IDCOL-owned ferrochrome plant were worried after its authorities shut down operations from Friday afternoon. - more

      Courtesy AISI - In the week ending on June 1, 2019, domestic raw steel production was 1,890,000 net tons while the capability utilization rate was 81.2 percent. Production was 1,809,000 net tons in the week ending June 1, 2018 while the capability utilization then was 77.2 percent. The current week production represents a 4.5 percent increase from the same period in the previous year. Production for the week ending June 1, 2019 is down 0.1 percent from the previous week ending May 25, 2019 when production was 1,892,000 net tons and the rate of capability utilization was 81.3 percent. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, June 3

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $5.45/lb . Indicators at 6:15 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and rose on Friday and ended the month of May just over the 158,900 tonne level. For the month, the average daily decline in LME stockpile numbers totalled 698.24 tonnes. This is up from April's average of 470.4 tonnes and barely beat March's average of 683.71 tonnes per day.  Nickel is trading back under the $12,000/tonne level this morning, after cash nickel averaged $2 tonne under that level in May. Nickel starts the month of June where it spend most of spring - in bearish territory. Our hope is it's a bullish week - and month - for you.
  • Average price of cash nickel so far this month - $11,998/tonne (average for May)
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - none posted
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more
  • World Steel in Figures 2019 now available - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Gold to dominate PH’s mining sector - more
  • (SO) NDRC: China’s crude steel output up 10.1% in January-April
  • Fears Rise China Could Choke off Supply of Rare Earths in Trade War - more
  • Wall Street Warns of Mounting Recession Risk From Trade War - more
  • China's steel, raw materials weaken as demand outlook dims - more
  • Stocks Slip, Treasuries Rally on Trade-War Angst: Markets Wrap - more

     Friday's market review - Copper set for steepest monthly fall in 3-1/2 yrs amid demand worries - London copper eased on Friday and was on track for a third straight and biggest monthly fall in three-and-a-half years as global trade tensions raised concerns on weaker demand. - more

      A Perfect Storm Is Brewing For Nickel - Years of underinvestment, long lead times for mine development and a coming surge of electric vehicle demand are all bullish factors for nickel, said Michael Beck, managing director at Regent Advisors. - more

      Iron ore sticks to fundamentals as other commodities dance to noise: Russell - While geopolitical concerns have been the prime driver for most commodity markets recently, iron ore has been a standout, trading largely on traditional fundamentals. - more

      Losses drive stainless steel mills into maintenance in Jun – A stainless steel producer in China's south-western province of Guangxi began annual maintenance on its steel and hot-rolled coil capacity as its revenues fell below costs in a falling market, a source told SMM on Monday June 3. - more

      Press Release - For the month of June 2019, North American Stainless will maintain the fuel surcharge of 26% for stainless flat and long products. The surcharge rate is considered a maximum level for June and will be reviewed monthly. - source

      Excess Production Capacity Undermines Stainless Steel Prices - Stainless steel prices continue to show few signs of recovery. Selling values, in Europe, have been below producers’ breakeven levels since a collapse in transaction figures, and the widespread adoption of effective pricing, in the summer of 2018. - more

      Chrome ore exports contribute to stainless steel production - The export of chrome ores from South Africa for use in the ferrochrome smelter of Chinese stainless steel group Tsingshan’s stainless steel plant has contributed to global growth in chrome ore supply. - more

     Elections and Weather Push Axiom’s Island Mining Down - During Q1 of 2019, Axiom Mining was faced with the twin threats of staffing and transportation shortfalls—caused respectively by heavy rainfall and a general election in the Solomon Islands. - more

      RNC poised to advance Quebec nickel project - RNC Minerals Corp., aka Royal Nickel Corp., and joint venture partner Waterton are ready to accelerate discussions with potential participants to advance the Dumont nickel/cobalt project in Quebec towards construction. - more

      Acerinox Not Really At 'Can't Miss' Levels - To whatever extent I’m grudgingly interested in steel stocks today, it’s because some of the valuations appear to be pricing in bleak near-to-medium-term scenarios that don’t seem to fit with what is actually going on in the world (and that’s from someone who is pretty bearish relative to consensus). - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

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