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

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Tuesday, March 31

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $5.13/lb ($11,315/tonne). Indicators at 6:20 am CST today show nickel trading around  unchanged. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started the last day of March just over the 229,800 tonne level. Compared to the last working day of February, LME inventories fell almost 6000 tonnes, after gaining approximately 40,000 tonnes the prior month. Equity markets are mostly trading higher after surprisingly strong PMI numbers from China were released. Base metals traders remain skeptical, as do we. Purchasing managers PMI are supposed to track business experiencing expansion in business compared to contraction. Considering China was closed for business in February, it makes sense that most are seeing a rebound in business, albeit paltry in many cases. So the numbers, in our opinion, are sending a false positive and do not reflect the overall health of manufacturing in China. But good news is hard to find these days, so we will take what we can get. The Phillippines shut down another island, this one a big one for the nickel industry. When this port officially closes for covid-19 containment, the country will have shut down about 2/3 of it's nickel ore shipments. With Indonesia halting low content ore on January 1st, this could support pricing down the road as Chinese stockpiles start to dwindle. China has a molybdenum mine leaking from a tailings dam, reminding us all of the deadly collapsed we witnessed in Brazil a few years ago. And Bank of America has updated its nickel forecast for 2020 below. We tried to publish at least one update without mentioning the elephant in the room, but the Philippines made that impossible. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $5.40/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - LME copper rises on China data, but set for worst month since 2011 - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Texas Manufacturing Outlook Survey - pdf here
  • Monitoring Real Activity in Real Time: The Weekly Economic Index - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
States with/without stay at home orders - more

The United States fatality numbers will pass China's sometime today.
Coronavirus: social distancing could save millions of lives, study says - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Aluminium hits four-year lows, fears of deep recession reinforced - Aluminum prices hit four-year lows on Monday as worries about prolonged shutdowns around the world due to the coronavirus reinforced fears of a deep recession and tumbling demand for industrial metals. - more

      Philippines' nickel mining hub to suspend operations due to coronavirus - Mining operations in the Philippines’ southern province of Surigao del Norte, home to most of the country’s nickel mines, will be suspended from April 1 as part of efforts to prevent the spread of the coronavirus, two mining companies said on Tuesday. - more

      BofA sees nickel taking big COVID-19 hit - Bank of America has warned of the potential for a nickel supply overhang emerging on what was already a lacklustre stainless-steel market before the COVID-19 pandemic struck. - more

      Coronavirus Reshapes Stainless Steel Sector - Global stainless steel markets are being reshaped by the effects of the Covid-19 pandemic. - more

      Tailings dam spill at Chinese molybdenum miner threatens local water supply - China’s northeastern province of Heilongjiang said a tailings dam leak at a molybdenum mine over the weekend threatened to contaminate the local water supply and that it had launched an emergency response. - more

      Indonesian anti-graft enforcers set their sights on a new target: corporations -  For years, this eastern Indonesian village of fishermen and seaweed farmers simmered with anger over the pollution of its coastline by a nickel mining company. - more

      Eramet: Fully committed to face the Covid-19 health situation - In  the  current  context  of  the  Coronavirus  pandemic marked  by  the  uncertainty in the  global  economy, Eramet is fully committed to tackling developments in the situation. - pdf here

   Other News

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

  Morning Nickel Prices

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

Monday, March 30

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $5.16/lb ($11,370/tonne). Indicators at 6:15 am CST today show nickel trading unchanged . Stockpiles of nickel stored in LME licensed warehouses rose on Friday and started this week just under the 230,200 tonne level. Cancelled warrants remain in the 24% range, where they spent all last week. The U.S. Dollar is trading lower this morning, but so far, it is failing to boost the trading price of nickel. European and Asian equity markets traded or are trading, lower, while US equity futures are mixed at the moment. Less than a week ago, President Trump announced he wanted to see America reopen by Easter. Yesterday, he extended the social distancing guidelines until April 30th. Industry news continues to be muted, with daily operations remaining at the mercy of the virus. We started the weekend with the US crossing the 100,000 case level earlier Friday. Sometime this morning, we will cross the 150,000 level, with Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, telling CNN we could see 100 to 200,000 fatalities in the US, and millions infected. And if that isn't mind boggling enough - by the end of 'last' Monday, the US had moved into 3rd place in the world with 43,449 total cases and 545 deaths. This morning, our country, now number one with a huge lead, has seen nearly 2,500 of its citizens killed by this deadly virus, and a total of 142,700+ cases. That's just over the past week! And the numbers keep telling us we have yet to see the worse. Two days left to a brutal March, and on Wednesday, we get a fresh start. Stay well, and have a great week.
  • Average price of LME traded cash nickel so far this month - $5.41/lb

  Reports

  • Reuters metals morning - Base metals fall as coronavirus shutdowns stoke recession fears - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.246/lb
  • MolyReview issue 1, 2020 - pdf here
  • NAB China Economic Update: 27 March 2020 - pdf here
  • The Australian Mining Review April 2020 - online here
  • USDOC Monthly Steel Factsheet - pdf here

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here

Do you have a Kinsa smart thermometer? Here is what they are telling officials - more

Fight the Pandemic, Save the Economy: Lessons from the 1918 Flu - more
Coronavirus: Chinese scientist advises people in Europe, US to wear face masks in public - more
Coronavirus: a global consumer default wave is just getting started in China - 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 - Copper steadies near 4-year lows as supply shutdowns mount - Copper prices stabilised close to 4-year lows on Friday as disruption to supply caused by shutdowns of mines and shipping routes began to offset the huge hit to demand from the coronavirus outbreak. - more

      Factbox: Coronavirus hits steel, metals and mining with diverse price impacts - All steel and metals commodities have been impacted by the escalating coronavirus crisis, although their price behavior has varied as both demand and supply scenarios change. - more

      EU's AD duties may be positive for Taiwanese stainless steel plants - Last week the European Union (EU) announced that from the next April 12th of 2020, it would apply anti-dumping (AD) duties on Chinese, Indonesian and Taiwanese hot-rolled stainless steel products. - more

      Collapsing auto sector a body blow for industrial metals: Andy Home - France’s Recylex has just announced the temporary closure of both its German lead smelter and two battery-recycling plants, one in Germany and one in France.  - more

      QA with Anglo American, Jinduicheng Molybdenum and Million Link (from recent Metalshub webinar) - Q: What is your forecast for Q2 stainless steel production in China?and What is the impact of the oil price drop on nickel cash production costs and nickel demand? - more

      Caterpillar Announces Updates and Response to COVID-19 and Global Business Conditions - The continued spread of the COVID-19 pandemic is starting to impact Caterpillar’s supply chain, a possibility the company disclosed in its risk factors included in the company's Form 10-K filed on February 19, 2020. - more

  • U.S. Steel outlines 'difficult but necessary’ response to Covid-19, layoffs will occur - more
  • Dearborn Works to be Idled - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Metal manufacturers to President Trump: End Section 232 steel and aluminum tariffs immediately - more
  • Manufacturing’s problem: Even in this COVID-19 crisis, people don’t see it as essential - more
  • IMF head says global economy now in recession - more
  • Stocks Slip, U.S. Futures Fluctuate; Dollar Jumps: Markets Wrap - more

  Morning Nickel Prices

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

Friday, March 27

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $5.07/lb ($11,175/tonne). Indicators at 6:30 am CST today show nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and started today just under the 229,500 tonne level. Mine closures might be helping support nickel prices, or a stronger Euro could be helping. At least for the moment, nickel prices are trading higher, but remain rangebound. Sometime between 12 pm and 4 pm EST yesterday, the number of total cases of Covid-19 in the United states passed both Italy and China, when new cases suddenly spiked higher. Worldwide cases leaped over the 500,000 level earlier in the day, and will exceed over the 550,000 level sometime today. The U.S. will go over the 100,000 case level before the weekend is over, and if we have a similar increase in new cases on Friday that we saw on Thursday, we will pass that level today. The good and bad news is only 1,300 Americans have died so far. While lower than many countries, using a term like "only" is insultive to the friends and family of the victims, who were denied a last few moments with their loved one, and denied a typical funeral. Last Friday we woke up to the news the world was at 244,582 total cases worldwide, while here in the United States, we rated sixth worldwide with a total of 13,801 total cases and 207 deaths. Yesterday, the US gained another 17,000+ cases. In one day. We are seeing the media mentioning cases are doubling every 3 days. From roughly 14,000 to start last Friday to over 85,000 to start this Friday, in a total of 7 days, is much worse than doubling every 3 days. 3.3 million Americans filed from unemployment last week, which not only set a new one week record, but was nearly five times higher than the previous record. That said, the news is not very good these days. Like the rest of the world, Americans are in shock, and concerned what tomorrow will bring. Business owners, those that remain open, worry about their supply base, their customer base, logistics, and their employee base. But those that remain open are the lucky ones. To all, we hope you find joy and health this weekend. We are still climbing this difficult mountain together, but we will reach the summit soon, and then the ride down begins. Hang in there, you are not alone.
  • Average price of LME traded cash nickel so far this month - $5.43/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Supply worries drive lead prices to highest in over a week - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.241/lb
  • Sucden Daily Base Metals Report - more
  • New Economy In, Old Strategies Out A Fresh Look at MES - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
Positive COVID-19 tests per 100,000 residents - county map in this article

Beyond coronavirus: The path to the next normal  - more
Safeguarding our lives and our livelihoods: The imperative of our time - more
Coronavirus: China to ban most foreign arrivals in effort to block contagion’s spread - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper slips as coronavirus hit to metals outweighs U.S. stimulus - Copper prices fell on Thursday as volatile markets and a hit to metals demand from the coronavirus pandemic eclipsed the boost from a massive U.S. stimulus package. - more

      Glencore closes some operations in four countries over coronavirus curbs - Glencore PLC on Thursday halted a number of smaller mines due to government restrictions to curb the spread of the coronavirus but added its larger operations were not materially impacted.  - more

      Two senior managers at Russia's Nornickel leave - Russian nickel and palladium producer Norilsk Nickel GMKN.MM said on Friday two senior vice presidents, including Sergey Batekhin, who was in charge of sales, had left the company. - more

      Many Businesses Cautious About Restarting Economy - President Donald Trump wants the country open for business by mid-April, but some experts warn it's not as easy as flipping a switch. - more

      The Sales Contrarion in B2B Distribution - ID chats with sales management consultant and author Justin Roff-Marsh to get his perspective on how distributors can overhaul their sales processes to maximize results. - more

      Zimbabwe cuts rates, miners send coronavirus distress signals - Zimbabwe’s central bank cut its main lending rate to 25% on Thursday and set a fixed exchange rate as part of measures to support the economy against the coronavirus pandemic. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. unemployment claims soared to 3.3 million last week, most in history - more
  • Fitch Warns USA's AAA-Rating At "Risk Of Near-Term Negative Action" - more
  • U.S. Futures Drop With Europe Stocks; Bonds Rise: Markets Wrap - more

  Morning Nickel Prices

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

Thursday, March 26

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $5.11/lb ($11,280/tonne). Indicators at 6:15 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just over the 229,500 tonne level. Nickel trading has quieted the few days, with nickel trading in a $300/tonne range all week. Ambatovy in Madagascar joins the growing list of nickel producing mines that are shutting down because of concerns over the pandemic. Once again, there is little to talk about except for the virus. The United States looks to overtake Italy, and China, in the next 24 hours, with more cases than any other country. It took the top spot for active cases yesterday and now leads #2 Italy by 10,000+. China has less than 4,000 active cases so seclusion and South Korea has less than 5,000 so better times are ahead. A lot of how quickly will depend on the  gamble numerous state governors are taking, by refusing to implement stay at home orders in their states. If it pays off, it could help their recovery to go much faster than those who shut down. The odds are however, not in their favor, and their spike could come after those who closed earlier, and thus their recovery will lag behind the others. It was one week ago today, that California was the first state to mandate a statewide stay at home order, and with an incubation period that lasts up to 14 days, simple mathematics tells us the worst is yet to come. Have a great day. For those of you still working, enjoy the lighter traffic, and stay safe.
  • Average price of LME traded cash nickel so far this month - $5.45/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper retreats as demand worries persist, market weighs U.S. stimulus - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • U.S. Imports of Stainless Steel Mill Products - more

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here

Coronavirus latest: more than 20,000 dead as UN warns threat to ‘whole of humanity’  - more
Coronavirus: no agreement on Pompeo’s ‘Wuhan virus’ terminology as G7 foreign ministers spar over infection source - more
Why are so few Germans dying from the coronavirus? Experts wonder - more
Here's why the coronavirus may be killing more men than women. The US should take note - more


Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - London aluminium snaps 7 days of losses as some China smelters cut output - London aluminium prices rose on Wednesday after seven straight sessions of losses, as some smelters in China trimmed production to cut losses amid the coronavirus epidemic, but weak demand kept a lid on prices. - more

       Stainless steel melt shop production reaches 52.2 million metric tons in 2019 -  The International Stainless Steel Forum (ISSF) has released figures for the full year 2019 showing that stainless steel melt shop production increased by 2.9% year–on–year to 52.2 million metric tons. - more

      Sumitomo to halt operations at mines in Bolivia, Madagascar to prevent coronavirus spread - Sumitomo Corp will temporarily suspend operation at its San Cristobal silver-zinc-lead mine in Bolivia and its Ambatovy nickel mine in Madagascar to prevent the spread of the coronavirus, it said on Thursday.  - more

      NAW to Pence: Don't Bypass Distributors in Supply Chain - NAW expressed to Pence concerns over manufacturers sending critical products direct to end users amid the COVID-19 crisis. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Slip With U.S. Futures; Bonds Rise on ECB: Markets Wrap - more

  Morning Nickel Prices

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

Wednesday, March 25

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $5.11/lb ($11,260/tonne). Indicators at 6:20 am CST today show nickel trading around $.02/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just over the 229,600 tonne level. Nickel climbed back over the $11,000 tonne level yesterday, and so far, appears to be holding  above this level.  The Raglan Nickel Mine in Canada has bee shut down due to the virus. A shipping magazine had an article yesterday on the empty cargo carriers laying idle off the quarantined Philippine island. With Indonesia no longer shipping nickel ore to China, we suspect if any deficit in supply has the ability to put a scare into the market, this might be the one to do it. At least one source said China had enough ore to get it thru mid April. Then again, getting reliable information from China is not easy, so time will tell. Based on our estimates, sometime this morning, the US will pass Italy and have the most 'active' covid-19 cases in the world. And yet, only half of Americans are under any stay at home order. The responsibility for this lies with the individual state governors, and we suspect, it is only a matter of time before some border feuds break out. The President has advised he would like to re-open America for business by Easter. We weren't aware the President had 'closed' any part of America for business, although he could if he so desired. It was announced Prince Charles was diagnosed positive today, sending another warning that this illness is no respecter of persons. England's earlier experiment that the sooner everyone got the virus, the sooner everyone would recover, proved a deadly failure and on Monday, their Prime Minister put that entire country on quarantine. As is much of Western Europe. Stay safe and have a great day! Maybe a little harder these days, but don't let the little bastard beat you!
  • Average price of LME traded cash nickel so far this month - $5.47/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London aluminium snaps 7 days of losses on some production cut in China - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.238/lb

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here

Italy showed 54,030 confirmed 'active' covid-19 cases yesterday and will gain somewhere around 5000 today. The United States showed 52,293 'active' cases around 6 pm yesterday and will gain around 10,000 new cases today. Sometime early today, there will be more confirmed 'active' cases in the US than Italy. Both Italy and the US look to exceed China's total case count  (active, deceased and cured) later this week, which totalled 81,747 yesterday according to the World Health Organization.

Thousands of covert coronavirus cases go under the radar in Wuhan, Chinese-led researchers say - 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 bounces 4% on U.S. stimulus, but gains seen short-lived - Copper prices rebounded 4% on Tuesday on the back of a new wave of U.S. economic stimulus and worries about supply due to the coronavirus, but analysts said the market’s gains were likely to be fleeting. - more

      China Jan-Feb nickel ore imports fall 5.1% y/y as Indonesia ban begins - China’s nickel ore imports in the first two months of 2020 fell 5.1% from a year earlier, according to Reuters calculations based on customs data released on Wednesday, as the ban on exports from top miner Indonesia came into force - more

      London Metal Exchange says it can approve warehouses remotely - The London Metal Exchange has plans to register warehouses that want to accept metal traded on the exchange by remotely checking they meet the criteria, should the need arise, the LME told Reuters on Tuesday. - more

      Nunavik’s Raglan mine put into care and maintenance due to COVID-19 - The Raglan mine in Nunavik has announced that it will mothball its operations and send nearly all its workers home, as it goes into care and maintenance due to COVID-19 concerns. - more

       Steel imports down 21% YTD through February -  Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the U.S. imported a total of 1,505,000 net tons (NT) of steel in February 2020, including 1,344,000 net tons (NT) of finished steel (down 52.2% and 18.4%, respectively, vs. January final data). - more

       Metal Prices Boosted By A South African Move To Close Its Mines - A major “outage” event, the closure of South Africa’s big mining industry for 21 days as a precautionary measure to stave off the spread of the coronavirus, is expected to flow into the prices of a wide range of minerals and metals. - more

       Stainless steel occupies great part in China's new export tax rebate policy - The Chinese government published a statement on March 17th, which affirmed the government would provide a more percentage on its export tax rebate policy on some products, of which stainless steel represented a quite high percentage.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks, U.S. Futures Advance on Stimulus Package: Markets Wrap - more
  • China: Plug-In EV Car Sales In February 2020 Down By 65% - more

  Morning Nickel Prices

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

Tuesday, March 24

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $4.94/lb ($10,890/tonne). Indicators at 6:10 am CST today show nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started the day just over the 230,200 tonne level. Nickel, along with just about everything else trade able, is trading higher this morning. Markets are desperately looking for good news and there are hints that the worst may be passing in Italy. If you look at our virus section below, you will see why we think the optimism behind this news will be short lived. According to French media, Glencore is shutting down production at their Koniambo mine in New Caledonia in order to protect employees from the covid-19 outbreak. I have yet to find a secondary source for this news, so hopefully we are giving you reliable information. Nickel traded below the $11,000/tonne level yesterday, for the first time since January 2019. It's rebounding today and while it is way, way too early to call it, the industry is desperately looking to nickel traders to find a floor - preferably sooner than later. Social distancing has given way to stay at home orders, which, while still being resisted by many governors, is gaining traction every day. Have a safe day.
  • Average price of LME traded cash nickel so far this month - $5.50/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rebounds on Fed stimulus, supply concerns - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.236/lb
  • NAB US Economic Update – March 2020 - pdf here
  • Sales of electric vehicles fell to 15,000 PEV's in February, a 65% decrease YOY

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here

Yesterday's worldwide numbers - 350,536 cases / 15,328 deaths = 4.37% fatality rate

When the Surgeon General of the United States told NBC yesterday that it was going to get bad this week, he wasn't kidding. Based on our research of the numbers, Italy's daily gains in confirmed infections is running around 5000 new cases per day and appears to be leveling off. The United States is currently running around 10,000 new cases per day, and that number is growing. Considering Italy only leads the United States by approximately 20,000 cases, it is very possible that by weeks end, the United States could have more total cases than any other country in the world, except China. On Monday, China only had 5,120 cases still listed as active. The United States, still rather new to the outbreak, had 42,609 active cases yesterday, second only to Italy with 50,418. These figures are given per numbers given on worldometers linked above. 

Coronavirus: Strict new curbs on life in UK announced by PM - more


Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - LME ring goes dark as aluminum lurches to 45-month low - The London Metal Exchange open-outcry ring went dark for the first time since World War II on Monday and aluminum prices slumped to their lowest since June 2016 on fears of a severe global recession. - more

      Coronavirus supply disruptions are the next worry for metals: Russell - The spread of the coronavirus across the world has focused metals markets on the risks to demand, causing prices to plummet, but so far investors have largely ignored the mounting threats to supply. - more

      Service Centers Essential Business in Illinois - MD Metals, a Bedford Park, Ill., metal service center, has been informed it qualifies as an essential business under Illinois Governor JB Pritzker’s state at home executive order. - more

      Metals Buckle Under Virus Double Whammy - Lockdowns imposed to control the coronavirus have battered China’s appetite for everything from coal to copper, pushing stockpiles of raw materials higher and global prices lower.  - more

       February 2020 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 143.3 million tonnes (Mt) in February 2020, a 2.8% increase compared to February 2019. - more

      Outokumpu’s business operation not affected by novel coronavirus epidemic - Outokumpu, the largest stainless steel manufacturer in Europe, said the epidemic outbreak of novel coronavirus hasn’t affected its business operation, and the current order volume was even stronger than before, which might be due to cautious customers not to order from foreign countries, and the business in the Americas continued growing. - more

      MN Court of Appeals sends PolyMet permit back to MPCA - The Minnesota Court of Appeals sent an air-emissions permit for the PolyMet copper-nickel mine back to state regulators for further review on Monday, giving another victory to environmental groups who oppose the project. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Stock Futures Hit Limit Up While Dollar Drops: Markets Wrap - more

  Morning Nickel Prices

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

Monday, March 23
      Our Tuesday update will be delayed by a few hours. This may happen periodically on Tuesdays in the coming weeks.

LME nickel prices Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $5.09/lb ($11,225/tonne). Indicators at 6:20 am CST today show nickel trading around $.08/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday and started the week just over the 230,500 tonne level. Guy Wolf, head of market analytics for Marex Spectron stated on Friday that "risks now lie to the upside not the downside." We suspect Mr Wolf possibly jumped the gun with this forecast, with the price of nickel barely holding onto the $11,000/tonne level today. Realistically, one would think nickel can only trade so low, before more mines shut down and cut off supply. But we are traveling in uncharted waters, and demand is drying up as fast as supply, and market analysts, who were debating the word recession just months ago, seem to be using the word depression now with alarming regularity. We did a comparison over the past Monday's in the US, as covid-19 threatened, then entered US shores. Not that many of you aren't already worried enough, but our past can sometimes warn us of the future potential. It's Monday and the last full week of March. And what an ugly March it has been so far. May this week bring us all better news than last, and health to all as well.
  • Average price of LME traded cash nickel so far this month - $5.53/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Base metals tumble as virus-related curbs deepen slowdown fears - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Fastener Distributor Index – February 2020 - pdf here
  • Barchart 304 SS Scrap Index - $.242/lb
  • U.S. Economy in a Snapshot March 2020 - more
  • Sucden Financial Quarterly Metals Report - pdf here
  • SMM - China imported 1.38 million mt of nickel ore and concentrate in Feb, down 48% MOM, down 32% YOY
  • The Updated List of All Pennsylvania Businesses That Gov. Wolf Ordered Closed - more (list) note - while your business may be classified as essential, many of your customers may not be.

Virus News and Numbers

Coronavirus Pandemic - By The Numbers - here
Coronavirus Dashboard - here

Monday Jan 20th - United States tests confirm first known case of Covid-19 in Snohomish County, Washington, a male having returned from Wuhan, China on Jan 15th and seeking medical attention on the 19th. (made public on Jan 21st)
Monday Feb 3rd - United States has 11 known cases (Italy has 2 cases, South Korea has 15)
Monday March 2nd - United States has 84 known cases (Diamond Princess ship has 705, South Korea has 4,212, Italy has 1,694 - runs on toilet paper begin in Washington state)
Monday March 9th - United States has 551 known cases (South Korea has 7,478, Italy has 7,375, on the 11th Tom Hanks reported he and his wife infected and NBA suspends season.)
Monday March 16th - United States has 4,325 cases, now ranks 8th most cases in world (South Korea has 8,236, Italy has 27,980)
Sunday March 22nd - United States has 35,468 cases, passes Spain to rank 3rd most cases in world, only Italy and China have/had more cases.

Japanese flu drug 'clearly effective' in treating coronavirus, says China - more
A third of coronavirus cases may be ‘silent carriers’, classified Chinese data suggests - 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 - Copper marks steepest weekly fall since 2011 as virus chill bites - Copper suffered its biggest weekly loss since September 2011 as concerns mounted about the impact of the coronavirus on the global economy and dampened the outlook for metals demand. - more

      COVID-19 to swell nickel, platinum surpluses; palladium deficit to shrink: Nornickel  - Russia's Nornickel has revised its supply-demand outlook in light of the coronavirus pandemic and now expects much higher nickel and platinum surpluses than previously and a less severe palladium deficit. - more

      China Steel Output Rises Despite Oversupply Amid Coronavirus - China’s steel production continues to expand notwithstanding disruptions from the coronavirus pandemic.  - more

      Preparing for the worst, hoping for the best - Keeping employees healthy keeps shops viable in this sea of economic uncertainty during the COVID-19 pandemic - more

      Jack Keough: Strong M&A Activity Will Continue in 2020 - A recent industry survey suggests that 52% of senior executives expect their companies to actively pursue M&A in 2020. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Decline With U.S. Futures; Bonds Edge Up: Markets Wrap - more

  Morning Nickel Prices

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

Friday, March 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed yesterday's trading session at $5.10/lb ($11,250/tonne). Indicators at 7:50 am CST today show nickel trading around $.11/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and started today just over the 230,700 tonne level. With confusion reigning the day in the nickel and stainless steel industries, there really isn't a lot to talk about. Everyone is in the same boat, not knowing what tomorrow will bring, but in our competitive world, very few are willing to admit the troubles they are experiencing, knowing to do so, could open a notch in their armor for competitors to pounce on. So miners, manufacturers and distributors alike struggle on in seeming solitude, sharing difficulties with others, but unwilling to admit them. So, while in a world of social distancing, you may feel what you are going thru makes you feel very alone, you are not. Every house, or apartment, you pass, is a family with a story of their own. And every business competitor you have, is experiencing the same issues you are. You are not on your own out there. So hang in there, it will get better. It's the weekend. If you can get outside and stay away from others, do so. It's springtime here in the States and a time of rebirth. Stay safe and enjoy your weekend.
  • Average price of LME traded cash nickel so far this month - $5.56/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper plunges for 4th day on LME, Shanghai limit down as selloff resumes - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more

Virus News and Numbers

Coronavirus Pandemic - By The Numbers - here

US government is preparing for coronavirus pandemic that could last up to 18 months and 'include multiple waves of illness' - more
Coronavirus kills 3 family members and sickens 4 others after a dinner in New Jersey - more
Coronavirus infects faster and lasts longer than Sars, raising new containment challenges, Chinese studies suggest - 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

     Yesterday's market review - Copper hits lowest since Jan 2016 on deepening coronavirus fears - Copper languished near four-year lows on Thursday as the spread of the coronavirus intensified fears about global economic growth and demand for industrial metals. - more

      Fitch lowers mineral output forecasts for 2020 in light of mine stoppages - Research agency Fitch Solutions has revised downwards some of its mineral production forecasts for this year, in light of increasing operational disruptions while Covid-19 continues to spread globally. - more

      Stainless steel producer Aperam to pause production at some European lines - Aperam has decided to halt output temporarily at some of its European production lines as a result of the coronavirus outbreak, the Luxembourg-based stainless steel producer said Thursday. - more

      The unprecedented disruption of COVID-19: What distributors should do next - Most of us have been through natural disasters and recessions, but coronavirus, or COVID-19, is a new kind of disruption. - more

      Managing Through Crisis: Surviving COVID-19 - Businesses face daunting operational challenges as the rapid spread of COVID-19 causes employees to call in sick and customer counts to dwindle. - more

      Distributors Must Forge Through the Chaos - This is truly March Madness, and for the worst reason. Over the past decade, the term “First-World problem” rose as an Internet meme to mean a trivial or minor problem typically only experienced in First-World nations. - more

      Glencore putting up to $30M more in Minnesota copper-nickel mining project - The money will be used by Polymet Mining to fight legal battles over the proposed mine in northeastern Minnesota. - more (sign up pop up will disappear in 15 seconds)

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Climb With U.S. Equity Futures; Bonds Rise: Markets Wrap - more
  • The Supply Chain Shock Is Going Global - more

  Morning Nickel Prices

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

Thursday, March 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed yesterday's trading session at $5.17/lb  ($11,395/tonne). Indicators at 6:15 am CST today show nickel trading around $.13/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just below the 230.800 tonne level. Brutal and depressing. There does not seem to be a bottom to nickel prices. If this drop continues, we will see more nickel mines shutting down and the demand squeeze we are experiencing will be followed by a supply squeeze.  While China is slowly recovering, the rest of the world has yet to see the worst, so much of their export market is evaporating. Since we are in uncharted waters, it is nearly impossible to predict what will happen. Those who are making predictions, are doing it on mere hope and a prayer, even more so than usual. Here is a prediction that was published Sunday by the Motley Fool "Why today’s the day to buy into the nickel market" (article). While the author makes a good case for the long term picture for nickel in a world we recognize as being 'normal', we do not live in normal times, and since this was posted, LME cash nickel has fallen almost $1500/tonne. There is an old investment saying about "trying to catch a falling knife" that applies to just about all commodities right now. US Dollar is stronger and remains one of the few safe haven investments, as gold and silver join the retreat. The oil war going on between Russia and Saudi Arabia is taking prices to near 22nd century lows, and this is compounding the worries for commodity traders. All in all, unless you are a short trader, it's just brutal and depressing out there. But hump day is in the rear view mirror and we are closer to the weekend than not.
  • Average price of LME traded cash nickel so far this month - $5.59/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper plunges almost 8% on LME, hits limit down in Shanghai as sell off resumes - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.246/lb

Virus News and Numbers

Coronavirus Pandemic - By The Numbers - here

Why Telling People They Don’t Need Masks Backfired - more
Pet dog with coronavirus dies after returning from quarantine disease-free - more
Animals and Coronavirus Disease 2019 (COVID-19) - more

Why Covid-19 is so dangerous for older adults - more
Trump cites 'Chinese virus' in bid to shape narrative - more
Chinese military scientists ordered to win global race to develop coronavirus vaccine - more
As of last evening, the United States ranked 8th in the world in total cases of covid-19, and 6th in fatalities.

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
  • US Industrial Production Index - more

     Yesterday's market review - Copper slides below $5,000 for the first time since 2016 - Copper prices crashed below $5,000 a tonne for the first time in more than three years on Wednesday as growing expectations of surplus metal were reinforced by large deliveries to London Metal Exchange-registered warehouses. - more

      2 Italian stainless steel plants decide to shut down to prevent COVID-19 epidemic - According to the impact of the COVID-19 epidemic in the world, especially in Italy, there were more and more steel mills in Italy decided to temporarily shut down their mill to prevent virus expansion. - more

      From using drones to stockpiling cyanide, miners keep digging amid pandemic - From using drones for field inspections to stockpiling cyanide, miners are scrambling to maintain output amid the coronavirus pandemic, a task made trickier in underground mines where social distancing is nearly impossible. - more

      Allegheny Technologies announces cost-cutting moves, offers voluntary retirement program - Pittsburgh-based specialty metals manufacturer Allegheny Technologies Inc. announced Tuesday it was realigning its businesses and offering a voluntary retirement package to salaried employees aimed at cutting costs and boosting profits. - more

      The Unprecedented Disruption of COVID-19: What Distributors Should Do Next - As we won't see "business as usual" for a while, here are critical steps distributors need to take now to strengthen their positions for a new normal. - more

  • Small Businesses Face Devastation as Damage From Virus Grows - more
  • The novel coronavirus and the metal fabrication supply chain - more
  • Will COVID-19's economic impact weaken steel prices? - more

      Copper kills coronavirus. Why aren’t our surfaces covered in it? - In China, it was called “qi,” the symbol for health. In Egypt it was called “ankh,” the symbol for eternal life. - more (note - this is one of stainless steel's Achilles Heel's. By its very nature, the self passivating nature of stainless not only protects the metal, it also protects whatever lies on the surface from the metal itself. While the economic blow from this outbreak could prove detrimental to stainless steel's future in the medical field, this is not new news.)

  • (from 2015) Human Coronavirus 229E Remains Infectious on Common Touch Surface Materials - more
      Minnesota requests elusive U.S. Forest Service study on copper mining effects - Minnesota regulators have asked the Trump administration to provide the research from an aborted federal study about the impacts of copper mining on the Superior National Forest and its Boundary Waters Canoe Area Wilderness, within 30 days. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Markets tumble as scale of stimulus programs numbs investors - more
  • Dollar Extends Gains; Bonds Surge After Stimulus: Markets Wrap - more

  Morning Nickel Prices

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

Wednesday, March 18

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $5.34/lb ($11,780/tonne). Indicators at 6:20 am CST today show nickel trading around $.08/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just under the 231,500 tonne level. From a famous line in Raiders of the Lost Ark - What shall we talk about? In the last two days, we have learned a huge chunk of nickel ore shipments from the Philippines has been halted to an island under quarantine. And we learned that a major Canadian nickel mine has closed due to concerns over the virus. Today we experience our third consecutive day of nickel stockpiles falling, a first for this year. And yet, nickel prices continue to fall. Concerns for faltering demand are muting any supply concerns. Not sure technicals mean much at a time like this, but they are flashing sell, sell, sell. And traders continue to do so. It would be safe to say that we are now sailing in uncharted waters. In our state last night, we went to bed with eight confirmed cases, double the day before, and woke up to thirteen this morning - and the sun isn't even up yet. And next week, the LME will suspend their ring trading. Not sure yet, how that will affect our ability to supply LME numbers, but we will learn together next week. Little more news today than we have found in days past, so we leave you with another line, this time from an old TV show - Let's be careful out there.
  • Average price of LME traded cash nickel so far this month - $5.63/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper sinks below $5,000 a tonne as virus panic sees metals give up gains - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.254/lb
  • U.S. Imports of Stainless Steel Mill Products - more
  • Australia Resources and Energy Quarterly – March 2020 - pdf here
  • Presentation thyssenkrupp February 2020 - pdf here

Virus News and Numbers

Coronavirus Pandemic - By The Numbers - here

How can an asymptomatic person still spread the coronavirus? - more
Dow closes with gain of 1,000 points on news of $1 trillion stimulus package - 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 - Prospect of excess supply pushes copper to 40-month lows - Copper prices tumbled to 40-month lows on Tuesday as slowing demand fed expectations of surpluses and a large amount of metal was delivered to London Metal Exchange-approved warehouses. - more

      London Metal Exchange plans to suspend ring trading next week - The London Metal Exchange (LME) plans to suspend open-outcry trading next week and shift all business to its electronic system for the first time after Britain imposed severe restrictions on social life to fight coronavirus. - more

      Vale suspends mining at Voisey’s Bay mine - Vale SA is placing its Voisey’s Bay nickel mine in Labrador on “care and maintenance” for the next four weeks due to the global COVID-19 virus outbreak. - more

      No plans to shutter Vale or Glencore operations in Sudbury due to COVID-19 - Vale has no plans to curtail or suspend its Greater Sudbury-area operations due to the coronavirus pandemic. - more

      VW to start using high-nickel batteries for electric car - Volkswagen will raise the amount of nickel used in it electric car battery cells to 80% in the next year from 65% at present, Frank Blome, head of battery cells at the carmaker said on Tuesday. - more

      Judge backs Minnesota's Twin Metals mine in lease dispute - A federal judge on Tuesday rejected a challenge by environmental groups against the proposed Twin Metals copper-nickel mine in northeastern Minnesota, saying the Interior Department had the authority to reverse itself and renew the project’s federal mineral rights leases. - more

      China steel futures weaken as virus panic escalates - Benchmark steel futures in China dropped on Tuesday, retreating from a near two-month high hit in the previous session, as fears worsened over the coronavirus pandemic and its impact on the world economy. - more

  • China Macro & Metals: As work slowly resumes, high steel stocks weigh on prices - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures at Lower Limit Again; Bonds Tumble: Markets Wrap - more

  Morning Nickel Prices

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

Tuesday, March 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $5.41/lb ($11,935/tonne). Indicators at 6:15 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and for the first time this year, by over 1500 tonnes. Cancelled warrants remain in the 27% range and the day saw just under 232,100 tonnes. Volatility and brutality defined the market yesterday, and while nickel closed below $12,000/tonne for the second time in a week, the drop was not quite as bad as last Thursday's. After experiencing a 3000 point drop, the Dow is showing very little enthusiasm this morning, after an after market Presidential news conference yesterday confirmed a recession was very likely. We are starting to see economic reports coming out, and probably the most worrying is the Empire State Manufacturing Survey (posted below). If you haven't already heard, part of the Presidential Disaster Declaration was the lifting of semi truck driver hour restrictions. Another reason to stay off the highways and stay home when ever possible (watch this).  We thought the market might have a positive reaction to the news from the temporary Phillippines shipment ban due to the Coronavirus quarantine, but so far, the markets appear to be skeptical. It is interesting to note, with the Indonesia export ban in place, the article below claims if this quarantine lasts into next month, China stockpiles of low grade nickel ore could be depleted. In the mean time, world markets face the great unknown --- and markets hate the unknown. Industry news remains hard to find.
  • Average price of LME traded cash nickel so far this month - $5.65/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper rebounds from 40-month low on demand hopes - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.273/lb
  • Empire State Manufacturing Survey - more Ouch!
  • Scotiabank Metals Strategy: Risk & liquidity quarantined - pdf here
  • ING The metals market has yet to hit bottom - more
  • NAB China Economic Update: March 2020 - pdf here

Virus News and Numbers

Coronavirus Pandemic - By The Numbers - here

Coronavirus: Washington-Beijing war of words continues as Mike Pompeo responds to Chinese diplomat’s complaint about ‘denigrating’ remarks  - more
Impact of COVID-19 virus on worldsteel activities - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper tumbles to 40-month low on fears for economy, demand - Copper prices slid on Monday to the lowest since November 2016 on worries that lockdowns in Europe and the United States to tackle the coronavirus would further erode metals demand. - more

      LME May Have a Paper-Filing Problem If U.K. Goes on Lockdown - Since Victorian times, London’s traders have used paper documents to track metal flowing in and out of warehouses, even as the rest of the world went digital. Now the coronavirus is posing a threat unlike any in living memory. - more

      Philippines to ban entry to Northern Surigao for 2 weeks over COVID-19 - The Philippines will ban vessels from entering Surigao del Norte from March 18 to the end of the month, growing concerns about nickel ore supply as the country is the world’s largest exporter of the raw material for stainless steel and nickel pig iron (NPI) following Indonesia’s export ban effective from this year. - more (excerpt) Inventories of nickel ore at Chinese NPI producers are expected to be depleted if the ban extends into April or spreads to other regions. 

      Light at the end of COVID-19 tunnel for metal fabricators - Coronavirus has torpedoed the global economy (and toilet paper aisles), but a reset in the fab shop might not be the worst thing - more

      Courtesy AISI - In the week ending on March 14, 2020, domestic raw steel production was 1,878,000 net tons while the capability utilization rate was 80.5 percent. Production was 1,913,000 net tons in the week ending March 14, 2019 while the capability utilization then was 82.2 percent. The current week production represents a 1.8 percent decrease from the same period in the previous year. Production for the week ending March 14, 2020 is down 1.3 percent from the previous week ending March 7, 2020 when production was 1,903,000 net tons and the rate of capability utilization was 81.6 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Fluctuate Amid Dollar-Funding Stress: Markets Wrap - more
  • Markets crater as coronavirus fears overwhelm central bank emergency measures - more

  Morning Nickel Prices

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

Monday, March 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $5.78/lb ($12,740/tonne). Indicators at 6:20 am CST today show nickel trading around $.38/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and start this week just under the 233,700 tonne level. Cancelled warrants started falling last week as well, slipping from 38+% on Wednesday to near 31% on Thursday, and below that level today. Just about the time inventory started shipping again, future orders have started falling. Markets around the world suffered a touch of silly season on Friday, all bouncing at an unreasonable level. Today, reality appears to be setting back in and world markets, for the most part, are down as well. Nickel which was up $.40/lb this time on Friday, is down nearly as sharply this morning. The Federal Reserve issued an emergency news release on Sunday which included "In light of these developments, the Committee decided to lower the target range for the federal funds rate to 0 to 1/4 percent." (here) We say 'emergency' because the Fed is not known for working on Sunday's and their feeling the need to do this on a Sunday, has sent a chill thru world markets. Bad news is bad news, and the Fed apparently felt that releasing the info on a weekend would give traders time to digest the news before the bell. The Federal government continues to throw money at the problem, but unlike the financial crisis, which was a problem based on money, the coronavirus continues to spread. Rich and poor alike are feeling the effects. Everyday this pandemic continues, economies around the world are getting hit, and with medical analysts forecasting the end is months away, future volatility in world markets is a safe bet. While social distancing is the word of the day, anxiety is the ever present emotion. Everybody is feeling it, whether they care to admit it or not. It's Monday and the beginning of a new week. Lot of nervous customers out there - have you called them out of the blue and asked them how they are doing - really doing? No sales, no pitching the business. Just a call to check on them. We all claim we have the best customer service. Service goes way beyond getting them their order on time.  Social distancing may have put a  cog in the wheel for outside sales calls, but it  sure hasn't broke the phones yet. Have a great week!
  • Average price of LME traded cash nickel so far this month - $5.68/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls after surprise Fed rate cut, dire China data - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.276/lb
  • Canadian Nickel Company March 2020 - pdf here

Virus News and Numbers

Coronavirus Pandemic - By The Numbers - here

Infected people without symptoms might be driving the spread of coronavirus more than we realized - more
Coronavirus can remain in air for 3 hours, live on plastic for days, new study says - more (quote - The research found it could stay on stainless steel and plastic for anywhere between two and three days.)
The Covid-19 puzzles that scientists are still trying to answer - 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 - Prices strengthen on hopes of U.S. stimulus package -  Industrial metals rose on Friday, boosted by expectations of a stimulus package from the United States to protect the world’s largest economy from the impact of the coronavirus and as China announced further economic measures. - more

      Cleveland-Cliffs Completes AK Acquisition - Cleveland-Cliffs Inc. has completed the acquisition of AK Steel, integrating the country’s largest producer of iron ore pellets with a domestic steelmaker. - more

      Philippines to dethrone Indonesia as largest global nickel ore producer - Global nickel production will drop significantly over 2020 as major producer Indonesia’s nickel ore export ban comes into effect, Fitch analysts assert in a recent report. - more

      St Louis Fed Reports

  • Producer Price Index by Commodity for Metals and Metal Products: Steel Wire, Stainless Steel - more
  • Producer Price Index by Commodity for Metals and Metal Products: Steel Pipe and Tube, Stainless Steel - more
  • Producer Price Index by Commodity for Metals and Metal Products: Stainless and Other Alloy Steel Scrap - more
  • Producer Price Index by Industry: Iron, Steel Pipe and Tube from Purchased Steel: Pipe and Tube, Stainless - more
  • Producer Price Index by Industry: Steel Wire Drawing: Stainless Steel Wire - more
  • Producer Price Index by Industry: Material Recyclers: Stainless and Alloy Steel Scrap - more

      Coronavirus not yet impacting US steel production: mills - US steelmakers have not yet seen an impact on production from the global coronavirus outbreak, but are closely monitoring the situation, several domestic steelmakers told S&P Global Platts approaching the end of the week. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • The Fed Cuts Rates to Zero in Latest Effort to Fight the Coronavirus - more
  • NEV Sales In China Hit Rock Bottom (Down 75%) In February 2020 - more
  • S&P 500 Futures Hit Limit-Down; Treasuries Surge: Markets Wrap - more

  Morning Nickel Prices

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

Friday, March 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $5.37/lb ($11,830/tonne). Indicators at 7:00 am CST today show nickel trading around $.41/lb higher, Stockpiles of nickel stored in LME licensed warehouses rose slightly on Thursday and started today just under the 234,400 tonne level. Shanghai Futures Exchange reports their nickel inventories fell 1,656 tonnes this week, to end the week at 31,617 tonnes. After the rush for the back door yesterday, markets are rebounding today. There is no real news to account for the change in mood, and that may be just what the market needed. Yesterday, especially if you are a sports buff, was about as dismal as it could be. Last Friday, Dow futures were lower and we felt that was because traders didn't want to be caught unaware over the weekend. This Friday, the news seems to be about as dismal as it could be, so traders might be wondering if it can get that much worse, If can, of course, and science says it will get much worse before it gets better. But the markets over reaction yesterday is seeing a rebound today. How long it will last is anyone's guess, but as ECB President Christine Lagarde told reporters yesterday "The only thing we know for sure is the risk is too the downside". Canadian Prime Minister Justin Trudeau has entered voluntary quarantine after his wife tested positive. It's been a rough week, with workers worrying about their futures, while watching their retirement funds decline. While we spent January and February warning what was coming, we feel it only fair now that it is here, to remind our readers that things will get brighter. They always do. So if you are under 60 and otherwise healthy, your chances of suffering anything beyond a bad flu is very low. But please play it smart. The rest of us that are over 60, or have a pre existing medical condition, really can't afford to pick up any bugs you might be carrying around, this virus included, so please play it safe. Stay away from sick people, and keep your hands clean, and we all should be just fine. While this event will momentarily pull us apart (social distancing is the word of the moment), our eventual success will draw us together. Dark days ahead .... but no matter how thick the clouds overhead, or how long they sit over our heads, the sun is always up there, just waiting for the opportune moment to peak thru. It's the weekend, and after this week, a much needed break. Have a safe, and relaxing weekend and if the pressure of this all starts building internally, try jogging. It's an exercise that is not only a healthy exercise, it will kick your butt and help you relax when you are done and showered.
  • Average price of LME traded cash nickel so far this month - $5.68/lb
  • LME nickel chart - here  /  Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London zinc rises on hopes for U.S. stimulus, but set for 4th weekly fall - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • MolyReview issue 1, 2020 - pdf here
  • US Exports of Stainless Steel Mill Products - more

Virus News and Numbers

Coronavirus Pandemic - By The Numbers - here

Tests show new coronavirus can live on surfaces for as long as 3 days - more
For different groups of people: how to choose masks - more


Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper drops to more than 3-year low as coronavirus fears grip markets - Copper fell to its lowest in over three years on Thursday after the United States imposed curbs on travel from Europe due to the coronavirus and gave little detail on other plans to cushion its economy from the pandemic. - more

       China's Foshan stainless steel operating rate recovers to 90% - According to understanding, the operation of China's Foshan stainless steel trader and downstream factories increased obviously compared to last week. - more

      LME eyes switching to electronic trade in face of coronavirus - The London Metal Exchange's open-outcry Ring will remain open for business in the face of the continued coronavirus spread, however if needed will be switched to electronic price discovery, a spokesperson told S&P Global Platts Thursday. - more

      Case of COVID-19 linked to PDAC - A positive case of COVID-19 that has been confirmed in Sudbury, Ontario, Canada has also been linked to the PDAC convention and trade show that took place in Toronto earlier this month. - more

   Other News

  Morning Nickel Prices

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

Thursday, March 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $5.63/lb ($12,420/tonne). Indicators at 6:20 am CST today show nickel trading around $.17/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just under the 234,400 tonne level. Markets are in free falls this morning and there is little doubt what triggered today's sell off. President Trump made, what he apparently hoped to be, a reassuring speech from the White House, on the day coronavirus was officially declared a pandemic. It had quite the opposite effect on the world, who typically look to the US as a leader, instead saw the world blamed for the US' sudden health problems. The commodities board yesterday, at this time, was what we have called a a trading winner. Only cocoa, coffee, cotton and corn were trading higher, with copper and cattle joining the rest of the downward movement. Right now, only orange juice and rice are trading higher on the commodities board. Even safe haven gold and silver are getting beat up this morning. Nickel is in real danger of closing below the $12,000/tonne level. Chicago's Mercantile Exchange is the first trading floor in the US to shut down because of the virus, effective close of business Friday. It is growing harder and harder to find related news as business', for a better word, entrench. It is disconcerting when a single infection can shut down a business' operation, and respected health officials say that up to 45% of active employees could get sick before this is over. Not only does that make it hard to plan for the future, it also makes it hard to find the positive side of the coin. But its there, that positive side, it always is, and this will eventually be behind us.
  • Average price of LME traded cash nickel so far this month - $5.72/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits over 3-year low as growth fears deepen after U.S. travel curbs - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • NAB Minerals & Energy Outlook: March 2020 - pdf here
  • SFSA CASTEEL Reporter - more
  • Scotiabank Metals Strategy: Exploring the connection to Oil prices - pdf here

Virus News and Numbers

Coronavirus Pandemic - By The Numbers - here

Coronavirus: Hubei city reopens for business, then closes again 30 minutes later - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Lead, copper slide as stimulus fails to calm virus fears - Lead prices slumped to the lowest since June 2016 and copper also eased on Wednesday as central bank stimulus failed to offset worries that the coronavirus outbreak will keep threatening metals demand. - more

      Sherritt exits Ambatovy nickel joint venture - Sherritt International Inc.  is to exit the Ambatovy joint venture in Madagascar, but its decision will not affect nickel or cobalt production at the mine. - more

      Finnish initiative to solve critical metals scarcity - Chemical giant BASF, energy supplier Fortum and mining group Nornickel plan to establish a battery recycling network to serve the electric vehicle market.  - more

      CME to halt Chicago trading floor after Fri session to tackle coronavirus - CME, the world's largest futures exchange, is to halt trading at its Chicago hub at the close of play Friday as a precautionary measure in the face of coronavirus and its continued global spread. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Hit Limit-Down Again; Treasuries Jump: Markets Wrap - more
  • Consumer Price Index for All Urban Consumers: All Items in U.S. City Average - more

  Morning Nickel Prices

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

Wednesday, March 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $5.75/lb ($12,680/tonne). Indicators at 6:10 am CST today show nickel trading around $.04/lb  lower. Stockpiles of nickel stored in LME licensed warehouses gained slightly on Tuesday and started the day just under the 235,700 tonne level. Nickel is having a hard time finding its footing this morning and at the moment, is still falling. It's so called recovery yesterday amounted to $30/tonne, but in fairness, it did not see the free fall on Monday that equity stocks did. For the most part, while volatile during the day, its daily closing for the month have been in a near $300/tonne range. Industry news still centers around the coronavirus outbreak, which the WHO keeps threatening to call a pandemic, but has yet to take the final step. For that ever shrinking crowd who are trying to minimize the outbreak to just another flu, we suggest you look to Italy. This country is risking economic ruin to stifle the deadly outbreak there. Residents for the entire country are under quarantine, which got even tighter today. The US is reporting over 1000 cases now, as testing expands. And it is now official. The World Health Organization has recommended the practice of shaking hands end until the current threat is over.
  • Average price of LME traded cash nickel so far this month - $5.73/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises on stimulus hopes; global virus spread caps gains - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.291/lb
  • Mine Magazine March 2020 - online here
  • Scotiabank Metals Strategy - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more

Virus News and Numbers

Coronavirus - By The Numbers - here

Coronavirus: outrage as Harvard gives students five days to leave campus - 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 bounces on plans for Chinese, global stimulus - Copper prices rebounded on Tuesday from multi-year lows in the previous session as coronavirus cases dropped in China and nations around the world geared up to pump stimulus into their economies. - more

      Stainless steel price may increase due to COVID-19 impact in Indonesia & Philippines - According to the market news, the market was currently worried whether the Philippines and Indonesia, both were the main suppliers of nickel-iron in the world, kept suffering by the COVID-19 currently, which might further influence the production of nickel-iron. - more

      JPMorgan Reaped $100 Million as China Squeezed Niche Nickel Market - JPMorgan Chase & Co. made about $100 million trading nickel last year, according to people familiar with the situation, as it benefited from a price spike on the back of a Chinese-led supply squeeze. - more

      Govt To Dish Out Chrome Mining Claims To War Vets  - Former fighters of Zimbabwe’s war of liberation are set to be allocated 20% of chrome mining claims in the country as government moves to appease the restless ex-combatants. - more

      January Steel Shipments up 5.6 Percent from January 2019 - The American Iron and Steel Institute (AISI) reported today that for the month of January 2020, U.S. steel mills shipped 8,535,755 net tons, a 6.4 percent increase from the 8,021,250 net tons shipped in the previous month, December 2019, and a 5.6 percent increase from the 8,079,757 net tons shipped in January 2019. - more

   Other News

  Morning Nickel Prices

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

Tuesday, March 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $5.74/lb ($12,650/tonne). Indicators at 6:15 am CST today show nickel trading around $.13/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell for a second consecutive day on Monday and started today just under the 234,500 tonne level. What a difference a day makes. Yesterday, at this time, the commodity board was a solid sea of red, except safe haven gold and silver.  Today, it is  the total opposite, and like last week, we are seeing the roller coaster effect setting in. Yesterday the fear factor sunk world markets like a rock. Today, we are getting the bounce, and while the news really didn't change, the fear factor subsided. Some market analysts are crediting news with the White House considering a payroll tax cut as potentially boosting the market, but we feel the fear in the economy has to do with the potential number of people 'not' working and thus not spending, so not real sure how a payroll tax cut will help. Yesterday's drop in oil prices appears to have been pushed along with a report from the International Energy Agency changing their forecast for 2020 from an increase in demand of 825,000 barrels a day to a decline in demand of 90,000 barrels a day. That type of forecast would unnerve anyone, and if it is affecting the 'life blood' of the world's economy to that extent, other sectors are sure to experience similar drops in demand. Everyone is aware of how the travel industry is getting hit particularly hard, but the pain is spreading quietly to other industries. The good news is China is now reporting less than 50 new cases a day, and that number is falling daily. SLN is advising it has reopened its Thio site which had been shut down due to a strike. Otherwise, little industry news.
  • Average price of LME traded cash nickel so far this month - $5.72/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises from multi-year lows on signs of improving China demand - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more

Virus News and Numbers

Coronavirus - By The Numbers - here

Coronavirus can travel twice as far as official ‘safe distance’ and stay in air for 30 minutes, Chinese study finds - more
Coronavirus sufferers symptom-free for five days on average – study - more
Coronavirus: all of Italy on lockdown as country faces ‘darkest hour’ - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper slides to three-year low on oil price crash, virus fears - Copper prices tumbled to their lowest level in more than three years on Monday following a plunge in oil prices, but they came off their lows as investors counted on major stimulus from China. - more

      Coronavirus likely to cause drastic price falls – Menar - The reduction in the consumption of mined products that the coronavirus was causing would likely result in a drastic fall in prices, Menar MD Vuslat Bayoğlu said on Monday. - more

      SLN reopens New Caledonia's Thio site - New Caledonia's biggest private sector employer, the SLN nickel company, has resumed operations at its mining site in Thio after shutting down operations last week. - more

      Courtesy AISI - In the week ending on March 7, 2020, domestic raw steel production was 1,903,000 net tons while the capability utilization rate was 81.6 percent. Production was 1,913,000 net tons in the week ending March 7, 2019 while the capability utilization then was 82.2 percent. The current week production represents a 0.5 percent decrease from the same period in the previous year. Production for the week ending March 7, 2020 is down 1.0 percent from the previous week ending February 29, 2020 when production was 1,923,000 net tons and the rate of capability utilization was 82.5 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Advance After Biggest Rout Since Crisis: Markets Wrap - more

  Morning Nickel Prices

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

Monday, March 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $5.82/lb ($12,840/tonne). Indicators at 6:15 am CST today show nickel trading around $.20/lb lower. Stockpiles of nickel stored in LME licensed warehouses saw their biggest one day drop since late January on Friday. Dropping a little over 1000 tonnes, they started this week just under the 235,100 tonne level. As you have probably heard already, markets around the world are crashing due to an oil price war, with the threat of a global pandemic taking second place. We don't claim to understand why lower oil prices is bad for the global economy, but apparently Russia did not agree to a production cut last week to support prices, and OPEC has gone to war with them by cutting prices even further. Obviously this all makes sense to someone, but in the mean time, commodities (except for gold and silver) are trading much lower this morning, and at the moment, US Dow futures are down nearly 5%. The count in the US has climbed to just shy of 500 confirmed coronavirus cases and 22 deaths. Italy, which leads the world in new cases on a daily basis, has quarantined nearly 16 million people in an effort to stop the spread. A necessary move, but still a very brave one for a democratic republic, already suffering a weakened economy. Looks like another challenging week. We hope its a healthy and beneficial week for you.
  • Average price of LME traded cash nickel so far this month - $5.73/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper near 3-year low on virus fears, oil plunge - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.294/lb
  • GDP Now Latest estimate: 3.1 percent - more
  • Recycling Today March 2020 - online here
  • U.S. Imports of Stainless Steel Mill Products - more
  • Manufacturing Engineering: March 2020 - online here
  • Metal AM Magazine - online here

Virus News and Numbers

Coronavirus - By The Numbers - here

It’s like being in a science fiction film – my daily life in a locked-down Chinese city - Mark Bishop - more
'More scary than coronavirus': South Korea's health alerts expose private lives  - more
Coronavirus: New Zealand's fourth Covid-19 case attended Tool concert - more
People at Higher Risk for COVID-19 Complications - more
United States Coronavirus Tracker - 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 - Copper, aluminium slump as virus spreads, threatens demand - Prices of copper, aluminium and other industrial metals slumped on Friday as the coronavirus outbreak extended outside China, threatening to crimp economic growth and metals consumption.  - more

      Stainless steel price close to cost, hard to decline anymore - According to the market news, the current working stainless steel mills were counted as 67%, which caused the recent production of stainless steel in China only got 1.75 million tons, and it would be the lowest number since 2018. - more

      Feature: Credit crunch puts China's steel mills, traders under intense pressure to cut output, prices -  China's steel mills and traders are grappling with increasingly tight cash flows due to soaring finished steel inventories and slow sales, which are likely to result in production cuts and lower pricing, market sources said Monday. - more

      Merafe Resources cuts dividend, warns of pressures as works through Rustenburg restructure - Ferrochrome producer, Merafe Resources, reduced the total dividend following a full-year loss for its 2019 financial year – results it acknowledged were “underwhelming”, and that were precipitated by a decline in pricing for the steel-making mineral. - more

      More women working in mining in Colombia – report - A report by the Colombian Mining Association states that the number of women working in the industry is growing. - more

      China’s Exports Slump as Coronavirus Forces Shutdowns - China’s exports fell more than expected in the first two months of this year as the coronavirus outbreak led to extended holidays, depressed factory output, and blocked transport and movement across the country. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Plunge, U.S. Yields Crater Amid Oil Shock: Markets Wrap - more

  Morning Nickel Prices

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

Friday, March 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $5.85/lb ($12,890/tonne). Indicators at 7:10 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouse rose slightly and started the day just over the 236,100 tonne level. The Shanghai Futures Exchange reports its stockpiles of nickel fell by 1,627 tonnes to total 33,237 tonnes this week. Markets are in a foul mood to end the week, with the base metal board a solid sea of red, and precious metals all in the green. US equity markets have been dizzying this week, starting in a recovery jump, a plummet, a bigger jump, followed by another plummet yesterday. One would think today would be the upside of the roller coaster ride, but futures show the market may open much lower for a second consecutive day. It's Friday and apparently traders of stock and/or commodities do not want to be caught defenseless over a weekend sure to supply more bad coronavirus news. Last weekend, we ended the week with the news it had hit our shores beyond the quarantined Americans we had brought in. Today, we end the week with around 200 cases and nearly a dozen deaths in the US, and around 100,000 cases worldwide. We are hearing estimates of between 1 and 3.4% fatality rates, which mean with if we had only had 10 deaths in the US last week, there is a probability that there are between 10,000 to 34,000 Americans walking around out there, who may not be aware they have the virus. We are sure the actual number is much lower, but it does offer an idea of what the next weeks may bring. In the mean time, it's the weekend. Enjoy your weekend, and stay safe - you are statistically still more likely to be hurt in a traffic crash than get sick from the coronavirus any given weekend, so buckle up so we can see you next week.
  • Average price of LME traded cash nickel so far this month - $5.73/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper, aluminium slump as virus spreads, threatens demand - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Scotiabank Coronavirus and its impact on metals - pdf here

Virus News and Numbers

Coronavirus - By The Numbers - here
Disinfectants for Use Against SARS-CoV-2 - pdf here

Beijing has announced any visitor from Italy, Iran, Japan or South Korea will be required to enter quarantine for 14 days before entering the city. In other words .... stay home. Bethlehem is now closed to visitors. Holy pilgrimages from multiple faiths are now on hold due to closures.

Note the "Epidemic curve of confirmed COVID-19 cases" chart mid way down this World Health organization daily report - more
Latest CDC press releases - more
Daily Briefing from China - 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 - Stimulus expectations strengthen most industrial metals - Prices of most industrial metals climbed on Thursday, supported by expectations of further measures from central banks and governments to shore up economic growth and demand weakened by the spread of the coronavirus. - more

      Global nickel production to decline significantly in 2020 – Fitch Solutions - Research agency Fitch Solutions expects global nickel production to decrease significantly over the course of this year, as major producer Indonesia’s nickel ore export ban comes into effect. - more

      New Caledonia's SLN suspends operations in Thio following strikes - New Caledonia's biggest private sector employer, SLN nickel, has suspended its operations in Thio following weeks of industrial action. - more

      Commodity economies face their own reckoning due to covid-19 - The reward for providing the world economy with the raw materials it needs to grow is perpetual vulnerability. - more

      China Baowu's crude steel output world's largest in 2019 - Steel giant China Baowu Steel Group announced Wednesday that it surpassed the Luxembourg-headquartered ArcelorMittal to become the world's largest producer of crude steel in 2019. - more

      AISI Releases February SIMA Imports Data - Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of February totaled 1,823,000 net tons (NT). - more

      Ely adopts pro-copper mining resolution, shunts Bois Forte Band boycott discussion - City Council will consider later this month a competing resolution saying Ely does not support a boycott of the Bois Forte Band's Fortune Bay Casino or any other business. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Top 10 Countries In The Global EV Revolution: 2019 Edition - more
  • Treasuries Surge While Stocks Tumble Worldwide: Markets Wrap - more

  Morning Nickel Prices

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

Thursday, March 5

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $5.75/lb  ($12,680/tonne). Indicators at 6:20 am CST today show nickel trading around $.06/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today just over the 235,900 tonne level. We are seeing a report in British media that there is a plan in place for the London Metal Exchange to close temporarily, if necessary, to help stop the spread of the coronavirus. We are finding no verification, nor details, and it makes complete sense. We might add that the British government seems to be confronting this whole coronavirus issue on a level we have yet to accomplish here in the States. We would call it fear mongering on this side of the pond, we suspect they call it preparing the public for potential disruptions. Nickel recovered some yesterday, and is trading at a bi-weekly high this morning. The Euro continues to trade higher against the US Dollar, which could be the push the bulls needed. Momentum appears to be shaky.
  • Average price of LME traded cash nickel so far this month - $5.70/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Expectations of more stimulus strengthen industrial metals - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Metal AM Magazine - pdf here
  • Scotiabank Metals Update: What does the Fed know...(that we don't)? - pdf here

Virus News and Numbers

Coronavirus - By The Numbers - here
Coronavirus: pet dog belonging to Covid-19 patient infected, Hong Kong health authorities confirm - more
Coronavirus more deadly than seasonal flu, US health officials say - more


Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper gains as Fed's rate cut gets positive response - Copper prices climbed on Wednesday as traders interpreted the U.S. central bank's rate cut as a positive move that will ease liquidity, but worries about demand in top consumer China dominated. - more

     Stainless steel growth unlikely in 2020 - The level of activity in the local stainless steel sector’s value chain has dwindled in the past decade, mainly owing to international competition, low steel prices and the slow growth of the local economy. - more

      Analysis: Europe steel-to-raw materials spreads recover on steel rise, iron ore, scrap declines - European HRC steel price spreads to major raw materials costs rose in February, on stronger HRC steel prices and lower iron ore and scrap prices, according to S&P Global Platts' estimates Wednesday. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Europe Stocks Drop With Futures; Treasuries Jump: Markets Wrap - more

  Morning Nickel Prices

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

Wednesday, March 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $5.70/lb ($12,560/tonne). Indicators at 6:15 am CST today show nickel trading around $.10/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Tuesday and started today just over the 235,400 tonne level. We said yesterday that we felt the market was betting the Fed would cut interest rates, and that we felt it was a 'fairly safe bet'. The problem comes when no one was really expecting it to happen so quickly, or too the degree it was cut. An emergency cut was announced and equity markets tanked; traders wondering why the Fed was suddenly 'so worried'. It happened mostly too late to affect nickel trading yesterday, but it appears the move spooked US Dollar traders as well, and with the Euro now trading higher, base metals typically follow. Market news continues to be light, as manufacturers, distributors, and end users appear to be entrenching in anticipation of potential coronavirus outbreaks. For those who are growth oriented, this situation offers an excellent opportunity to market ones self as a reliable 'second source' for customers with a loyalty to their current supplier. While there has been a big push on the part of many manufacturers to limit the number of sources used, this is one of those world events that doesn't care about that business model theory and uses it to disrupt fluidity. The distributors with a track record of success are already looking at the coronavirus as an opportunity in disguise.
  • Average price of LME traded cash nickel so far this month - $5.67/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper climbs as dollar weakens after Fed rate cut - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.293/lb
  • China Fastener World Magazine No.58 - online here

Virus News and Numbers

Coronavirus - By The Numbers - here
Coronavirus outbreak fans the flames of US-China decoupling debate in Washington - more
World Health Organization announces fatality rate adjusted to 3.4%. The fatality rate for the common flu is around .001%. - source
How to prepare and take action for COVID-19 - more

Unite, the largest trade union in Britain and Ireland, is warning that factories there may start shutting down or going to reduced hours due to a shortage of parts. Car plants are especially vulnerable.

Anthony Fauci might be the one person everyone in Washington trusts right now. .... “It's really, really tough because you have to be honest with the American public and you don't want to scare the hell out of them,” Fauci said. “And then other times, in attempts to calm people down, [leaders] have had people be complacent about it. This is particularly problematic in a ‘gotcha” town like Washington.” - source article

Surgeon General - "Seriously people. Stop Buying Masks! They are NOT effective in preventing general public from catching Coronavirus ..... "
Sanosil - Surgical masks do NOT protect against pathogenic aerosols, as they do not seal tightly. However, they are not completely useless: many infections with viruses (flu and corona viruses) occur by touching contaminated surfaces such as handles, lift buttons, ATM keyboards, etc. and then reaching into the mouth, nose or eyes. – According to studies, this happens up to 26 times per hour. A mask forms a physical barrier and can thus prevent this path of infection. In addition, a surgical mask protects the surrounding area if a patient wears one, as the aerosols are severely restricted when sneezing and coughing. However, almost the same protection as a surgical mask is offered by any scarf or neckerchief that is tied in front of the mouth and nose – a barrier is also placed between the hands and mucous membranes. - source (guess this explains why they keep telling us to wash our hands constantly)


Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Copper pulls back from one-week high despite U.S. rate cut - Copper tripped into the red on Tuesday, retreating from its highest level in more than a week, despite news of an emergency cut in U.S. interest rates and hopes about more stimulus spending. - more

      Global molybdenum production rises while use falls in Q3 - Figures released today by the International Molybdenum Association (IMOA) show that global production of molybdenum rose while usage fell in the third quarter of 2019 when compared to the second quarter of the same year. - more

      Cuba's nickel with certified quality - The 'Comandante Ernesto Che Guevara' cobalt and nickel production factory in Moa metallurgical mining municipality of this eastern Cuban province, is preparing to certify its fifth exportable item, according to reports. - more (Since 1996, under the Helms-Burton Act, it is illegal to import nickel from Cuba, and it is illegal to import any item, from any country, that contains nickel from Cuba. Can you prove that stainless steel you stock has absolutely no nickel from Cuba in it?)

      Ely voters remain divided on future of copper-nickel mining - A short drive up Highway 169 North out of Virginia brings you to the Iron Range city of Ely. - more

      Allseas plans deep sea metal mining future with converted drill ship - Swiss headquartered Allseas has acquired the former ultra-deepwater drill ship Vitoria 10000 for conversion to a polymetallic nodule collection vessel. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • El Niņo–Southern Oscillation likely to remain neutral to mid-year - more
  • U.S. Futures Rise After Primaries; Treasuries Gain: Markets Wrap - more
  • China steel rally an 'overreaction' as infrastructure spend 3% lower than last year - more

  Morning Nickel Prices

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

Tuesday, March 3

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $5.76/lb ($12,700/tonne). Indicators at 6:15 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Monday and started today's trading session just under the 235,300 tonne level. Nickel jumped yesterday, along with nearly everything else that is traded, but is slightly lower this morning. We saw one news outlet report an analyst credited the announcement that Indonesia had reported its first case of the coronavirus for yesterday's rise in price. We find that an incredible stretch, with all of the other supply and demand arena's being affected worldwide by the same virus outbreak. But some analysts feel a need to explain everything, so we just roll our eyes and move on. The coronavirus, no matter how much we would like to, continues to be impossible to ignore. The British government this morning, warned that at its peak, it is possible that 20% of all British employees could be absent from work with the virus.  This country has 40 cases. The U.S, on the other hand, would call this type of information 'political fear mongering', even though it has over 100 cases now. By their scenario, it doesn't mean 1 in 5 of a company's employees are out sick. It means they are planning for the possibility of area wide quarantine's, much like China and Italy, that could affect up to 20% of their work force. That is a staggering figure and honestly, we hope it 'is' fear mongering. Markets are starting to bet on some stimulus money being pumped into the economies, whether it be by cash infusions or a cut in interest rates. At this point, we suspect that is a fairly safe bet, although what effect it will have, remains to be seen.
  • Average price of LME traded cash nickel so far this month - $5.64/lb
  • LME nickel chart - here   /  Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper pushes to one-week high on bets for strong stimulus - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • Barchart 304 SS Scrap Index - $.286/lb
  • Sucden Financial Quarterly Metals Report - pdf here
  • Manufacturing Engineering: March 2020 - online here

Virus News and Numbers
We've discontinued posting daily W.H.O. numbers as they are posted at 10 am CET, which is very early in the morning US time and are thus, seriously outdated for American readers. The "By The Numbers" link appears to be updated more often.

Coronavirus - By The Numbers - here
Coronavirus escalation could cut global economic growth in half – OECD - more


The US' first coronavirus fatality was reported on Saturday. By Monday evening, the number had climbed to six.


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 rebounds on stimulus hopes after dire Chinese data - Copper and other industrial metals prices bounced back on Monday on hopes that global central banks will inject stimulus into sagging economies shaken by the coronavirus outbreak. - more

      Steel stockpiles in China a worrying signal - Iron ore miner Fortescue Metals has provided some comfort that the large build-up of steel inventories in China over the past few weeks could be quickly soaked up by stimulus packages and the resumption of the construction industry in coming months. - more

      Steel-Making Materials, Iron Ore And Coal, Could Be Virus Winners - Picking commodity winners at this stage of what could become a global economic slowdown courtesy of the China coronavirus is risky business but two steel-making minerals are starting to attract support; iron ore and coking coal. - more

      Import of stainless steel from Indonesia grows nearly nine times - ISSDA has requested the government to impose an ADD/CVD on imports of stainless-steel flat products from Indonesia, to counter Chinese imports, which are now being routed through ASEAN FTA route. - more

      Courtesy AISI - In the week ending on February 29, 2020, domestic raw steel production was 1,923,000 net tons while the capability utilization rate was 82.5 percent. Production was 1,917,000 net tons in the week ending February 29, 2019 while the capability utilization then was 82.4 percent. The current week production represents a 0.3 percent increase from the same period in the previous year. Production for the week ending February 29, 2020 is up 1.2 percent from the previous week ending February 22, 2020 when production was 1,901,000 net tons and the rate of capability utilization was 81.5 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Plug-In Electric Car Sales In January 2020: 150,000 - more
  • Futures Gain While Stocks Jump; Treasuries Edge Up: Markets Wrap - more

  Morning Nickel Prices

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

Monday, March 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $5.56/lb ($12,250/tonne). Indicators at 6:15 am CST today show nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell ever so slightly on Friday and started the month of March just under the 235,400 tonne level. That is a 38,514 tonne gain over the month of February, which works out to an average gain of 1,925.7 tonnes per day. Cash nickel averaged $5.78/lb in February, down from an average of $6.15/lb in January. The new week and month are starting out with investors in a buying mood. You have to look hard to find something trading lower this morning. Nickel bounced hard earlier this morning, and have been slowly losing momentum since. As news starts to trickle in today, we could see some of this early enthusiasm wain. Then again, with the US now feeling the effects of the coronavirus, with dozens of cases popping up over the weekend, from Florida to Rhode Island, to Illinois, to all of the west coast states, there may be some relief that we don't see zombies walking in the streets, so the inevitable has happened and it is no longer necessary to fret over the whole situation. We are, of course, down playing the real threat, and trying to understand what traders are thinking some days, is like solving a puzzle with half the pieces missing. We expect the month to be another month of volatility for traders, with headlines guiding the fear level, which will guide risk management.  For the month of March, we welcome Texas Pipe & Supply and their family of companies, as your news page sponsor. We invite you to visit their site and see for yourself, the services and product lines they offer. And we thank them for sponsoring March. It's a new month, and time for new goals. Congratulations to those who met their February goals, and to those who fell short, March offers you a month of redemption. Best of luck to all of our readers - may it bring you all success, but a healthy month, above all.
  • Average price of LME traded cash nickel so far this month - $5.78/lb (average for February)
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rebounds on hope for stimulus after dire factory data - more
  • Reuters Daily Inside Metals - pdf here 
  • SMM Evening Comments - more
  • ITA January Monthly Steel Fact Sheet - pdf here
  • The Australian Mining Review - pdf here
  • Metalforming Magazine March 2020 - online here
  • Distributor's Link (for Fastener Distributors) - online here

Total Deaths as of Yesterday
Total Infections as of Yesterday
2,977 (rose over 3000 early last evening)
87,137 (rose over 88,000 early last evening)
Virus News
Coronavirus - By The Numbers - here
Yes, it is worse than the flu: busting the coronavirus myths - more (quote - "... this could mean that current estimates of a roughly 1% fatality rate are accurate. This would make Covid-19 about 10 times more deadly than seasonal flu, which is estimated to kill between 290,000 and 650,000 people a year globally.")
Chinese manufacturing hits record low amid coronavirus outbreak - more


Last weekend saw the beginning of outbreaks in the Middle East and Europe. This weekend it appears the virus has been traveling "under the radar" in the US and has suddenly made its presence known on both sides of the country. While this week starts with more questions than answers again, it is the level of fear that will guide markets. The VIX, the so called fear index, is at readings last seen during the 2011 European sovereign debt crisis, and 2008 recession.

Lets look at what has happened over the past six Sunday's. We can only go back 6 because we are using World Health Organization numbers and they didn't start issuing coronavirus daily reports until just days before our first Sunday, January 26. Our six Sunday's are Jan 26th, Feb 2nd, 9th, 16th, 23rd and yesterday, March 1st. The Chinese death toll has risen from 56 to 305 to 812 to 1666 to 2445 to 2873. The rest of the world death toll, less China, has risen from 0 to 1 to 1 a second Sunday to 3 to 17 to 104 yesterday. On Jan 26th there were 10 countries reporting confirmed cases. This rose to 23 to 24 to 25 to 28 to 58 yesterday. Globally, the number of confirmed cases had gone from 2014 to 14557 to 37558 to 51857 to 78811 to 87137. From the numbers we can see that while China is showing signs of getting their outbreak under control, the rest of the world is just starting to feel the effects of the virus on the loose. The one negative we found in Chinese numbers is new infections bottomed out at 331 on Friday, but rose to 435 on Saturday and 579 yesterday. Nickel turned southward on Feb 13th, US equity markets a week later.


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 - Aluminium, zinc bounce after hitting multi-year lows on virus - Industrial metals prices carved out new lows on Friday as the coronavirus outbreak worsened, but most rebounded as traders cashed in profits and squared positions ahead of the weekend. - more

      Stainless Steel Markets Wane Following January Restocking - Global stainless steel purchasing activity is steady, at a level, generally, a little below that of one year ago. - more

      Indonesia to issue rules on nickel ore price around late March - Indonesia aims to issue around late next month a regulation governing selling prices of nickel ore, a Ministry of Energy and Mineral Resources official said on Friday, following complaints by miners. - more

      You must have heard of stainless steel pipe supplier said he can provide 12% nickel contained stainless steel pipe. - Stainless steel pipes with 12% nickel content are only found in the GB / T14976-2002 standard. The scientific name is 00Cr17Ni14Mo2, AKA 316L stainless steel pipe. - more

      Amy Klobuchar Has Been Weirdly Quiet About A Large Mining Controversy In Her Residence State - On a snowy afternoon final February, Sen. Amy Klobuchar introduced her bid for president of the US whereas standing on the financial institution of the Mississippi River in Minneapolis. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures, Stocks Turn Lower While Bonds Rally: Markets Wrap - more

  Morning Nickel Prices

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


March Archives


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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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