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


Stainless Steel News and Nickel Prices

Duraloy
Please visit our May sponsor - Duraloy Technologies helps keep this daily news site free to visitors



Elg Metals Worldwide








Friday, May 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.13/lb ($17,915/tonne). Indicators at 7:00 am CST today show nickel trading around $.04/lb  lower. Stockpiles of nickel stored in LME approved warehouses slipped on Thursday and ended that session just under the 247,500 tonne level. We ended 2020 at 246,708 tonnes and after a large gain, we closed January 4th (the first working day) of this year at 247,980 tonnes. As you can see, we are very close to going negative for the year. Talks continue between officials representing Allegheny and USW, and they may be making some real progress, because the public rhetoric has all but disappeared in the last week. The United Steel Workers union is working another big strike in Canada with ArcelorMittal workers. That one has been going on since May 10th, the Allegheny strike is nearing its third month. We want to thank Duraloy for sponsoring the month of May. Companies like Duraloy and ELG Metals make this daily page possible, and we thank them for that support. The US is honoring its war dead this coming Monday, in what was once called Decoration Day, but is now Memorial Day. It is a national holiday and our next update will be on Tuesday. Have a safe and relaxing weekend and we hope to see you next week, as we begin a new month.
  • Average price of LME traded cash nickel so far this month - $7.98/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper edges lower on China demand concerns  - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3821
  • SHFE Stainless Steel  Futures (yuan) -  15,950
  • US Economic Indicators:Industrial Production - pdf here
  • ISSF Stainless Steel in Figures 2021 - pdf here
  • BEA Gross Domestic Product, First Quarter 2021 (2nd Estimate) Corporate Profits (Preliminary Estimate) - more
  • Advance Report on Durable Goods Manufacturers' Shipments, Inventories, and Orders - pdf here (-1.3%)

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper rises as strike fears and Chinese data reassure bulls - Copper and other industrial metals prices rose sharply on Thursday, helped by strong U.S. data, the threat of strikes at mines in top copper producer Chile and an easing of fears that China, the biggest consumer, will tighten monetary policy. - more

      Column: The human bottleneck in critical minerals supply chains - The road to decarbonisation will be paved with copper. As well as lithium, nickel, cobalt and a host of other minerals, all critical for electric vehicles (EVs), solar panels and wind farms. - more

      Chinese industry association outlines seven proposals to safeguard domestic steel supply - The China Iron & Steel Association (CISA) proposed an industry self-review initiative on Wednesday, urging the iron and steel industry to strengthen market order to further promote high-quality development of the industry while vowing steel enterprises will adjust their export strategies to safeguard the domestic supply. - more

      Nornickel has high potential for sustainable development – the Union of Industrialists - The Russian metal mining giant Norilsk Nickel, which faced the problem of climate change at its main production sites – in the Russian Arctic, when a state of emergency was declared in the Russian Arctic city of Norilsk due to the melting of permafrost, on May 29, 2020 from the fuel tank at the TPP of Norilsk Energy Company No. 3 about 21,000 tons of diesel fuel flowed out into the neighboring river. - more

      POSCO enters battery recycling biz - POSCO will push forward a lithium-ion battery recycling business together with China's Huayou Cobalt, as part of the steelmaker's move to strengthen the eco-friendly business. - more

      If you hear your teen mention nickel ore, don't get too excited. It is doubtful he cares about the nickel ore you care about. Here is why - Subnautica: Below Zero - Where To Find Nickel Ore - more (if we mention Elon Musk may be looking for sea monkey's, you will know what we mean)

   Other News

  • Reuters The Day Ahead - pdf here
  • US, China trade chiefs hold ‘candid’ talks in first call - more
  • Eurozone economic sentiment soars to highest level since January 2018 - more
  • U.S. Futures Rise With Stocks; Treasuries Steady: Markets Wrap - more

  Morning Stats and Prices

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


Thursday, May 27

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.83/lb ($17,270/tonne). Indicators at 6:15 am CST today show nickel trading around $.09/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended yesterday's session just below the 247,800 tonne level. With three trading sessions left in the month, we have yet to record a single day of LME inventory gains this month. Nickel continues its recovery, with nickel trading above the $8.00/lb level this morning. China is finding that controlling commodity prices aren't nearly as easy as they might hope. As the world's largest consumer of most base metals, including nickel, they  feel the pinch caused by soaring raw materials. But they are also benefiting from a rebounding world economy and we doubt they are having much difficulty in passing these cost increases on to their consumers, including those in the U.S.. Hopefully their reaction is a normal complaint of countries subject to importing their raw materials, and not more of their little tit for tat with Australia. We are not one of those who have decided China is our new enemy, and have immense admiration for the nation  and its history. We tend to base our belief off history, and not bend with the political winds of the day. That said, this little spat with Australia is about as impressive to the world, as our country's 60 year hang-up with Cuba. China - blocking imports of coal, and lobster, and wine from Australia, will do little more than harden the resolve of those who might have felt their government was initially wrong. Australia - elect some politicians with some class. The world may eventually decide that the coronavirus was in fact, caused by an accidental release from a Chinese lab. But pointing fingers, while people are dying and countries should be working together, puts the accused on the immediate defensive, and nothing like the bite from a cornered dog. Let's chalk this up to governments were concerned and angry and with the worst behind us, let;'s work together to insure this never happens again, or at the very least, we come up with a faster response mechanism. China has a right to its privacy, but if it wants to play in the open economy of the world, it must decide to set aside some of its 'rights' and prepare to be accountable to its people and those nation it wants to trade with. One thing this whole pandemic proves conclusively. A virus knows no political borders. Ok - off our pulpit. Its the day before Friday and the downhill slide is in effect. Be careful and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.99/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises on supply worries in Chile - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3826
  • SHFE Stainless Steel  Futures (yuan) -  15,525
  • U.S. Imports for Consumption of Steel Products April 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper boosted by planned labour strikes at Chile mines - Copper prices gained on Wednesday as a planned labor strike at the world’s biggest copper mine in Chile threatened already low global supplies of the metal. - more

      Can metal stocks gain their mojo back? Here's what analysts say - With the latest overhang on the outlook, and after a sharp run-up, can metal stocks surprise with more returns? Tune in to learn more - more
  • Fitch Ratings says raising short-term global metals and mining price assumptions - more
      South Korean buyers turn to purchase POSCO’s stainless steel due to China’s cancellation of export tax rebates - It was reported that the South Korean stainless steel market has been being unstable since China canceled its export tax rebates at the end of April. - more

      Exclusive: KPMG managers back liquidation of Singapore firms in $1 billion nickel scandal - Singapore firms accused of being involved in a $1.1-billion bogus nickel trading scheme should be placed in liquidation as there was no business to be preserved, interim judicial managers at accounting firm KPMG have said in a document seen by Reuters. - more

      Biden's EV metals import plan unlikely to match climate goals -executives - The Biden administration's plan to rely on ally nations for most of the metals needed to build electric vehicles ignores the complexity of modern mining and could keep the United States from meeting aggressive climate goals, according to industry executives. - more

      Does China’s appetite for steel makes carbon-cutting journey difficult? - China’s huge appetite for steel, as its economy begins to grow again after a Covid-19-triggered slowdown last year, is making its efforts to reduce its carbon footprint difficult. - more

      Eurozone nowcast indicator shows clear momentum building - The ING Weekly Economic Activity Indicator (WAI has returned to levels last seen in the summer of 2020. - more  (probability of shortages expanding will increase)

  • World Faces Longer Supply Shortage as China’s Factories Squeezed - more

      GOP Senators Counter with $1T Infrastructure Bill - President Biden has dropped his $2.3 trillion opening bid to $1.7 trillion, but the two sides still can't agree on how to pay for it. - more

  • NAW Leads Distributor Groups in Opposition to Proposed Tax Hikes - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Coal Hits A Three Year High Despite China Trying To Control Prices - more
  • Futures Drop Ahead of U.S. Data; Treasuries Steady: Markets Wrap - more

  Morning Stats and Prices

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


Wednesday, May 26

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.75/lb ($17,080/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just under the 248,400 tonne level. Nickel traded quietly yesterday, and is trading slightly higher this morning. The Euro is trading off yesterday's highs, so no help is coming from that quarter. All eyes are on China and what action their government might or might not take to calm down commodity pricing. Reuters has published an article below on "China bars banks from selling commodities....", which, if that turns out to be the biggest gun they fire, will do little to keep traders enthusiasm in check. Citi analyst Max Layton was quoted in a another Reuters article as calling the current price movement part of "knee-jerk price corrections" due to concerns over China metals policies. This could reflect the big debate going on about whether the current price spikes are part of a larger commodity 'super cycle', or a bullish run with limited staying power. Only time will tell who, if anyone, is right. It's hump day and the last full week of May. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.00/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning -
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3826
  • SHFE Stainless Steel  Futures (yuan) - 15,295
  • Chromium Mineral Industry Surveys March 2021 - pdf here
  • Molybdenum Mineral Industry Surveys January 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Chinese crackdown subdues industrial metals - Copper prices slipped on Tuesday as the market fretted over China’s crackdown on prices of industrial materials, but a weaker dollar and expectations of robust demand and tight supplies helped to support sentiment. - more

      Indian stainless-steel prices stable despite commodity boom: ISSDA - In the wake of an appeal made by downstream industry bodies to the Ministry of Steel to regulate steel prices and impose a temporary ban on steel export, the Indian Stainless Steel Development Association (ISSDA) has brought to the fore the price situation of Indian stainless steel industry, and the need to view the price movements and trade regulations in a holistic perspective. - more

      China bars banks from selling commodities-linked products to retail buyers - sources - China’s banking regulator has asked lenders to stop selling investment products linked to commodities futures to mom-and-pop buyers, three people with knowledge of the matter told Reuters, to curb investment losses amid volatile commodity prices. - more

      Nickel rates plunge 6.03% on China move to control prices; analysts see further weakness - The International Nickel Study Group data showed that the metal deficit widened to 16,000 tonnes in March from a modest 600 tonnes deficit in February. - more

      “What gets measured gets done”: the importance of life cycle data - We all know that climate change is the biggest global challenge. We all need to work towards a reduction of greenhouse gas (GHG) emissions – and ideally become carbon neutral by 2050. - more

      US trade chief calls for modernization of 1962 law used for metals tariffs - U.S. Trade Representative Katherine Tai called on Congress to modernize the Cold War-era law that former President Donald Trump used to impose tariffs on imported steel and aluminum. - more

      5 Minutes With ID: Paul Reilly on Selling Through Tough Times - Sales guru Paul Reilly discusses what it's been like for salespeople to adjust their tactics during the pandemic, and what he's preaching to sales pros coming out of it. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Equity Futures Rise as Inflation Fears Wane: Markets Wrap - more

  Morning Stats and Prices

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


Tuesday, May 25

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.77/lb ($17,125/tonne). Indicators at 6:05 am CST today show nickel trading unchanged . Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just under the 249,400 tonne level. Nickel climbed back above the $17,000.tonne level yesterday, and so far this morning, has moved very little. The Euro is trading higher again, which adds positive sentiment, but apparently not enough to move the trading price. Interesting read below "No commodities super-cycle....". Apparently the Asian markets are more skeptical of a so-called commodity super cycle, than some of the western metals analysts have been. We have spent a lot of time in the last few years, talking about the on again, off again, nickel export ban out of Indonesia. For years, Indonesia seemed more like an island chain of 'potential' nickel mining, but little more. After the so called 'pig nickel' became so popular, Indonesia played catch up to the Philippines, but in just a few short years, has become a major player in the nickel industry. And not just nickel mining. Every day it seems like a foreign investor is committing to building a mine, a smelter, or manufacturing EV batteries in that country. If you haven't noticed yet, you soon will. Indonesia appears to be offering a serious economic challenge to China, so this could get interesting in the coming years. It's the "well it's no longer Monday" day. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.01/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - China crackdown on prices subdues industrial metals - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3845
  • SHFE Stainless Steel  Futures (yuan) -  15,305
  • The Weekly JMP Report - 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 up, but potential Chinese price curbs weigh - Copper prices rose on Monday as a softer dollar spurred modest purchases, but gains were capped by concerns over price curbs on industrial metals in top consumer China. - more

      No commodities 'super-cycle' but copper demand from green economy bright - Commodities markets are unlikely to experience a “super-cycle” in the next few years, experts and audience polled at an online metals seminar on Tuesday said. - more

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

      Iron Ore Price Caves But Miners Remain Hugely Profitable, For Now - Chinese Government pressure on steel mills and commodity traders started to pay off earlier today when the iron price fell below $200 a ton for the first time in three weeks. - more

      Indonesia says building $1.2 bln battery plant with S.Korea's LG - State-owned Indonesia Battery Corporation (IBC) and South Korea's LG will build a new battery plant worth $1.2 billion with the capacity of 10 gigawatt hours (GWh), Indonesia's investment minister said on Monday. - more

      Global steel price records continue to be broken - Steel transaction values are at levels not seen before. The MEPS global averages, for strip mill products, moved to new record highs in May. - more

      Molybdenum Trade Rises -  We looked at chrome in the last issue and cover molybdenum (moly) in this one. Moly is less easy to cover in that the processing stages vary from other raw materials used in stainless. - more

      Courtesy AISI - In the week ending on May 22, 2021, domestic raw steel production was 1,793,000 net tons while the capability utilization rate was 79.0 percent. Production was 1,223,000 net tons in the week ending May 22, 2020 while the capability utilization then was 54.6 percent. The current week production represents a 46.6 percent increase from the same period in the previous year. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Will Joe Biden Continue America's Delusional Cuba Policy? - more
  • Biden looks abroad for electric vehicle metals, in blow to U.S. miners - more
  • Futures Buoyed by Fed Price Comments; Dollar Slips: Markets Wrap - more

  Morning Stats and Prices

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


Monday, May 24

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.58/lb ($16,715/tonne). Indicators at 6:00 am CST today show nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and start the week just under the 249,700 tonne level. Nickel's tradng price decline on Friday was pretty dramatic, but thanks to a rising Euro, the price has stabilized this morning. It was the lowest close this month. The talk is all about China, as it typically is, and the market's fear that China might take some measure to keep commodity price hikes in check. It is possible they may try something, as their effort to curb steel output has so far, proved unsuccessful, and  two birds could be easily hit with one stone here. US stainless steel surcharges for June are out and it's been many years since they have been this high (updated here). Still looking for a June banner sponsor and if you are interested please contact us. It's the beginning of the final work week of the fifth month of 2021. Stay safe out there and have a great week.
  • Average price of LME traded cash nickel so far this month - $8.04/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Base metals decline as China's regulatory curbs spook traders - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3831
  • SHFE Stainless Steel  Futures (yuan) -  15,280

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 extends retreat on fears over Chinese price crackdown - Copper prices eroded further on Friday as some investors took profits and others worried about threats by top consumer China to curb surging commodity prices. - more

       April 2021 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 169.5 million tonnes (Mt) in April 2021, a 23.3% increase compared to April 2020. - more

      Taiwan becomes main stainless steel buyer of Indonesia - According to the Chinese government policy, the export tax rebate from China of certain steel products has been canceled from May 1st, which almost cover all kind of stainless steel products. - more

      China's Huayou invests in $2.1 bln Indonesia nickel project - China’s Zhejiang Huayou Cobalt Co said on Monday it would partner electric vehicle battery maker EVE Energy and others in a $2.08 billion nickel and cobalt project in Indonesia. - more

      Generalist funds flow back into mining as prices, inflation climb - Surging prices for commodities, stronger balance sheets and rising inflation have lured back to mining stocks generalist investors that for years shunned the sector, data shows. - more

      ISM: 2021 US Manufacturing Revenue to Grow 7.2% - The Institute for Supply Management, perhaps best known for its monthly manufacturing Purchasing Managers Index (PMI), is forecasting solid industry growth for 2021. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • COVID-hit Taiwan shuts down all shareholder meetings through June - more
  • U.S. Futures Gain; Dollar and Treasuries Steady: Markets Wrap - more

  Morning Stats and Prices

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


Friday, May 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.78/lb ($17,150/tonne). Indicators at 6:30 am CST today show nickel trading around $.01/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today's session just under the 250,300 tonne level. Nickel fell in overnight trading, but has recovered most of that loss in this morning's trade. Yesterday's $200 tonne loss remains in place. It's been a choppy month, with last week's recovery vaporized in this week's trading. One day we are teasing the $18,000 tonne level and a few days later, we are nearer the $17,000/tonne level. And this is the second time this month we can say that. Volatility implies traders nerves are getting frayed and only time will tell if the bulls or bears benefit the most from the uncertainty. China continues to express its concern over high commodity prices, but we tend to believe most of this is aimed at iron ore prices, which China is forced to buy much of from Australia; a country they are having quite a spat with at the moment. However, any action they might take against iron ore, could and likely would, have a direct impact on nickel as well. Thus, nickel prices are being affected by geo political spats once again. It's Friday and while our world leaders can't seem to play well together in the sandbox, they can all agree that it's Friday. As the most interesting man in the world might say, "Stay well my friend" and have a  great weekend!
  • Average price of LME traded cash nickel so far this month - $8.07/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - LME copper eyes worst week since Sept 2020 on China price curb fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3836
  • SHFE Stainless Steel  Futures (yuan) -  15,545
  • Stainless steels: the sustainable option - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper up on dollar, strike possibility in Chile - Copper prices rose on Thursday as a softer dollar and worries about a strike in Chile spurred purchases, but plans by top consumer China to manage the supply, demand and prices of commodities capped gains. - more

      Has the bull market in commodities ended after the "pause button" was pressed? - Has the commodities bull market ended after the "pause button" was pressed? Only a week apart, the country will once again strike a heavy blow at commodity prices, which has been very rare in the past few years. - more
  • Great commodities boom of 2021 hits ‘healthy pause’ amid wider selloff - more
      Allegheny Technologies to Cut 250 Jobs - Pittsburgh specialty metals producer Allegheny Technologies (ATI) announced this week that it will cut 250 jobs--more than a third of its workforce. - more
  •  ATI plans to return to the bargaining table on Friday  - more
      Record opportunities, risks in record-high steel prices - Prices for flat-rolled steel products have been on a relentless uptrend for the past nine months, reaching their highest levels in contemporary history. - more
  • EU long product prices surge as financial problems grow - more
      Rumors about duty increase in China’s steel exports bring uncertainties to Taiwan’s stainless steel market - It was heard from China’s industry that the State Council of China may impose additional steel export tariffs on July 1, especially products whose 13% export tax rebate was canceled previously, including stainless steel, hot-rolled coils, cold-rolled coils, and wire rods. - more

      Philippine mines bureau boss sees end to open-pit mining ban soon - The head of the Philippines’ Mines and Geosciences Bureau (MGB) on Thursday told Reuters he expected a ban on open-pit mining to be lifted soon, following a government decision to welcome new mining agreements after a long moratorium. - more

    BASF, Canada in early talks on EV battery production - source - Several companies, including Germany's BASF SE, are in preliminary talks about tapping a federal clean tech fund to set up production for electric vehicle batteries in Canada, a government official with knowledge of the discussions said. - more

      5 things you need to know about inflation - Prices are rising. Is it a temporary response to pandemic recovery -- or cause for serious concern? - more

  • The Challenges Ahead for Outside Salespeople - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks, U.S. Futures Rise at End of Volatile Week: Markets Wrap - more

  Morning Stats and Prices

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


Thursday, May 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.99/lb ($17,350/tonne). Indicators at 6:05 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just under the 250,500 tonne level. Stockpiles are now below where they ended on March 1st, a day before stockpiles reported a huge gain of over 8,200 tonnes.  The $18,000/tonne level once again put up a wall that the nickel bulls could not break thru, and nickel has been in a slide since. For those who remain skeptical of technical trading, worldwide markets soured on inflationary concerns just about the time nickel was able to get back to the $18,000/tonne level, and have followed the market's negative sentiment since. So far this morning, nickel is trading subdued, with tin the only base metal trading in the green at the moment. Posco bought a 30% stake in the Ravensthorpe nickel mine from First Quantum for $240 million dollars. To give you an idea of what kind of bargain this is, this mine cost BHP $2.2 billion dollars to build, and when they closed it in January 2009, less than a year after its opening, they took at $3,6 billion dollar write off. So for a "mega mine" that has never lived up to its full potential, the price of $240 million dollars is, in our opinion, quite a bargain. It's Thursday and the downhill slide is in full swing. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.08/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper up on dollar, strike possibility in Chile - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3842
  • SHFE Stainless Steel  Futures (yuan) -  15,445
  • Jindal Stainless Earnings Report - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper sinks as inflation fears eclipse South American political risk - Copper prices fell on Wednesday as rising inflation pushed investors into a risk-off sentiment, offsetting the impact of potential supply disruptions in the top producing region of South America. - more

       January to March 2021 Metals Balances - The nickel market was in deficit during January to March 2021 with apparent demand exceeding production by 18.5 kt. In the whole of 2020, the calculated surplus was 95.4 kt. - more

      Canada's First Quantum sells Australia nickel mine stake to POSCO for $240 mln - Canadian copper miner First Quantum Minerals on Wednesday said it agreed to sell a 30% stake in its Ravensthorpe nickel mine in Western Australia to South Korean steel maker POSCO for $240 million. - more

      BHP : Q&A transcript - Thanks for those opening remarks. So now we have our fireside chat, and just to remind everyone that audience members can ask questions via the broadcast panel, and James and I will try to work those in. - more

      Who’s looking out for the metal fabricators? - Domestic metal manufacturing companies appear to be paying the tab in the current trade war - more
  • 9,700 tons of nickel at Paducah DOE site could bring millions into the community - more

      Why U.S. Hiring Slowed - Employers added a comparatively paltry 266,000 jobs in April, down drastically from March. Is there a labor shortage? Are higher unemployment benefits to blame? - more

      A Strange Interstellar Comet Discovery Hints at a Solar System Like Our Own - The "unexpected finding" of nickel gas around interstellar comet 21/Borisov lines up with "astonishing" new observations of local comets, scientists say. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Tesla Reportedly Has Some 10,000 Cars On Factory Hold - more
  • U.S. Futures Fall as Stocks Mixed; Treasuries Up: Markets Wrap - more

  Morning Stats and Prices

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


Wednesday, May 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.16/lb ($17,980/tonne). Indicators at 6:05 am CST today show nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and ended that session just below the 252,100 tonne level. Yesterday, stockpiles fell by over 1,000 tonnes for the third consecutive session. Cancelled warrants, which nearly hit 29% a few weeks ago, settled below the 27% level yesterday. The commodity board is a sea of red this morning, with cattle, hogs, and rice the only items trading in the green at the moment. Worldwide equity markets are trading in the red as well, with investor concerns about the threat of inflation apparently muffling otherwise positive economic news. In the mean time, we had another reader confirm demand in the U.S. exceeds supply in some areas of stainless steel product, and the 'concern' for future supply is forcing end users to order in excess to protect themselves. Thus like the toilet paper crisis in the early days of the pandemic, end users are taking measures they feel necessary to keep their establishment up and running. No one really blames them. Purchasing agents are paid to do just that - protect production with product on hand when needed at a competitive price. And when  supply is limited, that protection typically comes at the cost of the 'competitive ' price. We do not have a top banner sponsor for the month of June. If anyone is interested, please contact us at info at estainlesssteel.com and please put "stainless steel" in the subject line so we don't delete you along with the multitude of spam loaded with Lord knows what we get daily. It's hump day - stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.09/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls on inflation fears, Glencore's African mine restart plan - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3842
  • SHFE Stainless Steel  Futures (yuan) -  15,820
  • Vale Global Metals, Mining & Steel Virtual Conference 2021 - pdf here
  • Eramet 2021 Global Metals, Mining & Steel Conference - pdf here
  • Tackling the challenge of decarbonizing steelmaking - more
  • MINE Australia Magazine May 2021 - online here
  • SFSA CaSteel Reporter May 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Slumping dollar boosts base metals, zinc hits 3-year high - Most industrial metals prices rose on Tuesday as investors betting on a long period of low interest rates bought riskier assets, pushing global stock markets higher and dragging the dollar to its weakest since February. - more

      Take it to the limit - Credit limits and financing within the steel industry are becoming the major topic of the day, even ahead of material availability. - more

      DMCI expects strong recovery this year - DMCI Holdings Inc., the diversified conglomerate controlled by the Consunjis, expects a strong recovery this year due although a return to its pre-pandemic performance is not seen until 2023. - more

      Vladimir Potanin Confirms Major Cuts to Sulphur Dioxide Emissions in Norilsk - Vladimir Potanin, CEO of Nornickel, the world’s largest producer of palladium and high-grade nickel, has confirmed that the company is on track to drastically reduce sulphur dioxide emissions in Norilsk. - more

      China's Lygend starts production at Indonesian nickel-cobalt HPAL plant - China's Lygend Mining said on Wednesday its $1.05-billion nickel and cobalt smelting project in Indonesia had churned out its first batch of mixed hydroxide precipitate (MHP). - more

       China-Australia relations: is this the start of ‘mining boom 2.0’ as Canberra rakes in cash from iron ore rally? - China is making Australia rich as record-breaking iron ore prices lift revenues for both miners and the Australian government, despite a long-standing bilateral political conflict, but Australia is unlikely to enjoy another decade-long mining “boom”, according to analysts and economists. - more

      Canadian miner Sherritt names industry veteran Leon Binedell as new CEO - Canadian miner Sherritt International Corp on Tuesday named industry veteran Leon Binedell as its new chief executive officer, replacing David Pathe who had announced in November his decision to step down from the role. - more (unless things have changed recently, Mr Binedell is now barred from entry into the US as part of the Helms-Burton Act)

   Other News

  • Reuters The Day Ahead - pdf here
  • 1,600 Layoffs Coming to IL Jeep Plant - more
  • Stocks, U.S. Futures Drop on Inflation Concern: Markets Wrap - more

  Morning Stats and Prices

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


Tuesday, May 18

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.13/lb ($17,930/tonne). Indicators at 6:00 am CST today show nickel trading around $.12/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just below the 253,400 tonne level. The last time we saw nickel stockpiles grow was April 21st, and we started the year just shy of the 248,000 tonne level. Price wise, nickel remains bullish and the 'correction' of last week is over, with prices back where they were before the drop. We will have to see if the $18,000 level puts up the same level of resistance it did earlier this month, but so far this morning, nickel is trading nearly $200/tonne over that level and has stalled, but has yet to show signs of retreat. The Euro continues to climb against the US Dollar and adding positive momentum to traders looking for a reason to remain bullish. Your average cost of 300 series stainless steel primary ingredients for April 2021 and their change from March are 1) Nickel - $7.48/lb  2) Molybdenum - $11.26/lb 3) Chromium - $3.53/lb 4) Iron - $1.04/lb . Based on those numbers, one might think stainless steel prices were pretty stable during the month, but we haven't heard many reports of that. Stay safe and enjoy your Tuesday!
  • Average price of LME traded cash nickel so far this month - $8.08/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Slumping dollar boosts base metals, zinc hits 3-year high - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3866
  • SHFE Stainless Steel  Futures (yuan) -  15,870

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 turns higher as strike risk offsets weak China data - Copper rose back towards last week’s record high on Monday as the threat of strikes at mines in Chile and a belief among investors that prices will rally further offset weak factory data from top metals consumer China. - more

      Russia's stainless steel imports slide in Q1 2021 y-o-y - According to statistics released by the Russian Special Steel and Alloys Consumers and Suppliers Association (SpetsStal Association), compared to the figure in the first quarter of 2020, Russia's stainless steel imports reduced by 7%, amounting to 91,555 tons in the first quarter of this year; however, the figure was up by 37.7% compared to the same period in 2019.  - more

      Chinese Steel Export Ban Could Cut The Iron Ore Price And Hurt Australia - A ban on steel exports is one way China might achieve it’s aim of reducing the price of iron ore and delivering a fresh blow to its trade-war target, Australia. - more
  • China April crude steel output hits record despite production controls - more

      The commodity boom and Sault Ste. Marie - Suddenly, commodities are popular again. Just before Christmas, Goldman Sachs Group released a market outlook that predicted the onset of a new commodity bull market. - more

      BHP CEO Lays Out How World’s Number-Two Miner Is Adapting to ESG Pressure - To environmentalists, the idea of investing in a metals and oils producing conglomerate might seem beyond the pale. - more

      Courtesy AISI - In the week ending on May 15, 2021, domestic raw steel production was 1,799,000 net tons while the capability utilization rate was 79.2 percent. Production was 1,223,000 net tons in the week ending May 15, 2020 while the capability utilization then was 54.6 percent. The current week production represents a 47.1 percent increase from the same period in the previous year. - more

      EU, US Temporarily Suspending Tariffs in Steel Dispute - The European Union and the United States on Monday decided to temporarily suspend measures at the heart of a steel tariff dispute that is seen as one of the major trade issues dividing the two sides. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Russia begins complex clean-up operation after huge 100-ton oil spill in remote Far North as authorities initiate criminal case - more
  • U.S. Futures Rise With Stocks as Dollar Retreats: Markets Wrap - more

  Morning Stats and Prices

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


Monday, May 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.96/lb ($17,540/tonne). Indicators at 6:00 am CST today show nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started the week just under the 255,000 tonne level. Nickel is trading higher this morning, but off earlier highs. Friday's rebound was helped by a resurgent Euro, which continues to gain this morning. Year to date nickel prices are up 5.6%, and amongst base metals, trails the pack. Copper is up nearly 32% and aluminum is up 24%+, but tin takes the prize with a YTD gain of over 45%. Zinc and lead are both up under 10%, but have increased more than nickel. That said, it is a reminder that as bad as nickel price increases are, they could be much worse. And before things settle down again, they might. Some of the stainless steel price increases we are seeing coming out of China are mind numbing, and appear to reflect more of a resurgence in demand, than mirroring any price instability in nickel. It's a new week, and we are not only half way thru the month, but also half way thru the second quarter of 2021. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.08/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper edges up on Chilean supply worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • FN The Monday Report - more
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3847
  • SHFE Stainless Steel  Futures (yuan) -  15,670
  •  Industrial Production: Manufacturing: Durable Goods: Raw Steel - more
  • US Economic Indicators: Manufacturing Production & Capacity by Major Industries - pdf here
  • US Economic Indicators: Durable Goods Orders & Shipments - pdf here
  • US Economic Indicators: Industrial Production - pdf here
  • FRED Manufacturers Sales - more
  • U.S. Economy in a Snapshot - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper heads for weekly loss, retreating from record high - Copper prices were on course for their first weekly decline since the start of April on Friday as rising inflation fears and a dip in demand from China dragged prices down. - more

      COVID-19 Impact & Recovery: Metals and Mining Outlook for H2 2021 - The last 12 months have been a dynamic time for the metals and mining industry, with the sector facing sharply lower prices early in the COVID-19 pandemic only to see many commodities hit multiyear highs in recent months. Here are three big trends to watch for the rest of 2021 and beyond. - more

      Supply squeeze and demand upturn will keep base metal prices up - Rebound in demand from two big countries, China and the US, as they spend more on on infrastructure development has led the rise in demand - more

      Jim Rogers is bearishly bullish on commodities - Jim Rogers, the investment guru and author of the best seller Investment Biker, who got started in business at the age of five selling peanuts, is cautiously betting on what he knows intrinsically from childhood—commodities. - more
  • Iron ore and steel prices reach record highs this week globally - more
  • Steel prices: How we got here and what could happen - more
  • Rocketing Chinese steel prices prompt regulator to warn mills -more
      Sanjeev Gupta-owned GFG's steel and aluminium assets - Britain's Serious Fraud Office (SFO) is investigating Gupta Family Group Alliance over suspected fraud, fraudulent trading and money laundering, including its financing arrangements with collapsed Greensill Capital, it said on Friday. - more

      Metal Shipments Up Sharply From A Year Ago - In April steel and aluminum shipments in The United States and Canada have finally recovered to pre-covid levels. April monthly shipment rates in both countries for either metal again exceeded the monthly rates for any month in 2020-2021. - more

      Judge delivers new blow to foes of Twin Metals mine - A federal judge on Thursday rejected a second attempt by opponents of the proposed Twin Metals copper-nickel mine in northeastern Minnesota to invalidate the mineral rights leases needed for the project. - more

      April US Industrial Output Up a Modest 0.7% - U.S. industrial production increased for a second straight month in April as more factories came online after being shutdown by winter ice storms. - more

  • Average Inflation over the Pandemic Avoids 'Base-Effect' Distortions - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Why global commodity supercycles are not good for Paris climate targets - more
  • U.S. Futures Drop With Europe Stocks; Gold Climbs: Markets Wrap - more

  Morning Stats and Prices

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


Friday, May 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.81/lb ($17,216/tonne). Indicators at 6:55 am CST today show nickel trading around $.10/lb  higher. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Thursday and remain just over the 256,100 tonne level. Having fallen below $17,100 tonne early this morning, nickel appears to have returned to its bullish ways - at least for now. The Euro has reclaimed most of what it lost against the US Dollar on Tuesday, so that might be helping motivate the buyers. Nickel, for all practical purposes, has seen all its May gains evaporate, but is holding on to the big jump it made the last week of April. Busy news and report day so we leave you with it. Stay safe out there, and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $8.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper heads for weekly loss, retreating from record high - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3853
  • SHFE Stainless Steel  Futures (yuan) -  15,700
  • Are Inflationists  Finally Right, or Still Crying Wolf? - more
  • Producer Price Index by Commodity: Steel Wire, Stainless Steel - more
  • Producer Price Index by Commodity: Corrugated Paperboard in Sheets and Rolls - more
  • Producer Price Index by Industry: Corrugated Shipping Containers for Paper and Allied Products - more
  • Producer Price Index by Commodity: Metals and Metal Products: Steel Wire, Stainless Steel - more
  • Producer Price Index by Commodity: Metals and Metal Products: Stainless and Other Alloy Steel Scrap - more
  • Who’s Ready to Spend? Constrained Consumption across the Income Distribution - 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 - Firm dollar, slowing China loan data weigh on copper - Copper prices slipped on Thursday as a higher dollar, weak loan data from top consumer China and worries that Chinese authorities could cap commodity prices triggered a selloff. - more

      Russia's Nornickel resumes full operations at one of its flooded mines - Russian metals producer Nornickel has resumed full operations at one of its two mines hit by flooding this year, it said on Thursday. - more
  • Russian businessman faces 5bn divorce battle after UK court ruling - more
      World's biggest steel producer sees order book fills as China rebounds -  Tsingshan Holding Group, the world's biggest stainless steel producer, has sold the entire output of its Chinese plants through June, said two sources familiar with its sales, a sign of potentially strong domestic demand for the metal. - more
  • China iron ore futures fall over 7% after record-setting spree - more
      Acerinox predicts optimistic market for H2 2021 - Acerinox, a Spanish stainless steel group, indicated that it was optimistic about the second half of 2021, with 80% more orders than in March 2020, 40% more than in March 2019. - more

     Tesla in talks with Chinese company for low-cost battery supply deal - Tesla is in talks with Chinese battery maker EVE Energy to add the firm to its Shanghai factory supply chain, sources said, as it seeks to boost procurement of lower cost batteries. - more

      Analysis: Japan Inc squeezed by surging costs and frugal consumer fears - At his factory in Tokyo, Shigeki Kato has a grim strategy to deal with rising costs that threaten profit margins: grin and bear it. - more

      Crazy metal prices inflate miners’ capex conundrum - Soaring commodity prices should be a green light for global miners. At $10,000 and $200 a tonne, copper and iron ore are both way above the levels at which it makes commercial sense for BHP, Rio Tinto and others to start digging new holes. - more

      Commercial freight tonnage slumped in March, DOT stats show - As supply chain issues crimped truck freight, index fell to lowest level since June 2020 even while nation’s economy continued to soar, BTS says. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Ports of Los Angeles, Oakland set April container volume records - more
  • Scorned ex-wife set to make divorce history with possible $18 billion payout - more
  • More than 700 ships, barges stalled in Mississippi River near Memphis: Coast Guard - more
  • U.S. Futures, Stocks Gain as Inflation Fears Ebb: Markets Wrap - more

  Morning Stats and Prices

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


Thursday, May 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.14/lb ($17,942/tonne). Indicators at 6:00 am CST today show nickel trading around $.33/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just over the 256,100 tonne level. Nickel is dropping like a rock this morning, down just over 3% at the moment. Shanghai nickel ended from 2-1/2 to 3-1/2% lower overnight, depending on what contract was being traded. Reuters gives a bucket list of reasons in their morning briefing below, so we let them give the reasons 'why'. We tend to think the big traders felt the market was over extended and it was time to take some profits off the table; the profits being mostly at the expense of the fund investors, who don't typically make trading decisions on a daily basis. In other words, what might be helping you today, in lower nickel prices, could easily be at the expense of your retirement fund later on. Base metals are notorious for attracting the 'get rich quick' small trader, who see the exaggerated spikes as opportunity, only to wake up and find a rout is the rule of the day. Stainless steel users are less concerned with the degree of the up and down movements, all they see is the dreaded price volatility. It's 'almost Friday'. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.15/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Firm dollar, slowing China loan data weigh on copper - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Stahl's Metals Daily - more
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3859
  • SHFE Stainless Steel  Futures (yuan) -  15,700
  • Truck Tonnage Index - 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 clings to gains near record high on demand hopes -  Copper climbed on Wednesday as expectations of strong demand in a lower carbon economy and a recovery from the pandemic in Western nations lured in funds. - more

      Taiwan’s stainless steel export prices boosted by China's cancellation of export tax rebates - China started to implement a new export tax rebate policy on May 1, including the cancellation of a 13% export tax rebate on stainless steel products, which blocked China’s stainless steel exports. - more

     The infrastructure war between China and the United States is fuelling the commodities rally - There are all sorts of wars, a shorthand term beloved by politicians, economists and journalists. There is the trade war, the diplomatic war, the new Cold War, the war against the pandemic. - more

      U.S. Job Openings Soar to Highest Level on Record - U.S. employers posted a record number of available jobs in March, illustrating starkly the desperation of businesses trying to find new workers as the country emerges from the pandemic and the economy expands. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Stocks Slide to 6-Week Low; Oil Retreats: Markets Wrap - more

  Morning Stats and Prices

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


Wednesday, May 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.16/lb ($17,995/tonne). Indicators at 6:00 am CST today show nickel trading around  unchanged. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and now totals just under the 256,500 tonne level. Nickel is unchanged this morning, a rarity even when markets are quiet, but the second time we've reported it this month already. What was the $16,000/tonne level offering support a few weeks ago, is now the $18,000/tonne level offering some resistance. We've seen nickel trade over the $20,000/tonne earlier this year, so we have some room before we start testing highs. Stainless steel prices around the world continue to rise. Considering equities took another bath yesterday, nickel, and the base metals sector as a group, held up defiantly. Asian equity markets continued their slide overnight, European markets are rebounding this morning, and US futures remain questionable. So some hesitancy in nickel this morning, is not entirely unexpected. It's hump day and day twelve of May. Stay safe out there and have a wonderful day. 
  • Average price of LME traded cash nickel so far this month - $8.15/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper holds near record high on inflation worries, demand hopes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) -
  • SHFE Stainless Steel  Futures (yuan) -  $.3859

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 back as bullish investors bet on shortages - Copper prices rebounded on Tuesday as investors renewed their buying spree, hoping that supply constraints and buoyant demand would push the market to new peaks. - more

      Yusco’s fire accident brings uncertainties to stainless steel prices - Nickel prices have rebounded strongly since the end of April. The base price of 304 2B cold-rolled stainless steel in Asia hiked by US$50 in total last week. - more

       What does the China ‘trilemma’ mean for metals? - China may want commodity prices to stabilise but its environmental and economic goals suggest demand will remain strong. - more
  • China steel futures extend gains on production curb worries, peak season demand - more
      Pacific Nickel Mines acquires 80pc of Kolosori Nickel Project - Pacific Nickel Mines (PNM) has officially acquired an 80-per-cent interest in Kolosori Nickel (KNL). - more

      How Distributors Can Sustain Growth in the New Normal - Blind spots can undercut even the best-laid plans for growth. Here's how distributors can keep potential pitfalls in sight. - more

      Critical US infrastructure can be hacked by anyone - The rise of the Internet of Things (IoT) has ushered in a new niche of widespread security vulnerabilities. (dated July 2020) - more

  • How to protect our critical infrastructure from attack (dated March) - more
  • Colonial pipeline hack claimed by Russian group DarkSide spurs emergency order from White House - more 

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Weaken Before Inflation Data, Bonds Rise: Markets Wrap - more

  Morning Stats and Prices

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


Tuesday, May 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.05/lb ($17,745/tonne). Indicators at 6:00 am CST today show nickel trading around $.11/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just below the 258,300 tonne level. Nickel lost around $400/tonne during a two hour correction yesterday afternoon. This morning the commodity board has far less red showing and nickel has gained back around $200 of that late day loss. Not really sure what caused the market to have a mini correction yesterday, but commodities, as well as equities, got a case of the late day nerves. Equities around the world are still showing the jitters this morning, but base metals are all trading in the green. Media coverage seems to be pointing the finger everywhere, but inflation concerns get a majority of the blame. Inflation can sometimes be good for those who trade in rocks. It's Tuesday and day two begins. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.15/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper bounces back as bullish investors bet on shortages - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3890
  • SHFE Stainless Steel  Futures (yuan) -  15,410
  • April 2021 Fastener Distributor Index - pdf here
  • The Weekly JMP Report - 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 slips amid investor jitters after rallying to peak - Copper slipped on Monday after touching a new record peak as bullish investors who recently entered the surging market became nervous about a possible correction. - more

      Fire accident occurred in Taiwan’s Yusco on May 9 - Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, faced a fire accident in its mill in Kaohsiung last night (May 9).  - more

      Charges laid over New Caledonia's Vale unrest - Charges have been laid against six Kanak leaders in connection with last December's violence at the Vale nickel plant in New Caledonia. - more

      Courtesy AISI - In the week ending on May 8, 2021, domestic raw steel production was 1,774,000 net tons while the capability utilization rate was 78.1 percent. Production was 1,223,000 net tons in the week ending May 8, 2020 while the capability utilization then was 55.4 percent. The current week production represents a 45.1 percent increase from the same period in the previous year. - more

      Transforming the Distribution Supply Chain With a Connected Network - To compete with the leaders in the industry, distributors need total supply visibility that allows them to achieve better planning, procurement, storage, customer experience and delivery practices. - more

  • March Metalworking Machinery Orders Accelerate 16% From February - more
  • Why U.S. Hiring Slowed - more
      Stainless steel: everything you need to know - Stainless steel is known for its excellent resistance to corrosion. It is used in many aspects of our day-to-day life such as heavy industry, architecture, real estate, automobile manufacturing, surgery and dentistry and the list goes on. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Tech-Fueled Selloff Goes Global on Inflation Fears: Markets Wrap - more

  Morning Stats and Prices

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


Monday, May 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.19/lb ($18,053/tonne). Indicators at 6:05 am CST today show nickel trading unchanged . Stockpiles of nickel stored in LME licensed warehouses fell on Friday - it's twelfth straight session - and start this week just under the 259,100 tonne level. The $18,000 tonne level continues to put up some psychological resistance, although the bullish sentiment appears to be very strong. If you want to know where the term 'hot commodity' comes from, look at any commodity trading board and you'll get an idea. Everyone wants to own some rocks with something inside of them, and those who already do, are reaping the reward of earlier buys. Downstream users, like the stainless steel industry have been here before, and will be here again. It's been far worse than this for them, so the experienced, old timers just accept it and move on. This may be new for the EV industry, so we say welcome to the cart, being pulled behind the bull. It's not the most scenic ride you'll ever take, and it has some odourous disadvantages, but you can still say you are along for the ride. It's Monday and the second week of the fifth months begun. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.14/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits record high on higher demand hopes, tighter supply - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3868
  • SHFE Stainless Steel  Futures (yuan) -  15,500
  • ING Commodities are buoyant but supply concerns are still a worry - more
  • Mortgage Delinquencies Decrease in the First Quarter of 2021 - more
  • Imports of Nickel in the United States increased to 162.13 USD Million in March from 153.74 USD Million in February of 2021 - more
  • Monthly Wholesale Trade - pdf here
  • Global Manufacturing PMIs - pdf here
  • United States Gross Federal Debt to GDP - more
  • United States Federal Government Budget - more
  • The Australian Mining Review - online here
  • Jamie Dymon Annual Letter to Shareholders - more
  • US Economic Activity - (updated on Monday's before noon EST) - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper scales record high on industry and speculative buying - Copper burst higher on Friday to a record peak, fueled by speculators and industrial buyers on the back of rosy economic data as Western economies recover from the pandemic. - more

      Tsingshan & Hongwang jointly invest in Indonesian stainless steel - A project kickoff of Tsingshan Group and Hongwang Group’s joint investment of building a stainless steel cold rolling project in Indonesia was held from April 27 to 28, 2021. - more

      Low carbon world needs $1.7 trillion in mining investment - Mining companies need to invest nearly $1.7 trillion in the next 15 years to help supply enough copper, cobalt, nickel and other metals needed for the shift to a low carbon world, according to consultancy Wood Mackenzie. - more

      One Worker Dead In New Caledonia Power Plant Blast - An explosion rocked a power plant supplying electricity for a metals processing site in France's Pacific territory of New Caledonia Monday, killing one employee, its operator said. - more

      Door open for Twin Metals? - Biden’s AG Secretary says administration looking to find balance between preservation and economic growth in country’s rural areas - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Iron Ore Turns ‘Very Hot’ as 10% Surge Adds to Commodities Boom - more
  • Nasdaq Futures Lower; Gas Adds to Commodities Boom: Markets Wrap - more

  Morning Stats and Prices

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


Friday, May 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.12/lb ($17,900/tonne). Indicators at 6:05 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and ended that session just under the 260,000 tonne level. Showing some hesitation at the $18,000/tonne level, nickel is trading just north of that level this morning. Interesting article below titled "A Tale of Two Hemispheres". While it was a full week in the US. it was shorter by a day in much of the rest, and much shorter for the Chinese. We hope it was a good one for you and that your weekend proves better. Stay safe out there, Happy Mother's Day to those of you qualified, and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $8.13/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits record high on industry and speculative buying - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3874
  • SHFE Stainless Steel  Futures (yuan) -  15,200
  • Outokumpu interim report January – March 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Aluminium extends rally as China-Australia spat deepens - Aluminum on Thursday approached levels not achieved since 2018, closing in on $2,500 a tonne as positive economic data and rising tensions between top producer China and major raw materials supplier Australia added momentum to the rally. - more

      US' stainless steel shortage expected to continue in short term - In the US, the imbalance between the supply and demand of stainless steel flat products caused by the epidemic will intensify in the coming months. In this market, severe shortages are unlikely to be resolved in the short term. - more

      ISRI2021: A tale of two hemispheres - Two stainless steel and nickel industry analysts who spoke at the ISRI2021 Nickel and Stainless Spotlight session described a stainless steel market with a very different production method in China versus most of the rest of the world. - more

      Full year 2020 data show gradual return to growth as EU COVID measures recede - EU28 apparent steel consumption fell (-11.1%) in 2020. It is set to rebound (+11.7%) in 2021. - more

  • Updated EU industrial policy strategy shows firm EU support for steel sector’s decarbonisation efforts in post-COVID era – Steel industry sees urgency for EU Steel Action Plan - more

      Hundreds of US manufacturing companies ask President Biden to terminate Section 232 steel & aluminum tariffs - A group of over 300 businesses manufacturing in the U.S. - from family-owned metalforming shops to nationally branded companies - sent a letter to President Joe Biden today requesting the immediate termination of the Section 232 steel and aluminum tariffs that were initiated three years ago under the Trump administration. - more

  • Fastenal Sees Narrow April Sales Growth as Fasteners Far Outperform Safety - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China April exports rise 32.3% y/y, imports +43.1% y/y - more
  • Stocks Climb Before Jobs Data; Copper Hits Record: Markets Wrap - more

  Morning Stats and Prices

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


Thursday, May 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.17/lb  ($18,013/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just over the 266,500 tonne level. Nickel fell as much as $500/tonne early this morning, but has bounced back. Canceled warrants for LME nickel have jumped over the past few days. After spending April in the 23-24% range, that number jumped to 27% yesterday and near 29% today. This means someone is reserving nickel, and it remains to be seen if this is a reflection of an increase in actual demand - or merely a way for the largest of the traders to make demand look higher than it actually is, with the nickel being quietly moved out of LME warehouses but not actually being used.  It's been done before and there is nothing illegal about it, so a question mark now resides over the cancelled warrant number. It's Thursday and we are on the downhill slide. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.13/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Aluminium extends rally as China-Australia tensions add to supply fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3881
  • SHFE Stainless Steel  Futures (yuan) -  15,475
  • Durable Goods Orders& Shipments - pdf here
  • Recycling Today May 2021 - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper hits 10-year high on hopes for demand - Copper hit a fresh 10-year high on Wednesday as some of the world’s largest economies showed signs recovery from the COVID-19 impact, boosting expectations of increased demand. - more

      Strong demand, savings help steelmaker Outokumpu beat forecasts -  Finnish stainless steel maker Outokumpu on Thursday posted stronger than expected first-quarter earnings, aided by cost-cuts, increased demand and lower raw material costs. - more

      AISI Releases April 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 April totaled 2,452,000 net tons (NT)*. This was a 9.9% decrease from the 2,722,000 permit tons recorded in March and a 6.3% increase from the March final imports total of 2,308,000. - more

      Fastener Distributor Index Slows Considerably in April; Outlook Remains High - Sales eased from sky-high levels in March to still strong performance last month, while supply chain and freight concerns persist. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • US and China to assess Phase 1 deal soon: Biden trade chief - more
  • U.S. Futures Climb as Stocks Mixed; Dollar Slides: Markets Wrap - more

  Morning Stats and Prices

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


Wednesday, May 5

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.00/lb  ($17,635/tonne). Indicators at 6:00 am CST today show nickel trading around $.16/lb  higher. Stockpiles of nickel stored in LME licensed warehouses have fallen the last few sessions and started today just over the 261,200 tonne level. Remember way back, eight working days ago, when nickel was trading at $16,000/tonne. This morning, it has already peaked at $18,000/tonne. You are welcome to make up whatever reason you like for this bullish turn. 2020 was forecast to be the year the world ran out of nickel, but so far nickel stockpiles have gained consistently. So either the bulls think they know something you don't, or they hope they know something you don't, or they are merely trying to take as much money from the late rally arrivals as they can. We will give them one thing. You can't turn on the news anymore without there being a story on something the world is short on - from semi conductors to cars to chickens to chlorine tablets. Nickel, of course, does not start with the letter "c" and thus, we are not running out of it, yet. It is however, increasing in price along with nearly everything else. More reports than news stories today. China returns to work tonight (tomorrow) and it will be interesting to see how quickly they can play catch up to this London rally. One thing that certainly comes with higher nickel prices - higher stainless steel prices. Have a safe and great hump day!
  • Average price of LME traded cash nickel so far this month - $8.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning -Copper hits 10-year high, eyes record levels on demand hopes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - closed
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3881
  • SHFE Stainless Steel  Futures (yuan) -  closed
  • Global Manufacturing PMIs - pdf here
  • March 2021 Trade Gap is $74.4 Billion - more
  • U.S. International Trade in Goods and Services - pdf here
  • Manufacturers' Shipments, Inventories, and Orders - pdf here
  • U.S. Imports for Consumption of Steel Products March 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Copper prices resume climb towards $10,000/t -  Copper prices climbed back towards $10,000 per tonne on Tuesday, supported by prospects for higher demand while inventories dwindle. - more

      China’s metal imports from Myanmar show mixed trends post the coup - Chinese trade data gave a mixed snapshot of neighbor Myanmar’s ability to keep up metal shipments in March amid unrest after February’s coup, with flows of nickel pig iron (NPI) dwindling to almost nothing but those of copper doubling month-on-month. - more

      South African market reels from steel shortages - South Africa has not been spared the global trend of steel shortages created by the coronavirus pandemic. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Tech Leads Rebound in U.S. Futures; Oil Advances: Markets Wrap - more

  Morning Stats and Prices

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


Tuesday, May 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.01/lb ($17,665/tonne). Indicators at 6:05 am CST today show nickel trading around $.13/lb higher. LME stockpile numbers are delayed this morning and will be updated tomorrow. For the month of April they rose 1800 tonnes. The bull continues to run amongst all LME traded base metals, with nickel's +2% increase this morning, once again leading the pack. LME cash nickel averaged $20/tonne more in April than it did in March, and now you know why we used the term 'channel' so often. Technicals are flashing nickel is overbought, but continue to tip to the bullish side. Chinese markets remain closed until Thursday for Labour Day. Ton of news and reports below. We asked last Thursday what ever happened to all the dire forecasts of peak nickel. On Friday, Andy Home of Reuters asked a similar question and his article can be found below. We want to welcome back Duraloy Technologies as our May banner sponsor. It is thanks to Duraloy, and our side banner sponsor, ELG Metals, that this page is updated daily and kept current. Please visit their web sites and see if they offer a service you might benefit from. It's Tuesday, and the fourth day of the fifth month of 2021. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - 
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper prices resume climb towards $10,000 - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - closed for holiday
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3924
  • SHFE Stainless Steel  Futures (yuan) -  closed for holiday
  • Global Manufacturing PMIs - pdf here
  • US Industrial Production - pdf here
  • Personal Income and Outlays - more
  • University of Michigan: Consumer Sentiment - more
  • Poseidon Nickel Presentation - pdf here
  • St George Mining Ltd Presentation - pdf here
  • Vale Presentation - pdf here
  • Effect on Machining On Stainless Steel - pdf here
  • Nickel: The Critical Metal That Will Drive the Electric Vehicle Revolution - pdf here
  • How to troubleshoot holemaking in stainless steel - more
  • Worldwide Manufacturing PMI - more
  • The PUC Report - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper deflates below $10,000 ahead of holiday in China - Copper drifted lower on Friday, hovering below the $10,000 level it briefly broke through a day earlier as the dollar strengthened and some speculators locked in profits. - more

      Indonesia, the puzzle of nickel's competing narratives: Andy Home - The global nickel market recorded a supply-demand surplus of 108,000 tonnes last year and is on track to record another 45,000-tonne surplus this year, the International Nickel Study Group (INSG) found. - more

      Industry worries about prospects of stainless steel exports after China adjusts tax rebate - Recently, China canceled the export tax rebate on steel products, covering almost all of the stainless steel products. The industry has expressed concerns about China's stainless steel exports in the future. - more

     Indonesia's Antam Q1 nickel ore output up more than four-fold y/y - Indonesian state miner Aneka Tambang (Antam) said on Monday its nickel ore output rose more than four-fold in the first three months of 2021 compared to the same period a year ago. - more

      EU imposes provisional AD duties on stainless steel cold-rolled flat products from India & Indonesia - The European Commission announced on April 30 that a provisional anti-dumping (AD) duty will be imposed on stainless steel cold-rolled flat products originating in India and Indonesia, which will be implemented after the full announcement in the official gazette. - more

      High steel prices not eroding demand across industry - yet - Steel prices just keep moving higher and higher. At some point, prices will get too high, and fabricators and manufacturers will stop buying. Demand will stall. Or so goes the conventional wisdom. But it hasn’t happened yet, and it may not this year. - more

      The rise and fall of metals tycoon Sanjeev Gupta - British industrialist of the Liberty House group, Sanjeev Gupta’s companies seemed to be prospering until his main lender, Greensill Capital, imploded last month. - more

  • KPMG to oversee companies caught up in alleged nickel fraud - more

      Supply Chain Issues Slow April US Manufacturing Growth - Growth in U.S. manufacturing slowed slightly in April partly due to a snarled global supply chain after hitting a 37-year high in March. - more

  • Single Screw Causes $2.2M in Damage - more
      Courtesy AISI - In the week ending on May 1, 2021, domestic raw steel production was 1,788,000 net tons while the capability utilization rate was 78.7 percent. Production was 1,238,000 net tons in the week ending May 1, 2020 while the capability utilization then was 55.2 percent. The current week production represents a 44.4 percent increase from the same period in the previous year. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Slip as Tech Weighs; Dollar Jumps: Markets Wrap - more

  Morning Stats and Prices

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



April Archives


Chart temporarily down

Nickel Graph Temporarily Down

Chart temporarily down


Translate this page to French | German | Spanish | Italian | Portuguese | Chinese | Japanese | Korean | Russian


(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.




Price of Nickel

Nickel Graph Temporarily Down

Daily Commodity Prices

Site Pages

Stainless Steel Surcharge
Worldwide PMI

Archives

2021
January February March
April May June July August
September October

2020
January February March
April May June July August
September October
November December

2019 and prior