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Stainless Steel News and Nickel Prices



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Friday, May 31

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $9.12/lb  ($20,115/tonne). Indicators at 5:55 am CST today show nickel trading  unchanged. Stockpiles of nickel stored in LME licensed warehouse rose on Thursday and started today just over the 83,600 tonne level. Shanghai nickel edged higher to 151,650 y/t overnight. Nickel is quiet this morning as a weaker US Dollar competes with weaker Chinese manufacturing numbers and all eyes are on US inflation numbers today. It's the last working day of the second month of the second quarter of 2024 and we again take the opportunity to note our news site sponsor, P.A. Inc. Their continued support keeps this site live while so many other free business sites come and go. We thank them for that support and encourage you to click the banner above and visit their site. If they offer a service you might use, please call them. And with that we end our coverage of May. We hope you have a safe and great weekend and invite you to drop by next month. 
  • Average price of LME traded cash nickel so far this month - $8.85/lb

  Reports

  • Reuters metals morning - Copper extends losses after weak factory data from China - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Thursday's market review - Copper stumbles as funds liquidate amid rate worries - Copper prices dropped on Thursday as funds sold off bullish positions, triggered by concerns that high interest rates are ... - more

    Stainless steel markets May 2024  - The world stainless association has today released the stainless steel consumption forecast for Euro/Africa, the Americas, Asia without China and China. - pdf here

    Growing defence measures likely after EU’s tariff hikes - Increased calls for sanctions to protect stainless steel producers from the growing capacity of Chinese and Indonesian mills could limit supply options ... - more

    Eramet's New Caledonia nickel plant needs supply within days, CEO says - The nickel processing plant of New Caledonian producer SLN will need supplies of ore in the coming days to ensure its furnaces keep ... - more

   Nickel prices expected to remain volatile in short term - The London Metal Exchange (LME) nickel futures price slightly increased by US$23/ton and closed at US$20,490/ton on May 29. - more

    BHP walks away from $49 billion takeover offer for Anglo American - BHP Group said on Wednesday it did not intend to make a formal offer for Anglo American AAL.L, walking away from its $49 billion takeover ... - more

  • How BHP's failed six-week pursuit of Anglo American unfolded - more
  • Anglo starts formal divestment of coal, nickel after rebuffing BHP, CEO says - more

   Russia's Nornickel forecasts lower global nickel surplus in 2024, bigger palladium deficit - Russian mining and metals giant Nornickel GMKN.MM on Thursday lowered its forecast for the global nickel surplus this ... - more

    Sumitomo cuts FY23-24 Madagascar nickel output guidance - Japanese trading firm Sumitomo has announced a cut in nickel production guidance at its Ambatovy project in Madagascar for the April 2023-March ... - more

   Other News

  • Distributors Remain Optimistic Amid Rising Prices, Hiring Challenges - more
  • Experts unpack ATA’s latest campaign to boost industry’s image - more
  • Marcos' Surprising Embrace of US Puts China on Back Foot - more
  • Opinion: Achieving net zero targets neither feasible nor realistic - more
  • The Effects of Quitting Smoking - more
  • Home prices in the United States - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Thursday, May 30

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $9.30/lb ($20,500/tonne). Indicators at 5:45 am CST today show nickel trading around $.18/lb lower. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Wednesday and remain just over the 83,600 tonne level. Shanghai nickel fell sharply overnight, to 151,400 y/t. Nickel is lower this morning as the US Dollar strengthened against the Euro yesterday. Stay safe out there and have a great Thursday! 
  • Average price of LME traded cash nickel so far this month - $8.84/lb

  Reports

  • Reuters metals morning - Shanghai aluminium at 2-year high; other base metals slump ... - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Beige Book - May 2024 - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Wednesday's market review - Copper climbs on China outlook; firm dollar, rising stocks cap gains - Copper prices climbed on Wednesday on expectations of better demand from top consumer China, while .... - more

    LME brand approval cements Indonesian nickel ascendancy: Andy Home - The London Metal Exchange (LME) has approved the listing of the first ever Indonesian brand of refined nickel. - more

    Nickel illustrates China conundrum on critical minerals - Nickel offers a case study of the complex challenges the world faces in ramping up the use of minerals needed to drive the global clean energy transition. - more

    Brazil decides to impose AD measures on cold-rolled stainless steel products of grades 200 series & 410 from China - On May 24, the Brazilian authority announced that it decided to impose anti-dumping duty ... - more

    EU imports of Russian iron and steel, nickel, copper and aluminum down 11%-49% - The European Union continues to cut its imports of Russian iron and steel, aluminum, nickel and copper in the first quarter ... - more

    3 Nouméa municipal police officers face prosecution after violent video goes viral - Three Nouméa municipal policemen are now facing a formal criminal inquiry after a disturbing video was posted in a ... - more

    Wyloo to build Ontario battery metals processing plant - Nickel miner Wyloo, owned by Australian mining magnet Andrew Forrest, has unveiled plans for a downstream battery materials processing facility in ... - more

   Other News

  • Embrace the Rise of Inside Sales - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Wednesday, May 29

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $9.33/lb ($20,575/tonne). Indicators at 5:45 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and started today, reading just over the 83,600 tonne level. Switching to the July contract on the Shanghai Metal Market, nickel rose to 156,410 y/t, where June would have risen only to 155,670 y/t. Lot of news today, including reports that Indonesia is importing huge amounts of nickel ore from the Philippines, and the LME is looking into trading stainless steel scrap and ferrochrome. If that doesn't get you reaching for the Tums this morning, nothing will. Stay safe out there and have a great hump day, already.
  • Average price of LME traded cash nickel so far this month - $8.82/lb

  Reports

  • Reuters metals morning - Copper climbs on China outlook; firm dollar, rising stocks cap gains - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • State Coincident Indexes - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper climbs, but high China stocks suggest ample supplies - Copper prices climbed on Tuesday as the prospect of interest rate cuts, a weaker dollar and some strong data ... - more

    LME open to consider new ferrochrome, stainless scrap futures contracts: BIR - The London Metal Exchange would be open to discussing potential new cash-settled futures contracts for stainless steel ... - more

    Stainless Steel Market Dynamics and Outlook - In early April, stainless steel prices experienced a decline, prompting some mills to reduce production due to losses and shortages of ferronickel. - more

    Anti-dumping duty on stainless steel tubes from China - he recommended anti-dumping duty ranges from $114 per tonne to $3,801 per tonne of stainless pipe and tubes of different grades. - more

    Indonesia buying record amounts of Philippine nickel ore due to quota delays, sources say - Top nickel producer Indonesia has bought record volumes of nickel ore from the Philippines since April as smelter ... - more

    Nickel prices steady at around 20,000/ton, boosting stainless steel export prices - International nickel prices have recently steadied around the US$20,000/ton mark, showing resilience in the market. May's ... - more

    Vale moves closer to deal for Onca Puma nickel mine to resume operations - Vale and the Brazilian state of Para have moved closer to an agreement that could allow the mining group to resume operations ... - more

    New Caledonia unrest pushes nickel sector deeper into crisis - Weeks of unrest in New Caledonia have plunged the archipelago's nickel industry, already on government life support, closer to catastrophe... - more

  • French President lifts state of emergency in New Caledonia 'for the time being' - more
  • Emmanuel Macron’s gamble on New Caledonia’s crisis - more

   As EV demand rises, battery costs go up - The price of EV battery cells and packs is expected to rise this year for the first time in decades, as demand for electric vehicles runs ahead of the industry's ability ... - more

    Steel Service Centers concerned about the impact of CBAM - Last Thursday, EUROMETAL’s “SSC Arbeitskreis” (Steel Service Center Working Group) brought together industry leaders from Germany, Austria, ... - more

    Courtesy AISI - In the week ending on May 25, 2024, domestic raw steel production was 1,735,000 net tons while the capability utilization rate was 78.1 percent. Production was 1,754,000 net tons in the week ending May 25, 2023 while the capability utilization then was 77.9 percent. - more

   Other News

  • ‘A catastrophe unfolding’: Nickel miners criticised for interacting with remote tribe - more
  • The evolution of Chinese steel mills: from robots to peacocks - more
  • Post-COVID, China is back in Africa and doubling down on minerals - more
  • Tesla Wants Its Suppliers To Make Parts Outside Of China And Taiwan Amid Rising Tensions - more
  • Biden to end tariff exclusions on hundreds of Chinese products - more
  • US Consumer Confidence Rose in May - more
  • Act, React - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Tuesday, May 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $9.21/lb ($20,300/tonne). Indicators at 5:35 am CST today show nickel trading around $.04/lb  higher.. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and ended that week just over the 83,700 tonne level. Shanghai nickel rose to 152,930 y/t on Monday and 154,880 y/t overnight. The U.S was closed Monday for Memorial Day, while England and the London Metal Exchange were closed for Spring Bank Holiday. Everyone is open for business this morning, with nickel bouncing off the $20,000 tonne level on Friday. It continues to rise this morning on a stronger Euro. Plenty of news this morning so we leave you to it. Stay safe out there and have a great last week of May!
  • Average price of LME traded cash nickel so far this month - $8.81/lb

  Reports

  • Reuters metals morning - Base metals rise on rate-cut outlook, ..... - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Consumer Loans: Credit Cards and Other Revolving Plans - chart here
  • University of Michigan: Consumer Sentiment - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Friday's market review - Copper treads water as investors reassess recent rally - Copper prices were nearly unchanged on Friday, as traders and investors reassessed the sustainability of a recent red hot ... - more

    China’s stainless steel exports up 8.25 percent in January-April - In April this year, Chin's stainless steel imports amounted to 194,000 mt, up 27.08 percent month on month, while up 58.97 percent year on .... - more

    Steel at the center of political debate in US election year - Nippon has confirmed it intends to go ahead with its US$14.9 billion acquisition of US Steel after President Joe Biden said it was "vital" for the company ... - more

  • How the Section 232 tariffs on steel and aluminum harmed the economy - more

   Turkey’s stainless steel users concerned about cost rises amid possible AD measures - In the joint statement issued by 10 different non-governmental organizations formed by Turkish companies that process and ... - more

   French President Emmanuel Macron ends day of political talks with pro-France, pro-independence parties - French President Emmanuel Macron has ended a meeting-packed whirlwind day in New Caledonia with... - more

  • French claws in the Pacific - more
  • New Caledonia airport to remain closed until at least June 2 - more
   Gupta denies Trafigura allegations in nickel fraud case-court document - Lawyers for Indian businessman Prateek Gupta rejected commodity trader Trafigura's allegations of fraud against him in a court document ... - more
   Tesla teams to visit Indonesia to check on investment in EV components: government - Tesla, the U.S. automaker, will send delegations to Indonesia next month to discuss potential investment in a supply chain for... - more
  • A major Chinese nickel processing company expands investment in Indonesia - more

   Other News

  • What the U.S. Is Most Worried About - more
  • 1 in 7 Children Live in Poverty in the U.S. - more
  • Mom fined $88,000 after her children collected 72 clams — not seashells — at a California beach - more
  • Electric car drivers face astronomical costs to replace tyres - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Friday, May 24

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $9.15/lb ($20,170/tonne). Indicators at 5:55 am CST today show nickel trading around $.08/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and started today reading just under the 84,000 tonne level. Shanghai nickel rose to 152,780 y/t overnight. Nickel is bouncing a little this morning, most likely being helped by a stronger Euro. Bulls successfully kept the market above the $20,000 tonne level at closing yesterday, and entering a three day weekend for most Americans, the market could try to make up some lost ground - or not. The US celebrates Memorial Day on Monday and so our next update will be next Tuesday. Stay safe out there and have a safe and relaxing holiday weekend!
  • Average price of LME traded cash nickel so far this month - $8.79/lb

  Reports

  • Reuters metals morning - Copper treads water as investors reassess recent rally - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Thursday's market review - Copper dips for third straight day on profit-taking, weak demand - Copper prices fell for a third consecutive session as profit-taking continued on Thursday and consumers refused ... - more

    LME approves listing of first Indonesian nickel brand - The London Metal Exchange (LME) has approved the listing of the first Indonesian brand which can be delivered against the exchange’s primary nickel .... - more

  • China-Indonesia Nickel Dominance Fears Following LME Listing - more
    April 2024 crude steel production - World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 155.7 million tonnes (Mt) in April 2024, a 5.0% decrease compared ... - more

    In riot-scarred New Caledonia, France's Macron delays voting reform - French President Emmanuel Macron said on Thursday after a day of talks in New Caledonia that he would delay a voting reform that .... - more

  • 'Plea for dialogue' French Ambassador on New Caledonia - more
    Three steps towards ESG assurance for the nickel value chain - Dr. Veronique Steukers sets out three principles which will allow companies to manage and measure ESG impacts and engage on a path to improvement. - more

   Other News

  • EU reports no bird flu cases in humans or cows as virus spreads in US - more
  • China sharpens response, as US sets date for tariff hikes, pushes EU to follow suit - more
  • Truckload carriers hopeful but not calling cycle turn yet - more
  • China Hints at 25% Car Tariff as Deadline for EU Probe Looms - more
  • Russia May Try to Redraw its Boundaries in the Baltic Sea  - more
  • US steel buyers find value in Nucor Consumer Spot Price - more
  • Exclusive: Putin wants Ukraine ceasefire on current frontlines - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Thursday, May 23

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $9.24/lb ($20,380/tonne). Indicators at 5:50 am CST today show nickel trading around $.10/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Wednesday and started today reading just over the 84,000 tonne level. Shanghai nickel dropped to 151,410 y/t overnight. Nickel continued to fall on Wednesday, although not as much as it did the prior day. And it is down again this morning, although it has recently bounced back after it fell below the $20,000 tonne level. At least for now, that appears to be the level traders will do battle over. US stainless steel surcharges are out for June and if you have gotten used to them going down or staying basically the same, the market is here to remind you it will rarely be boring - (here). Stay safe out there and have a great Thursday!
  • Average price of LME traded cash nickel so far this month - $8.78/lb

  Reports

  • Reuters metals morning - not posted
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Delinquency Rate on Consumer Loans - chart here
  • Delinquency Rate on Commercial Real Estate Loans - chart

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Wednesday's market review - Copper retreats on profit taking, weak physical demand - Copper prices slipped on Wednesday as funds locked in profits from a rally to record highs that has curbed industrial ... - more

    China’s stainless steel imports & exports increase in Apr m-o-m, y-o-y - According to data from China’s customs, in April, China’s stainless steel imports were 194,000 tons, climbing by 27% from the previous ... - more

    Explainer: What New Caledonia riots mean for the nickel industry -  A wave of civil unrest in New Caledonia, a French overseas territory in the southern Pacific that is a leading nickel producer, has halted ... - more

  • Why is New Caledonia unrest causing nickel prices to soar? - more
  • New Caledonia unrest continues amid massive French security operation - pdf here
  • Macron arrives in riot-hit New Caledonia for high-stakes talks - more
    Indonesia’s nickel mining quotas fall short of demand - Indonesia's ministry of energy and mineral resources has approved 204 nickel mining work plans for exploration and production, according to market .... - more

    Anglo leaves door open to engage with BHP after spurning third offer - Anglo American, opens new tab has agreed to a one-week extension for BHP Group, opens new tab to make a binding takeover... - more

   Other News

  • China plastics probe hits EU, U.S., Japan, Taiwan: 5 things to know - more
  • China welcomes US tourists to experience the real China: Xi - more
  • US removes Section 232 tariff exemptions for 12 steel and aluminum products - more
  • Swap lines curbed global dollar shortages, appreciation during COVID-19 crisis - more
  • China’s $8.5 billion in steel spurs Latin America toward tariffs - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Wednesday, May 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $9.61/lb ($21,180/tonne). Indicators at 5:45 am CST today show nickel trading around $.17/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Tuesday and ended that session just under the 84,100 tonne level. Shanghai nickel slipped to 157,410 y/t overnight. Nickel is trading back under the $21,000 tonne level this morning, as some of the speculators take their profits to the sidelines. It's too early to tell if this run is over, but even with a large gain in LME stockpile numbers, the funds appear to be convinced base metals, nickel included, are a place to make some money these days. And until things in New Caledonia quiet down, they are probably right. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $8.75/lb

  Reports 

  • Reuters metals morning - Copper falls on waning China demand - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper dragged off record high by subdued physical demand - Copper prices fell on Tuesday, drifting away from the previous session’s record high as investors assessed the .... - more

    How is the violent unrest in New Caledonia impacting global nickel prices? - Global nickel prices have soared since deadly violence erupted in the French Pacific territory of New Caledonia last week. - more

    'France lost the plot': Journalist David Robie on Kanaky/New Caledonia riots - Liberation "must come" for Kanaky/New Caledonia, says one of the few New Zealand journalists who have worked consistently on ... - more

    Explainer-New Caledonia riots: why is President Macron headed to the restive French territory? - President Emmanuel Macron is flying to New Caledonia in a bid to calm tensions in the French overseas territory .... - more

    King says BHP prioritised shareholder returns over nickel jobs - Resources Minister Madeleine King says thousands of workers could pay the price for BHP’s underinvestment in ageing infrastructure, with the ... - more

    Courtesy AISI - In the week ending on May 18, 2024, domestic raw steel production was 1,728,000 net tons while the capability utilization rate was 77.8 percent. Production was 1,754,000 net tons in the week ending May 18, 2023 while the capability utilization then was 77.9 percent. - more

   Other News

  • Walmart fires back at Amazon in fast delivery race - more
  • Chinese-made Teslas pour into Canada as Biden erects US tariff wall - more
  • Six Countries That Aren’t Part of the International Criminal Court - more
  • Ireland, Spain, Norway announce recognition of Palestinian state - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Tuesday, May 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $9.80/lb ($21,610/tonne), although the trend was moving sharply lower as the market closed. Indicators at 5:45 am CST today show nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose for a ninth consecutive day and started today's session just under the 82,100 tonne level. Shanghai nickel rose to 157,810 overnight. Nickel got as high as just over the $21,700 tonne level in yesterday's trading, and fell over $500/tonne in after hours trading. It was a volatile day as skepticism and speculation butt heads. Until conditions stabilize in New Caledonia, stability in the nickel market is doubtful. So once again, we advise you to buckle up for the bumpy ride to come. Stay safe out there and enjoy your day!
  • Average price of LME traded cash nickel so far this month - $8.68/lb

  Reports

  • Reuters metals morning - Copper's record run at risk as US shipments calm speculator frenzy - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • The Commodities Feed: Metals surge higher - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Monday's market review - Copper's record run at risk as US shipments calm speculator frenzy - Copper's lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated ... - more

   Protesters block New Caledonia roads as French police pour in - A thousand police arrived in New Caledonia from France and the streets were relatively calm after a week of unrest, the French High Commission ... - more

  • French president Emmanuel Macron is to visit violence-hit New Caledonia - more
  • Pacific NGO alliance condemns France for 'betrayal of the Kanaky people' - more
  • Amid growing social unrest, New Caledonia’s nickel industry is also in turmoil - more
  • Deadly Clashes in a French Pacific Territory Raise Fears of Civil War - more
  • First New Caledonia evacuation flight lands in Auckland - more
  • Why is New Caledonia important? - more

   Nickel-rich Indonesia pitches EV battery plant plan to Elon Musk - Indonesia’s top investment official said Monday that the government has proposed to Tesla CEO Elon Musk the construction of an electric vehicle ... - more

  • Critics see payback in Indonesia’s plan to grant mining permits to religious groups - more

   Outokumpu’s production sites in Europe certified by ResponsibleSteel as the first steel manufacturer in the Nordics - Outokumpu, the global leader in sustainable stainless steel, has received the ResponsibleSteel ... - more

   Merafe - Shareholders of Merafe are hereby advised that the quarterly European Ferrochrome Benchmark (“EUBM”) price will be discontinued with effect from June 2024 and the Company will therefore no longer
publish the EUBM price on the Stock Exchange News Service - source

   Other News

  • From IV treatments to cold plunges here are the biggest anti-aging trends sweeping the nation - more
  • Shein factory employees work 75-hour weeks for low wages: report - more
  • Sanctioned Russian Tankers Mostly Sit Idle Months After Designations - more
  • China hints at retaliation in worsening trade clash with Europe - more
  • China hits Boeing defense, two others with symbolic sanctions - more
  • China Retaliates Against U.S. Tariffs - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Monday, May 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $9.47/lb  ($20,800/tonne). Indicators at 5:45 am CST today show nickel trading around $.43/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Friday and ended the week just over the 81,800 tonne level. Shanghai nickel rose to 157,390 y/t overnight. Nickel is trading near the $22,000 tonne level, after closing just into the $19,000 tonne level on Monday last week. For bullish traders, these are good times, while shorts who haven't been forced to cover, are waiting their turn. For the users of nickel, this is another one of those months that bring migraine headaches. Wall Street Journal has an article titled "Behind New Caledonia’s Riots, a Fight Over Vast Reserves of Nickel" for those who subscribe. Stay safe out there and have a great week! 
  • Average price of LME traded cash nickel so far this month - $8.59/lb

  Reports

  • Reuters metals morning - Speculative frenzy propels copper to records above $11,000/T - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • China Industrial Production - more
  • SFSA Casteel Reporter – May 2024 - online here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

     Friday's market review - Stocks near flat as timing of US rate cuts weighed; copper jumps - World stock indexes were nearly flat while U.S. Treasury yields rose on Friday as investors tried to assess the timing ... - more

  • Nickel, copper surge to multi-month highs on New Caledonia, China - (quote) “We’ve seen some weird rallies in the sense that investors don’t seem to care much about fundamentals,” - more

    Nickel Soars to $20,000: Bullish Predictions Fulfilled as Market Surges - Nickel's Perfect Storm: Surging Prices, Geopolitical Shifts, and the Rise of Domestic Producers - more

    Taiwan’s stainless steel flat-rolled products imports decrease in Apr m-o-m, y-o-y - In April, Taiwan’s stainless steel flat-rolled products imports totaled about 88,000 tons, decreasing by 4.2% compared to March... - more

    'It's a revolution here, using Tiktok' - Pro-independence activist on New Caledonia unrest - A member of the pro-independence Kanak group says the unrest in New Caledonia is a "revolt", as the death toll rises ... - more

  • Amid growing social unrest, New Caledonia’s nickel industry is also in turmoil - more
  • For more on uprising in New Caledonia, we recommend this page here
    China’s crude steel output falls at faster pace in Jan-Apr, providing some support for prices -"In the January-April period this year, China\u2019s outputs of pig iron, crude steel and finished steel totaled 284.99 ... - more

    MEPS to lead stainless steel debate at BSSA conference - MEPS International steel market analyst Michelle Kirton will explore the key trends and challenges defining the stainless sector when she hosts a ... - more

   Other News

  • BHP debates improved bid as time runs out in Anglo takeover saga - more
  • Opposition grows to speedy electric truck transition - more
  • Houthis hit Panamanian-flagged tanker with missile off Yemen, CENTCOM says - more
  • Why would China sell off its U.S. debt — if that’s what it’s doing - more
  • Iran President Ebrahim Raisi killed in helicopter crash - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Friday, May 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $9.10/lb ($20,065/tonne). Indicators at 6:00 am CST today show nickel trading around $.47/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and began today just over the 81,800 tonne level. Shanghai nickel followed the LME higher to 153,460 y/t overnight. The Euro actually lost a little ground yesterday against the U.S. Dollar, but the trading of nickel did not reflect this. It closed over the $20,000/tonne level for the first time since September 2023. And that was yesterday. This morning it is trading over the $21,000 tonne level. Reuters is crediting the strife in New Caledonia as the reason, but that would mean the market is trading as if the nickel market was in balance and any potential loss from Eramet would send it into a deficit situation. We don't see that. There are three large mining operations on New Caledonia and two of the three have been shut down for months. Eramet remains in operation but has reduced production for some time as well. Eramet is vulnerable during any island strife but a loss in its production is not the break even point that traders seem to be hoping for. Stay safe out there and enjoy your weekend!
  • Average price of LME traded cash nickel so far this month - $8.52/lb

  Reports

  • Reuters metals morning - Nickel hits 8-month high as unrest in New Caledonia ... - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more 
  • Industrial Production: Manufacturing: Durable Goods: Raw Steel - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

   Thursday's market review - CME copper near record high as shorts roll positions forwards - Copper prices on the Chicago Mercantile Exchange hovered near record highs on Thursday as buyers piled in ... - more

   Tight conc supply ends sideways movement in moly oxide prices - Molybdenum oxide powder spot prices are expected to soften in the short term while downstream spot demand in Europe remains slow, according... - more

   France sends more police to New Caledonia to try to restore calm - The French government sent more police to the Pacific island of New Caledonia on Thursday and said it would crack down on rioters, hoping ... - more

   Chinese investment of $9 billion to build nickel smelting chain plants in Indonesia  - Vale Indonesia recently announced that it will cooperate with China's enterprises to build three nickel smelting chain plants or ... - more

   Today’s well-supplied market for critical minerals ‘may not be a good guide for future’ - A new International Energy Agency (IEA) report describes the sharp decline in critical mineral prices over the past year as a ... - more

   Other News

  • Opinion: We’re falling further behind China in critical minerals - more
  • Abramovich trims Nornickel stake in $551 million share sale - more
  • US House committee advances bill to restrict Chinese biotech firms, exacerbating tensions - more
  • High school seeks truck driver exemption for students under 18 - more
  • Asian solar imports are subject of new US Commerce probe - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Thursday, May 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.85/lb ($19,500/tonne). Indicators at 5:50 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and started today just over the 81,600 tonne level. Shanghai nickel rose to 146,620 y/t overnight. Nickel rose yesterday, helped by a surging Euro. This trend continues this morning, but on a much smaller scale. Four have now died in New Caledonia riots, and France has declared a State of Emergency. Stay safe out there and have a great Thursday!
  • Average price of LME traded cash nickel so far this month - $8.50/lb

  Reports

  • Reuters metals morning - Base metals gain as dollar weakens on easing US inflation - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Current US Inflation Rate - more
  • Manufacturers Sales - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Wednesday's market review - London copper hits fresh two-year high, CME contract at record high -  London copper touched a more than two-year high on Wednesday, aided by a weaker U.S. dollar and ... - more

   Executives doubt EU stainless market recovery: BIR - A recovery in the European stainless steel market is yet to come. Some analysts forecast a two-digit on-year increase in stainless steel apparent consumption ... - more

   Philippines aims to overtake Indonesia as top nickel producer with government push and investment boom - The Philippines, the world’s leading nickel exporter, has outlined plans to challenge Indonesia as the... - more

   BPS Logs Nearly 50 Percent Hike in Nickel Export Value - Statistics Indonesia (BPS) reported a significant surge in the export value of nickel commodities and associated goods at US$210.6 million or 45.85 - more

   The Case for Investing in Nickel Miners - With powerful magnetic and conductive properties, nickel has rapidly graduated from an industrial metal in stainless steel to a critical mineral essential to electric vehicle .... - more

   Why are there riots in New Caledonia against France's voting reform? - Deadly violence has erupted in New Caledonia, a French overseas territory in the South Pacific, after lawmakers in Paris approved .... - more

  • Four dead in New Caledonia riots, France declares state of emergency - more

   Other News

  • EU ambassadors agree to place four Russian media outlets on sanctions list - more
  • US Blames China's CMOC for Predatory Tactics Behind Cobalt Glut - more
  • Trump, allies are laying the groundwork to contest potential election loss - more
  • Google says Chrome OS on Android was, sadly, just a fun proof of concept - more
  • Trafigura, IXM caught in COMEX copper short squeeze as prices hit record - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Wednesday, May 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.65/lb  ($19,070/tonne). Indicators at 5:55 am CST today show nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today's session just shy of the 81,000 tonne level. Shanghai nickel ticked lower to 144,380 y/t overnight. Nickel bounced this morning on a weaker U.S. Dollar and only recently calmed down. It's spring and time for riots in New Caledonia again, although they aren't usually this deadly. New Caledonia is voting on independence again this year and a recent change in the constitution to allow French citizens who have lived on the island for ten years to vote, is not being taken kindly by some in the pro-Independence movement. For an island paradise, we sure have covered a lot of riots here over the years. As for nickel shipments, two of the large mines there were on care and maintenance anyway, so Eramet was the only one really producing. Considering they are are back by the French government, they know they have a huge target on their back, so they are being especially cautious during the riots. The term ferrochrome is about to become popular - outside of the mining world. See article under Other News. Copper wire thefts are on the rise again, and Tesla is being sued by the government for pollution in California. After firing every member of one of the most profitable divisions at Tesla last week, and car sales at Tesla falling off a cliff, it is safe to say that Elon is having a difficult month. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $8.48/lb

  Reports

  • Reuters metals morning - London copper climbs on weaker dollar ahead of US inflation report - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Nickel Magazine Vol.39, No.1, 2024 - online here
  • AMT LME COTR Analysis 14 May - more
  • Producer Price Index by Industry: Truck Transportation - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Anglo American eyes break-up as it fends off BHP offer - Anglo American, opens new tab laid out plans on Tuesday to refocus on energy transition metal copper while spinning out or selling its less ... - more

  • BHP boss appeals to Anglo investors after bid rejections - more
    France sends more police, seeks talks, to quell New Caledonia riots - - France sent extra police squadrons to quell riots on the Pacific island of New Caledonia on Tuesday but also opened the door to a ... - more
  • Eramet says its New Caledonia nickel plant running at minimum capacity - more
  • Three dead in New Caledonia as riots rage after Paris approves voting change - more
  • 'Streets on fire' in New Caledonia over voting reform - more
  • Curfew imposed in New Caledonia amid violent unrest - more
  • New Caledonia violence 'unfortunate', but Pacific Islands Forum secretary-general is 'not surprised' - more
    Indonesia adds nickel parks worth nearly $40 billion to strategic plan -  Indonesia's outgoing government has added 16 programmes to its list of strategic projects that will receive state support, including .... - more

    Outokumpu Short-term risks and uncertainties - Outokumpu is exposed to various risks and uncertainties that may have an adverse impact on its business and operations. However, the company has taken... - more

    Increased costs forecasted to support stainless steel market in Taiwan & China - Stainless steel markets in China and Taiwan recently faced low market demand. In China, despite significant fluctuations .... - more

    Extract BIR Annual Report 2023 - For stainless steel output, the shift in the global balance of power has never been more pronounced than it was in 2023. - more

    Courtesy AISI - In the week ending on May 11, 2024, domestic raw steel production was 1,715,000 net tons while the capability utilization rate was 77.2 percent. Production was 1,754,000 net tons in the week ending May 11, 2023 while the capability utilization then was 77.9 percent. - more

   Other News

  • Forget Chromebooks! Your Android Phone Could Soon Run ChromeOS - more (ferrochrome is about to get a whole new meaning)
  • Australia clamps down on copper thefts as dizzying rally powers metal to ‘new oil’ status - more
  • Diesel takes another hit and may be driving down broader oil market - more
  • China vows ‘all necessary measures’ against additional US tariffs - more
  • USPS plans 25% average price hike for Parcel Select shippers - more
  • Tesla is sued over air pollution from factory operations in Fremont, California - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Tuesday, May 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.73/lb  ($19,245/tonne). Indicators at 5:55 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and started today just over the 80,800 tonne level. Shanghai nickel rose to 144,460 y/t overnight. Nickel rose off the $19,000 tonne level yesterday, and is quiet this morning. Anglo rejected another takeover offer from BHP yesterday, while France wants to build a nickel refinery in their country, and Stellantis is looking for a partner to build one in Indonesia. President Biden increased tariff's on Chinese imported goods including "steel and aluminum, semiconductors, batteries, critical minerals, solar cells and cranes". Russia hasn't threatened the world with nuclear desolation yet this week but hey, it's only Tuesday! Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.47/lb

  Reports

  • Reuters metals morning - Copper hits more than 2-year high despite ...- more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • U.S. Consumer Sentiment Drops to 6-Month Low - more
  • Recycling Today Magazine - online here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

   Anglo American rejects BHP's revised $42.7 billion buyout proposal - Anglo American rejected a raised takeover offer of 34 billion pounds ($42.67 billion) from BHP Group on Monday, saying the world's largest ... - more

   France backs nickel refinery project to bolster battery supply chain - The French government on Monday promoted a private sector plan to develop a nickel and cobalt refinery near Bordeaux to reinforce .... - more

   Trading volumes surge as investors return to base metals - The boom times are back for base metals traders. Over 17 million contracts traded on the London Metal Exchange (LME) in April, .... - more

   China's commodity imports show prices beat economic narrative: Russell - China's imports of major commodities for April show the impact of price trends, with strength where prices were trending down and .... - more

   Looking for pipe or pipe fittings in Hastelloy C276? - Call PA Inc at (713) 570-4900 or visit them at www.painc.com

   EC opposes the circumvention of safeguard measures on stainless steel plates from Indonesia - Anti-dumping and anti-subsidy duties on SSCR from Indonesia extended to imports from three more countries - more

   Stellantis eyes nickel supply in Indonesia - Stellantis has its eyes set on Indonesia’s nickel supply.  The legacy automaker is reportedly discussing a potential investment into a nickel smelter in Indonesia with ... - more

   Other News

  • Canada home to 5 of the world's 10 most attractive mining jurisdictions - more
  • Security considerations justify state’s steel industry involvement - more
  • Borderlands Mexico: Tractor-trailer thefts in Mexico totaled 153 in April - more
  • UPS and FedEx battle over small business customers while Amazon looms - more
  • Small, well-built Chinese EV called the Seagull poses a big threat to the US auto industry - more
  • Biden sharply hikes US tariffs on an array of Chinese imports - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Monday, May 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.68/lb ($19,145/tonne). Indicators at 5:45 am CST today show nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and ended last week reading just over the 80,450 tonne level. Shanghai market slipped to 143,510 y/t overnight. The Euro is up slightly while nickel is down slightly this morning. Stay safe out there and have a great day - and week!
  • Average price of LME traded cash nickel so far this month - $8.45/lb

  Reports

  • Reuters metals morning - Most base metals slip as data from top consumer China disappoints - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Fastener Distributor Index - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Friday's market review - Copper rises as traders chase arbitrage opportunities - Copper prices rose on Friday as traders raced to capture arbitrage opportunities with growing gaps between prices in ... - more

    Tetra Pak to adapt Outokumpu’s low-emission stainless steel - Outokumpu, a leading provider of sustainable stainless steel, has forged a partnership with Tetra Pak, a renowned food processing and packaging ... - more

    EU scrap supply, economic independence critical - The EU’s failure to classify scrap as a Critical Raw Material (CRM) is baffling, given the EU’s scrap surplus will likely soon turn to a deficit amid steelmakers’ ... - more

  Ford Cuts Battery Orders as EV Losses Top $100,000 Per Car - Ford Motor Co. has begun cutting orders from battery suppliers to stem growing electric-vehicle losses, according to people familiar with ... - more

   Canadian miners look for capital gains tax hike exemption - Higher inclusion rate makes it harder for junior miners to raise money to find new mineral deposits - more

   Other News

  • 'Mayhem' at EV repair shop as more early adopters experience battery death - news report  (when it cost more to replace the battery than the car is worth) 
  • Wildfire evacuation notice issued for major Canada oil town Fort McMurray - more
  • Next U.S.-China chip battle will require more than export controls - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Friday, May 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.63/lb ($19,025/tonne). Indicators at 5:35 am CST today show nickel trading  unchanged. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started today reading just shy of the 80,300 tonne level. Shanghai nickel rose to 144,760 y/t overnight. LME nickel got a bump yesterday, thanks in part to a jump in the Euro. The Euro is quiet this morning, as is nickel. It's another week in the history books, and volatile nickel went no where the hard way. $19,000 remains the level the market appears to be comfortable with, if a market can be described as being comfortable. There is talk again about creating a nickel pricing index, to remove some of the volatility of the LME. This is something that comes up about as often as the market makes a serious pricing change but no one has yet come up with a plan that replaces the free market system; that remains fair to all parties concerned. We aren't holding our breath. It's another week in the history books. Mistakes were made, failures were to be had, and some of us were lucky enough to have a success or two. Learn from the ups and downs, what worked and what didn't, but never let the failures define you. Stay safe out there and have a relaxing weekend! 
  • Average price of LME traded cash nickel so far this month - $8.44/lb

  Reports

  • Reuters metals morning - Base metals jump as soft U.S. jobs data fuels rate cut hopes - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • AMT LME COTR Analysis 9 May - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Thursday's market review - Copper retreats on rate cut uncertainty, physical pushback - Copper prices retreated on Thursday on a potential delay in interest rate cuts ahead of key inflation data next week ... - more

    Jakarta forum calls for exploring Ni price references - The global nickel market should explore different price references for nickel products to reduce price uncertainty, panellists said at the Third Nickel Producers,.... - more

    Taiwan’s stainless steel imports & exports decrease in Apr m-o-m - In April, Taiwan’s stainless steel imports totaled about 92,000 tons, plunging by 539% month on month. Among them, the hot-rolled stainless steel ... - more

    British consortium to invest $9 bln in Indonesia mining, EV batteries, minister says - A British consortium that includes mining giant Glencore will invest about $9 billion in Indonesia's mining and electric vehicle ... - more

    Philippines says U.S., China eyeing mining opportunities, especially in nickel -  Numerous countries including the United States and China have expressed interest in collaborating with the Philippines for mining ... - more

    Analysis: EU ramps-up stainless steel import duties - The European Commission’s application of countervailing and antidumping duties to stainless steel cold rolled imports from Taiwan and Vietnam will result ... - more

   Other News

  • Tesla Removes Most Job Posts In North America After ‘Hardcore’ Layoffs - more
  • Middle East tensions ease for energy as Russian sanctions hit metals - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Thursday, May 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.59/lb ($18,930/tonne). Indicators at 5:45 am CST today show nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today's session just over the 80,000 tonne level. Shanghai nickel rose to 141,770 y/t overnight. Nickel closed below the $19,000 tonne level last night, and is trading below this morning. This means little long term, except the fact the $19,000 tonne level appears to be psychologically important to traders. We were trading under the $18,000 tonne level just a few weeks ago, but the Russian sanction announcement bumped the price higher than where we see trading now. Will the bump hold or will the surplus conditions continue to drag prices lower. Stay tuned. Stay safe and have a great Thursday! 
  • Average price of LME traded cash nickel so far this month - $8.44/lb

  Reports

  • Reuters metals morning - Copper edges up in London on China's trade data, property support - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Wednesday's market review - Profit-taking sparked by firm dollar weighs on copper - Copper prices fell on Wednesday as a firm dollar triggered profit-taking, but expectations of robust demand from the ... - more

    EU sets AD and CV duties on stainless CR products from three countries due to circumvention - The European Commission has announced that it has extended the antidumping and countervailing duties in .... - more
  • European Commission extends anti-dumping, countervailing measures on Asian SSCR imports - more

   Stainless steel market in China expected to fluctuate on high side - After the Labor holiday, China's stainless steel futures market witnessed an immediate uptick on May 6th. The optimistic market sentiment .... - more

   Indonesia says nickel reserves enough for expansion, despite moratorium call -  Indonesia's nickel reserves are sufficient for expanded processing operations, an investment ministry official said on Wednesday... - more

   Austrian competition authority probes Acerinox’s proposed Haynes acquisition - The Austrian Federal Competition Authority (Bundeswettbewerbsbehörde – BWB) has referred the proposed acquisition of US ... - more

   Other News

  • Ocean Freight Rates Skyrocket as Red Sea Disruptions Continue - more
  • White House considers China tariff increases on materials - more
  • Taiwan exports to US jump by record as China shipments fall - more
  • How Are They Now? A Checkup on Homeowners Who Experienced Foreclosure - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Wednesday, May 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.75/lb  ($19,280/tonne). Indicators at 5:45 am CST today show nickel trading around $.23/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Tuesday and started today's session just under the 79,900 tonne level for a second day. Shanghai nickel fell to 141,190 y/t overnight, and this has apparently signaled LME traders. LME nickel is down sharply this morning, once again witnessing all of the months gains evaporate in a single day blow. The $19,000 tonne level has held a psychological effect on traders for some time, keeping the bulls and bears in check. It is possible nickel could be benefiting by copper's near record high bullish run, which is seeing a bearish run by profit takers today. Not a lot of news so far this week. Stay safe out there and enjoy your hump day! 
  • Average price of LME traded cash nickel so far this month - $8.45/lb

  Reports

  • Reuters metals morning - Most base metals decline with firmer dollar, supply outlook in focus - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper heads towards two-year highs with spotlight on supply - Copper prices pushed towards two-year highs on Tuesday as focus returned to tight supplies and hopes of stronger... - more

    Outokumpu sees market recovery continuing in Europe - Finnish steelmaker Outokumpu said May 7 the market recovery in Europe was continuing, and it expected second-quarter stainless steel deliveries .... - more

    EU confirms extension Indonesian stainless steel duties  - The European Commission has confirmed the extension of definitive countervailing duties on Indonesian stainless steel cold rolled products to material ... - more

    China's Huayou ships first MHP shipment from Indonesia JV - Zhejiang Huayou Cobalt's Indonesian joint venture shipped its first batch of mixed hydroxide precipitate (MHP), a product used to be processed into .... - more

    European Commission approves Nippon-US Steel acquisition - The European Commission has approved the acquisition of US Steel by Nippon Steel Corporation, it says in a note seen by Kallanish. - more

   Other News

  • US, EU making inroads into China's EV battery manufacturing dominance - more
  • As Norfolk Southern battle nears climax, STB head Oberman backs management - more
  • US set to resume crude purchases for SPR - more
  • Fastenal Sales Edge Up in April - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Tuesday, May 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.71/lb ($19,206/tonne). Indicators at 5:50 am CST today show nickel trading around $.04/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday and started this shortened trading week, just below the 79,900 tonne level. Shanghai nickel rose to 145,040 y/t yesterday and back to 144,170 y/t overnight. London nickel traders ended the week before their three day weekend in a bullish mood, taking nickel well north of the $19,000 tonne level. Everyone has their poker face on this morning, waiting for the other party to make a move, with a lower Euro apparently guiding this mornings negative movement.  World stainless and nickel markets are in what could best be described as a ho-hum atmosphere, with some doing better than others, but few breaking records. Stay safe out there and have a great Tuesday!
  • Average price of LME traded cash nickel so far this month - $8.43/lb

  Reports

  • Reuters metals morning - Copper heads towards two-year highs with spotlight on supply - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Consumer Loans: Credit Cards and Other Revolving Plans - chart here
  • Moody's Weekly Market Outlook - pdf here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Friday's market review - Copper rebounds on weak dollar - Copper prices bounced on Friday, supported by a softer dollar after weak US jobs data and revisions to forecasts showing diminished supply ... - more

     World steel production and capacity overview - MEPS - Europe's updated anti-dumping measures against Chinese steel, the electrification of UK steel production and data on global stainless steel production are  ... - more

    China’s stainless steel crude steel output increases in Q1 y-o-y - According to statistics from China’s Iron and Steel Association, in the first quarter of this year, China’s stainless crude steel production increased .... - more

  • Stainless steel imports decreased by 30.76% in March, overseas demand increased sharply, and exports exceeded 450,000 tons in March - more

    Industry official warns ban on ore exports will hurt miners - An Indonesia-style ban on ore exports will not work for the Philippines, which has fewer reserves of nickel that are also of lower quality, a mining executive said. - more

    U.S. exports/imports of Nickel - more // U.S. imports/exports of Stainless steel - more // use search bar to check your item of interest

    Italian distribution sector reports negative outlook - The Italian distribution sector forecasts declining volumes in the second quarter compared to the same period last year. - more

    Exclusive: Glencore studying an approach for Anglo American, sources say - Commodities group Glencore, opens new tab is studying an approach for Anglo American, opens new tab, two sources said, .... - more

    Courtesy AISI - In the week ending on May 4, 2024, domestic raw steel production was 1,709,000 net tons while the capability utilization rate was 77.0 percent. Production was 1,760,000 net tons in the week ending May 4, 2023 while the capability utilization then was 78.2 percent. - more

   Other News

  • USPS wants to make controversial changes to shipping partner deals this month - more
  • Fastenal boosts supply chain resilience with supplier diversity - more
  • Xi starts state visit to France, commends bilateral relations - more
  • Job growth in the U.S. slowed in April - pdf here
  • U.S. Special Ops Gunship Decimates Fishing Boats in South China Sea Test - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Friday, May 3

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.50/lb ($18,740/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb  higher. Stockpiles of nickel stored in LME approved warehouses jumped on Thursday and entered today reading just over the 79,900 tonne level. Shanghai markets return on Monday, while London markets will be closed that day for Early Bank Holiday. Everyone will be up and running next Tuesday, so unless something big happens over the weekend our next update will be on Tuesday. LME nickel is trading higher today, possibly thanks to the higher Euro, but at least so far this morning, still below the $19,000 tonne level. After a busy news week, things are fairly quiet this morning. Stay safe out there, enjoy your weekend, and we hope to see you again next week. 
  • Average price of LME traded cash nickel so far this month - $8.40/lb

  Reports

  • Reuters metals morning - Copper bounces on weak dollar but heads for weekly decline - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - closed
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Thursday's market review - Copper retreats on concern over weak demand in China -  Copper prices slumped on Wednesday on worries of more central bank rate hikes that could curb economic activity.... - more

   Zimbabwe’s only operating nickel mine placed under administration - Zimbabwe’s only operating nickel mine was on Thursday placed under administration, according to a government notice, seven months ... - more

   China's stainless steel market forecasted to remain high in May - In April, China saw a surprising increase in the prices of its 300 series stainless steel, contrary to expectations of a decline due to sluggish ... - more

   Japan's Sumitomo Corp net profit down 32% on Madagascar one-off loss - Japanese trading house Sumitomo Corp reported net profit for the fiscal year ended in March fell 31.7% from a year earlier to .... - more

   Other News

  • DARPA Unveils Manta Ray, Uncrewed Extended Duration Undersea Vessel - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Thursday, May 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.54/lb ($18,820/tonne). Indicators at 5:40 am CST today show nickel trading around $.10/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today's session just under the 78,800 tonne level. Shanghai markets were closed and will remain so tomorrow as well. Nickel is lower this morning, even though the Euro is trading higher. A second close below the $19,000 tonne level today would send a negative technical signal, if you believe in that sort of thing. Here are your average commodity costs for April as compared to March...... Nickel - $8.24/lb compared to $7.90/lb in March; Chromium - $4.95/lb compared to $5.04/lb; Molybdenum - $20.20/lb compared to $20.70/lb. Our PMI page is updated and the four countries we follow all fell (page here). And finally, we note one American company trying to use Congress and the "China scare" to create a monopoly for themselves. Remember the $400 hammer stories of bygone days? Stay safe out there and have a great Thursday!
  • Average price of LME traded cash nickel so far this month - $8.45/lb

  Reports

  • Reuters metals morning - Base metals gain on softer dollar - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - closed
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

   European Commodities: After Asian Supply Shock, What's Next for Nickel? - From February 2022, and during the following 3 months, nickel prices had a record jump up to 100,000/ton, triggered by .... - more

   Universal Stainless Reports Near-Record Sales and Profitability in First Quarter of 2024 - Universal Stainless & Alloy Products, Inc. today reported net sales of $77.6 million for the first quarter of 2024, ...- more

   MEPS’s global steel production and capacity round-up - Europe’s renewed antidumping measures on Chinese steel, the electrification of UK steelmaking and global stainless steel production data all feature .... - more

   Vale closes deal to sell 10% of base metals arm to Manara Minerals - Brazilian miner Vale has concluded the sale of a 10% stake in Vale Base Metals (VBM) to Manara Minerals for $2.5bn (12.99bn reais). - more

   Clash of the mining titans will get more bruising: podcast - Australian giant BHP’s $39 bln swing for Anglo American is a contentious, complex land grab for the metals key to a renewable future. In this Viewsroom.... - more

   History of H.R. 8163 - A Bill To Amend Title 10, United States Code, To Permanently Add Stainless Steel Flatware To The List Of Covered Items Required To Be Procured From American Sources, And For Other Purposes; To The Committee On Armed Services. - more  (comment - for those who might buy into this as a national security issue, there is only one manufacturer of stainless steel flatware in the United States and it just happens to be located in the state of New York, which is the state the two Congressional sponsors of this bill happen to represent.)        

   Other News

  • China’s New Aircraft Carrier Heads to Sea for First Trials - more
  • Report: Tyson Foods Dumped 371M Pounds of Waste into U.S. Waters Over 5 Years - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
Wednesday, May 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.72/lb ($19,220/tonne). Indicators at 5:40 am CST today show nickel trading around $.14/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on the final day of April and ended the month just over the 78,500 tonne level. Shanghai markets were closed overnight and will be so for the rest of the week. A stronger US Dollar is adding negative pressure on London traded base metals and nickel has fallen below the $19,000/tonne level in morning trades. Lot of linked articles for the first day of May, so we leave you with them. Stay safe out there, have a great month, and for starters, enjoy your hump day!
  • Average price of LME traded cash nickel so far this month - $8.24/lb (average April)

  Reports

  • Reuters metals morning - Base metals dip in thin trade on a stronger dollar - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - closed
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • AMT LME COTR Analysis 30 April - more
  • US Consumer Confidence - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper retreats on slower Chinese manufacturing growth and firm dollar - Copper prices fell on Tuesday after four sessions of gains, retreating on slower manufacturing activity growth ... - more

   INSG forecasts shrinking nickel surplus in 2024 - The International Nickel Study Group (INSG) has projected a nickel surplus of 109,000t in 2024, Kallanish notes. - more

   US stainless steel prices continue to rise - Outokumpu’s United States operation in Calvert attempted to raise its base price by notifying customers of a two percentage point cut to its discount level, this month. - more

   Stainless steel supply chain disruption intensifies in Europe - Stainless steel supply disruptions in Europe will continue until the end of the second quarter and then subside in the summer months - more

   Stainless steel market might remain uncertain until middle of May - According to the report, Taiwanese steel mill YUSCO recently adjusted product prices for domestic and foreign sales in May. - more

   China’s steel sector PMI declines to 47.9 percent in April - In April this year, the purchasing managers index (PMI) for the Chinese steel sector was at 47.9 percent, 3.7 percentage points higher than that .... - more

   US, Philippines Eye Agreement to Cut China Nickel Dominance - The U.S. and the Philippines are in discussions over ways to prevent China from dominating nickel processing in the Southeast Asian nation... - more

   Eurofer lowers demand forecast as recovery loses steam - The European steel demand outlook for 2024 continues to lose momentum amid worsening geopolitical tensions, growing economic uncertainty... - more
  • IREPAS: China’s exports rising, EU demand will not recover before H2 - more

   Glencore’s Rustenburg ferrochrome smelter remains idled - Pending an improved price and cost environment, Glencore said in its first-quarter 2024 production report on Tuesday that its Rustenburg... - more

   Copper smelters in leading buyer China wary of BHP-Anglo American tie-up -  Chinese smelters, the world's biggest buyers of mined copper, are concerned they will lose power to negotiate prices if BHP Group, ... - more

   Russia wants to join Luxembourg in space mining - Russia, a leading producer of natural resources, plans to join Luxembourg in mining for minerals in outer space, Russian Deputy Prime Minister Tatyana ... - more

   Will New Leader End Progress in Saving Indonesia’s Forests? - In the last decade, Indonesia has made significant headway in halting the loss of its forests. But the election of military man Prabowo Subianto .... - more

  • As The World's Largest Nickel Producer, How Much Is Indonesia's Nickel Reserve? - more

   Other News

  • Gen Z job seeker refused to do 90-minute task because it ‘looked like a lot of work’—now the CEO who complained about it is being slammed - more
  • Graphite miners lobby US govt to impose levy on China-sourced EV material - more
  • Kid-Free Cruises Create $5 Billion Fortune for Viking's Founder - more
  • Affluent Americans Are Driving the U.S. Economy - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here

April Archives


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



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