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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Market

Thursday, November 29

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.90/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just over the 213,700 tonne level. We would call it bear fatigue, as the market rose ever so slightly yesterday, and is up today. US Fed Chairman Jerome Powell appeared to be bowing to Twitter pressure from President Trump and announced interest rates were near where they needed to be, a change from comments he made in October. The comments were made too late to help LME trading yesterday, but there is some catch up trading today. The big news story - the upcoming G-20 and the meeting between President's Trump and Xi  and a possible trade agreement, remains unchanged. This is our last update for the week, and hopefully, by our next update, we will know a lot more about that. This is also our final update for November, so we look forward to seeing you next month. In the mean time, have a safe and relaxing weekend!
  • Average price of cash nickel so far this month - $5.12/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper prices rally in wake of Fed comments, force majeure - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • SO - US new home sales drop 8.9 percent in October
  • China Steel prices hold steady in October: CISA - more
  • Trading Activity Deteriorates in the Emerging Steel Markets - more
  • Citigroup upgrades its iron ore price forecasts even as the market crashes - more
  • Treasury Yield Hits 3%, Stocks Mixed After Powell: Markets Wrap - more

     Yesterday's market review - Zinc regains ground after plunging to 10-week low - Zinc prices rose on Wednesday as falling stockpiles and rising premiums for nearby metal highlighted a short-term supply squeeze, halting a slide to 10-week lows. - more

      Ni SUS Scrap Price in Late November Starts with JPY115,000 - JPY120,000 = Many of customers stop buying = As of November 20, the stainless steel mills in the Kanto area purchase nickel-containing stainless steel scraps (SABOT) at somewhere between JPY115,000 and JPY120,000 per ton (delivered at plant). - more

     Mincor chief confident of robust nickel growth - Incoming Mincor Resources managing director David Southam is looking beyond recent turbulence in the nickel price after the respected Western Areas director was announced as its new head, saying he is confident in the long-term outlook for the base metal. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 28

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.89/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME warehouses went unchanged on Tuesday and remain just under the 213,800 tonne level. Nickel is now trading at its lowest point since September 2017 and won't have to drop much lower to move to its lowest since July 2017. Prices are trading higher today, but the chart shows little enthusiasm behind the movement. Support is at $4.86/lb but these support points have been falling faster than wheat in a wind storm. China steel index futures turned higher overnight, but we will have to see if this is just a momentary break from a bearish trend, or something more. Traders continue to look for clues on what might or might not happen at the G-20 meeting this weekend between President 's Xi and Trump. Emboldened by last night's Senate run off in Mississippi, we don't look for President Trump to give up much on his demands.
  • Average price of cash nickel so far this month - $5.13/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper rises after 3-day slide, trade uncertainty curbs gains - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • SO - US steel imports up 44.3 percent in October
  • AISI - Steel Imports Down 11% Year-to-Date Through October
  • Germans increasingly wary of trans-Atlantic alliance: survey - more
  • Stocks Push Higher; Dollar Steadies Before Powell: Markets Wrap - more

     Tuesday's market review - Steel-linked metals slide on China demand woes, tin sinks - Steel-linked metals zinc and nickel hit multi-month lows on Tuesday as demand worries escalated on Chinese steel price weakness and mounting U.S.-Sino trade tensions, while tin prices sank to two-year lows. - more

       Russia's Potanin to appeal UK court decision in battle of billionaires - Russian businessman Vladimir Potanin plans to appeal a London court decision to block him from buying shares in mining company Norilsk Nickel from fellow investor Roman Abramovich, representatives at Potanin’s investment firm said on Tuesday. - more

     Probe Into Ramu Nico - Madang Governor Peter Yama has commissioned a team of environmental experts to immediately conduct an environment damage assessment on the Ramu nickel mine. - more

      Press Release - For the month of December 2018, North American Stainless will reduce the fuel surcharge to 27% for stainless flat and long products. The surcharge rate is considered a maximum level for December, and will be reviewed monthly. - source

      Chinese ferromoly prices fall as inspection-driven supply fear recedes - Chinese spot ferromolybdenum prices have peaked off from end October levels as fear of environmental inspections resulting in plant closures receded, market sources said Wednesday. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, November 27

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.93/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today's session just under the 213,800 tonne level. Nickel continues to fall, and the Wall Street report that Trump is now down playing any trade agreement with China and reinforcing his threats to add new tariffs. This has markets around the world trading in the red this morning. Nickel has fallen so fast recently that support levels are busted before they can be published. Traders are apparently waiting in the wings, having learned it is not wise to try to catch a falling knife. The report that came out that there was a "massive" new supply of nickel coming online next year from Indonesia had us puzzled, as we had not heard this before. Here is where the 'news' came from. Peter Peng, an analyst at CRU Group, reported Friday “I heard some Chinese investors are shooting (down) nickel price. They think nickel production in Indonesia will bring the market into surplus next year, and demand for stainless will be bad." And in the same report, Reuters states "Expectations of a supply avalanche hitting the nickel market next year due to new capacity in Indonesia have sent prices down more than 15 percent since September." Ok, so where is this new and 'massive' new production coming from? We really aren't sure and apparently we aren't alone. Here are a few forecasts from July of this year - first by BMI Research here - second by Macquarie Capital  here. These are both very respected metals analysts and neither seem to be concerned about any 'massive' new production coming online. Yes Indonesia should produce more nickel next year than this, and they have for many years now. The use by China of the so called 'pig nickel' made the Philippines and Indonesia both major players in the nickel industry. Demand is another story. Should that fall significantly, and production targeted for the EV industry not pick up the slack, then it is possible we could see production exceed demand. For now, demand exceeds supply. And interestingly, someone has been quietly buying nickel the last few days, with cancelled warrants jumping from 20.91% last Monday, to 23.27% today. Stay tuned. We thought this week would be a dull one with nickel prices drifting. Instead, the rush for the exit continues.
  • Average price of cash nickel so far this month - $5.15/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London copper falls for third day after Trump tariff threat - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Chinese steel mill profits have collapsed, and iron ore prices could be next - more
  • Kibo Mining completes sale of Haneti Nickel Project in Tanzania - more
  • ron ore's plunge is about finally catching up to steel's slump: Russell - more
  • Falling Chinese Steel Prices Raise Global Fears - more
  • Stocks Struggle as U.S.-China Trade Talks Weigh: Markets Wrap - more

     Yesterday's market review - Zinc falls as weaker Chinese demand outweighs supply fears - Zinc prices fell for a second session on Monday as expectations of weaker demand from Chinese steel mills overpowered signs that the market is short of metal. - more

      Trump says he expects to raise China tariffs -Wall Street Journal - U.S. President Donald Trump said on Monday he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from the current 10 percent and repeated his threat to slap tariffs on all remaining imports from China. - more

      Aussie battery metals group plugs-in to Centaurus’ Brazilian nickel-cobalt discovery - Centaurus Metals has struck what it describes as a “game-changing” joint venture deal with Australian battery metals process group Simulus Group to underpin the development of its recently discovered Itapitanga nickel-cobalt project in Brazil. - more

      More arrests in New Caledonia mining town - Several people have been taken in for questioning in the New Caledonia mining town of Kouaoua, which has been the scene of arson attacks this year. - more

  • Police to be stationed in New Caledonia mining town - more

       Exclusive: Traders in talks to form first LME ring member in decade - A group of traders are in talks with Sigma Broking Ltd to create the first new open-outcry member of the London Metal Exchange (LME) in more than a decade, three industry sources said. - more

       Courtesy AISI - In the week ending on November 24, 2018, domestic raw steel production was 1,906,000 net tons while the capability utilization rate was 81.3 percent. Production was 1,708,000 net tons in the week ending November 24, 2017 while the capability utilization then was 73.3 percent. The current week production represents a 11.6 percent increase from the same period in the previous year. Production for the week ending November 24, 2018 is down 0.9 percent from the previous week ending November 17, 2018 when production was 1,924,000 net tons and the rate of capability utilization was 82.1 percent. - more

  Morning Nickel Price Statistics & Figures

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

Monday, November 26

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.95/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses have fallen steadily since last week and start this week just under the 214,000 tonne level. LME nickel prices also steadily fell the last three days of last week, closing below the $11,000/tonne and $5/lb level on Thursday and Friday. Next line of support is $4.86/lb, but in our opinion, the market has fallen thru numerous support lines too fast and traders need to take a breath. The market appears to be trading on what might/will happen at the G-20 meeting later this week, and if a trade agreement between China and the US will happen. Commodities are not the only markets trading on this speculation, but much of the volatility is self imposed. If no agreement is reached, there is no guarantee on what will happen down the road. Lot of sabre rattling going on but in reality, at this point, that is all it is. Some reports that there are fears building that new production of nickel coming online next year from Indonesia could push the market into a surplus situation. This was not something the market worried about a few months back, but with the rate of LME stockpile withdrawals down sharply from a few months ago, it is now a concern to some. BASF took a little of the wind out of the battery sail Friday, with its news that it is working on lowering nickel content in its EV batteries. While its worth watching, they aren't the first producer to announce they are trying this. Hard to tell where the market will head this week. Obviously the near term trend is down, but we feel the market has already traded in any potential negative news coming from the G-20, and the fall below the $5/lb level is unwarranted. Have a good week!
  • Average price of cash nickel so far this month -
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Nickel, zinc drop on weaker China demand; focus on Trump-Xi meeting - more
  • Reuters Daily Inside Metals - pdf here
  • October 2018 crude steel production - more
  • Steel Statistical Yearbook 2018 - free download here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • EU Steel Demand Slows in November - Prices Under Negative Pressure - more
  • Early days for stainless steel in cladding, construction industry - more
  • Global Stocks Rebound as Italy, Greek Bonds Rally: Markets Wrap - more

     Friday's market review - Nickel tumbles to 13-month low on demand fears - Nickel prices on Friday touched their lowest since October last year, pulled down by worries about a supply surplus in 2019 and weaker demand from China, the largest consumer of the metal. - more

     Goldman Predicts Commodities Will Soar in 2019 - Commodity bull Goldman Sachs Group Inc. is undaunted by the sell-off in raw materials and is forecasting returns of about 17 percent in the coming months, describing the current situation as unsustainable and touting this week’s G-20 meeting in Buenos Aires as a potential turning point. - more

      BASF plans to lower nickel ratio in batteries - BASF is attempting to lower the nickel ratio in battery chemistry and also to work towards zero cobalt content. The goal is to reduce costs while supplying the growing market for cathode materials for electric vehicle batteries. - more

      WBMS - January to September 2018 Metals Balances - The Nickel market was in deficit during January to September 2018 with apparent demand exceeding production by 33 kt. In the whole of 2017 the calculated deficit was 41.3 kt. Reported stocks held in the LME at the end of September 2018 were 138 kt lower than at the end of the previous year. - more

     Market Trend of Import of Ferroalloy as of 15 November 2018 = Price of manganese metal continues dropping, and price of FeV drops resulted from adjustment of high price = The market trend of import of ferroalloy as of 15 November 2018 is as follows. - more

      The investment case for nickel: In charge with electric vehicles - The world is changing at a rapid pace. Over the next decade, we expect five key megatrends to shape the framework in which we live. The marriage of two of these key megatrends – (1) technological innovation and (2) climate change builds the case for electric vehicle (EV) adoption. - more

      Arrests in New Caledonia over mine attacks - Police in New Caledonia have arrested three men in connection with the arson attacks on the SLN nickel company's site in Kouaoua. - more

      Western Areas’ boss David Southam to join Mincor for Kambalda nickel restart - Mr Southam will take over from current chief executive Peter Muccilli in February. He had been an executive director of nickel producer Western Areas since 2010. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 21

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.04/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell about the same amount they rose on Monay and start today just over the 215,300 tonne level, or 6 tonnes lower than we started the week at. Nickel closed below major support for a second consecutive day yesterday, sending another bearish technical signal. Next support line is at $5.00/lb. Commodities appear to have gotten caught up in the big equity sell off yesterday, and are trading in neutral this morning, apparently watching to see what US markets will do when they open. Lot of uncertainty out there about the China - US trade spat and an analysis by a USTR "Section 301" investigation into China's intellectual property and technology transfer policies released yesterday is not building confidence in an agreement. It stated "This update shows that China has not fundamentally altered its unfair, unreasonable, and market-distorting practices that were the subject of the March 2018 report on our Section 301 investigation." This statement was released after U.S. markets had closed yesterday, and while U.S. stock futures are higher at the moment, it will be interesting to see if this statement has any adverse affect on markets today. The Euro is slightly higher this morning, but still lower than yesterday, so any help for commodity traders there is minimal. Volatility rules, and since June, that has been bad news for nickel. This is our final update for the week, with US markets closed Thursday for the Thanksgiving holiday. We are thankful you joined us today, and hope you have an enjoyable and safe weekend. We hope to see you again next week.
  • Average price of cash nickel so far this month - $5.21/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Softer dollar, firm equities spur copper's gains - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • SMM - Average daily output of crude steel across China Iron and Steel Association member mills during first 10 days of November rose 0.57% from the last 10 days of October.
  • Mining and tourism among Northern Manitoba issues touched on in speech from the throne - more
  • USTR says China has failed to alter 'unfair, unreasonable' trade practices - more
  • U.S. Futures Gain With Europe Stocks; Oil Rallies: Markets Wrap - more

     Tuesday's market review - Copper reverses rally on stock market losses, trade disquiet - Copper prices slipped on Tuesday after five days of gains, unnerved by a sell-off on share markets and sapped by uncertainty before a meeting of U.S. and Chinese leaders. - more

      Global nickel market deficit widens in September - INSG - The global nickel market deficit widened slightly to 9,200 tonnes in September from the previous month's revised deficit of 8,100 tonnes, the International Nickel Study Group (INSG) said. - more

     Imports of nickel unwrought, not alloyed surge in Oct in anticipation of robust demand - China imported 24,300 mt of nickel unwrought, not alloyed in October, up 35% month on month and 54% year on year, showed data from China Customs. - more

      China Produces 82.55 MT of Crude Steel in Oct, a High for the Year - China's National Bureau of Statistics announced on 14 November that the country's crude steel production output in October stood at 82.55 mil tons, up 9.1% year-on-year (y/y) and 2.1% month-on-month (m/m), exceeding the 80-mil ton mark for six straight months and marking the highest monthly figure not only in the year but also in the past five years. - more

      BHP Nickel West mine receives EPA backing - BHP Billiton Nickel West’s proposal to build and operate a new nickel sulphide mine near Leinster in Western Australia has been approved by the state’s Environmental Protection Authority (EPA). - more

      Norilsk Nickel cautiously opening the conversation with environmentalists - Environmentalists are at last hearing something encouraging from Norilsk Nickel, one of Russia’s biggest polluters –which last week delivered a grudging acknowledgement of its past mistakes and offered the beginnings of a transparent plan to make them right. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, November 20

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.07/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Monday and started today's session just under the 215,600 tonne level. At the moment we are writing this, nickel is trading over the technical line of support by $2.50. With nickel having closed below support yesterday, someone is apparently taking the 'second consecutive close below support being bearish' theory seriously, and trying hard to keep the market above that line today. Based on trading earlier in the session, today has turned into a up and down skirmish between the bulls and the bears, with the odds tipped to the bearish side. Steel prices continue to slide in China, while the Euro has recovered from much of the last months losses against the US Dollar. Markets appear to be trading the G-20 summit next week, and the odds of a trade agreement being announced between China and the U.S. The ramifications are so important to nickel, that the mere tone in someone's voice used during an interview, can turn the market. There was little tone used over the weekend by the Vice President, but his message was clear, and world markets reacted Monday. Or was his message another threat to force the others hand and push them over a line they may have drawn in the negotiation sand? Or is an agreement pretty much a done deal and the 'threats' just a way to make the President look tougher when an agreement is announced? That is why there is no such thing as 'clear' when it comes to politics. The pressure appear to be on China, with the US economy in pretty good shape. China, on the other hand, has to run at a speed well above the 'pretty good shape; level, and right now, evidence is starting to show the tariff's are having an adverse effect. How much no one really knows. One thing is clear, We will know more by the first trading day of December. Until then, traders bet their hunches.
  • Average price of cash nickel so far this month - $5.22/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper snaps 5-day rally as U.S.-China trade tensions weigh - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Track Tech Slump in U.S.; Treasuries Gain: Markets Wrap - more
  • El Niño ALERT and positive Indian Ocean Dipole continue - more

     Yesterday's market review - Copper edges higher ahead of G20 summit - Copper rose for a fifth straight session on Monday, with hopes of a resolution to the U.S.-China trade war outweighing the threat of higher U.S. tariffs on Chinese goods. - more

       PH miners ride on China's nickel ore hunger, keeps eye on trade war - China's growing appetite for electric vehicles is helping drive demand for nickel ore in the Philippines' largest export market for the mineral, the head of an industry group said Tuesday. - more

      Nickel prices continue to slump - Nickel prices have sagged to the lowest they’ve been in nearly a year, in large part due to dynamics in China. - more

      Nickel Going Through A Rough Patch In 2018 - video here

      Brazil court orders Vale to pay damages to indigenous tribes - Vale is ordered to pay $26.8M to two indigenous tribes by a Brazilian court over river contamination and public health-related issues caused by the company’s nickel-extracting operations in Pará state. - more

     Courtesy AISI - In the week ending on November 17, 2018, domestic raw steel production was 1,924,000 net tons while the capability utilization rate was 82.1 percent. Production was 1,708,000 net tons in the week ending November 17, 2017 while the capability utilization then was 73.3 percent. The current week production represents a 12.6 percent increase from the same period in the previous year. Production for the week ending November 17, 2018 is up 0.5 percent from the previous week ending November 10, 2018 when production was 1,915,000 net tons and the rate of capability utilization was 81.7 percent. - more

  Morning Nickel Price Statistics & Figures

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

Monday, November 19

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.15/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell the last two sessions and started the week just over the 215,300 tonne level. Nickel rose on Friday, thanks to a statement by President Trump, that hinted at a trade agreement later in the month. On Saturday, Vice President Pence at the Asia-Pacific Economic Cooperation summit in Papua New Guinea, renewed the 'double our tariffs' threat, and commodity markets are reacting  this morning. Nickel is now flirting once again with major support at $5.09/lb, and technical indicators remain negative. US traders will have a shortened trading week, with markets closed Thursday for Thanksgiving, and some traders taking advantage of the holiday to take an extended weekend.
  • Average price of cash nickel so far this month - $5.23/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper edges higher amid mixed China-U.S. trade signals - more
  • Reuters Daily Inside Metals - pdf here
  • Platts - Platts China Steel Sentiment Index slumped to a 28-month low in November. Expectations for new steel orders in the month ahead, dropped to 15.23 points out of 100 from 46.03 in October.

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Pence's Sharp China Attacks Fuel Fears of New Cold War - more
  • (SO) China’s stainless steel output rises by 8.5 percent in Jan-Sept
  • Stocks Mixed as Treasuries Decline; Pound Advances: Market Wrap - more

     Friday's market review - Signs of tight supply push copper and zinc higher - Copper rose on Friday as signs of supply tightness supported prices, but worries about the outcome of the U.S.-China trade dispute limited gains. - more

      DENR says 9 suspended mines can resume if conditions met - The Department of Environment and Natural Resources said 9 suspended mines would be allowed to resume operations if they rectify previous violations of environmental regulations, a move that could boost nickel output in the major supplier of the metal. - more

      IMOA Announces World Mo Consumption in Apr-Jun 149.6 Mil. Lbs = Up by 6% from prior period and production volume is 137.3 million lbs = According to the announcement made by International Molybdenum Association (IMOA), the consumption of molybdenum all over the world in the period from April to June in 2018 was 149.6 million lbs, up by 6% from the prior period. On the one hand, the production volume was 137.3 million lbs, up by 1% ditto. - more

      Nornickel aims to boost output to tap electric car boom - Russian nickel and palladium producer Norilsk Nickel (Nornickel) plans to ramp up output over the next five years to tap an expected boom in demand from electric vehicle makers, its CEO and top shareholder Vladimir Potanin told Reuters. - more

      Nickel West’s battery vision - Addressing the What’s Down the Track Forum in Kalgoorlie-Boulder yesterday, Mr Terry said a wave of new mine developments in the northern Goldfields and a push to extend the life of the smelter’s furnace were helping to safeguard Nickel West’s long-term production. - more

      Volkswagen to devote 3 German plants to electric car push - German automaker Volkswagen will convert three factories in Germany to manufacture electric cars, ramping up production of zero-local emission cars ahead of tougher European emissions standards, the company said Wednesday. - more

      Norilsk Nickel begins educational project for children about Russian North - The Norilsk Nickel Company (Nornickel) plans to launch a new educational project about the Russian North, the company’s Head of Humanitarian Projects Yulia Kantor said at the international cultural forum on Friday. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, November 15

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.13/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started the day just under the 216,200 tonne level. Nickel is trading higher this morning, and commodity analysts are crediting rumors that representatives from China and the US are talking once again, which may increase a potential trade deal announcement at the G-20 meeting at the end of the month. Other factors remain quite bearish, with the Euro trading at annual lows, and Chinese steel futures again falling. This may prove to be little more than shorts covering their bets, which occasionally causes spikes in an otherwise bearish market. The rate of LME nickel withdrawals continue to fall, and for the first half of November they are down to averaging 244.36 tonnes per day. This isn't exactly surprising, considering last November stockpiles fell by less than 2,000 tonnes over the entire month. We are already ahead of that at the half way point of this month. Another day where finding current news about nickel or stainless steel production and/or consumption was fruitless. This is our last update for the week, so we hope each of you has a safe and restful weekend, and hope to see you next week. It will be Thanksgiving week on this side of the pond.
  • Average price of cash nickel so far this month - $5.25/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper, aluminium edge up as investors eye potential Chinese stimulus - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Pound Slumps, Stocks Take Hit Amid Brexit Turmoil: Markets Wrap - more

     Wednesday's market review - Base metals tread water on mixed China data - Base metals held steady on Wednesday as weak retail sales data from top consumer China took the shine off upbeat industrial output and investment figures in the country. - more

      China's Oct crude steel output rises 9% to record 82.55 mil mt - China's crude steel output in October hit a record 82.55 million mt, up 9.1% on year, data released by the National Bureau of Statistics on Wednesday showed. The annual growth rate compares with 7.5% in September. - more

      OSHA Fines Steel Firm $320K Over Safety Hazards - The company has 15 business days from the date of receipt of the citations to comply or contest the findings before the Occupational Safety and Health Review Commission. - more

      Rep. Layman on decision to grant permits for PolyMet copper-nickel mine - On Nov. 1, the Minnesota Department of Natural Resources announced its decision to issue numerous permits for the PolyMet copper-nickel mine in Northeastern Minnesota. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 14

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed  Tuesday's trading session at $5.15/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just over the 216,300 tonne level. Nickel can't find its footing, and continues to slide, although it is trading off yesterday lows of $5.10/lb. Steel futures in China rebounded slightly last night, but the trend is still negative. The US Dollar is trading off yesterday's high. which was also the highest for the year, and the highest since mid 2017. Macro economics continue to keep the commodity walkway dotted with quicksand. Besides the concerns we mentioned yesterday, the elephant in the room has been in the 21st century, and remains, economic growth in China. It's not always easy getting reliable information from the country, but signs are emerging that things are starting to slow down there. Will this force the Chinese to make concessions at the G20 meeting? We still have a few weeks to find out.  
  • Average price of cash nickel so far this month - $5.27/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper falls as China’s Oct retail sales disappoint - more
  • Reuters Daily Inside Metals - pdf here
  • Jim Lennon ,managing director of Red Door Research on future of nickel - video here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • JPMorgan's co-head of metals to leave around end of the year - more
  • U.S. budget deficit expands to 100 billion USD in October - more
  • U.S. Holds Off on Trump’s Car Tariffs After Trade Meeting, Sources Say - more
  • Stocks Drop as Oil Turns Higher; Pound Fluctuates: Markets Wrap - more

     Tuesday's market review - Copper advances on U.S.-China trade optimism - Copper prices rose on Tuesday as worries about growth in top consumer China receded after a report that the country’s chief trade negotiator could visit the United States before a meeting between the two countries’ leaders. - more

       Ni-base CR SST Market Price in Asia About to Sink below $2,000 CFR - The prices of nickel (Ni)-base cold-rolled (CR) stainless steel (SST) in the Asian region have been falling further: the price of SUS 304 to Hong Kong has gone down to $2,050 CFR. - more

      Traders forecast bearish outlook for iron ore, steel on weak China economic data  - The steel market responded negatively to mixed economic data out of China Wednesday, with most tipping a weak end to the year. - more

        LP finance chief in trouble over nickel shipment - The Department of Environment and Natural Resources has asked the Bureau of Customs to look into the possible undervaluation of a shipment of nickel ore to China by Eric Gutierrez of S.R. Metals Inc., who is also the treasurer of the opposition Liberal Party. - more

      The EPA Can’t Wait to Reopen the Mine That Poisoned North Idaho - For a century, the mines of the Coeur d’Alene Mountains in North Idaho produced much of the heavy metals that made the U.S. a global superpower. - more

      Glencore to install underground LTE network at Raglan’s Qakimajurq nickel mine in 2019 - Glencore’s Raglan nickel mine team in Nunavik, northern Quebec stated recently: “Technology is omnipresent in our personal lives and has changed our personal lifestyle habits. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, November 13

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.16/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses slipped by a few tonnes yesterday and started today's session at 216,600 tonnes. Nickel is trading higher today and business media seems tobe crediting reports of back door conversations going on between China and the US over the trade dispute. While there is no evidence an agreement is imminent, no agreement can be reached without talks so.... Nickel closed for a second time below support at $5.24/lb and has yet to make it back up to that point this morning. If you are one of those who take the technical signals seriously, then a second close below support is a bearish signal. If this line holds, then look to $5.03/lb for the next support. Macro economic signals are also adding pressure. The trade dispute is the major thorn in commodities side right now, but the strength of the US Dollar and political problems in Europe are also adding negative pressure. Steel prices in China continue to fall as well. Enjoy a potentially bullish market today, because the news has been downright negative so far this week.
  • Average price of cash nickel so far this month - $5.28/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper rebounds amid U.S.-China trade optimism - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • US Trade Tensions Will Not Derail Chinese Economy, Commerce Ministry Says - more
  • The Man Who Brought Down a Commodity Giant Says He Acted Alone - more
  • Stocks Climb on Trade Talk Hopes; Oil Extends Loss: Markets Wrap - more

     Yesterday's market review - Nickel slumps to 11-month low on stainless steel worries - Nickel fell to an 11-month low on Monday on worries about stainless steel, while other base metals were pressured by uncertainty about the global economy. - more

       Sherritt International sees jump in nickel production and profit - Sherritt International, has released its 2018 Q3 report, and the numbers are up, thanks to the success of the company’s Moa joint venture (JV) with the Cuban Government. - more

       Shipment of Steel by U.S. Mills Declined 7.5% - The combined steel shipments by the U.S. mills during initial nine-month period of 2018 totaled 71.469 million net tons. - more

      Courtesy AISI - In the week ending on November 10, 2018, domestic raw steel production was 1,915,000 net tons while the capability utilization rate was 81.7 percent. Production was 1,708,000 net tons in the week ending November 10, 2017 while the capability utilization then was 73.3 percent. The current week production represents a 12.1 percent increase from the same period in the previous year. Production for the week ending November 10, 2018 is down 0.1 percent from the previous week ending November 3, 2018 when production was 1,917,000 net tons and the rate of capability utilization was 81.8 percent. - more

  Morning Nickel Price Statistics & Figures

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

Monday, November 12

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.20/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME licensed warehouse fell on Thursday and Friday and start the week just over the 216,600 tonne level. Nickel fell sharply on Friday as traders fret about world events and market data. Nickel closed below support on Friday and is showing no signs of climbing back to that point today - at least yet. A US Dollar trading at a year high is also adding negative pressure on commodity trading in general. US stock futures are pointing south again today, showing on a more visible scale, the nervousness amongst traders. China steel futures are lower for a second week, and stainless steel prices in that country are continuing a down trend. Oil prices are falling and while that is good news for the consumer at the pump, it is sending markets a negative economic signal. All in all, not a real cheery start to the week on the news front... but it is still early. We hope you enjoy your week.
  • Average price of cash nickel so far this month - $5.30/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Nickel slumps towards 11-month low on stainless steel worries - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Nickel Asia net income surges 35% to P3.54B - more
  • Xinhua Headlines: 1978-2018: China's import history through the lens - more
  • Peter Peng of CRU Group via Reuters - “Stainless steel prices dropped a lot in the last two weeks because production is too high...Investors are quite bearish about the futures market.".
  • Stocks Slip in Europe; Dollar Strengthens With Oil: Markets Wrap - more

     Friday's market review - Nickel hits near 11-month low as speculators step up pressure - Nickel slumped to its lowest price in nearly 11 months on Friday and other industrial metals slid as speculators unleashed more selling due to worries about higher U.S. interest rates and slowing Chinese economic growth. - more

      New Caledonia fire follows end of mine blockade - Police in New Caledonia have opened an investigation into yet another fire at the nickel mine in Kouaoua - the 14th this year. - more

      Iron ore’s China import boom seen faltering as peak passes - The great Chinese iron ore buying machine may be about to falter. Imports of the raw material that feed the world’s largest steel industry are at risk of shrinking this year for first time since 2010 even as official figures suggest that mills are producing unprecedented amounts of steel. - more

      Glencore's radioactive shock for the cobalt market: Andy Home - Glencore’s Katanga mine in the Democratic Republic of Congo (DRC) was supposed to transform the cobalt market. - more

     On the Iron Range, new hopes and new anxieties - For years, residents of this struggling mining town have clung to the hope that their old way of life would return. - more

      Steel industry co-products – worldsteel position paper - The World Steel Association (worldsteel) has published a position paper on the steel industry’s use of co-products. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, November 8

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.36/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started today just over the 217,000 tonne level. So far, base metal traders have shown they are less than impressed with Tuesday's election results with the price of nickel sliding since. To be fair, this is merely the continuation of a down trend that has been in place since June. Everyone is looking in the tea leaves trying to figure out what might happen with Presidents Trump and Xi meet later this month in Argentina. On Monday, President Xi took a swipe at US policy when he told the China International Import Expo "In a world of deepening economic globalisation, practices of the law of the jungle and winner takes all only represent a dead end.” On the other hand, President Trump has backed off the threats and is implying a deal is near. Just today, one of China's top diplomat's stated the meeting would be of great significance. Does that mean something more than the obvious? Who knows. Maybe, time will tell. Keep an eye on $5.24/lb for support. If it is tested and holds again, it could sent a positive technical signal, albeit a weak one. In the mean time, this is our last update for the week, so we wish you a safe and enjoyable weekend and invite you back next week.  
  • Average price of cash nickel so far this month - $5.33/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper, aluminium prices steady ahead of U.S. Fed statement - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Exports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • U.S. Stock Futures Slide as Treasuries Advance: Markets Wrap - more

     Wednesday's market review - Zinc falls to 7-week low on expectations of rising supply - Zinc prices on Wednesday fell to a seven-week low on expectations that a supply crunch will ease. - more

      Price Upturn Forecast in North American Stainless Steel Market in First Half of 2019 - MEPS North American average stainless steel transaction values decreased, in October, due to large reductions in alloy surcharges. - more

     Japan's Sumitomo Metal cuts FY profit forecast on lower metal prices - Japan’s Sumitomo Metal Mining Co Ltd posted a 52 percent jump in half-yearly pre-tax profit on Thursday but cut its full-year forecast, blaming lower-than-expected metal prices amid the U.S.-Sino trade spat, and reduced nickel output. - more

     LME Ni Average Price in October Down by 2% from Prior Month =Ni also continues dropping due to aggravated trade friction between USA and China and large drop in share prices= LME monthly average nickel price in October 2018 was Cash seller: US$12,327.17 per ton (US$5.592 per lb) and 3-month seller: US$12,414.78 per ton (US$5.631 lb). - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 7

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.39/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just over the 217,400 tonne level. The US elections are over and the President's party strengthened his hold on the Senate, but lost the House. The commodity markets, at least at the moment, appear to be welcoming the news, with nickel one of a very few trading in the red this morning. The base metals industry is far more interested in what will come out of trade talks between the US and China this month. The two will meet later this month in Argentina. President Trump still holds another $257 billion in tariff's he has threatened to impose if these talks prove fruitless - although the last time they were used as a threat, the Dow Jones turned from a positive day, to end up as its worst trading day of the year. The market sent a message that day - work out an agreement. Voters sent a split message, but for the most part, a nod of approval on how he has performed in the first two years of his administration. Look to $5.24/lb as offering some strong support. It held earlier this week and has yet to be tested again. Oh ... and we leave our American readers with this thought. The 2020 U.S. Presidential election? That starts today.
  • Average price of cash nickel so far this month - $5.34/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London copper rises as dollar drops on Democrat's gains in U.S. elections - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Baowu says China steel output to hit record level in 2018 - more
  • Dollar Drops, Stocks and Bonds Jump After Midterms: Markets Wrap - more
  • El Niño ALERT continues; positive Indian Ocean Dipole - more

     Yesterday's market review - Copper slips ahead of U.S. elections, Fed meeting - Copper prices slipped on Tuesday as the market waited for the result of the U.S. midterm elections and a monetary policy meeting of the U.S. Federal Reserve later this week. - more

      Contradictory views on China’s steel output. But only time will tell if production will rise or fall - Reports by the Australian government and other economic analysts that Chinese steel production has peaked are at odds with the expectations by local observers that the government’s infrastructure push will underpin demand - more

      Market Trend of Import of Ferroalloy as of 31 October 2018 = Price of manganese metal drops, and price of FeV stops dropping = The market trend of import of ferroalloy as of 31 October 2018 is as follows. - more

      Glencore to go deeper at Sudbury operations - Cleaner. And deeper. That’s the direction Sudbury Integrated Nickel Operations (Glencore) is heading with its existing properties, a new nickel mine in the Onaping area and copper deposits it hopes to develop north of Capreol. - more

     Courtesy AISI - In the week ending on November 3, 2018, domestic raw steel production was 1,917,000 net tons while the capability utilization rate was 81.8 percent. Production was 1,706,000 net tons in the week ending November 3, 2017 while the capability utilization then was 73.2 percent. The current week production represents a 12.4 percent increase from the same period in the previous year. Production for the week ending November 3, 2018 is up 1.0 percent from the previous week ending October 27, 2018 when production was 1,898,000 net tons and the rate of capability utilization was 81.0 percent. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, November 6

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.33/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just under the 217,700 tonne level. Electronic vehicle sales figures for October are out and sales for the month increased from approximately 14,300 last year to near 34,100 this year. Worldwide, sales for the month of September totalled just over 200,000 compared to just under 125,000 last year. That's a lot of batteries and a lot of nickel being used. Chinese media reports the stainless steel industry in that country remains weak, with lower demands and higher inventories forcing some producers to turn to the government for help. In the US, today is election day, with midterm elections deciding who will control the House and Senate for the next two years. Nickel is trading slightly higher this morning, but we are seeing no real reason for the movement, and trading has been limited to a $150/tonne range so far this session. Technical indicators remain weak and bearish, although optimism or pessimism about trade talks between China and the US this month, could add some volatility. Any trade agreement between these two economic giants that traders approve of, and we could see the trend shift back to positive. Very slow news day for the industry. 
  • Average price of cash nickel so far this month - $5.34/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper slips ahead of U.S. elections, Fed meeting - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Ausmon moves in next door to Sconi cobalt and nickel project - more
  • Big investors are loving small nickel and copper stocks as electric car market grows - more
  • U.S. Futures Slip With European Stocks; Oil Drops: Markets Wrap - more

     Monday's market review - Copper slips on profit-taking - Copper led base metals lower on Monday as investors took profits after the metal used in power and construction touched a two-week high on Friday. - more

      Price of HR SST Coil in East Asia Shows Stronger Downward Trend - The price of nickel (Ni)-base hot-rolled (HR) stainless steel (SST) coil is likely to fall, reportedly by about $50. - more

  Morning Nickel Price Statistics & Figures

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

Monday, November 5

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.42/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on both Thursday and Friday and started the week just over the 218,400 tonne level. The average rate of LME nickel withdrawals in the first half of 2018 was 764,30 tonnes per day. Last month that rate of withdrawal average fell for a second month and averaged 421.83/tonnes. Nickel rose late last week, thanks in part to a referendum in New Caledonia and a 'positive' phone call between Chinese President Xi and US President Trump. The referendum for New Caledonia independence failed, and the call was downplayed by multiple senior officials over the weekend as no trade deal was imminent. For the most part, the commodity markets are in a holding pattern today, with nickel down the most. Mid term elections are tomorrow and the path of the next two years will be determined. Will be interesting to see how commodity traders react to tomorrow's outcome. Other than that - it would appear trading houses have shown their cards, and the markets are reacting strongly to trade war news.
  • Average price of cash nickel so far this month - $5.35/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London copper slips from two-week top - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • US midterm elections: A carnival of Trump - more
  • BHP suspends operations after ghost train travels almost 100km - more
  • Every U.S. Metal Producer Is Down for 2018, Despite Tariffs - more
  • California adds soluble nickel compounds to Prop 65 - more
  • Stocks Struggle as Trade Hopes Fade; Pound Rises: Markets Wrap - more

     Friday's market review - Copper leads metals rally on Trump-Xi trade optimism - London copper prices rose sharply on Friday, extending a rally from the previous session after the presidents of the United States and China both expressed optimism about resolving a trade row between the two countries. - more

       Caledonia referendum puts nickel on watch - Voters in the French Pacific territory of New Caledonia have rejected a bid for independence in a closely-watched referendum. - more

  • New Caledonia votes to remain part of France: What comes next - more

      Russia: Moscow Exchange launches trading in non-ferrous metals - The Moscow Stock Exchange has started trading in futures contracts for non-ferrous metals (aluminum, nickel, zinc and copper). - more

      PolyMet secures permit for copper-nickel mine in Minnesota - Poly Met Mining has secured permits from the Minnesota Department of Natural Resources (DNR) to move ahead with the proposed PolyMet mining project in northeastern Minnesota. - more

  • DNR's PolyMet permits bring Minn. closer to its first copper-nickel mine - more

      Mantashe won’t save you, Norilsk tells BCL - Russian metals giant, Norilsk Nickel says even if BCL secures a positive review from South Africa’s minerals minister, Gwede Mantashe, in its fight to avoid a multimillion dollar claim, the battle will go on. - more

       Palmer gets rid of a second judge for Queensland Nickel trial - Clive Palmer has succeeded in his bid to have a second Supreme Court judge step down from a three-month trial next year, when liquidators for his failed Queensland Nickel company will seek to recover millions of dollars owed to creditors. - more

      LME to test electronic close on other metals if nickel trial succeeds - The London Metal Exchange (LME) plans to extend a trial of using electronic closing prices rather than open outcry for nickel to other metals, its chief executive told the Reuters Global Commodities Summit in London. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, November 1

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.21/lb . Indicators at 6:10 am CST today show 3 month nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose by just a few tonnes on Wednesday, and started today's session just under the 218,900 tonne level. Nickel continued to sink yesterday, falling below another line of technical support ($5.25/lb). At the moment, nickel is back to this line of support, but just barely. Busy news day for the first day of November. This is our final update for the week. so we wish you a safe and enjoyable weekend, and invite you to join us again next week.
  • Average price of cash nickel so far this month - $5.59/lb (average for October)
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Shanghai aluminium extends falls to fresh 2-year low - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Europe Stocks, U.S. Futures Advance; Pound Jumps: Markets Wrap - more

     Wednesday's market review - Aluminium hits near 15-month low on slowing China factory growth - Aluminium fell near a 15-month low on Wednesday, clocking up a 5 percent loss on the month, after data showed China’s manufacturing sector grew at its slowest pace since July 2016 and concerns lingered about excess Chinese supply. - more

      Strong Growth Predicted for Global Stainless Steel Production - MEPS forecasts that world crude stainless steel output will reach an all-time high of 51.75 million tonnes, in 2018. - more

       Molybdenum production & use increase in second quarter - Global production of molybdenum increased to 137.3 million pounds in the second quarter of 2018, up 1% from 136.6 million pounds in the previous quarter, figures released today by the International Molybdenum Association (IMOA) show. - more

       Glencore PLC Sees A 178 KT Primary Nickel Deficit For 2018 -  Projects A 178 KT Primary Nickel Deficit For 2018 - more

       Price of HC FeCr in China Shows Declining Mood = Major customer submits lowered price in tender for November purchase = The price of high-carbon ferro-chrome in the Chinese domestic market rebounded temporarily in the middle of September, but immediately stopped rising and remained without changing in October.  - more

      Mining Veteran Wants to Build a $1 Billion Battery Metals Giant - South African mining veteran Brian Menell wants to build a battery material giant to help challenge China’s domination of the nascent industry. - more

      Sumitomo lowers nickel output forecast at Ambatovy mine in Madagascar - Japanese trading house Sumitomo Corp on Thursday lowered its forecast for nickel output at its Ambatovy project in Madagascar to slightly above 40,000 tonnes in the year to March 31, below its projection in May of 48,000 tonnes. - more

      Nickel Mines scores a big tax break for Indonesian stainless steel project - Nickel Mines’ Indonesian partner will not have to pay income tax for the first seven years of operation of its stainless steel project. - more

       Queensland Nickel proceedings a witch hunt: Palmer - Businessman Clive Palmer speaks to the media outside Brisbane Supreme Court on Wednesday. Palmer indicates he'll move to stop legal proceedings involving Queensland Nickel, claiming there's been an "abuse of process". - more

  • 'Otherwise inadmissible': Judge asks why Palmer is representing himself - more

  Morning Nickel Price Statistics & Figures

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

October Archives


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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.

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