This page is archived news covering the period of November 2019
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Stainless Steel News and Nickel Prices

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Tuesday, November 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed yesterday's trading session at $7.06/lb ($15,565/tonne). Indicators at 6:20 am CST today show nickel trading around $.07/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Monday and started today's session just over the 65,400 tonne level. Nickel continues to fall and is testing a major support level. Back in late August, a bullish run that nickel had started in mid-June, paused from August 15th to August 27th, before spiking sharply to its 2019 high.  We are now trading at the bottom of that 'pause', and  falling below this level, will send another negative signal to the market. We told you last month we were following the new stainless steel contract being traded on the Shanghai Futures Exchange, and after closing at 15,855 on September 24th, it closed last evening at 14,385. Its been in a slow negative trend ever since the contract was introduced, and could be reflective of a new contract trying to find its feet. Cancelled warrants continue to fall and fell to the 41% range yesterday. They were in the 60% range when LME announced it was starting to investigate why so much inventory was leaving the warehouses - just a few weeks ago. Does make one wonder, doesn't it? With Indonesia not changing its mind on a daily basis, there is much less news this week than last. We leave you with what we found.
  • Average price of LME traded cash nickel so far this month - $7.40/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Nickel heads for 7th straight drop as supply concerns ease - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Plug-in's share out of overall BMW/MINI volume was almost 7% - more
  • British Steel to be sold to Jingye Group - more
  • Stocks Rise Amid Trade-War Lull; Treasuries Drift: Markets Wrap - more

     Yesterday's market review - Copper slides as China data weighs on sentiment - Copper prices slipped on Monday as weak data from top consumer China reinforced poor demand and growth prospects, with the prolonged U.S.-China trade dispute undermining economic activity globally. - more

      “The metal industry is about to undergo one of greatest upheavals in history” - Metallic materials are the backbone of modern economies. However, large quantities of CO2 are produced during their production and processing. - more

      Ramu security blocks slurry spill investigators - Security guards at Papua New Guinea's Ramu Nickel Mine have denied access to scientists and medical practitioners investigating a toxic slurry spill in Morobe Province. - more

      Courtesy AISI - In the week ending on November 9, 2019, domestic raw steel production was 1,862,000 net tons while the capability utilization rate was 80.5 percent. Production was 1,903,000 net tons in the week ending November 9, 2018 while the capability utilization then was 81.2 percent. The current week production represents a 2.2 percent decrease from the same period in the previous year. Production for the week ending November 9, 2019 is down 1.4 percent from the previous week ending November 2, 2019 when production was 1,888,000 net tons and the rate of capability utilization was 81.6 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 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Friday's trading session at $7.35/lb ($16,190/tonne). Indicators at 6:20 am CST today show nickel trading around $.17/lb . Nickel closed down $10/tonne on Friday, $.26/lb lower than it had closed the prior Friday. After the Fed eased recession concerns last week, attention has shifted back to the trade war, with the simplest rumor sending the market in responsive directions. Friday, the news was about the lifting off tariffs as a condition of an agreement, and so far today, this appears to be a continual sticking point, with the market responding negatively.  This may or may not explain why nickel is lower sharply this morning, but the commodity board as a whole, is a sea of red this morning. The Strait Times reported over the weekend that Minister for Maritime Affairs Luhut Pandjaitan told them in a Friday interview that a majority of the ore shipped from Indonesia over the last few months did not comply with export regulations. Deni Sur Jantoro, spokesman of the Indonesian General Administration of Customs, told Chinese media on October 31st, that the newest export ban was caused by an investigation into seven export companies. But today, Reuters is reporting only nine companies of the approximate eleven (it was 30 last week) exporters in the country, have been allowed to resume shipments. Even the Jakarta Post, the biggest paper in Indonesia, is expressing some frustration this morning with a headline "Govt flip-flops on nickel ban". For a country begging for investment into the country, this inability to be consistent, or forthcoming, is sending warning signals to investors.  Nickel is starting the week bearish, which in the short term isn't good for producers or users, but in the long term could be good news for the stainless steel industry. Why the market is bearish in the face of dropping inventory numbers remains to be revealed, but in the mean time, we leave you with the news and our hopes you have a great week.
  • Average price of LME traded cash nickel so far this month - $7.44/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Nickel declines as inventories rise, Indonesia resumes exports - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • SFSA Casteel Reporter - more
  • Thyssenkrupp AG 9 month report - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China says U.S. will, and must, cut tariffs to reach a trade deal - pdf here
  • Stocks Decline as Hong Kong Adds to Trade Worries: Markets Wrap - more

     Friday's market review - Aluminium falters after touching near two-month peak - Aluminium prices slipped from near two-month peak on Friday  as analysts warned that producers were on the sidelines ready to hedge. - more

      Jakarta Post - Govt flip-flops on nickel ban, allows exports until January - A week after announcing a temporary ban on nickel ore exports, Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan has announced exports are to be permitted until January 2020. - more

      PNG and international scientists denied access - Papua New Guinea scientists and medical practitioners engaged by the national government and working together with the International Scientists on the Ramu Mine spill were denied access to the Ramu Nickel mine site..... - more

      Mining industry seen growing in 2020 on Indonesia export ban - The Mines and Geosciences Bureau (MGB) said it is projecting the mining industry to grow next year, factoring in the priority mining projects in the pipeline, as well as increased prices for nickel ore due to the export ban in place in Indonesia, the top producer. - more

      Nickel tycoon's family dramas put $110m estate in limbo - Millie Phillips was once the richest woman in Australia but now her “quarrelsome personality” has led to a court battle over the 90-year-old's refusal to sign a will covering her estate, estimated to be around $110 million. - more

      Is China locking up Indonesian Nickel? - As it has done with cobalt, graphite and rare earths, China appears to be locking up the nickel market.
Nickel’s top producer, Indonesia, in early September decided to accelerate a scheduled ban on ore export shipments, from 2022 to January 1, 2020. - 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
Friday, November 8

LME nickel prices  Abbreviated Friday Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Thursday's trading session at $7.35/lb ($16,200/tonne). Indicators at 6:20 am CST today show nickel trading less than $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouse fell on Thursday and started the day just under the 66,100 tonne level. The news this week slowed in the latter half, and except for the news from Indonesia, which changes, is denied, and then later confirmed, the nickel industry has been rather quiet this post 'LME Week' - week. Nickel fell on Monday and has traded sideways since. Trade talk rumors are flying fast and free, with equity markets apparently betting they are more true than not. This is the final update for the week, and we hope each of you has a safe and entertaining weekend, and invite you back next week.
  • Average price of LME traded cash nickel so far this month - $7.46/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - LME copper eases on mixed trade signals, tepid China data - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • Mincor Resources Presentation - pdf here
  • Talon Metals Presentation - pdf here
  • US Exports of Stainless Steel Mill Products - more

     Thursday's market review - Copper hits highest in more than two months on trade war progress - Copper rose on Thursday to its highest in more than two months after China said it had agreed with the United States to cancel tariffs imposed during a protracted trade war in phases, reviving hopes for an end to the conflict and a boost in demand for metals. - more

      Indonesia allows nickel ore exports to resume for some - minister - Indonesia has allowed some nickel ore exporters to resume shipments following a temporary halt to investigate reports of violations, the minister who oversees the mining sector said on Thursday. - more
  • Indonesia's daring electric dream - more
      Commodity outlook by Tradebulls Securities: Buy zinc, sell nickel  - Nickel has given sell cross over on daily scale by 20 and 50 moving average. RSI_14 is below 50, currently trading at 41 so trend is bearish. - more

      Nippon Steel sees about 400,000 mt production loss from plant stoppages -  Nippon Steel, Japan's largest integrated steelmaker, expects to lose about 400,000 mt of crude steel production in fiscal 2019 as a result of stoppages this year at its plants at Kimitsu Works near Tokyo, and Nippon Steel Nisshin's Kure Works in Hiroshima, the company confirmed Thursday. - more

      Nickel plant faces closure, locals fear their town is doomed - The toxic smoke that for decades has embraced the borderlands between Russia and Norway might soon vanish. - more

Thursday, November 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Wednesday's trading session at $7.37/lb ($16,245/tonne). Indicators at 6:20 am CST today show nickel trading around $.02/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Wednesday and started today's session just under the 66,500 tonne level. Nothing in the news today except more about Indonesia, and frankly, we are tired of the mixed signals coming from the country. No one seems to know what is going on and those who do, seem to change their minds quite frequently. News this morning is different than was being posted last evening, and today's news will probably be wrong by the time we post our update. For those interested in the long term condition of the nickel industry, the fact they have decided to block exports of nickel ore effective January 1, 2020 is really all we need to know. Those who are still invested in Indonesia nickel mining companies are probably interested in what happens daily over the next eight weeks, but we suspect there are fewer of those remaining. Back to London nickel trading, and what effectds all of our readers, nickel fell on Monday, and since then has entered a choppy up and down pattern, trading as low as near 16,150 to as high as around $16,400 per tonne. The fundamentals remain bullish, but for some reason the market entered a bearish phase around October 10th, and hasn't been able to hit the gas since.  Stainless steel producers and users are not complaining and welcome the break,  but the seeming disconnect between the fundamentals and trading price has many scratching their heads. Until tomorrow.
  • Average price of LME traded cash nickel so far this month - $7.48/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper slips as possible delay of U.S.-China trade deal weighs - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • Commodity Monthly Monitor - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more
  • LME Warehouse Reform 2019 - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Rise as China Spurs Trade Hopes; Bonds Slip: Markets Wrap - more

     Wednesday's market review - Lead slips to 3-week low as Chinese production rises - Lead prices fell on Wednesday as rising stockpiles in China and falling premiums for nearby material on the London Metal Exchange (LME) pointed to a better supplied market.  - more

      Indonesia ore ban to hit China nickel pig iron, stainless steel output – analysts -  A ban on nickel ore exports from Indonesia will sharply reduce top buyer China’s output of stainless steel raw material nickel pig iron (NPI) and have a knock-on effect on production of the corrosion-resistant metal itself, analysts said on Wednesday. - more

      Indonesia investment chief to meet firms about nickel ore exports next week -  Indonesia investment board chief Bahlil Lahadalia said on Thursday that he would hold a meeting with nickel companies next week to discuss the resumption of nickel ore exports. - more

  • Accelerated nickel export ban may causes losses for entrepreneurs - more
  • (Background on temporary halt)  Stopping nickel export spree  - more       
  • Seven companies investigated over alleged nickel export violations - 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 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Tuesday's trading session at $7.38/lb ($16,280/tonne). Indicators at 6:20 am CST today show nickel trading around $.01/lb  lower. Stockpiles of nickel stored in LME licensed warehouse fell by about the same amount it rose on Friday and started the day just under the 66,600 tonne level. Not a lot to talk about today.  Well, maybe there is, and maybe there isn't. Knowing what is actually going on in Indonesia has become a total crap shoot. Yesterday we read the temporary ban on ore shipments in Indonesia was being lifted on a case by case basis. Today, SMM reports no such agreement has been made. Our Indonesia news source appears to be quiet on this situation but we found this in today's Jakarta Post buried in a larger article. "Luhut backed a gentlemen’s agreement between BKPM chairman Bahlil Lahadalia and nickel miners to bring forward the ore export ban from the Jan. 1, 2020 deadline, although the Energy Mineral Resources Ministry, which is the rightful authority to handle such policy, has yet to issue any regulation." But an article from last week in the same paper does refer to the government's 'temporary" ban on exports. So, we will give you what we see on Indonesia, with a warning not to trust anything you read about Indonesia and nickel. Hopefully, when the full ban starts at the end of the year, it will all become far less confusing. Light news day.
  • Average price of LME traded cash nickel so far this month - $7.50/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper scales seven-week peak on trade deal hopes - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Asperam Q3 Results - pdf here
  • New Caledonia to Vote to Split From France in Sept 2020 - more
  • Stocks Drift Amid Mixed Earnings; Treasuries Gain: Markets Wrap - more

     Tuesday's market review - Copper scales seven-week peak on trade deal hopes - Copper climbed to a seven-week high on Tuesday as hopes of a U.S.-China trade deal prompted bearish investors to buy back positions. - more

      China's Jinchuan to add 25,000 T nickel sulphate capacity this month - exec -  Jinchuan Group , China’s top nickel producer, will add 25,000 tonnes of nickel sulphate production capacity by the end of this month, an executive said on Wednesday. - more

      Nickel Is Hot Right Now - The Nickel Boom May Have Just Begun - This article first appeared in Trend Investing on September 5, 2019; therefore all data is as of that date. - more

      Australia calls for miner in Solomons to be treated fairly - The Australian government has called for fair treatment of Australian miner Axiom by Solomon Islands.- more

      Australia's threat to outlaw mining protests highlights industry split: Russell -  The boss of a major mining company last week made a plea to the industry to do more to win the hearts and minds of the broader public. - 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 5

LME nickel prices  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Monday's trading session at $7.43/lb   ($16,380/tonne). Indicators at 6:15 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose slightly yesterday and started today's session just under the 69,500 tonne level. Look to $7.28.lb as major support, that being the low nickel hit on the 22nd of October. That is the lowest nickel has traded at since it "peaked" on September 2nd, after a bullish run that started the final days of 2018.  So far, 2019 has been a story of quarters. Quarter one was bullish, followed by a bearish quarter 2. Quarter 3 was super bullish, and quarter 4 has leaned bearish so far. Word coming from Indonesia that authorities there have started to release ore shipments after they are inspected. This on again, off again, export ban has apparently turned out to be nothing more than all exports were temporarily halted until they are checked for proper paperwork, in an effort to stifle illegal export shipments. Shippers were anxious the shipments were released quickly before a permanent ban is set to begin in eight weeks. Another busy day on the news front so we leave you with them.
  • Average price of LME traded cash nickel so far this month - $7.56/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - LME copper set for 3rd straight daily gain on supply worries - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Corkscrew design pushes architectural boundaries - more
  • Revenge Of The Steel Maker; China’s Internal Tariff War Turns Nasty - more
  • China Wants U.S. to Drop Tariffs on $360 Billion of Imports for Trade Deal - more
  • U.S. Futures Gain With Stocks; Treasuries Retreat: Markets Wrap - more

     Monday's market review - Copper firms on hopes for trade deal, China data - Copper prices extended gains on Monday, boosted by hopes of a resolution to the protracted trade conflict between the United States and China. - more

      Taiwan’s stainless steel HRC imports increase dramatically in Sep - According to the Taiwanese customs statistics, the total imported stainless steel hot-rolled coil (HRC) in September of Taiwan was about 137,000 tons, increasing by 64.17% month on month, and 140% year on year. - more

      China's Jinchuan confident it can fill Indonesia nickel ore void - China’s top nickel producer Jinchuan Group will feel some impact from Indonesia’s ban on ore exports from 2020, but will be able to plug the supply gap, partly by using its own mines, a company executive said on Tuesday.  - more

      Japan’s stainless steel imports & exports both decline in H1, 2019 - According to the official report from Japan, the total imports of stainless steel products to Japan in the first half of this year was about 116,000 tons, decreased by 17.2% year on year. - more

      Sherritt lowers Ni, Co output expectations: Correction - Nickel and cobalt producer Sherritt reduced its 2019 production guidance from its Ambatovy joint venture in Madagascar because of operating setbacks in the third quarter. - more

      EU argues case against Trump's metal tariffs at WTO - The European Union argued on Monday for the withdrawal of tariffs imposed by U.S. President Donald Trump on metal imports in one of the most high-profile and potentially explosive cases to come to the World Trade Organization (WTO). - more

      China's GEM eyes nickel, cobalt output from Indonesia by August 2020 - Chinese battery firm GEM Co Ltd expects to start trial production at its Indonesian nickel and cobalt plant in August 2020, with the first phase of operations up and running by the end of the year, its president said on Tuesday. - more

      Courtesy AISI - In the week ending on November 2, 2019, domestic raw steel production was 1,888,000 net tons while the capability utilization rate was 81.6 percent. Production was 1,887,000 net tons in the week ending November 2, 2018 while the capability utilization then was 80.5 percent. The current week production represents a 0.1 percent increase from the same period in the previous year. Production for the week ending November 2, 2019 is up 1.2 percent from the previous week ending October 26, 2019 when production was 1,866,000 net tons and the rate of capability utilization was 80.7 percent. - more

      Vale CEO dismissed warning before deadly Brazil dam disaster - Vale SA’s top managers received an anonymous email warning about the state of the miner’s dams two weeks before a deadly disaster, a note that prompted the chief executive to pursue the writer’s identity and call the person a “cancer,” a police document shows. - 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 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed yesterday's trading session at $7.61/lb   ($16,775/tonne). Indicators at 6:15 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Friday and started this first full week of November just under the 69,200 tonne level. Nickel closed higher on Friday, but is back down again today, continuing its sideways trend. If you rarely read the articles we post below, we suggest you read at least one - it's marked below as a recommended read. It explains where a lot of the nickel leaving the LME warehouses has been heading. It also discusses what was going on at the LME Week meetings and dinners last week and all the conspiracy theories being floated. What is interesting about this, is these are the people presumably "in the know" and if they are sitting around making up and debating theories on why things are the way they are in the nickel industry, how is the buyer supposed to have any idea? Or how does the downstream stainless steel buyer supposed to make long range plans? The good news in the article is that these big players have no better idea than the little guy, so while trading remains tilted in the favor of the big money, the little guy has an equal opportunity to score big - or lose big. Lot to read below so we leave you to it. It's a new month, and presents new opportunities. Have a great week.
  • Average price of LME traded cash nickel so far this month - $7.76/lb (average for October)
  • Average price for October 2019 - $3.25/lb chromium , $10.79/lb molybdenum , $1.04/lb iron
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - LME aluminum hits over 6-week peak on supply fears - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • PUC Battery Metals Report - pdf here
  • The Australian Mining Review - pdf here
  • Scotiabank Commodity Price Index - pdf here
  • Metals Outlook October 2019 - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Iron ore prices to be 'quite a bit lower' next year; steel to moderate: Citi - more
  • US-China trade accord will require three phases - White House adviser - more
  • Australia's Independence chases more nickel with $216 million bid - more
  • Trade deal hopes boost stocks as recession fears recede  - more

     Yesterday's market review - Copper pushes higher after Chinese data, downside risks remain - Copper clawed higher on Friday after upbeat Chinese manufacturing and U.S. jobs data, but uncertainty about global growth and trade tensions will likely weigh on the market, analysts said. - more

      Fizzing nickel distracts from the LME Week metals gloom: Andy Home - “Near the bottom or worse to come?” The title of CRU Group’s panel discussion last Tuesday neatly sums up the downbeat mood of this year’s London Metal Exchange (LME) Week, the annual gathering of the world’s metals industry. - more

      A Chinese Steel Giant Is Upsetting the Global Nickel Market - Behind one of China’s biggest industrial companies is a husband and wife team that reinvented how to make stainless steel. - more   (recommended read)

      LME to 'compel' off-warrant stocks reporting to boost market transparency -  The London Metal Exchange will attempt to compel the reporting of metal stored off-warrant under agreements with the LME, to increase transparency over metals stocks, the exchange announced Friday. - more

      China's stainless steel crude steel output increases 10.5% in Q1-Q3 - According to the statistics, the Chinese stainless steel crude steel total output in the first nine months of this year was around 22 million tons, increased by 10.5% year on year. - more

      Ministry of ESDM stops issuing nickel ore export recommendation temporarily - As of 29 October 2019, the Ministry of Energy and Mineral Resources (ESDM) stopped issuing recommendations for nickel ore export, while conducting a cargo and smelter inspection. - more
  • Indonesia nickel ore export ban hits supramax rates - more
      Global uncertainty underlies European steel industry vulnerability – Apparent steel consumption fell by 7.7% year-on-year in the second quarter of 2019, after a drop of 1.6% in the first quarter. - more

      Mnangagwa adviser’s company buys biggest Zimbabwe nickel miner - Control of Bindura Nickel Corp, Zimbabwe’s biggest nickel operation, has been sold to a company linked to an adviser of President Emmerson Mnangagwa. - 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
Friday, November 1

LME nickel prices  Abridged Friday Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Thursday's trading session at $7.55/lb ($16,645/tonne). Indicators at 6:45 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and opened today just over the 66,300 tonne level. When October began there was 152,316 tonnes of nickel in LME warehouse storage. The month ended with a very few tonnes over 66,300 tonnes. Cancelled warrants have slipped back to the high 53% range. Nickel continues to trade sideways to slightly lower. It's the beginning of a new month, but ends a week. Have a safe and enjoyable weekend and we invite you back next week.
  • Average price of LME traded cash nickel so far this month - $7.76/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper edges higher after Chinese data, downside risks remain - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • Mineral Industry Surveys - Chromium - August 2019 - pdf here
  • Global molybdenum production and use rise in quarter two of 2019 - more

     Thursday's market review - Copper slips on weak economic data from top consumer China -  Copper prices fell on Thursday after weaker than expected manufacturing data from China heightened concerns about demand for the metal used in power and construction.  - more

       Record Global Stainless Steel Production Forecast for 2019 & 2020 - MEPS forecasts that world crude stainless steel output will reach an all-time high of 52.1 million tonnes, in 2019. - more

      Seven firms accused of illegal nickel exports - The government is moving fast in investigating alleged nickel export irregularities that prompted its high-ranking officials to announce a sudden temporary export ban of the commodity, which plays an important role in a plethora of industrial operations, including the production of electric car batteries and stainless steel. - more

      Japan’s HR stainless steel production decreases y-o-y in H1, 2019 - According to the official report from Japan, the hot-rolled (HR) stainless steel production in this June was 216,000 tons, dropped by 13.3% year on year, and 8% month on month. - more

      Massive mining waste dams could pose deadly risks, say investors - A global inquiry into how mining companies store billions of tonnes of waste in huge dams, launched after a collapse in Brazil killed hundreds, shows about a tenth of the structures have had stability issues, investors said on Thursday.  - more

      Managing industrials’ commodity-price risk - Industrial companies can hedge an ever-increasing number of commodities, but effective hedging requires a comprehensive approach. - more

      Downturn in battery raw materials claims more Australian victims - One Australian project to supply materials to the battery sector was put on hold on Friday and another lost its sole customer as a prolonged downturn in prices amid slowing electric vehicle (EV) sales in China darkened the near-term outlook for demand. - more

      Haunted mines and UFOs - About 1.85 billion years ago, a giant rock collided with the earth, creating what we now know as the Sudbury Basin.  - more


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 7 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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