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


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Monday, November 30

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.47/lb ($16,460/tonne). Indicators at 6:10 am CST today show nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday, but are higher from our last update, starting the day just under the 241,700 tonne level. Nickel closed above the $16,000/tonne level on Wednesday, and then again, Thursday, and again on Friday. A lot of this is because of the strength of the Euro trading against the Dollar, which is trading at its highest since May 2018. The Euro is higher this morning, but at the moment, nickel is retreating, although still trading well above the $16,000/tonne level. Cancelled warrants for LME nickel have been in the 24% range since th 2nd of September. Last Tuesday, it jumped to near 26%, where it remains. Legitimate buying interest or investors buying to make supply look lower than it really is? Time will tell, but after the needle finally moved after so long of looking broke, it was worth a mention. Lot of U.S. economic reports were issued right before the holiday break and they are linked below. It's the first day back and the last day of the month. Stay safe out there and have a great day - and successful week.
  • Average price of LME traded cash nickel so far this month - $7.13/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper hits eight-year high on China data - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2976/lb
  • SHFE Stainless Steel  Futures -  13,160
  • US Economic Indicators:Industrial Production - pdf here
  • US Economic Indicators:Durable Goods Orders& Shipments - pdf here
  • Personal Income and Outlays, October 2020 - more
  • University of Michigan: Consumer Sentiment - more
  • Manufacturing Engineering Magazine - online here
  • Scotiabank Commodities Buoyed by Vaccines, Biden Victory - more
  • University of Michigan: Consumer Sentiment - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper hits 7-1/2-year peak as companies and speculators buy -  Copper stormed to its highest in 7-1/2 years on Friday as speculators joined industrial users in buying metal as they geared up for a recovering economy boosted by COVID-19 vaccines. - more

      Green trend stirs copper and nickel markets as supply tightens - Rising environmental awareness and the global shift to eco-friendly cars and energy sources are raising a question in the market for key metals used in such "green" sectors: Will there be enough supply? - more

      China solves Freeport’s $3 billion problem in Indonesia -  The long drawn-out saga of mining giant Freeport Indonesia’s (PTFI) proposed new copper smelter has taken a new turn with China’s Tsingshan Steel agreeing to build the US$1.8 billion facility at its Weda Bay nickel processing complex in Halmahera, eastern Indonesia. - more

      French overseas minister to organise political round table on sale of Vale nickel plant - The French overseas minister, Sebastien Lecornu, will organise a round table with New Caledonia's political leaders on the sale of the Vale nickel plant. - more

      Why billionaire Andrew Forrest's wife Nicola wears her son's decade-old hand-me-down RM Williams boots despite OWNING the company - and still washes and reuses ziplock bags - more

      On the Rebound: ID's Big 50 COVID Update - Here’s what ID’s Big 50 List distributors have been saying lately about pandemic's ongoing business impacts. - more

  • ID's November/December 2020 Digital Edition - online here

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Slip After Record Rally; Oil Retreats: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, November 25
    Thursday is Thanksgiving in the U.S. and our next update will be Monday, November 30th. We thank you for being a reader and want to say a special thank you to our monthly sponsors. Without them, there would be no site. In these trying times, we are truly thankful you choice to share a part of your day with us. We hope your Thanksgiving is a cherished memory and a safe experience.

We will be contacting those who responded to our request for sponsors in 2021 shortly to work out the details for your add. We still have spaces available for interested parties. Thank you.

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.36/lb ($16,235/tonne). Indicators at 6:00 am CST today show nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouse rose on Tuesday and started today's trading session just under the 240,400 tonne level. Nickel closed above the $16,000/ tonne level yesterday, for the first time since October 20th, and its highest close since early November 2019. So far this morning, it has been in a slow retreat, but for now, it is holding above the $16,000/tonne level. According to the business analysts, world markets reacted positively yesterday to the vaccine news, that appears to be all positive so far, and also the non concession, but expressed willingness by the Trump administration to work with the incoming Biden administration. U.S. stainless steel surcharges for December are out (see here) and both 304 and 316 are higher than November. This is our final update for the week, as it's Thanksgiving tomorrow, and for many establishments, a four day weekend.  We will return on Monday, just in time to end the month with you. Thank you for being a reader, and a special thanks to those who sponsor the site monthly. Stay safe out there, and have a great day, and for our American readers, a very Happy Thanksgiving.
  • Average price of LME traded cash nickel so far this month - $7.12/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper near 7-year high as vaccine, U.S. political stability boost sentiment - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2988
  • SHFE Stainless Steel  Futures -  13,145
  • ATA Truck Tonnage Index - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Vaccines, China demand and dollar drive copper to 30-month peak - Copper prices hit an almost 30-month high on Tuesday, with fresh buying triggered by optimism over COVID-19 vaccines, expected robust demand in top consumer China and a weaker dollar. - more

       October 2020 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 161.9 million tonnes (Mt) in October 2020, a 7.0% increase compared to October 2019. - more

      Results dip for stainless steel maker’s UK arm - The results of the Darlaston-based UK arm of a stainless steel manufacturing conglomerate headquartered in Spain have dipped during its most recent financial year, new documents have revealed. - more

      Steel Imports Down 22.8% Year-to-Date Through October - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 1,502,000 net tons (NT) of steel in October 2020, including 1,244,000 net tons (NT) of finished steel (up 19.6% and 6.6%, respectively, vs. September final data). - more

    China: Plug-In Car Sales In October 2020 Approach All-Time Highs - Things improved significantly in China and we are not expecting anything below 150,000 a month in the last two months of the year.  - more

      Keep the Mask: A Vaccine Won't End the US Crisis Right Away - The first, limited shipments of the vaccine would mark just the beginning of what could be a long and messy road toward the end of the pandemic. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Stock Rally Stalls Before Key Economic Data: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, November 24
We will be contacting those who responded to our request for sponsors in 2021 shortly to work out the details for your add. We still have spaces available for interested parties. Thank you.

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.24/lb ($15,955/tonne). Indicators at 6:10 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today's session just under the 240,200 tonne level. Nickel has yet to close above the $16,000/tonne level this month, but it has spent time on multiple occasions trading above that level. It spent much of yesterday above, and has returned this morning. The Euro is off session highs, but lower than yesterday's peak, and it appears it is hitting a line of resistance that it has peaked at multiple times the past week. A stronger Euro is a positive for base metals trading, so for now, we are at a positive draw. A few weeks ago we advised you of a shortage in rubber gloves on the horizon. The news this morning will not help that situation (Reuters - Top Glove Corp shares slumped on Tuesday after Malaysia said it would close some factories of the world’s biggest rubber glove maker as over 2,000 of its workers had tested positive for COVID-19.). If you use rubber gloves in your operation, consider protecting your supply - and inventory. It's Tuesday, the day of the week that gets little love in social media. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.11/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper gains ground on virus vaccine, demand hopes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3012/lb
  • SHFE Stainless Steel  Futures -  13,360

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper falls from 29-month high but vaccine good news keeps coming - Copper prices slipped on Monday from Friday’s 29-month high as the dollar strengthened though coronavirus vaccine breakthroughs and strong U.S. factory data pointed to a positive outlook for the global economy and metals demand. - more

      EU steel buyers prepare for further price increases - European coil prices continued their meteoric rise, in November. The MEPS Europe Average Hot Rolled Coil transaction value has climbed by more than 25 percent since June of this year. - more

      Caledonian Union insists Paris was in loop over nickel plant bids - The leader of the pro-independence Caledonian Union has rejected last week's claim that Paris was kept out of the loop about the bidding for the Vale nickel plant. - more

      Nickel Mines to boost pig iron output with $670m acquisition - Nickel Mines is set to expand its foothold in Indonesia by acquiring an interest in the Angel Nickel development project for a total consideration of $US490 million ($671.6 million). - more

      Courtesy AISI - In the week ending on November 21, 2020, domestic raw steel production was 1,582,000 net tons while the capability utilization rate was 71.5 percent. Production was 1,823,000 net tons in the week ending November 21, 2019 while the capability utilization then was 78.8 percent. The current week production represents a 13.2 percent decrease from the same period in the previous year. Production for the week ending November 21, 2020 is up 0.1 percent from the previous week ending November 14, 2020 when production was 1,580,000 net tons and the rate of capability utilization was 71.4 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Energy Leads Global Stocks Higher; Dollar Weakens: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, November 23
We will be contacting those who responded to our request for sponsors in 2021 shortly to work out the details for your add. We still have spaces available for interested parties. Thank you.

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.21/lb ($15,900/tonne). Indicators at 6:10 am CST today show nickel trading around $.09/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Friday and ended the week just shy of the 240,700 tonne level. Nickel is trading higher this morning, and over the $16,000 tonne level, thanks, at least in part, to a surging Euro. At the moment, the Euro is trading at its highest this month, and nickel traders are taking advantage. Other than that, business media keeps touting vaccine news as stimulating traders. News of a shot that can save the world becoming available to the general public as early as 'next spring' has kind of lost its positivity factor in our opinion. Show us photo's of lines of people waiting to get their shot, like we are seeing now of people waiting to be tested or waiting for food.... then we will get impressed. In the mean time, its Thanksgiving week here in the U.S., and it will be a short week for the site. We will post morning updates thru Wednesday, and then see you again next Monday. It's a year when reviewing the things we are thankful for, we seem to do it under a dark cloud. But for those of us who are thankfully still vertical, it's Monday and new opportunities await those who actively seek them. Stay safe out there, and have a great week!
  • Average price of LME traded cash nickel so far this month - $7.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper slips from near 2-1/2-yr high as rising cases stall vaccine rally - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3009
  • SHFE Stainless Steel  Futures -  13,310

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper powers to 29-month peak as speculators pile in - Copper prices surged to their highest in 29 months on Friday as speculators extended a buying spree on continued strong demand in top consumer China and potential supply disruptions. - more

      New Caledonia's SLN gets new CEO - New Caledonia's SLN nickel company has a new CEO as a restructure of its operations is hoped to stave off insolvency. - more

  • ENGIE Impact sets Vale New Caledonia on a zero carbon roadmap - more
    How do cobalt and nickel stack up in race to dominate electric vehicle battery market? - There is agreement that battery metals of all stripes will benefit from the adoption of electric vehicles (EVs). - more

       Australia's commodity investment surges, gold and battery metals lead - For the first year in seven the value of commodity projects being undertaken in Australia increased, as the natural resources sector shrugged off the economic hit from the novel coronavirus pandemic. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Stocks Rally With Oil on Vaccine Progress: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Friday, November 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.14/lb ($15,735/tonne). Indicators at 6:15 am CST today show nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and start the final work day of the week, just under the 239,700 tonne level. Nickel is up this morning on a stronger Euro and an overall optimism that is reflected on a mostly green commodity board. After retreating the last few sessions, nickel is back near the $16,000 tonne level, although the market appears to be in a holding pattern and awaiting the see where American traders might push the price. For nickel and stainless steel, it has been an uneventful week. Nickel remains just south of $16,000/tonne, as it was most of last week. Stainless price futures in China took a hit earlier in the week, implying a slowdown in demand there, but have recovered the last two sessions. Steel production in most of the world is lower due to the economic impact of the pandemic, but China reports it may produce a record amount of stainless steel this year. And LME nickel stockpiles are higher. It's Friday and no matter how much you love your job, we all need a couple days off to re-charge the batteries. Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $7.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper powers to 29-month peak as speculators pile in - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3009
  • SHFE Stainless Steel  Futures -  13,190
  • Mine Magazine December 2020 - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper slips as demand angst resurfaces - Copper prices slipped on Thursday as funds took profits on long positions, the dollar rose and sentiment turned negative on concerns about soaring coronavirus cases and stricter lockdowns, which could hit growth and demand. - more

      Eramet Says Sln nickel unit names Guillaume Verschaeve as CEO - more

      DNR, NMW reach agreement to reconsider non-ferrous mining rules - Decision could eventually resolve lawsuit filed in June, complicate plans for Twin Metals copper-nickel mine - more

      Meteorite made man a millionaire, why are meteorites more valuable than gold? - A precious treasure fell from the sky at the home of 33-year-old Joshua Hutagalung in Indonesia and became rich. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Europe Stocks Advance as U.S. Futures Pare Decline: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Vaccine Poses Immense, Unprecedented Distribution Challenges - more

Thursday, November 19
We will be contacting those who responded to our request for sponsors in 2021 shortly to work out the details for your add. We still have spaces available for interested parties. Thank you.

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.16/lb ($15,790/tonne). Indicators at 6:10 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today's session just over the 239,300 tonne level. Nickel slipped a little yesterday, closing below the $15,800/tonne level for the first time since nickel's price bump the first week of this month. Still not seeing any evidence of a rush for the exits, and it appears the Dollar/Euro movements are once again guiding daily direction twists. With the U.S. crossing a quarter million deaths earlier this week, and new case numbers growing at a staggering rate, we share a little history with you this morning. President elect Abraham Lincoln in 1861 told a crowd of Illinois well wishers as he was leaving on a train for a deeply divided Washington D.C. - “Let us believe, as some poet has expressed it, 'Behind the cloud the sun is still shining.' ” And with that, we wish you a safe and profitable day!
  • Average price of LME traded cash nickel so far this month - $7.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - China's new copper contract falls, coronavirus fears weigh on LME - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2990
  • SHFE Stainless Steel  Futures -  13,110
  • Service Firms Report Weaker Labor Market than Manufacturers - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Zinc leaps on mine shutdown, tightening LME market - Zinc prices rose on Wednesday to an 18-month high as a mine shutdown in South Africa and signs of tightening short term supply added to expectations of strong demand from top consumer China. - more

      EU Drops Anti Dumping Investigation on Indonesian Stainless Steel -  The European Commission has terminated an anti-dumping probe into hot-rolled stainless steel from Indonesia after the European steel lobby withdrew their complaints, the Indonesian Trade Ministry said on Tuesday. - more

      January to September 2020 Metals Balances - Please note that the impact of the Covid 19 pandemic has had a dramatic effect on both the supply and demand for metals worldwide. - more

      Supreme Court reverses army takeover of RioZim chrome mine -  Listed mining company RioZim has won a Supreme Court battle with Zimbabwe’s military after one of its mines was forcibly taken over through a ministerial decree. - more

      Distributor Pandemic Index Continues Up-and-Down Pattern With Modest Contraction - Despite consistent gains in other economic indicators in the manufacturing space, Indian River Consulting Group's weekly Distributor Pandemic Revenue Index (PRI) continues to flip between solid gains and modest losses, with the latest reading dropping into the negative. - more

      ‘Peak Season’ Has Been Here for Months - COVID-19 has challenged companies’ supply, materials handling and delivery networks, but the holiday online sales surge will be an even greater test. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Slide for Third Day on Covid Restrictions: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, November 18

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.23/lb ($15,935/tonne). Indicators at 6:15 am CST today show nickel trading around $.06/lb  lower. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Tuesday and remain just under the 239,000 tonne level. Nickel  traders appear to be content with leaving nickel just under the $16,000 tonne level for the time being. Maybe they are waiting for some positive demand news, or negative supply news, to boost the price over that level, but we are skeptical, as supply and demand means far less than it use too, at least on short term movements. LME nickel stockpiles started the year with 150,690 tonnes.  Today, they are just under 239,000 tonnes.  Nearly all of the gain came in the first two months, before covid became a major headline. On Feb 28th, stockpile numbers stood at 235,428 tonnes, and nickel was trading for $5.55/lb. While nickel stockpile numbers have remained about the same for the last 8-1/2 months, nickel prices have risen nearly $2/lb. It's hump day and the news remains light, but we found numerous reports from yesterday. We post the original reports, for those who want to dig beyond what you might have heard in the news, or read elsewhere. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.09/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Report

  • Reuters metals morning - Copper inches lower on growing virus worries; aluminium shines - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2999
  • SHFE Stainless Steel  Futures -  12,975
  • FRED Manufacturing Sales - more
  • FRED Truck Tonnage - more
  • US Economic Indicators:Manufacturing Production &Capacity - pdf here
  • US Economic Indicators:Industrial Production - pdf here
  • Manufacturing & Trade Inventories & Sales - pdf here
  • Personal Income by County and Metropolitan Area, 2019 - more
  • Fastener Distributor Index October 2020 - pdf here
  • IMOA Adding Value for Steel Makers - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Aluminium at highest in nearly two years on China demand -  Aluminum prices advanced to their highest in nearly two years on Tuesday as speculators bought on expectations of further tightness in China, which would be only partly offset by higher output in the top producer and consumer. - more

      China’s stainless crude steel output declines 6% y-o-y in H1, 2020 - According to the official statistic from China, the total output of stainless crude steel in the first half of this year was around 13 million tons, decreased by 6% year on year. - more

      Finland: the rise of lithium-ion batteries divides - In Finland, the Sotkamo mine is located 300 km from the Arctic Circle. On this 60 km2 site, nickel is extracted. - more

      Auroch sounds the Horn on Leinster nickel discovery - Auroch Minerals has gone two for two, with diamond drilling from the company’s second hole on the Horn nickel discovery nailing more than 7m of massive sulphides. - more

      Metals testing for aerospace under the microscope - The microstructure of a material determines many of its most important properties, such as its longevity and its response to stress. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Edge Higher; Bitcoin Tops $18,000: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, November 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.21/lb ($15,900/tonne). Indicators at 6:15 am CST today show nickel trading around $.05/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just under the 239,000 tonne level. While the Euro is up this morning, nickel appears to be exhausted after making numerous unsuccessful pushes over the $16,000/tonne level, and appears to be showing signs of a retreat. Yesterday's morning confusion over why Shanghai nickel jumped, ended with nickel closing Monday exactly where it did Friday. Having been called on their bluff, Shanghai futures dropped sharply today. Reuters is crediting the fall in Shanghai stainless steel futures (see under Daily Reports) as a reflection of slowing stainless demand in China. Since its hard to know exactly what is going on in China, business media is forced to look for clues anywhere they can. On the topic that no one wants to talk about anymore, but continues to mandate how we live our lives, .... no not politics, covid is killing an average of nearly 8,900 people a day, of whom 1,170 of them are Americans. A second U.S. vaccine candidate announced positive results yesterday, so we are approaching the dawn of a new day quickly. It's Tuesday and life has offered those of us still vertical, a fresh day of opportunities and challenges. How we deal with them will either define us, prove to be a learning experience for the future, or plant the seeds of future success. So stay safe, burn up those phones, and have a great and successful day.
  • Average price of LME traded cash nickel so far this month - $7.09/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Nickel hits 1-week low on weak stainless steel; copper slips - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2973
  • SHFE Stainless Steel  Futures -  12,935
  • U.S. Economy in a Snapshot - pdf here
  • NAB China's Economy at a Glance - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper hits 2-1/2 year high on upbeat China data - Copper powered to a 29-month peak on Monday after higher than expected factory output in China reinforced views of solid demand from the world’s top consumer of industrial metals. - more

      China stainless to bear brunt of South Africa's chrome ore export tax - China's stainless steel mills face higher costs for essential ingredient ferrochrome if, as expected, South Africa goes ahead with proposals to impose taxes on exports of chrome ore to help protect its smelting industry. - more

      Launch of Metal Expert Witness Litigation Support Service - MCI announces launch of expert witness litigation support service for clients involved in metal and mining sector legal disputes. - more

      Courtesy AISI - In the week ending on November 14, 2020, domestic raw steel production was 1,580,000 net tons while the capability utilization rate was 71.4 percent. Production was 1,823,000 net tons in the week ending November 14, 2019 while the capability utilization then was 78.8 percent. The current week production represents a 13.3 percent decrease from the same period in the previous year. Production for the week ending November 14, 2020 is up 0.4 percent from the previous week ending November 7, 2020 when production was 1,573,000 net tons and the rate of capability utilization was 71.1 percent. - more

      Stainless Steel Did Not Kill The Exhaust Repair - In the early 1990s, exhaust systems started to shift from mild or aluminized steel to 409 stainless steel. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Stock Rally Pauses After Vaccine Optimism: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Fed How Has COVID-19 Affected Banking System Vulnerability? - more

Monday, November 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.21/lb ($15,900/tonne). Indicators at 6:15 am CST today show nickel trading around $.10/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday and started the week, just under the 230,100 tonne level. If that sounds familiar, that is about where we started the month, so for the first half of November, nickel stockpiles are 50 tonnes higher than they were on the 1st of the month. After a few days testing the $16,000/tonne level without much enthusiasm or luck, nickel traders are taking another shot this morning. This appears to have been triggered in overnight trading, possibly by Asian traders, and so far this morning, traders on this side of the planet do not appear to know how to react and have done little with the price since. European trading houses could be waiting to see what American investors do. Either way, at the moment, nickel is over the $16,000 tonne level, and holding, but showing little enthusiasm for more. The Euro was rising in the morning and falling in the afternoon much of last week, and did little for the week. That continues this morning. We posted a link last week but thought we would post another for those nickel miners interested in possibly working with Tesla. Indonesia is pulling out the big guns and government officials are representing that 'countries' bid. The weekend was light on industry news and we posted what we could. Welcome to the second half of the month, and the second half of the final quarter of 2020. Ah yes, 2020. The year the CDC stole Thanksgiving. Oh well. Stay safe out there and have a great week.
  • Average price of LME traded cash nickel so far this month - $7.07/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper soars to near 2-1/2-year high on robust China demand - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2916
  • SHFE Stainless Steel  Futures -  13,750
  • Producer Price Index by Commodity: Steel Wire, Stainless Steel - more
  • Producer Price Index by Commodity: Corrugated Paperboard in Sheets and Rolls - more
  •  Producer Price Index by Industry: Corrugated Shipping Containers for Paper and Allied Products - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Aluminium hits highest in nearly 20 months on speculative buying - Aluminum prices hit their highest in nearly 20 months on Friday as speculators pushed prices higher due to continued optimism over a COVID-19 vaccine and strong demand in China. - more

      Russia’s stainless steel exports increase in first-3Q of 2020 - According to the market news, the total exports of stainless steel products from Russia in the first 9 months of this year has increased by 101.7% year on year, reached to 985,000 tons. - more

      Indonesia to Meet Tesla executives as They Aim to Become the World’s Biggest Producer of Electric Vehicle Batteries - Indonesian President Joko Widodo said he will send a high-level team next week to meet with top executives of U.S. automaker Tesla as the Southeast Asian country aims to become the world’s biggest producer of electric vehicle batteries. - more

      China Oct aluminum output hits monthly record high on smelter ramp-ups - (excerpt) Meanwhile, China’s production of 10 nonferrous metals – including copper, aluminum, lead, zinc and nickel – in October rose 9% year-on-year and 2.4% from September to 5.45 million tonnes, also setting a record monthly high. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • La Niņa continues; predicted to last through first quarter 2021 - more
  • Stocks Start Week in Risk-On Mood; Dollar Retreats: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Friday, November 13 - in 2020 (this could be bad)

  It's that time again where we offer advertising opportunities to sponsors for 2021. This year, besides the (#1) 728 X 90 banner space we offer across the top for $300 a month, we are offering (#2)  smaller adds in the left column starting at $75/month for a 120 X 200 add, with placement order to be determined. If you are interested in sponsoring any of these adds for 2021, please contact us at info at estainlesssteel.com and please include or use the words stainless steel in the subject line or it may get accidentally deleted as spam. Thank you for your support. (For those who have responded, please be patient as it will take some days for us to get back to you. Thank you!)

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.23/lb ($15,940/tonne). Indicators at 6:30 am CST today show nickel trading around $.02/lb  lower. Stockpiles of nickel stored in LME approved warehouses rose slightly on Thursday and started today's session just under the 239,200 tonne level. Nickel tested the $16,000 tonne level for a second consecutive day yesterday, but was unable to hold above the level. In overnight trading, nickel fell, finding support at the $12,750/tonne level, and appears to be preparing for another possible attempt at $16,000/tonne. Euro keeps sneaking up, which is adding momentum, but so far, the level is resisting all attempts to breech it. Brexit should start making the news again, as the year end nears and the final break from the EU is scheduled to take place. It's a divorce that neither side appears to really want, or both are afraid what might happen when and if it ever takes place. Until then, covid remains the lead story now that the election is over. The news is nearly all bad and if you watch the mainstream media, you know all about it. The good news is it is Friday, with the weekend just around the corner. We are half way thru the month, and half way thru the final quarter of 2020. Stay safe out there, and have a relaxing weekend.
  • Average price of LME traded cash nickel so far this month - $7.06/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper steady as virus concerns temper vaccine optimism - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2916
  • SHFE Stainless Steel  Futures -  13,750

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper prices rise, clinging to vaccine hopes - Copper prices were boosted on Thursday by more progress on a possible COVID-19 vaccine, the delivery of which could revive the global economy and galvanise metals demand. - more

      European Commission terminates CVD investigation on HR stainless steel imports from China & Indonesia - The European Commission (EC) announced that it has terminated the countervailing duty (CVD) investigation on some hot-rolled stainless steel sheets and coils imported from China and Indonesia.  - more

      China’s stainless steel exports reduce in Q1-Q3 y-o-y - According to statistics, China’s stainless steel exports totaled around 2.41 million tons in the first three quarters of this year, dropping by more than 11% compared to the same period a year ago. - more

      Indonesia to woo Tesla investment in push to become battery superpower -  Indonesian President Joko Widodo said he will send a high-level team next week to meet with top executives of U.S. automaker Tesla as the Southeast Asian country aims to become the world’s biggest producer of electric vehicle batteries. - more

      Greece to kick off sales of nickel producer Larco by year-end - Greece will kick off the sale of assets owned by Larco, one of the world's biggest nickel producers, later this month, its energy Ministry said on Thursday. - more

      Extremely hard austenitic stainless steel developed by Kolibri Metals - Kolibri Metals GmbH, Amtzell, Germany, has developed a new stainless steel powder for metal Additive Manufacturing that is reported to offer a hardness of more than 40 HRC.  - more

      PolyMet, Line 3 can ease Minnesota's budget woes - Minnesota Gov. Tim Walz recently spoke of his concern regarding Minnesota’s worst budget deficit in a decade: $2.3 billion in the current budget and potentially a $5 billion deficit in the following two years.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China-Anchored Free-Trade Zone, World’s Biggest, Nearly Done - more
  • U.S. Index Futures Rise as Europe Stocks Mixed: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Costco tightens face-mask rules, and customers with medical conditions are no longer exempt - more

Thursday, November 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.24/lb ($15,965/tonne). Indicators at 6:15 am CST today show nickel trading around $.01/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just under the 239,200 tonne level. Nickel traded over the $16,000/tonne level yesterday, for the first time since mid October. It closed just shy of that level, and has retreated a little more this morning. The Euro has recently bounced off session lows and we have yet to see this reflected in nickel's trading, so this could potentially push nickel above this psychological 'and' technical level again today. For those who watch technical signals as a guide to trading patterns, we suspect the $16,000/tonne level could be a strong test of resistance. Signals remain positive, at least going into the test. Once again, there is little to talk about. There is a mining company in Australia by the name of Azure that, depending on which article you read, has either received some positive test results for sulphide nickel .... or hit the mother lode. In this country, many are suffering from 'post election stress disorder' ..... or asking why the 'happiest place on earth' is still closed (the original in California still is). It's Thursday and we are one day closer to the weekend. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.04/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai aluminium hits 3-year high on low China inventories, demand pick-up - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2924
  • SHFE Stainless Steel  Futures - 13,750
  • Australian Mining Review  Nov issue - online here
  • ATA Truck Tonnage Index - pdf here
  • NAB Minerals & Energy Outlook - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper slides as vaccine optimism fades, dollar climbs - Copper prices fell on Wednesday as worries about growth and demand resurfaced on fading optimism about vaccines to help end the COVID-19 crisis, while a higher dollar reinforced negative sentiment. - more

      Stainless outlook improves amid rising nickel prices - Higher-than-expected demand anticipated next year but trade could be affected by regulators’ concerns over Indonesian ‘dumping’. - more

      Bet Big on Industrial Metal ETFs on Vaccine Optimism - Wall Street has been on a rallying mode in recent sessions on news that a Pfizer PFE and BioNTech (BNTX) vaccine candidate was more than 90% effective in avoiding COVID-19 in its clinical trial. - more

      Azure Minerals discovers nickel-copper sulphides at Andover - Azure Minerals has received more outstanding results from its majority-owned Andover Nickel-Copper Project in WA - more

      Building Supply Chain Resiliency: 6 Signs You Should Throw Out A Profitable Business Model - How to go from risk-blind to risk-resilient by knowing what can tear your supply chain apart - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Equities Rally Slows as Treasuries Advance: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, November 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.22/lb ($15,915/tonne). Indicators at 6:15 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today around the 239,400 tonne level. Nickel continues to slowly slide back, and again this morning, it appears to be moving in concert with the Euro, which after hitting a high early Monday, has been in a slow retreat since. Not a lot worth commenting on today, so we leave you with the news below. Stay safe and have a great hump day.
  • Average price of LME traded cash nickel so far this month - $7.03/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Vaccine hopes help propel copper towards 29-month peak - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2942
  • SHFE Stainless Steel  Futures -  13,750
  • BMO Booster Shot for Commodities - pdf here
  • Outdoor Recreation Satellite Account, U.S. and States, 2019 - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's review - Vaccine hopes hold copper near 29-month highs - Copper prices on Tuesday edged back towards 29-month highs as encouraging prospects of an effective coronavirus vaccine bolstered hopes for economic recovery and copper demand. - more

      Taiwan's stainless steel scrap price hikes due to limited supply - The reduction of scrap sources and increasing scrap costs made Taiwan's domestic stainless steel scrap prices rise along with rising nickel prices and finished product prices. - more

      Ukraine Increase Imports of Nickel Ores by 21.6% - Ukraine, in January-October this year, increased imports of nickel ores and concentrate in physical terms by 21.6% compared to the same period last year – up to 1,325,721 tonnes. - more

      Rio Tinto, Bluejay to jointly explore for nickel in Finland - Explorer and developer Bluejay Mining inked on Tuesday a joint venture and earn-in agreement with Rio Tinto to advance the Enonkoski nickel project in Finland. - more

      Major shake-up at BNC - Bindura Nickel Corporation managing director Batirai Manhando will leave the resources firm at the end of this month, seven years into the role that saw him manage shareholder wrangles and oversee a complex care and maintenance operation. - more

      September Steel Shipments Down 14.2% from September 2020 - The American Iron and Steel Institute (AISI) reported today that for the month of September 2020, U.S. steel mills shipped 6,662,904 net tons, a 2.0 percent increase from the 6,532,652 net tons shipped in the previous month, August 2020, and a 14.2 percent decrease from the 7,767,310 net tons shipped in September 2019. - more

      Driving Competitive Advantage in the Supply Chain - Organizations are starting to rethink how they look at their supply chains, driven by disruptions in recent years, culminating in the coronavirus (COVID-19) pandemic. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Europe Defensive Stocks Rise; China Tech Retreats: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

How close is a Covid-19 vaccine after the Pfizer breakthrough - and who will get it first? - more

Tuesday, November 10
   It's that time again where we offer advertising opportunities to sponsors for 2021. This year, besides the (#1) 728 X 90 banner space we offer across the top for $300 a month, we are offering (#2)  smaller adds in the left column starting at $75/month for a 120 X 200 add, with placement order to be determined. If you are interested in sponsoring any of these adds for 2021, please contact us at info at estainlesssteel.com and please include or use the words stainless steel in the subject line or it may get accidentally deleted as spam. Thank you for your support. (For those who have responded, please be patient as it will take some days for us to get back to you. Thank you!)

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.19/lb ($15,847/tonne). Indicators at 6:10 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouse rose on Monday and started today's session just under the 239,300 tonne level. The Euro is off yesterday's highs, and base metals in general and nickel in particular, appear to be shadowing. The markets were way up early yesterday and right after our post, the positive news came out from Pfizer about its vaccine test, which kept the markets up for the day. Today, the post election bump has calmed down, and the vaccine news has been tempered with the news that it could still be March, at the very soonest, before non essential members of the public could see their first shot. News has been on the light side the last few days, but we expect a rush of reports either later this week, or early next. Stay safe and have a great Tuesday.
  • Average price of LME traded cash nickel so far this month - $7.01/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper eases as virus worries outweigh vaccine hopes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2924/lb
  • SHFE Stainless Steel  Futures -  13,750

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Vaccine euphoria pushes copper to 29-month high - Copper hit its highest in more than two years on Monday on news of progress on a coronavirus vaccine and investor optimism over global trade after Joe Biden’s U.S. election victory. - more

      China's copper import boom leaves other metals cold: Andy Home - China’s record-breaking copper import boom rolls on. Imports of unwrought copper were a whopping 618,000 tonnes in October, bringing the year-to-date total to 5.6 million tonnes, already a record annual high with two months to spare. - more

      Fastener Distributor Index Grows on Gains in Sales, Employment, Deliveries - The FDI's metric for measuring six-month market outlook surged to its highest mark since January 2018. - more

  • US Metalworking Orders Jump Month-to-Month; Still Well Below 2019 - more
      Courtesy AISI - In the week ending on November 7, 2020, domestic raw steel production was 1,573,000 net tons while the capability utilization rate was 71.1 percent. Production was 1,823,000 net tons in the week ending November 7, 2019 while the capability utilization then was 78.8 percent. The current week production represents a 13.7 percent decrease from the same period in the previous year. Production for the week ending November 7, 2020 is up 1.0 percent from the previous week ending October 31, 2020 when production was 1,557,000 net tons and the rate of capability utilization was 70.4 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Fed Warns Assets Face Big Declines If Virus Goes Unchecked - more
  • Global Stock Rally Tempers After Vaccine Euphoria: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, November 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed yesterday's trading session at $6.97/lb ($15,375/tonne). Indicators at 6:20 am CST today show nickel trading around $.24/lb  higher. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Friday and started this week just over the 238,800 tonne level. The Euro is trading at 10 week highs, and nickel traders are enjoying the boost. And today, that is a heck of a boost. At the rate it is going, nickel could be toying with the $16,000/tonne level in the very near future. Then again, this could be merely another trader's trap. The election of a new U.S. president is giving markets worldwide a boost today, and that euphoria could be more psychological, than reality. As we wrote last Friday, covid cases in the U.S. passed the 10 million mark, with the seven day average of new daily cases over the 110,000 level. The former record was just over 70,000 on July 25th, so we have been setting new records every day since October 27th. The daily death average for the U.S. was up to 979 yesterday. While most everyone is bor-vid, a similar number of people are angry. They feel helpless, their actions held hostage to something they can not see, nor control. While we all have our own opinions on why the election went the way it did, we feel American voters decided it was time to put an administration in the White House that will start taking the virus seriously. Since the virus has become as much a political hot button, as it is a silent killer, it is doubtful a new attitude in the White House will accomplish much this late in the game. But for markets, the chances of a new economic stimulus package look closer, so at least for now, they appear to be pleased.  As our current President is learning today, the markets can be fickle. The election, for the most part, is behind us. It's time to get back to business, and put the 'difficulties' of the past few weeks behind us. Stay safe out there and have a great week.  (note - we made some changes to the new add placements for 2021, as there was more interest in the small add on the side, than the larger side add. No change to the top add.)
  • Average price of LME traded cash nickel so far this month - $6.97/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - LME copper lingers around $7,000 as Biden's win weakens dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2924/lb
  • SHFE Stainless Steel  Futures -  13,775
  • United States Imports of Nickel - more
  • Wholesale Trade Statistics for September 2020 - more
  • US Exports of Steel Mill Products - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Yesterday's market review - Copper pushes towards two-year highs as dollar falls further - Copper prices rose for a fifth day on Friday as Joe Biden took a narrow U.S. election lead over President Donald Trump in the battleground states of Pennsylvania and Georgia and the dollar continued to weaken. - more

      Russian stainless steel production grows in Jan-Sep y-o-y despite COVID-19 epidemic - Despite the COVID-19 epidemic, Russian stainless steel output showed a positive increase in the first nine months of this year. - more

      Vale protests denounced by New Caledonia anti-independence camp - New Caledonia’s anti-independence camp has condemned the road block set up by Kanaks near the Vale nickel plant at Goro, which is for sale. - more

      Fed Signals Readiness to Do More for Economy as Virus Rages -  The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signaled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic. - more

      Here's How AI Powers Amazon’s Success - Benj Cohen summarizes how Amazon utilizes three AI strategies to account for around $80 billion of its sales. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Jump to All-Time High on Biden Optimism: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

The Science of Superspreading - more

Friday, November 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.06/lb ($15,570/tonne). Indicators at 6:40 am CST today show nickel trading around $.01/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started today's session just over the 238,800 tonne level. The Euro has recently turned positive against the U.S. Dollar, so we wouldn't be surprised to see nickel turn positive as well. Nickel has trended higher this week, but we suspect it has more to do with the Euro climbing against the U.S. Dollar, due to the tightness and yet undetermined outcome of the U.S. Presidential elections. It appears the world covid count will hit 50 million sometime on Saturday, while the U.S. will likely see its 10 millionth diagnosed case today. The seven day trend average rose over the 96,000 new cases yesterday, and the daily death average rose over the 900 level. In our what the heck segment, the United States finally thought one of the hurricanes that formed in the Atlantic this year, might actually miss us, when it slammed into Central America a few days ago. But no. Like a drunk driver, it is now backing up into the Caribbean, and weather forecasters, think it might strengthen and hit .... well just about everybody. Cuba, Florida, maybe Louisiana .... again. Have you got your "I survived 2020" bumper sticker yet? It is a little early, we suppose. Thank you to those who have contacted us about supporting the site with banners and we will be contacting you over the next week. We still have space available so please let us know if you would be interested in sponsoring the site during 2021. It's the weekend so stay safe - seriously - we were wishing our readers a safe weekend well before covid-19 was even a word - due to the risk of traffic crashes. A whole lot more people are dieing from covid than in traffic crashes these days, but the risk of both is still there. So we wish you a safe and relaxing weekend and invite you to stop by again on Monday.
  • Average price of LME traded cash nickel so far this month - $6.95/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper rises in thin trade as investors eye U.S. election results - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2924/lb
  • SHFE Stainless Steel  Futures -  13,775

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper climbs as dollar sinks, share markets rally -  Copper prices edged higher on Thursday as the dollar slid and investors looked forward to more central bank stimulus, with a wave of fresh lockdowns threatening economic growth. - more

      China stainless steel output to top 30 mln tonnes in 2020 - industry body - China's stainless steel production is expected to rise by 2.1% this year to more than 30 million tonnes amid robust demand for the corrosion-resistant metal, an official from an industry body said on Thursday. - more

      Up to 30% of chrome ore exports to China can be displaced if export tax proceeds, says consultancy - Further to a statement released earlier this week, chrome producer organisation ChromeSA has explained the evidential rationale behind its dismay at Cabinet’s proposed export tax on chrome ore. - more

      Outokumpu's Q3 stainless steel sales slump, will limit capex, cut jobs - Major Nordic-based stainless steel and ferrochrome producer Outokumpu said Nov. 5 it expects the COVID-19 pandemic to have a "significant impact" on the stainless market throughout 2020.  - more  (pdf report here)

       U.S. imports of Stainless steel wire decreased 28.23 percent from $154.59 million to $110.94 million through the first nine months of 2020 ..... - more

  • U.S. exports of Stainless steel wire decreased 12.67 percent from $103.53 million to $90.4 million through the first nine months of 2020 ..... - more
  • U.S. imports of Misc. stainless steel bars, rods decreased 30.12 percent from $420.49 million to $293.86 million through the first nine months of 2020 ...... - more
  • U.S. exports of Misc. stainless steel bars, rods decreased 20.14 percent from $277.61 million to $221.7 million through the first nine months of 2020 .... - more
  • U.S. imports of Stainless steel, not less than 600mm wide decreased 20.37 percent from $460.88 million to $367.01 million through the first nine months of 2020 .... - more
  •  U.S. exports of Stainless steel, not less than 600mm wide decreased 34.98 percent from $629.02 million to $408.96 million through the first nine months of 2020 ... - more
  • U.S. imports of Nickel totaled $104.94 million in September, a change of -15.84 percent from the same month one year ago. - more
  • U.S. exports of Nickel totaled $16.13 million in September, a change of -17.23 percent from the same month one year ago. - more

      Q3 recovery in steel demand better than expected - Many nations witnessed an unprecedented drop in steel demand, in the second quarter of 2020, at the height of the first wave of coronavirus infections. - more

      Access to New Caledonia's Vale nickel plant blocked - Kanak groups opposed to the latest sale plan of New Caledonia's Vale nickel plant have blocked road access to the site at Goro in the south of the main island. - more

      Minnesota Supreme Court hears argument PolyMet misrepresented its intent for mine - The Minnesota Supreme Court must decide whether the company trying to build the state’s first copper mine was engaged in “sham permitting” as it applied for its air pollution permit from regulators. - more

      Sumitomo expects Ambatovy mine to produce 3,000 T of nickel in Jan-March - Japanese trading house Sumitomo Corp plans to resume operation at its Ambatovy nickel mine in Madagascar early next year as planned, with an aim to produce 3,000 tonnes of nickel during the January-March quarter, its executive said on Friday. - more

      Distributor Pandemic Index Falls to Slightly Negative - It followed a recent new high for the index, even though seven of the 13 distributors surveyed reported a sales increase. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Stock Rally Stalls While Dollar Fluctuates: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Thursday, November 5
  

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $6.96/lb ($15,355/tonne). Indicators at 6:15 am CST today show nickel trading around $.04/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today, just under the 238,400 tonne level. For a second time this week, nickel closed within $15/tonne of the prior session (Friday/Monday and Tuesday/Wednesday) and for a second day this week, nickel is trading higher on a stronger Euro. According to those in the know, the edge for the Presidency appears to be leaning Biden's way, but the magical 270 electoral votes, have yet to be obtained. Depending on who your source of news is, Biden may be within 7 votes and Trump may need 56. It also appears the Democrats held the House and the Republicans likely held on to the Senate, which means unless whomever we get in the White House, can pull off a miracle, little will get done over the next few years. Stock markets are primarily interested in another round of stimulus, and as the dust of the election cycle settles (knock on wood), that may be closer to a reality. Whatever happens in the world of politics, in the real world, it is Thursday, and we are one step closer to the weekend. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - 
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper eases as challenges to U.S. vote fuel spending fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2933/lb
  • SHFE Stainless Steel  Futures -  13,750
  • U.S. September 2020 Trade Gap is $63.9 Billion - pdf here
  • U.S. International Trade in Goods and Services - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper rebounds from near 3-week low on nail-biting U.S. election - Copper prices edged higher on Wednesday in volatile trading after touching their lowest levels in almost three weeks as U.S. Democratic presidential challenger Joe Biden opened up narrow leads in key states. - more

      Vale sale plan again mobilises New Caledonia Kanaks - There has been another small rally in New Caledonia against the planned sale of the Vale nickel plant to a consortium led by a Swiss-based commodity trader, Trafigura. - more

      China props up the bulk trades as industry plans for the worse - China is stockpiling every kind of commodity at a “mind-blowing” rate, with the country’s imports propping up an overall fall in trade volumes globally, bulk terminal operators and shippers were told last week at a virtual conference organised by the Association of Bulk Terminal Operators (ABTO). - more

      ChromeSA addresses media inaccuracies on proposed export tax - ChromeSA has noted a number of egregious misconceptions, omissions and inaccuracies contained in media reports regarding a proposed chrome ore export tax and its impacts on the industry. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Evergy’s proposed electric rates leave some Kansans feeling ‘nickel and dimed’ - more
  • Elon Musk Gave Some Brilliant Career Advice. Here It Is in One Sentence - more
  • Tech Rebound Powers Stocks Higher; Treasuries Rise: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, November 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $6.97/lb ($15,370/tonne). Indicators at 6:15 am CST today show nickel trading around $.08/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started the day just under the 239,000 tonne level. Markets are lower this morning, as the U.S. Dollar rises against the Euro.Metals appear to be following the Euro/Dollar split, although some who were betting on a Biden win, may be quietly cashing out. The U.S. elections turned out to be tighter than we thought, and as of this morning, there is no clear winner. And it appears the Senate and House majorities have yet to be determined as well. So the only thing we can say with any confidence this morning, is the country is split pretty much down the middle. Except when it comes to smoking a little reefer. Four more states voted on recreational marijuana, four more states said yes. So enjoy your Ganja - one third of America. Almost 95,000 new cases of covid were diagnosed yesterday, with the seven day average near 89,000. To put that in perspective, last Thursday was the first time we ever passed the 89,000 level, and yesterday, that is the last seven day average. Deaths are on the rise, although not as dramatically thankfully. On October 18th, the seven day average of deaths was at 706. Yesterday it was 871, its highest since early September. We are turning a corner, as the President claims. It's just not going the way most would like. Stay safe out there, and have a great hump day.
  • Average price of LME traded cash nickel so far this month - $6.91/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits lowest in almost 3 weeks on nail-biting U.S. election - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2954/lb
  • SHFE Stainless Steel  Futures -  13,750
  • Manufacturers’ Shipments, Inventories, & Orders - pdf here
  • Durable Goods Orders& Shipments - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Industrial metals rise as aluminium hits 19-month high - Industrial metals rose alongside equities and oil prices on Tuesday as investors bet on Joe Biden to win the U.S. presidency, potentially making increased economic stimulus more likely, while strong manufacturing data and signs of tighter supply pushed aluminum to a 19-month high. - more

      China's Lygend pushes back Indonesia nickel project to March 2021 - China's Lygend Resources & Technology Co Ltd will not begin operating a nickel smelter at a project planned for eastern Indonesia until March 2021, a six-month delay, after the coronavirus slowed work, an executive said on Wednesday. - more

       The Energy Transition Will Be Built With Metals - Electrification is front and centre in the energy transition. The entire power value chain – from wind turbines and solar panels, transmission and distribution infrastructure to energy storage and batteries, electric vehicle (EV) charging and the rest – will be a winner. - more

       COVID-19 Has Changed the Way Procurement Looks at Metrics - If this article appeared in January of this year, it would have focused on “metrics that matter” to all organizations, especially to supply management and procurement professionals within those organizations. - more

      Paddling through the pandemic in Northeastern Minnesota’s Boundary Waters - The late-afternoon sun singes the back of my neck as we plunge our paddles into the tea-colored water lapping against the canoe. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Treasuries, Dollar Gain as Nasdaq Futures Rally: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, November 3

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed yesterday's trading session at $6.87/lb ($15,135/tonne). Indicators at 6:10 am CST today show nickel trading around $.10/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just under the 238,700 tonne level. Nickel is sharply higher this morning, as is the Euro against the U.S. Dollar. Adding to the bullishness, is the positive PMI reports coming in from around the world (see sampling here). If you are interested in a particular country, there is a list under the Reports section. The negative in the market is obviously the worldwide pandemic, and the uncertainty in the market, is the U.S. elections. The political pontificators are forecasting a tight race and a possible delay in the final results, but that is something they tend to do every four years. Thank you to those who have contacted us in regards to advertising in 2021. Please be patient with us as it will take a few days to get back with you. It's election day in America, and the last day for awhile, of negative political commercials. Stay safe out there, say thanks to a veteran by casting your vote, and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.86/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Industrial metals advance as factory data boosts sentiment - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2933/lb
  • SHFE Stainless Steel  Futures -  13,800
  • Fed US Economic Activity - pdf here
  • Global Manufacturing PMIs - pdf here
  • Manufacturing PMI Country List - more
  • NAB China Economic Update November 2020 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Yesterday's market review - Copper rises on strong Chinese and U.S. manufacturing data - Copper prices rose on Monday as sentiment was boosted by robust manufacturing data from China and the United States, though gains were limited by a firmer dollar as the market awaits the outcome of the U.S. presidential election. - more

      Shareholders suffer on Reuters Anonymous Tesla tip while Insiders Hit the Lottery - I don’t even know where to start with this. The long suffering shareholders? - more
  • Clausi on Giga Metals insiders riding the Reuters’ Tesla story and the regulators who turned a blind eye - more
      Indonesia to issue rules on nickel ore price around late March - The rules are aimed at preventing local smelting companies from buying ore at price level that are too low. - more

    Global Plug-In Electric Car Sales September 2020: Massive Record - Sales almost doubled to a new record level, while the market share nearly touched 5%.  - more

      Have steel prices peaked for the year? - Several factors suggest that prices will trend lower in November and December - more

      In October, US Had Strongest Manufacturing Growth in 2 Years - It was the US' best month for factory activity since September 2018. - more

      Courtesy AISI - In the week ending on October 31, 2020, domestic raw steel production was 1,557,000 net tons while the capability utilization rate was 70.4 percent. Production was 1,805,000 net tons in the week ending October 31, 2019 while the capability utilization then was 78.0 percent. The current week production represents a 13.7 percent decrease from the same period in the previous year. Production for the week ending October 31, 2020 is up 1.0 percent from the previous week ending October 24, 2020 when production was 1,542,000 net tons and the rate of capability utilization was 69.7 percent. - more

      17 Ways Distributors Can Reduce Everyday Expenses - Even distributors who are satisfied with their current arrangements should consider reviewing them. They may be leaving extra cash on the table. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Surge With Futures Hours Before U.S. Votes: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, November 2
   It's that time again where we offer advertising opportunities to sponsors for 2021. This year, besides the (#1) 728 X 90 banner space we offer across the top for $300 a month, we are offering (#2) a 120 wide X 600 tall space in the top left column for $250 per month. It replaces the top Google ad there now and if you have an adblock on, you will need to temporarily disable it to see the size of the add there now. We can also offer a smaller add below that starting at $75 and this add size/cost we are open to discuss, if there is any interest. If you are interested in sponsoring any of these adds for 2021, please contact us at info at estainlesssteel.com and please include or use the words stainless steel in the subject line or it may get accidentally deleted as spam. Thank you for your support.

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $6.87/lb ($15,150/tonne). Indicators at 6:05 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licenses warehouses went unchanged on Friday and ended last month and start this one just over the 239,000 tonne level. For October, stockpiles grew by 2,868 tonnes. The average price of traded cash nickel on the LME rose from $6.74/lb in September to $6.90/lb in October. Industry news was nearly non existent the past three days, so we added some EV news. Until the election in the U.S. is concluded, the markets could remain in limbo. We start a new month with our repeat sponsor Texas Pipe replacing another repeat sponsor Taunton Metals, who will be back in December. We thank them both for their long term relationship with this site and their financial commitment to keeping the site online. It is because of them, and the other monthly sponsors, that this site remains free and updated daily. Visit their sites and see what they can offer your business. It's a brand new month, with two left to conclude the year. Stay safe out there, and have a wonderful week and month.
  • Average price of LME traded cash nickel so far this month - 
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - China manufacturing data supports copper prices - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2933/lb
  • SHFE Stainless Steel Futures -  13,960
  • US Economic Indicators:Industrial Production - pdf here
  • University of Michigan: Consumer Sentiment - more
  • Recycling Today - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper prices dip, focus on U.S. election - Copper prices slipped on Friday as disappointment that China’s five-year economic plan did not specify plans to stockpile the metal dominated the mood, while uncertainty ahead of the U.S. presidential election curbed losses. - more

     China: Over 130,000 Plug-In Electric Car Sales In September 2020 - China is back in the game and accelerating. For plug-ins, last month was the best September ever.  - more
  • World’s Top 5 EV Automotive Groups Ranked By Sales: Q1-Q3 2020 - more

      Supply Chain Disruption and the Digital Response - The COVID-19 market is uncharted waters in the supply chain industry. Bottlenecks in the major manufacturing pathways, combined with safeguarded consumer spending and unprecedented restrictions on global trade, posed an early shock to the industrial and logistics sector.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Climb as Oil Slides to Five-Month Low: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more


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




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