Nickel closed Tuesday's trading
session at $7.26/lb ($16,015/tonne). Indicators
at 5:20 am CST today show
nickel trading around $.02/lb
lower. Stockpiles of nickel stored in LME licensed warehouses went
unchanged on Tuesday and still read just over the 158,950 tonne level.
Shanghai nickel fell to 126,520 y/t overnight. The $16,000 tonne level
remains the psychological level to trade around as the bulls and bears
tussle over ground on either side. China media reporting stainless
steel prices dropping hard, as stockists dump inventory. Would be
interesting to know if this was due to economic slowdown there or in
anticipation of a possible trade war with the Trump
administration. Tomorrow
is Thanksgiving here in the States, and we want to take a moment and
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our readers. We are taking a four day weekend so our next
update will be next Monday. We will update you on what
happens on the LME for the rest of this week in that update.
Stay safe out there in your holiday travels, and have a great
Thanksgiving holiday!! See you next week/month.
Average price of LME traded cash nickel
so far this month
- $7.14/lb
Reports
Reuters metals morning - Copper trades in
narrow range with traders ...- more
Tuesday's market
review - Copper slips as Trump
releases details of China tariffs - Copper prices dropped modestly on
Tuesday after incoming U.S. President Donald Trump provided details of
proposed .... - more
China’s
stainless steel exports up 20.18 percent in
Jan-Oct - In October this year, China's stainless steel imports
amounted to 158,300 mt, up 32.05 percent month on month, while
declining by 44.32 .... - more
Stainless
Steel Mills Significantly Lower Prices Again, Futures and Spot Prices
Continue to Decline - more
Thailand launches AD sunset review on China’s cold-rolled
stainless steel - On November 20, 2024, Thailand’s Department of
Foreign Trade, Ministry of Commerce, announced the launch of the second
sunset ... - more
Outokumpu publishes EPDs to reduce carbon
emissions - To
support its customers’ targets to reduce their carbon emissions from
supply chain, Outokumpu, a pioneer in sustainable stainless steel, has
.... - more
Outokumpu environmental product declarations - more
Election result
raises prospect of US steel price rise -
Donald Trump’s re-election as President of the United States has
prompted concerns that increased import tariffs will apply downward
pressure on steel ... - more
Thyssenkrupp to axe 11.000 jobs, reduce capacity -
Thyssenkrupp Steel says it will cut around 5,000 jobs in production and
administration by 2030. A further tranche of 6,000 jobs is to be
transferred to external ... - more
European governments, business leaders warn of
industrial weakness - more
The light weighting advantages of stainless steel -
Stainless steel has been the old faithful of the automotive industry
for decades. Continuous reinvention has kept the material relevant
during the rise of .... - more
Biden officials make last-ditch push for Greenland
mining
investment - The outgoing administration of US President Joe Biden is
making a last-ditch push for mining companies and others to invest in
Greenland... - more
5 Things You Need to Know about Class 1
& 2 and Intermediate Nickel (Transcript) - more
Tuesday, November 26
Daily Nickel/Stainless Steel Briefing
Nickel closed Monday's trading
session at $7.35/lb ($16,200/tonne). Indicators at 5:40 am CST today show
nickel trading around $.03/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Monday and read just over the 158,950 tonne level this morning.
Shanghai nickel rose to 127,200 y/t overnight, and we are switching to
the January contract which read 125,500 y/t overnight. Nickel bounced
over the $16,000 tonne level yesterday, and while off a little this
morning, still has its head above that level. Lot of news this morning
as reporters try to push thru stories before the extended holiday
break. Stay safe out there and have a great Tuesday. Christmas is less
than a month away.
Average price of LME traded cash nickel
so far this month
- $7.14/lb
Reports
Reuters metals morning - Copper Slips as Dollar Surges After Trump .... - more
Monday's market review - Copper bounces on bargain
hunting and risk appetite - Copper prices rebounded on Monday from two
sessions of losses, buoyed by bargain hunting and increased risk
appetite after .... - more
Ningde sets ambitious growth targets for stainless steel
industry by 2025 - The city of Ningde in Fujian Province, China, has
announced plans to achieve an output value of CNY 260 billion for its
stainless steel ... - more
Western Miner Eramet Sees No Profits in Nickel Without
Chinese Partners - The head of French miner Eramet’s Indonesian
operations has said it has become impossible for western companies to
run profitable ... - more
Acerinox gets all approvals for acquisition of Haynes in
US, expecting to close this deal by end-November - The Austrian
competition authorities have approved the purchase of Haynes
International by the ... - more
Global Steel Takes an Upward Turn - In
some of the largest producer nations, raw-steel tonnage ticked up
sufficiently to spark a 5% rebound worldwide and reverse the five-month
trend. - more
Battery Replacement Costs Are Poised To Plunge: 'Cheaper Than
Fixing An Engine' - The high-voltage battery is the lifeblood of an
electric vehicle. However, concerns about the long-term health of an EV
battery ... - more
Singapore businessman Ng Yu Zhi faces trial over US$1.1 billion nickel scam - The
ex-accountant, who spent millions on funding an extravagant lifestyle,
is accused of raising money for trades that did not exist - more
Bahlil Says There Is A Company That Wants To Dredge 40 Percent Of
Indonesian Nickel Production - Minister of Energy and Mineral Resources
(ESDM) Bahlil Lahadalia revealed that there was one nickel ... - more
Courtesy AISI - In the week ending on November 23, 2024, domestic
raw steel production was 1,655,000 net tons while the capability
utilization rate was 74.5 percent. Production was 1,687,000 net tons in
the week ending November 23, 2023, while the capability utilization
then was 73.4 percent. - more
Other News
Why Do Banks Fail? Bank Runs Versus Solvency - more
Trump threat: Tariffs on China, Canada and Mexico; China says 'No-one will win a trade war' - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Monday, November 25
Daily Nickel/Stainless Steel Briefing
Nickel closed Friday's trading
session at $7.21/lb ($15,900/tonne). Indicators at 5:40 am CST today show
nickel trading around $.06/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Friday and ended the week reading just under the 159,050 tonne level.
Shanghai nickel ticked higher to 128,900 y/t overnight and we will be
switching to the January contract later this week. Nickel is back to
the $16,000/tonne level this morning, helped by a stronger Euro. This
will be a short week for the the U.S. with the Thanksgiving holiday
being celebrated on Thursday and many business' shut down on Friday as
well. Our last update for the month of November will be on Wednesday
this week, and we will catch you up on what happened in London the
following Monday. Stay safe out there and have a great week!
Average price of LME traded cash nickel
so far this month
- $7.13/lb
Reports
Reuters metals morning - Base Metals Climb as Dollar Drops .... - more
Friday's market review - Copper, aluminium under
pressure from weak euro zone PMI - Prices for copper and aluminium fell
in London on Friday as data showing a tumble in euro zone business
activity weakened ... - more
Nickel Price Crash Seen Extending Indonesia’s Grip on
Supply - A prolonged slump in nickel prices is stress-testing producers
worldwide, raising the prospect of sweeping mine closures that will
deepen Indonesia’s... - more
World crude steel production for the 71 countries
reporting to the World Steel Association (worldsteel) was 151.2 million
tonnes (Mt) in October 2024, a 0.4% increase compared to October 2023.
- more
FIA arrests businessman for exporting soil instead of
minerals to China - The Cooperative Crime Circle of the Federal
Investigation Agency (FIA) has arrested a businessman for allegedly
sending soil and gravel .... - more
Other News
Scott Bessent's rise through finance to the US Treasury - more
Chinese hackers preparing for conflict, US cyber official says - more
Building Frenzy in the South China Sea - Who Is Fortifying Islands? - more
US farm groups want Trump to spare their workers from deportation - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Friday, November 22
Daily Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $7.12/lb ($15,700/tonne). Indicators at 5:50 am CST today show
nickel trading around $.07/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Thursday and started today near the 159,000 tonne level. Shanghai
nickel slipped to 125,090 y/t overnight. Nickel lost the $16,000 tonne
level yesterday and while they are facing a strong headwind of a
continuing slumping Euro this morning, they refuse to completely
surrender. Another week in the history books and if its been a rough
one, keep in mind you're still vertical and next week will be a whole
lot better if you let it. Stay safe out there and have a great weekend!
Average price of LME traded cash nickel
so far this month
- $7.14/lb
Reports
Reuters metals morning - Most base metals fall on firmer dollar, risk-off sentiment - more
Thursday's market review - Copper slips on
uncertainties over China, Ukraine, Trump - Copper prices retreated on
Thursday on concerns about the latest developments in the war in
Ukraine, a firmer dollar and ... - more
Steel Sensitivities: Aperam to Acquire Universal
Stainless & Alloy Products - Luxembourg-based stainless,
electrical, and specialty steel producer Aperam S.A. announced it will
acquire Universal Stainless & Alloy ... - more
Japan crude steel output drops nearly 8% y/y in October
on weak demand - In October this year, Japanese crude steel production
was up by 4.6 percent compared to the previous month and down by 7.8
percent .... - more
Worldstainless: Scrap & renewable energy are
key to future emission reduction - The World Stainless Association's
CO2 Emissions Report pointed out that although CO2 emissions during the
production process .... - more
Indonesia Curbing Nickel Supply to Support Locals, Eramet Says -
Indonesia is squeezing supplies of nickel ore to protect smaller local
miners as the market for the battery metal endures a prolonged slump,
... - more
Pakistani trader cons Chinese company, sends soil in
containers instead of metal ore - Taking action against fraud, the
Federal Investigation Agency's (FIA) Cooperative Crime Circle has
arrested a Pakistani ... - more
Other News
Trafigura delivers lead to LME warehouses for lucrative rent deals - more
Moody’s: Asia-Pacific outlook for 2025 ‘stable’ - more
Chinese Carrier Detained for Suspected Sabotage of Telecom Lines - more
Why Do Banks Fail? Three Facts About Failing Banks - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Thursday, November 21
Daily Nickel/Stainless Steel Briefing
Nickel closed Wednesday's trading
session at $7.21/lb ($15,900/tonne). Indicators at 6:00 am CST today show
nickel trading around $.07/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and started today reading just under the 158,050 tonne level.
Shanghai nickel rose to 127,760 y/t overnight. The battle for the
$16,000 tonne level has resumed between the bulls and the bears, with
little change in the fundamentals to cheer on the bulls. Russia is
threatening nuclear apocalypse again. And Iran is admitting it has more
nuclear grade uranium than it reported earlier. While it is our hope
this is mere saber rattling, something that did blow up this week that
is good for the stainless steel industry was the mostly successful test
launch of SpaceX's Starship. Both parts successfully landed in the
ocean but both blew up afterwards. Made of stainless steel grade 30X,
possibly similar to 304L, every time these things blow up, lessons are
learned and stainless steel demand goes up. Stay safe out there and
have a great Thursday!
Average price of LME traded cash nickel
so far this month
- $7.14/lb
Reports
Reuters metals morning - Copper slips on uncertainties over China, Ukraine, Trump - more
Wednesday's market review - Copper climbs as
geopolitical tensions ease, dollar caps gains - Copper prices drifted
higher on Wednesday, rising for a fourth session, as geopolitical
concerns eased and after ... - more
Nickel futures rebounded to above $16,000 per tonne from
a 4-year low, fueled by concerns over Indonesia, the world’s largest
nickel producer, tightening its mining policies. - more
The Economic Impact of Stainless Steel Production -
Stainless steel, acclaimed for its corrosion resistance, durability,
and sleek appearance, serves as a foundational material in various
sectors, including ... - more
Taiwan’s Yusco & Tang Eng may benefit from current
stainless steel market - The current international steel market is weak
and the demand for stainless steel is sluggish. However, the Vietnamese
government ... - more
India's April-September steel imports led by China, govt
data shows - India's imports of steel over the period from April to
September were led by shipments from China, according to provisional
government data... - more
Other News
Dollar resumes climb after three-day fall as investors eye Fed - more
Trafigura Charged for Alleged Bribery Scheme in Angola - more
After Subsea Cable Damage, Five Nations Warn of Russian Hybrid Warfare - more
Grindrod suspends port operations in Mozambique after border closure - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Wednesday, November 20
Daily Nickel/Stainless Steel Briefing
Nickel closed Tuesday's trading
session at$7.19/lb ($15,860/tonne). Indicators at 5:50 am CST today show
nickel trading around $.10/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and now read just over the 159,400 tonne level. Shanghai nickel
rose to 126,760 y/t overnight. Nickel bulls have reached the $16,000
tonne level this morning, so now we see what they can do with it. This
is the second time this month bulls have ventured into the $16,000
tonne pasture and held it for only a few days after the US election
results momentarily boosted the Euro. The Euro continues to drag so
nickel is making its own fuel for this rally. How far can the bull run
this time around? Stay tuned. And stay safe out there and have a great
hump day!
Average price of LME traded cash nickel
so far this month
- $7.14/lb
Tuesday's market review - Copper inches higher -
Copper prices drifted higher on Tuesday as the dollar rally took a
breather, although concerns over China demand and potential US tariffs
continued to weigh ... - more
Nickel Price Prediction for 2025 - Expert Analysis: Nickel Price
Forecast for 2025 -Will Nickel Prices Skyrocket or Crash in 2025? - more
US to lift AD & CVD orders on refillable stainless
steel kegs from China, Mexico - On November 14, 2024, the US Department
of Commerce (USDOC) announced its final ruling of the first
anti-dumping (AD) and... - more
Mining industry to ‘push back strongly’ against Eskom’s
proposed tariff hikes – Pienaar - South Africa’s mining industry will
“certainly push back strongly” against Eskom’s proposed tariff hikes,
says Minerals ... - more
Flames of death: Unveiling the nickel industry's grim reality -
Irwandi, a worker at PT Indonesia Morowali Industrial Park (IMIP),
uploaded a video on the WeChat messaging application about ongoing
repairs at .... - more
Other News
US state payrolls numbers confirm the cooling jobs narrative - more
Individuals, married couples respond differently to U.S. income tax changes - more
Undersea Internet Cables Severed, Sparking Fears of Russian Sabotage & Showing How Fragile Our Internet Really Is - more
US faces growing crisis over high traffic deaths, NTSB chair says - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Tuesday, November 19
Daily Nickel/Stainless Steel Briefing
Nickel closed Monday's trading
session at $7.13/lb ($15,710/tonne). Indicators at 6:00 am CST today show
nickel trading around $.09/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Monday and this morning read just over the 159,250 level. Shanghai
nickel ticked higher to 125,360 y/t overnight. Nickel rose with the
Euro yesterday but the two are trading in different directions this
morning. The Euro has sunk while nickel continues to rally. Falling
below the $15,500 tonne level yesterday, it is now struggling to climb
over the $15,900 tonne level. On the outside, this appears to be little
more than a strong move by the bulls to force shorts to cover and drive
the average price back closer to the $16,000 tonne level. The year
began in the $16.600 tonne range so anything less than by years end,
will reflect a negative year in the history books. Is anyone noticing
the huge layoffs happening in the auto industry around the country -
and world? Stay safe out there and have a great Tuesday!
Average price of LME traded cash nickel
so far this month
- $7.14/lb
Reports
Reuters metals morning - Copper inches higher as dollar rally pauses.... - more
Monday's market review - Copper edges down on
uncertainty, aluminium retreats after rally - Copper prices dipped on
Monday as investors awaited more news about potential U.S. tariffs and
Chinese stimulus, ... - more
Global Stainless Steel CR Coil Prices Exhibit Mixed Trends
Due to Supply and Demand Imbalance - With the week ending on 15th
November, the global Stainless Steel CR coil market displayed mixed
trends, ... - more
Marcegaglia doubles stainless production at Fagersta - In
Sweden, Marcegaglia produces around 60,000 mt of wire rod and aims to
double its total production with the bar and stainless wire rod
production. - more
Japan experiences m-o-m drop in stainless steel scrap
exports in Sep - According to statistics, Japan exported a total of
roughly 12,000 tons of stainless steel scrap in September, falling by
26.3% compared to the ... - more
Courtesy AISI - In the week ending on November 16, 2024, domestic
raw steel production was 1,623,000 net tons while the capability
utilization rate was 73.1 percent. Production was 1,687,000 net tons in
the week ending November 16, 2023, while the capability utilization
then was 73.4 percent. - more
Other News
New Caledonia’s pro-independence movement struggling to maintain united front - more
Trafigura hunts missing $500 million in Mongolian fuel fraud, trading sources say - more
Putin fine-tunes Russia’s nuclear doctrine after Biden’s arms decision on Ukraine, in clear signal to West - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Monday, November 18
Daily
Nickel/Stainless Steel Briefing
Nickel closed Friday's trading
session at $7.04/lb ($15,530/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.03/lb
lower. Stockpiles of nickel stored in LME licensed warehouses surged
again on Friday and ended the week reading just over the 159,10 tonne
level. Stockpile numbers for the first half of November rose by over
12,300 tonnes so if you were hoping the surplus in nickel worldwide was
over - not so much. Shanghai nickel rose to 124,710 y/t overnight.
Nickel ended Friday lower and thanks to a momentary surge in the Euro
this morning, was able to move higher in early trading. But the Euro
gave up its gains quickly, as did nickel. Interesting article below on
the surge in nickel imports in Indonesia. The official line is the
backlog in new permits is hampering production "in" Indonesia and
therefore the factories there are forced to import from the Philippines
to keep their ovens working. While this is probably true, the real
story here, in our opinion, is why the permits are so slow in being
issued. Could it be that their nickel reserves are not what they say
and they need to slow the extraction? 43 days left to meet your goals
for 2024. Stay safe out there and have a great week!
Average price of LME traded cash nickel
so far this month
- $7.16/lb
Reports
Reuters metals morning - Base metals rebound on dip-buying, ... - more
Friday's market
review -
Aluminum Soars as China Scraps Tax Sweetener That Fueled Exports
- Aluminum jumped on Friday after China said it would cancel a tax rebate that’s helped fuel a decades-long boom... - more
What's the Price of Stainless Steel? - For the most part,
the underlying commodities within stainless have not been as volatile
as those for other metals. However, the price of molybdenum has been
bucking that ... - more
Weak European stainless flats demand persists - The
European stainless flat steel market remains under pressure due to
persistent overcapacity and slow demand from buyers, sources from both
southern and ... - more
Indonesia’s nickel ore imports surge - Indonesia’s imports of nickel
ore surged to 9.3 million metric tons in the first ten months of 2024,
more than 50 times the corresponding figure of 161,917 tons for the
year ... - more
BHP Warns Australian Mining Not Ready for Low-Cost Competitors - BHP
Group’s Australia chief said the nation can’t rely on its traditional
mining export markets and is unprepared for a new era of lower-cost...
- more
Mining Conflicts Hit Communities As Battery Demand Soars - A Global
Witness study of violence and protest data from 19 countries shows
incidents linked to copper, lithium, nickel and cobalt mining have
increased - more
Other News
New Caledonia: Founding party leaves pro-independence FLNKS umbrella 'until further notice' - more
Economic Stats and
Prices (posted in
Friday edition)
5 Things You Need to Know about Class 1
& 2 and Intermediate Nickel (Transcript) - more
Friday, November 15
Daily Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $7.11/lb ($15,670/tonne). Indicators at 5:35 am CST today show
nickel trading around $.03/lb higher.
Stockpiles of nickel stored in LME licensed warehouses fell on Thursday
and ended that session reading just under the 154,450 tonne level.
Shanghai nickel fell to 123,140 y/t overnight. Nickel is up slightly
this morning, thanks to an attempt by Euro traders to end the slide in
the Euro against the stronger U.S. Dollar. The coinciding movement
between the Euro and LME nickel is expected to continue although the
surplus of global nickel is likely to contain LME nickel prices should
the Euro rally. Another week is in the bag and half the month of
November and half the final quarter of 2024 will soon be history. Stay
safe out there and have a great weekend!
Average price of LME traded cash nickel
so far this month
- $7.17/lb
Reports
Reuters metals morning - London copper ticks up but heads for ... - more
Thursday's market review - Copper hits three-month
low to attract consumers buying - Copper prices continued to fall for
their fifth consecutive session on Thursday to their three-month low on
arbitrage trading ... - more
Taiwan's 300 series stainless steel CRC imports &
exports in Jan-Oct exceed last year's totals - In March, Taiwan's
imports of 300 series stainless steel cold-rolled coils rose to about
5,500 tons, the highest since ... - more
New Caledonia's Prony to restart nickel operations after six-month
halt - New Caledonian nickel producer Prony Resources will resume
operations from Monday after a six-month shutdown prompted by riots in
the... - more
LME clearing house unveils reforms, to triple member
capital requirements - The London Metal Exchange's clearing house
proposed reforms on Thursday to boost stability including tripling the
capital requirements ... - more
Global chromium ore production rises amid Chinese demand
surge - Data from the International Chromium Development Association
(ICDA) reveals a 4% year-over-year increase in global chromium ore
production ... - more
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Columbus Stainless Calls for Holistic Government Approach to
Safeguard Domestic Steel Production - Amidst global and local steel
oversupply, nations such as the USA, as well as those in South America
and...- more
Exploration spending to stay flat despite Trump pledges,
strong gold prices, S&P says - The amount spent to find new mineral
sources may grow little next year, even if gold prices continue their
record run and .... - more
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Thursday, November 14
Daily Nickel/Stainless Steel Briefing
Nickel closed Wednesday's trading
session at $7.16/lb ($15,775/tonne). Indicators at 5:40 am CST today show
nickel trading around $.05/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose
sharply on Wednesday and started today reading just over the 154,450
tonne level. Sharply is not really an adequate word to describe a one
day gain over over 3100 tonnes. Shanghai nickel fell to 124,880 y/t
overnight. The Euro is losing ground again this morning, and nickel is
southbound in response. Industry news dried up yesterday and we had to
search far and wide for what we posted below. And we apologize - it
isn't much. Stay safe out there and have a great Thursday!
Average price of LME traded cash nickel
so far this month
- $7.19/lb
Reports
Reuters metals morning - Copper extends retreat to trade below $9,000 level on dollar rally - more
Wednesday's market review - Copper hits two-month
low on China demand angst - Copper prices hit a two-month low on
Wednesday as the dollar held firm and poor demand prospects in top
consumer China ... - more
Govt plans to auction offshore mineral blocks in 2-3 months: G
Kishan Reddy - The government is planning to begin the auction of
offshore mineral blocks in the next two to three months and around 10
such mines ... - more
Nickel Mining Fuels Tension And Environmental Worries In
Indonesia - Balancing economic growth with environmental concerns poses
challenges for communities and industries across the region - more
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Wednesday, November 13
Daily Nickel/Stainless Steel Briefing
Nickel closed Tuesday's trading
session at $7.21/lb ($15,900/tonne). Indicators at 5:40 am CST today show
nickel trading around unchanged .
Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday
and started today's session reading just over the 151,300 tonne level.
Shanghai nickel fell to 125,870 y/t overnight. After falling well below
the $16,000 tonne level yesterday, nickel is quiet this morning, with
the Euro's fall against the US Dollar flattening out. While most
rallies are hard to understand, the reaction of the currency market to
the US election can explain this last one. When the Euro is slumping
against the U.S. Dollar, there is negative pressure on nickel as it
becomes more expensive to trade. Put a LME nickel graph next to a Euro
trading graph for the past week (or longer), and you will notice the
similarity. Where it is heading no one knows, but based on the
fundamentals, there is little reason to think it will spend much time
above the $16,000 tonne level anytime soon... although the bulls will
continue to try. Stay safe out there and have a great hump day!!
Average price of LME traded cash nickel
so far this month
- $7.21/lb
Reports
Reuters metals morning - Copper hits two-month low as strong dollar... - more
Tuesday's market review - Copper slides to two-month
low on disquiet over Trump and China - Copper prices slumped to the
lowest in two months on Tuesday on worries about the impact of incoming
U.S. ... - more
Vietnam lifts anti-dumping duties on imported cold-rolled stainless
steel - The Ministry of Industry and Trade on November 12 announced the
termination of anti-dumping duties on cold-rolled stainless steel ... more
Copper views Trump win through Chinese lens: Andy Home -
Donald Trump's U.S. presidential election win has not sparked a repeat
of the explosive copper rally which followed his unexpected victory in
2016. - more
Ulbrich Stainless Steels & Special Metals acquires
two ATI operations - Ulbrich Stainless Steels & Special Metals
acquired ATI’s precision rolled strip operations in New Bedford,
Massachusetts and Remscheid, ... - more
Russia’s stainless steel imports decrease in Jan-Jun
y-o-y - According to statistics from the Russian Special Steel and
Alloys Consumers and Suppliers Association (USSA), Russia imported
around 227,000 tons... - more
Courtesy AISI - In the week ending on November 9, 2024, domestic raw
steel production was 1,649,000 net tons while the capability
utilization rate was 74.2 percent. Production was 1,687,000 net tons in
the week ending November 9, 2023, while the capability utilization then
was 73.4 percent. - more
Stainless steel - when health comes first - Stainless steels have a
wide range of applications, including those where human health may be
involved. - more
Other News
4 manufacturing issues to watch under a new Trump administration - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Tuesday, November 12
Daily Nickel/Stainless Steel Briefing
Nickel closed Monday's trading
session at $7.31/lb ($16,120/tonne). Indicators at 5:35 am CST today show
nickel trading around $.06/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Monday and were recorded at just under the 150,850 tonne level this
morning. Shanghai nickel ticked lower to 126,760 y/t overnight. The
Trump jump is over with LME nickel trading back below the $16,000 tonne
level this morning. The price bump and decline since has been fueled by
the strength of the Euro, which saw an initial jump after the election
was called, but has been hammered since. Stockpile numbers keep
growing, implying that the supply/demand ratio still leans heavily to
the oversupply side. Stay safe out there and have a great Tuesday!
Average price of LME traded cash nickel
so far this month
- $7.22/lb
Reports
Reuters metals morning - Copper eases tracking dollar strength, weak China demand - more
Monday's market review - Copper dips as fall in
Chinese new lending signals weak demand - Copper slipped on Monday
after new bank lending in China fell more than expected in October,
highlighting weak ... - more
Walsin Lihwa to build new stainless steel wire rod plant
in Indonesia - The board of directors of Walsin Lihwa, a stainless
steel wire rod and cable manufacturer in Taiwan, has decided that its
subsidiary Walsin ... - more
China and Indonesia Bolster Ties with $10B Deal in Strategic
Sectors. How will it Impact Indonesia’s Nickel Industry? - China and
Indonesia partnered for a series of business agreements worth $10
billion during ... - more
China's steel industry PPI down six percent in
January-October - In the January-October period this year, China's
producer price index (PPI) for its ferrous metal smelting and rolling
sector decreased by 6.0 percent ... - more
Innovative Uses of Stainless Steel in the Aerospace Sector
- The aerospace industry has always pushed technology to its
limits, particularly when it comes to materials. Despite the use of
many metals, stainless ... - more
Trump election could reopen path for mining near Boundary Waters -
It’s been like a high-stakes ping-pong match over the past several
Presidential administrations when it comes to the prospect of mining
near... - more
Other News
Trump’s tariffs: Not your grandpa’s economic disaster - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Monday, November 11
Daily Nickel/Stainless Steel Briefing
Nickel closed Friday's trading
session at $7.41/lb ($16,340/tonne). Indicators at 5:35 am CST today show
nickel trading around $.05/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Friday and ended the week reading just over the 150,250 tonne level.
Shanghai nickel slipped to 128,040 y/t overnight. Nickel ended lower on
Friday and is trading lower this morning as the Euro tanks against the
US Dollar. It's the 11th day of the 11th month of 2024. Stay safe out
there this week and have a great Monday.
Average price of LME traded cash nickel
so far this month
- $7.22/lb
Reports
Reuters metals morning - Most Shanghai base metals dip on China stimulus letdown - more
Friday's market review - Base metals largely fall as
China stimulus disappoints - Base metals prices in London were largely
down on Friday after the scale of policy support from top consumer
China turned out ... - more
Significant Decrease in Stainless Steel Arrivals, 300-Series Social
Inventory Down 1.4% - As of November 7, SMM total social inventory of
stainless steel was 978,200 mt, down approximately 1.17% WoW. Among
.... - more
EU long steel producers and distributors struggle under
high costs and shrinking demand - European long steel producers are
under severe financial pressure that could compel them to potentially
close or divest ... - more
Indonesia’s Small Islands Pay the Price for Nickel Mining - The push
for electric vehicles (EVs) promises a cleaner future, but the
production of their batteries comes at a steep cost to Indonesia’s
small islands. ... - more
Researchers Aim To Extract Nickel Using Mustard Plants - An
international team of researchers, including scientists from Wageningen
University & Research, is investigating the potential for plants to
extract nickel ... - more
Other News
Average American Debt in 2024: Household Debt Statistics - more
Xi holds talks with Indonesian president in Beijing - more
Tariffs and retail prices: What consumers need to know - more
Euro hits lowest since late June vs dollar on tariff worries - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Friday, November 8
Daily
Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $7.53/lb ($16,610/tonne). Indicators
at 5:30 am CST today show
nickel trading around $.11/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose
sharply on Thursday and now are reported to total over the 150,300
tonne level. This is the first time since October 2021 that LME
stockpile numbers have measured over the 150,000 tonne level. Shanghai
nickel rose to 129,850 y/t overnight. Nickel traders decided to take
advantage of the bullish mood world markets were generally in since the
U.S. election and either thought nickel was due for a bullish run, or
thought the time was right to squeeze the shorts. Either way, some of
yesterday's enthusiasm has waned and this morning nickel has lost about
half what it gained yesterday. A gain of over 3000 tonnes in LME nickel
stockpiles did not help encourage the bulls. The Euro continues to gain
against the U.S. Dollar, which helps keep the bulls in the game. Lot of
speculation on what a second Trump administration will mean for
business, including logistics, supply chains, specific industries, and
trade relations. Some linked below, but at this point, nearly all is
speculation. Another week is fast coming to a close and nearly in the
bag. Stay safe out there and have a great weekend!
Average price of LME traded cash nickel
so far this month
- $7.20/lb
Reports
Reuters metals morning - Base metals largely fall as China stimulus disappoints - more
Thursday's
market review - Copper bounces as investors reassess Trump and look to
China stimulus - Copper prices rebounded on Thursday as investors took
another look at the impact of Donald Trump’s ... - more
Eramet: Indonesia to be world’s largest nickel producer - Jérôme
Baudelet, CEO of nickel company Eramet Indonesia, has predicted that in
the next 10 years, Indonesia will become the world’s largest nickel ...
- more
Canadian mining firms fear ability to meet soaring demand as jobs
crisis stalks land of the Big Nickel - ‘People love to jump in their
cars, use their cell phones and Xboxes and jump on light rail, but they
don't ... - more
US launches AD & CVD five-year reviews on welded
stainless steel pressure pipes - On November 1, 2024, the US
International Trade Commission (USITC) instituted the third sunset
reviews of anti-dumping ... - more
Marcegaglia expands stainless steel production in Fagersta -
Marcegaglia Fagersta Stainless announced it will double its
manufacturing capacity at its Fagersta, Sweden facility. - more
Huayou seeks $2.7 billion for Ford-backed Indonesia nickel plant -
Zhejiang Huayou Cobalt Co., one of the world’s largest nickel
producers, is sounding out banks for roughly $2.7 billion in financing
for its Ford ... - more
Trump
win ends US steel sector’s election uncertainty - United States steel
market participants hope that a renewed “America First” economic
approach will drive increased demand following the re-election of ....
- more
US long steel product prices to rebound in
2025 - more
Unlocking America's Clean Energy Revolution - As the world
shifts towards a more sustainable future, the spotlight is intensifying
on materials critical to the energy transition. Nickel, while flying
under most .... - more
Other News
Grindrod suspends port operations in Mozambique
after border closure - more
Germany faces snap election as Scholz's
coalition crumbles - more
Top 10 trucking policies likely to be affected
by Trump’s return - more
'Huge' Impacts on Supply Chains Likely During
Next Trump Presidency - more
US suppliers, importers prepare for promised
Trump tariffs - more
Economic Stats and
Prices (posted in
Friday edition)
5 Things You Need to Know about Class 1
& 2 and Intermediate Nickel (Transcript) - more
Thursday, November 7
Daily Nickel/Stainless Steel Briefing
Nickel closed Wednesday's trading
session at $7.34/lb ($16,175/tonne). Indicators at 5:50 am CST today show
nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME licensed warehouses
slipped on Wednesday and started today reading just over the 147,250
tonne level. Shanghai nickel rose to 127,260 y/t overnight. After
an initial negative reaction to a stronger U.S. Dollar, nickel closed
right where it did before the U.S. election results were known on
Tuesday. After U.S, equity markets soared yesterday, commodities are
trying to play catch-up this morning with all base metals trading
higher. News was light today with the media concentrating on the U.S.
election and what it might mean worldwide. Stay safe out there and have
a great Thursday!
Average price of LME traded cash nickel
so far this month
- $7.16/lb
Reports
Reuters metals morning - Copper bounces as investors reassess .... - more
Wednesday's market review - Copper tumbles as Trump
victory sparks fear of slower energy transition - Copper prices tumbled
on Wednesday as victory for Republican Donald Trump in the U.S.
presidential .... - more
China’s industry ministry plans to step up lithium,
cobalt, nickel exploration - China’s industry ministry is proposing to
step up domestic exploration of mineral resources under a plan to
support the energy storage.... - more
Why it’s still too early to call the low in battery metals
prices - No doubt those who went on the battery metals investing
journey during the 2021-22 bull market (and chose to stick around) are
wondering when the ... - more
Critical mineral mines tied to 111 violent incidents and protests on
average a year - Between 2021 and 2023, nearly 90% of violence and
protests happened in emerging economies, while up to 81% of mining is
by... - more
Other News
How Trump's second administration affects business: Musk, tariffs and more - more
Everything we know about Trump’s policies on tariffs, trade, and taxes - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Wednesday, November 6
Daily Nickel/Stainless Steel Briefing
Nickel closed Tuesday's trading
session at $7.34/lb ($16,175/tonne). Indicators at 5:50 am CST today show
nickel trading around $.03/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and started today reading just under the 147,300 tonne level.
Shanghai nickel ticked lower to 124,460 y/t overnight. Commodities in
general and nickel specifically are trading lower this morning as the
Euro gets hammered against the US Dollar as election results come in.
An announcement by NewsNation calling Trump the winner for the White
House saw a big dip in the Euro, so much of today's trading is being
led by knee jerk reactions to potential future changes. Stay safe out
there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $7.18/lb
Reports
Reuters metals morning - Copper Drops as Dollar Strengthens on Trump Victory - more
Tuesday's market review - Copper firms to
three-week high on weaker dollar before election results - Copper
prices rose on Tuesday to a 22-day high on a softer dollar as traders
balanced their positions ahead ... - more
Supply Control and Shortages Amid EV Demand Supercharges
Battery Metal Prices - Nickel prices are forecast to climb back to
$20,000 per ton by the end of 2024, according to Canada Nickel CEO Mark
Selby. - more
China’s stainless steel imports & exports fall in Sep
m-o-m - Statistics from China’s customs showed that China’s stainless
steel imports totaled around 120,000 tons in September, falling by
20.4% compared to ... - more
Anti-dumping duty imposed on welded stainless steel pipes,
tubes - The government on Tuesday imposed anti-dumping duty on welded
stainless steel pipes and tubes imported from Vietnam and Thailand, ...
- more
Higher stainless steel prices in Taiwan awaiting
acceptance by market - Taiwan’s stainless steel mills raised 304
products’ prices by NT$3,000/ton for November and maintained prices of
other series products. ... - more
Other News
China ‘most challenging trade partner’, says EU’s next trade chief - more
US Election Day voting begins amid fears of violence, unrest - more
Walmart, other US retailers import fewer Christmas goods ahead of tepid holiday season - more
US election: close races to decide control of US Congress - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Tuesday, November 5
Daily Nickel/Stainless Steel Briefing
Nickel closed Monday's trading
session at $7.30/lb ($16,090/tonne). Indicators at 5:40 am CST today show
nickel trading around $.08/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Monday and started today's session measuring just under the 147,100
tonne level. Shanghai nickel slipped to 124,520 y/t overnight. Nickel
is trading higher this morning, with the Euro lower against the US
Dollar adding negative pressure. All eyes are on the U.S. today, with
nationwide elections deciding who will be in the White House for the
next four years, and which party will control the U.S. Senate and House
of Representatives for the next two years.Stay safe out there and have a great Tuesday!
Average price of LME traded cash nickel
so far this month
- $7.16/lb
Reports
Reuters metals morning - Copper gains; spotlight on US election and China meeting - more
Monday's market review - Base metals rise - Prices
of base metals rose on Monday on a softer US dollar, but trading
remained thin amid caution around the uncertainty of who will become
the next US president. - more
European stainless steel prices down on low demand, production cuts - European
price ranges for stainless flat steel products narrowed downward on
Friday November 1, due to low demand and reduced.... - more
China’s stainless steel exports up 19.75 percent in
Jan-Sept - In September this year, China's stainless steel imports
amounted to 119,800 mt, down 20.39 percent month on month, while
declining by 48.23 ... - more
Vietnam’s cancellation of AD duties on Taiwan's
cold-rolled stainless steel may benefit Taiwan's exports - Since 2014,
Vietnam has levied anti-dumping (AD) duties on cold-rolled stainless
steel products originating ... - more
Walsin Lihwa’s Italian subsidiary completes acquisition of
Mannesmann Stainless Tubes - Walsin Lihwa, a stainless steel wire rod
and cable manufacturer in Taiwan, announced on November 1 that its
70%-owned... - more
Courtesy AISI - In the week ending on November 2, 2024, domestic raw
steel production was 1,629,000 net tons while the capability
utilization rate was 73.3 percent. Production was 1,671,000 net tons in
the week ending November 2, 2023, while the capability utilization then
was 72.7 percent. - more
Other News
Election to strongly impact freight economy - more
Boeing strike ends as workers accept new contract - more
US election result: 4 likely scenarios and how it may impact stock market investors - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Monday, November 4
Daily Nickel/Stainless Steel Briefing
Nickel closed Friday's trading
session at $7.25/lb ($15,980/tonne). Indicators at 5:35 am CST today show
nickel trading around $.01/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Friday and ended last week reading just over the 147,150 tonne level.
Shanghai nickel ticked higher to 124,720 y/t overnight. Nickel is quiet
this morning, with the US Dollar lower against the Euro and U.S.
elections taking place tomorrow. Your
average prices for October 2024 compared to September are as follows -
Nickel - $7.62/lb compared to $7.31/lb; Chromium - $5.60/lb compared to
$5.55/lb; Molybdenum - $22.30/lb compared to $22.26/lb. Stay safe out
there and have a great week!
Average price of LME traded cash nickel
so far this month
- $7.18/lb
Friday's market review - Copper gains on softer
dollar as US jobs growth data disappoints - Copper prices rose on
Friday as U.S. October jobs gain has firmed up chances of Federal
Reserve interest-rate cut ... - more
Nickel Market is Changing Big Time: Is a Supply-Demand
Shift Underway? - Nickel Industries, an Australian company, could
become one of the largest nickel resource holders in the world with its
strategic ... - more
Acerinox’s melting shop production grows in Q3 y-o-y -
Acerinox, a stainless steel manufacturer based in Spain, reported that
the company’s melting shop production totaled 491,000 tons in the third
quarter of ... - more
BIR Singapore 2024 - Stainless Steel & Special Alloys
Committee: Carbon taxes coming in 2026 expected to make scrap shine
- Questions around duties on EU imports impacted by the Carbon
Border Adjustment... - more
MEPS’s global steel mergers and acquisitions round-up
- Aperam’s purchase of Universal Stainless, a change in ownership
at Calvert and Acerinox’s sale of Bahru Stainless feature in MEPS
International’s ... - more
China hails mineral finds amid push for security of supply
chain, energy and nation - China has reported "prominent results" in
its hunt for green-energy minerals, with the Ministry of Natural
Resources saying ... - more
EU Steel Distribution faces continued weak demand, with
upward shift in price expectations - The EU steel and metals
distribution sector remains cautious as we approach the end of 2024.While current activity... - more
EUROFER: EU’s finished steel exports up seven percent in Jan-July - more
Russia's Rusal raises bar in Nornickel dispute with fresh
claims against Potanin - Aluminium giant Rusal, opens new tab has added
fresh claims to its legal dispute against Russian billionaire Vladimir
Potanin, ... - more
Other News
How One of the Tiniest Oil Markets Cost Trafigura Over $1 Billion - more
The Life Cycle Of An EV Battery: From Manufacturing To Recycling - more
Manufacturing Index Shows Contraction in October - more
Chinese solar firms go where US tariffs don't reach - more
Economic Stats and Prices (posted in Friday edition)
5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more
Friday, November 1
Daily Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $7.14/lb ($15,740/tonne). Indicators at 5:20 am CST today show
nickel trading around $.12/lb
higher. Stockpiles of nickel stored in LME licensed warehouses went
unchanged on Thursday and remain just over the 146,800 tonne level. For
the month of October, stockpile numbers rose from 131,178 to
146,820 tonnes. Shanghai nickel ticked higher to 124,050 overnight.
Nickel jumped sharply early this morning and after jumping over the
$16,000 tonne level, enthusiasm has tapered off. This could be an
attempt to start the new month with the price nearer the $16,000 tonne
level, or more likely, an attempt to force shorts to cover, which
drives the price higher, albeit rarely with any staying power. Either
way, after jumping nearly $300/tonne in just minutes this
morning, nickel is currently trading back below the $16,000 tonne
level. It's
the first day of the month and the last of the week. Thanks to our
sponsor, PA Inc,
we bring you another month of current news on the nickel and stainless
steel industries worldwide. If you have a need for high nickel alloy
and specialty stainless pipe and fittings, please consider giving P A
Inc a call or visiting their website. We thank them for their continued
support and we than you for visiting today. Stay safe out there, have a
great Friday, enjoy your weekend, and may November 2024 be one of the
most successful you have had in recent memory.
Average price of LME traded cash nickel
so far this month
- $7.62/lb (avg October)
Reports
Reuters metals morning - London copper gains on softer dollar but heads for weekly fall - more
Thursday's market review - Copper heads for monthly
decline as China stimulus disappoints - Copper prices on Thursday were
set for a monthly fall, weighed down by disappointment over the scale
and lack of ... - more
Top 10 Leading Stainless Steel Manufacturers in China
2024 - The stainless steel industry in China has witnessed remarkable
growth and technological advancement over the past decades,
establishing the .... - more
Europe’s slow growth to keep stainless prices under pressure - Europe’s
stainless steel producers will be targeting a greater share of their
domestic markets after import volumes were maintained amid .... - more
Stainless Steel Plate in Coils From Belgium: Final
Results of Antidumping Duty Administrative Review; 2022-2023 - The U.S.
Department of Commerce (Commerce) determines that Aperam Stainless
Belgium ... - more
Chinese steel plant: Zimbabwe's economic boon or
environmental nightmare? - Zimbabwe is aiming to be home to Africa’s
largest steel plant, but disputes over the project continue even as it
ramps up production. - more
Other News
China’s steel sector PMI rises to 54.6 percent in October - more
China's Top Solar Firms Post Big Losses as Oversupply Persists - more
Asia's factory activity stagnates, taking shine off rebound in China - more
A battery that can drive for 1200km and charges ultra-fast - more
Economic Stats and Prices (posted in Friday edition)
(all
ton listings are metric tons = 2204.622 pounds ) Updated Monday thru
Thursday before 7 am CST, Friday version before 8 am CST - DisclaimerOriginal 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.
Daily
Nickel/Stainless Steel Briefing 
($16,015/tonne). Indicators
at 5:20 am CST today show
nickel trading around $.02/lb 
Reports
Shanghai Metals Market
London Metals Market
Outokumpu publishes EPDs to reduce carbon
emissions - To
support its customers’ targets to reduce their carbon emissions from
supply chain, Outokumpu, a pioneer in sustainable stainless steel, has
.... - 
Election result
raises prospect of US steel price rise -
Donald Trump’s re-election as President of the United States has
prompted concerns that increased import tariffs will apply downward
pressure on steel ... - 
Thyssenkrupp to axe 11.000 jobs, reduce capacity -
Thyssenkrupp Steel says it will cut around 5,000 jobs in production and
administration by 2030. A further tranche of 6,000 jobs is to be
transferred to external ... - 
The light weighting advantages of stainless steel -
Stainless steel has been the old faithful of the automotive industry
for decades. Continuous reinvention has kept the material relevant
during the rise of .... - 
Слава Україні! - 
($16,200/tonne). Indicators at 5:40 am CST today show
nickel trading around $.03/lb 
Western Miner Eramet Sees No Profits in Nickel Without
Chinese Partners - The head of French miner Eramet’s Indonesian
operations has said it has become impossible for western companies to
run profitable ... - 
Acerinox gets all approvals for acquisition of Haynes in
US, expecting to close this deal by end-November - The Austrian
competition authorities have approved the purchase of Haynes
International by the ... - 
Battery Replacement Costs Are Poised To Plunge: 'Cheaper Than
Fixing An Engine' - The high-voltage battery is the lifeblood of an
electric vehicle. However, concerns about the long-term health of an EV
battery ... - 
World crude steel production for the 71 countries
reporting to the World Steel Association (worldsteel) was 151.2 million
tonnes (Mt) in October 2024, a 0.4% increase compared to October 2023.
- 
FIA arrests businessman for exporting soil instead of
minerals to China - The Cooperative Crime Circle of the Federal
Investigation Agency (FIA) has arrested a businessman for allegedly
sending soil and gravel .... - 
Steel Sensitivities: Aperam to Acquire Universal
Stainless & Alloy Products - Luxembourg-based stainless,
electrical, and specialty steel producer Aperam S.A. announced it will
acquire Universal Stainless & Alloy ... - 
Japan crude steel output drops nearly 8% y/y in October
on weak demand - In October this year, Japanese crude steel production
was up by 4.6 percent compared to the previous month and down by 7.8
percent .... - 
Taiwan’s Yusco & Tang Eng may benefit from current
stainless steel market - The current international steel market is weak
and the demand for stainless steel is sluggish. However, the Vietnamese
government ... - 
India's April-September steel imports led by China, govt
data shows - India's imports of steel over the period from April to
September were led by shipments from China, according to provisional
government data... - 
US to lift AD & CVD orders on refillable stainless
steel kegs from China, Mexico - On November 14, 2024, the US Department
of Commerce (USDOC) announced its final ruling of the first
anti-dumping (AD) and... - 
Mining industry to ‘push back strongly’ against Eskom’s
proposed tariff hikes – Pienaar - South Africa’s mining industry will
“certainly push back strongly” against Eskom’s proposed tariff hikes,
says Minerals ... - 
Marcegaglia doubles stainless production at Fagersta - In
Sweden, Marcegaglia produces around 60,000 mt of wire rod and aims to
double its total production with the bar and stainless wire rod
production. - 
Weak European stainless flats demand persists - The
European stainless flat steel market remains under pressure due to
persistent overcapacity and slow demand from buyers, sources from both
southern and ... - 
Exploration spending to stay flat despite Trump pledges,
strong gold prices, S&P says - The amount spent to find new mineral
sources may grow little next year, even if gold prices continue their
record run and .... - 
.
Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday
and started today's session reading just over the 151,300 tonne level.
Shanghai nickel fell to 125,870 y/t overnight. After falling well below
the $16,000 tonne level yesterday, nickel is quiet this morning, with
the Euro's fall against the US Dollar flattening out. While most
rallies are hard to understand, the reaction of the currency market to
the US election can explain this last one. When the Euro is slumping
against the U.S. Dollar, there is negative pressure on nickel as it
becomes more expensive to trade. Put a LME nickel graph next to a Euro
trading graph for the past week (or longer), and you will notice the
similarity. Where it is heading no one knows, but based on the
fundamentals, there is little reason to think it will spend much time
above the $16,000 tonne level anytime soon... although the bulls will
continue to try. Stay safe out there and have a great hump day!! 
Russia’s stainless steel imports decrease in Jan-Jun
y-o-y - According to statistics from the Russian Special Steel and
Alloys Consumers and Suppliers Association (USSA), Russia imported
around 227,000 tons... - 
Walsin Lihwa’s Italian subsidiary completes acquisition of
Mannesmann Stainless Tubes - Walsin Lihwa, a stainless steel wire rod
and cable manufacturer in Taiwan, announced on November 1 that its
70%-owned... - 
Stainless Steel Plate in Coils From Belgium: Final
Results of Antidumping Duty Administrative Review; 2022-2023 - The U.S.
Department of Commerce (Commerce) determines that Aperam Stainless
Belgium ... - 
Chinese steel plant: Zimbabwe's economic boon or
environmental nightmare? - Zimbabwe is aiming to be home to Africa’s
largest steel plant, but disputes over the project continue even as it
ramps up production. - 
