This page is archived news covering the period of October 2017
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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

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Tuesday, October 31

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.30/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started today just over the 381,900 tonne level. If you don['t think the pep rally at LME Week is working, you should look at the sea of red in commodities trading this morning - except for a patch of green in the base metals trading section. Nickel continues to be the belle of the ball, and we were surprised to see in the photo below, someone out there is apparently forecasting prices to fall. What? Nickel ends the month averaging $5.13/lb, up from an average of $5.10/lb in September. Looking at a chart of monthly average prices only, one might suspect the bullish euphoria of late summer and early fall, is starting to wane. But ,as Guy Wolf at Marex Spectron told LME Week attendees earlier, fundamentals do not matter and perception is very important. We appreciate his honesty. Looking at nickel stockpiles starting the last day of September to today's reading, we see the month of October saw a net gain of 36 tonnes. In other words, no change. Euro is quiet against the US Dollar, while the Yuan bounced late yesterday. Steel futures in Shanghai rose slightly, but remain well of their monthly high.
  • Average price of cash nickel so far this month - $5.13/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper gains as dollar slips - more

  Reports

  • Crude Steel Production by WSA Member Countries in September 2017 - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Guy Wolf of Marex Spectron at LME Week - EVs will have an “incredibly small impact on the nickel market in the very short term”. .....But perception also more important- ie Indonesian export ban - because “fundamentals don’t matter” for nickel....  In July-Aug, 64% of nickel liquidity pool on LMEselect were 1 lot trades, says Marex Spectron. Only 9% were 5 lots or more.
  • Euro Drops as Inflation Slows; Stocks Extend Gains: Markets Wrap - more

     Copper rises from two-week low as dollar retreats - Copper rose on Monday, pulling away from the previous session’s two-week low as a retreat in the dollar after its biggest one-week gain this year tempted buyers back to the metal. - more

     Electric cars set world's nickel miners on new course - Battery makers are increasingly turning to nickel to help power growing global electric car sales, but only half of the world’s producers of the metal are likely to benefit, mining analysts and executives say. - more

     One Metal Will Be Transformed by the Electric Car Boom - Glencore Plc and Trafigura Group Pte are often at loggerheads, but one thing they agree on: the nickel market will be transformed by the rise of electric cars. - more

     Nickel: The Secret Driver of the Battery Revolution - Commodity markets are being turned upside down by the EV revolution. But while lithium and cobalt deservedly get a lot of the press, there is another metal that will also be changed forever by increasing penetration rates of EVs in the automobile market: nickel. - more

     Norilsk Nickel reduced 9-month nickel production by 11% - In January-September 2017, PJSC MMC Norilsk Nickel reduced nickel production by 11% year-on-year to 157.1 thousand tonnes, the company informed. - more

     Nickel Next for Electric Car Boom as Trafigura Turns Bullish - Glencore Plc and Trafigura Group Pte are often at loggerheads, but one thing they agree on: the nickel market will be transformed by the rise of electric cars. - more

   FNI completes 2017 nickel ore shipment - Global Ferronickel Holdings, Inc. has completed its 2017 nickel ore shipments, recording higher volume shipped compared to 2016 and 2015. - more

     LME Pushes For New Product Launches, Reduced Fees and Added Enhancements - In H2 2018, LME plans to introduce trade-at-settlement (TAS) functionality on LMEselect, which will allow LMEprecious reference prices to be traded electronically. - more

     Metals start to shine as miners find new optimism - As an annual jamboree for metal traders kicks off in London, investors are daring to believe a change is in the air. “This will be the first time in five years that people will be coming with a spring in their step,” says Guy Wolf, head of market analytics at commodities broker Marex Spectron. - more

     Courtesy AISI - In the week ending on October 28, 2017, domestic raw steel production was 1,739,000 net tons while the capability utilization rate was 74.6 percent. Production was 1,655,000 net tons in the week ending October 28, 2016 while the capability utilization then was 70.8 percent. The current week production represents a 5.1 percent increase from the same period in the previous year. Production for the week ending October 28, 2017 is up 0.5 percent from the previous week ending October 21, 2017 when production was 1,731,000 net tons and the rate of capability utilization was 74.3 percent. - more

  Morning Nickel Price Statistics & Figures

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

Monday, October 30

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.25/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the week just under the 382,900 tonne level. LME Week began today and metals trading is quiet in response. Nickel fell sharply on Thursday and Friday, and ended at its lowest in two weeks. Based on what we are reading, nickel will be the bell of the ball this year at LME Week, as analysts try to figure to if all the EV talk will be as big a boost to the market as some have prophesied. Whether they prove to be true or not, the market appears to be betting on the rumors, with nickel averaging $4.43/lb for the first six months of this year, $4.77/lb for the third quarter, and $5.12/lb so far this month. As you can see two lines down, that is still lower than 2015 back, so there is plenty of speculation room left. Chinese steel futures were blamed for last weeks sudden dip, and if that is what the market is using as a gauge these days, then they are lower again today. The Euro and Yuan also fell against the US Dollar late last week, and neither are doing much recovering this morning. We hope you each have a profitable and enjoyable week.
  • Average price of cash nickel so far this month - $5.12/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper near 2-week low on firm dollar - more

  Reports

  • Global EV Outlook 2017 - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • It’s time for metals to shine: Electric car boom sets new heights for demand - more
  • Brent Oil Back Above $60 Level - more
  • Market Scope: Following Shares of DJ-UBS Nickel TR Sub-Idx ETN Ipath - more
  • Will China’s Steel Production Take the Sheen Away from Iron Ore Prices? - more
  • Bloomberg - The S&P Global Platts China Steel Sentiment Index slumped to 33.61 this month from 60.87 in September. The gauge is based on a survey of 75 to 90 China-based market participants including traders and steel mills.
  • Wall Street Journal Publishes AIIS Steel Comment: Chinese Steel Overcapacity: A World Problem - more
  • The MEPS World Average Steel Price Declines, in October, Despite Electrode Supply Shortage - more
  • Stocks Mixed, Euro Gains; Dollar Drops Before Fed: Markets Wrap - more

     Stronger dollar sends copper prices lower - Copper prices declined for a third day on Friday and most other industrial metals also fell after the U.S. dollar hit a three-month high, making metals more expensive for holders of other currencies. - more

     Why Copper’s Rally Might Just Be Getting Started - From Collin Kettell: In this interview, metals analyst Anthony Milewski discusses how the London Metal Exchange gathering takes place this week. It is a meeting of all of the producers and consumers for base metals in London. - more

  • LME Considers New Nickel Contract to Tap Electric Cars Boom - more
  • The ghost of copper past haunts LME's party week: Andy Home - more

     Finance chief: All mining sites to be reviewed under Duterte - The interagency Mining Industry Coordinating Council (MICC) will conduct a biennial review of mining operations nationwide, such that all sites will be covered before the end of the Duterte administration. - more

    Norilsk Nickel lifts Q3 nickel output by 10% q/q - The world’s largest producer of refined nickel and palladium, Norilsk Nickel, on Monday reported a 10% quarter-on-quarter increase in its nickel output, but said third-quarter copper and platinum group metals production had declined. - more

  • Russia's Nornickel sticks to 2017 output forecast after strong quarter - more

     Nickel ore, a liquid threat to dry cargo vessels - Under certain conditions, dry cargo may become a semi-solid or liquid, affecting the stability of the ship - more

  • How a perfect storm swallowed the Emerald Star  - more

     Vale's Production Volumes of Mn Ore, FA, Ni and Co in Jul-Sept 2017 = Production of manganese ore, ferroalloys and nickel is down = On October 18, Vale S. A., a major resource company in Brazil announced its production volumes of manganese ore, ferroalloys, nickel and cobalt in the period from July to September in 2017. - more

     Miners take risks with DRC operations - The Democratic Republic of Congo (DRC) is both vast and mineral rich. - more

     For Gov. Mark Dayton, policy and politics aligned on controversial PolyMet project - Since Gov. Mark Dayton came out in favor of a controversial proposal by PolyMet to mine copper, nickel and other precious metals in northeastern Minnesota, he and his allies have said that his support is guided by sound environmental and economic policy - not politics. - more

    ‘The President’s Keepers’ extract - 'He is a gangster like us': New book reveals Zuma's 'darkest secret' - This is an exclusive extract from Jacques Pauw’s ‘The President’s Keepers’, which delves into a world of lethal criminals: the men who keep this toxic president in power - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 26

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.38/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $,02/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started the day just under the 356,000 tonne level. The $12,000/tonne level, once a psychological barrier, is starting to look like a technical resistant level, after traders have failed twice to maintain a traded price above this level. We still have resistance at $5.50/lb. The 10 day MVA is starting to catch up with the current traded price and that is worth watching as well. The Euro offered commodities some positive momentum yesterday, but nickel slipped. That support is waning today, with the Yen quiet this week. Lot of market news today, as well as a commentary by Reuters's Andy Home. India has slapped some more anti-dumping penalties on foreign stainless steel, with the US included among the penalized. It's been a good week for industry news and except for an internet glitch yesterday, we enjoyed linking to a lot of valuable information. This is our final update for the week, and we thank you for your visit and hope you have a safe and enjoyable weekend.
  • Average price of cash nickel so far this month - $5.11/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London aluminium hits over 5-year high on China supply cuts - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Marex Tweet - Nickel interest appears to have faded with light turnover -59% on 20-day avg
  • The challenges ahead for the steelmaking materials markets - more
  • Half of Employees Don’t Feel Respected by Their Bosses - more
  • (Reuters) Growing demand from battery-makers will exacerbate "the predicted structural shortage of nickel between now and 2025," research house Wood Mackenzie said.
  • What is Chinese Overtime? - more
  • Stocks Steady, Bonds Edge Higher as ECB in Focus: Markets Wrap - more

     Copper prices steady as stock market momentum stalls - Copper steadied on Wednesday after two days of gains as stock markets slid after a series of record highs, pointing to a more cautious mood among investors. - more

     Nickel the latest metal to feel the electric vehicle buzz: Andy Home - First it was lithium. Then it was cobalt. And now it is nickel’s turn in the electric vehicle spotlight. - more

     China's Jinchuan eyes new nickel, cobalt project to tap electric vehicle boom - Jinchuan Group, China’s top nickel producer, will next year start building a new project in Guangxi that will produce raw materials for electric vehicle (EV) batteries, its chairman said, looking to tap the sector’s “explosive” demand. - more

     BHP's Production of Nickel and Molybdenum in Jul-Sept 2017 = When compared with prior period, production of nickel is down but production of molybdenum is up = On October 18, BHP Limited (BHP) announced its production results and sales volumes in the period from April to June and from July to September in 2017. - more

    Nickel Asia expects to end 2017 with better earnings than last year - Nickel Asia Corp., the country’s largest producer of lateritic nickel ore and one of the largest in the world, is expecting to end 2017 with better earnings after a steep fall of 3.4 percent last year. - more

     Lin Ji En Nickel Industry says lawsuit regarding loan contract dispute - Ji Lin Ji En Nickel Industry Co Ltd * Says Jilin branch of China Huarong Asset Management Co Ltd filed a lawsuit against the co and two other firms, regarding loan contract dispute - more

     India slaps anti-dumping duty on some stainless steel imports from China, EU, US - In a bid to protect local steel manufacturers from cheap imports, the Indian government has imposed anti-dumping duty on certain stainless steel products from China, the United States, South Korea and European Union. - more

     Paperwork delays Sudbury mining trial - The Ontario Court of Justice trial looking into a fall of ground at First Nickel Inc.'s Lockerby Mine in May of 2014 that claimed two lives is on hold until mid-January. - more

     Independence Group mulls nickel, cobalt downstream processing - Diversified miner Independence Group has formally started investigating a move into downstream processing, as it looks to capitalise on the electric vehicles thematic driving many commodity prices higher. - more

     Sherritt's CEO David Pathe on Q3 2017 Results - Earnings Call Transcript - Good morning, ladies and gentlemen. Thank you for standing by. Welcome to today’s Sherritt International Corporation Third Quarter 2017 Results Release Conference Call and Webcast. - more

     Outokumpu - Third-quarter earnings burdened by raw material-related losses. Group adjusted EBITDA at EUR 56 million - Outokumpu’s third-quarter adjusted EBITDA amounted to EUR 56 million, compared to EUR 116 million in the third quarter of 2016. - more

     Nickel-containing stainless steel in high speed trains - As the demand for mass transportation burgeons around the world, railway companies are looking for new solutions to address the increasing challenges of moving more people quicker than ever before. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 25

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.44/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just under 388,000 tonnes. More and more metals analysts are jumping on the demand to get out of hand band, thanks to the forecasted increase in EV vehicles. In the mean time however, nickel stockpiles are not falling. Stockpiles held in LME licensed warehouses started the year at 372,066 tonnes and after hitting an annual high last month at 389,148 tonnes, they sit just under the 388,00 tonne level today. So while the International Nickel Study Group announced yesterday we are looking at our third year of 'demand outstripping supply' for a third year in 2018, we caution our readers before taking the bait. The numbers are not there, yet. They may come, and if the EV industry catches fire, like so many hope it does, then we will see a large increase in demand. Whether the nickel market can keep up with that demand, 'as it is now', we will have to wait and see. We remain skeptical on how fast the EV market will catch on in the US, less so in Europe where high fuel prices could make the EV more attractive, and we were disappointed it did not play a larger role in China's new five year plan. The latter still could announce something big in the future, which has the capacity of making the nickel market take serious notice, but it hasn't come yet. The sky is not falling, so the Chicken Little's out there need to give it a rest. Nickel is backing off the psychologtical resistance level of $12,000/tonne today, but we see no reason for bullish traders to be concerned.
  • Average price of cash nickel so far this month - $5.09/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper eases below $7,000 as dollar strengthens, shares stall - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (China) Steel demand growth to stay flat next year - more
  • MEPS EU Annual Average Steel Price in 2017 to Reach Six-Year High- more
  • (Reuters) Tangshan already required its steel mills, cement and other plants to cut output from Oct. 12, a month earlier than schedule. The production cuts will last until March 2018.
  • Treasuries Extend Drop With Havens; Metals Decline: Markets Wrap - more

     Copper price hits one-week high on global growth hopes - The price of copper hit a one-week high on Tuesday while other metals also gained as the dollar dipped and investors remained optimistic about global economic growth prospects, al though risks of a slowdown remained, especially in top consumer China. - more

     Deepening nickel deficit forecast as EV market booms - As the world speeds ahead with a move towards more electric vehicles (EVs), including hybrids, plug-ins and full electric cars, the nickel market is heading for deepening deficits, falling stocks and rising prices. - more

     Philippines environment minister hopeful for end to open-pit mining ban - The Philippines’ environment minister said he was hopeful that a ban on open-pit mining would be lifted before the end of the year after a government panel recommended its removal on Tuesday. - more

     Global nickel market seen in third year of deficit in 2018 – INSG - Global demand for nickel is expected to outstrip supply for a third year running in 2018, as demand from the stainless steel industry expands and production of nickel-containing batteries grows, the International Nickel Study Group (INSG) said on Tuesday. - more

      Ten crew still missing from sunken nickel ore carrier - Dry bulk shipowners’ association Intercargo says it is deeply concerned with the tragic loss of the 57,000dwt bulk carrier Emerald Star on the morning of Oct 13 with 26 seafarers on board. - more

     Minnesota governor now supports PolyMet copper-nickel mine - Minnesota Gov. Mark Dayton says he’s moved from being “genuinely undecided” on the proposed PolyMet copper-nickel mine to being a genuine supporter of the project. - more

     Former Queensland Nickel boss Clive Mensink could avoid liquidators because he has been overseas for so long - Fugitive former Queensland Nickel boss Clive Mensink has been overseas for so long he may now be considered a foreign resident, making it harder for liquidators to get money out of him. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 24

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.38/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses slipped on Monday and started the day just under the 385,300 tonne level. Nickel traded prices have seen a break from the US Dollar versus the Euro and Yen charts and while the latter are stagnant, nickel prices are on the rise again. After an unsuccessful test of the $5.49/lb test on Friday, price are approaching that level cautiously again. Technicals remain mostly positive. US stainless steel surcharges for November have been published and they are down from October (surcharge comparison here). The International Stainless Steel Forum report stainless steel production in the first half of 2017 was 5% higher than the first half of 2016. .The World Steel Association is announcing steel production in September was its lowest since February on China pollution cuts. Australia ocean watchers are issuing a La Nina Watch.
  • Average price of cash nickel so far this month - $5.07/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper hits one week high on global growth hopes - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Xi's China a boon for mining - more
  • Tweet - China Sept refined nickel imports down 37.6% y/y at 18,319 tonnes
  • Dollar Extends Gain; Europe Stocks, Bonds Decline: Markets Wrap - more
  • La Niña WATCH activated - more

     Zinc gains as Chinese output falters ahead of winter shutdowns - Zinc prices rose on Monday after data showed output in China slipped in September, highlighting worries that winter production cuts are tightening supplies of metals. - more

     Philippine panel recommends lifting ban on open pit mining - A Philippine government panel on Tuesday recommended lifting the ban on open pit mining and the environment minister said he will support removing the restriction imposed this year by a previous minister and supported by President Rodrigo Duterte. - more

     French miner Eramet sees improving nickel demand - French miner Eramet said on Tuesday that it expects a significant increase in current operating income for 2017 due to progress in cutting costs, increasing productivity and rising nickel prices. - more

  • Electric vehicle ambitions spark race for raw materials - more

     Stainless Steel Production Reached 23.3 Million Metric Tonnes in the First Half Year of 2017 - Brussels 23 October 2017 – The International Stainless Steel Forum (ISSF) has released figures for the first half year of 2017 showing that stainless steel melt shop production increased by 5.0% year–on–year to 23.2 million metric tons. - more

     September 2017 crude steel production - World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 141.4 million tonnes (Mt) in September 2017, a 5.6% increase compared to September 2016. - more

     Andrew Miller: Why Nickel Has Been “Overlooked” in the Battery Space - Speaking with the Investing News Network at Cathodes 2017, Benchmark Mineral Intelligence Senior Analyst Andrew Miller shared his thoughts on the nickel and graphite markets. - more

     Antam Gets Nod for Extra 1.25 Million Tons of Nickel Ore Exports - Jakarta. State-controlled miner Aneka Tambang, or Antam, received a recommendation from the Ministry of Energy and Mineral Resources for an additional 1.25 million metric tons of nickel ore exports over the next 12 months, chief executive Arie Prabowo Ariotedjo said on Tuesday (24/10). - more

     Barrick Gold’s nickel mine could become a ski resort - Barrick Gold’s old Mascot Giant nickel mine, which closed in 1973 and is located near Hope, British Columbia, could soon become a ski resort, says a news story published today in The Province. - more

     Courtesy AISI - In the week ending on October 21, 2017, domestic raw steel production was 1,731,000 net tons while the capability utilization rate was 74.3 percent. Production was 1,655,000 net tons in the week ending October 21, 2016 while the capability utilization then was 70.8 percent. The current week production represents a 4.6 percent increase from the same period in the previous year. Production for the week ending October 21, 2017 is down 0.7 percent from the previous week ending October 14, 2017 when production was 1,744,000 net tons and the rate of capability utilization was 74.8 percent. - more

     ‘I support the project,’ Mark Dayton says of the PolyMet mining proposal  - Minnesota Gov. Mark Dayton has moved from being “genuinely undecided” on the proposed PolyMet mine to being a genuine supporter. - more

  Morning Nickel Price Statistics & Figures

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

Monday, October 23

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.32/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and fell on Friday, and starts the week just over the 385,950 tonne level. Nickel got a little too exuberant on Friday, jumping to $5.52/lb in an attempt to test resistance, which held, and nickel collapsed back to register a loss of $5/tonne on the day. One metals firm blamed short covering on the sudden spike, but it tested resistance for about 6 hours, before giving up. Another unsuccessful attempt could send a negative technical signal to traders. As it stands, except for an overbought warning being sent by the stochastics readings, other technicals remain mostly positive. Lot of talk about production cuts in Chinese steel helping the market. Really haven't seen anyone give a good reasoning on why cuts in steel production in China will boost demand for nickel there, but we can guess they are assuming if you taking Chinese pig nickel off the table, producers in other countries will be forced to turned to refined nickel. In our opinion, that is a pretty big gamble. The Chinese Communist Party ended its 5 year planning meeting with no gang buster announcement on a plan to switch to electric power vehicles.
  • Average price of cash nickel so far this month - $5.05/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Zinc gains as Chinese output falters ahead of winter shutdowns - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Global Construction Sector Bears the Brunt of Recent Steel Price Hikes - more
  • Vale Reaches Q3 Iron Ore Production Record - more
  • Hamza Khan, head of commodities strategy at ING - "Chinese crude steel output has dropped 4% month-on-month to 71.8mt in September 2017, and with winter cuts taking place, output could remain under pressure over the fourth quarter as well."
  • The massive impact of EVs on commodities in one chart - more
  • Euro Drops, Bonds Gain as Spain on Edge; Dollar Up: Markets Wrap - more

     Nickel hits six-week high as investors see wider deficits - Nickel prices hit a six-week high on Friday, helped by expectations that market deficits will widen in the future, while copper gained on an optimism demand will grow in top consumer China. - more

     Nickel: Deficits not enough to prevent slide in prices - TDS - Analysts at TDS, explain that Nickel prices rallied above the $12,000/t mark on Friday amid reports of widening deficits, news that production at Brazil’s Vale fell 4.3 percent year on year in the last quarter and dropping LME/Shanghai on warrant inventories, all of which led to a bout of short covering. - more

  • China steel output fall heralds winter, iron ore trade hit: bank - more

     China's Jinchuan eyes new nickel, cobalt project to tap electric vehicle boom - Jinchuan Group, China’s top nickel producer, will next year start building a new project in Guangxi that will produce raw materials for electric vehicle (EV) batteries, its chairman said, looking to tap the sector’s “explosive” demand. - more

     Market Trend of Import of Ferroalloy as of 13 October 2017 = Various regulations are enhanced in China before National Congress = The 19th National Congress of the Communist Party of China will be held in Beijing from October 18. This is an once-in-5-year congress, and the operation of plants in Beijing, Hebei and its vicinity has been regulated for the purpose of reducing air pollution before the congress is held. - more

     AMR Launches Strategic Review for Ban Phuc Nickel Mine in Vietnam - Asian Mineral Resources Limited today announces that its Board of Directors has initiated a strategic review process to explore its options with regard to the Ban Phuc Nickel Mine in Vietnam with the goal of enhancing shareholder value. - more

     Tanzania miners watch and wait on bid to overturn ore export ban - Tanzania-focused explorers are closely watching a deal between the world’s biggest gold miner and the East African nation to settle a six-month dispute over ore exports. - more

     Resource nationalism as imperialism - Over the past decade, foreign investment in large-scale mining has been hampered by the enactment of Law No. 4/2009 concerning mineral and coal, which replaced the more liberal Law No. 11/1967. - more

     Dangerous intersection of law, politics, business and human rights - Some argue that the expansion of industry responsibility for human rights is disastrous to the business model, but most players realize profits at the expense of corrupt behaviour, environmental degradation or in violation of human rights are no longer tolerable. - more

     FNX founder headed to mining hall of fame - A local mining legend is joining Canadian Mining Hall of Fame. Terry MacGibbon will be inducted Jan. 11, along with Ross Beaty, Bob Gannicott and Ed Thompson. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 18

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.343/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and started the day just over the 385,200 tonne level. While the US Dollar is trading mostly flat against the Yen and Euro, the commodity complex, as a whole, is a mostly field of red this morning. Nickel is bucking the board and is trading positively at the moment, but just barely. Top executives at Rio Tinto have been charged with fraud here in the States - jaw dropping news that has the industry paying close attention. China's Community Congress 5 year meeting is now in session, and will learn about and confirm the party's 5 year plan. As the single biggest driver for the traded price of nickel, industry experts will be watching the Congress' announcement's closely. The International Nickel Study Institute reported the world deficit rose to 6,700 tonnes in August, so with 385,200+ tonnes in LME trading warehouses, it will need to increase a whole lot more before the deficit in production becomes a price factor concern. BHP wants more nickel assets, and Vale wants a partner, or completely out, of its mega mine in New Caledonia. If the future outlook for nickel is as bright as some miners would have us believe, then a transaction  should take place quickly.
  • Average price of cash nickel so far this month - $4.97/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper slips, optimism for Chinese demand supports - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Schaff Cycle Trend on Watch For DJ-UBS Nickel TR Sub-Idx ETN Ipath - more
  • Stocks Gain as Euro Slips; Dollar Pushes Higher: Markets Wrap - more

     Zinc hits three-week low as inventories rise and dollar firms - Zinc prices slipped to their lowest level in over three weeks on Tuesday as the dollar strengthened and inventories rose, highlighting concern that increasing supply would ease shortages. - more

     Global nickel market deficit widens to 6,700 tonnes in August - INSG  - The global market for nickel swung into a wider deficit of 6,700 tonnes in August from the month before, data from the International Nickel Study Institute showed on Wednesday. - more

     Demand for electric car batteries will drive a nickel renaissance, says expert - Demand for electric car batteries will have a major impact on the beleaguered nickel industry — but it won’t happen overnight or even next year, a commodities expert says. - more

     Global Stainless Steel Output, Demand See Sharp Rebound in 2016 - The latest yearly statistics published by the World Bureau of Metal Statistics (WBMS) indicates that world production and consumption of stainless steel rebounded significantly in 2016. - more

     Vale in talks to sell stake in New Caledonia nickel operations - Vale is working with Scotiabank to find a partner to invest in one of the world’s biggest nickel mines on the south Pacific island of New Caledonia, Financial Times reports. - more

     China ETF Surges as Smog-Clearing Drive Boosts Commodity Stocks - China’s anti-pollution drive is brightening more than its smoggy skies. The Global X China Materials ETF has delivered a 56 percent return this year as inefficient and illegal production in the Asian nation is shut down, giving companies in the exchange-traded fund healthier profit margins and more breathing room to expand output. - more

     BHP to accelerate nickel project as interest spikes - BHP may bring forward development of stage two of its nickel sulphate plant at the Kwinana Refinery in Western Australia with interest in the product exceeding expectations. - more

      India imposes anti-dumping duty on flat steel imports from China, EU - India on Tuesday said it had imposed an anti-dumping duty on the import of some flat steel products from China and the European Union for five years to curb the influx of cheaper imports and help local producers.  - more

     Rio Tinto, Former Top Executives Charged With Fraud - The Securities and Exchange Commission today charged mining company Rio Tinto and two former top executives with fraud for inflating the value of coal assets acquired for $3.7 billion and sold a few years later for $50 million. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 17

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.38/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and started the day just over the 385,600 tonne level. Nickel is faltering this morning, but it appears to be part of a larger step back, due in part to a stronger US Dollar against both the Euro and Yuan. China's once every five years Communist Party Congress begins its meeting tomorrow and all eyes are turned to see if they come out with any surprises.
  • Average price of cash nickel so far this month - $4.94/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Zinc hits two-week low as inventories rise and dollar firms - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Kobe Steel plants faked quality data for decades - Nikkei - more
  • Don't Panic: China's Debt Crackdown May Actually Be Good for Bonds - more
  • Network video surveillance provides mining intelligence - more
  • China's Sept iron ore aberration boosts smaller exporters: Russell - more
  • Star Commodities Investor Says 'Fortune To Be Made' In The New Commodities Bull Cycle - more
  • Asian Stocks to Gain as Fed Chair Talk Hits Bonds: Markets Wrap - more

     Copper rises through $7,000/T on upbeat China economy - Copper prices broke through the $7,000 a tonne mark for the first time in three years on Monday as a number of pieces of economic data, including from top consumer China, fuelled optimism about demand. - more

     BHP’s entry into nickel sulphate ‘well timed’, cobalt sulphate may be next - Mining major BHP is reviewing the timing of its Stage 2 nickel sulphate plant at the Kwinana refinery, in Western Australia, on the back of high demand. - more

     BHP may expand nickel push - BHP has flagged it could double down on its foray into supplying nickel chemicals into the electric vehicle market. - more

     Norilsk Nickel, polluting giant, declares new age of eco-transparency - Norilsk Nickel, the Russian Arctic’s industrial giant, tried to break from its environmentally hostile history by inviting Bellona to an ecological conference where it held discussions of its emissions cutting schemes and its apparent new openness. - more

     Courtesy AISI - In the week ending on October 14, 2017, domestic raw steel production was 1,744,000 net tons while the capability utilization rate was 74.8 percent. Production was 1,655,000 net tons in the week ending October 14, 2016 while the capability utilization then was 70.8 percent. The current week production represents a 5.4 percent increase from the same period in the previous year. Production for the week ending October 14, 2017 is up 0.2 percent from the previous week ending October 7, 2017 when production was 1,741,000 net tons and the rate of capability utilization was 74.7 percent. - source

     Australian Nickel Conference 2017 - presenters - more

  • Panoramic Resources presentation - pdf here

     Clive Palmer: Brisbane Supreme Court hearing over Queensland Nickel collapse - A Supreme Court judge has dismissed Clive Palmer’s application to adjourn a hearing of a liquidator’s application to freeze more than $200 million of his assets. - more

     Why save the small town? - The old mine isn’t far from downtown. After nearly a century carving molybdenum from the land around Questa, today the only mining-related jobs in this northern New Mexico hamlet are restoring what miners spent the last 100 years taking apart. - more

  Morning Nickel Price Statistics & Figures

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

Monday, October 16

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.30/lb . Indicators at 5:45 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell slightly on Thursday and gained most of the drop back on Friday, so our numbers are just under the 385,800 tonne level to start the week. Nickel is once again trading above its 10, 30 and 100 day moving averages, and trading at its highest since September 12th. The bull run last peaked out at $5.56/lb, so we could be trading at a new two year high this week. Another nickel ore ship has gone down. The Euro and Yuan are quiet so far, so they are neither assisting or hurting commodity traders. Copper is trading at its highest in 3 years, and this is helping other base metal trading. As a reminder, nickel is being boosted by multiple things. China steel production is up, while their so called pig nickel supply is being tampered by an attempt to cut pollution. This has been attempted on numerous occasions prior but the country seems to be taking the effort a lot more seriously this round. We also have the speculation that a worldwide shift to battery operated automobiles could seriously increase demand and push suppliers to keep up. It is hard for those of us in America to understand the potential for this market, but anyone who travels to Europe or Asia, understands that the potential for a real boom exists. Nickel, like nearly all commodities, operates on a cyclical boom and bust period. It has been five years since nickel traded at $20,000/tonne ($9.07/lb) and while there is no reason to speculate we could be trading there again anytime soon, an announcement later this week from China that they want to shift all personal vehicles to battery power within 10 years, could see nickel getting some serious attention. When was the last time you heard of anybody planning, building, or opening what we like to call a mega mine? This is what typically happens during a bust period. Hard to convince investors on the risk of building a new mine when prices have been low for so long. Yes there are current mines that could re-open and expand, but a true boom period eats up this extra supply and wants more. So no, we are not calling for a boom period on the near horizon. But one will come some day. For today, nickel stockpiles continue to run ahead of where they started the year, so much of what we are seeing in the market, is more speculation than based on any sudden tip n the supply.demand equation shifting. Earlier than usual update again today.
  • Average price of cash nickel so far this month - $4.90/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper hits 3-year high, breaking $7,000/T, on rosier China economy - more

  Reports

  • Damstahl Stainless Steel Report - October 2017 - pdf here
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China Iron Ore Demand Robust In September - more
  • Iron Ore Rallies as China Imports Bust 100 Million Ton Level - more
  • Metal supplies and the demand for electric vehicle batteries - more
  • Philippines' Duterte lifts suspension on gold miner Lepanto - more
  • worldsteel Short Range Outlook 2017/2018 - more
  • Stocks Rise as Oil and Copper Surge; Euro Weakens: Markets Wrap - more

     Nickel hits one-month high on bets of looming Chinese output cuts - Nickel prices hit a one-month high on Friday on concerns China might order further output cuts as it ramps up efforts to clean its skies, while aluminium gave back gains after rising on news a Chinese city had ordered capacity reductions. - more

     Bulker Carrying Nickel Ore Sinks Off Philippines - In the early hours of Friday morning, the 33,000 dwt bulker Emerald Star capsized and sank at a position about 325 nm south of Ishigaki Island, Japan. - more

     China's Import and Export Results of Nickel in August 2017 - According to the foreign trade statistics of China, the import and export results of nickel-containing products in August 2017 are as per the table below. - more

     Philippines Nickel Ore – 14 mining firms still operating despite suspension order - Further to our previous web alert, the club’s correspondents in the Philippines (Claims Services P&I Management Co Inc) have issued the attached circular advising that 14 mining firms are still operating despite the suspension order earlier this year by the Philippines Department of Environment and Natural Resources (DENR). - more

  • Jaipur man missing in capsize off Philippines - more

     Write-down risks loom for Sumitomo's nickel, tire ops - Stock market watchers are starting to worry about impairment risks facing Sumitomo Corp. on its nickel-mining and tire businesses, which may upset the Japanese trading house's forecast for profit growth this fiscal year. - more

     Tourist site near an open mining pit - Just a hundred meters from the shoreline of Hinatuan beach in Surigao del Sur lies a future tourist attraction being built by an unexpected group — a coastal resource management team working for Nickel Asia Corp. (NAC), the largest nickel producer in the country. - more

     Environmentalist's comments about miners in New York Times Magazine story cause uproar on Iron Range -  A story in this Sunday’s New York Times Magazine has exploded already simmering tensions between environmentalists and mining advocates on the Iron Range. - more

  • DFL candidates forced to walk a fine line on mining issues - more
  • DFL’s mining split sets up new election hurdles - more
  • Our Views: Returning the copper-nickel debate to a respectful place - more

     Clive Palmer loses appeal to stop legal battle with Queensland Nickel liquidators - Embattled businessman Clive Palmer has lost an appeal to halt his legal battle with Queensland Nickel liquidators who are attempting to freeze more than $200m of his personal assets. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 12

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.05/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just over the 385,800 tonne level. The Euro and Yen are just slightly off weekly highs this morning against the US Dollar, but not enough apparently to spook traders. We show technical resistance now at $5.50/lb, giving nickel bulls a lot of room to run. Most technical signals are sending positive signals. At least one scrap news source is reporting a glut of scrap metal in the US due to the recent wave of hurricanes. China's Congress will meet next week and watched closely for any notable changes in policy that might affect metals usage. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $4.84/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper rises to 1-month high as softer dollar lifts metals - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • KC - Malaysia imposes provisional stainless CRC duties
  • Bonds Rise, Dollar Drifts on Fed Inflation Debate: Markets Wrap - more

     Copper rises to one-month high ahead of China party congress - Copper rose on Wednesday to a one-month high, helped by a weaker dollar ahead of the release of the minutes of a U.S. Federal Reserve meeting, with investors looking to a party congress in top metals consumer China due to begin next week. - more

     UMMC says development of two Voronezh nickel fields reasonable - Russia’s Ural Mining and Metallurgical Company has acknowledged industrial development of two nickel fields near the city of Voronezh – the Yelanskoye and Yelkinskoye fields – with reserves of about 1 million tonnes reasonable, UMMC said in a statement late on Wednesday. - more

     In Northern Minnesota, Two Economies Square Off: Mining vs. Wilderness - Minnesota is home to some of the world’s most ancient rocks, as old as 3.5 billion years. Earth has been around for only 4.5 billion years. - more

     Scrap Supply Glut is Harvey's First Metals Impact - The series of storms that ravaged the United States over the past two months will have a tremendous effect on the U.S. economy in multiple ways. - more

     Analysis: Metal supplies unlikely to seriously hamper battery use - The dramatic rise in production of electric vehicles, coupled with expected growth in the use of grid-connected battery systems for storing electricity from renewable sources, raises a crucial question: Are there enough raw materials to enable significantly increased production of lithium-ion batteries, which are the dominant type of rechargeable batteries on the market? - more

     Queensland Nickel case: Clive Palmer’s brother-in-law delivers three boxes of documents - Clive Palmer’s brother-in-law has hand delivered documents to the Federal Court on behalf of the beleaguered resource mogul’s personal assistant. - more

     Market Update & Steel Shorts - The economy grew by 3.1 percent during the second quarter, the strongest performance since early 2015, but job creation fell in September for the first time in seven years. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 11

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.01/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and now sit just under the383,150 tonne level. The Yuan is trading slightly lower against the US Dollar this morning, putting negative pressure on nickel trading, while the Euro is stronger, adding positive support. Nickel was able to close for a second day above resistance yesterday, sending a technically positive signal to the market. AK Steel is pulling a head scratcher with customers, adding a monthly surcharge for graphite electrodes. With surcharges for fuel, metal ingredients, and even electricity, in place at some stainless steel producers, it makes one wonder what the next cost of business you have to figure into your cost structure, they will break out and charge you for. Keep whining about overseas producers US steel makers, because you are just making it easier for US consumers to justify looking that way. What's next - a purchase order processing surcharge?
  • Average price of cash nickel so far this month - $4.82/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper slips from 4-week high ahead of China party congress - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Kobe Steel crisis deepens on new revelations of data fabrications, shares dive - more
  • Dodgy Russia gas deal is riddled with intrigue - more
  • Stocks Gain, With Japan at Decade High; Euro Rise: Markets Wrap - more

     Nickel rises as steel prices rally - Nickel prices have touched their highest level in more than two weeks on Monday, supported by a softer US dollar and higher steel prices, while shrugging off weak data from top metals consumer China. - more

     AK Steel Implements Electrode Surcharge on Stainless Products - AK Steel Holding Corporation announced that it will be implementing an electrode surcharge for all stainless product shipments effective Oct 29. - more

     Nickel Asia ships P12-B worth of nickel ore - Nickel Asia Corp. (NAC) has estimated its value of shipments for January to September this year rose 16 percent to PHP11.65 billion from PHP10.01 billion in the same period in 2016. - more

     Why outlook has turned positive for chrome and manganese - The short-term outlook for producers of South African chrome and manganese is positive, cementing the country’s role as the biggest supplier of the minerals that are used in Chinese stainless steel manufacturing. - more

     The world needs more nickel - Independence Group boss Peter Bradford predicts the world will need around 40 more Novas just to meet growing nickel demand associated with the electric vehicle revolution, reports MiningNews. - more

     Vale pulls puts Birchtree mine on care and maintenance - Owner Vale Canada has put the Birchtree underground nickel-copper mine at Thompson on care and maintenance. The first C-and-M shift was Oct. 2, 2017. - more

     Zimbabwe Hints On Export Ban of Unprocessed Chrome - The Ministry of Mines and Mining Development has announced plans to ban again the export of unprocessed chrome as part of efforts geared at boosting the local economy, since the lifting of a ban on raw chrome exports in 2016. - more

     Congressman’s call to review mining ban draws fire - A Utah congressman is questioning the legality of the mining withdrawal President Obama approved last year, and that has local fishermen, government officials and environmentalists concerned they might have to go through the entire process again. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 10

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.00/lb . Indicators at 5:45 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started today's session just over the 383,800 tonne level.  Nickel is trading lower this morning, but that may not last, as the Chinese Yuan Renminbi continues to strengthen against the US Dollar. The Euro is also stronger today. We had resistance at $4.97/lb so nickel has one close above this level. Another close above this level today, could send a bullish signal to the market. Interesting article below from China about ordered cuts in nickel production. We are traveling today so our update is being published earlier than usual.
  • Average price of cash nickel so far this month - $4.78/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - LME copper gains on weaker dollar, SHFE nickel up 1 pct - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Weaker trade winds stall cooling in tropical Pacific - more
  • August Steel Shipments Up 5.1 Percent From August 2016 - more
  • Europe Stocks Slip With Eye On Spain; Dollar Drops: Markets Wrap - more

     Main Producing Areas of Nickel are Required to Limit Production by 50% - Linyi Municipal Environmental Protection Agency of Shandong Province released Notice on Instructions of Production Suspension & Limit of Provincial Steel Companies during Heating Season. - more

     Russia and Norway make progress on cross-border environmental problems - Russian and Norwegian environmentalists and politicians gathering in the industrial town of Nickel to tote up advances in cross-border pollution for once had something positive to report: the joint efforts seems to be working. - more

     Tharisa reports best production year - Platinum group metals (PGM) and chrome co-producer Tharisa on Tuesday reported a record fourth quarter, which nudged the company to its best yearly production performance to date in the 12 months to September 30. - more

     Current trend in steel output offers optimistic view - The first half of the current fiscal has shown a growth of 4.5% in crude steel production in India at 49.8 MT. - more

     Mine owner urged to halt heavy metals leaching into Sydney water catchment - Multinational company Boral has been told to take urgent action to stop pollution flowing from a disused mine site into the Wingecarribee river in the New South Wales southern highlands. - more

     China steel rallies as market eyes winter cuts, iron ore up slightly - Shanghai steel rebar futures surged nearly 4 percent on Monday as Chinese markets reopened after a week-long holiday, with investors anticipating production cuts in the world’s top steel producer as the country fights smog. - more

     Courtesy AISI - In the week ending on October 7, 2017, domestic raw steel production was 1,741,000 net tons while the capability utilization rate was 74.7 percent. Production was 1,655,000 net tons in the week ending October 7, 2016 while the capability utilization then was 70.8 percent. The current week production represents a 5.2 percent increase from the same period in the previous year. Production for the week ending October 7, 2017 is up 2.1 percent from the previous week ending September 30, 2017 when production was 1,706,000 net tons and the rate of capability utilization was 73.2 percent. - more

     Sustainable Steel – Indicators 2017 and the future - Today the World Steel Association (worldsteel) launched the 2017 report Sustainable Steel – Indicators 2017 and the future.- more

  Morning Nickel Price Statistics & Figures

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

Monday, October 9

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.81/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on both Thursday and Friday and started today just under the 384,900 tonne level. Nickel closed higher on Friday and with China returning to work today, the bulls are winning the tug of war. At the moment nickel has punched thru resistance, and has exited a narrow channel it has traded in since late September, If this trend can hold above the line of resistance for two days, we could see the market trend turn bullish again. At the moment, we are trading at levels last since on Sept 21st, yet well off early September highs of $5.72/lb. For those not using stainless steel and instead using galvanize coated steel, zinc is trading at 9-1/2 year highs. We encourage users of coated steel to consider the initial cost compared with the life cycle cost of stainless steel on your next project.It's Monday and another week awaits. May it prove profitable for you.  
  • Average price of cash nickel so far this month - $4.77/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Shanghai zinc hits 9-1/2 year high on supply stress - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Time To Buy Norilsk Nickel Before The Nickel Boom Perhaps Starts In 2018 - more
  • Tracking the Technicals for DJ-UBS Nickel TR Sub-Idx ETN Ipath - more
  • FN - China's industrial production restrictions through the winter heating season are expected to impact steel production over the four key months by -34mt under a moderate scenario or -42mt under a worst-case scenario. This translates to around 30mt or 57mt of seaborne iron ore demand, respectively.
  • AISI Releases September SIMA Imports Data; Import Market Share 26 percent in September - more
  • SO - NDRC: China’s crude steel output up 5.6 percent in January-August
  • The MEPS Global Steel Price Reaches Three-Year High - more
  • European Stocks Rise Led by Spain; Sterling Gains: Markets Wrap - more

     Russian group in talks with PH for nickel plant - Russian company VI Holding Group is now in talks with Philippine Mining Development Corp. (PMDC) for the possibility of setting up a nickel processing plant here in the Philippines, a development that may actually receive a positive feedback from the government as the government is pushing towards industrialization of the mining industry. - more

     BCL closure dents economic growth - The economy grew at a slower rate of just one percent in the second quarter of the year from 3.9% in the same period last year with the mining sector registering negative growth, as the effects of the closure of BCL and Tati mines linger on. - more

     China's Hebei vows to shut polluting steelmakers from September 1 - Steelmakers in the smog-prone northern Chinese province of Hebei will be forced to halt operations next month if they fail to meet tough new pollution restrictions, the local environmental authority said in a notice. - more

     Sassda promotes the use of stainless steel water pipes - The Southern African Stainless Steel Development Association (Sassda) is, along with the Drakenstein municipality in Paarl, in the Western Cape, and South African stainless steel product manufacturers, evaluating the use of stainless steel pipes to reduce water leaks. - more

     Flat steelmakers pause price hike in Oct over rate decline in China - After consecutive price hikes since July, domestic flat steel producers have paused to roll over prices for October, on the back of softening of prices in China, coupled with a decline in iron ore prices. - more

     ZAF starts nickel-zinc battery factory in Missouri - The past few years have witnessed the dawn of energy storage as not only an inevitable part of the clean energy future, but also as a real market in the United States and other nations. - more

     Japan's Ordinary Steel Imports in Aug Stand at 383 Thousand Tons = Its imports fell by 0.4% from the same month last year for the first time in 8 months - more

     Recycled steel could herald new era for batteries - An innovative new method has created the possibility of repurposing stainless steel into sustainable potassium-ion batteries - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 5

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.81/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 387,200 tonne level. While too early to establish itself, it would appear nickel prices have moved out of one tight range, into another. The current range appears to be somewhere between $4.74/lb and $4.91/lb, up from $4.66/lb to $4.79/lb the prior week. Today after doing a big nothing yesterday, nickel continues to do just that so far today. This isn't surprising, with China on vacation this week. Without supply or demand issues to affect traders, we suggest watching the value of the Yuan as a guide for nickel. (Chart here)  As you will notice, since July the chart is suspiciously similar to LME nickel prices. This is our last update for a slow week, and we hope you have a restful and safe weekend, and invite you back to what will hopefully be ,a little more informative next week.  
  • Average price of cash nickel so far this month - $4.72/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Zinc retreats from decade high, inventory fall supports - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Anaconda Nickel Showing Signs of Potential Bearish Momentum - more
  • Euro Steady as Spanish Stocks Climb; Pound Weakens: Markets Wrap - more

     Tight supplies propel zinc prices to highest since 2007 - Zinc prices hit their highest in more than 10 years on Wednesday as tight supplies created by mine closures and healthy demand from top consumer China boosted the market. - more

     China's steel industry PMI retreats in September - Activities in China's steel sector slowed in September after stronger-than-expected performance in the previous months, an industry report showed. - more

     Mt Thirsty proves up for JV partners - A scoping study into the Mt Thirsty joint venture (JV) cobalt project, in Western Australia, has estimated that the project could produce up to 1 280 t/y of cobalt and up to 1 660 t/y of nickel over a mine life of 21 years. - more

     Workers’ safety net tightened - Dodgy company directors will be punished for recklessly forcing taxpayers to cover their workers’ redundancy entitlements, under reforms to the federal safety-net that shelled out $70 million to Clive Palmer’s Queensland Nickel employees. - more

     AIIS Letter to President Trump to Terminate the Section 232 Investigation - We are writing you as members of the Board of the American Institute for International Steel which represents 120 companies across the entire steel supply chain. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 4

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.82/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses rose sharply on Monday and now total just over the 387,800 tonne level. With China still on their week long holiday break, and the rest of the world seemingly on stand by, it is getting harder to find market news. Roy Cimatu was confirmed as the new Philippine Environmental Minister so nickel traders will be watching what actions he takes in the future. The DENR announced its review of mine suspensions announced by the former minister, should be complete by years end. Yesterday, the traded price of nickel did punch out of the tight channel it had been stuck in, but we are seeing very little follow through today - so far.
  • Average price of cash nickel so far this month - $4.75/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Tight supplies propel zinc prices to highest since 2007 - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 8th Steelie Awards shortlist announced - more
  • Dollar Weakens; Spanish Stocks and Bonds Slump: Markets Wrap - more

     Philippine environment minister wins confirmation; miners optimistic - Philippine lawmakers confirmed Roy Cimatu as Environment Secretary, giving the former soldier the task of deciding whether to implement reforms spearheaded by predecessor Regina Lopez that led to mine closures - but cost her the job. - more

  • Palace welcomes CA confirmation of Environment Chief Cimatu - more
  • DENR expects to finish review on suspensions, closures of mines by year-end - more

     Top ANC official says party concerned about tensions between industry, mining ministry - A top official with South Africa’s ruling ANC said on Wednesday that the party was concerned about the souring of relations between the mining ministry and the main industry body, the Chamber of Mines. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 3

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.71/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started the day just over 382,700 tonne level. Nickel is testing $4.87/lb this morning, like it did Friday, after bouncing off $4.65/lb on Thursday. For now, that seems to be nickel's limited trading range, although today's attempt could force a break out - one way or another. Markets remain quiet as China continues its week long holiday.
  • Average price of cash nickel so far this month - $4.71/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - LME copper, zinc ease as profit-takers swoop - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Caeneus Minerals raises cash for lithium, nickel projects - more
  • Rio Tinto Steams Ahead With First Driverless Ore Train - more
  • (SO) US ITC votes to continue AD/CVD investigation into stainless steel flanges from China and India
  • Dollar Edges Up, Stocks Pause After Recent Gains: Markets Wrap - more

     Zinc jumps to 10-year peak as shortages bite - Zinc prices hit their highest in over 10 years on Monday as speculators bet environmental inspections would hit output in China and as one party kept a tight grip on London Metal Exchange inventories. - more

     Russia's Export & Import Results of Ferroalloys in July 2017 = Export is 53,884 tons and import is 24,560 tons = Russia's customs statistics shows the export volume of ferroalloys in July 2017 was 53,884 tons, grossly down by 33.9% from 81,495 tons in the prior month, which was due to the fact that the export of low-carbon ferro-chrome made a recovery from the prior month, whereas the exports of ferro-silicon (Si > 55%) and high-carbon ferro-chrome were drastically down from the prior month. - more

     Residents appeal to stop mining in Zambales - The Sangguniang Panlalawigan of Zambales has heard the appeal of the residents of Candelaria and Santa Cruz towns in this province to cancel the permits of four mining companies which reportedly continue to destroy their communities. - more

     Courtesy AISI - In the week ending on September 30, 2017, domestic raw steel production was 1,706,000 net tons while the capability utilization rate was 73.2 percent. Production was 1,591,000 net tons in the week ending September 30, 2016 while the capability utilization then was 68.0 percent. The current week production represents a 7.2 percent increase from the same period in the previous year. Production for the week ending September 30, 2017 is down 0.8 percent from the previous week ending September 23, 2017 when production was 1,720,000 net tons and the rate of capability utilization was 73.8 percent. - more

     Volcanoes Erupt Nickel, Giving Scientists Clues About Earth’s Worst Mass Extinction - The road leading to the worst mass extinction in Earth’s history is paved with nickel. - more

  Morning Nickel Price Statistics & Figures

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

Monday, October 2

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.76/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Friday and rose on Thursday and start the month just over the 384,500 tonne level. That is 4,308 tonnes lower than we saw September start at, but 12,450 tonnes more than we started the year at. After bottoming out at $4.65/lb for the later part of Wednesday and early part of Thursday, nickel recoverd somewhat on Friday. Today it is struggling again, but volumes are very low, due in large part to China's closure this week for multiple holidays. It should be a slow week on the nickel news front, and we really don't expect to see much out of pricing either.  
  • Average price of cash nickel so far this month - ($5.10/lb - average for September)
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Aluminium hits two-week low as investors wait for shutdowns - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Dollar Rises With Yields, Spain Woes Weigh on Euro: Markets Wrap - more

     Stainless Steel Prices Rise in September - More to Follow - Global stainless steel transaction values are currently influenced by several inflationary factors. - more

     Monchegorsk has now the world’s largest nickel refining facility - A large-scale upgrade is now at full swing,» says Igor Lisitskiy, Deputy CEO for Reconstruction at Kola Mining Metallurgical Combine (Kola GMK) in a press-release. - more

     August 2017 Steel Imports Press Release - Steel imports dipped 3.5 percent from July to August, though they were still nearly one-tenth higher than they were a year earlier. - more

     Clive Palmer nickel refinery imbroglio spawns a lawyers’ picnic - The collapse of Clive Palmer’s Townsville nickel refinery has spawned an unprecedented number of lawsuits, with 20 cases before the courts in Queensland. - more

  Morning Nickel Price Statistics & Figures

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

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