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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Market

Wednesday, October 31

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.34/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and now totals just under the 218,900 tonne level. We are currently trading at $5.30/lb, which is a new low for 2018. News that China's manufacturing sector may have grown at its lowest level since July 2016 is not helping bulls find any footing.  And for a second time in as many days, a metals analyst is warning about the potential bearish affect Tsingshan could have on the nickel market long term. And daily withdrawals from LME warehouses have fallen for a second month and running just a little over 1/2 of what they did in the first half of the year. And then there is always the unknown effects from the trade war. With that, we say goodbye to October.
  • Average price of cash nickel so far this month - $5.60/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Shanghai aluminium hits 2-year low after downbeat China data - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Rally Into Turbulent Month's End; Bonds Dip: Markets Wrap - more

     Tuesday's market review - Aluminium hits 14-month low on renewed U.S.-China trade tension - Aluminium slumped to its lowest in more than a year, with other base metals also falling on Tuesday, on fresh concerns that a U.S.-China trade war was dampening global growth. - more

      China's Tsingshan rains on nickel bulls' party: Andy Home - Has nickel lost its electric buzz? Bull spirits had been galvanised by the potential boost to demand from the electric vehicle revolution. - more

      Nickel bull worries intensify for key electric vehicle component - The rout in metal markets has spread to nickel at the same time as optimism over a supply crunch for the key electric vehicle component fades. - more

      Press release - For the month of November 2018, North American Stainless will increase the fuel surcharge to 28% for stainless flat and long products. The surcharge rate is considered a maximum level for November, and will be reviewed monthly.

      Nickel Monthly News For The Month Of October 2018 - Welcome to the nickel miners news for October. The trade war-depressed markets took its toll on nickel this month with the metal price falling significantly despite LME inventory levels also falling significantly. - more

      Protection Measures Support Steel Prices but Disrupt Trade Flows - Supply options for large exporters of steel, such as those in China and Russia, are becoming limited, owing to existing trade barriers, implemented by many authorities around the world. As a consequence, steelmakers are scouring the globe, for new destinations, in which to sell their excess capacity. - more

  • Economic Uncertainty Weighs Down the Emerging Steel Markets - more

      Russia's Nornickel says Q3 nickel output up 9 pct q/q - Russia’s Norilsk Nickel (Nornickel) said on Wednesday its consolidated nickel production was at 53,739 tonnes in the third quarter of 2018, up 9 percent quarter-on-quarter. - more

      Clive Palmer reveals Bulgarian dinner date with nephew Clive Mensink, who is the subject of two arrest warrants - Clive Palmer has told the Federal Court he dined with Clive Mensink in Bulgaria a few weeks ago, but didn't ask for his nephew's home address because he wanted to know more about his girlfriend instead. - 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 30

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.33/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started today just under the 219,000 tonne level. Macro economic factors keep pressuring nickel lower, and the news a few weeks ago that some of the nickel that has been shipped, is not actually being used, but stored, is causing a degree of skepticism to rise in official stockpile reports. National media outlets are reporting the US could announce early December tariffs on all remaining Chinese imports if talks next month between the countries presidents fail to put a halt to the trade war. US stock markets volatility is raising eyebrows, as is the economic news from Europe. The Chinese Yuan is at its lowest in a decade. The US has an election next week, so after being bombarded for months with negative commercials, American's must dig very deep to find anything positive in the markets - or about life in general. Then again, after next week, the nasty political commercials will go away, to be replaced by ambulance chasing lawyers. Very little market news today, but interesting story about Tsingshan below.
  • Average price of cash nickel so far this month - $5.62/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Zinc, copper fall as fresh U.S. tariffs on China loom - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Metminco bails on nickel acquisition; share price punished - more
  • Horizonte Minerals estimates $443m cost for Brazil nickel development - more
  • U.S. Futures Trim Gains as Europe Stocks Decline: Markets Wrap - more

     Monday's market review - Copper steadies as LME supplies shrink - Copper prices steadied on Monday with support from shortages created by tumbling inventories on the London Metal Exchange countering concern over growth and demand because of the U.S.-China trade dispute. - more

      Chinese metals giant Tsingshan can upset bullish nickel prices - Commodity traders expect nickel, the silvery-white metal used to make stainless steel, to be a winner from the electric-vehicle revolution - it is a key component of batteries. - more

      Mines and batteries: a perfect match? - Finnish state-owned mining company Terrafame has received a building permit from local authorities to build a battery chemicals plant on the site of its Sotkamo nickel/zinc mine. - more

      Courtesy AISI - In the week ending on October 27, 2018, domestic raw steel production was 1,898,000 net tons while the capability utilization rate was 81.0 percent. Production was 1,705,000 net tons in the week ending October 27, 2017 while the capability utilization then was 73.2 percent. The current week production represents an 11.3 percent increase from the same period in the previous year. Production for the week ending October 27, 2018 is up 1.2 percent from the previous week ending October 20, 2018 when production was 1,875,000 net tons and the rate of capability utilization was 80.0 percent. - more

  Morning Nickel Price Statistics & Figures

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

Monday, October 29

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.40/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and Friday and started the week just over the 219,100 tonne level. Last week was pretty dismal for producers of nickel, as prices have fallen at a fairly steady pace over the past five days. Nickel is now trading at a 2018 low, and we are seeing prices last seen in December 2017. Nickel has fallen since May 6th, with only sporadic bounces. We show the next line of support around $5.25/lb. At the moment, if you make a living digging nickel ore, the market looks rather dismal for the short term. If you produce stainless steel, lower nickel means lower production costs. This was the weekend for market predictions apparently. We have three articles posted below with forecasts for prices in 2019 and beyond. We wish you a good and prosperous week!
  • Average price of cash nickel so far this month - 5.64/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London copper trims gains as China data clouds outlook - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • WA nickel miner to slash diesel bill with 7MW solar - more
  • Trafigura-backed Finnish miner Terrafame to build EV battery plant - more
  • URU Metals applies for rights extension at Zebediela nickel project in South Africa - more
  • Stocks Find Some Swagger After Nervy Asia Session: Markets Wrap - more

     Friday's market review - Copper slides as equity markets rout rattles investors - Copper fell 1 percent on Friday as global equities headed for their worst week in more than five years, overshadowing a supply shortage of the metal building in the market. - more

      Copper price to spring back in 2019, zinc seen flat: Reuters poll - Copper prices are due to rebound next year as healthy supply/demand fundamentals overcome macro-economic worries, but zinc will be held back by rising output, a Reuters poll showed. - more

       Better nickel, base metal prices in 2020, Vale says - Lower prices for metals, including nickel, and the planned maintenance shutdown at its Sudbury operations, ate into Vale’s third-quarter revenues of its base metals division. - more

      ERG forecasts strong metals price recovery - Diversified miner Eurasian Resources Group (ERG) forecasts a strong metals price recovery ahead, including for copper, cobalt, aluminium, ferrochrome and iron-ore. - more

      Blockade at New Caledonia nickel mine over - New Caledonia's SLN nickel company says the blockade of its mine site at Kouaoua, which began in early August, has ended. - more

      Gwede Mantashe weighs into BCL, Norilsk battle - South African mineral resources minister, Gwede Mantashe has reportedly requested BCL Mine and Norilsk Nickel to shelve their court battle over a US$271 million deal, and wait for his decision. - more

      Merafe's Production Volume of FeCr in Jul-Sept 2018 Is 84,000 Tons - At the end of last week, Merafe Resources Limited, South Africa announced the volume of ferro-chrome produced by Glencore-Merafe Chrome Venture in the period from July to September in 2018. - 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 25

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.55/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just under the 219,700 tonne level. Nickel started in neutral yesterday, but once US markets opened and decided to take a dive, LME commodities followed suit. And much like the US Dow, the day saw any price gain accomplished in 2018, evaporate, and the market enter negative territory. First time this year for the Dow, second time for nickel. It looks like the market is in neutral again this morning, waiting for US markets to open and see what mood US traders are in today. Whatever the reason for the sudden anxiety, nickel is now trading below its prior 2018 low of September 11th, and short and mid term technical indicators are sending negative signals. And they will.... until nickel starts trading higher. That's it for us this week. We hope you each have an enjoyable and safe weekend, and invite you to join us again next week.  
  • Average price of cash nickel so far this month - $5.66/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London copper prices slip to 2-wk low after Wall Street rout - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more
  • September 2018 crude steel production - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Speaking out on wilderness protections - more
  • EU steel demand growth to level out in 2019: Eurofer - more
  • Australian nickel sector stepping up to meet global change - more
  • Why the Dow tumbled 600 points and the Nasdaq fell into correction territory for the first time in 2 years - more
  • Europe Stocks Climb With U.S. Futures Ahead of ECB: Markets Wrap - more

     Wednesday's market review - Base metals follow stock markets lower as dollar surges - Industrial metals prices fell on Wednesday, pushed lower by a stronger dollar and losses on global stock markets that reflected a lack of appetite for risky assets, though zinc touched a three-week high in earlier trading. - more

      Chinese ferrochrome prices fall, molybdenum rises, nickel briquette stabilizes - Chinese ferrochrome prices fell this week on a lack of buying interest, but molybdenum, used along with ferrochrome for stainless steel production, rose, while nickel briquette premiums were steady, market sources said Wednesday. - more

      Nickel producer Eramet's earnings to be hit by New Caledonia protests - Protests that have blocked some of Eramet’s mines in New Caledonia have curbed its nickel output and will weigh on annual profit, the French mining group said on Thursday. - more

      Vale Indonesia records lower production, higher revenue in Q3 - Publicly listed nickel miner PT Vale Indonesia on Wednesday announced its unaudited third-quarter performance, which recorded nickel matte production of 18,193 metric tons (MT) and sales of US$205 million - more

      Vale still keen on nickel, at least in the long term - Vale said Wednesday it remains optimistic about the long-term prospects for nickel. The short-term, however, is another matter. - more

      Ramu landowners pleased with CPI inclusion in land compo payment  - The landowners associations in the Ramu Nickel/Cobalt project in Madang have expressed satisfaction in the developer’s decision to add the Consumer Price Index in the calculation of its revised lands and compensation payment rates to landowners. - 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 24

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.61/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 Tuesday and now total just over the 219,000 tonne level. Not much to report today. Alto Capital senior analyst Cary Smith told Paydirt Conference attendees that 90% of nickel production is being done profitably at the current prices. Stockhead also reports his price forecast “For the next two years my forecast is an average between $US6.50/lb and $US 7/lb ($9.18 to $9.8/lb) - but that is pretty conservative, and could easily reach $US7.50 or $US8/lb ($10.50 to $11.30/lb).”. Nickel traders look to be using $12,400 tonne for minor support ($5.62/lb).  
  • Average price of cash nickel so far this month - $5.66/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper steady amid worries over weaker China demand - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

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

     Tuesday's market review - Copper prices tripped up by political tensions and slow growth - Copper tracked equity markets lower on Tuesday on concerns of slowing demand in China and as geopolitical tensions escalated over the killing of a prominent Saudi journalist. - more

     90 per cent of global nickel miners are making money at current prices, says expert - For the first time in six years, most global nickel producers are now making money, a senior analyst has told delegates at the Paydirt nickel conference in Perth. - more

     BHP powering ahead with plans to lift Nickel West production - Mining major BHP’s Nickel West division is powering ahead with plans to increase production at its Leinster operation, in Western Australia. - more

      Cerro Matoso owes Colombia more than $56M in royalties - The Cerro Matoso nickel mine, owned by Australian miner South32, owes more than $56 million in unpaid royalties to Colombia, the country's comptroller said on Tuesday. - more

     Remote WA nickel mine to add 7MW solar plant, slash diesel use - ASX-listed miner Independence Group is going (partially) solar at its Nova nickel operation in Western Australia, through a PV installation and power purchase agreement with remote power generation specialist Zenith Energy. - 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 23

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.68/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses ticked slightly higher yesterday and now totals just under the 219,700 tonne level. After peaking out around $5.77/lb late yesterday, nickel has been in  a fairly solid slide since. Investors appear to have been rattled on comments by a leading Chinese official, who stated publically, that while the country did not seek a trade war with the U.S. , it also did not fear one. Typical sabre rattling, but a poll of leading economists by Reuters also released yesterday, showed investors that economists are worried about a possible global economic slowdown starting as early as next year because of the trade war. Nickel miners have a bright future, according to speakers at a conference in Perth, but for the day - and year for that matters, someone forgot to turn on the lights.
  • Average price of cash nickel so far this month - $5.67/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper falls nearly 1 pct, aluminum rises for 2nd day - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Deepen Losses as Investors Flock to Havens: Markets Wrap - more
  • El Niño ALERT; positive Indian Ocean Dipole may be underway - more

     Yesterday's market review - Copper climbs to one-week high on China demand hopes - Copper prices hit one-week highs on Monday due to expectations of stronger demand after authorities in top consumer China said they would take measures aimed at bolstering growth and liquidity. - more

      The next decade will be ‘very good’ for nickel miners amid pivot to batteries - Nickel miners are increasingly pivoting towards battery-grade nickel production for the coming electric vehicle (or “EV”) and stationary storage boom, delegates at the Nickel Conference 2018 in Perth heard on Tuesday. - more

  • Producers see strongest nickel market in many years - more

      Press Release - Universal Stainless & Alloy Products, Inc. today announced a base price increase of 3% to 8% on selected specialty steel long products. The increase will be effective for all non-contract new orders entered October 29, 2018 forward. Current electrode, material and energy surcharges will remain in effect. - more

      Vale's Production Volumes of Mn Ore, FA, Ni and Co in Jul-Sept = Production of Mn ore, nickel and cobalt is down from year-earlier period = On October 15, 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 2018. - more

       Boom in EV batteries - It took more than seven years for automakers to sell four million passenger electric vehicles (EVs). It will take about six months to sell the next million. - more

       Liquidator cuts BCL, Tati Nickel skeletal staff - Senior staff members of both BCL and Tati Nickel were on Wednesday briefed on the decision to reduce the care and maintenance operations that would result in some of them losing their jobs by the end of November. - more

      Cosmos to drive growth - Nickel miner Western Areas has signed off on a new $300 million nickel mine in the northern Goldfields which will create more than 200 jobs when it opens in late 2022, capitalising on what managing director Dan Lougher believes will be rising global demand for the base metal. - more

      Courtesy AISI - In the week ending on October 20, 2018, domestic raw steel production was 1,875,000 net tons while the capability utilization rate was 80.0 percent. Production was 1,705,000 net tons in the week ending October 20, 2017 while the capability utilization then was 73.2 percent. The current week production represents a 10.0 percent increase from the same period in the previous year. Production for the week ending October 20, 2018 is down 0.3 percent from the previous week ending October 13, 2018 when production was 1,881,000 net tons and the rate of capability utilization was 80.2 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 22

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.65/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel rose slightly on Thursday and fell on Friday and started this week just over the 219,600 tonne level. Nickel got a little bump on Friday on news China had promised support for firms with liquidity problems. With nickel up again this morning, we have pretty well erased last weeks losses. We aren't convinced the promised stimulus in China is enough to change the overall trend in pricing, although it is a bullish signal. There is an article below by Reuters you should read titled "Flow of LME nickel to hidden storage dents bull story". According to the article much of the inventory that is leaving LME warehouses is going into storage as large investors bet on prices going higher in the future. If true, this is incredibly bearish, and could explain why prices are in retreat while inventories do the same. And while there is always hidden inventory out there, as base metals investment houses play the game to make money, we are skeptical it is of the volume these analysts suggest. Time will tell, but if true, the holders are going to be sitting with millions of dollars worth of nickel for a long while, as prices have done little but fall since May. Have a prosperous week!
  • Average price of cash nickel so far this month - $5.67/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper climbs for second day after China liquidity pledge - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Western Areas gives go-ahead for Odysseus nickel mine - more
  • How tycoon Roman Abramovich blows his millions: mega yachts, fast cars and private jets - more
  • Chinese Stocks Rally Most Since 2016 as State Steps Up Support - more
  • $100bn in nickel investment is needed to keep up with electric car demand - more
  • Supply Chain Risks In Driving Seat As Transport Sector Changes Lane - more
  • Stocks Climb After China Rally; Pound Turns Lower: Markets Wrap - more

     Yesterday's market review - Copper, nickel rise as China pledges support for illiquid firms - Copper rose on Friday and nickel prices rebounded from a one-month low after regulators in China pledged support for firms with liquidity issues brought on by months of slowing growth. - more

      Flow of LME nickel to hidden storage dents bull story - The bulk of nickel moving out of London Metal Exchange-approved warehouses in Asia is showing up in hidden facilities in Europe, analysts said, denting a bullish scenario of potential shortages. - more

      BASF, Nornickel join forces in electric vehicle battery push - Germany's BASF and Russia's Norilsk Nickel (Nornickel) have signed a nickel and cobalt supply deal to address growing demand for batteries to power electric vehicles, they said on Monday. - more

      Voisey’s Bay starts to go underground - Cobalt 27 Capital Corp has received confirmation from Vale of the start of the Voisey’s Bay transition to underground mining with the first blast at the Reid Brook portal rock face of the Voisey’s Bay Mine Expansion, located in Newfoundland & Labrador, Canada. - 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 18

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.61/lb . Indicators at 6:15 am CST today show 3 month nickel trading around  $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just over the 219,900 tonne level. We show nickel fell below major support yesterday and if today's trading continues its current path, we could see another close below. Since the market is already bearish, we are not real sure what another bearish technical signal would mean. We were incorrect yesterday about Vale's future nickel expansion plans. It is not the $13,000/tonne level they want to see hold, but the $20,000/tonne level, before they will consider any expansion in their nickel division. That is $9.00/lb. $5.53/lb is your next line of support.. Anything below that will be a new trading low for 2018. SMM has some predictions for fourth quarter stainless steel production below. BHP says the fire that shut down their Kalgoorlie Smelter for a few weeks will not adversely affect their annual production. Is future EV nickel demand more hype than reality? One author makes his case below. The bears are winning the trading tug of war this week, and the bulls better dig in their heels or they could be in real trouble for the rest of the year. In the mean time, this is our final update for the week, so we hope each of you has a safe and entertaining weekend, and hope to see you again next week.
  • Average price of cash nickel so far this month - $5.68/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Nickel hits 1-month low on China growth worries, U.S. rates - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Glencore chair Tony Hayward latest to drop out of Saudi conference - more
  • Canada to implement provisional safeguards on certain steel imports - more
  • Fed Minutes Weigh on Stocks, Bonds; Yuan Slips: Markets Wrap - more

     Yesterday's market review - Copper steady on Chinese data, aluminium falls on stock inflow - Copper prices held steady on Wednesday as better than forecast Chinese lending data signalling solid economic growth in the world’s biggest metals consumer was offset by signs that a supply squeeze in China was receding. - more

      The Nickel market was in deficit during January to August 2018 with apparent demand exceeding production by 56.3 kt. In the whole of 2017 the calculated deficit was 46.3 kt. - more

      Supply growth, poorer demand to affect stainless steel prices in Q4 - Stainless steel across Chinese markets is likely to face pressure in the last quarter of the year as mills step up production, especially output of #300 series, and as downbeat economic data suggest weakening demand, SMM expects. - more

      Pulling the handbrake on the electric vehicle revolution? - "With big model releases and announcements more akin to the tech world, it’s very easy to get caught up in the EV hype. - more

      Vale putting off new investments in nickel - Nickel prices will have to rise dramatically before Vale makes new investments in nickel, reports said Tuesday. - more

      Smelter shutdown will not hurt production: BHP - BHP says a shutdown at the Kalgoorlie Nickel Smelter caused by a highly publicised fire will not lead to a drop in annual production for its Nickel West division. - more

      Japan's Purchase Price of HC FeCr for Oct-Dec Down by US Cents 14 = US Cents 132 per lb, which is affected by cheap price meant for China = Japanese stainless steel mills have continued negotiation with multiple overseas ferro-chrome producers to fix the purchase price of high-carbon ferro-chrome for the period from October to December in 2018 and have this time come to an agreement on the price to be down by US Cents 14 from the prior period. - 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 17

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.71/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just over the 220,400 tonne level. With major technical support at $12,400/tonne and major resistance at $20,000/tonne, nickel has spent October trading mostly sideways. Vale sent a negative signal to traders today, saying it will not consider investing in more nickel mines until nickel remains above the $13,000/tonne level. BHP, on the other hand, is joining many of the smaller mining companies and investing heavily in nickel exploration, in anticipation of future demand. The cog in the wheel that we are watching is future production balanced with future demand. While some of the commodity houses we watch are predicting the supply and demand imbalance will lessen, or even even itself out come 2021 or 2022, we just don't see that - unless world economies go into the toilet. Where are any new mega mines currently under construction? Yes, there are mine expansions under way, but we are not aware of any new mega mines under construction anywhere in the world. And with all the talk about future demand increasing, we will need some new mines to offset those depleting their resources. On May 22nd of this year, we watched LME stockpiles of nickel fall below the 300,000 tonne level. On August 8th, they fell below 250,000 tonnes. At the current rate they are falling we could fall below the 200,000 tonne level sometime around the Thanksgiving holiday. Something to keep in the back of your mind.
  • Average price of cash nickel so far this month - $5.68/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Shanghai copper slips for 2nd day on lukewarm trade - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • U.S. Futures Slip, Dollar Rises as Good Mood Fades: Markets Wrap - more

     Yesterday's market review - Copper slips as trade tensions, rising U.S. rates weigh - Copper prices slid on Tuesday amid lean factory-gate inflation data in China and nagging concerns about global growth, trade tensions and rising U.S. interest rates. - more

       Evaluation of global nickel resources - The client, one of China’s largest stainless-steel producers, is evaluating an M&A opportunity with an NPI producer to expand their upstream capability. - more

       Battery metal demand drives miner focus on Class 1 nickel - Not all nickel is created equal. In fact, there are two types of nickel, Class 1 and Class 2. The stainless steel that comprises the primary use for nickel comes primarily from Class 2 nickel, which has an iron component. - more

      Brazil's Vale to wait for major price rebound before investing in nickel - CEO - Major Brazilian mining company Vale SA will only make new investments in nickel if global prices for the metal rise from their current price below $13,000 per tonne to around $20,000 per tonne, the firm’s chief executive said on Tuesday. - more

      BHP’s 1st qtr iron-ore output jumps 8 pct, cuts copper guidance - The world’s biggest miner, BHP, said on Wednesday its first-quarter iron ore production rose 8 percent on strong Chinese demand for high-grade ore, but cut its fiscal 2019 guidance for copper production, citing outages at key mines. - more

  • World’s Top Miner Embracing Boom in Electric Car Batteries - more

      An Update On Norilsk Nickel - The 5 year price chart for Norilsk Nickel ("Nornickel") shows the stock has basically moved up and down (sideways) over the past 5 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

Tuesday, October 16

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.72/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and now total just under the 221,900 tonne level. Nickel bounced off support at $5.62/lb this morning ($12,400/tonne) but has done little in the way of recovery since. Attendee's at LME Week started their meeting hearing how positive the outlook for nickel looked, and nickel has continued its bearish ruin since. Makes one wonder what the representatives of the big trading houses talked about amongst themselves at dinner. Nickel can't be a boost from much these days. The Euro bounced a little last Friday, and nickel, which would typically get a boost from that, coasted. The International Stainless Steel Forum reports nickel containing stainless steel production rose over 13% for the first half of this year, and nickel falls. US electric vehicle sales have more than doubled from last year the last few months and nickel retreats. Worldwide sales of EV's thru September have risen from 124,000 to 172,000 and nickel prices slip. After hitting their highest level in 3-1/2 years in early June, nickel fell and in recent weeks, has turned neutral. Is this a buying opportunity? Or is their more fat to cut from the bull? Or is the market in a holding pattern until we can get past this trade war? Stay tuned.
  • Average price of cash nickel so far this month - $5.69/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper drops 1.5 pct as U.S.-China trade war raises demand concerns - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Europe to spend billions on lithium-ion battery plants - more
  • Battery metals appear to be losing their spark as prices start to fall - more
  • Stocks Edge Higher With Yields as Earnings Roll In: Markets Wrap - more

     Monday's market review - Lead bounces back on falling stocks and weaker dollar - Lead jumped to its highest in six weeks on Monday, helped by a weaker dollar and falling inventories, but U.S-China trade tensions kept pressure on most metals. - more

      Here’s what’s ahead for nickel, copper, lithium and cobalt prices - Escalating global trade tensions have helped drive down metal prices in the second half of the year – but the outlook isn’t all bad, according to leading analysts. - more

     Global nickel supply gap to narrow in 2019 – The global supply gap in nickel is likely to narrow in 2019, as output expands 10% to drive annual output to 2.46 million mt, said SMM senior analyst, Yang Bo. - more

      Stainless steel output expands 3.9% in Sep – China produced 2.16 million mt of stainless steel in September, up 3.9% from August and 1.6% from September 2017, SMM data showed. - more

      worldsteel Short Range Outlook 2018/2019 - The World Steel Association (worldsteel) today released its October 2018 Short Range Outlook. worldsteel projects global steel demand will reach 1,657.9 Mt in 2018, an increase of 3.9%* (please see *note below) over 2017. In 2019, it is forecast that global steel demand will grow by 1.4% to reach 1,681.2 Mt. - more

      Townsville processing plant on cards as part of Pure Minerals acquisition - Pure Minerals may develop an ore processing plant in Townsville, Queensland following its acquisition of emerging nickel-cobalt company Queensland Pacific Metals. - more

     Courtesy AISI - In the week ending on October 13, 2018, domestic raw steel production was 1,881,000 net tons while the capability utilization rate was 80.2 percent. Production was 1,705,000 net tons in the week ending October 13, 2017 while the capability utilization then was 73.2 percent. The current week production represents a 10.3 percent increase from the same period in the previous year. Production for the week ending October 13, 2018 is up 1.6 percent from the previous week ending October 6, 2018 when production was 1,851,000 net tons and the rate of capability utilization was 79.0 percent. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 11

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.75/lb . Indicators at 6:10 am CST today show 3 month nickel trading around $.10/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just over the 224,900 tonne level. There is little base metal news today, as media around the world has apparently shifted their immediate attention to the equity rout, which started in the US yesterday and is making itself around the world today. Asian stocks fell in the 3-4% range overnight, and futures show US markets are still edgy. While the doomsayers are always looking for a reason to spread their doom and gloom, we would agree with those who believe this is an overdue correction that is needed to keep the market healthy over the long term.  It appears nickel is caught up in the sell off fervor, and the large commodity houses will be watching for timely buying opportunities. The old saying that it is never wise to try to catch a falling knife applies in the mean time. Technical support comes at $5.55/lb, which is the traded low for the year, reached on September 11th. This is our last update for the week, so we hope you have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $5.68/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Base metal prices drop, track equities rout on macro fears - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Exports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stock Rout Spreads as Bonds, Currencies Stay Calm: Markets Wrap - more

     Yesterday's market review - Zinc falls after nearing 3-month high on tighter supplies - Zinc fell on Wednesday on trade and inflation worries, although it had earlier risen back towards a 3-month high reached last week on shrinking inventories and smelter cuts in China. - more

      Nickel price volatility likely to remain “pretty intense” - World output of stainless steel leapt 7.6% in 2016 and a further 6.7% in 2017 - but “a turning point” has been reached and the rate of increase can be expected to slow to perhaps 3.4% in 2018 and 2.6% in 2019, according to Jim Lennon, Senior Commodities Consultant at UK-based Macquarie Capital (Europe) Ltd. - 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 15

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.75/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and Friday and started the week just over the 222,100 tonne level. Stockpile withdrawals have fallen an average of 587.45 tonnes per day so far this month. After a very volatile Wednesday, with nickel falling to $12,40/tonne, markets bounced back and have been choppy since, but failing to do much more than tread water within a $200 tonne range. $13,000/tonne remains to put up resistance, but hasn't been tested since last Tuesday. Base metals are trading sideways and subdued so far today. ISSF reported Friday that stainless steel production was up over 13% for the first half of 2018. The market is sending few technical signals, with indicators mostly neutral. While last week got interesting, it ended just slightly higher than the prior Friday.
  • Average price of cash nickel so far this month - $5.68/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Firmer dollar, trade concerns weigh on London metal prices - more
  • Reuters Daily Inside Metals - pdf here
  • ScotiaBank Metals & Mining - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Trump & Xi: Metals and Mining in the Strongman Era - more
  • Mincor hits shallow high-grade nickel — now it just needs somewhere to process it - more
  • Stock Slump Resumes; Oil Advances on Saudi Tension: Markets Wrap - more

     Friday's market review - Aluminium breaks six-session losing streak as markets recover - Aluminium rebounded on Friday, breaking a six-session losing streak, as speculators and consumers regarded the lower prices as good value against a background of recovering share markets. - more

      Stainless Steel Production Increases by 13 3 percent to 26 1 Million Tons in the First Half Year of 2018 – The International Stainless Steel Forum (ISSF) has released figures for the first half year of 2018 showing that stainless steel melt shop production increased by 13.3% year–on–year to 26.1 million metric tons. - more

      Tsingshan to offer fixed-price stainless contracts with no alloy surcharge: SMR - Chinese-owned Tsingshan, the world’s top stainless steelmaker, is prepared to offer fixed-priced long-term contracts that have no alloy surcharge - a move that could change the way the metal is priced globally, an industry veteran told Reuters. - more

      LME Week metals puzzle is how to trade a trade war: Andy Home - Donald Trump didn’t make it to LME Week, the annual jamboree of the global metals trading community. - more

      NSSC Cuts Retail Price of Ni-base SST for October by 5,000 Yen - Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) disclosed on 4 October its contract prices for domestic retailers of cold-rolled (CR) stainless steel (SST) sheet as well as heavy and mid plates for October. - more

      FeNi Producer in Greece Suffers from Damages due to Cyclone = Kiln and building are totally damaged, and production volume is down to half = According to the local news report, the cyclone which occurred in the Mediterranean Sea at the end of last month passed Greece during 29th to 30th of September, and Larco General Mining & Metallurgical Co. S.A., a ferro-nickel producer suffered from damages. - 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 10

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.90/lb . Indicators at 6:10 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and now total just over the 225,500 tonne level. Nickel traders were able to drive nickel up to the $13,000 level overnight, but has fallen back since. $5.90/lb is your line of resistance to watch, and if this market has any opens of turning bullish, it will have to beat this level. It looked like we might see the beginning of a bull run late last month, with this line being beat for two consecutive days, but it turned out to be little more than shorts covering. LME Week is ending this afternoon, so it will be interesting to see if the major trading houses make any adjustments in their trading strategy. It's hard to find anyone that is bearish on nickel long term, but that pesky trade war and its potential fall out continue to damper short term expectations.
  • Average price of cash nickel so far this month - $5.66/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Shanghai zinc hits near 4-month top as supplies tighten, LME prices flat - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Treasuries Yields Edge Higher as Stocks Struggle: Markets Wrap - more

     Tuesday's market review - Zinc surges as supply deficit erodes stockpiles - Zinc prices rose on Tuesday towards last week’s three-month high as falling stockpiles underlined a global supply shortage. - more

      Tsingshan Group's Plant Indonesia Has No Damage from This Earthquake - Around 18:00 local time on September 28, a big earthquake with a magnitude 7.5 occurred in the central part of the Sulawesi Island in Indonesia which caused seismic surges, which brought down big damages to Palu, a provincial capital of Central Sulawesi. - more

      Higher nickel prices sees Rox relook at Fishers East - An updated scoping study into the Fishers East nickel project, in Western Australia, has proved the project to be financially robust, and technically low risk, ASX-listed Rox Resources said. - more

      Clive Palmer withdraws $1.8 billion lawsuit against Queensland Nickel liquidators - Businessman Clive Palmer has withdrawn counterclaims seeking $1.8 billion in damages from liquidators of Queensland Nickel, who are seeking to recover hundreds of millions of dollars over the closure of the Townsville refinery. - 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 9

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.70/lb . Indicators at 6:15 am CST today show 3 month nickel trading around  $.10/lb higher. Stockpiles of nickel stocked in LME licensed warehouses fell on Monday and now total just over the 226,000 tonne level. Base metal traders who aren't attending the LME Week meetings, apparently are laying follow the leader to the Shanghai Metal Markets. Typically, it is the other way around. SMM nickel closed up 2.2% last evening and LME nickel is currently up over 1%. The Euro is lower this morning, which is a drag on commodity trading. With LME Week meetings still going on in London, the future of nickel is being discussed and the hopes for future growth tend to levitate toward the rise in electric vehicle sales and the need for nickel filled batteries. US EV sales numbers are out and sales of electric vehicles rose from around 21,200 last year, to nearly 44,500 this September. Worldwide sales thur the end of September show over 1,067,000 vehicles have been sold YTD. Last year sales for the entire year, sales totalled just over 1,227,000 vehicles, so based on current trend, 2018 sales will pass 2017 sales in early November, or possibly late October. Sales in the US have already surpassed last years total sales over nearly 200,000 by over 15%. So unless someone comes up with a better battery that does not use nickel, the future demand indeed looks bright.
  • Average price of cash nickel so far this month - $5.65/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Shanghai zinc hits 3-1/2-month top on dwindling supply, steel lifts nickel - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Clive Palmer’s advertising blitz tops $1 million - more
  • IMF Cuts Forecast for Global Growth as Trade War Takes Toll - more
  • Treasury Yield Hits 7-Year High; Stocks Retreat: Markets Wrap - more
  • El Niño ALERT; positive Indian Ocean Dipole likely underway - more

     Monday's market review - Receding supply concerns push aluminium to 1-week low - Aluminium prices fell to one-week lows on Monday as worries about supplies receded after a Brazilian court approved emergency waste measures that could allow the world’s biggest alumina refinery to resume production. - more

      Bullish view for 'exciting' nickel - Nickel has once again won the poll as the most exciting metal in the upcoming year, with 55% of the audience of metals traders and investors voting for it at the LME Week metals debate Monday. - more

     LME Week: Chinese infrastructure to accelerate in H2 2018, SMM says - infrastructure construction in China will accelerate in the second half of the year as Beijing has been loosening policies in the face of potential impact from the trade war, said SMM general manager, Ian Roper. - more

      APAC Region to Drive Robust Market Growth of Primary Nickel - Chinese stainless steel mills accounted for more than 50% of the total consumption of primary nickel. - more

      LME Ni Average Price in September Down by 7% from Prior Month = It shows a declining trend as dollar purchase is going on due to trade friction between USA and China = LME monthly average nickel price in September 2018 was Cash seller: US$12,527.25 per ton (US$5.682 per lb) and 3-month seller:  - more

      Economics looking favourable at St George Mining’s ‘phenomenal’ nickel sulphide project - John Prineas, executive chairman of St George Mining Ltd, spoke to Proactive London's Andrew Scott while in the City for LME Week 2018. - more

      Courtesy AISI - In the week ending on October 6, 2018, domestic raw steel production was 1,851,000 net tons while the capability utilization rate was 79.0 percent. Production was 1,706,000 net tons in the week ending October 6, 2017 while the capability utilization then was 73.2 percent. The current week production represents a 8.5 percent increase from the same period in the previous year. Production for the week ending October 6, 2018 is down 0.3 percent from the previous week ending September 29, 2018 when production was 1,856,000 net tons and the rate of capability utilization was 79.2 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 8

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.72/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and Friday and started the week just under the 226,500 tonne level. Its LME Week and based on the tweet I have read this morning, nickel is the topic of primary discussion. A poll of members show a many believe nickel has the most growth potential next year of all base metals. Back in the real world, nickel is down sharply this morning, along with all base metals, as markets worry about the Italian financial debt crisis, and a 3% drop in China stocks overnight. While China stocks have been in a slump for sometime now, the week long holiday apparently did not help change their pessimism.  The exchange between U.S. Secretary of State Mike Pompeo and Chinese Foreign Minister Wang Yi this morning ,is being described in business media as 'frosty', so any hopes for a quick resolution to the trade war, prove once again to be wishful thinking.  Markets are typically subdued during LME Week, so we aren't expecting much to happen the next few days. The overall trend remains negative since May 1st, so if the upbeat talk on nickel's future can stabilize the market, it would make it much easier on the lives of nickel's end users. With stainless a target of the trade wars, life is difficult enough.
  • Average price of cash nickel so far this month - $5.65/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London aluminium sinks on bets huge Brazil refinery could restart - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Fresh Italy Slump Adds to Stock Gloom; Euro Drops: Markets Wrap - more

     Friday's market review - Aluminium tumbles from 16-week highs - Aluminium prices slipped on Friday from a 16-week high reached in the previous session as investors began to question whether a plant producing the raw material alumina would close. - more

      Macro disquiet drowns out signs of base metals shortages - Uncertainty about how metals demand will be hit by trade wars, rising U.S. interest rates and a slowdown in China is weighing on industrial metals prices, submerging signals pointing to potential shortages. - more

      Police break blockade by Kanaks at New Caledonia nickel mine - Police in New Caledonia have broken up a blockade of the nickel mine at Tiebaghi. - more

     Munali Nickel Mine back on track - Munali Nickel Mine is set to resume production of minerals after securing US$40 million operating capital. - more

     Nickel mining set to start on Solomons' San Jorge island - Nickel mining is finally set to commence on San Jorge Island in Solomon Islands' Isabel Province. - more

      Highlands confirms Ramu expansion focus - Highlands Pacific has confirmed recent speculation that the operator of its world-class Ramu laterite nickel-cobalt project in Papua New Guinea is looking at a US$1.5 billion expansion option. - more

      Britain's CNM plans to relaunch Zambia nickel mine next year - British firm Consolidated Nickel Mines plans to restart production at Zambia's Munali nickel mine in the first quarter of next year, its local subsidiary said on Saturday. - more

      BCSC settles with Nickel One CEO - British Columbia’s securities watchdog has settled with junior mineral explorer Nickel One Resources after a deficient technical report prompted an investigation. - more

      Federal Lawmakers Closely Watching SW Oregon Nickel Mine Proposal - An “on-again-off-again” proposal for a nickel mine in southwest Oregon is on 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

Thursday, October 4

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.79/lb . Indicators at 6:05 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now sit just under the 228,100 tonne level. Nickel jumped about $.17/lb yesterday in midday trading and has done little since. Not sure why the jump, especially in light of the Euro falling at about the same time. A weaker Euro is typically not good news for base metals traded in US Dollars. Reports out of Australia that production has resumed at its Kalgoorlie Smelter after being closed about 1-1/2 weeks to repair equipment damaged in a fire. That's a smidge better than the near year shut down the SMM website forecast they would be shut down. Very light news day, and maybe with China coming back from a week long holiday next week, we will learn more about what is going on in that country.  With their markets down about 20% YTD, fears of an economic slowdown due to the trade war with the United States, are becoming stronger. And with China being the largest worldwide consumer of nickel, you have your primary reason for the slump in pricing. This is our last update for the week, so we hope each of you has a safe and relaxing weekend.  
  • Average price of cash nickel so far this month - $5.62/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Aluminium extends rally to 3-1/2-month peak on alumina shortage fears - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China's Holiday Week Only Gets Worse as Stocks Slump With Yuan - more
  • Bond Slump Goes Global; Dollar Gains, Stocks Drop: Markets Wrap - more

     Yesterday's market review - Aluminium hits highest since June as Norsk Hydro shuts refinery - The price of aluminium jumped to its highest in more than three months on Wednesday after Norsk Hydro said it would halt output at its Alunorte alumina refinery, stoking concerns about shortages of the raw material. - more

      BHP's Kalgoorlie nickel smelter restarts - Production at BHP Billiton's Kalgoorlie nickel smelter restarted on Wednesday after a fire last month, a company spokeswoman said on Thursday. - more

     Universal Stainless Reaches Labor Agreement at Its Bridgeville Facility - Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that it has reached a new five-year collective bargaining agreement with the hourly employees at its Bridgeville facility represented by Local 9531 of the United Steelworkers. - 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 3

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.63/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses fell slightly on Tuesday and remain just over the 228,400 tonne level. Nickel is up slightly this morning, but showing little enthusiasm. Merafe announced ferrochrome prices are down for the fourth quarter. Allegheny finally published their October stainless steel surcharges and they are nearly back down to March levels. SLN is reporting a second New Caledonia mine is being blockaded by local activists, who want an independence referendum in that country scheduled for next month, called off.  Apparently SLN is the most visible representative of the nation of France available. Interesting article below by Chinese media about "Contradictory views on China’s steel output.".
  • Average price of cash nickel so far this month - $5.61/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Aluminium rallies to 5-week high as Hydro shuts Brazil output - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Great Returns Come To Those That Understand Business Cycles - more
  • Metminco completes first leg of nickel acquisition financing - more
  • U.S. Stock Futures Follow European Gains on Italy: Markets Wrap - more

     Tuesday's market review -  Copper loses more ground as manufacturing growth slows in China - Copper prices slid for a second session on Tuesday as growth in China's manufacturing sector slowed last month, raising concerns over demand in the world's top industrial metals consumer. - more

     Merafe Resources Limited - Ferrochrome price announcement for the fourth quarter of 2018 are advised that the European benchmark ferrochrome price has been settled at USD 124 cents per pound for the fourth quarter of 2018, a decrease of 10.1% from the USD138 cents per pound price in the third quarter of 2018. - source

     Nickel turnaround on the cards after stocks savaged by 20pc price drop - Nickel prices have plummeted more than 20 per cent in four months, taking ASX nickel stocks with them — but experts expect a turn-around in 2019. - more

     EU Safeguard Duties on Stainless Steel Products - Developing Countries as defined by EU and European Economic Area members – Norway, Iceland and Liechtenstein – are exempted from the new EU stainless steel policy. All other countries aside these are affected. - more

     Second major New Caledonia nickel mine closed by protesters - A second large nickel mine in New Caledonia has been blockaded, stopping about 200 people from going to work. - more

    Axiom says near supply agreement for Solomon Islands nickel mine - Australia's Axiom Mining on Wednesday said it was close to deciding on a partner to take nickel ore supplies from its mine in the Solomon Islands in exchange for finance. - more

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

     Courtesy AISI - In the week ending on September 29, 2018, domestic raw steel production was 1,856,000 net tons while the capability utilization rate was 79.2 percent. Production was 1,711,000 net tons in the week ending September 29, 2017 while the capability utilization then was 73.4 percent. The current week production represents a 8.5 percent increase from the same period in the previous year. Production for the week ending September 29, 2018 is down 0.4 percent from the previous week ending September 22, 2018 when production was 1,863,000 net tons and the rate of capability utilization was 79.5 percent. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 2

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.67/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and now total just under the 228,500 tonne level. Nickel continues its slow slide, but still has nearly $400 tonne separating it from its Sept 11th low. With China closed and traders ho-humming any news of supply disruptions recently, we are not really sure anything can convince traders to change their sour mood this week. The Euro is lower as well today, which adds additional pressure on base metals trading. Still no October surcharges posted on any of the major US stainless steel producers, and we really aren't sure why. These surcharges have always been posted in the latter half of the preceding month, and have been without missing a beat for many years. The US PMI backed off a bit last month, but remains strong. China and Europe PMI numbers also slipped, while Japan's held steady. We post these four monthly (here).
  • Average price of cash nickel so far this month - $5.59/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper drops for 2nd session on China’s growth worries - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Nickel As A Catalyst For Benzene And Cyclohexane - more
  • Euro Drops as Italy Worries Simmer; Stocks Decline: Markets Wrap - more

     Monday's market review - Copper slides as nerves about Chinese demand surface - Copper prices dipped on Monday after weak manufacturing data from top consumer China caused nervousness about demand, but falling inventories in London Metal Exchange-approved warehouses helped support sentiment. - more

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

      Global Stainless Steel Trade Plagued by Quotas - The introduction, by the United States government, of quotas and tariffs, arising from their Section 232 investigations, reduced the flow of imported stainless steel into the country. - more

      Chinese explorer seals Blackham Resources farm-in deal at Wiluna - Blackham will bank an initial $2.8 million cash for 20 per cent of the project, along with $100,000 for the project’s exploration data. - more

     Here are the commodities that look best for the year ahead - Buy copper, nickel, gold and uranium. Sell lithium, coal, iron ore and alumina. - 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 1

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.72/lb . Indicators at 6:10 am CST today show 3 month nickel trading around  $.12/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on both Thursday and Friday and start the day just over the 228,200 tonne level. After suffering its worst quarter in three years, nickel, which fell over 15% last quarter, is starting this quarter in the same mood. Nickel's short term trend has been negative since Wednesday and long term trend has been negative since June. We have major support at $5.50/lb, that being the lowest nickel has traded this year (on September 11th). We still feel the long term 'fundamentals' remain positive, although the trade war is currently overshadowing. The Euro fell a tad on Thursday but has done little since. China manufacturing continued to grow in September, but at a slower rate. China markets are closed this week for National Day Holiday. Neither of the two US stainless steel manufacturers we follow have posted updated October surcharge figures on their web sites as of this morning. This is unusual as they both typically post these a week prior to the end of the month. Late last night, Canada and the US reached a new trade agreement, with NAFTA now a piece of history. Today begins the final quarter of 2018 and we hope its a profitable one for you..
  • Average price of cash nickel so far this month - $5.68/lb (average Sept)
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London metal slips as week-long holiday kicks off in China - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Found metal that can withstand extremely high temperatures and pressure - more
  • Simulations uncover why some supernova explosions produce so much manganese and nickel - more
  • U.S. Stock Futures, Loonie, Peso Advance on Trade: Markets Wrap - more

     Friday's market review - Zinc hits 7-week peak as Chinese inventories slide - Zinc prices hit a seven-week high on Friday after stocks in Shanghai slid to the lowest in more than a decade and other metals rallied as speculators cancelled bearish positions. - more

      Nickel Monthly News For The Month Of September 2018 - Nickel spot prices were slightly down in September; however, nickel LME inventory continues to fall. - more

     Nickel producers eye Indonesia to plug into EV battery market - Several global metals producers have set their sights on Indonesia’s nickel reserves to tap an expected surge in demand for the metal for electric vehicle batteries. - more

      After Another Quarter of Losses, Is Worst Over for Commodities? - Commodities just posted the longest losing streak in more than three years, and analysts and investors are giving conflicting signals over whether the worst is over. - more

      Botswana does not owe the Russians – Keorapetse - During the PAC appearance by the Administration of Justice, Keorapetse said as far as he was concerned, the country did not owe the Russians since the contract was never signed. - 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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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.

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