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

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Monday, October 26

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.13/lb  ($15,710/week). Indicators at 6:20 am CST today show nickel trading around $.09/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and started this week, just under the 238,200 tonne level. The bear has captured the bull and has been dragging him back to his enclosure the last few days. Last Wednesday we saw nickel trading well over the $16,000 tonne level, and today the market is trading near the $15,500 tonne level. Which basically puts us back 'price wise' to where we were 10 days ago. The Reuters writer is blaming the drop on the pandemic surge, we tend to think it has more to do with a falling Euro, compounded with uncertainty over the U.S. election. Our computer spent much of the morning trying to recover from an apparent bad Windows update attempt overnight, so we are a little light on news, but a quick glance doesn't show we are missing anything big. Stay safe and have a great final week of October!
  • Average price of LME traded cash nickel so far this month - $6.86/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper at lowest in nearly a week on rising virus cases, stronger dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2953/lb
  • SHFE Stainless Steel  Futures -  14,190
  • FED How Has China’s Economy Performed under the COVID-19 Shock? - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper drifts lower as investors question recent rally - Copper eased on Friday as some investors questioned whether recent gains were exaggerated and not fully supported by supply and demand fundamentals. - more

       September 2020 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.4 million tonnes (Mt) in September 2020, a 2.9% increase compared to September 2019. - more

      Copper wins London Metal Exchange Week beauty parade: Andy Home - This year’s London Metal Exchange (LME) Week has been a virtual affair of webinars and Zoom calls but the buzz of bullish excitement around copper has been very real. - more

      Italy’s stainless steel scrap demand resumes gradually - According to the market in Italy, the demand for stainless steel scrap has resumed gradually in the recent few months. - more

      ESG metrics no longer a "fad" to mining industry: LME Week - Environmental, social and governance metrics have become an increasingly hot topic for the mining industry and were not just a gimmick, panelists said at this year's London Metal Exchange Week. - more

      Managing the “COVID Crazies” in metal fabrication - Has anyone felt the intensity and work load increase in their shop during this COVID-19 pandemic? - more

   Other News

  Morning Nickel Prices

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

Virus News and Numbers

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

Friday, October 23

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.14/lb ($15,740/tonne). Indicators at 6:30 am CST today show nickel trading around $.03/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started today just over the 237,600 tonne level. Nickel trading appears to be shadowing the US Dollar/Euro this morning, which is a tad volatile. Nickel has already traded within a $200/tonne down and up trend this morning, so its anyone's guess where it might end the day. Technically speaking, the $16,000/tonne level appears to be safe for now, but we are always skeptical of technical signals beyond those that merely reflect a trend in place. U.S. Stainless steel surcharges are out and updated on our surcharge page (see link in right column) and they went down - but just barely. The final Presidential debate was held last night, and in eleven days we will be able to say the same about the political commercials. We wonder if America had a choice of getting rid of one today, would the winner be political adds... or coronavirus? The world crossed the 42 million threshold last evening in coronavirus diagnosis, which means the world is averaging 1 million new cases every two days. The US seven day average is up to 62,933 new cases a day, with deaths inching up to 808 a day. While there have been a  few minor burps, the trend in U.S. deaths has been slowly dropping since August 5th, when a second 'wave' peaked, well below the April 21st peak at 2,256 (7 day average). Stay safe and have a relaxing weekend!
  • Average price of LME traded cash nickel so far this month - $6.85/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper drifts lower as investors question recent rally - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $2953/lb
  • SHFE Stainless Steel  Futures -  14,445
  • World Bank Commodities Price Forecast - pdf here
  • Federal Reserve Beige Book - pdf here
  • MINE Magazine November - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper slips from $7,000, waits for possible China stockpiling - Copper prices slipped on Thursday from the $7,000 mark hit a day earlier as investors waited to hear whether China would stockpile metals and after another delay in agreeing a U.S. stimulus plan. - more

      World’s largest steelmaker China on recovery path in wake of pandemic - After the setback to China’s steel industry from the outbreak of the pandemic, the world’s largest steelmaker appears set on a steady upward curve due to government policy support. - more

       SA chrome ore miners to fend off proposed export tariff - Cabinet backs the imposition of a chrome ore tariff to support local ferrochrome smelters, but the problem lies with Eskom - more

  • Chrome ore producers criticise S. Africa's proposed export tax - more
      Nunavik’s two mines each report COVID-19 cases - Each of Nunavik’s two operating mines reported that one of their staff members tested positive for COVID-19 this week. - more

      Taiwan’s stainless steel HRC imports plummet in Sep m-o-m - According to statistics, Taiwan imported a total of around 57,000 tons of stainless steel hot-rolled coil (HRC) in September, plummeting by 31.79% compared to the previous month. - more

      China, South Korean electric vehicle battery giants to tap Indonesia's vast nickel reserves for production - Indonesia is set to become a battleground for electric vehicle battery production as two global giants, China's CATL and South Korea's LG Chem, are investing billions of dollars in supply chains, tapping the abundant reserves of nickel, a key raw material, in the resource-rich South-east Asian nation. - more

      New study shows life cycle of stainless steels - Team Stainless today published 'The Global Life Cycle of Stainless Steels', a summary of the results of a study which quantifies the stocks and flows cycle of stainless steels. - more

      Biden campaign tells miners it supports domestic production of EV metals - Joe Biden's campaign has privately told U.S. miners it would support boosting domestic production of metals used to make electric vehicles, solar panels and other products crucial to his climate plan, according to three sources familiar with the matter, in a boon for the mining industry. - more

  • On Minnesota copper mining issues, Trump position is clear while Biden is mum - more
      CEO Optimism Jumps Heading Into Q4 - The Conference Board Measure of CEO Confidence in collaboration with The Business Council rose sharply in the final month of Q3, after a moderate increase in the first month of Q3. The measure stands at 64, up from 45. (A reading above 50 points reflects more positive than negative responses.) - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Europe Stocks Climb on Earnings; Futures Edge Up: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Thursday, October 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.20/lb ($15,885/tonne). Indicators at 6:10 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell by a single lot on Wednesday and started today just under the 237,400 tonne level. Nickel was unable to close above the $16,000/tonne level for a second day, and depending on whether you are a disciple of technical trading or not, that could send a bearish signal, or mean little more than nickel had a bearish day. This morning nickel is still falling, but so are many of the other base metals, that ended yesterday in a much more bullish mood. So we suspect today's step back is due in part to a stronger US Dollar, and an overall cautious attitude by traders. The overall trend remains bullish, although the Reuters poll published yesterday, may be causing some to step back. A Reuters poll of metals analysts puts nickel averaging $15,157/tonne in 2021, article below. That is $6.88/lb and while it is close to our average price this month, we should remember we started this month in the low $14,000/tonne range. Analysts will be the first to tell you that it's much harder to forecast nickel these days, as it might have been in the past. While fundamentals still matter, the amount of money in the market makes buying  and selling opportunities much more extreme and markets can turn from less than exciting to incredibly volatile in a few days. For now, the bull is on the loose, but the bear is stalking. Stay safe and have a great Thursday.
  • Average price of LME traded cash nickel so far this month - $6.83/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper slips from $7,000, waits for possible China stockpiling - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2953/lb
  • SHFE Stainless Steel  Futures -  14,445
  • SFSA CaSteel Reporter - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper moves above $7,000 for the first time since June 2018 - Copper leapt above $7,000 a tonne on Wednesday for the first time since June 2018, helped by hopes for U.S. stimulus, strikes at mines in Chile, expectations of healthy demand in China and a strengthening yuan. - more

      Nickel Flips to Deficit - Burgeoning production from Indonesia is expected to be a major driver next year for nickel - mainly used to make stainless steel - but many analysts expect strong Chinese demand to offset this. - more

      WBMS January to August 2020 Metals Balances - Nickel market records surplus in January to August 2020 - The nickel market was in surplus during January to August 2020 with production exceeding apparent demand by 45 kt. In the whole of 2019, the calculated deficit was 27.6 kt. - more

      Global molybdenum production rises year on year in Q2, use falls - Figures released today by the International Molybdenum Association (IMOA) show that the global production of molybdenum rose by 3% to 148.2mlbs when compared to the previous quarter of 2020 and the same quarter of 2019. - more

      Nickel output picks up as prices soar - Total nickel production this year will be steady at the range of 40 to 45 million wet metric tons (WMT) as industry turns bullish from an earlier projection of a decline in output this year. - more
  • Flat nickel export volume, higher value seen this year - more
  • Nickel miners plant 6.59M trees - more
      Covid-19 resurgence causing concern for EU steel buyers - The resurgence in Covid cases across Europe is a growing concern for steel buyers. - more

      Chinese firms commit 35 billion USD investment in Indonesia’s nickel processing - Chinese investors are seeking to expand their business in Indonesia by doubling their investment in nickel processing to 35 billion USD by 2033. - more

      Over $1 trillion needed for energy transition metals - An investment of over $1 trillion will be needed in key energy transition metals – aluminium, cobalt, copper, nickel and lithium – over the next 15 years just to meet the growing demands of decarbonisation. - more


   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures and European Stocks Pare Losses: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Wednesday, October 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.27/lb ($16,020/tonne). Indicators at 6:15 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today, just under the 237,400 tonne level. Nickel closed above the $16,000/tonne level for the first time this year, as bulls continue to control the trading. A stronger Euro, surprisingly strong Chinese stainless production, and labor strikes in Indonesia are the reasons being given for the positive momentum, while a resurgence worldwide of covid is tempering enthusiasm. Based on what we are seeing in the Indonesia press, the labor changes that set off major strikes earlier this month, have been put on hold, as have the strikes.The world saw its 40 millionth covid diagnosis on Sunday and it 41st millionth last evening. The U.S. passed the 8-1/2 million cases yesterday, as well, with another 952 fatalities. With the seven day average of new cases jumping over the 60,000 level yesterday, we are fast approaching the former record of 69,914 we saw on July 24th. We hit the 50,000 level on October 11th, so a new record is a distinct possibility. Stay safe out there and have a great 'hump' day. 
  • Average price of LME traded cash nickel so far this month - $6.80/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits 28-month high on stimulus hopes, weaker dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2953/lb
  • SHFE Stainless Steel  Futures -  14,605
  • Modern Metals October 2020 - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Copper's upsurge on lower dollar takes it to 28-month high - Copper prices hit 28-month highs on Tuesday as expectations of robust demand from top consumer China were reinforced by a lower dollar, as markets awaited the outcome of fiscal stimulus talks in the United States. - more

       China’s post-Covid economic growth helps rebound in operations at global mining firms - Operations at global mining giants recovered well in the third quarter, helped by a pick up in China’s economy, after taking a huge hit earlier from the outbreak of the Covid-19 pandemic. - more
  • China's daily crude steel output hits record high 3.09 mil mt/day in September - more

      BIR World Recycling Convention Week 2020 - Stainless Steel & Special Alloys Committee: Stainless consumption decline could be limited to 4% this year, says Moll - The share of the global stainless steel market claimed by the 300 series would jump from 54.1% in 2019 to 59.3% by 2030, it was reported to the BIR Stainless Steel & Special Alloys Committee’s webinar on October 16. - more

      August Steel Shipments Down 22.9% from August 2019 -  The American Iron and Steel Institute (AISI) reported today that for the month of August 2020, U.S. steel mills shipped 6,532,652 net tons, a 8.2 percent increase from the 6,035,596 net tons shipped in the previous month, July 2020, and a 22.9 percent decrease from the 8,472,088 net tons shipped in August 2019. Shipments year-to-date in 2020 are 53,786,455 net tons, a 17.0 percent decrease vs. 2019 shipments of 64,810,436 for eight months. - more

      Vale begins demolishing Stobie Mine headframes and buildings -  After more than 100 years of operation, Vale’s Stobie Mine site on Frood Road in Sudbury is being demolished. - more

      The Monthly Metric: Percentage of Spend Influenced by Procurement - During the coronavirus (COVID-19) pandemic, shortages of such commodities as toilet paper and life-saving medical supplies emphasized the importance of supply chains, a lesson learned by consumers as well as executives. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Bonds Drop on Stimulus Bets; European Stocks Slide: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Tuesday, October 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.11/lb ($15,685/tonne). Indicators at 6:10 am CST today show nickel trading around $.08/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today's session just over the 236,800 tonne level. Nickel is having another bullish day, having pushed past its former 2020 high set on September 2nd. This former high set up strong resistance around the $15,700/tonne level, which nickel closed just shy of last night, but has pushed aside this morning. We can not advise why the sudden bullishness in the market, but we suspect much like a bear market, much of it is feeding on itself. No one wants to miss out on the sudden score, and this brings in more and in many cases, new money. While the nickel mines are welcoming the enthusiasm, stainless steel producers, manufacturers, and distributors can't help but roll their eyes. Higher nickel prices mean higher austenitic stainless steel prices down the road, and the one thing stainless steel users do not need while world economies are hurting, is higher prices. But apparently, nickel traders are worried less about what nickel users think, than they are about what EV battery users think. And with Tesla baiting the industry with a 'huge' contract, what they think is open for speculation ... and risk taking. It is very likely, that whatever 'say', if any, stainless steel producers felt they had in the nickel market, is fact evaporating to the 'new kid' on the block, ie the EV market. Stay safe and have a great day.
  • Average price of LME traded cash nickel so far this month - $6.77/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper steady, waiting for outcome of U.S. stimulus talks - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2953/lb
  • SHFE Stainless Steel  Futures - 14,465
  • NAB China’s Economy at a Glance - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Nickel hits 11-month high on expectations of robust demand - Nickel prices soared to 11-month highs on Monday as expectations of robust demand from stainless steel mills spurred fresh purchases, while industrial metals overall were supported by a lower dollar and healthy growth in top consumer China. - more

       China accounts for about 60% of world's stainless steel production, with 80% dependence of raw materials on foreign source - Zhong Shaoliang, the representative of the Worldsteel in Beijing, said that affected by the epidemic situation, China's stainless steel production in the world was expected to rise to 60% or even higher in 2020, and continue to maintain the first position in the world. - more

  • China’s stainless steel market has room to grow: Forum - more
      Cuba maintains historic pace in nickel production -  The nickel industry in Cuba today is now capable of producing over 50 thousand tons of this non-ferrous metal, according to the average of recent years, confirmed a director of the Ministry of Energy and Mines (Minem). - more

      Brazilian miner Vale hints at fourth-quarter production boost - Brazilian mining company Vale  reported on Monday an increase in iron ore output in the third quarter and predicted a further boost in fourth-quarter output at some units, as a number of mines ramp up production or come online. - more

      The Next “Low-Cost Nickel Producer in the USA”? - Base metals Company Talon Metals Corp. was featured in the the Q3 2020 review issue of Benchmark Mineral Intelligence news feature “Musk’s Green Nickel Crusade”, looking at the Company’s Tamarack Project, located in Minnesota. - more

      A Look At Who Might Win A 'Giant Contract' To Supply Tesla With Nickel - Nickel 'battery' demand is forecast to increase by 14x from 2019 to 2030.  - more

      Courtesy AISI - In the week ending on October 17, 2020, domestic raw steel production was 1,535,000 net tons while the capability utilization rate was 69.4 percent. Production was 1,805,000 net tons in the week ending October 17, 2019 while the capability utilization then was 78.0 percent. The current week production represents a 15.0 percent decrease from the same period in the previous year. Production for the week ending October 17, 2020 is up 2.2 percent from the previous week ending October 10, 2020 when production was 1,502,000 net tons and the rate of capability utilization was 67.9 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Extend Gains Amid Final Stimulus Push: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Monday, October 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.10/lb ($15,650/tonne). Indicators at 6:15 am CST today show nickel trading around $.02/lb  higher. Stockpiles of nickel stored in LME licensed warehouses, after four consecutive days of gains, decided to fall slightly on Friday, and started this week just over the 237,300 tonne level. Nickel is off earlier highs, but with the US Dollar sharply lower, that may not last. Nickel jumped sharply on Friday, and half heartedly tested resistance earlier this morning. Traders seem to have a lot of momentum going, although what the renewed bullishness is based on, is anyone's guess. EV sales are back, with Germany hitting monthly sales records, but another outbreak of covid victims could easily slow that back down. Worldwide infections rolled over the 40 million level this past weekend, with the U.S. seven day average up to 56,322. Back in July, we listed some of the annual death rates in America, that have been exceeded by the 'overblown' pandemic, and that is currently killing a little over 700 Americans a day. We updated this at the bottom of the page, if anyone is interested. We are all tired of this virus. We are tired of talking about it, thinking about it, and we are really tired of having our lives changed by it. But its our new reality, at least for now. So stay safe out there, and have a great week!
  • Average price of LME traded cash nickel so far this month - $6.74/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Nickel hits 11-month high on expectations of robust demand - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2953/lb
  • SHFE Stainless Steel  Futures -  14,425
  • U.S. Economy in a Snapshot - more
  • FRED Manufacturing Sales - chart here
  • US Economic Indicators:Industrial Production - pdf here
  • FRED Truck Tonnage - chart here
  • US Economic Indicators:ATA Truck Tonnage Index - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Robust demand prospects propel aluminium to 17-month peak - Aluminium prices hit 17-month highs on Friday as robust demand from top consumer China, expectations of stronger growth and demand in the rest of the world and a lower dollar helped to create buying momentum. - more

      Industrial metals: Upswing meets trouble – Why the prices of tin and nickel are likely to rise further - Persistent demand from China is supporting nickel and tin prices. In addition, there are now strikes in the producing country of Indonesia. - more

      Russian stainless steel production grows in Aug m-o-m - The Russian production of stainless steel smelted in August 2020 increased by 7.9% compared to July, which amounted to 7,820 tons.  - more

      Tesla eyes nickel-rich Indonesia for next factory, hints officials - Local reports are hinting that Tesla might be laying down plans to build a dedicated battery factory in Indonesia. - more

      How Amazon Business Stacks Up Against the Top Big 50 Distributors - While few outside of Amazon know just how big Amazon Business really is, reliable estimates allow us to compare it against the largest industrial distributors. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China Set to Pass Law Protecting Vital Tech From U.S. - more
  • Stocks, Futures Rise on Stimulus Hope; Bonds Fall: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Inside the Fall of the CDC - more
FED How Do Consumers Believe the Pandemic Will Affect the Economy and Their Households? - more

From our July 29th entry (see July 29 for links to government sources)
The CDC estimates 3,000 Americans die a year from food borne illnesses (source), the National Safety Council estimates 38,800 Americans died in car crashes last year (source), the CDC estimates 34,200 Americans died from the 'flu' in the 2018-2019 flu season (source), and in 2018, the CDC reported 48,344 Americans committed suicide in 2018 (source). Combined, those annual totals do not come close to the 150,000+ Americans who have died from covid-19 - in just the last five months.

You can add to these numbers the approximate 67,400 Americans who died from drug overdoses in 2018 (source). That puts us up to approximately 192,000 Americans killed by food poisoning, car crashes, the flu, suicide and drug overdoses - combined - over a full year. Yet, after 7-1/2 months of covid-19, we have lost 224,000 Americans to this virus and some continue to say its all politically overblown. Go figure.

Friday, October 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.00/lb ($15,430/tonne). Indicators at 7:30 am CST today show nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started today's session, just under the 237,400 tonne level. Nickel is much higher this morning on a  weaker U.S. Dollar, and a successful close above a technical line of resistance yesterday. A stronger line is just ahead, so the bull may hit a fence later this morning. Whether it stops him or not is what traders await to find out. The International Nickel Study Group is forecasting a surplus of 117,000 tonnes of nickel in 2020, and an excess of 68,000 tonnes in 2021. Glencore admits its in talks with the EV industry about supplying nickel. Does that leave anyone in the world who is not? We should remember that Mr Musk's request for more nickel and a promise of a huge contract was "not" the first time world miners were made aware of a potential shortage in nickel due to the growth in the EV battery industry. In fact, we have been talking about it for a few years now. So hopefully these announcements are less 'groundbreaking news', and more of letting their stockholders know that they are not keeping up with the Jones, but that they "are" the Jones. It's Friday and we need a weekend. Stay safe and have a relaxing and restful weekend.
  • Average price of LME traded cash nickel so far this month - $6.71/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper gains as China demand hopes, supply risks eclipse virus woes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2953/lb
  • SHFE Stainless Steel  Futures -  14,390

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper rises as robust demand trumps worries about virus - Copper prices rebounded on Thursday as strong demand in top consumer China overcame concerns that rising COVID-19 cases around the world will dampen global growth. - more

      Stainless steel markets - The International Stainless Steel Forum (ISSF) is pleased to be able to share the following industry data following our October 2020 conference. - more

       worldsteel Short Range Outlook October 2020 - The World Steel Association (worldsteel) today released an update to its Short Range Outlook (SRO) for 2020 and 2021. - more

       World nickel production to decline in 2020 amid pandemic disruption and Indonesia export ban - Indonesia prohibited nickel ore exports in an effort to boost its domestic industry, while Covid-19 has forced mines mines around the world to either suspend or reduce operations  - more

      China Macro & Metals: tighter credit conditions will weigh on metals markets - Sentiment in China’s metals markets was buoyant in July and August on easy credit conditions and expectations of further stimulus flowing to infrastructure.  - more

      Nickel Mines to buy stake in Tsingshan Indonesian unit to boost output - Nickel Mines Ltd said on Friday it will buy 70% of Indonesia’s PT Angel Nickel Industry (ANI) for $490 million in a deal that it says will double its nickel production within two years. - more

      Russia to open a mining firm in the Arctic -  BitCluster, a crypto mining company from Russia, is setting up shop above the Arctic Circle, in the industrial area of Norilsk in the Taymyr Peninsula.  - more

      Glencore talking with carmakers and battery makers about nickel, CEO says - Glencore CEO Ivan Glasenberg said on Friday that the company is talking with carmakers and battery makers about nickel - a key component in electric vehicle batteries which Tesla CEO Elon Musk has asked miners to produce more of. - more

      Indonesia sees China firms lead 'commitment' for $35 billion nickel investments -  Indonesia expects to see investment in nickel processing, as well as petrochemicals, double to $35 billion by 2033, led by investors from China seeking to expand their businesses in Southeast’s biggest economy. - more

      Distributor Pandemic Index in Bumpy, But Mostly Steady Pattern - Overall, the index has essentially been flat since late July after a chaotic Spring. - more
  • Let Disruption Fuel a Reevaluation of Your Sales Structure - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Gain With Europe Stocks; Pound Weakens: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Thursday, October 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $6.97/lb ($15,360/tonne). Indicators at 6:15 am CST today show nickel trading around $.04/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose yet again on Wednesday, and started today just over the 237,300 tonne level. The bears appear to be having a problem resisting the will of the bulls the last few days, with nickel on the rise again. If it remains bullish, nickel is, and will test a few bands of technical resistance in the next week or so, the strongest being around the $15,700 tonne level. Lot of pandemic concerns creeping back into markets, with some major European countries clearly experiencing a second wave, and taking closure measures to stop the spread. There is a chance that England may shut down for a few days at the end of this month, to take advantage of a break in the school schedule and try to put the entire country on a short lockdown. It's a rumor at this point, but officials there are very concerned. After falling to a seven day average of around 37,000 new cases per day on September 12th, the United States rose above the 50,000 level on October 11th, and was over 53,000 yesterday. These are seven day averages. In reality, there were almost 60,000 new cases yesterday, a number we haven't seen since early August. We posted a story below in the pandemic section on the stockpiling that some countries are taking in expectation of it getting bad again, and we heard last night on the news, that many Americans are planning on/or already are, stockpiling food again. While there remains that small, yet loud section of our populace that we call pandeniers, over 200,000 Americans have died from the pandemic this year .... and we are yet to hit the winter months that the scientists fear the most. It is not a good time to drop your guard. This is looking to be a holiday season unlike any other that we have experienced. Stay safe and have a great day.
  • Average price of LME traded cash nickel so far this month - $6.69/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper eases on worries about rising virus cases and global growth - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2947/lb
  • SHFE Stainless Steel  Futures -  14,295
  • Australian Mining Review - online here
  • Producer Price Index by Commodity: Steel Wire, Stainless Steel - more
  • Producer Price Index by Commodity: Corrugated Paperboard in Sheets and Rolls - more
  • Producer Price Index by Industry: Corrugated and Solid Fiber Box Manufacturing - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper drifts higher on Chile labour talks and U.S. stimulus hopes - Copper gained on Wednesday as investors gauged potential threats to supply from Chile while pricing in more U.S. stimulus spending after the election and steady demand from China. - more

      Vale's Stobie Mine in Sudbury is being demolished over the next few months - After 100 years of operation, Vale starts work to bring down another iconic part of Sudbury's skyline - more

      EU implements further stainless steel import protection as Asian capacity grows - The increasing dominance of stainless steel production by the Asian continent is not going unnoticed by the European mills. - more

      India imposes provisional CVD on flat stainless steels from Indonesia - It was reported that India's Department of Revenue has imposed provisional countervailing duties (CVD) on stainless steel flat products imported from Indonesia, the rate of CVD is between 22.31% and 24.83%. - more

       Metals Shipments Rates of Decline Improve in September, Aluminum Up in Canada - Steel shipments in both the U.S. and in Canada, and aluminum shipments in the U.S., declined again in September on a Year over Year basis but at less than half the rate in August. Aluminum shipments in Canada were up slightly over September 2019. - more

       BIR World Recycling Convention Week 2020 - Rolf Willeke, Statistics Advisor of the BIR Ferrous Division, summarizes below the main findings contained within his January-June 2020 update presentation to the divisional webinar taking place on October 14 2020. - more

      IMF Envisions a Sharp 4.4% Drop in Global Growth - The International Monetary Fund foresees a steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession, its worst collapse in nearly a century. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • The 11th Steelie Award winners announced - more
  • Fastenal's Sales and Profit Growth Narrows in Q3 Amid Normalization - more
  • Germany: Plug-In Electric Car Sales Exceeded 40,000 In September 2020 - more
  • Stocks Sink on Virus Curbs, Despair Over Stimulus: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Countries Rush to Hoard Food as Prices Rise and Covid Worsens - more

Wednesday, October 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $6.82/lb ($15,030/tonne). Indicators at 6:10 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses gained for a second consecutive day and started today's session just under the 237,200 tonne level. So far this week, nickel had been in a start the day higher, but ending lower cycle. It does appear, however, that traders are fighting to keep nickel trading above the $15,000/tonne level. Nickel may have been getting some recent support from some nationwide labor strikes going on in Indonesia. Apparently the Indonesia government made some extreme changes to their labor laws and many workers are very unhappy. It is unknown what effect this may be having on nickel ore processors in the country, but one thing we don't have to worry about. These strikes won't effect the exports of nickel ore from the country because, thanks to another draconian law change by their government last year, there are no exports anymore. It's another hump day  and tomorrow is already the half way point to the month. Stay safe, and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.67/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises as Chile mine strike, Chinese demand lift prices - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2979/lb
  • SHFE Stainless Steel  Futures -  14,280
  • BHP nickel presentation - pdf here
  • NAB China Economic Update October 2020 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Copper falls as stronger dollar offsets solid Chinese trade data - Copper prices fell on Tuesday as strong trade data from China, the largest consumer, was offset by a stronger dollar and news that Johnson & Johnson had paused clinical trials of a coronavirus vaccine. - more

      China stainless steel futures jump on strong demand - Stainless steel futures rise as much as 1.9%, Dalian iron ore prices inch higher and spot 62% iron ore remained unchanged at $118.5 a tonne on Wednesday - more

      ARM to test technology that could save its beleaguered ferroalloys production from closure - African Rainbow Minerals (ARM) is investigating new smelting technology that could enable South Africa’s ferroalloys sector to circumvent swingeing electricity tariff increases. - more

      Australian firm tiptoes into battery making with country's first plant - An Australian company is looking to build the country’s first lithium-ion battery factory by mid-2021, starting small after scaling back earlier plans and switching its proposed location. - more

      A Historic Year for Supply Chain Threats, Even Without COVID-19 - Last week, Resilinc, a Milpitas, California-based provider of supply chain risk management research and analytics, presented a webinar on its latest disruptions data as another hurricane was approaching the Gulf Coast. - more

   Other News

  • Reuters The Day Ahead - pdf here
  •  International Stainless Steel Forum - more
  • China exports grow 9.9% as supply chain trends fuel rebound - more
  • Futures Rise Before Earnings; Pound Pares Drop: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Tuesday, October 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $6.88/lb ($15,165/tonne). Indicators at 6:05 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouse rose over 1000 tonnes and started today, just over the 236,900 tonne level. Nickel ended lower yesterday, but is back on the positive side this morning, despite a stronger U.S. Dollar. Whether he awards a contract or not, or whether any mining company does or does not get a contract, Elon Musk has shaken up the nickel industry, by dangling a huge contract out there. This time a few years ago, executives at BHP had given up on nickel, and appeared to be concentrating their energy back on their core metal - iron ore. Now, they, like many of their competitors, are trying to 'out green' one another in their future nickel operations. Making Vale's Goro on New Caledonia 'greener' must have been an impossible task, or Musk could probably buy his own mine on the cheap. Lots of news below, so we leave you with it. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.64/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai aluminium at 2-1/2-year high as supply concerns lift prices - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2946/lb
  • SHFE Stainless Steel  Futures -  14,280

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper nears multi-year highs on Chinese demand - Copper touched a three-week high on Monday as demand from top consumer China and the threat of strikes by miners in Chile pushed prices closer to 27-month highs reached in September, though a strengthening yuan limited gains. - more

      EU's AD imposition on stainless steel HRC may benefit Taiwan's exporting - Since the European Steel Association (EUROFER) complained last year that China, Taiwan, and Indonesia had dumped stainless steel hot-rolled coil (HRC) at prices lower than fair value, the European Commission started an investigation in August 2019 and later on announced a temporary anti-dumping (AD) duty on the countries in April this year. - more

      BHP delays sulphate output until first-half 2020, pushes green battery supply chain - BHP Group BHP.AX will begin production of nickel sulphate by the middle of next year as it focuses on improving the green credentials of operations that will supply battery materials to the automotive industry, an executive said on Tuesday. - more

      Indonesia to create firm to build up electric vehicle battery industry - A group of Indonesian state-owned companies will form a venture to make batteries to power electric vehicles, the Mining Industry Indonesia chief executive said on Tuesday. - more

      Nornikel Prosecuted By Court In Connection With Norilsk Accident - The arbitration tribunal of Krasnoyarsk Krai has granted a petition to include Norilsk Nickel, a major shareholder of Norilsk-Taimyr Energy Company as a liable party in a legal claim for 148 billion rubles (1,92 billion Dollars) filed by Russian Federal Consumer Rights watchdog Rospotrebnadzor. - more

      SA’s ferroalloys industry facing destruction owing to unstinting electricity tariff increases - South Africa’s ferroalloys industry faced “destruction” owing to a sixfold increase in the electricity tariff provided by the country’s power utility, Eskom, said BusinessLive. - more

      Minnesota Supreme Court to take up PolyMet mine dispute - A dispute over the future of the proposed PolyMet copper-nickel mine goes before the Minnesota Supreme Court on Tuesday. - more

      Zimplats sinks US$200m - Australian Stock Exchange-listed resources giant Zimplats is scouring Zimbabwean landscapes to unlock fresh opportunities, possibly bolstered by fresh policies giving foreign investors the right to hold controlling stakes in mines. - more

      Courtesy AISI - In the week ending on October 10, 2020, domestic raw steel production was 1,502,000 net tons while the capability utilization rate was 67.9 percent. Production was 1,805,000 net tons in the week ending October 10, 2019 while the capability utilization then was 78.0 percent. The current week production represents a 16.8 percent decrease from the same period in the previous year. Production for the week ending October 10, 2020 is up 1.2 percent from the previous week ending October 3, 2020 when production was 1,484,000 net tons and the rate of capability utilization was 66.6 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Drift With U.S. Futures as Earnings Roll In: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Monday, October 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $6.90/lb ($15,220/tonne). Indicators at 6:15 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and ended the week just over the 235,900 tonne level. Nickel is quiet today, after jumping much higher on Friday. China returned, with traders having a big day last Friday playing catch-up to LME traders. This sudden spike seemed to carry over into LME markets on Friday, with the SMM playing catch up again this morning. So far today, LME traders seem to be taking a pause. Australia is hosting its second in person metals conference in as many weeks, when it hosts the Diggers and Dealers forum this week. More info can be found here. Covid-19 is working its way back into the headlines. Cases are on the rise again in the US, with some states setting daily all time record high diagnosed cases. The unofficial counter worldometers, has total U.S. cases crossing the 8 million threshold today. The seven day average for covid deaths in the U.S. was at 725 yesterday and that chart shows an ever so slight decrease over the past two months. Speaking of covid, we leave you with the news that it doesn't pay to be a mink in Utah. Over 8,000 minks have died in the last two weeks from a covid-19 outbreak in that state. These minks were and are being farmed for fur factories so, as we said, it REALLY doesn't pay to be a mink in Utah. It's Monday and we are all still on top of the grass. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.61/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper rises for 5th day on hopes of China demand, U.S. stimulus - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2946
  • SHFE Stainless Steel  Futures -  14,510
  • United States Imports of Nickel - more
  • U.S. Monthly Wholesale Trade - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - U.S. aid talks and Chile strike propel copper to two-week peak - Copper prices rose to two-week highs on Friday after talks about financial aid for the U.S. economy restarted, the dollar slipped and miners went on strike in Chile, a top producer of the industrial metal. - more

      Canadian nickel miners claim carbon-neutral mining for EV battery metal - Mineral-rich Canada has potential to become a preferred supplier of cleaner nickel to power electric vehicles (EV), miners say, as automakers scour the globe for more environmentally friendly supplies of the metal. - more

      BHP addresses bacteria growth at Nickel West - BHP has reported an elevated level of aerobic bacteria at its Nickel West operations in Western Australia. - more

      New Caledonia launches consultation on nickel sector - A broad consultation has been launched by the government of New Caledonia about the territory's nickel resource to develop strategies for the future. - more

      Steel Safety Day and the COVID-19 pandemic - 2020 has been a year full of challenges for the steel industry. On the one hand we have witnessed human and economic losses that significantly impact our current way of life and on the other we have been active participants in the response to and mitigation of the effects of the COVID-19 pandemic. - more

      August Steel Shipments Down 22.9% from August 2019 -  The American Iron and Steel Institute (AISI) reported today that for the month of August 2020, U.S. steel mills shipped 6,532,652 net tons, a 8.2 percent increase from the 6,035,596 net tons shipped in the previous month, July 2020, and a 22.9 percent decrease from the 8,472,088 net tons shipped in August 2019. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Be prepared: A return to normal is still a long way away, warns banking billionaire Jamie Dimon - more
  • European Stocks Rise With U.S. Futures; Yuan Falls: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

At least 8K mink dead of COVID-19 in Utah - more

Friday, October 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $6.65/lb ($14,665/tonne). Indicators at 6:45 am CST today show nickel trading around $.17/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell by 3 lots and started today just under the 236,100 tonne level. Nickel gained a whole $10/tonne in yesterday's trading, but in overnight trading, ie around the time Chinese markets opened for the first time in eight days, the traded price jumped by nearly $400/tonne and has moved little since. Either Chinese traders have come back in a bullish mood, or someone else is betting they are. We suspect it is the former as nickel on the Shanghai Metal Markets jumped nearly 2-1/2% in their first trading day in over a week. It's another hurricane weekend here in the States, the tenth to visit our beaches this year and just  another reminder that 2020 isn't over yet. Stay safe out there and have a restful and relaxing weekend.
  • Average price of LME traded cash nickel so far this month - $6.57/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper set for biggest weekly jump in 3 months on U.S. stimulus hopes, Chile strike - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.2946/lb
  • SHFE Stainless Steel  Futures -  14,510
  • The Australian Mining Review - online here
  • Recycling Today October 2020 - more
  • Producer Price Index by Commodity: Pulp, Paper, and Allied Products - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Tighter LME market helps lift aluminium to three-week high - Aluminium prices on the London Metal Exchange (LME) on Thursday hit a three-week high, driven by expectations of solid demand and signs of tighter supply. - more

      Vale confirms closure of New Caledonia nickel plant - The Brazilian miner Vale has reconfirmed that it will shut its nickel plant in New Caledonia, which is likely to trigger massive job losses. - more

      Global outlook for steel industry turns stable from negative : Moody’s - Global demand for steel is picking up as pandemic-related lockdowns have eased and industries are resuming production, turning their outlook to stable from negative, says Moody’s Investors Service. - more

      US Trade Numbers courtesy World City (search any item)

  • U.S. exports of Nickel decreased 34.24 percent from $197.16 million to $129.66 million through the first eight months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. imports of Nickel decreased 5.44 percent from $868.91 million to $821.68 million through the first eight months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. exports of Stainless steel wire decreased 13.13 percent from $93.57 million to $81.28 million through the first eight months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. imports of Stainless steel wire decreased 30.07 percent from $142.07 million to $99.36 million through the first eight months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. exports of Stainless steel, not less than 600mm wide decreased 34.48 percent from $552.47 million to $361.96 million through the first eight months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. imports of Stainless steel wire decreased 30.07 percent from $142.07 million to $99.36 million through the first eight months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. exports of Misc. stainless steel bars, rods decreased 18.50 percent from $248.65 million to $202.66 million through the first eight months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. imports of Misc. stainless steel bars, rods decreased 30.93 percent from $388.11 million to $268.08 million through the first eight months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
      Definitive Anti-Dumping duties on Indonesia, China and Taiwan stainless steel imports a necessary measure - The Commission has imposed definitive measures on imports of stainless steel hot rolled sheets and coils from China, Indonesia and Taiwan. - more

      Stainless Sustainability: The Circular Economy of Metal - Going green and ensuring the highest sustainability with the world's energy resources is a growing necessity in the current age of business.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Distributor Pandemic Index Bounces Back With Solid Gain - more
  • Trump steel tariffs bring job losses to swing state Michigan - more
  • Futures Advance With Global Stocks; Dollar Drops: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Thursday, October 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $6.65/lb ($14,655/tonne). Indicators at 6:05 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose by 5 lots on Wednesday, well below the 100 tonne level (again), and started the day just below the 236,100 tonne level. Nickel is trading at its highest since September 21st and the bulls appear to be betting the Chinese will have good news when, and if, they ever return to work. China was reportedly opening today, but when Reuters reported they didn't yet, we decided to find out why. Apparently every fifth year or so, their seven day holiday is an eight day holiday and thus they may return to work tomorrow. If so, we will have some SMM info for you.  In other news, an Australian nickel refinery is on the alert for Legionnaires' disease. Well why not. It is 2020 for crying out loud. And for the record - Legionnaires is an American discovered virus, thus an American virus, so this is obviously an American attempt to punish Australia for.... oh we don't know .... something. If one can remember the world pre-pandemic, Australia gave us the first evidence that 2020 was going to be a bad year. Remember those national news stories of firefighters there giving water to thirsty and burnt koala bears, while the country seemingly burning down around them. That was the first week of January and 2020 really hasn't gotten any better since. Interesting claim (story below) made about Giga Metals, the first company to reportedly negotiate with Tesla. We got up early this morning, only to discover that once again, not only did the Swedes forget to award our little news site the Nobel Prize for Literature, they forgot to nominate us ..... yet again. Like the Cleveland Indians fan says ... maybe next year. On the other hand, we did receive an email telling us we had inherited a tidy sum from an recently deceased African king. It's Thursday and we are on the downhill slide. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.56/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper slips as China absent from market - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - closed
  • Barchart 304 Stainless Steel Scrap Index - $.2964/lb
  • SHFE Stainless Steel  Futures -  closed
  • Distributor's Link Magazine Fall 2020 - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Breach of technical levels creates momentum for copper's rally - Copper jumped on Wednesday as expectations of improving growth and robust demand boosted sentiment and triggered a buying spree which pushed prices through key resistance levels, creating further upside momentum. - more

      China’s stainless steel demand in good shape due to growing consumption - China’s stainless steel output dropped by 2.74% year on year in the first half of 2020, and the output was expected to keep stable or slightly hike for the whole 2020. - more

      New COVID-19 case confirmed at Nunavik Nickel mine - Nunavik health authorities have confirmed a new case of COVID-19 at Canadian Royalties’ Nunavik Nickel mine site. - more

      BHP refinery south of Perth on alert over potentially deadly disease - Workers from BHP's Nickel West refinery in Perth's south may need to be tested for Legionnaires' disease after testing of infrastructure at the Kwinana site reportedly showed elevated levels of the potentially deadly bacteria. - more

      Clausi on Giga Metals insiders riding the Reuters’ Tesla story and the regulators who turned a blind eye - For background, you can’t do better than read Chris Parry’s excellent article here. - more

      Philippines turns to idle mining assets to raise extra revenue - The Philippine government is seeking to raise additional revenue by pushing for the resumption of operations at idle state-owned mining projects, including through the sale of its Nonoc nickel assets, Finance Secretary Carlos Dominguez said on Wednesday. - more

      REFILE-EU imposes import duties on China, Indonesia, Taiwan stainless steel - The European Union will impose tariffs on imports of hot-rolled stainless steel coils and sheets from China, Indonesia and Taiwan after an investigation found they were being sold at artificially low prices. - more

      India mulls extending anti-dumping duties on some steel products from U.S., others - India’s Commerce Ministry has launched an inquiry, based on a complaint by Indian steel players, to review the need to reimpose anti-dumping duties on certain steel products imported from at least seven countries, the New Indian Express reported. - more

      Indonesian state miner completes 20% stake buy in Vale unit for $375 million - Indonesia’s state miner Mining Industry Indonesia (MIND ID), formerly known as PT Inalum, completed its purchase of a 20% stake in nickel miner PT Vale Indonesia, the country’s state- owned enterprises ministry said on Thursday. - more

      A road map for grinding and finishing stainless steel - Imagine a fabricator lands a contract involving critical stainless steel fabrication. Sheet metal and tubular sections flow through cutting, bending, and welding, then land at the finishing station. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • World trade to decline 9.2% in 2020 due to pandemic, seen rising by 7.2% next year, says WTO - more
  • ISM Monthly Manufacturing Report Points Finger At Slower Deliveries From Suppliers - more
  • German Industrial Output Unexpectedly Drops as Virus Spreads - more
  • Stocks Advance on Stimulus Hopes; Dollar Weakens: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Are People Overconfident about Avoiding COVID-19? - more

Wednesday, October 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $6.57/lb ($14,490/tonne). Indicators at 6:15 am CST today show nickel trading around $.09/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell by less than 100 tonnes again, and started the day just over the 236,000 tonne level. Nickel is up this morning, possibly because the electric vehicle news is back in the headlines. Tesla is apparently in negotiations with nearly everyone over nickel supplies. And at least one metals analyst feels the nickel industry will be in a serious deficit situation by 2030, with Tesla needing 50% of all nickel mined by then. We have heard all this before, and it is really hard to sell with nickel inventories not cooperating. We started this year with 153,318 tonnes in LME stockpiles and yesterday, there were 236,124 tonnes. Not exactly in a situation where buyers are panic buying you see. Covid has slowed things down, and that has skewed just about every statistic you will see. But there is a legitimate threat out there, and it depends how long we want to look into the future, whether we can see it or not. Electric cars are catching on, and Tesla's recent announcement on removing cobalt from their batteries will help .... and hurt nickel producers. Cobalt is a by product for many nickel miners, and its high selling price helps offset lower profit nickel mining - or loss mining. Take away a major chunk of cobalt's market and the price could plummet, biting into their profit.loss statement. Nickel volume should increase to offset the loss of sales, but unless the price of nickel increases, the profit potential is not recovered. So its a good news, potentially bad news announcement for nickel miners. For stainless steel producers, it's time to think about taking the offense. Tesla is out their negotiating with all the major miners and it they come to some sort of supply agreement, that is nickel out of your reach. That should be a concerning thought. With major producers in China and India potentially at odds with Tesla over supply, one can see a time when U.S. and European stainless steel producers suddenly losing some of that clout that they have built up over years. Lot of news below and the two 'forecast' articles, shown next to the rolling dice, are worth reading. It's hump day, and China is back to work tomorrow. Stay safe and have a wonderful day!
  • Average price of LME traded cash nickel so far this month - $6.54/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper up on U.S. airlines, payroll aid hopes after stimulus deal stalls - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - closed
  • Barchart 304 Stainless Steel Scrap Index - $.3042/lb
  • SHFE Stainless Steel  Futures -  closed
  • BEA August 2020 Trade Gap is $67.1 Billion - more
  • Fastener Distributor Index - pdf here
  • U.S. International Trade in Goods and Services - pdf here
  • Jaguar: the new global nickel project - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Copper slips on worries over economic recovery - Copper edged lower on Tuesday as concern over the economic impact of rising coronavirus cases and a jump in metal inventories offset worries about possible strike action in Chile. - more

      Metals Analyst: By 2030 Tesla To Need 50% Of All Nickel Supply, Doubts Viability Of future Plans - A Metals analyst casts doubt in Tesla's ability to reach its battery day goals saying, the company will need 50% of the current world nickel production to reach its 2030 goals. - more

      COVID-19 recovery to bring metal price mini-boom, not super-cycle - EY  - The current stimulus-led metals price recovery from COVID-19 lows won't result in a supercycle but rather a mini-boom, with heightened price volatility, Paul Mitchell, Global Mining & Metals Leader at consultancy Ernst & Young, told S&P Global Platts in an interview. - more

      Tesla in talks with BHP over nickel supply pact - Tesla Inc is in talks with BHP Group about a nickel supply deal as the electric-car maker targets higher production and seeks to avoid a supply crunch, Bloomberg News reported on Tuesday, citing people familiar with the matter. - more

      First Quantum sets Ravensthorpe targets - TSX-listed First Quantum is expecting to produce between 15 000 t and 17 000 t of nickel from its recently restarted Ravensthorpe mine, in Western Australia. - more

      Gov’t to sell mining assets as mine sites reopen - The Department of Finance (DOF) wants to revive the mining industry to create jobs in rural as well as generate revenues for the government’s efforts in rebuilding the economy hit by the pandemic. - more

      Universal Stainless Reaches Labor Agreement at Its Titusville Facility -  Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that it has reached a new 5-year collective bargaining agreement with the hourly employees at its Titusville, PA facility represented by Local 7312-03 of the United Steelworkers.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • World Trade Forecast for Smaller Drop, Longer Recovery - more
  • S&P Futures Rise, Treasuries Dip Amid Trump Tweets: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Coronavirus could kill more than 2 million people by the end of the year, researchers say - more

Tuesday, October 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $6.63/lb   ($14,620/tonne). Indicators at 6:10 am CST today show nickel trading around $.03/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just over the 236,100 tonne level. For the third consecutive day, LME stockpiles fell or rose by less than 100 tonnes, the last two days showing declines of less than 50 tonnes, possibly reflecting the closure of China, the worlds largest consumer. China returns from their week-long holiday on Thursday. Jim Lennon was the keynote speaker for day one of the Paydirt Nickel Conference and part of what he predicted is below. Not a whole lot to talk about today. It's Tuesday, and besides no longer being Monday, what can we say about Tuesday? Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.51/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises on U.S. stimulus hope, Chile mining risks - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - closed
  • Barchart 304 Stainless Steel Scrap Index - $.301/lb
  • SHFE Stainless Steel  Futures -  closed
  • Industrial Distribution September/October - online here
  • Metalforming Magazine - online here
  • Jindal Stainless Post - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper falls despite reports of improvement in Trump's health - Copper prices fell on Monday as signs of weakening demand outweighed the positive mood on wider markets after reports that U.S. President Donald Trump may soon be released from hospital, where he is being treated for COVID-19. - more

      Nickel supply to drop by 2025 – Macquarie -  Global financial services provider Macquarie Group has called for investment into the nickel sector, despite an anticipated oversupply in the near-term. - more

      US grabs stake in battery metals miner to fight Chinese control - The US government is taking a $25 million equity stake in Dublin-based battery metals miner TechMet, as part of a push by President Donald Trump to reduce the country’s reliance on supply chains dominated by China. - more

      Centre to review anti-dumping duty on steel products - The Commerce Ministry’s investigation arm DGTR has initiated a probe to review the need to continue imposition of anti-dumping duty on certain types of steel products imported from China, Korea, European Union, South Africa, Taiwan, Thailand and the US following complaints from domestic industry, according to a notification. - more

      Nornickel disputes environmental cost of Arctic fuel spill - Russia’s Norilsk Nickel estimates the environmental cost of a huge fuel spill in the Arctic in May is 21.4 billion roubles ($273 million), far less than an assessment by the country’s environment watchdog, which has begun court action. - more

      Here is an article from 1881 that we thought you might be interested in. If nothing else, it might give you an idea for the next presentation you give. 139 year old talk is still applicable. Just think of what you could say about the potential future of a small piece of nickel ore. This was taken from the 1888 version of Banker's Magazine.

      Courtesy AISI - In the week ending on October 3, 2020, domestic raw steel production was 1,484,000 net tons while the capability utilization rate was 66.6 percent. Production was 1,803,000 net tons in the week ending October 3, 2019 while the capability utilization then was 77.7 percent. The current week production represents a 17.7 percent decrease from the same period in the previous year. Production for the week ending October 3, 2020 is up 0.3 percent from the previous week ending September 26, 2020 when production was 1,480,000 net tons and the rate of capability utilization was 66.1 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Europe Stocks Slip After Rally; Treasuries Gain: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Monday, October 5

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $6.54/lb ($14,420/tonne). Indicators at 6:10 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday and started this week just under the 236,200 tonne level. Nickel is slightly lower this morning, but considering the drop in the U.S. Dollar, that may not last long. Equity markets are higher on U.S. stimulus hopes, as economists begin to worry the U.S. economic recovery is slowing too soon. Paydirt's Australian Nickel Conference opens tomorrow in Perth, and for the first time since possibly March, this conference won't be cyber. In light of the recent surges worldwide, this is a risky endeavor and we hope everyone remains safe. If not, it will be a black eye on the industry. More on the conference can be found here. China remains closed for holiday until Thursday. More and more miners and countries are admitting they are in talks with Tesla. Is this the reason the Indonesia mine below decided not to dump nickel waste directly in the ocean? New Caledonia voters again rejected independence on Sunday. This keeps France in control, which keeps other countries involvement in the island's interests in check, including their nickel mines. It's Monday and the first full week of the final quarter of 2020. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $6.51/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper dips as global volatility shakes investors' confidence - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - closed
  • Barchart 304 Stainless Steel Scrap Index - $.301/lb
  • SHFE Stainless Steel  Futures - closed
  • Global Manufacturing PMI's - pdf here
  • U.S. Economic Indicators - more
  • ISM September Manufacturing PM - full report
  • Manufacturers’ Shipments, Inventories, & Orders - pdf here
  • University of Michigan: Consumer Sentiment - more
  • Manufacturing Engineering Magazine - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper hits seven-week lows after Trump tests positive for coronavirus - Copper prices hit seven-week lows on Friday as demand and economic growth concerns were reinforced by news that U.S. President Donald Trump had tested positive for the coronavirus, as well as a firmer dollar. - more

      Miner Vale in talks with Tesla, EV sector for Canada nickel: executive - Brazilian miner Vale SA is in talks with Tesla and others in the electric vehicle (EV) supply chain about securing nickel from its Canadian operations, the head of the miner’s base metals unit said on Friday. - more

      Indonesia says in early talks with Tesla on potential investment - Indonesia's government is in early discussions with electric vehicles maker Tesla Inc TSLA.O about a potential investment in the Southeast Asia country, a major producer of nickel, an official said. - more

      New Caledonia rejects full independence from France again - The South Pacific archipelago of New Caledonia voted against independence from France on Sunday for the second time in as many years, a provisional final count showed. - more

      Indonesia says battery-grade nickel project drops deep-sea waste plan - An Indonesian nickel smelting project being built by China’s Tsingshan Group and partner companies to produce battery-grade chemicals has withdrawn a request to dispose of waste in the ocean, a government official said on Friday. - more

       RockTalk: Australia’s nickel outlook post-pandemic - RockTalk is a Stockhead video series featuring a roundtable of resources experts discussing a new macro topic each week. In this episode, host Peter Strachan takes a look at the future of Australia’s nickel market. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • JPMorgan to pay $920 million for manipulating precious metals, treasury market - more
  • Distributor Pandemic Index Shows First Daily Sales Decline Since Early August - more
  • US Hiring Slows for 3rd Month in Sign of Struggling Economy - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Friday, October 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $6.51/lb ($14,345/tonne). Indicators at 6:30 am CST today show nickel trading around $.07/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and stood just over the 236,200 tonne level this morning. The market is waking to news that President Trump, his wife, and at least one member of his staff have tested positive for covid-19 overnight. Markets despise the unknown and this is yet another 'unknown'. The commodities trading board is a sea of red this morning, as are many world markets. Even though his age and weight put him in the risk category, the odds of a quick recovery are in his favor. Of the 34+ million known cases that have been diagnosed around the world, over 25 million have fully recovered, with just over a million succumbing to the disease. It is a reality check and reminder to those who chose to ignore the safety measures put out by the CDC, that this virus is no respecter of persons and seeks opportunity to spread and sicken without any prejudice. For the long range future of nickel supply, the Independence vote in New Caledonia on Sunday could be important. It's Friday and a weekend is just around the corner. Stay safe, and have a relaxing weekend.
  • Average price of LME traded cash nickel so far this month - $6.55/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits 7-week low as dollar firms after Trump catches COVID-19 - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - closed
  • Barchart 304 Stainless Steel Scrap Index - $.301/lb
  • SHFE Stainless Steel  Futures -  closed
  • Global Manufacturing PMIs - pdf here
  • U.S. Industrial Production - pdf here
  • BEA Gross Domestic Product (3rd Estimate) - more
  • U.S. Construction Spending - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper slides 4% on virus worries, surge in inventories - Copper prices tumbled more than 4% on Thursday, to their lowest in more than a month, as worries about rising inventories and increasing COVID-19 cases overshadowed hopes for a new inflow of U.S. stimulus. - more

      Taiwan’s Yusco keeps stainless steel prices flat for Oct - Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, announced to keep its new prices unchanged for October today (September 29). - more

      New study shows life cycle of stainless steels - Team Stainless today published ‘The Global Life Cycle of Stainless Steels’, a summary of the results of a study which quantifies the stocks and flows cycle of stainless steels.  - pdf here

      Trump pushes mining with order, but effects are uncertain - The Trump administration is seeking to fast-track mining projects and could offer grants and loans to help companies pay for equipment, administration officials said Thursday, as they offered details on a plan that critics said could spoil rivers and lakes in Minnesota, Idaho and elsewhere with mining pollution. - more

      Economy Plunges 31.4% in Spring, but Big Rebound Expected - Economists believe the economy will expand at an annual rate of 30% in the current quarter, shattering a 50-year-old record. - more

      Five things to know about the far-flung French territory holding an independence referendum - On Sunday voters go to the polls in the tiny Pacific island of New Caledonia to vote on independence from France. Here's what is happening and how the island became French in the first place. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Why Johnson’s Britain is turning ‘rogue state’ over Brexit - more
  • Futures Drop as Trump Tests Positive; Dollar Gains: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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

Trump, first lady in quarantine after testing positive for COVID-19 - more

Thursday, October 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $6.60/lb ($14,545/tonne). Indicators at 6:10 am CST today show nickel trading around $.04/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just over the 236,100 tonne level. Nickel is see sawing back and forth, and is apparently using the $14,500 tonne level as the post. A few statistics from September. We started the month with 238,722 tonnes in LME warehouses, and we ended with 236,148 tonnes. We remain in the 24% cancellation zone, and have been in the 23-25% range since the pandemic went international in March. The average price for daily LME cash nickel rose from $6.57/lb in August to $6.74/lb in September. September now bumps August as the highest monthly average for 2020. We welcome back Taunton Metals as our October sponsor. Thanks to them, and our other monthly sponsors, we are able to bring you daily updates on the nickel and stainless steel industries. It's a new month and the beginning of the final quarter of 2020. Many would say we can't get over this year soon enough. Others see opportunity in difficulty. However you see the world, you have three months left to decide how you will remember this year. Stay safe and have a great Thursday.
  • Average price of LME traded cash nickel so far this month - $6.74/lb (average September)
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits over one-week high on softer dollar, U.S. stimulus hopes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - on vacation
  • Barchart 304 Stainless Steel Scrap Index - $.3032/lb
  • SHFE Stainless Steel  Futures -  closed
  • Global Manufacturing PMIs - pdf here
  • Industrial Distribution's 2019 Big 50 List - more
  • US Economic Indicators:Industrial Production - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper rebounds on upbeat Chinese and U.S. economic data - Copper prices rebounded on Wednesday on strong economic data from top metals consumer China and the United States, shrugging off a surge in inventories. - more

      Tesla As A Mining Company. Lithium Today, Nickel Tomorrow? - Lithium mining today, so why not nickel mining tomorrow? That’s a question which investors in Tesla and other electric car (EV) makers ought to consider as a raw material rush heats up. - more

      EU investigates stainless steel imports from India, Indonesia - The European Commission has started an investigation to determine whether to impose tariffs on imports of cold-rolled flat stainless steel from India and Indonesia that EU producers say are arriving in Europe at unfairly low prices. - more

      Russian stainless steel imports drop in Aug m-o-m - According to statistics from the Russian Special Steel and Alloys Consumers and Suppliers Association, Russia imported around 18,000 tons of stainless steel in August, dropping by nearly 30% compared to the previous month. - more

      Nickel Monthly News For The Month Of September 2020 - Nickel spot prices were slightly lower in September, and the LME inventory was slightly lower than last month. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • US August goods-trade gap widens to record on jump in imports - more
  • U.S. Futures, Europe Stocks Climb on Stimulus Hope: Markets Wrap - more

  Morning Nickel Prices

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

Virus News and Numbers

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


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


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