Notice: China's National Day holiday - SMM offices will be closed tomorrow October 1, to Monday October 7 for their National Day holiday.

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed yesterday's trading session at $7.82/lb ($17,240/tonne). Indicators at 6:10 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday, and started today's session, just under the 158,000 tonne level. China started a week long holiday when their session ended earlier today, so metals news from there will be slim pickings. A Wall Street Journal article is helping attract more attention to the forecasted deficit of nickel in the face of growing battery demand. Today ends the third quarter of 2019, and the fourth quarter has the potential to be just as volatile.  During the last quarter, we saw nickel trade as low as around $12,100/tonne, to as high as around $18,500 tonne. And while future demand, and future supply restrictions, made up most of the news this past quarter, LME stockpile totals started around 161,700 tonne on July 1st, and after falling early in the quarter, grew in the latter part. Average loss over the past 3 months would average a little over 1000 tonnes per month.  The big news of the quarter was Indonesia's decision to implement an export ban of nickel ore at the end of this year. To help with some of the anticipated nickel were the announcement's that Ravensthorpe is firing back up, as is Onca Puma in Brazil. LME Week is one month away, and is typically followed by some volatility. New impeachment talks in Washington could give the President a reason to compromise in his trade war with China, as the administration could look for some good news. Any end to the trade war will be seen as positive by world markets. And in Europe, Brexit is just around the corner. An interesting month ahead, and we invite you to join us as we watch it. Have a great week, and October offers you a new opportunity.
  
• Average price of LME traded cash nickel so far this month - $8.02/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Copper steadies as China factory activity improves - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - no report, early vacation?
  
• Reuters The Day Ahead - pdf here
• (U.S.) State Coincident Index - pdf here
• October 2019 - The Australian Mining Review - pdf here
• RBC  Commodity Price Monitor - pdf here
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Trump considers delisting Chinese firms from US stock markets - more
  
• China tells UN: tariffs, trade disputes could plunge world into recession - more
• Holiday blues: Chinese shoppers set to snub 70th National Day - more
  
• Stocks Mixed as U.S. Futures Climb; Dollar Steady: Markets Wrap - more

     Yesterday's market review - Aluminium slides to lowest since January 2017 - Aluminium prices were set for their biggest weekly decline since last October as falling alumina prices and a weak demand outlook dragged the metal used in transport and packaging to its lowest level since January 2017. - more

      Russia: stainless steel output down in August 2019 - In August stainless steel manufacture (primary forms and semi-finished products) totaled 12.7 thousand tons, down by 19.7% YoY and by 9.1% MoM. - more

       Rising Nickel Costs Squeeze Stainless Steel Producers’ Margins - Rising nickel prices have lifted the input costs for most stainless steel producers, significantly, in recent months. - more

      Taiwan decides not to levy AD & CVD duty on China’s steel - According to the result of the anti-dumping and countervailing duty investigation from Taiwanese Ministry of Finance on imported Chinese steel products on September 26th, Taiwanese government announced not to impose the tariff on those products to prevent domestic downstream steelmakers, but would still consider the current market situation to decide levy or not on any of time. - more

      Noront secures site for ferrochrome plant to service Ring of Fire deposits - TSX-V-listed Noront Resources has secured a property in Sault Ste Marie, Ontario, to build and operate a ferrochrome production facility to service its chromite deposits in the emerging metals camp known as the Ring of Fire. - more

  Morning Nickel Price Statistics & Figures

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

  Abridged Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Thursday's trading session at $7.81/lb ($17,210/tonne). Indicators at 6:35 am CST today show nickel trading around $.04/lb  higher. Stockpiles of nickel in LME licensed warehouses rose on Thursday and stood just over the 158,100 tonne level this morning. Looking at the commodity trading board this morning is like looking at a sea of red, with only a few items selling in the positive. Nickel would be one of them. Cancelled warrants are now near 65%, while stockpiles totals bounce up and down, but look to grow for a second consecutive month. While Shanghai markets will be open on Monday, we expect them to be quiet. Very slow news day so we posted links to stuff we normally wouldn't. Have a safe and relaxing weekend and we invite you to join us next week.
  
• Average price of LME traded cash nickel so far this month - $8.02/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Aluminum heads for biggest weekly loss since December - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• Western Areas Corporate Presentation - pdf here
  

     Thursday's market review - Copper slips despite Trump's hint of quick trade deal with China - Copper prices fell on Thursday as investors focused on a weak demand outlook and were skeptical of a suggestion by U.S. President Donald Trump that he could soon reach a trade deal with China. - more

      Commodity outlook by Tradebulls Securities: Buy Crude oil, Nickel  - Commodity outlook and stock recommendation by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls Securities - more

• Goodbye China: Chinese manufacturers follow multinationals out the door - more
  

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed yesterday's trading session at $7.86/lb  ($17,325/tonne). Indicators at 6:15 am CST today show nickel trading around $.02/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Wednesday and started today just over the 157,200 tonne level. The erratic pattern in LME stockpiles continues and what looked like a month where withdrawals would once again outnumber inbound shipments yesterday, now looks questionable. The market's ability to maintain an average of $8/lb cash nickel is also now questionable. It's $8.03/lb today, but with three trading days left, it's going to take a pretty good bounce to achieve this mark. Quite a few reports published in the last 24 hours and linked below. We have a notice about Chinese markets being closed for a week starting next Tuesday, but as we stated earlier, many Chinese workers will take a personal day of vacation on Monday, so we expect 'tonight' to be the last real full trading day for China until Tuesday, October 8th.  We are following the trading of stainless steel on the China market and will decide in a month or so if its worth posting daily. Right now, it's brand new, with nothing to compare to, and at this point, the market is more curious than serious about the numbers.
  
• Average price of LME traded cash nickel so far this month - $8.03/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Copper drifts in thin trade ahead of China holiday - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• August SIMA Monthly Steel Factsheet - pdf here
• U.S. Imports of Stainless Steel Mill Products - more
• August 2019 crude steel production - more
• China Economic Update: September 2019 - more
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• US-China tensions spill over into capital markets - more
• Charts show China's explosive consumption of four critical commodities - more
  
• U.S. Futures, Europe Stocks Climb With Treasuries: Markets Wrap - more

     Yesterday's market review - Copper rebounds after Trump says may seal China deal - Copper prices erased losses on Wednesday after U.S. President Donald Trump held out the prospect of end to a trade war with top metals consumer China. - more

      African Chrome Fields Shuts Down, 500 Workers Rendered Jobless - One of the country’s largest ferrochrome producers, African Chrome fields (ACF), has shut down its mining operations in Kwekwe, laying off over 500 workers. - more

      Signatures on 'say no to ferrochrome' petition pass 5,000 mark - A little after 6 p.m. Wednesday, signatures on an online petition opposing ferrochrome production in Sault Ste. Marie reached the 5,000 mark. - more

• Mayor Provenzano’s response to physicians concerned over Ferrochrome Production Facility - more
  

      What is ferrochrome? - Ferro-Chrome is an alloy of chromium and iron containing between 50% and 70% chromium. - more

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed yesterday's trading session at $7.79/lb ($17,180/tonne). Indicators at 6:20 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just over the 153,500 tonne level. LME inventory showed nickel started the month sitting at 152,600+ tonnes, grew to 166,680 tonnes on the 13th, and are back to 153,500+ tonnes today. Cancelled warrants started the month at 41+%, was 50+% on the 13th and sits at 61+% today. In Australia, and filed under "WTF", Clive is back and announcing he wants to re-open the Townsville nickel refinery. How would you like to be the mayor of that town? No mayor wants to turn down job opportunities for his/her constituents, but the old saying "fool me once, shame on you", "fool me twice, shame on me" comes immediately to mind. Will be interesting to see if this goes anywhere. Updated October stainless steel surcharges - back to. or a tsad higher, than where they were last September.
  
• Average price of LME traded cash nickel so far this month - $8.05/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Copper eases as U.S.-China trade optimism fades - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Battery trends in the PV and EV markets - more
• Mincor strengthens Kambalda restart with ‘exceptional’ nickel intercept - more
  
• Stocks Slide in Europe and Asia; Oil Extends Drop: Markets Wrap - more

     Yesterday's market review - Planned U.S.-China trade talks help copper steady - Copper prices steadied on Tuesday as plans for a meeting between high-ranking U.S. and Chinese officials in two-weeks encouraged hopes for an end to the trade dispute and helped ease concern about demand prospects. - more

      China's stainless steel futures slip on debut as trade war worries bite - Chinese stainless steel futures fell as much as 2% in their first day of trading on Wednesday as the latest episode in the bruising trade war between Washington and Beijing fanned concerns about ferrous metals demand. - more

      Palmer commits $400m to reopen Townsville refinery - Clive Palmer has claimed his company Mineralogy has allocated $400 million to reopen the Townsville refinery in 2020. - more

      China's August nickel ore imports from Indonesia surge 26.5% ahead of ban - China’s nickel ore imports from Indonesia rose 26.5% year-on-year in August, customs data showed on Wednesday, as stainless steel producers stocked up on raw materials ahead of a ban on exports from the Southeast Asian country. - more

      Physicians may leave if ferrochrome facility comes to the Sault, letter threatens - The following letter to the editor was submitted to SooToday and to local political representatives by Dr. Robert Suppes on behalf of a group of local physicians concerning the proposed Ferrochrome facility and resulting environmental and health risks involved: - more

      Should we mine copper and nickel in Minnesota … to help defeat climate change? - more

• Minerals in northern Minnesota pale in importance to the health of the state’s waters - more
  

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Monday's trading session at $7.87/lb ($17,350/tonne). Indicators at 6:20 am CST today show nickel trading around $.08/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just over the 156,100 tonne level. Nickel was advancing early this morning, but peaked at $17,500 tonne, and is now trading downward. Canceled warrants jumped to near 60% yesterday, although we are not really sure how much of a market indicator that is anymore. The big trading houses know how to manipulate the numbers with purchases and hiding inventory so .....? China will be shutting down on Tuesday, October 1st for a week and we suspect the last day of September falling on Monday will give many Chinese traders the excuse to take off an extra day. Unless something newsworthy happens later today, it appears it may be a quiet day.
  
• Average price of LME traded cash nickel so far this month - $8.06/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Copper ticks higher on trade talk optimism; other metals fall - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• US Economic Update – September 2019 - more
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Tesla million mile battery in the works - more
  
• U.S.-China trade talks will resume in two weeks - Mnuchin - more
  
• Stocks Advance on Trade Optimism; Treasuries Drift: Markets Wrap - more

     Monday's market review - Copper hits 2-1/2 week low, U.S.-China trade war dominates sentiment -  Copper prices fell to their lowest in two and a half weeks on Monday as weak demand prospects were reinforced by the latest round of U.S.-China talks which failed to yield signs of a breakthrough in the long-running trade row.  - more

      Difficult environment in nickel sector causes Acerinox to cut jobs - Bankinter | Acerinox has communicated to the regulator (CNMV) a proposal to cut 300 jobs which it Will also communicate to the Company Committee for the factory in the Campo of Gibraltar. - more

      Power Metal uncovers 'large scale' nickel sulphide targets - Exploration firm Power Metal Resources has uncovered "large scale" nickel sulphide targets across its Tanzanian and Botswana assets. - more

      China steel futures bounce back on falling inventory, output curbs - China steel futures rose on Monday, rebounding from a two-week low on falling inventory and fuelled by tightening output curbs in smog-prone cities pledged by the environment regulator ahead of the heating season. - more

      Courtesy AISI - In the week ending on September 21, 2019, domestic raw steel production was 1,809,000 net tons while the capability utilization rate was 77.7 percent. Production was 1,866,000 net tons in the week ending September 21, 2018 while the capability utilization then was 79.6 percent. The current week production represents a 3.1 percent decrease from the same period in the previous year. Production for the week ending September 21, 2019 is down 0.1 percent from the previous week ending September 14, 2019 when production was 1,811,000 net tons and the rate of capability utilization was 77.8 percent. - more

      Minnesota Officials Continue Fight Against PolyMet Proposals - Former Minnesota governor Arne Carlson and some Duluth officials raised their voices outside city hall Monday to continue their fight against the proposed PolyMet copper nickel mine on the Iron Range. - more

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Friday's trading session at $7.85/lb  ($17,300/tonne). Indicators at 6:20 am CST today show nickel trading around $.13/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Friday and started this full final week of September just shy of the 157,000 tonne level. Nickel continues its 4th business day in a bullish mood, after bottoming out last Tuesday, at the moment, trading about $750 tonne off that floor. The jump in stockpile numbers is somewhat surprising, and while numbers grew on Friday, cancelled warants also jumped from 46 to 55%. While some analysts are speculating this is being caused by stainless steel producers in China stocking up before their week long October holiday, this information is typically confidential. The average LME cash nickel price was headed below $8/lb for the month until Friday, and looks like it will stay above that level for the first time in a very long time. It averaged $7.11/lb last month, and is at $8.06/lb today. Now if you are a nickel miner or producer, that's wonderful news. If you are a stainless steel producer or user, or a battery producer or user, that is a punch in the gut for a Monday morning. Hopefully. we will have better news as the week progresses.
  
• Average price of LME traded cash nickel so far this month - $8.06/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Copper hits 2-1/2 week low, U.S.-China trade war dominates sentiment - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• U.S. Economy in a Snapshot - more
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• China delegation cancels US farm trip after trade talks wrap - more
  
• Gloomy European Data Hits Stocks as Bonds Advance: Markets Wrap - more

     Friday's market review - Nickel climbs as stainless steel producers prepare for Indonesia ban - Nickel prices climbed on Friday as stainless steel producers bought supplies ahead of a Chinese holiday and an Indonesian nickel ore export ban that could create shortages. - more

      Rising nickel prices bode well for cathode material makers - South Korea's cathode material producers are likely to see solid earnings in the fourth quarter of the year on a surge in nickel and cobalt prices, analysts here said Saturday, amid growing demand for electric vehicle (EV) batteries.- more

      Tesla patents its new batteries: higher performance, longer life and cheaper – As a result of an investigation whose results were presented in February this year, Tesla has applied for a patent for a new battery cell of lithium ions with a superior and more economical performance in terms of production. -

      Noront signs Ring of Fire deal with Algoma, Hatch - Noront Resources Ltd. said Friday September 20 that it has signed agreements with Algoma Steel Inc. and engineering consulting firm Hatch Ltd. to facilitate development of the Ring of Fire mineral district in northern Ontario and associated processing facilities. - more

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed yesterday's trading session at $7.75/lb ($17,075/tonne). Indicators at 6:10 am CST today show nickel trading around $.04/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just under the 157,800 tonne level. Traders are refusing to surrender the $17,000 level, having closed below it on Tuesday, but not since. The sudden shift in LME inventory numbers, reflecting large consecutive withdrawals is a reminder we were not producing enough nickel to cover demand before the Indonesia ban, so the future remains incredibly uncertain.We are still waiting for estimated EV sales for July to be totaled, but from the numbers we have seen so far, it appears July 2019 will see EV sales fall in the US compared to July 2018. Some more positive EV numbers that have been published recently include a first half growth in Europe at 34%, and 46% worldwide. Sales in China accounted for 57% of global sales in the first 6 month of 2019.  We will post an update tomorrow, approximately an hour later than we normally do.
  
• Average price of LME traded cash nickel so far this month - $8.07/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - LME copper prices decline due to guarded Fed, weak demand - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• SFSA CASTEEL Reporter - more
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• An unshackled Trump finally gets the presidency he always wanted - more
  
• U.S. Futures, Dollar Dip as Europe Stocks Advance: Markets Wrap - more
  

     Yesterday's market review - Copper retreats as demand worries dominate -  Copper prices fell on Wednesday as concern about demand and economic growth dominated sentiment, though rising hopes for a solution to a prolonged trade dispute between China and the United States limited losses. - more

      Philippines to decide on mine suspension appeals before year-end - The Philippines' Mines and Geosciences Bureau (MGB) said on Wednesday that it has granted a breather of another six months or until the year-end to five suspended mining companies, including two nickel ore producers, to rectify previous violations of environmental regulations before they can be allowed to resume operations - more

      Nickel sulphate returns to premiums over nickel on supply cuts, demand improvement – Prices of battery-grade nickel sulphate have again surpassed those of nickel briquette, bolstered by production curtailments and demand recovery. - more

      Truck driver dies after mine tragedy at Independence Group’s Nova nickel-copper project - An investigation is under way after a truck driver died following an incident at a Goldfields mine site. - more

      Indonesia Issues New Guideline on Sanctions for Delay in Smelter Construction and Accelerates the Ban on Nickel Ore Export  - The Minister of Energy and Mineral Resources (MEMR) recently issued Regulation No. 11 of 2019 (Regulation 11), which accelerates the ban on export of nickel ore with content below 1.7% to 31 December 2019. - more

      Court suspends two key PolyMet permits - In a major victory for environmental groups, a state court has put two key permits for the proposed PolyMet copper-nickel mine on hold, in advance of a hearing on the issue scheduled for next month. - more

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Tuesday's trading session at $7.64/lb ($16,850/tonne). Indicators at 6:20 am CST today show nickel trading around $.13.lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just over the 161,500 tonne level.  Nickel bounced off the $16,800 tonne level overnight and traders have regained the psychologically important $17,000/tonne level. Quiet day, as traders await news .... actually traders are awaiting on a lot of news. Today's topic is the Fed announcement, but in the wings remains the Iran attack on Saudi Arabia, the trade war with China, Brexit and its world effect, North Korea's erratic behavior, Venezuela's implosion, Russia's secret expansion, electronic vehicle sales, etc, etc. Anyone of these could effect the trading price of nickel, but for now, the immediate effect is the decision by Indonesia to ban exports of low content nickel ore at the end of this year.
  
• Average price of LME traded cash nickel so far this month - $8.09/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - London copper dips ahead of Fed rate decision - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• Mirae Asset Weekly Commodity Alert - pdf here
• U.S. Imports of Stainless Steel Mill Products - more
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Trump warns trade deal will be far tougher on China if after election - more
  
• Bonds Rally, Stocks Fluctuate as Traders Await Fed: Markets Wrap - more

     Tuesday's market review - Copper and other metals ease ahead of U.S.-China talks - Copper edged lower on Tuesday as investors doubted that U.S-China talks this week would lead to a speedy resolution of a long-running trade dispute and a recovery in metals demand. - more

      Nickel market records deficit in January to July 2019 - The nickel market was in deficit during January to July 2019 with apparent demand exceeding production by 78.7 kt. In the whole of 2018 the calculated deficit was 95.7 kt.. - more

      High-grade nickel ore key to filling Indonesia market gap — MGB - The nickel industry’s ability to supply high-grade products will be key to exploiting the market opportunity resulting from Indonesia’s nickel ore export ban, the mining regulator said. - more

      Why we should copy Sudbury: Letter to the Editor - As our city awaits the arrival of the Noront Resources ferrochrome production facility slated to be located just west of the steel plant we should be aware that our sister city Soo Michigan has been and still is dealing with toxic waste containing chromium 6 (which is the unavoidable byproduct of ferrochrome production). - more

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Monday's trading session at $7.88/lb  ($17,375/tonne). Indicators at 6:20 am CST today show nickel trading around $.16/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell yesterday and started today's session just over the 163,300 tonne level.  At one point on Friday, nickel was trading for over $18,100/tonne. This morning, nickel traded below $17,000/tonne momentarily. $17,000 will offer sentimental support, and if it fails, we still show technical support another $400/tonne lower. Nothing really changed over the weekend folks. As we noted yesterday, we are fast approaching the end the 3rd quarter, so we could merely be witnessing some of the big trading houses booking some profits to pump up their portfolio's. Watch the stockpiles numbers. After a month of steady gains, we have seen two consecutive days of declines. This has been the pattern all year, so if it returns, we will see inventory becoming a factor again.
  
• Average price of LME traded cash nickel so far this month - $8.13/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Base metals decline on poor demand outlook from China - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• China’s Steel Output Recovers In August - more
• China's slowdown deepens as trade war erodes output - more
  
• Positive Indian Ocean Dipole persists as ENSO remains neutral - more
  
• Europe Stocks, U.S. Futures Drift; Oil Edges Lower: Markets Wrap - more
  

     Monday's market review - Copper drifts lower on concern about fragile China data - Copper slipped on Monday after weak Chinese data fuelled worries about demand, but lead and zinc hit multi-months peaks after a mine suspension. - more

     Indonesian CR stainless steel to be included in EU safeguard system since Oct - It was reported that Indonesian hot and cold-rolled stainless steel sheets and strips would be included in the European safeguards system from the beginning of October, according to the latest approved safeguards amendment. - more

      Courtesy AISI - In the week ending on September 14, 2019, domestic raw steel production was 1,811,000 net tons while the capability utilization rate was 77.8 percent. Production was 1,866,000 net tons in the week ending September 14, 2018 while the capability utilization then was 79.6 percent. The current week production represents a 2.9 percent decrease from the same period in the previous year. Production for the week ending September 14, 2019 is down 1.3 percent from the previous week ending September 7, 2019 when production was 1,835,000 net tons and the rate of capability utilization was 78.8 percent. - more

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Friday's trading session at $8.05/lb  ($17,750/tonne). Indicators at 6:15 am CST today show nickel trading around $.24/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday, and after Thursday's huge gain, started this week, just under the 164,300 tonne level. Nickel, once again offering evidence to the cliché of its volatility, is in a steep dive this morning. We would have speculated this had to do with economic concerns caused by the attack on Saudi Arabian oil fields, except most of the commodity trading board is in the green this morning, so nickel is apparently falling on its own. More likely, this is merely the bears pushing their luck with the market showing a slightly negative trend since last Thursday. One big player is putting the hurt on another holding a long play, and possibly a little payback for a recent hurt on their losing short play. Onca Puma, getting the okay to reopen, is also getting attention. We show support at $7.56/lb and Monday looks to be a bearish day. Today begins the last half of the last month of the third quarter of 2019. It also starts the 100 day countdown to Christmas, as if you didn't have enough to worry about. Have a great week, and look for your success within yourself, not from those who keep moving the line of success farther and farther away.
  
• Average price of LME traded cash nickel so far this month - $8.16/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - LME copper slips from 1-1/2-mth high on weak China data - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• Where is Chinese industrial metals demand heading - pdf here
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• USGS Chromium Survey June 2019 - pdf here
• Nickel—Makes Stainless Steel Strong - pdf here
• OxyContin Maker Purdue Pharma Files for Bankruptcy to Wipe Out 2,000 Lawsuits -  more
• Recession Already Grips Corners of U.S., Menacing Trump’s 2020 Bid - more
  
• Platts China Steel Sentiment Index edges up to 5-month high in September - more
• Attacks wiped out half of Saudi Arabia's oil production — and it could lead to higher gas prices - more
  
• Crude Soars as Saudi Attack Spurs Shift to Havens: Markets Wrap - more

     Friday's market review - Copper touches 1-1/2 month high on optimism over trade talks - Copper hit the highest in 1-1/2 months on Friday as investors hoped an easing of trade tensions between the United States and China might eventually boost metals demand.  - more

      Australian nickel back in town - There was a time there back in 2016 when it looked as if the Australian nickel industry would wither away to nothing. - more

      Nickel mining indefinitely suspended in southern Philippines: official - A nickel mining hub in the southern Philippines, which produces mostly high-grade material, has suspended extraction operations indefinitely as the regional government conducts an industry audit, a top government official told Reuters on Monday. - more

• Nickel sector seeks better policies - While the Philippine mining industry welcomed Indonesia’s plan on nickel ore export ban as an opportunity to alleviate the impending supply shortfall, the Philippine Nickel Industry Association (PNIA) doubted the country’s capacity to do so, citing stringent and uncertain policies imposed by the national government. - more
  

      New Lithium Battery Design Eliminates Costly Cobalt and Nickel - A new cathode and electrolyte are the key to doing away with these increasingly scarce metals in lithium batteries. - more

  Morning Nickel Price Statistics & Figures

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

  Abbreviated Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed yesterday's trading session at $8.16/lb ($17,990/tonne). Indicators at 7:20 am CST today show nickel trading around $.15/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Thursday and started the day just under the 166,700 tonne level. The increase in stockpiles by well over 10,000 tonnes yesterday has sent a ripple thru the market, and nickel has finally broke free of the $18,000 tonne magnet. Whether it will make a permanent dent in the price is yet to be seen, but one day gains this large, on top of the gains we have seen since mid August, have some wondering what is going on. Nickel miners are obviously taking advantage of the higher price and shipping everything they can. The question is - are buyers holding off because of the higher price... or has demand fallen.  Still waiting on August electronic vehicle sales estimates to see if July's unexpected dip was a fluke, or trend. That's all we have for you this morning. Enjoy your weekend, and we invite you back next week as we follow the market.
  
• Average price of LME traded cash nickel so far this month - $8.16/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - 
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - markets closed today
  
• Reuters The Day Ahead - pdf here
• Geojit Evening Roundup - pdf here
• Kedia Daily Base Metal Report - pdf here
• Morgan Stanley On The Markets - pdf here
  

     Yesterday's market review - Copper rises to 6-week high as Trump delays tariffs - Copper jumped to its highest level in six weeks on Thursday after the United States said it would delay imposing a new round of tariffs on China, raising hopes of a thawing of tensions that could bode well for demand for the metal. - more

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Wednesday's trading session at $8.12/lb ($17,900/tonne). Indicators at 6:15 am CST today show nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell for the first time this month and started the day just over the 156,400 tonne level. The cancelled warrants number jumped though; over 50% now. Someone is either surrendering and making a large buy.... or more likely, a large trading house is trying to goose the market. The $18,000/tonne level continues to hold, offering resistance to the bulls and support for the bears. The Asia Nickel Conferences in Indonesia concluded today, and we are seeing no real reaction in the market. Sometimes, rumors get started at conferences that can adversely affect the market, but this market is apparently worn out and is taking time to recoup. News on Twitter we are reading this morning is not matching the numbers we are seeing, in either Shanghai or London.  We are seeing stories about how both markets were way up this morning, spiking, soaring again.... not happening folks. Shanghai ended a tad higher than where it started and nickel made it up to $18,300 earlier, before surrendering most of it in the last few hours. Are the bulls getting nervous?
  
• Average price of LME traded cash nickel so far this month - $8.15/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Copper jumps 1.3% on Trump's tariff delay; focus on ECB - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• China steel, refining capacity rises as supply-side reforms come under pressure - more
  
• U.S. Futures, Asia Stocks Gain on Trade Gestures: Markets Wrap - more

     Wednesday's market review - Copper falls as slumping China auto sales signal weak demand - Copper prices dipped on Wednesday after a sharp fall in Chinese auto sales underlined fears of weaker demand from the world's largest consumer of metals. - more

      Large mining enterprises happy to see Indonesian nickel mine export ban plans to expand smelting capacity - SMM: on Wednesday, the big miners welcomed the Indonesian government's recent decision to ban the export of nickel ore from next year as they plan to increase smelting capacity. - more

      Indonesian Stainless Steel Exports Likely to be Hit by Updated EU Safeguards – CRU - The European Commission implemented amendments to the EU’s safeguard measures starting from 1 October.  - more

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Tuesday's trading session at $8.19/lb ($18,045/tonne). Indicators at 6:15 am CST today show nickel trading around $.04/lb higher. Stockpilies of nickel stored in LME licensed warehouses rose on Tuesday and started today just under the 156,700 tonne level. The trading price of nickel did a whole lot of nothing yesterday and ended $5/tonne lower than Monday. That said, it did cloe above $18,000 tonne for a second day, so for the technical signal believers, you just got a positive one. Looks like two more nickel mines in the Philippines are getting their suspensions lifted, and their is an article below about the Australian mine, Black Swan, firing back up. With news last week that the closed Ravensthorpe will resume shipments next year, the new supply will help toward balancing supply and demand.
  
• Average price of LME traded cash nickel so far this month - $8.13/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - London copper sheds gains as China auto sales continue to dive - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• Mirae Asset Weekly Commodity Alert - pdf here
• U.S. Imports of Stainless Steel Mill Products - more
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Horizonte shares rise on Orion financing - more
  
• White House adviser plays down expectations for U.S.-China talks - more
  
• Stocks Climb With Oil Amid China-Trade Speculation: Markets Wrap - more

     Tuesday's market review - Copper prices subdued amid a string of weak China data - Copper was steady on Tuesday as downbeat factory data from China, the biggest producer of the metal, highlighted the impact of Beijing's trade conflict with the United States and reinforced concerns about demand for the metal. - more

      Indonesia's Antam to request extension of nickel ore export permit - Indonesian state miner Aneka Tambang (Antam) will propose to the government to extend until the end of the year its export permit for 1 million to 1.2 million tonnes of nickel ores that is due to expire in October, its commerce director said on Wednesday - more

     Ni SUS Scrap Price in Early September JPY120,000 to JPY125,000 = Increase in purchase price meant for export is followed by domestic maker = As of September 4, the stainless steel mills in the Kanto area purchase nickel-containing stainless steel scraps (SABOT) at JPY120,000 to JPY125,000 per ton (delivered at plant). (Hereinafter, the price is per ton) - more

      Nickel mine produced drastic change in lifestyle for many Inuit - The move to Rankin Inlet from Naujaat to work in the nickel mine was an historic change in life for the families involved in the mid-1950s – and Piita Irniq, originally from Naujaat, remembers it well. - more

      Two new lawsuits say PolyMet permits violate federal laws - Two new federal lawsuits say that permits issued for PolyMet Mining’s proposed $1 billion copper-nickel mine in Minnesota violate federal laws, including the Clean Water Act. - more

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Monday's trading session at $8.19/lb ($18,050/tonne). Indicators at 6:20 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose again o Monday and started today just over the 155,900 tonne level. Nickel made a bullish run late yesterday, breaking through the $18,000/tonne level, where it spent the evening until morning trading pulled it back south of that level. We would like to think the $18,000 tonne level is setting itself up as the line for traders to fight over, but the last two levels we thought would do that, did not last very long. Citi Bank published their new nickel price forecast for 2020 - around $8/lb, much lower than Goldman's new forecast of near $10/lb. Makes it pretty hard to make long term buying decisions when the guys and gals paid to know this stuff are that far apart on forecasts. It's not their fault, and remind your boss of that when they snarl at you because you bought when you thought the time was right, but turned out to be wrong. Little more news than yesterday, but nothing that we see really moving the market.
  
• Average price of LME traded cash nickel so far this month - $8.12/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Shanghai nickel jumps ahead of key Indonesia meeting - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• Raw Material Monthly Averages for August - here
• Desjardin's Commodity Trends - pdf here
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Reuters - "Our nickel bull case of an Indonesian ore export ban before 2020 has become our base," Citi said in a note, revising up its price forecast for next year to $17,500 a tonne from $14,000...."
  
• China Factory Deflation Deepens Signaling Worsening Economic Slowdown - more

     Monday's market review - Copper slides, demand doubts reinforced by China data - Copper prices slipped on Monday as expectations of weak demand in top consumer China were reinforced by data showing a surprise fall in its exports, but losses were limited by the likelihood of policy stimulus to shore up growth. - more

      Philippines H1 nickel ore output rises 3% despite mine shutdowns - Nickel ore output in the Philippines, one of the world’s top two producers of the material for stainless steel and batteries, rose 3% in the first half, government data showed. - more

      Glencore's focusing on on safer regions like Minnesota - Glencore Inc's penchant for risk has long been mining industry lore, but the company is quickly expanding into a part of the world that would have been improbable just a few years ago: Minnesota. - more

      Courtesy AISI - In the week ending on September 7, 2019, domestic raw steel production was 1,835,000 net tons while the capability utilization rate was 78.8 percent. Production was 1,866,000 net tons in the week ending September 7, 2018 while the capability utilization then was 79.6 percent. The current week production represents a 1.7 percent decrease from the same period in the previous year. Production for the week ending September 7, 2019 is down 0.8 percent from the previous week ending August 31, 2019 when production was 1,850,000 net tons and the rate of capability utilization was 79.5 percent. - source

      IAPMO The Swimming Pool, Spa and Hot Tub Technical Committee Report on Proposals for Public Review and Comment - pdf here

      In all the talk about exports from Indonesia, a tragedy in our industry got lost. On August 20th, the bulk carrier Nur Allya carrying nickel ore from Indonesia, sent a distress signal, and then was lost. A search since has located an empty life boat only. Twenty five souls have been apparently lost. They weren't members of the nickel or stainless steel industry, but without them, these industries would suffer greatly. And today, twenty five families are suffering. We do not know their names, or their faces. But today we remember them and pray their families and friends find peace. Ship info

  Morning Nickel Price Statistics & Figures

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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

• Nickel closed Friday's trading session at $8.02/lb ($17,685/tonne). Indicators at 6:15 am CST today show nickel trading around $.09/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and started the week just over the 155,300 tonne level. In the last 4 weeks of trading, nickel has not risen on only 4 occasions and levels are back to last seen on July 8th. Not a lot to talk about this Monday. Goldman Sachs now believes nickel will average $22,000/tonne over the next 12 months. That's an average of $10/lb. Chinese exports fell in August, so traders may be gambling on some Chinese stimulus helping boost base metals demand in the future. Quiet Monday, and unless you are a volatility junkie, we hope its a peaceful and successful week.
  
• Average price of LME traded cash nickel so far this month - $8.12/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Copper slides, demand doubts reinforced by China data - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• U.S. Stock Futures Advance Amid Bets on Stimulus: Markets Wrap - more
  

     Friday's market review - Copper falls despite China's move to boost lending - Copper failed to respond positively on Friday to China boosting bank lending because the trade dispute between the biggest metals consumer and the United States still weighed on the market. - more

      Goldman Sachs lifts nickel price forecast to US$22,000/t as supply woes continue - The ongoing US-China trade feud has managed to keep many commodities like copper down, but its vice-like grasp on nickel is loosening with the metal’s price rocketing almost 80% since the start of the year – driven by supply concerns out of Indonesia and diminishing stockpiles. - more

      Vietnam strongly rejects allegation of monopolizing domestic market of stainless steel - According to the statement by the Vietnam Ministry of Industry and Trade, it had strongly rejected the allegations of monopolizing the domestic market of stainless steel through the imposition of anti-dumping duties on stainless steel imports. - more

      Indonesia nickel-ore export U-turn throws up investor red flag: Analysts - Indonesia's surprise plan to roll out a nickel-ore export ban two years early could scare foreign investors away from Southeast Asia's biggest economy, analysts say, as it cements a reputation for policy flip-flops. - more

  Morning Nickel Price Statistics & Figures

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

• Nickel closed Thursday's trading session at $7.94/lb  ($17,500/tonne). Indicators at 7:25 am CST today show nickel trading around $.01/lb  lower. Stockpiles of nickel stored in LME licensed warehouses continue to grow and now total just under the 155,000 tonne level. Nickel dropped sharply yesterday morning, and has done little movement since. Poseidon announced it will restart its Black Swan nickel mine and First Quantum says Ravensthorpe will resume shipments in 2020. There was a time when Ravensthorpe was touted as a mega mine. Enjoy your weekend and we hope to see you next week.
  
• Average price of LME traded cash nickel so far this month - $8.16/lb ($18,000/tonne)
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Shanghai tin dips but posts record weekly gains on output cuts - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• U.S. License Imports of Stainless Steel Mill Products - more
• US Exports of Stainless Steel Mill Products - more
• Steel Industry Executive Summary - pdf here
  

     Thursday's market review - Copper rebounds on optimism over U.S.-China trade talks - Copper prices rose on Thursday to their highest since Aug. 19 after China and the United States agreed to hold high level trade talks, reviving hopes for an end to a dispute that has weakened global economic growth and consumption of metals. - more

      Ravensthorpe restart planned for 2020 - Canadian miner First Quantum Minerals is planning a restart of its Ravensthorpe nickel mine, in Western Australia, early in 2020. - more

• Poseidon to restart Black Swan - more
  

• Nickel closed Wednesday's trading session at $8.16/lb ($17,980/tonne). Indicators at 6:20 am CST today show nickel trading around $.21/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today's session just over the 153,800 tonne level. The predictions for nickel prices for the remainder for 2019 are all over the map, with Goldman Sachs forecasting the price of nickel could rise to $20,000 a tonne over the next three months. Others are not quite as pessimistic - or optimistic - depending on which hat you wear. Regardless, nickel is proving its history of 'unpredictability' is well established and is in a dive this morning. This could be a technical move, with nickel being unable to close above the $18,000 tonne level for two consecutive days. With cancelled warrants standing over 45%, it would be appear that a very few are controlling the market. After blocking exports of raw nickel ore as of December 31st this year, Indonesia is now reportedly threatening all mining companies who have committed to building plants and smelters with heavy fines if they change their plans. Mining in Indonesia appears to become less risk averse than it once pretended to be. Another politically vulnerable nickel mine is in Papau New Guinea, where the Chinese owned Ramu nickel mine is under fire after a tailings spill.  After the deadly tailings dam failure in Brazil in January, countries have become rightfully concerned when leaks are discovered. Not only is their environmental damage, but its hard to explain 248 people dieing solely because a mine can't figure out a safe way to store its waste. For the stainless steel users amongst our readership, trying to make long term plans based on stainless steel prices, we can only offer you our deepest sympathies. For those of you who guess correctly, there is money to be made down the road. For those who guess wrong, you are a member of a much larger group than the former. We have always said austenitic stainless has two Achilles heels - one is salt and the other is the traded price of nickel. The volatility of nickel trading can make for some serious headaches - or heavy drinking. We will post an abridged update tomorrow about an hour later than normal. Until then.
  
• Average price of LME traded cash nickel so far this month - $7.78/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Shanghai copper hits 1-mth high on U.S.-China trade talks - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Stocks Extend Gains as Trade Talks Set; Bonds Drop: Markets Wrap - more
  

     Wednesday's market review - Copper recovers from 2-year low but demand outlook still weak - Copper prices rose on Wednesday from a two-year low in the previous session, helped by a weaker dollar, rising global stock markets and arbitrage trading after London prices dropped below levels in China. - more

      Tesla: The Growing Nickel Problem - Electric vehicle maker Tesla (TSLA) continues to ramp up production of the Model 3 this year, not only expanding its presence in Fremont, California, but with the launch of a new Gigafactory in China very soon. - more

  Morning Nickel Price Statistics & Figures

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

• Nickel closed Tuesday's trading session at $8.16/lb  ($17,985/tonne). Indicators at 6:15 am CST today show nickel trading  unchanged. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today's session just over the 153,500 tonne level. Stockpiles have now grown 11,616 tonnes since bottoming out at 141,906 tonnes on August 6th. Nickel appears to be stuck just below the $18,000/tonne level again today, and while we expect to see the bulls make another charge past that level, it has yet to materialize today. With all the excitement being caused by the Indonesia decision, nickel is getting a lot of attention from those who are having difficulty making money with investments elsewhere. It will only be a matter of time before stainless steel producers start warning the nickel industry about the possibilities of nickel poor 200 series stainless steel. We are curious to see the EV numbers for August, as sales numbers for this year have been underwhelming in our opinion. Only June showed a healthy increase in sales .... so far. This could have an effect on future nickel demand as well. Australian media is announcing Ravensthorpe is hiring as that mine fires back up. We link to a lot of news for you today - and a rash of reports.    
• Average price of LME traded cash nickel so far this month - $8.29/lb
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - London copper rebounds from a two-year low - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• Commodity Price Monitor - pdf here
• Steel Imports Report: United States - pdf here
• Steel Exports Report: United States - pdf here
• Steel Exports Report: China - pdf here
• Material Matters: Nickel, Met Coal & Iron Ore - more
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Metal Ukraine - Stainless steel futures will begin trading on the Shanghai Futures Exchange on September 25, the China Securities Regulatory Commission said last week.
  
• Stocks Jump Globally With U.S. Futures; Bonds Drop: Markets Wrap - more
  

     Tuesday's market review - Nickel holds at five-year high on Indonesia ore ban - Nickel prices clung to five-year highs on Tuesday after Indonesia spurred fears of shortages by banning exports of ore from January. - more

• Indonesia sees surge in nickel-related exports after ore export ban - more
  

      EU's stainless steel alloy surcharges increase for Sep - The sharp increase of nickel price would be the main reason for the increasing price for the EU stainless steel alloy surcharges. - more

• Madang government seeks legal action over non-payment of royalties over 18 years - more
• Rai Coast MP queries Tuke on closure of mine - more
  

      Nickel likely to hit US$20,000 a tonne on Indonesia ban: Goldman Sachs - Goldman Sachs expects nickel prices to reach US$20,000 a tonne in three months, a level not seen since May 2014, after Indonesia said it would expedite a ban on nickel ore exports by two years to the end of 2019. - more

      Courtesy AISI - In the week ending on August 31, 2019, domestic raw steel production was 1,850,000 net tons while the capability utilization rate was 79.5 percent. Production was 1,861,000 net tons in the week ending August 31, 2018 while the capability utilization then was 79.4 percent. The current week production represents a 0.6 percent decrease from the same period in the previous year. Production for the week ending August 31, 2019 is down 1.4 percent from the previous week ending August 24, 2019 when production was 1,877,000 net tons and the rate of capability utilization was 80.6 percent. - more

  Morning Nickel Price Statistics & Figures

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

• Nickel closed Friday's trading session at $8.12/lb  ($17,900/tonne) and closed Monday's trading session at $8.19/lb ($18,060/tonne). Indicators at 6:20 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose yet again on Monday and started today just over the 153,000 tonne level. Cancelled warrants jumped to over 41% on Friday, with either someone taking advantage of the market fear as an investment or someone stocking up in case the markets fears are justified. If you left work last Thursday and started a four day weekend without your cell phone or access to the internet, then you are probably suffering from a little shock this morning. Prior to Friday we were talking about the market using the $16,000/tonne level as a guide. Today, it is trading around the $18,000/tonne level. SMM reported Friday that their source in Indonesia confirmed the government would move up the ore ban and the market reacted. On Monday, Indonesia confirmed the report, and the market reacted again, trading over $18,800 at one point yesterday.  So we start the final third of 2019 with nickel closing at $10,870/tonne on January 2, and $18,060/tonne yesterday. Nickel stockpiles stood at 206,400 tonnes back then, they were at 152,604 yesterday. Where will all stand in 4 months? Stay tuned. And have a great week!
  
• Average price of LME traded cash nickel so far this month - $7.11/lb (average for August)
  
• Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

• Reuters metals morning - Shanghai nickel hits record high on Indonesia ore export ban - more
  
• Reuters Daily Inside Metals - pdf here  
• SMM Evening Comments - more
• Reuters The Day Ahead - pdf here
• Scotiabank Commodity Price Index - pdf here
• PUC Monthly Report - pdf here
  
• The Commodities Feed: Nickel soars on Indonesia ore export ban - more
  

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Scotiabank Reports - more
• Baltic Dry Index - (chart)
• Stainless steel: The role of nickel - here
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Taiwan’s Fastener Export in H1 2019 Declines in Volume - more
• China’s Fastener Export Drops in H1 2019 - more
  
• Amazon’s Next-Day Delivery System Has Brought Chaos And Carnage To America’s Streets - more
  
• Trump made up phone call with China at G7 summit, White House aides admit - more
  
• Stocks Decline as Treasuries Advance; Pound Slides: Markets Wrap - more
• Positive Indian Ocean Dipole persists as ENSO remains neutral - more
  

     Monday's market review - Indonesian ore ban propels nickel prices to five-year peak - Nickel prices hit five-year highs on Monday due to worries about shortages as top producer Indonesia said it would stop ore exports from January 2020, two years earlier than initially flagged. - more

• Friday's market review - Indonesia ore ban spurs nickel to 5-year high - more
  

• Indonesia to ban nickel exports from January 2020 - more
  
• Short-term pain, long-term gain: Indonesia could plug nickel pig iron gap - more
• ESDM: Nickel export ban is done to support the development of electric cars - more
• Indonesia ban on nickel seen as resource nationalism - more
  

      African Rainbow Minerals to moth-ball loss-making Nkomati mine - South African diversified miner African Rainbow Minerals (ARM) said on Friday it would reduce production at its loss-making Nkomati mine in preparation for closure.  - more

• Oil spill and lifeboat from missing Indonesian bulker found - more
  

      Link Worth Saving

• Electralloy Raw Material Average Monthly Prices since 2006 - pdf here
  

  Morning Nickel Price Statistics & Figures

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