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Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

Tuesday, January 16

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.83/lb  . Indicators at 6:30 am CST today show 3 month nickel trading around $.24/lb lower. Stockpiles of nickel stored in LME approved warehouses slipped slightly on Monday and remain just over the364,200 tonne level. After failing to close above resistance on two occasions over the past week, nickel was in a free fall this morning. It has quieted a little recently, getting some support as the slide in the Euro ends and turns around. If it turns into a rout, look for support at $5.37/lb. Not finding any reason for the drop except the technical failure to punch thru resistance with any consistency. Traders appear to be pocketing some profits before the market takes them away.
  • Average price of cash nickel so far this month - $5.74/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper hits 3-1/2-week low, nickel slides more than 5 pct - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Why cobalt will struggle to free itself from the DRC - Andy Home - more
  • Dollar Rises as Euro, Yen Slip; Europe Stocks Jump: Markets Wrap - more
  • Weak La Niña continues over the Pacific - more

     Monday's market review - Zinc scales 10-year peak as base metals rally - Zinc hit another 10-year high on Monday as base metals rallied across the board on the back of a faltering dollar, with expectations that the European Central Bank may start trimming its stimulus programme lifting the euro to a three-year peak. - more

     Asian Market of CR Austenitic Stainless Sheets Starts Calmly - The market of cold-rolled (CR) austenitic stainless steel sheets in the Asian region has calmly started. At the end of last year when prices of CR austenitic stainless sheets were likely to fall, such prices recovered due to a rise in prices of the LME nickel, and as it is, the market has started after the New Year holiday. - more

     Import Volume of SUS Products in November 2017 Is 21,745 Tons = Up by 10% from prior month because of increased import from all main countries = The import volume of stainless steel products in November 2017 which was compiled by the Japan Iron and Steel Federation based on the foreign trade statistics prepared by the Ministry of Finance was 21,745 tons, up by 10.5% from 19,683 tons in the prior month. - more

     Remove import duty on raw materials: Stainless steel industry - Ahead of the budget, the stainless steel industry has asked the government to remove import duty on ferro-nickel and stainless steel scrap. - more

     Vale’s Coleman mine remains closed till mid-February - The Coleman nickel-copper mine near Sudbury, owned by Vale Canada, will remain closed until the middle of next month. The owner suspended operations on Nov. 13, 2017, due to safety concerns. - more

     RNC moves toward production decision for Dumont project - RNC Minerals of Toronto is undertaking work this year so that it can make a production decision on its Dumont nickel-cobalt project near Amos in 2019. - more

     After a forgetful 2015, 2016, stars align for nickel - Nickel, widely used for production of stainless steel, took on more heft in 2017 after a sluggish run in 2015 and 2016. - more

     RBI releases draft on hedging of commodity price risk in overseas markets - The Reserve Bank of India (RBI) Friday released draft norms for Indian companies to hedge their commodities exposure from fluctuating prices in overseas markets. - more

     Verdict expected this week in First Nickel and Taurus Drilling case - A judge is expected to deliver a verdict this week in the trial against First Nickel and Taurus Drilling. - more

     Scientists found excitons in nickel oxide for the first time - Russian scientists from Ural Federal University, together with their colleagues from Institute of Metal Physics of the Ural Department of Russian Academy of Sciences, have studied fundamental characteristics of nickel oxide nanocrystals and found excitons on the light absorption edge for the first time.  - more

  Morning Nickel Price Statistics & Figures

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

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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.

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