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Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Nickel Prices and Stainless Steel Bolts

Stainless Steel News and Prices

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Friday, August 29

    US markets are closed on Monday for the Labor Day holiday. Our next update will be on Tuesday. Have a safe and relaxing weekend.

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones is reporting three month nickel closed Thursday's trading session at $8.48/lb  . Indicators at 6:40 am CST today show 3 month nickel trading around $.05/lb lower but recovering at the moment, with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME approved warehouses rose yet again on Thursday and warehouses reported 329,136 tonnes to end the month. That's again of 13,338 tonnes for August 2014. That compares to a gain of 9,042 tonnes in August 2013, and a monthly gain of 3,996 tonnes in August 2012. Technically, the trend over the last three days of trading has been weak, but over the last 24 hours of trading, we have seen a triple bottom, which nickel is now bouncing off of. We put strong support at $7.84/lb and resistance at $8.55/lb. Geopolitical tensions are back in the headlines, with a new Russian incursion into Ukraine. In the short term, the reaction on metals has been limited. In the long term, this could offer further support to nickel, since many fear that new sanctions against Russia could include nickel imports from Russia, or Putin could limit exports of nickel  from his country in a counter reaction to new sanctions. You had no idea that stainless steel could be so complicated, did you? Have we mentioned how electricity shortages in South Africa affect ferrochrome, and eventually, your stainless? That's more of a summer problem for them, and its winter there, so we will save that for a later date. Enjoy your weekend. Monday starts a new week and a new month.  
  • Average price of cash nickel so far this month - $8.43/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Aluminum Set for Record Run of Monthly Gains as Supplies Shrink - more
  • Reuters metals morning - LME copper steadies; eyes biggest monthly drop since March on Ukraine - more

  Reports

  • Scotiabank Commodity Price Index - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • China may lose position as copper price driver - more
  • Commodities trading the latest move by Shanghai to talk up free trade zone - more
  • Hudson Bay trip a highlight of latest Ice Road Truckers season - more

    Goldman Sachs sees nickel price rally continuing into 2015 - US investment bank Goldman Sachs said the refined nickel market has shifted from a major surplus in 2013 to a much smaller surplus in 2014, according to a research note Thursday, adding that prices are likely to continue to rally into 2015. - more

    Base metals roundup: Zinc and nickel poised to move dramatically higher in 2015 - Scotiabank commodities specialist Patricia Mohr says a cyclical recovery in zinc and nickel is underway, leading to dramatically higher prices in 2015. (See below for information about specific zinc and nickel stocks). - more

    BIR Stainless Steel World Mirror August 2014 - Global: The following article is based on the latest Stainless Steel & Special Alloys World Mirror produced by the BIR world recycling organisation for the benefit of its members. - more

    Nickel gains mass production - One third of global, produce of Nickel disappeared in just a few days. Nickel prices rose so suddenly, when the investor’s hoped a sudden decline. Even so, Chinese Nickel Pig Iron (NPI) has been stocking the metal.- more

    Zimbabwe: BNC Seeks National Project Status Nod - Bindura Nickel Corporation has approached Government with a request for its smelter restart project to be granted national project status. - more

  • Bindura Nickel to restart smelter, refinery - Bindura Nickel Corporation (BNC) says the setting-up of a smelter is imminent as the mining firm is now in advanced talks with government to attain permission for the restart of the plant. - 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

 August Archives


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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays - 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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ASTM F593C, F593D, F593G, F593H,
304 and 316 Stainless Steel Hex Bolts
and ASTM F594 Stainless Hex Nuts
In stock - contact the author for current pricing and availability

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