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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

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Monday, February 27

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $4.93/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and now total just over the 378,600 tonne level. Unless LME warehouses receive some huge shipments of nickel into their warehouses, we will see the first monthly drop in stockpiles since last September. Nickel fell hard until mid day Friday, when it started to recover. It's up again today and we put resistance around $5/lb, where it had a problem at last week. Technical indicators are positive and traders are responding. Some of last weeks drop can be blamed on the US Dollar strengthening, some was due to the market momentum feeding on itself and profit taking.
  • Average price of cash nickel so far this month - $4.80/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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)
  • Reuters metals morning - Copper steadies ahead of Trump speech - more

  Reports

  • U.S. Imports by HTS - more ) (all steel products - more)
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • EU expands North Korea sanctions - more
  • Politics Reigns as French Bonds Gain, Pound Slips: Markets Wrap - more

     China's nickel imports mirror shifts in supply chain: Andy Home - Is the Philippines' draconian mining clampdown already affecting the flow of nickel ore to China's nickel pig iron (NPI) producers? - more

     Eramet revives Indonesia nickel project with Tsingshan partnership - France's Eramet announced a preliminary agreement with Chinese steelmaker Tsingshan Group to revive a nickel mining project in Indonesia that Eramet had frozen during a downturn in nickel markets. - more

     Vale’s profits plunge amid low nickel price - Publicly listed nickel mine operator PT Vale Indonesia (INCO) saw its profits plunge 96.2 percent year-on-year to only US$1.9 million in 2016, due to a 22 percent drop in the global nickel price throughout the year. - more

  • Vale CEO Ferreira to step down after term expires in May - more

     Nickel Ore – Philippines tightens supply / Indonesia relaxes ban - The club understands that in a bid to clamp down on environmental degradation, the Philippines Department of Environment and Natural Resources (DENR) has ordered to close 23 of the country’s 41 nickel ore mines, amounting to almost 50% of the Philippines’ nickel ore production (10% of global supply). - more

  • Philippines Plans To Shut 23 Mines Because Of Environmental Concerns - audio here

     ROSS NORMAN - A Response to The LME Issue - Visualize the scene - a man in the open seas and struggling. His fate is inevitable and the only uncertainty is whether he dies by drowning or is taken out by the increasing number of sharks that are circling. - more

     Congress is shrinking, it isn’t in national interest, says Steel minister Chaudhary Birender Singh - ‘National parties must be visible prominently. Cong is shrinking, it isn’t in national interest’ - more

     Mining minister seen as hindrance to Solomons exploration - A Solomon Islands mining professional says more government support is needed to unlock the country's significant mining potential. - more

     Nice chart showing UAE stainless steel prices since 2003 - uncheck "reinforcing Bars" and check "Stainless HR Coils" - more

     Meet Evgenia Bednova, the woman paid $1 million by Clive Palmer’s Queensland Nickel - The first most Australians would have heard of Evgenia Bednova was when her name was mentioned in the Federal Court as someone who was paid a staggering $1 million by Queensland Nickel. - 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

February Archives


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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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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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