Stainless Steel News and Nickel Prices



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stainless steel daily news
Wednesday, October 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.03/lb ($17,700/tonne). Indicators at 5:45 am CST today show nickel trading around $.01/lb  lower. Stockpiles of nickel stored in LME licensed warehouses jumped on Tuesday and started todays session reading just under the 132,400 tonne level. Shanghai nickel rose to 135,080 overnight. After a nearly $400/tonne drop within a few minutes yesterday, nickel bulls crawled back the price $200/tonne to lessen the overall daily loss. This morning, while slightly lower, nickel is hanging on too most of those late day gains, and so far, escaping a rout. Milton is due into Florida this evening, while much of the Southeast is still trying to recover from Helene. Stay safe out there and have a great hump day! 
  • Average price of LME traded cash nickel so far this month - $8.00/lb

  Reports

  • Reuters metals morning - Copper hits two-week low - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • AMT LME COTR Analysis 08.10.24 - more
  • NAB Commentary: China Economic Update - pdf here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper hits two-week low as Chinese stimulus disappoints - Copper prices fell on Tuesday to their lowest in two weeks, after top metal consumer China failed to convince investors ... - more

    Global molybdenum production rises while use falls in Q2 2024 - Figures released today by the International Molybdenum Association (IMOA) show that global production of molybdenum rose by 1% to 159.2 .... - more

    Thailand launches AD investigation on Vietnam’s cold-rolled stainless steel products - On October 3, 2024, the Department of Foreign Trade (DFT) of Thailand announced the launch of an anti-dumping ... - more

    Cleveland-Cliffs Clears U.S. Department of Justice Antitrust Review for the Acquisition of Stelco - Cleveland-Cliffs Inc. today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust ... - more

    Back-to-Back Hurricanes Wreak Havoc on Supply Chains - Two weeks after Hurricane Helene slammed the East Coast, resulting in at least 230 deaths, Hurricane Milton is expected to reach landfall Wednesday ... - more

    Ratan Jindal: Stainless Steel Executive of the Year - Steel and Metals Market Research (SMR) GmbH, an international independent market research organisation, recently conferred the Stainless-Steel Executive ... - more

    Moment of Science: Stainless Steel - It’s a shining example of science in action, even if it doesn’t look all that active. This week, we’re finding out how stainless steel came to be. - more

   Other News

  • Steelmakers eager to ‘maximise sales’ at fastener fair - more
  • Flawed parts made for Boeing threatened plane safety, Italian prosecutors find - more
  • Rising unemployment does not mean recession is inevitable - more
  • Thousands flee Hurricane Milton, causing traffic jams and fuel shortages - more
  • Florida gas stations run empty amid panic ahead of Hurricane Milton - more

  Economic Stats and Prices (posted in Friday edition)

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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more

October Archives


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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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