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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, July 24

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.32/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on both Thursday and Friday and start the week just over the 375,200 tonne level. Nickel fell sharply on Thursday, but held on for s slight gain on Friday and so far today, we are seeing further recovery. The Euro is stronger again, which is assisting, with all London traded base metals in the green at the moment. Technical indicators are still mostly positive, with some warning of overbought conditions. Nickel closed below its 100 day MVA on Thursday, but has since traded above that level. We still have resistance at $4.36/lb, with an earlier push thru this level unsuccessful. Lot of news linked below, and amongst the rest, Australian Clive Palmer returned from a summer cruise vacation last week, only to find himself right back in Australian headlines.  
  • Average price of cash nickel so far this month - $4.21/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 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)
  • Reuters metals morning - Copper hovers near $6,000 level - more

  Reports

  • June 2017 crude steel production - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Future of mining ‘looks rocky with $16bn climate risk’ - more
  • Reuters - Metalloinvest Cyprus ... will sell its entire 1.79 percent stake in miner Norilsk Nickel through an accelerated bookbuild, the bookrunner said on Thursday.
  • China steel falls for second day on mounting concerns of supply glut - more
  • Euro Halts Advance as Carmakers Weigh on Stocks: Markets Wrap - more

     Market Prices of Austenitic Stainless Sheets Rise As Much As $240 in China - In the Chinese market, prices of austenitic stainless steel sheets rapidly rose in the past 2 to 3 weeks. In dollar equivalent, those prices are said to have risen by $240 per ton. It is reported that with a rise in prices of austenitic stainless sheets, prices of ferritic stainless steel sheets also rode by $140 or so. - more

     Indonesia says Jan-June nickel ore export 403,201 tonnes - Indonesia exported 403,201 tonnes of nickel ore in the first six months of 2017, when a complete ban on exports was lifted, a mining ministry spokesman said on Friday. - more

     Nickel's jitters worries New Caledonia's mining union - New Caledonia's main union in the mining sector is alarmed at the low price of nickel, fearing it could lead to the closure of a nickel plant with ensuing job losses. - more

    Cuba seeks to revive mining sector - A new lead and zinc mine in northwestern Cuba is on track to start production in October as part of the Caribbean island’s attempt to breathe fresh life into its mining sector, the joint venture Emincar overseeing the project said this week. - more

     Condition of Sudbury mine concerned driller - When "greenhorn" long-hole driller Justin Bisaillon started working for Taurus Drilling Services at First Nickel Inc's Lockerby Mine, he was matched up with many experienced drillers, including his father Norm. - more

  • Sudbury mine needed culture change: supervisor - more

     ZimAlloys to pay creditors 70pc upwards on debt owed - Gweru-based ferrochrome producer Zimbabwe Alloys says it is working on an arrangement which will see creditors being paid upwards of 70 percent on debt owed to them before the company was placed under judicial management. - more

     This week in history: Mill to treat molybdenum - From all reports, a large concentrating mill will soon be erected at Climax, on the C. & S. For several years much has been heard of the molybdenum deposits at Climax, and several companies have worked at different times. - more

     Thunder Bay, Fort William First Nation make the case for Ring of Fire smelter - Thunder Bay and Fort William First Nation made a joint push this week to be the host site for a ferrochrome smelter serving the Ring of Fire. - more

     Reader's view: Prove it's safe before mining metals - There is only one fatal flaw (well, maybe there are several) in all the arguments for the introduction of copper-nickel mining to the state of Minnesota: This kind of mining has never been done in Minnesota. - more

     Clive Palmer 'arrogant and bloody-minded' for offering workers advice, Townsville Mayor says - Clive Palmer's advice to former Queensland Nickel workers to "move location or go somewhere", smacks of arrogance the Mayor of Townsville Jenny Hill says. - more

  • Clive Palmer denies responsibility for unemployed Queensland Nickel workers - more
  • Clive Palmer back from 'romantic' cruise - and straight to court - more
  • Palmer served with legal papers by Queensland Nickel liquidators - 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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ASTM F593C, F593D, F593G, F593H,
304 and 316 Stainless Steel Hex Bolts
and ASTM F594 Stainless Hex Nuts
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