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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 Market

Thursday, September 20

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.67/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose for a second time this month on Wednesday, but for a third consecutive day, remain just under the 232,100 tonne level. The Euro is trading a little higher this morning, which may explain nickel's slight increase on the LME trading board. No real market news out there today. The rate of stockpile withdrawals has slowed significantly this month. Nickel stockpiles peaked out last August 31st at 389,154 tonnes, so the rate of decrease over the past 12-1/2 months has been pretty dramatic. If supply is catching up with demand, this is good for the industry. If these are the early clues of a slowing demand, then we need to be concerned. Cancelled warrants dropped below 23% on the 7th, and have averaged below there since. Last September, cancelled warrants were measuring in the 34-37% range. And cash nickel was trading in the $5.10/lb range back then. Thanks to a growing EV market, the future for nickel remains 'bright'. In the short term, the trade war concerns seem to be hog tieing the market. This is our last update for the week, so we wish each of you a safe and enjoyable weekend and hope to see you again on Monday.
  • Average price of cash nickel so far this month - $5.63/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 - London copper prices hover near 3-wk high as trade war fears ease - 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
  • Stocks Advance as Treasuries Steady; Dollar Slips: Markets Wrap - more

     Wednesday's market review - Copper and zinc jump as U.S.-China trade tariffs undershoot expectations - Copper jumped to its highest in three weeks on Wednesday, boosted by a weaker dollar after a new round of U.S.-China trade tariffs proved not as costly as expected. - more

      Metals hit hard by trade disputes - Despite projections of a strong year for metals across the board, which were expected to be buoyed by global growth, multiple commodities have been hit by depressed prices this year as ongoing trade disputes soured market sentiment. - more

      Axiom wins mining permit for Solomon Islands nickel project; shares rocket 55pc - Junior explorer Axiom Mining has been granted a mining lease for its Isabel nickel project – news that sent shares up as much as 55 per cent this morning. - more

      Cobalt 27: Don't Forget The Nickel Exposure - Until now, all the focus for Cobalt 27 has naturally been on their rapidly expanding portfolio of cobalt metal and cobalt royalties, streams and interests. - 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

Wednesday, September 19

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.62/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses were unchanged on Tuesday and remain just below the 232,100 tonne level. Nickel ended higher yesterday, and is trading higher again this morning. Currently the market has recovered from Monday's losses and we are back to trading in last Friday's range. US equity futures are drifting this morning, after yesterday's bounce on news that the new tariff;s would only be 10% until the end of the year, when they jump to 25%. This gives the US and China to negotiate some kind of truce - maybe.
  • Average price of cash nickel so far this month - $5.62/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 - Shanghai copper hits 1-month high; zinc surges - 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
  • Top Nickel Miners 2017 - image here
  • U.S. Futures Drift With Europe Stocks; Dollar Dips: Markets Wrap - more

     Tuesday's market review - Copper rebounds, shrugs off deepening U.S.-China trade row - Copper prices rallied on Tuesday as investors shrugged off new tit-for-tat tariffs by China and the United States to send stock markets higher and the dollar lower. - more

      Nickel's "electric premium" crushed by trade tensions: Andy Home - Nickel has finally succumbed to the base metals price rout.  It is still the best year-to-date performer among the core six metals traded on the London Metal Exchange - more

      BHP eyes first nickel sulphate by mid-2019 - UK-Australian resources group BHP expects the first output from its nickel sulphate plant in Western Australia by the end of June next year. - more

      De Lima slams nickel mining project in Zambales: Pati ba naman lupa sa China na rin? - Detained Senator Leila de Lima on Tuesday slammed the reported “suspicious construction” of a P200-million mining project in Candelaria, Zambales which is heavily-funded by Chinese investors. - more

      The Nickel market was in deficit during January to July 2018 with apparent demand exceeding production by 43.3 kt. In the whole of 2017 the calculated deficit was 76.3 kt. Reported stocks held in the LME at the end of July 2018 were 112 kt lower than at the end of the previous year. Refined production in January to July 2018 totalled 1087.8 kt and demand was 1131.1 kt. - more

      Global steel production, consumption growth to slow – Fitch - Growth in global production and consumption of steel is expected to slow over 2018/19, following a significant rebound since early 2016, Fitch Solutions Macro Research’s recently published ‘Global Steel Outlook’ report states. - more

      Nickel defined Port history for a century - In the dog days of summer back in 1916 the directors of the International Nickel Company, or Inco, met to discuss the acquisition of land in Port Colborne, with its abundance of access to hydro-electricity and transportation, as the site for the company’s first Canadian nickel refinery. - more

     Metminco signs term sheet to acquire DSO nickel-bauxite play - Metminco Limited has announced it has entered into a binding term sheet to acquire 100% of the issued capital of Sunshine Metals Ltd which holds 80% of the Jejevo Nickel Project on Santa Isabel Island in the Solomon Islands, as well as an 80% interest in an early stage bauxite prospect - the Tausere Project - located on the southern coastline of Choiseul Island, situated at the northwest extent of the Solomon Islands. - more

      Courtesy AISI - In the week ending on September 15, 2018, domestic raw steel production was 1,862,000 net tons while the capability utilization rate was 79.4 percent. Production was 1,711,000 net tons in the week ending September 15, 2017 while the capability utilization then was 73.4 percent. The current week production represents a 8.8 percent increase from the same period in the previous year. Production for the week ending September 15, 2018 is down 0.9 percent from the previous week ending September 8, 2018 when production was 1,879,000 net tons and the rate of capability utilization was 80.2 percent. - more

      Copper-nickel? The data say it’s bad economics - The ongoing debate about the pros and cons of copper-nickel mining near Ely has been cast by many as the stereotypical clash between jobs and the environment. - 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

September 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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