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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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Thursday, August 17

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.88/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel held in LME licensed warehouses fell slightly on Wednesday and now total just under the 385,200 tonne mark. Will LME copper trading at its highest since Nov 2014, aluminum at its highest since September 2014, and zinc trading at its highest since 2007, nickel's bull run, while impressive, is not setting records at the pace of the the rest of the London base metal complex. Al of these metals are taking a rest today, with metals trading quietly as the US Dollar gains strength against the Euro today. Chart here We show nickel bumping against resistance at $4.89/lb today. industry news is on the light side again, which is typical for August. Stainless steel surcharges for September should be announced late next week or early the week after, but you can just about bet on an increase, based on the trading price of nickel alone. Cash nickel has averaged $4.73/lb so far this month, and we estimate that will move higher in the days coming. If you go back to February of this year, nickel averaged $4.81/lb for the month, and while ferrochrome was selling for a higher price back then, if you need an early estimate, that would be where we recommend you look for a close comparable estimate. This is our final update for the week, so we wish each of you a safe and enjoyable weekend, and invite you back next week for daily morning updates.
  • Average price of cash nickel so far this month - $4.73/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, aluminium, zinc rise to multi-year highs as China reforms curb supply - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity 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
  • Is this the Start of a Hot New Metals Bull Market? - more
  • Euro, Stocks Drop Before ECB Minutes; Bonds Gain: Markets Wrap - more

     Ravensthorpe’s silver lining - Businesses in the Shire of Ravensthorpe remain optimistic as the local economy braces for the impact of the mothballing of First Quantum Minerals’ nickel mine, saying it will not be as catastrophic as the 2008 closure, when former owner BHP closed the mine and sacked 1800 workers. - more

     40% Of The World’s Largest Mining Companies Are Now In Emerging Markets - The mid-2014 commodity price crash spelled bad news for most commodity miners. Over time, however, the markets have seen a recovery in most metals. - more

     Why Clive Palmer's assets have been dragged into the Queensland Nickel fight - Clive Palmer, who could be forced to hand back almost $250m from his fallen nickel business, has cashed out of the prime real estate that was the visible tip of a fortune once put at $6.5bn. - more

  • Palmer, liquidators settle plane case - 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, August 16

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.69/lb . Indicators at 6:30 am CST today show 3 month nickel trading around  $.11/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose for a second straight day on Tuesday and now total just under the 385,600 tonne level. After three days of declines, nickel appears to have decided it has retracted enough and has resumed its bullish run. We are hesitant to post a resistance or support since nickel seems to break thru resistance before we can publish them but we will take a shot today. Put initial resistance at $4.89/lb and if today's rally sticks, we put last night's $4.69/lb as support. Nearly all the technical signals have returned to positive and on this rally, are starting to prove themselves worthless to longer term traders. Instead of being signals, they appear to be more a reflection of the days trend. Euro is fairly stabile against the US Dollar. And the Baltic Dry Index is back on the rise, for the believers. The nuclear rhetoric has died down, and markets appear to be reacting positively.
  • Average price of cash nickel so far this month - $4.72/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 - London zinc hits highest in a decade on China construction spend - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity 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
  • Growth Outlook Boosts Europe Stocks; Dollar Steady: Markets Wrap - more

     Global nickel deficit narrows to 2,200 T in May – INSG - A global deficit of refined nickel narrowed in May to 2,200 tonnes from a revised deficit of 5,200 tonnes the month before, data from the International Nickel Study Group showed on Tuesday. - more

     Philippines H1 Nickel Ore Output Falls 24 Pct on Suspensions, Weather - Nickel ore output in the Philippines, the world's top supplier, fell 24 percent in the first half of the year as several mines stopped operations due to government sanctions and bad weather, the mining industry regulator said on Tuesday (15/08). - more

     Strong rouble, one-off expenses hit Russia's Nornickel's H1 earnings - Russia's Norilsk Nickel reported a 3 percent fall in first-half core earnings on Tuesday, missing analysts' forecasts, due to a stronger rouble and a jump in social expenses. - more

     Miner's withdrawal from Solomons prompts call for better regulation - The chair of Solomon Islands' Chamber of Commerce has expressed regret over the withdrawal of Japanese mining giant Sumitomo. - more

     Court to decide on international arrest warrant for SA businessman - South African business tycoon Zunaid Moti‚ in a high court application‚ has called on President Jacob Zuma and his government to help him hold off an international arrest warrant for him - more

     Mystery Kyrgyzstani woman’s Clive Palmer payday - Clive Palmer “personally ­requested” Queensland Nickel’s chief financial officer to urgently funnel $1 million to mysterious Kyrgyzstani woman Evgenia Bednova for the alleged purpose of “representation fees” in ­November 2012, a court has heard. - more

  • Clive Palmer accused of being 'less than frank' as liquidators seek to freeze his assets - 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 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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