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Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Nickel Prices and Stainless Steel Bolts

Stainless Steel News and Prices

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Wednesday, September 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $8.30/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.12/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME licensed warehouses rose to another all tie record high on Tuesday and now totals 337,992 tonnes. Nickel was in trouble yesterday, trading below major support, when news came that China's central bank had taken steps to stimulate that economy. As the world's largest consumer of nickel, this $81 billion Dollar injection was seen as positive, and with a lower US Dollar, nickel shot higher, with most of the gains coming in after market trading. Metals are back down today, as the after market gains were seen as overdrawn, in light of expected news today that the world's largest economy will step back further from their economic stimulus measures - ie, the US Fed. In our opinion, while traders are encouraged by the stimulus measures that China is taking , they are also discouraged by the fact China felt the need to take this measure.  There is still a lot of mystery surrounding what is actually going on in China and economic reports are met with suspicion in many cases. So the stimulus measures taken yesterday, along with a constantly growing inventory of nickel, are putting a heavy drag on nickel bulls. So far this morning, nickel is back to trading below the July-August trading range, and below major support. Technical signals are mixed, with RSI and Stochastic showing the market is oversold, but momentum and other signals sending negative signals. The next few days could be interesting, as shorts try to take advantage of a move by the bulls, that evaporated as quickly as it started. Stay tuned.
  • Average price of cash nickel so far this month - $8.52/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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)
  • Bloomberg metals morning - Copper Advances as Top Consumer China Boosts Stimulus - more
  • Reuters metals morning - Copper up on China stimulus reports, markets await Fed - more

  Reports

  • Great American Group Metals Monitor - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 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
  • 100 Years of Stainless Steel - more
  • (MP) China ferro-nickel imports up 64.86% in July 2014
  • (SO) CISA mills' average daily crude steel output up sharply in early Sept

    U.S. Export of Nickel Scrap in July 2014 = Slightly up from prior month, and increased export to UK is balanced out by decreased exports to others = According to the statistics released by the U. S. Department of Commerce, the export result of nickel scrap in July 2014 was 2,335 tons, slightly up by 0.5 tons from 2,334 tons of the prior month. - more

    Here's What We Know About The Speculation Glencore Is Eyeing Off A Rio Tinto Takeover - There’s talk about Rio Tinto being a takeover target for Glencore. Here’s what we know. - more

    Iron Ore Seen Stabilizing by Top Shipper as Mines Close Down - Iron ore mine closures around the world spurred by prices at a five-year low will help the raw material to level out even as Australia’s suppliers increase capacity further, the government forecaster in the largest exporter said one week before updating its global forecasts. - 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 daily before 8 am CST weekdays - 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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