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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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Friday, April 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $8.11/lb  . The London Metal Exchange is closed today for Good Friday and will be closed Monday for Easter. Our next update will be on Tuesday, April 22nd. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $7.65/lb

Thursday, April 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $8.11/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb higher, with other London traded base metals trading quietly and mixed. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Wednesday and now total just over 277,400 tonnes. Stochastic and RSI numbers have come off this weeks high readings, but remain well into overbought territory. Russia is meeting with the US and Ukraine today, and while we are skeptical of any impact a possible ban on importing Russia nickel would actually have, the market is deeply concerned as Norilsk is named as a possible target of further sanctions. LME stockpiles remain incredibly high, and while they are down for the month, they remain higher than they were four weeks ago. Cash nickel prices had risen 26% since the end of January by Tuesday of this week and the trend remains bullish, and overdue for a serious price correction. The prior three days trading has been very volatile as the bulls and bears struggle for control of the market, with the bulls wining two of the three and retaining control of momentum.  
  • Average price of cash nickel so far this month - $7.61/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 - Nickel Reaches 14-Month High on Indonesia, Russia Supply Concern - more
  • Reuters metals morning - Nickel ploughs higher, may be vulnerable to correction - more

  Reports

  • 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 - 81.93
  • 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
  • (Triland Metals 4/15/14) It is not a coincidence that nickel option volatilities also reached levels not seen for many years. For example, dec14 volatility reached 29.50% (up from 25% only a few weeks ago) and demand was reported for $20,000 and $20,400 December call options. Clearly the nickel market is entering a new phase after several years of calm conditions in a low volatility environment.
  • (SSY) According to the latest World Steel Dynamics SteelBenchmarker, the world export price for hot rolled band edged up $1/t at the start of April, to $551/t. Over the same period US HRB prices surged by $37/t, to 749/t, the highest price since the end of April 2012.
  • (SMM) Prices for high-grade nickel pig iron (NPI) are bound to exceed 1,100 yuan ($178) this month on higher prices of nickel ores and the refined metal, Shanghai Metals Market foresees.
  • Taiwan Fastener Review for 2013 - more
  • 16.1 percent of Chinese soil is polluted - more

    350 Santa Rita workers on forced leave – Mirabela - Embattled nickel miner Mirabela Nickel has warned that it would impose forced leave on around 350 staff at its Santa Rita mine, in Brazil, as it looked for funding to support ongoing operations at the mine. - more

    ICRA Indonesia: Analysis of Economic Impact of Raw Minerals Export Ban - ICRA Indonesia released an analysis of the economic impact of the ban on export of raw minerals. - more

    BHP Needs Rebound Not Spinoffs Amid Metal Slump: Real M&A - BHP, which is wringing out costs after a decade-long mining boom ended, said this month it’s studying “structural options” to help narrow its focus to four commodities including iron ore. - more

    China releases first monthly nonferrous metals index - China released its first monthly nonferrous metals climate index on Wednesday against a background of weak demand, falling prices and industrial losses, in an attempt to have a bigger say on commodity prices in the international market. - 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 reports and information free of charge. Contact us

 April 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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