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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

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Thursday, May 25

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.13/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 383,800 tonne level. The week went somewhat quiet without the Lopez drama in the Philippines and Palmer drama in Australia carrying headlines. Someone in the Philippines figured that since Lopez was gone even if she had successfully brought the environment to the forefront of everyone's mind, that it was the perfect time to cut down 15,000 trees without a permit for a new nickel mine. Can you spell 'clueless'? Here is a quote from the article below about Duterte asking for help from Russia. Associate professor at the Higher School of Economics Dmitry Ofitserov-Belsky to Sputnik Radio - "“I think that Russia, for example, can help the Philippines in both developing and processing nickel ore on its own territory and that can stabilize prices for this resource in the international market,” Ofitserov-Belsky said." There was talk when Indonesia put a ban on exports of nickel ore, that Russia had a hand in that decision. Maybe just a story put out by those who see a conspiracy in the mirror each morning. This si our last update for the week. Monday is Memorial Day in the US, so our next update will be on Tuesday, May 30th. Wish each of you a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $4.17/lb
  • Average price of LME traded nickel in 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 steady, at risk from weaker China demand - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - 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
  • European Debt Crisis Live - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Steel vital to national security, industry pleads - more
  • Duterte Asks Putin for 'Help and Support in Fight Against Daesh' - more
  • All Eyes on Vienna as Oil Drops; Growth Hits Pound: Markets Wrap - more

     Nickel miner says unit unaffected by Mindanao martial law - Global Ferronickel Holdings Inc. (GFNI), the Philippines's second largest nickel miner, on Wednesday said its unit operating in Mindanao is unaffected by the declaration of martial law in the island. - more

     April 2017 crude steel production - World crude steel production for the 67 countries reporting to the World Steel Association (worldsteel) was 142.1 million tonnes (Mt) in April 2017, a 5.0% increase compared to April 2016. - more

     Policy upheavals buffet mining in Philippines, Indonesia - In the eyes of Diosdado Alota, chief of Guinabon village in the northwest Philippines, the mining industry is key to his community's health. - more

     Sacking of Philippines environmental secretary good for nickel - U.S. economic growth is likely to be subdued this year following the Federal Reserve's lifting of its policy rate in March, with inflation and forecast inflation on the downside in recent months. - more

     Glencore questioned over fatalities, unions and environment - Global commodities miner and marketer Glencore fielded a number of questions from shareholders, trade unionists and environmentalists at its AGM in Switzerland on Wednesday, including several about the 16 fatalities at its operations last year. - more

     Mining firm faces looming legal battle for cutting trees in Palawan - Environment chief Roy Cimatu assured President Rodrigo Duterte that Ipilan Nickel Corporation (INC) will face charges if investigation into its alleged illegal mining-related activities in Palawan province warrants so. - 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, May 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.24/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.09/lb lower. Stockpiles of nickel - well forget what we said yesterday about the month finally showing a negative growth on stockpiles, because it lasted only a few days. Yesterday they grew by 6,384 tonnes, and now sit just shy of the 384,800 tonne level, Still a few thousand tonnes shy of the 2017 high, but well over the level we saw the year, and month, start at. Moody's downgraded China's debt today, a first for this century, and commodity markets are taking note.   
  • Average price of cash nickel so far this month - $4.17/lb
  • Average price of LME traded nickel in 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 copper slips after Moody's downgrades China - more

  Reports

  • 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
  • European Debt Crisis Live - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Where & Why Nickel is Used - more
  • Moody's downgrades China's debt for first time in 26 years - more
  • Iron and Metals Slump as Moody's Puts China's Debt in Spotlight - more

     BHP hopes for more nickel mines in WA - Mining major BHP has confirmed that it is pursuing environmental approvals to develop two satellite pits to support production from its Mt Keith operation, in Western Australia. - more

     Ipilan Nickel Corp. asked to explain tree cutting spree - The Department of Environment and Natural Resources (DENR) has given Ipilan Nickel Corp. (INC) until Wednesday to explain why no criminal charges should be filed against the mining company over its massive indiscriminate tree cutting in the town of Brooke’s Point in Palawan province. - more

     Freight hikes 'may hinder' stainless scrap movements -  Asia: Production of stainless steel has been at elevated levels but, if the normal business cycle is to be followed, there will be a decline during the summer months. - more

     Japan's chrome-moly steel demand robust despite slow car output: sources - Demand for chrome-molybdenum alloy steel sheets, used for automotive components, has been robust in Japan despite major automakers cutting domestic production in the second quarter, market sources said Wednesday. - more

     Rodrigo Duterte puts Mindanao under martial law on militant clashes - Philippine president Rodrigo Duterte cuts short trip to Russia after declaring 60-day martial law in Mindanao island after clashes between government troops and ISIS - more

     Bidding for Botswana's BCL Group reopened after no offer from suitor - Bidding for BCL Group, which owns Botswana's largest copper and nickel mine, has been reopened to other investors after an exclusivity period granted to a suitor, Emirates Investment House (EIH) lapsed without an offer. - more

     Batteries improve air quality in underground mines - Next-generation nickel-based technologies and the potential they hold in underground mining - more

     Ex-wife claims $15 billion in world's biggest divorce settlement - A Russian woman has demanded half of her estranged ex-husband's $30 billion fortune in what could become the world's largest divorce settlement. - 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

May 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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ASTM F593C, F593D, F593G, F593H,
304 and 316 Stainless Steel Hex Bolts
and ASTM F594 Stainless Hex Nuts
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