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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, June 22

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.08/lb . Indicators at 6:20 am CST today show 3 month nickel trading flat and just a few dollars a ton higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started the day just over the 376,600 tonne level. It is obvious that traders or their computers did not want to see nickel closing for two consecutive days below $9000 per tonne, so it closed yesterday $5/ton above that level. It was a yo-up day, with nickel closing where it had on Monday, and recovering from the $185/tonne drop we witnessed on Tuesday. Nickel is now trading between its 10 day and 30 day moving average. It traders can concentrate on the $9000/per tonne level, they know the psychologically important $4/lb will stay in the rear view mirror. Entering the slow summer months, we will see how successful they are. This is our last weekly update so we invite you back next week and hope each of you has a a restful, safe and enjoyable weekend.
  • Average price of cash nickel so far this month - $4.01/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 - Aluminium hovers near 6-week low, at risk from oversupply - 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
  • Iron ore reverts to supply-driven market after 2016 aberration: Russell - more
  • China Bad Debt Prices Up 30% as New Gold Rush Gets Under Way - more

     Global nickel deficit narrows in April - INSG - A global deficit of refined nickel narrowed in April after a jump in refined metal output from Indonesia and China, data from the International Nickel Study Group showed on Thursday. - more

     Nickel smelters suffer with production boom - The effects of a government regulation permitting the extension of mineral concentrate exports continue to hit the nickel industry hard, with more than a dozen nickel pig iron smelters halting operations due to low global prices. - more

     BCL creditors may lose out - The company allegedly owes about P1 billion to its close to 700 creditors. Provisional liquidator, Nijel Dixon-Warren has said during an interview that creditors will have to wait to see whether a buyer can be secured to restart some, or all of the BCL operations. - more

     China steel mill spreads surging, as weak raw materials find foothold - Steel mill export product spreads with raw materials in China have surged in the past week on the back of a strong recovery in May, which may be incentivizing seaborne raw materials purchases as traders lock in margins. - more

     EU Steel Prices Decline due to High Inventories and Import Pressure - Flat product price weakness persists in both the north and south of Europe, according to MEPS. Spot business is slow amidst a reluctance to commit to forward transactions for third quarter business. - more

     Local View: Minnesotans could be left holding the bag after mining - Most Minnesotans have heard about the troubling risks that come with copper-nickel mining projects like the proposed PolyMet mine. - more

     Section 232 Investigation on the Effect of Imports of Steel on U.S. National Security - more

  • Wilbur Ross, Commerce Secretary, Sure Doesn't Understand The Steel Trade - more
  • American Institute for International Steel - 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, June 21

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.00/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and now total just under the 377,100 tonne level. Nickel's bullish bump evaporated for the most point yesterday, caught up in an overall bearish mood in commodity and equity markets. Traders are a little less pessimistic today and nickel at the moment is higher, although still trading under $9000/tonne. The $4/lb level did hold again, which is a technical line that traders are fighting to stay above. Technical indicators are mixed this morning, with nickel trading above and below its 10 day moving average. World Steel Association reports worldwide steel production in MAy was 2% higher than the same time last year. EU warns that any action taken by the Trump administration because of the Section 232 investigation findings could be harmful to world steel trade. And down in Australia, where its the first day of winter, Clive Palmer files a defamation suit against one of the papers there.
  • Average price of cash nickel so far this month - $4.01/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 flat as strong dollar holds sway - 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
  • Reuters - London Metal Exchange tin stocks have sunk below 2,000 tonnes to the least since 1998, while benchmark LME tin prices have fallen more than 7 percent so far this year, making it the second worst performing base metal after nickel
  • Oil Slide Weighs on Stocks; Haven Assets Advance: Markets Wrap - more

     China's stainless steel glut a new headwind for nickel - International nickel prices have remained soft in recent months, with the price of the metal for three-month delivery on the London Metal Exchange down 20% to around $8,900 per ton from its most recent high reached in late February. - more

     May 2017 crude steel production - World crude steel production for the 67 countries reporting to the World Steel Association (worldsteel) was 143.3 million tonnes (Mt) in May 2017, a 2.0% increase compared to May 2016. - more

     Miners punished as iron ore price continues decline - The Northern China import price of 62% Fe content ore turned weaker again on Tuesday trading near one year-lows of $54.40 per dry metric tonne according to data supplied by The Steel Index. - more

     India Nickel Scrap prices advance in line with Nickel Futures - India's major nickel scrap prices advanced on the Scrap Register Price Index as on Monday in line with nickel futures prices at India's Multi Commodity Exchange mainly due to Indonesian nickel smelters cease operations due to falling prices. - more

     China’s plan to boost commodity trading needs reality check: Russell - The call by China’s securities regulator for the country’s wealth managers to invest in domestic commodity futures is both encouraging and somewhat bizarre. - more

     EU looking at firm actions if US S232 measures go ahead - The European Union is considering taking action in response to the US’s Section 232 investigation against steel imports, should this go ahead, as it could have a “disastrous” impact on world steel trade, said speakers at S&P Global Platts’ European Steel Markets conference in Barcelona Monday. - more

      Inside the wonderful world of Nickel - Nickel is without a doubt one of the most underrated metals in the world. First discovered in 1751, the chemical element is found in everything from televisions to batteries to stainless steel, making it one of several metals that makes modern life work. - more

     Clive Palmer sues newspaper for defamation - Clive Palmer is suing The Courier-Mail for defamation over an opinion piece published in the Queensland newspaper. - 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

June 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,
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and ASTM F594 Stainless Hex Nuts
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