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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 Market

Wednesday, November 14

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed  Tuesday's trading session at $5.15/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just over the 216,300 tonne level. Nickel can't find its footing, and continues to slide, although it is trading off yesterday lows of $5.10/lb. Steel futures in China rebounded slightly last night, but the trend is still negative. The US Dollar is trading off yesterday's high. which was also the highest for the year, and the highest since mid 2017. Macro economics continue to keep the commodity walkway dotted with quicksand. Besides the concerns we mentioned yesterday, the elephant in the room has been in the 21st century, and remains, economic growth in China. It's not always easy getting reliable information from the country, but signs are emerging that things are starting to slow down there. Will this force the Chinese to make concessions at the G20 meeting? We still have a few weeks to find out.  
  • Average price of cash nickel so far this month - $5.27/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb


  • Reuters metals morning - Copper falls as China’s Oct retail sales disappoint - more
  • Reuters Daily Inside Metals - pdf here
  • Jim Lennon, managing director of Red Door Research, on the future of nickel - video here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • JPMorgan's co-head of metals to leave around end of the year - more
  • U.S. budget deficit expands to 100 billion USD in October - more
  • U.S. Holds Off on Trump’s Car Tariffs After Trade Meeting, Sources Say - more
  • Stocks Drop as Oil Turns Higher; Pound Fluctuates: Markets Wrap - more

     Tuesday's market review - Copper advances on U.S.-China trade optimism - Copper prices rose on Tuesday as worries about growth in top consumer China receded after a report that the country’s chief trade negotiator could visit the United States before a meeting between the two countries’ leaders. - more

       Ni-base CR SST Market Price in Asia About to Sink below $2,000 CFR - The prices of nickel (Ni)-base cold-rolled (CR) stainless steel (SST) in the Asian region have been falling further: the price of SUS 304 to Hong Kong has gone down to $2,050 CFR. - more

      Traders forecast bearish outlook for iron ore, steel on weak China economic data  - The steel market responded negatively to mixed economic data out of China Wednesday, with most tipping a weak end to the year. - more

        LP finance chief in trouble over nickel shipment - The Department of Environment and Natural Resources has asked the Bureau of Customs to look into the possible undervaluation of a shipment of nickel ore to China by Eric Gutierrez of S.R. Metals Inc., who is also the treasurer of the opposition Liberal Party. - more

      The EPA Can’t Wait to Reopen the Mine That Poisoned North Idaho - For a century, the mines of the Coeur d’Alene Mountains in North Idaho produced much of the heavy metals that made the U.S. a global superpower. - more

      Glencore to install underground LTE network at Raglan’s Qakimajurq nickel mine in 2019 - Glencore’s Raglan nickel mine team in Nunavik, northern Quebec stated recently: “Technology is omnipresent in our personal lives and has changed our personal lifestyle habits. - 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

November 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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