Stainless Steel News and Nickel Prices



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stainless steel daily news
Wednesday, September 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $9.80/lb  ($21,610/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell just a tad more than it rose yesterday and ended the day just under the 51,800 tonne level. Nickel continued its slide yesterday, and is only slightly lower this morning. News that might affect commodity demand and supply include a hurricane approaching the US, after striking Cuba (no reports of damage to Cuba nickel production yet), suspected sabotage damages two natural gas pipelines that transport gas to Germany from Russia (will not help energy crisis in Europe), covid outbreak in Tianjin, China, and a week long holiday next week in China. Stay safe out there and enjoy your hump day!
  • Average price of LME traded cash nickel so far this month - $10.33/lb

  Reports

  • Reuters metals morning - Most base metals slide on dollar strength, demand worries - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • US Weekly Economic Commentary: Worsening financial conditions likely to tip US into recession - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper extends losses on firm dollar, growth worries - Copper prices extended their downtrend on Tuesday on worries about global growth and demand due to interest rate hikes, a stronger dollar and climbing inventories. - more

     Chrome Ore Shipments in Tianjin are Disrupted by Sudden Aggravation of Pandemic - The COVID-19 pandemic situation in Tianjin deteriorated yesterday, with another 42 cases being confirmed. - more

     Italian stainless flats sales improve slightly, uncertainty remains - Some sales activity for Italian stainless steel coils, sheets and tubes is resuming in September after a long period of market weakness, sources in the sector tell Kallanish. - more

     Taiwanese stainless steel wire rod imports & exports fall in Aug m-o-m - In August, Taiwanese stainless steel wire rod exports amounted to about 9,000 tons, a month-on-month decrease of 20.6%.  - more

     Commerce min for imposing anti-dumping duty on Chinese steel tubes, pipes - The commerce ministry has recommended imposition of anti-dumping duty on Chinese steel tubes and pipes for five years to guard domestic players from cheap imports from the neighboring country  - more

     Finland plans new tax on mining - Finland's government plans to introduce a new tax on minerals extracted by the mining industry, the Nordic country's finance ministry said on Tuesday. - more

   Other News

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more


September Archives


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(all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 7 am CST, Friday version before 8 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Please note - for real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.




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