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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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Thursday, August 21

    We will be traveling on Friday and our next update will be Monday morning. Have a safe and relaxing weekend.

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $8.60/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 324700 tonne level. It is worth noting this is the first 3 day stretch where a new record high has not been set since min July, when we began setting all time record highs nearly every day. Yesterday, we mentioned the technical triangle that was forming. Later in the day, nickel rose above and closed outside that triangle. This morning, trading has so far been choppy, with the triangle appearing to act as support. This could mean one of two things. Either the technical signal is actually working and a second close above could mean higher prices in the days ahead. Or, traders are trying to keep nickel above the triangle more out of desperation, than reality. We have seen this happen before during this bull market and it tends to cost the bulls some profits when it fails. So once again, the market gives us the would of, could of, should of scenario that makes trading a gamble. And once again, buyers of nickel grow ulcers. We are on the road tomorrow, so our next update will be on Monday.  
  • Average price of cash nickel so far this month - $8.41/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 - Aluminum Falls From 18-Month High After China PMI Data - more
  • Reuters metals morning - Copper, aluminium down on sluggish China, Europe business activity - more


  • Worldsteel Monthly Statistics for July 2014 - pdf here
  • Reuters Metals Insider - pdf here
  • 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 - 84.97
  • 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
  • Increase in import duty on China - more
  • The Overnight Report: The Fed Confounds - more
  • U.S. Fastener Trade in H1 2014 Shows Dual Growth - more

    Molybdenum production and use fall slightly - Global use of molybdenum in the first quarter of 2014 decreased to 136.1 million pounds, down 2% from 138.2 million pounds in the previous quarter but 7% higher than the same quarter in 2013, figures released today by the International Molybdenum Association (IMOA) show. - more

    China's Trade of Molybdenum in Jan-Jun 2014 = As compared with year-earlier period, export is up by 92% and import is up by 77%= According to the calculation to figure out volumes in pure Mo equivalent based on China's customs statistics, the export volume in the period from January to June in 2014 was 8.8909 million lbs (up by 91.7% from the year-earlier period) and the import volume was 9.8738 million lbs (up by 68.8% ditto). - more

    Snub adds to Nickel West stress - The decision to leave Nickel West out of BHP Billiton's second-tier asset spin-off makes it even more critical for the business to secure offtake deals with Western Areas or Sirius Resources, according to Deutsche Bank analysts. - more

    China says Australian tycoon's attack 'irrational and absurd' - China's foreign ministry has condemned a verbal attack by Australian mining mogul and politician Clive Palmer as irrational and absurd, after the businessman described China's government as "bastards" who shoot their own people. - 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

 August 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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