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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

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Thursday, February 11

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $3.60/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.07/lb lower, and has yet to find a bottom today. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 438,750 tonne level. Nickel appears to be caught up in an incredibly negative investor sentiment, with Asian and European equity markets trading much lower, and US futures in the red as well. Nickel closed below the $8000/tonne level for the first time in over a decade yesterday. It looks to be another brutal day for the longs. This is our last update for the week, so have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $3.77/lb
  • Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb / avg 2012 - $7.95/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)
  • Reuters metals morning - Copper recovers after Fed statement undercuts dollar - more
  • Bloomberg metals morning - Rio Leads Miners Lower After Slashing Dividend; Nickel Falls - more

  Reports

  • Reimagining metals operations - pdf here
  • Reuters Metals Insider - 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
  • Rio Tinto ditches boom time payout policy as profit plunges - more
  • Glencore steps up debt-reduction plan, reports drop in copper output - more
  • Stock Rout Deepens, Bonds Surge as Faith in Central Banks Fails - more

    Finland's Outokumpu plans cost cuts to stem losses - Outokumpu, the Europe's largest stainless steel maker, on Thursday posted an underlying loss from the fourth quarter and forecast more losses in the first quarter, adding it aims to improve profitability with new cost cuts. - more

    Production Cuts by BHP Billiton and Glencore Could Spur Nickel Prices - Both nickel miners are expected to announce production cuts in coming weeks, Bidness Etc highlights chances of a consequent hike in nickel prices - more

    Nickel’s price woes blamed on Chinese collateral holders - Chinese “shadow bankers” may have been scared away from using copper (and presumably other metals) as collateral after abuses of the practice were exposed in 2014, but the same tactics may again be in use, this time with primary nickel as the metal being held in deep inventory. - more

    Production Plan for Special Steel Products in Jan-Mar 4.751 Mil. Tons = Up from prior period, but continues to be down from year-earlier period = On February 3, the Ministry of Economy, Trade and Industry made clear the production plan for hot-rolled special steel products in the period from January to March in 2016. - more

    ASIC unravels Queensland Nickel collapse - The corporate watchdog has a shopping list of reviews as it tries to unravel the collapse of Clive Palmer's Queensland Nickel. - more

  • ASIC says Clive Palmer could face criminal charges - more

    Six Members Resign From London Metal Exchange - Six companies, including the world's second-biggest iron ore exporter, have all given up their membership of the London Metal Exchange, the metals bourse said Friday. - 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

February 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
In stock - contact the author for current pricing and availability

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