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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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Wednesday, July 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $8.66/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and now total just over the 310,700 tonne level. With the news that the new Indonesia president is willing to sit down with miners and discuss the ore export ban, and Europe showing little desire to put any major sanctions against Russia in place, traders are showing little enthusiasm to do much after regaining the $19,000 tonne level yesterday. Patricia Mohr, a vice-president with ScotiaBank, is reportedly forecasting nickel to average $10.75/lb next year. That is the average he is forecasting - not the high. Mr Mohr is one of the analysts we watch closely, and while not always agreeing with them, we do respect their opinions. The market is trading based on speculation at the moment. The market is in agreement that the nickel supply and demand parameter will enter a deficit situation, possibly as soon as next month, as stainless steel producers begin to stock up on nickel again. How big of a deficit situation we will enter is the argument and the speculators are trading based on the more severe case scenario's.  That said, the reality of today and the supply surplus we see in the market, has little to do with what is happening to the price of nickel. And as long as the market does not have an answer to how serious the deficit situation will get, the price of nickel will continue to climb. Trading is based on speculation, and there is plenty of that going o with nickel these days.   
  • Average price of cash nickel so far this month - $8.68/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)
  • Business Recorder metals morning - London zinc, aluminium near peaks as investors buy - more

  Reports

  • Sucden Quarterly Metals Report - July 2014 - pdf here
  • June 2014 crude steel production - more
  • Oryx Stainless - Attraction is not just a given moment in time - more
  • 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 - 86.00
  • 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
  • (FAN) Customs data show that high carbon ferrochrome total imports is 139,900 tons in June, down 30.15% MoM, and up 31.75% compared with the same period of previous year.

    Indonesia's new president says he will sit down with miners - Indonesia's new president Joko "Jokowi" Widodo said he wants to sit down with mining companies and other parties in a bid to resolve a row over mining policies that has halted $500 million of metal exports a month in Southeast Asia's biggest economy. - more

    Nickel to surpass $10 a pound by 2015: analyst - Nickel prices could reach an average price of US$10.75 per pound by 2015 according to a Scotiabank commodity market specialist. - more

    Two Vale New Caledonia guards shot - Two guards at the Vale nickel plant in New Caledonia's south have been injured after an unidentified gunman shot at them. - more

    Inquiries of SUS316 Products Trend Upward from China - As the Chinese Government has embarked on environmental pollution control measures against PM2.5 and so on, inquiries for Japanese cold-rolled (CR) stainless steel sheets to SUS316 are increasing. - more

    Nickel Asia: Tuesday drop caused by confusion over Indonesian report - Nickel Asia said Tuesday's 6 percent plunge was the result of confusion over a report on Indonesian metal exports. - more

    China, Cuba sign cooperation agreements during Xi's visit - China and Cuba on Tuesday signed an array of 29 cooperation agreements to support the Caribbean country's development and enhance bilateral ties as President Xi Jinping paid his first-ever state visit to Cuba. - more

    Group fears Zambales nickel mining killing marine life - Fishermen in this northern town of Zambales have expressed fear the rich coastal marine resources that have sustained them for ages will one day cease to provide livelihood and life because of pollution from nickel mining. - 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

 July 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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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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