LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

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Tuesday, December 12

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.10/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 375,500 tonne level. Industry news is very quiet today. Nickel jumped approximately $300/tonne about an hour after we posted yesterday, and then settled in around the $5.05/lb level, where it remains today. The move successfully broke nickel out of a week old channel, although it remains to be seen if that accomplishment is more than temporary. Chinese steel futures moved up yesterday, but backed off a little today. With fundamentals offering little reason for a movement, technical indicators are being watched closely. And at the moment, they are sending a neutral signal, with independent measures equally mixed.  Nickel is currently trading at its 10 day MVA, which is now running below both the 30 and 100 day MVA. The 200 day is running at $4.73/lb today so it appears to be safe for now.
  • Average price of cash nickel so far this month - $4.99/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Most China metals rise, buoyed by signs of industrial cuts - more


  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Push Higher as Oil Rises; Dollar Slips: Markets Wrap - more

     (Monday re-cap) Copper inches higher on softer dollar, China data - Copper prices gained for a fourth straight session on Monday, supported by a weaker dollar and data from top consumer China that indicated higher demand. - more

     ISSDA Forecasts 9% Jump in Stainless Steel Production - According to ISSDA, the domestic steel production in India is estimated to touch 3.6 million tonnes in 2017, significantly higher by 9% when compared with the previous year. - more

     Nickel Outlook 2018: Price Gains and Growing Battery Boom - What's in store for nickel in 2018? Experts share their nickel outlook, pointing to price improvement and increasing demand from the battery space. - more

      Vale to Preserve Nickel Optionality: Expects Electric Car Boom - On Vale Day on December 6, 2017, Vale pared back its production forecasts for nickel for the next five years. It cut its nickel volumes estimate by 15% to 263,000 tons in 2018. - more

     Analysis: China, global steel mill spreads strong into year end - Global indicators of operating margins at steel mills look strong across the board into the end of the year, as increases in steel prices have kept up with volatile iron ore, coking coal and scrap costs, according to S&P Global Platts analysis and data. - more

     Canico accepts sweetened CVRD offer - Canico Resource Corp. yesterday endorsed a sweetened bid from Brazil's Companhia Vale do Rio Doce, marking the second time the Canico team has groomed a project to the point where a chequebook-toting suitor came knocking at the door. - 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

December 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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