Stainless Steel News and Nickel Prices



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stainless steel daily news
Wednesday, July 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.57/lb  ($16,680/tonne). Indicators at 5:40 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply yesterday, and started today just under the 101,600 tonne level. Shanghai nickel slipped to 131,810 y/t overnight. LME nickel stockpiles have not recorded above the 100,000 tonne level since early January 2022. With nickel stockpiles continuing to grow, while nickel mines continue to close, we are witnessing the affects of waning global demand, offset by the explosive growth in Indonesia nickel processing. While stainless steel production remains positive around much of the world, sales of EV's are faltering, which is putting negative pressure on EV battery producers. What does the future hold? Stay tuned. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $7.66/lb

  Reports

  • Reuters metals morning - Copper holds in tight range as supply concerns... - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • AMT LME COTR Analysis 16 July - more
  •  Manufacturers Sales - 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 - Aluminium hits three-month low on heavy supply, copper slips - Aluminium prices dropped to the lowest in over three months on Tuesday on worries about oversupply, while copper ... - more

    Stainless steel futures become strong on Jul 15 - On July 15, stainless steel futures on the Shanghai Futures Exchange closed at CNY13,925/ton, an increase of CNY50/ton. Meanwhile, the spot market remained ... - more

    BHP joins the lengthening list of nickel price casualties -  Indonesia's nickel production surge is crushing competitors and challenging the West's ambitions of diversifying its critical metals supply chains. - more

    Infographic: La Nina's looming impact on global commodity markets - The likely return of the La Nina climate phenomenon, and the associated shift in global weather patterns and temperature extremes, ... - more

    EU faces green dilemma in Indonesian nickel  - Nickel is essential for the global transition to green energy, but mining often comes with environmental challenges, las was recently demonstrated in the case ... - more

   Other News

  • Three reasons why iron ore price increases are unlikely - more
  • Bird flu found in Oklahoma dairy herd, showing bigger US outbreak - more
  • What Was Up with Grocery Prices? - more
  • Chinese-owned solar factories in the United States - more

  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
  • The Journey of Nickel - video here
  •   Слава Україні! - more
  • Market Briefing - Commodity Prices - pdf here
  • ImportYeti (free) - search here
  • 5 Things You Need to Know about Class 1 & 2 and Intermediate Nickel (Transcript) - more

July 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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