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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 Market

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Monday, February 18

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.62/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and fell on Friday and started the week just over the 200,300 tonne level. Nickel prices jumped late Friday, playing catchup to the rest of the markets, on positive news coming from China on the trade talks. It recovered losses from the prior two days and ended the week about $10/tonne lower than it closed on Tuesday. This helps flatten out the downtrend nickel had been for the month of February. Xinhua reported that US and Chinese representatives made "important progress for the current stage". They resume talks in Washington this week. World markets reacted positively to the news. The week is starting quietly but that rarely lasts. Have a good week!
  • Average price of cash nickel so far this month - $5.70/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Copper rises on China loan data, lack of Freeport export permit - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more
  • Nickel Institute - new website here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • New Caledonia's north braces for Cyclone Oma - more
  • Progress in U.S.-China trade talks sparks world stock rally - more
  • Stocks Mixed as Trade Hopes Lift Asia, Commodities: Markets Wrap - more

     Friday's market review - China lending data helps copper to a positive end to a poor week - Copper prices rose on Friday after better than expected lending data in China, the world's biggest consumer, bolstered the demand outlook. - more

      Sherritt International reports higher annual nickel production at Cuban JV - Sherritt International (TSX: S) released its financial results for Q4 2018, today, reporting the company’s share of finished nickel production at the Moa joint venture (JV) in Cuba and Saskatchewan, Canada was 4,294 tonnes, up 4% from last year, while finished cobalt was 428 tonnes, down 8% from Q4 2017. - more

     Global nickel boom gives mothballed mine in WA's remote Kimberley a second lease on life - The expected demand for electric vehicles is driving optimism in the global nickel industry and breathing new life into a mothballed mine in Western Australia's remote East Kimberley after a three-year hiatus. - more

     Mining leases delay poses threat to economy: Aopi - Post Courier - The PNG Chamber of Mines and Petroleum says the continued success of existing projects and the development of new ones is critical to the future of the country. - more

     Rome city hall victim of €55 million nickel scam - Rome city hall is the victim of a €55 million scam involving a roll of nickel wire, in a bizarre tale reported by daily Rome newspaper Il Messaggero. - more

     Elon Musk Says SpaceX Is Developing a Complex 'Bleeding' Heavy-Metal Rocket Ship - SpaceX, the aerospace company founded by Elon Musk, is working diligently on a wildly ambitious project: to permanently settle people on Mars. - 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

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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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