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Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Market

Wednesday, July 18

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $6.12/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and started today just over the 262,400 tonne level. The average cash price of nickel fell below $14,000 tonne yesterday, for the first time since May 11th. With the 200 day moving average at $6.00/lb, the traded price of nickel is getting dangerously close to testing that level of support. The daily price is now trading where it was back in early April. Another quiet summer day for industry news. Yesterday's official cash price was 29% higher than it was this day last year, but 15% lower than its high for the year of $7.14/lb of May 7th. The bottom remains to be identified.  
  • Average price of cash nickel so far this month - $6.34/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Zinc prices rally from 1-year lows as inventories drop - more
  • Reuters Daily Inside Metals - pdf 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
  • Commentary: As trade war escalates, China's steel exports are rising again - more
  • Dollar Extends Advance After Powell; Stocks Climb: Markets Wrap - more

       Tuesday's market review - Copper falls as upbeat U.S. Fed boosts dollar - Copper prices edged lower on Tuesday along with aluminium and nickel, pushed down by a stronger dollar and fears that demand will be damaged by a global trade war and weaker economic growth in top consumer China. - more

      Viewpoint: Stainless scrap looks to maintain uptrend - The stainless steel scrap market enters the second half of 2018 supported by positive consumer sentiment and LME nickel price momentum. - more

      Production at District 10, China Expected to Make Recovery = Price of SiMn gets weakened prior to others = A large-scale inspection the Ministry of Ecology and Environment of China (MEE) made in 10 districts (Inner Mongolia, Ningxia, Yunnan, Guangxi, Hebei, Jiangsu, Guangdong, Henan, Jiangxi and Heilongjiang) from the end of May finished on July 7. - more

      LME to launch monthly 'implied pricing' for base metals - The London Metal Exchange (LME), the world’s biggest and oldest market for industrial metals, is implementing an “implied pricing” functionality, a set of synthetic monthly prices, in an attempt to offset increasing competition from other exchanges such as those operated by CME Group. - more

     Baosteel Keeps Domestic Prices of Most Sheets for August Unchanged - According to informed sources, China's Baosteel disclosed on 10 July its domestic prices of steel products for August shipment. At this point, it is said to have raised the price of stainless steel plate, which has been included since July shipment, by 300 CNY ($46). - more

      Courtesy AISI - In the week ending on July 14, 2018, domestic raw steel production was 1,783,000 net tons while the capability utilization rate was 76.1 percent. Production was 1,733,000 net tons in the week ending July 14, 2017 while the capability utilization then was 74.3 percent. The current week production represents a 2.9 percent increase from the same period in the previous year. Production for the week ending July 14, 2018 is down 0.5 percent from the previous week ending July 7, 2018 when production was 1,792,000 net tons and the rate of capability utilization was 76.4 percent. - more

      Lakes, rivers near abandoned mine sites likely source of antibiotics - Canadian scientists from Laurentian University have found that waterbodies impacted by decades of mining activity could be a potential new source of antibiotics. - 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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