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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 Bolts

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Thursday, September 21

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.16/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.20/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 380,100 tonne level. Nickel has been sliding all morning and is currently trading below support at $11,000 tonne and  has yet to establish a bottom for the day. Nickel rose yesterday, but like a bullish trend with bearish days, yesterday's bullish day is apparently not stopping the bearish trend nickel has fallen into since early this month.  The last time nickel closed below the $5/lb level was on August 18th and unless nickel gets a bounce in the next few hours, we will see that happen today. Candlesticks and technical signals are all red this morning. North American Stainless is announcing a second price increase in as many months on their stainless steel product. The Thyssenkrupp and Tate Steel merger is becoming a political issue in Germany with the opposition party claiming the move of the headquarters out of Germany to the Netherlands would be a precursor to more job moves in the future. Another light day on the news front for the nickel and stainless steel industry's. This is our last update for teh week, so we wish each of you a safe and relaxing weekend and hope your upcoming fall (or spring south of the equator) is a successful one.
  • Average price of cash nickel so far this month - $5.26/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 - London metals slip after Fed raises rate hike expectations - more

  Reports

  • 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
  • European Steel Is Finally Getting the Deals It Craved for Years - more
  • Refractories, steel mills feeling the burn of higher raw material costs - more
  • Iron ore's recent reversal likely the start of longer slide: Russell - more
  • European Stocks Climb as Bonds Dip in Wake of Fed: Markets Wrap - more

     North American Stainless News - Due to further rising manufacturing and operational cost, it is necessary that NAS increase the price on the following products effective with shipments November 1, 2017: • Cold Rolled 300 series, 200 series, and 400 series increase achieved by reducing the functional discount 2 points. - more

     BYD predicts ambitious China shift to electric cars by 2030 - Chinese automaker BYD Co Ltd expects the country’s shift to cleaner new-energy vehicles to be complete in just over a decade, an aggressive timeframe that would challenge traditional carmakers in the world’ top auto market. - more

     Merkel Challenger Blasts Thyssen-Tata Deal as Election Nears - Chancellor Angela Merkel’s main challenger slammed a plan by Germany’s iconic Thyssenkrupp AG and India’s Tata Steel Ltd. to cut thousands of jobs as they merge their European steelmaking operations, moving the headquarters out of Germany to the Netherlands. - more

     Chinese conglomerate issued with operator permit in Musina-Makhado special economic zone, SA - Shenzhen Hoi More Resources Holding Co. has signed a cooperation agreement with the South African Limpopo Economic Development Agency that has provided the Chinese conglomerate with an operating permit in the Musina-Makhado special economic zone. - more

     S.Korea buys 90 T nickel, re-issues tenders to buy zinc, tin - South Korea bought 90 tonnes of nickel and reissued separate tenders to buy a combined 250 tonnes of tin for November arrival and 1,000 tonnes of zinc for December arrival, state-run Public Procurement Service said on its website (http://www.g2b.go.kr.) - more

     SOEs urged to accelerate development of Kuala Tanjung industrial park - ... The IMIP complex focuses on nickel smelting and nickel-content stainless steel production. - 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

Wednesday, September 20

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.05/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.14/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 380,700 tonne level. Nickel fell yesterday and once again bounced off the $4.92/lb level, which is setting itself up as strong support, and $11,000/tonne as minor and psychological support. Today nickel is bouncing as base metals in general are trading higher. The Euro is higher against the US Dollar today, which is adding some support, but the Yuan continues to flounder. Societe Generale analyst Robin Bhar said in a report and quoted in Reuters "We estimate marginal production costs at around $10,400/$10,500, that will be an anchor for the downside. Demand from stainless and non-stainless applications is healthy." That would put his target at between $4.72/lb and $4.76/lb. At the moment, we show nickel is trading above its 30 day MVA but below the 10 day. This is causing a mixture in technical signals, with short term and long term still positive, but mid term a mixture of positive and negative signals. For those who follow candlestick patterns, the market has sent a strong hammer signal both Friday and yesterday, but is sending mostly negative signals today. For industry news, we found absolutely squat to offer you today.
  • Average price of cash nickel so far this month - $5.27/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 - Aluminium hits five-year high as China supply cuts loom - more

  Reports

  • 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
  • EU Flat Product Steel Prices Rise in September, Further Increases Expected in October - more
  • Societe Generale analyst Robin Bhar - "Nickel rose about 40 percent between July and early September, overshooting to above $12,000. Speculators are selling."
  • Stocks Swing, Bonds Edge Up With Oil Before Fed: Markets Wrap - more

     Nickel falls towards 1-month lows on fund selling - Nickel prices fell on Tuesday towards the one-month lows hit last week as funds took profits, but concern about supplies from the Philippines and healthy demand, particularly from Chinese stainless steel mills, are expected to lend support. - more

     Global nickel market deficit widens in July-INSG - The global nickel market tipped into a wider deficit in July as demand from top stainless steel producer China surged, data from the International Nickel Study Group showed on Wednesday. - more

     World Bureau of Metal Statistics - WMS Press Release September 2017 - The Nickel market was in deficit during January to July 2017 with apparent demand exceeding production by 35.9 kt. In the whole of 2016 the calculated deficit was 68 kt. - 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

September 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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ASTM F593C, F593D, F593G, F593H,
304 and 316 Stainless Steel Hex Bolts
and ASTM F594 Stainless Hex Nuts
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