This page is archived news covering the period of December 2023
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Stainless Steel News and Nickel Prices



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Friday, December 29

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • (Delayed upload due to local internet outage) Nickel closed Thursday's trading session at $7.60/lb ($16,765/tonne). Indicators at 6:00 am CST today show nickel trading around $.10/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply again on Thursday and started today's session just over the 64,050 tonne level. Shanghai nickel fell to 125,210 y/t overnight. LME will be closed for trading on Monday  for the New Years celebration, so our first update for 2024 will be next Tuesday. With that, we end the year like we did the last. We toast the new year with a quote from the old TV series MASH - "Here's to the New Year. May she be a damn sight better than the old one, and may we all be home before she's over." May 2024 bring you and yours health, hope, and happiness. And we invite you to visit us daily - next year. 
  • Average price of LME traded cash nickel so far this month - $7.44/lb

  Reports

  • Reuters metals morning -
  • Refinitiv Inside Commodities - not posted
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - 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 

    Thursday's market review - LME aluminium, nickel inventories hit fresh highs - Aluminium and nickel inventories in London Metal Exchange (LME) registered warehouses jumped to fresh highs .... - more

     Fire Breaks Out Again at GNI's Nickel Smelter; House Urges Stern Action - The nickel smelter of PT Gunbuster Nickel Industri (GNI) in North Morowali, Southeast Sulawesi, caught fire again on Thursday, Dec. 28.  - more

    Low Battery Metal Prices Set to Persist in 2024, Adding Friction to Energy Transition - Prices for metals used in batteries swooned in 2023, as rising supply and weak demand drove lithium to its cheapest level ... - more 

    3 things that will change for global steel markets next year & 3 that won’t - The landscape surrounding the steel markets is set to shift in 2024, but will some things really change?  - more

    Jindal Stainless to raise cold-rolling capabilities with acquisition of RVPL - The board of directors of Jindal Stainless Limited (JSL), the largest stainless steel manufacturer in India, has approved the .... - more

     Courtesy AISI - In the week ending on December 23, 2023, domestic raw steel production was 1,693,000 net tons while the capability utilization rate was 73.7 percent. Production was 1,576,000 net tons in the week ending December 23, 2022 while the capability utilization then was 70.6 percent. - more

   Other News

  • China ups the ante in bid to rival SpaceX’s Starlink as G60 megaconstellation satellite rolls off the production line in Shanghai - more
  • China Tightens Its Grip On Critical Metals With A New Trade Ban - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
Thursday, December 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.67/lb  ($16,910/tonne). Indicators at 6:00 am CST today show nickel trading around $.06/lb  lower, Stockpiles of nickel stored in LME licensed warehouses jumped by more in one day than it had in over 5 months this year and ended the day just over the 62,000 tonne level. Shanghai nickel fell slightly to 129,510 y/t overnight. China media is reporting at least 4 of the workers killed in the Indonesia nickel plant explosion, were Chinese workers. Merafe announces its European benchmark price for ferrochrome will lower in the first quarter of 2024. Stay safe out there and have a great Thursday! 
  • Average price of LME traded cash nickel so far this month - $7.44/lb

  Reports

  • Reuters metals morning - Copper hovers near five-month high on soft dollar - more
  • Refinitiv Inside Commodities - not posted
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - 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 

    Wednesday's market review - Base metals rise on Chinese data; aluminium hits eight-month high - Base metals prices rose in London on Wednesday, buoyed by industrial profit gains in top metals ... - more

    Taiwan's stainless steel mills might keep prices flat for Jan - Taiwan's leading stainless steel mills will announce the new prices for January this week. Global raw material prices were stable in December. - more

    Merafe Resources media release - Shareholders of the Company are advised that the European benchmark ferrochrome price for the first quarter of 2024 has been settled at 144 US cents per pound, a decrease of 5.9% from the fourth quarter of 2023.

    Hundreds of Indonesian nickel workers rally to press safety demands - Hundreds of workers in Indonesia's nickel industry staged a peaceful rally on Wednesday to demand better standards of work safety... - more

   High Nickel Alloy, Specialty Stainless Steel & Titanium Pipe & Fittings for Aerospace and Defense and the Petrochemical Industry - more

   The EU hot-rolled steel market will enter 2024 with weak demand, higher production and uncertainty over trade measures - European hot rolled coil prices showed signs of recovery towards the end of 2023.... - more

    Why big miners are getting into the metal recycling game - and will be for years to come - A US$700-million investment barely burns a hole in Rio Tinto Ltd.’s pocket. The sum is less than five per cent of its ... - more

   Other News

  • Maersk Prepares to Resume Shipping through Red Sea - more
  • Metal Identification Tests Guide - more
  • US aircraft carrier activity adds fuel to South China Sea tensions - more
  • AFT statement on USTR extension of China Section 301 tariff exclusions - more
  • “MAY THEY ROT IN HELL”: Trump blasted for hitting "new low" in Christmas Truth Social meltdown - 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
Wednesday, December 27

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.52/lb  ($16,570/tonne). Indicators at 6:00 am CST today show nickel trading around $.17/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose by another large amount before the break, and ended last week and started today's session just over the 57,800 tonne level. That is the most since early August 22. Shanghai nickel changed contracts on Monday and recorded 129,550 y/t overnight. LME nickel continues to sneak higher, but go no where fast for the month, boosted in part by a Euro that has been steadily climbing since mid month. In the world of nickel, a blast at a Chinese operated nickel refinery in Indonesia has so far killed 18, and wounded many more. The plant has temporarily ceased operations and workers protested safety concerns today. This comes on the heels of other work place incidents at Indonesia nickel mines and plants, and safety protests by workers. If safety was taking a back seat before, this could bring it forward as a top concern. The explosion and deaths could be responsible for the jump in London's nickel price this morning, as traders return to work and "trade the news". Last week of 2023. Stay safe out there and enjoy your hump day. 
  • Average price of LME traded cash nickel so far this month -

  Reports

  • Reuters metals morning - Copper steadies amid dollar weakness, supply concern  - more
  • Refinitiv Inside Commodities - not posted
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2023 - more
  • Personal Income and Outlays, November 2023 - more
  • University of Michigan: Consumer Sentiment - 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 

    Taiwan's stainless steel market strives to stabilize circulation prices; market expected to recover from Mar 2024 - The carbon steel in Taiwan's domestic market is strong, but the stainless steel market is relatively... - more

     November 2023 crude steel production - World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 145.5 million tonnes (Mt) in November 2023, ..... - more

    Taiwan’s Yusco & Tang Eng’s new prices expected to be supported by improved demand  - Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two major upstream stainless steel mills in Taiwan,... - more

   Indonesia nickel smelter furnace fire kills 13 workers, injures 46 - Thirteen workers were killed and 46 injured on Sunday in a fire at a nickel smelter furnace owned by Indonesia Tsingshan .... - more

  • Death toll at Indonesia smelter fire rises to 18, operation halted - more
  • Hundreds of Indonesian nickel workers rally to press safety demands - more
  Commodities 2024: US steel groups see intersection of trade, environmental policy narrowing - Groups representing the US steel industry are advocating for legislation in 2024 to support domestic demand and .... - more

   Other News

  • Russian billionaire Abramovich loses legal challenge against EU sanctions - more
  • White House Adds Nearly 400,000 Square Miles to U.S. Continental Shelf  - more
  • AllSides Media Bias Chart - 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
Friday, December 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed yesterday's trading session at $7.67/lb  ($16,900/tonne). Indicators at 5:30 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel saw another big jump on Thursday and started today's session just over the 56,050 tonne level. Shanghai nickel rose overnight, to 130,740 y/t. The Euro is on a slight uptrend against the U.S. Dollar, and this is being reflected in nickel's traded price. The bulls appear to want to end the year as close to the $17,000 tonne level as the bears will allow. There will much that could be said about the article below titled "Xi warned Biden during summit that Beijing will reunify Taiwan with China", but suffice it to say, China is not known to be a saber rattler. This, shall we call it, "statement of clarification", made privately to a President who had earlier in his administration, claimed the U.S. would militarily defend Taiwan from just such a reunification, should cause serious concern among any U.S business importing product from either of these two countries. From personal experience, the author can say with a high degree of certainty, that any such disruption to the flow of goods inbound from Taiwan, and China, could decimate the U.S. fastener industry - especially the stainless steel segment. While other Southeast Asian countries are making inroads into this industry, one in three iron fasteners exported in the world, was exported from China and Taiwan in 2021. European countries export a large percentile, but nearly all metric; not exactly popular in U.S. markets. In 2021, the U.S exported 8.76% of world fastener trade, while it imported 13.8%. Iron fasteners are one of SIC's that the U.S. still imports 'more' than China. How would your company react to a sudden halt to exports from these two countries? Are they as dependent on China or Taiwan as fasteners are? The potential for disruption is there and the experts agree the likelihood is growing. Maybe a goal for 2024 should be for your procurement team to start building relationships in countries outside of this region. One lesson many of us learned in years past, was that when a few primary sources become unavailable to their many users, other lesser known or lesser used sources suddenly become popular, and can take advantage of their newfound 'popularity'. When unionized freight companies went on strike years ago, non unionized carriers were simply unable to handle the sudden surge in freight. Non unionized companies were forced to limit their service for current customers only in many cases, crippling those who had service contracts with union carriers. It was a wake up call then, as COVID has been too many in recent times. Will aggression between China and Taiwan be the next? Time will tell, but we suspect this will be a topic we come back to multiple times in 2024. Let's end the week on that cheery note, and remind our regular readers that we will return on Wednesday for our next update. Stay safe out there, have a wonderful weekend, and we wish you the Merriest of Christmas'.    
  • Average price of LME traded cash nickel so far this month - $7.44/lb

  Reports

  • Reuters metals morning - Shanghai aluminium, zinc hit Nov highs on China rate cut prospects, Red Sea tensions - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • MolyReview issue 2, 2023 - pdf here

   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 

    Yesterday's market review - Metals spend the year pinned between old and new cycles - It's been a year to forget for industrial metal traders. - more

    Taiwan's stainless steel market strives to stabilize circulation prices; market expected to recover from Mar 2024 - The carbon steel in Taiwan's domestic market is strong, but the stainless steel market is relatively ... - more

     August: Vale unlocks the next phase of Voisey’s Bay - A key driver for the $1.7-billion expansion is the burgeoning demand for battery minerals. Vale signed a 2018 stream financing deal worth $690 million ... - more

   Tesla Cybertruck deliveries hostage to battery production hell - Elon Musk says prototypes are easy, production is hell. And when it comes to the long-awaited Cybertruck, Tesla's hell is its pioneering 4680 battery. - more

  We would like to thank the sponsor for our news page for 2023 and announce the site sponsor for 2024. They are the one and the same, PA Inc of Houston, Texas. 

Display booth at recent Stainless Steel World Convention & Expo 

Pai has been our sole news site sponsor since January 2022.

www.painc.com

(713)570-4900

   Other News

  • Xi warned Biden during summit that Beijing will reunify Taiwan with China - more
  • CBO Projects Lower Inflation, Higher Unemployment into 2025 - more
  • China bans export of rare earths processing tech over national security - more
  • Seaweed downstreaming could generate more income than nickel: ministry - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
Thursday, December 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.64/lb  ($16,850/tonne). Indicators at 5:30 am CST today show nickel trading around $.02/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Wednesday and started today's session just under the 53,700 tonne level. Shanghai nickel fell to 129,830 y/t overnight. With Christmas just around the corner, we expect things to slow down the rest of the week, at least until next Wednesday, when the LME reopens after their Monday and Tuesday holiday break. We will follow LME's schedule and post an update tomorrow, our last until next Wednesday as well. Stay safe out there, have a great day, and Merry Christmas and safe travels to those who are.   
  • Average price of LME traded cash nickel so far this month - $7.43/lb

  Reports

  • Reuters metals morning - Copper retreats as bullish investors pause ahead of holidays - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - 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 

    China's November nickel ore and its concentrate imports fell by 5.5% year-on-year - A breakdown of import data revealed that China imported a total of 3,868,780.81 tons of nickel ore and its concentrate  .... - more

    AMT LME COTR analysis 19 Dec.23 -  The most recent COTR data on LME speculative positions (for the week ending 15th December 2023) were released this afternoon. - more

    Italy’s Acciai Speciali Terni takes 20-day production suspension - Acciai Speciali Terni, a stainless steel manufacturer in Italy, will implement a 20-day suspension of its production for the Christmas... - more

    Indonesia anti-graft agency arrests Harita Nickel director - Indonesia's anti-corruption agency arrested a director of nickel miner Trimegah Bangun Persada, also known as Harita Nickel, over an alleged ... - more

    CISA: China’s crude steel usage to remain firm in 2024, to drop to 820 million mt by 2035 - China's steel consumption has peaked and will see an inevitable decline in the future, as stated by He Wenbo,... - more

    Turkey’s stainless steel flat products imports drop in Oct m-o-m, y-o-y - According to the Turkish Statistical Institute, Turkey’s stainless steel flat products imports totaled around 39,000 tons in October.... - more

    China’s Nickel King Powers-Up His Battery Business - China’s grip on energy transition tightened this week with the Hong Kong listing of a small battery making business controlled by Tsingshan Holding Group... - more

    High Nickel Alloy, Specialty Stainless Steel & Titanium Pipe & Fittings for Marine Applications, Offshore Structures, and Power Generation - more

   Other News

  • 2024 metal fabrication forecast: A boring year ahead? - more
  • Port of Los Angeles cargo volumes rise 19% YoY in November - more
  • Electric Cars With Recycled Batteries Are the Next Green Holy Grail - more
  • Breakdown of London courts findings in debacle suit - more
  • Are Steel Prices Going Up or Down? - 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
Wednesday, December 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.56/lb  ($16,675/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Tuesday and started today's session just over the 53,700 tonne level. Stockpiles have risen approximately 7400 tonnes so far this month, which compares to around 9,400 tonnes in gain to the first of this month since LME stockpiles bottomed out in June. So far, the nickel bulls seem to be shrugging off these sudden spikes in inventory numbers, and except for a deep drop to end last week, have successfully kept nickel away from earlier lows. Shanghai nickel rose slightly to 131,200, shadowing LME's last full session. Four major shipping companies, Maersk, Hapag-Lloyd, CMA CGM Group and Evergreen, have announced they are suspending operations in the Red Sea due to Houthi attacks on shipping there. Oil companies are also considering the same, with BP already halting their ships. World trade continues to be fragile. Stay safe out there, have a great hump day, and Merry Christmas!  
  • Average price of LME traded cash nickel so far this month - $7.43/lb

  Reports

  • Reuters metals morning - Most base metals gain as Fed rate cut bets boost demand hopes - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Nickel Price Chart - 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 - Copper climbs on expectations of tightening supplies  - Copper prices climbed on Tuesday as supply concerns fuelled by mine closures, a sliding dollar and falling stocks in  ... - more

    Global molybdenum production and usage rises in Q3 2023 - Figures released today by the International Molybdenum Association (IMOA) show that in the third quarter of 2023, global molybdenum production.... - more

    Chronicle of Shortages Foretold: A Continental Corridor for Critical Minerals is Urgently Needed - Demand for critical minerals is expected to surge on a path to net zero. - more

    Power pricing predictability reached for Glencore-Merafe ferrochrome smelter  - The application of State electricity utility Eskom for a six-year negotiated pricing agreement for the Glencore-Merafe .... - more

    High Nickel Pipe & Fittings for Chemical Processing - more

    Finland’s Outokumpu to invest in pelletizing plant for biocoke production - Finland-based stainless steel producer Outokumpu has announced that it has decided to invest approximately 30 million Euro ... - more

   Courtesy AISI - In the week ending on December 16, 2023, domestic raw steel production was 1,714,000 net tons while the capability utilization rate was 74.6 percent. Production was 1,576,000 net tons in the week ending December 16, 2022 while the capability utilization then was 70.6 percent. - more

   Other News

  • Asia’s central banks snap up gold in ‘new normal’ to reduce risk from US dollar - more
  • POSCO accused of greenwashing steel products - more
  • Why these women are leading the fight against miners to protect a pristine island in Indonesia - more
  • According to the International Nickel Study Group, Indonesia's primary nickel production accounted for 38% of world production in 2022.

  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
Tuesday, December 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.47/lb ($16,470/tonne). Indicators at 6:00 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and started today's session just under the 52,700 tonne level. Shanghai nickel fell overnight, to 131,070 y/t. Lot of news today so we leave you with it. Stay safe out there, have a great Tuesday, and Merry Christmas!
  • Average price of LME traded cash nickel so far this month - $7.43/lb

  Reports

  • Reuters metals morning - none posted
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - 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 

    Monday's market review - Commodities Overview: The stars align again for industrial metals - Every week, the commodities Overview gives you the opportunity to review the latest developments on the.... - more

    Australia deems copper, nickel strategic, opens funding pathway - Australia has opened a door to government funding for copper and nickel projects, putting them on a list of materials deemed essential .... - more

    Key Takeaway From SMM Southeast Asia Nickel-Chromium-Manganese Stainless Steel Industry Conference: Exploring Pricing Mechanism Based on the Current Development Situation of Indonesian Nickel Industry - more

    Long-delayed Minnesota copper-nickel mining project wins a round in court after several setbacks - The Minnesota Court of Appeals on Monday affirmed a decision by a state agency to grant a major permit ... - more

    China is still the top dog in commodities, but its bark is changing - For the past two decades the mantra in commodities has largely been if you build it, China will buy it. - more

    Nickel, high nickel alloy specialty stainless steel, and titanium piping products - more

    Nornickel joins stainless steel factory project, aims to increase nickel sales - Russian mining and metals giant Nornickel has decided to join a project to build a plant producing stainless steel products in Russia, ... - more

    Statement by Solway Investment Group on the decision by the Inter-American Court of Human Rights on Guatemala indigenous land rights concerning its two nickel mine companies - more

  Nickel-rich cathodes show promising results for longer-lasting EV batteries - A cost-effective approach for synthesizing single-crystal, high-energy, nickel-rich cathodes may open up the bottleneck that affects ... - more

    A deep dive into fabricating with Duplex Stainless Steel reveals innovation and reliability - Enerfab works hand in hand with its customers to understand how fabrication and welding affect the corrosion resistance... - more

   Other News

  • Canada to announce all new cars must be zero emissions by 2035 - more
  • Gold-priced steel: China’s tech breakthrough shatters Western market dominance - more
  • U.S. Steel Agrees to Be Bought by Japanese Rival After Long Takeover Saga - more
  • China jobs: suspended production, extended unpaid leave embody woes with private businesses under pressure - more
  • Chinese Vessels Enter Philippine-Controlled Reef in South China Sea - 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
Monday, December 18

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.74/lb ($17,070/tonne). Indicators at 6:00 am CST today show nickel trading around $.08/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Friday and ended the week just under the 51,850 tonne level. This is the first time that LME stockpiles have registered over the 50,000 tonne level since January of this year. Shanghai nickel rose to 133,390 y/t overnight. Nickel is trading lower this morning, possibly on the LME stockpile bounce. Raising by over 2600 tonnes in one day will catch traders attention and adds fuel to the surplus conversation. Some of the euphoria from the possibility of the Fed lowering rates next year is evaporating as well. Elliott is appealing the loss it received earlier in a lawsuit against the LME over the great nickel debacle. The Fenix project, a Guatemalan nickel mine with a checkered past, received its permits decades ago illegally, according to an international court ruling. The schedule for the LME shows they are closed next Monday and Tuesday for Christmas, and the next Monday for New Years Day. Stay safe out there and have a great week! 
  • Average price of LME traded cash nickel so far this month - $7.42/lb

  Reports

  • Reuters metals morning - Copper slips, but prospect of tight supplies sustains sentiment - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • ITS The State of Steel December 2023 - 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 

    Friday's market review - Copper gains on China industrial growth, hopes for lower rates -  Copper prices extended their gains on Friday on improving Chinese industrial data and hopes for lower U.S. interest rates. - more

    Int'l court rules against Guatemala in landmark Indigenous and environmental rights case - Guatemala violated Indigenous rights by permitting a huge nickel mine on tribal land almost two decades ago,.... - more 

    Stainless Club: CBAM implementation, any headway yet? - Chaos, a nightmare, a bureaucratic monster, and the art of complicating things are just a few ways the stainless steel community describes CBAM.... - more

    South Korea’s stainless steel CRC imports grow in Jan-Nov y-o-y - According to statistics from the Korea Iron and Steel Association (KOSA), South Korea imported a total of around 317,000 tons of cold-rolled .... - more

    Industrial output of China’s steel sector up 7.5 percent in Jan-Nov - In the January-November period this year, the value-added industrial output of the ferrous metal smelting and rolling sector in China recorded a ... - more

    The launch of blast furnaces in the Czech Ostrava is in jeopardy due to disputes with the energy supplier - Tameh Czech is the sole energy supplier to the Ostrava smelter, so its shutdown means Liberty will ... - more

    Elliott Granted Permission to Appeal Over Court Loss to LME - Hedge fund Elliott Associates was granted permission to appeal its loss in court against the London Metal Exchange over a nickel squeeze... - more

    The near disaster you probably never heard about - or how stainless steel saved the US from a Fukushima type nuclear disaster - (excerpt) That thin stainless steel covering was the only thing standing in the way of the collapse of the containment structure and widespread radioactive contamination, posing a health risk to thousands in the vicinity and contaminating Lake Erie as well. - more

   Other News

  • China Isn’t Taking Friend-Shoring Lying Down - more
  • The planet’s population will get to 10.4 billion – then drop. Here’s when we reach peak human - more
  • Maersk Stops All Red Sea Container Ship Traffic - 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
Friday, December 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.69/lb  ($16,950/tonne). Indicators at 4:30 am CST today show nickel trading around $.11/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started today's session just under the 49,200 tonne level. Shanghai nickel dipped overnight to 132,080 y/t. Nickel bulls continue to drive nickel higher, even overcoming a stronger U.S. Dollar this morning. Stay safe out there and have a great Friday. And since we have hit the half way point in the month, let us add, Merry Christmas!
  • Average price of LME traded cash nickel so far this month - $7.40/lb

  Reports

  • Reuters metals morning - Copper steady as dollar under pressure from dovish Fed - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - 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 

    Global nickel surplus widened to 32200 metric tons in Oct - The surplus in the global nickel market grew to 32,200 metric tons in October, up from a surplus of 12,100 tons a year earlier .... - more

    SMM Analysis Of China Stainless Steel Import And Export Data In October And November - China’s stainless steel imports stood at 321,800 mt in October, up 27% MoM but unchanged from last year, ... - more

    LME launches consultation on when to suspend market in volatile trading - The London Metal Exchange (LME) has launched a consultation about when volatile prices should force a suspension of trading, .... - more

    WA miner Panoramic Resources enters voluntary administration as nickel price drops by almost half - Panoramic Resources, the company that operates one of Western Australia's few nickel mines, ... - more

  China EV maker Zeekr unveils fast-charging LFP battery - Zeekr, the premium electric vehicle brand of Chinese automaker Geely, unveiled on Thursday lithium iron phosphate batteries it .... - more

   Other News

  • Billionaire-backed KoBold Metals widens lithium hunt across four continents - more
  • U.S. Embargoed and Sanctioned Countries - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
Thursday, December 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.48/lb  ($16,500/tonne). Indicators at 6:00 am CST today show nickel trading around $.18/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and ended that session just under the 49,000 tonne level. Shanghai nickel rose to 132,130 y/t overnight. Nickel is trading higher today, as the Euro spikes against the U.S. Dollar, adding positive momentum to base metals trading. The drop in nickel prices this year has reportedly claimed its first nickel mine - the Savannah nickel mine in Australia. This mine has been plagued by equipment failure and bad weather, and was put on care and maintenance recently. The same day, media reports that Pacific Nickel is loading its first nickel shipment from its mine in the Solomon Islands. So don't expect a great exodus of nickel mine operations leading to a huge deficit anytime soon. These boom /bust arena's run in cycles and we are now entering in what could be called the "bust" part of the mine cycle. This one will be different than years pasts as the new demand from the EV industry helped accelerate the turn from the boom to bust, and could potentially keep the bust from being as bad as years past. We will have to wait and see the EV demand has changed the rules. Stay safe out there and have a great Thursday!
  • Average price of LME traded cash nickel so far this month - $7.39/lb

  Reports

  • Reuters metals morning - Base metals climb on U.S. rate cut outlook - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • December constructsteel newsletter - more
  • Producer Price Index by Industry: Truck Transportation - more
  • Producer Price Index by Commodity:Externally Threaded Fasteners - more
  • Producer Price Index by Industry: Corrugated Shipping Containers - more
  • November 2023 Fastener Distributor Index - pdf here

   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 

    LME nickel volumes hit highest since March 2022 crisis - Nickel trading volumes on the London Metal Exchange (LME) have climbed to their highest since the fiasco in March 2022 when confidence in the LME's .... - more

    Stainless steel price may be largely stable or drop slightly in December - In November, stainless steel prices experienced an overall weak trend, with the national average price of 304 stainless steel dropping by .... - more

    2024 steel prices: Will volatility continue? - U.S. steel market is likely to see more swings in prices, but perhaps not as severe as recent months - more

    Eyes on Forrest, IGO as nickel’s nightmare year claims Panoramic - Multinational commodity trader Trafigura is in pole position to take control of Australia’s Savannah nickel mine, ... - more

    Australia's Pacific Nickel Mines to load first Ni cargo - Australian producer Pacific Nickel Mines will load its first shipment of 60,000t of nickel ore to mining firm Glencore next week. - more

    Watch: Our top calls for metals in 2024 - video here

   Other News

  • Wildfires Are Unleashing Dangerous Metals From Soil, Study Shows - more
  • Tanker in Red Sea targeted by speedboat gunfire and missiles - sources - more
  • 6 reasons why global supply chains are shifting - more
  • Half of workers left previous job after feeling underappreciated - 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
Wednesday, December 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.50/lb  ($16,525/tonne). Indicators at 5:50 am CST today show nickel trading around $.06/lb  lower. Stockpiles of nickel stored in LME approved warehouses fell slightly on Tuesday and started today's trading session just under the 48,550 tonne level. Shanghai nickel fell to 103,400 y/t overnight. Not a lot of news today. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $7.40/lb

  Reports

  • Reuters metals morning -  Copper dips as China fails to meet investors' stimulus hope - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Recycling Today December 2023 - online here
  • AMT LME COTR analysis 12 Dec.23 - more
  • Consumer Price Index - pdf here

   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 - Copper growth loses steam after U.S. inflation data - Copper prices in London reversed earlier gains on Tuesday as a dollar decline slowed after U.S. inflation data,.... - more

    ING analyst sees nickel pricing remaining subdued - Dutch bank’s commodities analyst Ewa Manthey sees LME nickel pricing in 2024 rarely reaching $17,000 per metric ton - more

     U.S. imports / exports of Nickel - more // U.S. imports / exports of Stainless steel - more // use search bar at top of each page to check your SIC of interest

    Taiwan’s CSC: Steel market to steadily rise next year - The Chairman of Taiwan’s China Steel Corp. pointed out that the steel market is expected to gradually stabilize in the first quarter of next year ... - more

    German steel market expects prices to strengthen, inventory to remain low: survey - German steel traders and producers unanimously expected steel prices to strengthen during December as mills ... - more

   Other News

  • Warren Buffett Selling $28.7 Billion in Stock Rings Alarm Bell Over Economy - more
  • Extreme cold still poses reliability challenge for N. American power generators - NERC - more
  • Global trade to drop 5% this year amid geopolitical headwinds - more
  • 'Soft Landing' or Recession? - 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
Tuesday, December 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.53/lb ($16,595/tonne). Indicators at 5:50 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and started today's session just under the 48,600 tonne level. Cancelled warrants doubled to over 10% overnight. Shanghai nickel fell to 131,800 y/t as well. Nickel is trading lower this morning but getting some positive support from a weakening U.S. Dollar. Some nickel price forecasts for 2024 are being announced and linked below. Other than that, its rather quiet on the news front. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.40/lb

  Reports

  • Reuters metals morning - Copper rises with weaker dollar, tighter supply prospects - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - 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 

   Metal prices will likely rise a tad globally in 2024, says BMI - But World Bank Commodity Outlook forecasts further decline in commodities market - more

  • Fitch Ratings Increases Some Global Metals and Mining Price Assumptions - more
  • Our key commodity forecasts for 2024 - more

   Is the Nickel market poised at a critical juncture between supply and demand? - Nickel is a versatile transition metal with numerous industrial applications, most notably in high-grade steel manufacturing and batteries. - more

   Courtesy AISI - In the week ending on December 9, 2023, domestic raw steel production was 1,697,000 net tons while the capability utilization rate was 73.8 percent. Production was 1,576,000 net tons in the week ending December 9, 2022 while the capability utilization then was 70.6 percent. - more

   Other News

  • Will the man who succeeds Indonesia President Jokowi continue his signature industrial downstreaming policy? - more
  • Glencore in bid for Anglo? Entertaining, but unlikely - more
  • The largest metallurgical company in Europe left the Kazakh business - 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
Monday, December 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.63/lb ($16,830/tonne). Indicators at 6:00 am CST today show nickel trading around $.10/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started this week just under the 48,150 tonne level. Shanghai nickel fell to 132,060 y/t overnight. Nickel is lower this morning, and for a change, the LME seems to be shadowing Shanghai markets for the past week. Reuters is crediting a stronger Dollar but we don't see this and really haven't noticed much in the Dollar/Euro trade spread over the past few sessions. Little bit of news and reports this morning so we leave you to your new week! Stay safe out there and have a great Monday.
  • Average price of LME traded cash nickel so far this month - $7.40/lb

  Reports

  • Reuters metals morning - Most base metals fall on firmer dollar, caution ahead of US data - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Jindal Stainless at COP28 - more
  • IREPAS Short Range Outlook : December 2023 - more
  • Knowing nickel - video here

   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 

    Friday's market review - Copper extends gains on China demand, rate cut hopes - Copper prices extended their rebound on Friday, lifted by firm demand in top metals market China ... - more

    Outokumpu to supply lower - carbon stainless steel to help energy transition - Finland-based stainless steel producer Outokumpu has announced that it will supply Outokumpu Circle Green® ... - more

    Aperam suspends new investments in Brazil due to excess steel imports - Stainless and electrical steelmaker Aperam has suspended the third phase of its investment plan in Brazil,.... - more

    Indonesia files lawsuit with WTO concerning AD case on stainless steel - Indonesia has officially filed a lawsuit with the World Trade Organization (WTO) regarding the EU's imposition of anti-dumping .... - more

  • Indonesia thinks its nickel export ban is working - more

    India Review on Subsidy Taxes for Stainless Steel Welded Pipes from Vietnam - The Ministry of Industry and Trade has just announced receiving information from India's Directorate General of Trade .... - more

    New Abaxx exchange to launch nickel sulphate futures in Q1 2024 - "First trade is now expected over the next few months," said Josh Crumb, CEO of Canadian-listed Abaxx Technologies Inc... - more

    Mining nickel comes with big costs - Massive industrial complexes for nickel mining have transformed an Indonesian island long home to fishing villages and school children. - more

   Other News

  • China's CPI down 0.5% in November, due to energy prices fall - more
  • China Says Biden Battery Limitations Violate WTO Rules - more
  • In world first, China’s LandSpace methane rocket sends satellites into orbit - 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
Friday, December 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.52/lb  ($16,570/tonne). Indicators at 6:00 am CST today show nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today's session just over the 48,250 tonne level. Shanghai nickel rose overnight to 133,820 y/t. Nickel seems to be having a positive week, although it it closed over the $17,000 tonne level last Friday. After dropping hard the first two days of this week, nickel prices have rose the last few, while the daily "official price" continues to hover around the $16,000 tonne level. This implies the battle over the $16,000 tonne level has intensified, but in our opinion, the bulls appear to have seized a momentum shift. We will have to wait and see if that shift has any holding power or gas to fuel it further. Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $7.38/lb

  Reports

  • Reuters metals morning - Copper rises as upbeat China data lifts demand prospects - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Productivity and Costs - more
  • Truck Tonnage Index - more
  • U.S. Imports for Consumption of Steel Products - 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 

    Thursday's market review - LME nickel stocks reach 10-month high as global surplus builds - Nickel stocks in warehouses registered with the London Metal Exchange have climbed to the highest level in 10 months ...- more

    European flat stainless steel prices narrow on lull in demand - The price of stainless steel flat products in Europe narrowed downward in November due to the persistent lack of end-user demand .... - more

    Indonesia’s nickel supply glut, slowing EV demand could ‘jeopardise’ Chinese miners - A deluge of investments into Indonesia’s refining capacity over the past few years has led to an ‘oversupply’, experts say - more

  • Women say their farms were seized to build nickel mines amid Indonesia's electric vehicle boom - more

    UNESID: Spanish steel output decreases in January-September - According to the Spanish steelmakers association UNESID, in September this year Spain\u2019s steel production totaled 1,016,000 mt,.... - more

   OECD: Global economy to grow by 2.7% in 2024, still faces effects of inflation - The global economy continues to face challenges such as inflation and low growth prospects, according to the OECD's November... - more

   Other News

  • Stainless Steel Sheet and Strip in Coils From Japan, the Republic of Korea, and Taiwan: Continuation of Antidumping Duty Orders and Countervailing Duty Order - more
  • Fastenal Sales Up Nearly 4% in November - more
  • Trafigura Triples Dividend to $5.9 Billion After Record Profit - more
  • Israel sharply ramps up Gaza strikes, U.S. alarmed - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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
Thursday, December 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.37/lb ($16,250/tonne). Indicators at 5:50 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses jumped on Wednesday and started today just north of the 48,350 tonne level. Shanghai nickel was basically flat overnight, at 130,540 y/t. After all the volatility yesterday, nickel ended up only gaining around $60/tonne and is up again today. The Euro continues to slide against the U.S. Dollar and is offering base metals no help. News is on the lighter side today, with the woes of Trafigura catching the headlines. Stay safe out there and have a great Thursday!  
  • Average price of LME traded cash nickel so far this month - $7.41/lb

  Reports

  • Reuters metals morning - London copper prices flat as traders await fresh impetus - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - 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 

    Wednesday's market review - Copper prices recover on supply concerns, strong dollar limits gains - Copper prices rose in London on Wednesday after two sessions of falls due to concerns about the ... - more

    Trader Trafigura Targeted by US and Swiss Over Corruption - Trafigura Group and one of its longstanding top executives have been charged over allegations of bribing public officials in Angola,.... - more

  • Trafigura sets aside $127 mln provision for Brazil, US DOJ fine - more
  • Trafigura checked traders didn't collude in Gupta fraud case - document - more
    YC Inox expects recovery in stainless steel market in Q2 2024 - YC Inox Co., Ltd., a stainless steel producer in Taiwan, said that carbon steel is an indicator of the stainless steel market condition.... - more
  • Taiwan YC Inox & Walsin Lihwa forecast market would gradually recover in future - more
    USSA: Russia's stainless steel consumption increases in Jan-Sep y-o-y - According to statistics from the Russian Special Steel and Alloys Consumers and Suppliers Association.... - more

    US looks to shut China out of its battery supply chain - The Biden administration has unveiled plans to exclude Chinese entities from receiving any of the generous tax credits available for investing in ... - more

    EUROMETAL whitepaper: Towards a CO2 neutral steel – The current situation - EUROMETAL have been publishing a whitepaper annually on topics relevant to steel distributors but also to the entire supply chain. - more

   Other News

  • Oil falls to near 5-month low on OPEC+ cut doubts, demand concerns - more
  • Huge Chinese Flotilla Swarms Whitsun Reef - 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
Wednesday, December 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.30/lb  ($16,190/tonne). Indicators at 6:00 am CST today show nickel trading around $.12/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today just over the 46,350 tonne level. Shanghai nickel rose to 130,550 y/t overnight. Nickel fell hard yesterday, so today's bounce is not unexpected. Volatility requires sharp movements in both directions, even in a bear market. Prateek Gupta is asking a London court to unfreeze his personal and business finances, appearing to blame Trafigura in a filed appeal, for the scrap metal he is alleged to have sold them as pure nickel. If for any reason your email to us at info (at) estainlesssteel.com goes unanswered or is being returned, please contact us at estainlesssteel (at) yahoo.com. It's a backup and we check it occasionally. Lot of news again today, so we leave you with it. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $7.42/lb

  Reports

  • Reuters metals morning - Base metals rise on rate-cut bets, China's money supply boost - 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 5 Dec.23 - 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 - Copper falls to 1-week low on China credit rating cut - Copper prices fell to one-week lows on Tuesday after Moody’s cut its outlook on China’s credit ratings to negative from stable,....- more

    Trafigura's lawsuit against businessman Gupta in alleged fraud over nickel - Indian businessman Prateek Gupta asked a London judge on Tuesday to lift an order freezing his personal and business .... - more

  • Trafigura staff knew about nickel fraud, Gupta says in court document - more
  • Trafigura lent nickel receipts to uninvolved firms, Gupta says in court document - more
    Italy’s Arvedi Group plans to sell Turkish asset AST Turkey - Italy’s Arvedi Group planned to sell AST Turkey, a stainless steel service center in Gebze, Kocaeli, to local company Sarıtas Çelik. - more

    Outokumpu extends hot rolling procurement agreement with AM/NS - Outokumpu, a leading stainless steel manufacturer in Europe based in Finland, has reached a long-term extension negotiation ... - more

     Indonesia's nickel output seen at 1.65-1.75 mln T in 2023 - govt official - Dec 6 (Reuters) - Indonesia's output of nickel products in 2023 is expected to reach 1.65-1.75 million metric tons, a government .... - more

    London Metal Exchange studies nickel sulphate contract amid rising EV battery demand -  The London Metal Exchange (LME) is studying a nickel sulphate contract, an exchange official said on .... - more

    Courtesy AISI - In the week ending on December 2, 2023, domestic raw steel production was 1,702,000 net tons while the capability utilization rate was 74.1 percent. Production was 1,589,000 net tons in the week ending December 2, 2022 while the capability utilization then was 71.2 percent.  - more

    China Metals Firms See US Rules Unlikely to Upend Supply Chains - Chinese firms producing and processing battery materials see new US rules aimed at limiting Beijing’s grip on the electric-vehicle industry.... - more

   Other News

  • El Niño continues; positive IOD likely past its peak. - 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
Tuesday, December 5

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.58/lb ($16,720/tonne). Indicators at 5:50 am CST today show nickel trading around $.13/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Monday and started today's session just over the 46,200 tonne level. Stockpiles rose 1,530 tonnes in November, about the same gain as they recorded in October. Cancelled warrants are running in the 6% range. Nickel prices continue to fall, and no one should really be surprised. Here are your average costs for November, as compared with October. Nickel - $7.70/lb compared to $8.28/lb , Ferrochrome - $5.00/lb compared to $4.95/lb, Molybdenum - $18.36/lb compared to $21.18/lb. Lot of news this morning so we leave you with it. Stay safe out there and have a great Tuesday!
  • Average price of LME traded cash nickel so far this month - $7.49/lb

  Reports

  • Reuters metals morning - Base metals largely fall on steady dollar - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Commodities Outlook 2024 - pdf here
  • US Economic Indicators: Durable Goods Orders & Shipments - pdf here

   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 

    Monday's market review - Copper and nickel prices retreat amid reassessment of Fed rate cuts - Copper and nickel prices have taken a step back as investor optimism about potential Federal Reserve... - more

    ING Report - Nickel’s under performance to continue - Nickel has been the worst-performing metal on the LME so far this year with prices down around 45%..... - pdf here

    Russia's Nornickel raises forecasts for global nickel surplus, palladium deficit - "Due to the continuing destocking cycle in the EV supply chain, a greater share ...- more

    Chinese nickel miners in Indonesia face threat from falling prices - A nickel rush in Indonesia by Chinese mining companies over the last decade may come to a halt as falling prices for the metal used .... - more

    European HRC producers continue pushing up prices - The European hot-rolled coil market was largely quiet on Friday December 1, with new offers from producers not sealed in deals, sources told Fastmarkets. - more

    Gupta asks court to lift freezing order in Trafigura nickel fraud case -  Indian businessman Prateek Gupta asked a London judge on Tuesday to lift a freezing order on his personal and business assets ... - more

    Eurofer decries EU delay on Russian steel sanctions - Prolonged delays in enforcing EU sanctions on Russian steel semis contributes to unfair competition and would serve to empower President Vladimir .... - more

   Other News

  • Ford Takes Stake in Indonesia Nickel Project - more
  • Mining Giant Vale Says China Can't Control the Price of Iron Ore - more
  • Multiple attacks reported on shipping by Houthi drones and missiles in Red Sea - more
  • Three measures of US credit card debt - 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
Monday, December 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.73/lb ($17,035/tonne). Indicators at 6:00 am CST today show nickel trading around $.18/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started this trading week just under the 46,250 tonne level. Shanghai nickel fell to 128,460 y/t. Volatility is back as the bears and bulls play tug of war with the trading price. The current battle appears to be over the $17,000 tonne level, but so far, the bulls goal of holding this level appears to be weak and less than successful. Since nickel did fall to the $16,000 tonne level in late November, we see that as the level the bulls may have a better chance of defending. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $7.55/lb

  Reports

  • Reuters metals morning - Copper eases from near-four month peak as dollar climbs - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • Global Economic Indicators: Global Manufacturing PMIs - pdf here

   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 

    Friday's market review - METALS-Strong Chinese data, weaker dollar drive copper to almost four-month high - Copper prices rose to an almost four-month high on Friday, on track for a third week of consecutive .... - more

    FACTBOX - Nickel index providers turn to Indonesia as output grows -  -The China-based Shanghai Metals Market (SMM) on Friday launched several nickel indices for Indonesia, the latest price... - more

   Fitch sees industrial metal prices falling in 2024, gold set to rise -  Industrial metal prices should fall next year as lower global economic growth drags on demand .... - more

    Nickel ore processing plant that will supply Tesla strikes deal to spend $115M in federal funds - Developers of a proposed nickel ore processing plant in North Dakota that would supply electric automaker Tesla.... - more

    Vale Base Metals on the hunt for a new CEO - Deshnee Naidoo is stepping down as chief executive officer for Vale Base Metals (VBM), effective next March 31. - more

    HKEX and LME look to tap ‘incredible opportunities’, restore confidence after winning legal battle over nickel trades - It is time to look forward to the incredible opportunities ahead and the key role that the LME .... - more

    Europe is ‘miles behind’ in race for raw materials used in electric car batteries - EU and UK carmakers have secured just 16% of lithium, cobalt and nickel needed to hit 2030 targets, says study - more

   Other News

  • U.S. Navy Destroyer Shoots Down Three Drones in Red Sea, Pentagon Says - 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
Friday, December 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.56/lb ($16,670/tonne). Indicators at 6:00 am CST today show nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and started the final trading day of the week just over the 46,300 tonne level. Shanghai nickel fell to 129,380 y/t overnight. Nickel is up slightly this morning in otherwise quiet trading - i.e less volatile. Elon Musk delivered some of his stainless steel cyber trucks yesterday, a day after telling major X advertisers to go "f- themselves", and two weeks after his SpaceX rocket exploded after take-off. The cyber truck production is plagued with delays as well. Elon has been good for the stainless steel industry, with free advertisement for the metal. However, there is a vast difference between building things and running social media. One can tell a supplier to go away, but one should not admit that a boycott has the potential to bankrupt the company and then tell those who have temporarily boycotted you, to go screw themselves. Then again, if X goes bankrupt its a mere $44 billion dollar loss for a man who can obviously afford it. Maybe December will be a better month for the man and his companies. It's a new month and the final month of 2023. If you had anything on your goal list to accomplish, or bucket list to experience, you have 31 days to get-er-done. Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $7.70/lb (average November)

  Reports

  • Reuters metals morning - Copper rises on weaker dollar, upbeat China data - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Daily Comments - more
  • ING The Commodities Feed - daily here
  • U.S. Stainless Steel Scrap Prices  - more
  • US Economic Indicators:Industrial Production - pdf here

   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 

    Thursday's market review - Copper near 10-week high, but China data weighs - Copper hovered near 10-week highs on Thursday but weak Chinese manufacturing data and a stronger dollar ..... - more

    LME passes 'the elephant test' in court's nickel ruling - You could almost hear the collective sigh of relief at the London Metal Exchange (LME) after the London High Court dismissed claims .... - more

  • HKEX and LME look to tap ‘incredible opportunities’, restore confidence after winning legal battle over nickel trades - more
  • AMT LME COTR analysis 28 Nov.23 - more
    Italy’s Assofermet on stainless steel: future is uncertain, sustainability is crucial - Assofermet, the association representing Italian distributors of scrap, has issued a press release regarding the outcome .... - more
  • Market contraction weakens Italian stainless service centres: Assofermet - more
    Stainless steelmakers reveal restructure plans - Tens of thousands of tonnes of stainless steel production capacity is set to be affected by the restructuring plans of major steelmakers. - more

   Tang Eng maintains individual negotiation way for Dec offers again - Tang Eng Iron Works Co., Ltd., one of Taiwan's main stainless steel manufacturers, announced today (November 30) that the .... - more

   European prices for long rolled steel continue to rise despite the start of winter - The reason for the increase was limited supply from manufacturers due to a series of planned service stops. - more

   Other News

  • ArcelorMittal stops production of steel pipes in Poland - more
  • Euro zone factory downturn eased a touch in November - PMI - more
  • Tesla delivers about a dozen stainless steel Cybertruck pickups as it tries to fix production woes - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
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

  November 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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