This page is archived news covering the period of November 2021
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Stainless Steel News and Nickel Prices



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Wednesday, November 24

      We will not be posting Thursday (25th) and Friday (26th), but will return to daily updates on Monday. Happy Thanksgiving to all of our readers.

LME nickel prices  Daily Nickel/Stainless Steel Briefing!

  • Nickel closed Tuesday's trading session at $9.22/lb ($20,330/tonne). Indicators at 6:05 am CST today show nickel trading around $.25/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just over the 117,300 tonne level. Nickel ended higher on Tuesday, albeit by only $20/tonne. This is the third consecutive close above the $20,000/tonne level and technically, sends a bullish trading signal. Other technical signals are mixed, but lean toward sell as overbought. Traders apparently are not watching technicals but jumping on for the bullish ride and seeing where it takes them. Reuters is reporting iron ore futures surged yesterday on speculation steelmakers in China are preparing to resume full production (story). This news is bullish for nickel, as is the continued dwindling of LME stockpiles, and a weakening Euro. The WSA numbers from yesterday reflect the difference Chinese steel shut downs meant to world steel production in October. In 'Other News' one of the Chinese provinces has banned the sale of gas and diesel powered cars starting next March. EV anyone? This is a week we Americans reflect on the blessings life has bestowed upon us and offer our Thanksgiving. We wanted to take a moment and thank our sponsors for their support, and in many cases, their continued support of this page. Without this support, the site would no longer exist. Our first sponsor from years ago, Duraloy, is our sponsor this month. We want to thank Duraloy and also wish the company a Happy 100th Birthday. You can watch a short corporate video introducing their company here. Stay safe out there, and enjoy your holiday and weekend. We hope to see you again next Monday.
  • Average price of LME traded cash nickel so far this month - $8.97/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper prices rise on easing woes over China demand, low stocks - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4305/lb
  • SHFE Stainless Steel  Futures (yuan) - 12,215

Stainless steel 21st century metal   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

     Tuesday's market review - Copper prices fall as Powell's nomination boosts dollar - Copper prices eased under pressure from a stronger dollar on Tuesday after U.S. Federal Reserve Chair Jerome Powell was nominated for a second term, reinforcing investor expectations for higher interest rates in 2022. - more

      SunSirs: Stainless Steel Prices Fell Weakly on November 22 - According to the price monitoring of SunSirs, the price of stainless steel fell slightly on the 22nd, with a price of 19,133.33 RMB/ton, down 0.52% from the previous trading day and up 32.41% from the beginning of the year. - more

       October 2021 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 145.7 million tonnes (Mt) in October 2021, a 10.6% decrease compared to October 2020. - more

      State of emergency for Guatemalan town battling nickel mine - Guatemala has decreed a state of emergency in El Estor, an eastern town of mainly indigenous people in conflict with a Swiss-owned nickel mine they accuse of polluting their lake. - more

      PH metals output down, but value up at P121.16 B - The Philippines’ production of metallic minerals were mostly down during the first nine months of the year, but value was higher at P121.16 billion due to continuing increase in prices in the world market.  - more

      Metal fabrication ready to take off in 2022 - Every month Chris Kuehl, economic analyst for the Fabricators & Manufacturers Association Intl. and president of Lawrence, Kan.-based Armada Corporate Intelligence, publishes the Armada Strategic Intelligence System (ASIS), in collaboration with Morris, Nelson & Associates, Leavenworth, Kan. - more
  • Flat-Roll Market Flat Roll's Long Road - more

     IHS Markit US Business Outlook Reflects Inflationary Pressures on Supply Chains - The latest IHS Markit Business Outlook survey indicated that business optimism among US private sector firms weakened in October and fell below the historic series average. - more

     Containers Waited a Record 7.6 Days at L.A. Ports in October - The number of days containers are waiting to be picked up by trucks at California’s neighboring ports of Los Angeles and Long Beach climbed to a record in October, just before officials announced a new plan to clamp down on the backlog in collections. - more

  • Broken Supply Chains Threaten Ruin at a Growing Number of Small Firms - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Is Higher Financial Stress Lurking around the Corner for China? - more
  • Hainan province to ban sales of diesel, petrol cars from Mar 1 - more
  • Treasury Yields, U.S. Futures Fall as Data Awaited: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Tuesday, November 23

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $9.21/lb  ($20,310/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell by over 3000 tonnes for the first time since late September, and started today's session just under the 118,200 tonne level. Cancelled warrants remain just over the 40% ratio. Withdrawals are back to averaging around 1,500 tonnes per day so far this month. Shanghai markets continue to follow the LME's prior trading session and jumped overnight, shadowing LME's prior two day gain. While higher this morning, nickel is already well off an earlier high. Supply Chain Brain has two articles we posted under the Other News section. One is on the shortage of coffee beans and the other is on the shortage of water. Does anyone remember the Thanatorium from Soylent Green? Should the world start running out of coffee, we suggest they better start building Thanatorium's every few blocks. First covid - and now expensive coffee. Enough! It's Thanksgiving so somebody needs to chill on the bad news for a few days! Stay safe out there, enjoy your coffee while you can still afford it, and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.95/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai zinc gains as Glencore maintenance plan fuels supply fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4305
  • SHFE Stainless Steel  Futures (yuan) - 18,620
  • U.S. public debt held by the public and forecast - more
  • Commodity Insights Yearbook 2021 - pdf here

Stainless steel 21st century metal   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

     Monday's market review - Renewed China demand fears weigh on copper - Copper prices came under pressure on Monday from renewed worries about demand in top consumer China, expectations of a more balanced market over the coming months and a stronger dollar. - more

      China's daily crude steel output further decreases in October - China's average daily crude steel output in October 2021 hit a record low since 2018 amid the country's bid to cut carbon emissions and gear up green transformation of the steel industry, according to the Ministry of Industry and Information Technology (MIIT). - more

      Yusco & Tang Eng’s operation performance maintains optimistic - The international nickel price has risen back to the US$20,000/ton level. Supported by the raw material prices of the stainless steel market, Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, were expected to continue to raise their prices, and their operation performance also maintained optimistic. - more

      Mining giant Nornickel proposes doubling 9-month dividend amid high metals prices - Russian mining giant Nornickel has recommended a dividend payment for the first nine months of 2021 at 232.84 billion roubles ($3.2 billion) in total, the company said on Monday. - more

      Courtesy AISI - In the week ending on November 20, 2021, domestic raw steel production was 1,861,000 net tons while the capability utilization rate was 84.3 percent. Production was 1,621,000 net tons in the week ending November 20, 2020 while the capability utilization then was 73.3 percent. The current week production represents a 14.8 percent increase from the same period in the previous year. - more

      Port Congestion Eases in Asia While U.S. Battles Import Deluge - Asia’s largest ports are showing signs that congestion is easing ahead of the holiday season, a potentially positive step for key trade gateways in the U.S. that are still battling an influx of imports. - more

  • The Strange Story Of A $5B Port Hoard - more
      Big 50 Distributors Forecast 2022 Issues & Trends - To say 2021 was tumultuous might detract from just how much more dramatic a business environment we lived with the year prior. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Coffee Supply Crisis Means More Expensive, Bitter Tasting Brews - more
  • Global Water Supplies: The Most Serious Shortage of All - more
  • Treasuries Fall on Powell; Tech Selloff Spreads: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Monday, November 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $9.09/lb ($20,030/tonne). Indicators at 6:00 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell by over 2200 tonnes on Friday and started this week just over the 121,200 tonne level. Nickel closed above a major line of resistance on Friday, breeching the $20,000 tonne level and closing above it for the first time this month. Other base metals are lower this morning, but nickel bulls are desperately trying to hold onto this level for a second consecutive day. Last week was another example of volatility, with trading starting the week around $19,945/tonne, falling below $19,200 at one point on Thursday, hitting the 100 day moving average, bouncing, and closing the week over the $20,000 tonne level. We will be making some changes to a price we post under the Report section. The SHFE SS Futures price we post is the SS2112 contract - while most media outlets quote the SS2002 when they mention the contract price. So next week we will start to follow the latter, which will cause a decrease in the price. Today the 2112 is 18,390 and the 2002 is 17,330. We apologize if this causes confusion, but the current way already has with a few readers. It's a new week and for much of the U.S. a short one. Closed for Thursday to celebrate Thanksgiving, many close for a long weekend on Friday. We will as well, and catch you up on LME activity next Monday. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.93/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Renewed China demand fears weigh on copper - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4296
  • Scrap Monster Bi-Weekly Local Prices US and Canada - more
  • SHFE Stainless Steel  Futures (yuan) - 18,390
  • State Job Openings and Labor Turnover - pdf here
  • State Employment and Unemployment - pdf here

Stainless steel 21st century metal   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

     Friday's market review - Aluminium gains as blast at China smelter fuels supply fears - Aluminium prices climbed on Friday as an explosion at a smelter in China fuelled fears about tighter supplies, while concerns about shortages and low inventories boosted copper prices. - more

     Commodity market in a supercycle; like steel, aluminum: JPMorgan - The commodity market currently is witnessing a supercycle in terms of price performance, said Pinakin Parekh, Metals and Mining and Oil and Gas Analyst at JPMorgan. - more

      China terminates AD review on GCNS’s stainless steel billet & HRC - According to the announcement from the Ministry of Commerce of China (MOFCOM), China decided to terminate the review of anti-dumping (AD) measures and dumping margins on stainless steel billets and stainless steel hot-rolled plates/coils produced by PT Indonesia Guang Ching Nickel and Stainless Steel. Industry (GCNS) from the date of the announcement after examining the firm’s application submitted on September 30, 2021 requesting to withdraw the review. - more

      UN Report: Freight Rates, Shipping Cast Shadow Over Economic Recovery - The United Nations trade and development agency, UNCTAD, is warning that global consumer prices will rise significantly in the year ahead until shipping supply chain disruptions are unblocked and port constraints and terminal inefficiencies are tackled. - more

  • UN Report of Maritime Transport 2021 - pdf here
  • Infrastructure Bill Fuels the Wholesale Distribution Industry - more
      Monday's Motivation Video - US Navy Admiral William McRaven gives a commencement speech at the University of Texas in Austin in 2014. His ten lessons learned in U.S Navy Seal training stunned the audience, became an internet motivational sensation, and led Admiral McRaven to write a book called "Make Your Bed - Little Things That Can Change Your Life and Maybe The World". This speech is posted in numerous You tube locations, but Motivational Hub offers the best presentation. If you have 16 minutes and want to get pumped up, we invite you to watch the edited speech here

   Other News

  • Reuters The Day Ahead - pdf here
  • Americans Buy Goods Over Services as Virus Lingers - more
  • 'Greenflation' a risk for renewable energy, but long-term viability intact - more
  • From Fire to Floods, Climate Change Hits Canada’s Fragile Supply Chain - more
  • Tesla Experiences Outage, Shutting Down Apps and Features of Cars - more
  • TSA Checkpoint Numbers (updated daily) - more
  • U.S. Futures Rise as Deals, China Bets Lift Mood: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Friday, November 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.92/lb ($19,655/tonne). Indicators at 6:00 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today just over the 123,400 tonne level. Yesterday we mentioned that nickel's 100 day moving average was around the $19,150/tonne level. That was tested yesterday, and as soon as it was hit, the market bounced sharply. Bounce probably doesn't describe a $500/tonne jump over a 90 minute period and give it proper justice. What was Mr Rogers word of the day yesterday morning? Shanghai followed London's lead and rose 3% overnight. And even though the Euro has given back the gains it pulled off the last few days against the U.S. Dollar, typically negative on base metals trading, nickel continues to rise this morning.  The forecasts for a nickel market in surplus next year seemed to have taken London traders by surprise earlier this month, but with LME stockpiles down another near 19,000 tonnes already this month, it doesn't appear many are buying the prediction yet. Europe joined a growing list of countries adding import tariffs on Indonesia and India stainless steel, while Indonesia defends itself at the World Trade Organization against a complaint about their nickel ore export ban. Not exactly sure how one nation can tell another sovereign nation that they must export their national minerals, but surely there is more to this than that. Stainless steel prices were edging down this week, but unless nickel falls as fast as it jumped this week, that trend may be over. All eyes are on China and the supply and demand for stainless steel there. As the world's biggest consumer and producer, what happens in China matters to the world.  It's the end of another week and the last 'full' week for US markets. Next week is Thanksgiving and we will join many business' in closing both Thursday and Friday. Stay safe out there and enjoy your weekend!
  • Average price of LME traded cash nickel so far this month - $8.92/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Aluminium jumps amid supply concerns on report of China smelter blast - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4296
  • SHFE Stainless Steel  Futures (yuan) - 18,470
  • BLS Total Factor Productivity in Major Industries - pdf here
  • BLS Occupational Requirements in the United States - pdf here
  • USGS Chromium Statistics and Information Sept 2021 - pdf here

Stainless steel 21st century metal   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

     Thursday's market review - Copper rebounds from lowest in a month on upbeat U.S. data - Copper prices bounced on Thursday, breaking a string of three sessions of losses, as buoyant U.S. data fueled hopes of rising demand amid thin inventories. - more

      EU is imposing tariffs on stainless steel from India, Indonesia and Asia - The European Union has imposed high prices on imported stainless steel products from India and Indonesia from a report found in an article published on Reuters that were sold at artificially low prices. - more

  • Commission imposes definitive duties in three anti-dumping cases to defend EU producers and protect jobs - more

      SunSirs: Stainless Steel Prices Fell Weakly on the 17th - According to the price monitoring of SunSirs, the price of stainless steel fell slightly on the 17th, with a price of 19,533.33 RMB/ton, down 1.68% from the previous trading day and up 35.18% from the beginning of the year. - more

  • China to witness weak domestic steel demand on an overheated property market: ICRA - more
      Jokowi Unafraid Of Lawsuits Over Raw Materials Export Ban - President Joko "Jokowi" Widodo stated that the government will fight any lawsuits against Indonesia's raw material export ban. - more
  • Indonesia attends WTO session on EU lawsuit over nickel export ban - more
      New mine extends nickel-cobalt production in Ravensthorpe - Mines and Petroleum Minister Bill Johnston today officially opened First Quantum Minerals' (FQM) Shoemaker-Levy mine at the company's Ravensthorpe nickel-cobalt operations. - more

      Global eForum - E-Scrap Committee: WEEE recycling experiences ripple effect of “the fight for raw materials” - Latest developments in the ever-shifting but ever-expanding world of electrical and electronic equipment recycling were debated at the BIR E-Scrap Committee webinar broadcast on November 17, with expert insights focusing on two of WEEE’s most important constituents - plastics and metals. - more

    Kabanga Says Tanzania Mine May Answer Elon Musk’s Nickel Plea - The Tanzanian government has a 16% stake in the project, which was previously owned by Barrick Gold Corp. and Glencore Plc. - more

  • 2021 EV Sales Projected To Hit A Whopping 5.6 Million - more

      Supply Chain Strains and Rising Costs Will Pressure Profitability in 2022 - Global nonfinancial corporates appear to be taking supply chain disruptions and soaring cost inflation in their stride. - S&P report pdf here

   Other News

  • Reuters The Day Ahead - pdf here
  • Cleveland-Cliffs Completes Acquisition of Ferrous Processing and Trading Company - more
  • How Farmers Around the World Are Battling ‘Post-Apocalyptic’ Food Crisis - more
  • OSHA Pauses Implementation, Enforcement of Biden Vaccine Mandate - more
  • Europe Stocks Waver as Lockdowns Loom; Bonds Gain: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Thursday, November 18

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.78/lb ($19,360/tonne). Indicators at 6:00 am CST today show nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouse fell on Wednesday and ended that session just under the 124,900 tonne level. While the Euro is slowly recovering against the U.S. Dollar, that is not helping nickel, where short term technical signals are in the sell column. Your 52 week low for nickel was hit one year ago today, when nickel traded for $15,755/tonne. In the last 52 weeks, its high was $21,100/tonne, hit on October 20th. As Mr Rogers might ask "Can you spell volatility?". At present, we show the 100 day moving average is around $19,150/tonne and the 200 day moving average near $18,250/tonne. So it's been a good year for nickel traders, a good year for stainless steel producers and distributors who have been successful in passing on price increases, and could find product, and not so good for end users, who have seen their costs increase, their labor force disappear, and their logistical process break down - at least by some of those who they contract with. Stainless steel indexes in China are slowly falling, showing not only the decline in nickel, but also the slowing in production (see article on China steel output so far this month below). It's Thursday and the down hill slide for the week is on. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.94/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper skids to lowest in a month as investors reduce risk - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4296
  • SHFE Stainless Steel  Futures (yuan) - 18,260
  • US Economic Indicators: Manufacturing Production & Capacity by Major Industries - pdf here
  • US Economic Indicators: Industrial Production - pdf here

Stainless steel 21st century metal   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

     Wednesday's market review - Dollar surge drives down copper prices - Copper prices fell for a third day on Wednesday as expectations of U.S. interest rate rises lifted the dollar to 16-month highs, making metals priced in the greenback costlier for buyers with other currencies. - more

      January to September 2021 Metals Balances - (excerpt) The nickel market was in deficit during January to September 2021 with apparent demand exceeding production by 108.5 kt. In the whole of 2020, the calculated surplus was 84.0 kt. - more

      Russia’s stainless steel imports rise in Jan-Sep y-o-y - According to statistics released by the Russian Special Steel and Alloys Consumers and Suppliers Association (SpetsStal Association), Russia’s stainless steel imports totaled around 323,200 tons in the first nine months of this year, hiking by 15.2% compared to the same period a year ago. - more

      China's steel output in early Nov down 20% on year: CISA - China's daily crude steel output in early November was 20% lower year on year, to be slightly above October's average, according to China Iron & Steel Association. - more

      Russia's Nornickel solves dispute with Botswana, gets compensation - Russian mining giant Nornickel said on Thursday it has settled its dispute with Botswana’s government and BCL Group related to the sale of Nornickel’s assets in Africa, including half of joint venture Nkomati to BCL. - more

      Steel prices dominate manufacturing news in 2021 - Material prices appear to have peaked, but in the metalworking industry is sure what’s next - more

      EU Waste Shipment Regulation falls short of fixing Europe’s waste export crisis - NGOs demand a stronger ban on waste exports, a better alignment with waste treatment hierarchy and fairer shipments for reuse - more

      Container Shipping Rates May Take Two Years to Fall to Normal - Ocean freight rates, which have pummeled retailers and manufacturers throughout 2021, may take more than two years to return to normal levels if past market cycles are any guide. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Empty shelves, higher prices expected as B.C. floods disrupt supply chains - more
  • NAW Survey: 87% of Distributors Support Legal Challenge to Vaccine Mandate - more
  • Why Health-Care Workers Are Quitting in Droves - more
  • More chief executives join the 'Great Resignation' - more
  • Europe Stocks Hold Near Record as Futures Tick Up: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Wednesday, November 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.81/lb ($19,425/tonne). Indicators at 6:00 am CST today show nickel trading unchanged . Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just under the 126,100 tonne level. If you haven't looked lately, the Euro is tanking against the U.S. Dollar (see here) and the pressure finally did nickel's earlier attempt to breech the $20,000/tonne level. It has recovered ever so slightly this morning, and so far this morning, nickel is in a wait and see mode. BHP says the world will need to produce four times the nickel it currently does to keep up with EV demands.  How long will it be before we start hearing the term 'peak nickel'? Quiet news day. Stay safe out there and enjoy your hump day!
  • Average price of LME traded cash nickel so far this month - $8.94/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai aluminium at near 6-month low on higher stocks, weak outlook - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4327
  • SHFE Stainless Steel  Futures (yuan) - 18,480
  • State of Steel - November 2021 - more
  • Manufacturers Sales - graph here
  • Industrial Production: Manufacturing: Durable Goods: Raw Steel - more
  • Personal Income by County and Metropolitan Area, 2020 - more

Stainless steel 21st century metal   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
  • Stainless steel: a lifetime of savings - more

     Tuesday's market review - Firmer dollar drags down industrial metals - Prices of industrial metals eased on Tuesday as the dollar firmed ahead of U.S. retail sales data and on positive sentiment from a virtual meeting between the leaders of the world's largest economies. - more

      Global need for copper, nickel will multiply over next 30 years -BHP -  The global markets will need four times the nickel and double the copper in the next 30 years to facilitate a decarbonised world, a BHP Group executive said on Wednesday. - more

       SunSirs: On the 15th, the Cost Dropped, and the Price of Stainless Steel Continued to Be Weak - According to the price monitoring of SunSirs, on the 15th, the price of stainless steel fell slightly. The spot price was 19,986.67 RMB/ton, down 0.83% from the previous trading day and up 37.49% from the beginning of the year. - more

      Guatemala kicks off consultation at halted nickel project - Guatemalan authorities have kicked off a formal consultation with Indigenous communities living close to the halted Félix nickel project, owned by Compañia Guatemalteca de Níquel (CGN), a subsidiary of Switzerland’s Solway Investment Group. - more

      IHS Markit US Business Outlook Reflects Inflationary Pressures on Supply Chains - The latest IHS Markit Business Outlook survey indicated that business optimism among US private sector firms weakened in October and fell below the historic series average. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Tread Water as Virus Wave Checks Rally: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Tuesday, November 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.88/lb ($19,585/tonne). Indicators at 6:00 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started todays session just over the 127,800 tonne level. Nickel fell sharply yesterday, in concert with a sharp drop in the Euro. Until yesterday, the Euro had been slowly sliding against the U.S. Dollar, while nickel had been holding its own. Most of the news out there seems to be negative for nickel in the near future, while the long term remains bullish. China's steel output came in at a four year low, with stress in the property sector, not bringing anyone to forecast a quick recovery. Federal stimulus money is fueling inflation right now, and the infrastructure bill signed yesterday, will add more pressure. And then there is President Biden's so called, social spending plan, still being considered. And families with kids get their fourth stimulus this week. If you don't think that last one adds up, we have seen estimates that a family with two adults and two children have received an additional $13,400 in stimulus money so far.So if you are hoping inflation is going away soon - don't. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.94/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises as investors cheer Xi-Biden talks - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4327
  • SHFE Stainless Steel  Futures (yuan) - 18,345
  • China Steel Rebar Futures - more
  • Empire State Manufacturing Survey - pdf here
  • China Industrial Production October 2021 - more
  • Ulbrich Economic Update No 18 - pdf here

Stainless steel 21st century metal   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

     Monday's market review - Copper falls on Chinese property market weakness, strong dollar - Copper fell on Monday as data showed weakness in China’s property sector, Chinese coal prices plunged, the U.S. dollar strengthened to a 16-month high and a supply squeeze on the London Metal Exchange (LME) continued to ease. - more

      Column: United States adds nickel, zinc to critical minerals list - Nickel and zinc are now deemed critical minerals by the United States. The U.S. Geological Survey (USGS) is proposing both metals be included in the redrafted critical minerals list. - more

      China ferrous futures slide as sluggish downstream demand weighs - Futures for Chinese ferrous raw materials tumbled on Monday, undermined by big drop in steel production and expectations of more output cuts in coming months, while steel prices were also hurt by stagnant downstream consumption. - more
  • China's Oct daily crude steel output plunges to nearly 4-year low - more
  • Stainless Steel Prices Expected to be Weak - more
       Nickel 28 Announces Restart of Ramu Mine - Nickel 28 Capital Corp. has been notified by Metallurgical Corporation of China, our operating partner at the Ramu mine, that the Ramu nickel-cobalt operation’s mine has re-started production following the two week pause in operations announced on October 27, 2021. - more

      Courtesy AISI - In the week ending on November 13, 2021, domestic raw steel production was 1,856,000 net tons while the capability utilization rate was 84.1 percent. Production was 1,621,000 net tons in the week ending November 13, 2020 while the capability utilization then was 73.3 percent. The current week production represents a 14.5 percent increase from the same period in the previous year. - more

      60 Minutes Episode - What's caused America's supply chain crunch? - video here

  • In bid to free space, San Pedro Bay ports will charge ocean carriers fees for lingering containers - more
  • Los Angeles and Long Beach Port Authorities Postpone New Container Dwell Fees - more
  • Now is the time to shockproof supply chains, with a 3-pronged approach - more
  • Georgia Port Pins Hopes on Rail to Move 80,000 Containers - more
  • Supply Shortages Fueled by Americans' Spending Spree - more

   Other News

  • Reuters The Day Ahead - pdf here
  • The Most Detailed Map of Cancer-Causing Industrial Air Pollution in the U.S. - more
  • Trafigura warns of power outages in Europe this winter - more
  • New method recovers cobalt and nickel from NMC batteries - more
  • New material allows for 10 times faster charging of lithium-ion batteries - more
  • U.S. Futures Dip as Decision on Fed Chair Looms: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Monday, November 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $9.05/lb ($19,945/tonne). Indicators at 6:00 am CST today show nickel trading around $.11/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started the week, just under the 129,600 tonne level. Nickel peeked its head above the $20,000 tonne level for a few moments on Friday, before closing just under that level. It's trading lower this morning, following a trend Shanghai markets set overnight. Interesting story under 'Other News' for those of you having trouble finding employees. We have known for years there would be some serious shortages of employees when the baby boomer's retired, in mass. The pandemic has exacerbated this, by encouraging many to retire earlier than originally planned. Goldman figures that accounts for up to 60% of the missing employees, and with resignations in September setting another all time record high, their departure is being felt. Today is the halfway point of November, and for those of us in the States, a two day Thanksgiving holiday next week, shortens the remainder of the month. Stay safe out there today and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.93/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper eases as dollar near 16-month high on rate hike expectations - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4317
  • SHFE Stainless Steel  Futures (yuan) - 18,815
  • Job Openings and Labor Turnover – September 2021 - pdf here
  • U.S. Economy in a Snapshot - more
  • Worldsteel Sustainable Steel - pdf here

Stainless steel 21st century metal   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

     Friday's market review - Copper prices tick higher as dollar loses ground - Copper prices rose on Friday and logged their second weekly gain as lower U.S. consumer confidence knocked the dollar from its highest level in 16 months. - more

      Indonesia's antitrust agency investigates nickel smelters - Indonesia’s anti-monopoly agency is investigating whether domestic nickel smelters and a surveyor they hired engaged in unfair business practices that resulted in poor pricing of nickel ore, it said on Friday. - more

      ED&F Man and Straits point fingers in US$284 million metals fraud trial - Broker ED&F Man and Singapore commodities trader Straits wrapped up a metals fraud trial on Friday, blaming each other after warehouse receipts for nickel stored in Singapore worth US$284 million were discovered to be fraudulent. - more

      Nickel Ore Inventories at Chinese Ports Surged 190,000 wmt - The nickel ore inventory at Chinese ports grew 190,000 wmt from a week earlier to 9.24 million wmt as of November 12. Total Ni content stood at 72,500 mt. - more

      Only US Aluminum Shipments Increase in October - Steel shipments declined in both the U.S. and Canada and aluminum shipments declined in the Canada as well. The only growth was a 2% increase in U.S. aluminum shipments. - more

      Zimbabwe poised to become major steel producer - Zimbabwe will soon become one of the biggest steel producing countries in the world after the establishment of the new world class iron and steel plant at Manhize in Mashonaland West province next year. - more

  • Note - part of this project is a ferrochrome plant with 500,000 tons annual capacity
  • Mnangagwa between a rock (of coal) and a hard place as he looks to turn Hwange into a giant coal hub - more

    Northvolt claims first battery cell produced from ‘100% recycled nickel, manganese, and cobalt’ - Northvolt announced that it has produced what it claims is the first battery cell with a cathode built “100% from recycled nickel, manganese, and cobalt.” - more

      Trucking Profits Soar as Their Customers Grapple With Shortages - While a global supply chain crisis is crimping sales for companies from Apple Inc. to Caterpillar Inc., transportation firms are riding an unprecedented profit boom. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Several of Russia's dirtiest rivers are located near the border to Norway - more
  • Goldman just figured out why the labor shortage will last for a long time: 60% of the missing workers retired, many for good - more
  • European Stocks Extend Winning Streak; Bonds Gain: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Friday, November 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.97/lb ($19,765/tonne). Indicators at 6:15 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell by over 2200 tonnes on Thursday and started today just under the 130,300 tonne level. All base metals are trading quietly this morning, with most slightly lower. The jump in U.S. inflation numbers earlier this week, have traders betting on an increase in interest rates, sooner than later, and this has helped the U.S. Dollar trade higher against the Euro. Typically a stronger Dollar, hurts London based base metals trading price, but nickel has held its own this week. Wood Mackenzie is reporting (story below) that the power cuts in China have cut 850,000 tonnes of stainless steel output there. That's a whole lot of stainless - and reduces the need for nickel by about 111,000 tonnes per the Woods report.  We will have to wait and see how this washes out in 2022. In the 'you lived to see it' news, China, Russia and the U.S. joined forces to encourage the Taliban to drop its ties to terrorism. Covid cases are starting to show evidence of rising again. New cases in the U.S. fell to  71,500 (7 day average) on the last day of October. That figure is back up to near 76,800. Based on the states in trouble again, the cold weather forcing people inside and encouraging the spread theory, may hold some water. One would think with the number of Americans that are vaccinated, plus those who have been sick and built up some natural  immunity, that the population of the US should be at herd immunity. We don't hear that term used much anymore, do we? Here are some discouraging numbers. The top U.S. states in immunization rates, and their new cases percentile in the past week over the prior. #1 Massachusetts - 81.48% immunized and 24.79% increase in past week #2 Vermont - 80.7% and -10.3% #3 Pennsylvania - 80.2% and +37% #4 Connecticut - 80.2% and +26.6% #5 Hawaii - 79.6% and -23.9% #6 New Hampshire - 79.3% and +18.3%  #7 Rhode Island - 79.2% and +3.2%. Looking at highly immunized nations, the cold weather theory gives more evidence. Norway and Iceland are at 78% and 79% vaccinated rates (in the top 20 of the world), but both are seeing their cases spike to all time record highs. There was a time not so long ago, when 1,000 American dieing per day would have horrified us. Now the fact that ten times more Americans are dieing per day from covid than are dieing in car crashes no longer seems to alarm us, and in fact, annoys many people. More Americans have died from covid in the past 22 months, than soldiers died during the five years of the American Civil War (no other war comes close). China is getting so frustrated in their inability to get to zero new cases, they are now offering rewards to their citizens, to help them find those spreading the disease and starting new outbreaks. We suspect they are fighting a losing battle - but give them credit for not surrendering to the virus and continuing the fight. For you survivors, it's the weekend. Stay safe out there and have a relaxing and enjoyable few days off.
  • Average price of LME traded cash nickel so far this month - $8.92/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper falls as dollar firms on quick rate-hike hopes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4317
  • SHFE Stainless Steel  Futures (yuan) - 18,815
  • European Economic Forecast 2021 - pdf here
  • Moody's Weekly Market Outlook - pdf here

Stainless steel 21st century metal   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

     Thursday's market review - Copper skips higher on Evergrande payment and tight supply - Copper prices rebounded on Thursday after debt-burdened China Evergrande Group again dodged a default, raising hopes of government support for a property sector that can drive significant demand for metals. - more

      China power curbs cut 7% of annual aluminium capacity - Wood Mackenzie - (excerpt) The power restrictions have cut 850,000 tonnes of stainless steel melt output and 35,000 tonnes of nickel in nickel pig iron (NPI) output, and reduced 2021 nickel consumption by 111,000 tonnes, Wood Mackenzie said. - more

      SunSirs: On the 10th, Both Supply and Demand Were Weak, and the Price of Stainless Steel Fell Slightly - According to the price monitoring of SunSirs, on the 10th, the price of stainless steel fell slightly. - more

      BHP hungry for more nickel, copper - BHP is looking at investing in additional early-stage development projects as the company aims to grow its copper and nickel portfolio. - more

      SMU Founder John Packard Discusses Domestic & Foreign Steel Pricing - Steel buyers are “confused” as are some traders as to what deals are being offered into the hot rolled market right now. - more

      Nippon Steel raises stainless steel sheet prices due to rising raw materials costs - Nippon Steel, the largest steelmaker in Japan, announced on November 9 that it decided to raise the price of nickel-based cold-rolled stainless steel sheets used in kitchen equipment and automotive components by 10,000 yen per ton, an increase of around 2%, from the purchase contract in November. - more

    SK on started the manufacturing of the world’s first ‘Dream Battery’, starting the era of ‘9-1/2-1/2 batteries’ - SK on announced on the 10th that they will mass-produce the world's first ‘9-1/2-1/2 Battery(or ‘Nine half half’)', which is considered to be the best specification for mid- to large-sized lithium-ion batteries, from next month. - more

      CSX, Norfolk Southern say labor constraints are affecting service - Labor constraints and rising attrition are impacting network performance on East Coast railroads, executives said on Q3 earnings calls last month. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Rise of the Robots Speeds Up in Pandemic With U.S. Labor Scarce - more
  • What the New OSHA-Mandated Vaccine Requirements Really Mean for Large Employers - more
  • Stocks Mixed, Futures Steady as Treasuries Slip: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Thursday, November 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.96/lb  ($19,745/tonne). Indicators at 6:00 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session, just over the 132,500 tonne level. Nickel gained yesterday and considering the Euro has been hammered the last few days, the gains are stronger than the traded price reflects. The 50 day moving average continues to move higher and are currently at yesterdays trading low - $13,330/tonne. Moving averages give a far better idea of the trend in trading, and remove the daily choppy up and down movements. The 50 and 100 day moving averages are both trading at 2021 highs. The 30 day is trading around the $19,200 and is off earlier highs set in September and October.  The 30 day shows the market, while incredibly volatile at times, has been stuck along a horizontal trend line since mid September. It's Thursday and on the news cycle, this day of the week can typically be feast or famine. Today is a little light, so we added a bunch of articles to the 'Other News' section that might be of interest to someone. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.91/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai tin hits 2-week high as Myanmar COVID-19 surge threatens supply - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4317
  • SHFE Stainless Steel  Futures (yuan) - 19,000
  • Consumer Price Index - pdf here
  • Current US Inflation Rate - more
  • Truck Tonnage - graph
  • November constructsteel newsletter - more

Stainless steel 21st century metal   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

     Wednesday's market review - Copper dips as inflation rises in the U.S. and China - Copper edged lower on Wednesday as high inflation readings in China and the United States added to concern over slowing economic growth and central bank tightening. - more

       China's Oct steel output declines for sixth straight month, hits 44-month low: CISA - China's daily crude steel output has declined for a sixth straight month in October, falling 4.9% on the month and hitting a 44-month low, the China Iron & Steel Association said Nov. 9. - more

  • Commodities update: record fall in Chinese steel production behind fall in iron ore prices - more
      Robust demand and low iron prices to boost steel margins in second half of fiscal 2021-22 - With demand uptick stemming from the government’s thrust on infrastructure, mainly in the rural markets, capacity utilisation for medium and small long steel product manufacturers is expected to improve in the coming quarters, said ratings agency ICRA in its report. - more
  • Competition between Indian, Chinese metal gamers to accentuate in export markets: ICRA - more
      Egypt's Sawiris looks to battery metals, awaits nod on gold concessions - Egyptian businessman Naguib Sawiris said on Wednesday he was looking to diversify his interests into sought-after battery metals and was confident that five new gold prospecting and mining concessions in Egypt would soon be approved. - more

      US adds nickel, zinc to draft critical minerals list, drops potash - The US Geological Survey (USGS) has added nickel and zinc to its proposed list of 50 ‘critical minerals’ – defined as those essential to economic or national security and with a supply chain vulnerable to disruption – while four others, including potash, have fallen off the draft 2021 list. - more

      Pandemic Pushes Just-in-Time Supply Chain Model to the Brink - The U.S. supply chain is based largely on a platform known as “just in time,” where goods are delivered to retailers in some cases hours before they are needed. - more

  • Just-in-time and safety stock require a careful balance - more
  • The Biggest Kink in America’s Supply Chain: Not Enough Truckers - more
  • Asia's dry bulk pounded by easing congestion, falling commodity prices - more
  • Snarled Supply Chain Is Making U.S. Warehouse Shortage Worse - more
  • Supply chain relief by way of partial lift of steel and aluminum tariffs - more
  • Roll Back Trump-era Tariffs on Steel and Aluminum May Have Hidden Consequences for Supply Chains - more
  • Behind the global supply chain crisis is a simple case of hubris - more

   Other News

  • Reuters The Day Ahead - pdf here
  • WHO looking forward to oral, nasal Covid vaccines - more
  • America's Fastest-Selling Used Vehicles Are Electrified - more
  • US: Tesla Sold More Cars Than Mercedes-Benz Through September - more
  • Stocks Steady, Futures Up With Inflation in Focus: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Wednesday, November 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.80/lb   ($19,410/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just over the 133,000 tonne level.  Nickel closed lower yesterday, but higher than it ended last week.  While the overall trend for nickel appears to remain positive, the short term trend is lower, and mid term mixed. Multiple stainless steel indexes we follow in China show an acceleration in price drops there. This indicates a further slowing in their manufacturing. Lot of reports and articles below. So yesterday we linked to a Reuters article about a forecast by Antaike on 2022 nickel prices. For some reason most of the article disappeared after we linked to it, so here it is (here). Forecasting is the nightmare of every analyst and whoever is closest to an annual price forecast gets to gloat for five minutes and then they start sweating the forecast they made for the next year. So Antaike, being a Chinese analyst, might have an edge in forecasting you might say. Let's look at how they have done so far for this year. If you read the article above, you will see their forecast for this year was $18,500/tonne. Pretty good, huh? Not so fast, my young Padawan. What did they forecast for 2021 'before' 2021 actually started? Forecasts aren't really forecasts 'after much of the fact is past' are they? About one year and one week ago, Antaike published their nickel forecast for this year (article here). How did they do? Well, you decide. Price forecast for 2021 - $13,800/tonne. Global balance forecast of nickel production/consumption - 68,000 tonne 'surplus'. In the world of baseball, this could best be described as a "swing and a miss". Surplus - nada. And the lowest 'monthly' price average we have seen this year was $16,461/tonne in March. Last month it averaged $19,420/tonne. $22/tonne more than September. All of the analysts were wrong last year, and our Chinese friends are human as well, so we only post this to remind our readers to take analyst forecasts with a grain of salt;.... which is forecast to increase in value next year  ... an actual grain of salt that is. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $8.91/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper slips as China inflation clouds economic growth outlook - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4345
  • SHFE Stainless Steel  Futures (yuan) - 18,600
  • BDRY Bi -weekly Report - pdf here
  • Producer Price Index by Industry: Truck Transportation - graph here
  • Producer Price Index by Commodity: Externally Threaded Fasteners - graph
  •  Producer Price Index by Commodity: Steel Wire, Stainless Steel  - graph
  • Producer Price Index by Commodity: Corrugated Paperboard in Sheets and Rolls - graph
  •  Producer Price Index by Industry: Corrugated Shipping Containers for Paper and Allied Products - graph
  • Producer Price Index by Commodity: Stainless and Other Alloy Steel Scrap - graph
  • NAB China Economic Update – November 2021 - pdf here
  • Fastener Distributor Index  - pdf here
  • US Producer Price Index - pdf here

Stainless steel 21st century metal   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

     Tuesday's market review - Copper skids on worries over Chinese property crisis - Copper prices retreated on Tuesday on concerns that a deepening debt crisis in China’s property sector will curb demand. - more

      CHART: Lagging nickel price defies anemic supply pipeline - Nickel prices have lagged the base metal complex this year as China’s clampdown on emissions from heavy industry crimps the stainless steel market, which is still responsible for the bulk of demand. - more

      SunSirs: On the 8th, the Price of Stainless Steel Rose and Fell Mixed - According to the price monitoring of SunSirs, on the 8th, the spot price of stainless steel was 20,333.33 RMB/ton, down 0.33% from the previous trading day and up 40.72% from the beginning of the year. - more

      Exclusive: China's Metals Output in October - (excerpt) According to SMM data, domestic refined nickel output stood at 14,500 mt in October, up 1.48% or 212 mt month-on-month. - more

      Vale Indonesia expects lower nickel matte production next year - official  -  PT Vale Indonesia INCO.JK said on Wednesday its nickel matte production is expected to fall as much as 13% next year compared to normal levels, as furnace rebuilding delays brought about by the COVID-19 pandemic continue to impact output. - more

      Global eForum - Stainless Steel & Special Alloys Committee: Circular economy success depends on “fluid global market” for recyclables - Joost Van Kleef of Netherlands-based Oryx Stainless has added his own voice to recent criticism of “ill-conceived” regulatory proposals that threaten to restrict movements of recyclable materials. - more

      2021 Third Molybdenum and Steel International Forums 14-15 October 2021 - Good afternoon, Ladies and Gentlemen. As the International Molybdenum Association's (IMOA) new Secretary-General I would indeed like to thank Jinducheng, the China Stainless Steel Council (CSSC) and the China Nonferrous Metals Industry Association (CNIA) Molybdenum Branch for the opportunity to give Opening Remarks at the 14th China Tungsten, Molybdenum, Vanadium and Titanium Industry Annual Conference in 2021 here in Jilin which is run in conjunction with the 3rd Moly-High End Steel Forum of which IMOA is also a proud co-organizer. - more

      Minnesota lets public weigh in on adequacy of mining rules - Minnesota regulators began accepting public comments Tuesday on whether the state's regulation of nonferrous mining would provide sufficient protection against environmental damage to the Boundary Waters Canoe Area Wilderness. - more

      5 Steps to Boost Supply Chain Resilience - Disruptions — from weather events to trade wars to the coronavirus pandemic — have wreaked havoc on supply chains over the past several years. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Fall With Stocks Ahead of Inflation Report: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Tuesday, November 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.91/lb ($19,640/tonne). Indicators at 6:00 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just under the 134,200 tonne level. Nickel rose yesterday but the bears can find comfort in another forecast for 2022 of lower prices and surplus nickel. Antaike is forecasting an average of $7.71/lb next year and a 45,000 tonne surplus. Technical signals remain mixed for the short term. Australia wants the U.S. to know it is well positioned to supply our newest critical mineral - nickel. As compared to who - our next door neighbor Canada? Another port starts charging shipping companies for containers sitting in their ports. And your canned whatever could be getting more expensive - again. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.90/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper edges higher on renewed concern about scarce supply - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4345
  • SHFE Stainless Steel  Futures (yuan) - 19,200
  • Weekly Bulk Report - Week 44 - more
  • Mineral Industry Surveys Chromium August 2021 - pdf here
  • Mineral Industry Surveys Molybdenum August 2021 - pdf here

Stainless steel 21st century metal   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

     Monday's market review - Copper up on robust China data and falling inventories - Copper prices rose on Monday as strong export growth data from top consumer China, falling inventories and the passing of a $1 trillion U.S. infrastructure bill boosted sentiment, though gains were capped by concern over Chinese demand. - more

      Nickel prices seen falling in 2022 due to surplus - Antaike - Nickel prices in 2022 are seen falling from this year's multi-year highs, Chinese research house Antaike said on Tuesday, with the global market expected to swing into a surplus as production recovers from pandemic disruptions. - more

      Australia well positioned to supply critical minerals to US - Washington| Australia is well positioned to benefit from an update to a list of “critical minerals” in the US, so-called because they are central to vital industries such as energy, defense and electronics. - more

      Courtesy AISI - In the week ending on November 6, 2021, domestic raw steel production was 1,841,000 net tons while the capability utilization rate was 83.4 percent. Production was 1,611,000 net tons in the week ending November 6, 2020 while the capability utilization then was 72.8 percent. The current week production represents a 14.3 percent increase from the same period in the previous year. - more

  • US steel groups praise House passage of infrastructure bill - more

      Port of Tacoma Terminal Imposes ‘Long Stay’ Charge for Lingering Import Containers - A private container terminal at Washington’s Port of Tacoma has started charging an extended dwell time fee for containers lingering in the terminal. - more

  • High Import Prices along the Global Supply Chain Feed Through to U.S. Domestic Prices - more
  • Roads, Transit, Internet: What's in the Infrastructure Bill - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Aluminum makers warn power cuts in China could cause magnesium shortages - more
  • Moderna Finds That Creating a Covid Vaccine Was the Easy Part - more
  • Treasuries Climb on Fed Speculation; Stocks Steady: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Monday, November 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.79/lb ($19,385/tonne). Indicators at 6:00 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started the new week just under the 135,900 tonne level. Nickel's 100 day moving average sits at $19,050/tonne and so far, remains untested. Cancelled warrants are still in the 47% range. LME nickel stockpiles have fallen on all six of the reporting days this month, at an average of 1,195 tonnes per day. If you want to see further evidence of a potential global slowdown, check out the Baltic Dry Index (link along bottom of news). Congress passed President Biden's bi-partisan infrastructure bill on Friday. Hey bridge builders! Use stainless supports - your bridge will last longer. It's a new week. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.90/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper steadies though China demand prospects weigh - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4335
  • SHFE Stainless Steel  Futures (yuan) - 19,400
  • China Steel Rebar Price Graph - more
  • NYSE American Steel Index - more
  • United States Imports of Nickel - chart here
  • US and Canada SS Scrap Prices updated - more
  • Olympic Steel Reports Record Third-Quarter 2021 Results - pdf here

Stainless steel 21st century metal   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

     Friday's market review - Aluminium buckles under pressure from higher coal output - Aluminum prices fell to their lowest in more than three months on Friday as rising coal output in China eased concerns over supply of the metal from smelters powered by the fossil fuel. - more

     When Will Stainless Steel Prices Trend Higher? - Stainless steel futures have fallen 19% until now after hitting a record high of 22,050 yuan/mt on September 22 since its listing. - more

       Global crude steel production crashes to 144.4 million tonnes on energy crunch - Global crude steel production declined in September, marking the fourth straight month of month-over-month declines. - more

      Taiwan’s Yieh Hsing & Walsin Lihwa to benefit from new-high stainless steel wire rod export prices - The export price of stainless steel wire rods in Taiwan has surged to a new high in the past seven years, and the price in the first three quarters has also surged by NT$15,500 compared to the same period a year ago. - more

      Solway Investment Group’s Morowali nickel smelter project teams up with Indonesian state-owned enterprise - PT Aquila Cobalt Nickel (ACN), a subsidiary of the Swiss-based Solway Investment Group, signed a Sales & Purchase Agreement with the state-owned electricity company PT PLN for the supply of 200 MVA to its Aquila Project. - more

      Sumitomo Metal Mining doubles annual profit forecast on surging metal prices - Japan's Sumitomo Metal Mining Co Ltd more than doubled its annual profit forecast on Monday thanks to surging prices of copper and nickel as well as a one-off gain from selling its stake in the Sierra Gorda copper mine in Chile. - more

      Battery boom has Sherritt CEO betting on Cuban nickel expansion - Sherritt International Corp.’s new boss sees the electric-vehicle revolution stretching all the way to Cuba, with the Canadian miner planning to boost output of battery-grade nickel and cobalt. - more

      U.S. imports of Stainless steel wire increased 26.01 percent from $110.94 million to $139.79 million through the first nine months of 2021 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  • U.S. exports of Stainless steel wire totaled $14.14 million in September, a change of 55.01 percent from the same month one year ago. The change from one month ago was -11.70 percent. - more
  • U.S. imports of Misc. stainless steel bars, rods totaled $37.4 million in September, a change of 45.07 percent from the same month one year ago.  - more
  • U.S. exports of Misc. stainless steel bars, rods totaled $30.02 million in September, a change of 57.65 percent from the same month one year ago. - more
  • Check your item of interest at US Trade Numbers - use the search bar here
      Nickel Inventory in Chinese Bonded Zone Accumulated Slightly - The SHFE/LME nickel price ratio did not provide the opportunity to import cargoes this week. - more

      Fifty Years in Idle Time Seen for Trucks at Two Major U.S. Ports - Trucking trips originating around the U.S.’s busiest ports are showing massive increases in idle time, another sign of the supply chain logjams plaguing American transport hubs. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China iron ore futures report fourth weekly loss on weak demand - more
  • Stocks Steady Ahead of U.S. CPI; Treasuries Dip: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Friday, November 5

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.72/lb ($19,225/tonne). Indicators at 7:00 am CST today show nickel trading around $.03/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today's session just under the 137,200 tonne level. Lot of news today, mostly about, or from, China. Nothing earth shattering, but a lot of statistics for those of you who like to crunch the numbers. For those who do not, the main number published is stainless steel production in China is up over 8.6% for the first nine months of 2021, compared to the same period of 2020. Consumption in that country is up over 10%, helping explain where the rising imports from Indonesia are going. We leave you with the news below. Stay safe out there and have a relaxing and enjoyable weekend! 
  • Average price of LME traded cash nickel so far this month - $8.94/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai aluminium hits 4-mth low as rising coal output eases supply fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4335
  • SHFE Stainless Steel  Futures (yuan) - 19,510
  • Outokumpu January–September 2021 interim report - pdf here
  • US Productivity and Costs - pdf here
  • Moody's Analytics Weekly Market Outlook - pdf here
  • Global Economic Indicators: Global Manufacturing PMIs - pdf here
  • September 2021 Trade Gap is $80.9 Billion - more
  • U.S. International Trade in Goods and Services September 2021 - pdf here
  • U.S. Imports for Consumption of Steel Products September 2021 - pdf here

Stainless steel 21st century metal   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

     Thursday's market review - Aluminium prices plunge as China ramps up coal production - Aluminium prices fell sharply on Thursday as China said its coal output had shot up and would continue to rise, helping to ease a power crisis that has forced smelters to reduce production. - more

       SunSirs: On the 3rd, the Power Limit Was Relaxed, and the Price of Stainless Steel Fell Slightly - According to the price monitoring of SunSirs, on the 3rd, the price of stainless steel was currently quoted at 20,733.33 RMB/ton, down 2.51% from the previous trading day and up 43.38% from the beginning of the year. - more

       EU stainless steel buyers concerned about tight supply - Scarcity of material and high prices will remain key features of the European stainless steel market, in the last few months of 2021. - more

      Shanghai stainless steel futures fall on prospects of higher output - Chinese stainless steel futures fell more than 2% on Thursday as traders anticipated higher production this month after some key producing regions relaxed power curbs. - more

      China’s crude stainless steel output rises in Jan-Sep y-o-y - According to statistics from the Stainless Steel Branch of China Special Steel Enterprises Association, China’s crude stainless steel production totaled around 23.83 million tons in the first nine months of this year, rising by 8.64% compared to the same period a year ago. - more

      Rosstat: Russia’s stainless production rises Sep y-o-y - According to statistics from the Russian Federal State Statistics Service (Rosstat), Russia’s stainless steel production totaled around 20,700 tons in September, rising by 34.1% compared to the same month a year ago. - more

      China Weekly Inventory Summary and Data Wrap - This is a roundup of China's metals weekly inventory as of November 5. - more

      Iron Ore Back Below $100 as China’s Steel Curbs Roil Market - Iron ore futures traded back below $100 a ton on shrinking steel output in China and signs economic growth is facing mounting headwinds. - more

      China Ferromolydenum Output Dropped 410 mt MoM in October, Likely to Decline Further in November - The domestic ferromolybdenum output totalled about 13,950 mt in October, down 410 mt or 2.86% on the month. - more

      Nickel Asia profit jumps 168% - (excerpt) During the period, Nickel Asia sold a total of 14.4 million wet metric tons (WMT) of nickel ore at the weighted average realized price of $27.96 per WMT, as against 14.0 million WMT at $20.10 per WMT in January-September 2020. - more

      Standing issues predominate at Minnesota mine hearing - A challenge of an environmental rule that allows for mining near Minnesota's Boundary Waters Wilderness brought the focus in on the state's Environmental Rights Act. - more

    Mazda, Tesla, and Jeep Have Re-Written the Rule Book In the U.S. Auto Industry - Mazda, Jeep, and Tesla have upended what we call luxury, premium, and performance. It’s time for shoppers and the automotive media to take notice. - more

      Labor-law attorneys suggest employers should prep for compliance with OSHA vaccine, testing mandates - Although legal challenges already emerged against an OSHA rule requiring large employers to either mandate Covid-19 vaccines for employees or test employees weekly, labor-law attorneys recommend employers prepare to implement the policy. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Fastenal's October Shows Core Demand Continues to Accelerate - more
  • Pfizer Develops Covid Pill That Cuts Hospitalizations and Deaths by 89% - more
  • Stocks, Dollar Rise as Focus Turns to Jobs Data: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Thursday, November 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.67/lb ($19,110/tonne). Indicators at 6:00 am CST today show nickel trading around $.14/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that day just under the 138,100 tonne level. LME fell sharply again yesterday, on news that the US Fed could not raise interest rates as quickly as the Fed had hoped. Nickel is back up this morning, as traders realize lower interest rates are the drug that keeps them profitable. Stockpiles continue to fall, and so far, have fallen by 4,344 over the past three days. Cancelled warrants remain in the 47% range. One analyst tells Kitco below, that nickel demand may increase by twenty fold. But never fear. A group of well known analysts, polled by Reuters just weeks ago, have determined that all is well and nickel will return to surplus in 2022. We started the year with 247,980 tonnes and the drop of almost half this year, is merely a mirage. The fact, see below, that new Ford EV's are sold out before they even start production, is of little concern to future battery demand and nickel demand. And this in a country not yet hip on EV's. Unless China manufacturing continues to slip, we have a hard time swallowing the surplus theory. On the other hand, if China bounces back - watch out! Stay safe out there and have a great Thursday!
  • Average price of LME traded cash nickel so far this month - $8.96/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises as Fed plans no immediate rate hike - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4335
  • SHFE Stainless Steel  Futures (yuan) - 19,510
  • Acerinox Q3 2021 Results Presentation - pdf here
  • Employer-Reported Workplace Injuries and Illnesses (Annual) - pdf here
  • US Economic Indicators: Durable Goods Orders & Shipments - pdf here

Stainless steel 21st century metal   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

     Wednesday's market review - Copper edges lower on uncertainty ahead of Fed meeting - Copper prices slipped on Wednesday on uncertainty ahead of a U.S. Federal Reserve meeting expected to start reducing stimulus and worries over declining economic growth in China. - more

      Unclear mills' prices lead quiet stainless steel market in Taiwan - Although the plants' prices of November were announced last week, the stainless steel market reaction yesterday was still slow due to the unclear demand from downstream buyers and the actual execution price is unknown. - more

      Nickel and cobalt may need 20-times current production to meet demand - Pallinghurst Group - To meet anticipated battery material demand, Sean Thijsse at Pallinghurst Group has seen multiples as high as 20-times current demand for graphite, nickel and cobalt; and lithium with multiples as high as 40-times current demand. - more

      China's nonferrous group suggests commercial reserves for cobalt, nickel - media - China should improve its capability to secure nickel and cobalt resources and set up commercial reserves for the metals, the Shanghai Securities News (SSN) reported on Thursday, citing an official with the China Nonferrous Metals Industry Association. - more

      Sumitomo says Madagascar's Ambatovy produced 19,000 T of nickel in H1 - Japanese trading house Sumitomo Corp said on Thursday its Ambatovy project in Madagascar produced 19,000 tonnes of nickel in the April-September period and it stuck to its earlier plan of producing 40,000 tonnes of the metal for the year to March. - more

      Sherritt announces planned Cuban nickel expansion - Toronto-listed Sherritt International has announced an expansion strategy with its Cuban partners to capitalise on the growing demand for high-purity nickel and cobalt, driven by the accelerated adoption of electric vehicles. - more

       AISI Releases October SIMA Imports Data - Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of October totaled 2,396,000 net tons (NT)*. - more

      Indonesia signals about-face on COP26 zero-deforestation pledge - Indonesia's environment minister has dismissed as "inappropriate and unfair" a global plan to end deforestation by 2030, days after her country, home to a third of the world's rainforests, joined 127 other nations in making the deforestation pledge. - more

     Ford: E-Transit Is Sold Out, Production Begins Soon - By the way of releasing U.S. sales results for the month of October, Ford announced today that the upcoming all-electric Ford E-Transit van is "sold out." - more
  • Ford F-150 Lightning Reservations Exceed 160,000 - more

      Trucking can't solve the 80K driver shortage on its own: ATA - The truck driver shortage is at its highest point since the American Trucking Associations began monitoring it in 2005. - more

  • Maersk Sees Global Shipping Markets Staying Tight Into 2022 - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Deere Employees Reject Contract Offer, Will Stay on Strike - more
  • Dollar, Treasuries Rise Amid Fed Reality Check: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Wednesday, November 3

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.89/lb ($19,605/tonne). Indicators at 6:00 am CST today show nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just under the 139,900 tonne level.  Shanghai nickel continues to shadow the LME, so nothing to report there.  The big news out of China, in our opinion, is the discussion amongst steelmakers to possibly add a carbon surcharge to exported steel. With Chinese steelmakers scrambling to find ways to meet that nations directives to cut carbon emissions, charging customers is a given, one way or another. SunSirs reports stainless steel prices in China fell  by .47%  last week. Before you pop the champagne, it remains 47.17% higher than this time last year. WBMS has an interesting article below on the worldwide trade in stainless steel scrap. One of our readers sent us an email yesterday and was asking about the scrap index price we post daily. This is an average of prices paid around the U.S. and does not reflect the price you might find regionally. A more detailed source is the average price posted by Scrap Monster. They not only list the national average, which is basically the same as Barchart index, but also shows the huge range of prices offered around the U.S. According to their page, one can expect to be paid as low as $.10/lb, to a high of $1/lb, for 304 stainless steel scrap, with a national average of $.44/lb.  You can find their page (here). They also list the same information for Canada. We will monitor it for awhile, and if it appears to stay current, we may make a change of sources for the new year. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $8.95/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper bounces on scarce supplies and robust risk appetite - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4334
  • SHFE Stainless Steel  Futures (yuan) - 19,925
  • Global Economic Indicators: Global Manufacturing PMIs - pdf here
  • Metalforming Magazine Nov 2021 - online here
  • Recycling Today November 2021 - online here

Stainless steel 21st century metal   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

     Tuesday's market review - Copper slides, caution prevails ahead of Fed meeting - Copper prices fell on Tuesday alongside other commodities due to caution ahead a meeting of the U.S. central bank, but worries about shortages and historically low stocks supported sentiment. - more

      SunSirs: Stainless Steel Prices Fell Slightly on November 1 - According to the price monitoring of SunSirs, on November 1, the price of stainless steel was currently quoted at 21,266.67 RMB/ton, down 0.47% from the previous trading day and up 47.17% from the beginning of the year. - more

        WBMS' First Edition of Stainless Steel Statistics -  After contributing to Stainless Steel World News Magazine with the 'Stats Corner' for some time, we have now swapped to Stainless Steel World who publish more regularly. For our first edition of 'Stainless Steel Statistics' we provide a review of stainless scrap, including the latest trade data. - more

      Senior Economist Highlights Undocumented Nickel Ore Exports to China - A senior economist with the University of Indonesia, Faisal Basri, in a webinar held with Paramadina Policy Institute on Tuesday said nickel ore export ‘leakages’ to China continue to happen in 2021. - more

      CSC prepares surcharge for EU rules - China Steel Corp plans to impose a moderate carbon surcharge on steel exports in August next year ahead of the implementation of new EU carbon rules, it said yesterday.  - more

      Anglo American promotes Duncan Wanblad to succeed long-standing CEO - Anglo American Plc named insider Duncan Wanblad as its new chief executive officer on Wednesday, in a widely expected move that will see current boss Mark Cutifani, who led the miner for nearly a decade, leave in April. - more

      BHP in talks with Wyloo over Noront takeover, extends tender expiry - BHP Group Ltd has started talks with billionaire Andrew Forrest's Wyloo Metals regarding the takeover of Noront Resources Ltd as both the companies try to acquire the Canadian nickel producer. - more

      ISM reports October manufacturing output remains solid - In its monthly Manufacturing Report on Business, ISM said that the report’s key metric, the PMI, was 60.8 1 (a reading of 50 or higher indicates growth), off 0.3% from September’s 61.1 reading. - more

  • Fed Confronts Economy With Most Widespread Shortages Since 1970s - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks, Bonds Waver Before Fed Moment of Reckoning: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Tuesday, November 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.94/lb ($19,700/tonne). Indicators at 6:00 am CST today show nickel trading around $.11/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just over the 140,900 tonne level. Cancelled warrants continue to climb, jumping to 48.28 to end October and just under the 48% level to begin November. Base and precious metals are all trading lower this morning, with Shanghai nickel trading slightly higher, following yesterday's LME action. Here are your average costs for October and a comparison to September. Nickel rose one penny - from $8.80/lb to $8.81/lb. Chromium fell slightly - from $5.15/lb to $5.13/lb. Molybdenum fell from $20.09/lb to $19.56/lb. Considering the huge price swings in nickel during the month of October, the fact the average only increased by one cent a pound is rather incredible. After yesterday's admission by China that industrial production has been contracting for the last three months (and getting worse), nickel bulls are going to have difficulty getting back to the $20,000 tonne level and if they do, holding on to it. It's day two of month eleven, of year twenty one of the twenty first century. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.91/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls 1% as iron ore market tumbles, cenbank meets loom - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4334
  • SHFE Stainless Steel  Futures (yuan) - 19,890
  • Global Economic Indicators: Global Manufacturing PMIs - pdf here

Stainless steel 21st century metal   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

     Monday's market review - China demand fears push copper to two-week low - Copper prices slipped to their lowest in more than two weeks on Monday as worries about demand in top consumer China spurred selling, but dwindling inventories outside China offered some support. - more

      US, EU reach agreement to ease steel and aluminum tariffs - The United States will lift tariffs on some steel and aluminum imports coming from Europe beginning Dec. 1 as part of an agreement to ease trade tensions between the two countries, the White House announced Sunday. - more

      Vale's Long Harbour nickel two-thirds less CO2 intensive than industry average - Vale's high-quality nickel produced at its Long Harbour operation in Canada emitted about one third of the CO2 of the industry average, the Brazilian miner said in a release on Monday. - more

      Courtesy AISI - In the week ending on October 30, 2021, domestic raw steel production was 1,860,000 net tons while the capability utilization rate was 84.3 percent. Production was 1,549,000 net tons in the week ending October 30, 2020 while the capability utilization then was 70.1 percent. The current week production represents a 20.1 percent increase from the same period in the previous year. - more

      President Biden and Twin Metals Face Off in the Boundary Waters - Fresh off the fight over Enbridge Line 3, there is another one occurring in the Land of 10,000 Lakes. This time, the battleground is Northeastern Minnesota and the players are the Biden administration and Twin Metals. - more

      Metal fabricator tackles welder shortage - By engaging area welding programs and investing in new technology, DeGeest, Tea, S.D., is building a solid foundation to grow - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Tesla secures lithium supply contract from world’s largest producer - more
  • Elon Musk Says He Will Sell $6B Tesla Stock Today To End World Hunger - But There Is A Catch - more
  • Powell risks rerun of 1960s inflation from confusing jobs market - more
  • Equity Bulls Pause as Fed, Economy Risks Dominate: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Monday, November 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.84/lb ($19,490/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and ended the week just over the 142,400 tonne level. Nickel retreated on Friday, and the bulls seem to still be suffering from shell shock after October ended with a wild last half.  The China Caixin Manufacturing PMI, the one we follow, rose to 50.6 in October while the China NBS Manufacturing Index, however, fell from 49.6 to 49.2. Since the latter is an official Chinese source, and is admitting a decline in production, one should probably give it more consideration. And with that slowdown spooking global markets, a quick recovery in nickel prices might be a stretch. Stainless steel producers are hoping for some stability after a volatile fall so far. We ran across a news article this weekend that was titled 'Flights cancelled, weddings postponed and people urged to stay home as China battles 'serious' Covid outbreak' (linked below under Other News). This caught our attention as some recent port shutdown's in China, because of covid cases, have exacerbated the worldwide logistical backup. Over the seven days of last week, China, a country of 1.4 billion plus citizens, has seen 337 covid cases and no deaths. During that same period, the U.S. had near half a million cases and saw 8,610 deaths. One country's serious concern is another's earnest hope for the future. It's a new month and we welcome back and thank one of our original sponsors for the site, Duaraloy Technologies. And we also want to again thank our first ever annual sponsor, ELG Metals Inc, who sponsored a side banner add for all of 2021. ELG, a global stainless steel recycler, had a big year, with Aperam buying them in May. The combined efforts of our sponsors keep this news page free for visitors from around the world. It's a new week, and a new month. 60 days left in 2021, and 54 days till Christmas. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.81 (average October)
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper rebounds on tight supply - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4325
  • SHFE Stainless Steel  Futures (yuan) - 19,870
  • Fearnleys Weekly Report (shipping) - more
  • Personal Income and Outlays, September 2021 - more
  • Employment Cost Index - pdf here
  • US Economic Indicators: Industrial Production - pdf here
  • US Economic Indicators: Durable Goods Orders & Shipments - pdf here
  • University of Michigan: Consumer Sentiment - chart here
  • Eurofer Economic and steel market outlook 2021-2022 - pdf here
  • China NBS Manufacturing PMI - more
  • China Steel Production thru September - more
  • United States Imports For Consumption Of Stainless Steel Products - more

Stainless steel 21st century metal   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

     Friday's market review - Aluminium prices slide with Chinese coal - Aluminium prices headed towards two-month lows on Friday as sliding coal prices eased concerns over supplies in top producer China, where coal-fired power is a key component in the metal’s production process. - more

      China Weekly Inventory Summary and Data Wrap (Oct 29) - (excerpt) The nickel ore inventory at Chinese ports grew 540,000 wmt from a week earlier to 8.987 million wmt as of October 29. The total Ni content stood at 70,600 mt. - more

  • Chinese steel giant Baosteel reports stellar quarter despite high coal prices - more
      Taiwan's stainless steel export sales expected to be increased in Nov/Dec - Taiwan's stainless steel mills announced their prices for November and the increase was not as high as market expectations. - more

      Russia’s stainless steel exports slide in Jan-Sep y-o-y - According to the Russian Special Steel and Alloys Consumers and Suppliers Association (USSA), Russia’s stainless steel exports totaled around 8,700 tons in the first nine months of this year, dropping by 11.7% compared to the same period a year ago. - more

  • The wealth of the richest Russians grew by $ 65.6 billion - more
      Miners look to carbon capture to move beyond net zero: Andy Home - The global race to carbon neutrality is a double-edged sword for the metals and mining sector. - more

      Europe's EV battery strategy threatened by supply chain gaps, Eramet says - Europe is still not investing enough in the supply chain for electric vehicle batteries and this could leave its planned gigafactories short of coveted minerals, French mining group Eramet said. - more
  • Europe: Plug-In Car Sales Up 42% In September 2021 - more
      Ports of Los Angeles and Long Beach Approve Controversial Container Dwell Fee on Ocean Carriers - The ports of Los Angeles and Long Beach have approved a new fee on ocean carriers for import containers that linger in marine terminals. - more

      The major impact of minor stoppages in the metal manufacturing process - Total productive maintenance (TPM) and overall equipment effectiveness (OEE) programs aim to reduce or eliminate what’s known as the six big losses. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Supreme Court Won’t Block Maine’s Vaccine Mandate for Health Care Workers - more
  • Amazon Says Labor, Fulfillment Costs May Wipe Out Holiday Profit - more
  • Grainger Sales Jump Nearly 12% in Q3 on Core Products Demand - more
  • Flights cancelled, weddings postponed and people urged to stay home as China battles 'serious' Covid outbreak - more 
  • Stocks, U.S. Futures Advance on Earnings Optimism: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more


October 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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