This page is archived news covering the period of November 2022
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Stainless Steel News and Nickel Prices



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Wednesday, November 30

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $12.18/lb ($26,850/tonne). Indicators at 6:00 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Tuesday and started today just over the 52,100 tonne level. Nickel is on the rise in Shanghai, either shadowing LME traders, or expressing less concern about COVID lockdowns and the protests in China. Indonesia's President, after reportedly forecasting his country would lose the WTO nickel case, and then reportedly boasting he had accomplished what he wanted after he did lose the case, is now reportedly appealing the decision. We say reportedly, because we linked to the stories at the time. Taiwan's Yusco announced prices for December and while US stainless surcharges rose for the first time since May, Taiwan stainless prices are moving lower - at least at Yieh. P A Inc was the first to respond to our call for 2023 primary sponsorship, so they will be our top banner sponsor for a second consecutive year in 2023. We thank them for their continued support. Stay safe out there, enjoy your hump day as we say farewell to November.
  • Average price of LME traded cash nickel so far this month - $11.43/lb

  Reports

  • Reuters metals morning - Copper skips to near two-week high on weaker dollar - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper moves higher on China demand hopes - Copper prices rose on Tuesday on hopes that protests against COVID-19 curbs in China will lead to a faster easing of the rules that have stifled economic growth and metals demand. - more

     Taiwan’s Yusco announces new stainless steel prices for Dec - Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, announced its new prices for December. - more

     China’s stainless steel crude steel output in week ending Nov 24 decreases w-o-w - In the week ending on November 24, the stainless steel crude steel output from China’s 33 stainless steel mills dropped by 9.13% week on week to about 596,000 tons. - more

     Indonesia plans to appeal after losing WTO nickel dispute with EU -  Indonesia's president said on Wednesday his country would appeal a trade dispute ruling that he stated had gone in favour of the European Union, which had sued Indonesia over its 2020 ban on exports of nickel ore. - more

     Mine opponents to ask Minnesota Supreme Court to void permit - The Minnesota Supreme Court will hear arguments Wednesday on an attempt by environmental groups to cancel a key permit for a long-stalled copper-nickel mine. - more

     India's finished steel imports from Russia hit 4-year high in April-October - India's finished steel imports from Russia during April-October rose to their highest in at least four years, government data compiled by Reuters showed, underscoring Moscow's bid to divert shipments in the wake of Western sanctions. - more

     Zimbabwe says China's Tsingshan to set up lithium operations - Zimbabwe has signed an agreement with Tsingshan Holdings Group, which plans to set up lithium mining and processing operations in the southern African country, President Emmerson Mnangagwa said on Tuesday. - more

     Metinvest enterprises in Ukraine resumed work after massive shelling of infrastructure - Although the electricity supply has since been partially restored, industrial producers use electricity from the grid within the available quotas, which can change every day. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Inflation around the world - more
  • Italian Navy Assists Disabled Tanker After Pirates Steal Cargo - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Tuesday, November 29

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $11.62/lb ($25,610/tonne). Indicators at 6:00 am CST today show nickel trading around $.42/lb higher. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Monday and still sit just under the 52,200 tonne level. Nickel is up this morning, thanks in part to a stronger Euro. The LME is claiming its actions last March "saved" the market and kept numerous players out of going default and destroying the market. Instead they took actions which, in our opinion, damaged their credibility. They fail to take responsibility for maintaining an exchange and allowing conditions to exist where such extreme 'emergency' actions were necessary. With the recent decision to not sanction Russian nickel, the LME should seek a quick departure to the year, because 2022 has not been their finest hour. Having received multiple inquiries on advertising availability of 2023, we regret we have not offered 'monthly' top banner displays for the past few years. For 2023, we can offer a 12 month top/primary banner reservation for $5000 (all year), or 6 months for $2750. These adds will be available for reservation and receipt of payment until December 16th. We appreciate our sponsors and it is their continued support that keeps the site free for all daily readers. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $11.40/lb
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  • Reuters metals morning - Copper leads base metals higher on China property support - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Monday's market review - Copper slides on China COVID protests, demand worry - Copper prices fell on Monday as worries about demand in top consumer China were reinforced by protests against the country’s strict COVID-19 curbs, but a weaker dollar earlier in the session helped to support sentiment. - more

     LME had regulatory obligation to be able to cancel nickel trades in March -filings - The London Metal Exchange (LME), battling a combined $472 million lawsuit from U.S. hedge funds Elliott Associates and Jane Street Global Trading, had a regulatory obligation to be able to cancel nickel trades in March, it said in court filings. - more
  • LME says it saved nickel market from $20bn 'death spiral' - more
     Taiwan’s upstream stainless steel mills expected to raise prices for Dec due to rising nickel prices & inventory replenishment - Due to the rising nickel prices and the demand for market inventory replenishment, it was expected that Taiwan’s major upstream stainless steel manufacturers Yieh United Steel Corp. (Yusco), Tang Eng Iron Works Co., Ltd., and Walsin Lihwa would raise their prices for December, with an increase of about NT$2,000/ton, which would be the third consecutive month of price hikes. - more

     Global nickel cartel off the table as Canada's trade minister rebuffs Indonesia's approach - Prime Minister Justin Trudeau’s government is keen to strengthen Canada’s relationship with Indonesia, but not so much so that it’s willing to join the nickel cartel that the emerging Asian power is trying to get off the ground. - more

     Exclusive: South Korea's Yoon ready to offer 'tailored' benefits to attract Tesla gigafactory - South Korea will offer "tailored" incentives to encourage Tesla to set up an electric vehicle gigafactory in the country and will minimise any risks posed by militant unions, President Yoon Suk-yeol told Reuters. - more

     Courtesy AISI - In the week ending on November 26, 2022, domestic raw steel production was 1,625,000 net tons while the capability utilization rate was 72.8 percent. Production was 1,828,000 net tons in the week ending November 26, 2021 while the capability utilization then was 82.8 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Sanctions-hit Russia asks India for 500 products for key sectors - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Monday, November 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $11.53/lb  ($25,430/tonne). Indicators at 6:00 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose over the holiday weekend and starts this week just under the 52,200 tonne level. Nickel closed lower on Friday, with COVID closure concerns in China seemingly the news of the hour. China nickel was down sharply overnight, likely due to the nationwide protests that have broke out over those COVID closures, while London nickel is up, courtesy of a leap in the Euro this morning. Three days left in the month and 27 days until Christmas. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $11.40/lb

  Reports

  • Reuters metals morning - Copper falls on China COVID protests but dollar supports - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Friday's market review - Copper slips as COVID clouds outlook for Chinese demand - Copper prices fell on Friday as surging COVID-19 levels and lockdowns in China hit demand and the dollar strengthened, making metals costlier for buyers with other currencies. - more

     Aurubis CEO 'disappointed' LME did not ban Russian metals - The chief executive of Aurubis AG, Europe’s biggest copper smelter, said on Thursday he was disappointed by the London Metal Exchange’s decision not to ban Russian metals. - more
  • LME hopes to resume nickel trade in Asian hours in two weeks -executive - more
     Global stainless steel market to grow at CAGR of 9.4% by 2028 - According to a report, the global stainless steel market’s value was US$112.3 billion in 2021, and the figure was expected to reach US$207.94 billion by 2028, growing at a compound annual growth rate (CAGR) of 9.4 % during the period from 2022 to 2028. - more

     Nickel IPO puts Jakarta at centre of China EV boom - A Hong Kong stock market debut puts Jakarta at the centre of China’s electric-car boom. Lygend Resources & Technology, a Chinese nickel trader, is looking to raise up to $594 million in an initial public offering to expand in Indonesia. - more

  • Chinese nickel firm Lygend to raise $470 mln in Hong Kong IPO - sources - more

     ArcelorMittal Kryvyi Rih suspends production due to shelling of energy infrastructure - A metallurgical plant in Krivoy Rog lacks electricity due to Russian rocket attacks on Ukraine's critical energy infrastructure. - more

     The state will not support the export of metals from Russia - Ministry of Industry and Trade of the Russian Federation - This year, according to the forecast of the Russian Ministry of Industry and Trade, steel production in the Russian Federation will decrease by 6–8%, while the ministry does not expect a serious drop in exports this year and expects steel exports to remain at the level of 2022 next year. metallurgical companies will reorient supplies from "unfriendly countries" to the domestic market. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • The ‘ship backup has ended’ at Los Angeles, Long Beach ports - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Wednesday, November 23
    We will not be publishing on Thursday and Friday, as the US celebrates Thanksgiving. We will return to updating this site on Monday, the 28th. Thank you and enjoy your holiday weekend!

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $11.81/lb ($26,030/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and now stand just under the 50,800 tonne level. Nickel traders appear to be using the Euro and Dollar par to trade on the past few days, with the Euro higher yesterday and this morning, but off earlier highs as we publish. Shanghai ended a little higher overnight, which appeared to be more of a catch up to the sizable LME surge of yesterday, than a continuation of its own jump the prior session. Clarksville, Tennessee is getting a new South Korean battery cathode factory. Global steel production in October was flat, but Germany reports a 14% YOY drop. Stay safe out there, and enjoy your holiday weekend!
  • Average price of LME traded cash nickel so far this month - $11.34/lb

  Reports

  • Reuters metals morning - Copper inches up on tight global supplies, China COVID cases weigh - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper rebounds on weaker dollar; China COVID outbreaks cap gains - Copper snapped a four-session run of losses on Tuesday as the U.S. dollar weakened, but rising COVID-19 cases in top metals consumer China capped the upside. - more

     Global stainless steel pipes market to grow at CAGR of 4.6% in 2022-2028 - According to a report, the global stainless steel pipes and tubes market had a worth of US$32.68 billion in 2021 and was expected to grow at a compound annual growth rate (CAGR) of 4.6% during the period from 2022 to 2028 and reach US$44.77 billion by 2028. - more

     LG Chem to invest over $3 billion to build U.S. battery cathode plant - South Korea's LG Chem Ltd said on Tuesday it will invest more than $3 billion to build a battery cathode factory in Tennessee, as it ramps up plans to meet rising demand for U.S. electric vehicle components. - more

       October 2022 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 147.3 million tonnes (Mt) in October 2022, a 0.0% change compared to October 2021. - more

     Oct crude steel production falls 14.4% on year: WV Stahl - German crude steel production fell 14.4% year on year to 3.14 million mt in October, the eighth straight year-on-year decline, according to data published Nov. 21 by German steel federation WV Stahl. - more

     India scraps export taxes on steel and some raw materials, adds import tariffs on coal and coke - In a slew of tariff changes, the Indian government has scrapped export duties on pig iron, specified iron and steel products and pellets, according to a government notification late on Friday, November 18. - more

     E-vehicle boom opens new opportunities for PH mining -  Developing the electric vehicle (EV) industry is opening new opportunities for the Philippine mining sector, a company executive said Wednesday. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Posthaste: The world’s population explosion has been defused — but now there's a new time bomb - more
  • Does Employers’ Worker Poaching Explain the Beveridge Curve’s Odd Behavior? - more
  • Prime Time for Tankers as Sanctions Hit Russian Oil  - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Tuesday, November 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $11.37/lb ($25,075/tonne). Indicators at 6:00 am CST today show nickel trading around $.24/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and started today at the 49,800 tonne level. Europe won its dispute against Indonesia in the WTO courts, and while Indonesia intends to appeal the decision, their President has already proclaimed his nation will likely lose this battle, but ultimately, it has won the war. Indonesia is no longer just another island nation where foreign powers can come dig up and export their minerals. Shanghai nickel rose overnight, and LME traders are following suit. Since the Chinese government relaxed a few of its strict COVID policies, case numbers in that country have surged. While the two may or may not have anything to do with the other, it is safe to imagine someone who pushed the policy change, is now laying low. Stay safe out there and have a great Tuesday.
  • Average price of LME traded cash nickel so far this month - $11.32/lb

  Reports

  • Reuters metals morning - Copper rebounds on weaker dollar; China COVID outbreaks cap gains - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • Inflation and the world price of poultry - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Monday's market review - New China COVID curbs push copper to two-week low - Copper prices slid to their lowest in more than two weeks on Monday, pressured by fresh COVID curbs in top consumer China, a stronger dollar and rising inventories in warehouses registered with the London Metal Exchange. - more

     'It makes no sense for Canada': Industry rebuffs idea of joining an OPEC-like alliance for nickel  - Mining industry veteran Mark Selby has for years been telling anyone who would listen that the production of nickel — a metal key to batteries and the energy transition — was getting so concentrated in just a few countries that a cartel-like organization to control supply was inevitable. - more

     Global nickel market surplus falls to 14,400 tonnes in Sept -INSG - The global nickel market surplus declined to 14,400 tonnes in September from 23,600 tonnes in August, data from the Lisbon-based International Nickel Study Group (INSG) showed on Monday. - more

     Column: The bulls are back in charge of iron ore prices -  Iron ore prices are gathering steam as confidence over the outlook for China's steel demand increases, outweighing bearish factors such as potential winter production curbs and India lowering iron ore export taxes. - more

     Indonesia to Lodge Appeal After Losing WTO Dispute on Nickel Export Ban - The World Trade Organization (WTO) dispute settlement body or DSB viewed that Indonesia’s ban on the export and refining of nickel minerals had violated regulations. - more

     Metinvest intends to receive compensation from Russia for the destroyed plants in Mariupol - The money received by Rinat Akhmetov and Vadim Novinsky is planned to be spent on the restoration of the Ukrainian metallurgical plants of the Metinvest group and the resumption of steel production in Mariupol. - more

     Courtesy AISI - In the week ending on November 19, 2022, domestic raw steel production was 1,628,000 net tons while the capability utilization rate was 73.0 percent. Production was 1,828,000 net tons in the week ending November 19, 2021 while the capability utilization then was 82.8 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Potential for rail shutdown rises as largest union rejects labor deal - more
  • Goldman Sachs says U.S., Europe could end reliance on Chinese EV batteries by 2030 -FT - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Monday, November 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $11.51/lb ($25,385/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday and started this week just under the 49,500 tonne level. Nickel is lower this morning, but likely due to a lower Euro. Lot of talk in the business media about covid cases being on the rise in China, and we have added a chart under Reports that confirm this. The nickel mine in Guatemala is in the news - yet again. For our foreign readers, this is Thanksgiving week in the U.S. and the actual holiday is celebrated on Thursday. Many companies close Friday as well and extend this into a four day weekend,  and while the LME is open the entire week, we will only be publishing thru Wednesday this week. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $11.33/lb

  Reports

  • Reuters metals morning - New China COVID curbs push copper to two-week low - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • China COVID cases on rise - charts here
  • Nickel price chart - chart here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Friday's market review - Copper eases as China COVID cases, rate hike worries cloud demand outlook - Copper prices extended their decline to a third straight day on Friday as a spike in COVID-19 cases in top metals consumer China and hawkish comments by Fed officials stoked demand concerns. - more

     Eramet's New Caledonia nickel business seeks help with new cash crunch - SLN, the New Caledonian nickel producer controlled by French mining group Eramet, is seeking help from a court-appointed expert to lead talks with stakeholders as it faces a cash squeeze from production setbacks and soaring costs, it said on Friday. - more

     Indonesia faces difficult task to create OPEC-like group for nickel - Indonesia's proposal to create an organisation to control nickel output and prices along the lines of OPEC would be an uphill struggle, industry analysts say, as production is controlled by privately-owned companies and not governments. - more

     China’s top 5 steelmakers on track to supply 34% of total output as industry consolidation continues - China’s steel industry consolidation has resulted in four deals to date in 2022, putting the five biggest producers on track to account for 34% of the country’s production, and the acquisition of smaller steelmakers by larger ones will continue to gain momentum in the coming years, steel mill sources said Nov. 14-17. - more

     U.S. sanctions actions target Russian involvement in Guatemala's mining sector - The U.S. Treasury Department on Friday issued sanctions targeting Russian involvement in the Guatemalan nickel sector, according to a statement. - more

  • Solway's statement - more
     Outokumpu becomes first stainless steel producer to provide product-specific carbon footprint data - Outokumpu, a leading stainless steel manufacturer in Europe based in Finland, has become the first stainless steel producer to provide its customers with specific carbon footprint data on its stainless steel products, aiming to help customers further reduce their climate emissions. - more

     These companies are crippling South Africa, more than rate hikes: CEO - Investec CEO Fani Titi said that poor management, corruption, and the overall failures of Eskom and Transnet would keep South Africa in crisis unless the government makes some difficult decisions, reported the Sunday Times. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Ukraine delivered 86,000 tons of iron ore to Turkey in September - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Friday, November 18

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $11.42/lb ($25,190). Indicators at 6:00 am CST today show nickel trading around $.31/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose by two lots and started today's session just over the 49,500 tonne level. Nickel continues to fall, as the early week price spike continues to lose its gains. Everyone has a thought on what caused this recent spike. The one that sounds the most likely, a fire in Indonesia followed by short covering, did not happen until Monday and prices started spiking last Friday. So pick your poison, but we see this as just another, among many, incidents that proves the nickel market can be a volatile mess, with directional shifts needing no change in fundamentals to justify. As it stands, nickel is trading under the $25,000 tonne level, and just a tad under where it closed on the 9th. We are still well over the $22,000 tonne level, where October ended, but the November run is showing signs of losing gas, or at least, the inability to hold on to  the $30,000 tonne level has made the run vulnerable to a bear charge. More on the nickel cartel idea below, and Republicans in the House of Representatives want to make the mine permitting process faster. Stay safe out there and enjoy your weekend!
  • Average price of LME traded cash nickel so far this month - $11.34/lb

  Reports

  • Reuters metals morning - Copper set for weekly drop on demand concerns, stronger dollar - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • Astonishingly different inflation across goods categories - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Thursday's market review - Copper retreats on renewed worries about China COVID curbs - Copper prices extended losses on Thursday, weighed down by a stronger dollar and demand concerns after a flare up in COVID-19 cases in top metals consumer China. - more

     Column: LME tightens restraints as nickel turns unruly again - London Metal Exchange (LME) nickel trading has turned wild again this week. - more

     Canada 'very unlikely' to join OPEC-like group for nickel -govt source - Canada has not committed to establishing an OPEC-like organization for nickel-producing countries with Indonesia and is "very unlikely" to participate in any such group, a Canadian government source familiar with the discussions said on Thursday. - more

  • Plans for OPEC of Nickel Finds Doubters in Australia, Canada - more

     Japan’s NSSC raises 300 series stainless steel prices for Nov - Nippon Steel Stainless Steel Corp. (NSSC), the largest stainless steel producer in Japan, announced its price adjustment of 300 series stainless steel and medium and heavy plates for November. - more

     Vale to supply GM with nickel for EVs, starting in 2026 - Brazilian mining giant Vale SA will supply General Motors Co with battery-grade nickel for future electric vehicles, starting in 2026, the companies said on Thursday. - more

     U.S. Republicans aim to shorten EV mine permitting after House win - Republicans will seek to boost American production of lithium, copper and other electric-vehicle metals after the U.S. midterm elections gave them narrow control of the House of Representatives and the power to influence how regulators approve or deny mining projects. - more

   Other News

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Thursday, November 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $12.47/lb ($27,500/tonne). Indicators at 6:00 am CST today show nickel trading around $.17/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today at the 49,500 tonne level. Cancelled warrants fell below the 10% level. Volatility is back as the bears try to put a halt on the bulls big November run. The last day of October, the official cash nickel price was $9.86/lb. On Tuesday, it was $13.43/lb. POSCO reports its back up and running after an earlier fire closed one of their hot roll lines. Nickel closed lower for a second consecutive session overnight in Shanghai, with last night;s fall much steeper than the prior session. Even when they try to lead, they end up following the LME lead. Stay safe out there and enjoy your pre-Friday.
  • Average price of LME traded cash nickel so far this month - $11.30/lb

  Reports

  • Reuters metals morning - Prices fall on firmer dollar, demand concerns - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • Industrial Production: Manufacturing: Durable Goods: Raw Steel - more
  • US Economic Indicators: Manufacturing Production & Capacity by Major Industries - pdf here
  • US Economic Indicators: Industrial Production - pdf here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Wednesday's market review - Copper falls as weak Chinese data adds to slack demand - Copper prices fell on Wednesday as weak Chinese economic data added to signs of low demand and ample supply, taking the heat out of a recent rally. - more

  • Volatility reigns as nickel plunges after rising 40% in two weeks - more
     Nickel prices tumble as LME scrutinises volatile trading - The London Metal Exchange (LME) said on Wednesday it was conducting enhanced monitoring of nickel trading after prices fell as much as 12% in volatile and illiquid conditions. - more

     January to September 2022 Metals Balances - (excerpt) The nickel market was in surplus during January to September 2022 with apparent production exceeding demand by 10.5 kt. In the whole of 2021, the calculated deficit was 180.3 kt. - more

     POSCO's stainless steel hot rolling mill resumes normal orders - Posco's hot rolling mill resumed operation in October, but its annealing and pickling lines of stainless steel plants did not start simultaneously. - more

     European stainless steel prices keep flat on sluggish demand - Distributors in Europe began to replenish their inventory in November, which meant that market inventory was already low. - more

     Influx of freight-carrying trucks swamp Richards Bay port following coal derailment - South Africa’s Transnet said it had taken steps to ease an influx of trucks carrying goods for export via Richards Bay port following the derailment of 97 wagons on the company’s North Corridor rail route. - more

   Other News

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Wednesday, November 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $13.64/lb ($30,065/tonne). Indicators at 6:00 am CST today show nickel trading around $.44/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday, and ended that session just over the 49,900 tonne level. It has been many years since we have seen inventory levels below 50,000 tonnes. LME nickel closed above the $30,000 tonne level yesterday, but Shanghai wasn't having it and closed lower, for the second time in the last three sessions. LME nickel is down sharply this morning, and not really sure of any "news" that might be responsible. Indonesia has approached Canada with its 'nickel cartel' idea. We try not to pay attention to 'conspiracy theorists', but it would seem that the U.S. should pay close attention to this situation. One one hand we are making nickel a 'critical' mineral, and spending tax dollars to get miners to invest in nickel mines. On the other Canada and the U.S. share mutual security concerns and a friendship that is hard to match anywhere in the world so let's learn from OPEC's habit of holding the world hostage to its geopolitical whims. Lot of reports out, including monthly fasteners and corrugated box reports. There was a time when they were good indicators, although not as much anymore. It's the second half of the eleventh month of the twenty second year of the twenty third century. A long way of saying 39 days till Christmas. Stay safe out there and enjoy your hump day!
  • Average price of LME traded cash nickel so far this month - $11.15/lb

  Reports

  • Reuters metals morning - Copper dips on geopolitics risks, demand jitters - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • The Cass Freight Index - more
  • China Industrial Production - more
  • Producer Price Index by Commodity: Steel Wire, Stainless Steel - more
  • Producer Price Index by Industry: Truck Transportation  - more
  • Producer Price Index by Commodity: Externally Threaded Fasteners - more
  •  Producer Price Index by Industry: Corrugated Shipping Containers - more
  • ITS The State of Steel - more
  • US Producer Price Index - pdf here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper rally stalls as COVID spreads in China - Copper’s rally paused on Tuesday as rising COVID-19 cases and weak factory activity in China held prices below Monday’s five-month high. - more

     Column: LME stays Russian metal ban with views starkly split - The London Metal Exchange (LME) has announced it will continue accepting Russian metal as good delivery against its industrial metal contracts, for now at least. - more

     Stainless Steel Prices Likely to Get Weaker Cost Support in November - Prices of spot stainless steel rose slightly in October, with a monthly increase of about 200 yuan/mt.  - more

     Indonesia proposes to Canada setting up OPEC-like group for nickel - Indonesia has proposed in talks with Canada establishing an OPEC-like organization for nickel producing countries, the Southeast Asian nation’s investment ministry said in a statement on Wednesday. - more

     Only Steel Shipments in US Increase in October - The MSCI Metals activity report for the month of October, 2022 shows only steel shipments in the U.S. increasing from year-ago levels. - more

     Courtesy AISI - In the week ending on November 12, 2022, domestic raw steel production was 1,645,000 net tons while the capability utilization rate was 73.7 percent. Production was 1,828,000 net tons in the week ending November 12, 2021 while the capability utilization then was 82.8 percent. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Marine Fasteners new CEO - more
  • Third rail union rejects contract as deadline for agreement looms - more
  • The battery supply chain is finally coming to America - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Tuesday, November 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $13.08/lb   ($28,840/tonne). Indicators at 6:00 am CST today show nickel trading around $.39/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today's session just over the 50,000 tonne level. The bull is back, with the price of nickel rising more the last two days, than they have since this run began a few weeks ago. Yesterday's spike was caused by an apparent combination of an explosion at a small scale producer in Indonesia, to short covering. Today, there are reports that the old Goro plant is closed due to a tailings leak. Reuters appears to be convinced this is all thanks to China's loosening of its COVID policy, which remains a zero case policy. In the mean time, nickel is nearing the $30,000/tonne threshold at the same time LME inventory numbers look to fall below the 50,000 tonne threshold. Sty safe out there and enjoy your middle of the month Tuesday!
  • Average price of LME traded cash nickel so far this month - $10.92/lb

  Reports

  • Reuters metals morning - Most base metals rise as China COVID easing lifts sentiment - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Monday's market review - China demand optimism propels copper to 5-month high - Copper prices hit near five-month highs on Monday on optimism about demand in top consumer China after officials moved to shore up the country’s property sector and ease its strict COVID restrictions. - more

  • Nickel briefly surges by limit as report of blast spooks market - more
  • Nickel Takes Off as China’s COVID Crisis Affects Each Commodity Differently - more
     LME nickel price offers breach daily upper 15% price limit - traders - London Metal Exchange rules on daily price swings were breached on Monday, traders said, with offers to sell nickel above the 15% limit placed in volatile trade for the first time since the March debacle when the exchange imposed constraints. - more

     New Caledonia nickel plant, a Tesla supplier, cuts supply after leak - Blomberg - New Caledonia nickel producer Prony Resources, a supplier to Tesla, will reduce production after a leak from its tailings dam, Bloomberg reported on Tuesday. - more

     LME maintains status quo on Russian metal - The LME's decision to continue to allow Russian metal to be delivered into its warehouses put some downward pressure on metals on Monday morning, easing fears of supply shortages - more

     SunSirs: Stainless Steel Prices Rose First and Then Fell This Week (November 7-11) - According to the price monitoring of SunSirs, stainless steel fell first and then rose this week. - more

     S&P Global Commodity Insights discusses consensus price forecasts for industrial and precious metals, including platinum group metals - (excerpt) The LME nickel cash price is at the mercy of the Russia-Ukraine conflict, with the LME currently in formal discussions on banning Russian metal deliveries into its warehouses. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • As COVID-19 Resurges in Australia, Cruise Ship Returns With 800 Cases - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Monday, November 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $12.41/lb ($27,360/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started this week just under the 50,200 tonne level. You know it's going to be one of those days when the first headline you see in the morning reads "Nickel jumps 15% to highest since May in illiquid trade" (article here). Now before your heart stops because you just dumped some non moving stainless steel inventory for year end, nickel has  come back down to earth, and up only around 2.5% as we post this morning update. According to a trader interviewed by Reuters, we are seeing short covering taking the price higher, which is basically the same reason the March debacle happened. Over the weekend, the LME, already lacking in credibility because of that March debacle, announced the majority of its members planned on buying Russian nickel anyway, so banning the storage of their nickel in LME warehouses and forbidding the trading of the same because of the invasion of Ukraine, was pointless. And that is how you show your neutered without being graphic about it. Another period when we see LME at its "less than finest" hour. Oh - and Shanghai nickel fell overnight. Stay safe out there and have a great week.
  • Average price of LME traded cash nickel so far this month - $10.77/lb

  Reports

  • Reuters metals morning - Copper near 5-month high on China's property support; Fed warning caps gains - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • MINE Magazine Nov 2022 - online here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Friday's market review - Industrial metals surge after China eases COVID measures - Industrial metals prices jumped on Friday after China eased some coronavirus rules, fueling expectations that it will abandon a zero-COVID policy that has reduced economic activity and demand for metals. - more

     LME will not ban Russian metal from its system - The London Metal Exchange (LME) said on Friday it will not ban Russian metal from being traded and stored in its system because a significant portion of the market is still planning to buy the country’s metal in 2023. - more

     China Eases Zero-Covid Rules as Economic Toll and Frustrations Mount - Top leaders relax stringent pandemic controls in bid to lessen economic and societal impact, even as daily cases surge past 10,000 - more

     China Has Links to Dozens of Canadian Miners Tied to Critical Minerals - China has built up stakes in more than two dozen Canadian mining companies, including some of the industry’s biggest names. Canada’s latest crackdown on foreign investments in critical minerals is about to put a chill on such activity. - more

  • Nickel is the key to an electric vehicle transition. Is mining it making Canadians sick? - more

   Other News

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Friday, November 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $11.87/lb ($26,165/tonne) Indicators at 6:40 am CST today show nickel trading around $.24/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today's session just over the 50,300 tonne level. Inflation fell in the U.S. according to figures released yesterday, and the Euro immediately jumped on the news. Base metals rose, and nickel, which was already in a bullish run, soared. And it still is today, up over $2600/tonne in the last three days - and the week still has a few hours left. So is this bull run here to stay - or is this merely a bear trap attempt? Cancelled warrants remain in the 11% range, so so far, the bears aren't biting - at least with physical inventory. Since it follows the LME Week meetings, it is possible there is something more to this. LME stockpiles are back down this month, and very close to falling below the 50,000 tonne level, which considering how long they have been reading just above that level means far less in reality, than it would psychologically. Whatever happens, we will keep you posted. Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $10.64/lb

  Reports

  • Reuters metals morning - Industrial metals jump after China eases COVID measures - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • The St. Louis Fed’s Financial Stress Index, version 4 - more
  • Current US Inflation Rates: 2000-2022 - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Thursday's market review - Copper gains as U.S. inflation data points to fewer rate rises - Prices of copper and other industrial metals rose sharply on Thursday after U.S. data showed that underlying inflation appeared to have peaked, which may allow the Federal Reserve to stop raising interest rates sooner. - more

     China’s crude stainless steel production decreases in Q1-Q3 y-o-y - According to statistics, China’s crude stainless steel production totaled around 23.63 million tons in the first three quarters of this year, sliding by 5.22% compared to the same period a year ago. - more

     Australian mining magnate Forrest calls for ban on seabed mining - Fortescue Metals executive chairman Andrew Forrest on Tuesday said his charitable foundation is in favour of a pause on seabed mining, the first time a prominent mining executive has spoken out against the nascent industry. - more

     Russian steel production fell by 6% - The Russian Ministry of Industry and Trade announced an increase in steel demand in the domestic market that began in the third quarter. - more

     Indonesian nickel mines expose eco-costs of electric cars - Nickel is essential for making electric vehicle batteries, and Indonesia is one of the largest producers in the world. - more

   Other News

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Thursday, November 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $11.20/lb ($24,700/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Wednesday and ended the day just below the 50,400 tonne level. Shanghai nickel jumped overnight, to catch up with LME nickel, but we show their nickel is trading at a level not see since June. The LME made a run to the $24,000 tonne level in mid September, but after a few days it fell lower. The last time we spent any time at or above this level was in, drum roll please, June. Another slow news day but we did note the the Fastener Distributor Index fell in October to 44.3 from 47.6 in September. Like other indexes, any reading below 50 implies contraction, and fastener demand is a good gauge of US manufacturing production. Stay save out there and have a great Thursday!
  • Average price of LME traded cash nickel so far this month -

  Reports

  • Reuters metals morning - London copper eases on firm dollar ahead of U.S. inflation data - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • Truck Tonnage Index - more
  • Fastener Distributor Index - October 2022 - more
  • Recycling Today - online here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Wednesday's market review - Copper surrenders gains after hitting two-month peak on Russia news - Copper prices briefly surged on Wednesday to their highest in more than two months after Russia ordered a major retreat in Ukraine, raising investors’ hopes that the conflict may be nearing an end, but the gains fizzled out. - more

     China's Metals Output in October - (excerpt) China’s NPI output in October stood at 35,700 mt in Ni content, up 14.2% MoM and 14.6% YoY. The spot prices of stainless steel rose sharply in October, and the orders received by stainless steel plants also increased compared with that in September. - more

     The rise and fall of European gas prices - How European gas prices surged to unprecedented heights and then plunged by two-thirds – and what it means for steel buyers. - more

     Threats from “disgruntled groups” preceded coal train derailment, says Transnet - Transnet said heavy rains overnight hampered efforts to restore operations on its coal line following a derailment of a train carrying export coal on Tuesday. - more

   Other News

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Wednesday, November 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $10.87/lb ($23,965/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and ended that session just over the 50,400 tonne level. At the moment, nickel is the only base metal trading in the green, with Chinese COVID numbers concerning many traders. Voting day is behind us and so far, the red wave we forecast has yet to show itself. Many major races are still up in the air, as a polarized country keeps the tug of war for Congressional control tight. Slow news day in our industry so we leave you with it. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $10.52/lb

  Reports

  • Reuters metals morning - Copper stumbles lower on weak China data, rising COVID cases - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - Copper bounces on supply worries, weaker dollar -  Copper prices rebounded on Tuesday on supply worries and a weaker dollar, shrugging off an upsurge in COVID-19 cases in the world’s top metals consumer China. - more

     Bill in Congress would delay the new restrictions on what cars qualify for EV tax credits - Automaker don't want to lose tax credits, but mining companies like the law as-is - more

     China's stainless steel output expected to fall by 3.4% in 2022 - According to statistics, Chinese stainless steel export volume reached 3.464 million tons from January to September 2022, increasing by 4.79% year on year. - more

     Steelworkers Reach Tentative Agreement on Four-Year Contract with U.S. Steel - The United Steelworkers (USW) today said that the union has reached tentative agreement on a new, four-year contract on behalf of roughly 13,000 members of 13 local unions at U.S. Steel facilities featuring major economic and contract language improvements. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Fastenal Hits $1B in E-Commerce Revenue - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Tuesday, November 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $10.61/lb ($23,390/tonne). Indicators at 6:00 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Monday and started today just over the 50,800 tonne level. Nickel fell back yesterday on COVID concerns from China, with more outbreaks being reported in their cities - including major industrial hubs. Base metals are trading mixed this morning, but quietly. Today is election day in the U.S. and we feel rather confident in predicting a Republican take over of both Houses of Congress. This means with a Democratic President and Republican control of Congress, absolutely nothing will get accomplished in the next couple of years. And that is our forecast for the day. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $10.51/lb

  Reports

  • Reuters metals morning - Aluminium pulls back as China COVID cases climb, dollar gains - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Monday's market review - Chinese demand fears haunt copper market - Copper prices fell on Monday after top consumer China reaffirmed its stringent COVID-19 restrictions and data from the top consumer reinforced demand worries, but sliding inventories and a lower dollar limited losses. - more

     IREPAS Short Range Outlook : November 2022 - Demand at crisis levels in global longs market, unlikely to improve in coming months - more

     More Governments Are Turning Against the Deep Sea Mining Rush - As world leaders gather at the United Nations climate summit in Egypt this week, another international meeting is underway in Jamaica to decide the fate of the planet’s oceans. - more

     Courtesy AISI - In the week ending on November 5, 2022, domestic raw steel production was 1,640,000 net tons while the capability utilization rate was 73.5 percent. Production was 1,828,000 net tons in the week ending November 5, 2021 while the capability utilization then was 82.8 percent. - more

  • US steel sentiment remains bearish as uncertainty looms over the demand outlook: survey - more
     Guangzhou's COVID outbreak deepens as more lockdowns loom in China - COVID-19 cases sharply escalated in Guangzhou and other major Chinese cities, official data showed on Tuesday, with the global manufacturing hub fighting its worst flare-up ever and testing its ability to avoid a
Shanghai-style citywide lockdown. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • The new disconnect between mortgages and house equity - more
  • DHL Express US shipping rates to jump 7.9% in 2023 - more
  • STAFDA Economic Advisor Warns Distributors to Make a Plan - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Monday, November 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $10.78/lb ($23,760/tonne). Indicators at 6:00 am CST today show nickel trading around $.30/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started this week of trading just under the 50,800 tonne level, LME stockpile numbers have been hovering around the 52,000 tonne level since mid September, but this is the first time it has fallen below the 51,000 tonne level this year. Nickel is down sharply this morning after Friday's bull run on more rumors from China about them weakening their zero-covid policy, turned bearish with an official denial from China. Andy Home of Reuters has more on Canada's decision to close their critical minerals mines to Chinese investment. Lot of talk about a potential diesel shortage, but much of the news appears to be more hype than reality. And three countries in South Africa are considering forming an OPEC style cartel for lithium. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $10.53/lb

  Reports

  • Reuters metals morning - London copper falls as hopes of China easing COVID rules fade - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Friday's market review - Copper surges on dollar slide, hopes China will loosen COVID measures - Copper prices vaulted to the highest level in six weeks on Friday as the dollar plunged and more rumors swirled about China loosening its strict COVID-19 measures. - more

     Canada slams the door on China in critical minerals race: Andy Home - Canada has just upped the ante in the global competition to secure critical minerals. - more

     Italian stainless flats demand stalls - Sales activity for Italian stainless steel coils, sheet and tube is slowing substantially after resuming in September and sustaining in the first days of October, sources in the sector tell Kallanish. - more

     SunSirs: The Peak Season Effect Faded, and the Price of Stainless Steel Weakened (October 31-November 4) - According to the price monitoring of SunSirs, the stainless steel fell slightly this week. As of November 4, the daily average price of spot 304/2B stainless steel flat plates 1.0 * 1,219 * 2,438 (tolerance 0.91) was 17,325 RMB/ton, down 1.49% from the price of 17,587.5 RMB/ton at the beginning of the week and down 16.44% year on year. - more

    US Import and Export figures of nickel, stainless steel, anything - enter your item in the search box - more

   Other News

  • Reuters The Day Ahead - pdf here
  • FRED gets real, unless you want to keep it nominal - more
  • Why The U.S. Has A Diesel Shortage - more
  • U.S. rail union representing 4,900 workers narrowly approves contract - more
  • China’s lithium hold won’t be undercut by Opec-style cartel as Argentina, Chile, Bolivia consider alliance - more

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Friday, November 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $10.40/lb  ($22,920/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and started today's trading session just over the 51,400 tonne level for a second day. Nickel fell sharply yesterday as part of a general base metals 'run for the border' trading day, but is rising this morning. Reuters is crediting rumors again out of China that they are preparing to lift some COVID restrictions, rumors we are not seeing in Chinese media. Instead, we saw Shanghai markets overnight not take the lead from the LME, which it nearly always does on sharp movements, and it closed only slightly lower. This may have London traders wondering if they missed something, and even though the Euro is lower, typically bad news for base metal trading, all LME traded base metals are rebounding this morning. Big news yesterday from north of the border, as Canadian media reports Canada has ordered three Chinese companies to divest their interest in lithium mines in that country. China buying farm land in the U.S. has become a political issue this year, at least in the state we live, and now it appears similar concerns exist in Canada. While we have never been shy expressing our concerns about the shift in U.S. relations toward China, and their sudden re-classification as a military threat, we see these property ownership concerns as legitimate. It is our understanding that in Communist China, only the state can "own" land. If this is true, then restrictions on China ownership of property in the U.S., directly or indirectly, should be closely restricted. This should apply to any foreign entity that restricts property ownership within their borders, not just China. And with critical minerals another hot button issue, we suspect Canada's move will be closely watched by other Western nations. Again, can an American company own and operate a lithium mine inside China? What is good for the goose is good for the gander, in our opinion. Well, we swore we wouldn't get drawn into this political season and we had done so good until today. Oh well, just an opinion and like arm pits, we all have a couple and rarely do others think they smell as good as we might. Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $10.45/lb

  Reports

  • Reuters metals morning - Copper prices jump on China reopening hopes, global supply woes - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Thursday's market review - Copper sags after Fed unnerves investors and dollar rallies - Copper prices slumped on Thursday after the U.S. Federal Reserve failed to provide a clear signal for less aggressive increases to interest rates as a global slowdown curbs demand for metals. - more

      Canada orders three Chinese firms to exit lithium mining - Canada ordered three Chinese companies on Wednesday to divest their investments in Canadian critical minerals, citing national security. - more

     EU extends anti-dumping duties on cold rolled steel from China and Russia - Anti-dumping duties in the range from 19.7% to 22.1% have been preserved for imported metal products of Chinese metallurgists, for Russian ones - from 18.7% to 36.1%. - more

   Other News

  Economic Stats and Prices (posted in Friday edition)

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Thursday, November 3

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $10.95/lb  ($24,150/tonne). Indicators at 6:00 am CST today show nickel trading around $.25/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just over the 51,400 tonne level. Nickel is down sharply today, after the U.S. Fed raised interest rates by the standard 3/4 of 1% and in a press conference afterwards, made it sound like more was to come. The commodity board is mostly red this morning, so nickel is not alone. Solway reports it has shut down its ferronickel operation in Ukraine due to a lack of energy. Slower news day. Stay safe out there and have a great Thursday!
  • Average price of LME traded cash nickel so far this month - $10.45/lb

  Reports

  • Reuters metals morning - Copper eases as Fed's Powell sends prolonged hawkish signals - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • Recessions in Europe: How deep and how long? - more
  • Desjardin's United States: The 2022 Midterm Elections and the US Economy - A look at the issues and the potential economic fallout of the November 8 elections - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Wednesday's market review - Copper stuck between factory slump and China demand hopes - Copper prices edged lower on Wednesday, as rising expectations that China will ease COVID-19 controls next year were offset by a bleak short-term outlook for manufacturing and metals demand. - more

     Iron ore climbs as China vows to prioritise economic development - Iron ore prices rose on Wednesday as Chinese regulators assured investors that economic development remained a priority, while vowing to keep the domestic currency and property markets stable. - more
  • Global economic slowdown affects China's steel market - more
     Solway’s Ukrainian ferronickel plant halts production - As of November 01, 2022, the ferronickel producer Pobuzhsky Ferronickel Plant will halt production to prevent long-term economic losses because of the energy shortage. - more

     BHP says Australia well placed to gain from EV metals push in U.S., Europe - Australia is set to benefit from the growing interest in environmentally sustainable mining and minerals needed for decarbonisation, the chief of BHP Group's nickel operations said. - more

     EURANIMI appeals to the European General Court in Luxemburg against the EC’s decision to implement anti-dumping measures on imports of stainless-steel cold-rolled flat products originating in India and Indonesia  - pdf here

   Other News

  • Reuters The Day Ahead - pdf here
  • Maersk’s View on Global Economy Turns Sour - more
  • US manufacturers ‘pumped up’ about supply-chain reshoring trend - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Wednesday, November 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $10.66/lb ($23,410/tonne). Indicators at 6:00 am CST today show nickel trading around $.19/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just under the 51,600 tonne level. Nickel continues to roll higher, with Reuters crediting rumors of China dropping some of its COVID restrictions next year as the reason. We suspect its nearly all based on rumors and hopes of some sort, with equity markets betting the U.S. Fed will not raise rates as much as earlier feared in their next meeting. While the long term outlook for nickel is positive, the short term is less so, as is seen in the results of the poll of metals analysts below. The U.S. PMI is out, and while still above 50, it's just barely there. We are curious to see if this bull run, immediately following the LMEWeek meeting, is a change in the trend line - or just some enthusiasm burning itself out. One can never tell and we have seem LMEWeek jumps become a new trend, and we have seen similar movements die by December. Like you, we will wait to see how it works itself out. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $10.30/lb

  Reports

  • Reuters metals morning - Base metals climb on dollar weakness, supply crunch worries - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • Job Openings and Labor Turnover Summary - more
  • Global Economic Indicators: Global Manufacturing PMIs - pdf here
  • US Economic Indicators: Industrial Production - pdf here
  • US Economic Indicators: Durable Goods Orders & Shipments - pdf here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Tuesday's market review - China demand hopes boost industrial metals - Copper and other industrial metals prices rose on Tuesday as rumors that top consumer China could lift strict COVID controls next year raised hopes of stronger demand. - more

     POLL - Copper due to hold at weak levels as market swings to surplus - (excerpt) Analysts expect LME cash nickel (CMNI0) prices to average $20,250 a tonne next year, down around 7% from current levels. - more

     SunSirs: Raw Material Supply Problem Fermented, Stainless Steel Prices Rose in October - According to the price monitoring of SunSirs, the stainless steel price rose first and then fell in October. - more

     BASF says its battery material plant will be running by year-end -  BASF's new battery materials site in Schwarzheide, eastern Germany, will start production towards the end of the year, it said on Tuesday, as the chemicals group seeks to cater to a growing European electric vehicle (EV) industry. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Manufacturing activity remains in growth mode as sector’s dynamics start to shift, notes ISM - more
  • Euro zone factory downturn deepened in Oct as demand slumped - more

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more

Tuesday, November 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $9.88/lb ($21,785/tonne). Indicators at 6:00 am CST today show nickel trading around $.35/lb higher. Stockpiles of nickel store din LME approved warehouses fell on Monday and ended the month of October just over the 52,000 tonne level. Nickel is trading much higher this morning, following Shanghai's lead. Yesterday Shanghai nickel was down 3%, but LME paid little attention. Overnight Shanghai was trading over 4% higher, and LME bulls have decided to dance today. Yesterday we posted an article about Indonesia inviting Saudi Arabia to invest in nickel mining there, and today we carry a story about Saudi Arabia inviting Australia to invest in mining in that country. PMI numbers are out for October and so far, few that have been reported, are promising. US numbers are out later this morning. The story we posted yesterday about a potential 'nickel cartel' has exploded across the metals media, and would have made an interesting topic during LMEWeek had it been public then. It's the first day of the eleventh month of the twenty second year of the twenty third century. And it;s the unofficial beginning of the Christmas holiday season - although that seems to have started in August this year. We hope its a safe and successful day, month, season, and year for you.
  • Average price of LME traded cash nickel so far this month - $9.95/lb (average September)

  Reports

  • Reuters metals morning - Copper rises on weaker dollar as markets await Fed decision - more
  • Refinitiv Inside Commodities - pdf here
  • SMM Evening Comments - more
  • ING The Commodities Feed - daily here
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • A towering skyscraper in the central business district of Istanbul stands out as a striking example of Italian architectural design - more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Monday's market review - Copper falls on growing fears over Chinese demand - Copper prices fell on Monday as rising COVID-19 cases and weaker-than-expected manufacturing data in top consumer China raised concerns over demand weakness. - more

     Stainless resale values struggle to surpass mill prices - Stainless steel buying activity, in Europe, was weaker than anticipated, in October. Many market participants reported a slight improvement, month-on-month. - more

      Purchasing Prices of Ferrochrome Rose and Ferrochrome Plants were More Willing to Resume the Production - On November 1, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,500-8,700 yuan/mt (Cr50%) today, flat from the previous trading day. - more

     Never mind the Saudis: Here's a new OPEC for EV battery metals - Indonesia is looking to use its position as the nickel capital of the world to set up a cartel with other like-minded mining empires, similar to the way OPEC joins forces to control the global crude oil market. - more

   EV battery production faces supply chain, geopolitical headwinds - report - A fragile supply chain marred by geopolitical tensions could hit the planned expansion of electric vehicle (EV) battery production, slowing EV adoption, S&P Global Mobility warned in a report on Monday. - more

     Courtesy AISI - In the week ending on October 29, 2022, domestic raw steel production was 1,663,000 net tons while the capability utilization rate was 74.5 percent. Production was 1,836,000 net tons in the week ending October 29, 2021 while the capability utilization then was 83.2 percent. - more

      Saudi Arabia Courts Australian Miners for $170 Billion Plan - Saudi Arabia is seeking investment from Australian miners to support its $170-billion plan to build a mining industry and diversify its oil-dependent economy this decade. - more

   Other News

  Economic Stats and Prices (posted in Friday edition)

Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
  •   Слава Україні! - more


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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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