Stainless Steel News and Nickel Prices



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stainless steel daily news
Friday, July 1

    The United States celebrates its Independence Day on Monday, July 4th. Our next update will be Tuesday July 5th.

    Happy Canada Day to our northern neighbors!!

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $10.32/lb ($22,745/tonne). Indicators at 7:00 am CST today show nickel trading around $.28/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started the new month just under the 66,500 tonne level. For the first half of 2022, LME stockpile numbers are down 34,758 tonnes, and 4,974 of those tonnes were lost in June. That forecasted surplus that never came last year, can start showing up at anytime. Nickel closed the first trading day of 2022 at $21,095/tonne and looking at yesterday's close, one just arriving from Mars, might suspect the nickel market has been rather boring so far this year. And yet, looking at film clips of the beginning and ending of a race might tell you who started and ended the best, it does not tell the story of the race itself. And the first half of 2022 was a unique ride, to say the least. Lower material costs and lower demand are hurting steel mills around the world, especially in China and the EU. Everyone is worried about a potential recession and like personal relationships, we tend to make things happen by worrying they might. And there is the war. The Russians have proven once again that they are not part of the thousand points of light, but a nation sucking black hole. They have never learned how to earn the world's respect, so instead, they once again turn to the fear of nuclear devastation as their pass to terrorize their neighbors. If they want to live like barbarians, we suggest the world treat them as such. It's a new month, and the end of another week. Stay safe out there and have a great weekend. Happy Canada Day to our friends to the north, and Happy Fourth to our U.S. readers. See you next Tuesday.
  • Average price of LME traded cash nickel so far this month - $11.72/lb (average for June)

  Reports

  • Reuters metals morning - Copper stumbles to 17-month low as inflation data fans slowdown fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3318
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • The Macro Snapshot—updated and improved - more
  • China NBS Manufacturing PMI - more
  • Gross Domestic Product by State, 1st Quarter 2022 - more
  • Was the 2021-22 Rise in Inflation Equitable? - more
  • SMM Evening Comments - 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 sees sharpest quarterly plunge since 2011 - Copper prices fell on Thursday to log their biggest quarterly slump since 2011 as COVID lockdowns in China and slowing economic growth curtailed demand. - more

     Steel Mills Jointly Held the Prices Firm and the Spot Prices Rose Stably - On June 30, the decline of stainless steel spot prices slowed down. The base price of 304 from private companies in Wuxi and Fozhan stood at 17,200 yuan/mt. - more

     Inventory surge triggers rapid EU stainless price fall - Stainless steel buying activity, in Europe, has remained considerably weaker than anyone anticipated following the decline in April. - more

     India’s steel majors cut production as demand falls - Amidst anaemic demand, both locally and in the export market, the domestic steel majors have not just cut down their production, but advanced their maintenance shutdown work at some facilities to rein in the rising inventory and also to keep the plant future-ready, industry sources said. - more

     China’s steel sector PMI decreases in June - In June this year, the purchasing managers index (PMI) for the Chinese steel sector was at 36.2 percent, down 4.6 percentage points compared to May, as announced by the China Steel Logistics Committee, which is part of the China Federation of Logistics and Purchasing (CFLP). - more

   Other News

  Economic Stats and Prices

  • 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


June 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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