Stainless Steel News and Nickel Prices

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Friday, October 11

LME nickel prices  Abridged Friday Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Thursday's trading session at $7.99/lb ($17,625/tonne). Indicators at 8:00 am CST today show nickel trading around $.02/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and start the day under the 100,000 tonne for the first time since 2012. Stockpiles opened just under the 98,600 tonne level. President Trump is reportedly meeting Chinese head negotiator later today, raising hopes for a possible end to the trade war. Have a safe and relaxing weekend!
  • Average price of LME traded cash nickel so far this month - 
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper touches 2-week high on hopes of partial trade deal - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • World Mining Magazine Oct 2019 - here
  • Canadian Mining Journal Oct 2019 - here

     Thursday's market review - Industrial metals rise as U.S.-China trade talks begin - Copper prices rose on Thursday amid signs that U.S.-China trade talks in Washington could de-escalate a dispute that has weighed on economic growth and metals prices. - more

      Prices of Cr-base SST HRC in Asia May Bottom Out at $1,000 - According to a source, the prices of chromium (Cr) -base stainless steel (SST) hot-rolled coil (HRC) seem to have bottomed out at about $1,000 FOB in Asia. - more

      PNG's Ramu nickel mine mismanaged waste - probe - The Ramu nickel mine in Papua New Guinea's Madang province has been found to have mismanaged toxic waste it dumps into the sea. - more
  • Expert says lab results from PNG Ramu nickel spill 'alarming' - report
  • How do miners dispose of their waste in the sea? - more

      Niagara steel production gets major boost - After a tumultuous period of uncertainty in Canada's steel industry, a recent announcement by ASW Steel in Welland has provided encouraging signs of growth and prosperity in the Niagara area. - more


Thursday, October 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Wednesday's trading session at $7.87/lb ($17,360/tonne). Indicators at 6:20 am CST today show nickel trading around $.13/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just under the 102,700 tonne level. Cancelled warrants have fallen from a recent high of 65% to just over 50% yesterday. Nickel opened sharply higher this morning, while SMM nickel hardly moved overnight. Some of nickel's bounce this morning can be credited to a rebounding Euro. According to China, lower level talks between China and the US deputies has accomplished little over the past few days, but higher level trade negotiations begin today. While everyone hopes an end can be found to the 15 month long trade war, higher tariff's are scheduled to be implemented next week if no agreement is reached. In sports, not since St Louis, Missouri resident William T Sherman visited Atlanta in 1864, and burned much of it to the ground, has St Louis inflicted so much damage on this Georgia city.  Cardinals 13 Braves 1. Brutal 1st inning! 
  • Average price of LME traded cash nickel so far this month - $8.04/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper advances despite mixed U.S.-China trade expectations - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Trump lost leverage on China and North Korea: former Obama aide - more
  • St George confirms nickel discovery at Radar Prospect in Western Australia - more
  • Stocks Whipsawed Before Trade Talks; Dollar Slumps: Markets Wrap - more

     Wednesday's market review - Copper stabilises, focus on U.S.-China trade talks - Copper held steady on Wednesday before high-level talks between China and the United States but low expectations for a swift end to the prolonged trade dispute kept prices in a tight range. - more

      LME stocks grab feeds nickel's raging bull fires: Andy Home - Where is all the nickel going? London Metal Exchange (LME) stocks of nickel are falling at an unprecedented rate. - more

      Philippines lifts suspension on nickel-miner Zambales Diversified -  The Philippines’ Department of Environment and Natural Resources has lifted the suspension of nickel-miner Zambales Diversified Metals Corp, DMCI Holdings Inc said in a regulatory filing on Thursday - more

      Case AS660 - Stainless steel hot-rolled flat products from China Trade Investigation Initiated - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

October Archives


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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 7 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.



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