LME nickel trading price

    US markets are closed on Thursday for the Thanksgiving holiday. Our next update will be Monday, December 1st. Happy Thanksgiving and have a safe and relaxing weekend. 

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones is reporting three month nickel closed Wednesday’s trading session at $7.47/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.09/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses came within sight of reaching a staggering total, but set a new record high none the less. Stockpiles began the day at 399,996 tonnes. On Feb 6, 2007, LME nickel stockpile totals bottomed out at 2,982 tonnes. By March 2009, totals had risen to hit the 100,000 tonne level. For 2010, levels would reach 166,476 tonnes, before falling back to below 100,000 tonnes in 2011. In July of last year, totals would reach the 200,000 tonne level for the first time. The 300,000 tonne level was cracked in June on this year. And now the 400,000 is merely four tonnes away.  We won’t be posting again until next Mondays, so we will miss it, if this peak is breached the next few days. The most recent bullish run that nickel prices have taken, appears to be in trouble, having stalled out on Monday and Tuesday, and sliding today.  
  • Average price of cash nickel so far this month – $7.08/lb
  • Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/lb
  • (USGS) Metal Prices in the United States Through 2010 – pdf here
  • Baltic Dry Index – (current) (chart)
  • Dollar trading graph – (chart of dollar index) (live java chart)
  • Bloomberg metals morning – Copper Falls to Three-Week Low Before U.S. Goods Report – more
  • Reuters metals morning – Copper falls to three-week low on demand worries – more

  Reports

  • U.S. Imports of Stainless Steel Mill Products – more
  • Reuters Metals Insider – pdf here
  • Commodities Daily – here
  • Commonwealth Daily Alert – pdf here
  • KBC Commodity Report – here
  • Angel Metals Fundamental Report – here
  • DNB Metals Weekly – pdf here
  • Mico Metals Weekly – pdf here  
  • Hedge Equities Commodity Report – pdf here
  • MacNicol Morning Notes – pdf here
  • Mangal Commodities Metals & Energy – pdf here
  • Danske Weekly Focus – pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index – 80.48
  • China Stainless Steel Scrap Market News / Price – more
  • Yieh Daily Asian Stainless Steel News – more
  • Gerdau Steel Market Update – more
  • European Debt Crisis Live – more
  • 100 Years of Stainless Steel – more
  • (SMM) There is no timetable for launching China’s first nickel contract on Shanghai Futures Exchange (SHFE), Shanghai Metals Market learns.
  • (SSY) Daily crude steel output at China Iron & Steel Association member mills edged higher to 1.642 Mt in the period 11-20 November. This compares with 1.635 Mt in the preceding 10 days, the lowest daily rate recorded this year, according to Reuters.
  • HKEx to launch thermal coal contract early next year – more

    BHP misses out to China’s Jinchuan on nickel pact – BHP Billiton’s struggling Nickel West smelter in Australia lost out on a potential key supply source of nickel when rival Jinchuan Group of China signed a purchase agreement with an Australian miner. – more

    Baosteel Stainless Steel Expects Nickel Price to Rise in 2015, SMM Interviews – Nickel price is expected to rise in 2015, one senior analyst said at 2014 SMM China Metals Summit on Nov. 23-24. – more

    Avebury Nickel Mine owners on verge of metallurgical breakthrough – The company working to reopen the mothballed Avebury Nickel Mine is on the cusp of a significant metallurgical breakthrough. – more

    Glencore-Rio Tinto merger “will happen”: top U.K. banker – A deal between commodity giants Glencore and Rio Tinto to create the world’s largest mining group appears inevitable, sector-merger expert Ian Hannam has said. – more

    TVI’s Philippine Affiliate JV To Ship Higher Grade Ore at Nickel DSO Operations and Commences Resource Update Drill Program at the Agata Nickel Laterite Project – TVI Pacific Inc. and TVI’s Philippine affiliate, TVI Resource Development, Inc., have announced that Agata Mining Ventures Inc. is modifying its high-iron/low nickel direct shipping ore operations to include shipments of ore containing higher nickel content to maximize revenues at the Agata nickel laterite project located in northern Mindanao, the Philippines. – more

    Palmer’s ‘sham document’ covered tracks – Clive Palmer knew he was misappropriating $12 million from a Chinese company because he created a “sham document” to cover his tracks, a court has heard. – 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
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