Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome
Daily Nickel/Stainless Steel Briefing
- Nickel closed Wednesday’s trading session at
$8.58/lb
($18,905/tonne). Indicators at 5:50 am CST today show nickel trading around $.05/lb 
higher. Stockpiles of nickel stored in LME warehouses rose on Wednesday and ended that session just over the 77,600 tonne level. Shanghai nickel rose to 143,820 y/t overnight. The bears and bulls appear to be fighting over the $19,000 tonne level and at the moment, the Euro is helping the bulls by sneaking higher. BHP made a takeover bid for Anglo American today, that will be interesting to watch as shareholders scramble to figure out what it means for their company. Stay safe out there and have a great day! - Average price of LME traded cash nickel so far this month – $8.15/lb
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Reports
Wednesday’s market review – Copper back on the rise despite lack of Chinese buyers – Copper resumed its upward momentum on Wednesday after a two-session pause, but traders said Chinese … – more
China’s stainless steel products imports, exports hike in Jan-Mar y-o-y – According to the report, China imported approximately 608,000 tons of stainless steel products from January to March, increasing by… – more
More Chinese Nickel Seen Flowing Overseas After LME’s Russia Ban – More Chinese nickel is expected to flow overseas after the London Metal Exchange banned new Russian supplies, according to Mysteel Global. – more
China crude steel production -7.8% on March, 2023 and -4.0% on Q1 2023 – Worldsteel reported crude steel production in China at 88.3 million metric tonnes in March, 7.8% lower than in March, 2023. – more
BHP Targets Anglo in Bid Valuing Miner at $39 Billion – BHP Group Ltd. proposed a takeover of Anglo American Plc that values the smaller miner at £31.1 billion ($38.9 billion), in a deal that would create the … – more
Five Eyes countries working to fight critical minerals dumping, Canada minister says – Canada and its Five Eyes Alliance partners are working on put forward a response to tackle the price manipulation of critical … – more
Will Indonesia’s New President Continue Nickel Policy, Which Undercuts Competitors? – When Indonesia’s new president, Prabowo Subianto, assumes office in October he’ll preside over the world’s biggest nickel … – more
Survey reveals strategies for addressing supply chain, logistics labor shortages – A talent shortage has dominated the conversation in multiple industries. The supply chain is no different. Back in January, …- more
Battery Recycling Shatters the Myth of Electric-Vehicle Waste – Are electric cars really that much better for the environment? With recycling, the question is a no-brainer. – more
Other News
- Corrosion Study on Duplex Stainless Steel UNS S31803 Subjected to Solutions Containing Chloride Ions – pdf here
- DOL will raise overtime salary threshold to $44K in July, $59K next year – more
- The History of Vaccines – more
Economic Stats and Prices (posted in Friday edition)
Why Stainless Steel
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