Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome
Daily Nickel/Stainless Steel Briefing
- Nickel closed Friday’s trading session at
$7.61/lb
($16,770/tonne) and Monday’s at$7.56/lb
($16,675/tonne). Indicators at 5:40 am CST today show nickel trading around $.08/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Friday to just over the 119,300 tonne level and on Monday, they backtracked to just under that same level. Shanghai nickel fell to 127,760 y/t on Monday and recovered partially to 128,810 y/t overnight. If bullish traders hoped to get a jump on the typically bullish September, they have given back much of their August gains already and the second trading day isn’t even over yet. Will be curious to see how the market reacts when North American traders enter the fray. It’s a new month and we are now in meteorological fall. Astronomical fall won’t begin until the 23rd this year. Stay safe out there and have a great month! - Average price of LME traded cash nickel so far this month – $7.37/lb (avg August)
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Reports
Shanghai Metals Market
Friday’s market review – Copper claws higher on China hopes, set for monthly gain – Copper prices gained on Friday on optimism about more government support for the economy of top metals consumer China… – more
- Monday’s market review – Aluminium hits 2-week low on weak Chinese data, momentum signals reverse – more
US stainless coil prices near bottom of cycle – Hot and cold rolled stainless steel coil prices in the United States will continue to move down with the mills’ published alloy surcharges in September. – more
India’s finished stainless steel products exports fall in H1 2024 – According to statistics, India’s exports of finished stainless steel products totaled around 355,000 tons in the first half of 2024, falling by 6% … – more
SunSirs: The Nickel Market Fluctuated in August – According to the monitoring of nickel prices by SunSirs, as of the end of the month, spot nickel was quoted at 131,666 RMB/ton, a monthly decrease of … – more
Walsin Lihwa raises stainless steel export price for Sep – Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, maintained the price of 200 series, 300 series, and 400 series products … – more
In New Caledonia, the iconic KNS nickel factory closes its doors – It was the flagship project for the development of northern New Caledonia. But due to a lack of buyers, Koniambo Nickel SAS ceased its activity… – more
Zambia to launch state investment firm for critical minerals – The proposed special purpose vehicle (SPV) is expected to be instrumental in Zambia’s investment in critical minerals. – more
Other News
- Roch Wamytan replaced – Major shift at New Caledonia’s Congress – more
- Russia Warns Kremlin Changing Nuclear War Policy in Response to West – more
- US dollar crisis coming soon, to crash economy and send consumer prices soaring, says Peter Schiff – more
Economic Stats and Prices (posted in Friday edition)
Why Stainless Steel
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Слава Україні! – more