Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome
Daily Nickel/Stainless Steel Briefing
- Nickel closed Wednesday’s trading session at
$7.89/lb
($17,405/tonne) and Thursday’s session at$7.84/lb
($17,280/tonne). Indicators at 6:50 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel rose both Wednesday and Thursday and started today’s session just over the 97,250 tonne level. Shanghai nickel fell on Thursday to 137,590 y/t and rebounded last night, to 138,090 y/t. Nickel is trading this morning just a little higher than where it ended Wednesday. US markets reopen today after their Independence Day holiday, but only for those who did not take an extended weekend. Stay safe out there and have a great weekend! - Average price of LME traded cash nickel so far this month – $7.76/lb
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Reports
Thursday’s market review – Copper prices steady – Copper prices were steady on Thursday as investors’ balanced optimism over potential US interest rate cuts with concern about high inventories and … – more
Nickel’s downward trend persists in H2 with potential buffers cushioning fall – BMI – BMI (a unit of Fitch Solutions) is maintaining its nickel price forecast for 2024 at $18,000/tonne, as excess supply continues… – more
Tin outperforms as broader base metals rally falters: Andy Home – The London Metal Exchange (LME) Index hit a two-year high in May when funds surged into base metals, chasing a narrative of … – more
Nickel, copper: A tale of two metals will determine the future of energy – Nickel and copper have long been recognized as vital components of a decarbonized economy. – more
Analysis of Ferrochrome Prices in the First Half of 2024 – In 2024, although ferrochrome prices are operating around high-cost levels, the continuous rise in chrome ore consumption has made it difficult to … – more
- China’s stainless steel prices in Jul expected to show volatile trend – more
- China’s stainless steel to fluctuate within narrow range in upcoming week – more
LME plans to suspend nickel brand of Nornickel’s Finnish plant from Oct 3 – The London Metal Exchange (LME) will suspend the listing of a nickel brand produced by a plant in Finland owned by Russian … – more
- LME volumes hit 10-year high in second quarter, led by nickel – more
BHP cuts employee incentives after missing its performance goals, AFR reports – BHP Group has notified tens of thousands of its workers across the globe that it was cutting their incentive pay after the miner … – more
Vale picks mining veteran to lead base metals turnaround – Vale has selected veteran mining executive Shaun Usmar to take the helm of its base metals division as the Brazilian metals producer seeks to …. – more
Steel HRC prices flat in Europe; trading slows further ahead of summer break – European prices for steel hot-rolled coil have stayed broadly flat amid quiet trading, with buyers questioning the likelihood of … – more
Jindal Stainless Supplies Steel for 100 Freight Wagons to Mozambique – Jindal Stainless, India’s largest stainless steel manufacturer, recently supplied stainless steel to manufacture 100 ‘Made in India’ freight… – more
About 50% Of Jobs Will Be Displaced By AI Within 3 Years – The Beijing startup founded by technology pioneer Kai-Fu Lee is introducing its first artificial-intelligence application for consumers, a step aimed … – more
Other News
- ‘It’s just a nightmare’: More and more USAA members who lost thousands of dollars are sharing stories of fraud – more
- ‘Truly concerned’: Pacific Islands Forum on France’s handling of New Caledonia crisis – more
- Chinese ‘Falcon 9 equivalent’ rocket accident ‘a rookie mistake’ – more
- Belarus to Join So-Called “Anti-NATO” SCO – more
Economic Stats and Prices (posted in Friday edition)
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Why Stainless Steel
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Слава Україні! – more