Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome
Daily Nickel/Stainless Steel Briefing
- Nickel closed Monday’s trading session at
$7.38/lb
($16,260/tonne). Indicators at 5:20 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses jumped on Monday and started today’s session just over the 68,450 tonne level. Shanghai nickel rose to 125,750 y/t overnight. Industry news picked up and we have linked to it below. Stay safe out there and have a great Tuesday! - Average price of LME traded cash nickel so far this month – $7.30/lb
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Reports
Monday’s market review – LME copper cash to three month discount hits highest since 1992 – The discount for the cash copper contract against the benchmark three-month contract on the London Metal …. – more
Stainless steel melt shop production increased by 2.5% year–on–year to 42.6 million metric tons in the first 9 months of 2023 – The world stainless association has released figures for the first nine months of 2023 …. – more
Nickel investments in Indonesia may slow on falling prices, geopolitical risk | 2024 preview – The pace of Chinese companies’ heavy investments in Indonesian nickel may slow in the new year … – more
This billionaire used Indonesia’s nickel to squeeze out Australia – Indonesia’s ban on unrefined ore exports is loathed by competing producers and in breach of trade rules, but it is popular at home where… – more
ISSDA: India’s stainless steel MSMEs impacted by dumping imports from China – Rajamani Krishnamurti, the president of the Indian Stainless Steel Development Association (ISSDA), said that nearly… – more
Administrators suspend Savannah nickel operations, 140 redundancies – The administrators of Panoramic Resources has announced the suspension of operations at the Savannah nickel project, … – more
89 FR 902 – Stainless Steel Sheet and Strip in Coils From Taiwan: Final Results of Antidumping Duty Administrative Review and Final Determination – more
Courtesy AISI – In the week ending on January 6, 2024, domestic raw steel production was 1,707,000 net tons while the capability utilization rate was 76.9 percent. Production was 1,680,000 net tons in the week ending January 6, 2023 while the capability utilization then was 75.2 percent. – more
Mining firms in Homonhon Island pay P182.6-M excise tax – The national government has earned PHP182.6 million in excise tax in 2023 from the mining operations of two firms in Homonhon Island …. – more
Leaks on the rise at China’s mining waste dumps – China has seen a “marked increase” in environmental emergencies involving tailings ponds, according to the country’s top environmental watchdog,….. – more
Other News
- U.S. Steel Acquisition Proposal Tests Biden’s Industrial Policy – more
- The Biden Administration Unveils the Long-Waited Guidance on “Foreign Entity of Concern” – more
- German fabricators bemoan doubling of grid fees – more
Economic Stats and Prices (posted in Friday edition)
Why Stainless Steel
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