Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome
Our next update will be Friday, December 27th, when LME returns to trading. Merry Christmas!
Daily Nickel/Stainless Steel Briefing
- Nickel closed Monday’s trading session at
$6.98/lb
($15,385/tonne). Indicators at 6:00 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today reading just under the 162,050 tonne level. Shanghai nickel ticked lower to 124,860 y/t overnight. Just a reminder that the LME is closed tomorrow for Christmas and Thursday for Boxing Day. Stay safe out there and may you experience the happiest of holidays and merriest of Christmas’. - Average price of LME traded cash nickel so far this month – $7.05/lb
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Reports
Monday’s market review – Copper set for weekly fall on strong dollar, concerns about demand prospects – Copper prices remained close to a five-week low on Friday and were on track for a second consecutive … – more
In November, Cold-Rolled Stainless Steel Imports from Indonesia Fell by 30.7%…. – According to SMM statistics, China’s stainless steel imports in November 2024 totaled 137,100 mt, down 17.93% MoM from … – more
- GACC: China’s stainless scrap imports drop in November – more
- China’s steel sector is not as gloomy as it appears – more
Will new import tariffs boost US stainless steel sector? – A global pandemic and international conflicts lessened the long-term effects of Donald Trump’s Section 232 tariffs on stainless steel imports into the … – more
November 2024 crude steel production – World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 146.8 million tonnes (Mt) in November 2024, a 0.8% increase … – more
Viewpoint: Securing steady Ni ore supply the new focus – Nickel ore supply security has become a main focus for investors and smelters after the delayed approval of Indonesian nickel mining work plans (RKABs) … – more
A year when base metals bulls got a Chinese reality check: Andy Home – Andy Home
Base metals started 2024 in a cautious mood but turned exuberant in the second quarter as bullish funds bet that economic recovery in China and global energy transition would generate a super-charged demand surge. – more
Russian stainless steel imports decline in Jan-Jul – Russia’s National Special Steel Association (USSA) stated that Russia imported around 258,000 tons of stainless steel from January to July, a year-on-year … – more
Courtesy AISI – In the week ending on December 21, 2024, domestic raw steel production was 1,690,000 net tons while the capability utilization rate was 76.1 percent. Production was 1,705,000 net tons in the week ending December 21, 2023, while the capability utilization then was 74.2 percent. – more
Other News
- Layoffs hit more than 900 workers tied to freight industry across US – more
- Metal service centers: Friend or foe? – more
- US Consumer Confidence Pulled Back in December – more
Economic Stats and Prices (posted in Friday edition)
Why Stainless Steel
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Слава Україні! – more