Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome

  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday’s trading session at

    $10.27/lb

    ($22,650/tonne). Indicators at 6:00 am CST today show nickel trading around $.15/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today’s session, just under the 66,100 tonne level. Nickel continues its see saw trading action, with recession fears overshadowing supply concerns. Another busy day on the news front, so we leave you with it. Stay safe out there and have a great hump day!

  • Average price of LME traded cash nickel so far this month – $10.02/lb

  Reports

  • Reuters metals morning – Copper tumbles to near 20-month low as recession fears grip market – more
  • Refinitiv Inside Commodities – pdf here
  • ING The Commodities Feed – daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) – $.3067
  • 304 SS Scrap Prices Local

    (updated bi-weekly)

    – more

  • US Economic Indicators: Durable Goods Orders & Shipments – pdf here
  • SMM Evening Comments – more

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) – more
  • SHFE Nickel Futures (yuan) – more
  • SHFE Inventory

    (updated each Friday)

    – more

  • Shanghai Jinchuan nickel price –  here

  London Metals Market

  • Yesterday’s LME official prices here
  • LME nickel chart – here 

    Tuesday’s market review – Copper lurches to 19-month low as dollar jumps, speculators flee – Copper prices crumbled to their lowest in 19 months on Tuesday after the dollar surged, drawing investment flows away from commodities as fears of recession continued to swirl. – more

      Global copper and nickel smelting slips in June, satellite data shows – Global copper smelting activity declined in June, hit by a stoppage in top producer Chile, data from satellite surveillance of metal processing plants showed on Monday. – more

     Stainless Steel Sheet and Strip From the People’s Republic of China: Final Results of Expedited Sunset Review of the Antidumping Duty Order – As a result of this expedited sunset review, the U.S. Department of Commerce (Commerce) finds that revocation of the antidumping duty (AD) order on stainless steel sheet and strip (SSSS) from the People’s Republic of China (China) would be likely to lead to continuation or recurrence of dumping at the levels indicated in the “Final Results of Review” section of this notice. – more

    German steel market less bearish on pricing, expects production cuts: survey – more

     Industry expects China to announce 2%-3% reduction in 2022 crude steel output – China is likely to announce a 20 million-30 million mt, or 2-3% year on year, decline in its steel output cut target for 2022 in July, according to industry sources. – more

     India imports large amount of stainless steel from China in recent years – In recent years, India’s stainless steel imports have increased significantly, especially from Indonesia and China. – more

     Courtesy AISI – In the week ending on July 2, 2022, domestic raw steel production was 1,767,000 net tons while the capability utilization rate was 80.9 percent. Production was 1,849,000 net tons in the week ending July 2, 2021 while the capability utilization then was 83.4 percent. – more

     Russia’s Potanin weighs $60 billion metals merger as defence against sanctions – Russian businessman Vladimir Potanin has said he is ready to discuss a possible merger between his mining group Nornickel and aluminium producer Rusal, a move that could strengthen their defences against any possible Western sanctions against them. – more

  • War helps Russian nickel king expand his realm – more

   Other News

  • Reuters The Day Ahead – pdf here

  Economic Stats and Prices

  • U.S. Steel Import Monitor – here
  • SIMA Melt & Pour Dashboard – here
  • US Economy At a Glance – more
  • US Economic Indicators – more
  • US Economic Activity – (every Monday) – pdf here
  • US Fed NY Weekly Economic Index – more
  • FX Street Economic Calendar – more
  • Iron Ore Price Graph – 1  2  3 
  • India MCX Nickel Price – more
  • Baltic Dry Index – chart
  • COVID By The Numbers – here
  • How is your state faring? – more
  • What time is it in….? – more
  • Euro/US Dollar chart – here
Why Stainless Steel

  • Alloyed for Lasting Value video – here
  • Self Repairing for Lasting Value video – here
  • 100 Years of Stainless Steel Video – here
  • Stainless steel: The role of nickel – here
  • The Life of Nickel – pdf here
  •   Слава Україні! – more