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

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Monday, November 30

• Three month nickel closed Friday’s trading session at $3.98/lb . Indicators at 6:00 am CST today show 3 month nickel trading flat, and holding below the $4/lb level. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over the 408,350 tonne level. SMM reports that nickel ore stockpiles held at six major Chinese ports rose last week by 20,000 tonnes to total 10.05 million tonnes. China nickel producers announced a cut for December, but the market is unsatisfied with the numbers being discussed and so far nickel’s reaction was short lived. The $4/lb level seems to be giving the market a psychological line of resistance.
• Average price of cash nickel so far this month – $4.20/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – China output cuts fail to energise copper; dollar weighs – more

  Reports

• U.S. Imports of Stainless Steel Mill Products – more
• TD Commodity Price Report – pdf here
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• EU appeals against WTO compliance ruling – more

    Nickel’s hiatus may be brief without output cuts, stronger demand – Nickel’s spectacular fall since the middle of last year may have come to a halt, but without significant, enduring output cuts and stronger demand from China’s stainless steel mills the reprieve could be brief. – more

    Nickel drops despite Chinese plan to cut output by 20pc – Nickel fell for the first time in four days after smelters in China vowed to curtail output from next month, underscoring skepticism among investors on whether cutbacks by the world’s biggest producer are able to make a dent in the global glut. – more

    Stainless steel scrap prices plummet on falling nickel prices – The falling scrap demand from mills along with sharp decline in nickel prices have resulted in huge decline in stainless steel scrap prices during the month of October this year. The market participants from stainless steel sector had earlier predicted that no further fall in prices is expected before the year end. – more

    Ni SUS Scrap Purchase Price Down by JPY5,000 – JPY10,000 Due to Cheap Ni = Price is kept as it is in some areas by putting priority on cargo procurement = Owing to the continuously-declining nickel price, the respective stainless steel mills decided to reduce the purchase price for nickel-containing stainless steel scrap (SABOT) by JPY5,000 – JPY10,000 per ton (delivered at Factory). – more

    Minnesota prepares for legal fight over PolyMet mine – Whether the controversial PolyMet mine gets built in Minnesota’s Iron Range will likely come down to how it affects the environment. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, November 25

• Three month nickel closed Tuesday’s trading session at $3.99/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb lower, as bulls begin to lose gas. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just under the 411,850 tonne level. Nickel traders got a boost yesterday on news Chinese nickel producers are scheduled to discuss potential production cuts on Friday. That momentum appears to be waning today. US markets are closed tomorrow for Thanksgiving and our next update will be on Monday, November 30th. Have a safe and relaxing weekend, and Happy Thanksgiving!
• Average price of cash nickel so far this month – $4.23/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Nickel leads rebound in Shanghai amid talk of possible output cuts – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Mining Stocks: What If Metal Prices Don’t Rally? – more

    If China Killed Commodity Super Cycle, Fed to Bury It – For commodities, it’s like the 21st century never happened. The last time the Bloomberg Commodity Index of investor returns was this low, Apple Inc.’s best-selling product was a desktop computer, and you could pay for it with francs and deutsche marks. – more

    China Nickel Makers Said to Weigh Output Cuts to Fight Rout – Nickel makers in China including Jinchuan Group Co., the country’s largest supplier of refined metal, plan to gather on Friday to discuss measures to respond to the lowest prices in 12 years, including possible cuts to supply, according to people with knowledge of the event. – more

    Nickel Hits a 12-Year Low, Which Metal Next? – Copper and nickel tumbled to multi-year lows and oil extended losses on Monday as commodities bore the brunt of another selloff, reflecting growing worries over China’s economic fate and a strengthening dollar. – more

    Stainless steel consumption in Russia decreased by 10.6% – According to Spetsstal, the volume of stainless steel consumption in Russia over period from Jan till Sep 2015, compared to the equal time interval in 2014, decreased by 10.6% to 245.1 thousand tons. – more

    Metals Bears Take a Rest as Nickel Rebounds From 12-Year Low – Nickel rebounded from the lowest level in more than a decade as most industrial metals rose on speculation the slump encouraged some traders to close out bearish bets. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, November 24

• Three month nickel closed Monday’s trading session at $3.73/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.06/lb higher, but an earlier bullish run has apparently lost some gas and the price is off earlier highs. Stockpiles of nickel stored in LME approved warehouses fell on Monday, and now total just under 412,000 tonnes.  Reports that Turkey shot down a Russian jet this morning has traders eyeing world events nervously. European markets are down sharply and havre struggled to find their footing since the Paris terrorist attack over a week ago. This attack drove the US Dollar higher, which is pressuring the base metals markets.
• Average price of cash nickel so far this month – $4.26/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper sits near 6-yr low, dollar lends support – more
• Bloomberg metals – Nickel Rebounds From Lowest Since 2003 as Base Metals Rally – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Indian Ocean Dipole over and out for 2015 – more

    Nickel prices hit 2003 lows as supply glut, Fed hike remain in focus – Three month LME nickel prices slumped to their lowest level since 2003 as prices extended declines for a sixth straight session. – more

    Steel stumbles to near record low as China demand cools – Shanghai steel futures languished near a record low on Tuesday amid cooling Chinese demand, putting more pressure on raw material iron ore that is only a tad off a seven-year trough. – more

    Sudbury watches as nickel slides even further – Base metals — including nickel — fell to multi-year lows on Monday on worries that a surge in the U.S. dollar will deter producers from making supply cuts in a market battling poor demand, especially in top user China. – more

    Courtesy AISI – In the week ending November 21, 2015, domestic raw steel production was 1,562,000 net tons while the capability utilization rate was 65.3 percent. Production was 1,856,000 net tons in the week ending November 21, 2014 while the capability utilization then was 77.2 percent. The current week production represents a 15.8 percent decrease from the same period in the previous year. Production for the week ending November 21, 2015 is down 2.4 percent from the previous week ending November 14, 2015 when production was 1,601,000 net tons and the rate of capability utilization was 67.0 percent.

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, November 23

• Three month nickel closed Friday’s trading session at $3.93/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.17/lb lower in very choppy trading. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over the 412,550 tonne level. SMM reports stockpiles of nickel ore at six major Chinese ports rose by 60,000 tonnes last week and now total 10.03 million tonnes. Nickel prices are being brutalized by a stronger US Dollar and overall market pessimism in base metals.
• Average price of cash nickel so far this month – $4.29/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Metals sag to multi-year lows on China demand woes, stronger dollar – more
• Bloomberg morning – Deepening Metals Rout Sends Copper Below $4,500 as Nickel Slumps – more

  Reports

• The Collapse of Commodities in One Simple Chart – more
• Commodity Fair Play v. Universal Dumping – more
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• UN says El Niño getting worse in Pacific – more

    Selloff From Oil to Metals to Crops Halts Global Rally in Stocks – A deepening slump in commodities put an end to a five-day rally in global stock markets and dragged down currencies of raw-material-producing nations. – more

    More pain for miners as metal prices whacked – Mining and commodities companies are once again getting slammed as metals prices take yet another beating. This is becoming an all too familiar – and painful – tale.- more

    Prices for Base Metals Plummet – Copper and nickel hit six- and 12½-year lows as China demand slows and dollar strengthens – more

     Vale to shut nickel smelting and refining operations in Manitoba, Canada – Brazil-based mining company Vale has announced plans to shut its nickel smelting, as well as refining operations in Manitoba, Canada. – more

    October 2015 crude steel production – World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 134 million tonnes (Mt) in October 2015, a -3.1% decrease compared to October 2014. – more

    China non-ferrous metal production slows in October – China’s production of 10 major non-ferrous metals last month grew at a slower pace than a year ago, the top economic planner said Saturday. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, November 19

• Three month nickel closed Wednesday’s trading session at $4.08/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.01/lb higher and off earlier session lows. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 415,450 tonne level. Nickel traded below the $4/lb level yesterday , to hit its lowest level since July 2003. Miners in New Caledonia are on strike today, protesting a governments on again, off again ban of ore exports. China cuts its lending rate overnight. And the Europeans are following US markets yesterday and sending a signal they like the US Fed hinting it may raise interest rates next month. It’s a Catch-22 for the markets when it comes to interest rates, but the market appears to be looking to the Fed to send a signal that it has some confidence in the economy. Our next update will be Monday. Have a safe and relaxing weekend!
• Average price of cash nickel so far this month – $4.34/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper sinks to six-year lows as China worries persist – more
• Nickel Trades Near 12-Year Closing Low as Chinese Demand Slows – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Iron Ore Bludgeoned to Record Low in Asia on China Steel Concern – more

    Strike hits New Caledonia’s SLN nickel plant – Reports from New Caledonia say hundreds of workers of the SLN nickel company have gone on strike and blocked access to the plant. – more

    Fitch InterView: China Steel Production Capacity to Peak in 2016 –  Fitch Ratings today says that China’s steel production capacity is likely to peak in 2016, with capacity elimination over the next five years likely to outpace additions. – more

    Nickel Smelter Developers Shelve Indonesia Projects Amid Credit Squeeze – Nickel smelter developers are putting projects on hold as they struggle to get financing with metal prices near their lowest in more than a decade, industry and government stakeholders said on Wednesday. – more

    Western Areas power restored – Grid power has been restored to nickel miner Western Areas’ Forrestania operations, in Western Australia. – more

    Citigroup Says Commodity Markets Yet to Price In Rate Hike – Think the global commodity markets have fully priced in prospects for higher U.S. interest rates this year? – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, November 18

• Three month nickel closed Tuesday’s trading session at $4.13/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.01/lb lower, and looking for a bottom. Stockpiles of nickel stored in LME approved warehouses rose for only a third time this month and now total just shy of the 415,900 tonne level. Nickel fell sharply yesterday, and after a stronger opening, looks to be struggling again today.
• Average price of cash nickel so far this month – $4.36/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper veers towards new lows on waning China demand – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• China’s Economy Faces Considerable Downward Pressure, Xi Says – more

    Indonesia Targets ‘at Least’ 7 New Nickel Smelters in 2016 – Indonesia plans to build “at least” seven new nickel smelters next year, a mining ministry official said on Wednesday, adding to the eight it targets to be operational this year.- more

    New Caledonia Government Rejects Nickel Exports To Japan – The New Caledonian government has declined a bid by the SLN nickel company to be allowed to export one million tonnes of low-grade ore to Japan. – more

    Bushfire halts Western Areas mine – Nickel miner Western Areas faces 48 hours without mill operations at one of its mines after bushfires took out power lines north of its Forrestania operations. – more

    Ni SUS Scrap Purchase Price in Early Nov Held Unchanged at around JPY125,000 = Hesitant price cut due to small occurrence of SABOT = The purchase price for nickel-containing stainless steel scrap (SABOT) in November by the stainless steel mills in the Kanto area started with around JPY125,000 per ton (delivered at factory), unchanged from October. – more

    BCL looks to import nickel concentrates – Speaking at a ceremony to honour long-serving workers and retirees, Mahupela said BCL is now eyeing to penetrate the market in Sub-Saharan Africa to ensure a sustained life of the mine and the livelihoods of the people. – more

    Minnesota governor consider PolyMet health impact study – That Dayton administration is looking into whether the health of northeast Minnesotans should be included in a decision about allowing a copper-nickel mine to open. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, November 17

• Three month nickel closed Monday’s trading session at $4.23/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 412,950 tonne level. That’s actually an important number, although its impact on the market will be muted. At the beginning of this year, LME stockpiles were recorded at 414,900 tonnes. Today is the first day this year, that stockpiles have fallen below that level. That is also 57,420 tonnes off the all time high reached on June 3rd (470,376 tonnes). Nickel is trading in ground not seen since the depths of the Great Recession.
• Average price of cash nickel so far this month – $4.38/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper drops to lowest in more than six years, China in focus – more

  Reports

• Safe Food Preparation Using Stainless Steel – pdf here
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (Tweet) The global nickel market recorded a surplus of 8,300 T in Sept, down from a revised surplus of 8,400 T in Aug, according to INSG
• Iron Ore Sinks to Four-Month Low on Fragile Global Market – more
• China’s Metal Fastener Output Exceeds 6.67 Million Tons from Jan.-Sept. – more

    China’s Production of SUS Crude Steel in Jan-Sept 16.13 Mil. Tons = Up by 1% from year-earlier period and increased production of 200 series balances out = Stainless Steel Council of China Special Steel Enterprises Association announces China’s production of stainless crude steel in the period from January to September was 16.1304 million tons, up by 0.7% from the year-earlier period. – more

    Shipments Decline Continues – Shipments declined from 2014 levels in October for both steel and aluminum in the United States and Canada at faster rates than last month. Inventories declined for steel in the United States and Canada. – more

    Courtesy AISI – In the week ending November 14, 2015, domestic raw steel production was 1,601,000 net tons while the capability utilization rate was 67.0 percent. Production was 1,856,000 net tons in the week ending November 14, 2014 while the capability utilization then was 77.2 percent. The current week production represents a 13.7 percent decrease from the same period in the previous year. Production for the week ending November 14, 2015 is down 1.1 percent from the previous week ending November 7, 2015 when production was 1,618,000 net tons and the rate of capability utilization was 67.7 percent.

    Environmentalists want anti-PolyMet Minnesotans to stay involved – Environmentalists say the Dayton administration has failed to adequately vet a proposed Iron Range copper-nickel mine and they want thousands of Minnesotans to let state officials know how they feel. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, November 16

• Three month nickel closed Friday’s trading session at $4.28/lb  . Indicators at 6:20 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday last week and now total just over the 416,000 tonne level. SMM reports nickel ore stockpiles held at six major Chinese ports rose last week by 10,000 tonnes and now total 9.97 million tonnes. The terrorist attack over the weekend on Paris has markets acting nervous and guarded today. Nickel bounced off major support on Friday and has yet to surrender any of those gains, albeit minor. The Euro is lower, adding negative pressure on base metals trading.
• Average price of cash nickel so far this month – $4.39/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Demand fears push copper to 6-year low – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Euro Nears Six-Month Low as Paris Attacks Stoke Economic Concern – more

     ‘Huge impact’ on nickel and hogs in index shuffle – The annual reweightings of the two main commodity indexes may give a “significant” boost to nickel prices and push up hog futures, Societe Generale said in a report. – more

     Iron Ore Crisis Could Be Followed By A Nickel Crisis For BHP Billiton And Vale – The last thing two of the world’s biggest mining companies, BHP Billiton and Vale , need today is speculation that after the disaster at their jointly owned Samarco iron ore mine in Brazil they might also have to close big nickel-mining operations to stem a tide of heavy losses. – more

    Commodity producers may be better bet in any demand recovery: Russell – Let’s assume that you are a somewhat contrarian investor and take the view that the recent slump to fresh lows in commodity prices, and the share prices of producers, is a sign that a turnaround is coming in 2016. – more

    Sumitomo Metal Mining’s Ni Production and Sales volumes in Apr-Sept = Production volume is 42,478 tons, up by 10% from year-earlier period = On November 10, Sumitomo Metal Mining Co., Ltd. announced its consolidated business results in the period from April to September in 2015. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, November 12

• Three month nickel closed Wednesday’s trading session at $4.39/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.08/lb lower, and yet to find a bottom for the day. Stockpiles of nickel stored in LME approved warehouses had a second day of minor changes, giving up some of the tiny gain made yesterday, Stockpiles now total just over the 418,728 tonne level. The Euro is down this morning after European Central Bank President Mario Draghi  hinted further stimulus may be needed in Europe. The US Federal Reserve will be on parade today, with numerous speakers out and about, and investors will be looking for clues on future rate increases. Our next update will be on Monday, November 16th. Have a safe and relaxing weekend.
• Average price of cash nickel so far this month – $4.44/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper holds near 6-yr low as weak China keeps up pressure – more

  Reports

• Damstahl Stainless Steel Report – November 2015 – pdf here
• worldsteel 2015 Steel Statistical Yearbook now available online – pdf here
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SSY) China’s crude steel output in October was virtually flat compared with September, but fell 3.1% year-on-year in October to 66.1 Mt, according to data from the National Bureau of Statistics

    China’s cashed-up Jinchuan unit seeks copper, nickel assets – A Hong Kong-based unit of China’s Jinchuan Group is hunting globally for quality copper and nickel assets, leveraging its access to capital at a time when Western rivals are finding it hard to secure finance, its chief executive said. – more

    LME volumes fall 3 pct in Jan-Sept amid price slide – Trade volumes on the London Metal Exchange (LME) fell 3 percent in the first nine months of 2015 compared to the same period last year due to a slowdown in global growth and weak commodity prices, the LME’s Chinese owners said on Wednesday. – more

    Low metal prices pull down Nickel Asia’s net income in January-September – Listed mining firm Nickel Asia Corp. (NAC) reported a decline in attributable net income (net of minority interests) at P2.49 billion in January to September from P7.98 billion last year. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, November 11

• Three month nickel closed Tuesday’s trading session at $4.32/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb lower, and trending lower, yet again. Stockpiles of nickel stored in LME approved warehouses gained ever so slightly yesterday and now totals just over the 417,750 tonne level. Markets continue to be quiet as commodities continue to slump.
• Average price of cash nickel so far this month – $4.45/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper teeters near 6-yr low, markets eye China data – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here

    US Stainless Steel Market Roundup From MEPS – Business remains slow for hot rolled coil and plate, in the United States, according to MEPS. Demand from the energy sector is weak. – more

    Stainless steel confirmed as safe for food preparation – The continuing safety of using stainless steel in food preparation has been confirmed in an independent study following the introduction of new test criteria in Europe. – more

    China’s steel exports down 20% MoM in Oct – China, the world’s largest steel producer, saw its crude steel output decline around 20% year on year to 9.03 million tons in Oct, according to the latest statistics released by the China Iron and Steel Association (CISA). – more

    An emergency meeting to discuss the crisis in the steel industry is to be held – An emergency meeting to discuss the crisis in the steel industry is to be held by European economy ministers at the request of the UK. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, November 10

• Three month nickel closed Monday’s trading session at $4.34/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.01/lb lower, but off earlier morning lows. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over 418,700 tonne level. Yesterday’s drop of 5,472 tonnes put stockpile numbers only 3,816 tonnes ahead for the year. Today’s total is 51,660 tonnes lower than June 4th’s record high of 470,376 tonnes. Sentiment for commodities remains strained and the Euro is trading lower today, adding more negative pressure on prices.
• Average price of cash nickel so far this month – $4.46/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper heads for six-year low on China, dollar drag – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (NFIB) NFIB’s Small Business Optimism Index was was unchanged in October, posting no change after a rise of only 0.2 points in September and a gain of only 0.5 in August..
• Six months of El Niño—event still going strong – more

     Charting the Markets: It’s the China and Fed Show Again – The data disappointments from China keep coming. Consumer prices rose a weaker-than-forecast 1.3 percent in October from a year earlier. – more

    Norilsk Nickel reduces 9-month nickel production by 3.05% – In January-September 2015, PJSC MMC Norilsk Nickel reduced nickel production by 3.05% to 193.754 thousand tonnes from 199.849 thousand tonnes the year before, the company informed. – more

    Courtesy AISI – In the week ending November 7, 2015, domestic raw steel production was 1,618,000 net tons while the capability utilization rate was 67.7 percent. Production was 1,856,000 net tons in the week ending November 7, 2014 while the capability utilization then was 77.2 percent. The current week production represents a 12.8 percent decrease from the same period in the previous year. Production for the week ending November 7, 2015 is down 1.4 percent from the previous week ending October 31, 2015 when production was 1,641,000 net tons and the rate of capability utilization was 68.6 percent.

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, November 9

• Three month nickel closed Friday’s trading session at $4.35/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb lower, but appears to in a sideways trend at the moment. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over the 432,500 tonne level. For those with superstitions, the S&P 500 bottomed out in the Great Recession at a reading of 666. Friday’s withdrawals of nickel totaled 666 tonnes. Shanghai Metals Market is reporting nickel ore inventories stored at six major Chinese ports rose by 10,000 tonnes last week and now total 9.96 million tonnes.
• Average price of cash nickel so far this month – $4.48/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper subsides below $5,000, eyes six-year low – more

  Reports

• U.S. Exports of Stainless Steel Mill Products – more
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here

    First Quantum hires Jefferies to sell nickel assets – sources – First Quantum Minerals has retained Jefferies to explore a sale of its two nickel mines as the Canadian base metal miner looks to trim debt levels and double down on its bets in copper, three sources familiar with the matter said – more

    Imports of stainless steel is recovering – According to Spetsstal’s appraisal, imports of stainless steel to Russia in Q1-Q3 2015, if compared to the same period of 2014, fell 14.2% to 167,208 tons. – more

    LME Ni Average Price in October Up by 5% from Prior Month = Price fluctuates up and down, but hovers at higher range than September = LME monthly average price in October 2015 was Cash seller: US$10,344.09 per ton (US$4.692 per lb) and 3-month seller: US$10,387.73 per ton (US$4.712 per lb). – more

    Exhaustive environmental report on proposed PolyMet mine in northern Minnesota – The head of Minnesota’s Department of Natural Resources says an environmental impact statement for a copper-nickel mine was rigorous and objective. But environmental groups say the DNR and PolyMet continue to overlook major flaws in the design and proposed operation of the mine, especially how water leaving the site will be treated – or not treated – and how any tainted water will be kept from polluting northern Minnesota waterways. – more

    Mining Industry Waste a Challenge Dams Can’t Always Contain – The dams that ruptured in Brazil Thursday, sending a wall of mud along the countryside, were built to contain the leftover materials from mining known as tailings, and disposing of them safely has long been a challenge for miners. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, November 5

• Three month nickel closed Wednesday’s trading session at $4.49/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.08/lb lower, and showing evidence of potentially finding a bottom for the day. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now totals just over the 427,500 tonne level. Nickel is in trouble again and the price has fallen south of the sideways pattern it spent much of the latter half of October in.   
• Average price of cash nickel so far this month – $4.54/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper touches weakest in a month, weighed by firm dollar – more

  Reports

• U.S. Imports of Stainless Steel Mill Products – more
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• China Stocks Enter Bull Market as State Stimulus Reverses Rout – more

     EU: CEN published new Nickel Standard – According to REACH Annex XVII entry 27, the standards published by the European Committee for Standardisation (CEN) should be used to demonstrate compliance of nickel release. – more

    Outokumpu sees distributor destocking stabilising in Q1 – Loss-making stainless steel maker Outokumpu is expecting distributor destocking to ease off in the first quarter of next year, its acting chief executive told Reuters. – more

     China’s weak demand for nonferrous metals set to continue – China’s economic woes continue to weigh on the markets for copper and other nonferrous metals. – more

    North American Stainless PR – For the month of November 2015, North American Stainless will maintain the fuel surcharge at 19% for stainless flat and long products. The surcharge rate is considered a maximum level for November and will be reviewed monthly. – more

    Axiom secures A$15m to advance Isabel mine development – International investors jump onboard at the prospect of making a small fortune out of the Solomon Islands… but where does that leave the landholders and the environment? – more

    Ring of Fire player feels pressure – Even as it starts a new exploration program in the Ring of Fire this week, the mineral belt’s lone main player admits it’s never been tougher to secure the funds for such projects. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, November 4

• Three month nickel closed Tuesday’s trading session at $4.54/lb . Indicators at 5:30 am CST today show 3 month nickel trading around $.02/lb and like yesterday, struggling to find a floor, but very near a line of support.  After 21 consecutive sessions so lowering numbers, stockpiles of nickel stored in LME approved warehouses rose by over 5,000 tonnes yesterday, and now total just shy of the 428,100 tonne level. With little news to move the market, it appears the stronger Dollar is squeezing nickel traders today.
• Average price of cash nickel so far this month – $4.55/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper bounces from 1-month low, tighter supply supports – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Asia surges with Japan, China stocks in lead; risk appetite lifts dollar – more

    AK Steel Applauds Commerce Department’s Preliminary Countervailing Duties Determination in Corrosion-Resistant Steel Trade Case – AK Steel said that it applauds the U.S. Department of Commerce’s preliminary determinations announced today that imports of corrosion-resistant steel (“CORE”) from China, India, Italy and South Korea are benefiting from unfair government subsidies and should be subject to counter-vailing duties. – more

    Sherritt downgraded on balance sheet concerns – The price of nickel has been in the dumps this year, dropping about 30 per cent. But nickel miner Sherritt International Corp. has done much worse, falling roughly 70 per cent. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, November 3

• Three month nickel closed Monday’s trading session at $4.60/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.06/lb and struggling to find a floor. Stockpiles of nickel stored in LME approved warehouses fell on Monday, for the 21st consecutive session, and now total just under the 422,850 tonne level. Nickel continues to trade rangebound, with analysts forecasting, or we might suggest hoping, for some price volatility in the coming months. It is becoming apparent that we are now using more nickel than we are producing – but we have a whole lot of excess inventory to burn thru before that becomes an issue.  
• Average price of cash nickel so far this month – $4.56/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper prices drop, aluminium climbs on Alcoa cut – more

  Reports

• Nickel Compounds – The Inside Story – pdf here
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here

      HKEx to Roll Out Three More London Metal Mini Futures on 14 December 2015 – Hong Kong Exchanges and Clearing Limited (HKEx) will introduce London Nickel Mini Futures, London Tin Mini Futures and London Lead Mini Futures contracts for trading in its derivatives market on 14 December 2015. – more

    Mirabela reduces staff numbers – Embattled nickel miner Mirabela Nickel has cut nearly 34% of its staff numbers as the nickel price remains low. – more

    Stainless scrap prices continue their decline in October – Global: Producers’ thin order files have resulted in poor demand for stainless steel scrap and further price declines: during October, the 304 quality witnessed a drop from US$ 1070-1120 per tonne to US$ 1000-1050 while the 316 range has been clipped from US$ 1410-1460 to US$ 1310-1360. – more

    Vale runoff saturated school board property for years – The Sudbury Catholic District School board property where toxic runoff from Vale’s slag piles allegedly seeped for decades, was often over-saturated, says a former manager who worked at the property. – more

    PNG ‘in stormy waters’ – As the fall in global commodity prices and the weakening Chinese economy drag down economic growth, Papua New Guinea is sailing stormy waters with other export-dependent economies, Bank of Papua New Guinea says. – more

    Courtesy AISI – In the week ending October 31, 2015, domestic raw steel production was 1,641,000 net tons while the capability utilization rate was 68.6 percent. Production was 1,840,000 net tons in the week ending October 31, 2014 while the capability utilization then was 76.5 percent. The current week production represents a 10.8 percent decrease from the same period in the previous year. Production for the week ending October 31, 2015 is down 1.6 percent from the previous week ending October 24, 2015 when production was 1,667,000 net tons and the rate of capability utilization was 69.7 percent.

     OFL takes hard line on Sudbury worker’s death – The Ontario Federation of Labour is calling on Sudbury’s police chief to ensure a criminal investigation is conducted into the death of a Nickel Rim South miner Oct. 20. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, November 2

• Three month nickel closed Friday’s trading session at $4.56/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb higher, but showing little enthusiasm so far. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just under the 423,900 tonne level. SMM reports nickel ore stockpiles at six major Chinese ports rose by 70,000 tonnes last week and now totals 9.95 million tonnes. Chinese manufacturing PMI came in at 49.8 over the weekend, reflecting another month of retraction. The European reading came in at 52.3%, better than forecast.
• Average price of cash nickel so far this month –
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper hits 1-month low, China manufacturing shrinks again – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Asian shares slide as soft China surveys, US data sap risk appetite – more

     Japan’s Purchase Price of HC FeCr Down by US Cents 4 from Prior Period = US Cents 112 per lb due to weak demand throughout world including Japan = Japanese stainless steel mills continued negotiation with several foreign ferro-chrome producers to fix the purchase price of high-carbon ferro-chrome for the period from October to December in 2015, and recently came to an agreement on the price to be down by US Cents 4 from the prior period. – more

    New Caledonia Nickel Export Row Reignited – The group of truck drivers who blockade parts of New Caledonia for three weeks in August has threatened to take action again – more

    Weak demand pummels steel companies’ finances – Listed Chinese iron and steel companies reported wide-ranging losses in the first three quarters against the backdrop of sluggish demand and renminbi depreciation. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

October Archives

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“A Guide To LME Trading”…pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays – Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note – For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.