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

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Three month nickel closed Monday’s trading session at $6.09/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started today just under the 332,100 tonne level. Base metals are mixed this morning, but mostly higher, as markets begin to wonder if the Trump tariff’s will actually happen, with Republicans asking him to reconsider. It’s been nearly 23 hours since we have gotten a Tweet on the subject, so who knows. Lot of industry news today, with nothing a major market mover. We remain rangebound, although prices are now trading on the low side of the range and with $6.06/lb as support, they haven’t much room to move lower, without threatening a change in the overall trendline.
  • Average price of cash nickel so far this month – $6.09/lb
  • Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

  • Reuters metals morning – Surging stocks push zinc to 10-week low, copper rebounds – more
  • Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price – more
  • Yieh Daily Asian Stainless Steel News – more
  • Baltic Dry Index – (chart)
  • Alloyed for Lasting Value video – here
  • Self Repairing for Lasting Value video – here
  • Sault among Northern cities vying for plant  – more
  • SO – CISA: Iron ore prices in China continue to rise during February
  • Trump’s metal tariffs put spotlight on US-China commodity trade – more
  • EU Raises Stakes for Trump With Tariffs Targeting GOP Heartland – more
  • Goldman Sachs Rips Into Trump’s Tariffs Plan – more
  • Stocks Rise as Trade Talk Rumbles On; Gold Climbs: Markets Wrap – more

     Monday’s market review – Zinc hits 2018 low as stocks jump, U.S. tariffs loom – Zinc slid to its lowest this year on Monday, falling for a fifth consecutive session as inventories surged and concerns about proposed U.S. trade tariffs weighed on metals used in steel manufacturing. – more

     Finland’s former Talvivaara files for bankruptcy – Finland’s Ahtium Oyj, previously named Talvivaara Mining Company, which ran a troubled nickel mine in northern Finland, has filed for bankruptcy after failing to secure financing for future projects, it said on Tuesday. – more

     The Oligarchs’ Feud That Will Affect Electric Cars – Russian billionaires are feuding over control of a giant natural-resource business that dates back to the Soviet era. – more

     Lukas Lundin Chases Base-Metal Buy With $3 Billion Budget – Sweden’s billionaire Lundin family is looking to spend as much as $3 billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project. – more

     PNG cobalt, nickel demand to rise – PNG cobalt and nickel is positioned well to supply the demand for electronic-powered vehicles and energy storage batteries over the next 20 years. – more

     Nornickel 2017 net profit fell more than expected – Russia’s Norilsk Nickel reported a 16 percent drop in 2017 net profit on Tuesday due to a smaller foreign exchange gain, but was optimistic about prospects for its largest revenue generator palladium, saying a market deficit could widen. – more

     Courtesy AISI – In the week ending on March 3, 2018, domestic raw steel production was 1,834,000 net tons while the capability utilization rate was 78.7 percent. Production was 1,747,000 net tons in the week ending March 3, 2017 while the capability utilization then was 74.9 percent. The current week production represents a 5.0 percent increase from the same period in the previous year. Production for the week ending March 3, 2018 is up 2.9 percent from the previous week ending February 24, 2018 when production was 1,783,000 net tons and the rate of capability utilization was 76.5 percent. – more

     Clive Palmer to suffer reputational stigma if assets frozen, court hears – Clive Palmer and his companies would suffer a “very significant reputational stigma” if a judge freezes his personal and corporate assets, a court has heard. – 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
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