Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome
Daily Nickel/Stainless Steel Briefing
- Nickel closed Monday’s trading session at
$7.35/lb
($16,200/tonne). Indicators at 5:40 am CST today show nickel trading around $.03/lb 
lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and read just over the 158,950 tonne level this morning. Shanghai nickel rose to 127,200 y/t overnight, and we are switching to the January contract which read 125,500 y/t overnight. Nickel bounced over the $16,000 tonne level yesterday, and while off a little this morning, still has its head above that level. Lot of news this morning as reporters try to push thru stories before the extended holiday break. Stay safe out there and have a great Tuesday. Christmas is less than a month away. - Average price of LME traded cash nickel so far this month – $7.14/lb
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Reports
Monday’s market review – Copper bounces on bargain hunting and risk appetite – Copper prices rebounded on Monday from two sessions of losses, buoyed by bargain hunting and increased risk appetite after …. – more
Ningde sets ambitious growth targets for stainless steel industry by 2025 – The city of Ningde in Fujian Province, China, has announced plans to achieve an output value of CNY 260 billion for its stainless steel … – more
Western Miner Eramet Sees No Profits in Nickel Without Chinese Partners – The head of French miner Eramet’s Indonesian operations has said it has become impossible for western companies to run profitable … – more
Acerinox gets all approvals for acquisition of Haynes in US, expecting to close this deal by end-November – The Austrian competition authorities have approved the purchase of Haynes International by the … – more
Global Steel Takes an Upward Turn – In some of the largest producer nations, raw-steel tonnage ticked up sufficiently to spark a 5% rebound worldwide and reverse the five-month trend. – more
Battery Replacement Costs Are Poised To Plunge: ‘Cheaper Than Fixing An Engine’ – The high-voltage battery is the lifeblood of an electric vehicle. However, concerns about the long-term health of an EV battery … – more
Singapore businessman Ng Yu Zhi faces trial over US$1.1 billion nickel scam – The ex-accountant, who spent millions on funding an extravagant lifestyle, is accused of raising money for trades that did not exist – more
Bahlil Says There Is A Company That Wants To Dredge 40 Percent Of Indonesian Nickel Production – Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia revealed that there was one nickel … – more
Courtesy AISI – In the week ending on November 23, 2024, domestic raw steel production was 1,655,000 net tons while the capability utilization rate was 74.5 percent. Production was 1,687,000 net tons in the week ending November 23, 2023, while the capability utilization then was 73.4 percent. – more
Other News
- Why Do Banks Fail? Bank Runs Versus Solvency – more
- Trump threat: Tariffs on China, Canada and Mexico; China says ‘No-one will win a trade war’ – more
Economic Stats and Prices (posted in Friday edition)
Why Stainless Steel
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Слава Україні! – more