Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome
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“A Guide To LME Trading”…pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 7 am CST – 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. |
Abbreviated Friday Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
($16,200/tonne). Indicators at 6:20 am CST today show nickel trading less than $.01/lb 
higher. Stockpiles of nickel stored in LME licensed warehouse fell on Thursday and started the day just under the 66,100 tonne level. The news this week slowed in the latter half, and except for the news from Indonesia, which changes, is denied, and then later confirmed, the nickel industry has been rather quiet this post ‘LME Week’ – week. Nickel fell on Monday and has traded sideways since. Trade talk rumors are flying fast and free, with equity markets apparently betting they are more true than not. This is the final update for the week, and we hope each of you has a safe and entertaining weekend, and invite you back next week.
Reports
Thursday’s market review – Copper hits highest in more than two months on trade war progress – Copper rose on Thursday to its highest in more than two months after China said it had agreed with the United States to cancel tariffs imposed during a protracted trade war in phases, reviving hopes for an end to the conflict and a boost in demand for metals. – more
Indonesia allows nickel ore exports to resume for some – minister – Indonesia has allowed some nickel ore exporters to resume shipments following a temporary halt to investigate reports of violations, the minister who oversees the mining sector said on Thursday. – more
Commodity outlook by Tradebulls Securities: Buy zinc, sell nickel – Nickel has given sell cross over on daily scale by 20 and 50 moving average. RSI_14 is below 50, currently trading at 41 so trend is bearish. – more
Nippon Steel sees about 400,000 mt production loss from plant stoppages – Nippon Steel, Japan’s largest integrated steelmaker, expects to lose about 400,000 mt of crude steel production in fiscal 2019 as a result of stoppages this year at its plants at Kimitsu Works near Tokyo, and Nippon Steel Nisshin’s Kure Works in Hiroshima, the company confirmed Thursday. – more
Nickel plant faces closure, locals fear their town is doomed – The toxic smoke that for decades has embraced the borderlands between Russia and Norway might soon vanish. – more
