Stainless Steel News and Nickel Prices, Price of Nickel, Price of Stainless Steel

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Wednesday, November 30

• Three month nickel closed Tuesday’s trading session at $4.99/lb . Indicators at 5:40 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and end the month just over the 366,800 tonne level. This is a gain of 3,276 tonnes over the past month, and the second consecutive months of increases – after nine months of solid declines. Nickel is having a problem finding some gas this morning, while the other base metals are trading higher and recovering from yesterday’s sell off. The Euro continues its week long recovery, which is adding support to base metals.
• Average price of cash nickel so far this month – $5.06/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 – Shanghai metals sour on China regulation, liquidity worries – 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
• Oil Rallies on OPEC Optimism, Spurring Gains in Energy Producers – more

    As the money men return to metals, is it a sign the cycle has turned? – The money men are returning to the base metals markets. – more

    Mining industry crackdown continues in Philippines – A plan to pursue the multimillion-dollar suit against a global mining firm Barrick Gold Corp is headed for the Canadian courts, after a US court ruled that it was the wrong jurisdiction to hear the claim. – more

    Sherritt cuts production forecast for Moa nickel JV after bridge collapse – Sherritt International Corp cut its full-year production forecast for its joint nickel venture in Cuba following the collapse of a municipal bridge there last week that killed four workers. – more

    Zimbabwe: Bindura Nickel Bounces Back to Profitability – Bindura Nickel Corporation Limited’s production during the half-year to September 30, 2016 improved 23 percent to 3 420 tonnes and resultantly the company bounced back to profitability albeit depressed nickel prices. – more

    Nickel One Resources Inc excited about new Finnish purchase – Nickel One Resources Inc is a Canada-based exploration company with two nickel discoveries: the Tyko nickel/copper/platinum group elements (PGE) property in in North-western Ontario and the other is in Finland. – more

    Vale sees nickel opportunity in electric vehicle growth – Adoption of electric cars in developed countries could result in a strong future for Brazilian mining group Vale’s large nickel mining and smelting operations in Canada and New Caledonia in the South Pacific, CEO Murilo Ferreira said on Tuesday. – 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 29

• Three month nickel closed Monday’s trading session at $5.28/lb . Indicators at 5:40 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses rose slightly and started today at 367,050 tonnes. Lead and zinc are trading higher this morning, while the other base metals are lower. Commerzbank is reporting the metals sector is overbought and this is encouraging some profit taking in anticipation of a possible correction. Lot of economic reports being released the rest of this week, including preliminary US GDP numbers today, and PMI numbers from around the world Thursday.
• Average price of cash nickel so far this month – $5.05/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 – Lead surges, other metals take a breather – 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
• Oil Retreats Below $47 Before OPEC Meeting as Rand Falls on Zuma – more

    Indonesian Miner Antam’s Nickel Smelter Plans Hinge on Easing of Ore Export Ban: CEO – Indonesian state-controlled miner Aneka Tambang (Antam) may not have the cash flow for downstream investments worth at least $500 million if a ban on nickel ore exports is not eased, its chief executive told Reuters on Monday (28/11). – more

    Some Japanese Mill Offers CR Austenitic Stainless Sheets at $2,500 CFR – Some Japanese mill has entered negotiations on cold-rolled (CR) stainless steel sheets for Asia for shipments of February/March next year. Its offer price of austenitic stainless sheets to SUS304 is $2,500 CFR, which exceed $2,400 on FOB basis. – more

    U.N. Security Council to vote Wednesday on North Korea sanctions – diplomats – The United Nations Security Council is set to vote on Wednesday to impose new sanctions on North Korea for its fifth and largest nuclear test, slashing Pyongyang’s export earnings by some $800 million, diplomats said on Monday. – more

    Finnish parliament watchdog to review PM Sipila’s actions in nickel mine funding – Finnish Prime Minister Juha Sipila’s conduct is to be reviewed by the parliamentary ombudsman for a possible conflict of interest in government funding for a state-owned nickel mine, the watchdog said on Monday. – more

    Vale slashes nickel refinery emissions – Vale has announced the completion of a $75 million Nickel Refinery Emissions Reduction Project in Sudbury. – more

    Terminal pay season opens at mothballed Botswana nickel miner – The payment of terminal benefits to all former employees of liquidated Botswana nickel miner BCL Limited will start on November 30 amid expectations that it would be concluded by December 16, the provisional liquidator has announced. – more

    Courtesy AISI – In the week ending on November 26, 2016, domestic raw steel production was 1,598,000 net tons while the capability utilization rate was 67.4 percent. Production was 1,500,000 net tons in the week ending November 26, 2015 while the capability utilization then was 62.7 percent. The current week production represents a 6.5 percent increase from the same period in the previous year. Production for the week ending November 26, 2016 is down 0.5 percent from the previous week ending November 19, 2016 when production was 1,606,000 net tons and the rate of capability utilization was 67.7 percent. – 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 28

• Three month nickel closed Friday’s trading session at $5.25/lb . Indicators at 5:50 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over the 367,000 tonne level. A weaker US Dollar continues to support surging metal prices, as fund money pours into metal. After falling in September, the S&P Global Platts China Steel Sentiment Index rose to 59.37 from 48.92 Bloomberg reports. Nickel’s short term, mid term and long term trends all point north.
• Average price of cash nickel so far this month – $5.04/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 zinc charges to 9-yr high, lead hits 5-yr high – 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
• Early Indicators Show China Economy Remains Stable This Month – more
• Trump Trades Falter as Dollar Slips; Treasuries Gain With Gold – more

    Four workers die at Sherritt nickel and cobalt joint venture in Cuba – Four employees at the Sherritt Moa joint venture in Cuba died Tuesday when a municipal bridge they were working on collapsed. – more

    As the money men return to metals, is it a sign the cycle has turned? Andy Home – The money men are returning to the base metals markets. The speculative surges on China’s mainland commodity exchanges may be grabbing the headlines as the authorities tweak trading and margin rates to try and cool the animal spirits of the retail investment crowd. – more

• As the commodity mega-boom winds down, the mini-boom gathers steam: Russell – As the once-in-a-lifetime commodity boom winds down, a key concern has been what is going to replace the mega-projects built to feed China’s appetite for natural resources. – more
• China’s Ball of Money Is Rolling Back to Commodities – In China, money flow is tightly controlled and capital markets are relatively underdeveloped, meaning the economy works like squeezing a balloon. – more

    Price gains for nickel and for stainless scrap – Global: Although stainless steel scrap prices have firmed since Recycling International’s late-October report, uncertainty is continuing to overhang the market with regard to the approaching year-end. – more

    Some Chinese Mill Offers HR Austenitic Stainless Steel Coils at $2,000 CFR – According to information obtained by a source, some Chinese leading stainless steel mill seems to have offered its prices at $2,000 CFR for Korea for January shipment in negotiations on spot basis on hot-rolled (HR) austenitic stainless steel coils. The mill has still reduced quantity, which is likely to be small. – more

    Western Areas up on offtake deal with China – Western Areas shares jumped after the company announced it had struck a novel off-take agreement with a major Chinese steel maker for about half of its annual nickel production. – more

• Western Areas ‘won’t be prisoner to the nickel price’ – 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 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

• Three month nickel closed Tuesday’s trading session at $5.16/lb . Indicators at 5:30 am CST today show 3 month nickel trading flat . Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total under the 368,000 tonne level. Markets are quiet, with US markets winding down as families travel for Thanksgiving festivities on Thursday. London markets will remain open and trade and we will update you on Monday on what they do over the next few days. Thank you for joining us and enjoy the rest of your week and weekend.
• Average price of cash nickel so far this month – $5.01/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 holds gains on inflation signs – 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
• S&P 500 Futures Signal Rally Stabilizing as Commodities Decline – more

    UPDATE 1-Indonesia to cut royalty for processed nickel to 2 pct -official – Indonesia will cut the royalty charged on sales of processed and refined nickel to 2 percent, a mining ministry official said on Tuesday, part of a revision of government rules on non-tax revenue from the coal and minerals sector. – more

    Paroo Station closer to restart – The Paroo Station nickel mine is one step closer to restart after Canadian owner LeadFX received a seven-year extension for access to the port of Fremantle to export lead concentrate. – more

    Vale slashes nickel refinery emissions – Vale has announced the completion of a $75 million Nickel Refinery Emissions Reduction Project in Sudbury. – more

    Courtesy AISI – In the week ending November 19, 2016, domestic raw steel production was 1,606,000 net tons while the capability utilization rate was 67.7 percent. Production was 1,500,000 net tons in the week ending November 19, 2015 while the capability utilization then was 62.7 percent. The current week production represents a 7.1 percent increase from the same period in the previous year. Production for the week ending November 19, 2016 is up 1.6 percent from the previous week ending November 12, 2016 when production was 1,580,000 net tons and the rate of capability utilization was 66.6 percent. – source

  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 22

• Three month nickel closed Monday’s trading session at $5.17/lb . Indicators at 5:30 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just under the 367,500 tonne level. Stockpiles are now at the highest level they have been since mid September, as miners rush to sell nickel on increased prices. After falling back under $5/lb on Friday, nickel jumped 5% yesterday as traders took advantage of a strengthening Euro, as the US Dollar’s near two week climb faltered. The two are fighting a back and forth battle today, and nickel appears to be waiting for a clearer direction.  
• Average price of cash nickel so far this month – $5.01/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 hits one-week high on inflation expectations – more

  Reports

• October 2016 crude steel production – 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
• Negative Indian Ocean Dipole ends, while central tropical Pacific Ocean warms – more
• Stocks Rise Around the World as Crude Oil, Metals Extend Advance – more

    Indonesia to cut royalty for processed nickel to 2 pct -official – Indonesia will cut the royalty charged on sales of processed and refined nickel to 2 percent from 4 percent, a mining ministry official said on Tuesday, referring to a revision of government rules on non-tax revenue from the coal and minerals sector. – more

    Nickel Producer Vale Shortlists Investors for Sulawesi Smelters – Vale Indonesia, one of the country’s largest nickel producers, is offering majority stakes in its smelter projects in Sulawesi to strategic investors from China, Japan and Canada, to try to cope with the massive investment needed for the projects. – more

    Market Trend of Import of Ferroalloy as of 15 November 2016 = Chinese EMM price rises sharply, and price of manganese ore also continues rising = The market trend of import of ferroalloy as of 15 November 2016 is as follows. – more

    Clive Palmer says retirement means time for diet and representing himself in court – Clive Palmer has turned up to Queensland’s Supreme Court to represent himself in his legal battle over the collapse of Queensland Nickel, declaring he’d prefer to diet and go to court than play croquet in his retirement. – 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 21

• Three month nickel closed Friday’s trading session at $4.92/lb . Indicators at 5:40 am CST today show 3 month nickel trading around $.13/lb higher. Stockpiles of nickel stored in LME approved warehouses has been rising since our last update and starts the week just over the 366,450 tonne level. The US Dollar is lower against the Euro this morning, which has drawn traders attention again. Nickel had fallen back below the $5/lb level Friday on a stronger US Dollar and some profit taking, but the bull is back – at least for today. This is a short week in the US, with markets closed on Thursday for Thanksgiving.
• Average price of cash nickel so far this month – $5.00/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 leads broad rally in metals, further gains seen – more
• Wall Street Journal – Metal Prices Climb as China Backs Free-Trade Zone – more

  Reports

• Damstahl Stainless Steel Report – November 2016 – 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
• (SMM) Based on inventories at the seven major ports, SMM estimates China’s total nickel ore port inventories at around 13.93 million wmt, or 113,600 mt in Ni content.
• Crude Helps Lift Commodities on OPEC Optimism as Dollar Weakens – more

     Sherritt sees Cuban nickel venture returning to profit in 2017 – Sherritt International Corp’s joint nickel venture in Cuba will return to profit next year if prices for the metal sustain themselves at the current level, the Canadian mining company’s head said in an interview. – more

    Japanese Mills to Suspend Next Week Offers of CR Austenitic Stainless Sheets – The Japanese mills are likely to suspend their offers of cold-rolled (CR) austenitic stainless steel sheets next week to avoid new negotiations for January shipment. – more

    Government policy dents nickel supply by Asian producers – The supply of nickel, a metal used to make stainless steel, is being greatly affected by government policy in Indonesia and the Philippines, two major producing nations. – more

    Ni SUS Scrap Purchase Price in Kanto Maintains Being Flat Also in Nov = There is expectation of further rise in spite of JPY105,000 – JPY110,000 per ton being maintained = Stainless steel mills in the Kanto area now offer the purchase price (delivered at plant) of nickel-containing stainless steel scrap (SABOT) at JPY105,000 – JPY110,000 per ton. – more

    Support for ban on nickel mining high – An estimated 350 citizens from as far north as Bandon and east as Medford filled the Brookings-Harbor High School auditorium Tuesday night, the vast majority to voice their support to extend from five years to 20 a mineral withdrawal from the headwaters of Hunter and Baldface creeks and the Smith and Pistol rivers. – more

    Norilsk Nickel aims to reduce pollution in Siberian city of Norilsk by 75% by 2020. – A major Canadian-Russian project signed last week is due to be completed by 2020, The goal of 75% emission reduction will be reached by catching emitted Sulphur dioxide from the plants in Norilsk. – 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 15

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

• Three month nickel closed Monday’s trading session at $5.06/lb . Indicators at 5:50 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 365,350 tonne level. The Euro is getting a small bounce this morning, and while this would typically help commodities, traders are taking some profits from the recent rally, as analysts warn metals have risen too far, too fast. The Euro continues to trade at a near annual low, so negative pressure remains on commodities. We will out tomorrow but back on Thursday.
• Average price of cash nickel so far this month – $4.98/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 tumbles as week-long rally starts to crumble – more

  Reports

• worldsteel 2016 Steel Statistical Yearbook now available online – 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
• Bond Selloff Abates as Dollar Halts Trump Rally; Iron Ore Slides – more

    Finland not to close troubling major nickel mine – Finnish Prime Minister Juha Sipila said on Monday the ailing nickel and zinc mine in Sotkamo, northeastern Finland, would not be shut down. – more

    Northland mining industry, conservationists await Trump’s policies – The election of Donald Trump as the United States’ next president has left some in the Northland wondering what comes next for the balance between environmental and mining interests. – more

    Courtesy AISI – In the week ending on November 12, 2016, domestic raw steel production was 1,580,000 net tons while the capability utilization rate was 66.6 percent. Production was 1,500,000 net tons in the week ending November 12, 2015 while the capability utilization then was 62.7 percent. The current week production represents a 5.3 percent increase from the same period in the previous year. Production for the week ending November 12, 2016 is down 1.4 percent from the previous week ending November 5, 2016 when production was 1,602,000 net tons and the rate of capability utilization was 67.5 percent. – 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 14

• Three month nickel closed Friday’s trading session at $5.08/lb  Indicators at 5:45 am CST today show 3 month nickel trading flat . Stockpiles of nickel stored in LME approved warehouses rose on Friday and now total just over the 365,500 tonne level. This is the highest stock levels have been since September 20th. The US Dollar continues to trade higher this morning, adding negative pressure on commodities. If the metals rally is depending on the trading value of currency to keep the bull alive, it shouldn’t be. Nickel start rallying when the US Dollar started falling upon news the FBI was renewing its look into Hillary Clinton’s e-mails. The Dollar started rising sharply upon Trump’s election and is now trading higher against the Euro than it was before the rally. The infrastructure remark made during his post election acceptance speech appears to all the analysts care to be talk about, and we will have to wait and see if any dirt starts moving before the anticipation wanes. In the mean time, nickel continues to trade higher and is showing signs of holding power.  
• Average price of cash nickel so far this month – $4.97/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 gains on signs China spending more on fixed assets – 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
• U.S. 30-Year Yield Tops 3% on Trump; Dollar, Copper Extend Gains – more
• Dollar soars as U.S. yields spike; global shares divided – more

    Copper gains on signs China spending more on fixed assets – Shanghai metals futures were mixed after opening lower across the board on Monday, helped by data showing strong fixed asset investment in China. – more

• Donald Trump the builder gives commodities a big lift – more

    FNI’s stainless steel project faces DENR scrutiny – The plan of Global Ferronickel Holdings, Inc. (FNI), the second largest nickel producer in the Philippines, to build a stainless steel processing plant in the country with a Chinese firm is not going to be an easy venture. – more

    China squeezes commodity traders as price spikes draw scrutiny – China’s once again trying to restrain its commodity traders following a spike in prices from coal to rubber, six months after the government stepped in to deflate a speculative bubble. – 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 10

• Three month nickel closed Wednesday’s trading session at $5.25/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just over the 364,400 tonne level. Nickel continues its bullish run, with analysts crediting Trump’s mention of an massive infrastructure project in his acceptance speech, as the momentum behind yesterday’s gains. While it took a momentary break Wednesday morning post election, the strengthening US Dollar continues to add negative pressure on metals, and could eventually prove to be the proverbial fly in the ointment. But for now, the bulls control the nickel market, and until they decide they have speculated beyond reality, stainless steel users must sit back and watch their prices move north. This is our final update for the week so we wish our readers a safe and relaxing weekend and invite yo back next week.    
• Average price of cash nickel so far this month – $4.87/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 jumps more than 5 pct on U.S. infrastructure hopes – 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
• Stocks, Metals Surge as Trump Win Revitalizes Outlook – more

     LME Nickel Price Touches Year High on Hope Trump Will Boost Infrastructure Spending – LME nickel prices saw major swings on Wednesday, but ended up staging an impressive performance, climbing almost 6% from trough to peak as investors hoped that Donald Trump’s presidential victory would usher in a new era of infrastructure spending. – more

    Trump’s Revamp of America to Boost Metals to Gas: Goldman – Donald Trump’s promise to revive American infrastructure means commodities used to build everything from airports to bridges will benefit under his presidency, according to Goldman Sachs Group Inc. – more

    Russian Nickel, Copper Exports Fall Jan-Sep, Aluminum Exports Rise – Russia Customs data show the country’s nickel and copper exports fell in the first nine months of the year, while aluminum exports grew, wenhua.com reported. – more

    Clive Palmer loses High Court bid to stop Queensland Nickel questioning – The High Court has thrown out a bid by businessman and former Federal MP Clive Palmer to stall questioning by the liquidators of his collapsed company Queensland Nickel. – 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 9

• Three month nickel closed Tuesday’s trading session at $5.11/lb . Indicators at 5:50 am CST today show 3 month nickel trading around $.09/lb higher. Stockpiles of nickel stored in LME approved warehouses gained what it lost yesterday and its back to Monday’s just over the 363,150 tonne level. Markets hate the unknown. This is why it reacted so sharply to the surprise Brexit vote and why its reacting negatively today to the shocking Trump election. At one point US futures were down over 800 points this morning but are down only 350 at the moment. The US Dollar is getting hammered this morning, which is helping make commodities more valuable. This is helping boost the traded price of nickel. The Republicans retained control of the House and Senate, giving the Republicans control of Washington DC for at least, the next few years.
• Average price of cash nickel so far this month – $4.82/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 eases as Trump close to surprise White House win – 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
• Market Turmoil Eases as Investors Weigh Trump’s Plan for Economy – more
• Trump win leaves dollar, global stocks, Mexican peso reeling – more

    LME Ni Average Price in October Up by 1% from Prior Month = Inventory level is up and rises to 363,558 tons at end of month = LME monthly average nickel price in October 2016 was Cash seller: US$10,266.43 per ton (US$4.657 per lb) and 3-month seller: US$10,315.71 per ton (US$4.679 per lb). When compared with the average price in September, the prices for both cash seller and 3-month seller were up by 0.8% and up by 0.7% respectively. (Hereinafter, the price is per ton) – more

    Base metals come out of LME week with a bullish roar: Andy Home – Cautiously optimistic. That was the consensus takeaway of the mood at LME Week, the annual shindig of the industrial metals markets. – more

    S&P Global Platts China Steel Sentiment Index Slumps in October – New Order Expectations Fall Ahead of Holiday, But Price Outlook Little Changed – more

    What we know about NorthMet, Minnesota’s first copper-nickel mine – The first ever copper-nickel mine in Minnesota could be one step closer to coming to life following the submission of a mine permit. – more

    French loan ready for Vale in New Caledonia – The French government has decided to offer the Vale nickel plant in New Caledonia a $US220 million loan for ten years to prop up its production.- more

    Russia’s Norilsk Nickel allows SNC-Lavalin to work at plant – The board of directors of Russian metals giant Norilsk Nickel has approved a contract with Canadian engineering company SNC-Lavalin for works under a sulfur dioxide capture project for Nadezhda Metallurgical Plant, Norilsk Nickel said in a statement Tuesday. – 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 8

• Three month nickel closed Monday’s trading session at $5.04/lb . Indicators at 5:45 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just under the 363,000 tonne level. Election day in the US and yesterday’s bet that Clinton will win the White House is now on hold as the citizens of the US decide if their bet will pay off, or if the market will experience another Brexit moment. Nickel closed at its highest since August of 2015 yesterday.
• Average price of cash nickel so far this month – $4.77/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 up, then down as Clinton-Trump vote looms – 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
• Stocks Advance as Currency Swings Die Down on U.S. Election Day – more
• ENSO Wrap-Up – more

    Copper lifts 2%, nickel up 6.4% – Copper has reached its highest price since March after the FBI cleared US presidential candidate Hillary Clinton of wrongdoing after further investigation of her email practices, boosting global markets before Tuesday’s election. – more

    Troubled Finnish nickel mine says could still avoid closure – Finland’s biggest nickel mine, which was bailed out by the government last year, could secure new investors by the end of December to avoid being closed down and is on track to become profitable by 2018, its state owner said. – more

    Political issues involving the nickel ore trade – Peter Modev, Senior Loss Prevention Executive at UK P&I Club, and the Club’s local correspondent (Pandiman Philippines) provide an update on the risks in transporting nickel ore from the Philippines: – more

     Major mining assets change hands after commodity rout – Major miners are selling assets after a global commodities rout last year left them with high levels of debt. – more

    Courtesy AISI – In the week ending on November 5, 2016, domestic raw steel production was 1,602,000 net tons while the capability utilization rate was 67.5 percent. Production was 1,537,000 net tons in the week ending November 5, 2015 while the capability utilization then was 64.2 percent. The current week production represents a 4.2 percent increase from the same period in the previous year. Production for the week ending November 5, 2016 is up 1.7 percent from the previous week ending October 29, 2016 when production was 1,575,000 net tons and the rate of capability utilization was 66.4 percent. – source

  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 7

• Three month nickel closed Friday’s trading session at $4.74/lb . Indicators at 5:45 am CST today show 3 month nickel trading around $.23/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over the 363,150 tonne level. Nickel is way up this morning, getting a push from geopolitical factors. Riots in Indonesia are making traders nervous about the supply, or future supply, of ferronickel. And more importantly, the FBI update that email’s found on Anthony’s Weiner’s email were mostly duplicates of those already examined and cleared and that nothing had been found that would change their earlier findings clearing candidate Hillary Clinton of potential charges, has given markets around the world hopes that Trump will be defeated. In our opinion, watch Florida. Clinton can lose Florida and still win the election but Trump can not. In our opinion, if Trump loses Florida, it’s all over. Today’s bounce in nickel has taken it above resistance, and for technical traders, today’s spike could mean bigger things.
• Average price of cash nickel so far this month – $4.72/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 rises as Clinton clears hurdle; tin, nickel get boost – 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
• Why the U.S. Is Reportedly About to Start Investigating Chinese Steel – more
• Global Stocks Rally With Commodities as Clinton Gets FBI Boost – more

    Glencore Nickel Day Developments – pdf here

    PolyMet Seeks Permit To Mine Copper, Nickel In Northeast Minnesota – State officials are now reviewing a permit application from PolyMet Mining Corporation to mine copper and nickel in the Iron Range. – more

    BCL closure a lesson for Botswana – As Botswana reels from the liquidation of its oldest copper and nickel mine, economists and political commentators have observed that the lesson that can be learnt is that there is need to speed up economic diversification efforts. – more

• 400 employees retained at BCL – more

   Noci to invest up to $365m in Côte d’Ivoire nickel project – Côte d’Ivoire nickel company Nickel de l’Ouest Côte d’Ivoire (Noci) will invest up to 220-billion CFA francs ($365-million) in concessions in the country’s west, a government spokesman said. – more

    Mars the next big Nickel provider? NASA’s Curiosity captures images of mysterious metal ‘egg rock’ on red planet – A new discovery might place Mars into good use for the people here on Earth. A small metal-like meteorite dubbed as the “egg rock” has been discovered on the said planet. – 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 3

• Three month nickel closed Wednesday’s trading session at $4.68/lb . Indicators at 7:00 am CST today show 3 month nickel trading around  $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just under teh 364,000 tonne level. LME Week is ending and many analysts and major traders are heading home today, so market news is nearly non existent. This is our final update for the week so we wish each of you a safe and relaxing weekend.
• Average price of cash nickel so far this month – $4.72/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 steadies near 3-month high – 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
• Glencore – Did you know that nickel is only one of 4 elements that’s magnetic at or near room temp? The others are iron, cobalt & gadolinium.
• Stocks Halt Losing Streak as Brexit Ruling Boosts U.K.’s Pound – more

    What’s behind AK Steel’s best quarter in 8 years – The last three months have been really good to AK Steel. The West Chester Township-based steel producer reported its highest quarterly profit in eight years, posting net income of $50.9 million in the three months ended Sept. 30. – 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 2

• Three month nickel closed Tuesday’s trading session at $4.72/lb . Indicators at 5:30 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 362,900 tonne level. LME Week continues in London and industry news is taking a break.  
• Average price of cash nickel so far this month – $4.74/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 falls back, but strong China data underpins market – 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
• Stocks Drop With Mexican Peso as Election Angst Boosts Yen, Gold – more

    MEPS Predicts Record Global Stainless Steel Production In 2016 & 2017 – MEPS predicts that world crude stainless steel output will reach an all-time high of 43.3 million tonnes in calendar year 2016. – more

    Outage at New Caledonia nickel producer SLN hits production – New Caledonia nickel producer Societe Le Nickel, a subsidiary of French conglomerate Eramet , on Wednesday said a series of explosions at a smelter had temporarily disrupted output earlier this week. – more

    Mining beyond the ‘bad rep’ – Among environmentalists, and perhaps among the general public as well, “mining” is a dirty word. – more

    Chamber speakers look to a future beyond mining during Northern Business Week – The Thompson Chamber of Commerce celebrated Northern Business Week Oct. 17-21, hosting vice-president of Vale Manitoba Operations Mark Scott, Nisichawayasihk Cree Nation Chief Marcel Moody and Thompson Progressive Conservative MLA Kelly Bindle at Riverlodge Place Oct. 20 to provide an update on the state of commerce in Northern Manitoba. – 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 1

• Three month nickel closed Monday’s trading session at $4.75/lb . Indicators at 5:40 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and start November just over the 363,000 tonne level. While LME has spent the last seven trading days on the bullish side, nickel continues to trade within a sideways channel it has been in throughout the last quarter. LME Week continues and nickel is trading quietly today.   
• Average price of cash nickel so far this month – $4.66/lb October average
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 – Zinc hits 5-yr high on supply woes; copper near 1-month high – 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
• Bond Market Selloff Resumes After Chinese Data, Metals Advance – more

    LMEWEEK-LME pauses fund charm offensive to calm traditional members – Plans to boost volumes by making it cheaper and easier for funds to trade London Metal Exchange contracts have been shelved to avoid fuelling further conflict with traditional members, sources said. – more

    Japan’s Sumitomo cuts 2016 nickel output estimate at Ambatovy to 40,000-42,000 T -executive – Japan’s Sumitomo Corp cut its estimate for nickel output in 2016 at its Ambatovy mine to 40,000-42,000 tonnes from 42,000-45,000 tonnes, Chief Financial Officer Koichi Takahara told an earnings press conference on Tuesday. – more

    Govt exempts 40-odd grades from Stainless Steel QC Order – The government has excluded 40-odd grades of stainless steel used in auto and engineering sectors from the Stainless Steel Quality Control (QC) Order, 2016. – more

    Russian metals giant handed fine over spillage – Russian metals giant Norilsk Nickel has been handed a small fine for a spillage last month that turned an Arctic river bright red, the company confirmed Monday. – more

• Nickel giant fined by eco-watchdog for ‘river of blood’ in Arctic – more

    Courtesy AISI – In the week ending on October 29, 2016, domestic raw steel production was 1,575,000 net tons while the capability utilization rate was 66.4 percent. Production was 1,629,000 net tons in the week ending October 29, 2015 while the capability utilization then was 68.1 percent. The current week production represents a 3.3 percent decrease from the same period in the previous year. Production for the week ending October 29, 2016 is down 1.4 percent from the previous week ending October 22, 2016 when production was 1,597,000 net tons and the rate of capability utilization was 67.3 percent. – source

  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 Monday thru Thursday before 8 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.