LME nickel

On March 8, 2013, the day’s biggest mover was the spot price of nickel, which saw a 0.4 percent decline on the LME to $16,510 per metric ton. On the LME, the nickel 3-month price declined 0.3 percent to $16,575 per metric ton.

today's metal prices - MetalMiner IndXThe Indian nickel cash price fell 0.3 percent.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement. The price of Chinese ferro-moly held steady.

The price of Chinese primary nickel gained 0.2 percent.

The prices of Chinese 304 and 316 stainless coil and scrap all remained essentially flat for the day.

On March 7, 2013, Chinese 316 stainless steel scrap jumped up 0.6 percent, landing at CNY 16,200 ($2,605) per metric ton and making it the day’s biggest increase. After two flat days, the price of Chinese 304 stainless steel scrap inched up 0.6 percent on Thursday to CNY 17,700 ($2,846). The price of Chinese 304 stainless coil finished the day at CNY 17,700 ($2,846) per metric ton following a 0.6 percent increase. After two changeless days, the price of Chinese primary nickel fell 0.2 percent to CNY 117,500 ($18,892) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,500 ($4,261) per metric ton.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,334) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,313) per metric ton.

On the LME, the spot price of nickel increased 0.4 percent to $16,570 per metric ton. On the LME, the 3-month price of nickel rose 0.3 percent to $16,625 per metric ton. The Indian nickel cash price fell 0.3 percent to INR 903.90 ($16.52) per kilogram.

On March 7, 2013, Chinese 316 stainless steel scrap jumped up 0.6 percent, making it the day’s biggest increase.

today's metal prices - MetalMiner IndXAfter two flat days, the price of Chinese 304 stainless steel scrap inched up 0.6 percent on Thursday. The price of Chinese 304 stainless coil finished the day following a 0.6 percent increase. After two changeless days, the price of Chinese primary nickel fell 0.2 percent. The price of Chinese 316 stainless coil was unchanged.

The price of Chinese ferro-chrome saw little movement. The price of Chinese ferro-moly remained essentially flat.

On the LME, the spot price of nickel increased 0.4 percent to $16,570 per metric ton. On the LME, the 3-month price of nickel rose 0.3 percent to $16,625 per metric ton. The Indian nickel cash price fell 0.3 percent to INR 903.90 ($16.52) per kilogram.

Could the nickel market be going the same way as the aluminum and zinc market?

By that I mean becoming a game for the financiers to turn a small profit by playing the forward LME curve. At present, the forward curve is not strong enough, as this graph from the LME shows.

nickel forward curve chart jan 2013

Source: LME

Cash to December 2014, a typical timeframe for such a deal, shows only a 3% return. However, physical premiums are rising and the market surplus is increasing, suggesting that if physical demand does not pick up this year, we could find nickel coming to the attention of those already deeply involved in the aluminum and zinc markets doing exactly the same thing with nickel.

Read more

Chinese stainless steel prices were mixed for the week. Chinese ferro-chrome prices and Chinese ferro-moly held steady from the previous week.

The price of Chinese primary nickel rose 2.8 percent over the past week. Chinese 316 stainless coil prices were off slightly, down from a week ago. Prices for Chinese 304 stainless steel scrap remained constant, as did Chinese 304 stainless coil. Chinese 316 stainless steel scrap traded sideways last week.real stainless steel pricing - MetalMiner IndX

The week finished with no movement for Korean 430 stainless steel coil. The price of Korean 304 stainless coil did not change since the previous week.

On the LME, the 3-month price of nickel spiked 3.7 percent last week. The spot price of nickel closed last week–on the LME–after a 3.1 percent rise in its price. The Indian nickel cash price rose 1.9 percent over the past week. This was the third week in a row of increasing prices.

The Stainless MMI® collects and weights 14 global stainless steel and raw material price points to provide a unique view into stainless steel price trends. For more information on the Stainless MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

 

Rising 2.3 percent to close at $17,340 per metric ton, the nickel 3-month price experienced the biggest change on the LME for Nov. 30, 2012. Following two days of rising prices, the Indian nickel cash price dropped 1.9 percent. On the LME, the nickel spot price rose 1.9 percent.

Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome held steady and the price of Chinese ferro-moly saw little movement.real stainless steel pricing - MetalMiner IndX

The price of Chinese primary nickel finished the market day up 1.0 percent per metric ton. The price of Chinese 316 stainless coil held steady. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat. The price of Chinese 316 stainless steel scrap remained essentially flat, while the price of Chinese 304 stainless steel scrap continues to hover for the fifth day in a row.

real stainless steel pricing - MetalMiner IndXThe price of Chinese primary nickel rose 1.7 percent on Nov. 20, 2012, making it the day’s biggest mover on MetalMiner’s stainless price index, after two days of falling prices.

Chinese 304 and 316 stainless steel coil and scrap didn’t move on the day.

Same goes for the prices of Chinese ferro-chrome and Chinese ferro-molybdenum.

The Indian nickel cash price, meanwhile, inched up 1.6 percent.

today's metal prices - MetalMiner IndXAfter a 1.1 percent increase, the spot price of nickel finished the day on the LME at $16,055 per metric ton. The 3-month price of LME nickel is back up, rising by 1.1 percent on Tuesday to close at $16,125 per metric ton.

real stainless steel pricing - MetalMiner IndX
Rising 1.1 percent, the cash price of primary Indian nickel experienced the biggest change for Nov. 19, 2012, on MetalMiner’s stainless price index.

The nickel spot price declined 0.8 percent on the LME to $15,875 per metric ton, after two days of improvement. On the LME, the nickel 3-month price declined 0.7 percent to $15,945 per metric ton. The price of Chinese primary nickel saw a 0.3 percent decline.

Chinese 304 and 316 stainless coil and scrap prices all held their value yesterday, remaining essentially flat.

today's metal prices - MetalMiner IndXFor the fifth consecutive day, the price of Chinese ferro-chrome held flat. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row.

LME nickel price inventory Nov 2012

Source: The Copper Journal

Nickel prices and nickel inventory continue to diverge, as stainless prices drop accordingly on MetalMiner’s weekly stainless steel price index.

Even though Indian and LME nickel prices appreciated slightly over the week on the MetalMiner IndX℠, our friends at the Copper Journal note in their weekly report that LME nickel prices have fallen 13.1 percent so far in 2012.

On the inventory side, nickel supply reflected in LME warehouse stocks has risen dramatically. In the year to date, LME nickel stocks have shot up by 47.6 percent compared the same period the year before.

real stainless steel pricing - MetalMiner IndXThe cash price of primary Indian nickel rose 1.1 percent after falling 0.3 percent during the previous week. The nickel spot price rose 0.3 percent on the LME to $16,010 per metric ton after falling 2.1 percent during the previous week. The 3-month price of nickel rose 0.2 percent on the LME to $16,050 per metric ton after falling 2.2 percent during the previous week. The price of Chinese primary nickel, however, fell 0.4 percent.

The week’s biggest mover on the weekly Stainless MMI® was the price of Chinese 316 stainless coil, which saw a 1.4 percent decline. Meanwhile in Japan, output of hot-rolled stainless steel continues seeing a downward trend, according to the Tex Report.

Read more

From AK Steel’s press release last Friday, the company said that “it will increase base prices for all 200, 300 and 400 series flat rolled stainless steel products, effective with shipments on December 30, 2012.

The release continued, “AK Steel said this increase will be achieved through a reduction in the functional discount of four percentage points for cold rolled and hot rolled products. Base prices of automotive exhaust grades will increase by $0.04 per pound. All raw material surcharges for stainless steel products, including those for materials under .015 inch thickness, will remain in effect.”

MetalMiner tracks AK Steel surcharges in addition to those from ThyssenKrupp, Carpenter and others on our metal price tracking service.

The Week’s Stainless and Nickel Price Movers

real stainless steel pricing - MetalMiner IndXThe biggest mover on the weekly Stainless MMI® was the 3-month price of nickel, which saw a 2.2 percent decline on the LME to $16,025 per metric ton. Last week marked the fourth in a row of declining prices for the metal.

Closing out the third week of declining prices, the spot price of nickel dropped by 2.1 percent on the LME, finishing at $15,955 per metric ton.

The Indian nickel cash price fell 0.3 percent after rising 0.3 percent the week before. The price of Chinese primary nickel finished the week down 1 percent.

For the third week in a row, the price of Chinese 316 stainless steel scrap dropped, falling 0.6 percent. The price of Chinese 304 stainless steel scrap rose 0.6 percent after falling 1.6 percent during the previous week.

today's metal prices - MetalMiner IndXThe price of Chinese 304 stainless coil rose 0.6 percent after falling 1.6 percent during the previous week. The price of Chinese 316 stainless coil dropped 0.4 percent this week, closing out the third consecutive week of falling prices.

Following a steady week, prices for Korean 430 stainless steel coil closed flat, and Korean 304 stainless coil remained unchanged for the week.

Chinese ferro-chrome remained essentially flat from the previous week, and the price of Chinese ferro-moly did not change either.

The Stainless MMI® collects and weights 14 global stainless steel and raw material price points to provide a unique view into stainless steel price trends. For more information on the Stainless MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

1 85 86 87 88 89 96