Well, if you thought the London Metal Exchange’s unprecedented suspension of trading last week took the steam out of the nickel market and nickel prices, and that the world would revert to orderly conduct Wednesday when the LME resumed trading, you would have been wrong. Nickel price chaos The LME had set trading limits of […]
Tag: nickel price
Stainless MMI: Trading halted following nickel price spike
The Stainless Monthly Metals Index (MMI) rose by 7.6% from February to March, as the skyrocketing nickel price prompted LME intervention Tuesday. LME suspends trading due to short squeeze Russia accounts for roughly 7% of global nickel supply. So, the possibility for supply disruptions, on the back of mounting sanctions from the West, adds pressure […]
LME suspends nickel trading due to short squeeze
The London Metal Exchange (LME) halted nickel trading effective 8:15 a.m. London time today. The contract will remain suspended for the remainder of today. According to the LME, the price movement in Asia overnight combined with the situation between Russia and Ukraine led to the decision to halt trading. Furthermore, the LME said it would […]
Automotive MMI: Palladium prices, nickel prices surge as sanctions hit Russia
The Automotive Monthly Metals Index (MMI) fell by 0.7% for this month’s value, as palladium prices have surged while steel prices have retreated. Last year, MetalMiner added a suite of precious metals prices to the MetalMiner Insights platform. Russia-Ukraine war, the auto sector and palladium prices The Russian invasion of Ukraine has yielded commodity price volatility […]
Green energy boom now biting all of Europe — and the USA, too
In 2018, a pair of us on the MetalMiner team attended the “premier aluminum conference in Europe” — Aluminum 2018 Dusseldorf. Although Dusseldorf felt like a charming Ohio blue collar town with good beer, one of us left the event with a deep cough (obviously pre-Covid). Oddly enough, the weather alert app kept displaying daily […]
Metal inventory levels dwindle and that could hit metal prices
While inventory levels serve as an interesting measure for fundamental analysis, that measure remains irrelevant for the short term. But when inventory levels change dramatically and over a longer time frame, they can have both an impact on price and also reflect more profound changes within the market. Ultimately, if not immediately, those factors could […]
China’s land and expand plan to source critical metals and materials globally
In 1953, China spelled out its 1st “Five-Year Plan”. The strategy involved maximizing the nation’s control over exploration, production, and exports of natural resources. Based upon all available indicators, the country seems to have succeeded in “extending” that plan around the globe. News out of China earlier this week confirmed this fact. Ecuadorean President Guillermo […]
Bases metals prices with short term volatility followed by medium term falls
Many metals consumers normally buy if not spot then on a three-to-six-month time horizon. Still others book up to a year out. Those that fix for longer periods often publish annual sales price lists. These companies need to fix input costs to protect margins. However, that too comes at a cost. Of course there is […]
Nickel in deficit as LME inventories continue to decline
Inventory drawdown is the defining narrative at the moment, and nickel is part of the story. Economic recovery around the world is patchy. Some countries are recovering strongly, while some are still struggling. Inflation is surging and analysts are having trouble agreeing whether 2022 can see anything like 2021’s rate of growth as a result. […]
Environment driving BHP’s investments in nickel
Nickel, traditionally largely consumed in the stainless steel industry, is enjoying strong support from its role as a lithium-ion battery enhancing metal. The use of nickel reduces the need for cobalt, significantly battery reducing costs. Not surprisingly car makers are scrambling to lock up supplies as Chinese battery firms get first to market investing in […]
