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 […]
Tag: nickel
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 […]
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 […]
This Morning in Metals: Nickel prices consolidate; NAS reduces fuel surcharge; US LNG exports surged in H1 2021
This morning in metals news: nickel prices have consolidated in December; North American Stainless announced a reduction in its fuel surcharge; and, lastly, the Energy Information Administration reported U.S. liquefied natural gas exports reached a record high in the first half of 2021. Are you under pressure to generate stainless steel cost savings? Make sure […]
Tin prices gain momentum as Indonesia mulls tin, copper export bans
Two years ago, Indonesia instituted a ban on nickel ore exports. Now, it is contemplating banning exports of tin and copper ore, too. You want more MetalMiner on your terms. Sign up for weekly email updates here. Indonesia export bans prompt tin price surge Indonesian President Joko Widodo has been announcing from different forums that […]
Stainless MMI: Stainless producers announce base price hikes
The Stainless Monthly Metals Index (MMI) remained flat for this month’s reading. Are you under pressure to generate stainless steel cost savings? Make sure you are following these five best practices. Base price and surcharge increase Both NAS and Outokumpu announced price increases effective Sept. 1. Outokumpu increased base prices by reducing the discount by […]
This Morning in Metals: Steel capacity utilization rises to 84.6%
This morning in metals news: the U.S. steel capacity utilization rate rose further to 84.6% last week; miner BHP announced a nickel supply agreement with Tesla; and, lastly, crude oil imports have been on the rise over the last four weeks. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help […]
Stainless demand drives nickel prices
It is reassuring to see a metal price driven by good old fundamentals. With so much buzz around supercycles and electrification, the impact of the speculative element in pricing has been much in evidence this year for products like copper and oil. But according to a recent Reuters post, solid supply and demand fundamentals are […]
This Morning in Metals: Rio Tinto, Schneider Electric sign MoU aimed at decarbonization
This morning in metals news: Rio Tinto and Schneider Electric have signed a memorandum of understanding to “develop a circular and sustainable market ecosystem for both companies and their customers”; meanwhile, Norilsk Nickel announced it has begun production of carbon-neutral nickel; and, lastly, the city of Savannah, Georgia, is attempting an aluminum cup pilot program. […]
