This morning in metals news, energy companies are lobbying for exemptions from the U.S. steel tariff, U.S. steel exports dropped in April compared with the previous month, and steel and iron ore prices fell by the greatest amount since March. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Asking for Exemptions […]
Tag: nickel
Stainless Steel MMI: Subindex Inches Upward on Rising LME Nickel Prices
In May, the Stainless Steel Monthly Metals Index (MMI) once again inched one point higher. The current reading stands at 77 points. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook The subindex inched higher driven by increasing LME nickel prices. Meanwhile, other related metals in the stainless steel basket traded flat. […]
Nickel Fundamentals Come Back to the Fore
As my colleague Fouad Egbaria wrote last week, the U.S. administration’s relaxation of the timescale for implementation of sanctions against Rusal has had the effect of taking the panic out of the market. As a result, prices have fallen for several days, not just for aluminum but for other metals that the market feared could […]
LME Nickel Follows Aluminum in Price Slide
MetalMiner’s Stuart Burns touched on the rapid swing back downward for the aluminum price, which surged on news of U.S. sanctions on Russian oligarchs and companies but quickly dropped when the U.S. Treasury opened the door to potential easing of sanctions. Buying Aluminum in 2018? Download MetalMiner’s free annual price outlook But aluminum wasn’t the […]
This Morning in Metals: Alcoa Shares Jump 4%, Companies Seek Waivers from Section 232 Tariffs
This morning in metals news, there has been a flood of applications from U.S. companies for exemptions from the Section 232 tariffs. Nickel prices reached a three-year high, stoked by fears of more sanctions, and Alcoa shares jumped in after-hours trade following rosy Q1 results. Need buying strategies for steel? Try two free months of […]
Mid-April Metals Analysis: Aluminum, Copper and Nickel Prices Rise, Other Base Metals Fall
Numerous factors weigh heavily on the base metals and commodity complex: the Chinese copper scrap ban, the Section 232 proclamation on aluminum and steel combined with country-specific exemptions set to expire on May 1, the Section 301 investigation, and multiple strikes at copper and nickel mines to boot. After the turmoil of the first few […]
This Morning in Metals News: Nickel, Zinc Hit More Than 1-Week Lows
This morning in metals, zinc and nickel dropped to their lowest prices in over a week, another country hints at retaliation vis-a-vis potential U.S. Section 232 tariffs and Chinese steel mills are looking to increase output before future cuts take hold. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Nickel, Zinc […]
Tight Nickel Market Sees London Prices Hit $13,200 Per Metric Ton
LME nickel prices hit $13,200 per ton last Wednesday, the highest level since June 2015 before investors took profits and the price fell back a touch to $12,870 per metric ton. Prices were led higher by the ShFE, where stock have fallen to 48,920 tons from over 90,000 tons just a year ago — and […]
