Daily Nickel/Stainless Steel Briefing 

• Nickel closed Thursday's trading session at $6.87/lb ($15,135/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started today reading just under the 161,450 tonne level. Shanghai nickel sipped to 122,410 y/t overnight. With an official cash price of just under the $15,000 tonne level yesterday, we are seeing nickel trading at levels it hasn't seen since the COVID pandemic. The holiday season begins this weekend and some of you will be on extended breaks over the next few weeks. We will publish on the days the London Metal Exchange's is open next week, which according to their holiday schedule, shows them closed for trading on Wednesday and Thursday. So we hope to see you on Monday and have a great weekend! For those traveling or on vacation, Merry Christmas!
• Average price of LME traded cash nickel so far this month - $7.08/lb
  

    Thursday's market review - Copper hits 5-week low on selling sparked by dollar jump - Copper prices fell to five-week lows on Thursday as the dollar jumped to near two-year peaks after the U.S. Federal ... - more

    Electric dreams turn into a nightmare for battery metals: Andy Home - It's been a brutal year to be in the battery metals business. Prices of lithium, nickel and cobalt collapsed in 2023 and have continued ... - more

   Global molybdenum production and use rises in Q3 2024 - Figures released today by the International Molybdenum Association (IMOA) show that global production of molybdenum rose by 2% to 162.4 million ... - more

   Russia’s stainless steel imports down 7.7 percent in January-July - In the first seven months this year, Russia's stainless steel imports totaled 258,300 mt, down by 7.7 percent compared to the same period last year, - more

   Other News

• BHP sees rising uncertainty for miners on trade as Trump returns - more
• ‘The right time’: FedEx will spin off FedEx Freight LTL unit - more
• Trump-backed spending deal fails in House, shutdown approaches - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Wednesday's trading session at $7.06/lb ($15,560/tonne). Indicators at 5:50 am CST today show nickel trading around $.10/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today reading just under the 161,250 tonne level. Shanghai nickel fell to 122,830 y/t overnight. The Fed did what the market expected yesterday, when it cut its overnight borrowing rate by 1/4 point, and then it did what it feared when it turned bearish on further cuts in 2025. The news caused the Euro to drop like a rock, to a low not seen since 2022 (it has recovered about half what it lost so far today). This sent a strong negative signal to commodity traders and when the LME opened for trading this morning, base metals took a hit. Nickel traders are fighting to hold at the $15,400 tonne level, but have been unsuccessful in the past hour. Indonesia has sent traders a less pessimistic signal this morning, with news they are considering deep cuts in production to prop up nickel prices. There was a time when a single miner could say something like this and drive the market into a near frenzy. Now even though its the largest producer in the world, an entire country can make the threat and the market yawns. If Indonesia actually makes some changes that stick and are enforceable, we could see traders take note, but for now, not so much. Stay safe out there and have a great Thursday!
• Average price of LME traded cash nickel so far this month - $7.10/lb
  

    Wednesday's market review - Copper edges up after hitting two-week low - Copper prices edged up in London on Wednesday after hitting their lowest in more than two weeks, but remained under pressure from ... - more

    Stainless Steel CR Coil Market Faces Global Headwinds with Falling Prices in Major Economies - With the week ending on 13^th December, the global Stainless Steel CR Coil market faced a  ... - more

    China’s steel exports to surpass 2015 record in 2024  - China’s steel exports are likely to surpass the 2015 record of 110 million tons in 2024, reaching over 111 million tons (+23% y/y). In January-November, ... - more

    Indonesia weighs deep cuts to nickel mining to boost prices, Bloomberg reports -  Indonesia is weighing deep cuts to nickel mining quotas and is looking at lowering the amount of ore mined next year to as low ... - more

    Trump advisers urge ending environmental reviews for mines receiving US funds - Advisers to incoming US President Donald Trump are recommending he waive environmental reviews for federally funded critical ... - more

   Other News

• Steel included in China's ambitious plan to overhaul standards system - more
• The dollar’s share of global payments surges to 49.1% - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Tuesday's trading session at $7.05/lb ($15,545/tonne). Indicators at 5:40 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's trading session reading just over the 160,900 tonne level. Shanghai nickel fell to 123,670 y/t overnight. Nickel continues to slide as it nears year end. The US Fed is expected to cut rates by 25 basic points today, but is expected to turn hawkish on future cuts. Inflation has begun to creep back up, throwing cold water on a market expecting significant interest rate drops in 2025. Stay safe out there and have a great hump day!
  
• Average price of LME traded cash nickel so far this month - $7.11/lb
  

    Tuesday's market review - Copper drops to 2-week low, surpluses on the horizon - Copper prices dropped to two-week lows on Tuesday as worries about demand in top consumer China, partly fuelled by ... - more

    Taiwan’s 300 series stainless steel HRC imports & price grow in Nov - Taiwan's imports of 300 series stainless steel hot-rolled coils returned to more than 60,000 tons in November, reaching 60,598 tons, an ... - more

    In October, Indonesia's total stainless steel exports decreased by approximately 35.42% MoM as major consumer countries slowed their restocking pace in Q4 - In October 2024, Indonesia exported approximately ... - more

• Global demand spurring Indonesia's mining boom comes at a cost for many communities - more

    China reduced steel production by 4.3% m/m in November - In November 2024, China’s steel companies reduced steel production by 4.3% compared to the previous month and increased by 2.5% compared to ... - more

   MEPS research flags fears of steel sector ‘in danger’ - MEPS respondents fear that Europe’s steel industry is “in danger” following the December announcements of job cuts at Thyssenkrupp and ArcelorMittal. - more

    Import/Export Stats for October 2025 - Nickel - more // Stainless Steel - more

    How to Trade Molybdenum? - Molybdenum is a critical metal used in various industries, from steel production to electronics. For those interested in trading molybdenum, understanding market trends, pricing ... - more

   Other News

• FedEx plans additional surcharge changes for 2025 - more
• US factory activity slumps further in December as tariffs loom - more
• Trump tariffs: Negotiating tactic or fair warning? - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Monday's trading session at $7.13/lb ($15,720/tonne). Indicators at 5:45 am CST today show nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell sharply on Monday and started today reading just over the 161,700 tonne level. Shanghai nickel fell to a December low of 124,200 y/t. Nickel continues to slide and yesterday's close was just under its close the first trading day of the month. The forecasts for 2025, at least the ones that have been published, have been less than optimistic for a recovery in nickel prices and this pessimism could be overtaking traders. Never count out the crafty bulls, who love nothing better than to set a trap for the shorts, but nickel is not looking to end the year on an upbeat note. 2024 will go down in the books as the year it became apparent that Indonesia had completely rewritten the book for nickel supply. Stay safe out there and have a great Tuesday!    
  
• Average price of LME traded cash nickel so far this month - $7.13/lb
  

    Monday's market review - Aluminium prices fall, under pressure from China’s rising output - Aluminium prices in London fell on Monday, under pressure from rising output in China and challenges to the country’s ... - more

   Turkey imports more stainless steel plates in Oct - According to data from the Turkish Statistical Institute (TUIK), Turkey’s stainless steel plate imports totaled around 72,000 tons in October, marking a year-on-year ... - more

   China Nov crude steel output falls on shrinking margins, demand - China's crude steel output in November fell 4.3% from October, official data showed on Monday, dampened by tighter margins and seasonally... - more

   Top 10 Stainless Steel Manufacturers in the World, 2023 - Stainless steel is essential in various industries, from construction and automotive to electronics and food processing. Manufacturers’ production capacity ... - more

   Courtesy AISI - In the week ending on December 14, 2024, domestic raw steel production was 1,651,000 net tons while the capability utilization rate was 74.3 percent. Production was 1,705,000 net tons in the week ending December 14, 2023, while the capability utilization then was 74.2 percent. - more

   Other News

• Indonesia attracts EV plants from three global automakers: minister - more
• Truckload rates near a 2-year high: What truckers need to know - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Friday's trading session at $7.19/lb ($15,850/tonne). Indicators at 6:00 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and ended last week reading just under the 165,200 tonne level. Shanghai nickel fell to 126,510 y/t. Base metals are trading lower this morning on disappointing China consumption data. Half the month is in the bag and Christmas is next week. Stay safe out there and have a great week! 
• Average price of LME traded cash nickel so far this month - $7.13/lb
  

    Friday's market review - LME stocks data supports copper, but dollar dominates - Copper prices came under pressure from a stronger dollar on Friday, but losses were limited due to London Metal Exchange ...  - more

   US leads available EU stainless CRC TRQ - Significant portions of EU fourth-quarter tariff rate quota (TRQ) allocations for stainless cold-rolled sheet and strip remain available for several countries, with the ... - more

   Base Metals Review of Year and Look Ahead Dec 24 - Our latest Youtube video is now available giving our review of base metal market trends in 2024 and look ahead to 2025. - video here

   Gupta granted delay on document disclosure in long-running Trafigura case - Prateek Gupta, who is accused of fraud by commodity trading firm Trafigura, on Friday secured a delay until the end of February in .... - more

• Trafigura net profit, equity drops after Mongolia fraud - more

   Other News

• The Hidden Power of Stainless Steel: How to Resist Corrosion and Rust? - more
• Global EV sales up 30.5% in September as China shines, Europe recuperates - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Thursday's trading session at $7.34/lb   ($16,190/tonne). Indicators at 5:50 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started today reading just over the 164,500 tonne level. Shanghai nickel retreated to 129,110 y/t overnight. All of nickel's gain yesterday, came early and in one big run. After that, the bulls chilled and the trading price of nickel has gone no where since. Still have found no real reason for the bump, so we suspect it was an attempt to spook the shorts, who did not bite. Slower news day so we leave you with it. Stay safe out there and have a great weekend!
  
• Average price of LME traded cash nickel so far this month - $7.13/lb
  

    Thursday's market review - Copper edges up on China stimulus hopes - London copper prices nudged higher on Thursday amid expectation of stimulus measures from top consumer China in the wake of the ... - more

    China's stainless steel downstream industries forecasted to grow steadily in 2025 - The downstream stainless steel industries in China faced a complex and diverse market environment in 2024. A vital component ... - more

    Abaxx to Launch Nickel Sulphate Futures on January 10, 2025 - Abaxx Technologies Inc., a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd. ... - more

    Rio Tinto and BHP face class actions over alleged sexual harassment at Australian sites - Rio Tinto and BHP are confronting class action lawsuits alleging that they created environments where female staff ... - more

   Other News

• Europe set to miss potential for battery material recycling - more
• Vale completes negotiations for iron ore briquette plant in the US - more
• Who is buying electric cars this year? And why? - more
• Europe needs emergency trade measures and adjustment: Lakshmi Mittal - more
• FedEx, UPS’ 2025 fee hikes will wallop bulky package shippers - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Wednesday's trading session at $7.20/lb ($15,865/tonne). Indicators at 6:00 am CST today show nickel trading around $.14/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell sharply on Wednesday and read just under the 163,650 tonne level this morning. Shanghai nickel jumped to 129,610 y/t overnight. Nickel jumped back above the $16,000 tonne level this morning, and we are unable to find any particular reason. It is possible Shanghai jumped on stimulus hopes and LME traders are playing follow the leader. This is typically the other way around, but the sudden jump overseas may have traders in the Western World wondering if they missed something. After yesterday's news that Indonesia may limit production there to bump up pricing, and Vale announcing job cuts due to the low price of nickel, maybe some traders are starting to 'hope' for higher prices again. We remain skeptical and see the $16,000 tonne level a safe level for the remainder of the year. Stay safe out there and have a great Thursday!
  
• Average price of LME traded cash nickel so far this month - $7.11/lb
  

    Wednesday's market review - Dollar weighs on copper, China stimulus in focus - Copper prices fell on Wednesday in response to a stronger U.S. dollar, paring gains that drove the market to one-month highs on... - more

   Downside risks persist for nickel amid supply glut - Nickel has been the worst-performing metal on the LME so far this year, with prices down around 3% year-to-date. We believe this under performance is likely to ... - more

• Commodities Outlook 2025 (full report) - pdf here
• Copper, nickel, iron ore, uranium, coal, rare earths, gold, silver…Where are prices headed in 2025? - more

    Indian stainless steel producers seek exclusive national policy for the sector - Indian domestic stainless steel producers have sought a separate 'national stainless steel policy' from their government, the Indian ... - more

    Australia not to continue AD & CVD measures on China’s deep drawn stainless steel sinks - On December 9, 2024, the Australian Anti-Dumping Commission announced that the Minister for Industry and Science ... - more

    Nation eyes nickel mining boom for economic growth - Indonesia is undergoing a significant transformation in its mining sector, particularly in nickel production, with substantial downstream projects underway. - more

    Vale lays off staff as mining operations worldwide reckon with low nickel prices - The company says it’s letting ‘non-operational’ staff go as it moves to ‘decentralized structure’ - more

    Central Clearing and Trade Cancellation: The Case of LME Nickel Contracts on March 8, 2022 - Why These Findings Are Important The use of mass trade cancellation is a risk management tool that was applied... - pdf here

   Other News

• Beijing considers weaker yuan as trade risks loom: Sources - more
• Electricity prices in Europe increased in November amid rising demand and gas prices - more
• How will 2024's top trends shape the market outlook? - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Tuesday's trading session at $7.15/lb ($15,760/tonne). Indicators at 5:35 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today reading just over the 166,500 tonne level. Shanghai nickel fell to 125,590 y/t overnight, There is an article in the Jakarta Post this morning, open only to subscribers, that is titled "Ministry to curb nickel output to push up global prices The government is planning to impose further curbs on domestic nickel production in a bid to improve global prices and local miners, but has not provided a potential time frame."  This could be big news but so far, the market is showing no signs of reacting, Stay safe out there and have a great hump day!
• Average price of LME traded cash nickel so far this month - $7.12/lb
  

    Tuesday's market review - Copper prices slip under pressure from China trade data, stronger dollar - Copper prices in London eased on Tuesday, reversing part of Monday’s 1.2% climb, under pressure from a ... - more

    Global Stainless Steel (Flat) Prices Drop in November Amid Weak Demand and Supply Shifts - The global Stainless Steel (Flat) market faced downward pressure in November, with prices declining across major ... - more

    Japan’s NSSC raises nickel-based cold-rolled stainless steel sheet prices for Dec - Nippon Steel Stainless Steel Corp. (NSSC), the largest stainless steel producer in Japan, announced a hike in the price of ... - more

    Industry body ISSDA seeks separate policy for stainless steel industry - Industry body Indian Stainless Steel Development Association (ISSDA) is pushing for a separate policy for the stainless steel industry. - more

    Consumption of stainless steel in India grows 11 percent over FY23: ISSDA -  India’s per capita consumption of stainless steel has increased to 3.1 kilogram in 2023-24 from 2.25 kgs five years ago that is in ... - more

• The Stainless Marvel - more

    Q&A: What could a US-China trade war mean for the energy transition? - Ahead of Donald Trump’s second term as US president, a rerun of his first trade war with China is firmly on the cards – and minerals key ... - more

   Other News

• German Chancellor proposes to reduce electricity costs for the steel industry  - more
• Global Electric Car Sales To Jump By 27% To More Than $1 Trillion By 2028 - more
• Nippon Steel makes final push to win over American workers - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Monday's trading session at $7.26/lb ($16,015/tonne). Indicators at 5:50 am CST today show nickel trading around $.08/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today reading just over the 165,800 tonne level. Shanghai nickel fell to 126,820 y/t overnight. Nickel is trading lower this morning on a weaker Euro. While some of the forecasts we have linked to are predicting higher prices for nickel in 2025, they are less than optimistic about it. Stay safe out there and have a great Tuesday!
  
• Average price of LME traded cash nickel so far this month - $7.13/lb
  

    Monday's market review - Copper jumps to approach one-month high on China hopes - Copper prices jumped on Monday to the highest in nearly a month after top metals consumer China said it would take ... - more

    European stainless flats market stagnation persists - The European stainless flat steel market is currently experiencing downward pressure, as demonstrated by the decline in coil prices observed for December ... - more

   China Ferrochrome Price Trend in Last Week - This week, the price of high carbon ferrochrome was reduced by 100 yuan/50 base tons. Affected by the rise in iron prices and futures ore prices, the price of ... - more

   Russia's Nornickel says sees global nickel surplus of 150 kt in 2024-2025 - Russia's Nornickel GMKN.MM, the world's largest producer of palladium and a major producer of refined nickel, said on Tuesday it sees ... - more

   Fitch Ratings Revises Some Short- and Medium-Term Metals and Mining Price Assumptions - Fitch Ratings has raised its 2024-2025 assumptions for copper, lithium and gold due to higher year-to-date (ytd) prices ... - more

   US Mulls Backing Brazilian Nickel Plant With Up to $550 Million - The US government is considering whether to provide a loan of up to $550 million to help developing a nickel and cobalt mine in Brazil’s Northeast. - more

   Courtesy AISI - In the week ending on December 7, 2024, domestic raw steel production was 1,668,000 net tons while the capability utilization rate was 75.1 percent. Production was 1,705,000 net tons in the week ending December 7, 2023, while the capability utilization then was 74.2 percent. - more

   Other News

• China’s Metal Dominance - more
• BYD on track to top 2024 sales goal and outsell Ford, Honda - more
• How European steel industry can survive the perfect storm - more
• Made in America? Look Under the Hood - more
• US importers set to accelerate shipments to record levels on tariff, strike threats - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Friday's trading session at $7.28/lb  ($16,060/tonne). Indicators at 5:40 am CST today show nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Friday and ended the week reading just over the 116,400 tonne level. Shanghai nickel rose to 127,000 y/t overnight. Euro is trading a little higher this morning but so far, nickel appears comfortable hugging the $16,000 tonne level. Quiet news weekend so we pulled up some forecasts for nickel for 2025 from sources we typically wouldn't link too. Stay safe out there and have a great week!
  
• Average price of LME traded cash nickel so far this month - $7.13/lb
  

    Friday's market review - Copper hits three-week high on supply concerns, falling inventories - Copper prices touched a three-week high on Friday, boosted by declines in Chinese inventories and concerns about... - more

   BofA bullish on Aluminum, Copper, and Nickel in 2025 - Bank of America’s expects bullish spot returns for aluminum, copper, and nickel over the next six months, alongside gains in industrial metals, silver, Brent .... - more

• Will The Price Of Nickel Continue To Rise In 2024 and 2025? - more
• Nickel Price Prediction for 2025 - more
• WorldBank Commodity Markets Outlook - pdf here
• Nickel Outlook - more

   The world now depends on critical minerals. Who controls them? - The world as we know it is increasingly dependent on critical minerals. These elements underpin everything from smartphones and medical devices ... - more

   Other News

• Does Your Team Have 'Sales Amnesia'? - more
• Global trade reaching new highs, with opportunities and challenges for developing economies in 2025 - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Thursday's trading session at $7.25/lb ($15,990/tonne). Indicators at 5:50 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses slipped on Thursday and started today reading just over the 165,250 tonne level. Shanghai nickel rose to 126,320 y/t overnight. The tug of war between nickel bulls and bears continues with the $16,000 tonne level the big mud pond in between the two. The Euro is holding steady against the US Dollar and is edging up ever so slightly. The first week of December 2024 is nearly in the bag. Stay safe out there and have a great weekend!
  
• Average price of LME traded cash nickel so far this month - $7.12/lb
  

    Thursday's market review - Copper ticks lower on weak risk appetite, uncertainty on China - Copper prices edged lower on Thursday, weighed down by lacklustre risk appetite amid uncertainty about stimulus in ... - more

    Vietnam tops largest importer of China’s stainless steel in Oct - China Customs statistics showed that stainless steel exports were around 417,000 tons in October, a month-on-month decrease of 9% and a ... - more

    What are the latest market trends for chrome ore and ferrochrome? - At Chromium 2024 conference, ICDA Senior Market Research Analyst Tanya Atalay presented the latest supply-demand balance up to H1 ... - more

    Vale Base Metals to Make Dozens of Job Cuts in Management Cull - Vale SA’s base metals subsidiary will let go of dozens of managers to simplify its corporate structure and improve performance, according ... - more

   US tariffs will affect regional steel trade – Ternium CEO - In 2024, Mexico will have a steel trade deficit with the United States of 2.3 million tons. Mexico needs coordinated action to ensure a balanced steel market. - more

• Do Import Tariffs Protect U.S. Firms? - more
  

   Nornickel's largest investor Interros objects to Rusal lawsuit over dividends - Nornickel's largest shareholder Interros said on Thursday it had filed an objection to a London lawsuit brought by fellow shareholder... - more

   Nickel mining’s toll on Indonesia’s small islands: stories of resistance and survival - Independent journalism collective, Project Multatuli, traces the struggles faced by communities being threatened by mining ... - more

   Other News

• China takes countermeasures against US military firms, executives - more
• What the fall of the French government means for New Caledonia - more
• US judge rejects Boeing plea deal in fatal crashes - more
• South Korea's President Yoon must be suspended, his party leader says - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Wednesday's trading session at $7.30/lb ($16,100/tonne). Indicators at 5:45 am CST today show nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today reading just under the 165,400 tonne level. Shanghai nickel fell to 125,070 y/t overnight. Nickel has gone no where fast over the past two days, closing a mere $20/tonne higher yesterday and showing little enthusiasm to go either way this morning. For the moment the bears have the upper hand, but the bulls are fighting to keep the $16,000/tonne level in play. Stay safe out there and have a great Thursday!
  
• Average price of LME traded cash nickel so far this month - $7.11/lb
  

    Wednesday's market review - Copper prices slide under pressure from stronger dollar - Copper prices in London fell under pressure from a stronger dollar and technical factors on Wednesday while the market ... - more

   Stainless Steel Fabrication Market to Surpass $30.7 Bn by 2031 with 4.8% CAGR Growth - The global stainless steel fabrication market, valued at US$ 22.1 Bn in 2024, is projected to grow at a CAGR of 4.8% ... - more

    How a brazen US$1.1 billion nickel scam allegedly ensnared some of Singapore’s brightest - When Ng Yu Zhi strode into Singapore’s elite circles, he was seen as a financial wunderkind of sorts – a young ... - more

    Fintech Firm Clear Street Joins LME as Floor-Dealing Broker - Financial technology firm Clear Street has joined the London Metal Exchange as a dealer on its famous open-outcry trading floor. - more

   How Glencore is Making South African Smelting Greener - Pele Green Energy's solar PV power plant will support Glencore-Merafe Venture operations across South Africa, smelting ferrochrome more sustainably - more

   In Hunt for EV Metal, Miners Close in on Uncontacted People in Indonesia - In their pursuit of nickel, a key metal in EV batteries, miners are destroying the forest home of the Hongana Manyawa people on the ... - more

   Other News

• Watch the Process of Making Industrial Stainless Steel Pipes - more
• China’s Trade Reprisals May Extend to Minerals Like Rare Earths - more
• Donald Trump reiterates opposition to purchase of U.S. Steel by Japanese company - more
• Prime Minister Barnier to resign as France's political crisis deepens - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Tuesday's trading session at $7.29/lb  ($16,080/tonne). Indicators at 5:45 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today reading just over the 164,650 tonne level. Shanghai nickel rose to 127,890 y/t overnight. Nickel continues to rise this morning but the Euro is offering no help. It is possible traders are merely trading the trend, or the Chinese ban on exporting critical minerals to the U.S. announced yesterday, has traders wondering if nickel could fall into one of the countries cross hairs in the future. Cancelled warrants have risen from the 6% range for the past few months to near 11% today, so someone is either restocking for the year end, or gaming the system for the first time since last December. Time will tell. Stay safe out there and have a great hump day!
  
• Average price of LME traded cash nickel so far this month - $7.09/lb
  

    Tuesday's market review - Copper rebounds as dollar dips - Copper prices in London rose on Tuesday as the U.S. dollar weakened after rallying on Monday, although concerns about economic growth in top ... - more

    POSCO labor union takes step closer to launching first-ever strike - Unionized workers of South Korea's top steelmaker POSCO held a ceremony Monday to demonstrate their intention to launch their first-ever ... - more

    Bahlil Confirms RI Still Imports Nickel From Neighboring Countries: Filling In The Stock Of Raw Materials Is Not Haram - Minister of Energy and Mineral Resources Bahlil Lahadalia said Indonesia is still importing ... - more

    Vale completes Voisey's Bay mine expansion - Global metals company Vale has announced the successful completion of the Voisey’s Bay Mine Expansion project in Canada. - more

    Antam allocates $723 million for gold, bauxite, nickel exploration - PT Aneka Tambang (Antam), a state-owned diversified mining company in Indonesia, planned to invest US$723 million  in Capex over the next ... - more

   Other News

• Overnight curfew lifted in New Caledonia - more
• Electric Car Battery Replacement Costs - more
• Two Destroyers Defend U.S. Merchant Ships From Houthi Missile Barrage - more
• Manufacturing PMI Edges Up but Indicates Continued Contraction - more
• U.S. Economy Grows at 2.8% Pace in Q3 - more
• South Korean president faces impeachment after martial law debacle - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Monday's trading session at $7.13/lb ($15,725/tonne). Indicators at 6:00 am CST today show nickel trading around $.15/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Monday and started today reading just under the 164,450 tonne level. Shanghai nickel rose to 126,010 y.t overnight. Nickel is peeking tis head back above the $16,000/tonne level this morning, after dropping well below it over the past few trading days. Once again, with little fundamental news to help the bulls, this level is apparently their 'line in the sand', with the strength or weakness of the Euro moving the market. Here are your average commodity costs for November as compared to October - Nickel - $7.14/lb compared to $7.62/lb; Chrome - $5.60/lb unchanged from October, and Molybdenum - $22.25/lb compared to $22.30/lb. Stay safe out there and have a great Tuesday!
• Average price of LME traded cash nickel so far this month - $7.05/lb
  

     Monday's market review - Higher dollar sparks copper’s sell-off to 2-1/2-week low - Copper prices slipped to 2-1/2-week lows on Monday as a stronger U.S. dollar triggered a sell-off despite signs of recovering... - more

    JISF: Japan’s stainless steel exports grow in Oct m-o-m, with export unit price down - Statistics from the Japan Iron and Steel Federation (JISF) showed that Japan's stainless steel exports reached around ... - more

     US ferro-chrome market looking to new solutions, future pricing - After the announcement of the discontinuation of the quarterly European ferro-chrome benchmark in June 2024, the question of how to replace... - more

    Steel sales in Germany increased by 7.4% y/y in October - Sales of steel products in Germany in October this year increased by 7.4% year-on-year and by 6.7% month-on-month – to 838 thousand tons. This ... - more

    Courtesy AISI - In the week ending on November 30, 2024, domestic raw steel production was 1,638,000 net tons while the capability utilization rate was 73.8 percent. Production was 1,687,000 net tons in the week ending November 30, 2023, while the capability utilization then was 73.4 percent.  - more

    Indonesia to review compliance in move that could affect mine output, official says - Indonesia will check miners' compliance with environmental rules and other regulations and "reexamine" production quotas for ... - more

   Other News

• China bans export of key minerals to U.S. as trade frictions escalate - more
• What’s ahead for fabricators in 2025? - more
• China’s steel sector PMI decreases to 50.6 percent in November - more
• Taiwan and Baltic Sea cable incident: Why China-Lithuania ties are deteriorating - more
• China Is the World's Manufacturing Superpower - more
• The World's Suppliers - more
• GM to Sell Stake in Michigan EV Battery Plant to LG Energy - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Wednesday's trading session at $7.21/lb ($15,905/tonne), Thursday's session at $7.31/lb ($16,110/tonne), and Friday's trading at $7.24/lb  ($15,965/tonne). Indicators at 5:55 am CST today show nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses  rose sharply since our last update and ended last week reading just shy of the 163,150 tonne level. Shanghai nickel fell to 125,690 y/t overnight. The commodity trading board, including base metals, is a sea of red this morning as the US Dollar strengthens against the Euro on possible political unrest in France. It's a new month and the last one of 204. Stay safe out there and have a great Monday, week, and month. And it is never too early to say Merry Christmas!  
  
• Average price of LME traded cash nickel so far this month - $7.14/lb (average November)
  

     Friday's market review - Copper ends steady on optimism - Copper prices were little changed on Friday, supported by emerging signals of firmer demand in top metals consumer China but undermined by ... - more

    Italy’s stainless steel producer Arvedi AST suspends production at Terni plant in Nov 20-30 - Italy's stainless steel producer Arvedi AST decided to suspend production at its Terni plant from November 20 to 30,... - more

    China’s stainless steel imports rise, exports drop in Oct m-o-m - According to China Customs, China imported around 158,000 tons of stainless steel in October, up by 32.1% month on month but down by 44.3% ... - more

    China plans to restrict exports of a critical metal. But the market isn’t that worried - China will start limiting exports of critical metal tungsten this weekend, just as alternatives to Chinese suppliers of the metal ... - more

    New US tariffs may prompt stainless steel imports spike - Donald Trump’s threat of increased tariffs could provide a short-term uptick in stainless steel imports into the United States, undermining domestic ... - more

   Lithium and nickel developers in Latin America seek expansion, M&A opportunities  - Mine developers in Latin America are seeking new lithium and nickel prospects as current low market prices bring acquisition ... - more

   US bars more food, metal imports over China's alleged forced labor - (excerpt) Twenty-three of the newly added companies are in the agricultural sector. Others mine, smelt and process metallic materials .... - more

   'Monumental social crisis' looms in New Caledonia, warns business sector - A "monumental social crisis" looms in New Caledonia, small and medium business federation (CPME-NC) President Nicole Moreau has .... - more

• Pro-independence Union Calédonienne unveils plans for New Caledonia’s political future - more

   Other News

• Indonesia's nickel surge: The downsideーNHK World-Japan News - video here
• Steel Imports Up 12.0% In October vs. September - more
• Trump warns BRICS not to undermine dollar, threatening 100% tariffs - more
• Canada pulls refugee welcome mat, launches ads warning asylum claims hard - more

  Economic Stats and Prices (posted in Friday edition)