Daily Nickel/Stainless Steel Briefing 

• Nickel closed Thursday's trading session at $6.99/lb ($15,410/tonne). Indicators at 6:00 am CST today show nickel trading around $.08/lb  lower. Stockpiles of nickel stored in LME licensed warehouses went unchanged for a second day and remain reading just over the 172,300 tonne level. And Shanghai remains closed on holiday. Nickel continues its retreat, the media blaming the threat of tariffs, we tend to think the bulls ran out of gas when Indonesia announced its production of nickel for 2025 would remain elevated. Regardless of why, the bears have the $15,000 tonne level in view, when two weeks ago, the bulls breeched the $16,000 tonne level. It's the last work day of the month and we want to take this opportunity to thank our annual sponsor, PA Inc. We invite you to visit their website, here. Thanks to their continued support, we can provide this daily business news page free to all. We thank you for visiting today, stay safe out there, and have a great weekend!  
• Average price of LME traded cash nickel so far this month - $6.98/lb
  

    Thursday's market review - Copper, aluminium edge higher as market awaits tariff details - Copper and aluminium prices crept higher on Thursday as investors waited to see whether U.S. President Donald ... - more

   IMFA expects ferrochrome prices to improve by first quarter next year - Ferrochrome prices have been weak due to global conflicts, sluggish demand, and weak economic data from China, with realisations down ... - more

   Jindal Stainless cuts its volume growth guidance again - Jindal Stainless, the country’s largest producer of stainless steel, has cut its volume growth guidance for the second time in the current fiscal amid a ... - more

   Almonty enters molybdenum offtake deal with SpaceX contractor SeAH - Almonty Industries, a global producer of tungsten concentrates, has entered an exclusive offtake agreement with SeAH M&S,... - more

   Experts warn nickel mining threatens Indonesia’s vital marine region - A newly released report highlights the growing threat posed by nickel mining projects to one of the planet’s most biodiverse marine regions in ... - more

   Other News

• China's iron ore imports reach record levels in 2024 - more
• Nearly half of managers predict layoffs in 2025 - more
• OpenAI now wants to make DeepSeek look like the villain - more   (Right after President Trump announced a $500 Billion dollar partnership with three U.S. companies with a goal to keep U.S. ahead in the A.I. race, a small Chinese company released an open source A.I. chatbot that stunned the technology industry because it operates using much less GPU power than thought possible, developed for a few million dollars instead of the billions U.S. investors are spending, and released open source for any/everyone to analyze. Having lost billions in value this week, American companies have no alternative in the short term but to scream foul. If the goal of this release was to embarrass the U.S., it definetly should be, as President Trump called it, a wake up call to U.S. industry.)  
• Cyber attacks against DeepSeek escalate with botnets joining, command surging over 100 times: lab - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Wednesday's trading session at $7.03/lb ($15,505/tonne). Indicators at 5:50 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses went unchanged unchanged on Wednesday and remains reading just over the 172,300 tonne level. Shanghai remains closed for a holiday. Nickel bulls are slowly losing ground as nickel trades nearer the $15,000 tonne level. China remains on holiday and will not return until next Wednesday. The tariff threat remains a cloud over the market, with the uncertainties on what may, or may not, take place effective February 1st, Stay safe out there and have a great Thursday!
  
• Average price of LME traded cash nickel so far this month - $6.99/lb
  

    Wednesday's market review - Copper hits three-week low as US tariff threats cloud demand outlook -  Copper prices in London fell to their lowest in three weeks on Wednesday as U.S. President Donald Trump’s... - more

   How Nickel Industrialization Is Transforming Indonesia’s Economy - The shift from exporting raw minerals to industrializing the downstream mining sector has significantly impacted Indonesia’s economy, Energy and ... - more

• Indonesian Nickel Dominates 65% of the Global Nickel Market - more

   India Approves $1.9 Billion Program for Critical Minerals - India’s cabinet approved a 163-billion-rupee ($1.9 billion) program to secure supplies of a range of minerals used mainly in battery, electronics, ... - more

   Glencore reports lower metals production in 2024 - Glencore, opens new tab on Thursday reported lower copper, cobalt, zinc, nickel and thermal coal production in 2024, in line with guidance. - more

   Trump commerce chief pick Lutnick says he prefers across-the-board tariffs by country - President Donald Trump's nominee to run the Commerce Department, Howard Lutnick, said on Wednesday that he has ... - more

• US tariff threat hangs over North American steel sector - more

   Other News

• Why EV sales are set to skyrocket in 2025 - more
• White House evaluates effect of China AI app DeepSeek on national security - more
  

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Tuesday's trading session at $7.02/lb ($15,480/tonne). Indicators at 5:40 am CST today show nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and ended yesterday reading just over the 172,300 tonne level. Shanghai markets remain closed. Market news dried up with China starting their week long holiday, and the media has temporarily shifted its primary focus from Trump to the AI model DeepSeek that has shocked the world. And today it was announced another Chinese model was released overnight, to compete with DeepSeek. The West has been thoroughly convinced that companies like Nvidia pretty well ruled the roost on AI and its taken a few weeks for the engineers to confirm DeepSeek is not only legit, but comparable. When news of that broke, Nvidia stock lost nearly $600 Billion, the biggest one day market loss in history. And now engineers will have another Chinese model to investigate, so this story may not lose its buzz for some time. AI is a new thing for us today, and like computers will likely be a fact of life for our kids, and like the fax machine, could be a relic to our grandchildren. Stay safe out there and have a great hump day!
  
• Average price of LME traded cash nickel so far this month - $6.99/lb
  

    Tuesday's market review - Comex copper premium vs LME expands after Trump tariff threat - Copper traded on the U.S. Comex exchange expanded its premium against its London counterpart on Tuesday after .... - more

    Stainless Steel CR Coil Prices Climb Amid Rising Demand and Industry Upgrades - With the week ending on 25th January, the US, Germany and China Stainless Steel CR Coil market saw a price rise, supported ... - more

    Workers win at Vale Long Harbour with Yes vote to join the USW - Workers at Vale Long Harbour are delighted to learn they have successfully won their union vote with the United Steelworkers union (USW). - more

   Other News

• DeepSeek launches new AI model as Trump cautions of ‘wake-up call’ to US industry - more
• Nearly 3 in 4 workers say they can only meet their basic living expenses - more
• Alibaba releases AI model it says surpasses DeepSeek - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Monday's trading session at $7.11/lb ($15,675/tonne). Indicators at 5:50 am CST today show nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today reading around the 173,100 tonne level. Shanghai market are closed for holiday. Nickel is lower this morning, as a lower Euro adds negative pressure on traders. China is shut down for their week long New Years holiday, so we expect news to be somewhat lighter than usual. China's manufacturing PMI fell back below 50 in January it was announced prior to their shut down. Stay safe out there and have a great Tuesday!
  
• Average price of LME traded cash nickel so far this month - $7.00/lb
  

    Monday's market review - Copper retreats as China sells ahead of Lunar holiday - Copper prices slipped on Monday as weak manufacturing data from top consumer China suggested deteriorating demand ... - more

   FY26 Budget: Jindal Stainless wants nil import duty on molybdenum ore, other raw materials - New Delhi, Ahead of the Union budget, Jindal Stainless has pitched for bringing down to nil the import duties ... - more

   Nornickel sees up to 3% nickel output increase in 2025 - Russia’s Nornickel, the world’s major producer of refined nickel and palladium, said on Monday it sees its nickel output at 204,000-211,000 metric tons in ... - more

  Trump’s EV Policy Reversal Threatens Indonesia’s Nickel Industry and Green Energy Transition - A recent executive order by US President Donald Trump rolling back electric vehicle (EV) mandates is likely to ... - more

   Courtesy AISI -  In the week ending on January 25, 2025, domestic raw steel production was 1,641,000 net tons while the capability utilization rate was 73.7 percent. Production was 1,629,000 net tons in the week ending January 25, 2024, while the capability utilization then was 73.3 percent. - more

   Other News

• Exploring Stainless Steel: Innovations in material technology - more
• Global Steel Output Drops for Third Straight Year - more
• Vale Shares Shed $17 Billion as Iron Ore Slump Foils Turnaround - more
• Pro-independence FLNKS Congress agrees to talks, but on conditions - more
• Trump’s copper, aluminium tariffs may raise costs for U.S. consumers - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Friday's trading session at $7.08/lb ($15,615/tonne). Indicators at 6:00 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses slipped slightly on Friday and ended the week reading just over the 173,750 tonne level. Shanghai nickel rose to 124,150 y/t overnight and they are now closed until next Wednesday for the Chinese New Year week long holiday. Here is a calendar showing Chinese holidays for 2025 and even a countdown clock here. Nickel is trading higher on a stronger Euro and maybe playing a little catchup from last week. where we saw a stronger Euro but lower nickel. The uncertainty surrounding the new administration in the US had base metal traders nervous, but less so this morning. News from Vale could be big although we suspect this is more of a strategic move (yes a play on words) than anything else. President Trump is talking a lot about securing strategic minerals, and making sure Canada's nickel stays with a friendly supplier, makes Vale much more valuable to the United States. Hopefully the administration will recognize our close friendship with Canada lessens the urgency for the US to 'secure' its own mines. In the mean time, Vale might be floating the idea of a possible sale just to see how much the need for strategic minerals is worth these days. Stay safe out there and have a great Monday - and week! 
  
• Average price of LME traded cash nickel so far this month - $6.99/lb
  

    Friday's market review - Copper hits 10-week peak on hopes for Trump deal with China - Copper prices jumped to their highest in more than two months on Friday as investors became more optimistic about ... - more

    Vale Eyes Nickel Exit of Key Canadian Mines Could Shake Up the EV Battery Supply Chain - Vale  is shaking up its nickel game. The mining giant just kicked off a strategic review that could lead to ... - more

    EU stainless flats start year slow - The European stainless flat steel market is experiencing a slow recovery this year, stainless steel processors and service centres tell Kallanish. - more

• EU’s AD duties on stainless HRC from three countries close to expiring - more

    ESDM clarifies speculation of Nickel Royalty hike to 15 percent - The Ministry of Energy and Mineral Resources (ESDM) has calmly responded to widespread speculation of planned increase in nickel royalties ... - more

    Base Metals & China – Why So Glum? - China is a crucial driver for the LME metal markets and financial market sentiment still looks depressed in the country, with equity markets dropping in the first few weeks ... - more

• Nickel-Iron Plants Are Experiencing Losses and Maintaining Just-in-Time Procurement - more

    Global steel production fell by 0.9% y/y in 2024 - Global steel production in 2024 decreased by 0.9% compared to 2023 – to 1.839 billion tons. This is evidenced by the global ranking of steel-producing countries ... - more

• December 2024 crude steel production and 2024 global crude steel production totals - more

   Other News

• Canadian and Mexican steelmakers refuse new orders from the US - more
• US dollar posts biggest weekly loss since November 2023 on tariff angst - more
• Trump Pledged Cheaper Prices and Lower Interest Rates, but a Transformed Economy Will Make It Difficult - more
• Best of 'frenemies': Trump's relationship with Europe this time may be very different - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Thursday's trading session at $7.09/lb ($15,630/tonne). Indicators at 5:40 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 over the 173,800 tonne level. Stockpiles have risen nearly 13,300 tonnes so far this year, Shanghai nickel slipped to 123,710 y/t overnight. Chinese metals markets will close next Tuesday for Chinese New Year and reopen on Wednesday, February 5th. This can make for a slow news week, and with a new administration keeping the media busy, news about stainless steel and nickel may be hard to come by next week. But we will be here and invite you to stop by as well. Stay safe out there and have a great weekend!
• Average price of LME traded cash nickel so far this month - $6.99/lb
  

    Thursday's market review - Copper prices dented by profit-taking amid tariff and China uncertainty - Copper prices retreated on Thursday as investors locked in profits from a recent rally, awaiting further clarity ... - more

    Stainless Steel Spot Stabilized Before the Holiday, Inventory Buildup Wave May Follow After the Holiday [SMM Analysis] - This week, stainless steel spot prices remained stable, with the market relatively sluggish. ... - more

• China's stainless steel market shows rising exports & reduced imports in 2024 - more

    Indonesia approves 2025 nickel mining quota - Indonesia has approved the 2025 nickel mining quota at 298.5 million wet metric tons, the country’s nickel miner association APNI told a parliamentary hearing. - more

• Indonesia Follows The Chinese Market-Control Playbook In Nickel - more

    Saudi Arabia Faces Investor Doubts Over Big Mining Ambition - Saudi Arabia faces a pivotal moment in its push to build a metals and mining hub, with foreign players still showing more hunger for the kingdom’s ... - more

    Universal Stainless Announces Completion of its Acquisition by Aperam - Universal Stainless & Alloy Products, Inc. (“Universal” or the “Company”) today announced the completion of its previously-announced ... - more

   Other News

• JP Morgan's Dimon argues tariffs are good for US security even if inflationary: 'Get over it' - more
• EU imported 5.04 million tons of steel raw materials from Russia in January-November - more
• Canada vows strong response to Trump’s tariff threats, Mexico urges ‘calm’ - more
• Trump at Davos: NATO 5% push, tariff warnings for Europe - more
• Dun & Bradstreet Global Business Optimism Insights Report reveals cautious economic outlook for Q1 2025 - more
• What's Your Chinese Zodiac Sign? - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Wednesday's trading session at $7.13/lb ($15,720/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and ended that session reading just over the 173,050 tonne level. Shanghai nickel fell to 123,960 y/t overnight, and we are switching to the March contract which read 124,150 y/t this morning. Reuters is reporting that Indonesia's mining association told parliament that the government has approved a nickel mining quota of 298.5 million wet metric tonnes for 2025, higher than the 271.89 m wmt approved for 2024. Both of these numbers are lower than was reported in the media a few weeks ago, but appear to quiet claims that quota cuts were under consideration. The article title belows says it all "Only Indonesia can help nickel recover from price bust". This is not something you would have seen written, let alone imagined, a decade ago. The story of nickel has gone from Chinese demand to Chinese pig nickel to the Indonesia export ban to the EV industry to Indonesia supply. What new curve might we witness in 2025? Stay tuned, stay safe out there, and have a great Thursday!
• Average price of LME traded cash nickel so far this month - $6.99/lb
  

    Wednesday's market review - Base metals fall on US import tariff threat  - Base metals fell on Tuesday as the risk of possible trade wars hurting current trade flows resurfaced after President Donald Trump ... - more

    European stainless scrap outlook uncertain on sustained bearish fundamentals - The stainless steel scrap outlook in Europe remains foggy as the market enters the new year on the back of waning demand and ... - more

    Only Indonesia can help nickel recover from price bust - Nickel ended 2024 trading at four-year lows, a spectacular reversal of fortune for a metal that soared so high in 2022 it almost broke the London Metal ... - more

• Indonesian parliament proposes revision of mining law - more

    GACC: China's ferro-nickel imports rise 6.2% in 2024 - China's ferro-nickel imports reached 8.98 million tonnes in 2024, marking a 6.24% year-on-year increase, according to the latest data from China's General ... - more

• GACC: China's stainless scrap imports plunge 70% YoY in 2024 - more
  

    Merafe Resources sustains stable FeCr output in 2024 - Merafe Resources, a South African mining giant, reported on January 17 its full-year ferrochrome (FeCr) production for 2024, showing stable production... - more

    Nickel mining in North America: it’s a US national security issue - By 2030, demand for battery-grade nickel is projected to triple, driven largely by production of electric vehicles (EVs) in the West. - more

   Exclusive: LME plans to consult on tackling warehouse gridlock - The London Metal Exchange (LME) plans to launch a consultation on revamping its warehouse storage rules, four sources with knowledge of the ... - more

    Courtesy AISI - In the week ending on January 18, 2025, domestic raw steel production was 1,644,000 net tons while the capability utilization rate was 73.8 percent. Production was 1,629,000 net tons in the week ending January 18, 2024, while the capability utilization then was 73.3 percent. - more

   Other News

• Trump eyes 10% China tariff hike by Feb. 1 - more
  

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Tuesday's trading session at $7.28/lb ($16,040/tonne). Indicators at 5:45 am CST today show nickel trading around $.12/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply again on Tuesday and started today's session reading just over the 172,200 tonne level. Shanghai nickel slumped to 126,500 y/t overnight. The Euro is higher this morning, while base metals are all trading lower. The Euro is apparently trading higher because President Trump's threat of a 10% tariff against Europe came with an invitation to negotiate. That threat is possibly what turned nickel around from its bullish 2025 start, or it could be merely the bulls taking a breather. Time will tell, but nickel is down sharply this morning. Article below titled "Results of China's Steel Industry" with some great graphs for those interested in tracking China's steel exports. First few days of a new administration and apparently, until the dust settles, that is all the media seems to want to talk about. Stay safe out there and have a great hump day!
  
• Average price of LME traded cash nickel so far this month - $6.98/lb
  

    Tuesday's market review - Metals fall on dollar strength after Trump's tariff talks - Most base metals trended lower on Tuesday due to a rebound in the U.S. dollar amid concerns over the economic impact of ... - more

    GACC: China's stainless steel exports surge 26% YoY in 2024 - China's stainless steel exports totaled 5.04 million tonnes in 2024, according to data released by the General Administration of Customs (GACC) ... - more

• China’s stainless steel price continues to increase last week - more
• China’s record high ferronickel imports not to impact stainless steel prices - more
• Results of China's Steel Industry - more
  

    How historical innovations are shaping modern stainless steel alloys - Since its discovery in the early 20th century, stainless steel has revolutionized industry after industry. Now, as attention turns toward making ... - more

• History of Stainless Steel - more

• Land Clearance for Nickel Mining Harms Climate - more

   Other News

• Indonesia to make resource exporters hold all proceeds onshore for a year - more
• IMF Raises Global Economic Growth Forecast on Stronger U.S. Demand - more
• Trump Withdraws All Federal Waters From Future Offshore Wind Leasing - more
• Trump plans to declare a 'national energy emergency.' What does that mean? - more
• Trump’s influence on Copper-Nickel mining considered - more
• Trump delivers fresh tariff threats against EU and China - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Monday's trading session at $7.30/lb ($16,085/tonne). Indicators at 5:40 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Monday and remain reading just over the 170,200 tonne level. Shanghai nickel rose to 128,090 y/t overnight. While Trump is officially back in office, he backed off on his tariff threat for day one, and has taken the matter under advisement. This means there remains more questions than answers on one of the political questions that could affect the price of base metals in the future. At least for the moment, nickel is quietly creeping northward, and is back above the $16,000 tonne level. Stay safe out there and have a great Tuesday!
  
• Average price of LME traded cash nickel so far this month - $6.97/lb
  

    Monday's market review - Copper jumps to 1-month peak after Trump shelves tariffs, for now - Copper prices jumped to their highest in more than a month after Donald Trump was quoted as saying the United ... - more

    Nickel sulfate prices to rise after the Chinese New Year - As the Chinese New Year approaches, the nickel sulfate market has experienced weak trading activity, as most companies have already completed their ... - more

• Chinese steelmakers to cut production amid falling demand - more

   Stainless steel: how “origami” manufacturing techniques could transform the industry - The steel industry, a vital supplier for many sectors and aspects of daily life is traditionally considered one of the most ... - more

   LME approves Hong Kong as delivery point for metals - The London Metal Exchange has approved Hong Kong as an LME delivery point and the listing will become active three months after the first warehouse ... - more

• LME's green light for HK warehouses shot in arm for business, says Hui - more

   Other News

• A partner in stainless steel fasteners - more
  

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Friday's trading session at $7.28/lb ($16,050/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and ended last week reading just over the 170,200 tonne level. Shanghai nickel started the week falling to 126,640 y/t overnight. LME nickel ended last week just peeking its head above the $16,000 tonne level. but jitters returned this morning and the price of nickel is trading below that level. The official beginning of the Chinese New Year is next Tuesday and typically last one full week, but we are still waiting on the Shanghai Metals Market to publish their closed days. Elon Musk's SpaceX did their part to help stainless steel demand last week when their stainless steel Starship blew up shortly after takeoff on Friday. This was after a successful separation, return and capture of the biggest part that uses stainless steel - the giant rocket. Whatever your personal feelings are toward Mr Musk, his stainless steel Starship is a thing of beauty and we look forward to the day when the learning curve for this beast is behind it. Demand for stainless may fall for rocket replacements, but Elon is one heck of a sales person for the aesthetics of stainless steel and good for our industry. Stay safe out there and have a great week!
• Average price of LME traded cash nickel so far this month - $6.96/lb
  

    Friday's market review - Copper Has Gained Most Among Six Industrial Metals on the LME in 2025 - One industrial metal which has just recorded its longest winning streak since 2017, with eight consecutive days of ... - more

   Global Stainless Steel CR Coil Market Struggles with Price Declines, Soft Demand in Key Regions - With the week ending on 10th January, the global Stainless Steel CR Coil market exhibited price declines of 0.4% ... - more

   Ferrochrome production again only marginally up, Merafe’s latest report shows - The attributable ferrochrome production from the Glencore Merafe Chrome Venture for the fourth quarter was 70 000 t, resulting in ... - more

   Rio Tinto, Glencore discuss mega merger to take on BHP - Rio Tinto Group and Glencore Plc have held early stage talks about combining their businesses to create a behemoth to rival longstanding industry titan ... - more

   Other News

• Indonesia: The downstreaming dilemma - more
• US FAA probes reports of SpaceX rocket debris landing in Turks and Caicos - more    
• EU plans ban on 'forever chemicals' in consumer products - more
  

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Thursday's trading session at $7.24/lb  ($15,960/tonne). Indicators at 6:00 am CST today show nickel trading unchanged. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Thursday and started today's trading session reading just under the 169,500 tonne level. Stockpiles numbers are up nearly 9,000 tonnes so far this month/year. Shanghai nickel ticked higher to 128,170 y/t overnight. Nickel trading is quiet so far today as markets around the world await the new U.S President being sworn in on Monday. Lot of campaign pledges have been made about action to be taken on "day one", so traders want to see what will happen and what effect it might have on the global economy. While we wait, have a great Friday, enjoy your weekend, and stay safe out there. 
  
• Average price of LME traded cash nickel so far this month - $6.94/lb
  

    Thursday's market review - Copper hits five-week peak on China stimulus hopes  - Copper prices touched a five-week high on Thursday after the dollar's rally paused and investors had renewed hope that China ... - more

    Universal Stainless Stockholders Approve Acquisition by Aperam - Universal Stainless & Alloy Products, Inc. today announced that its stockholders have voted at a special meeting of Universal stockholders .. - more

    China's steel industry faces uncertainty in 2025 amid weak demand - China, contributing 54% of global crude steel production, faces a challenging 2025 due to continued weak domestic demand. Despite the ... - more

    Korea Imposes 21.62% Provisional Anti-dumping Duty on Chinese Stainless Steel Plates - The Trade Commission of the Ministry of Trade, Industry, and Energy has decided to recommend the Ministry of ... - more

• Korea Zinc's nickel sulfate technology gains status as national strategic technology - more

    The Hardness of Stainless Steel: An In-Depth Guide - What makes stainless steel a versatile material for countless industrial applications? At the heart of its adaptability lies a fascinating interplay of hardness, ... - more

    IP association criticizes Amnesty International’s nickel mining report as ‘inaccurate’ - An organization representing indigenous communities in Palawan is calling on Amnesty International to retract a report accusing ... - more

   Other News

• Zambia says Saudi’s Manara interested in its copper assets - more
• Elon Musk, Who Wants To End EV Subsidies, Is Mad Tesla Was Denied Subsidies - more
• Immigrant US farmworkers prepare for Trump mass deportation plan - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Wednesday's trading session at $7.21/lb ($15,890/tonne). Indicators at 5:40 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and ended tat session reading just under the 168,000 tonne level. Shanghai nickel rose to 128,600 y/t overnight. The 2025 nickel bull run has paused just shy of the $16,000 tonne level. Pauses are not something that typically last very long in base metals trading, as traders can not make money if the price isn't moving one way or the other. Stay safe out there and have a great Thursday!
  
• Average price of LME traded cash nickel so far this month - $6.92/lb
  

    Wednesday's market review - EU sanctions threat on Russian metal supports aluminium price - Aluminium prices in London rose on Wednesday due to worries about tightening supplies to the European Union ... - more

   China: Ferro chrome prices largely steady w-o-w in cautious market - The ferro chrome market remained largely steady, with some price increases. High-carbon ferro chrome prices remained stable, while ... - more

• Stainless steel price in Chinese market recovering - more
• Hong Kong should seize role in clean-energy commodities, think tank says - more

   The Future of Nickel: Indonesia's Strategic Role - In 2025, Indonesia will likely flex its muscles as the dominant nickel producer to manage supply and push prices higher, targeting the $20,000-$21,000/tonne range. - more

• Vale Indonesia awards Petrosea $1 billion contract for nickel ore mining - more

• Canada wants G-7 talks on metals pricing to counter China's market sway - more

   The critical minerals race will heat up in 2025 - The race for minerals to power renewable technologies is set to ramp up in 2025 as governments in Europe and North America compete to secure access to crucial ... - more

• Mining & metals 2025: Poised on the chessboard of geopolitics - more
• Protectionist Policies May Affect Demand for Energy Transition Metals - more

   Other News

• December inflation data puts future Fed cuts to bed - more
• Americans Overwhelmingly Support Stricter Fuel-Economy Standards: Study - more
• Rescue teams uncover 36 corpses, 82 survivors from illegal South Africa mine - more
• Six best practices for supply chain organizations to get the most out of younger employees - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Tuesday's trading session at $7.23/lb ($15,950/tonne). Indicators at 5:50 am CST today show nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Tuesday and started today's session reading just over the 167,800 tonne level. Shanghai nickel slipped to 127,560 y/t overnight. Nickel closed within $50tonne of the $16,000/tonne level yesterday, but has backed off since. A 3200+ gain in LME stockpiles is not encouraging news to the bulls, who were trying to convince themselves Indonesia was going to actually sacrifice its economic prosperity for the good of nickel miners elsewhere. Indonesia announced it was lowering its economic growth figures today from earlier expectations, so counting on them to take one for the team, is not exactly realistic. Stay safe out there and have a great hump day!!
  
• Average price of LME traded cash nickel so far this month - $6.90/lb
  

    Tuesday's market review - Copper steadies at one-month peak as China stimulus kicks in - Benchmark copper prices extended gains on Tuesday, holding at their highest levels in a month, after data showed ... - more

   Nickel Forecast 2025: Can $66 Billion Investment Solve the Supply Gap? - The nickel market experienced downward price pressure in 2024, but 2025 is expected to add more complexities. - more

    Prices Decline Amid Nickel Price Volatility and Construction Sector Fluctuations in US - December 2024 saw a substantial decline of 3% in SMO254 prices in the U.S. spot market due to lower demand. This ... - more

    LME on last lap to approve Hong Kong as location for metal storage - The London Metal Exchange (LME) is concluding its process for approving Hong Kong as a location for its global metals warehousing network... - more

    Minister Visits Weda Bay Park to Support Nickel Downstreaming: CEO - Minister of Investment and Downstreaming Rosan Roeslani's visit to the Indonesia Weda Bay Industrial Park (IWIP) in Ternate, North Maluku, ... - more

   Other News

• China’s Spring Festival travel rush officially starts... - more
• US Warns of Health Risks From Sewage Use for Fertilizer- more
• Cleveland-Cliffs CEO continues quest to acquire US Steel - more
• Solar, battery capacity saved the Texas grid last summer; an uncertain future awaits - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Monday's trading session at $7.21/lb ($15,900/tonne). Indicators at 5:45 am CST today show nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session reading just under the 164,600 tonne level. Shanghai nickel slipped to 127,680 y/t overnight. Quiet morning so far, with nickel traders nearly ready to take a shot at the $16,000 tonne level for the first time this year. Stay safe out there and have a great Tuesday!
  
• Average price of LME traded cash nickel so far this month - $6.88/lb
  

    Monday's market review - Copper rallies to one-month peak on signs of improving demand - Copper prices hit one-month peaks on Monday on optimism about global growth and demand, particularly in top ... - more

   Russia’s stainless steel output falls in Jan-Nov 2024 - According to statistics from the Russian Federal State Statistics Service (Rosstat), Russia’s stainless steel production totaled around 22,600 tons in November ... - more

   LME puts 2022 nickel crisis behind it as trading booms - The London Metal Exchange (LME) has now fully recovered from its near-death nickel crisis in 2022, with trading activity last year the strongest since 2015 ... - more

   Imports/Exports of Nickel to the United States - more // Imports/Exports of Stainless Steel to the United States - more

   New Caledonia nickel firm appoints new chair - New Caledonia's mothballed nickel plant, Koniambo nickel (KNS) has appointed a new chairman in early January. - more

   Base Metals & Trump: Rhetoric v Reality -  Donald Trump will start his second term as US President on 20 January and his approach is likely to be radically different to his predecessors, including attempts to ... - more

   Factbox-Greenland’s rich but largely untapped mineral resources - U.S. President-elect Donald Trump last week reiterated his interest in taking control of Greenland, a semi-autonomous territory of Denmark, ... - more

   Courtesy AISI - In the week ending on January 11, 2025, domestic raw steel production was 1,659,000 net tons while the capability utilization rate was 74.5 percent. Production was 1,629,000 net tons in the week ending January 11, 2024, while the capability utilization then was 73.3 percent. - more

   Other News

• Bolivia chooses Chinese consortium led by CATL for $1 billion lithium investment - more
• AAR sees ‘uncertainty’ for US railroads in 2025 - more
• China's iron ore imports reach record levels in 2024 - more
• 2024 Was the Planet's Warmest Year in Recorded History - more
• Labor shortages remain an ongoing concern in many parts of U.S. manufacturing - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Friday's trading session at $7.11/lb ($15,655/tonne). Indicators at 5:40 am CST today show nickel trading around $.05/lb  higher. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Friday and ended the week reading just over the 164,900 tonne level. Shanghai nickel rose to 127,700 y/t overnight. Nickel has bucked its late 2024 trend of playing follow the leader to the Euro, and with a strong U.S. jobs report on Friday hitting the Euro, nickel instead, kept up its 2025 bullish trend. The Euro continues its drop this morning, and yet, nickel prices continue to gain. We remain skeptical this run has much staying power, but the bulls have had a rough 2024, so they need to win a few. The news from Indonesia lowering the quota for 2025 will help stimulate some speculation, but its effect on the fundamentals is likely minimal. Overshadowing all this, is the tariff threats being made by the President elect when he takes office next week. New tariffs could further negatively dent the Euro, which could add more negative pressure on the traded price of nickel. Or not. Stay tuned and we will see what happens together. In the mean time, stay safe out there and have a great week!
• Average price of LME traded cash nickel so far this month - $6.85/lb
  

    Friday's market review - Copper touches near month high on China demand, Comex premium holds - Benchmark copper prices touched the highest in nearly a month on Friday, propelled by firmer demand in ... - more

   Weekly Review of the Indonesian Nickel Market for the First Week of 2025 - This week, influenced by significant policy uncertainty and the potential impact of the local rainy season on subsequent supply, the ... - more

   Nickel Sulphate Futures Now Live for Trading on Abaxx Exchange - Abaxx Technologies Inc., a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd. ... - more

   Unlocking the Power of Critical Minerals with US DOE’s $45 Million Investment: A Focus on Antimony - (article contains interesting graph showing US dependence on imports of numerous minerals)

 Tesla's Annual Sales Dropped for the First Time—but the EV Industry Keeps Growing - Just a few days into 2025, electric vehicles are already having a roller coaster ride of a year. Last week, Tesla kicked off the ... - more

   Other News

• Europe's aviation regulator issues new warning for Russian airspace - more
• Markups and Cost Pass-through Along the Supply Chain - pdf here

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Thursday's trading session at $7.01/lb ($15,450/tonne). Indicators at 6:05 am CST today show nickel trading around $.03/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started today reading just over the 164,900 tonne level. Shanghai nickel ticked lower to 125,480 y/t overnight. Indonesia announced a quota of 200 million metric tonnes of nickel for 2025, less than 10% off the 215 million tonnes mined in 2024. Traders initial reaction to this has been positive, but we will be interesting to see how long this enthusiasm lasts. More news below. Stay safe out there and have a great weekend!
• Average price of LME traded cash nickel so far this month - $6.83/lb
  

     Thursday's market review - Copper driven higher by technical factors - Copper prices extended gains for a sixth session on Thursday as technical factors provided momentum and outweighed concern over U.S.... - more

   Indonesia sets 2025 nickel ore mining quota at around 200Mt - Indonesia has set a quota of around 200-million metric tons for nickel ore mining this year, a senior mining ministry official said on Friday, adding ... - more

    South Korea's cold-rolled stainless steel imports grow in 2024 - According to data from the Korea Iron and Steel Association, in 2024, South Korea imported a total of 388,000 tons of cold-rolled stainless steel, ... - more

    India’s SMEL posts 59% surge in stainless steel production in Dec 2024 - Shyam Metalics and Energy Ltd., an Indian metal-producing company, reported that the company’s stainless steel production soared ... - more

    Steel mills are gradually starting maintenance plans, and the supply-demand relationship is gradually balancing [SMM Analysis] -  This week, stainless steel spot prices stabilized from a downward trend due to the ... - more

• China's 2025 policies set to drive stainless steel demand growth - more

   Several commodities face headwinds in 2025 — but this metal's record rally is set to continue - Global commodity prices are largely expected to fall in 2025, but certain items such as gold and gas are likely to see ... - more

   Why You Should Use Stainless Steel Dairy Equipment? - The demand for dairy products has been steadily rising over the decades, driven by growing global populations and evolving consumer preferences. ... - more

   Other News

• Volvo CEO says plan for Mexico truck factory ongoing despite US tariff threat - more
• Alcide Ponga is New Caledonia’s new president - more
• Canada’s leaders say Trump’s 51st state ‘joke’ isn’t funny any more - more
• Toxic Traces of Lead Mining in Missouri Are Hard to Erase - more
• Los Angeles wildfires devour thousands of homes, death toll rises to 10 - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Wednesday's trading session at $7.01/lb ($15,460/tonne). Indicators at 5:50 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell sharply on Tuesday and read just over the 164,300 tonne level this morning. Shanghai nickel ticked higher to 125,510 y/t overnight. Nickel is quiet this morning with the Euro trading just slightly higher against the Dollar at the moment. Macquarie grabbed the base metal coverage this morning with its claim that over 1/3 of worldwide nickel production could potentially disappear if Indonesia makes cuts to nickel mining quotas in 2025. The key word to the claim is "potential" and "if". If they announce new cuts to quotas on top of what they have been accused of already doing in 2024, there is a potential disruption to a percentage of global supply. Unless, of course, the furnaces look to the Philippines for ore, as they have already been doing. The article is interesting, but in some ways, unrealistically optimistic. You can read it below, with other industry news. Stay safe out there and have a great Thursday!
  
• Average price of LME traded cash nickel so far this month - $6.82/lb
  

    Wednesday's market review - Copper edges up on fund buying, capped by China tariff worries - Copper prices made modest gains on Wednesday as some funds dipped into the market, but uncertainty about ... - more

    EU manufacturers increasingly rely on stainless steel imports - In 2024, Europe saw a significant rise in stainless steel imports, including raw materials and semi-finished products. This trend reflected an ... - more

    China: Ferro chrome prices mostly stable w-o-w on supply-demand imbalances - The ferro chrome market remained generally stable w-o-w, with prices remaining unchanged for the high carbon variety, while ... - more

• South Africa's High-Carbon Ferrochrome Exports Rebound, But Weak Demand in the Chinese Market Affects Outlook [SMM Analysis] - more

   Two bids made for Glencore stake in New Caledonia's Koniambo Nickel -  Two potential buyers for Glencore's, opens new tab stake in mothballed New Caledonian nickel producer Koniambo Nickel SAS have ... - more

   Nickel Price 2024 Year-End Review - Despite a price surge in Q2, the nickel market saw weakness in 2024 as a glut of supply from Indonesia flooded the market. - more

   Other News

• Fitch warns of US debt-ceiling stalemate despite Republican-controlled government - more
• More Tussles Over Trump Tariffs - more
• Hollywood Hills burn as LA engulfed by 'the big one' - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Tuesday's trading session at $6.97/lb ($15,370/tonne). Indicators at 5:45 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Tuesday and still reads just over the 165,350 tonne level. Shanghai nickel rose to 125,230 y/t overnight. The Euro is sliding but nickel bulls remain undaunted so far. Busy news day so we leave you to it. Stay safe out there and have a great hump day!
  
• Average price of LME traded cash nickel so far this month - $6.80/lb
  

    Tuesday's market review - Copper edges up with support from tariff bets, weaker dollar - Copper prices rose in London on Tuesday, with some buying triggered by a weaker dollar and hopes that President-elect ... - more

    Stainless Steel CR Coil Prices Tumble in USA, China; Stable in Germany - With the week ending on 3rd January, the global Stainless-Steel CR Coil market in December showcased diverse trends across .... - more

    YC Inox starts stainless steel pipe production at Turkish subsidiary - YC Inox TR Çelik Sanayi ve Ticaret A.Ş., a Turkish subsidiary owned by Taiwan’s stainless steel producer YC Inox Co., Ltd., has started ... - more

    Global molybdenum production and usage rises in Q3 2024 - International Molybdenum Association (IMOA) show that global production of molybdenum rose by 2% to 162.4 million pounds (mlbs) and usage ... - more

   EVs, green tech seen driving nickel, copper demand in 2025 - Miners are expected to encounter stronger demand for major Philippine minerals like copper, nickel, and gold in 2025, industry officials said. - more

   LME activity up 18% in 2024, nickel volumes at pre-crisis level - Average daily volumes at the London Metal Exchange, the world’s largest and oldest metals forum, gained 18% to 664,698 lots in 2024 with nickel ... - more

• LME expresses satisfaction with its 2024 activity levels - more

   Stainless Steel Metal Casting: A Complete Guide to Processes and Applications - Over the ages, metal casting, one of the oldest and most adaptable manufacturing methods, has evolved significantly, enabling the... - more

   Courtesy AISI - In the week ending on January 4, 2025, domestic raw steel production was 1,635,000 net tons while the capability utilization rate was 73.6 percent. Production was 1,656,000 net tons in the week ending January 4, 2024, while the capability utilization then was 73.7 percent.  - more

   Photo Essay: How Nickel Smelting Threatens Indigenous Tribe’s Ancestral Home in Indonesia - The deafening roar of bulldozers ripped through the tranquil forest, scattering birds and shattering the harmony that... - more

   Other News

• Canada's trade surplus with U.S. widens before Trump's return - more
• China to Curb Exports of Lithium Battery Tech - more
• As population trends shift, where will future workers come from? - more
• Trudeau 'wish list' fell short for miners in green energy transition - more
• Years of Excess Press China’s Economy - more  (WSJ excerpt) "Now, China’s goal of overtaking the U.S. as the world’s largest economy might take decades longer than Beijing expected—if it happens at all."

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Monday's trading session at $6.90/lb ($15,220/tonne). Indicators at 5:45 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Monday and started today reading just over the 165,350 tonne level. Shanghai nickel ticked higher to 122,720 y/t overnight. The U.S. Dollar fell yesterday early on a report by the Washington Post that Trump insiders were claiming the tariff's Trump promised would not be as broad based as earlier reported. With the Euro jumping, nickel followed suit. Later, Trump tweeted the story was wrong and the Euro lost some of its earlier gains. With this, nickel calmed as well. This morning the Euro is stronger again, with nickel playing follow the leader. With fundamentals giving out rather depressing signals, the strength or weakness of the Euro is about the only thing keeping nickel bulls awake these days. Stay safe, stay warm, and have a great Tuesday!
  
• Average price of LME traded cash nickel so far this month - $6.78/lb
  

    Monday's market review - Copper lifted by softer dollar but uncertainty clouds outlook - Copper prices rose as the dollar eased on Monday, but gains were capped by uncertainty over the demand outlook in ... - more

    Challenges and Market Dynamics in the High-Grade Nickel Pig Iron Industry - In this week's developments in the nickel industry, the market performance of SMM 8-12% high-grade nickel pig iron (NPI) has ... - more

• SunSirs: Stainless Steel Closed Higher on January 6th - more

   Nickel Asia Aims to Sell Processing Plant Stake to Sumitomo - Nickel Asia Corp. is in talks to unload its minority stake in a key processing plant to Japan’s Sumitomo Metal Mining Co. as the Philippines’ top ... - more

   Indonesia’s Nickel Business Is Boosting Development and Ruining Lives - Even after 33 days in the hospital, eight operations, and more than a year of recovery, La-Taha still does not have full use of his hand. - more

   Order Regarding the Proposed Acquisition of United States Steel Corporation by Nippon Steel Corporation - The Purchasers and U.S. Steel shall take all steps necessary to fully and permanently abandon the ... - more

• Nippon and US Steel challenge blocked takeover - more

   Other News

• The R&D Puzzle in U.S. Manufacturing Productivity Growth - more
• As Cord Cutting Grows More Americans Will Listen to The Radio Than Watch Traditional TV in 2025 - more
• What happens now that Trudeau is resigning as Canada's prime minister? - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Friday's trading session at $6.87/lb ($15,140/tonne). Indicators at 5:45 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and ended last week reading just shy of the 164,300 level. Shanghahi nickel fell to 122,260 y/t overnight. After hitting a four year low last week, nickel is doing little this morning. The Euro recently jumped against the US Dollar, so we may see a mini rally take place, but so far, traders appear to be running gun shy. It's the start to the first full work week of 2025. Stay safe out there and have a great week!
  
• Average price of LME traded cash nickel so far this month - $6.75/lb
  

    Friday's market review - Copper drifts higher on Chinese economic support pledge - Copper prices held in positive territory on Friday after China pledged more support for its ailing economy, though gains were ... - more

    In December, overall stainless steel production still showed a significant increase, with the main growth reflected in the 400-series stainless steel [SMM data]. - According to the SMM survey, China's total ... - more

   Stainless steel cold-rolled coil price to be boosted by growing manufacturing demand - As of the week ending December 27, 2024, stainless steel cold-rolled coil prices fell by 0.8% in Germany and by 1% in China ... - more

    Yieh Hsing maintains stainless steel wire rod price for Jan 2025 - On December 31, 2024, Yieh Hsing Enterprise Co., Ltd., one of Taiwan's major wire rod manufacturers, announced its new wire rod price for ... - more

    Indonesia reviews nickel ore mining quota to steady prices - Indonesia is reviewing its annual nickel ore mining quota, seeking to prevent further price falls, Energy and Mineral Resources Minister Bahlil Lahadalia ... - more

• RI Will Have 55 Nickel Smelters, Enough Reserves? - more

    Nickel prices continue to struggle, report notes - Nickel prices hit their lowest levels since 2020 this week, Bloomberg News reports. Prices for nickel, used in stainless steel and batteries, dropped towards $15,000 ... - more

• Nickel: A Comprehensive Analysis of Market Dynamics and Investment Opportunities - more
  

   Stainless steel’s vital role in green transitions - Sahit Muja, CEO of Albanian Minerals based in New York, analyzes the current state of stainless steel in the European Union, highlighting both challenges and ... - more

   Tesla Cybertrucks Are Rusting Despite Being Stainless Steel: Here’s Why - The Tesla Cybertruck isn’t the first vehicle to feature all stainless steel body panels. That distinction belongs to the DeLorean, ... - more

   Other News

• Exclusive: Rival CEO spread doubt about Nippon Steel deal prospects, documents allege - more
• Top five economic takeaways from December's manufacturing PMI data as factory conditions worsen - more
• University of Alabama Researchers Uncover Breakthrough Method for Recycling Plastic - more
• Tesla narrowly beats BYD to global EV sales title despite first-ever annual decline - more
• BYD Pulls Ahead of Tesla to Become Largest EV Maker - more
• The Minimum Wage Claims You Keep Hearing Are Totally Fake. We Can Prove It. - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Thursday's trading session at $6.85/lb ($15,110/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply for a second consecutive day and started today reading just over the 164,000 tonne level. Shanghai nickel slipped to 122,640 y.t overnight. Nickel is trading below the $15,000 tonne level this morning, with a struggle being waged to hold that level. Don't be surprised if we see w2hat traders call a 'dead cat bounce' in the near future. Your average commodity costs for December 2024, as compared to November, are as follows. Nickel - $7.02/lb compared to $7.14/lb, Chromium - $5.60/lb unchanged from November, and Molybdenum - $21.75/lb compared to $22.25/lb. Stay safe out there and have a great weekend!
• Average price of LME traded cash nickel so far this month - $6.81/lb
  

    Thursday's market review - Copper holds near five-month low as weak demand outlook dominates - Copper prices hovered around five-month lows as expectations of a deteriorating demand outlook were... - more

   How did India's stainless steel sector perform in 2024? BigMint explores -  India's imports of finished stainless steel (SS) products are projected to have reached 1.19 million tonnes (mnt) in 2024, as per provisional ... - more

   Low nickel prices, layoffs and big gold, the year in Sudbury mining - Low nickel prices hampered Vale Base Metals but Iamgold opened the Côté Gold Mine near Gogama - more

   Structural fabrication focus: Bolting or welding? - Christian Crosby pointed to his well-worn copy of the Code of Standard Practice for Steel Buildings and Bridges, from the American Institute of Steel Construction... - more

   Other News

• 2025 Import-Export Tariffs in China: Latest Adjustments - more
• Tesla suffers first ever annual sales drop as China attacks EV market - more
• Musk warns of lawsuits over media coverage of Tesla Cybertruck explosion - more

  Economic Stats and Prices (posted in Friday edition)

  Daily Nickel/Stainless Steel Briefing 

• Nickel closed Tuesday's trading session at $6.97/lb ($15,360/tonne). Indicators at 5:45 am CST today show nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply on the final day of 2024 and started the new year reading just over the 162,450 tonne level. Shanghai nickel slipped to 123,820 y/t overnight. For comparisons, on this day in 2024, LME nickel started the new year at $16,615/tonne, with 64,158 tonnes in stock, and Shanghai ended at 130,000 y/t. And yes that shows LME stockpiles grew by 'almost' 100,000 tonnes last year. Today, nickel is trading lower on a weaker Euro, and the bulls wait for their moment to start the crawl back to the $16,000 tonne level. It's a new day, and a new year. Your first test for 2025 is to keep those New Years Resolutions for three weeks. Next Friday is Quitter's Day, and by then most New Years Resolutions are merely wishful thinking. If you made any, set your first goal of making it to the middle of the month. Over time, the resolution becomes less of a chore and more of a daily habit. Stay safe out there today, have a great Thursday, and may 2025 bring you and yours good health, peace and joy. 
  
• Average price of LME traded cash nickel so far this month - $7.02/lb (avg December)
  

    Tuesday's market review - Copper eases but heads for second straight yearly rise - Copper prices eased on Tuesday but were on track for a second consecutive yearly gain, while the red metal’s outlook for next ... - more

   Global Stainless Steel CR Coil Market Sees Mixed Trends in Late December - With the week ending on 27th December, Stainless-Steel CR Coil market displayed mixed trends with regional dynamics shaping ... - more

   Outokumpu raises alloy surcharges of stainless steel flat products for Jan 2025 - Outokumpu, a leading stainless steel manufacturer in Europe based in Finland, announced its new alloy surcharges of stainless... - more

   Shanxi Taigang Stainless Steel launches hot-rolling production line optimization project  - On December 30, Shanxi Taigang Stainless Steel Co., Ltd. (STSS) started its stainless steel hot-rolling production line ... - more

• Stainless Steel Production Schedule Is Expected to Decline, Stainless Steel Scrap Prices Fluctuate Downward [SMM Analysis] - more
  

   China’s steel sector PMI decreases to 47.5 percent in December - In December this year, the purchasing managers index (PMI) for the Chinese steel sector was at 47.5 percent, 3.1 percentage points lower than ... - more

   Other News

• China accounted for 41% of the world’s automobile sales in November 2024 - more
• Tesla Stock Surge Runs Up Against a Potential Annual Sales Drop - more

  Economic Stats and Prices (posted in Friday edition)