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156 MT · Daily LME Report

LME Nickel Stocks down 156 MT to 274,548 MT

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Indications

The information listed below is provided free of charge. Although this information is believed to be accurate and reliable, it is aggregated from several sources and thus cannot be guaranteed.

Nickel 3 month $7.579

Cash Last $7.490

Euro 1.141

Yen 162.35

gold $4029.99

silver $57.91

Copper LME $6.152

Copper Comex $6.311

Cobalt $ 28.50-30.25

Zinc $ 1.612

Tin $ 23.96

Crude $9.97 up .05%

Dow Jones up .02%

FTSE 100 down 24%

Dax down .78%

Hang Seng up 1.40%

Nikkei up 1.49%

U.S. Dollar index 100.97 up .05%

Quote of the Day

We have a system that increasingly taxes work and subsidizes nonwork.
— Milton Friedman

Word of the Day

Loquacious means “liking to talk and talking smoothly and easily.” Someone described as loquacious might also be called wordy (prone to using more words than necessary) or garrulous (tending to talk a lot).
 
// We were entertained all afternoon by our host’s loquacious parrot and its nonstop script of favored phrases.

 

Trivia

What is considered the largest dog breed?

Answer: at bottom of page under good read.

News of Interest

US stock markets close up (S&P 500 +0.4%, Dow +0.0%, Nasdaq +1.0%) after cooler-than-expected inflation report; consumer price index fell 0.4% in June from May, the largest monthly drop since April 2020.  

Spain eliminates France 2-0 to reach the 2026 World Cup final (More) | Argentinaand Lionel Messi take on Jude Bellingham’s England at 3 pm ET for a chance to face the reigning European champions Sunday (More, w/schedule) 

On a sad note: Capt. Chesley “Sully” Sullenberger III—who emergency-landed a 155-person plane in the Hudson River—revealed he has early-stage Alzheimer's disease.

 

Romaine is always causing problems. An explosive, diarrhea-causing outbreak of the cyclospora parasite has been running flowing spreading making its way through the Midwest, most prominently in Michigan.

Health officials haven’t identified a source of the outbreak but are investigating Taco Bell, according to the Washington Post. A few Michigan locations aren’t serving lettuce or cilantro out of caution.

Here’s what else we know about the outbreak:

  • The parasite usually spreads through particles of infected human feces that get into water and end up on fresh produce through either irrigation or cleaning. Produce that has high water content—like leafy greens, berries, and snow peas—is particularly susceptible.
  • The parasite isn’t deadly, but it can last for several months if left untreated, causing severe dehydration and, of course, some unforgettable bathroom visits.
  • Michigan’s health department reported at least 3,309 cases as of yesterday, while the CDC said 34 states have reported cases.

Unlike the stool this outbreak will cause, tracking down the source is especially hard. Symptoms can be delayed for weeks (and tracking relies on people remembering exactly where and when they ate certain items). Plus, the CDC scaled back one of the programs it used to proactively track cyclospora last year.

In a statement, Taco Bell said that the health and safety of it guests are its “top priority” and noted that officials haven’t confirmed a link to the restaurant.

What you can do: Wash and scrub your produce, avoid bagged lettuce, cook your veggies, and wash your hands.—

Nickel & Related Metal News

-NEW YORK, July 13 (Reuters) - Shares of U.S. metals and mining companies have been on a volatile ride this year, including a nearly 25% fall for the sector in recent weeks, but ​technical analysis indicates that things could be looking up. 

The sector, measured by the State Street SPDR S&P Metals & Mining ETF, has been in a long-term uptrend that shifted into high gear in 2025. Over the past year it has been pulled between opposing forces — tariffs, the AI-driven buildout, ​bets on a commodities supercycle, and worries that the war in Iran could hurt global growth ​and stoke inflation.
 
 
 
The ETF tumbled to its 2025 low of 99.95 on Wednesday, ⁠according to data supplied by LSEG, but then began rebounding. The 99.95 low marked what chartists ​call structural support — a price floor where buyers have repeatedly overwhelmed sellers — and the bounce suggests that ​support held firm.
Adding to the bullish case, the Relative Strength Index, or RSI, turned higher from oversold territory just as the rebound got underway. RSI is a widely used gauge of market momentum. When RSI turns higher from low, ​oversold levels, chart watchers often see it as an early clue that sellers are losing steam ​and buyers are stepping back in.
 
The recent low in the ETF also sits at the bottom of a price ‌channel that ⁠appears to be forming a bull flag, a pattern in which a market pauses within an uptrend before resuming its climb. The top of the flag is marked by a trendline connecting January's high of 134.46 to June's peak of 132.87, so a breakout remains distant. Still, the rebound highlights a ​staircase of Fibonacci retracement ​levels and other resistance ⁠spots at 107.71, the 109.50-110 area, 112.51 and 116.40. Fibonacci retracement levels are points where markets often return after a big move.
A sustained break below ​structural support near the 99.95 low and the channel's floor, near 99.40, ​would undercut this ⁠bullish case and raise the risk of further declines.
What the chart shows:
  • Bounce off 2025 low of 99.95 confirms structural support
  • Pattern resembles a bull flag, with the top near the 134.46 and 132.87 highs
  • Key levels to ⁠watch: 107.71, ​the 109.50-110 area, 112.51 and 116.40; support at 99.95 low ​and 99.40

Good Read

Answer to today's trivia question: Mastiff