This
page is archived news covering the period of April 2013
If you are looking for current daily market news, please visit
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Tuesday, April 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.03/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.10/lb
lower, with all other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose on Monday and for the 11th session this month,
recorded a new all time record high, which in today's case, is 177,036 tonnes.
This reflects a net gain of 11,616 tonnes from the last day of March. Eurostat
reports unemployment in the Eurozone is now a record 12.1%, Spain reports
its GDP fell by 1/2 of 1% in the last quarter, and Greece reports retail
sales fell 14.45 in February compared to last year. With this, the Euro is
lower, which has stimulated commodity traders to take short term profits
before the end of the month, and for most of the world, a May Day holiday
tomorrow. The LME will trade tomorrow as the UK and US do not celebrate May
Day. Three month nickel ended March at $7.56/lb and looks to close April
below the $7/lb level. The average cost of cash nickel fell by nearly a full
dollar per pound. Last years "bottom" was seen in August, late in the summer
and typically, a slower period for stainless steel production, where the
price of traded nickel closed on August 12, 2012 at $6.92/lb. This month,
we saw nickel close on the 23rd at $6.86/lb. Another interesting fact about
August 2012, was cancelled warrants rose over the 10% level for the first
time, and have remained above that level for most of the trading period since.
For this month, cancelled warrants have ended mostly in the 14% range. China
markets are closed for the first three days of this week so activity from
Asia is muted.
Average price of cash nickel so far this month - $7.10/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(SSY) For the third week in a row the Chinese wire rod price remained relatively
stable at $569/t, according to World Steel Dynamics. This is down $107/t
compared with the same week last year.
Toledo Mining reports first quarter figures from Berong nickel mine -
more
Price of
Ni-containing SUS Scrap Is Lowered By JPY5,000 - 7,000 This Week = Due to
slumping LME Ni price= In light of slumping LME nickel price, respective
stainless steel mills in Japan lowered a purchase price of nickel-containing
stainless steel scrap (SABOT) by JPY5,000 - JPY7,000 per ton from the prior
week (3rd week of April). -
more
Price Rise
Negotiations on Ferritic Stainless Sheets to Be Inevitable to Bog Down -
The Japanese mills of ferritic stainless steel sheets are on track to ask
for a price rise of ferritic stainless sheets in order to absorb price hikes
of chrome and predicted to make full-fledged negotiations soon. -
more
Steel Group: LME Warehouse Rules Create Shortfalls, Distort Prices - The
London Metal Exchange's warehouse system is creating an artificial shortage
of zinc, forcing consumers of the metal to pay higher prices, a trade group
representing European steelmakers said in a report. -
more
Poseidon
to reopen famous Goldfields mine - Poseidon Nickel has announced it will
re-open its historic Goldfields nickel mine in Western Australia. -
more
Analysis:
Commodity shakeout emboldens risk-seeking investors - This month's plunge
in commodities may reinforce a benign growth outlook that will encourage
investors to keep taking on risks rather than signalling an imminent collapse
in the global economy. -
more
Courtesy AISI
- In the week ending April 27, 2013, domestic raw steel production was 1,866,000
net tons while the capability utilization rate was 77.9 percent. Production
was 2,014,000 tons in the week ending April 27, 2012, while the capability
utilization then was 80.9 percent. The current week production represents
a 7.3 percent decrease from the same period in the previous year. Production
for the week ending April 27, 2013 is down 0.4 percent from the previous
week ending April 20, 2013 when production was 1,858,000 tons and the rate
of capability utilization was 77.6 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, April 29
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.89/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
higher, with most London
traded base metals trading higher this morning. Stockpiles of nickel stored
in LME approved warehouses rose on Friday and set another all time record
high of 175,836 tonnes. Nickel and other commodities are getting a boost
this morning from a weaker Dollar against the Euro. European equity markets
are quiet this morning, while US Dow futures imply a positive opening. With
no major news guiding markets, sympathy remains cautiously optimistic.
Average price of cash nickel so far this month - $7.11/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(CSSC) CSSC released the crude stainless steel out for the first quarter
in 2013. China stainless steel output is 4.4 million metric tons. thereof,
the 300 series grade is 2.13 million metric tons, the 200 series grade is
1.29 million metric tons, the 400 series grade is 0.98 million metric tons.
In the first quarter, China imported 167 thousand metric tons stainless steel
and exported 715 thousand metric tons. The apparent consumption is 3.3 million
metric tons in the first quarter.
(Reuters) There has been persistent market chatter for some time that the
State Reserves Bureau has been quietly buying imported nickel. If so, this
would be for genuinely strategic purposes, meaning there will be no public
announcements such as those that accompany the Bureau's "strategic" purchases
of surplus zinc and aluminium from government-favoured smelters. Without
confirmation, which seems unlikely, the jury remains out.
(MF) China’s exports of stainless steel flats jump by 33% m-o-m in March
China's H1 power consumption growth to hit 5.5-6.5 pct -
more
Sulawesi
Mining to Invest $1.06b in Smelter - Sulawesi Mining Investment, an
Indonesian-Chinese joint venture company, plans to invest $1.06 billion in
a Central Sulawesi nickel mining operation, including a plan to build a smelter,
an industry executive said on Thursday. -
more
Indonesia expects $1-bln nickel pig iron plant to start in 2014 -
more
Vale
may be first to wrap up renegotiations - Publicly listed nickel producer
PT Vale Indonesia (INCO) will likely be the first large mining contractor
to wrap up mandatory government contract renegotiations, an official has
said. -
more
Metal producers
falter in cooling market - Fifty-five of the 74 A-share listed nonferrous
metal producers which released financial reports for 2012, said they saw
declining net profits due to coo ling market demand amid slowed economic
growth. -
more
Steel prices,
demand to stay low in May - China's steel market will stay weak in May,
traditionally a time of peak consumption, with downstream demand still uncertain
and low prices expected to persist, the country's steel industry body warned
on Thursday. -
more
Zim unlikely
to seize mine stakes: Mpinga - Fears that Zimbabwe’s government will
strip foreign mines of half their assets without compensation are unfounded,
according to Kalaa Mpinga, chief executive of Mwana which has gold and nickel
operations there. -
more
China's 10
nonferrous metal output up 10.6% in Q1 - The combined output of the ten
nonferrous metals rose 10.6% YoY to 9.49 million tonnes in the first quarter
of this year, according to the latest statistics released by the National
Development and Reform Commission. -
more
Tycoons
tap mining cash for Olympic projects - Two Russian tycoons will tap the
prodigious cash flows of the country’s largest mining company to help
complete their construction projects for next year’s Winter Olympics
in Sochi, whose budget has spiraled to a record $50 billion. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, April 26
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.99/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel fell
for a second session, and now total just over the 175,550 tonne level.
After a few days of optimism, markets around the world, both equity and
commodity, have turned southward today. Primary attention today is
focused on the release of US GDP data, expected to be around 3.2% for the
first quarter of 2013. We are traveling today so tis we end the week with
an abridged version of our daily update. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $7.12/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(NB) Russia's Norilsk Nickel the world's largest nickel and palladium producer,
may suspend operations at its Tati Nickel mine in Botswana after a sharp
drop in metal prices, a company document showed on Wednesday.
ENRC: Serious Fraud Office launches criminal investigation -
more
POSCO's
Prices of CR Austenitic Stainless Sheets to Be below $2,600 CFR - The market
prices of cold-rolled (CR) austenitic stainless steel sheets in Asia are
dropping responding to price down of the LME nickel price, and POSCO of Korea
seems to have been proceeding with negotiations at around $2,550 CFR dipping
below $2,600 CFR for May/June shipment. -
more
Ferro-chrome makers curb output as demand wanes - With demand for ferro chrome
remaining sluggish over the past few months, affecting local rates, domestic
manufacturers have resorted to regulating production of the stainless-steel
commodity and holding on to their stocks. -
more
Jindal Stainless
plans to double Odisha plant capacity to 2 MT - Jindal Stainless, the largest
domestic stainless steel producer, is planning to double its Odisha plant
capacity to 2 million tonnes (MT), a top company official said today. -
more
China's avg
daily crude steel output dips in mid-April -CISA - China produced 2.116 million
tonnes of crude steel per day over April 11-20, down by a slight 0.4 percent
from the preceding ten days, data from the China Iron & Steel Association
(CISA) showed on Friday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, April 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.93/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed and mostly quietly. Stockpiles of
nickel stored in LME approved warehouses took a break from four consecutive
gaining days totaling 7,434 tonnes gain, and fell slightly; now totaling
just over the 175,750 tonne level. Nickel opened higher this morning, but
fell sharply early, and is now getting a bump from a stronger Euro. The economic
data from Europe was fairly dismal this morning, except for a surprisingly
strong quarter in Great Britain, helping that country just miss out on a
triple dip recession designation. Spain's unemployment jumped to 27%
and is now tied with Greece for the EU's worse. Added a link under Reports
below that gives a technical forecast for nickel trading on the London Metal
Exchange on a daily basis. European equity markets are higher on the news
from the UK, and US Dow futures are higher on corporate earnings.
Average price of cash nickel so far this month - $7.14/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(Dow Jones) Finnish stainless steel maker Outokumpu Oyj said Thursday it
would cut 2,500 jobs in the coming years as it seeks to cut capacity in Europe
and streamline overlapping activities, after posting a larger-than-expected
first quarter net loss.
(Reuters) South Korea has bought a total of 500 tonnes of Norwegian origin
nickel for arrival by Aug. 30 via tenders on Wednesday, the state-run Public
Procurement Service said on its website
(SSY) The world export price of hot rolled band continued to fall from the
recent peak of $608/t in late February, slipping by $13/t in the last two
weeks to $573/t, according to the latest SteelBenchmarker published by World
Steel Dynamics.
Outokumpu produces poor 1st quarter results -
more
Universal Stainless Reports Preliminary First Quarter 2013 Results -
more
Nickel
market to record 90,000 tonne surplus in 2013: INSG - The global nickel market
will record a surplus of 90,000 tonnes in 2013, down slightly from a 110,000
tonne surplus in 2012, the International Nickel Study Group (INSG) said today.
-
more
[Korea's
Steel Statistics] Result of Demand & Supply for Ferroalloy in Jan., 2013
- The result of demand and supply for ferroalloy in Korea in January, 2013
compiled by Korea Iron and Steel Association (KOSA) is shown in the table
as under. -
more
Small
miner gets Court go-ahead - The Zambales Regional Trial Court has junked
the petition for injunction of a large mining company to stop a small-scale
miner to gather and export the firm's alleged chromite stockpile in Masinloc
in Zambales. -
more
Drinks
on the rocks? Stainless steel used to cool drinks instead of ice to stop
alcohol being watered down - These new ice cubes will not water down or change
the taste of a drink - because they are made from stainless steel. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, April 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.86/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel continue
to climb, setting another all time record high of 175,860 tonnes. Equity
markets, as well as commodity trades, are mostly higher this morning. There
is speculation that commodity trades are finding encouragement from speculation
more economic stimulus may be in the works. Equity traders are encouraged
by strong earnings reports. Nickel opened higher this morning, but appears
to be having difficulty holding onto earlier gains. The INSG is forecasting
the nickel surplus this year will be less than last, although LME warehouse
numbers do not reflect that optimism.
Average price of cash nickel so far this month - $7.15/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(Dow Jones) The global primary nickel market surplus is forecast to narrow
this year compared to last year as demand growth outstrips supply growth,
data from the International Nickel Study Group showed Wednesday. INSG expects
the global primary nickel market to be in a surplus of about 90,000 tons
this year compared to a surplus of about 110,000 tons last year and a surplus
of about 30,000 tons in 2011.
Allegheny Technologies Announces First Quarter 2013 Results -
more
China manufacturing likely to slow in April -
more
U.S. Fastener Imports and Exports both Fall in February -
more
Ramu NiCo
doing well, despite price drop - Ramu Nickel project in Madang is going well
despite the fall in nickel price caused by weak stainless steel production
outside China, according to Highlands Pacific Ltd -
more
Norilsk
Nickel Suspends Australian Division Over Slump - Russian metals giant Norilsk
Nickel is suspending the operations of its Lake Johnston enterprise in Australia
to minimize production costs, the company said on Wednesday, citing unfavorable
market trends. -
more
Norilsk workers in pay threat - Workers at Norilsk Nickel's Lake Johnston
mine are threatening legal action against the company over unpaid bonuses
as the company prepares to shut down its remaining operations. -
more
China leads
worldwide mining and metals buys - China was the world's most acquisitive
nation in mining and metals in 2012 and is expected to continue to lead merger
and acquisition (M&A) activities in the sector in 2013, underscoring
its counter-cyclical investment strategy, a report by a leading global consulting
firm showed Tuesday. -
more
Bindura
Nickel resumes operations - The resuscitation of the Bindura Nickel Corporation
(BNC) is a welcome development on the mining index of the Zimbabwe Stock
Exchange given that most of the listed mining companies have been
under-performing, analysts have noted. -
more
Beat
the peak, Eskom urges consumers - Eskom has repeated its urgent call on
electricity users to help it "beat the peak" this winter by switching off
non-essential appliances between 17:00 and 21:00 each day. -
more
Korea's
Import & Export Trend of Main Ferroalloy in March, 2013 - According to
Korea's import and export statistics, the import and export of main ferroalloy
in March, 2013 were as per Table 1 and Table 2 respectively. -
more
China's
debt-laden traders spell more risk for steel sector - Chinese banks are slashing
loans to steel traders further in the face of rising bad debts, a move set
to put more pressure on a steel sector suffering from tepid demand. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.94/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose for a third consecutive day, and to a new
record high of 174,546 tonnes. This is the eighth time this month where a
new all time record high has been set. The Euro is trading lower against
the US Dollar, and this with news out of China that the preliminary version
of HSBC’s manufacturing Purchasing Managers’ Index fell to a two-month
low of 50.5 from March’s reading of 51.6. European stocks are mostly
higher this morning after data showed the pace of region’s downturn
didn’t accelerate in April. Yes, that's bad news, but not worse news,
is now good news. The main concern in the preliminary purchasing managers’
index readings was that Germany fell into contraction for the first time
this year. US Dow futures are higher as well, while Asian markets ended mostly
lower overnight. Nickel traders continue to attempt to find footing, while
fighting negative economic sentiment and growing stockpiles.
Average price of cash nickel so far this month - $7.17/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(TET) HSBC maintained its copper price forecast, citing little change in
market fundamentals, but trimmed its outlook for nickel, zinc and aluminum
due to rising inventories..... The bank cut its 2013 nickel price forecast
to $17,110 per tonne, and its 2014 view to $18,080.
(Reuters - Monday) Nickel prices have come under pressure from limp stainless
steel demand, which has pushed LME inventories to record highs , and toppled
prices to their lowest in almost 4-year low at $15,092 a tonne earlier. The
metal later recovered to close at $15,300 a tonne from $15,165.
(SSY) Global steel production in March rose by 1.0% annually and 8.8% from
the previous month to a new monthly high of 134.9 Mt, data from the World
Steel Association indicate. This took world steel output in the 1q13 to 388.7
Mt, up 2.3% from the corresponding period in 2012.
Global Steel Consumption Forecast Up 3% in 2013 -
more
Indonesia could ease smelter rules for Freeport, Newmont -minister -
more
ENSO neutral state expected to persist well into winter -
more
EU may force
Aperam to sell some steel assets if buys Italy mill - The European Commission
may oblige steelmaker Aperam, bidding to buy Outokumpu's stainless steel
plant in Terni, to sell other steel assets if it succeeds, a commission source
said. -
more
Guatemalan
Lawsuit Against Canadian Mining Giant May Set Precedent - A group of indigenous
Mayan Q'eqchi' have filed three civil lawsuits in Canada against HudBay Minerals
Inc. of Toronto for alleged human rights atrocities committed by its subsidiaries
- HMI Nickel, Skye Resources and Compañía Guatemalteca de
Níquel - at the company's nickel mine in eastern Guatemala. -
more
Mirabela
hit by quarterly fall - Mirabela Nickel has sacked about 60 workers under
changes to its mining operations as its quarterly results fell short of
expectations. -
more
China Molybdenum
expects specialty steel sector to support 2013 moly price - China Molybdenum,
the country's biggest moly concentrate producer, said Monday that it expects
the domestic specialty steel sector to support molybdenum prices this year,
despite expectations of little improvement in the global economy. -
more
BHP Billiton
March 2013 Quarter Production Summary = Nickel West smelter/refinery returned
to full capacity after maintenance = BHP Billiton's production summary for
March 2013 quarter was released on April 17. -
more
Courtesy AISI
- In the week ending April 20, 2013, domestic raw steel production was 1,858,000
net tons while the capability utilization rate was 77.6 percent. Production
was 2,014,000 tons in the week ending April 20, 2012, while the capability
utilization then was 80.9 percent. The current week production represents
a 7.7 percent decrease from the same period in the previous year. Production
for the week ending April 20, 2013 is down 1.2 percent from the previous
week ending April 13, 2013 when production was 1,880,000 tons and the rate
of capability utilization was 78.5 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, April 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.88/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals quiet and mostly lower. Stockpiles of nickel stored
in LME approved warehouses rose sharply for a second consecutive day, to
a new all time record high of 173,976 tonnes. Nickel prices collapsed again
after our Friday morning report and support now stands at $6.67/lb. Since
the first week of February, prices have now fallen nearly $3400/tonne - or
over $1.50/lb. RSI stands at 27, only slightly in oversold territory. Trading
is quiet this morning, opening lower, then bouncing back to flat territory
early, with little movement since. Asian markets ended higher overnight,
European markets are trading higher this morning, and US Dow futures are
higher at the moment. Markets are trying to shake off last weeks dismal numbers.
The last time nickel closed below $7/lb was in June of 2009, back when world
markets were digging themselves out of Great Recession lows. How low had
nickel gone? It ended 2008 and began 2009 trading in the high $4/lb range.
.
Average price of cash nickel so far this month - $7.19/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(MNP) BHP Billiton has announced a high-grade maiden resource for its Venus
nickel discovery near Leinster in Western Australia.
EU clears Thailand stainless steel-fastener exporters in dumping probe -
more
Production
of SS Products in February, 2013 Is 222,942 Tons =Down by 2% from the prior
month, both Cr type and Cr-Mo type of Cr-containing SS are decreased= The
Ministry of Economy, Trade and Industry announced on April 15 that the production
volume of stainless steel products (hot-rolled steel) in February, 2013 was
222,942 tons, which was down by 1.7% from the prior month. -
more
Blast
at Koniambo nickel plant in New Caledonia - A minor explosion has occurred
at New Caledonia’s new Koniambo nickel plant as the first quantity of
nickel was being produced. -
more
Palmer
bets $1bn on nickel - Mining magnate Clive Palmer said on Friday that Queensland
Nickel would invest some A$1-billion in an infrastructure upgrade for its
Yabulu refinery. -
more
Vale
promises to return idle mining areas - Nickel miner PT Vale Indonesia says
it will return up to 13,000 hectares of idle concessions in Morowali, Central
Sulawesi, if the administration finds investors to jointly develop the areas.
-
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, April 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.05/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.06/lb
lower, but attempting
a recovery at the moment, with other London traded base metals trading mixed
and mostly higher. Stockpiles of nickel stored in LME approved warehouses
rose to a new all time record high yesterday and now total 172,296 tonnes.
Asian markets ended higher overnight, European markets are trading higher,
and US futures point to a higher opening. Nickel closed above support yesterday,
which sends a slightly positive signal that a bottom 'might' be trying
to establish itself. Commodity markets have been reacting to overall sentiment,
so depending on how traders feel next week, will determine where nickel prices
go. For nickel traders, it was a brutal week and one they do not want
to se repeated anytime soon.
Average price of cash nickel so far this month - $7.21/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(CRU) Rising spot prices of high carbon ferrochrome have helped the European
second quarter benchmark prices settle 14.5¢/lb higher than Q1, at $1.27/lb.
In contrast, domestic Chinese spot prices have maintained a downward trajectory
on oversupply.
(Dow Jones) Bindura Nickel Corporation last week resumed nickel exports about
five years after mothballing operations due to crippling economic and financial
constraints.
(PR) First Nickel Inc. announced that the Lockerby mine achieved its full,
targeted annualized production rate of 10 million pounds of payable nickel
in the first quarter ended March 31, 2013, producing approximately 2.5 million
pounds of payable nickel.
Weekly Round-up (in testing)
Shanghai Spot Nickel down 5% from last Thursday
India May Nickel - down 4.3% from last Thursday
US 18-8 Truckload of clean scrap - average in Central America drops from
$.69/lb to $.67/lb and on west coast, drops from $70/lb to $.68/lb. Shanghai
average falls from $.75/lb to $.72/lb.
2% nickel ore in China drops 4.5%
China metals site SS index - 75.90 from 78.03 last Thursday
Nickel Surplus Seen Bigger by Macquarie Than Forecast Last Month - Nickel
supplies will exceed demand by 52 percent more than forecast last month as
consumption outside of China is weak and new projects are adding production,
according to Macquarie Group Ltd. -
more
Prices of
CR Austenitic Stainless Sheets in Asia to Edge below $2,600 CFR - The export
market of cold-rolled (CR) austenitic stainless steel sheets is still depressed
in the Asian region, and its prices are receding to $2,600 CFR. -
more
China daily
steel output up 2.5 pct in early April - CISA - China produced 2.124 million
tonnes of crude steel each day over the first 10 days of April, an increase
of 2.5 percent from the last 10 days in March, data from industry body China
Iron and Steel Association showed on Thursday. -
more
Nickel
Miner Nihao says 2012 net income more than doubled from 2011 - Commercial
mining and share sale in another miner helped boost the 2012 income of listed
Nihao Mineral Resources International Inc., the company said Friday. -
more
Norilsk
may hedge against metal price volatility - Norilsk Nickel, the world's largest
nickel and palladium miner, may launch a hedging programme to protect its
revenues at times of weakness in the metal markets, a company source told
Reuters on Thursday.
- more
ThyssenKrupp
a good example for China steel mills - China's steel makers that are suffering
huge losses because of overcapacity may learn how to survive from the successful
example of German company ThyssenKrupp AG. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, April 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.99/lb . Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
fell for a 4th day from last weeks all time record high, and now total
over 168,400 tonne level. Shanghai spot nickel ended down 2.8% overnight,
with India nickel down slightly. Nickel opened lower this morning but has
been climbing ever since. The Euro is presently trading higher against the
US Dollar, but just took a hit and appears to be struggling to hold onto
gains. European equity markets are trading higher this morning, the US Dow
futures are higher, and it appears we are getting a bounce from yesterday's
drop, as markets continue their see-saw pattern. Nickel still looks weak,
with Bloomberg carrying an interesting article linked below. Nickel fell
thru a support level yesterday of $7.01/lb, and can not afford to close below
this level for a second day. Outside financial factors continue to determine
nickel's trading sentiment, with fundamentals and even technical signals,
taking a back seat.
Nickel prices continue to be buffeted by external factors that have little
to do with the production or consumption of the mineral - or its end users.
Monday's race for the exit's was followed by a big bounce on Tuesday, which
was followed by another steep drop on Wednesday. And while we are describing
the US Dow movement over the past few days, we could use the same description
to define nickel training on the LME.
Average price of cash nickel so far this month - $7.23/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(Bloomberg) Nickel, which traded at $15,587 yesterday, will go as low as
$14,500 this year, the median of 12 analyst estimates compiled by Bloomberg
shows.
Stainless steel recycler ELG Haniel books sharp drop in 2012 revenues and
profits -
more
China Bird-Flu Outbreak Seen Adding Risks as Growth Slows -
more
Australian shares suffer biggest 1-day loss in a month; weak commodities
hit miners -
more
Europe faces threat of full-fledged depression -
more
Nickel
Rout Seen Easing With Output Costs Breached: Commodities - Nickel, the
worst-performing industrial metal in the past year, is bottoming as prices
fall below the costs of producing cheaper substitutes, curbing supply as
consumption rebounds. -
more
Japan's Offer
Prices of CR Ferritic Stainless Sheets for Asia = They were raised additionally
by $70 in May shipment - The Japanese mills of cold-rolled (CR) ferritic
stainless steel sheets recently carried out additional increase of offer
prices by $70 for May shipment in negotiations on CR ferritic stainless sheets
for Asia. -
more
Service Center
Shipments Continue to Lag - Service center shipments of metal products in
March continued to lag the 2012 pace in both the United States and Canada,
according to the latest Metals Activity Report from the Metals Service Center
Institute, Rolling Meadows, Ill. -
more
Vale iron
ore output falls; copper, cobalt rise - Iron ore output at Brazilian global
miner Vale SA, the world's largest producer of the main steel ingredient,
fell 3.5 percent in the first quarter on declining ore quality and license
delays at old mines, the company said on Wednesday. -
more
Mwana
Africa ships first concentrate from Trojan - Mwana Africa confirmed the first
shipment of nickel concentrate from Bindura Nickel Corporation's Trojan Nickel
mine in Zimbabwe was dispatched on April 15. -
more
Conservation
Groups Lists Rivers in Southern Oregon, Idaho As Most Endangered - American
Rivers has named three Northwest streams among the most endangered in the
United States this year. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, April 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$7.12/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell slightly on Tuesday and now total just under
the 168,550 tonne level. Nickel has closed two consecutive days below support
so major support now lowers to $6.87/lb. This is a technical signal, and
only one factor traders analyze when trading nickel or commodities in general.
And when there is little news and outside factors to guide the overall market,
it becomes a more important factor. Today, the news that the IMF is lowering
its 2013 forecasts is putting the kaboosh on yesterday's bounce. The Euro
had a big day yesterday, but is down again today. US Dow futures are lower,
European markets are lower, and Asian markets closed higher, playing catch
up to the bounce this side of the planet saw yesterday. Shanghai spot nickel
closed 1.1% higher today after losing 1.58% the day before. India nickel
is at 837.80, down 1.76% on the day. Nickel continues to look weak with its
ability to hold steady yesterday tempered by the fact the Euro was over 1%
higher.
Average price of cash nickel so far this month - $7.26/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(SSY) The International Monetary Fund has revised down its 2013 global GDP
growth forecast from the previous projection of 3.5% made in January to 3.3%.
However, the IMF has left its 2014 forecast unchanged at 4.0 %.
(MSCI) Metal shipments in March 2013 decreased at rates that were greater
than the declines registered in January and February. -
more.
Growth fears hit Europe stocks and oil, gold recovers -
more
Nickel prices
a huge challenge: Vale VP - Kelly Strong, Vale’s vice-president of Ontario
and UK operations, addressed a packed luncheon at the Howard Johnson in Sudbury
on Tuesday, where he outlined the company’s future plans for its local
operations. Strong says $7 nickel today equals $2.50 a decade ago. -
more
Five of Most
Endangered Rivers Threatened by Mines: Group - Five of the U.S.’s most
endangered waterways are threatened by pollution from mining, burning of
coal and metals exploration, according to the environmental group American
Rivers. -
more
Rs 25-lakh
robbery at nickel unit, chowkidaar killed - A robber of more than Rs 25 lakh
happened at United Electroplate, a nickel factory in Focal Point, on Monday
night. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.12/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, and off earlier
lows, with other London traded base metals trading mixed and mostly subdued.
Stockpiles of nickel stored in LME approved warehouses fell for a second
consecutive day on Monday and now total just shy of the 168,600 tonne level.
After falling over $.65/lb in the last few sessions, nickel is trying to
find its footing. Technically speaking, nickel has closed at least once below
major support at $7.19/lb, and a second close today, could send a signal
of further price declines. Whether technicals actually prove out or not remains
to be seen, but it does tell us the weakness ni nickel prices should continue
for the foreseeable future. Nickel is deeply oversold, and the Euro is up
nearly 2/3 of 1% against the US Dollar, which is a big plus for nickel and
commodity trading. Much of nickel's sell off can be credited to a general
sell off of commodities worldwide, and with the dust starting to settle on
this recent rout, it will be interesting to see if nickel can gain some recovery
momentum.
Average price of cash nickel so far this month - $7.27/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(SMM) According to an SMM survey, 70% of market players believe nickel prices
will fall below USD 15,400/mt.
China March commodity output slows, fans soft recovery fears -
more
(Kitco) BMO Research also reduced some base metals price forecasts,
saying “while emerging markets’ demand is expected to improve by
the second half of 2013, price gains will be tempered by the anticipation
of increased supply near term.” ... It now estimates 2013 ....
nickel prices at $8.09 a pound, down from $8.28 ....
Massive landslide stops production at Bingham Canyon Mine -
more
Glencore-Xstrata Deal Clears Final Hurdle With China Approval -
more
Industrial Metals Extend Drop as Nickel Falls to Eight-Month Low -
more
Price of
Stainless Steel Scrap Dips by JPY5,000 This Week =Following a dip in LME
nickel price= The market price for nickel-containing stainless steel scrap
(SABOT) dipped by JPY5,000 in the 2nd week of April. -
more
South
Africa mine wage talks may be toughest yet - Wage talks across South Africa's
mining sector starting in May will be among the toughest ever with strikes
a certainty given inflation, worker militancy and shrinking company margins.
-
more
JSL
in JV with Posco for Odisha project - Jindal Stainless Ltd (JSL) and Posco
on Wednesday signed a strategic pact that includes cooperation in South Korean
major’s $12 billion steel mill project in Odisha and joint exploration
for a nickel facility in Indonesia. -
more
Nickel
Asia shipments drop in first quarter - Nickel Asia Corp. on Monday said it
earned less in the first quarter of the year after the volume of nickel shipments
was lower compared with that of last year while world prices on the commodity
declined. -
more
Kapurthala
RCF to export stainless steel coaches to Bangladesh - The rail coach factory
(RCF) at Kapurthala has been assigned to manufacture and export stainless
steel coaches to Bangladesh, a senior official said. -
more
Courtesy AISI
- In the week ending April 13, 2013, domestic raw steel production was 1,880,000
net tons while the capability utilization rate was 78.5 percent. Production
was 2,014,000 tons in the week ending April 13, 2012, while the capability
utilization then was 80.9 percent. The current week production represents
a 6.7 percent decrease from the same period in the previous year. Production
for the week ending April 13, 2013 is up 1.2 percent from the previous week
ending April 6, 2013 when production was 1,858,000 tons and the rate of
capability utilization was 77.6 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, April 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$7.19/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.16/lb
lower, with all London
traded base metals trading lower today. Stockpiles of nickel stored in LME
approved warehouses fell on Friday and now total just over the 168,750 tonne
level. It is day two of a general commodity bath and nickel is not escaping
the rush. While others may attempt to put a finger on the cause, we are convinced
this is bear charge is now feeding on itself and the effect is the news,
not any supposed cause. Nickel in India ended 2.1% lower today, In Shanghai,
spot nickel ended 3.7% lower. In London, the price of nickel has fallen below
major support at $7.19/lb and if it closes below this level for two consecutive
sessions (some might say it already did on Friday at $7.187/lb), then
a technical signal is given for further price declines. The Euro is lower
against the US Dollar, adding further negative pressure. China's first quarter
GDP came in at 7.7%, shy of the 8% forecast. Asian markets ended lower, European
equity markets are trading lower, and US futures are lower.
Average price of cash nickel so far this month - $7.30/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
Glencore concessions to China expected for Xstrata deal -
more
4/12 - AK Steel
said today that it will increase base prices for all 200, 300 and 400 series
flat rolled stainless steel products, effective with shipments on May 6,
2013. AK Steel said this increase will be achieved through a reduction in
the functional discount of two percentage points for cold rolled and hot
rolled non-automotive exhaust products. Base prices for automotive exhaust
grades will increase by $0.03 per pound, effective with shipments on June
3, 2013.
Extended
slump makes surplus steel capacity a concern: Posco - Surplus Stainless steel
capacity is a serious concern warned Posco, the world largest maker of the
alloy. -
more
ISSF has
launched a video called Stainless Steel Roofing: from Dream to Reality. The
video explains why stainless steel is the ideal material for any roof. You
can watch the video on YouTube: -
more
Greater
suspicions on MCC’s activities - The PNG Government and the Chinese-owned
Ramu Nickel Mine hasn’t come out clear regarding allegations by the
Madang people that the MCC is conducting other activities, apart from mining
nickel and cobalt. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, April 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.38/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.09/lb
lower, with all London
traded base metals trading lower this morning. Stockpiles of nickel stored
in LME approved warehouses gained yet again on Thursday, setting a new record
high of 169,386 tonnes. European debt crisis news is back this morning, and
at least for the moment, has put a halt to the bullishness in world equity
markets. The Euro is down on confusion on whether Cyprus has asked for more
financial aid or not. A group of euro-zone finance ministers is meeting today
to finalize terms fo a rescue package to Cyprus, and European nervousness
is spreading across the pond. With US futures lower, it appears some traders
are taking some profits. At the moment nickel is still in a freefall, but
with major support at $7.19/lb, we do not expect the decline to be too sharp
by days end. Then again, we have been wrong before. Have a safe and relaxing
weekend!
Average price of cash nickel so far this month - $7.31/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(FAN) Nippon Steel Sumikin Stainless, the largest stainless steel producer
in Japan announced to remain its list prices for ferritic and austenitic
stainless steel sheets and plates unchanged for May deliveries
(Reuters) China's Baoshan Iron & Steel (Baosteel), the country's largest
listed steelmaker, said on Thursday it will keep the prices of its main products
unchanged for May bookings, the first time in six months it has not raised
prices.
Weekly
Round-up
US 18-8 Stainless Steel Scrap Truckload Rate - average $.69/lb midwest to
$.70/lb west coast - unchanged for week
China 18-8 Stainless Steel Scrap Truckload Rate - $.75/lb average Shanghai
- unchanged for week
Shanghai Metal Exchange Nickel Spot Metal - 113000-114000 RMB/T - down 200
for week
India MCX Exchange May Nickel - 885.80 Rs - down 11.40 Rs/for week
Crude
SUS Production by Major SUS Mills in Feb. Is 294,083 Tons =Down by 6% from
the prior month, but up by 4% in terms of daily production= The crude stainless
steel production by 7 major stainless steel mills in February was 294,083
tons, down by 5.9% from the prior month (312,628 tons). -
more
Worldsteel
Short Range Outlook - The World Steel Association (worldsteel) today released
its Short Range Outlook (SRO) for 2013 and 2014. worldsteel forecasts that
global apparent steel use will increase by 2.9% to 1,454 Mt in 2013, following
growth of 1.2% in 2012. In 2014, it is forecast that world steel demand will
grow further by 3.2% and will reach 1,500 Mt. -
more
March steel
inventories hit record high - Inventories of steel products in China hit
a record high in March, the Ministry of Industry and Information Technology
(MIIT) revealed Thursday, in further bad news for the nation's steel sector,
which has been hit hard amid the economic showdown. -
more
Firm to invest
in PolyMet Minn. copper-nickel mine - A Swiss firm has pledged to invest
$80 million in PolyMet Mining's plans for a copper-nickel mine in northeastern
Minnesota. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, April 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$7.27/lb. Indicators
at 6:50 am CST today show 3 month nickel trading flat
, but the session
so far has been choppy and traders are trying to take the price higher, while
other London traded base metals are mostly lower. Stockpiles of nickel stored
in LME approved warehouses rose to another record high yesterday and now
total just shy of 168,400 tonnes. New Caledonia's newest mega mine is reportedly
starting to produce nickel. Local media reports Xstrata's Koniambo mine is
up and running. The Euro is higher against the US Dollar, European equity
markets are mostly higher, US Dow futures are higher. Shanghai spot nickel
rose overnight, while India's MCX nickel fell
Average price of cash nickel so far this month - $7.32/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
New
Caledonia’s Koniambo plant starts operations - New Caledonia’s
huge Koniambo nickel plant has been fired up to produce its first metal.
-
more
Xstrata’s Koniambo Nickel project goes into production -
more
Nickel stocks not just a question of quantity: Andy Home - Nickel stocks
held in the London Metal Exchange (LME) warehouse system hit a fresh all-time
high of 167,700 metric tons (184,858 tons) on Tuesday. -
more
China to
close 7.8 mln T of outdated steel capacity in 2013 - China aims to shut down
7.8 million tonnes of outdated steel capacity this year as part of its plans
to consolidate and upgrade the sprawling and chaotic sector, the country's
industry ministry said in a statement on Thursday. -
more
Jindal Stainless
joins hands with Posco for steel mill, nickel smelting and more - Ratan
Jindal-led Jindal Stainless Ltd, part of the $16.5 billion OP Jindal Group,
has signed a memorandum of understanding with South Korean steel major Posco
for a long-term joint business opportunity. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, April 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$7.35/lb . Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, and off earlier
session highs, with other London traded base metals trading mixed and mostly
higher. Stockpiles of nickel stored in LME approved warehouses rose to yet
another record high on Tuesday and now total 167,700 tonnes. The Euro is
trading stronger against the US Dollar, adding strength to commodity traders.
World equity traders were stunned this morning when China reported a trade
deficit, giving evidence that personal consumption in that country is increasing
more rapidly than earlier thought. The Fed minutes will be released at 2
pm EST today, and this will guide the market thereafter. Nickel i showing
signs of losing steam after three days on the rise. In China, Shanghai spot
nickel was flat at 113500-114500 today, while ferrochrome and molybdenum
were also unchanged.
Average price of cash nickel so far this month - $7.31/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(LG) According to China Iron and Steel Association, the daily crude steel
production of its members in late March was 1.6758 million tonnes, up 0.49
percent from that in mid March. Meanwhile, the figure nationwide is estimated
to be 2.0719 million tonnes in late March, increasing 0.4% versus mid March
(Dow Jones) Jindal Stainless: To Consider Setting Up Nickel Smelter in Indonesia
(China) Steel industry must change growth model -
more
WTO Cuts 2013 Global Trade Growth Forecast to 3.3% -
more
Effective with
shipments beginning on May 6, 2013, ATI Allegheny Ludlum is increasing prices
on all 200 and 300 series cold-rolled sheet and strip and cold-rolled tubular
quality sheet and strip and Precision Rolled Strip® products. This price
increase will be achieved by reducing the functional discount by two percentage
points. ATI Allegheny Ludlum is also increasing prices on hot-roll sheet,
continuous-mill-plate products and hot-roll tubular quality sheet and strip.
This price increase will be achieved by increasing the price by $0.02/lb.
This action is necessary to support continued growth and investment in our
business.
Turkey's
Export of Chrome Ore in March, 2013 Is 63,666 Tons =Drastically down by 61%
from prior month, and export to China continues to decline= Turkey's export
of chrome ore in March, 2013 was 63,666 tons, drastically down by 60.9% from
the prior month. -
more
Nickel
miner INCO sets aside $216 million for investment - Nickel miner PT Vale
Indonesia, whose shares are traded on the bourse under the code INCO, is
planning to spend up to US$216 million to support its business this year.
-
more
Profit
eludes accident-prone Finnish nickel mine - Talvivaara CEO Pekka Pera still
has the one euro coin he used to buy the rights to ore deposits at the company's
nickel mine in Sotkamo, eastern Finland, a decade ago. -
more
Mine
Town Rents Beating Manhattan Show Aussie Pain: Commodities - A furnished
two-bedroom apartment in Port Hedland, the world’s biggest bulk export
terminal, on Australia’s cyclone-battered north-western coast rents
for almost the price of a three-bedroom penthouse in Manhattan. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.28/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
higher, with most London
traded base metals trading higher as well. Stockpiles of nickel fell off
their record high on Monday and now total just shy of the 166,800 tonne level.
There was a trader quote on the Dow jones Newswire this morning that is worth
quoting . "Fed stimulus remains a more important driver of base metal prices
than supply and demand factors, traders say." With that said, the notes from
the last FOMC meeting will be released tomorrow and will be scanned closely
for hints on when Fed stimulus may end. There has been a lot of talk on what
caused the sudden change in trader sentiment on US markets, and we feel it
can go back to a debate held between two Fed members in Atlanta, Georgia
the night before the market suddenly turned. In China, nickel and molybdenum
prices rose overnight. The Euro continues to gain against the US Dollar,
and in our opinion, accounts for much of the reason nickel is trading higher
the last few days. A Chinese metals site is reporting Baosteel is cutting
production of stainless steel due to lower demand.
Average price of cash nickel so far this month -
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
Small-Business Owner Optimism Cannot Be Sustained -
more
Nickel: Inventory,
Prices Point To A Self Supporting Market - According to the U.K.’s World
Bureau of Metal Statistics, the nickel market was in surplus from January
to December 2012 with production exceeding apparent demand by 137,000 tons.
-
more
WA nickel
mine to close this month - About 180 workers will be out of a job as Russia's
Norilsk Nickel closes its Lake Johnston operations this month. -
more
INTL
FCStone trader swaps ring trading for boxing ring in final bout - Bradley
Levitan, a trader with London Metal Exchange ring-dealer INTL FCStone, will
be trading punches instead of metal on April 18 when he steps into an altogether
different type of ring for a charity boxing match. -
more
MCC Ramu
Nickel’s suspicious activities - Word about the Chinese-owned MCC Ramu
Nickel Mine in Madang Province packaging and shipping other resources and
not only mining nickel and cobalt is going around like wildfire and the people,
the Landowners are frustrated. -
more (anti-mining website)
BIR strongly encourages member companies to make use of IMB services - As
part of an agreement the Bureau of International Recycling (BIR) has in place
with the ICC International Maritime Bureau (IMB), its members are encouraged
to use the latter’s services to aid loss-prevention. -
more
Mining Firm
Interested In Southern Oregon Nickel - A Portland mining firm owned mostly
by a U.K. company wants to explore the nickel laterite potential in the Rogue
River-Siskiyou National Forest. -
more
(Courtesy AISI)
In the week ending April 6, 2013, domestic raw steel production was 1,858,000
net tons while the capability utilization rate was 77.6 percent. Production
was 2,014,000 tons in the week ending April 6, 2012, while the capability
utilization then was 80.9 percent. The current week production represents
a 7.7 percent decrease from the same period in the previous year. Production
for the week ending April 6, 2013 is up 2.1 percent from the previous week
ending March 30, 2013 when production was 1,819,000 tons and the rate of
capability utilization was 75.9 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, April 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$7.23/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.12/lb
higher with other London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME approved warehouses rose on Friday to 166,866 tonnes, another new record
high, the second record high set in as many weeks. Base metals, and nickel
in particular, appear to be benefitting by a rising Euro, which rose sharply
on Friday but too late to help nickel traders. They appear to be catching
up today as the Euro extends its gains against the US Dollar. There is also
some bargain buying taking place, in both commodities and equities, after
a week that proved brutal to most. There is little fundamental news
to back this positive trend, and it is doubtful, in our opinion, that if
it lasts very long unless there is an overall shift in trading sentiment.
Chinese media reports ferrochrome, Jinchuan nickel and 1.8% laterite ore
all lower today.
Average price of cash nickel so far this month - $7.32/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(Dow Jones) JPMorgan trims its 2013 price forecasts on all base metals apart
from tin to reflect the metals' recent poor performance. The bank cuts its
2013 ..... nickel forecast to $17,453/ton from $18,750/ton.
(Dow Jones) U.S. nickel exports fell 35.0% in February from the previous
month, and was down 33.3% from the previous year, the Commerce Department
reported Friday.
(Dow Jones) U.S. nickel imports rose 3.2% in February from last month, but
was down 17.6% from the previous year, the Commerce Department reported Friday.
(MB) Brazil's nickel production will grow 43% in the 2011-2016 period to
reach 100,000 tpy, according to estimates released by the country´s
mining institute, Ibram.
Hedge Funds Cut Bets Most Since ’08 as Prices Slump: Commodities -
more
Playing
the new LME warehousing game: Andy Home - The London Metal Exchange's new
warehouse load-out rules came into effect at the start of this month.-
more
Global miners
keen to tap Chinese market - Global producers said they will continue to
invest in China because the country's urbanization and industrialization
will continue to support iron ore demand. -
more
Uranium found
in rock storage area at UP mine - Tests have turned up uranium in water samples
from a rock storage area at a nickel and copper mine under construction in
Michigan's Upper Peninsula. -
more
UMD event to include supporters, skeptics of copper mining -
more
Firm proposes
national forest nickel exploration - A mining company wants to explore for
nickel in an Oregon national forest but the proposal is drawing opposition
from a conservation group that says the sites need additional protections.
-
more
Nickel mining proposed in Rogue River-Siskiyou National Forest -
more
Talvivaara
Slumps to Record Low on Further Leak: London Mover - Talvivaara Mining Co.,
the Finnish nickel miner, plunged to a record in London trading after another
wastewater leak was detected at its only mining site. -
more
Talvivaara plant shut down after water leak -local authority -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, April 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.30/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with all London
traded base metals trading lower, but only slightly. Stockpiles of nickel
stored in LME approved warehouses rose on Thursday and now totals just shy
of the 166,300 tonne level. From a week ago, stockpiles are up 1,632 tonnes,
but off Tuesday's all time record high reading of 166,716 tonnes. Markets
are lower today as markets await to see if US employment numbers from March
will send another slowing signal about the US economy. The Dow rose yesterday
as traders bet the numbers would look good, while this morning, they have
apparently lost their nerve and the market futures are lower. Nickel had
a bad week, with daily trading ranges showing a consistent downtrend since
March 25th. A better than expected US jobs report today could help boost
nickel heading into the weekend, while a negative report appears to be already
priced into the market. Have a safe and relaxing weekend!
Average price of cash nickel so far this month - $7.35/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
Streeter tops up Western Areas shareholding -
more
Weekly Round-up (new feature in test. prices as of Thursday's close)
US 18-8 Stainless Steel Scrap Truckload Rate - average $.69/lb midwest to
$.70/lb west coast
China 18-8 Stainless Steel Scrap Truckload Rate - $.75/lb average Shanghai
Shanghai Metal Exchange Nickel Spot Metal - 113200-114200 RMB/T
India MCX Exchange May Nickel - 897.90 Rs
Baoxin 304 Stainless Steel Coil Traded Price - down $100/tonne for week /
down $500/tonne for month
Baoxin 430 Stainless Steel Plate Traded Price - unchanged for week / up
$100/tonne for month
Japan Ferroalloy
Import Market Report - End-March, 2013 = Prices of Chinese silicon metal
and manganese metal are declining = The market situation in Japan of ferroalloy
imports at the end of March is as follows. -
more
Nickel
Asia says 2012 profit down 37% on strong peso, low LME prices - Nickel Asia
Corp., the country’s largest nickel miner, reported a 37 percent drop
in net income last year to P2.22 billion, dragged by lower nickel prices
and a stronger peso. -
more
African
Eagle says nickel sulphide elements underline strength of Dutwa - African
Eagle Resources has discovered significant nickel sulphide and platinum elements
immediately below its core laterite deposit at Dutwa in Tanzania. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, April 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesdays trading session at
$7.31/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals mixed and mostly quiet. Stockpiles of nickel stored
in LME approved warehouses fell slightly on Wednesday and now totals just
under the 165,950 tonne level. Nickel's decline has stopped and is holding
near another line of technical support, around $7.30/lb. European equity
markets are trading flat, while Asian markets, less China who is closed for
the next two days, were lower. US Dow futures are higher on news that the
Bank of Japan announced its own round of massive QE easing. Nickel traders
appear stunned and trying to figure out what teh market holds in the future.
Our China SS price index continues to drop.
Average price of cash nickel so far this month - $7.43/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(Dow Jones) Zambia's sole nickel producer, Munali Nickel Mine, should be
able to restart output before year's end after Jinchuan Group International
Resources Co. (2362.HK) said it would to take full ownership of the mine's
owner, a government minister said Wednesday.
(FAN) The price of Chinese 304 stainless steel scrap closed April 2, 2013
by halting its three-day flat run with a 2.2 percent drift.
Chinese media is reporting melting grade nickel spot premiums are currently
at a 10 year low due to little demand.
First Nickel Reports 2012 Financial and Operating Results -
pdf here
Mining
hits 6-month low on commodity prices - South Africa’s mining index,
accounting for 24% of the country’s stock market weighting, declined
to its lowest in almost seven months as commodity prices fall on weak demand
prospects. -
more
Guatemala
Approves Two Mining Licenses, Energy Ministry Says - Guatemala’s Energy
and Mines Ministry awarded licenses to Compania Guatemalteca de Niquel, S.A.
and Minera San Rafael S.A. to begin mineral extraction in Central America’s
largest economy, the ministry said in a statement published on its website.
-
more
No rush on Xstrata Nickel project: Environment - The studies being conducted
by the UN Development Program (UNDP) prior to Xstrata Nickel’s possible
exploitation of Loma Miranda will take the time required to satisfy the Dominican
people’s hopes, and, will be announced in detail once concluded. -
more
Hong Kong-Based
CEF Loans $30M to Duluth Metals - A major financing company based out of
Hong Kong is helping finance Duluth Metals for its share of costs for mining
copper-nickel in the Duluth Complex. -
more
Nickel-Based Super Alloys - This Insight report, the twentieth in the series
of INSG Insight briefing reports, provides members with information on one
of the many downstream uses of nickel; the use of nickel-based super alloys.
- pdf here
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, April 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$7.43/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.09/lb
lower, with most
other London traded base metals trading lower as well. Stockpiles of nickel
fell off yesterday's record high and now total just over the 166,00 tonne
level. World equity markets are quieter today than yesterday, but base metals
trading, specifically nickel, is continuing yesterday's rout. Nickel opened
lower this morning and hasn't done much since. Nickel closed below a key
support level yesterday and unless it gets a big bounce later today, it will
close below the level for a second day, signalling further declines are very
likely from a technical view. Yesterday's close was its lowest since November
of last year. Container price for cleaned 18-8 stainless steel scrap is currently
averaging $.69/lb in the US midwest, $.70/lb on the coasts, and $.75/lb in
Shanghai, China.
Average price of cash nickel so far this month - $7.47/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(PR) MMC Norilsk Nickel, the largest global nickel and palladium producer,
announces today the cancellation of 18,470,925 ordinary shares representing
9.69% of the Company's share capital.
(Bloomberg) Markets in China will be closed April 4-5 for a holiday.
Nickel Melting
A Chocolate Bunny Transforms Into A Burning Ball Of Chocolate -
more
LT Contract
Price of LC FeCr from Apr. to Jun. in 2013 Is Cents 195 =Price level for
January - March period remains unchanged= The long-term (LT) contract price
of low carbon ferro-chrome in the stainless steel mills in Japan has been
fixed at Cents 195 per lb, which remained unchanged as compared with the
price for January - March period. -
more
Metals Service
Centers Shipments Lower in February U.S. metals service center shipments
of steel products in February 2013 were 3.4 million tons, down 7.9% from
February 2012. -
more
Rising supply
set to weigh on metals prices suggests Credit Suisse - Prices of industrial
and precious metals are set to mark time at best over the rest of the year
as supply begins to increase, according to new research from Credit Suisse.
-
more
Citinickel
Mines planning to put up smelting plant - Citinickel Mines and Development
Corp., a subsidiary of listed Oriental Peninsula Resources Group Inc. is
keen on putting up its own smelting plant scheduled to go on line by 2014.
-
more
Bumblebees at risk of death from metal in flowers - Bumblebees are at risk
of death by ingesting toxic amounts of aluminum and nickel found in flowers
growing in polluted soil, according to a new report yesterday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.56/lb. Indicators at 7:00
am CST today show 3 month nickel trading around $.10/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses rose over the Easter weekend and now total 166,716
tonnes. This is a new record high, bypassing the 166,476 tonne total recorded
on 2/8/2010. Nickel trading has been moving lower thru much of today's session,
although its decline has been halted over the past few hours. Commodity markets
are responding to PMI numbers from yesterday, with both China and US numbers
disappointing and Europe numbers downright depressing. And while equity markets
are trading at record levels in the US, the economies and North America and
Asia are having a hard time finding footing with Europe problems muddying
the path. Our China stainless steel index numbers continue to fall into territory
we haven't seen since beginning tracking our index a few years back.
Average price of cash nickel so far this month - pending
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
CISA - 2013 China Iron Ore Import May be 7.7 million tonnes - "Mr Wu who
also noted that steel prices however may not see significant rebound in the
next five years despite help from rising demand and solid cost." -
more
Baosteel leads steel industry with 41 pct profit surge -
more
(MNP) Albidon has been thrown a lifeline in the form of a merger transaction
after a subsidiary of the company’s major shareholder, China’s
Jinchuan Group, announced it would pick up a 100% stake in the beleaguered
nickel company.
(Law360) The U.S. International Trade Commission on Monday said it is opening
up an anti-dumping investigation into whether a portion of the domestic steel
industry is being harmed by imports of certain Japanese nickel-plated steel
products used to make batteries.
North American
Stainless will maintain the fuel surcharge of 36% for stainless flat and
long products shipping in the month of April 2013. The surcharge rate is
considered a maximum level for April and will be reviewed monthly.
Effective with shipments April 1, 2013 North American Stainless is increasing
angle prices by 5% for grades 304L and 316L, in the attached angle sections.
-
more
Raw-Material
Bull Market Fading as Supply Expands: Commodities - At a time when U.S. equities
are trading near a record and the dollar is having its best start in three
years, commodities will finish this quarter little changed from where they
were at the end of 2012. -
more
Japanese
Mills Show Reluctance on Charged Cr Nego. for Next Quarter Shipment - The
price of charged chrome to be shipped in the next quarter (April - June)
to Europe has been fixed between charged chrome smelters in South Africa
and chrome-type stainless steel mills in Europe at US$1.27 per lb, up by
US Cents 14.5 (13%) from the previous quarter. -
more
Glencore
Extends Xstrata Deal Deadline Again Amid China Talks - Glencore International
Plc, the largest publicly traded commodities supplier, pushed back the deadline
to complete its $32 billion takeover of Xstrata Plc (XTA) for a fourth time
because it’s yet to secure approval from China. -
more
The Department
of Commerce (“the Department”) has received requests to conduct
administrative reviews of various antidumping and countervailing duty orders
and findings with February anniversary dates. In accordance with the Department's
regulations, we are initiating those administrative reviews. -
pdf here
BRAZIL: Stainless Steel Bar A-351-825 2/1/12 - 1/31/13
INDIA: Stainless Steel Bar A-533-810 2/1/12 - 1/31/13
JAPAN: Stainless Steel Bar A-588-833 2/1/10 - 1/31/11
Courtesy AISI
- In the week ending March 30, 2013, domestic raw steel production was 1,819,000
net tons while the capability utilization rate was 75.9 percent. Production
was 1,982,000 tons in the week ending March 30, 2012, while the capability
utilization then was 79.6 percent. The current week production represents
a 8.2 percent decrease from the same period in the previous year. Production
for the week ending March 30, 2013 is up 0.6 percent from the previous week
ending March 23, 2013 when production was 1,809,000 tons and the rate of
capability utilization was 75.5 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, April 1
The
London Metal Exchange is closed today for Easter and will resume trading
Tuesday.
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.56/lb. 3 month nickel
is untraded today as the London Metal Exchange is closed for Easter. The
purchasing manufacturing index reading from China gave a pleasant surprise
this morning, up to 50.9, its best reading since the 53.3 reading last April.
Asian markets were unimpressed and closed lower. European markets are closed,
while US futures are slightly higher at the moment. US markets will wait
for its own PMI reading out in a few hours.
Average price of cash nickel so far this month - pending
Average cash price of nickel last month - $7.59/lb / average April 2012
- $8.12/lb / average last year - $8.08/lb
China's Baosteel 2012 profit up 41 pct on one-off asset sale -
more
Putin May Cap Golden Parachutes After Ally’s $100 Million Payout -
more
Bullish Bets Rebound at Fastest Pace in Four Years: Commodities -
more
Shanghai copper slides to 9-mth low on euro, property sector -
more
China Manufacturing Expands at Faster Pace, PMI Gauges Show -
more
Prices of
CR Austenitic Stainless Sheets Drop Back to $2,600 CFR Level - Export prices
of cold-rolled (CR) austenitic stainless steel sheets in the Asian region
drop back to $2,600 to 2,650 CFR which was the level in October-December
last year. -
more
Labrador
nickel mine to operate 15 extra years - The Voisey’s Bay open pit nickel
mine in northern Labrador will be expanded to include underground mining,
extending the life of the operation by 15 years, the Newfoundland and Labrador
government announced Thursday. -
more
New nickel mine set for Voisey's Bay - Vale has announced it will open an
underground nickel mine at its Voisey's Bay operations, creating hundreds
of new jobs. -
more
State
to revive Munali nickel mine - Government is still looking for a viable partner
to revive operations at Munali Nickel Mine in Mazabuka, Minister of Mines,
Energy and Water Development Yamfwa Mukanga has said. -
more
Shaping
the world - As part of Sheffield’s commemoration of 100 years of stainless
steel, Kelham Island Museum will pay its own tribute to Harry Brearley and
his discovery with two new exhibitions opening this weekend. -
more
Man of Steel to make his debut at global festival - A four-metre model of
the Man of Steel - the giant sculpture designed to overlook the M1 to the
east of Sheffield - is to make its debut next month at the Global Manufacturing
Festival. -
more
China's 2012
nonferrous metal output up 7.5 pct - China produced 36.96 million tonnes
of 10 major nonferrous metals in 2012, up 7.5 percent year on year, the China
Nonferrous Metals Industry Association (CNIA) said Friday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators at
7:00 am CST today show 3 month nickel trading around $.10/lb
lower, with all other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose on Monday and for the 11th session this month,
recorded a new all time record high, which in today's case, is 177,036 tonnes.
This reflects a net gain of 11,616 tonnes from the last day of March. Eurostat
reports unemployment in the Eurozone is now a record 12.1%, Spain reports
its GDP fell by 1/2 of 1% in the last quarter, and Greece reports retail
sales fell 14.45 in February compared to last year. With this, the Euro is
lower, which has stimulated commodity traders to take short term profits
before the end of the month, and for most of the world, a May Day holiday
tomorrow. The LME will trade tomorrow as the UK and US do not celebrate May
Day. Three month nickel ended March at $7.56/lb and looks to close April
below the $7/lb level. The average cost of cash nickel fell by nearly a full
dollar per pound. Last years "bottom" was seen in August, late in the summer
and typically, a slower period for stainless steel production, where the
price of traded nickel closed on August 12, 2012 at $6.92/lb. This month,
we saw nickel close on the 23rd at $6.86/lb. Another interesting fact about
August 2012, was cancelled warrants rose over the 10% level for the first
time, and have remained above that level for most of the trading period since.
For this month, cancelled warrants have ended mostly in the 14% range. China
markets are closed for the first three days of this week so activity from
Asia is muted.
Reports
Commodity/Economic Comments
Price of
Ni-containing SUS Scrap Is Lowered By JPY5,000 - 7,000 This Week = Due to
slumping LME Ni price= In light of slumping LME nickel price, respective
stainless steel mills in Japan lowered a purchase price of nickel-containing
stainless steel scrap (SABOT) by JPY5,000 - JPY7,000 per ton from the prior
week (3rd week of April). -
Steel Group: LME Warehouse Rules Create Shortfalls, Distort Prices - The
London Metal Exchange's warehouse system is creating an artificial shortage
of zinc, forcing consumers of the metal to pay higher prices, a trade group
representing European steelmakers said in a report. -
Poseidon
to reopen famous Goldfields mine - Poseidon Nickel has announced it will
re-open its historic Goldfields nickel mine in Western Australia. -
Analysis:
Commodity shakeout emboldens risk-seeking investors - This month's plunge
in commodities may reinforce a benign growth outlook that will encourage
investors to keep taking on risks rather than signalling an imminent collapse
in the global economy. -
Courtesy AISI
- In the week ending April 27, 2013, domestic raw steel production was 1,866,000
net tons while the capability utilization rate was 77.9 percent. Production
was 2,014,000 tons in the week ending April 27, 2012, while the capability
utilization then was 80.9 percent. The current week production represents
a 7.3 percent decrease from the same period in the previous year. Production
for the week ending April 27, 2013 is down 0.4 percent from the previous
week ending April 20, 2013 when production was 1,858,000 tons and the rate
of capability utilization was 77.6 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Sulawesi
Mining to Invest $1.06b in Smelter - Sulawesi Mining Investment, an
Indonesian-Chinese joint venture company, plans to invest $1.06 billion in
a Central Sulawesi nickel mining operation, including a plan to build a smelter,
an industry executive said on Thursday. -
Metal producers
falter in cooling market - Fifty-five of the 74 A-share listed nonferrous
metal producers which released financial reports for 2012, said they saw
declining net profits due to coo ling market demand amid slowed economic
growth. -
Zim unlikely
to seize mine stakes: Mpinga - Fears that Zimbabwe’s government will
strip foreign mines of half their assets without compensation are unfounded,
according to Kalaa Mpinga, chief executive of Mwana which has gold and nickel
operations there. -
Tycoons
tap mining cash for Olympic projects - Two Russian tycoons will tap the
prodigious cash flows of the country’s largest mining company to help
complete their construction projects for next year’s Winter Olympics
in Sochi, whose budget has spiraled to a record $50 billion. -
POSCO's
Prices of CR Austenitic Stainless Sheets to Be below $2,600 CFR - The market
prices of cold-rolled (CR) austenitic stainless steel sheets in Asia are
dropping responding to price down of the LME nickel price, and POSCO of Korea
seems to have been proceeding with negotiations at around $2,550 CFR dipping
below $2,600 CFR for May/June shipment. -
Jindal Stainless
plans to double Odisha plant capacity to 2 MT - Jindal Stainless, the largest
domestic stainless steel producer, is planning to double its Odisha plant
capacity to 2 million tonnes (MT), a top company official said today. -
Small
miner gets Court go-ahead - The Zambales Regional Trial Court has junked
the petition for injunction of a large mining company to stop a small-scale
miner to gather and export the firm's alleged chromite stockpile in Masinloc
in Zambales. -
Drinks
on the rocks? Stainless steel used to cool drinks instead of ice to stop
alcohol being watered down - These new ice cubes will not water down or change
the taste of a drink - because they are made from stainless steel. -
Ramu NiCo
doing well, despite price drop - Ramu Nickel project in Madang is going well
despite the fall in nickel price caused by weak stainless steel production
outside China, according to Highlands Pacific Ltd -
Beat
the peak, Eskom urges consumers - Eskom has repeated its urgent call on
electricity users to help it "beat the peak" this winter by switching off
non-essential appliances between 17:00 and 21:00 each day. -
EU may force
Aperam to sell some steel assets if buys Italy mill - The European Commission
may oblige steelmaker Aperam, bidding to buy Outokumpu's stainless steel
plant in Terni, to sell other steel assets if it succeeds, a commission source
said. -
Guatemalan
Lawsuit Against Canadian Mining Giant May Set Precedent - A group of indigenous
Mayan Q'eqchi' have filed three civil lawsuits in Canada against HudBay Minerals
Inc. of Toronto for alleged human rights atrocities committed by its subsidiaries
- HMI Nickel, Skye Resources and Compañía Guatemalteca de
Níquel - at the company's nickel mine in eastern Guatemala. -
Blast
at Koniambo nickel plant in New Caledonia - A minor explosion has occurred
at New Caledonia’s new Koniambo nickel plant as the first quantity of
nickel was being produced. -
ThyssenKrupp
a good example for China steel mills - China's steel makers that are suffering
huge losses because of overcapacity may learn how to survive from the successful
example of German company ThyssenKrupp AG. -
Vale iron
ore output falls; copper, cobalt rise - Iron ore output at Brazilian global
miner Vale SA, the world's largest producer of the main steel ingredient,
fell 3.5 percent in the first quarter on declining ore quality and license
delays at old mines, the company said on Wednesday. -
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.09/lb
Nickel prices
a huge challenge: Vale VP - Kelly Strong, Vale’s vice-president of Ontario
and UK operations, addressed a packed luncheon at the Howard Johnson in Sudbury
on Tuesday, where he outlined the company’s future plans for its local
operations. Strong says $7 nickel today equals $2.50 a decade ago. -
ISSF has
launched a video called Stainless Steel Roofing: from Dream to Reality. The
video explains why stainless steel is the ideal material for any roof. You
can watch the video on YouTube: -
Worldsteel
Short Range Outlook - The World Steel Association (worldsteel) today released
its Short Range Outlook (SRO) for 2013 and 2014. worldsteel forecasts that
global apparent steel use will increase by 2.9% to 1,454 Mt in 2013, following
growth of 1.2% in 2012. In 2014, it is forecast that world steel demand will
grow further by 3.2% and will reach 1,500 Mt. -
Turkey's
Export of Chrome Ore in March, 2013 Is 63,666 Tons =Drastically down by 61%
from prior month, and export to China continues to decline= Turkey's export
of chrome ore in March, 2013 was 63,666 tons, drastically down by 60.9% from
the prior month. -
Profit
eludes accident-prone Finnish nickel mine - Talvivaara CEO Pekka Pera still
has the one euro coin he used to buy the rights to ore deposits at the company's
nickel mine in Sotkamo, eastern Finland, a decade ago. -
African
Eagle says nickel sulphide elements underline strength of Dutwa - African
Eagle Resources has discovered significant nickel sulphide and platinum elements
immediately below its core laterite deposit at Dutwa in Tanzania. -
No rush on Xstrata Nickel project: Environment - The studies being conducted
by the UN Development Program (UNDP) prior to Xstrata Nickel’s possible
exploitation of Loma Miranda will take the time required to satisfy the Dominican
people’s hopes, and, will be announced in detail once concluded. -
Glencore
Extends Xstrata Deal Deadline Again Amid China Talks - Glencore International
Plc, the largest publicly traded commodities supplier, pushed back the deadline
to complete its $32 billion takeover of Xstrata Plc (XTA) for a fourth time
because it’s yet to secure approval from China. -
