This page is archived news covering the period of April 2013
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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Nickel Prices

Stainless Steel News

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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Heads for Biggest Decline Since May on Demand Concern - more
  • LME Morning - Metals struggle as technicals stall, European data underwhelms - more

  Reports

  • Nickel-Based Super Alloys - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here
  • Technical forecast for Nickel - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines for Second Day on U.S., China Demand Concerns - more
  • LME Morning - Base metals mostly higher, copper moves back above $7,100/t - more

  Reports

  • World Steel Production - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here
  • Technical forecast for Nickel - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 87.88
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Poised for First Weekly Gain in Six on U.S. Jobs Data - more
  • LME Morning - Base metals consolidate slightly lower, relief rally peters out ahead of Asian holiday - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here
  • Technical forecast for Nickel - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 88.02
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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.
  • Sherritt revenues, profit lagging - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits 1-week peak on short-covering; zinc dips - more
  • Bloomberg metals morning - Copper Rises Before Report Predicted to Show Better U.S. Growth - more
  • LME Morning - Metals drift back as correction stalls, copper pares gains - more

  Reports

  • First-quarter Nickel Market Report - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here
  • Technical forecast for Nickel - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 88.23
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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
  • Richest Americans got richer - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper up, crosses $7,000 briefly, economic outlook in focus - more
  • Bloomberg metals morning - Copper Rises as Commodities Advance Amid Stimulus Speculation - more
  • LME Morning - Base metals regain some lost ground on stimulus hopes - more

  Reports

  • U.S. Imports for Consumption of Stainless Steel Products, Monthly - pdf here
  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 88.38
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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
  • Technical forecast for Nickel - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Industrial Metals Drop as China Flash PMI Trails Estimate - more
  • LME Morning - Base metals weaken on soft manufacturing data, copper near 18-mth lows - more

  Reports

  • Outokumpu May Stainless Steel Surcharges - pdf here
  • AK Steel May Stainless Steel Surcharges - pdf here
  • Allegheny May Stainless Steel Surcharges - more
  • SMR GmbH Monthly Stainless Steel Briefing - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 88.53
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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
  • World Steel Output Ticks Up During March - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - London copper stays below $7,000 on global growth worries - more
  • Bloomberg metals morning - Copper Falls as Lower Imports Into China Stoke Demand Concern - more
  • LME Morning - Base metals consolidate, copper finds a little support from bargain hunters - more

  Reports

  • Oryx Stainless - Consumers are the ones profiting - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 88.75
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • Technical forecast for Nickel - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls on economic growth concerns, rising supply - more
  • Bloomberg metals morning - Copper Set for Weekly Drop Amid High Stockpiles, Economic Woes - more
  • LME Morning - Base metals in slight recovery, market expected to remain volatile - more

  Reports

  • SSINA Releases Market Data for January 2013 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 89.01
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Rand Weakens Second Day as Commodities Tumble on Growth Concern - more
  • LME Morning - Base metals remain under pressure, copper still below $7,000/t - more

  Reports

  • Chrg Metals April 2013 Report - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls as IMF report strengthens growth fears - more
  • LME Morning - Base metals retreat as correction hits buffers, copper below $7,200/t - more

  Reports

  • MetalWorld April 2013 - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 89.55
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metal morning - Copper gains on hopes of China demand recovery - more
  • Bloomberg metals morning - Copper Rises From Lowest in Almost 18 Months on Chinese Buying - more
  • LME Morning - Base metals in slight recovery, market expected to remain volatile - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 89.61
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Base Metals Extend Decline as China Data Trail Estimates - more
  • LME Morning - Metal tumble to multi-month lows, commodities suffer in continued cross-asset washout - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 89.80
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • China March commodity output slows, fans soft recovery fears - more
  • China's Steel Export in February - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Zinc Falls on Demand Concern Amid Struggle to Maintain Growth - more
  • LME Morning - Base metals tread water, copper awaits further clarity on Kennecott mine closure - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls for Second Day on Speculation Fed May Curb Stimulus - more
  • LME Morning - Base metals rally looks complete but nickel bucks downward trend - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 89.89
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • Iron Ore’s $250 Billion Glut Pressures Rio to Vale: Commodities - more
  • Is Canada still safe for metals mining? - more
  • UPD Skouries exposed: Gold Mining FB campaign ends in disaster with fake “Likes” - more
  • Tropical Pacific remains ENSO neutral - more

    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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper edges lower after two-week high; China data supports - more
  • Bloomberg metals morning - Copper Drops as China Exports Fuel Concern Supply to Top Demand - more
  • LME Morning - Base metals mostly firmer despite surprise Chinese trade deficit - more

  Reports

  • Damstahl Stainless Steel Report - April 2013 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper and Zinc Rise as China Inflation Eases Tightening Concern - more
  • LME Morning - Base metals in recovery mode, copper at 10-day high but caution remains - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.01
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (MF) Chinese Baosteel reduces stainless output on sluggish demand
  • Fast growth to continue, Xi says - more
  • China's inflation drops to 2.1% in March - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs Before Chilean Miners Give Start Date for Strike - more
  • LME Morning - Base metals firmer, copper helped by Chilean strike - more

  Reports

  • ThyssenKrupp Stainless USA April Stainless Steel Surcharge - more
  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.10
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • North American Stainless SS Surcharges - more
  • Allegheny Ludlum SS Surcharges - more
  • AK Steel SS Surcharges - more
  • European Debt Crisis Live - more
  • (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
  • First Nickel Completes Refinancing - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings on Chile Export Curbs and Signs Economies Struggle - more
  • LME Morning - Base metals steady in quiet premarket, caution prevails ahead of US jobs numbers - more

  Reports

  • Steel Founders' Society Of America April 2013 Casteel Reporter - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.18
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - LME copper hits 8-month low on demand worries - more
  • Bloomberg metals morning - Copper Reaches Eight-Month Low as Services Contraction Worsens - more
  • LME Morning - Copper's downward slide unsettles investors, metals listless in China's absence - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.18
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls for Fourth Day on Concern Demand Has Yet to Rebound - more
  • LME Morning - Base metals downbeat around multi-month lows, sentiment deteriorating - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.24
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • China takes on steel overcapacity - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls as weak growth data hits demand expectations - more
  • Bloomberg metals morning - Copper Swings in New York on Seven-Month Low and China Factories - more
  • LME Morning - Base metals recover from earlier lows, copper cancelled warrants jump - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.27
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Scrap Metals Pricing - more
  • American Recycler - April 2013 - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning -

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.32
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • 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

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