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Wednesday, April 30
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
$8.26/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and much quieter than nickel. Stockpiles
of nickel stored in LME licensed warehouses fell for a third consecutive
day on Tuesday and now total just under 276,850 tonnes. Monthly nickel stockpiles
will close lower than they started the month for the first time since last
April. Nickel closed the last day of March at $7.14/lb and looks to end up
well over $1/lb this month. Technical readings are mixed this morning, but
remain bullish. RSI numbers have slipped below the 70 reading, while the
Stochastic reading is over 95. The first has slipped out of overbought territory,
while the second remains firmly entrenched as overbought. Traders apparently
are buying the Relative Strength Index reading and are pushing prices higher
this morning, but so far, they appear to lack much enthusiasm. There is some
evidence that nickel may have finally found a top, but it's way too early
to call that. Whatever happens, one thing is for certain. Stainless steel
prices are on the rise and will continue to increase.
Average price of cash nickel so far this month - $7.86/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel options boom shows scale of bulls' ambitions : Andy Home - Nickel
is the only game in town right now among the base metals traded on the London
Metal Exchange (LME). -
more
Aluminum and
Nickel prices look toppy: Barclays - China fears continue to hound the market
triggering liquidation this week. Barclays does however expect the flow of
China-related data to improve going forward which suggests the balance of
risks for copper prices may now be shifting to the upside. -
more
Sharp
growth in stainless production? - Global: Substantial gains have been recorded
in stainless steel scrap prices during the course of April. The 304 grade
has seen a jump from US$ 1520-1570 per tonne to US$ 1710-1760 while the 316
quality has climbed from US$ 2030-2080 to US$ 2290-2340. -
more
Optimism
for New Caledonia SLN nickel plant - The French nickel mining group Eramet,
which has a major smelter in New Caledonia, says its sales fell again in
the first quarter of the year but since March prices have bounced back sharply.
-
more
Price of
S. African Charge Cr Settled for Europe in Apr-Jun, Up by Cents 4 - On April
23, Merafe Resources Limited, South Africa, a joint venture partner for Xstrata
Merafe announced on its home page that the benchmark price of South African
charge chrome meant for Europe to be shipped in April - June in 2014 has
been settled at US Cents 122.0 per lb. -
more
Former
Xstrata boss said to study BHP assets bid - Former Xstrata Plc Chief Executive
Officer Mick Davis is studying making a bid for BHP Billiton Ltd. thermal
coal and nickel assets after raising funds from investors including Abu
Dhabi’s sovereign wealth fund, according to a person with knowledge
of the matter. -
more
Vale N.L.
going to trial on illegal dumping allegation - A request made by lawyers
representing Vale Newfoundland and Labrador in a case of alleged illegal
dumping into Anaktalak Bay in Labrador has been denied. -
more
Talvivaara
Loss Widens in Fourth Quarter After Asset Writedowns - Talvivaara Mining
Co., the Finnish nickel miner undergoing restructuring, said its net loss
widened in the fourth quarter as it wrote down assets. -
more
MCC not
delivering promised benefits to local people - The government, through the
Mineral Resource Authority and Ramu NiCo mine, need to clarify the services
they will provide in the impacted areas.-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 29
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
$8.21/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses fell on Monday and now totals just over
the 277,000 tonne level. Regardless of what you might have read elsewhere,
nickel prices fell yesterday, after the US government released its Russian
sanction targets. The reason? Neither Russian Norilsk Nickel, or its primary owners,
made the list. And speaking of Norilsk owners, Vladimir Potanin
reportedly has remarked that nickel supply concerns are overdone (see below).
While we would like to think when the world's largest producer of nickel
hints the price may be too high, that the markets would listen, the timing
of his statement is highly suspicious, coming right after the Norilsk board
released the company purse strings for potential expansion plans. Not the
best time to be buying nickel companies, when the price looks like it has
no ceiling. Let's see - Norilsk may be shopping and BHP may be interested
in selling some assets. Will they talk? We show nickel's next line of resistance
at $8.78/lb, and while the traded price of nickel is showing some signs of
a momentary topping, the trend remains bullish. We show the stochastic reading
this morning at 100 - about as overbought as you can get.
Average price of cash nickel so far this month - $7.84/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Ontario's Ring Of Fire Gets $1 Billion From Provincial Government -
more
Posco Weighs Business Structure Change After Profit Plummets -
more
Iron Ore Drops to Seven-Week Low Amid China-Financing Concern -
more
(China) Toughest quarter in years for steel sector -
more
Norilsk
Billionaire CEO Says Nickel Supply Fears Overdone - Vladimir Potanin, the
billionaire who runs Russia’s OAO GMK Norilsk Nickel, said concerns
that supplies of the metal will be disrupted by sanctions against the country
over the crisis in Ukraine are overstated. -
more
Norilsk Owners Free CEO Potanin’s Hands on Spending $6.5 Billion -
more
Eramet
sees another loss in H1 despite nickel recovery - French mining and metals
group Eramet said on Tuesday it expected to make another operating loss in
the first half of 2014 despite a recovery in nickel prices driven by an
Indonesian ban on unprocessed mineral exports. -
more
Repairs
to Sudbury mines continue - Repairs continue to be made at two Vale mines
where production is being affected. An electrical malfunction April 22 at
the main hoist at Totten Mine resulted in the shutdown of that hoist. It
is expected to be up and running next week, said Vale spokeswoman Angie Robson.
-
more
Courtesy AISI
- In the week ending April 26, 2014, domestic raw steel production was 1,835,000
net tons while the capability utilization rate was 76.3 percent. Production
was 1,837,000 net tons in the week ending April 26, 2013, while the capability
utilization then was 76.7 percent. The current week production represents
a 0.1 percent decrease from the same period in the previous year. Production
for the week ending April 26, 2014 is up 1.5 percent from the previous week
ending April 19, 2014 when production was 1,808,000 net tons and the rate
of capability utilization was 75.2 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, April 28
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
$8.38/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading mostly higher, but quieter. Stockpiles
of nickel stored in LME licensed warehouses slipped on Friday, with totals
just over 277,600 tonnes. China media is reporting stockpiles of nickel ore
held at major ports slipped from 19.86 million tons on April 18th, to 19.29
million tons Friday. President Obama announced the US would impose further
sanctions on Russian officials and business', with Europe expected to follow
suit. Norilsk nickel exports are expected to be included in this new round
of sanctions. This news, while expected and already priced into the market,
has started the week by fanning the flame of optimism among nickel bulls,
and the market is higher this morning. This week could be volatile as the
market is way overdue for a correction, although the bull market seems to
be entrenched.
Average price of cash nickel so far this month - $7.81/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) According to data from the China Iron and Steel Association, Chinese
daily crude steel output for 11-20 April 2014 was 2.280 Mt, up from 2.152
Mt in the period 1-10 April. This compares with a daily output of 2.116 Mt
for the same ten days in April 2013.
Increasing interest in structural stainless -
pdf here
Indonesia’s
Nickel Ban Forces Japan to Curb Outputs -
video here
Dropping Nickel
production will push prices higher: BNP Paribas - Dropping global finished
nickel production will push prices higher, said BNP Paribas. -
more
Preparing
Strategies to Tackle the Japan-Indonesia Export Ban Conflict - The government
of Indonesia has been preparing strategies to face Japan's possible complaint
to the World Trade Organization (WTO) about Indonesia's recently introduced
export ban of mineral ore (UU Minerba No. 4 - 2009). -
more
RI anticipates Japan’s formal complaint to WTO -
more
E. Asian
Market of CR Austenitic Stainless Sheets Still Slow - The market of cold-rolled
(CR) austenitic stainless steel sheets in the East Asian region is showing
a slow reaction despite of a price hike of material nickel. Accordingly,
negotiations for June shipment is unfolding to lack in upsurge. -
more
Philippine's mineral production up slightly in 2013 - Philippine metallic
mineral production was up 0.26% in 2013 according to the country's mining
bureau, which released year-end results earlier this month. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, April 25
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
$8.28/lb
, down
from Thursday's close of $8.36/lb. Indicators at 7:00 am CST today show
3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading mixed and quiet. Stockpiles of nickel stored
in LME licensed warehouses rose for a second day on Thursday and now total
just over the 277,700 tonne level. Tensions in Ukraine continue to escalate,
and with this geopolitical issue weighing on inventory concerns brought on
by the export ban in Indonesia, yesterday's momentary hiatus in the nickel
bull run, was short lived. It is arguable that any potential sanction against
Norilsk has already been priced in, but this run has the momentum of feeding
on itself, and this little technical issue is being overlooked. Have a safe
and relaxing weekend.
Average price of cash nickel so far this month - $7.77/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
(BNA) The European benchmark price for high-carbon ferrochrome has been set
at US$1.22/lb for the second quarter, up 3.3% compared to US$1.18/lb in Q1.
(MNP) Mirabela Nickel has secured continued operations at its Santa Rita
mine in Brazil, with confirmation that critical investors in the company
will maintain their support.
Russia's Norilsk to raise 2013 dividend by 17 pct -
more
Kobe Steel crude steel output hits 6-yr high
- more
Anglo American rises on first quarter production beat -
more
China reveals nearly 60% of its groundwater is polluted -
more
Leader
on Solomons' Isabel says no to mining - Solomon Islands Minister of Culture
and Tourism says the people of Isabel Province are now opting for tourism
development over mining. -
more
Sumitomo
Donates for Disaster Assistance - The Japanese mining company, Sumitomo Metal
Mining Co, Ltd, SMM, has donated $700,000 to the Solomon Islands Government
Disaster Relief effort. -
more
Brazil court
rules in Vale's favor on foreign taxation - A Brazilian appeals court on
Thursday gave mining company Vale SA (VALE5.SA) a partial victory in its
22.3 billion real ($10 billion) dispute with Brazil's government over the
taxation of its foreign units. -
more
Shanghai
bourse plans to launch base metals index contract - The Shanghai Futures
Exchange (ShFE) plans to launch a futures contract on a base metals index
as part of steps to internationalise its business, Chairman Maijun Yang said
on Thursday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, April 23
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
$8.32/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses fell on Tuesday and now total just under
the 276,900 tonne level. The HSBC Holdings Plc and Markit Economics released
its preliminary monthly China Purchasing Managers’ index today and a
reading of 48.3 signals continued contraction in China factory production.
The same reading for the Eurozone was 54.0, signaling a month to month expansion
in manufacturing. Nickel, having jumped from trading at $16,500/tonne on
the 9th, to $18,000/tonne by the 17th, is overdue for a technical correction
and today's slip, could help overbought signals soften some. No reason for
stainless steel producers or consumers to get excited however, as all signals
remain bullish. We monitor two China stainless steel indexes, maintained
by China media sites, and each has jumped 6 and 9% respectively so far this
month. A third, with a history of being less dependable, is up 12%.
Average price of cash nickel so far this month - $7.70/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SO) Russia's stainless steel exports up 5.6% in February
Mwana Africa reports strong production results -
more
Barclays Plans to Exit Most Commodities Activities -
more
LME Week Asia kicks off with new commodities contracts in Hong Kong -
more
Vale nominated for inaugural community engagement award for being proactive
in wake of 2010 refinery and smelter shutdown announcement -
more
Anti-mining protests mark Earth Day celeb in Mindanao -
more
Chart of the
week: Nickel is due an upturn - Nickel prices have eclipsed $17,000 a tonne
for the first time since March 2012, says Neil Hume in the Financial Times.
-
more
Nickel miners see further upside - Nickel miners continued to enjoy solid
share price rises today after the price of the steel-making commodity climbed
to a 14-month high overnight. -
more
China ferrochrome
market waits for steelmakers' May prices - Domestic spot prices of high carbon
ferrochrome (50% basis Cr) in China were unchanged week-on-week at Yuan
6,600-6,800/mt (81-83.5 cents/lb) delivered with 17% VAT on Wednesday as
the market waited for May purchase prices from the country's major stainless
steelmakers. -
more
Indonesia
to make it even harder for foreign miners: Clyde Russell - Indonesia's decision
to start cancelling investment treaties with 62 countries has passed with
little comment, but the move may have a greater impact than the recent banning
of mineral ore exports. -
more
Production
of Stainless Steel Products in January 2014 Is 254,372 Tons = Up by 1% from
prior month, and decreased production of Cr-type is offset by Ni-type = The
Ministry of Economy, Trade and Industry announced the production volume of
stainless steel products (hot-rolled products) in January 2014 was 254,372
tons, which represented a slight increase of 0.6% versus the prior month
and an increase of 12.2% versus the year-earlier month. -
more
Nickel king
Potanin’s ex-wife appeal moved to May 28 - The Presnensky District Court
of Moscow moved to May 28 the hearing of an appeal filed by ex-wife of Nornickel
CEO Vladimir Potanin against the decision to grant divorce, RAPSI reports
from the courtroom. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 22
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
$8.11/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.15/lb
higher, with other
London traded base metals trading mixed and mostly slightly higher. Stockpiles
of nickel stored in LME licensed warehouses rose on Thursday and totaled
just over the 277,700 tonne level. China media is reporting nickel ore stockpiles
at the nations major ports totaled about 19.86 million tons on Friday, compared
with 20.01 million tons on April 11. Nickel is trading over the $18,000/tonne
level, which carries more psychological importance, than technical resistance.
Momentum remains positive, and while nickel is overbought and overdue for
a technical correction, traders continue to drive prices higher to capitalize
on supply concerns and technical signals. The situation in Ukraine continues
to draw metal analysts attention, with Norilsk an obvious target of any further
Russian export sanctions. We still contend that China could potentially take
any nickel that Europe would refuse to accept, but markets apparently are
not convinced. Besides, Russia typically does not ship for a four week period
in May every year due to seasonal flooding on the Yenisei River, so the timing
of a potential embargo, depending on when it starts and how long it lasts,
could turn out to have minimal impact on the market. In the mean time, nickel
continues its bullish run.
Average price of cash nickel so far this month - $7.65/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Barclays Commodities Weekly 4/17/14) In the case of nickel, while there
is a bullish fundamental supply-side story, we think prices may have run
ahead of themselves in the short term and see the risk of long liquidation.
LME stocks are high, total reported stocks-to-consumption the highest of
any base metal and Chinese ore port stocks still plentiful. That said, we
favour buying dips ahead of a more sustained move higher in H2 and potentially
significant upside in 2015.
(Danske Bank Commodities Update 4/16/14) Overall, we see an environment in
coming months which may support a further increase in the nickel price. ....
The nickel forward curve is currently flat, which reflects that some of the
factors which have pushed up the nickel price are likely to be temporary.
With nickel stocks-to-use close to 15% currently, the supply situation on
the nickel market is fundamentally sound, which weighs on prices further
out the curve; as does the outlook for oil prices, which are likely to trend
lower and weigh on nickel prices further out on the horizon.
(SSY) China produced 70.3 Mt of crude steel in March 2014, up 1.6 Mt year-on-year
and an all-time high, according to the National Bureau of Statistics. This
contrasts with China Iron and Steel Association data for March which showed
a daily output rate 1.6% lower than the November average.
(FAN) Statistics sourced by Umetal presented that 18 major stainless steel
mills produced 1.793 million tonnes of stainless steel in March, up 283,000
tonnes from the same period of last year... It is expected that China's stainless
steel production is likely to decrease in April because the small and medium
sized domestic manufacturers are planning to reduce production.
(Desjardins Commodity Trends) The price surge is mainly due to Indonesia’s
decision to stop exporting unprocessed ore—Indonesia is the world’s
leading producer of nickel ore. It remains to be seen whether Indonesia will
stick with this decision for a long time, and whether that will be enough
to get the world nickel market back to equilibrium.
(TriFid Research 4/17/14) Nickel prices rose, capping the longest rally more
than three years, as Indonesia’s ban on ore exports limits supplies,
triggering forecasts for a global shortfall. The ban alone is likely to shift
the nickel market from structural oversupply to a balanced outcome this year,
with sizable deficits probably over coming years. Stronger global growth
outlook is likely to drive nickel usage in stainless and non-stainless sectors.
The price rose to a 13-month high, while stockpiles monitored by the London
Metal Exchange posted the biggest weekly drop since June 2012. Tensions between
Ukraine and Russia, the home to OAO GMK Norilsk Nickel, the world’s
biggest producer of the refined metal, also may threaten shipments. This
year, nickel may top $19,000. The price has jumped 25 percent in 2014. Indonesia
banned shipments of raw ore in January.
(LGMI) According to data released by the China Iron & Steel Association,
the country’s daily crude steel output averaged at 2.15 million tonnes
in April 1 to 10 period, rising by 3.78% from 2.07 million tonnes in March
21 to 31 period.
(Wells Fargo Securities 4/13/14 - Casting Doubt on Industrial Metal Prices)
Given the more modest growth prospects for China, we expect overall metal
prices to remain flat to slightly lower over the course of the next year.
Over the course of this year, we see iron ore, aluminum, copper and nickel
prices declining, while tin and zinc prices are expected to increase slightly
and lead prices are expected to remain flat. With such strong ties to the
Chinese economy, we continue to see modest downside risks to industrial metal
prices.
(AIST) The bi-monthly SteelBenchmarker United States HRB spot price for 14
April 2014 surged 5.2% to US$749 per metric ton for the second consecutive
time.
Brown Brothers Harriman & Co. - The Cure for High Commodity Prices: Human
Ingenuity -
pdf here
China Nickel
Concentrate Imports Hit 19-Month High on Prices - Nickel concentrate imports
by China, the largest user of the metal, reached the highest in 19 months
as rising metal prices encouraged smelters to purchase the raw material from
overseas to boost output. -
more
China Nickel
Imports and Exports Data March 2014 - The General Administration of China
Customs released data of China's March imports and exports of nickel on April.
21(Unit: mt) -
more
Caraga
anti-mining advocates to join Earth Day commemoration - Hundreds are expected
to join the commemoration of Earth Day here tomorrow as residents in the
Caraga Region, in a forum today, expressed their opposition against environmental
destruction caused mainly by mining. -
more
BHPB's
Production of Ferroalloys and Nickel in Jan-Mar 2014 = Productions of manganese
ore, nickel and molybdenum are down from year-earlier period = On April 16,
BHP Billiton Limited (BHPB) announced its production results and sales volumes
both in the period from January to March in 2014 and in the 9 months of the
Company's fiscal year (July 2013 - March 2014). -
more
Russia’s
debt not a worry for Putin as firms have $100b at their disposal - Moscow:
Russian companies, facing $115 billion of debt due over the next 12 months,
will have the funds even as bond markets shut because of the Ukraine crisis,
according to Moody's Investors Service and Fitch Ratings. -
more
Courtesy AISI
- In the week ending April 19, 2014, domestic raw steel production was 1,808,000
net tons while the capability utilization rate was 75.2 percent. Production
was 1,837,000 net tons in the week ending April 19, 2013, while the capability
utilization then was 76.7 percent. The current week production represents
a 1.6 percent decrease from the same period in the previous year. Production
for the week ending April 19, 2014 is up 1.3 percent from the previous week
ending April 12, 2014 when production was 1,785,000 net tons and the rate
of capability utilization was 74.2 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, April 18
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
$8.11/lb
. The
London Metal Exchange is closed today for Good Friday and will be closed
Monday for Easter. Our next update will be on Tuesday, April 22nd. Have a
safe and relaxing weekend.
Average price of cash nickel so far this month - $7.65/lb
Thursday, April 17
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
$8.11/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading quietly and mixed. Stockpiles of nickel
stored in LME licensed warehouses rose slightly on Wednesday and now total
just over 277,400 tonnes. Stochastic and RSI numbers have come off this weeks
high readings, but remain well into overbought territory. Russia is meeting
with the US and Ukraine today, and while we are skeptical of any impact a
possible ban on importing Russia nickel would actually have, the market is
deeply concerned as Norilsk is named as a possible target of further sanctions.
LME stockpiles remain incredibly high, and while they are down for the month,
they remain higher than they were four weeks ago. Cash nickel prices had
risen 26% since the end of January by Tuesday of this week and the trend
remains bullish, and overdue for a serious price correction. The prior three
days trading has been very volatile as the bulls and bears struggle for control
of the market, with the bulls wining two of the three and retaining control
of momentum.
Average price of cash nickel so far this month - $7.61/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Triland Metals 4/15/14) It is not a coincidence that nickel option volatilities
also reached levels not seen for many years. For example, dec14 volatility
reached 29.50% (up from 25% only a few weeks ago) and demand was reported
for $20,000 and $20,400 December call options. Clearly the nickel market
is entering a new phase after several years of calm conditions in a low
volatility environment.
(SSY) According to the latest World Steel Dynamics SteelBenchmarker, the
world export price for hot rolled band edged up $1/t at the start of April,
to $551/t. Over the same period US HRB prices surged by $37/t, to 749/t,
the highest price since the end of April 2012.
(SMM) Prices for high-grade nickel pig iron (NPI) are bound to exceed 1,100
yuan ($178) this month on higher prices of nickel ores and the refined metal,
Shanghai Metals Market foresees.
350 Santa
Rita workers on forced leave – Mirabela - Embattled nickel miner Mirabela
Nickel has warned that it would impose forced leave on around 350 staff at
its Santa Rita mine, in Brazil, as it looked for funding to support ongoing
operations at the mine. -
more
ICRA
Indonesia: Analysis of Economic Impact of Raw Minerals Export Ban - ICRA
Indonesia released an analysis of the economic impact of the ban on export
of raw minerals. -
more
BHP Needs
Rebound Not Spinoffs Amid Metal Slump: Real M&A - BHP, which is wringing
out costs after a decade-long mining boom ended, said this month it’s
studying “structural options” to help narrow its focus to four
commodities including iron ore. -
more
China releases
first monthly nonferrous metals index - China released its first monthly
nonferrous metals climate index on Wednesday against a background of weak
demand, falling prices and industrial losses, in an attempt to have a bigger
say on commodity prices in the international market. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, April 16
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
$8.02/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.15/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses fell on Tuesday and now total just under the 277,250
tonne level. Yesterday's reported fall in nickel prices is somewhat misleading,
with prices climbing back into the black after markets officially closed.
Yesterday started with overbought nickel in a correction, but when news reached
traders that Russian troops had supposedly been spotted with boots on the
ground in Eastern Ukraine, nickel prices began to rise. That news appears
to be no more than a rumor, but traders are taking advantage of renewed momentum,
irregardless of technical signals still hinting the market is heavily overbought.
The trading range over the last two days has been rather broad, so market
knows it needs to slow down, but the bulls keep it climbing higher at a rapid
pace. News out of China about the slowdown in steel demand, even leading
to lowering of prices for May, show that the rise in the China stainless
steel index, has little to do with demand, and everything to do with rising
nickel.
Average price of cash nickel so far this month - $7.56/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MSCI) U.S. service center steel shipments in March 2014 increased by 7.2%
from March 2013. Steel product inventories decreased 3.6% from last month.
At the current shipping rate, this represents 2.2 months of supply in inventory.
China's plan for iron ore giants hard to make the grade -
more
Australia shares seen inching up; metal prices, China slowdown may cap -
more
China GDP growth slowest since 2012 but beats expectations -
more
China's March daily steel output at record, but set to slow -
more
China's Baosteel cuts main product prices for May -
more
(AK Steel Press
Release) AK Steel said today that it will increase prices for all of its
stainless steel products, effective with shipments on May 4, 2014. For the
following products, the increase will be achieved through a discount reduction
of two percentage points. -Commodity sheet and strip -Pipe and tube sheet
and strip -Specialty sheet and strip For all other stainless steel products,
including automotive exhaust sheet and strip, prices will be raised by $40
per ton. Surcharges for the broad range of stainless steel products that
AK Steel produces will remain in effect, and can be found under the Markets
and Products section of the company's web site at www.aksteel.com.
INSG Makes
Downward Adjustment on 2014 Ni Production to 1.94 Mil. Tons = Consumption
is expected to be 1.89 million tons, up from previous forecast = The regular
meeting of International Nickel Study Group (INSG) was held on April 4 and
3 in Lisbon, Portugal. -
more
Antam
speeds up Halmahera smelter project to this year - State-owned mining firm
PT Aneka Tambang (ANTM) may kick off construction of a ferronickel smelter
later this year in East Halmahera, North Maluku, as the commodity’s
global prices are improving. -
more
South
Africa more competitive than China in ferrochrome: IFL - South Africa should
be able to snatch back the top spot in global ferrochrome production from
China within five years thanks to cost-cutting, says one of Africa's biggest
producers, International Ferro Metals. -
more
Jail mine
CEOs: Sudbury forum - Jailing one or two chief executive officers of companies
where workers were killed on the job is all it would take to bring about
the societal change necessary to finish what United Steelworkers started
40 years ago in Elliot Lake, says a union leader. -
more
Clive
Palmer’s Refinery Given “Special Treatment” By Regulator -
Former executives of Clive Palmer’s nickel refinery have accused
Queensland’s environmental regulator of giving the resources tycoon
“special treatment” amidst concerns that toxic material could overflow
from the tailings dam into waterways. -
more
Madang government
confirms Ramu nickel acid pollution - Coastal villages near Ramu Nickel plant
site in Basamuk, Rai Coast, in Madang, are experiencing the effects of harmful
smoke from the mine. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 15
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
$8.07/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.15/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses fell on Monday and now total just over the 278,500
tonne level. We see today's drop in nickel's price to be little more than
a minor correction in an overbought market. Markets opened this morning with
a stochastic reading of 99.40, with any reading over 80 considered overbought.
A similar reading yesterday was ignored by traders, who were determined to
drive the price of nickel over the $8/lb level. Having achieved that, we
are seeing some profit taking in today's trading. The twenty day moving average
is still back at the $7.35/lb, giving readers some idea of how exuberant
nickel traders have become. Our China stainless steel index readings are
higher, but in general, only back to September 2013 levels, when nickel was
trading around $6.50/lb. This potentially reflects a serious lack of
demand.
Average price of cash nickel so far this month - $7.54/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Standard Bank 04/11/14) Perhaps the most interesting aspect of the rally
in the nickel price has, however, been the movement of the forward curve.
The nearby spreads remain in a sizeable contango, which is fairly unsurprising,
given the 278,844 mt of headline LME inventory sat in warehouses around the
globe. Cash/Dec-14, for instance, is valued at an $86 contango. The farther-dated
spreads have, however, tightened appreciably, with Dec-14/Dec-16 going from
$60 contango to a $20 backwardation yesterday. It is unclear if the farther-dated
spreads are picking up producer selling interest. The large long positions
put on in early March should see lending interest around the May and June
prompt dates. However, the nearby spreads still vulnerable to tightness should
some of the speculative length drop out of the market (owing to size of LME
warehouse inventory and the hedging of those stocks), and the latest LME
Futures Bandings data still show a dominant short for June-14 in the +40%
category. Therefore, the nickel forward curve looks set for an even bumpier
ride than normal over the coming weeks.
(Scotiabank Daily Edge 04/14/14) ...... after 3 months and no signs of the
ban being eased or watered down, the nickel market has begun to panic, with
prices moving up sharply. We note that alternative sources of high grade
nickel ore from the Philippines and New Caledonia appear limited. We have
revised our nickel supply/demand forecast assuming the export ban remains
in place (Exhibit 11). With a material reduction in NPI production now expected
to begin in 2015 after ore stocks in China are largely depleted this year,
we now forecast very material net market deficits to emerge beginning in
2015, which is likely to place significant upward pressure on prices. While
we now forecast 2014-2017 nickel prices of $7.66/lb, $9.00/lb, $10.00/lb,
and $10.00/lb, representing an average increase of 26.1%, we would not be
surprised to see prices significantly above these levels during this timeframe,
as the relatively small nickel market appears very susceptible to an upwards
squeeze by traders and financial players. We have seen this movie before
back in mid-2007, when nickel prices peaked at an unprecedented $24.50/lb,
although at that time, visible inventories were essentially wiped out. While
near record high LME inventories should provide some buffer to rising prices,
inventory hoarding by traders and financial players may accelerate prices
moving higher.
China's Tianjin bans new steel, cement plants -
report
Tough pollution rules may cut China's steelmaking capacity by 2pc -
more
Scotiabank
raises outlook for price of nickel - Scotiabank is raising its outlook for
the price of nickel — a key component in stainless steel — following
an Indonesian export ban on unprocessed ore that took effect earlier this
year. -
more
Market Prices
of CR Austenitic Stainless Sheets in Asia Not Rise - Amid a spreading observation
that the LME nickel price being supposed to be a benchmark of cold-rolled
(CR) austenitic stainless steel sheets might move toward $8 per pound, prices
of CR austenitic stainless sheets in the Asian region have not risen at all.
-
more
Toxic
spill fear prompts probe of Queensland nickel refinery - Australia's Queensland
state said it has run checks on a nickel refinery owned by mining and real
estate magnate Clive Palmer to determine if operating in heavy rains recently
caused it to spill hazardous waste into public waterways. -
more
Judge suggests
amended charge in illegal dumping case - An alleged case of illegal dumping
by Vale Newfoundland and Labrador into Anaktalak Bay, near the Voisey’s
Bay nickel mine site, is moving towards trial. -
more
Private
group says to buy idle MMG nickel mine in Australia - An Australian private
company has agreed to buy the long-idle Avebury nickel mine in Tasmania from
China's MMG Ltd for A$40 million ($37.65 million), saying operations were
again profitable as global nickel prices rise. -
more
Courtesy AISI
- In the week ending April 12, 2014, domestic raw steel production was 1,785,000
net tons while the capability utilization rate was 74.2 percent. Production
was 1,837,000 net tons in the week ending April 12, 2013, while the capability
utilization then was 76.7 percent. The current week production represents
a 2.8 percent decrease from the same period in the previous year. Production
for the week ending April 12, 2014 is up 1.3 percent from the previous week
ending April 5, 2014 when production was 1,762,000 net tons and the rate
of capability utilization was 73.3 percent.
Manetoali:
No mining in Isabel - Member of Parliament (MP) for Gao/Bugotu constituency
Samuel Manetoali says Isabel province would not allow mining operation on
the island. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, April 14
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
$7.93/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.20/lb
higher, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME licenses warehouses rose by its largest one day gain on Friday
since last September, and now totals just over the 279,950 tonne level. While
the increase was the largest recorded during a 24 hour period this year,
the gain was 36 tonnes shy of the outflow recorded last Wednesday and Thursday.
While we see minor resistance levels at $7.96/lb and $8.03/lb, let's
try to record a line of resistance that hasn't already been beaten, or will
be by the end of the day, and put next major resistance at $8.13/lb. The
situation in Ukraine is getting dangerous again, and while most world markets
are lower, nickel is being controlled by a bull that will not quit, and shows
no signs of slowing down. Stochastic and Relative Strength index numbers
show a market that ended last week in overbought territory, but traders are
riding the momentum higher. Looks like another volatile week ahead.
Average price of cash nickel so far this month - $7.48/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) The China Iron and Steel Association puts Chinese daily crude steel
output for 21-31 March at 2.073 Mt, down from 2.096 in the period 11-20 March.
Nickel Rises
to 14-Month High as Goldman Sachs See More Gains - Nickel reached the highest
level in almost 14 months in London after Goldman Sachs Group Inc. said this
year’s 28 percent advance is set to continue amid concern about limited
supply of the metal. -
more
Nickel's bull narrative accelerates; too fast?: Andy Home - On the London
Metal Exchange (LME) three-month nickel has just hit a one-year high of $17,188
per tonne. The stainless steel input is by some margin the best performer
so far this year among the base metals pack, up 22 percent since the start
of January. -
more
Nickel
miners up on price surge - Responding to an ASX query noting the stock's
share price had jumped from seven cents at the close on Friday to an intraday
high of 8.5 cents today, Poseidon said it could offer no other explanation
for the spike. -
more
China Steel
imports and exports in March 2014 up YoY - According to statistics from the
General Administration of Customs, China imported 1.25 million tonnes of
steel products in March 2014, up 1.6% or 20,000 tonnes from a year earlier.
-
more
Palmer-owned
mine attacks minister for critcising tailings dam overflow - Clive Palmer's
Queensland Nickel temporarily stopped work at its nickel factory 25 kilometres
north of Townsville on Monday. after it was badly affected by almost 300
mm of rain. -
more
Mining
Giant Anglo American Sues Venezuela over $600 Million Expropriation - With
this latest suit from one of the world's largest mining conglomerates, Venezuela
now has 28 cases pending against it at the World Bank's ICSID arbitration
forum – the most of any nation in the world. -
more
Ethiopia:
Brazilian Mining Giant to Pull Out of Ethiopia - The Brazilian mining giant,
Vale, which has been engaged in mineral exploration project in Southern Ethiopia
since 2011, is to pull out of the country by suspending its exploration project,
it was learnt. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, April 11
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
$7.77/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.16/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses fell again on Thursday and started today just
over the 276,900 tonne level. Stockpiles have now fallen every business day
in April except one. You know its going to be an interesting day when Bloomberg's
Reuters and the Wall Street Journal's morning metals update all talk about
nickel pricing in their titles. World equity markets were spooked by yesterday's
deep sell off of US markets, and this nervousness pulled Asian markets lower
overnight, has European markets trading lower this morning, and US Dow future
lower. This nervousness does not appear to be affecting nickel's bullish
run, which shows no signs of losing steam. It is difficult trying to figure
out next lines of resistance, when nickel has already broke thru the next
one before we can identify it. $7.94/lb looks like aline - but we are already
trading above that this morning, so who knows. Stochastic and RSI numbers
show nickel is overbought, but that does not yet appear to be concerning
traders, who can't seem to buy enough, fast enough. LME stockpiles are down
just over 7000 tonnes from March's last day, but over 5800 tonnes higher
than they ended February at. China stainless steel price indexes continue
to rise sharply. Have a restful and safe weekend.
Average price of cash nickel so far this month - $7.43/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SO) China's average daily crude steel output down slightly in late March
(FAN) Taiwan's stainless steel mills lifted the price for April because of
the soaring nickel price on the LME. However, the buying sentiment remained
low in the domestic market.
Australia Braces for Strongest Cyclone Since Yasi in 2011 -
more
London
nickel eyes ninth weekly gain in ten - London nickel eased back from
one year highs on Friday but was set to log its ninth weekly gain in 10 weeks,
as a ban on ore exports from Indonesia fuelled rising prices for the stainless
steel material. -
more
BHP polishes
up nickel unit as demerger talk swirls - Breakthroughs in the way BHP Billiton
processes nickel ores could help the world's biggest miner find a buyer for
its ailing Nickel West division in Australia. -
more
Glencore
Xstrata's 2014 Outlook for FeCr = Demand for SUS in Europe is anticipated
to be firm also in second and third quarters = Mr. Cassian Battistini - Glencore
International AG, Chrome Trader and Mr. Sean Edwards - Glencore South Africa
visited Japan. -
more
Cassini
raises $10m for nickel project - Cassini Resources has cashed in on its purchase
of a BHP nickel project by raising $10 million through a share placement.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, April 10
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
$7.59/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.20/lb
higher, with other London
traded base metals trading higher, but much quieter. Stockpiles of nickel
stored in LME licenses warehouses continue to fall, now totaling just over
the 278,800 tonne level. Our morning update was delayed this morning due
to internet problems, once again proving how dependent, and vulnerable, we
have become to a properly functioning internet - and the ability to connect
to it. With that said, the update is small and we apologize for that. Nickel
is now seemingly out of control and our next line fo resistance is at $7.63/lb.
If you use stainless steel as part of a larger operation, buy as much stainless
as you can before your distributor figures out their prices are going way.
up. If you are a distributor, it is not advisable to commit to any long term
price agreement these days unless you have some kind of addendum and pricing
adjustment clause. Based on the stainless steel indexes we follow overseas
and our own, stainless price increases are fixing to get nasty.
Average price of cash nickel so far this month - $7.38/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel
hits one-year high on shortage concerns - Nickel prices rose to their highest
level in more than a year on Thursday on concerns about shortages following
a ban on ore exports from Indonesia. -
more
Import of
SUS Products in February 2014 Is 19,951 Tons = Up by 3% from prior month,
and Chinese products decrease, whereas Taiwanese products increase grossly
= The import volume of stainless steel products in February 2014 which was
compiled by the Japan Iron and Steel Federation based on the trade statistics
prepared by the Ministry of Finance was 19,951 tons, up by 3.3% from 19,304
tons of the prior month. -
more
China March
commodity imports resilient despite slowing economy - China's imports of
iron ore and copper soared in March from the previous month in anticipation
of higher seasonal demand in the world's top metals consumer, though crude
oil shipments dropped after three months of high inbound volumes. -
more
China steel
demand still growing, but at slower pace - The slower growth of China's steel
demand in 2014 and 2015 was keeping with the the country's economic development
level as an industrial producer and reflected its change of economic model,
said a senior official of an international industry association on Wednesday.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, April 9
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
$7.46/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 very quietly. Stockpiles of nickel
stored in LME licensed warehouses fell sharply on Tuesday and now total just
over the 280,000 tonne level. Nickel fell slightly yesterday, but there is
no sign evident that the bull market is in any trouble. Technical signals
are still sending bullish signals, although stochastic numbers are sending
overbought signals, and RSI numbers are close to implying the same. Asian
markets ended higher overnight, while European markets are trading higher
this morning, and US Dow futures are also higher. FOMC meeting notes will
be released today and could give equity markets some momentum, and could
give the Dollar/Euro trades some direction as well. We have been posting
some forecasts this week, some from January, some more recent. The point
- no one knows and analysts may or may not be experts about metals trading,
but there is no such thing as an expert in crystal ball forecasting.
Average price of cash nickel so far this month - $7.37/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(BR) Nickel closed up 0.2 percent at $16,410 a tonne and tin was up 0.3 percent
at $23,225. The global nickel surplus will shrink to about 50,000 tonnes
this year on stronger-than-expected demand and as an export ban on nickel
ore by top producer Indonesia takes hold, the Lisbon-based International
Nickel Study Group (INSG) said. Indonesian curbs on tin exports are offering
a prop to Chinese producers facing slumping demand at home, underpinning
global prices and boosting the opportunity to ramp up overseas sales.
(IHS Commodity Price Watch-Global Outlook Jan 2014) "The Indonesian ore ban
presents the largest risk to nickel prices relative to any other nonferrous
metal,” IHS notes in its forecast. Still, pricing is expected to be
fairly calm throughout 2014 as suppliers draw down surpluses, while hitting
the $15,000 per metric ton level by year’s end.
(source)
(Word Bank Jan 2014 Commodity Markets Outlook) The overall metal price index
is expected to decline 2 percent in 2014 and 1 percent in 2015 as more supplies
come on board. However, this average masks variations among individual metals.
For example, the prices of aluminum, copper and nickel are expected to decline
the most in 2014, very little change is expected in iron ore and led, while
tin and zinc prices are expected to increase (1 and 5 percent, respectively).
-
source
(MF) Taiwan's Yusco, Tang Eng to raise stainless steel prices for April
(NFIB) The latest Small Business Optimism Index rose 2 points to 93.4, mostly
reversing the February decline but failing once again to breach the 95 ceiling
that has capped the Index during the recovery. -
more
U.S. Fastener Imports & Exports both Decline in February -
more
China nickel
pig iron plants likely to cut output as ore prices soar - Producers of an
alternative to refined nickel in China are expected to cut output as prices
for ore imports have nearly doubled since end-February in the wake of a ban
on shipments by top exporter Indonesia. -
more
Indonesia's
Nickel Ban to Affect Non-stainless Industries More Than Others - Prices of
nickel breached US$16,500/t last Friday, exceeding the price level recorded
12 months previously. -
more
Funeral
Thursday for millwright killed on job - A mass of Christian burial will be
held Thursday at 11 a.m. at St. Joseph Church in Chelmsford for the millwright
killed on the job at Vale's Copper Cliff Smelter Complex on Sunday. -
more
Talvivaara
faces up to 200 million in environmental costs - The ELY Centre delivered
its assessment at the University of Helsinki’s Ruralia Institute, where
it explained Talvivaara’s options for successful restructuring. -
more
worldsteel
Short Range Outlook 2014-2015 - The World Steel Association (worldsteel)
today released its Short Range Outlook (SRO) for 2014 and 2015. worldsteel
forecasts that global apparent steel use will increase by 3.1% to 1,527 Mt
in 2014 following growth of 3.6% in 2013. In 2015, it is forecast that world
steel demand will grow further by 3.3% and will reach 1,576 Mt. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 8
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
$7.49/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with most other
London traded base metals trading lower. Stockpiles of nickel stored in LME
approved warehouses rose on Monday and now total just shy of the 281,600
tonne level. Asian markets ended higher overnight, while European markets
are trading lower, US Dow futures are also lower this morning. Technical
signals remain positive, although not as strong as in the past. The RSI is
wavering near the overbought level. China media reports that nickel ore
stockpiles in that country fell 1.65% from March 28 thru April 8, from 20.58
million tons to 20.24. Stainless steel prices in that country also continue
to rise, although it is difficult to determine if this is all due to the
increase in the price of nickel, or if demand is also increasing helping
nudge up pricing.
Average price of cash nickel so far this month - $7.32/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Deutsche Bank Commodities Quarterly 1 April 2014) So far a “mean
reversion” strategy in the base metals looks to be very successful with
nickel and aluminium (metals with the weakest fundamentals and worst performers
in 2013) being the best performers YTD. If the Indonesian ban holds, we think
the nickel market will be in a modest deficit this year, but only move to
a significant deficit next year. In our view, the Nickel price has moved
ahead of current fundamentals and could give up some of its gains in Q2 and
Q3...... We estimate that Chinese laterite stocks will keep Chinese NPI
production going for 6 – 8 months, resulting in a modest Nickel market
deficit of c30kt this year. However, if the ban continues into 2015 (and
our base case now assumes at least 6 months), the market will register at
least a 150kt deficit. This deficit will start to deplete inventories and
lead to prices averaging USD17,000/t in the year, with spikes close to
USD20,000/t in our view.
(Sucden Quarterly Metals Report Jan 22) For the first quarter we see nickel
trading within a range of $13,250-$15,000 per tonne, with prices averaging
$14,000. However further out into 2014, there might be production restraint
but it will be countered by the ramp-up of new production outside of China
and greater availability of metal in LME-bonded warehouses. So we feel prices
will remain suppressed in 2014, averaging $14,500.
The Glencore X Factor: Who Will Be Mining’s Next Top Chairman? -
more
LME Ni
Average Price in March Goes up by 10% from Prior Month = Price rose above
US$16,000 per ton within the month and thereafter got weakened = LME monthly
average price in March 2014 was <> Cash seller: US$15,659.76 per ton
(US$7.103 per lb) and <> 3-month seller: US$15,701.00 per ton (US$7.122
per lb). -
more
Sudbury
death reinforces need for mining review - The death of an industrial mechanic
Sunday at Vale's Copper Cliff Smelter Complex reinforces the importance of
the comprehensive Mining Health, Safety and Prevention Review being conducted
in Ontario, says the review chair. -
more
Talvivaara
faces up to 200 million in environmental costs - The Kainuu Centre for Economic
Development, Transport and the Environment (ELY Centre) has made its first
official assessment of the Talvivaara mine’s required environmental
investments. -
more
Minerals
‘aren’t going anywhere’ - Given the depressed state of metal
prices, they could be forgiven for feeling a little morose. -
more
Courtesy AISI
- In the week ending April 5, 2014, domestic raw steel production was 1,762,000
net tons while the capability utilization rate was 73.3 percent. Production
was 1,834,000 net tons in the week ending April 5, 2013, while the capability
utilization then was 76.6 percent. The current week production represents
a 3.9 percent decrease from the same period in the previous year. Production
for the week ending April 5, 2014 is down 3.2 percent from the previous week
ending March 29, 2014 when production was 1,820,000 net tons and the rate
of capability utilization was 75.7 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, April 7
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
$7.44/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
licensed warehouses continued to slip on Friday, and now total just over
281,000 tonnes. That's over 5500 tonnes lower than a week and a half ago,
but still 10,000 tonnes greater than five weeks ago. Asian equity markets
closed slightly higher overnight, but European markets are trading lower,
with US Dow futures sharply lower, following a steep drop on Friday. Nickel
is getting a boost from a stronger Euro today, but considering the Euro is
trading lower than it did in mid March , that's mostly irrelevant. LME stockpiles
are lower , and a rebel raid on a Philippine mine could affect mine production
there. Technical signals remain mostly positive, and momentum is most surely
positive. Buckle up. It could be another rough week for stainless steel
producers.
Average price of cash nickel so far this month - $7.32/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel surplus
to shrink to 50,000T in 2014 on higher demand -INSG - The global nickel surplus
will shrink to about 50,000 tonnes this year on stronger than expected demand
and as an export ban on nickel ore by top producer Indonesia takes hold,
the Lisbon-based International Nickel Study Group (INSG) said. -
more
Russia's
Norilsk sees nickel price recovery in 2014 - Norilsk Nickel, the world's
biggest producer of nickel and palladium, sees nickel prices recovering this
year, it said on Monday after reporting a 64 percent drop in net profits
due to write-offs. -
more
NPA
rebels raid mining firm in Southern Philippines – New People’s
Army rebels on Saturday raided a mining firm in the southern Philippine province
of Agusan del Norte, reports said. -
more
Japanese
Austenitic Stainless Sheet Mills Cease Offers - The Japanese mills of austenitic
stainless steel sheets intend to proceed with negotiations on austenitic
stainless sheets for Asia by an increase in prices to $2,800 CFR for June
shipment. Some mills ceased their offers from last week through this week
and are in a state to watch the situation. -
more
U.S. exchanges
may show LME a way out of its warehouse dilemma - The way U.S. commodities
exchanges are dealing with warehouses could offer a template for the London
Metal Exchange (LME) to reform its chronically logjammed storage system,
the backbone of the world's biggest metals marketplace. -
more
Why
Indonesia’s nickel ore export ban affects dry bulk shippers - Indonesia
is the largest economy in Southeast Asia and also one of the largest emerging
markets in the world. -
more
New
Caledonia, Eramet and Vale sign nickel exploration agreement - France's Eramet
said Monday it had signed a framework agreement on Saturday with Vale Canada
and New Caledonia's south province for the exploration, study and benefaction
of nickel deposits in south New Caledonia. -
more
Philippines
bishops oppose mining firm's operations in Mindanao – Filipino
Catholic bishops have written President Benigno Aquino and pleaded to stop
the $5.9 billion Tampakan mining project by global miner Xstrata‘s
Sagittarius in the southern Philippine province of South Cotabato saying
the gold and copper project will dislocated thousands of mostly indigenous
tribesmen from their ancestral domain. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, April 4
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 $.10/lb
higher, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME licensed warehouses fell for s sixth consecutive session on Thursday
and now total just shy of the 281,950 tonne level. Nickel is trading above
March highs and if it closes in the black today, it will have closed every
day this week, higher than it opened. Next technical point of resistance
we see is around $7.76/lb. World markets are betting on a strong US March
jobs report, to be issued later this morning, and European equity markets
are trading higher, with US Dow futures also currently higher. After taking
a break last week, nickel renewed its growth for the first week of April.
We hope you continue to join us as we learn what week two will bring. Have
a safe and relaxing weekend.
Average price of cash nickel so far this month - $7.27/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Edward Meir INTL FCStone April 2014 Report - But whatever happens going forward,
we should note that the rally in nickel this year is an artificially-induced
move and as such, it has the potential to collapse under its own weight.
The more relevant question is when; we think it will be later rather than
sooner and accordingly, we expect to see a $15,400-$16,400 range prevailing
at least through April.
(SSY) The Chinese government has declared its intention to implement measures
designed to stimulate economic activity and has reiterated its commitment
to a 2014 GDP growth target of 7.5%. The stimulus measures will include:
greater investment in railways in central and western areas of the country,
tax breaks for small businesses and increased financing for the construction
of low-cost housing.
Why nickel
prices are surging - Nickel prices have surged nearly seven per cent in the
past month with fears over supplies from Russia adding to Indonesian curbs
on shipments of unprocessed ores. -
more
Japan
Turns to World Trade Organization over Indonesia's Mineral Export Ban - The
government of Japan is most likely to file a complaint to the World Trade
Organization (WTO) about Indonesia's recently introduced ban on the export
of mineral ore (UU Minerba No. 4 - 2009).
- more
Metals
warehousers to tread warily despite UK court ruling - Big warehouse owners,
under regulatory scrutiny for tying up huge amounts of aluminium in profitable
storage, are unlikely to risk seeking a fresh influx of metal even though
a UK court ruling last week set back attempts to rein them in. -
more
Australia's
2013-14 nickel output to fall 11% on year to 215,000 mt: BREE - Australia's
nickel mine production is set to fall 11% year on year to 215,000 mt in the
current 2013-14 fiscal year and refined nickel production to rise 2.2% to
138,000 mt, the country's Bureau of Resources and Energy Economics forecast
in its March quarterly report this week. -
more
China’s
miners to step up push overseas - Chinese mining companies will be on the
prowl this year to acquire more firms or forge joint ventures in regions
ranging from Africa to Latin America to Southeast Asia as they try to feed
the country’s voracious appetite for the iron ore and precious and
industrial metals vital for an economy that has slowed but is still expanding
at a healthy clip. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, April 3
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
$7.34/lb. Indicators at
6:50 am CST today show 3 month nickel trading
unchanged, with other
base metals mixed and mostly quiet. Stockpiles of nickel fell for the fifth
consecutive session and now total just over the 282,900 tonne level. Cancelled
warrants continue to total over the 46% level each day. Nickel closed back
above the $16,000 tonne level for a second consecutive session yesterday
and traders will now target March's high of $7.36/lb as resistance. The $16,000
tonne level proved a formidable barrier to March's bullish run and it will
be interesting to see if it can keep renewed momentum in check. Nickel has
closed higher than it opened for three straight days, while technical signals
remain mixed, but mostly positive. Nickel was the clear winner in the first
quarter of 2014 amongst LME traded base metals, after being the base metals
price loser of 2013. How will it rank in the second quarter? Stay tuned.
Average price of cash nickel so far this month - $7.24/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China steel, iron ore struggle; railway aid impact seen limited -
more
Russia Would
Divert Nickel Sales to China on Sanctions - Nickel from Russia, the world’s
second-largest producer of the refined metal, would be shipped to China in
the event of U.S. and European Union trade sanctions, according to a survey
by Bloomberg News. -
more
Stainless
steel manufactures raises product prices cautiously - Fears cheap imports
from China, increasing Chinese labour cost cushions manufacturing cost there,
Indian producers may raise price at par level -
more
North American
Stainless - For the month of April 2014, North American Stainless will maintain
the fuel surcharge at 34% for stainless flat and long products. The surcharge
rate is considered a maximum level for April and will be reviewed monthly.
Dominican government ‘discards’ Xstrata Nickel’s planned mine
- Justice and Transparency Foundation (FJT) president Trajano Vidal Potentini
on Wednesday said the Environment Ministry discarded Xstrata Nickel
Falcondo’s planned mine at Loma Miranda (central), prior to the hearing
at the Superior Arbitration Court (TSA). -
more
Catholic Church reiterates rebuke of Xstrata Nickel’s planned mine -
more
US debt
bigger worry than China, says mining giant Vale - Brazilian mining giant
Vale has dismissed concerns about the health of the Chinese economy, saying
that debt levels in the United States are of greater concern. -
more
New
Caledonia province in new nickel venture - New Caledonia's southern province
has approved a deal with two major nickel companies to explore a huge ore
deposit. -
more
BHP to
sell West Musgrave nickel project - Mining giant BHP Billiton has agreed
to sell its West Musgrave nickel project in Western Australia to Cassini
Resources. -
more
Ramu mine
‘plagued by technical and financial problems’ says Chairman - The
world market price is unfavorable to the Ramu NiCo project, which is plagued
by technical and financial problems, board chairman and president Zhao Shimin
said. Despite that, he said the company was determined to push production
to 70% of its plant capacity this year with help from stakeholders. -
more
Sinosteel
Zimbabwe Unit Said to Fire Managers, Close Mine Stores - Sinosteel’s
Zimbabwe unit, Zimasco (Pvt) Ltd., has fired almost all of its managers and
workers and closed supply stores at its Mutorashanga mine after equipment
meant to refine chrome ore fines failed to work, three managers at the operation
said. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, April 2
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
$7.27/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses fell for a fourth consecutive session on Tuesday
and now totals just under the 283,700 tonne level. Nickel closed over the
$16,000 tonne level yesterday, after falling below that level mid last week.
Technical signals are mixed, showing there is room to run either way. But
there is no reason to believe the bull has run its course and while momentum
is lagging, it is not gone. Stainless steel prices are on the rise, with
more price increases to come.
Average price of cash nickel so far this month - $7.16/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
U.S. factory activity picks up, more gains eyed as winter fades -
more
Natixis
metals review for 2014H1 - 2013 was another difficult year for commodities,
with total return indices trading in a narrow range to end the year down
between 1.2 per cent (S&P-GSCI) and 9.5 per cent DJ-UBS. -
more
BHP possibly
considering a demerger - BHP Billiton could be planning to set up a separate
$20 billion company comprising its aluminium, bauxite and nickel assets.
-
more
Ramu mine
partners meet to discuss project failings - RAMU NiCo Project’s 19th
Joint Venture Meeting was successfully held in Madang on Feb 27th and attended
by the management team from Kurumbukari Mine, Basamuk Refinery and Madang
Base, excluding Beijing. -
more
Premier
Campbell Newman launches parliamentary attack on Clive Palmer - Queensland
Premier Campbell Newman has launched an attack on Clive Palmer in Parliament,
accusing him of attempting to "buy governments". -
more
Clive Palmer backs down, pays multi-million-dollar carbon tax bill -
more
Australia:
Gladstone dredging "could have killed dozens of sea turtles" - The Guardian
newspaper in the UK reports that the controversial expansion of Gladstone
harbour "probably killed dozens of sea turtles" according to a report that
contradicts the Queensland government’s analysis of the deaths. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, April 1
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
$7.21/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.04/lb
lower, with most
other London traded base metals trading lower as well. Stockpiles of nickel
stored in LME licensed warehouses fell on Monday and now total just over
the 283,950 tonnes. While the analysts like to explain the increase in nickel
prices on multiple speculations, it all comes down to the ban of Indonesian
laterite ore and the effect that ban will have on the production of the so
called Chinese pig nickel. Here are some numbers for your consideration.
Chinese stockpiles of laterite ore. (One year ago) March 29, 2013 -
21.8 million tonnes. (Beginning of 2014) December 31, 2013 - 25.35 million
tonnes. (One month ago) March 3, 2014 - 22.83 million tonnes. (Yesterday)
March 31, 2014 - 20.58 million tonnes. Chinese laterite nickel price (Indonesia
2% Fe 12-18% benchmark - (One year ago) April 1, 2013 - 54-56 USD/wet metric
tonne (Beginning of 2014) Dec 31, 2013 - 41-43 USD/wmt (Yesterday) March
31, 2013 - 41-43 USD/wmt. We will continue to update these inventory numbers
every few weeks, so you can decide for yourself the effect the ban is having
on China stockpiles. Nickel continues to tread water just shy of the
$16,000/tonne level and is trading under the 10 day moving average. Markets
traded higher yesterday, with analysts crediting Fed Chairwoman Janet Yellen's
comments that the Fed would continue pumping up the US economy for sometime
because it was too weak to stand on its own. Ok sorry - that's not exactly
what she said but claiming the stimulus was necessary, she was meaning the
US economy needed help to survive. How long we can continue to manipulate
the economy and not have it come back to bite us, is the great roulette wheel
we play daily.
Average price of cash nickel so far this month - $7.10/lb (March average)
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Steep
Rise In Nickel Costs Boosts Stainless Steel - The forecast upturn in demand
for stainless steel did not materialize during the first quarter of 2014.
- more
China PMI
not that strong, but may be good for commodities: Clyde Russell - China's
official Purchasing Managers' Index for March probably isn't as strong as
it looks, but that's likely not a bad thing for commodity demand in the next
few months. -
more
Stainless
Crude Steel Production by Major SUS Mills in Feb. 258,551 Tons = Down by
16.8% from prior month and NSSMC, Yawata Works curtails production drastically
= The stainless crude steel production by 7 major stainless steel mills in
February 2014 was 258,551 tons, down by 16.8% from 310,644 tons of the prior
month. -
more
Experts say
China steelmakers are in toughest situation - China's steel industry is in
its toughest year in two decades, with falling prices, weak demand and
overcapacity leading to mergers and acquisitions, industry experts said.
-
more
BHP Billiton
eyes possible £11bn mining demerger - BHP Billiton has signalled the
possible demerger of mining assets worth an estimated £11bn as the company
sharpens its focus on its core businesses. -
more
Royal Nickel
Welcomes Construction of World's First Processing Plant Capable of Producing
Stainless Steel Directly Utilizing Nickel Sulphide Concentrate - Royal Nickel
Corporation is pleased to report that Tsingshan Holding Group ("Tsingshan"),
a party with whom RNC entered a strategic alliance in March 2013, is currently
constructing the world's first integrated nickel pig iron ("NPI") plant to
utilize nickel sulphide concentrate as part of the stainless steel production
process. The plant is expected to begin operation within this year. -
more
Courtesy AISI
- In the week ending March 29, 2014, domestic raw steel production was 1,820,000
net tons while the capability utilization rate was 75.7 percent. Production
was 1,827,000 net tons in the week ending March 29, 2013, while the capability
utilization then was 76.2 percent. The current week production represents
a 0.4 percent decrease from the same period in the previous year. Production
for the week ending March 29, 2014 is down 3.4 percent from the previous
week ending March 22, 2014 when production was 1,885,000 net tons and the
rate of capability utilization was 78.4 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
Reports
Commodity/Economic Comments
Nickel options boom shows scale of bulls' ambitions : Andy Home - Nickel
is the only game in town right now among the base metals traded on the London
Metal Exchange (LME). -
Aluminum and
Nickel prices look toppy: Barclays - China fears continue to hound the market
triggering liquidation this week. Barclays does however expect the flow of
China-related data to improve going forward which suggests the balance of
risks for copper prices may now be shifting to the upside. -
Sharp
growth in stainless production? - Global: Substantial gains have been recorded
in stainless steel scrap prices during the course of April. The 304 grade
has seen a jump from US$ 1520-1570 per tonne to US$ 1710-1760 while the 316
quality has climbed from US$ 2030-2080 to US$ 2290-2340. -
Optimism
for New Caledonia SLN nickel plant - The French nickel mining group Eramet,
which has a major smelter in New Caledonia, says its sales fell again in
the first quarter of the year but since March prices have bounced back sharply.
-
Price of
S. African Charge Cr Settled for Europe in Apr-Jun, Up by Cents 4 - On April
23, Merafe Resources Limited, South Africa, a joint venture partner for Xstrata
Merafe announced on its home page that the benchmark price of South African
charge chrome meant for Europe to be shipped in April - June in 2014 has
been settled at US Cents 122.0 per lb. -
Former
Xstrata boss said to study BHP assets bid - Former Xstrata Plc Chief Executive
Officer Mick Davis is studying making a bid for BHP Billiton Ltd. thermal
coal and nickel assets after raising funds from investors including Abu
Dhabi’s sovereign wealth fund, according to a person with knowledge
of the matter. -
Vale N.L.
going to trial on illegal dumping allegation - A request made by lawyers
representing Vale Newfoundland and Labrador in a case of alleged illegal
dumping into Anaktalak Bay in Labrador has been denied. -
Talvivaara
Loss Widens in Fourth Quarter After Asset Writedowns - Talvivaara Mining
Co., the Finnish nickel miner undergoing restructuring, said its net loss
widened in the fourth quarter as it wrote down assets. -
MCC not
delivering promised benefits to local people - The government, through the
Mineral Resource Authority and Ramu NiCo mine, need to clarify the services
they will provide in the impacted areas.-
Morning Nickel
Price Statistics & Figures
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
Norilsk
Billionaire CEO Says Nickel Supply Fears Overdone - Vladimir Potanin, the
billionaire who runs Russia’s OAO GMK Norilsk Nickel, said concerns
that supplies of the metal will be disrupted by sanctions against the country
over the crisis in Ukraine are overstated. -
Courtesy AISI
- In the week ending April 26, 2014, domestic raw steel production was 1,835,000
net tons while the capability utilization rate was 76.3 percent. Production
was 1,837,000 net tons in the week ending April 26, 2013, while the capability
utilization then was 76.7 percent. The current week production represents
a 0.1 percent decrease from the same period in the previous year. Production
for the week ending April 26, 2014 is up 1.5 percent from the previous week
ending April 19, 2014 when production was 1,808,000 net tons and the rate
of capability utilization was 75.2 percent.
Indonesia’s
Nickel Ban Forces Japan to Curb Outputs -
Preparing
Strategies to Tackle the Japan-Indonesia Export Ban Conflict - The government
of Indonesia has been preparing strategies to face Japan's possible complaint
to the World Trade Organization (WTO) about Indonesia's recently introduced
export ban of mineral ore (UU Minerba No. 4 - 2009). -
E. Asian
Market of CR Austenitic Stainless Sheets Still Slow - The market of cold-rolled
(CR) austenitic stainless steel sheets in the East Asian region is showing
a slow reaction despite of a price hike of material nickel. Accordingly,
negotiations for June shipment is unfolding to lack in upsurge. -
Philippine's mineral production up slightly in 2013 - Philippine metallic
mineral production was up 0.26% in 2013 according to the country's mining
bureau, which released year-end results earlier this month. -
Leader
on Solomons' Isabel says no to mining - Solomon Islands Minister of Culture
and Tourism says the people of Isabel Province are now opting for tourism
development over mining. -
Brazil court
rules in Vale's favor on foreign taxation - A Brazilian appeals court on
Thursday gave mining company Vale SA (VALE5.SA) a partial victory in its
22.3 billion real ($10 billion) dispute with Brazil's government over the
taxation of its foreign units. -
Shanghai
bourse plans to launch base metals index contract - The Shanghai Futures
Exchange (ShFE) plans to launch a futures contract on a base metals index
as part of steps to internationalise its business, Chairman Maijun Yang said
on Thursday. -
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.15/lb
Daily Nickel/Stainless Steel
Briefing (8:00 AM CST
is 1PM in London)
. The
London Metal Exchange is closed today for Good Friday and will be closed
Monday for Easter. Our next update will be on Tuesday, April 22nd. Have a
safe and relaxing weekend.
INSG Makes
Downward Adjustment on 2014 Ni Production to 1.94 Mil. Tons = Consumption
is expected to be 1.89 million tons, up from previous forecast = The regular
meeting of International Nickel Study Group (INSG) was held on April 4 and
3 in Lisbon, Portugal. -
South
Africa more competitive than China in ferrochrome: IFL - South Africa should
be able to snatch back the top spot in global ferrochrome production from
China within five years thanks to cost-cutting, says one of Africa's biggest
producers, International Ferro Metals. -
Mining
Giant Anglo American Sues Venezuela over $600 Million Expropriation - With
this latest suit from one of the world's largest mining conglomerates, Venezuela
now has 28 cases pending against it at the World Bank's ICSID arbitration
forum – the most of any nation in the world. -
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.20/lb
Stainless
steel manufactures raises product prices cautiously - Fears cheap imports
from China, increasing Chinese labour cost cushions manufacturing cost there,
Indian producers may raise price at par level -
Dominican government ‘discards’ Xstrata Nickel’s planned mine
- Justice and Transparency Foundation (FJT) president Trajano Vidal Potentini
on Wednesday said the Environment Ministry discarded Xstrata Nickel
Falcondo’s planned mine at Loma Miranda (central), prior to the hearing
at the Superior Arbitration Court (TSA). -
Sinosteel
Zimbabwe Unit Said to Fire Managers, Close Mine Stores - Sinosteel’s
Zimbabwe unit, Zimasco (Pvt) Ltd., has fired almost all of its managers and
workers and closed supply stores at its Mutorashanga mine after equipment
meant to refine chrome ore fines failed to work, three managers at the operation
said. -
