This page is archived news covering the period of April 2014
If you are looking for current daily market news, please visit here.

LME nickel prices and news

Stainless Steel News and Nickel Prices

Free comprehensive information on worldwide nickel market pricing, stainless steel prices and metals analysis and forecasts


Daily Nickel Market News & Stainless Steel Prices

Kiva - loans that change lives

Nickel Prices and Stainless Steel Bolts

Stainless Steel News and Prices

    Cell phone and tablet users - smaller version of this page - (here)

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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Emerging Stocks Fall Before Fed as Commodities Decline - more
  • Reuters metals morning - Nickel set for biggest monthly gain in 19 on supply fears - more

  Reports

  • Dacapo Stainless - Price increases expected - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 86.93
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • Reuters metals morning - Copper rises on China shortfall, traders eye U.S. data - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 86.32
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • New US/Russia sanction targets - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel at Highest in Almost 15 Months as Sanctions Threat Looms - more
  • Reuters metals morning - Nickel hits 15-month high on Indonesia ban, copper gains - more

  Reports

  • AK Steel May stainless steel surcharge - pdf here
  • Allegheny May stainless steel surcharge - more
  • US Imports of Stainless Steel Mill Products - more
  • AIIS March Steel imports - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • HKEx commodity push faces uphill battle - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Extends Drop to Pare Weekly Gain as Rally Seen Excessive - more
  • Reuters metals morning - Copper dips on Ukraine tension after hitting seven-week high - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 85.78
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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
  • Fracking ‘could cause cancer’ - 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Drops for First Time in Four Days on China Data - more
  • Reuters metals morning - Nickel climbs to 14-1/2 month high on tight supplies - more

  Reports

  • Great American Group April 2014 Metals Monitor - pdf here
  • Oryx Stainless - We need more rats than elephants - more
  • March 2014 Crude Steel Production - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.13
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Extends Gains to 14-Month High on Supply Concern - more
  • Reuters metals morning - Nickel hits 14-month peak on tight supply as LME reopens - more

  Reports

  • Damstahl Stainless Steel Report - April 2014 - pdf here
  • AK Steel May Stainless Steel Surcharge - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.97
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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
  • Barclays to exit most commodities trading - more
  • El Nino Forecast by Australia as All Models Predict Onset - more
  • El Niño likely in 2014 - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Reaches 14-Month High on Indonesia, Russia Supply Concern - more
  • Reuters metals morning - Nickel ploughs higher, may be vulnerable to correction - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.93
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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.
  • Taiwan Fastener Review for 2013 - more
  • 16.1 percent of Chinese soil is polluted - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Gains From 3-Wk Low as China GDP Meets Expectation - more
  • Reuters metals morning - Copper firms on China GDP data, nickel eases - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.78
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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.
  • Sudbury mine deal worth $1.5 million - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Falls From 14-Month High as Rally Seen Excessive - more
  • Reuters metals morning - Nickel falls from 14-month peak; China worry hits copper - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.29
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Rises to 14-Month High on Indonesia Ban, Ukraine - more
  • Reuters metals morning - Nickel hits 14-mth high on ore export ban - more

  Reports

  • UBS Global Miner’s Price Review - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.87
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Poised for Second Weekly Gain on Supply Concerns - more
  • Reuters metals morning - LME nickel hits 13-month high, eyes 9th weekly gain in ten - more
  • WSJ metals morning - Nickel Hits 14-Month High And Pulls Base Metals Higher - more

  Reports

  • Oryx - World's third largest stainless steel scrap trading company optimistic about 2014 - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.55
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises Before China Data as Fed Eases Rate Concern - more
  • Reuters metals morning -

  Reports

  • Desjardins Commodity Trends - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.28
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Iron-Ore Bear View of China Inventory Seen Overdone by Macquarie - more
  • No forceful stimulus to lift economy in near term, says premier Li Keqiang - more
  • China's exports down 6.6% in March - more
  • (MF) Finnish Outokumpu plans to cut 1,000 jobs

     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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls Amid Concern About Potential China Defaults - more
  • WSJ metals morning - LME Metals Placid Ahead of China Data and FOMC Minutes - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.10
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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
  • Papua kicks off Indonesia elections - 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Set for Longest Rally Since 2010 on Indonesia Ban - more
  • Reuters metals morning - Copper pops to one-week high on China hopes, aluminium gains - more
  • WSJ metals morning - LME Metals Prices Mixed As Traders Await Fresh Impetus - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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
  • World Bank pares 2014 outlook - more
  • Manufacturing Census Report: No One Thought It Would Be Pretty - more
  • Cyclone in Coral Sea could threaten north Australia by Friday - more
  • El Niño likely to develop in winter - 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Extends Weekly Drop on Concern Demand Will Fall - more
  • WSJ metals morning - LME Metals Trade Mixed in Thin Trade - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Aluminum Heads for Biggest Weekly Advance Since November 2012 - more

  Reports

  • Sucden Quarterly Metals Report - pdf here
  • US Imports of Stainless Steel Mill Products - more
  • U.S. Exports of Stainless Steel Mill Products - more
  • (Customs Statistics) Japan's Exports of Nickel in February 2014 - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.99
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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.
  • IMF April 2014 World Economic Outlook - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Aluminum Rises to 2014 High on Global Supply Concerns - more

  Reports

  • SMC Global Monthly Report on Base Metals - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.95
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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

  • Another Weapon in Putin's Arsenal? - 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Pares Gains as Chile Earthquake Leaves Mines Undamaged - more
  • Reuters metals morning - Copper hits more than 3-week high after Chile quake - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.87
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Advances as China’s Factory Data Beats Expectations - more
  • Reuters metals morning - Copper steady as weak China data reinforces stimulus prospects - more
  • WSJ metals morning - LME Metals Edge Lower After Chinese PMI Figures - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.82
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Standard Chartered Commodity Roadmap March 25, 2014 - raises forecast for 2014 average price of nickel to $6.42/lb
  • China PMI edges up to 50.3 - more

    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

    Polymet Mining - Copper, Nickel & Precious Metals in the U.S. - Powerpoint presentation here

    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)
  • 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

 March Archives


Chart Info Delayed 1 Day

Chart temporarily down

Chart temporarily down


Translate this page to French | German | Spanish | Italian | Portuguese | Chinese | Japanese | Korean | Russian


"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays - Disclaimer Original 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.

Site Sponsors

Advertise your company on this site

Your banner here

MEPS Stainless Steel Price Index

Global 304 SS Index

nickel prices

North America 304 Index

price of stainless steel

EU 304 SS Index

price of nickel

Asia 304 SS Index

Other Sites

Nickel Mining Stock
Stainless Steel Videos
USGS Mineral Reports
Industrial Metals Index
Nonferrous Metals Index
World Disaster Info
NOAA El Nino Updates
Investor Guide

Today's Market

USA Economic Calendar
World Economic Calendar
Europe Markets
Asia/Pacific
TED Spread
LMEX Index
VIX Index
US Futures


LME Margins
LME Calendar
LME Ring Times
Metals MSDS
Nickel Toxicology
Stainless Steel MSDS
USGS Molybdenum Info
USGS Nickel Information
USGS Chromium Information
Tariff Codes (many countries)

Price of Nickel

Nickel Graph Temporarily Down

1 and 5 year nickel chart

JP Morgan Delayed Price

Daily Commodity Prices

Site Pages

Stainless Steel Graph/Charts
Stainless Steel Surcharge
Nickel/Stainless Research
Stainless Steel Literature
Ferrochrome Facts
Worldwide PMI

Archives

2020
January February March
April

2019
January February March
April May June July August
September October
November December

2018
January February March
April May June July August
September October
November December

2017 and prior



nickel news




Nickel Publications at Amazon

Contact author  /   EStainlessSteel Home Page

Your free daily news source for nickel, molybdenum, ferrochrome, chromium, iron ore and stainless steel market prices and news.

Any reproduction in whole, or in part, without permission from the author is prohibited.
© 2003-2019