This page is archived news covering the period of April 2017
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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

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Thursday, April 27

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.18/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and start today just over the 379,000 tonne level. Nickel continues to slide, with support now declining to $4.09/lb. You may dislike her, but you have to give Regina Lopez credit. After a confirmation hearing earlier this year went south, Lopez toned down her rhetoric to the media and stopped taking draconian actions. With a second round of confirmation hearings scheduled for next week, she could have kept quiet for at least a few more weeks and took some of the ammo away from her detractors. But last week she attacked another Minister in holding up her earlier actions from being enforced and today, announced that all open pit mining would be banned in her country. And the trading price of nickel? At present it doesn't appear they care. We hope to see you again next week. Have a safe weekend.
  • Average price of cash nickel so far this month - $4.40/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper drifts as China manufacturing growth seen slowing - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (The Straits Times) The S&P Global Platts China Steel Sentiment Index slid to 45.1 this month from 49.19 in March. The gauge is based on a survey of about 75 to 90 China-based market participants including traders and steel mills.
  • (Xinhua) China’s crude steel output grew 4.6 percent year-on-year to 201.1 million metric tons in the first quarter of 2017, compared with a slight drop for the same period of last year, an industry association said Wednesday.
  • Dollar Pares Decline After Nafta Anxiety Defused: Markets Wrap - more

     China demand concern push nickel lower - Nickel prices have hit 10-month lows as worries about demand from top consumer China were reinforced by its trade data, which showed falling imports of the metal used to make stainless steel. - more

     Philippines bans open-pit mining as minister toughens crackdown - Philippine Environment Secretary Regina Lopez said on Thursday she will ban open-pit mining in the country, toughening a months-long crackdown on the sector she blames for extensive environmental damage. - more

     Nickel under renewed pressure, scrap values fall - Global: Stainless steel scrap prices have dropped back from the levels published in Recycling International’s mid-March report, with the 304 quality sliding from US$ 1290-1340 per tonne to US$ 1180-1230 and 316 material sliding from US$ 1630-1680 to US$ 1530-1580. - more

     Western Areas set to sign offtake contracts with battery makers - Western Areas is primed to sign its first offtake contracts directly with battery makers as the WA nickel producer looks to lift revenue in volatile commodity markets. - more

     South32 amends coal and metals output expectation - In addition to revising its full-year output guidance for the Cannington multi-metals mine, in Queensland, diversified spin-off South32 has also revised its full year production guidance for its South African energy coal operations. - more

     Nickel View Dominates Independence Group - Nickel production is increasingly dominating the outlook for Independence Group as development enters the final stages at Nova and production winds down at Long. - more

     Ring of Fire junior taps China for development cash - KWG Resources is jetting off to China in May to meet with its rail development partners and scrounge for project financing. - more

     Ambatovy gets Cybermine simulators - Sherritt International’s Ambatovy operation in Madagascar has commissioned ThoroughTec Cybermine operator training simulators for its heavy equipment, which is the first Cybermine order in the country - more

     Andrew 'Twiggy' Forrest's stake in Poseidon diluted by cash strategies - Billionaire Andrew Forrest's stake in Poseidon Nickel has been sliced in half by the dilutive impact of the embattled junior company's strategies to conserve cash. - more

     Nickel Market Basics: Supply and Demand Dynamics - Investors interested in the nickel market need to have a solid understanding of supply and demand dynamics. - more

     Mining Minnesota study misfires on tourism - A new study produced by Mining Minnesota highlights the major impact of taconite mining on the region’s economy, and contrasts that to what it claims is a much-smaller impact from the tourism sector. The study, putting it mildly, has problems. - 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 news and information free of charge. Contact us

Wednesday, April 26

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.23/lb . Indicators at 6:10 am CST today show 3 month nickel trading unchanged. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 379,300 tonne level. Nickel gained slightly yesterday but struggling again today. Considering world markets have bounced since the French election and news on the Trump tax cut, nickel's struggles should be concerning to miners and investors. Stainless steel producers, on the other hand, are looking at lower costs, although some have apparently figured out a way to keep profits manageable. Fuel surcharge increase? It's another slow Wednesday news day. Next week could be a little more interesting with the Lopez confirmation hearings rescheduled to May 3rd in the Philippines.
  • Average price of cash nickel so far this month - $4.42/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper trades little changed as dollar drops - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • ENSO neutral, but tropical Pacific waters continue to warm - more
  • Risk Rally Falters as Focus Moves to U.S. Tax Plan: Markets Wrap - more

     Press Release - For the month of May 2017, North American Stainless will increase the fuel surcharge to 20% for stainless flat and long products. - more

     Western Areas hopes for stellar year - Nickel miner Western Areas is tracking at the upper end of its full-year guidance following a strong March quarter, with the miner also reporting its lowest unit cash costs since June 2015. - more

     Munali Nickel mine to re-open - The Munali Nickel Mine in Mazabuka, Southern province, is due to reopen this year. - more

     Antofagsta Reports Production Decline While Costs Creep Up - (excerpt) Molybdenum production performed better, up 29% year-on-year at 2,200 tonnes, also up 10% from the last quarter of 2016. - more

     US Preliminary Steel Imports Surged 25% in March - Year-to-date total and finished steel imports are 8,932,566 and 6,927,093 net tons (NT), up 18.7% and 7.8% respectively, vs. the same period in 2016. - more

     Clive Mensink’s claims on overseas trip contradict meeting plans - Clive Mensink was setting up a business meeting in Brisbane for the same week he flew out on a marathon overseas holiday which he now claims was a longstanding arrangement. - more

     Two Latinos Win Prestigious Prize as ‘Grassroots Environmental Heroes’ - Two Latinos, one from East Los Angeles, California and one from Guatemala are the recipients of a prestigious prize honoring "grassroots environmental heroes." - more

     The Surprising Role of Stainless Steel Behind Milwaukee’s Brewery Boom - These two local businesses are playing a big part in, and benefiting from, Milwaukee’s return to the moniker of Brew City. - 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 news and information free of charge. Contact us

Tuesday, April 25

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $4.20/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses rose yesterday and start today's trading just under under the 380,200 tonne level. Nickel is trading at pricing levels last seen in June of last year and show no signs of rebounding yet. Moving averages and technical indicators monthly show negative. Technical support has now fallen to $4.09/lb. With this in mind, stainless steel producer surcharges for May only fell back to where they were a few months ago. (our surcharge page). Unless we see a large increase in nickel prices early next month, we should see surcharges fall even more for June. The World Steel Association is reporting steel production worldwide was up 4.6% YOY in March. Russia's Norilsk told Metal Bulletin they are forecasting a worldwide production deficit of 100,000 tonnes this year.  
  • Average price of cash nickel so far this month - $4.43/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper turns higher as Asian equities soar on French vote - more

  Reports

  • Eurometal World Steel news April 2017 - pdf here
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • London Metal Exchange to delay launch of precious metal contracts - more
  • Twitter - China March refined nickel imports -66.8% y/y at 14,371 tonnes
  • Eurometal: “Consumption mood in Europe is rather positive” - pdf here
  • China iron ore, steel resume decline as slack demand weighs - more
  • Glencore updates its nickel production output to 20.6K tons in New Caledonia for 2017 (+30% vs 2016)
  • (MB) Norilsk Nickel, one of the world’s largest nickel producers, expects the market deficit to widen to 100,000 tonnes by the end of 2017, its head of market research told delegates at the International Nickel Conference in Lisbon.
  • Return of Risk Spurs Stocks as Europe Bonds Falter: Markets Wrap - more

     March 2017 crude steel production - World crude steel production for the 67 countries reporting to the World Steel Association (worldsteel) was 145.0 million tonnes (Mt) in March 2017, a 4.6% increase compared to March 2016. - more

     European stainless steel surcharges hit four-month lows in May - Monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products in Europe for May are set to fall to their lowest levels since January as both nickel and ferrochrome prices have weakened, first mill announcements indicated. - more

     Colombia to clarify mining laws as ruling, vote worry investors - Colombia's government will seek congressional approval to harmonize national and local mining laws, the mines and energy minister said on Monday, as legal wrangling over environmental regulations and community opposition threaten investment. - more

     PPMAI writes to steel ministry for import exemption - Capital goods industry has written to ministry of steel to immediately issue exemption notice for easy imports of steel used in high end industry application. - more

     Courtesy AISI - In the week ending on April 22, 2017, domestic raw steel production was 1,715,000 net tons while the capability utilization rate was 73.6 percent. Production was 1,698,000 net tons in the week ending April 22, 2016 while the capability utilization then was 72.6 percent. The current week production represents a 1.0 percent increase from the same period in the previous year. Production for the week ending April 22, 2017 is down 1.4 percent from the previous week ending April 15, 2017 when production was 1,740,000 net tons and the rate of capability utilization was 74.6 percent. - more

     Brexit: Invalidation of existing trade remedy measures in the EU - With the UK parliament passing the Brexit Bill on 14th of March 2017 paving the way for the government to trigger Article 50 of the EU Treaty (which allows the UK to begin the process to exit from the European Union), Brexit may now only be a matter of time. - more

     Your land, not mine - Just before the Redwood Highway leaves Oregon, high in the Siskiyou Range, you drive past what might be the strangest creek in the state: Rough and Ready Creek. - 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 news and information free of charge. Contact us

Monday, April 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $4.24/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles nickel soared on Thursday and retreated slightly on Friday and start the week just shy of the 380,500 tonne level. We started the year at 372,066 tonnes, and gained over 10,000 tonnes last week alone. Lot of news. Philippine President Duterte has apparently give the ok to Environmental minister Lopez to work with communist rebels in rehabilitating mining areas. The text phrase "WTF" comes to mind. Chinese steel prices are in a slump and President Trump wants an investigation into possible steel dumping into the US. This announcement comes a week after the Chinese President was in town and pressure was applied to help fix the North Korea problem. It remains to be seen if this is a move to investigate steel imports - or just more pressure being applied.  The AIIS isn't overly optimistic. Russian media is claiming their scientists have invented a cheaper way to extract minerals from rock, and a Guatemalan anti-mining activist wins an award. World is breathing a sigh of relief that the far right candidate in France did not win the top spot in their weekend election, although she did advance to the final run off.
  • Average price of cash nickel so far this month - $4.45/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper jumps as French election result boosts metals - more

  Reports

  • worldsteel Short Range Outlook 2017-2018 - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (Reuters 4/21) The discount of LME cash nickel to the three-month contract shrank to $48 a tonne from $67.50 late last month, the largest since January 2015. A smaller discount indicates tighter supply.
  • (LSE) Nickel production dropped 12% year-on-year. Full-year guidance was reiterated for all commodities, apart from nickel. Anglo American said it has revised its annual target to 43,000 to 45,000 tonnes of nickel, compared to the previous goal of around 45,000 tonnes.
  • AIIS Expresses ‘Concern’ about Steel Imports Investigation - more
  • AK Steel CEO Roger Newport Named AIST Steelmaker of the Year  - more
  • Risk Back On as French Vote Ripples Across Markets: Markets Wrap - more

     Philippine minister wants to work with Maoist rebels in mine areas - The Philippine environment minister said she has been given the green light by President Rodrigo Duterte to work with communist rebel fighters to help rehabilitate and develop the country's mining areas. - more

  • OceanaGold fights against Philippine mine suspension - more
  • How we value our environment - more

     Nickel and Tin markets record small deficits, Zinc ends in surplus during Jan-Feb '17 - The latest Metals Balances Report released by the World Bureau of Metal Statistics (WBMS) indicates that Nickel market has ended in a modest deficit during Jan-Feb ’17.  - more

     Nickel Market Beware: Batteries can no Longer be Ignored - In recent months, news stories on nickel have been dominated by concerns over supply of nickel ores and concentrates from the Philippines and Indonesia. - more

     Russian Scientists Come Up With Supercheap Way to Produce Valuable Metals - Russian chemists have created a new method for extracting metals like copper, nickel and molybdenum, according to the press service of the National University of Science and Technology MISIS. - more

     Vale's nickel in matte output up 2% yoy in first quarter - Nickel in matte production at mining company PT Vale Indonesia was 2 percent higher in the first quarter of 2017 than in the corresponding period of 2016. - more

     Philippines – inaccurate test certificates for nickel ore pose serious risk - Nickel ore is listed in the IMSBC Code as a Group A cargo that may liquefy and shippers must, in accordance with Section 4 of the Code, provide declarations and certificates evidencing that the cargo is safe to carry with a moisture content below its established Transportable Moisture Limit (TML). - more

     Downward Trend in China's Steel Market Prices Not Cease Yet - China's market prices of steel products still continued to fall. Its prices of all items in the 3rd week (10th-14th) of April declined nationwide. - more

     Afarak Mogale to increase ferrochrome production – Aim-listed Afarak’s Mogale operation is now using all its operating furnaces to produce ferrochrome following the successful transition of a second furnace from silicomanganese to ferrochrome. - more

     Multi-child ‘Pentium’: The richest Minister Lev Kuznetsov profiting from Krasnoyarsk region - In 2016, Minister for North Caucasus Affairs Lev Kuznetsov declared the largest revenue among all Kremlin officials. - more

     Trump targets cheap Chinese steel in probe, rallying U.S. steel stocks - President Donald Trump on Thursday launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs and sending shares of some U.S. steel makers up over 8 percent. - more

     These 6 Activists Are Risking It All in the Name of Environmental Justice - Here’s a little salve if you’re feeling burnt out about the state of the world. - 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 news and information free of charge. Contact us

Thursday, April 20

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.24/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses rose for a second consecutive day on Wednesday and now total just over the 375,700 tonne level. Nickel closed below support for second day, but traders apparently aren't ready to give up on it just yet, with most technical indicators signalling buy. INSG reported February was another deficit month for refined nickel worldwide, although LME stockpile numbers are saying something differently. Industry news is on the light side today. We hope each of you has a safe and restful weekend and invite you to join us next week.
  • Average price of cash nickel so far this month - $4.49/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper hovers above 2017 low as China stocks weigh - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (Tweet) Scotiabank's Rory Johnston forecasts nickel prices will average $5.00/lb in 2017 and $5.50/lb in 2018
  • Dollar Drops as European Stocks Climb on Earnings: Markets Wrap - more

     Global nickel deficit deepens to 4,400 T in Feb - INSG - The global market for refined nickel deepened its deficit to 4,400 tonnes in February from a deficit of 1,100 tonnes in January, data from the International Nickel Study Group showed on Wednesday. - more

     Stainless steel market update Mar’17- Prices reinforce in Europe and USA, however down in China - The Asian stainless suppliers have been struggling to recover after the end of the pricing downturn in February. - more

     Miner’s net income sinks - Listed mining firm Global Ferronickel Holdings, Inc. (FNI) reported its subsidiary, Platinum Group Metals Corp. (PGMC), saw its net income drop 97 percent to P37.5 million last year from P1.112 billion the prior year. - more

  • Global Ferronickel 2016 income dropped on depressed world nickel prices - more

     US Steel exports to European Union spike in February - United States steel exports climbed by 6.2 percent year-on-year to 827,559 net tons during the month of February this year and exports were 1.1 percent higher than in January, as per the latest figures released by the American Institute for International Steel. - more

     China's Steel Exports in Mar Rise by 31% from Feb to 7,560 t/t - China's export quantity of steel products in March released lately by the General Administration of China Customs was 7,560 thousand tons (abbreviated as t/t), up 31% from the previous month for the first time in 4 months and down 24% from the same month last year. In February, as distributors focused on domestic supply due to a rise in market prices of steel products, China's exports decreased by 1,670 t/t from January. - more

     DENR's Lopez slams delays on mine closures - Environment Secretary Gina Lopez vented frustration on Wednesday that mines she ordered closed months ago remain open, aiming a broadside at a fellow cabinet secretary whose office she blamed for slowing appeals that can only be resolved by President Duterte. - more

     Zimbabwe: Asa Loses $4,3 Million, Fires Executives - Asa Resources Plc, a product of a hostile take-over by Chinese investor, China International Mining Group Corporation from former Mwana Africa shareholders, is immersed in fresh controversy after its top managers are alleged to have designed an obscure web to illegally move $4,3 million out of Zimbabwe. - 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 news and information free of charge. Contact us

Wednesday, April 19

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.22/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose by a huge amount on Tuesday and now total over the 375,950 tonne level. That puts us back in the plus column for the year, with cancelled warrants falling under 25%, their lowest in two years. Regina Lopez was renominated by Philippine President Duterte yesterday, and after laying low since her first confirmation hearings did not go well she is back with both barrels firing today. Todays villain is a fellow minister, who she accuses of helping keep the nickel mines open that she ordered closed. Nickel closed below support of $4.25/lb yesterday, but is trying to find its footing today. Yesterday, we read the story of how nickel might have been partially responsible for a mass extinction on earth 250 million years ago. Today we read where nickel ore is the worlds most dangerous ship cargo. How much are you being paid to work with this stuff?
  • Average price of cash nickel so far this month - $4.51/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper climbs off 3-mth low, but demand worries loom - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • The iron ore price rout just went up a gear - more
  • Markets Start to Ponder the $13 Trillion Gorilla in the Room - more
  • European Stocks Advance as Haven Demand Eases: Markets Wrap - more

     Industrial Metals Are Diving - Industrial metals plunged as traders capitulated amid stock market declines and skepticism surrounding the outlook for commodity demand from China and the U.S. - more

     Philippine environment minister blasts cabinet colleague over mine closure delays - Philippine Environment Secretary Regina Lopez vented frustration on Wednesday that mines she ordered closed months ago remain open, aiming a broadside at a fellow minister whose office she blamed for slowing appeals that can only be resolved by President Rodrigo Duterte. - more

     Robust steel output in China shifts from being good to bad: Russell - In the first two months of the year, China’s steel and iron ore prices were surging because output was growing strongly, but now they are falling for exactly the same reason. - more

     Carrying nickel ore: The world’s most dangerous cargo - In the following article, Mr. John Wilson, Technical Services Asia, American P&I Club (Hong Kong Office), explains why nickel ore is considered as ‘the world’s most dangerous cargo’. - more

     Artemis saves on Radio Hill costs - Artemis Resources Limited said the cost to re-commission the Radio Hill copper/nickel/cobalt metallurgical treatment plant south of Karratha is significantly less than first envisaged, with a timeline to operational readiness less than six months. - more

     Thorough investigation needed in Zimasco chrome offer - We received with utmost dismay news that the country’s largest ferrochrome producer, Zimasco may have pulled the wool over our eyes when it surrendered depleted chrome claims to the Government. - more

     Clive Palmer in court battle for nickel refinery assets - Clive Palmer is continuing to fight for millions of dollars’ worth of assets from his liquidated Queensland Nickel company. - more

     Mining industry study downplays tourism in northern Minnesota economy - With claims by some mining critics that tourism is a more sustainable option than copper mining for northern Minnesota, and with the federal government mulling a moratorium on new mining near the Boundary Waters Canoe Area Wilderness, industry officials fired back Tuesday with a new study that claims mining jobs still drive the regional economy. - 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 news and information free of charge. Contact us

Tuesday, April 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $4.42/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses fell slightly on Thursday and start teh week just over the 369,350 tonne level. The London Metal Exchange was closed Friday for Good Friday and Monday for Easter, so there was no base metals trading there either day. Nickel is opening lower, with support now lowered to $4.25/lb. Nickel continues to trade below all of the moving averages, with nearly all technicals sending negative signals. The 20 day moving average is now at a years low while the 10 day has still not hit as low as it was when the year started. After the long holiday weekend, we have a lot of interesting reading for you.
  • Average price of cash nickel so far this month - $4.53/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper slips on geopolitical tensions, aluminium sees China boost - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China's first quarter growth beats expectations at 6.9% - more
  • The dream is officially over for iron ore - more
  • Pound Rises as May Calls Election; Stocks Drop: Markets Wrap - more

     Nickel Prices: Commodity Flat, But Optimism Prevails on Strong Chinese Demand Expectations - Nickel’s price movement remains subdued, continuing its flat performance from the first quarter into April while the market awaits fresh drivers. - more

  • Weak China steel outlook topples iron ore - more

     Duterte reappoints Philippine mining minister - Philippines President Rodrigo Duterte has reappointed the environment minister who wants more than half of the country's mines shut, but the official said on Monday she was unsure if lawmakers would allow her to keep the job. - more

  • Gina reappointed to Cabinet - more
  • 4 secretaries issued interim appointments - more

     Stainless steel pipe, fittings & flanges report: April 2017 - Domestic stainless steel producers announced modest increases in surcharges for April. Most increases amounted to less than 1.0% except for Type 316, which the domestic producers were boosting around 2.7%. According to MEPS International, April’s austenitic stainless steel prices are likely to peak for the year in North America. Although nickel prices are expected to surge in the second half, they are likely to be offset by other reductions in mill costs. - more

     Ni SUS Scrap Purchase Price in Kanto Down to JPY125,000/130,000 from Apr 10 = Many of mills offer price cut from price in early April which remains unchanged from prior month = As of April 10, many of the stainless steel mills in the Chubu and Kanto areas offer the purchase price (delivered at plant) of nickel-containing stainless steel scrap (SABOT) at the range from JPY125,000 to JPY130,000 per ton. (Hereinafter, the price is per ton) - more

     Zimbabwe: Foreign Mining Firms Accused of Under-Declaring Exports - Zimbabwe may have lost potential income running into billions of dollars through trade misinvoicing of key minerals such as diamond, gold and nickel. - more

     Death metal: how nickel played a role in the world’s worst mass extinction - Around 250 million years ago, life on Earth nearly came to an end, in a mass extinction between the Permian and Triassic periods known as the Great Dying. - more

     Courtesy AISI - In the week ending on April 15, 2017, domestic raw steel production was 1,740,000 net tons while the capability utilization rate was 74.6 percent. Production was 1,698,000 net tons in the week ending April 15, 2016 while the capability utilization then was 72.6 percent. The current week production represents a 2.5 percent increase from the same period in the previous year. Production for the week ending April 15, 2017 is up 2.2 percent from the previous week ending April 8, 2017 when production was 1,703,000 net tons and the rate of capability utilization was 73.0 percent. - more

     Queensland Nickel: Clive Mensink remains overseas despite two arrest warrants being issued - International fugitive Clive Mensink is not being hunted by overseas law ­enforcement agencies, including Interpol, despite two warrants being issued for his arrest. - more

     February 2017 Steel Exports Press Release - Steel exports rose slightly from January to February to total 827,559 net tons.  February exports were 1.1 percent higher than in January and 6.2 percent higher than in February 2016. - more

     DOC Investigation of Countries with Significant Trade Imbalances with the United States - The U.S. Department of Commerce (DOC) has announced that it and the United States Trade Representative (USTR) have been directed by the President to prepare a study on the countries with which the United States has significant balance-of-trade deficits and the reasons for these deficits. - 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 news and information free of charge. Contact us

Thursday, April 13

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.42/lb . Indicators at 6:10 am CST today show 3 month nickel trading around $.00/lb unchanged. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 369,400 tonne level. Stockpile numbers have only show a gain one day this month. Another light day on the news front. The traded price of nickel is once again trading below all of the moving averages, with nearly all technical indicators tipping to the sell side. Support remains at $4.40/lb. This is our last update for the week, so we wish each of our readers a safe and enjoyable weekend and hope to see you back on Monday.
  • Average price of cash nickel so far this month - $4.57/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper climbs as China trade brightens, imports jump - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Trump Talk Weighs on Stocks as Dollar Extends Drop: Markets Wrap - more

     No relief for the London Metal Exchange as volumes fall again: Andy Home - The London Metal Exchange (LME) has just laid to rest its steel billet contract. - more

     Philippines nickel ore exports continue apace - Apparently allaying fears of any nickel export squeeze from major exporter Philippines, listed miner Global Ferronickel Holdings Inc said it has started nickel ore shipments to China with volume coming to about 550,000 wet metric tons (wmt) so far. - more

     Western Areas restarts mill recovery project - The board of nickel miner Western Areas has approved a A$17.5-million investment in its mill recovery enhancement project (MREP) in Western Australia. - more

     The Secret That’s Driving This Industrial Metal - Last year was very shiny for nickel. The metal’s price rose about 15%. What does 2017 hold? - more

     Northwest Russia polluter posts impressive cuts in harmful emissions - In a surprising development, the Kola Mining and Metallurgy Company –which for decades has stubbornly fouled air over Northwest Russia and Scandinavia – last year reduced its emissions of harmful sulfur dioxide by more than 20 percent. - more

     U.S. Steel Shipments Dip in February - U.S. steel mills shipped 7.2 million tons in February, a decline of 6.2 percent from January, but an increase of 2.4 percent from the same month in 2016, reports the American Iron and Steel Institute in Washington. - 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 news and information free of charge. Contact us

Wednesday, April 12

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.46/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses continued to fall on Tuesday and now total just under the 369,700 tonne level. Wednesday's tend to be a feast or famine day when it comes to industry news, and today appears to be a light news day. Nickel traders did not buy into the positive technical signal sent on Monday and the traded price is now lower for a second day and back under the $10,000/tonne level. Technical indicators are now negative with initial support around the $4.40/lb level.
  • Average price of cash nickel so far this month - $4.56/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper slips to two-week low as Korea tensions weigh - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (Reuters) Thyssenkrupp could cut about 4 000 of the 27 000 jobs at its European steel unit in a coming restructuring of the business, a representative of trade union IG Metall told Reuters on Tuesday.
  • Automakers Spur Europe Stocks as Haven Dash Eases: Markets Wrap - more

     Global Ferronickel starts deploying nickel ore shipments to China this year - Global Ferronickel Holdings, Inc. started deploying its first nickel ore shipments to China this year, as the listed miner hopes to meet its full-year shipment target. - more

     Nickel Asia Q1 shipment value surges by 47% - Nickel Asia Corp. , the country’s biggest nickel producer, said that the estimated value of its shipments in the first quarter of this year surged 47 percent from the previous year to P2.19 billion on higher ore prices coupled with a weaker exchange rate. - more

     U.S. Export Volume of Nickel Scrap in February 2017 = Down by 7% from prior month, and exports to Canada, Japan and India are down = According to the statistics released by the U. S. Department of Commerce, the export result of nickel scrap in February 2017 was 2,281 tons, down by 7.3% from 2,460 tons in the prior month, and the average export unit price per ton was US$3,357.60, up by 3.4% from the prior month. - more

     US HRC Steel prices increase during March - US hot-rolled coil steel prices increased in March, supported by a rise in scrap prices and low service center inventories, according to the Steel Index. - 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 news and information free of charge. Contact us

Tuesday, April 11

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $4.62/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME approved warehouses finally fell below where they started the year at and now total just under the 370,900 tonne level. Nickel closed for a second consecutive day above $10,000/tonne, and technically this would send the market a buy signal, but we aren't sure traders are buying it - pun intended. A few nickel miners in the Philippines are forecasting prices for nickel ore will be 'robust' in 2017, and if this proves true, it will be in part because miners in that country can't sell any to the world market. Cyclone Cook has departed New Caledonia and while doing some damage, left teh country "relatively unscathed' according to the country's president.
  • Average price of cash nickel so far this month - $4.56/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper slips as oversupply worries drag - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (Kallanish) Xinxing starts building fourth Indonesian nickel smelter
  • New Caledonia 'relatively unscathed' post-cyclone - more
  • El Niño Watch continues; eastern tropical Pacific waters warm - more
  • Gold Gains With Treasuries and Yen on Haven Demand: Markets Wrap - more

     Philippines top nickel miners expect firm ore prices on China demand - The two biggest nickel miners in the Philippines, Nickel Asia Corp and Global Ferronickel Holdings Inc, on Tuesday said prices for the metal would be robust this year due to growing demand from China. - more

     Japan's Purchase Price of HC FeCr for Apr-Jun Down by US Cents 11 = US Cents 162 per lb, as result of being largely affected by drop in coke price = Japanese stainless steel mills have continued negotiation with multiple foreign ferro-chrome producers to fix the purchase price of high-carbon ferro-chrome for the period from April to June in 2017, and have recently come to an agreement on the price to be down by US Cents 11 from the prior period. - more

     Chinese Nickel market may remain under pressure during April - Nickel market returns to be subject to market fundamentals after the commodity market digested the news in early April that China will build new Xiongan New Area in Hebei. - more

     Merafe’s Q1 ferrochrome production up 10% - The attributable production of ferrochrome company, Merafe Resources, increased by 10% in the first quarter of this year. - more

     China's Qingshan Iron & Steel Continues Mounting Export Offensive = In the market of HR austenitic stainless coils = According to a source, in the market of hot-rolled (HR) austenitic stainless steel coils in the Asian region, China's Qingshan Iron & Steel is aggressively proceeding with export negotiations and is felt to dominate the market. Its price is said to be $1,900 CFR, and the market prices are likely to be lowered by $200. - more

      China steel outlook drags on raw materials futures - Concerns that China is producing too much steel put pressure on industrial raw materials markets on Monday, with key futures indicators, iron ore, coke and rebar all trading lower. - more

     Resurgent Glencore can score in commodity uplift - I love big companies with a story attached. When that story would do credit to the creator of 'James Bond', I like it even more. - more

     U.S. Steelmakers Press Their Luck With Price Increases - U.S. steelmakers moved fast to raise prices after new tariffs were levied on some foreign competitors last year, but the quick increase has alienated some buyers and threatens to short-circuit a steel-market rebound. - more

     Courtesy AISI - In the week ending on April 8, 2017, domestic raw steel production was 1,703,000 net tons while the capability utilization rate was 73.0 percent. Production was 1,698,000 net tons in the week ending April 8, 2016 while the capability utilization then was 72.6 percent. The current week production represents a 0.3 percent increase from the same period in the previous year. Production for the week ending April 8, 2017 is up 0.7 percent from the previous week ending April 1, 2017 when production was 1,692,000 net tons and the rate of capability utilization was 71.4 percent. - 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 news and information free of charge. Contact us

Monday, April 10

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $4.62/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the week just over the 374,500 tonne level. We will let you know when stockpile numbers finally fall below the 372,066 tonne level they started the year at. After a few quiet weeks, Philippine Environment Secretary Gina Lopez is back on the warpath against miners in that country, imposing a 'tax' on any nickel ore that has already been mined, before it can be shipped. And we don't mean to pick on them, but back at Paydirt 2015 in Perth Australia, Alto Capitol told attendees that they forecast nickel would "double in value to in excess of US$20,000 a tonne before March 2017" (source) Nickel continues to trade around the $10,000/tonne level, with no momentum driving it in either direction.
  • Average price of cash nickel so far this month - $4.56/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper drifts lower on concerns about weak demand - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Nickel price chart formed 8 months long Head & Shoulder reversal chart pattern with very strong horizontal support standing near 640 levels. - more
  • Stocks Mixed, Dollar and Oil Gain as Risks Linger: Markets Wrap - more

     Mining suspended in cyclone-hit New Caledonia as people seek shelter - Cyclonic winds and heavy rain buffeted New Caledonia on Monday, prompting residents of the French South Pacific territory to seek shelter and halt mining of nickel, its most important export. - more

     How two Southeast Asian nations are shaping nickel market - So far, 2017 has been a memorable year for base metals, especially Nickel, given the roller coaster journey the metal has witnessed in the past three months. - more

     After Raid, Philippine Nickel Miner Asks Duterte to Allow Shipment - A suspended Philippine nickel miner has asked President Rodrigo Duterte to allow it to ship ore stockpiles after some cargoes were seized as tensions escalated over a required fee it claimed was illegal. - more

  • Lopez bullish on mine stockpile clearing ‘trust fund’ - more

     Sumitomo Metal Mining's FY2017 Plan for Nickel Production = Production of Fe-Ni decreases to 14,100 tons, and production of electrolytic Ni also decreases to 62,800 tons = According to the summary of the plan for metal production Sumitomo Metal Mining Co., Ltd. released on April 3, the Company's production volume of ferro-nickel (in pure Ni equivalent) planned for the fiscal year 2017 (April 2017 - March 2018) is 14,100 tons (7,100 tons in the former half and 7,000 tons in the latter half). - more

    S.Korea buys 50 T of nickel for June arrival - South Korea bought 50 tonnes of nickel for June arrival via a tender that closed on Thursday, state-run Public Procurement Service said on its website - more

     Commanding the world's respect - (quote) The alloys combine a number of desirable material features, including high tensile strength, excellent corrosion resistance, very high coefficient of restitution and excellent anti-wearing characteristics. A typical alloy is almost 1.5 times harder than stainless steel and about 2.5 times stronger than titanium. - 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 news and information free of charge. Contact us

Thursday, April 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.67/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 376,600 tonne level. Nickel rose sharply yesterday as part of an overall optimistic mood among metals traders, but is quieter today, as traders try to decide where US markets will head today. US markets were sharply higher as well yesterday, but reversed coarse on news that the US Fed will start unwinding its balance sheet sooner than expected, and ended the days trading in the red. So far, US futures remain negative. Traders will also be watching the two days of meetings between US President Trump and Chinese President Xi in Florida. The Euro is also lower this morning and adding negative pressure on nickel as ECB President continues stimulus in that region. Industry news continues on the light side. Have a relaxing and restful weekend and we hope to see you back on Monday.
  • Average price of cash nickel so far this month - $4.54/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper steadies as Fed minutes hurt cyclical assets - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Drop, Euro Wobbles on Central Bank Outlooks: Markets Wrap - more

     Here's how much more steel China will need for its new megacity - China's new project to build a megacity on the outskirts of Beijing will drive steel demand, with the country likely gobbling up an extra 12 to 14 million metric tons of the commodity a year if plans are implemented in 10 years, Citi Research analysts said in a note released on Tuesday. - more

     US Steel Import Permits surged 24% in March: AISI - Based on the most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that the U.S. steel import permit applications for the month of March this year totaled 3,413,000 net tons (NT) of steel. - more

     WA mineral, petroleum sales up by $3.4bn in 2016 - Western Australia’s mineral and petroleum industry reported sales of A$94.8-billion in 2016, an increase of A$3.4-billion on 2015 sales. - more

     URU Metals starts test work at Zebediela - URU Metals has confirmed the commencement of metallurgical test work to assess the potential to process nickel mineralisation at the Zebediela Nickel Project using acid leaching on an existing drill core. - more

     Brazil's Votorantim seeks stable debt metrics after annual loss - Votorantim SA will focus on keeping debt metrics stable while completing key investment projects this year to help Brazil's largest diversified industrial conglomerate return to profit amid a challenging outlook, Chief Executive Officer João Miranda said on Thursday. - more

     No role for Clive Palmer at JFK library gala - The John F Kennedy Library has shot down Clive Palmer’s claim that he needs to be in the US two days before a compulsory court hearing into the demise of Queensland Nickel. - more

     Conservancy director explains how easements protect property - Conservation easements allow landowners to ensure their choices to protect their land are maintained after their death or sale of the property. - 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 news and information free of charge. Contact us

Wednesday, April 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.53/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.11/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and started the day just under the 376,900 tonne level. China returned to the market today, after a two day break, yesterday being a tomb sweeping or mourning holiday. Nickel is higher today, and back above the $10,000 tonne level, with cancelled warrants jumping above the 27-1/2% level. Not much in the way of metals news today. El Salvador became the first country in the world to ban mining within its borders. And Australia courts have introduced new characters that got money from Clive Palmer before QNI closed its doors. The soap opera continues, with nephew Clive Mensink still on the run, supposedly somewhere in Europe. May is the next big month for Gina Lopez and the future of the Philippine mining industry, with her next confirmation hearings scheduled for the 3rd.
  • Average price of cash nickel so far this month - $4.50/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper rises as Chinese buyers return to market - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SO) China's steel sector PMI decreases to 50.6 percent in March
  • Stocks Rise as Oil Extends Gain; Data Boosts Pound: Markets Wrap - more

     Water takes gold as El Salvador bans metal mining - Standing in El Salvador’s Congress as the Central American state voted to become the first in the world to ban metal mining, Vidalina Morales’ elation was muted by the memory of four activist colleagues killed during a 12-year campaign. - more

     Battle for Queensland Nickel millions begins - Queensland Nickel’s liquidators have begun court action to reclaim $106 million ripped from the company’s coffers, including the millions of dollars given to Clive Palmer’s father-in-law and a mystery woman in Kyrgyzstan. - more

     Cuba, Chile sign contract on mining investment - Cuban Commercial Caribbean Nickel and Chilean RM Consulting firms signed a contract Tuesday on feasibility studies on a future joint project to recover minerals, marking a new step for foreign investment in Cuba's mining sector. - more

     Trump Executive Orders Target Unpaid Duties, Trade Deficits - President Donald Trump on March 31 issued an executive order aimed at “establishing enhanced collection and enforcement of antidumping and countervailing duties.” - more

     South32’s operations boss moves into tech role - South32 has reshuffled its leadership deck, bolstering its commitment to innovation by promoting the head of its Australian operations to the newly created role of chief technology officer. - 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 news and information free of charge. Contact us

Tuesday, April 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $4.47/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just below the 375,000 tonne level. Nickel is not seeing any boost from Tropical Cyclone Debbie hitting Queensland, Australia last week, but we hear the price of coking coal from there has jumped. President Duterte was expected to reappoint Gina Lopez as Philippine the head of DENR yesterday and if he did, her confirmation hearings will be scheduled for May 3rd. Nickel slightly higher on overall market optimism after mostly positive ISM reports, and on a stronger Euro.
  • Average price of cash nickel so far this month - $4.52/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Zinc rebounds from 3-week low on hopes for China demand - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Global Stocks Fall After Weak Car Sales, Yen Rises: Markets Wrap - more

     US stainless sheet prices move up on mill hikes, high demand - US stainless sheet prices moved up to start April as mills lowered base price discounts and demand increased, sources said Monday - more

     AD and CVD Investigations of Stainless Steel Sheet and Strip from China – Publication of AD and CVD Orders - The U.S. Department of Commerce (DOC) published in todays’ Federal Register the antidumping (AD) and countervailing duty (CVD) orders on stainless steel sheet and strip from China. - more

     Japanese Mills Decline Request for Markdowns of CR Ferritic Stainless Sheets - Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian region are falling by $50-100 due to a fall in prices of nickel, and with this price down, pressures on markdowns of CR ferritic stainless sheets are also increasing. - more

     Chemical Change in Iron Ore May Have Sunk Giant Vessel - Over the weekend a tragedy unfolded suddenly in the South Atlantic. - more

  • Strange twist to mystery of missing cargo ship - more

     Indonesia mining min issues nickel ore, bauxite export recommendations for Antam - Indonesian Mining Ministry official said on Monday the ministry have issued export recommendation for state-controlled miner PT Aneka Tambang (Antam) to ship nickel ore and bauxite. - more

     Pollution watchdog slaps notices on two chromite mines of IMFA - Odisha State Pollution Control Board (OSPCB) has served notices on two chromite mines of Indian Metals and Ferroalloys (IMFA), the leading ferroalloys producer in the country. - more

     Courtesy AISI - n the week ending on April 1, 2017, domestic raw steel production was 1,692,000 net tons while the capability utilization rate was 71.4 percent. Production was 1,685,000 net tons in the week ending April 1, 2016 while the capability utilization then was 72.1 percent. The current week production represents a 0.4 percent increase from the same period in the previous year. Production for the week ending April 1, 2017 is down 1.9 percent from the previous week ending March 25, 2017 when production was 1,725,000 net tons and the rate of capability utilization was 72.8 percent. - more

     Middle ground on mining? - I have always said that on the matter of mining, there is no room for extreme positions. - more

  • Dominguez on Lopez: 'Being a secretary not like being a crusader' - more
  • Another war between Rody allies: Lopez vs Dominguez  - more

     Reader's View: Don't listen to the money men on copper mining - A letter to the editor March 3 ("Leave the copper nickel ore in the ground"), shared what was learned as a miner in Minnesota. - 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 news and information free of charge. Contact us

Monday, April 3

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $4.55/lb . Indicators at 6:35 am CST today show 3 month nickel trading flat and little changed. Stockpiles of nickel stored in LME approved warehouses rose on Friday and start the second quarter for 2017 just under the 376,500 tonne level. While nickel spent much of the month of February higher, the price of cash nickel ended March about where it started the year. Stockpiles actually grew in the first quarter, but only by approximately 4,000 tonne.
  • Average price of cash nickel so far this month - ($4.64/lb March average)
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Aluminium holds near 28-month high on worries over supply - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SO) Russia’s stainless steel imports up 64.4 percent in January-February
  • Peso seen falling to 51.80 to dollar in 12 months - more
  • Europe Stocks Rise Fifth Day, Pound Falls on Data: Markets Wrap - more

     Chinese Nickel Ore Imports: Snakes And Ladders? - China has played a pivotal role in global nickel ore trade, accounting for almost 90% of global imports over the last five years. - more

  • China Nickel Ore Prices to Hold Stable amid Thin Trading, SMM Predicts - more

     Stainless steel prices forecast to peak in April - According to MEPS, April’s austenitic stainless steel prices are predicted to represent the peak values for 2017, in Europe and North America. Alloy surcharges for grade 304 flat products will increase by around €50 per tonne, in Europe, and by US$15 per tonne, in the United States, next month. - more

     “Certainly, the acquisition of Jubilee as CEO of Xstrata Nickel was not our finest moment” - Great series of interviews by London-based advisory firm Stratum International in its new publication containing feedback from some of the global mining industry’s high-profile leaders on questions about their past, present and future. - more

     Norilsk Nickel wants tax deductions on its environmental investments - Siberian industrial giant Norilsk Nickel, one of Russia’s most polluting, has since 2014 been investing significant funds in unspecified environmental improvements, and this week request tax relief for those investments. - more

  • Norilsk Nickel sells its business center in Moscow for $100 million - more

     POSCO Chairman Pledges to Double Operating Profit in 3 Years - POSCO Chairman and CEO Kwon Oh-joon has pledged to almost double its consolidated operating profit from 2.8 trillion won (US$2.5 billion) last year to 5 trillion won (US$4.47 billion) within the next three years, declaring an aggressive management strategy. - more

     Clive Palmer is 'hosting a dinner for former President Barack Obama' - just days before he is due in court  - Clive Palmer has claimed he is hosting a dinner for former U.S. president Barack Obama in Boston next month. - more

     Northern Pivot: Why the Arctic is Set to Become Driver of the Russian Economy - Last week, President Putin took part in the fourth International Arctic Forum in Arkhangelsk, northern Russia. -  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 news and information free of charge. Contact us

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