This
page is archived news covering the period of August 2012
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Friday, August 31
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
$7.25/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading quietly and slightly higher as well. Overall,
base metals appear to be fading from earlier session highs. Stockpiles of
nickel stored in LME approved warehouses rose on Thursday and now total over
118,900 tonnes. Equity markets are mostly higher on hopes Bernanke may announce
QE3 later today in a speech to be given at Jackson Hole, Wyoming. Most analysts
appear to be skeptical the Federal Chairman will take such an action. We
find it very concerning that the Chinese stainless steel price index continues
to fall.
(PR) Universal Stainless & Alloy Products, Inc. today announced the
resignation of William W. Beible Jr. from his position with the Company in
order to pursue other interests. Mr. Beible had served as the Company's Senior
Vice President of Operations.
(China) Industry officials call for iron ore tax cut -
more
Western World
Molybdenum Production Q2-2012 = Down from Q1 reflecting softened market =
Production of molybdenum in concentrates during the Q2 (April - June) of
2012 was down from the Q1. The aggregate of production figures released by
the major western world producers, including some estimates, was 35.58 million
pounds in North America and 39.97 million pounds in Central/South America,
totaling 75.55 million pounds, down 3.6% from 78.38 million pounds produced
during the preceding quarter. -
more
Belevedere cuts
costs and boosts output to offset tough nickel market - Lower costs and better
than expected production from its Hitura mine in Finland helped Belvedere
Resources offset the impact of weak nickel prices in its latest quarter.
-
more
China extends
anti-dumping probe to steel tubes from EU, Japan - The Chinese Ministry of
Commerce said Friday it will extend anti-dumping investigations to
high-performance stainless steel seamless tubes from the European Union (EU)
and Japan for another six months -
more
Germany. ThyssenKrupp
Nirosta to introduce short-time working in Bochum from September - Due to
continuing weak orders at ThyssenKrupp Nirosta GmbH short-time working is
being introduced from September 2012. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, August 30
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
$7.39/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading mixed this morning. Stockpiles of nickel
stored in LME approved warehouses rose for a second day and now total just
over 118,650 tonnes. Reports so far today, show Japanese retail sales fell
and German unemployment has risen. World equity markets are mostly trading
lower, with US futures lower as well. Nickel's mini bull run appears to be
holding, helped somewhat by a stronger Euro today. Whether the higher prices
can hold or not, appears to be in doubt.
(China) Steel producers face bleak months ahead -
more
Highlands Pacific releases updates on Ramu Nickel Cobalt Mine -
more
NAS - Effective with
shipments September 1, 2012; North American Stainless is increasing prices
for all 201, 301 and 430 grade cold rolled products. This increase will be
achieved by reducing the functional discount by (2) discount points.
Nickel
Stockpiles Reach 16-Month High on Increase in Rotterdam - Nickel stockpiles
monitored by the London Metal Exchange reached a 16-month high on deliveries
into Rotterdam warehouses.-
more
European nickel
market weak but demand improvement anticipated - The European physical nickel
market remains quiet as the traditionally slow month of August continues
to see very little activity. -
more
Japan nickel imports
from Indonesia rise as delayed cargoes arrive - Japan's nickel imports from
Indonesia surged in July from the year before due to the arrival of cargoes
delayed after Jakarta imposed new mining regulations and because figures
for 2011 were decimated by the deadly earthquake and tsunami that hit in
March that year. -
more
Macquarie sees destocking
and weaker buying pressuring iron ore - Destocking and reduced purchasing
activity by larger and mid-sized mills could continue to pressure iron ore
prices in the near-term, according to a report issued Wednesday by Macquarie
Commodities Research. -
more
China Crude SUS
Production 7.082 Million Tons - First Half 2012 = Up 5% from the first half
of 2011, up in all alloy groups = According to Stainless Steel Council of
China Special Steel Enterprises Association, crude stainless steel production
during the first half of 2012 was 7.082 million tons. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, August 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
$7.37/lb. Indicators at 7:00
am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading lower this morning. That nearly 3000 tonnes
of rumored nickel did arrive at two ports on Tuesday and total stockpiles
now total over the 118,150 tonne level. This is the highest total recorded
since April 2011. Even with this
(Dow Jones) Carpenter Technology Corporation has commenced a process to sell
Latrobe Specialty Steel Distribution and its Mexican distribution business,
Aceros Fortuna.
Amur Minerals: Making real progress at Kun Manie nickel project -
more
China nickel
smelters seek cut in export tax, look overseas - Nickel smelters in China,
the world's top consumer of the metal, have been lobbying Beijing to reduce
or cancel a 15 percent tax on exports as they look to sell more of their
output overseas, sources said. -
more
Lowering
duties but imposing quotas for stainless steel imports to Russia - According
to SpetsStal's appraisal, stainless steel imports to Russia in July 2012,
compared with the previous month's result, rose 10.0% to 21,160 tons. -
more
Japan Ferrochrome
Demand/Supply - First Half 2012 = Consumption down with the high-carbon and
up with the low-carbon = Demand and supply of ferrochrome in Japan during
the first half (January - June) of 2012 were as per the table attached hereto.
-
more
China's Baosteel
expecting "most difficult" third quarter - Baoshan Iron and Steel , China's
biggest listed steelmaker, expects the third quarter to be the "most difficult"
of the year, but the company should avoid any losses over the period, executives
said on Wednesday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, August 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Nickel was untraded on Monday as the LME was closed for a
holiday. Indicators at 7:00 am CST today show 3 month nickel trading
around $.07/lb lower,
with other London traded base metals trading lower as well. Stockpiles of
nickel stored in LME approved warehouses rose over the weekend, and now total
just under 115,250 tonnes. Global slowdown fears are top topic today as Japan
lowers its growth forecasts and Spain reports its recession is getting worse.
Markets are watching the meeting in Jackson Hole, Wyoming closely although
ECB President Mario Draghi's cancellation has lowered expectations.
(SA) According to SpetsStal's estimate, stainless steel imports to Russia
in 1H 2012, compared to the equal period of 2011, decreased 6.6% to 106.2
thousand tons.
(FAN) U.S. distributors' shipments of stainless steel sank to their lowest
level this year in July, historically a slow month due to summer vacations
and shutdowns.
(FAN) It is reported that ThyssenKrupp AG plans to sell its Alabama and Brazilian
mills separately for at least the book value, which is about USD 8.8 billion
combined.
Toledo see benefits from Berong nickel mine -
more
China’s MMG
Sees Mining Boom Shifting Gear - Chinese mining group MMG on Tuesday said
the era of sharply increasing metals prices had passed, but predicted activity
in China would pick up after the leadership transition in Beijing. -
more
Japan Crude SUS
Production Declines 2% - First Half 2012 = 1,769,969 tons; fairly high output
only in April otherwise sunken below 300,000-ton-per-month level = Crude
stainless steel production during the first half (January - June) of 2012
by the 7 major Japanese stainless steel mills was 1,769,969 tons, down 2.3%
from 1,812,483 tons produced during the same period of 2012. Details are
as per the table attached hereto. -
more
Lundin restarts
production from Aguablanca mine - Canadian base metal miner Lundin Mining
Corp said on Monday it has restarted production from Aguablanca, nearly two
years after heavy rains caused a landslide at the nickel-copper mine in Spain.
-
more
BHP takes razor
to WA nickel - BHP Billiton will scour its WA nickel operations for more
savings in an attempt to wait out sharp falls in commodity prices, after
the sale of its Yeelirrie uranium deposit raised fresh questions about its
commitment to its marginal WA operations. -
more
Russian President
Vladimir Putin Hailed Valiant Work of MMC Norilsk Nickel Miners - On the
eve of Miner’s Day, Honored Miner of Russian Federation title was conferred
on four employees of OJSC MMC Norilsk Nickel (hereinafter – the Company).
Corresponding decree was signed by Russian President Vladimir Putin on July
12. -
more
Valley of the Dinosaurs
no more - President Vladimir Putin’s comments about warring shareholders
at Norilsk Nickel last week may have surprised some. -
more
Courtesy AISI - In
the week ending August 26, 2012, domestic raw steel production was 1,863,000
net tons while the capability utilization rate was 75.4 percent. Production
was 1,851,000 tons in the week ending August 26, 2011, while the capability
utilization then was 75.7 percent. The current week production represents
a 0.6 percent increase from the same period in the previous year. Production
for the week ending August 26, 2012 is down 0.7 percent from the previous
week ending August 18, 2012 when production was 1,876,000 tons and the rate
of capability utilization was 75.9 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, August 27
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
$7.47/lb , down $5/tonne
for the day, $.38/lb higher for the week, and $.33/lb higher from a month
earlier. The London Metal Exchange is closed today for Summer Bank Holiday.
(SMM) According to latest data from China Customs, China’s imports of
unwrought nickel and nickel alloys in July were 13,672 mt, down 28% YoY,
while YTD imports through July were 85,077 mt, down 28.08% YoY.
Commodity trader Noble in base metals push with new team -
more
Low nickel
price not sparking fears of production shutdown - Many Sudbury Star readers
aren't worried about a shutdown at Vale or Xstrata, even after a mining analyst
speculated that low nickel prices could lead to just that. -
more
Russia's
Non-Ferrous Metals Exports Rose Through July - Russia’s exports of
non-ferrous metals, including primary aluminum, refined copper and non- refined
nickel, rose in the first seven months compared with a year earlier, the
Economy Ministry said in a document on its website today. -
more
Japan Ferromolybdenum
Supply/Demand - First Half 2012 = Consumption up as special steel production
rose = Japan's production, consumption and imports of ferromolybdenum during
the first half (January - June) of 2012 are as per the table attached hereto.
-
more
China steel output
jumps 400% in 10 years - Steel output of China hits record as production
goes up by 400% in 10 years. -
more
Cuban Forests Recover
over 1000 Hectare of Mining Land - Cuban nickel mining enterprises
returned some 1 062 hectare of used land in 2011 to be planted with trees,
said Ernesto Mastrapa, specialist of the delegation of the Ministry of Science,
Technology and Environment (CITMA) in the eastern province of Holguin. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, August 24
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
$7.47/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher and trending
higher, with other London traded base metals trading mixed and mostly quiet.
Stockpiles of nickel stored in LME approved warehouses fell again on Thursday
and now total just over 114,500 tonnes. Metal Bulletin is reporting there
is a rumor floating around that the Vlissingen warehouse may be receiving
30,000 tonnes of nickel in the coming weeks. That would be a staggering amount
if true, and could put downward pressure on nickel prices. So far today,
nickel traders appear to be dismissing the rumor, and a lower Euro, and trying
to milk as much out of this mini bull run as they can. Some potential newsmaker's
are at sea - Tropical Storm Isaac is the baby of the bunch, Typhoon Tembin
is a threat that appears to be lessening (to Taiwan) and Typhoon
Bolaven has the potential to become very dangerous to landfall next week
(to China, Korean peninsula) -
Hurricane
Watch. Have a safe and relaxing weekend.
(China) 'Food will cost more' due to US drought -
more
China’s
metals imports reflect supply as well - Once again the strength of China’s
metallic imports has surprised many commentators. -
more
China's demand for
metals to gain in H1 - Metals consumption in China, the world's biggest user,
is expected to climb in the second half on easier availability of credit
and rising investment and seasonal demand, according to China International
Capital Corp. -
more
Watchdog ruling
in dispute with Rusal over Norilsk Nickel documents approved - The Moscow
Commercial Court has upheld the financial markets watchdog's refusal to open
an administrative case against Norilsk Nickel, the court told the Russian
Legal Information Agency on Friday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, August 23
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
$7.29/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals higher as well. Stockpiles of nickel stored in
LME approved warehouses fell on Wednesday, and now total just under 114,850
tonnes. Base metals are trading higher this morning after the minutes from
the most recent US Federal Reserve meeting showed members may be nearing
QE3, and a Flash PMI report from China this morning, hints China may be forced
to add further stimulation to their economy as well.
(Interfax) China's imports of nickel ore and concentrate increased in July
amid lower prices, with imports from the Philippines continuing to rise following
the introduction of export restrictions in Indonesia.
(JMD) Cold-rolled Ni stainless steel market price/ Continues to drop by 5
thou yen in Kanto
(MBN) Taigang, Baosteel make big stainless steel price cuts for September
Container Lines Losing Price Battle as Costs Overwhelm: Freight -
more
Brazil mine bill eyes regulator, mineral rights auctions -
more
(China) Steel prices fall to lowest level in three years -
more
DMCI eyes
more acquisitions - Consunji-led DMCI Holdings Inc. is eyeing more acquisitions,
particularly nickel mines in Palawan, Davao and Zamboanga, according to a
top company official. -
more
Nickel is found
to make all the difference to cows - Research into the addition of nickel
to pasture and to feed for dairy cows is being carried out on a small Taranaki
farm. -
more
Nickel
Oxide Finally Turned into Metal - Though scientists have been studying nickel
oxide for many years, they have thus far been unable to induce the compound
into a metallic state. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, August 22
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
$7.17/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals mixed and quiet. Stockpiles of nickel fell on Tuesday
and now total just under the 115,600 tonne level. Greece prime minister Antonis
Samaras is asking for "a little room to breathe" on its austerity targets,
and warns that its exit from the Eurozone could cause the end of democracy
in his country. All eyes will be on the release of the minutes of the Federal
Reserve’s latest policy meeting today, to see how the Fed sees the economy.
Iron Ore Price to Rebound as China Seeks Cheaper Imports -
more
Clive Palmer appreciates that patience is a virtue - and so do his guests
-
more
Recognition Of
'Bottom In Aug.' On Prices Of Austenitic Stainless CR Sheets Is Increasing
- Prices of austenitic cold-rolled (CR) stainless steel sheets in the Asian
area are hovering mostly at $2,550 to 2,600 CFR. Korea's POSCO, Taiwan's
YUSCO and so on are proceeding with negotiations at this level for September
shipment. -
more
Cuba convicts
12 of corruption in nickel industry - A Cuban court has convicted a dozen
people of corruption, including high-ranking government officials, an executive
at a state-run nickel company and workers from a project operating under
a Cuban-Canadian joint concern, official media announced Tuesday. -
more
Courtesy AISI - In
the week ending August 18, 2012, domestic raw steel production was 1,876,000
net tons while the capability utilization rate was 75.9 percent. Production
was 1,851,000 tons in the week ending August 18, 2011, while the capability
utilization then was 75.7 percent. The current week production represents
a 1.4 percent increase from the same period in the previous year. Production
for the week ending August 18, 2012 is down 1.2 percent from the previous
week ending August 11, 2012 when production was 1,899,000 tons and the rate
of capability utilization was 76.9 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, August 21
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
$7.05/lb. Indicators at 7:00
am CST today show 3 month nickel trading around $.05/lb
higher, with all London
traded base metals trading higher this morning on a higher Euro. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now totals
just over 115,650 tonnes. Markets are rallying this morning on speculation
the European Central Bank may resume bond buying to bring borrowing costs
down. Another band-aid?
Bear Market in Tin Shuts 70% of Indonesian Capacity: Commodities -
more
(MF) According to data released by Stainless Steel Council of China Special
Steel Enterprise Association (CSSC), China’s crude steel output totaled
7.082 million tons in the first half of this year, rising by 5.25% in comparison
of that in the same period of a year earlier.
Glencore
says Xstrata "not a must-do deal" - Glencore's $30 billion bid for miner
Xstrata is not a "must-do deal" its chief executive said on Tuesday, in the
company's strongest suggestion yet that it will not yield to key shareholder
Qatar's demands for an improved offer. -
more
China nickel
ore imports from Indonesia fall 29.4 pct in July - Chinese imports of nickel
ore from Indonesia in July fell 29.4 percent from the previous month to 1.42
million tonnes, after posting a 50 percent drop in June, customs data showed
on Tuesday. -
more
Australia's
QNI nickel refinery turns to loss - Australia's QNI nickel refinery showed
a loss in the first months of fiscal year 2013 after posting a modest profit
in 2012, Clive Palmer, chairman of privately held Mineralogy Ltd, said on
Tuesday. -
more
Japan Crude
Steel Production By Mill January - May 2012 = 33.73 million tons, down 2.5%
from the same period of 2011 = Crude Steel production during the first five
months of 2012 by 6 major steel mills was 33.735 million tons, down 2.5%
from 34.582 million tons recorded in the same period of 2011. -
more
Putin wades
into Norilsk Nickel fight - In a surprising move, President Vladimir Putin
said on August 20 that he hopes the long-running shareholder conflict at
Norilsk Nickel will be resolved soon. His sudden decision to step into a
conflict that appears to be simmering down prompts speculation that the
government may be ready to plug the hole in the Kremlin.Inc portfolio. -
more
Metal thieves
ravage more than a third of Camden school buildings - Metal thieves have
knocked out the heating, ventilation, and air-conditioning units in more
than a third of Camden school buildings since fall, leading district officials
to wonder how they will pay for replacements. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, August 20
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
$7.09/lb
after a
late session spike. This gave nickel an $.11/lb increase for the week,
but a $.17/lb decrease from a month earlier. Official cash nickel has
averaged $6.9987/lb so far this month, as of Friday. Indicators at 7:00 am
CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose on Friday, and now total just over the 115,750
tonne level. Metals are trading lower this morning as the Euro weakens.
Vale says 'no plans'
to shut down operations - As senior mining analyst at Salman Partners, an
investment dealer, Raymond Goldie keeps a close eye on the nickel industry.
-
more
Western
Areas positive on nickel price - Miner Western Areas says it is confident
nickel prices will recover this year after heavy falls caused its full year
profit to slump 70 per cent. -
more
Drop in nickel
prices temporary, profs say - There may have been a drop in nickel prices
in recent months, but there's not much to worry about in the long term, as
prices are likely to rise again, according to two Laurentian University
professors. -
more
China daily
steel output rises unexpectedly in early Aug - China's daily crude steel
output rose 1.1 percent in early August from late July, belying expectations
for a modest fall, as many steel mills resumed production after a round of
brief maintenance in mid-July, industry sources said. -
more
Japan Ferroalloy
Market Report - August 10, 2012 = Molybdenum oxide price dips to below US$11/lb
on short sales = Market situation of ferroalloys in Japan as of August 10,
2012 is as follows. -
more
Putin hopes
for settlement between Nornickel major shareholders - President Vladimir
Putin has expressed hope that the Norilsk Nickel Mining and Metallurgical
Company's major shareholders will reach a settlement in favor of the company
and its personnel. -
more
MV Miner has been
stripped of metals: company - A company that has committed to dismantling
a ship that’s been stranded off Cape Breton for almost a year is accusing
another firm of stripping the vessel of all of its valuable metals. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, August 17
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
$7.04/lb, helped by a late surging
Euro. Indicators at 7:00 am CST today show 3 month nickel trading around
$.00/lb unchanged,
with other London traded base metals higher. Stockpiles of nickel stored
in LME approved warehouses fell for a sixth consecutive session and according
to Fastmarkets, now totals 114,900 tonnes. Nickel is struggling to hold on
the $7/lb level today as the Euro trades lower.
(MF) According to statistics released by the Japan’s Ministry of Finance,
the country’s imports of nickel mines totaled 391,250 tons in June,
rising by 7.6% from a month earlier and soaring substantially from 170,550
tons in June, 2010.
Steel products see
declining output in July - Output of most steel products declined on a monthly
basis in July amid weak demand and lower prices, with rebar production edging
down 0.99 percent from a record high the previous month, show Mysteel figures
released Tuesday. -
more
BNC faces liquidation
- Bindura Nickel Corporation (BNC) faces possible liquidation if its employees
do not accept a settlement plan involving cash and shares to settle back-pay
liabilities and retrenchment packages, COO Batirai Manhando said. -
more
U.S. Service Center
Activity - U.S. Service Centers shipped 3,288.9 thousand tons of steel products
in the month of July, 2012. -
more
Petco recalls stainless
steel food bowls - Pet owners who thought feeding their four-legged friends
from stainless steel bowls was the best option, apparently have another think
coming. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, August 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.93/lb
. This
is the second lowest close since July 2009, and the fourth time this month
nickel has closed below $7/lb. Cancelled warrants jumped on Tuesday
to 13.49%. Indicators at 7:00 am CST today show 3 month nickel trading around
$.01/lb higher, but
trending lower, with other base metals trading mixed and quiet. Stockpiles
of nickel stored in LME approved warehouses fell for a fifth consecutive
session and now total just over 115,050 tonnes. Markets are struggling to
find a direction today.
(Dow Jones) The global nickel market was in surplus by 56,000 metric tons
in January to June, the World Bureau of Metal Statistics said Wednesday.
This compares to a 7,000 ton surplus over the whole of 2011.
Copper Swings Between Gains and Losses on China Easing -
more
Ruukki upgrades outlook due to stabilising ferrochrome market -
more
European molybdenum
prices to stay weak-traders - Pockets of steady demand for molybdenum in
northern Europe are unlikely to lift prices for the metal used in steelmaking
from near three-year lows, due to adequate supply and weak demand until the
end of the year, traders said. -
more
Talvivaara hit
by nickel output problems, low prices - Finnish miner Talvivaara reported
a big rise in second-quarter losses on Thursday, hit by production problems
and depressed nickel prices, and also cut its output forecast as unusually
heavy rain this summer continued to hamper operations. -
more
The London Metal
Exchange Ltd. : LME’s cobalt and molybdenum contracts hit $1.0 billion
national turnover - The London Metal Exchange (LME) minor metals contracts
have reached $1.0 billion in national turnover. Cobalt and molybdenum have
traded 7,748 lots so far in 2012 (equivalent of $291 million), with a total
of 22,161 lots traded since launch (equivalent of $1.0 billion). -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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Wednesday, August 15
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
$7.01/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals lower as well. Stockpiles of nickel stored in LME
approved warehouses fell for a fourth straight session and now totals just
over 115,400 tonnes. The Euro is trading lower this morning, down over 1/3
of 1% against the US Dollar, following reports that the Greek government
may request more time to implement austerity measures. US futures are lower
as well. Nickel has surrendered the $7/lb level again.
(MF) South Korean steel giant Posco planned to continue reducing production
of stainless cold rolled coils (CRC) to stabilize market prices as the domestic
retail prices have almost touched the bottom.
(Reuters) Finnish stainless steel maker Outokumpu said on Wednesday it had
received an environmental permit to expand ferrochrome production at its
Tornio site in northwestern Finland.
Base metal output
declines in July – China’s output of most base metals declined
in July on the back of soft demand, low treatment and refining charges and
a gloomy price outlook amid the ongoing slowdown in the national economy,
show data released by the National Bureau of Statistics (NBS) on Monday.
- more
Iron Ore-At
lowest in more than 2-1/2 years on China pessimism - Limited buying interest
from top consumer China drove spot iron ore prices to their lowest since
December 2009 amid sluggish Chinese steel demand that is preventing a rebound
in iron ore, even after it has slumped more than 18 percent this year. -
more
Catholics take stand
against seabed mining - The Catholic Bishops’ Conference has joined
several non-governmental organisations in making a stand against deep-sea
mining and called on the government to stop the project. -
more
New Caledonia
facilities go live with Tideworks TOS - Tideworks Technology has announced
that both Vale New Caledonia, at Prony Port in New Caledonia, and GIVE
Nouméa Port, also in New Caledonia, have gone live with Tideworks’
terminal operating system (TOS) solutions. -
more
North American
Nickel Begins Work On Maniitsoq Nickel Project - North American Nickel Inc.
announced it has commenced field work on its Maniitsoq nickel project. -
more
Zimbabwe: BNC
Workers Granted 'Extra Time' - Mwana Africa's Bindura Nickel Corporation
says it has given its employees additional time to consider the firm's offer
in respect of the proposed US$21 million rights issue. -
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)
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Tuesday, August 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.97/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.08/lb
higher, with other
London traded base metals mostly higher as well. Stockpiles of nickel stored
in LME approved warehouses slipped for a third consecutive session and now
totals just under the 115,900 tonne level. Better than expected growth figures
from Germany and France are providing a boost for over sold nickel, as well
as most base metals. Market is fighting to keep nickel above the $7/lb threshold
and it appears they will be successful today.
(FAN) China's high-carbon ferrochrome prices lost further ground this week
as buyers remained inactive, dragging prices down to the lowest level yet
in 2012.
(Interfax) China’s daily steel output edged down in July as prices fell
to production cost or below, prompting producers to undertake maintenance
or suspend output.
(TCW) Australian nickel producer Proto Resources & Investments said on
Tuesday it had signed an option agreement with mining company NI-AL to acquire
a 50% stake in a previously drilled nickel project in Albania’s Kukes
region.
Small-Business Optimism Continues to Decline in July -
more
Aug. 13,
1913: Great Alloyed Victory for Stainless Steel - English metallurgist Harry
Brearley casts a steel alloy that’s resistant to acidity and weathering.
-
more
Liberty Mines halts
production on low nickel prices - Canada's Liberty Mines Inc temporarily
suspended production due to low nickel prices. -
more
Indonesia Reviews
Plans for $550b in Smelter Investments - A ban on the export of raw mineral
ores from Indonesia due to take effect in 2014 has accelerated plans for
investment in smelters in the resource-rich country. -
more
Philippines
Agency Plans to Sell Mining Assets: Southeast Asia - The Philippines will
sell stakes in mining holdings as President Benigno Aquino seeks to nudge
forward efforts to boost investment after two years in office. -
more
Seabed mining opposed
by MPs - Canadian firm Nautilus Minerals, the developers of the proposed
Solwara 1 sea-bed mining project are in for a fight as the people of Madang
are dead set against this project. -
more
Courtesy AISI - In
the week ending August 11, 2012, domestic raw steel production was 1,899,000
net tons while the capability utilization rate was 76.9 percent. Production
was 1,851,000 tons in the week ending August 11, 2011, while the capability
utilization then was 75.7 percent. The current week production represents
a 2.6 percent increase from the same period in the previous year. Production
for the week ending August 11, 2012 is up 1.9 percent from the previous week
ending August 4, 2012 when production was 1,863,000 tons and the rate of
capability utilization was 75.4 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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Monday, August 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.98/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals quietly lower as well. Stockpiles of nickel stored
in LME licensed warehouses fell on Friday and now totals just over the 116,000
tonne level. Mixed economic news has put further stimulus chance doubts into
the market, which is putting pressure on metals even with the Euro 1/2 of
1% higher this morning against the US Dollar. Nickel appears to be in oversold
territory so we expect to see some recovery this week.
(Interfax) Baoshan Iron & Steel Co. Ltd. (Baosteel), the listed unit
of leading Chinese steelmaker Baosteel Group, will cut ex-works prices for
a third consecutive month in September amid slowing economic growth in China
and weak domestic demand, the firm said on Aug. 10.
Jinchuan, China's largest producer of nickel, has revised down for the fifth
time in a month the price of refined nickel, returned on August 9 to 112,000
yuan (14,300 euros) per tonne, against 124,000 yuan (15,839 euros) on July
10.
China's property market to cool down: experts
- more
Vale Weighing Nickel
Means Iron Focus: Corporate Brazil - Vale SA forecasts it will miss base-
metals output targets for a second year, fueling calls from analysts for
the company to sell at least part of the business plagued by strikes and
sinking prices.-
more
Villagers
back mining - Despite the anti-mining protest of Save Manicani Movement (Samamo),
residents here supported the proposed mining operations of the Samar Nickel
Mining Resources Corporation . -
more
Trojan Nickel
Mine Funding Update - On 7 June 2012 Mwana announced the intention of Bindura
Nickel Corporation ("BNC"), Mwana's 52.9% owned subsidiary, to carry out
a rights issue to raise USD21 million.-
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)
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Friday, August 10
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
$7.02/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.08/lb
lower, after lower
than expected Chinese trade data spooks world markets. Stockpiles of nickel
held in LME approved warehouses slipped on Thursday and now total just under
116,700 tonnes. Nickel opened lower on the poor Chinese data and has trended
lower since. European markets are trading lower this morning and US futures
are lower as well. The hopes that any bad economic news will force governments
to try more stimulus, will temper downturns.
(MF) Japan exported 604,500 tons of stainless steel in the first half of
2012, down 8.7% from 659,115 tons in the same period a year earlier.
(Dow Jones) U.S. nickel exports fell 4.9% in June from the previous month,
and was down 22.3% from the previous year, the Commerce Department reported
Thursday.
(Dow Jones) U.S. nickel imports fell 31.2% in June from last month, and was
down 14.3% from the previous year, the Commerce Department reported Thursday.
Greece sacks state
company head for not cutting salaries - Greece sacked the head of its state
nickel producer LARCO on Thursday for refusing to reduce workers' pay, the
first state company chief to lose his job in the fight to cut costs and stay
hooked up to an international bailout. -
more
ASIA MOLY OXIDE:
Market quiet ahead of Posco tender - No deal, firm bid or offer for molybdenum
oxide powder was reported in Asia Thursday, with South Korean sources planning
to participate in the Posco Specialty Steel tender intending to seek offers
Friday after it closes. -
more
China Molybdenum
Concentrates Production Up First Half 2012 = 63,305 tons, up most in Liaoning
= According to Antaike, one of the leading research and analysis companies
in China, production of molybdenum concentrates in China during the first
half (January - June) of 2012 was 63,305 tons of molybdenum in the concentrates,
up 18.6% from the same period of 2011, indicating that the country's production
is an increasingly upward trend. -
more
Vale Seeks
Govt Vow Before Sulawesi Plan - The country’s largest nickel producer,
Vale Indonesia, says it will need assurances from the government on contract
details before going ahead with its gigantic investment plan in Sulawesi.
-
more
Vale Puts Nickel on Hold After Prices Drop: Corporate - Vale SA forecasts
it will miss base- metals output targets for a second year, fueling calls
from analysts for the company to sell at least part of the business plagued
by strikes and sinking prices. -
more
Chinese Company
to Build 600 mln USD Ferronickel Smelter in Indonesia - China's Dafeng Port
Group will invest up to 600 million U.S. dollars to build a ferronickel smelter
in Kendari, capital of Southeast Sulawesi province, an executive said 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)
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info, or become available to subscriber's only. We encourage our readers
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Thursday, August 9
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
$7.10/lb, down $ only $10/tonne
from Tuesday's close. Indicators at 7:00 am CST today show 3 month nickel
trading around $.08/lb
lower, with other London traded base metals lower as well. Nickel stockpiles
rose on Wednesday and now total just over 116,800 tonnes. European markets
have slipped lower as the Euro drops, and US futures have turned negative.
Markets are awaiting important Chinese trade data tomorrow and the possibility
the Chinese government will need to loosen its monetary policy further, ie
stimulation. The European Central Bank slashed its European economic growth
forecasts for 2013 a day after the French central bank forecast France will
slip into recession during the third quarter.
Metal Bulletin is reporting some Chinese nickel producers have ask their
provincial governments to request China buy some of their nickel output,
because of of light demand and low prices.
Stainless raw steel
output in 1H2012 amounts to 7.082M tons - China Special Steel Enterprises
Association - Stainless Steel Council of China Special Steel Enterprises
Association announced that China's stainless raw steel output from January
to June 2012 amounted to 7.082 million tons. -
more
Chrome ban protecting
China interests: Kombayi - The ban on exports of raw chrome is only meant
to protect the interests of large corporations such has the Chinese-owned
ZIMASCO, a Gweru businessman has claimed. -
more
Cossacks, Activists
Unite Against $6Bln Mining Project - Environmental activists hope growing
local discontent will persuade President Vladimir Putin to block Ural Metal
and Mining Company's plans to extract $6.7 billion worth of nickel near the
Khoper River in the Voronezh region. -
more
Queensland Nickel
asks suppliers to share pain - Clive Palmer’s Townsville nickel refinery
has urged its suppliers to cut their prices by 15%, according to a report
in the Australian newspaper. -
more
South
Korea bought 300 tonnes of tin and 300 tonnes of nickel for arrival by Oct.
30 via tenders on Thursday, the state-run Public Procurement Service said
on its website (www.g2b.go.kr). -
more
Russia Opens Arctic
Norilsk Nickel Port to International Traffic - Russia opened OAO GMK Norilsk
Nickel’s Dudinka port in the Arctic to international cargo and passenger
traffic, making it the northernmost such facility in the world, Norilsk said
in a statement today. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
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Wednesday, August 8
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
$7.14/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with all other
London traded base metals lower as well. Stockpiles of nickel store din LME
approved warehouses fell on Tuesday and now total just over 116,600 tonnes.
The Euro is trading 1/3 of 1% lower against the US Dollar, and equity markets
in Europe are lower as well. Futures show US markets may open lower as well.
(TA) As much as 40 per cent of the global industry, including BHP in WA,
is losing money at current prices of $US7 a pound for the stainless steel
ingredient [nickel].
(MF) According to data released by the Japanese customs, Japan’s imports
of stainless steel totaled 90,072 tons in the first half of this year, falling
by around 4% year on year.
China Molybdenum
Trade - First Half 2012 = Exports: 8.67 million pounds; Imports: 6.29 million
pounds = According to China's Customs Statistics, trade figures of molybdenum
during the first half (January - June) of 2012 were, Exports: 8.671 million
pounds and Imports: 6.289 million pounds. -
more
Western Areas
May Curb Exploration to Offset Nickel Prices - Australian nickel-mining company
Western Areas N.L. will likely curb exploration this year as depressed prices
for the industrial metal continue to weigh on producers' earnings, Managing
Director Dan Lougher said. -
more
Australia's
Fortescue says mine skills shortage easing - An acute skills shortage in
the Australian iron ore sector, often blamed for hindering new developments,
was showing signs of easing, mining executives said on Wednesday. -
more
Rio sticks
to spending plan on hope of China pickup - Global miner Rio Tinto stuck to
its $16 billion spending plans, despite first-half profit falling by a third,
predicting a modest pickup in the Chinese economy later this year that should
stimulate demand for iron ore. -
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)
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Tuesday, August 7
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
$7.17/lb
. Nickel
jumped late Monday afternoon when US markets opened higher. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading higher. Stockpiles of nickel stored in
LME approved warehouses rose for a second consecutive session and now total
just over the 116,650 tonnes level. Markets appear to be quiet and mostly
higher this morning.
Miners face cold reception from lenders at key Australian meet -
more
Nickel Asia 2012 first half net income down 26% amid low nickel prices -
more
Global stainless
steel output to rise driven by the growth in China and India - Albanian Minerals
forecasts stainless steel output will rise to 35 million tons in 2012 from
32.1 million tons in 2011. -
more
Nickel miner
positive despite sector asset write off - The WA miner, Independence Group,
says it remains positive about the future of the nickel sector, despite its
main customer BHP Billiton writing down the value of a major nickel operation
in WA. -
more
China Overtakes
South Africa on Ferrochrome Output, Merafe Says - China overtook South
Africa as the largest ferrochrome producer this year, according to Merafe
Resources Ltd., which has a joint venture with Xstrata Plc.-
more
Merafe earmarks 2013 budget for chrome export levy – Merafe Resources
set the National Treasury's budget announcement in February 2013 as a possible
milestone in its campaign to introduce a levy on chrome exports. -
more
Xstrata’s
First-Half Profit Falls 33% on Weaker Metal Prices - Xstrata Plc, target
of a $28 billion takeover bid by Glencore International Plc, said first-half
profit dropped 33 percent after commodity prices declined.
- more
Global nickel consumption to improve in next six months: Xstrata - Xstrata
expects global nickel consumption from the stainless steel sector to improve
in the next six months, the nickel division of the Switzerland-based mining
group said Tuesday. -
more
As nickel
quarry opponents grow, Canadian miner eyes the press - The head of the Agrarian
Reform farmers grouped in CNPRA yesterday joined the voices opposed to mining
for nickel at Loma Miranda, and warning that if it occurs, many of the farms
in the Cibao valley are doomed to disappear, mostly those which require
irrigation. -
more
China Companies
Invest in Indonesia Nickel Projects -Association - Three Chinese companies
are building and providing smelting technology to two nickel processing projects
in Indonesia, the China Nonferrous Metals Industry Association said Monday.
-
more
Courtesy AISI - In
the week ending August 4, 2012, domestic raw steel production was 1,863,000
net tons while the capability utilization rate was 75.4 percent. Production
was 1,844,000 tons in the week ending August 4, 2011, while the capability
utilization then was 75.4 percent. The current week production represents
a 1.0 percent increase from the same period in the previous year. Production
for the week ending August 4, 2012 is up 0.9 percent from the previous week
ending July 28, 2012 when production was 1,846,000 tons and the rate of
capability utilization was 74.7 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
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Monday, August 6
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
$7.08/lb. Trading ended solidly
higher on Friday after a strong jobs report from the US helped the Euro jump
to trade 1.6% higher against the US Dollar by day's end. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with most
other London traded base metals trading lower as well. Nickel has been trading
narrowly within a $100 or so per tonne band this morning, with traders looking
for a direction. The Euro is trading 1/10 of 1% lower against the US Dollar
with Italian and Spanish borrowing costs down slightly this morning.
(CSSC) CSSC released China stainless steel production and consumption in
the first half year of 2012 in the last week. The crude stainless steel output
is 7.08 million metric tons. The imported stainless steel is 387.9 thousand
metric tons, the exported stainless steel is 1 million metric tons. The apparent
consumption is 5.61 million metric tons
Speculators Lift Wagers in Longest Streak on Record: Commodities -
more
ADB says mining companies not paying enough in PNG -
more
China mineral shortages good news for Australia -
more
(China) Concern increases over local stimulus -
more
China's 2012 Steel
Output May Fall; 1st Time in 31 Years - China's crude steel output may fall
for the first time in 31 years this year, a senior industry analyst said
Monday in a report also published on the state-backed China Iron and Steel
Association's website. -
more
Japan Ferroalloy
Market Report - July 31, 2012 = EF Mills' August SiMn Price Softens = Current
market situation of ferroalloys in Japan as of July 31 is as follows. -
more
Eight nickel
shipments completed from Berong output in H1 - Toledo Mining Corp. Plc. completed
eight shipments of nickel ore in the first half from output produced at a
Palawan project, the miner said last week. -
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)
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Friday, August 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.92/lb
, tanking
with the Euro after the ECB failed to produce a magic wand to cure all of
the EU's problems. Indicators at 7:00 am CST today show 3 month nickel trading
around $.08/lb on a
higher Euro. Other base metals are trading mixed and traders are waiting
to see what the job numbers from the US reveal. Stockpiles of nickel stored
in LME approved warehouses fell for a second day and now total just over
115,300 tonnes. US futures are higher as investors look to a weak jobs report
as putting further pressure on the Fed to add further stimulus to the economy.
The again, if the numbers are positive, traders may look to this as good
news of the overall economic picture.
BHP to Take
$3.3 Billion in Charges on Shale, Nickel Assets - BHP Billiton Ltd., the
world’s biggest mining company, will book one-time charges totaling
$3.3 billion on the value of its U.S. shale gas assets and nickel operations
in Australia because of falling prices. -
more
BHP reviews Australian nickel - BHP has completed a full year assessment
of its Australian nickel assets. -
more
Resurrected
nickel mine 'on track' - First Quantum Minerals' resurrection of the Ravensthorpe
nickel mine is well on track, according to the Canadian company's latest
quarterly report, which said the operation in WA's south east was running
at a profit despite the crash in global nickel prices this year. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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Thursday, August 2
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
$7.05/lb
. Nickel
trended lower thru yesterday's entire session. Indicators at 7:00 am
CST today show 3 month nickel trading around $.02/lb
higher, with other
base metals trading mostly quietly lower. Stockpiles of nickel fell for the
first time in seven trading sessions and now total just under 115,600 tonnes.
The Euro is trading higher this morning as investors look to the ECB to take
bold action today, after the U.S. Fed disapointed yesterday.
Why does bad news mean good things on Wall Street? Angus Campbell, head of
market analysis at Capital Spreads, put it this way yesterday "Another day
of dire economic data gave equity markets a boost today as investors became
more convinced that it is now most definitely a matter of when, rather than
if, central banks will introduce further stimulus measures."
New cool for Russia's super-rich: slumming it -
more
LME to Introduce
New Nickel, Tin Deliveries From April 2013 - The London Metal Exchange will
introduce new levels for the minimum amount of nickel and tin that warehouses
must deliver every day. -
more
LME to increase amount of deliverable tin, nickel to 60 mt/day - The London
Metal Exchange is to increase the amount of tin and nickel delivered out
of its registered warehouses as of April 2013, the LME said in statement
Wednesday. -
more
Molybdenum Oxide
Price On The Verge At US$12/lb = The lowest since October 2009 = The lowest
price of molybdenum oxide during the fourth week of July (week 30) was
US$12.00/lb, on the brink of slipping down to 11's. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
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Wednesday, August 1
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
$7.20/lb. Nickel sank
on Tuesday as European and American equity markets grew nervous that their
recent bets that the Fed would take immediate action did not materialize.
Nickel was the hardest hit of the LME traded base metals on Tuesday. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose for a sixth consecutive session and now totals
slightly just under 115,900 tonnes. Metals are lower as the Euro strengthens
in reaction to disappointing PMI numbers from China and Europe. Markets are
awaiting to see if the Fed will announce any further stimulation measures
today as their two day meeting comes to an end, and then attention will shift
to the European Central Bank meeting on Thursday.
(Dow Jones) The global steel industry is suffering from a "huge oversupply
of products" which has led steel mills worldwide to produce at below their
installed capacity levels, the chief executive of Brazilian steelmaker Usinas
Siderurgicas de Minas Gerais SA, or Usiminas, said Tuesday.
Winds of change sweeping through government, private organisations -
more
China Manufacturing Teeters Close to Contraction -
more
Japan Ni-Alloyed
SUS Scrap August Price Slides = Nippon Metal Industry notified scrap suppliers
of Yen10,000/ton cut for August = SUS mills' purchasing price for nickel-alloyed
stainless steel scraps (new clippings) for August deliveries will be Yen125,000
- 130,000/ton. -
more
Steelmakers' profits
plummet - The profits of China's large and medium-sized steel companies plunged
95.8 percent year-on-year in the first half of the year, as a slowing economy
curbed demand and prices were slashed, a senior industry official said on
Tuesday. -
more
Steel mills start to cut output - China's major steel mills have started
to reduce their output in the first half of this year, the China Iron &
Steel Association (CISA) announced Tuesday, in an effort to cut losses incurred
by the sector's overcapacity. -
more
Zimbabwe:
Cash-Strapped BNC Scraps Pay for Idle Staff - Bindura Nickel Corporation
yesterday suspended salaries to staff not involved in the care and maintenance
programme after a US$10 million loan from its parent company, Mwana Africa
Plc, last September ran out. -
more
Courtesy AISI - In
the week ending July 28, 2012, domestic raw steel production was 1,846,000
net tons while the capability utilization rate was 74.7 percent. Production
was 1,834,000 tons in the week ending July 28, 2011, while the capability
utilization then was 75.0 percent. The current week production represents
a 0.7 percent increase from the same period in the previous year. Production
for the week ending July 28, 2012 is up 0.5 percent from the previous week
ending July 21, 2012 when production was 1,837,000 tons and the rate of
capability utilization was 74.3 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading quietly and slightly higher as well. Overall,
base metals appear to be fading from earlier session highs. Stockpiles of
nickel stored in LME approved warehouses rose on Thursday and now total over
118,900 tonnes. Equity markets are mostly higher on hopes Bernanke may announce
QE3 later today in a speech to be given at Jackson Hole, Wyoming. Most analysts
appear to be skeptical the Federal Chairman will take such an action. We
find it very concerning that the Chinese stainless steel price index continues
to fall.
Reports
Commodity/Economic Comments
Western World
Molybdenum Production Q2-2012 = Down from Q1 reflecting softened market =
Production of molybdenum in concentrates during the Q2 (April - June) of
2012 was down from the Q1. The aggregate of production figures released by
the major western world producers, including some estimates, was 35.58 million
pounds in North America and 39.97 million pounds in Central/South America,
totaling 75.55 million pounds, down 3.6% from 78.38 million pounds produced
during the preceding quarter. -
Belevedere cuts
costs and boosts output to offset tough nickel market - Lower costs and better
than expected production from its Hitura mine in Finland helped Belvedere
Resources offset the impact of weak nickel prices in its latest quarter.
-
China extends
anti-dumping probe to steel tubes from EU, Japan - The Chinese Ministry of
Commerce said Friday it will extend anti-dumping investigations to
high-performance stainless steel seamless tubes from the European Union (EU)
and Japan for another six months -
Germany. ThyssenKrupp
Nirosta to introduce short-time working in Bochum from September - Due to
continuing weak orders at ThyssenKrupp Nirosta GmbH short-time working is
being introduced from September 2012. -
Morning Nickel
Inventory and Price Statistics & Figures
NAS - Effective with
shipments September 1, 2012; North American Stainless is increasing prices
for all 201, 301 and 430 grade cold rolled products. This increase will be
achieved by reducing the functional discount by (2) discount points.
Nickel
Stockpiles Reach 16-Month High on Increase in Rotterdam - Nickel stockpiles
monitored by the London Metal Exchange reached a 16-month high on deliveries
into Rotterdam warehouses.-
European nickel
market weak but demand improvement anticipated - The European physical nickel
market remains quiet as the traditionally slow month of August continues
to see very little activity. -
Japan nickel imports
from Indonesia rise as delayed cargoes arrive - Japan's nickel imports from
Indonesia surged in July from the year before due to the arrival of cargoes
delayed after Jakarta imposed new mining regulations and because figures
for 2011 were decimated by the deadly earthquake and tsunami that hit in
March that year. -
Macquarie sees destocking
and weaker buying pressuring iron ore - Destocking and reduced purchasing
activity by larger and mid-sized mills could continue to pressure iron ore
prices in the near-term, according to a report issued Wednesday by Macquarie
Commodities Research. -
Lowering
duties but imposing quotas for stainless steel imports to Russia - According
to SpetsStal's appraisal, stainless steel imports to Russia in July 2012,
compared with the previous month's result, rose 10.0% to 21,160 tons. -
Lundin restarts
production from Aguablanca mine - Canadian base metal miner Lundin Mining
Corp said on Monday it has restarted production from Aguablanca, nearly two
years after heavy rains caused a landslide at the nickel-copper mine in Spain.
-
BHP takes razor
to WA nickel - BHP Billiton will scour its WA nickel operations for more
savings in an attempt to wait out sharp falls in commodity prices, after
the sale of its Yeelirrie uranium deposit raised fresh questions about its
commitment to its marginal WA operations. -
, down $5/tonne
for the day, $.38/lb higher for the week, and $.33/lb higher from a month
earlier. The London Metal Exchange is closed today for Summer Bank Holiday.
Low nickel
price not sparking fears of production shutdown - Many Sudbury Star readers
aren't worried about a shutdown at Vale or Xstrata, even after a mining analyst
speculated that low nickel prices could lead to just that. -
Cuban Forests Recover
over 1000 Hectare of Mining Land - Cuban nickel mining enterprises
returned some 1 062 hectare of used land in 2011 to be planted with trees,
said Ernesto Mastrapa, specialist of the delegation of the Ministry of Science,
Technology and Environment (CITMA) in the eastern province of Holguin. -
DMCI eyes
more acquisitions - Consunji-led DMCI Holdings Inc. is eyeing more acquisitions,
particularly nickel mines in Palawan, Davao and Zamboanga, according to a
top company official. -
Nickel is found
to make all the difference to cows - Research into the addition of nickel
to pasture and to feed for dairy cows is being carried out on a small Taranaki
farm. -
Recognition Of
'Bottom In Aug.' On Prices Of Austenitic Stainless CR Sheets Is Increasing
- Prices of austenitic cold-rolled (CR) stainless steel sheets in the Asian
area are hovering mostly at $2,550 to 2,600 CFR. Korea's POSCO, Taiwan's
YUSCO and so on are proceeding with negotiations at this level for September
shipment. -
BNC faces liquidation
- Bindura Nickel Corporation (BNC) faces possible liquidation if its employees
do not accept a settlement plan involving cash and shares to settle back-pay
liabilities and retrenchment packages, COO Batirai Manhando said. -
Catholics take stand
against seabed mining - The Catholic Bishops’ Conference has joined
several non-governmental organisations in making a stand against deep-sea
mining and called on the government to stop the project. -
New Caledonia
facilities go live with Tideworks TOS - Tideworks Technology has announced
that both Vale New Caledonia, at Prony Port in New Caledonia, and GIVE
Nouméa Port, also in New Caledonia, have gone live with Tideworks’
terminal operating system (TOS) solutions. -
Indonesia Reviews
Plans for $550b in Smelter Investments - A ban on the export of raw mineral
ores from Indonesia due to take effect in 2014 has accelerated plans for
investment in smelters in the resource-rich country. -
Vale Weighing Nickel
Means Iron Focus: Corporate Brazil - Vale SA forecasts it will miss base-
metals output targets for a second year, fueling calls from analysts for
the company to sell at least part of the business plagued by strikes and
sinking prices.-
Greece sacks state
company head for not cutting salaries - Greece sacked the head of its state
nickel producer LARCO on Thursday for refusing to reduce workers' pay, the
first state company chief to lose his job in the fight to cut costs and stay
hooked up to an international bailout. -
ASIA MOLY OXIDE:
Market quiet ahead of Posco tender - No deal, firm bid or offer for molybdenum
oxide powder was reported in Asia Thursday, with South Korean sources planning
to participate in the Posco Specialty Steel tender intending to seek offers
Friday after it closes. -
Global stainless
steel output to rise driven by the growth in China and India - Albanian Minerals
forecasts stainless steel output will rise to 35 million tons in 2012 from
32.1 million tons in 2011. -
China Overtakes
South Africa on Ferrochrome Output, Merafe Says - China overtook South
Africa as the largest ferrochrome producer this year, according to Merafe
Resources Ltd., which has a joint venture with Xstrata Plc.-
As nickel
quarry opponents grow, Canadian miner eyes the press - The head of the Agrarian
Reform farmers grouped in CNPRA yesterday joined the voices opposed to mining
for nickel at Loma Miranda, and warning that if it occurs, many of the farms
in the Cibao valley are doomed to disappear, mostly those which require
irrigation. -
