This page is archived news covering the period of August 2013
If you are looking for current daily market news, please visit here.

LME nickel prices and news

Stainless Steel News and Nickel Prices

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


Daily Nickel Market News & Stainless Steel Prices

Kiva - loans that change lives

Nickel Prices and Stainless Steel Bolts

Stainless Steel News and Prices

Friday, August 30

  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 $6.38/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.11/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses slipped for a second day on Thursday and now total just over the 212,050 tonne level. Equity markets ended mostly higher in Asia after the British parliament rejected a use of force option in Syria. Euro markets are trading lower as traders there await a European employment and consumer confidence report. And US futures are higher. Commodities are lower as external involvement into Syria looks less likely, with gold and oil both lower this morning. US markets begin a 3 day weekend in celebration of Labor Day, so our next update will be Tuesday, September 3rd. Have a safe and enjoyable weekend! 
  • Average price of cash nickel so far this month - $6.49/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Aluminum Reaches Three-Week Low on Prospects for Larger Surplus - more
  • LME Morning - Base metals drop ahead of Labor Day weekend - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.77
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Russia’s Norilsk Nickel Half-Year Profits Down by 63.2% - more
  • Chinese tourists refuse to give back stainless steel cutlery on Singapore Airlines flight - more

    LME Asia chief Liz Milan steps down in latest HKEx reshuffle - Liz Milan, head of the London Metal Exchange's Asia business stepped down this week, Hong Kong Exchanges and Clearing (HKEx) confirmed on Friday, the latest casualty of a clean out by the exchange of former LME management. - more

    In China, FeNi Price Recovers, but NPI Price Remains Unchanged =Price hike enables producers to resume production= In the Chinese market, ferro-nickel products with high nickel content has recovered its price and shown an upward trend. - more

    Xstrata-Merafe to sell Horizon mine - The Xstrata-Merafe chrome venture, the biggest producer of ferrochrome globally, is talking to parties interested in buying its high-cost Horizon mine in Limpopo. - more

    Government to Relax Divestment Obligation for Eramet’s Weda Bay Nickel - The Energy and Mineral Resources Ministry may relax divestment obligations for Weda Bay Nickel, a local unit of Paris-based Eramet, due to its capital-intensive investment plan for nickel processing facilities in North Maluku, a senior government official said on Thursday. - more

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, August 29

  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 $6.43/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses took a break from its record breaking streak and fell slightly on Wednesday, ending the day just over the 212,200 tonne level. Considering the Euro is down 6/10 of 1% against the US Dollar at the moment, nickel's slight decline in traded price is showing some resilience. A spokesman from the UN has advised the media their inspectors in Syria will leave that country on Saturday. That has sent a signal to the market that it is doubtful any military action will be taken against Syrian military forces for their alleged usage of chemical weapons last week - at least until the weekend. Asian markets ended higher overnight, European markets are trading higher this morning, and US futures are higher. US markets will get revised second quarter GDP numbers and a weekly employment report to give it momentum. Watch oil prices. They are climbing as the Libya crisis causes potential supply concerns if the war spreads beyond Libyan borders. The US economy is still not strong enough to handle a strong increase in fuel prices and if the jump in fuel prices stick around for awhile, we could see a negative effect on the greater economy. The US Fed tapering talk is really hurting emerging markets and countries like India, Indonesia, the Philippines, Brazil and others are seeing their currencies take a beating against the US Dollar, and putting some of the countries in serious financial trouble. Europe continues to show evidence its recession has bottomed out and a recovery has begun - at least in many parts.   
  • Average price of cash nickel so far this month - $6.50/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits 2-week low on strong dollar as inventories rise - more
  • LME Morning - Base metals steady, look to wider markets for direction - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.79
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (WSJ) OAO Norilsk Nickel, the world's largest nickel and palladium producer, said Thursday it expects global macroeconomic uncertainty to continue in the second half, as it posted a 63% drop in first-half net profit to $545 million, from $1.48 billion a year earlier, due to non-cash writeoffs.
  • (SSY) The world export price of hot rolled band has increased by $4/t over the last two weeks to $570/t, according to the latest SteelBenchmarker published by World Steel Dynamics. Prices in China rose to $503/t to mark their highest levels since April. Meanwhile prices in the US remained unchanged at $720/t, but in the EU prices fell by $6/t to $594/t.
  • Barclays hires investment bankers to lead metals and mining team - more
  • Are we all Martians? Researcher Says that Life on Earth Came from Mars - more
  • Whoa, Graphene Can Make Other Metals 500 Times Stronger - more

    Taiwan Launches Provisional Antidumping Duties Against Stainless Steel from China and South Korea - According to the dumping investigation on stainless steel products from China and South Korea, the related industries of Taiwan have been proved to suffer material injury caused by these products. - more

    Subsidies boost steel profits - Many Chinese steel enterprises reported profits in their semi-year reports despite the slump in the industry, due to the large government subsidies, the Xinhua News Agency reported Wednesday. - more

    Public forum to air views on PNG Ramu mine marine tailings system - A public forum is being held in Papua New Guinea’s Madang province today to discuss concerns over the deep sea tailings placement system of the Ramu nickel mine. - more

    Vale fire damage pegged at $2M: fire services - Greater Sudbury Fire Services were called to a fire at 9:15 today at Vale’s Clarabelle Mill in Copper Cliff. - more

    Cripps asked to apologise over Palmer nickel refinery claims - MP Alex Douglas has accused Natural Resources and Mines Minister Andrew Cripps of spreading lies about the future of the Queensland Nickel refinery in Townsville in the state's north. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, August 28

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.54/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading lower as well. Stockpiles rose to a new record high for the sixth straight session and eleventh time this month and now total 212,328 tonnes. Nickel and other base metals are suffering for a second day on fears of military intervention in Syria, in response to last weeks alleged use of chemical weapons against civilians. The Euro is also lower with the Syria situation exacerbating US Fed stimulus tapering concerns. The damage is being felt especially hard in emerging markets as  foreign investors pull out. India is having its own financial crisis as their central bank is being forced to intervene as the rupee continues to be hammered. The gains we are seeing in stockpiles is staggering and to get an idea of what a typical August might see, we compare what has happened so far this month, to what has happened over the last few years. In 2012, August started at 115,884 tonnes and finished at 118,908 tonnes. In 2011, 103098 to 103,800 tonnes. In 2010, 118380 to 118,662 tonnes. In 2009, during the worldwide financial crisis, 105,864 to 113,442 tonnes. And so far this month - 204,300 tonnes was where we started and today we hit 212,328 tonnes. These bulging stockpiles are, and will continue to, add negative pressure on the traded price of nickel.
  • Average price of cash nickel so far this month - $6.50/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper falls as potential Syria strike spurs caution - more
  • LME Morning - Base metals softer in risk-off trading sessions - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • (Dow Jones) The nickel market could head into a large surplus in 2014 and, absent a complete ban of Indonesian exports, the market outlook remains depressed, Macquarie says, describing the recent rally in prices as a selling opportunity. "What the market needs is a substantial supply shock, either from announced production cuts or else from significant developments in Indonesia," the bank says in a report. It expects the global nickel market to be in surplus to the tune of 78,000 tons in 2013 and 84,000 tons in 2014.
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.81
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (Reuters) Joy Global Inc, a maker of mining equipment, reported a lower profit for the third quarter and said orders fell 36 percent due to global oversupply.

    Appearing dawn in the stainless steel market - Helped by improving macroeconomic indicators in EU the stainless steel market may strengthen during 2nd half of 2013, following a 1st half where demand proved to be much weaker than most had anticipated. - more

    Jonathan Barratt, the chief executive officer of Barratt’s Bulletin in Sydney, talks about copper, nickel, gold and oil. He speaks with Rishaad Salamat on Bloomberg Television's "On the Move." (Source: Bloomberg) - more

    Chaoyue Acquiring Scrap Yards in China - According to multiple news reports, Chaoyue Group Ltd, based in Hong Kong, has agreed to purchase two Chinese makers of stainless steel and copper products for around $1.3 billion.- more

    Chinese mining companies have huge receivables - Accounts receivables for China's major coal companies reached 330.8 billion yuan ($54.03 billion) at the end of June, the highest level over the past decade, official industry figures showed. - more

    Madang People Starting To Speak Out Against ‘WORLD CLASS MCC’ - On the heels of Governor Jim Kas’s statement last week that the dumping of MCC’s waste in the Basamuk Sea must stop, people throughout Madang are coming together to not only support the Governor, but demand the Chinese start respecting them and their environment. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, 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 $6.59/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.06/lb lower, with most London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to yet another record high over the weekend, and now totals 211,902 tonnes. This is the tenth record high set this month. Except for mainland China, Asian markets closed lower overnight, European markets are trading lower today, and US futures are lower this morning. Fears of military action taken against Libya, news that the US will hit its debt limit in mid-October, and continued concern about US Fed tapering has created a cocktail of negativity this morning for traders around the world. US consumer confidence numbers are due this morning with economists expecting a small drop to 78.0. Primary focus seems to be on Syria and the increasing possibility of military action taken in response to the alleged use of chemical weapons against civilians last week. Nickel's short term trend has returned to negative and we put minor support at $6.41/lb.  
  • Average price of cash nickel so far this month - $6.50/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper down on U.S. tapering fears; China limits losses - more
  • LME Morning - Base metals soft, copper slides after big inventory increase - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.90
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Team Stainless Review the Harry Brearley Conference and Exhibition - more
  • Rebar Falls Most in a Month as China Construction Activity Slows - more
  • Investment banks lift China's economic outlook - more
  • (China) Half-year reports reveal risks for steel companies - more
  • ENSO remains neutral as negative IOD weakens - more

    Australia's mining boom rolls on for Chinese entrepreneur in the outback - Former Chinese commodities trader Jerry Ren, who is quietly building a mining empire in the Australian outback, scoffs at talk the resources boom is over. For him its just moved north. - more

    DJ Western Areas Swings to Loss on Nickel Price Slump - Australian nickel miner Western Areas Ltd. said Tuesday it swung to an annual loss and scrapped its dividend after a sharp fall in nickel prices. - more

    Call to review policies on mining industry - It is timely for fiscal regimes governing the mining industry to be reviewed to meet today’s demands and challenges, Vice-Minister for Mining Wera Mori said. - more

    Mr Clive Palmer coy on nickel refinery future - The Australian reported that prime ministerial aspirant Mr Clive Palmer refused to guarantee that his Yabulu nickel refinery in Townsville would remain open after the federal election. - more

    Baosteel sees China steel prices weakening in H2 on supply glut - Chinese steel prices are likely to weaken in the second half as supply continues to outstrip demand, a senior executive with Baoshan Iron & Steel , the country's biggest listed steelmaker by market value, said on Monday. - more

    Courtesy AISI - In the week ending August 24, 2013, domestic raw steel production was 1,861,000 net tons while the capability utilization rate was 77.7 percent. Production was 1,897,000 net tons in the week ending August 24, 2012, while the capability utilization then was 76.3 percent. The current week production represents a 1.9 percent decrease from the same period in the previous year. Production for the week ending August 24, 2013 is down 0.9 percent from the previous week ending August 17, 2013 when production was 1,878,000 net tons and the rate of capability utilization was 78.4 percent.

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, August 26

  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 $6.59/lb . Indicators at 7:00 am CST today show 3 month nickel untraded as the London Metal Exchange is closed for Summer Bank Holiday. The LME will re-open tomorrow. Shanghai and India nickel rose overnight. Stockpiles will be reported tomorrow when the LME re-opens after having set a new all time record high nine times this month. That matches last month, with a week of reporting days still left. Asian equity markets closed mixed overnight, and European markets, as well as US futures, are lower this morning. US will report durable goods for July today, which may or may not give US equity markets a direction. Keep an eye on the US Treasury 10 year bond quote. As it has risen over the past few weeks, the Dow heads south (here). Now that we know tapering by the Fed will begin soon, and the market will have to detox from the free money, traders are looking around for direction and asking 'what's next?'. Do they bet the economy, which is getting better and thus the Fed pull back, or do they trade in anticipation of a pullback as the market is forced to break its addiction to the free money. Interesting days ahead.  
  • Average price of cash nickel so far this month - $6.50/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning -

  Reports

  • Where have all the millions gone, long time passing? - pdf here
  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here
  • Video: Forced evictions by Nautilus - more

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • China economy stabilizing: NBS - more

    Prices of CR Austenitic Stainless Sheets Might Recover in Full Swing - Prices of cold-rolled (CR) austenitic stainless steel sheets (to SUS304) in the Wuxi market of China rose by 1,000 CNY ($161) in the past week to 16,700 CNY ($2,693 including tax). - more

    Chin Parties to Consult Communities Over Nickel Mine - Members of four Chin parties will visit Tedim Township, northern Chin State, next month to speak with local villagers who could be affected by the planned Gullu nickel mining project, the Chinland Guardian reports. - more

    Minnesota copper mine review to be made public in November - A long-awaited revised environmental review of a proposed copper-nickel mine in northeastern Minnesota will be released Nov. 24, the state Department of Natural Resources said Friday. - more

    Bataraza generated P64M tax from mining firm - The municipality of Bataraza, here, recently received P64.62 million as first quarter payment for the real property tax (RPT) of the Coral Bay Nickel Corporation (CBNC). - more

     Baosteel reports huge drop in profit - Baoshan Iron & Steel Co (Baosteel), a major steel maker in China, reported 61.47 percent year-on-year slump in its first-half net profit over the weekend, mainly due to sluggish market conditions. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, August 23

  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 $6.55/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.05/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses set another all time record high at 210,060 tonnes. This is the fourth consecutive record set, and ninth this month alone. Nickel trading looks better today than it did yesterday, and without the support it has yesterday. The Euro is only slightly higher and offering minimal support. European equity stocks are lower, except for England, at the moment, hinting that investor sentiment is leaning negative. Two things, mostly long term, seem to be favoring commodity trading at the moment. We advised earlier in the week the market needed some positive news, preferably from China - and that came on Wednesday with some strong flash PMI numbers from HSBC. Secondly, with money flowing out of the equity markets on fears of what might happen as the US Fed starts to taper its stimulus, traders may look to commodities for a quick return on investment. Don't hold your breath for number two to pan out. First, we are skeptical that the markets will do much more than suffer an overdue correction as the free money drug is pulled out of the market. And secondly, if the tapering has a more adverse effect on the market than we expect, we may have far greater economic concerns than where day traders stick their money. Watch where the funds stick their money. Their choices can have a huge impact. So far today, nickel is trading about a dime cheaper than it was this time last Friday. Have a safe and relaxing weekend.  
  • Average price of cash nickel so far this month - $6.50/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs on Rebound Indications and Shrinking Inventories - more
  • LME Morning - Base metals move off overnight closes in light end-week trading - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.97
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Watch a Hot Ball of Nickel Scorch Little Gummy Bears to Goop - more

    China's Crude Stainless Steel Production in First Half Is 8.8182 Mil. Tons - According to the Stainless Steel Council of China Special Steel Enterprises Association, China's production of crude stainless steel in the first half (January - June) of 2013 was 8.8182 million tons, up by 9.63% from the year-earlier period. - more

    China Ferrochrome: Import spot price inch lower on weaker rupee - The Chinese import spot price for Indian-origin high carbon ferrochrome (58-60% Cr, 6-8% C) inched lower to 83.5-85 cents/lb CFR China Friday, down from 84-85 cents/lb CFR a week ago as some Indian suppliers accepted lower bids from buyers due to the weaker rupee. - more

    Sweden gives thumbs-up to disputed nickel mine - The Swedish government has given the go-ahead to a controversial nickel mine on the Umeå river in northern Sweden, despite resistance from local Sami and concern from environmentalists. - more

   Mackenzie gives up sign-on bonus, BHP trims vesting LTIP by 35pc - BHP Billiton's management elite are to miss out on more than $26 million in long-term share grants in the latest attack on executive remuneration levels under new chief executive Andrew Mackenzie. - more

    Russian group’s African operations show divergent production trends - Russian mining group MMC Norilsk Nickel has reported that second quarter 2013 production of nickel in concentrate by South African operation Nkomati Nickel was 26% higher than its output during the first quarter.- more

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, August 22

  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 $6.53/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses set yet another all time record high for a third consecutive session and eighth time this month, and now total 209,868 tonnes. We said a few days ago that we felt it would take some good economic news from preferably China to stop nickel from falling, and we got it overnight. HSBC, which does not have a stellar record of forecasting properly, says China PMI manufacturing moved above 50 for the first time in four months. A market, suffering from US Fed stimulus withdrawal pains, is taking this news, as well as higher European manufacturing PMI numbers, and using it to take metals higher, even as the Dollar strengthens. Nickel is not getting quite the impressive bounce as  copper, probably being weighed down by the ever growing stockpile totals. So far, nickel's jump in price today is not giving much evidence that it is a rebound with some staying power. Of course, we will have to wait and see what the markets do. US stainless steel surcharges for September are out - and linked to below. They are higher than August numbers and for a quick glimpse, we post a few of them monthly for comparison (here).
  • Average price of cash nickel so far this month - $6.49/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper climbs 2 pct on upbeat China manufacturing data - more
  • Bloomberg metals morning - Copper Advances as Manufacturing Unexpectedly Expands in China - more
  • LME Morning - Base metals rally picks up pace, copper price rises 1.8 pct - more

  Reports

  • September Stainless Steel Surcharge for Outokumpu Nirosta - pdf here
  • September Stainless Steel Surcharge for AK Steel - pdf here
  • September Stainless Steel Surcharge for Allegheny Ludlum - more
  • September Stainless Steel Surcharge for North American Stainless - more
  • CHRG Metals CHRG report - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 85.01
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (Reuters) The London Metal Exchange has offered the job of chief executive to Martin Pratt, two sources familiar with the matter said on Tuesday, picking a veteran broker to lead the bourse through the most tumultuous period in its 136-year history.
  • LME Warehousing and Aluminum - statement from Goldman Sachs - more
  • Jiaxing Fastener Exports Slump in First Half - more

    US stainless steelmakers raise Sept. surcharges for 300-series products - US stainless steel surcharges ended a five-month skid Wednesday when major mills announced September increases for 300-series products. - more

    Service Center Shipments Enjoy Bump in July - Service center activity finally began to see some uptick in July, with shipments making significant strides against 2012 numbers, reports the Metals Service Center Institute, Rolling Meadows, Ill. - more

    EU Ends Probe Over China, Taiwan Steel Tube Dumping - The European Union has dropped an investigation into the alleged dumping of stainless steel tube and pipe fittings from China and Taiwan, according to a notice published Wednesday. - more

    molybdenum stats - Global use of molybdenum in the first quarter of 2013 was 122.6 million pounds, down 2% from 125.5 million pounds in the previous quarter, but fractionally up from the same quarter in 2012, figures released by the International Molybdenum Association (IMOA) show. - more

    Imfa to expand capacity by 20% in two years - Ferro alloy producer Imfa, a major supplier to stainless steel companies in India and overseas, plans to add 60,000 tonne per annum of ferro chrome capacity over the next two years. - more

    After cost cuts, miners need to do more with less, BHP says - Mining firms are wooing investors with aggressive cuts after years of profligate spending, but BHP Billiton says the greater challenge will be improving productivity, if major producers are to ride an eventual recovery. - more

    Time we left behind 'nickel belt' designation - For many years, the City of Greater Sudbury and other neighbouring districts have been credited for their rich mining heritage. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, August 21

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.70/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose and set another another all time record high at 209,346 tonnes. This will be the seventh new record high set this month alone. World markets are lower this morning as traders look to the US Federal Reserve minutes to be released at 2 pm Eastern time. This will be too late to affect base metals trading today, but could have an impact tomorrow. We keep harping on it, but it really is what is having the largest impact on the markets these days - the future stimulus cut off. Up until now when the market started turning south on bets that the Fed would start cutting of the flow of free money sooner than later, the Fed would send out its little pack of market calmer's to re-assure the addicted that their drug would still flow. And the markets would rebound. This time, we have seen five straight days with the Dow falling, a first for 2013, and no one from the Fed has rushed to a microphone to make the market feel all better. So the market is very nervous about what might happen in September and will be looking over the released Fed minutes like a starving pack animal. It would all be rather humorous except the choices Wall Street makes on a daily basis can have a huge impact on the people in Main Street who are just trying to make it another day. All of the uncertainty is putting a drag on an economy already crawling at a snail's pace.
  • Average price of cash nickel so far this month - $6.49/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls as Chinese Manufacturing Seen Continuing to Shrink - more
  • LME Morning - Base metals under pressure ahead of FOMC minutes - more

  Reports

  • WSA Monthly Crude Steel production - pdf here
  • China Nickel Imports and Exports Data July 2013 - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.99
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SMM) The global nickel market was in surplus by 74,200 tonnes in the first six months of the year, a monthly bulletin from the Lisbon-based International Nickel Study Group (INSG) showed on Tuesday.
  • (LGMI) China Iron & Steel Association data showed that China's average daily crude steel output bounced up 2.7% to 2.140 million tonnes between August 1 to 10 from July 21 to 31.
  • (FAN) Stainless scrap demand has improved, reportedly spurred by an increase in nickel prices, although some processors question whether the price rise will continue.

    PT Antam clears path to develop nickel pig iron project in Indonesia - PT Antam has reached an agreement with the North Konawe Regency Government in southeast Sulawesi that allow development of its Nickel Pig Iron Project to progress. - more

    Diversified miners' short-term challenges at odds with long-term views: Clyde Russell - The world's top diversified mining companies are starting to resemble choir boys singing the same hymn about cutting projects and costs. - more

    Xstrata miners denied bonus - Members of Mine Mill Local 598/Canadian Auto Workers in Sudbury won't be getting a nickel bonus for the third and fourth quarters of 2009, an arbitrator has ruled. - more

    BHP slashes value of Nickel West again - BHP Billiton has again slashed the value of its Nickel West operation, revealing the mining, processing and smelting business has net operating assets worth only $US127 million ($140 million). - more

    Nickel Institute : David Butler joins Nickel Institute as Executive Director & General Counsel - The Nickel Institute today announces the appointment of David Butler as Executive Director & General Counsel. David will be based in the Nickel Institute's Toronto office. - more

    Global steel output up in July helped by US, China rise - Global crude steel production rose in July helped by solid output increases in top producer China and in the US, while suffering steelmakers in the EU continued to curb volumes. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, August 20

  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 $6.72/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.05/lb lower, with most other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses rose to a new all time record high on Monday and now total 208,575 tonnes. Deutsche Bank is reporting that they fell 35% of nickel producing operations are operating at a loss at current traded prices and have raised their average cost for 2013 to $7.20/lb, with an aggressive 10% increase forecast in the average annual price for 2014. Asian markets ended lower overnight, while European equity markets opened lower and are slowly trying to crawl back currently. US futures are slightly higher at the moment. US markets have been trading in reaction to the 10 year bond quote (here) and today is starting no different. Base metal traders appear to be running out of steam on their bullish rebound, and even with a stronger Euro this morning, nickel is trading lower. Nickel needs some strong economic news, preferably from China, to give it another jump start to offset the negative weight of historically high stockpiles. We still have strong resistance at $6.90/lb but it appears nickel may  have run out of steam short of that mark.
  • Average price of cash nickel so far this month - $6.48/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Drops for Second Day on Prospects Fed May Taper Stimulus - more
  • LME Morning - Base metals drift lower, copper price corrects after Friday spike - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.77
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (Dow Jones) Deutsche Bank raises nickel price forecasts for this year and next to reflect the metal's improving near-term outlook. The bank ups 2013 average price forecast 2% to $15,881/ton and raises 2014 outlook 10% to $16,875/ton. Deutsche Bank estimates that around 35% of nickel production is currently loss making; a situation it calls "unsustainable."
  • China's avg daily steel output rebounds 2.7 pct in early Aug-industry data - more
  • Nansen memorial disembarks on Taimyr - more

    Temporary respite for oversupplied nickel market: Deutsche Bank - There may be temporary respite for the global nickel market, Deutsche Bank said in a research note Tuesday. - more

    Glencore Posts $7.7 Billion Writedown as Profit Declines - Glencore Xstrata Plc’s first-half profit slid 39 percent and the world’s biggest exporter of power station coal wrote down the value of assets acquired in the Xstrata Plc takeover three months ago by $7.7 billion. - more

    Courtesy AISI - In the week ending August 17, 2013, domestic raw steel production was 1,878,000 net tons while the capability utilization rate was 78.4 percent. Production was 1,897,000 net tons in the week ending August 17, 2012, while the capability utilization then was 76.3 percent. The current week production represents a 1 percent decrease from the same period in the previous year. Production for the week ending August 17, 2013 is up 0.9 percent from the previous week ending August 10, 2013 when production was 1,862,000 net tons and the rate of capability utilization was 77.7 percent.

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, August 19

  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 $6.80/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.12/lb lower, with all London traded base metals trading lower as well. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and now total just over the 205,750 tonne level. World markets have started the week mostly in a sour mood with Asian markets ended lower overnight, and European markets lower today. US futures are quiet after experiencing a brutal past week. Metals news is mostly quiet today with analysts speculating on what Glencore/Xstrata will announce tomorrow in earnings. Nickel is overbought, having risen about its 100 day moving average on Friday, and due for a pause in its bullish run on some profit taking.
  • Average price of cash nickel so far this month - $6.47/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips as Federal Reserve minutes awaited - more
  • Bloomberg metals morning - Copper Falls as Investors Await Cues on Fed’s Stimulus Stance - more
  • LME Morning - Base metals mostly softer, data calendar light - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.56
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Nearly half of imported iron ore at Hebei port of low quality: report - more
  • (BNA) Brazil's nickel output in July totaled 5,775t, up 4.96% from 5,502t year-on-year, according to data released by the institute of non-ferrous metals, ICZ.
  • (LGMI) China National Bureau of Statistics said that China's industrial output rose 9.7% in July from a year earlier and retail sales gained 13.2%.

    Glencore expected to take up to $7-billion hit on Xstrata assets - Glencore Xstrata is expected to write down the value of assets inherited from Xstrata by as much as $7-billion when it reports first-half earnings on Tuesday – the first full set of results since the takeover that created the mining giant in May. - more

    Stainless steel imports are high while exports are even higher - According to SpetsStal, stainless steel imports to Russia in June 2013, compared with the previous month's figures, rose 4.5% to 18,727 tons. Imports of flats increased 8.1%, longs – 3.8%, welded tubes – 20.5%. Imports of wire decreased 32.3%, seamless tubes – 16.1% and slabs/ingots – 78.5 - more

    Queries on Ramu nickel project - Questions were raised at a recent mining conference why the government did not have equity in the Ramu nickel project in Madang. - more

    Man suspected of stealing nickel from Canadian mines arrested at Bismarck homeless shelter - Authorities say a man accused a stealing about $110,000 worth of nickel from mines in northern Manitoba was arrested at a Bismarck homeless shelter. - more

    What Happens When You Drop A Red Hot Ball Of Nickel Into Peanut Butter - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, August 16

  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 $6.68/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.07/lb higher, with other London traded base meals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose to another all time record high on Thursday, and now total 206,118 tonnes. This is the 5th time a new all time record has been attained this month. Cancelled warrants are rising and for the first time since March, they topped 17% yesterday. There is a metals story floating around the web today reporting that China overtook South Africa to become the worlds largest producer of ferrochrome in 2013. Based on information we have posted on this site in years past, this is incorrect information, and China became the world's top producer of ferrochrome in 2011. Metals got hit in a world wide sell off yesterday, and was unable to benefit from a stronger Euro. Today the market is playing catch up, and while European equity markets are quiet, commodities are trading higher. We still have resistance for nickel around $6.95/lb. Have a relaxing and safe weekend.
  • Average price of cash nickel so far this month - $6.45/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper hits 10-week high on improving economic prospects - more
  • LME Morning - Base metals break resistance, await US data for clearer direction - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.23
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (MF) Baosteel Stainless hikes austenitic stainless export prices
  • Commander Attains 100% Ownership of South Voisey's Bay Nickel Project - more

    China's Prices of CR Austenitic Stainless Sheets Might Bottom Out at Last - As Taiyuan Iron & Steel and Baoshan Iron & Steel of China left their domestic prices of cold-rolled (CR) austenitic stainless steel sheets unchanged for August shipment, those prices are thought to have bottomed out at long last. - more

    EU requests WTO panel on Chinese duties on steel tubes - The European Union has asked the World Trade Organisation to rule in a dispute over Chinese anti-dumping duties on imports of high-performance stainless steel seamless tubes from the EU. - more

    Steeled for change: China's bloated industry to face market forces - Momentum is growing in China to allow market forces to end a titanic capacity glut in heavy industry that a decade of state interventions has failed to resolve, according to speeches made by high-ranking officials this month at a closed-door event. - more

    U.S. Shipments Reverse Declines in July - In July, the pattern of consistent monthly decline of U.S. steel and aluminum shipments reversed, with shipments increasing approximately 5% over last year. - more

    POSCO Completes Construction of Izmit (Turkey) Stainless Steel Mill - POSCO said on August 15 that it held a completion ceremony on the same day for a US$350 million cold-rolled stainless steel plant called "POSCO Assan TST" in Izmit, Turkey, about 100 kilometers east of Istanbul. - more

    BNC finishes fresh mine plan at Trojan - Bindura Nickel Corporation has completed a review of the revised mine plan at its Trojan Mine to target the higher grade zones of the ore body following the recent fall in the international nickel price, the company said this week. - more

    Lawyer accuses EPA of softening Minnesota copper-nickel mine letter - An environmental lawyer accused the Environmental Protection Agency on Thursday of watering down a letter that praised progress toward completing a long-awaited review of plans for building the first copper-nickel mine in northeastern 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 reports and information free of charge. Contact us

Thursday, August 15

  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 $6.76/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.06/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose slightly, and total just 15 tonne shy of the all time record high of 205,890 tonnes. Commodity stocks are trading lower, apparently part of an overall negative turn today. US stocks ended lower yesterday, which has started a wave of negativity that has slowly encircled the globe. The events in Egypt is unsettling markets as well with over 500 killed being reported this morning. This has caused oil to trade higher, and higher fuel costs could be a drag on an already sputtering economic recovery. US markets may have moved into an overdue correction phase, with lower than expected Wal-Mart earnings, coming on the heels of analysts announcing US consumers were spending again, raising eyebrows and dropping a few jaws this morning.
  • Average price of cash nickel so far this month - $6.43/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips from near 9-week high; economy hopes lend support - more
  • LME Morning - Copper prices bob around $7,300 again, metals rangebound - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.89
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (L360) Taiwan said Tuesday that it will impose provisional anti-dumping duties on certain stainless steel and cold-rolled steel products manufactured in China and South Korea after initially determining the subject imports are being sold in the country at below market value.
  • (SSY) World export prices for hot rolled band rose by $20/t from two weeks ago to $566/t, the highest level since April, according to the latest SteelBenchmarker published by World Steel Dynamics. However, the world HRB price was still $17/t lower than a year ago. HRB steel prices in all regions have shown upward momentum.
  • (AM) Indonesia government reaffirms to implement the raw ore export prohibition policy of 2014
  • (CD) China is expected to overtake the US to become the world's largest consumer market in five years, according to a new report by Standard & Poor's.

    Talvivaara Rises as Nickel Plant Reaches Record Production Rate - Talvivaara Mining Co., the Finnish nickel miner that suffered stoppages from waste-water leaks, rose the most in two weeks in London on record production. - more

    China eats into India's share in ferro chrome market - India is fast losing the Rs 1,500-crore ferro chrome export market to China due to export duty levy, which makes the mineral uncompetitive abroad markets. - more

    Mincor posts loss on weak nickel price - Nickel miner Mincor Resources has been hit by the lowly price for the steel-making commodity, reporting a $22.45 million full-year loss. - more

    Nunavik mine owes $72 million to creditors; Chinese owners turn project over to Toronto bank - Canadian Royalties Ltd.‘s Nunavik Nickel mine, which was to be Nunavik’s second operating mine, spinning out minerals for hungry markets abroad, appears so far to have left a trail of debt throughout Nunavik. - more

    HKEx CEO says close to picking new LME chief - Hong Kong Exchanges and Clearing Ltd is close to picking a new CEO for the London Metal Exchange and will make an announcement in due course, Chief Executive Charles Li said on Thursday. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, August 14

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.69/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals flat to quietly higher. Stockpiles of nickel stored in LME approved warehouses fell slightly on Tuesday and now total just over the 205,800 tonne level. While higher this morning, nickel is off earlier highs and appears to be struggling to hold onto gains. The Dollar is stronger and that is adding negative pressure on metals trading. Thanks to Germany and France, the Eurozone moved out of recession in the second quarter, with Italy, Cyprus, Netherlands, Sweden, and Spain (Greece is not reported but would make this list) showing as experiencing negative growth. Hong Kong markets were closed due to a very dangerous Typhoon Utor. Worldwide nickel miners continue to report earnings from the second quarter, although earnings is kind of a cruel term. Many are taking a serious beating due to the low traded price of nickel, but even while losing money, most remain operational. If you missed the party, yesterday was the unofficial 100th year birthday for stainless - a date many dispute. We will call it the 100th year birthday of martensitic stainless, and bow out of the controversy.
  • Average price of cash nickel so far this month - $6.40/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings as Investors Weigh Timing of Fed Stimulus Tapering - more
  • LME Morning - Copper prices seesaw around $7,300/t, complex otherwise flat - more

  Reports

  • Moly Review Issue 2, 2013 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.38
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (WSJ) Mirabela has continued to rack up heavy losses at its flagship Santa Rita nickel mine in Brazil, despite progress on driving cash costs of production lower.
  • Zimbabwe's Robert Mugabe vows to continue sweeping black empowerment - more
  • Small Business Optimism Up Marginally - more
  • China's July power consumption rises 8.8 pct - more

    Surge in raw material imports 'positive' - China's commodity market may be on the brink of a recovery as the economy stabilizes and investment picks up, an economist said. - more

    China slowdown exposes debt stress in raw materials - China's slowing economy has hammered businesses supplying the raw materials for growth, with coal and aluminium firms at risk of defaults and closures after clocking up at least $490 billion of debt in a rush to expand. - more

    Breakdown of Production Plan for Special Steel Products in Jul-Sept 2013 - As to the production plan for hot-rolled special steel products in the period from July to September in 2013 compiled by Ministry of Economy, Trade and Industry, the breakdown by steel type has become clear. - more

    Zimbabwe: Trojan Reacts to Weakening Nickel Prices - Bindura Nickel Corporation (BNC) subsidiary, Trojan mine, is now target high-grade nickel ore known as the 'massives' as prices of the metal continue to weaken, the company revealed this week. - more

    Stainless steel expo shines - The eighth Shanghai International Stainless Steel Exposition (STEXPO 2013) will be held from Sept 4 to Sept 6 in Shanghai and is expected to boost the industry by setting up an information exchange platform for companies and investors. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, August 13

  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 $6.68/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.07/lb higher with other base metals higher, but for a second day, not experiencing quite the enthusiasm from traders that nickel is. Stockpiles of nickel rose to a new all time record high on Monday, after  large shipments took the total to 205,890 tonnes. This is the fourth record set in the nine working days of August. Nickel closed above resistance for a second consecutive day yesterday, which sends a bullish technical signal to the market. We show next line of resistance at just shy of $7/lb (around $6.95/lb). The rise is now feeding on itself, with fundamentals not supporting the rate of increase, and short covering adding support. An increase based on fundamentals has staying power, while a technical run can loose momentum as fast as it gained it. Positive news out of China last week helped get turn traders bullish, but there has been little news since. Fund money being pulled from equity markets may be assisting, but we are doubtful there is enough rolling in to have much of a lasting effect. Now one knows where prices will go, but we see little reason a this point, to see why the next line of resistance will fall as quickly as the last did. The short term trend remains bullish, while the mid and long term trends remain bearish.   
  • Average price of cash nickel so far this month - $6.37/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Heads for Highest Close Since June Amid Rebound Signals - more
  • LME Morning - Base metals build on gains, copper at fresh 2-mth high - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.07
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SSY) China's daily steel production for the last ten days of July fell by 2.2% to 2.084 Mt, according to data from the China Iron and Steel Association. Stockpiles remain 6.9% above the levels seen in the same ten days in 2012.
  • Iron Ore Gluts Seen Through 2017 on Record Supply: Commodities - more
  • Glencore cuts budget for $5.9 bln Philippine project - more
  • Jindal Stainless’ Q1 net loss widens to Rs 475 cr - more
  • Global Industrial Fasteners Market is Expected to Reach USD 94.65 Billion in 2018 - more
  • Negative IOD remains the key Australian climate influence - more

    China's nonferrous metals sector hurt by excess smelting capacity: NDRC - China's nonferrous metals sector struggled from excess intermediate smelting capacity in the first half of 2013, compared with smaller upstream and downstream operations, the National Development and Reform Commission said in a report Tuesday. - more

    Chinese non-ferrous metal output saw steady increase during initial six month - The non-ferrous metal output by China during the initial six months of the year 2013 has shown significant improvement. - more

    Nickel - The ins and outs of the metal - Is it a bird? Is it a plane? No, it’s a metal of steel. Well, stainless steel that is. - more

    Russia’s Buffett-Gates Follower Charts a Path to Charity - In his suite at the Four Seasons hotel in New York shortly before Christmas 2010, Bill Gates, now the world’s richest person, got some advice from the world’s No. 82. - more

    Courtesy AISI - In the week ending August 3, 2013, domestic raw steel production was 1,888,000 net tons while the capability utilization rate was 78.8 percent. Production was 1,855,000 tons in the week ending August 3, 2012, while the capability utilization then was 74.6 percent. The current week production represents a 1.8 percent increase from the same period in the previous year. Production for the week ending August 3 2013 is up 0.9 percent from the previous week ending July 27, 2013 when production was 1,871,000 tons and the rate of capability utilization was 78.1 percent.

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, August 12

  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 $6.66/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.10/lb , with other London traded base metals trading much quieter but mostly higher. Stockpiles of nickel store din LME approved warehouses slipped slightly on Friday and now total just under the 203,950 tonne level. Nickel broke thru our resistant line on Friday, and even with a stronger Dollar adding a headwind, it continues to rise. A second close above $6.58/lb today, would mean our next line of resistance moves to $6.95/lb. Nickel is riding a wave of optimism about China's economic recovery, and while overdue for a positive run, it has already jumped into over bought territory. Japan's slower growth rate than expected is having a negative effect on equity trades around the world, and appears to be weighing on many of base metals trades, but nickel so far, has escaped any negative scrutiny. Nickel's bull run appears to be feeding on itself, and we will have to see if future technical signals will help keep prices moving higher.
  • Average price of cash nickel so far this month - $6.32/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - London copper extends gains to 2-mth high on China outlook - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.03
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Tin, lead to outperform; copper, nickel to underperform in H2 - Barclays
  • (SSY) Chinese crude steel production in July was 65.5 Mt, up 6.2% YoY, according to data from National Bureau of Statistics. As a result output in the first seven months of this year reached 455.8Mt, up 7.1% YoY.

    China's Prices of CR Austenitic Stainless Sheets Might Bottom Out at Last - As Taiyuan Iron & Steel and Baoshan Iron & Steel of China left their domestic prices of cold-rolled (CR) austenitic stainless steel sheets unchanged for August shipment, those prices are thought to have bottomed out at long last. POSCO of Korea reduced its domestic prices of austenitic ones by 400,000 won ($360) for August shipment. - more

    Lawsuits to air London Metal Exchange’s dirty laundry - Lawsuits alleging aluminium price fixing by big banks will shine an uncomfortable light on the role played by the London Metal Exchange, suggesting that the murky world of metal trading is likely to attract more attention from the authorities. - more

    Steel Americas cloud hangs over Germany's ThyssenKrupp - Pressure is growing on ThyssenKrupp to shore up its strained balance sheet by raising new capital as talks on selling its loss-making steel mills in the Americas drag on. - more

    Outokumpu Oyj : Outokumpu provides stainless steel facade for China's highest skyscraper - Outokumpu has won a bid to provide stainless steel for the facade on Ping An Finance Center in Shenzhen, China. The skyscraper's facade will be the largest stainless steel facade in the world. - more

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, August 9

  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 $6.50/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.08/lb higher, with all London traded base metals trading higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and now total just over the 124,000 tonne level. Nickel ended stronger yesterday on positive Chinese economic data and a stronger Euro. More positive economic data, primarily a strong pickup in Chinese July industrial output, is helping boost the traded price of nickel further so far today. Trading punched thru our resistance line of $6.40/lb yesterday and a second close above that level today, which appears highly likely, would put our next line of resistance at $6.58/lb. The short term trend for nickel has turned positive, mid term is sideways, and long term remains bearish. Asian markets were nt as impressed as commodity traders are with the results and ended only slightly higher,. European markets are mostly lower this morning, while England markets are higher. US futures are trading lower. Track monthly US stainless steel surcharges since 2006 here. Track monthly PMI figures since 2005 here. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $6.28/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - London copper at 2-month top after upbeat China data - more
  • Bloomberg metals morning - Oil Gains With Metals on China as S&P 500 Futures Drop - more
  • LME Morning - Base metals rise, breach technical levels on bullish data - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.45
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • China's industrial output growth picks up in July - more
  • U.S. Fastener Imports & Exports both Contract in June - more

    Kevin Rudd lukewarm on mining tax, although he rules out changing it - Kevin Rudd has wiped his hands of the revamped mining tax negotiated by Julia Gillard, saying it was devised in response to a resource industry scare campaign and that others can draw their own conclusions about it. - more

    (Past Links we have posted worth saving) Nickel pig iron – A long term solution? - presentation given by Hatch at the 3rd Euronickel Conference in Helsinki - pdf here

  • Chinese Stainless Steel Industry in 2012 - The Magazine Press for China Stainless Steel Market - pdf here
  • Stainless steel a bright future in a changing world? - BIR World Annual Conference - pdf here

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, August 8

  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 $6.34/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.11/lb higher, with all London traded base metals trading higher this morning. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now totals just over the 204,100 tonne level. China released much improved export and import numbers for July, nd equity markets, as well as commodity trading, is higher on recovery optimism. Imports were especially strong, implying domestic demand improved after faltering in June. Trading remains confined to the low $6/lb range, unable to break above our resistance line of $6.40/lb, and unwilling to close below $6/lb. Record stockpiles continue to weigh heavy on those who still feel supply and demand matter. Now legal controversy is breaking out about bankers owning commodity warehouses and accusations they are manipulating deliveries to drive prices higher. While the legal action is limited to aluminum, the topic is dragging all base metals trading into question, with the London Metal Exchange named as a defendant. Uncertain if this will have an effect on current trading, but worth following the story as it matures.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper at near two-month high on encouraging China data - more
  • LME Morning - Base metals rally on Chinese optimism, Copper breaks 100 DMA - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.37
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Rio Tinto says H1 profit down by 71% - more
  • China's exports improve in July - more

    London Metal Exchange Said to Consider People for CEO - The London Metal Exchange, the largest industrial-metals futures bourse, is considering three people for the role of chief executive officer, according to two people familiar with the process.  - more

    China Ferrochrome: Spot prices steady, import deals heard - Chinese domestic spot prices of high carbon ferrochrome (50% basis Cr) remained steady at Yuan 6,850-7,000/mt (equivalent to 84-86 cents/lb) delivered with value-added tax on Wednesday on little change in market fundamentals. - more

    Export of SUS Scrap in June 2013 Is 11,984 Tons, down from Prior Month - According to the customs statistics prepared by the Ministry of Finance, the result of export of stainless steel scrap in June 2013 was 11,984 tons, considerably down by 30.3% from the prior month. - more

    ENRC Q2 Gross Ferrochrome Production Up 4.0% - Quick Facts - Eurasian Natural Resources Corp Plc.reported that its second-quarter of 2013 overall gross ferrochrome production increased by 4.0% compared to the second-quarter of 2012, with a 6.5% increase in high-carbon ferrochrome. - more

    SSINA Investigates Stainless Bar Import Surge - The Washington-based Specialty Steel Industry of North America is voicing concern over a substantial increase in stainless steel bar imports. U.S. government statistics show bar imports increased from 108,690 tons in 2010 to 146,071 tons in 2012, a 34 percent hike. - more

    Glencore, JPMorgan sued over warehouse aluminum prices - Glencore Xstrata and JPMorgan Chase & Co face a U.S. lawsuit alleging they artificially inflated aluminum prices and disrupted supplies, as legal challenges related to metal warehousing piled up this 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, August 7

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.23/lb . Indicators at6:50 am CST today show 3 month nickel trading around $.03/lb lower, with all London traded base metals trading lower this morning. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday, and now total just under the 204,000 tonne level. Markets around the world are lower again as fears rise again, that the Fed could start cutting off the flow of the free money that has been stoking the markets for the last few years. We have been down this road before, and we expect to see the Fed send out signals again to the markets, that there will be no cold turkey treatment forced on the addicted market. All this is accomplishing is to put a fear into the Fed on the potential market reaction to any tapering, whether timed correctly or not. For those of you who believe the market is a reflection of the economy on a whole, this is another example of that is not always correct. The tapering will end when the Fed is assured the economic recovery is strong enough to stand on its own. Good news economically means good news for the price of a stock, right? Wrong. Traders are only concerned about corporate profits and what that will do to the value of their investment. And day traders don't even care about that,  they are trading charts, graphs and averages. In the mean time, nickle short term trend is sideways, while mid term trend has again joined the long term trend downwards.
  • Average price of cash nickel so far this month - $6.27/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning - Base metals coast, copper dips back below $7,000/t - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.39
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (FAN) In the year 2012, China produced about 16 million tons of stainless steel. China produced about 9.29 million tons of stainless steel during Jan-Jun 2013.

    Analysis - Commodity funds on track for big launch year in uncertain market - An ex-Glencore oil trader and a veteran grains merchant with futures broker R.J. O'Brien are among those behind the largest number of commodity fund launches in 3 years despite investor worries the multi-year rally in those markets is over. - more

    France writes off huge New Caledonia nickel debt - The French government has decided to forgive New Caledonia a debt of 385 million US dollars dating back to the 1970s. - more

    Speaker's Corner: Piercing of corporate veil in Hudbay case may send Canadian companies elsewhere - Compañía Guatemalteca de Níquel (Guatemala Nickel) owns and operates the Fenix nickel mine in Guatemala. Between 2007 and 2009, there were some unfortunate security incidents at the mine when protesters clashed with police and private security details working for a security contractor that had been retained by Guatemala Nickel. - more

    CFTC's Chilton to Fed: Cut banks' ties to commodities - The Federal Reserve should reverse its policy of allowing investment banks to own metals warehouses and commodity infrastructure assets, a top U.S. derivatives regulator said on Monday. - more

  • Aluminium premiums dip in Europe after move to reform storage - Aluminium premiums have slipped in Europe this week due in part to proposals to address bottlenecks associated with warehouse ownership, but they remain near record levels as the market assesses the future of the metals storage business. - more
  • Brazil's BTG hires metals warehousing exec in commodities push - Brazil's Grupo BTG Pactual SA has hired Shon Loth, a metals warehousing expert, an official said on Monday, as Latin America's largest independent investment bank continues to build its physical commodity trading business. - more
  • Broker Marex Spectron in talks to buy JP Morgan's warehousing arm - report - London commodities broker Marex Spectron is in talks to buy the metals storage unit owned by JPMorgan Chase & Co., the Times of London reported.- more

    Voestalpine confident steel market on the mend - Demand from manufacturers for steel is finally showing signs of stabilising, Austrian producer Voestalpine said on Wednesday, lifting its confidence in its profit forecasts as it predicted rises in world 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, August 6

  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 $6.29/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.04/lb higher, with a weaker Dollar helping most base metals trade higher this morning, although off earlier highs. Stockpiles of nickel stored in LME approved warehouses rose to anew all time record high on Monday. After setting a new record for 3 of the 4 reporting days this month, the record now stands at 204,906 tonnes. TrimTabs reported that investors added $40.3 billion into equity mutual fund and ETF's during July, a new record. But cash remains king, with savings deposits and monet market funds gaining $143.4 billion over the prior two months. This interest in equities and nervousness about the market in general is hurting investment interest in nickel, and that apathy is hurting nickel's recovery chances. After bottoming out on July 22, our Chinese stainless steel index has been on the rise, gaining 1% in the last few weeks. That positive price run took a break today, with the index recording a dip. Nickel's short and mid term price trends remain sideways.
  • Average price of cash nickel so far this month - $6.26/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper gains on weak dollar, China data eyed this week - more
  • LME Morning - Base metals in holding pattern, copper price steady above $7,000/t - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.43
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • MIIT: Chinese crude steel output rises by 7.4% in H1
  • Foxconn in pair blamed for Yangtze Delta nickel taint - more
  • Mwana impairs BNC assets - more

    Falling profits for Vale - Battered by falling iron ore and nickel prices, Vale on Wednesday is expected to report a 30% drop in second-quarter profit to $1.85 billion US from a year earlier, analysts are predicting. - more

    Market Trend of Import of Ferroalloy as of July 31, 2013 = Manganese metal market rebounds, and Mo oxide remains at low level of US$9's/lb = Current market trend on import of ferroalloy as of July 31, 2013 is as follows. - more

    South Africa's Merafe reports 30 pct drop in H1 profit on write-down - South Africa's Merafe Resources reported a 30 percent decline in first-half earnings on Tuesday after the ferrochrome producer was hit by a write-down related to a potential asset sale. - more

    From Merafe Resources mid year results - "Market review Global stainless steel production was 19.2m* tonnes in the first half of 2013 which was 7% higher than the 2012 comparative period. Global consumption of ferrochrome reached 5.1m* tonnes in the first half of 2013, driven by stronger stainless steel production. Despite a strong start to the year, stainless steel production continues to be threatened by global economic uncertainty and weak market sentiment. In addition, the downward trend in the nickel price continues to negatively impact prices, keeping inventory levels and apparent consumption of stainless steel suppressed. Global ferrochrome production was 4.8m* tonnes in first half of 2013 which was 3%* higher than the comparative 2012 period. China remains the determining factor in the industry producing more than 47%* of the world’s stainless steel and accounting for 37%* of the world’s total ferrochrome production in the first half of 2013. Chinese ferrochrome production continues its forward growth momentum and China maintained its position as the largest producing country in the world. China is currently ahead of South Africa, which accounted for only 29%* of global ferrochrome production in the first half of 2013. Ferrochrome supply from South Africa was most impacted in the first half of 2013 by producers participating in Eskom’s buyback programme. Most South African ferrochrome producers are expected to produce at higher capacity utilisation rates in the second half of 2013, post the buyback programme. South African ferrochrome imports into China continue to be displaced by domestic Chinese ferrochrome production on the back of unbeneficated chrome ore exports from South Africa. It is estimated that 3.1m** tonnes of chrome ore was imported into China from South Africa in the first half of 2013, which is an increase of 48% period on period. The South African ferrochrome industry has continued to advance its engagement with the South African Government to find sustainable solutions to this challenge. The European benchmark ferrochrome price for the first quarter of 2013 was settled at 112.5 USc/lb and increased to 127USc/lb in the second quarter of 2013. The third quarter European benchmark ferrochrome price was settled at 112.5USc/lb. (source)

    Courtesy AISI - In the week ending August 3, 2013, domestic raw steel production was 1,888,000 net tons while the capability utilization rate was 78.8 percent. Production was 1,855,000 tons in the week ending August 3, 2012, while the capability utilization then was 74.6 percent. The current week production represents a 1.8 percent increase from the same period in the previous year. Production for the week ending August 3 2013 is up 0.9 percent from the previous week ending July 27, 2013 when production was 1,871,000 tons and the rate of capability utilization was 78.1 percent.

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, August 5

  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 $6.35/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb lower, with most other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell slightly on Friday from record levels, and now total just over the 204,200 tonne level. World equities markets saw solid increases last week, while three month nickel managed a $.07/lb increase. We still show $6.40/lb as major resistance, with support at $6.08/lb. Little market news. Falconbridge, then Xstrata, is now SINO - Sudbury Integrated Nickel Operations. The Specialty Steel Industry of North America is complaining about growing imports of stainless steel bar, although China wasn't on the list of offending exporters this time. Italy, Taiwan, Germany, and India all mde the list this round.
  • Average price of cash nickel so far this month - $6.26/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings Between Gains and Drops Amid Signs of U.S. Rebound - more
  • LME Morning - Base metal prices mixed, lack of interest weighs - more

  Reports

  • Standard Bank Commodities Daily - pdf here (nickel featured)
  • Sucden Quarterly Metals Report - pdf here
  • Steel Founders' Society Of America CASteel Reproter - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.46
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more

     Imports of Stainless Steel Bar Up Substantialy, Says SSINA - The Specialty Steel Industry of North America (“SSINA”) expressed growing concern over the substantial increase in imports of stainless steel bar - more (pdf)

    New Xstrata name stresses integration - One of Sudbury's biggest employers has changed its name again. The Sudbury operations of what was once Falconbridge, then Xstrata Nickel, are now known as Sudbury Integrated Nickel Operations, a Glencore Company. - more

    Miners won't get a leg-up from state - Gold and nickel miners will not get a lifeline from West Australian premier Colin Barnett, who said he will not be handing out royalty assistance to those affected by falling commodity prices. - more

    China's steel output to hit record high in 2013 -NDRC - China's steel output is expected to rise 9 percent from a year ago to a record high of about 780 million tonnes in 2013, the country's economic watchdog said on Friday, even as a slower economy points to a modest growth in demand. - more

    (Customs Statistics) Japan's Imports of Ferro Alloys in June 2013 - more

    Nickel miner records operating profit fall - The owner of the Ravensthorpe nickel mine has recorded a 37 per cent drop in its operating profit, driven largely by falling metal prices. - more

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, August 2

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.30/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher, with all London traded base metals trading higher was well. Stockpiles of nickel stored in LME approved warehouse took a break yesterday, but did gain six tonnes, setting a new all time record high total of 204,336 tonnes. Nickel was trading strong yesterday early on positive Chinese and European PMI readings, but lost momentum as the Dollar strengthened when the US PMI came out stronger than the others. Economists appear to be forecasting strong job growth during July for the US, and European markets are idling in anticipation of the report. Nickel continues to trade sideways with gains followed by losses, and overall the market price doing little. There are just as many reasons to believe the price could start increasing as there are that the bear market will continue. In our opinion, it all depends on fund money investment. Should nickel pull off a small positive trend, it could draw some attention from a sector always on the look out for a place to temporarily park some retirement money. US payroll is released in about 1/2 hour so watch teh Kitco graph to the right for the immediate reaction amongst nickel traders. Have a safe and relaxing weekend!
  • Average price of cash nickel so far this month - $6.24/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper at highest in more than a week, US jobs awaited - more
  • LME Morning - Base metals tread water ahead of US non-farm payrolls - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.41
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Panoramic feels pinch of nickel price dip - more
  • Clive Palmer company avid fan of CSG  - more
  • China treads cautiously to rebalance economy - more

    Nickel producers fend off output cuts as losses mount - Nickel miners are clinging to plans to maintain production, despite a growing supply glut and prices around four-year lows, raising the risk of more write downs and losses being unveiled in the current financial reporting season. - more

    Crude SUS Steel Production by Major SUS Steel Mills in June Is 311,804 Tons =Up by 4% from prior month, and NSSC, Hikari Works and Nisshin Steel, Shunan Works resume production= The crude stainless steel production by 7 major stainless steel mills in June 2013 was 311,804 tons, up by 4.2% from the prior month (296,377 tons). This represents an increase of 5.2% versus the year-earlier month (296,377 tons). - more

    China's steel output to hit record high in 2013 -NDRC - China's steel output is expected to rise 9 percent from a year ago to a record high of about 780 million tonnes in 2013, the country's economic watchdog said on Friday, even as a slower economy points to a modest growth in demand. - more

    Stainless steel industry in dire straits - Squeezed between high costs of raw materials and low prices for finished products, Indian stainless steel producers have cut operating capacity by 20 percentage points so far this year. From 55-60 per cent until last year, they are currently operating with 45-50 per cent of installed capacity. - more

    Tanzania: Kabanga Nickel Project - Light At the End of Long Tunnel - The much-awaited Kabanga Nickel Project will soon start its operations, bringing fresh hopes to many in terms of labour and employment, according to President Jakaya Kikwete during his recent tour of Kagera Region. - more

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, August 1

stainless steel bolts   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 $6.29/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and set a new all time record high of 204,330 tonnes. We knew the Chinese PMI number released earlier was good without even seeing it, when we saw nickel trading higher this morning. Many had suspected Chinese manufacturing had fallen below 50 in July, but the report today showed it had grown from June's 50.1 to 50.3 in July. Markets love positive surprises and equity markets in Asia ended higher, Europe is trading higher, and US futures are pointed higher. And while nickel is trading higher, swelling stockpiles are weighing down its acceleration potential. Markets are also higher after the US Fed ended their meeting and lowered economic expectations. Once again, bad new s for the economy is good news for the market, because unless the economy gets better, the Fed will not curb its tapering - that cheap money flow that the market has come to depend on. MEPS announced their forecast yesterday for world stainless steel production for the remainder of 2013 and in our opinion, they are playing it safe. Considering the ISSF shows first quarter production was 6% higher than the first quarter of 2012, an annual forecast of 2.9% higher would appear to be fairly conservative.
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Metals prices bounce solidly, feed off upbeat data flows - more

stainless steel nuts   Reports

  • ThyssenKrupp Stainless USA August Stainless Steel Surcharge - more
  • Dysfunction in London Metals Exchange warehouses - video here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

stainless steel flat washers   Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.41
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Taiwan’s Yusco leaves domestic stainless price flat for August
  • Guatemala: mining companies are dealt setbacks - more
  • DMCI expects lower 2013 core earnings after reduction in Maynilad stake - more

    Norilsk sees Indonesia ore ban supporting nickel price - Nickel prices could recover next year, when Indonesia brings in a planned ban on unprocessed ore exports, said executives from Russia's Norilsk Nickel, the world's largest producer of the metal. - more

    Record Global Stainless Steel Output Forecast for 2013 - Global crude stainless steel production is forecast to achieve an all-time high figure of 36.4 million tonnes in the calendar year, 2013. This would be 2.9 percent above the previous record mark, set last year. - more

    Aug SUS Scrap Price Shows Perception Gap Between SUS Mills and Scrap Dealers =SUS mills wait and see, and scrap dealers estimate price hike to be JPY5,000= There has been a perception gap about the price of nickel-containing stainless steel scrap (SABOT) meant for domestic consumption in August 2013 generated between stainless steel mills and scrap dealers. - more

    Sherritt announces spending cuts - Following a major loss in the fourth quarter last year and a small profit in the first quarter, Sherritt International Corp. announced another loss for its second quarter. As a consequence, the company said it will cut capital spending 13 percent this year. - more

    China's moves to cut metal capacity just getting started: Clyde Russell - China's plans to force more than 1,900 companies to cut excess capacity in bloated industries including aluminium, steel and copper have met with an underwhelming response from the market. - more

stainless steel lock washers   Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

 July Archives


Chart Info Delayed 1 Day

Chart temporarily down

Chart temporarily down


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


"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.

Site Sponsors

Advertise your company on this site

Your banner here

6/4 Market Prices
not official prices

ferrochrome and chromium prices

Moly Oxide (>51%)
$10.90/lb
 
Source

6/4 Scrap Price

Stainless Steel (LTL/ton)
$.67/lb
 ferrochrome prices and molybdenum prices

MEPS Stainless Steel Price Index

Global 304 SS Index

nickel prices

North America 304 Index

price of stainless steel

EU 304 SS Index

price of nickel

Asia 304 SS Index

Other Sites

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

Today's Market

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


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

Price of Nickel

Nickel Graph Temporarily Down

1 and 5 year nickel chart

JP Morgan Delayed Price

Daily Commodity Prices

Site Pages

Nickel Price Charts/Forecasts
Stainless Steel Graph/Charts
Stainless Steel Surcharge
Nickel/Stainless Research
Stainless Steel Literature
Make your own charts
Ferrochrome Facts
Worldwide PMI

Archives

2020
January February

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

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

2017 and prior



nickel news




Nickel Publications at Amazon

Contact author  /   EStainlessSteel Home Page

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

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