This
page is archived news covering the period of August 2013
If you are looking for current daily market news, please visit
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
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
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)
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
(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)
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
(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.
(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)
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
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)
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
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)
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
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)
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
(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)
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
(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)
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
(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
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)
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
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)
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
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)
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
(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)
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
(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
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)
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
(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)
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
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)
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
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)
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
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)
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
(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)
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
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)
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
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)
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
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)
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
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
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
Morning Nickel Inventory and Price Statistics &
Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.11/lb
Reports
Commodity/Economic Comments
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. -
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. -
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. -
Morning Nickel
Inventory and Price Statistics & Figures
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. -
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. -
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.
-
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. -
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. -
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) -
. Indicators at
7:00 am CST today show 3 month nickel trading around $.06/lb
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.
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). -
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. -
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). -
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.
- 
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.
-
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. -
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.
-
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. -
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. -
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 -
What
Happens When You Drop A Red Hot Ball Of Nickel Into Peanut Butter -
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. -
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.
-
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
