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news covering the period of August 2019
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Friday, August 30
Abridged Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed yesterday's trading session at $7.46/lb (16,455/tonne). Indicators at 7:25 am CST today show
nickel trading around $.57/lb
higher. Stockpiles of nickel stored in LME licensed warehouses jumped
as well on Thursday and now total just under the 152,500 tonne level.
As you can probably imagine by the new five year record high price, the
Indonesia rumor is now confirmed. According to the SMM website,
Indonesia's Ministry of Energy and Mineral Resources announced that
nickel ore containing less than 1.7% nickel will no longer be allowed
to be exported from Indonesia effective the last day of 2019 (source).
It could be argued that this verdict had pretty much been priced into
the market, but with the Papau spill putting the future of that mine
into peril, traders appear to have momentarily lost their minds. When
you step back from these bull runs, you see they quickly become less
about the fundamentals, ie the facts of supply and demand, and more
about 'gettin' while the gettin's is good'. Computers and algorithms
run by large firms are now in control and the little guy can play along
and make some money, or get burnt badly. Stainless steel producers and
users are waking up this morning with their heads in the hands. This
means their prices will continue to rise well into fall ... at the very
least. Budgets are blown for the remainder of the calendar year. A
three day Labor Day holiday begins this afternoon in the US, so our
next update will be on Tuesday. Have a safe and relaxing weekend and we
will see if the market has regained its composure by next week. Thank
you for spending some of August with us and we will hopefully see you
in September.
Average price of LME traded cash nickel so far this month
- $7.06/lb
Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /
Reports
Reuters metals morning - Nickel jumps as waste spill sparks supply fears - more
In the scrap metals business, replacing China is tough - more
China is blunting the blows of Trump's trade war and just grabbed an even bigger share of global exports - more
Yesterday's market review - Nickel gains as waste
spill highlights supply worries - Nickel prices rose on Thursday after
a waste spill threatened to close a processing plant in Papua New
Guinea, adding to fears of supply shortages. - more
Nickel price forecast revised up as speculative rally boosts tight
market — report - Analysts at Fitch Solutions are revising up their
nickel price forecast for 2019 to $13,550/tonne from an average of
$13,250/tonne previously, as prices have experienced a strong
speculative rally over July and August. - more
US Steel Prices Rebound in August - US
flat product steelmakers are bucking the seasonal price trend, by
pressing for a rise in local values, despite the summer lull in
activity. - more
Indonesia to Lose European Commission Safeguard Exemption - The
European Commission recently completed its review of the safeguard
measures, which were introduced to prevent the redirection of material
previously destined for the United States. - more
Taiwan extends AD tariff on Chinese & South Korean CR stainless
steel for 5 years - According to the news from the Ministry of Finance,
R.O.C. (Taiwan), the Taiwanese government decided to levy an
anti-dumping tariff on 300 series cold-rolled stainless steel products
from China and South Korea for the next 5 years. - more
Thursday, August 29
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Wednesday's trading session at $7.30/lb
($16,090/tonne). Indicators at 6:15 am CST today show
nickel trading around $.03/lb
higher. Stockpiles of nickel stored LME licensed warehouses rose yet
again on Wednesday and started today just over the 150,700 tonne
level. It appears for the second time this summer , inventory numbers
will grow during the month. Cancelled warrants have spent the last week
and a half in the 25% range, but jumped to near 29% yesterday, implying
someone is buying. But who? Is it an end user who is gearing up for
September, or a trading house gambling that they can stoke a bigger
price rally with their purchases? We suspect the news from Papau New
Guinea and the spill there, which has been followed by calls to shut
down the mine, coming on the back of threats by the Indonesia president
to accelerate the ban on shipping nickel ore, compounded by a missing
ship of ore from Indonesia, have created a witches brew of uncertainty
that markets hate, but profit from. Nickel jumped back over the
$16,000/tonne level yesterday, and has settled down and is trading
around the $7.33/lb level today. With Monday being a holiday here in
the States, we will post an abridged update tomorrow, with our next
update being the following Tuesday. Tomorrow's update will be posted
about an hour later than typical. Until then...
Average price of LME traded cash nickel so far
this month
- $7.05/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Nickel rises on signs of near-term tight supply - more
China Indicates It Won’t Retaliate Now on New U.S. Tariffs - more
Even Trump-Loyal Steelmakers Flummoxed by
Trade-Policy Flux - more
Europe Stocks, U.S. Futures Jump on Trade Optimism: Markets Wrap - more
Wednesday's market review - Nickel
touches one-week
high on Indonesia worries, inventories - Nickel prices hit their
highest in a week on Wednesday as speculators bought on fears of
shortages from major producer Indonesia, while at least half of London
Metal Exchange inventories were under the control of one party. - more
Steel remains key to medium-term nickel price with electric vehicles on
horizon - The price of nickel has soared more than 50% since the start
of 2019, topping US$16,000 per tonne in early August before settling at
US$15,750/t on Aug. 21 against a backdrop of rising electric vehicle
demand and supply concerns. - more
Yusco increases stainless steel price for Sep - On August 29th, Yusco,
the largest stainless steel manufacturer in Taiwan, announced to
increase its stainless steel price for September, the same as the
expectation from the market. - more
Mining giant looks to wind and solar to power huge nickel project -
Australian mining giant Oz Minerals says it is looking at use wind and
solar to provide the bulk of the power needs for a giant new nickel
project in a remote part of central Australia near the border of South
Australia and West Australia, some 800kms west of Uluru. - more
Rai Coast MP
Calls for closure of PNG's Ramu Nickel Mine - Member
for Rai-Coast in Madang Province Peter Sapia is calling for the
immediate closure of the Ramu Nickel Mine's Basamuk refinery. - more
Papua New Guinea may shut Chinese-owned nickel plant after spill - more
Landowners Convert Mine Royalty Into Business Opportunities - A
landowner group from Kurumbukari in the Usino-Bundi district, host of
the Ramu nickel-cobalt mine in Madang are investing their mine royalty
for the future. - more
Voisey's Bay underground development hits 10% completion - The quest to
mine nickel from beneath the ground at Voisey's Bay in Labrador is
picking up steam with more than 430 workers on site. - more
Superconductivity in a nickel oxide material - Scientists
at the US Department of Energy's SLAC National Accelerator Laboratory
and Stanford University have made the first nickel oxide material that
shows clear signs of superconductivity - the ability to transmit
electrical current with no loss. - 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 news and information free of charge.Contact us
Wednesday, August 28
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Tuesday's trading session at $7.12/lb
($15,700/tonne). Indicators at 6:15 am CST today show
nickel trading around $.10/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose
slightly on Tuesday and started today just over the 150,500 tonne
level. Busy news day today, but noting to really explain the jump in
prices this morning. Yesterday started with a similar bounce, as bulls
try to pull the price closer to the $16,000/tonne level. Yesterdays
attempt was less than successful, as closing prices have stayed in a
narrow band since last Wednesday. Three trading days left in August,
and nickel remains one of the success stories in otherwise shaky
trading markets. Downstream users are paying the price for this
success, but miners are reaping the benefits. Are we in the beginning
stages to a bull market that could last for years? Or is this just
another price spike in an otherwise bearish market? We would love to
tell you, but we have no idea where the market will close today, so
stay tuned and we will find out together.
Average price of LME traded cash nickel so far
this month
- $7.03/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Copper prices ease amid global economic uncertainties - more
Amazon warehouse data shows tariffs hit US
vendors harder - more
China could become world's largest importer within five years: Report - more
Expect The Resiliency Of Base Metals'
Fundamentals Despite Macro Negativity To Push DBB Higher In H2 2019 - more
Stocks Mixed Under Cloud of Trade Feud; Oil Gains: Markets Wrap - more
Positive Indian Ocean Dipole pattern continues - more
Tuesday's market review - Copper
steadies but
demand doubts keep prices near two-year lows - Copper prices steadied
on Tuesday but remained near two-year lows on worries about damage to
industrial activity and demand from the prolonged U.S.-China trade war.
- more
New projects for battery material nickel need a price spur - Rapidly
rising use of nickel in the batteries that power electric vehicles over
coming years means higher prices are needed to incentivize the
development of new projects to boost supplies of the metal. - more
(translated) Indonesian official Luhut explains why Indonesia
wants to ban mines in advance - According to CNBC, the Indonesian
government plans to speed up the ban on nickel ore exports, which will
take effect in 2022. - more
Indonesia's Export of Stainless Steel Semi-products in June 2019 - =
Ingot is 17,000 tons and flat roll is 143,000 tons = Indonesia's
foreign trade statistics shows the export volume of stainless steel
semi-products in June 2019 was 17,312 tons of ingot (slab/HS: 7218),
drastically down by 41.8% from the prior month. - more
Gov’t wants mining firms to pay higher fees for mine wastes - The Mines
and Geosciences Bureau (MGB) is planning to require all mining
companies in the country to pay higher mine waste and tailing fees as
part of the amendments in the Implementing Rules and Regulations (IRR)
of the Philippine Mining Act or the Republic Act (RA) 7942 the agency
is now pushing for. - more
Taiwanese stainless steel mills disapprove government to levy AD &
CVD duty on Chinese HR stainless steel - On June 14th, the Taiwanese
government made an initial ruling that the imports of hot-rolled
stainless steel from China might bring substantial damage to Taiwanese
market, and the Taiwanese Ministry of Finance made a quick response on
July 5th that those imported stainless steel from China needed to be
levied an anti-dumping duty and countervailing tariff by 26.38% to
32.58%, and 43.86 respectively. - more
Rickford Brings Update on Ferrochrome Plant to The Sault - Ontario’s
Minister of Energy, Northern Development and Mines Greg Rickford was in
Sault Ste. Marie on Tuesday to discuss updates on the Ring of Fire
project, set to start production in 2025, with the completion of the
ferrochrome plant set for 2028. - more
DMCI Mining nickel ore shipments up 41% in H1 - DMCI Mining Corp., a
unit of publicly listed DMCI Holdings Inc., on Tuesday said its
shipment of nickel ore grew 41 percent during the first half of the
year, even though the company has not been able to mine all of its
sites. - more
Ontario eyes pragmatic approach to Ring of Fire - The Ontario
government is prepared to take “a more pragmatic approach” to unlocking
the mineral wealth that is waiting to be mined at the Ring of Fire
region of northern Ontario. - more
Ontario rips up Ring of Fire deal with First
Nations to pursue bilateral talks - more
Vale Keen to Meet Jokowi to Push for Divestment Decision - Jakarta.
Vale Indonesia, the country's largest nickel producer, said they were
looking forward to a meeting between President Joko "Jokowi" Widodo and
the top executive from its Brazilian parent company Vale to discuss the
divestment of the company's shares to a local entity. - more
Courtesy AISI - In the week ending on August 24, 2019, domestic raw
steel production was 1,877,000 net tons while the capability
utilization rate was 80.6 percent. Production was 1,861,000 net tons in
the week ending August 24, 2018 while the capability utilization then
was 79.4 percent. The current week production represents a 0.9 percent
increase from the same period in the previous year. Production for the
week ending August 24, 2019 is up 1.1 percent from the previous week
ending August 17, 2019 when production was 1,857,000 net tons and the
rate of capability utilization was 79.8 percent. - more
Morning Nickel Price Statistics & Figures
Today's almost official prices here / Yesterday's
actual LME official prices here or here
Shanghai Jinchuan nickel price - available here
or here(updated)
Please let us know if any of these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Tuesday, August 27
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Friday's trading session at $7.10/lb
($15,660/tonne). Indicators at 6:00 am CST today show
nickel trading around $.09/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Friday and start the final week of August just over the 150,400 tonne
level. Market seems to be having a problem keeping stockpile numbers
below the 150,000 tonne level, and prices above the $16,00.tonne level.
With London markets closed on Monday, LME
markets might as well have closed on Friday as well. Official and
closing prices
were nearly identical to Thursday. It appears another cargo
ship carrying nickel ore from Indonesia has gone down with 25 crew
members aboard. Intercargo reports that of the 9 bulk carrier sinkings
in the last decade, six of them have been carrying nickel ore from
Indonesia. In light of the recent reports that President Joko might be
looking for a reason to move up the export ban from 2022, the timing of
this accident might have just given him a 'humanitarian' reason to make
such a change. Some trading houses may be thinking the same thing this
morning, as nickel prices are higher after an early morning bump.
While England celebrated its unofficial 'end of summer' holiday
yesterday, the US will celebrate its end on this coming Monday with the
Labor Day holiday. In the mean time, interesting industry news is hard
to find. It's the last week of August, and we wish you a week of
individual success.
Average price of LME traded cash nickel so far
this month
- $7.02/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Nickel on track to close above tin for the 1st time in 9 yrs - more
Trump Asserts He Can Force U.S. Companies to
Leave China - more
China Announces $75 Billion in Additional
Retaliatory Tariffs - more
Trump Says He Will Raise Existing Tariffs on
Chinese Goods to 30% - more
Trump regrets not raising tariffs on China
higher, White House says - more
Stocks, U.S. Futures Drift as Trade Mood Shifts: Markets Wrap - more
Friday's market review - Copper falls
to lowest
since June 2017 as trade war escalates - Copper prices fell to the
lowest in more than two years as an escalating trade conflict between
China and the United States, faltering Chinese economic growth and a
weakening yuan undermined the outlook for demand. - more
Bulk Carrier Disappears off Indonesia - A bulk carrier is feared
capsized after her crew reportedly sent a distress call on Sunday. - more
25 feared dead as Indonesian bulker carrying
nickel ore disappears - more
Anger over spillage from nickel plant into PNG's Basamuk Bay - The
governor of Madang, Peter Yama, says a slurry spillage from the Ramu
nickel mine is the worst environmental disaster in Papua New Guinea. - more
China imported some 1.36 million mt of chromite (chrome ore) in July,
up 2.1% from June but down 0.99% from July 2018, according to the
latest data from China Customs. - more
Visa Steel shuts down plant in Odisha's Jajpur - Visa Steel shut down
its 1.5 million tonne integrated steel plant at Kalinga Nagar on
Friday. - more
Stainless Steel Pdf
Library Week Four
The Atlas Steels Technical Handbook of
Stainless Steels - pdf here
Please let us know if any of these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Friday, August 23
LME markets are closed Monday, August 26th for Bank Holiday.
Abbreviated Friday Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Thursday's trading session at $7.10/lb ($15,660/tonne). Indicators at 7:25 am CST today show
nickel trading around $.02/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose by
the same amount they fell the prior day and started today just over the
150,000 tonne level again. Markets remain subdued and drifting. The
Federal Reserve Bank of Kansas City’s annual Economic Symposium started
yesterday in Jackson Hole, Wyoming and is getting much of the financial
world's attention. England is preparing for a three day weekend and
trading is subdued there. Not much to report today so we hope to see
you Tuesday.
Average price of LME traded cash nickel so far
this month
- $7.01/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Trade hopes boost copper but demand outlook still sluggish - more
Thursday's market review - Industrial metals fall
as trade war hammers China's yuan - Copper and other industrial metals
prices fell on Thursday as the United States and China exchanged
threats in their trade dispute and the yuan slumped to an 11-year low
against the dollar. - more
Indonesian association of nickel miners continues to press the
government to comply with the 2022 export ban timetable -
Indonesian nickel miners association (APNI) said Thursday that it will
continue to ask the government to comply with the 2022 nickel mine
export ban timetable. - more
Clive Palmer's bid to end Queensland Nickel trial rejected - Clive
Palmer has failed in his bid to shut down the Queensland Nickel
collapse trial amid a dispute over the likely profits sought by
liquidators on behalf of their corporate backers. - more
Certain Corrosion-Resistant Steel Products From Taiwan: Initiation of
Anti-Circumvention Inquiry on the Antidumping Duty Order - more
Corrosion-Resistant Steel Products From the
People’s Republic of China: Initiation of Anti-Circumvention Inquiries
on the Antidumping Duty and Countervailing Duty Orders - more
Thursday, August 22
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Wednesday's trading session at $7.14/lb
($15,730/tonne). Indicators at 6:15 am CST today show
nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell for the first time in the last eight sessions,
and started today's session just over the 149,800 tonne level. With no
further news from Indonesia, the nickel market continues to drift
lower. Support appears to be at $15,600 tonne this morning, but its too
early to tell if that's real, or sentimental. Twin Metals signed an
agreement with a local Minnesota construction union yesterday, and
apparently in an attempt to stick a thumb in the eye of the
environmentalists who have been fighting the future mine, made a rather
big deal about it. Been a rather quiet week, with nickel drifting
slowly lower. Surcharges for September are out and they jumped as
expected (here).
This is our final update for the week so we wish each of you a safe and
relaxing weekend. Since LME markets are closed on Monday, our next
planned update will be on Tuesday.
Average price of LME traded cash nickel so far
this month
- $7.01/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Base metals decline as Fed minutes temper rate-cut hopes - more
Bank Indonesia surprises with second rate cut in two months - more
RIP Gina Lopez — Environmentalist, Activist, And Yogi Dead At 65 - more
Tiny tin market sounds a recessionary warning
note: Andy Home - more
Stocks Slip With U.S. Futures; Treasuries Advance: Markets Wrap - more
Wednesday's market review - Copper
prices firm
ahead of Fed minutes - Copper prices edged higher on Wednesday ahead of
U.S. Federal Reserve meeting minutes expected to shed light on actions
to counter slow growth even as the U.S.-China trade war continues to
pose a threat to metals demand. - more
Increasing SUS Production in Indonesia and Its Export to China - more
BCL liquidation gobbles over P1 billion while.... Phikwe BLEEDS,
TREMBLES - While people of Selebi-Phikwe are reeling from unexplainable
tremors that rock the town, leaving their houses with growing cracks –
Government has been pumping millions of Pula into a liquidation of BCL
mine that carries no promise of improving their lives. - more
Twin Metals Minnesota and Union Labor Reps sign project labor agreement
- Twin Metals Minnesota expects union labor to build its copper-nickel
mine in Ely once the project clears its environmental review and
permitting process. - 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 news and information free of charge.Contact us
Wednesday, August 21
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Tuesday's trading session at $7.19/lb
($15,860/tonne). Indicators at 6:20 am CST today show
nickel trading around $.03/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and now total just over the 150,00 tonne level. Levels fell
below 10,000 tonnes on July 16th. Nickel trading continues to be quiet.
Market reminds us of a car in neutral. The car will only move when its
on a downhill grade and like that, nickel is slowly drifting down. We
have seen a few attempts to engage the gears today, and drive the
market higher, but at least for the moment, they have proven
unsuccessful. We still see $16,000 tonne level as a target for the
market to maintain in the short term, so we expect to see some bumps in
the near future. It all depends on what Indonesia decides and until
they announce otherwise, we still maintain they will move up the ban on
nickel ore exports as merely a rumor. We had a reader ask us if we were
surprised to see LME inventory levels on the rise. No. In our opinion,
with nickel prices so high, stainless steel producers are buying more
conservatively. They know nickel's volatile track record and don't want
to get stuck with a bunch of over priced nickel should the market tank.
And for the big trading houses, who sometimes buy and move inventory
from one warehouse to another, giving the appearance inventory levels
are lower than they are... with prices so high, that's a risky
endeavor. Besides, nickel has a life of its own these days, so who
needs to goose the market with inventory numbers?
Average price of LME traded cash nickel so far
this month
- $6.99/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - London copper edges higher on softer dollar, eyes Fed minutes - more
Trump finally labels China a currency manipulator - more
Fed’s Daly Says She Doesn’t See a U.S. Recession on the Horizon - more
U.S. Futures, Europe Stocks Climb; Treasuries Slip: Markets Wrap - more
Positive Indian Ocean Dipole pattern continues
- more
Tuesday's market review - Copper slides
as
spotlight falls on sagging China demand - Copper prices fell on Tuesday
as the market focused on prospects for weaker demand in top consumer
China, where activity in the manufacturing sector has deteriorated due
to the prolonged U.S.-China trade dispute. - more
China Attacks China; A Tale Of Collateral Damage In The Trade War -
Trade war tariffs are designed to protect local industry from
international rivals, but in the case of a Chinese steel industry
leader, it is under a tariff attack from its own government. - more
Taiwanese stainless steel mills may increase prices for Sep as nickel
stands firmly - The London Metal Exchange (LME) nickel price reached
US$16,000/ton above on August 14th. After that, the three-month nickel
price dropped to US$15,810/ton on August 20th. - more
January to June 2019 Metals Balances - The nickel market was in deficit
during January to June 2019 with apparent demand exceeding production
by 55.5 kt. In the whole of 2018 the calculated deficit was 95.7 kt.. -
more
Chinese steelmaker plans to put up $2-billion plant in Vietnam - Mintal
Group wants to build a $2-billion plant in the central province of
Thanh Hoa producing carbon ferrochrome, stainless steel and non-ferrous
metals. - more
Courtesy AISI - In the week ending on August 17, 2019, domestic raw
steel production was 1,857,000 net tons while the capability
utilization rate was 79.8 percent. Production was 1,861,000 net tons in
the week ending August 17, 2018 while the capability utilization then
was 79.4 percent. The current week production represents a 0.2 percent
decrease from the same period in the previous year. Production for the
week ending August 17, 2019 is down 0.5 percent from the previous week
ending August 10, 2019 when production was 1,867,000 net tons and the
rate of capability utilization was 80.2 percent. - source
Palmer's Qld Nickel defence ready to go - Clive Palmer's legal team at
the Queensland Nickel collapse trial is set to begin the billionaire
businessman's defence. - more
Minnesota Supreme Court denies challenge of PolyMet environmental
review - The Minnesota Supreme court has declined to hear a petition
for review from environmental groups regarding the PolyMet
copper-nickel mining project. - more
Twin Metals says it will use union labor to build mine - more
Morning Nickel Price Statistics & Figures
Today's almost official prices here / Yesterday's
actual LME official prices here or here
Shanghai Jinchuan nickel price - available here
or here(updated)
Please let us know if any of these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Tuesday, August 20
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Monday's trading session at $7.22/lb
($15,920/tonne). Indicators at 6:15 am CST today show
nickel trading around $.03/lb
lower. Stockpiles of nickel stored in LME licensed warehouses went
unchanged yesterday and remain just above the 149,600 tone level.
Nickel trading remains in neutral, having surrendered the $16,000/tonne
level yesterday. Quiet on the news front today, and with sumer coming
to an end, last minute vacations are being taken. Just a heads up - LME
markets will be closed this coming Monday for Summer Bank Holiday. Not
a lot to talk about today, so we won't try.
Average price of LME traded cash nickel so far
this month
- $6.98/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Shanghai aluminum hits over 9-month high on supply worries - more
Stocks Edge Up as Trade, Economic Momentum Mulled: Markets Wrap - more
Monday's market review - Aluminum hits
two-week
high after China unveils rate reforms - Aluminum touched its highest
in more than two weeks on Monday and copper also rose after China
unveiled interest rate reforms that could boost the economy of the top
metals consumer. - more
BHP says U.S.-China trade spat not yet hurting demand for its
commodities - Top global miner BHP Group said on Tuesday the U.S.-China
trade war is not yet affecting demand for its commodities. - more
Mission to rare metal asteroid could spark space mining boom - Scientists
think it is mostly made of nickel and iron, but could also be abundant
in more valuable metals such as platinum and gold. - more
Anti-mining meeting in Ely raises stir - An unannounced meeting in Ely,
where anti-mining advocates showed up en masse to share their concerns
with representatives of U.S. Sen. Amy Klobuchar, appears to have raised
more questions than it answered. - 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
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Monday, August 19
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Friday's trading session at $7.31/lb
($16,125/tonne). Indicators at 6:20 am CST today show
nickel trading around $.04/lb
lower. Stockpiles of nickel stored in LME licensed warehouses added
over 4500 tonnes on Friday and start this week just over the 149,60
tonne level. Cancelled warrants have fallen into the 25% range. LME
warehouses have seen warehouse numbers grow on six of the last eight
sessions and a total loss of 18 tonnes recorded. The price of nickel
has slipped the last few sessions, but so far, the $16,000 level is
holding. This has given the market a positive technical signal, but
traders appear to be exhausted and weary if they have over stretched.
The Philippines biggest nickel mine announced it was closing, having
reached its end of life. Had this happened a few month ago, it would
have sent a shock wave thru the industry. Today, we are seeing no
reaction. Nickel's trend line since mid Thursday has been down, but for
the last week, it remains positive. Nothing from Indonesia over the
weekend, except the announcement of a Chinese and Singapore teaming up
to build another smelter in that country. So where will nickel end
this week? Stay with us and we will find out together. Until then, we
hope you have a successful week.
Average price of LME traded cash nickel so far
this month
- $6.96/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Copper ticks up on China stimulus hopes - more
Friday's market review - Uncertainty on
global
growth, trade war weighs on market - Industrial metals prices were
mixed on Friday, weighed down by uncertainty over how much weak global
economic growth is undermining demand, but some metals saw support from
potential shortages. - more
US government to investigate if Chinese steel is evading tariffs - The
U.S. Commerce Department announced on Wednesday that it would
investigate whether steel products made in China and Taiwan and
finished in other countries are evading U.S. tariffs. - more
The Commodities Feed: Nickel spreads tighten - Nickel’s forward curve
has seen a dramatic change over the last couple of days. - more
EV’s Will Make Nickel A Once-In-A-Generation Investment Opportunity,
Says BHP - The display of oomph at last week’s Diggers & Dealers
conference in Kalgoorlie was not restricted to the gold stocks. - more
Philippines' top high-grade nickel ore miner set to shut down:
government official - The Philippines’ top exporter of high-grade
nickel ore is expected to shut its mining operations soon as ore
deposits at a project in the nation’s southernmost province of
Tawi-Tawi are nearly depleted, a ministry official told Reuters. - more
South Africa's Cr Ore Export in June 2019 Is 1.1018 Million Tons - According
to the foreign trade statistics of South Africa, the export volume of
chrome ore (material quantity) in June 2019 was 1,101,772 tons, down by
5.8% from 1,169,548 tons in the prior month. - more
China's Import of High-carbon Ferro-chrome in June 305,000 Tons -
According to the foreign trade statistics of China, the import volume
of high-carbon ferro-chrome (material quantity) in June 2019 was
304,897 tons, up by 0.7% from 302,800 tons in the prior month. - more
Esperance Port receives nickel export approvals - After more than five
years of preparations, the Department of Water and Environmental
Regulation has issued formal approval for Southern Ports Authority to
export nickel from Esperance. - more
Palmer tries to halt Queensland Nickel collapse trial - Clive Palmer's
defence team wants the Queensland Nickel collapse trial thrown out amid
a dispute over the remaining claims against the billionaire
businessman. - more
Gina Lopez, Who Led Crackdown on Mines in the Philippines, Dies at 65 -
Gina Lopez, a former environmental activist who introduced a broad
crackdown on Philippine mining companies after she was appointed the
country’s environmental secretary in 2016, died Monday at age 65. - more
Stainless Steel Pdf
Library Week Three
Basic facts about stainless steel -
International Stainless Steel Forum - pdf here
Please let us know if any of these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Friday, August 16
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Thursday's trading session at $7.37/lb ($16,250/tonne). Indicators at 7:10 am CST today show
nickel trading around $.07/lb
lower. Stockpiles of nickel stored in LME authorized warehouses rose
again on Thursday and started today's session just over the 145,100
tonne level. Nickel closed over the $16,000/tonne level last night, and
while lower this morning, is still holding this level. Part of this
drop 'might' have something to do with the overnight drop in the Euro,
but during this bullish run, the movement of the Euro has meant very
little. If the Euro is having an effect today, then traders may be
looking at $16,000 as the level to work with until the Indonesia
confirms or denies the rumor that that he intends to accelerate the
2022 nickel ore export ban. Lot of mights and maybes in all that, but
it sounds much more professional than 'who the f--- knows!'. Market
really didn't move all that much yesterday but we are experimenting
with an abbreviated Friday update. Enjoy your weekend.
Average price of LME traded cash nickel so far this month
- $6.93/lb
Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /
Reports
Reuters metals morning - Shanghai nickel jumps, LME 3-month spread at decade high - more
Thursday's market review - Copper drops as China
prepares to fight back against U.S. tariffs - Copper slipped on
Thursday after China said it would hit back against additional U.S.
tariffs, fueling fears over global growth and metals demand. - more
LME open-outcry trading holds off electronic challenge: Andy Home - The
London Metal Exchange (LME) is now the only open-outcry market in
Europe and one of the last in the world. - more
Nickel May Be Limiting Material - The worldwide production of nickel
will need to increase if it is to keep up with the demand for the metal
created by new EVs. - more
Shanghai-bonded nickel stocks hold stable at 21,800 mt - Inventories of
refined nickel in the Shanghai bonded areas held stable this week, as
wider import losses and the end of concentrated arrivals deterred flows
into or out of bonded warehouses. - more
Thursday, August 15
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Wednesday's trading session at $7.23/lb
($15,950/tonne). Indicators at 6:20 am CST today show
nickel trading around $.06/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose
again on Wednesday and started today just under the 144,800 tonne
level. After falling to below $15,550/tonne in pre-market trading,
nickel has been trading at or over the $16,000 tonne level for the last
three hours. Cancelled warrants fell below the 27% level on Tuesday and
fell even lower on Wednesday. This isn't exactly surprising considering
the volatility in the market. For those who order nickel who will
actually use it, the price has risen so fast that they are likely
buying as needed and letting their stockpile reserves fall. For those
who buy nickel and move it from one warehouse to another in an attempt
to make stockpile numbers appear lower than they are, purchases at his
point are incredibly risky - whether they be short or long. As news has
leaked from Indonesia, finally confirming the government is looking at
nickel ore exports again, no one really knows what the future holds for
nickel trading. Once again, the Indonesia president plays the nickel
market like a puppet moves his doll. This is our final update for the
week, but like last, if we see some movement in the market, we will
post an abridged update tomorrow. If so, it will be posted at least an
hour later than our Mon - Thurs update. In the mean time, we hope you
have a relaxing and safe weekend and hope to see you next week.
Average price of LME traded cash nickel so far
this month
- $6.89/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Copper hovers near 2-yr low amid recession fears - more
China steel futures extend rally on stimulus hopes; iron ore falters - more
Stocks Drop as China Vows Tariff Countermeasures: Markets Wrap - more
Wednesday's market review - Copper
falls as Chinese
factory growth tumbles to 17-year low - Copper prices fell on Wednesday
after industrial output growth in China, the largest metals consumer,
fell to a more than 17-year low, weakening the outlook for demand. - more
Shanghai spot nickel trades remain poor on expectations for lower
prices - Spot nickel trades in Shanghai remained poor this week, as
traders and downstream consumers held off on making purchases in
anticipation of a pull-back in prices, which had soared in recent
weeks. - more
Indonesia posts trade deficit in July on weaker commodity prices -
Indonesia has recorded a trade deficit of US$63 million in July on the
back of weak commodity prices that has affected its export value,
according to Statistic Indonesia (BPS) data released on Thursday. - more
Nickel Mines expands Ranger stake in Indonesia - Nickel Mines has upped
its stake in the Ranger nickel project in Indonesia to 60 per cent. - more
Nickel corrodes in a totally unexpected way - Nickel is one of the most
abundant elements on earth. It is hard, yet malleable, magnetic at room
temperature, and a relatively good conductor of electricity and heat. -
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 news and information free of charge.Contact us
Wednesday, August 14
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Tuesday's trading session at $7.22/lb
($15,925/tonne). Indicators at 6:15 am CST today show
nickel trading around $.03/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose
Tuesday and started today's session reading just over the 144,400 tonne
level. As of this moment,
cash nickel is trading up over 48-1/2% year to date. The last time
Indonesia president Widodo banned exports of nickel, he was trying to
force nickel miners to put smelters in his country. Instead of shipping
his nations rocks to other countries be processed, they would instead
set up operations in his country, and employ his people. The plan
worked and smelters have been built and more are under construction.
But while these smelters are being constructed, his nickel miners
needed to generate revenue so he lifted the ban for 5 years. That was
two years ago. Buckling too pressure from a government leader comes
with a price. It gives them motivation to try it again. Indonesia has
been making some noise lately about how it wants to become the hub for
EV battery production in the Far East. For hat to happen, they will
have to convince some battery producers to build production in their
country. By driving prices higher on a threatened ban, has Widodo now
turned his threats toward potential battery producers? No matter where
current producers are located, they are being hurt by the higher price
of nickel. If this is the case and he is successful yet again, who is
next - EV car producers?
Whether this is the case, or there is some other reason Widodo might be
considering going back on his word, nickel producers are winning and
nickel users are losing. And while nickel trading is hesitating this
morning at the $16,000/level, we question whether this level will put
up much psychological resistance.
Average price of LME traded cash nickel so far
this month
- $6.85/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Copper declines on weak China data, Peru's export resumption - more
Just Released: Mind the Gap in Delinquency
Rates - more
China July Industrial Output Growth Weakens to 17-Year Low - more
Stocks Slide, Bonds Rally as Data Clouds Outlook: Markets Wrap - more
Tuesday's market review - Copper climbs
after U.S.
delays plans to impose new tariffs - Copper prices climbed on Tuesday
after the United States said its plans to impose 10% tariffs on some
Chinese products would be delayed, which helped ease worries about
growth and demand in top consumer China. - more
President will decide whether Indonesia brings forward ore export ban
-minister - Indonesia’s President Joko Widodo will make the final
decision on whether the country brings forward an export ban on mineral
ore, the minister in charge of mining said on Tuesday. - more
Indonesian president’s decision on nickel export ban expected soon, says government - more
As PolyMet battle rages, Walz begins to map out an Iron Range legacy -
When Gov. Tim Walz met last week with business leaders trying to build
Minnesota’s first copper-nickel mine, he was reminded of his initial
visit to the Iron Range during the 2018 primary campaign, when the
PolyMet project was still a simmering issue among members of the DFL
party. - more
Local companies eye electric vehicle materials opportunity - A group of
Australian companies are planning new industrial processing plants to
produce key materials used in lithium-ion batteries, boosting
Australia’s prospects of capturing more of the electric vehicle value
chain. - 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 news and information free of charge.Contact us
Tuesday, August 13
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed yesterday's trading session at $7.13/lb
($15,710/tonne). Indicators at 6:20 am CST today show
nickel trading around $.02/lb
higher. Stockpiles of nickel stored in LME licensed warehouses went
unchanged on Monday and started today's session just over the 144,100
tonne level. So far today, the volatility for nickel is lower, while
the price is slowly rising. The market remains bullish and Indonesia
continues to get the blame. Now Reuters s quoting an Indonesia media
outlet that says the idea of moving up the ban on exports is under
serious consideration. Our question would be that is this is true, what
could possibly be the motivation behind it. The first ban came about to
force nickel producers to build smelters in Indonesia. This has and
continues to work. So what is up? If they are trying to force
something, what could it possibly be? The want to become a hub for EV
battery production but not exactly sure how speeding up the export ban
would help that come to be. How about a conspiracy theory? Hopefully
this is not part of some political pay back. In the recent reelection
results, President Jokowi won the island of Sulawesi except for two
areas ... the South and Southeast. Those areas favored the opponent,
Prabowo, pretty heavily. I bet one could guess where much of this
island's nickel mines are located. Southeast Sulawesi favored Jokowi's
opponent by a margin of 62 - 38% according to the Jakarta Globe. What
we do know is the rumor behind the threat has the market a buzz and
facing a great unknown.
Average price of LME traded cash nickel so far
this month
- $6.81/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Shanghai aluminum jumps to 2-1/2-month high on supply worries - more
Stocks Decline on Turmoil in Hong Kong, Argentina: Markets Wrap - more
Yesterday's market review - Lead scales
two-week
high on outage at Nyrstar smelter - Lead prices touched a two-week high
on Monday after Belgium-listed Nyrstar said it had stopped production
at its Port Pirie smelter in Australia, raising fears of shortages of
the metal mainly used in car batteries. - more
Indonesia to speed up enforcement of mineral ore export ban: detik.com
- Indonesia aims to speed up enforcement of a ban on mineral ore
exports that is currently due to come into force in 2020, news website
Detik.com quoted coordinating minister for maritime affairs Luhut
Pandjaitan as saying on Monday. - more
LME to extend open outcry trading times starting September 23 - The
London Metal Exchange (LME) will extend its final open-outcry trading
sessions for all metals starting Sept. 23 after volumes jumped during a
trial, it said in a statement on Monday. - more
Carmakers, battery manufacturers are calling nickel companies direct as
supply shortfall looms - It’s great to be a nickel company, for the
first time in a very long time. - more
Courtesy AISI - In the week ending on August 10, 2019, domestic raw
steel production was 1,867,000 net tons while the capability
utilization rate was 80.2 percent. Production was 1,861,000 net tons in
the week ending August 10, 2018 while the capability utilization then
was 79.4 percent. The current week production represents a 0.3 percent
increase from the same period in the previous year. Production for the
week ending August 10, 2019 is down 1.6 percent from the previous week
ending August 3, 2019 when production was 1,897,000 net tons and the
rate of capability utilization was 81.5 percent. - more
Morning Nickel Price Statistics & Figures
Today's almost official prices here / Yesterday's
actual LME official prices here or here
Shanghai Jinchuan nickel price - available here
or here(updated)
Please let us know if any of these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Monday, August 12
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Friday's trading session at $7.05/lb ($15,550/tonne). Indicators
at 6:20 am CST today show
nickel trading around $.08/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Friday and started this week just over the 144,100 tonne
level, a little over 110 tones higher than last week started at.
Cancelled warrants fell to the 27% level last Thursday and have
remained there since. Nickel started out LME's morning session with
another bullish charge, followed by a bearish run, and just recently,
another spike. If you are into roller coasters, you are probably having
fun watching the trading chart. If you are trading shorts, you are
probably getting sea sick. It is interesting to see Reuters quote
analysts who admit the last bullish charge by nickel was based on a
rumor that proved it was nothing more than a rumor. So far, the rumor
from Indonesia is just that. We are pulling a few comments from reports
and articles last week that show the confusion amongst analysts on what
all this could mean to the price in the future. From Bloomberg - Nickel
will rally to US$17,000 or
US$18,000 a ton if a ban is brought forward to before mid-2020, they
said. And from Reuters - The important caveat, though, is
BMO’s conclusion that “the market has more than fully priced in a ban
already." And from Business Times - Technical price movements can
be explained by "irrationality," Nicky Shiels, an analyst at Bank of
Nova Scotia, said in an email on Thursday. The fundamentals meanwhile
have taken a back seat. Shanghai futures' volume surge amid steady LME
trading indicates "speculative interest is in panic mode," she said.
The first two comments are based on speculation 'if' the Indonesia
rumor proved to be something. What might happen when reality sets in is
what keeps stainless steel producers on edge. The week is beginning
with volatility calling the shots. We hope the rest of the week proves
to be a good one for you.
Average price of LME traded cash nickel so far
this month
- $6.77/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Nickel gives up gains in volatile trade; zinc rises on Nyrstar outage - more
Tesla Could Be Destroyed By The Closure Of
Glencore Mine? - more
The Commodities Feed: Steel profitability
struggling - more
SCMP - China’s rare earth producers say they are ready to
weaponise their supply stranglehold, pass any tariff as cost to US
customers
Russian customs data shows nickel exports for
first 6 months of 2019 were 71,400 tons, up from 68,500 tons in the
same period last year.
U.S. Stock Futures Decline as Hong Kong Sours Mood: Markets Wrap - more
Friday's market review - Nickel slips
from 16-month
peak on Indonesian uncertainty - Nickel slipped on Friday from a
16-month high amid uncertainty over whether top producer Indonesia
would soon ban ore exports, while other base metals drifted lower after
weak Chinese data. - more
Nickel shows
wild streak
with sudden US$2,000 spike - A worker at a nickel processing plant in
Sorowako, South Sulawesi Province, Indonesia. The metal surged as much
as 13%, triggered by speculation that top producer Indonesia might
bring forward a ban on nickel ore exports. - more
Indonesian supply fears stoke brutal LME nickel battle: Andy Home -
Nickel has this week experienced an extraordinary, turbo-charged
rally. - more
Nickel’s fate lies in Indonesia as top supplier weighs early ban -
Indonesia is weighing whether to bring forward a planned ban on exports
of mineral ores, the country’s trade minister said, a day after nickel
prices from London to China surged on speculation the Southeast Asian
nation will halt shipments. - more
Indonesia says no decision yet on early start
to mineral ore export ban - more
US still buys lots of stainless steel products from China despite
tariffs - According to statistics, although the US had levied import
tariffs on Chinese stainless steel products, the quantity didn't
decrease. - more
Shanghai exchange issues draft rules for stainless steel futures - The
Shanghai Futures Exchange on Friday issued draft rules for its upcoming
stainless steel futures contract - more
Please let us know if any of these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Friday, August 9
Due to extreme volatility of nickel trading, we are posting an abbreviated Friday update.
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Friday's trading session at $7.20/lb
($15,880/tonne). Indicators at 7:30 am CST today show
nickel trading around $.09/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose by
over 2000 tonnes on Wednesday and started todays session just under the
144,200 tonne level. We were wrong yesterday when we
reported the price of nickel hit its highest since January 2014. It
actually matched the highest it has reached since then, which was hit
back in April 2018, and matched it to the very penny
($16,687.50/tonne). Another penny and we will be in five year
territory. Not hard to guess where nickel's next line of major
technical resistance is, is it? Lot more coming out now about the
Indonesia rumor in the last 24 hours so we have posted below. Nickel is
doing a fair job today of holding onto much of this weeks gains. Enjoy
your weekend.
Average price of LME traded cash nickel so far
this month
-
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - London nickel eases from 16-month peak, but set for 9% weekly gain - more
Thursday's market review - Nickel
leaps to 16-month high on Indonesian supply fears - Nickel prices rose
more than 7% to a 16-month high on Thursday as fears rippled through
the market that major supplier Indonesia could bring forward a ban on
exports of nickel ore. - more
Nickel sizzle: Hot money piles into metal on Indonesia ore ban talk - more
China's move to peg yuan above 7/USD likely bad news for metals - more
Traders baffled by sudden spike in nickel prices - Nickel has long had
a reputation for being among the most volatile industrial metals, but
its biggest daily jump in a decade has left even seasoned traders
astonished. - more
Indonesian nickel miners urge govt to stick to 2022 ore export ban -
Indonesia’s nickel miners association urged the government on Thursday
not to bring forward a ban on raw mineral exports from 2022. - more
China’s output of nickel pig iron rises 49% YoY in Jul - Production of
refined nickel in China came in at 12,650 mt in July, up 0.56% from
June and 1.61% from July 2018, showed an SMM survey. - more
Ukraine Cuts Imports of Nickel Ore - Ukraine in January-July 2019
decreased imports of nickel ore and concentrate in natural terms by
15.5% compared to the same period in 2018, to 753,532 tonnes. - more
Imports increase by another US$20 million as raw products dominate
export list - Imports into Zimbabwe increased by a further US$20
million in May while raw products dominated the export list signifying
declining manufacturing levels in the economy, a report by the Reserve
Bank of Zimbabwe (RBZ) has revealed. - more
Thursday, August 8
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Wednesday's trading session at $6.72/lb
($14,810/tonne). Indicators
at 6:20 am CST today show
nickel trading around $.32.lb higher. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Wednesday and started today's session just
over the 142,000 tonne level. So what happened while you were asleep
last night? After LME markets closed in London
yesterday, nickel spiked by around $700/tonne in a little over two
hours. Unless there is some fundamental news out there that we aren't
aware of, and the Indonesia rumor will not die no matter what Indonesia
officials say, the move appears to be some technical buying and an
attempt to
drive the market over the $15,000/tonne level for good. The only thing
that appears to have slowed down the spike was it hit major resistance,
which is the highest level nickel has traded at since January 2015. But
the bulls were not done. Last night, LME nickel traded at $7.56/lb
($16,667/tonne) before they suddenly decided to back off and be
satisfied with gains of the the first bounce. The last time the market
traded at the level it hit last night was in April,
2018 (to the penny $16,687.50/tonne)
And last night was a return to LME leads, SMM follows. The initial LME
bounce happened before Shanghai markets were open, and in our pinion,
the second bounce was feeding on the positive reaction of Shanghai
markets. It was the bull feeding of the bull feeding off the bull.
Bambang Gatot Ariyono, director general of mineral and coal at
Indonesia's mining ministry, told Reuters on Thursday that "I can only
talk about the existing (rules). I don't want to talk about something
that is uncertain," when asked about the rumor that Indonesia might
accelerate nickel ore bans. On Monday Reuters reported that the same
man replied to the same question “I don’t want to speculate in that
regard.” So if you are asking yourself why the man simply won't reply
'no', think about his job. His job is to grow the mining industry and
right now, thanks in part to his off hand evasions, his nickel miners
are reaping a bonanza. His implicit denial could easily put the halt to
that. So evasion has its rewards. This is our final update for the
week, so we wish you all a relaxing and safe weekend and if things go
nuts tomorrow, we might post an abbreviated price update.
Average price of LME traded cash nickel so far
this month
- $6.66/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Nickel sizzle: Hot money piles into metal on Indonesia ore ban talk - more
California’s largest recycling business closes,
750 laid off - more
Powell Speaks, Trump Tweets, China Reacts, Markets Freak. Repeat - more
Stocks Rise With Yuan as China Fixing Calms Market: Markets Wrap - more
Wednesday's market review - Copper
edges off
two-year low as Washington soothes trade fears - Copper inched higher
on Wednesday after U.S. President Donald Trump dismissed fears of a
protracted trade war with China, though a lack of progress on resolving
the conflict kept prices near their lowest since 2017. - more
Base Metals: Mixed performance in 2019 – Rabobank - Rabobank analysts
point out that so far 2019 has been a mixed year for industrial metals
with a wide dispersion in market returns. - more
Update: Funds buying bolsters Shanghai nickel - Shanghai nickel hit
its upper daily limit in early morning trade on Thursday August 8,
bolstered by funds buying. - more
IMFA’s ferro chrome production increases 19% - Indian Metals
& Ferro Alloys Ltd (IMFA), India’s leading fully integrated
producer of ferro chrome, today announced Q1 FY20 results for the
period ending June 30th, 2019. - more
Industry divided over Odisha's decision to auction chrome mines -
Odisha government's decision to auction two chrome ore mines lapsing on
31 March 2020 but not Tata Steel’s Sukinda mine has the ferrochrome
industry worried. - more
DNR declines to reconsider dam permits for PolyMet - The Minnesota
Department of Natural Resources will not reconsider two permits issued
last year to PolyMet’s planned copper-nickel mine, despite formal
requests from environmental groups and tribal leaders. - 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 news and information free of charge.Contact us
Wednesday, August 7
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed yesterday's trading session at
$6.82/lb ($15,030/tonne). Indicators at 6:20 am CST today show
nickel trading around $.13/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today's session just over the 141,900 tonne level.
Nickel closed above the $15,000 tonne level yesterday, but once again,
this level is offering some strong resistance. It is finally leaking
out what the rumor floating around China was, that spiked the market on
Monday. Someone spread the rumor that Indonesia was not waiting until
2022 to clamp down on nickel ore exports, but was going to start
denying permits as early as next month. Of course, Indonesia officials
proved this was nothing more than a rumor on Monday, but the market has
yet to surrender the gains it saw based on this run. In Australia, the
annual Diggers and Dealers Conference has ended. If you look at the
bottom of this page (here)
you can see a list of the mining companies that made presentations.
Some of them post their presentations on their websites and if you are
looking for market intelligence, somewhat skewed to invite you to
invest in their company, they are sometimes worth visiting. From a
technical point of view, an inability of nickel to hold above $15M
today, sends a mildly negative signal to the market. Whether traders
care what signals are out there or not, remains to be seen.
Average price of LME traded cash nickel so far
this month
- $6.66/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - London copper hovers at two-year low amid trade jitters - more
Trump still wants trade deal with China
-adviser - more
Stainless steel over plastic: An imminent
revolution - more
Stocks Rebound; Bonds Gain on Dovish Central Banks: Markets Wrap - more
Yesterday's market review - Copper
pinned at
two-year low by trade conflict - Copper prices hovered around a
two-year low on Tuesday as further escalation in the U.S.-China trade
conflict delayed resolution to a dispute that has depressed economic
growth and increased fears over metals demand. - more
LME to extend open-outcry trade to boost volumes - sources - The
London Metal Exchange is poised to extend its closing open-outcry
trading sessions for all metals after volumes jumped in a three-month
trial, denting expectations of an eventual move to full electronic
trading. - more
Court puts key PolyMet copper-nickel mine permit on hold - The
Minnesota Court of Appeals has placed a stay on a key water quality
permit for the controversial PolyMet copper-nickel mine proposed for
northeastern Minnesota. - more
Surprising discovery could change the way industry uses nickel - Nickel
is one of the most abundant elements on earth. It is hard, yet
malleable, magnetic at room temperature, and a relatively good
conductor of electricity and heat. - more
Clive Palmer held court in the Queensland Nickel trial. Then he
settled - The billionaire who once listed his hobby as litigation told
reporters he had a ‘moral responsibility’ to fight the $200m claim by
liquidators. - 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 news and information free of charge.Contact us
Tuesday, August 6
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Monday's trading session at $6.75/lb
($14,880/tonne). Indicators at 6:15 am CST today show
nickel trading around $.07/lb higher.
Stockpiles of nickel stored in LME licensed warehouses fell on Monday
and started today's session around the 142,200 tone level. Nickel held
onto most of their gains yesterday, and are trading over the
psychologically important $15,000 tonne level this morning. Indonesia
uncertainty is being blamed for the spike, although the rumor yesterday
proved to be no more than just that. In fact, the Indonesia minister
told reporters he had no comment on the regulations in place. The
trading chart shows $15,000 is putting up some resistance, but it only
recently crossed that threshold, so anything goes.EV sales estimates
for July have been
released and for the bulls, it contained some bad news. After very
respectable sales growth in June, based on a year to year comparison,
July saw the
first drop in monthly sales for 2019, when compared to July 2018. Last
July saw sales of nearly 29,600 units, while sales last month fell to
nearly 26,400 cars. It would be interesting to see how this compared to
overall auto sales in the US, to see if this was an EV problem, or an
overall blip in auto sales. Nickel is up 3.9% this week and it's only
Tuesday morning. Last night it was up over 39% YTD. Wanna guess where
stainless steel prices have and are going?
Average price of LME traded cash nickel so far
this month
- $6.60/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Base metals advance as trade worries weaken U.S. dollar - more
Vale option lifts Centaurus into 'much sought-after nickel sulphide space - more
Treasury Department declares China a currency
manipulator - more
How the U.S.-China trade war started, and
what’s coming next - more
U.S. Futures Rise With Europe Stocks as Yuan Gains: Markets Wrap - more
Indian Ocean temperature patterns continue as key Australian climate influence - more
Monday's market review - Copper hits
two-year low
as U.S.-China trade war escalates - Copper prices fell to their lowest
in more than two years on Monday, hit by the escalating trade dispute
between the United States and China, while nickel prices climbed on
concern over supplies from Indonesia. - more
Indonesian official keeps mum on possibly moving forward iron ore
export ban - A top Indonesian mining ministry official said on Monday
he did not want to speculate on whether the government might bring
forward a planned ban on iron ore exports from 2022. - more
Indonesian official refuses to be drawn on whether ore export ban might be brought forward - more
In win for PolyMet, court upholds Minnesota's nonferrous mining rules -
The state Court of Appeals said Monday that Minnesota’s rules governing
hard-rock mining are valid, delivering a blow to environmentalists who
challenged them as too vague to protect the state’s natural resources
for a new era of mining on the Iron Range. - more
Clive Palmer settles $200 million Queensland Nickel lawsuit - It took
liquidators three years to get Clive Palmer into court to face a $200
million Queensland Nickel lawsuit, but just three weeks to make him pay
up. - more
There's One Metal Worrying Tesla and EV Battery Suppliers - Battery
producers and electric automakers, including Tesla Inc., are concerned
over longer-term supplies of nickel, a key material in their supply
chain that’s forecast to fall into deficit, according to an Australian
miner that’s held recent talks with the sector. - more
Courtesy AISI - In the week ending on August 3, 2019, domestic raw
steel production was 1,897,000 net tons while the capability
utilization rate was 81.5 percent. Production was 1,848,000 net tons in
the week ending August 3, 2018 while the capability utilization then
was 78.8 percent. The current week production represents a 2.7 percent
increase from the same period in the previous year. Production for the
week ending August 3, 2019 is up 0.7 percent from the previous week
ending July 27, 2019 when production was 1,884,000 net tons and the
rate of capability utilization was 80.9 percent. - more
Morning Nickel Price Statistics & Figures
Today's almost official prices here / Yesterday's
actual LME official prices here or here
Shanghai Jinchuan nickel price - available here
or here(updated)
Please let us know if any of these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Monday, August 5
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Friday's trading session at $6.55/lb , traders barely reacting to the prior days tariff
news. Indicators at 6:20 am CST today show
nickel trading around $.21/lb .
Stockpiles of nickel stored in LME
licensed warehouses fell on Thursday and Friday and start the week
just under the 143,00 tonne level. After rising slightly on Thursday
and then losing much of that increase on Friday, nickel has skyrocketed
this morning and I am unable to find any reason for it. It appears
there was a rumor in China that Indonesia was going to release details
today on the possible nickel ore export ban to take effect in that
country in 2021. While the rumor turned out to be no more than that,
the Shanghai nickel price spiked by over 4%. London markets, which
nearly always lead the pack appear to be playing follow the leader this
morning, no wanting to be left behind. We may be wrong and we will
eventually find out, but we suspect this is merely another attempt by
the bulls to beat the psychologically important $15,000 tonne barrier.
They have yet to test it this morning, but have come very close already
today. After some uncertainty since July 18, nickel prices appear to
have bottomed out on the 29th of July and have spiked again today.
Where they will go remains to be seen, but we invite you to join us as
we find out together. Enjoy the first full work week of August. It
appears to have started with a bullish bang.
Average price of LME traded cash nickel so far
this month
- $6.53/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - Copper drops to 2-year low as U.S.-China trade war escalates - more
China Warming to Idea of Yuan as Trade War Weapon, Analysts Say - more
Stocks Tumble, Treasuries Surge as the Yuan Hits 7: Markets Wrap - more
Friday's market review - Copper clocks
biggest
weekly fall in a year on U.S.-China trade war - Copper prices on Friday
posted their steepest weekly fall in a year after President Donald
Trump said the United States would impose more tariffs on Chinese
imports, escalating a trade war seen weakening economic growth and
metals demand. - more
Thursday's market review - Aluminum hits
one-month
low on global demand worries - Aluminum prices hit their lowest in
about a month on Thursday on fears of weak consumption after the
world’s biggest steelmaker cut its global demand forecast and Chinese
data showed shrinking factory activity. - more
China's metal
imports falter, raw materials still
robust: Andy Home - China’s imports of refined base metals faded over
the course of the first half of 2019. - more
Stainless steel prices may rise further for Sep if nickel price remains
same pattern - The major upstream stainless steel mills in Taiwan
sharply raised their stainless steel prices for August this week, and
the increase hit a 2-year high. - more
Price of HC FeCr in China Hits Bottom and Rebounds = Stainless steel
mill raises purchase price due to decreased supply = The price of
high-carbon ferro-chrome in the Chinese domestic market has continued
to go down slightly during May to June, and after it hit the bottom in
the middle of July, it began to rebound in late July. - more
Indonesia's Antam H1 nickel ore output up 27% y/y - Indonesia’s state
mining company PT Aneka Tambang’s (Antam) nickel ore output in
January-June period recorded at 4.79 million wet tonnes, up 27% from
the same period last year - more
The LME is Europe’s only surviving “open outcry” venue - HerR client's
huge order would cause prices to surge if the market got wind of it. - more
BHP to start nickel sulfate production for EVs in second-quarter of
2020 - BHP Group plans to start production of nickel sulfate in the
second quarter of next year, as it ramps up sales of its nickel
products to the battery industry, asset president Eddie Haegel said on
Friday. - more
Sudbury’s mining expertise, regreening success story attract Latin
American delegations - Battery-powered mining equipment and Sudbury’s
regreening efforts are attracting groups from Latin America to visit
the Nickel City in August. - more
Australia's Mincor signs nickel supply deal with BHP - Australia’s
Mincor Resources NL said on Monday it had signed a long term agreement
with mining giant BHP Group to supply nickel concentrate. - more
Clive Palmer agrees to repay millions over Queensland Nickel collapse -
Clive Palmer has settled another massive chunk of his $200 million
lawsuit over the collapse of Queensland Nickel, including repaying $66
million in taxpayer funds used to pay sacked workers. - more
Stainless Steel Pdf
Library Week 1
Corrosion Resistance of Stainless Steels -
presentation by IMOA - pdf here
Laboratory Corrosion Data - Resistance of
Stainless Steels to Chemical Media by Just Mfg - pdf
here
Corrosion Resistance of the Austenitic
Chromium-Nickel Stainless Steels in Chemical Environments - pdf here
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 news and information free of charge.Contact us
Thursday, August 1
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Wednesday's trading session at $6.57/lb
($14,480). Indicators at 6:15 am CST today show
nickel trading around $.07/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose
slightly on Wednesday and ended the month of July just under the
143,700 tonne level. The rate of decrease in nickel inventories for the
month of July was 957 tonnes per working day. That compares to the
fluke monthly gain in June of 129 tonnes per day. The Euro is getting
hammered today, and considering it has been on the slide since June
28th, nickel's bullish run looks even more impressive. A stronger Euro
supports base metals trading and thus th opposite adds pressure. That
would be hard to prove this last month, but there it is. Nickel appears
to be looking for direction but the bull is far from contained. August
is typically a slower month for stainless steel production with
European holidays, but we have seen the nickel market turn bullish
during August in year past, so remain vigilant. This is our final
update for the week, so we wish our readers a relaxing and safe weekend
and invite you back next week.
Average price of LME
traded cash nickel so far
this month
- $6.11/lb (average July)
Average price of LME
traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning
- Aluminum hits one-month low on global demand worries - more
Brazil's Vale dam
disasters trigger $2 billion in fresh writedowns - more
Chinese billionaire
indicted in U.S. for
alleged $1.8 bln aluminum tariff evasion - more
Dollar Extends Post-Fed
Gains; Treasuries Retreat: Markets Wrap - more
Wednesday's market review - Lead
bounces from
two-week low after inventories surge - Lead rebounded from a two-week
low on Wednesday after the metal mainly used for batteries came under
pressure from a pile-up of inventories and better supply
prospects. - more
China media reports production of stainless steel cold rolled sheet
totaled 5.13 million tons in the first half of 2019. It broke down as
follows - 300 series at 2.82 million tons, 400 series at 890,000 tons,
and 200 series at 1.42 million tons. The output of 304 stainless steel
wide-width cold-rolled coils totaled 2.5 million tons. Information per
the Stainless Steel Branch of China Special Steel Enterprise
Association.
Nickel Monthly News For The Month Of July 2019 - Nickel spot prices
were up sharply in July, and the LME inventory was lower and remains
near a 7 year low. - more
Indonesia's Antam H1 nickel ore output up 27% y/y - Indonesia’s
state mining company PT Aneka Tambang’s (Antam) nickel ore output in
January-June period recorded at 4.79 million wet tonnes, up 27% from
the same period last year - more
Zimbabwe: Bindura Nickel Records $13,5m Profit - Africa's
only integrated nickel mining and smelting company Bindura Nickel
Corporation realised a profit after tax of US$13,5 million for the year
ended March 31, 2019, compared to the US$5,8 million recorded in the
prior year. - more
Clive Palmer settles with biggest creditor in $200m Queensland Nickel
lawsuit - Billionaire Clive Palmer has reached a settlement with the
biggest creditor in a $200 million lawsuit over the collapse of his
ill-fated Queensland Nickel venture. - 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 news and information free of charge.Contact us
"A
Guide To LME
Trading"...pdf here(all
ton listings are metric tons = 2204.622 pounds ) Updated Monday thru
Thursday before 7 am CST - 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.
Abridged Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
(16,455/tonne). Indicators at 7:25 am CST today show
nickel trading around $.57/lb 
Reports 
Yesterday's market review - Nickel gains as waste
spill highlights supply worries - Nickel prices rose on Thursday after
a waste spill threatened to close a processing plant in Papua New
Guinea, adding to fears of supply shortages. - 
Nickel price forecast revised up as speculative rally boosts tight
market — report - Analysts at Fitch Solutions are revising up their
nickel price forecast for 2019 to $13,550/tonne from an average of
$13,250/tonne previously, as prices have experienced a strong
speculative rally over July and August. - 
US Steel Prices Rebound in August - US
flat product steelmakers are bucking the seasonal price trend, by
pressing for a rise in local values, despite the summer lull in
activity. - 
Indonesia to Lose European Commission Safeguard Exemption - The
European Commission recently completed its review of the safeguard
measures, which were introduced to prevent the redirection of material
previously destined for the United States. - 
Taiwan extends AD tariff on Chinese & South Korean CR stainless
steel for 5 years - According to the news from the Ministry of Finance,
R.O.C. (Taiwan), the Taiwanese government decided to levy an
anti-dumping tariff on 300 series cold-rolled stainless steel products
from China and South Korea for the next 5 years. - 
Commodity/Economic Comments 
Steel remains key to medium-term nickel price with electric vehicles on
horizon - The price of nickel has soared more than 50% since the start
of 2019, topping US$16,000 per tonne in early August before settling at
US$15,750/t on Aug. 21 against a backdrop of rising electric vehicle
demand and supply concerns. - 
Mining giant looks to wind and solar to power huge nickel project -
Australian mining giant Oz Minerals says it is looking at use wind and
solar to provide the bulk of the power needs for a giant new nickel
project in a remote part of central Australia near the border of South
Australia and West Australia, some 800kms west of Uluru. - 
Rai Coast MP
Calls for closure of PNG's Ramu Nickel Mine - Member
for Rai-Coast in Madang Province Peter Sapia is calling for the
immediate closure of the Ramu Nickel Mine's Basamuk refinery. - 
Voisey's Bay underground development hits 10% completion - The quest to
mine nickel from beneath the ground at Voisey's Bay in Labrador is
picking up steam with more than 430 workers on site. - 
Superconductivity in a nickel oxide material - Scientists
at the US Department of Energy's SLAC National Accelerator Laboratory
and Stanford University have made the first nickel oxide material that
shows clear signs of superconductivity - the ability to transmit
electrical current with no loss. - 
Gov’t wants mining firms to pay higher fees for mine wastes - The Mines
and Geosciences Bureau (MGB) is planning to require all mining
companies in the country to pay higher mine waste and tailing fees as
part of the amendments in the Implementing Rules and Regulations (IRR)
of the Philippine Mining Act or the Republic Act (RA) 7942 the agency
is now pushing for. - 
($15,660/tonne). Indicators at 6:00 am CST today show
nickel trading around $.09/lb 
China imported some 1.36 million mt of chromite (chrome ore) in July,
up 2.1% from June but down 0.99% from July 2018, according to the
latest data from China Customs. - 
Visa Steel shuts down plant in Odisha's Jajpur - Visa Steel shut down
its 1.5 million tonne integrated steel plant at Kalinga Nagar on
Friday. - 
Stainless Steel Pdf
Library Week Four
LME markets are closed Monday, August 26th for Bank Holiday.
($15,660/tonne). Indicators at 7:25 am CST today show
nickel trading around $.02/lb 
BCL liquidation gobbles over P1 billion while.... Phikwe BLEEDS,
TREMBLES - While people of Selebi-Phikwe are reeling from unexplainable
tremors that rock the town, leaving their houses with growing cracks –
Government has been pumping millions of Pula into a liquidation of BCL
mine that carries no promise of improving their lives. - 
January to June 2019 Metals Balances - The nickel market was in deficit
during January to June 2019 with apparent demand exceeding production
by 55.5 kt. In the whole of 2018 the calculated deficit was 95.7 kt.. -
Chinese steelmaker plans to put up $2-billion plant in Vietnam - Mintal
Group wants to build a $2-billion plant in the central province of
Thanh Hoa producing carbon ferrochrome, stainless steel and non-ferrous
metals. - 
Traders baffled by sudden spike in nickel prices - Nickel has long had
a reputation for being among the most volatile industrial metals, but
its biggest daily jump in a decade has left even seasoned traders
astonished. - 
Imports increase by another US$20 million as raw products dominate
export list - Imports into Zimbabwe increased by a further US$20
million in May while raw products dominated the export list signifying
declining manufacturing levels in the economy, a report by the Reserve
Bank of Zimbabwe (RBZ) has revealed. - 
