This page is archived news covering the period of December 2012
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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Nickel PricesStainless Steel News

Monday, December 31

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $7.97/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading mostly quietly higher. Stockpiles of nickel stored in LME approved warehouses rose on Friday and now total just over the 139,900 tonne level. Activity is quiet today, with a positive HSBC China manufacturing Purchasing Managers' Index rising to 51.5 from 50.5 last month, offset by a ride over the US fiscal cliff looking inevitable. While Asian and European markets are lower on these concerns, US traders, at least for the moment, appear to be betting the US congress isn't crazy enough to let the country take the ride and will at the very least, vote in some temporary stop gap measure. We are skeptical. The London Metal Exchange is operating under shortened hours today and will be closed for the New Year tomorrow. We hope to see you back here next year. Our best wishes to you and yours for the upcoming year, and may 2013 bring you each health and happiness.  
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs as Chinese Manufacturing Adds to Growth Signals - more
  • LME Morning - Base metals higher on Chinese data but fiscal cliff concerns weigh - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.00
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Unknown threat to New Caledonia from cyclone Freda - more
  • (China) Steel companies pin hopes on autos - more
  • (China) Steelmaker bets big on diversification - more

   Cuba closes oldest nickel processing plant - Cuba has closed the oldest of three nickel plants in the country, a local Communist Party leader said, a looming event that had become the talk of the mountain town of Nicaro, in eastern Holguin, where it is located. - more

   Mining expected to rebound in 2013 - The mining sector is expected to rebound in 2013 from a slump brought about by policy uncertainty in 2012. - more

   Stainless steel isn't stainless after all - When Donald Mele and his wife decided to replace their kitchen appliances last year, they chose Kenmore stainless-steel appliances from Sears because they thought they would last longer. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, December 28

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $7.97/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals mixed and quiet - much like yesterday. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and now total just over the 139,050 tonne level. Metals trading is quiet today and has been throughout the holiday season. Traders appear to be betting they will get some good news from China early next week, with the release of the Chinese PMI. We aren't as enthusiastic about what this report may reveal, in light of the rebound and collapse we have been monitoring in stainless steel prices in that country. The US appears to be heading over the fiscal cliff, which has US markets futures lower at the moment. And while such a ride if it is to be taken will rattle the markets, and further reflect the reason why the US public is losing faith in both political parties ability to lead, its negative effects will be more long term than immediate.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rebounds from 3-week low; U.S. fiscal talks in focus - more
  • Bloomberg morning - Copper Seen Rising as China Report May Add to Demand Optimism - more
  • LME Morning - Base metals sideways in quiet trading conditions, softer euro pares gains - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (SO) According to statistics released by Japan's Ministry of Finance, Japan's nickel ore imports totaled 437,100 metric tons in November this year, rising by 0.5 percent month on month and up 30.7 percent compared to November 2011.
  • (PR) ThyssenKrupp today completed the combination of its stainless steel business Inoxum with the Finnish company Outokumpu. With today's closing of the deal ThyssenKrupp will receive one billion euros in cash from Outokumpu for Inoxum. In addition Outokumpu will assume external debt of Inoxum in the amount of around 133 million euros. This will lead directly to a significant reduction in ThyssenKrupp's net financial debt. Outokumpu will also assume pension liabilities of around 338 million euros. ThyssenKrupp will additionally receive a loan note from Outokumpu with a current value of around 1.25 billion euros and a 29.9 percent stake in the new company.

   Nickel needs project failures - Nickel is on track to end 2012 as the worst performing base metal -- and 2013 doesn't look much better. In fact, the only hope for existing nickel producers is that some of the emerging operations strike technical problems in their commissioning processes -- of which there is a reasonable prospect. - more

   Vale Is Staring At A Q4 Loss On Impairments And Additional Tax Charges - Vale seems all but certain to report a loss in the fourth quarter of the ongoing financial year. The company has suffered two major setbacks in the last few days. - more

   'Star of Bethlehem' lights up steel mill one final time - The five-pointed star, made of stainless steel and dozens of heavy-duty light bulbs, looks deceptively simple. Its symbolism is anything but. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, December 27

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $7.96/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mixed and mostly quiet. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and now total just over the 138,700 tonne level. US fiscal cliff talks are set to resume today in Washington with the leader of the House reportedly telling his colleagues in the US Senate that its up to them. Until their is a decision one way or the other in these talks, markets will remain pessimistic. Base metals seem to be shadowing the Euro at the moment. It si interesting to note that our daily China SS index hit a new low for the year today, falling below pricing seen in  late October.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning -
  • Bloomberg morning - Copper in London Gains Most in a Month on China Demand - more
  • LME Morning - Base metals consolidate, aluminium cancelled warrants at record high - more

  Reports

  • SteelWorld Dec 2012 issue - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.11
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Iron Ore Rallying Most Since ’10 as China Rebounds: Commodities - more

   China's avg daily crude steel output dips in mid-Dec - CISA - China's average daily crude steel output over Dec. 11-20 fell 1.75 percent from the preceding ten days, industry data showed on Thursday, as mills trimmed output amid slower winter sales. - more

   Mechel To Halt Production At Southern Urals Nickel Plant = Based the management decision made in May; due to the depressed global nickel market = Mechel, one of the leading Russian companies of steel and resources, reported on December 19 that it decided to halt production at Southern Urals Nickel Plant OAO, and to prepare the plant's equipment for a long-term shutdown. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, December 26

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $7.96/lb . Indicators at 7:00 am CST today show 3 month nickel not trading as the London Metal Exchange is not trading today, closed for Boxer Day. Stockpiles of nickel store in LME approved warehouses fell last Friday and started the week just over the 138,700 tonne level. Markets were open o Monday but activity was muted. The London Metal Exchange was closed yesterday for Christmas and remains closed today for Boxer Day. US markets re-open and attention remains on  US fiscal cliff talks. President Obama returns to DC from vacation tomorrow to resume talks. After falling on Monday, Dow futures are higher this morning.  
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - no report
  • LME Morning - (Monday's copy, no report today)

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.18
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (Dow Jones - Vale) The latest impairment charges were related to the company's troubled Onca Puma nickel mine in Brazil, which was shuttered in June because of furnace troubles. Vale will rebuild one of the furnaces at a cost of $188 million, with production expected to start in the fourth quarter of 2013.
  • (MF) Japan exported 66,952 tons of stainless steel flat products in October, rising by 9.4% from a month ago and up by 1.6% year on year, according to statistics released by Japan's Ministry of Finance.
  • (Xinhua) China nonferrous metals prices fall 0.5pct on week in Dec. 17-23, MOC
  • China fulfills outdated production elimination target for 2011 - more
  • Local Auto Parts Development Pushed - more
  • A Century of Steel On Film - more
  • China consumers driving economic rebound: survey - more

   Charge Chrome Q1-2013 Benchmark For Europe Rises US$0.025/lb = To US$1.125/lb Cr, up 2.3% from Q4-2012 = Merafe Resources, South Africa, the partner with Xstrata in Xstrata-Merafe Chrome Venture, announced on December 19 that the benchmark price for the South African charge chrome shipped to Europe during the Q1 (January - March) of 2013 was settled at US$1.125/lb Cr, up US$0.025/lb Cr or 2.3% from the preceding quarter. - more

    Mild Recovery in Stainless Steel Prices Forecast For 2013 - MEPS - It's that time of the year when participants in the stainless steel supply chain try to predict how the market will perform in the coming twelve months. - more

   Strong fundamentals to push base metals up in 2013 - Base metals are likely to remain bullish in 2013 on better economic prospects in major consuming nations. - more

   China To Levy On FeMo/FeW/FeTi Imports From Next Year = MIIT announced new import taxes effective January 1, 2013 = Ministry of Finance of China announced on December 17 new tax rates applicable to the imports effective January 1, 2013. Import taxes will be newly levied on ferromolybdenum, ferrotungsten, ferrotitanium and silicotitanium, while no change has been announced with regard to the import taxes on ferrochrome (both high-carbon and low-carbon), ferronickel and ferroniobium. - more

   India is most competitive in stainless steel long products - Outokumpu is an international stainless steel company based in Finland. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, December 21

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $7.97/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and now total just under 139,100 tonnes. European markets are lower this morning, and US futures are way off, after a Republican political stunt fell short last night, and further hurt the chances for a successful outcome to fiscal cliff aversion talks. Metals are holding up fairly well considering the Euro is lower as well. The London Metal Exchange shows as being opened next Monday and then closed Tuesday for Christmas and Wednesday for Boxing Day. We expect little trading to actually take place Monday so our next update will be next Wednesday.  Merry Christmas and Happy Holidays to our readers!! 
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rebounds from 3-week low; U.S. fiscal talks in focus - more
  • Bloomberg metals morning - Copper Gains After Biggest Drop in Two Months on China - more
  • LME Morning - Book squaring, window dressing lift copper as year-end nears but others stay lower - more

  Reports

  • ThyssenKrupp Nirosta January Stainless Steel Surcharges - more
  • Oryx Monthly Stainless Report - pdf here
  • World Steel November Statistics - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.32
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Yuzhuralnickel under shutdown - more
  • Copper, oil targeted by wary investors for 2013 - more
  • US Fastener Exports & Imports Grow in October - more
  • US Fastener Distributor's Index: November Tougher Than October - more
  • CISA: Steel industry hit by overcapacity - more
  • Nickel discovery sends Rox soaring - more
  • Tropical Pacific neutral for remainder of summer - more
  • Fiscal cliff setback rattles global shares, euro - more

   ISSF - Quarter 3 stainless steel production surprisingly strong: new all-time-high - Preliminary figures released by the International Stainless Steel Forum (ISSF) show that worldwide stainless steel crude steel production has increased after the first nine months of 2012 by 2.9% compared to the same period of 2011. - more

    Stainless output up - Preliminary figures released by the International Stainless Steel Forum (ISSF) show that worldwide stainless steel crude steel production has increased after the first nine months of 2012 by 2.9% compared to the same period of 2011.  - more

   November Shipments Down from Last Year - The slowdown in shipments from 2011 levels that has characterized the second half of 2012, resumed in November after a brief pick-up in October. Inventory to sales ratios deteriorated slightly across the board. - more

   Tiberius Forecasts Gains in Commodities Indexes Next Year - Tiberius Asset Management AG forecast commodities will advance next year, with tin and palladium its top picks for metals and cocoa outperforming. - more

   Vale to write down nickel, aluminum assets by $4.2 bln - Brazil's Vale SA , the world's No. 2 mining company, has decided to take a $4.2 billion write-down on its nickel and aluminum assets, the company said, increasing its fourth-quarter write-downs to $4.65 billion. - more

  • Vale to Book $4.2 Billion Charge for Nickel and Aluminum Assets - Vale SA (VALE3), the world’s largest iron- ore producer, said it will book a $4.2 billion fourth-quarter charge after lowering the valuation of a nickel mine and its stake in aluminum producer Norsk Hydro ASA. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, December 20

  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 $8.05/lb. Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb lower, with all London traded base metals trading lower this morning. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 1378,375 tonne level. Nickel has seen little movement over the last week, and month for that matters. It remains stalled at the $8/lb range. Fiscal cliff talks remain the focus of traders attention, and sabre rattling on the part of some keep the outcome in question.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg morning - Copper Declines to Three-Week Low on U.S. Budget Impasse - more
  • LME Morning - Base metals struggle, US uncertainty weighs - more

  Reports

  • SSINA Releases Market Data for September 2012 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.35
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (Dow Jones) The global nickel market was in a surplus of 81,000 metric tons in January to October, the World Bureau of Metal Statistics said Wednesday. This compares to a 3,100 ton deficit over the whole of 2011. Mine production during January to October was 1.626 million tons, 156,000 tons above the comparable 2011 total.
  • (ENP) Vladimir Potanin has been elected General Director of MMC Norilsk Nickel

   Local 598 starts talks with Xstrata - Mine Mill Local 598/CAW began negotiating a new contract with Xstrata Nickel on behalf of its 900 members who work for the company Dec. 14. - more

   Japan opens WTO dispute against China over stainless steel tax - On Thursday, Japan filed a request with the World Trade Organization (WTO) to compel China to be open to bilateral negotiations about the country’s imposed anti-dumping tax on Japanese high-quality seamless steel pipes. - more

   Miner to invest $100m in nickel plant - Nickel and gold miner MRL Gold Philippines Inc. will invest $100 million in a nickel processing plant in Agata, Surigao del Norte in 2014. - more

   China's Nickel Production Up - November 2012 = 23,017 tons, up 2.8% from October, down 14.5% from November 2011 = According to National Bureau of Statistics of China, production of nickel in China during November 2012 was 23,016.5 tons (of nickel content), up 2.8% from 22,389.0 tons in the preceding month, down 14.5% from 26,924.6 tons recorded in November 2011.  - more

   Spain's Acerinox sees loss, delays dividend - Spanish stainless steel maker Acerinox predicted a full-year loss and said it was cutting costs and delaying dividends as its battles a faltering global economy. - more

   Russia's Klondike? Not yet - It looks like any one of remote eastern Siberia's low-lying, peat-coloured hills: only the thin trenches that scar Sukhoi Log hint at the work of generations of geologists to measure the riches beneath. - more

   Courtesy AISI - In the week ending December 15, 2012, domestic raw steel production was 1,827,000 net tons while the capability utilization rate was 73.9 percent. Production was 1,863,000 tons in the week ending December 15, 2011, while the capability utilization then was 75.2 percent. The current week production represents a 1.9 percent decrease from the same period in the previous year. Production for the week ending December 15, 2012 is up 1.4 percent from the previous week ending December 8, 2012 when production was 1,802,000 tons and the rate of capability utilization was 72.9 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, December 14

   We will be traveling Monday the 17th thru Wednesday, the 19th, and will not have the ability to update this site. Our next update will be Thursday, December 20th.

  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 $8.03/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb higher, with most other London traded base metals trading higher as well. Stockpiles of nickel fell slightly on Thursday and now total just under 130,200 tonnes. Commodity markets are trading mostly higher this morning on news that HSBC’s China manufacturing Purchasing Managers’ Index for December rose to 50.9. We have seen a reading that high in over a year. European equity markets are mixed on a poor German PMI reading. Barclays cuts its 2013 nickel forecast price from just a week ago of $8.39/lb to $8.05/lb. This month, nickel continues to hug the $8/lb range with nothing expected to change that dramatically in the near term.  
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steady, China data offsets euro zone gloom - more
  • Bloomberg morning - Copper Set for Fifth Weekly Gain After China Data Boost Outlook - more
  • LME Morning - Base metals edge higher on improved sentiment, Vlissingen becomes largest holder of aluminium - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.44
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (Interfax) The nickel market is improving as China’s economy gathers momentum and analysts predict prices will rise as high as $20,000 per ton in the mid-term. But a slower pace of recovery in the downstream stainless steel industry is expected to limit gains.
  • (CBN) China's nickel output rises 5.2% in Jan-Nov
  • Bonus Cuts as Jobs Decline for Oil-to-Metal Traders: Commodities - more
  • Commodities Rise Amid Signs of Chinese Economic Recovery - more
  • (China) Growth forecast to exceed 7% in 2013 - more

   Barclays Lowers 2013 Price Forecast for Copper, Nickel - Barclays PLC (BCS) Friday trimmed its 2013 price forecast for both copper and nickel, citing weakening underlying supply-and-demand dynamics in both markets. - more

   Andhra’s power shortage takes toll on steelmakers - About 15 ferro alloy and secondary steelmakers are thinking of stopping production or cutting down operations due to increased power bills in the back of fuel surcharge adjustment charges by the power utility in Andhra Pradesh. - more

   Minnesota landowners fear mining invasion - Mike Picek has always intended to pass along his hunting land and log cabin in the woods of northern Minnesota to his children and grandchildren - a plan now in jeopardy due to mining interests. - more

   Norilsk Nickel To Pay $100 Million To Outgoing CEO -Report - Russian mining giant OAO Norilsk Nickel will pay $100 million to its outgoing Chief Executive Vladimir Strzhalkovsky, Vedomosti reports Friday, citing two sources close to shareholders. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, December 13

  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 $8.07/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.10/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses slipped slightly on Wednesday and now total just under the 137,600 tonne level. European markets are lower as traders prepare for a  two day European summit, and eyes follow the so called fiscal cliff talks in the US. US market futures are quiet as traders prepare for the release of numerous reports. Yesterday's actions by the Fed were pretty much expected, and the Dow ended the day down 3 points after an initial knee jerk reaction higher, expired quickly. Nickel is lower today but remains in the $8/lb range as it has been all month.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls after Fed announcement; fiscal worries drag - more
  • LME Morning - Base metals drift lower, EU summit in focus - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.46
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Andhra’s power shortage takes toll on steelmakers - more
  • China's economy to pick up in 2013: report - more

   Yusco sees global stainless steel market to recover next year - Mr. I-Shou Lin, the president of Yieh United Steel Corp. (Yusco), the largest stainless steel manufacturer in Taiwan said that the global stainless steel market might recover gradually next year after staying weak for a long. - more

   ThyssenKrupp Stainless Opens Melt Shop in Alabama - ThyssenKrupp Stainless USA launched the final production line at its Calvert, Ala., facility. The melt shop is the last in a series of stainless steel manufacturing processes the company has brought online over the past three years to serve its customers in the North American market. - more

   Zimbabwe: BNC Needs U.S$20 Million Fresh Capital - Bindura Nickel Corporation says it will require fresh capital injection of US$20 million in its second year after resuming operations. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, December 12

  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 $8.02/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher, with all London traded base metals currently trading higher, albeit quietly. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just over 137,600 tonnes. European markets are trading higher, with US futures also higher, on hopes that the US Fed will announce further measures to stimulate the US economy later today. Nickel is hovering around the $8/lb level, where it has spent the first third of December.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Base metals steady, high expectations for FOMC meeting - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.45
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (Dow Jones) U.S. nickel exports rose 31.1% in October from the previous month, and was up 12.5% from the previous year, the Commerce Department reported Tuesday.
  • (Dow Jones) U.S. nickel imports fell 15.8% in October from last month, and was down 26.6% from the previous year, the Commerce Department reported Tuesday.
  • (China) 'No room for over-optimism' - more
  • Report: China to have biggest economy by 2030 - more
  • LME Margin Rate Changes - more
  • China's crude steel output up 13.7% in Nov - more

   Posco not interested in Italian ThyssenKrupp plant - Steelmaker POSCO has denied it is interested in buying the ThyssenKrupp stainless steel plant in Terni, Italy, rejecting market speculation that the South Korean producer could buy the plant to increase its presence in Europe. - more

   China’s mining occupation of the Philippines - While China’s brazen occupation of the Philippines’ Scarborough Shoal, located just 125 nautical miles from Masinloc, Zambales, has captured all the national and international attention, little has been mentioned about China’s occupation of the Philippine mining industry, an entirely different issue from the Filipino Chinese (“Chinoys”) domination of the Philippine economy. - more

   Landowner reminds Government on Ramu mine - Basamuk Refinery landowner Lima Mulung has reminded the PNG Government that it must honour its commitments to landowners if it wants landholders to work with Government and investors. - more

   First Quantum approves $840m Zambia expansion projects - The board of Toronto-listed First Quantum has approved $840-million worth of expansion projects in Zambia, where it owns the Kansanshi copper/gold mine and Trident project. - more

   Oligarchs, not investors, to get Abramovich Norilsk windfall - Roman Abramovich, the Kremlin's enforcer on a peace deal at Norilsk Nickel, will pay cash straight to the Arctic giant's two main oligarch owners for a stake in the company, depriving other investors of the windfall from an end to a billionaires' feud. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, December 11

  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 $8.06/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses fell again on Monday and now total just over the 137,450 tonne level. News is quiet today, as markets reverse yesterday's news. European equities are rebounding as German investor confidence rises, US futures are higher on stimulation hopes, while commodities retreat from yesterday's big jump on demand concerns. The Federal Reserve Open Market Committee begins a two day meeting today and some are betting on more economic stimulation.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper dips from two-month high; China, dollar support - more
  • LME Morning - Base metals edge back from highs on profit-taking, consolidate ahead of key US talks - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.46
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (MB) Metal Bulletin Research’s current forecast for nickel in 2013 is for cash prices to average $19,750 per tonne. By comparison, Metal Bulletin’s Apex analysis of analysts price predictions suggested an average closer to $19,000 per tonne for next year, and about $20,500 per tonne in 2014.
  • (SSY) According to latest preliminary customs statistics, Chinese iron ore imports of 65.8 Mt in November were up 9.4 Mt on October, representing the highest monthly level over the past 22 months and just 3.2 Mt below the all-time high in January 2011.
  • Norilsk Slumps Most in Month on Dividend Concerns: Moscow Mover - more
  • December Report: Small-Business Owner Confidence Plunges More than Five Points - more

   Prices Of Austenitic CR Stainless Sheets In Asia To Move On To $2,750 CFR - Prices of austenitic cold-rolled (CR) stainless steel sheets begin to be accepted at $2,700 CFR in the Asian region, and are about to move on to $2,750 CFR. - more

   ThyssenKrupp CEO pledges new era at troubled steelmaker - ThyssenKrupp Chief Executive Heinrich Hiesinger vowed to fix problems at Germany's biggest steelmaker after a disastrous overseas foray and corruption allegations led him to axe half his management board. - more

   Abramovich to Pay $1.49 Billion for Norilsk Stake - A deal to end a four-year shareholder dispute at the world's largest nickel and palladium producer, Norilsk Nickel, was completed on Tuesday when Russian tycoon Roman Abramovich agreed to buy a $1.49 billion stake in the firm, cementing a truce between the company's squabbling billionaire partners. - more

  • Norilsk Nickel: From Gulag to Boardroom Battle - The Economist Intelligence Unit, or EIU, has just issued a report on doing business in Russia. Titled "Nothing Ventured, Nothing Gained: Changing International Perceptions of Russian Business," it is based on a survey of 195 senior executives from outside Russia, with particular focus on those who have been or are considering signing joint ventures with Russian corporations. - more

   Finland : MINING giant is preparing to raise its production - To support its mining industry, Finland has precise geological databases, world-class infrastructure, progressive mining laws and readily available exploration services. - more

   Ramu Nickel project faces challenges - Despite the commissioning of the Ramu Nickel project there are still some challenges that will need to be addressed by authorities to ensure the operations continue. - more

   Nickel Institute Announces Retirement of Peter Cutler - After 20 years of service to the nickel industry, Dr Peter Cutler, the Nickel Institute’s Director of Promotion and Market Development is retiring on 31 December 2012. - more

   Courtesy AISI - In the week ending December 8, 2012, domestic raw steel production was 1,802,000 net tons while the capability utilization rate was 72.9 percent. Production was 1,863,000 tons in the week ending December 8, 2011, while the capability utilization then was 75.2 percent. The current week production represents a 3.3 percent decrease from the same period in the previous year. Production for the week ending December 8, 2012 is down 0.9 percent from the previous week ending December 1, 2012 when production was 1,818,000 tons and the rate of capability utilization was 73.6 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Monday, December 10

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $7.81/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.11/lb higher, with all London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over the 138,000 tonne level. European markets are trading lower after Italian Prime Minister Mario Monti announced plan to resign. Base metals are trading higher on data that shows factory output in China rose, although exports and imports figures came in lower than expected. US market futures are lower, apparently showing traders are wondering if the Monti resignation will put the European debt crisis back in the news. No agreement yet amongst Republicans and Democrats over the US fiscal cliff talks.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper near 2-month high on China data, risks remain - more
  • LME Morning - Base metals strong but ease back from highs, eurozone data weighs - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.53
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Chinese demand for iron ore up in 2013 - more
  • Speculators Cut Bullish Bets on Fiscal Cliff Talks: Commodities - more
  • China's Nov exports up 2.9%, imports unchanged - more

   LME Nickel Price Rise Continues Reaching US$8/lb = The highest since the first half of October this year, while some decelerating factors for the price looming up = LME nickel 3 months price hit US$17,660/ton (US$8.010/lb) accompanying its spot price hitting US$17,600/ton (US$7.983/lb), the highest since October 11 this year. - more

   Stainless steel imports maintain position - According to SpetsStal's estimate, the share of imports in the aggregate consumption of stainless steel in Russia from Jan till Sep 2012 amounted to 64.8%. It is worth reminding that in the equal period of 2011 it equated to 64.7%. - more

   Will the real Norilsk owner please stand up?: Andy Home - "Nothing ventured, nothing gained: Changing international perceptions of Russian business" is based on a survey of 195 senior executives from outside Russia, with particular focus on those who have been or are considering joint venturing with Russian corporate's. - more

   A tough year for the top ten miners - For listed mining companies everywhere, this year has been all about stock prices facing headwinds, along with relentless pressure on CEOs. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, December 7

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $7.79/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.05/lb lower, with al London traded base metals trading lower.  Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 138,550 tonne level. Metals were hit yesterday and continue to suffer today after the European Central Bank cut its euro-zone growth forecast for 2013 from slight growth to a contraction. Germany, the engine to the Eurozone, also cut its 2013 outlook to a crawl, 0.5% annual growth. This news hit the Euro, which in turn hit commodity traders. Today, traders are awaiting the employment numbers for November. Our Chinese Stainless Steel Index shows a solid week of rising prices in that country, the first time we have seen that in many moons. This is being caused by the higher cost of nickel and we are seeing little evidence of increased demand.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Steady in New York, London Before U.S. Employment Data - more
  • LME Morning - Base metals slip on poor eurozone sentiment, look to US data - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.48
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (Dow Jones) Russia's copper, nickel and aluminum exports increased considerably in the first 10 months of 2012......... Russia exported 183,500 tons of nickel, a rise of 34.6% on the year, worth $3.123 billion. ...practically all the nickel was exported to countries outside the Commonwealth of Independent States.
  • (MF) According to statistics, Japan exported 12,751 tons of crude stainless steel in October, jumping substantially from 6,565 tons in September.
  • Metals: When Headwinds Become Tailwinds - more

   Japan: SUS Product Exports Increase Continues - October 2012 = Up 2% from September; exports to Korea/Taiwan and China rose = Japan Iron and Steel Federation compiled the Trade Statistics released from the Ministry of Finance into the table as attached hereto with regard to Japan's exports of stainless steel products during October 2012. - more

   Boom skips mining - The stock market boom appears to have skipped a large number of mining issues although there are a few cases of unusually sharp increases. - more

   Oligarchs’ peace deal sends Norilsk shares up 10% - Norilsk Nickel shares hit a 4 month high after the billionaire owners Potanin and Deripaska reached agreement in their $1.4bn dispute. Experts assess the risk of Abramovich participation. - more

   Minn. defers action on mineral rights leases - Top state officials Thursday declined to approve the sale of leases to explore for minerals in northeastern Minnesota, pending the results of a court case. - more

   Palmer says WA registration move sensible - Suggestions Clive Palmer has transferred the registered address of his companies to Western Australia because of dissatisfaction with the Queensland government are overstated, the mining tycoon says. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, December 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $7.91/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mixed and quiet. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just over the 138,650 tonne level. Markets are quiet today, awaiting news on the US fiscal cliff negotiations and possibly a jobs report tomorrow to give it some direction.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Base metals stuck in narrow ranges, await direction - more

  Reports

  • Steel Founders' Society Of America December 2012 Casteel Reporter - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.40
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (GT) The purchase management index (PMI) for China's steel distribution sector dropped 5.1 percentage points month-on-month to 45.2 percent in November, which indicates that steel prices may decline further in the future, data from Beijing Lange Steel Information Research Center showed Wednesday.
  • Chinese steel price likely to fall: observer - more
  • Morgan Stanley Backs Gold, Corn, Beans as Best Picks in 2013 - more
  • The Top 10 Metals Stocks Loved By The Hedge Fund Industry - more
  • (China) GDP growth for next year 'to beat 2012' - more

    Mining giant plans to increase production - Finland has accurate geological databases, world-class infrastructure, progressive mining laws and readily available exploration services to support its mining industry. - more

   Top steel manufacturer stresses sustainability - Stainless steel is the fastest-growing metal market in the world. - more

   Ramu NiCo loads first shipment - The K1.7 billion Ramu nickel cobalt project in Usino-Bundi, Madang, will load its first ore for shipment to China today.- more

   Even more minerals reported at Twin Metals mine site - Already expected to be the largest underground mine in Minnesota history and one of the largest untapped copper-nickel deposits in the world, Twin Metals officials on Tuesday announced that the wealth of valuable minerals at their proposed mine near Ely is even bigger than previously stated. - more

   (Customs Statistics) Japan's Imports Of Rare-Metals In October 2012 - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, December 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $7.94/lb. Indicators at 6:55 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME warehouses fell only slightly on Tuesday and still total over the 138,350 tonne level. Asian markets traded higher last night on news the new Chinese leadership will continue strong support for economic growth in that country. European markets are and US markets appear to be playing follow the leader. Chinese operated Ramu Nickel Mine in Papau New Guinea has its official grand opening tomorrow. It's not reported whether the drought that threatens to shut down OK's Tedi Mine ni that country, will have any immediate effect on Ramu's operations. Typhoon Bopha has become a killer in the Philippines, with many victims expected.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - more
  • LME Morning - Base metals give up earlier gains, earlier optimism over Chinese investment pledge wanes - more

  Reports

  • Damstahl Stainless Steel Report December 2012 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.35
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Video: Catherine Virga Says Base Metals Prices May Rise In 2013 - more
  • (MF) Nippon Steel & Sumikin Stainless (NSSC), the largest stainless steel producer in Japan announced to leave its domestic prices for stainless cold rolled coils (CRC) and plates unchanged for December contracts.
  • (MF) According to statistics, Japan exported 103,336 tons of stainless steel in October, rising by 2.1% from a month ago.
  • Rick Mills' Secret To Making Money Off China's Stealth Metal Demand - more
  • PNG's Ok Tedi mine nears shutdown due to drought - more
  • China shares have best day in 3 mths, Hong Kong hits highest since Aug 2011 - more
  • (China) 'Economy stabilizing, but facing challenges' - more

   Ramu Nickel set for opening - A large contingent of dignitaries, including the Prime Minister Peter O’Neill are expected to converge at the Ramu Nickel project refinery site at Basamuk on Thursday for project commissioning. - more

   MVP says new mining tax system to deter investments - The government’s plan to revise the taxation system for mining companies will only serve to discourage investments, Manuel V. Pangilinan, chairman of Philex Mining Corp. said. - more

   PNG's nickel mine a 'step forward' for diversification - Growing diversity in Papua New Guinea's mining sector will bring more skills and expertise to the country, PNG's peak mining body says. - more

   (Customs Statistics) Japan's Imports Of Ferro Alloys In October 2012 - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, December 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $7.94/lb . Indicators at 6:55 am CST today show 3 month nickel trading around $.02/lb lower, with all other London traded base metals trading lower as well. Stockpiles of nickel jumped sharply on Monday and now total just over 138,350 tonne level. World markets were taken back yesterday with the surprisingly weak US PMI reading and "fiscal cliff" talks do not appear to be going well either. With that Asian markets ended lower over night, European markets are trading slightly higher at the moment, and US futures are slightly higher, after yesterday's down day. German chancellor Angela Merkel warned her party this morning "I could take it easy and say the euro is saved. But I am very cautious about saying the worst of the crisis is over." There are probably people in Russia saying something similar about today's announcement that the struggle for control of Norilsk Nickel is over.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper drops from 6-week high, U.S. woes weigh - more
  • LME Morning - Copper edges higher on stronger euro, rest of complex consolidates - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.25
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • During the first nine months of this year, China’s exports of rolled steel products reached 27.36 million tonnes. - more
  • Chinese steel sector PMI decreases to 49.2 percent in Nov - more
  • Tropical Pacific remains ENSO neutral - more

   North American Stainless will maintain the fuel surcharge at 35% for stainless flat and long products shipping in the month of December 2012. The surcharge rate is considered a maximum level for December and will be reviewed monthly. - source

   China Nickel Imports/Exports - October 2012 = Exports and imports of unwrought nickel both up from September = According to China's Customs Statistics, imports and exports of nickel-bearing materials including ores during October 2012 as well as during the first ten months of 2012 were as per the attached table hereto (all the figures in the table are the weight of the material) - more

   Abramovich to Buy Norilsk Stake as Billionaire Owners Seek Truce - Russian billionaire Roman Abramovich agreed to buy 7.3 percent of OAO GMK Norilsk Nickel as the two biggest owners of the world’s top supplier of the metal seek to end a four-year feud over control of the company. - more

  • Norilsk billionaires end feud with Abramovich as enforcer - Two Russian billionaires ended a four-year battle over the world's biggest nickel and palladium mine on Tuesday by giving the biggest voting stake in their $30 billion company to Kremlin-favoured tycoon Roman Abramovich. - more
  • Norilsk Nickel: Abramovich steps in to keep the peace – but for how long? - more

   Last week we linked to the online magazine article - here is the article now posted online

  • Journey into the earth at a Norilsk Nickel mine - A Russia Now correspondent visits a Norilsk Nickel mine beyond the Arctic Circle for a taste of life in the tunnels nearly a mile below ground. - more

   Courtesy AISI - In the week ending December 1, 2012, domestic raw steel production was 1,818,000 net tons while the capability utilization rate was 73.6 percent. Production was 1,816,000 tons in the week ending December 1, 2011, while the capability utilization then was 73.3 percent. The current week production represents a 0.1 percent increase from the same period in the previous year. Production for the week ending December 1, 2012 is up 3.1 percent from the previous week ending November 24, 2012 when production was 1,764,000 tons and the rate of capability utilization was 71.4 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Monday, December 3

  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 $8.01/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading mixed and quiet. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now totals just over 136,150 tonnes. Equity markets are trading higher this morning on a rise in the Eurozone and Chinese PMI manufacturing indexes. Nickel is taking a break after punching thru and closing above resistance. A close above $7.77/lb today, which is very likely, and we could get a technical signal that nickel will spend some time in the $8/lb range.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - more
  • LME Morning - Base metals pause for breath, look to US for direction - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.13
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Wind and solar power in turbulent times - more
  • China's crude steel output rises 6% in Oct  - more
  • Hedge Funds Increase Bullish Bets Most Since August: Commodities - more
  • Eurozone Manufacturing Picks Up Slightly - more
  • Euro hits six-week high vs. dollar on Greek debt moves - more
  • Factory surveys show China reviving, global rebound fragile - more
  • The paradox of China's stock market - more

    Lower Stainless Steel Prices Likely To Prompt Higher Demand - MEPS - Despite prices and inventory levels being low, stainless steel buyers have remained cautious in recent weeks. - more

   Norilsk Owners Said to Head Into $1 Billion Arbitration - Russian billionaire Vladimir Potanin and Oleg Deripaska’s United Co. Rusal are heading toward a more than $1 billion arbitration case as they battle over rights at OAO GMK Norilsk Nickel, according to four people with knowledge of talks. - more

   Japan Ferromolybdenum Supply/Demand - 9 Months 2012 = Imports cut to reduce end-2011 high-level inventory = Japan's production, consumption, imports and inventory of ferromolybdenum during the first nine months (January - September) of 2012 were as per the table attached hereto. Figures are the quantities of the material. - more

   Finland minister seeks mining 'openness'  - Finland's international development minister this week called for "openness and accountability" from the mining industry as protesters disrupted a conference. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

 November Archives


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

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11/25 Market Prices
not official prices

ferrochrome and chromium prices

Moly Oxide (>51%)
$11.00/lb
 
Source

Ferrochrome(60-65%)(HC)
$1.21lb
 

11/25 Scrap Price

Stainless Steel (LTL/ton)
$.73/lb
 ferrochrome prices and molybdenum prices

Smaller Quantities
$.60/lb
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