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Tuesday, December 31

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.38/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to its 15th all time record high this month and ends 2013 reported totals at 261,636 tonnes. Metals are lower as traders take profits and close their books on 2013. The London Metal Exchange is closed tomorrow for New Years celebrations and will resume trading on Thursday.
  • Average price of cash nickel so far this month - $6.31/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Lead Falls as Some Investors Sell After Industrial-Metals Rally - more
  • Reuters metals morning - Zinc set to be top metals performer in 2013, nickel lags - more

  Reports

  • Philippine Metallic Mining December 2013 - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.23
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (PR) Jilin Jien Nickel Industry announces that Jien Canada Mining LTD., a wholly-owned grandson unit, sells Gerido mine exploration right in Canada at USD 32.50 million. The mine is under exploration but has not been exploited.
  • (NFIB) The NFIB Index of Small Business Optimism went nowhere in August as the Index fell 01. points to 94.0, statistically no change. As “calm” as the Index appears, there was turmoil in the details. Job creation plans jumped 7 points to levels not seen since 2007. Yet, last month firms shed the largest number of employees in months. The overall stats are internally consistent on some dimensions as lower sales bring lower profits, but contradictory in other ways with lower job openings but huge gains in hiring plans.

    Forecasts for 2014 (quotes from past articles)

  • Prices should average $15,500 per tonne next year ($7.03/lb), with supply exceeding demand by 30,000 to 40,000 tonnes, compared with as much as 150,000 tonnes this year, Macquarie estimated. - source
  • A Reuters poll in October showed analysts forecast average cash copper on the LME at $7,050 a tonne for 2014 and nickel at $15,367.50 ($6.97/lb). - source
  • For the first quarter of calendar year 2014, we forecast an LME cash price of $1,850 a tonne for aluminium, $7,220 for copper, $2,180 for lead, $14,200 for nickel ($6.44/lb), $25,000 for tin and $2,032 for zinc.  - source
  • "I think there's the potential for a January-February rally in nickel prices," says Grant Sporre, a London-based commodities strategist at Deutsche Bank. He predicts nickel will average $16,875 a ton in 2014 ($7.65/lb), up 10% from his 2013 forecasts. - source
  • We see nickel trading within a range of $13,500-15,000 across the fourth quarter, averaging $14,300. Looking to 2014, production restraints should be countered by the ramp-up of new capacity outside China and greater availability of metal in LME-listed warehouses. Prices will remain suppressed next year, we feel, averaging $14,500 ($6.58/lb). - source
  • Bloomberg reported that yesterday, Citigroup Inc. raised its 2014 nickel price forecast from $16,375 to $17,000 per metric ton (MT) ($7.71/lb) due to its belief that “the Indonesian export ban is essentially being mispriced.” - source
  • The firm sees the metal averaging $14,750 per metric ton in the first quarter of the year ($6.69/lb), $15,000 in the second and third quarters and $15,250 in Q4. - source
  • Deutsche Bank is forecasting nickel prices to average $15,881/mt in 2013 and $16,875/mt in 2014 ($7.65/lb), before returning to average around $15,800/mt in 2015. - source

    Metal production drops in end-September amid weak world prices - Metal output for the first nine months of the year slipped five percent lower amid sluggish prices of precious and base metals in the world market, the government said. - more

    Overcapacity still a problem: MIIT - China's industrial enterprises still face the problem of overcapacity, the country's industry watchdog said Monday, noting that domestic demand will face downward pressure in 2014. - more

    Commodities Set for First Drop in 5 Years as Corn to Gold Tumble - Commodities headed for the first annual drop in five years as supply exceeded demand for corn to sugar to nickel and after investors lost faith in precious metals as a store of value amid signs economies are improving. - more

  • Natgas tops gains in 2013; gold faces biggest loss since 1981 - more

    Courtesy AISI - In the week ending December 28, 2013, domestic raw steel production was 1,773,000 net tons while the capability utilization rate was 74.0 percent. Production was 1,785,000 net tons in the week ending December 28, 2012, while the capability utilization then was 71.7 percent. The current week production represents a 0.7 percent decrease from the same period in the previous year. Production for the week ending December 28, 2013 is up 2.3 percent from the previous week ending December 21, 2013 when production was 1,733,000 net tons and the rate of capability utilization was 72.3 percent.

  Morning Nickel Price Statistics & Figures

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

Monday, December 30

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.45/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME licensed warehouses rose to 261,300 tonnes on Friday, a new all time record high. Cancelled warrants fell to nearly 37%, it's lowest level this month and an interesting move, considering the Wall Street Journal article from Friday that revealed the hidden stockpiles of nickel. Our primary concern with this situation is the fact that the same companies that are hiding these stockpiles, are some of the same companies that are primary trading partners on the LME - and the same companies that hire the 'analysts' that make forecasts for the small investors and industrial buyers. Where do their true interests lie? Like the rest of us, they are employed to make their employer money and we wonder if the most profitable return on investment motivates their actions. There is a lot more on this subject to come with the Rusal lawsuit effectively keeping the topic on the minds of investors.
  • Average price of cash nickel so far this month - $6.31/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Aluminium hits highest in nearly two months in thin trade - more
  • Reuters metals morning - Aluminum Reaches Eight-Week High as U.S. Rebound Spurs Buying  - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.23
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) Chinese nickel ore imports rose to a new monthly high of 7.8 Mt in November 2013. This is 0.5 Mt higher than in October and 0.3 Mt higher than November 2013, according to China Customs. The year-to-date total of 64.7 Mt is 7.2 Mt higher than for the equivalent period in 2012.
  • (LGMI) China's total crude steel output is likely to increase to 800 million tonnes in 2014 but growth will slow to 2 to 3% on the year, the head of its steel association said, with the government trying to tackle over capacity.
  • Do Steel Prices Have Staying Power? - more
  • (China) Economy to grow steadily in 2014 - more
  • Taiwan’s fastener exports might hit record high in 2013 - more

    As Shadow Storage Grows, Exchange Inventories Lose Their Usefulness - As more metal disappears into the shadows, an important indicator in commodity markets–inventories–is losing its usefulness as a price predictor. - more

  • WSJ Reveals Where All the Stolen Money From the System Is Sitting - more

    Indonesia sees 2014 mineral output falling 'drastically' - Indonesia's production of metal ores is expected to fall "drastically" due to a ban on unprocessed mineral exports set to begin in January, a government official said, as there is insufficient smelting capacity to absorb the volumes of base metal ores the country produces. - more

    China plays hardball with commodities - After China had to pay a premium, it gouged other countries. The problem started in the middle of the 2000s with nickel, an element used to make stainless steel cooking pans, guitar strings and refrigerator doors. - more

    Russia's stainless steel export is speeding down - According to SpetsStal's expert appraisal, in November 2013, compared with October, the volume of Russia's stainless steel export decreased 38.4% to 616 tons. - more

    Miners batten down for Pilbara cyclone - Cyclone Christine is intensifying and is expected to cross WA's Pilbara coast tonight, as iron ore miners shut down production. - more

    China raises standards for non-ferrous metal industries - Chinese authorities on Friday released a set of improved standards on non-ferrous metal industries as part of the effort to reduce pollution. - more

    Mirabela gets temporary lifeline - Embattled miner Mirabela Nickel has secured a $US45 million lifeline to continue operations while it works towards a comprehensive refinancing and operational restructuring. - more

  Morning Nickel Price Statistics & Figures

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

Friday, December 27

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.40/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total 258,510 tonnes, a new all time record high. For only the second day this month, cancelled warrants slipped below the 40% level. The Euro is trading higher against the U Dollar this morning and this is adding some positive trading momentum to base metals. Indonesia is reaffirmed its affirmation of another affirmation that it will impose an export ban on unprocessed nickel ore beginning January 15th. Nickel had slumped in the last two sessions, and it appears minerals ministry officials in Indonesia, who realize their contribution to the Indonesia economy is fixing to take a big hit in the short term, apparently felt it necessary to remind traders around the world that they indeed were going thru with their plans, in an attempt to keep recent price gains intact. Indonesia will take an immediate economic hit for this decision, with an untold number of mines closing and hundreds to be unemployed. It's a gutsy move, and one other countries have been unwilling to take, especially with the export of chrome ore to China. Whether it pays off  in the long term - or the move forces to China to dig deeper into its bag of "ways to beat the status quo", remains to be seen. Ten years ago, the ore that China is importing was classified as waste material and discarded. What will the nickel market look like ten years from now? Stay tuned.  
  • Average price of cash nickel so far this month - $6.30/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs to Four-Month High in London on Signals of Growth - more
  • LME Morning - Copper at four-month high, on track for best month since Sept - 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 Daily Price Index -  80.23
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • China to become world largest economy in 15 yrs - more
  • Russian tycoon and Norilsk co-owner files for divorce - more

    Indonesia to Regulate Metal Exports for Miners With Smelters - Indonesia, the world’s largest mined nickel producer, will proceed with a plan to ban mineral-ore exports for mining companies without smelters next month, while regulating shipments by miners that do process ore. - more

  • Indonesia govt to alter mineral export ban before Jan deadline - more

    Courtesy AISI - In the week ending December 21, 2013, domestic raw steel production was 1,733,000 net tons while the capability utilization rate was 72.3 percent. Production was 1,785,000 net tons in the week ending December 21, 2012, while the capability utilization then was 71.7 percent. The current week production represents a 2.9 percent decrease from the same period in the previous year. Production for the week ending December 21, 2013 is down 4.7 percent from the previous week ending December 14, 2013 when production was 1,818,000 net tons and the rate of capability utilization was 75.9 percent.

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • 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 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.53/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.06/lb lower, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME licensed warehouses rose to a new record high of 258,258 tonnes. On this day one year ago, these same warehouses stood at 138,732 tonnes. Markets are closed tomorrow and Thursday so our next planned update will be on Friday. Nickel is trading 7% higher than it was a month ago, but over 17-1/2% lower for 2014. And as a reminder of the volatility the market had to endure in years past, nickel is trading 62% higher than it did in 2009, and 59% lower than it did the prior year of 2008. Merry Christmas and Happy Holidays to all of our daily readers.
  • Average price of cash nickel so far this month - $6.30/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper gains for 3rd day, zinc hits near 10-month peak - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.25
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Nickel reaches seven-week high as Indonesian export ban nears - more

    Metals Seen Rallying With Crops After Record Tumble: Commodities - Metal and crop prices are poised to rebound in 2014 as accelerating economic growth boosts demand, helping to staunch this year’s record retreat for investments in commodity-focused funds. - more

     AK Steel 12/23 - AK Steel said today that, in addition to the stainless steel price increase announced by the company on November 22, 2013, the company will also increase base prices for all of its remaining stainless steel products, effective with shipments on January 1, 2014. AK Steel said the increase will be achieved through a discount reduction of two percentage points. For all products priced using net prices, including automotive exhaust products, the increase will be achieved by adding $.02 per pound to the existing prices. Surcharges for the broad range of stainless steel products that AK Steel produces will remain in effect, and can be found under the Markets and Products section of the company's web site at www.aksteel.com.

    China to Impose 1% Import Duty on Ni Unwrought from Next Year =Finance Department announces list of 2014 import & export duty rates= At the end of last week, the Finance Department of the Government of China announced a list of import & export duty rates to be applied from 1 January 2014. - more

    Rusal Says LME Warehouse Rule Changes are ‘Irrational’ - The London Metal Exchange, the world’s biggest market for industrial metals, made “irrational and disproportionate” changes to its warehousing policy after unfair consultation, United Co. Rusal said in a lawsuit, according to Hong Kong Exchanges & Clearing Ltd. - more

  • Rusal launches legal action against LME warehouse rules - more

    Ramu Nickel CIRCUS continues at “MOA Signing” - World Class MCC continues on with its “Development” of Madang Province. - more

  Morning Nickel Price Statistics & Figures

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

Monday, December 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.46/lb . Indicators at 6:50 am CST today show 3 month nickel trading flat, with other London traded base metals trading mixed and mostly lower. Stockpiles of nickels stored in LME licensed warehouses rose to another all time record high of 255,906 tonnes on Friday. Nickel prices are off earlier session highs and struggling to maintain Friday's gains. With Christmas in the middle of the week this year, we expect trading to be light, with some traders on an extended holiday break. This could remain true for next week as well. The London Metal Exchange will be closed Wednesday and Thursday for Christmas and Boxing Day. Our daily updates will be sporadic over the next two weeks and will return to some consistency on January 6th.
  • Average price of cash nickel so far this month - $6.28/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.23
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) World crude steel production for the 65 countries reporting to the World Steel Association was 127.4 Mt in November 2013. Although this is 5% down on October, it marks a 4% gain on November 2012. The year to November total for 2013 was 1,447.7 Mt, up 44.8 Mt (or 3.2%) on the same period in 2012.
  • (China) Steel companies see profits drop - more
  • (China) China steel output seen up 2-3 pct to 800 mln T in 2014 - industry - more

    (Merafe) - Shareholders of the Company are advised that the European benchmark ferrochrome price for the first quarter of 2014 has been settled at 118USc per pound which is an increase of 5% from the 112.5USc per pound price in the fourth quarter of 2013.

    Nickel Climbs to Seven-Week High on Indonesia Supply Concern - Nickel rose for a fifth day, reaching a seven-week high, on concern that supplies will decline from Indonesia as the biggest producer of mined metal was set to start a ban on mineral-ore exports next month. - more

    Indonesia ore export ban could boost shipping costs - Indonesia's plan to ban exports of unrefined nickel and other minerals could drive up shipping costs as Chinese importers seek new supplies from more distant sources such as Australia and New Caledonia. - more

    MCC will still fall well short of full production in 2014 - Papua New Guinea’s only nickel/cobalt developer and exporter, Ramu NiCo Management (MCC) Ltd is committed to reach 70 per cent of design capacity next year, according to Board Chairman and President, Mr Zhao Shimin. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, December 19

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.40/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading lower. Stockpiles of nickel stored in LME approved warehouses fell for a second consecutive day and ended the day just over the 255,100 tonne level. Nickel is bucking the downward pressure of a weaker Euro, and is trying to close for a second day over the psychological resistance of $14,000/tonne. Following the announcement by the US Fed of a token tapering, the initial market reaction was negative, but when traders realized the free money would continue to flow - equity markets bounced with the US Dow closing at anew record high. The US Dollar also bounced, and with the Euro trading lower, base metal prices are feeling the pressure. Fundamental news, minus the huge surplus in supply and demand, remains positive, and the market could get a technical signal if nickel closes above $14,000/tonne again. We are entering the holiday season and traders will begin to finalize their portfolio's for the year end. This does not mean prices could not move sharply either way, volatility should remain low.
  • Average price of cash nickel so far this month - $6.26/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Drops on Stronger Dollar as U.S. Fed Scales Down Stimulus - more
  • Reuters metals morning - Copper falls most in 3 weeks as Fed reduces stimulus - more

  Reports

  • United Performance Metal December 2013 Chrg Report - 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 - 80.20
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Bougainville mine: locals who oppose its re-opening must have a voice - more
  • (WSJ) Copper Falls After U.S. Fed Tapering; Nickel Bucks Trend

    Indonesia seeks loophole for mining export ban -economy minister - Indonesia's government is looking to find a loophole in next month's ban on the export of unprocessed metal ore, chief economic minister Hatta Rajasa said on Thursday, aimed at miners that already process domestically. - more

    Western Areas sees Indonesian nickel ore export ban boosting 2014 nickel prices - Nickel prices are likely to be pushed higher in 2014 if Indonesia introduces an export ban on laterite nickel ore, which would tighten supply particularly for China, according to Dan Loughner, the head of Australian nickel producer Western Areas. - more

    Market Trend of Import of Ferroalloy as of 13 December 2013 =No alteration takes place in China's export duty on ferroalloys scheduled to be enforced from 1 January 2014 = Market trend of import of ferroalloys as of 13 December 2013 is as follows. - more

   Deep-sea mining pushed - The demand for metals is adding more pressure on land-based resources, resulting in growing social and environmental issues, Nautilus’ PNG based environmental adviser William Saleu said. - more

    Bindura Nickel back to black with $3m profit - Bindura Nickel Corporation has returned to the black, posting a profit of $3.3 million in the six months to 30 September from a loss of $7.9 million last year on the back of increased production at its Trojan 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)
  • 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 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.33/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses fell for the only the fourth time this month, and closed just below the 255,250 tonne level. Traders continue to struggle breaking thru the psychological barrier of $14,000/tonne and have fallen short on three occasions now. Fundamental news for long term nickel remains positive with the Indonesia ore export ban looking more likely to take effect next month. If the US Fed announces the beginning of a tapering of its bond buying program, we could see a reaction by nickel traders. Yesterday, we said we were highly doubtful of any such announcement being made this month, and while we still remain pessimistic, we are surprised that the market does not appear to be sending its monthly 'warning' to the Fed chair. In months past, any rumor of a potential tapering or Fed meeting would send equity markets lower around the world, but this time around, we are not seeing that reaction. The markets appear to be more accepting of the reality of an eventual tapering, but we still expect any announcement, when its ever made, will cause an initial knee jerk reaction.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls, market cautious ahead of Fed decision - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.18
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    Western Areas sees Indonesian nickel ore export ban boosting 2014 nickel prices - Nickel prices are likely to be pushed higher in 2014 if Indonesia introduces an export ban on laterite nickel ore, which would tighten supply particularly for China, according to Dan Loughner, the head of Australian nickel producer Western Areas. - more

    Goldman Sachs Said to Name Global Commodities, Metals Heads - Goldman Sachs Group Inc. made two senior appointments for its global commodities and metals businesses, said a person with knowledge of the matter. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, December 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.41/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with most other London traded base metals quiet and slightly higher this morning. Stockpiles of nickel stored in LME approved warehouses rose to yet another record high of 255,552 tonnes yesterday, with cancelled warrants still above the 40% level. Nickel is trading above the $14,000 level for a second day today, and if it closes above this mark, it finally may  get over this psychological mark. Markets are quiet today due to the US Fed meeting today and potential tapering talk. If the Fed does announce plans to start tapering off putting cheap money into the US economic system, and we doubt they will, the moves will be so choreographed, that the addicted will initially panic, but quickly realize the drug flow continues. We hope we are wrong and the Fed gets out of the business of making the wealthy wealthier, but there is some evidence that the economy isn't quite as strong as it might first appear, and when you get past the statistics, you see that a lot of people are still suffering, and many of those who aren't, are afraid they are one pay check away from begin in an equally dismal state.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings Between Gains and Drops Before Fed Policy Meeting - more
  • Reuters metals morning - Copper steady near two-month high ahead of Fed meeting - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.18
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (Australia) Downturn in mining investment threatens economic growth, says Joe Hockey - more
  • Tropical Pacific to remain ENSO-neutral for the first quarter of 2014 - more
  • (US) Growth Reverses Again in November - more

    Nickel Market may be Missing the Bigger Picture  - With 2014 quickly approaching, all eyes in the market appear to be turned east to Indonesia. As of the beginning of December, the Indonesian government has signalled that it would proceed with putting into effect a ban on unprocessed mineral ores. - more

   Indonesia’s Cabinet to Discuss Ore Ban Amid Freeport Queries - Indonesia is drawing up a government regulation that will lay out details of how a planned ban on mineral-ore shipments will be implemented next month, with the cabinet scheduled to review the issue later this week. - more

    China state stockpiler is considering buying copper, nickel - sources - China's commodity stockpiler is working on plans to buy about 300,000 tonnes of copper and 100,000-150,000 tonnes of nickel in 2014 to take advantage of weak international prices, said three sources with knowledge of the matter. - more

    Strong Unclear Outlook for Price of Chinese Ferro-nickel =It's difficult to forecast about Indonesia's export ban on ores= Although there is some indication the price of ferro-nickel in the Chinese market will go up, the unclear outlook for the future price is strong. - more

    BHP Billiton plc ceases mining at Perseverance Underground due to safety concerns - Production has been suspended since 31 October following a significant seismic event. - more

    Talvivaara wins court approval for debt restructuring - Struggling Finnish nickel miner Talvivaara has won court approval to restructure its debt, allowing the company to continue production and helping it to fend off bankruptcy. - more

    Nickel surplus grows to 147,600 T in Jan-Oct-INSG - The global nickel market surplus more than doubled to 147,600 tonnes in the first 10 months of 2013 compared to the same period last year, a monthly bulletin from the Lisbon-based International Nickel Study Group (INSG) showed on Monday. - more

    Courtesy AISI - In the week ending December 14, 2013, domestic raw steel production was 1,818,000 net tons while the capability utilization rate was 75.9 percent. Production was 1,785,000 net tons in the week ending December 14, 2012, while the capability utilization then was 71.7 percent. The current week production represents a 1.8 percent increase from the same period in the previous year. Production for the week ending December 14, 2013 is down 0.6 percent from the previous week ending December 7, 2013 when production was 1,829,000 net tons and the rate of capability utilization was 76.3 percent.

  Morning Nickel Price Statistics & Figures

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

Monday, December 16

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.33/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.02/lb higher, with most London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose to another record high on Friday and started the week at 255,354 tonnes. LME stored nickel has risen to record levels on every day this month, less three. Nickel traders are apparently treating the $14,000 tonne level as a level of resistance, with markets unable to stay above this level during last weeks trading, falling back after crossing this level on two separate occasions. Today, we are currently trading on the plus side. Two closes above this mark should send a technical signal of further increases. Everyone appears to be jumping on the 'nickel is heading higher' bandwagon, and prices may just be taking a break from rising too fast too quickly, but history has told us the market tends to turn when its less expected. The short term market trend has turned neutral, although the sentiment remains bullish.  
  • Average price of cash nickel so far this month - $6.24/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Reaches Six-Week High as Premium Signals Limited Supply - more
  • China weekly nickel forecast poll - 65.6% price to increase, 25% price to fall, 9.4% prices stable

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MNP) The nickel industry has had a tough time of it in 2013 – and at current prices analysts believe as much as 50% of the global supply is operating at a loss.
  • Speculators Most Bullish Since October Before Drop: Commodities - more
  • 2014: Battleground year for stocks vs. commodities - more

    China to raise import tax on nickel, cut export tax on indium in 2014 - China will raise the import tax on non-alloyed nickel such as refined metal to 1 percent in 2014 from zero in 2013, in a move that could reduce the domestic market's oversupply. - more

    Ore Export Ban in Indonesia Seen Spurring Thousands of Job Cuts - Indonesia’s planned ban on mineral ore shipments may trigger hundreds of thousands of job losses in Southeast Asia’s largest economy, an industry group said, urging lawmakers to mitigate the rule’s potential consequences. - more

    Innovation and Investment Pop Commodity Price Bubble - The Tsingshan Holding Group produces nickel pig iron at this plant near Ningde. Chinese companies learned more efficient ways to make stainless steel from this cheaper substitute. - more

    Talvivaara Short-Term Default Concern Eases on Nyrstar Support - Nyrstar NV reinstated support for Talvivaara Mining Co.’s reorganization, easing concerns that the Finnish nickel and zinc miner will go bankrupt. - more

    China announces non-ferrous metal export quotas - China's Ministry of Commerce on Friday announced the first round of 2014 export quotas for non-ferrous metals including rare earth and a list of enterprises eligible for export. - more

   City of Lubbock Issues Moratorium on Corrugated Stainless Steel Tubing - The City of Lubbock has issued a moratorium on new installations of another specific type of corrugated stainless steel tubing. - more

  Morning Nickel Price Statistics & Figures

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

Friday, December 13

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.39/lb . Indicators at 6:50 am CST today show 3 month nickel trading at no change with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses rose slightly on Thursday but enough to set another all time record high at 255,054 tonnes. Trading of nickel has been choppy so far today with a deep fall earlier in the session, followed by a quick recovery. Right now the positive momentum that has driven prices higher this week, appears to be taking a break. We sense that over the last few sessions, the pressure of a potential Fed tapering, that has paralyzed equity traders this week, has increased and is having a few questioning the true impact of the Indonesia ore export ban. No sign yet that the bullish run is over, however. Enjoy your weekend.
  • Average price of cash nickel so far this month - $6.23/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls on Record China Output, Fed Tapering Speculation - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SO) In the first nine months of the current year European stainless crude steel production declined by almost six percent year on year to 5.4 million mt, according to the Stainless Steel Report December 2013 issued by Germany-based service center Damstahl. (more)

    China estimated to have stockpiled a year’s worth of nickel - Indonesia's ban on raw-material exports, to come into effect in January, will have a delayed effect on the refined nickel market as top-producer China has enough ore for at least a year, Macquarie Group says. - more

    Nickel producers look to Philippines, New Caledonia - The nation’s biggest nickel producers will boost ore purchases from the Philippines and New Caledonia for alternative supply as Indonesia is set to halt raw-mineral exports next year. - more

    Xstrata, Nippon Steel begin talks for Q1 ferrochrome term deals - Negotiations between South Africa's Xstrata Alloys and Japan's Nippon Steel & Sumikin Stainless Steel Corp. for ferrochrome contracts for the first quarter of 2014 started in late November amid mixed signals from the market, one of the participants in the negotiations said Friday. - more

    Freeport Working With Indonesia to Clarify Planned Export Ban - Freeport-McMoRan Copper & Gold Inc., the owner of the Grasberg mine in Indonesia, said it’s working “cooperatively” with the government to clarify the situation surrounding a ban on unprocessed raw-material exports. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, December 12

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.35/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses rose to another record high on Wednesday and ending the day at 255,024 tonnes. Cancelled warrant figures continue to break records as well. Nickel is off earlier session highs, and appears to be under late session pressure for a second day. Nickel is currently trading where it was early last month, and will need to raise another $750/tonne before it goes higher than the mini bull run of October hit. Equity markets around the world are lower over Fed tapering concerns, but so far over the past week, nickel and other base metals have been able to maintain their optimism spurred by the Indonesia ore export ban. How long the momentum can continue - only time will tell.
  • Average price of cash nickel so far this month - $6.21/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Asian Stocks Slip on Fed Outlook as Rupee Slides; Nickel Climbs - more
  • Reuters metals morning - Copper, nickel hit 5-week peaks on Indonesia ban worries - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.15
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SA) According to SpetsStal Association, Russia's stainless steel exports in October 2013, compared with September 2013, decreased by 7.8% and amounted to 1,000 tons.
  • Chinese steel mills in Hebei cut output on power limit - more

    Nickel Reaches a Five-Week High on Indonesia Export-Ban Concern - Nickel reached a five-week high in London amid concern about a ban on ore exports scheduled to take effect in a month in Indonesia, the world’s biggest producer of the metal from mines. - more

  • Nickel Outperforms Peers So Far in December - Nickel has rebounded with greater alacrity than its peers so far this month, as investors digest the ramifications of a plan by Indonesia to tighten control of ore exports next year. - more

    Global nickel demand to climb 4.5 pct in 2014, record stocks seen - group - Global nickel demand is expected to climb by 4.5 percent next year, but supply is expected to hit fresh records with new projects coming on stream and existing operations ramping up output, an industry group said on Thursday. - more

    Return of fourth player shakes EU stainless steel recovery hopes - Just as long-awaited consolidation in Europe's stainless steel sector seemed to offer hope of recovery in prices and profits, Finnish producer Outokumpu's surprise sale of two plants back to ThyssenKrupp threatens to undo such gains. - more

    Japan Nickel Producers Look to Philippines After Indonesia Ore Ban -  Japan’s biggest nickel producers will boost ore purchases from the Philippines and New Caledonia for alternative supply as Indonesia is set to halt raw-mineral exports next year. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, December 11

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.38/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose slightly, but any rise these days typically means a new all time record high. Our new record is 253,890 tonnes, with cancelled warrants running at the +40% level since the third of the month. Nickel is now trading north of its 20,50 and 100 day moving average and its short term trend is bullish, having closed twice above an old resistance level of $6.27/lb. We put next resistance at $6.70/lb, so technically, nickel has some room yet to roam. It looks like the decision from Indonesia to enforce the nickel ore export ban next month, isn't yet written in stone. Media is now reporting the Indonesia president will make a final decision on the matter. The stochastic oscillator is sending a heavily overbought signal, while the relative strength index (RSI) does not agree with an overbought condition. We are not yet seeing anything that would calm traders down, although we have noticed most of the bullish trades come early in the session and on most days, trades late in the afternoon turn less optimistic.
  • Average price of cash nickel so far this month - $6.20/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper stocks slump, China premiums to rise as supply dries up - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.17
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (II) URU Metals confirms an end to arbitration proceedings at its Zebediela Nickel Project, following an agreement with its remaining JV partner under which URU will acquire the remaining 26% interest in the project held by a subsidiary of Umnex Mineral Holdings.
  • U.S. Fastener Imports & Exports in October - more

    Indonesia's president to weigh into mineral export confusion - Indonesia's president will make the final decision in a furious debate over next month's scheduled ban on the export of unprocessed metal ore, an issue that pits nationalist-minded lawmakers against officials desperate not to lose revenue. - more

    China Nov refined copper, aluminium output at records - China's production of refined copper rose 2.6 percent from October to a third straight monthly record in November due to increased profits at smelters, while primary aluminium output also hit a record for the second straight month. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, December 10

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.30/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb higher, wth most other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose to a new record high on Monday and now total 253,836 tonnes. Nickel traders continue to bet optimistically on refined nickel following the news last week that Indonesia will enforce the nickel ore ban mid next month. The news out of China was a little negative toward base metals with industrial production growing lower in November than October. The retail sales growth rose during the same period, but industrial production uses the metals. While we are seeing metals having a bullish run here in early December, it is still too early to call this a turn in the bearish trend. This goes for nickel as well, with traders finally getting some news they feel might have an effect on supply and demand parameters down the road, but today's new record high stockpiles number send a chilling reminder that we still have plenty of refined nickel production to deal with.  
  • Average price of cash nickel so far this month - $6.17/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.18
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Norilsk Nickel operates in the Arctic  - more
  • (MF) Turkey’s stainless steel coil imports surge by 43% y-o-y in October
  • (SM) According to weekly data released by the China Iron and Steel Association (CISA) , the aggregate daily crude steel output of large and medium sized member enterprises declined by 2.4% during late-November (November 21st to 30th) compared to mid-November (November 11th to 20th ).

    Nickel Is Best Bet for Barclays as Ore Ban Revives Worst Metal - Nickel, the worst performing base metal this year, offers investors the best opportunity for advances in early 2014 as Indonesia is poised to halt the export of mineral ores, according to Barclays Plc. - more

  • Barclays Sees Nickel Price Rally as Indonesia Bans Ore Sales - more

    Is scarcity over? - This morning, the Wall Street Journal described China's explosion in nickel pig iron production, which has sent global prices reeling by introducing a glut of cheap supply. - more

    Import of SUS Products in October 2013 Is 18,052 Tons =Grossly up by 32% from prior month, and recovers from depression in September= The import quantity of stainless steel products in October 2013 which was compiled by The Japan Iron and Steel Federation based on the trade statistics prepared by the Ministry of Finance was 18,052 tons, grossly up by 32.4% from 13,637 tons of the prior month. - more

    Chan says nickel project significant - Recognizing the significance of the Ramu NiCo project to the country’s economy, the government has endorsed the funding for its special support grant or infrastructure grant through the national budget process, Mining Minister Byron Chan (pictured right) said. - more

  Morning Nickel Price Statistics & Figures

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

Monday, December 9

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.27/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses fell slightly on Friday and ended just over the 253,050 tonne level. We are seeing a continuation of a bullish run that began last week, based mostly on the unknown consequences of the Indonesia nickel ore export ban. Stronger than expected economic news from the US Friday is also adding some positive momentum, but that is always received as a poison pill these days, with Federal Reserve tapering concerns always in the back of traders minds. Nickel has bounced off the $6/lb level sharply, and is facing its first line of resistance at $6.27/lb.
  • Average price of cash nickel so far this month - $6.15/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings as Revived U.S. Economy Fuels Tapering Speculation - more
  • Reuters metals morning - Copper steady on upbeat U.S., China data - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.21
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (FAN) The price of stainless steel scrap (SABOT) to be purchased by Japanese stainless steel mills in December basically remains almost unchanged from the prior month.
  • (SSY) Australian iron ore exports (wet basis) in October reached a monthly record of 56.1 Mt involving a monthly rise of 1.5 Mt and an annual rise of 10.8 Mt, according to trade statistics. Exports in the first ten months of the year climbed to 498.7 Mt, up a massive 79 Mt on the same period in 2012.
  • ABN Amro to Add Commodity Staff in Asia as Demand Increases - more
  • BHP to pay 41 pct more to China copper smelters in H1 charges-sources - more
  • Innovation, Investment Pop Commodity Bubble - more
  • (China) Trade surplus hit record high in Nov - more
  • US Industrial Fasteners Market Worth $14.8 Billion by 2017 - more

    Indonesia trying to skirt its own ban on mineral ore exports - Indonesia's government is still trying to find a way around a mineral ore export ban that the country's parliament is refusing to allow it to sidestep, chief economic minister Hatta Rajasa said on Monday. - more

  • Go-Ahead for Indonesia's Controversial Ban on Unprocessed Mineral Exports - Go-Ahead for Indonesia's Controversial Ban on Unprocessed Mineral Exports starting from 12 January 2014, the export of all mineral-ores are banned in Indonesia. - more

    The 2014 Metals Outlook: Nickel - Australian Mining has investigated the current state of Australian metals and looks into how they will perform in the coming year. In the third part of this five part series we look at nickel. - more

    Minnesota officials urge 'hard look' at new environmental review for proposed PolyMet mine - State officials released a 2,200-page environmental review for the proposed PolyMet Mining Corp. copper-nickel mine to the public on Friday and urged Minnesotans to scrutinize the massive document as the state decides whether to embrace a new kind of mining. - more

  Morning Nickel Price Statistics & Figures

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

Friday, December 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.28/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME licensed warehouses returned to its record breaking pattern yesterday and ended the day at 253,068 tonnes. The upholding of the Indonesia ore export ban is giving the market footing again today, and markets appear to be betting the US employment report may continue to be bad enough to convince the US Fed to hold off on any thoughts of tapering. Markets around the world appear to be a little more enthusiastic today than they have been all week. Our daily update is more brief today than usual as we are caught up in the middle of Winter Storm Cleon and looking forward to Dion for the weekend, so our internet service is intermitten. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $6.13/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises as Indonesia Ban Set to Curb Supplies of Metals - more
  • Reuters metals morning - Copper edges up ahead of U.S. jobs 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 Daily Price Index - 80.25
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    December Price of Ni SUS Scrap Basically Remains Unchanged =Some mills take corrective action on high price and look at increase in January purchase as a whole= The price of nickel-containing stainless steel scrap (SABOT) to be purchased by Japanese stainless steel mills in December basically remains almost unchanged from the prior month. - more

    Steel Scrap Consumption of Chinese Shagang Group To Plunge Up By 13 % in 2013 - Privately owned Shagang Group, China's biggest steel scrap consumer, expects to utilize 5.5 million mt of scrap this year -- or about 15,000 mt/day -- an increase of 500,000-800,000 mt, or about 13%, from last year, a company source said this week. - more

    China's iron ore imports seen at record 850 mln T in 2014-industry body - China's iron ore imports are expected to rise 6.3 percent to a record of 850 million tonnes next year as steel output and consumption of the world's top consumer also push to new highs, an industry group said on Friday. - more

    Mining sector overhaul - The government is overhauling the country’s mining laws and policies to streamline the industry’s business structure - more

  Morning Nickel Price Statistics & Figures

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

Thursday, December 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.16/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.10/lb higher, with other London traded base metals trading mostly higher as well. Stockpiles of nickel stored in LME licensed warehouses slipped for a second day and now total just under the 252,650 tonne level. Indonesia has announced its export ban of mineral ore will take place effective January 12th. Nickel traders, who have been starved fro some positive news, have jumped on this tidbit of info and nickel is trading higher this morning. Now the story becomes - how much impact will this have on China, how soon will this impact take place, and how will it affect the supply/demand parameter of the refined nickel trade. One thing to keep in mind. This site was one of the first that put a lot of merit in the so called pig nickel production back when the rumors starting to surface, not necessarily because we understood what was happening, but because we follow history and history teaches that the Chinese people are some of the most resourceful in the world. Now, while 'pig' nickel production has become massive, it is heavily dependent on the import of low grade laterite ore from a few countries, the largest of these being Indonesia. The second largest source, the Philippines, can not fill the void. So how will China face this new dilemma? It will be interesting to watch, but based on history, they will find a way. In the mean time, nickel has found some footing, but with the threat of tapering concerns flooding the market once again, that footing will remain slippery.  
  • Average price of cash nickel so far this month - $6.09/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Tin Reaches Five-Week High as Indonesia Export Ban to Go Ahead - more
  • Reuters metals morning - Copper slips on increased caution about Fed tapering - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.32
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    Indonesia to Ban Ore Exports in ’14 After Parliament Backing - Indonesia’s government will proceed with a plan to ban all mineral-ore exports next year after it received backing from parliament, said Energy and Mineral Resources Minister Jero Wacik. - more

    China nickel importers strike term deals with eye on Indonesia ore ban - China's refined nickel importers are negotiating 2014 term deals with suppliers that give them the flexibility of adjusting shipment volumes depending on how Indonesia's proposed ban on ore exports turns out. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, December 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.08/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME licensed warehouses slipped on Tuesday and now totals just over the 252,800 tonne level. Cancelled warrants remain over 100,000 tonnes and totaling over 40%. While base metals are trading slightly higher this morning, trying to explain why is not possible this morning. Equity markets are lower, the Euro and US Dollar is quiet, and there is no news affecting metals fundamentals. Nickel's RSI opened the session at 32.58, very close to sending an oversold technical signal.
  • Average price of cash nickel so far this month - $6.06/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs Before Reports Seen Showing More Hiring in U.S. - 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 Daily Price Index - 80.36
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MF) Tang Eng mulls to cut stainless output further next year
  • Breaking news: Five shot dead at Porgera mine - more
  • U.S. Fastener Imports & Exports both Decline in September - more

    World nickel output outstripped demand in 2012 - INSG - Global production of nickel rose 9 percent in 2012, outstripping consumption by 94,500 tonnes, data from the Lisbon-based International Nickel Study Group (INSG) showed. - more

   (PR) For the month of December 2013, North American Stainless will maintain the fuel surcharge at 33% for stainless flat and long products. The surcharge rate is considered a maximum level for December and will be reviewed monthly. (source)

    LME Reviewing Future of London’s Last Open-Outcry Trade Pit - The London Metal Exchange, the biggest industrial-metals market, is considering the future of floor trading and may take a decision in 2014, said Charles Li, chief executive officer of Hong Kong Exchanges & Clearing Ltd. - more

   Too Soon for Timeline on Ring of Fire, Negotiator Says - As mining companies wait on the sidelines, aboriginal groups and the Ontario government haven’t even set guidelines for negotiations over how to develop and share the mineral-rich Ring of Fire area, a lawyer representing the indigenous groups said. - more

    Export Duty on Nickel, Copper May be Scrapped to Support Industry Giants - A 5 percent export duty on nickel and copper may be scrapped in 2014, two years earlier than planned, to support indebted metals and mining companies struggling with weak prices, Vedomosti reported Tuesday. - more

    Otto: Think of taxpayers when considering copper-nickel mining - State Auditor Rebecca Otto has been an outspoken skeptic of proposals to mine copper and nickel in northern Minnesota. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, December 3

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.10/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to another all time record high on Monay and ended at 252,972 tonnes. While US citizens are more pessimistic about the future according to economic pollsters, they are spending money and this has traders nervous that the Fed may find another reason to cut off its supply of cheap money to the markets. Yes, tapering - the dirty word seen by investors as more difficult than being asked to beat a heroin addiction cold turkey. Once again, positive economic news is taken as a negative by the markets. Nickel traders are having a hard time finding anything positive to trade on. There is that nickel ore export ban that may - or may not - take effect next month in Indonesia, China's largest source for low grade laterite ore. Otherwise, setting new record high stockpile numbers is a nearly daily event. And cancelled warrants, have spent the last few days jumping over and back under the 100,000 tonne level. Base metals could benefit from some volatility we expect to hit the market later this month as US Congress once again, should fail to reach a budget agreement.
  • Average price of cash nickel so far this month - $6.07/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls as Reviving U.S. Economy Fuels Tapering Speculation - more
  • Reuters metals morning - Copper drops for second day on supply, tapering worries - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.39
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Polluting Chinese miners will be made to pay in deposit scheme - more
  • Russia Stocks Retreat Third Day as Mechel to NLMK Sink on Metals - more
  • ENSO-neutral conditions persist in the tropical Pacific - more

    China's FeNi Production in CY2013 Anticipated to Be around 6.6 Mil. Tons =Up by more than 29% from prior year due to prevalence of RKEF equipment = China's production of ferro-nickel in CY 2013 is anticipated to be around 6.6 million tons (material quantity). - more

    Non-ferrous metal output rises despite overcapacity - China's non-ferrous metal production continued to rise at a fast pace in October, highlighting the industry's lingering overcapacity problem, new official data showed. - more

    Brazil's Vale targets 289,000 mt nickel, 405,000 mt copper in 2014 - Vale plans to produce 289,000 mt of nickel and 405,000 mt of copper in 2014, the Brazilian miner said Monday. - more

    China Steel to cut prices on uncertainty in outlook - China Steel Corp, Taiwan's biggest steel maker, cut its domestic steel prices for January and February shipments by 0.75 percent on average as the outlook for demand remained cautious. - more

    Russia may scrap nickel, copper export duty in 2014-paper - Russia may scrap a 5 percent export duty on nickel and copper in 2014, two years earlier than planned, to support indebted metals and mining companies struggling with weak prices, business daily Vedomosti reported on Tuesday. - more

    Courtesy AISI - In the week ending November 30, 2013, domestic raw steel production was 1,812,000 net tons while the capability utilization rate was 75.6 percent. Production was 1,744,000 net tons in the week ending November 30, 2012, while the capability utilization then was 70.1 percent. The current week production represents a 3.9 percent increase from the same period in the previous year. Production for the week ending November 30, 2013 is down 2.1 percent from the previous week ending November 23, 2013 when production was 1,850,000 net tons and the rate of capability utilization was 77.2 percent.

    Timeline: PolyMet's history in Minnesota - PolyMet Mining hopes to be the first Minnesota company to mine copper, nickel and precious metals in northern Minnesota. - more

  • Proposed copper mine would last 20 years (followed by 500 years of maintenance) - more
  • Photos: At PolyMet, ramping up to mine copper - more

  Morning Nickel Price Statistics & Figures

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

Monday, December 2

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.11/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses ended November much like ti started, b setting another all time record high. Friday stockpiles ended the day at 252,126 tonnes. Thursday, while US markets were closed for the Thanksgiving holiday, we saw another 'first' reached when LME recorded cancelled warrants of 101,214 tonnes. Go back to December 3, 2007 and total LME warehouse stockpiles stood at 44,334 'before' cancelled warrants. We like to think cancelled warrants are a recording of the nickel stockpiles that are sold - but in reality most of this is owned by investor houses and will never leave the warehouse where it sits. Markets are entering December in a wait and see attitude.
  • Average price of cash nickel so far this month - $6.23/lb (Nov)
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines Amid Signs Investors Are Shunning Raw Materials - more
  • Reuters metals morning - Copper falls as surplus fears eclipse China 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 Daily Price Index - 80.53
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Global iron ore: new import areas and Chinese slowdown? - more
  • (SSY) The world export price of hot rolled band edged up by $2/t to $559/t at the end of November, according to the latest SteelBenchmarker published by World Steel Dynamics. This marks the highest level since mid-September.
  • (X) China's crude steel output rose 8.3 percent year on year to 652.48 million tonnes in the first ten months of 2013, faster than the 2.1% increase seen in the same period last year, the country's top economic planner said Thursday.
  • (CFI) China's manufacturing sector maintained its highest level of output since March 2012 for the second consecutive month in November, as domestic and foreign demand remained steady. The National Bureau of Statistics released the November manufacturing Purchasing Managers' Index of 51.4, unchanged from October and besting market expectations of 51.1.
  • Worst Raw-Material Slump Since ’08 Seen Deepening: Commodities - more

    Nickel Fell Fastest in November - November has been a been a bad month for base metals, but none has done worse than nickel, however an export ban due to be implemented in Indonesia could find nickel prices looking up next year. - more

    Thyssen shares plunge as US and stainless steel deals disappoint - Shares in ThyssenKrupp plunged in early Monday trading after the company announced over the weekend the sale of its U.S. steel plant, a deal to take back stainless steel assets it sold last year and plans for a capital increase. - more

  • Thyssen announces capital increase as U.S. deal sealed - more

    Prices of CR Austenitic Stainless Sheets Hold at around $2,400 CFR - Although the LME nickel price comes close to the level dipping below $6 per pound, prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian region hold at around $2,400 CFR. - more

    An Emerging Opportunity in the Nickel Sector - At current price levels, industry experts believe up to 50% of all active nickel production in the world right now is loss-making. - more

    Service Center Shipments Continue Climb in October - North American service center shipments continued a year-end rebound with improvements in both steel and aluminum in the United States and Canada. - more

    Molybdenum production and use increases in Q2 2013 - Global use of molybdenum in the second quarter of 2013 was 127.3 million pounds, up 4% from 122.6 million pounds in the previous quarter, figures released by the International Molybdenum Association (IMOA) show. - more

    Court approves Talvivaara's last-ditch effort to avoid bankruptcy - The troubled nickel mining company will be allowed to seek reorganization as its cash supplies dwindle. - more

    FAQ: Everything you need to know about PolyMet - PolyMet wants to mine copper, nickel and precious metals for 20 years at a site located just north of Hoyt Lakes in the Superior National Forest. - more

  Morning Nickel Price Statistics & Figures

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

 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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9/23 Market Prices
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Moly Oxide (>51%)
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