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page is archived news covering the period of December 2013
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
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
(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)
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
(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.
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)
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
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)
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
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)
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
(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) 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)
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
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)
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
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)
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
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)
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
(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)
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
(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)
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
(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)
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
(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.
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)
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
(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)
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
(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)
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
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)
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
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)
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
(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)
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
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)
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
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)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.07/lb
Reports
Commodity/Economic Comments
Forecasts for 2014 (quotes from past articles)
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.
-
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. -
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. -
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
. Indicators at
7:00 am CST today show 3 month nickel trading around $.04/lb
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. -
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. -
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. -
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. -
Ramu Nickel
CIRCUS continues at “MOA Signing” - World Class MCC continues on
with its “Development” of Madang Province. -
(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.
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
