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Wednesday, December 31
Happy New Year!! - May 2015 be kind to you and be one of your best yet

    Our next update will be Monday, January 5th. Have a relaxing and enjoyable weekend!

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $6.83/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading slightly lower as well. Stockpiles of nickel stored in LME approved warehouses ended the years daily reports at a new record high, at 413,148 tonnes. These same reports showed 2013 ended at 261,636 tonnes. Cancelled warrants hit their lowest percentage of total stockpiles since October 2013, when trading houses began to quietly buy stockpiles in anticipation of a possible Indonesia ore ban - which did take place in mid January. Its the time of year when metal analysts figure out ways to convince you they were pretty smart in their 2014 forecasts, no matter how far off they were, and announce their 2015 predictions. Some even boast they advised their clients to hedge in the first quarter of the year, then link to when they actually made that recommendation - half way thru the second quarter, and four days before nickel peaked for the year. Not advice one should necessarily brag about. Reuters has one of the best lists of assorted analysts forecasts, which they typically publish sometime in January. In the mean time, the recent Australian Conference listed a few  predictions (here) in an article we linked to earlier this month. LME closes early today, and will re-open on Friday for the first trading day of 2015. We will be back on Monday, the 5th. See you next year! 
  • Average price of cash nickel so far this month - $7.24/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Poised for Worst Year Since 2011 as China’s Economy Cools - more
  • Reuters metals morning - Copper holds firm but on course for worst year in three - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.17
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Mainland China factory activity shrinks as new orders decline - more

    Mining in 2015: Nickel price promises much - The metal was languishing at multi-year lows in January but against market expectations Indonesia stuck to its guns and stopped nickel ore from leaving its shores. - more

    Firms partner to develop Solomon’s nickel project - An Australian firm has entered into a partnership with Anitua Ltd which is providing A$5 million (K10.5m) in funding to advance development of the Isabel Nickel Project in the Solomon Islands. - more

    Iron Ore Caps Annual Loss as Morgan Stanley Says Worst Is Over - Iron ore is poised for the biggest annual decline in at least five years as surging supplies from the world’s biggest producers outstrip demand growth in China, with the raw material dropping for every quarter in 2014. - 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 news and information free of charge. Contact us

Tuesday, December 30

    Our favorite holiday video - more  All of the 'actors' in this video were dogs and a cat from a local shelter. Happy Holidays!!

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones is reporting three month nickel closed Monday's trading session at $6.83/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb lower, with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses rose to a new record high on Monday, and now total 412,704 tonnes. Cancelled warrants slipped below 22% for only the second time this year, down from a high of 49.32% on March 25th. At today's price, nickel is trading over 7% higher than it was on the first of the year, and nearly 7% lower for the month. Nickel traded at $9.81/lb on May 13th, and $6.05/lb on January 9th. We have nickel testing another line of support ($6.79/lb) this morning, but it is showing little sign of giving the metal any support yet. The short term trend is negative, and we have the next line of support at $6.65/lb. Tomorrow will be our last entry for 2014. For those of you taking New years Eve off, we wish you the very best in 2015.
  • Average price of cash nickel so far this month - $7.27/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Trades Near Four-Year Low Before China Manufacturing Data - more
  • Reuters metals morning - Copper edges up after 4-1/2-year low hit on China growth woes - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.70
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (FAN) It was reported that Japan's stainless steel mills already settled contract prices of LC ferrochrome (FeCr) at average US$207 cents/lb for the first quarter of 2015, holding steady from that for Q4.
  • Will Vale Come Out of its Woes in 2015? - more

    Koniambo nickel plant suspends output after spill-Glencore - Production from the Koniambo nickel plant in the South Pacific French territory of New Caledonia has been suspended after a metal spill last week, part owner Glencore said on Tuesday. - more

    Before Deficit Falls: Nickel on Global Trend - Investors and industry leaders brace themselves for the fast-approaching supply deficit, especially now that nickel prices remain precarious as the year reaches its end. - more

    Iron Ore in Longest Streak of Gains Since July on China Stimulus - Iron ore climbed for a fourth day, the longest run of advances since July, on speculation the Chinese government will take measures to bolster growth, spurring demand in the world’s biggest buyer. - more

    Courtesy AISI - In the week ending December 27, 2014, domestic raw steel production was 1,746,000 net tons while the capability utilization rate was 72.6 percent. Production was 1,788,000 net tons in the week ending December 27, 2013, while the capability utilization then was 74.6 percent. The current week production represents a 2.3 percent decrease from the same period in the previous year. Production for the week ending December 27, 2014 is down 5.5 percent from the previous week ending December 20, 2014 when production was 1,848,000 net tons and the rate of capability utilization was 76.8 percent.

    Glencore in Sudbury receives recognition - Glencore's Sudbury Integrated Nickel Operations -- also known as Sudbury INO -- has been recognized for its "outstanding performance" in creating a safe, environmentally friendly operation. - 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 news and information free of charge. Contact us

Monday, December 29

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $6.90/lb . Indicators at 6:40 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 approved warehouses fell slightly over the weekend and now total just over the 410,800 tonne level. SMM is reporting nickel ore stockpiles at five major China ports fell again last week, down another 405,000 tonnes to 13.65 million tonnes. Four months ago, these same stockpiles measured 14.91 million tonnes. LME will be closed on January 1st for New Years Day and reopen for trading on Friday. Copper is trading at a 4-1/2 year low today and this is adding negative pressure on Nickel. Another analyst is backing off the rush to forecast doom and gloom for nickel next year, and you can read his reasoning in the article below titled 'Nickel: Watch Indonesia and Philippines, Cuba Is The Wild Card'. We are not finding much information yet on the chemical spill at the just opened Koniambo plant in New Caledonia late last week, but  we will keep looking.
  • Average price of cash nickel so far this month - $7.29/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Trades Near Four-Year Low as Data Signals China Slowdown - more
  • Reuters metals morning - Copper eases; hits near-1-month low on weak demand, strong dollar - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.87
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    Nickel: Watch Indonesia and Philippines, Cuba Is The Wild Card - The year 2014 is a commodities bear market. Nickel, however, is in the black. As a result, its producers have done fairly well. - more

    China Driving the Global Nickel Consumption - Global nickel consumption can be attached on the back of the rising consumption in china, accounting more than half of the global consumption, says RNCOS. - more

    Nickel Outlook 2015: Deficit May Be in the Cards by Q2 - This time last year, nickel market participants were looking forward to finding out whether Indonesia's long-awaited ban on unprocessed ore exports would come into effect as planned on January 1, 2014. - more

    Millions of damage after New Caledonia nickel spill - Initial assessments from last week's nickel spill at New Caledonia's Koniambo plant put the damage at more than three million US dollars. - more

    China's non-ferrous metal production slows - China's total production of 10 major non-ferrous metals grew at a slower pace in the first 11 months of this year, the top economic planner said Saturday. - more

    Goldman Sachs sells metals warehouse unit - Goldman Sachs has sold a metals warehouse unit it acquired in 2010 to Reuben Brothers after the business attracted congressional scrutiny in the United States. - more

    Brazilian iron ore miner Vale reports 7.6% increase in exports in first 11 months of 2014 - Brazilian miner Vale has seen its iron ore exports increase by 7.6 per cent in the period from January to November of 2014, compared with the first 11 months of last 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 news and information free of charge. Contact us

Wednesday, December 24
Merry Christmas / Happy Holidays

    Happy Holidays - LME markets are closed until Monday, January 29th. Our next update will be that day as well. Have a wonderful weekend!

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $7.00/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses rose to anther record high on Tuesday and now total 410,880 tonnes. Stockpiles were at 258,258 tonnes this day last year, with stockpiles at 408,408 two days ago. Put that in your 'believe -it -or -not' pocket this morning. The London Metal Exchange closes early today, and is closed for the remainder of the week. We want to take a moment and thank our regular readers for spending a few moments of each day with us, and want to wish you the very merriest of Christmas'.
  • Average price of cash nickel so far this month - $7.31/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Zinc Advances in London as U.S. Economic Growth Accelerates - more
  • Reuters metals morning - Copper steadies after bright U.S. growth data; dollar, oil eyed - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.13
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SO) Indonesia initiates AD investigation on CR stainless steel imports

    Market View - November saw the end of nickel’s sharp descent which began in September. The metal closed the month at US$16,223/t (US$7.36/lb) after rebounding off a low of US$15,185/t (US$6.89/lb) on the 10th of November. - more

    Inquiries of CR Austenitic Stainless Sheets from EU Increasing - According to a source, inquiries of cold-rolled (CR) austenitic stainless steel sheets are increasing from Europe before entering the Christmas holiday. Bid prices are said to be around $2,600 CFR in dollar volume. - more

    China to Abolish Import Duty on FeNi and HC FeCr = Ministry of Finance publishes import and export duty list for 2015 = On December 16, the Ministry of Finance of China published a list for import and export duty rates to be applied from 1 January 2015. - more

   Iron-Ore Miners Cut 140 Million Tons of New Capacity - Iron-ore producers have canceled or suspended 22 mining projects since July as prices plunged to a five-year low, which will help to curb or even eliminate a supply surplus, according to Bloomberg Intelligence. - 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 news and information free of charge. Contact us

Tuesday, December 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Monday's trading session at $7.09/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.06/lb lower, with other London traded base metals trading mostly lower. Stockpiles of nickels stored in LME approved warehouses rose to another record high on Monday and started today's session at 408,990 tonnes. Chinese media reports nickel ore stockpiles at five major ports in China fell by 661,000 tonnes last week and began the week at 14.06 million tonnes. These ore stockpiles have now fallen 1.14 million tonnes since the first of the month. The technical triangular squeeze continues today, and is nearing a possible breaking point. One technical analyst is claiming the signal is negative with a possible break lower to $6.67/lb very possible. We are skeptical, with traders entering 2015 with, in our opinion, more optimism than may be merited, much like 2014. This offers the market support, and could keep the traded value in the $7/lb range. With the four day Christmas shutdown just a few days away, we really don't expect to see much of a movement in either direction.
  • Average price of cash nickel so far this month - $7.34/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Drops to Two-Year Low as Housing Data Adds to Demand Concern - more
  • Reuters metals morning - Copper steadies but worries over China demand persist - more

  Reports

  • AK Steel January Stainless Steel Surcharge - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.51
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Chart of the day: Greenback's challenge - more
  • Near El Niño conditions persist in tropical Pacific Ocean - more

    EU Stainless Steel prices may rise in the first quarter of 2015: MEPS - Stainless steel business activity is at a low levels in Europe. With alloy surcharges falling in December and set to rise in January, some speculative purchasing may have been expected, this month. - more

    World Nickel market ended in 148 kt surplus: WBMS - The latest report published by the World Bureau of Metal Statistics (WBMS) indicates that global Nickel market has recorded a surplus during the initial ten months of the year. - more

    Courtesy AISI - In the week ending December 20, 2014, domestic raw steel production was 1,848,000 net tons while the capability utilization rate was 76.8 percent. Production was 1,788,000 net tons in the week ending December 20, 2013, while the capability utilization then was 74.6 percent. The current week production represents a 3.4 percent increase from the same period in the previous year. Production for the week ending December 20, 2014 is down 1.7 percent from the previous week ending December 13, 2014 when production was 1,880,000 net tons and the rate of capability utilization was 78.2 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 news and information free of charge. Contact us

Monday, December 22

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Friday's trading session at $7.08/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.05/lb higher, with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses did something they hadn't since since the first week of the month. After a large gain Friday, nickel stockpiles started this week at a new record high, 408,408 tonnes. The London Metal Exchange will be closed on Thursday and Friday, for Christmas and Boxing Day, and we will not be updating these days as well. Not expecting much this week, while 60% of Chinese metal analysts polled predict the price of nickel will rise between now and the end of the year. Technically nickel appears to be rangebound but entering a triangular squeeze, which can sometimes be followed by a run in whichever direction it breaks out of the triangle on.
  • Average price of cash nickel so far this month - $7.35/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Nickel Leads Metals Higher Before U.S. Homes, Durable Goods Data - more
  • Reuters metals morning - Copper up on view it looks cheap after falls - more

  Reports

  • The Dig – Haywood Mining Team’s week in review - pdf here
  • RJL Mining Weekly: Comps, Commodities, Leaders/Laggards, Research - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Australian firm reduces Tanzania stakes - more
  • (China) Industrial output slowdown a 'new normal' - more
  • ‘Visit Cuba now before Americans arrive’- more
  • Letter to Santa - more

    Nickel Shortage Propels Philippines Mining Boom: Southeast Asia - Michael Defensor is racing to mine and ship nickel from projects across the Philippines to plug the gap in global supplies left by Indonesia’s ore-export curbs. - more

    For base metals, a year of twists, turns and surprises: Andy Home - This year has brought plenty of reminders of just how contrary and difficult markets can be. - more

    Qingdao scandal casts a long shadow - What will 2014 be remembered for in financial markets? For oil and iron ore, it will be the year of price meltdown. - 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 news and information free of charge. Contact us

Friday, December 19

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Thursday's trading session at $7.04/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb higher, with other London trade base metals trading mostly higher as well. Stockpiles of nickel stored in LME approved warehouses rose slightly on Thursday and now total just over the 406,800 tonne level. Nickel has been showing signs of stabilizing somewhat since Wednesday afternoon, and this morning, while on the positive side of the trading coin, confirms this. Daily technical indicators are sending positive signals, but the overall trend is less positive. While the market has seen trading dip below $7/lb this week, it is obvious the bulls have no desire to spend any time there. Some of what we are seeing is possibly over-flow from money pouring into markets in general, but if we see the US equity markets show signs of stumbling again, this money could evaporate quickly. Enjoy your weekend and for those who might be taking next week off, Merry Christmas.    
  • Average price of cash nickel so far this month - $7.38/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 -
  • Reuters metals morning - Copper up as recovery in oil, equities prompts bargain hunting - more

  Reports

  • Oryx Stainless - "Commodities - Mother of all pork cycles" - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.20
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (Merafe) Shareholders of the Company are advised that the European benchmark ferrochrome price has been settled at 108USc per pound for the first quarter of 2015, a decrease of 6% from the 115USc per pound price in the fourth quarter of 2014.

    Stainless Steel Production Reaches 30.9 Million Metric Tons in the First Nine Months of 2014 - The International Stainless Steel Forum (ISSF) has released figures for the first nine months of 2014 showing that stainless steel melt shop production increased by 8.9% year–on–year to 30.9 million metric tons (mmt). Production increased in all regions except for Central and Eastern Europe. - more

     November 2014 crude steel production - World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 131 million tonnes (Mt) in November 2014, a 0.1% increase compared to November 2013. - more

    Venezuela increases the production of nickel at Loma de Niquel - Even though this information is a bit patchy, but the International Nickel Study Group, has reported that the country has produced almost about 27,000 tonnes of nickel ore, in the first 10 months of the current year, after the null production of nickel ore by the country in the previous year. - more

    Mining boom no cure for PNG poverty: Kiwi development expert - Papua New Guinea (PNG) is facing a key challenge in transferring its massive mining industry profits into improving the lives of the half of the population living in poverty, the New Zealand author of a United Nations report on the Pacific island nation said Friday. - 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 news and information free of charge. Contact us

Thursday, December 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $7.09/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses slipped on Wednesday, and began today's session just over the 406,700 tonne level. After setting new record high on a near daily basis for months now, nickel last saw a record high in its nickel stockpile on December 3rd at 407,646 tonnes. Nickel found support early this morning at $6.95/lb and has been recovering since, and technically speaking, has broken above a three day channel it was sliding in, which is sending a bullish signal. This is a short term signal however, and the overall trend remains negative until the down channel is broken on consecutive days. President Obama announced a new era in US and Cuba relations, and while the rest of the world wonders why it took so long, there is a small but vocal faction of Cuban ex-pats who are decrying the decision. We have a page of notes on the Cuba-US decades long beef, with notes on the nickel mine that has been in dispute since Castro's takeover (here).
  • Average price of cash nickel so far this month - $7.41/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Declines With Metals as Fed Decision Pushes Dollar Higher - more
  • Reuters metals morning - LME copper eases in step with oil - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.49
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SMM) Jinchuan Group reduced nickel ex-works prices further to 111,000 yuan per tonne on Dec. 18, Shanghai Metals Market learns.

    Venezuela restarts nickel output at asset taken over from Anglo - Venezuela has restarted production from the Loma de Niquel ferronickel asset it took from mining giant Anglo American in 2012 after cancelling its licences, data from an industry body showed this week. - more

    Negotiations on CR Austenitic Stainless Sheets Start Next Week for Feb Shipt - The Japanese stainless steel mills are expected to commence negotiations on cold-rolled (CR) austenitic stainless sheets for February shipment from next week. As the robust domestic demand has returned, they are in a stance to proceed with export negotiations selecting orders as in the past. - more

    Qingdao scandal casts a long shadow over metal markets: Andy Home - What will 2014 be remembered for in financial markets? - more

    Sherritt International stock soars on U.S.-Cuba deal, but still business as usual for Canadian firms in Cuba - In the short-term, the diplomatic breakthrough between the United States and Cuba changes very little for Sherritt International Corp. and the dozens of other Canadian companies active in Cuba. - more

    Poseidon Nickel is closer to Black Swan acquisition Join our daily free Newsletter - Poseidon Nickel is closer to the acquisition of the Black Swan Project in Western Australia from Norilsk Nickel with the receipt of Government and Environmental approvals. - 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 news and information free of charge. Contact us

Wednesday, December 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $7.25/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.25/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses came back with a vengeance on Tuesday, and after a large increase, started today just over the 406,850 tonne level. Nickel closed under the $16,000/tonne level yesterday and the psychological importance of that fact became obvious today, as the fall in prices picked up speed. Nickel is trading at $7.01/lb at the moment, which reminds us of a statement we made on Monday, when nickel was at $7.64/lb and stockpiles were in a slump. "Based on past years, we expect to see a slowdown in [inventory] growth during December, but this years slowdown is more dramatic than in the last few years, and could be evidence of nearing the supply/demand balance peak. If this proves true, we may have seen the last of nickel trading in the $6/lb range for awhile." Yes, yes, those of you who make your living selling stainless steel, owe us a huge debt of gratitude, as nickel traders are obviously trying to show us where to stick our crystal ball. Nickel is being caught up in a rush for the exits in commodities in general, with a lot of economic news coming from around the world making traders nervous. The strength in the US Dollar is also putting a drag on commodities. We show minor support at $6.95/lb, with major support at $6.65/lb. $15,430 will offer further psychological importance and may offer some support as well.
  • Average price of cash nickel so far this month - $7.44/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Extends Decline to Two-Year Low as Metals Fall Before Fed - more
  • Reuters metals morning - Copper drops on China output increase, Russia rouble woes - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.61
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Deutsche downgrades Glencore Xstrata but still sees value in mining sector - more
  • (Reuters) Russia's Norilsk Nickel , the world's largest nickel and palladium producer, plans to raise a $250-million loan from Unicredit bank, the company said on Wednesday.
  • (SSY) Daily crude steel output at China Iron and Steel Association (CISA) member mills rose to 1.749 Mt in the first 10 days of December, according to data from the industry association reported by SteelFirst.
  • (FAN) The European Union ordered its customs officials to register imports of Chinese and Taiwanese stainless steel, highlighting the threat of tariffs on the shipments.

    Nickel anticipates to be stable soon - Since the year 2005, nickel has been destructed as well as declining from the heights, the sudden and intense decline in the value of the metal, has caused massive closure of nickel mines, which in turn lead to large scale unemployment. - more

    Stainless Crude Steel Production by Major SUS Mills in October 287,192 Tons = Down by 5.7% from prior month, and JFE Chiba cuts production drastically = The stainless crude steel production by 6 major stainless steel mills in October 2014 was 287,192 tons, down by 5.7% from 304,514 tons of the prior month. - more

    China to scrap ferronickel, ferrochrome import taxes from Jan 1 - China plans to scrap import taxes on ferronickel and ferrochrome containing more than 4% carbon, starting January 1, 2015, according to a notice dated December 12, on the Chinese finance ministry website. - more

    Russia to follow Denmark with Arctic shelf claim in March 2015 - Russia will file a claim with the UN by the end of March 2015 to expand the boundaries of its continental shelf in the Arctic. Conflicting territorial claims with Denmark will be solved via bilateral talks, the Russian Government says. - more

    November Growth Continues the October Slowdown - Except for the continuing small decline in Canadian steel shipments, the growth in metals shipments was positive in November but at a slower pace than in October. - 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 news and information free of charge. Contact us

Tuesday, December 16

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Monday's trading session at $7.47/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.12/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and still total just under the 405,200 tonne level. Nickel is testing support today, after taking a sudden turn south yesterday afternoon. The fall has accelerated this morning on news that manufacturing in China may have contracted last month. Here is a quote from a Reuters article linked below "That would likely further hit domestic nickel pig iron (NPI) producers since many of these firms have already cut production this year on the back of weak domestic demand." Weak domestic demand? Aren't we being told nickel pig iron production is down in China due to the Indonesia ore export ban affecting their supply of ore? Really confusing isn't it? Oh well, for now, nickel prices are back to where they were trading in mid November.   
  • Average price of cash nickel so far this month - $7.45/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Nickel Falls With Lead as China Factory Data Shows Contraction - more
  • Reuters metals morning - Weak Chinese data sends aluminium to two-month low - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.68
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SMM) Jinchuan Group reduced its ex-works prices to 115,500 yuan per tonne on Dec. 16, down 2,000 yuan, Shanghai Metals Market learns.
  • New Caledonia government collapses - more
  • Tropical Pacific Ocean close to El Niño thresholds - more

    China’s Ferronickel Imports May Rise If Tariffs Lowered: Antaike -  China’s ferronickel imports may rise next year if the country lowers imports tariffs to incentivize inbound shipments, according to Beijing Antaike Information Development Co. - more

    Metals pack: What’s in store for Nickel in 2015? - Nickel prices skyrocketed during the first half of this year, with prices rebounding from the low of US$13,900/ton during January to test the highs of US$21,625/ton during May. - more

    LME Mo Price Reaches All-time Low in 16 Months = Due to oversupply in market and anticipation of China's easing of regulations = LME molybdenum price (cash seller and settlement) as of December 9 hovered at a low level of US$20,100 per ton (US$9.12 per lb). - more

    Nickel Outside Indonesia: Vietnam Steps Forward - Vietnam, which is known globally for its rich culture and tourism and not for its nascent mining industry, decides to step forward. - more

    China slashes coal export tariff as mining in crisis - (quote) The ministry said it would also scrap import taxes for both ferro-nickel and ferro-chrome, currently set at one percent. - more

    Courtesy AISI - In the week ending December 13, 2014, domestic raw steel production was 1,880,000 net tons while the capability utilization rate was 78.2 percent. Production was 1,788,000 net tons in the week ending December 13, 2013, while the capability utilization then was 74.6 percent. The current week production represents a 5.1 percent increase from the same period in the previous year. Production for the week ending December 13, 2014 is up 0.2 percent from the previous week ending December 13, 2014 when production was 1,877,000 net tons and the rate of capability utilization was 78.0 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 news and information free of charge. Contact us

Monday, December 15

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Friday's trading session at $7.53/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.11/lb higher, with other London traded base metals trading mostly higher as well. Stockpiles of nickel stored in LME approved warehouses continue to slump, and now total just shy of the 405,200 tonne level. Shanghai Metal Markets is reporting nickel ore stockpiles held at five of China;s largest ports fell by 199,000 tonnes over the last week to 14.72 million tonnes. Nickel rose on Friday, establishing $7.35/lb as support. Nickel is trading higher today on news that First Quantum has shut down operations at Ravensthorpe after experiencing a chemical spill. We are at the half way point of December, and stockpiles in LME warehouses are only 690 tonnes over where they began the month. Based on past years, we expect to see a slowdown in growth during December, but this years slowdown is more dramatic than in the last few years, and could be evidence of  nearing the supply/demand balance peak. If this proves true, we may have seen the last of nickel trading in the $6/lb range for awhile. 2015 has been built up with a lot of hype to be the year of nickel production shortages - thanks mostly in part that these forecasts did not prove true in 2014. Whatever happens, as long as the question remains, the market will remain volatile.
  • Average price of cash nickel so far this month - &.44/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Nickel Leads Industrial-Metals Increase After Plant Shutdown - more
  • Reuters metals morning - Nickel hits one-week high on worries over Philippine supply - more

  Reports

  • The Dig – Haywood Mining Team’s week in review - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SMM) Jinchuan Group increased its ex-works prices to 117,500 yuan per tonne on Dec. 15, up 2,500 yuan, Shanghai Metals Market learns.
  • (SSY) China's crude steel output fell 0.2% year-on-year in November to an 11-month low of 63.3 Mt, according to official data.
  • (MP) China nickel ore imports down 43.37pc in October 2014
  • Distributors, Manufacturers Feeling Pain over Port Dispute - more
  • (China) GDP to grow at 7.1% in 2015 - more

    First Quantum Minerals Reports a Failure in the Atmospheric Leach Tank at Its Ravensthorpe Nickel Operation - First Quantum Minerals Ltd. today reported that a structural failure has occurred to the atmospheric leach tank at its Ravensthorpe nickel operation in Western Australia. - more

  • First Quantum shuts Australia nickel plant after acid spill - Canada's First Quantum Minerals has shut its 38,000-tonnes-per-year Ravensthorpe nickel plant in Australia following an acid spill, which is under investigation. - more

    Ore Hauler Overturns on Upper Peninsula Road - Authorities say an ore-hauling tractor-trailer overturned after the driver swerved to avoid a deer on a two-lane Upper Peninsula road. - 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 news and information free of charge. Contact us

Thursday, December 11

    We will be traveling on Friday so our next update will be on Monday the 15th. Have a safe and relaxing weekend!

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $7.42/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 406,500 tonne level. We haven't set a new record high in LME nickel stockpiles for seven sessions now - which we haven't see a similar stretch since late June/early July. Nickel is looking for a floor
  • Average price of cash nickel so far this month - $7.46/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Advances Amid Speculation China Will Move to Stoke Growth - more
  • Reuters metals morning - Copper prices edge up on weak dollar, China demand in focus - more

  Reports

  • Damstahl Stainless Steel Report - December 2014 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.73
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (BNA) Glencore is considering the sale of its Araguaia nickel-cobalt project in Brazil, among other assets.
  • (SSY) The world export price for hot rolled band fell further at the start of December, dropping $8/t in the last two weeks to $504/t, according to the latest World Steel Dynamics Steelbenchmarker.
  • (CNN) "Every penny that gas prices decline puts about a billion dollars into Americans' pockets, according to Stephen Stanley, Chief Economist of Amherst Pierpont. Gas prices were 62 cents higher this time last year, so the U.S. is basically getting a $62 billion stimulus injection. To put it another way, each household is saving roughly $500. That's money people can use to buy other things or to save." - more
  • U.S. fastener imports of iron and steel fasteners (HTS Code: 7318) increased 3% month-to-month to $432,591,065 in October and exports grew 8% to $349,924,048. - more

    Nickel prices should increase, economist says - The grey wintry skies mirror the global economic outlook for 2015-16, says one of Canada's foremost economists. But the local economy should inch upwards over the next two years. - more

     Nickel hopes for an optimistic future - The abundance of nickel ore in the warehouse inventories, by the Chinese based nickel pig iron producers, and the flow of supply from the nickel mines, blocked the hike in the price of the metal, and further declined it below 14,000 dollars per tonne, in the beginning of the year, 2014. - more

    Asian Market of CR Austenitic Stainless Sheets Looks More Hopeful - Hopefulness has returned in the market of cold-rolled (CR) austenitic stainless steel sheets in the Asian region. - more

    Glencore sees global nickel market moving from surplus to deficit - The global nickel market is moving from surplus to deficit, Switzerland-based commodities giant Glencore said at its 2014 Investor Day in London. - more

    Glencore hunts for buyer to take on WA nickel mine  – Diversified miner Glencore this week confirmed its intentions to divest of the Cosmos nickel mine, in Western Australia. - more

    Tightening nickel affords opportunity for Asian Mineral Resources – Of the few base metals piquing analyst interest for 2015, zinc and nickel stand out. For nickel, supply was expected to tighten across next year, which should act as a price support. - more

    Roubini Global Sees Sub-$60 Iron Ore Amid Massive Surplus - Iron ore may drop to less than $60 a metric ton next year as the largest mining companies press on with raising supply, deepening a glut just as demand growth in China falters, according to Roubini Global Economics LLC. - more

    Few oligarchs can beat Russia’s weakening economy - Russia’s oligarchs are no strangers to misfortune, asset grabs, forced investments and financial crises. - more

   Investor Reports December 2014

  • Western Areas Corporate Presentation - pdf here
  • Glencore Investor Day - pdf here
  • Anglo American Investor Day - pdf here

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • 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 news and information free of charge. Contact us

Wednesday, December 10

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $7.51/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.04/lb lower, with other london traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday, but fell short of reaching a new record high - ending the day just over the 407,550 tonne level. Two more pieces of news today just have us scratching our heads. Please allow us to explain. We are being told that nickel prices will rise next year, courtesy of a ban of nickel ore by Indonesia. This happened in January and we are yet to see the affect on the global supply chain - but ok - let's pretend all the metal analysts are right and nickel prices will rise next year. If this is true, then it will be more profitable to be a nickel miner, right? And most companies, especially those answering to stockholders who only care about returns,  who know their potential profits will go up in the near future, will take measures to monopolize on this potential windfall. So, if the analysts are right, the nickel miners should be more profitable next year, right? If this is true, why has BHP put their nickel mines up for sale, Vale announced they might put theirs in another company, and now, Glencore and Anglo examining the option of selling theirs? Why are nickel mines suddenly something all of the big miners want to unload? And for those who say they might be taking of potential price increases to get a better price, we say bull. These miners didn't become the biggest in the world by thinking about tomorrow, but next year, and five years down the line. Unload your nickel mines today and it will just be more expensive to get back in to the market later. What do the nickel miners know that we aren't being told?
  • Average price of cash nickel so far this month - $7.46/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Leads Industrial Metals Lower on China Growth - more
  • Reuters metals morning - Copper falls as growing supply offsets China easing hopes - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.63
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) Daily crude steel production at China Iron and Steel Association (CISA) member mills rose to 1.713 Mt in the last 10 days of November, according to data from the industry association reported by SteelFirst. Mills are said to have returned to normal production levels after anti-pollution measures, put in place for the Asia-Pacific Economic Cooperation summit in Beijing contributed to daily output dropping to 1.635 Mt in the first 10 days of November.
  • Aluminum Leaving LME Seen by Jefferies Spurring More Volatility - more
  • The Small Business Optimism Index gained 2.0 points to 98.1, taking the Index to its highest level since February 2007. - more
  • 300 Million Years Old Screw Found in Russia - more

    Sherritt (T.S) bumps YTD production at Madagascar nickel and cobalt mine by 50% - Sherritt International found itself in a good-news bad-news scenario when the company released YTD and monthly production figures for the Ambatovy Joint Venture nickel and cobalt mine located in Madagascar. - more

    TVI affiliate looking to build Philippines' third nickel plant - A Philippine miner partly owned by Canada's TVI Pacific Inc is looking to build what could be the Southeast Asian country's third nickel processing plant ahead of a possible ban on exports of unprocessed ore, a Manila-based spokesman said. - more

    Glencore considering sale of some nickel and cobalt projects - Mining and trading firm Glencore said on Wednesday it is considering the sale of some nickel and cobalt projects amid lower prices as the company focuses on returning cash to shareholders. - more

    Outokumpu – Update on impact of the recent technical issues in Calvert and market development - As communicated earlier Outokumpu’s stainless steel mill in Calvert, Alabama, USA has experienced technical issues in all of its three cold rolling lines during the past six months. - more

    Hebei to move steel mills to coast in sector consolidation plan - A restructuring plan for the province will see steel production shifted to port zones in a bid to streamline operations and reduce pollution - more

    Mwana Africa Profit Lifted By More Nickel Sales At Higher Prices - Mwana Africa PLC Wednesday reported a rise in pretax profit in the first half of its financial year, driven by a significant increase in nickel production, which was sold at a higher price than last year, while saying it is focused on reducing costs to combat weak gold prices. - more

    Iron Ore Miners Battling Price Slump Halt Exports From India - Iron ore exports from India have halted as a global price slump and an increase in royalty fees made shipments unviable for miners battling high taxes levied on overseas sales. - more

     Anglo aims to shrink workforce by 60,000 - Anglo American plans to cut its global workforce by 60,000 people to 102,000 by 2017, with restructuring across its range of businesses and commodities as it seeks to drive up profits in a tough global market. - 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 news and information free of charge. Contact us

Tuesday, December 9

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Monday's trading session at $7.54/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.09/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell for a second consecutive day on Monday and now total just under the 406,250 tonne level. The Euro is trading much stronger this morning, but whatever support that is adding to base metals, is not apparent. Dismal import.export figures from China has markets around the world concerned, and lower base metals is reflecting other markets. Too early to say nickel has found a new ceiling, with the rainy season in the Philippines adding fundamental support, and the fact we have seen three declines in the last four days in LME warehouses, the first time we have seen that happen since July. That is more psychologically interesting than important, as current levels still remain well above the level we saw at the beginning of this month, just a few weeks ago. Cancelled warrants had jumped to near 26% last Friday, and have been falling since.   
  • Average price of cash nickel so far this month - $7.47/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Nickel Leads Industrial-Metals Declines on China Demand Concern - more
  • Reuters metals morning - Aluminum hits multi-month lows, others down on China worries - more

  Reports

  • EY Business risks facing the mining and metals sector - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • TVI's Philippine Affiliate JV Completes Third Shipment of Nickel Ore at Agata Project - more
  • Iron Ore Outlook Cut by JPMorgan as BHP, Rio Extend Retreat - more
  • NKY plant to add 15 jobs - more

    Victory for Yukon Wilderness Is "Game-Changer" - Environmentalists and indigenous people across northern Canada are celebrating a historic legal victory that protects one of the world's last major pristine river systems. - more

    Nickel and ferrochrome price rose 6 percent - Albanian Minerals President and CEO Sahit Muja said, "Nickel and ferrochrome sector had been energised in December as reserves are being depleted in China, Europe, U.S. and Japan.  - more

    Stainless steel consumption in Russia decreased by 2.7% - According to Spetsstal, the volume of stainless steel consumption in Russia over period from Jan till Sep 2014, compared to the equal time interval in 2013, decreased by 2.7% to 286.79 thousand tons. - more

    Courtesy AISI - In the week ending December 6, 2014, domestic raw steel production was 1,877,000 net tons while the capability utilization rate was 78.0 percent. Production was 1,788,000 net tons in the week ending December 6, 2013, while the capability utilization then was 74.6 percent. The current week production represents a 5.0 percent increase from the same period in the previous year. Production for the week ending December 6, 2014 is up 2.3 percent from the previous week ending November 29, 2014 when production was 1,835,000 net tons and the rate of capability utilization was 76.3 percent.

    Train Operators Who Allegedly Crashed Into Bear 'Just Wanted to Scare It' - Men accused of intentionally crashing the train they were driving into a bear last week in Krasnoyarsk told prosecutors that they only "wanted to scare" the animal, not to do it any harm, a news report said Monday. - 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 news and information free of charge. Contact us

Monday, December 8

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Friday's trading session at $7.63/lb . Indicators at 7:00 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 fell on Friday and begin the week just over the 406,400 tonne level. Shanghai Metal Markets report nickel ore stockpiles at 5 major Chinese ports slipped by 285,000 tonnes and now total 14.92 million tonnes. Stockpiles there have now fallen back to early September levels. Nickel is trading nearly $500 tonne lower than it was early Friday, with the bull taking a break. Time will tell if the bull has run out of gas, but one 2weekly poll we monitor overseas , has Chinese metal analysts predicting nickel prices will fall this week by a margin of 2 to 1.
  • Average price of cash nickel so far this month - $7.47/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 -
  • Reuters metals morning - Copper dips after weak China trade data, Italy downgrade - more

  Reports

  • The Dig – Haywood Mining Team’s week in review - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.42
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) Chinese iron ore imports fell to 9-month low of 67.4 Mt in November, down 10.4 Mt year-on-year, according to preliminary data from China Customs. However, combined iron ore imports for January-November are still around 100 Mt higher than for the same period in 2013.
  • (MP) Chinese refined nickel output up 13.58pc in Jan-Nov
  • Final PolyMet EIS expected to be completed in 2014 - more
  • Tata Steel project displaced reject revised R&R offer - more
  • BHP Billiton names spin-off company South32 - more
  • Record China trade surplus exposes fragile domestic demand - more

    China metals imports seen weak in H1 on low 2015 term shipments - Chinese imports of copper, zinc and nickel will be restrained in the first six months of 2015 by tight credit, trading sources and analysts said, with buyers taking fewer term shipments and turning to stocks in bonded warehouses. - more

    Vale to consider base metals IPO only if nickel rallies - A possible public listing of a stake in the base metals unit of Brazil's Vale SA hinges on a rally in nickel prices of around 20 percent, its chief financial officer said on Friday. - more

    Commodity Benchmarks Seen Open to Manipulation, Law Firm Says - Almost two-thirds of commodity market participants say that benchmarks used to set the price of everything from crude oil to ethanol to zinc are vulnerable to manipulation, according to a new study. - more

    London Metal Exchange trims fee increase after complaints - The London Metal Exchange (LME) on Friday trimmed a proposed average increase in transaction fees to 31 percent from 34 percent after complaints by members. - more

    Year-End Update on Copper and Nickel - It’s not looking good for copper as the year draws to a close. The Organization of the Petroleum Exporting Countries (OPEC) has decided not to intervene in the surplus of crude oil, thus affecting the prices of base metals in the market. - more

    LME Ni Ave. Price in Nov. on Weak Note, Unchanged from Prior Month = It makes V-shaped recovery during month but softens at end of month. End-of month inventory is 404,000 tons = LME monthly average price in November 2014 was Cash seller: US$15,706.25 per ton (US$7.124 per lb) and 3-month seller: US$15,779.00 per ton (US$7.157 per lb). - more

    UN calls for halt to new mines in PNG until better polices and practices put in place - The United Nations is urging for a cautious and planned approach to new foreign investments, following the Prime Minister’s invitation to overseas investors at this week’s PNG Mining and Petroleum Investment Conference. - 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 news and information free of charge. Contact us

Friday, December 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Thursday's trading session at $7.76/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading mixed and quietly. Stockpile of nickel stored in LME approved warehouses rose on Thursday, but not enough to surpass Tuesday's record. Stockpiles now total just over the 407,350 tonne level. While the last hour has seen nickel prices fall off their highs, the bull run got an extra boost late yesterday afternoon, when the price of traded nickel jumped over October highs. The reason is fairly simple. Traders are speculating that record nickel stockpiles will begin to fall sharply next year, as the bite from the January 2014 Indonesia nickel ore export ban, starts to show signs of taking a bite. This same speculation took place earlier this year, but finally ran out of gas when the effect was muted by stainless steel production in China not meeting growth estimates.  So has something changed to justify this newest bull run. Not really, but we are closer to the beginning of next year which means we are getting closer to the so called 'year of doom and gloom'. Will stockpiles fall next year? Probably. Eventually, the Indonesia ore ban will start to bite and we don't see the Philippines production making up for all of the loss. But, and this is a huge but, in the up and down, boom and bust cycle of nickel production, we are in the boom part of the cycle, which explains how we can see one of the largest sources of nickel in the world dry up, but stockpiled nickel totals continue to rise - nearly a year later. The market typically finds a way to cover these shortcomings and while this is a big loss - the market is finding a way, and may continue to do so well into 2015. And another point, that we like to point out, but few like to admit. The Chinese are incredibly resourceful and have a history of finding a way of solving problems. This whole nickel ore discussion, that is supposedly changing the way the market looks at nickel, didn't even exist a decade ago. The Chinese figured out a way of taking nickel miners were mostly throwing away as low content scrap rock and figured out a way of turning it into nickel. Most said they couldn't do it - and many of those same people are now saying it will dry up. Time will tell. Enjoy your weekend!  
  • Average price of cash nickel so far this month - $7.43/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - London nickel eyes 6 pct weekly gain as China ore prices rise - more
  • Reuters metals morning - Nickel rises to two-month high on ore scarcity fears - more

  Reports

  • INSG Insight Issue No. 24, November 2014 - "Nickel in Emerging Technologies" - pdf here
  • Nickel Magazine - Dec 2014 Issue - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.38
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SO) January-October period of this year, Russia's stainless steel product output decreased by 19.8 percent year on year.
  • (FD) Mount Gibson Iron will slash the majority of its Koolan Island workforce as it cuts production targets and flags writedowns amid iron ore price weakness.
  • It’s official: America is now No. 2 - more

    Platts podcast - What's next for nickel prices after the boom and crash in 2014? - more

    LME Ni Ave. Price in Nov. on Weak Note, Unchanged from Prior Month = It makes V-shaped recovery during month but softens at end of month. End-of month inventory is 404,000 tons = LME monthly average price in November 2014 was <> Cash seller: US$15,706.25 per ton (US$7.124 per lb) and <> 3-month seller: US$15,779.00 per ton (US$7.157 per lb). - more

    China: Price of iron ore and ferrochrome increased - Today China’s stocks rose, with the nation’s benchmark index extending to three year highs, after new report that China's services trade improved and investors bet the central bank will ease monetary policy to support the economy. - more

    Japan unlikely to file complaint on ore-export ban with WTO - Japan is unlikely to move forward with its plan to challenge Indonesia’s mineral-ore export ban through the World Trade Organization (WTO) as both parties may have reached an agreement on how to solve the issue, officials have said. - more

    China ferrochrome: Domestic prices inch higher on tight supply - Domestic spot prices of 50% Cr Chinese high-carbon ferrochrome inched higher to Yuan 6,350-6,450/mt (equivalent to 78.5-79.5 cents/lb) on Wednesday, December 3, from Yuan 6,300-6,450/mt a week ago, on the back of tight supply. - more

    Is the nickel re-rating set to continue? ASX Nickel Plays - Nickel has been a stand-out commodity performer in 2014, rising by around 22% - which includes a 3.2% jump overnight to $17,120 a ton on the London Metal Exchange. - more

    Govt plans new mining tax system - Zimbabwe plans to introduce a new mining tax regime targeted at plugging mineral and revenue leakages as well as attract investors into the extractive sector. - more

    Patrice Motsepe’s Mining Firm Could See Profit Dip 45% This Year - JSE-listed diversified mining firm, African Rainbow Minerals (ARM), this week said headline earnings for the six months ended 31 December this year are likely to be 45 percent less than those of the previous comparable period. - more

    Vale base metals IPO could prove to be a Bay Street bonanza - Brazilian mining giant Vale's plan to sell a stake in its base metals unit through a Toronto Stock Exchange listing could lead to the biggest IPO in Canadian history and a windfall in fees on Bay Street. - more

    A train driver who deliberately ran over a bear investigated in Siberia - Prosecutors studying video evidence of men shouting 'squash him!' seconds before impact with animal on track. - 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 news and information free of charge. Contact us

Thursday, December 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $7.53/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.13/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored ni LME approved warehouses took a break from breaking records on a daily basis and started the day just under the 407,000 tonne level. We were wrong yesterday when we said 'based on initial reaction the market has accepted that this [Indonesia ore] ban is not going to magically change in that country anytime soon'.  The bull run rejuvenates itself yesterday on the Indonesia court news, with rumors hitting the market that nickel sales has picked up in China recently adding some optimism. There is also a very strong and nasty typhoon aimed at the Philippines, which could potentially disrupt nickel shipments from that country. And after fifteen consecutive days of inventory gains in LME warehouses, we saw a rare decline in stockpile numbers today. Chicken Little is so excited today, he can hardly control himself.  And stainless steel producers wonder if this run has room to run and should they buy, or will it run out of gas right after their PO is accepted.
  • Average price of cash nickel so far this month - $7.36/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 on U.S. Jobs, Mongolia Mine as Nickel Extends Gains - more
  • Reuters metals morning - Copper rises as oil recovers, China uncertainty caps gain - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.13
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    Australian company a step closer to Solomons mine - Taho Village sits on the southern shore of Santa Isobel, an idyllic picture postcard vision of South Pacific paradise. - more

    China's 2015 steel demand estimated at 720m tons - China's steel industry continues battling overcapacity as demand for 2015 is estimated at 720 million tons with a slower year-on-year growth of 1.4 percent an industry report said on Wednesday. - more

   China Nickel Conference May 21-22, 2014 presentations

  • Tom Price - UBS - The global nickel market - new developments & market outlook - pdf here
  • Tony Wenas - Indonesian Mining Association - Nickel in Indonesia - Latest update - pdf here
  • Ian Roper - CLSA - The future of NPI - Where next without Indonesia ores? - more

    Iron ore demand forecast to stay steady in 2015 - Iron ore imports are expected to grow 6.4 percent year-on-year to around 1 billion metric tons in China during 2015, driven largely by lower commodity prices and growth in domestic demand, industry experts said on Wednesday. - more

    Investors wary of valuation for Vale's metals unit spinoff – Brazil's Vale will face a hard task convincing skeptical investors that rising nickel prices and a better performance justify a high valuation for its long-troubled base-metals division. - 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 news and information free of charge. Contact us

Wednesday, December 3

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $7.39/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.05/lb higher, with other London traded base metals trading lower. Stockpiles of nickel stored in LME approved warehouses rose to another new record high on Tuesday and now totals 407,646 tonnes. Short term trend for nickel remains neutral and much of the daily up and down movement in trading is merely fluff. The courts in Indonesia stated that their government does have the right to ban nickel ore exports, and based on its initial reaction, the market has accepted that this ban is not going to magically change in that country anytime soon. Vale has joined in BHP in discussing the option of selling all, or a part of, its base metals division. Nickel apparently hasn't got the memo yet, but analysts, and apparently the worlds large miners, are in agreement that the over decade long bull run is over.
  • Average price of cash nickel so far this month - $7.34/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Zinc Swings as Investors Weigh Dollar Against Auto Sales - more
  • Reuters metals morning - Copper slips on dollar strength, demand uncertainty - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.00
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Nickel Analysis and Forecast Q3 2014 - more
  • Non-ferrous metal industry, a highlight of Inner Mongolia - more
  • Citigroup Panicked Over Fraud at Chinese Ports: Mercuria - more

    Subdued Stainless Steel Market To Persist Into New Year - Worldwide stainless steel sales activity and prices are going through a subdued phase at present, according to MEPS - more

    Constitutional Court in Indonesia Upholds Ore Shipment Ban - Indonesia’s Constitutional Court upheld today the country’s ban on exports of raw mineral ores imposed in January, rejecting a challenge from mining companies. - more

    The Philippines’ nickel heats up with Chinese demand - Unprecedented levels of Chinese demand for nickel ore has created a sizeable market opening for the Philippines to expand nickel exports, prompting the country to re-examine the underdeveloped minerals industry and maximize output amid a dearth of supplies in the region.- more

    Brazil's Vale says mulling spinoff of base metals unit stake - Brazil's Vale SA said on Thursday it is considering the sale of a minority stake in its base metals unit in an initial public offering, as it looks to raise funds for key projects in the midst of sliding commodity prices. - more

    Japanese mining giant threatened aid cut in bid to win Solomon Islands deal - A mining giant financed by the Japanese government threatened to have foreign aid withdrawn from the Solomon Islands in a campaign to win rights to a lucrative nickel deposit. - more

    Energy crisis in South Africa to affect ferrochrome and metal prices - The price of ferrochrome and chrome ore is expected to go up 10% in 2015  - more

    Could Inco rise again? - The name Inco could return as Brazil's Vale SA said Thursday it is considering the sale of a minority stake in its base metals unit -- which includes the company's Sudbury operations -- in an initial public offering. - more

    Courtesy AISI - In the week ending November 29, 2014, domestic raw steel production was 1,835,000 net tons while the capability utilization rate was 76.3 percent. Production was 1,826,000 net tons in the week ending November 29, 2013, while the capability utilization then was 76.2 percent. The current week production represents a 0.5 percent increase from the same period in the previous year. Production for the week ending November 29, 2014 is down 2.5 percent from the previous week ending November 22, 2014 when production was 1,882,000 net tons and the rate of capability utilization was 78.2 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 news and information free of charge. Contact us

Tuesday, December 2

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Monday's trading session at $7.40/lb . Indicators at 6:40 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 approved warehouses rose to another record high yesterday, and now total 405,570 tonnes. One year ago today, LME stockpiles of nickel stood at 252,126 tonnes. Nickel is trading lower this morning with a weaker Euro adding negative pressure. The short term trend remains neutral to slightly positive, with November's bullish run falling into trouble the final week of the month. We are entering the final month of the year, and for the next 6 weeks, traders will closely monitor metal analysts pricing forecasts. Citi issued a forecast yesterday for nickel to average $9.81/lb next year, with many more to come. While we like to pick on metal analysts and their sometimes deeply flawed crystal balls, trying to forecast a price for a metal is much more difficult than it used to be and little more than a guess. While analysts had things like supply and demand figures to consider in the past, these factors mean far less anymore, and funds invest billions of our retirement money and banks gamble for investor approval for their own reasons. You can respect their reasoning and agree with their observations, but when it comes right down to it, its a crap shoot.
  • Average price of cash nickel so far this month - $2.81/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 in London Declines on Oil, China Manufacturing Weakness - more
  • Reuters metals morning - Copper falls on uncertainty over China, Europe; oil losses - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Chart of the day: China’s cyclical slowdown - more
  • Citi Research forecast s2015 average London Metal Exchange nickel prices at $21,625 a tonne [$9.81/lb]
  • Port Hedland Iron Ore Shipments to China Drop to Seven-Month Low - more
  • El Niño-like impacts emerge in a number of areas - more

    North American Stainless Press Release - For the month of December 2014, North American Stainless will maintain the fuel surcharge at 31% for stainless flat and long products. The surcharge rate is considered a maximum level for December and will be reviewed monthly.

    Molybdenum production and use increase - Global use of molybdenum in the second quarter of 2014 increased to 139.9 million pounds, up 3% from 136.1 million pounds in the previous quarter and 4% higher than the same quarter in 2013, figures released today by the International Molybdenum Association (IMOA) show. - more

    Brazil's Vale mulling IPO for part of base metals business - sources - Brazil's Vale SA is considering listing part of its global base metals business, two sources with knowledge of the matter said on Monday, as the miner looks to fund capital projects amid a collapse in iron ore prices. - more

    Miners 'covering their eyes' as China commodity cliff looms - After spending $1 trillion since 2002 on projects to feed China's commodity boom, the world's mining companies have a lot riding on their biggest customer. - more

    Joyas International to diversify into nickel trading - Joyas International Holdings, a Hong Kong-based company that makes metal gifts and jewellery products, is seeking to diversify into the nickel distribution and trading business. - more

    UCS Ship Spare Parts Market Report - (quote) Between 2014 and 2016, the world dry bulk fleet is projected to grow by up to 126m dwt, while demand is expected rise by just 95m dwt. Chinese iron ore imports are holding up, coal imports are down, while bauxite and nickel ore have fallen off a cliff. Buyer interest is softening in dry bulk. - more

    Documentary maker to put spotlight on New Caledonia - The maker of a documentary that explores conflicts surrounding nickel mining in New Caledonia says he hopes it shows the complexity of the independence issue. - 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 news and information free of charge. Contact us

Monday, December 1

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Friday's trading session at $7.34/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.07/lb higher, with other London traded base metals trading lower. Stockpiles of nickel stored in LME approved warehouses continues its daily rise into record territory, with 404,766 tonnes the newest record high. Shanghai Metals Market reports stockpiles of nickel ore at the 5 major ports in China fell 158,000 tonnes to 15.20 million tonnes. This is the third consecutive fall in port stockpiles and 473,000 tonnes of November's high. Reports from Colombia dispute Bloomberg's report last week that a potential strike at Cerro Matoso mine there had been cancelled. The average price of nickel ended November around a nickel lower than October, and the China industrial PMI came in at 50.5, down from 50.8 the prior month.  
  • Average price of cash nickel so far this month - $7.10/lb (Nov)
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Commodities Retreat to Five-Year Low as Oil Tumbles With Copper - more
  • Reuters metals morning - Copper drops to 4-1/2 year low on oil prices, China data - more

  Reports

  • Steel Founders' Society Of America November 2014 Casteel Reporter - pdf here
  • The Dig – Haywood Mining Team’s week in review - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.02
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (AM) Chinese refined nickel and nickel alloy imports down by 48.2% MOM in October
  • Indonesia should halt tin shipments: Governor - more
  • Thin turnover expected in debut for HKEx metal contracts - more
  • China's slowdown hits iron-ore prices - more
  • China's official manufacturing PMI wanes - more

    The 2015 Metals Outlook Series: Nickel - The story of nickel is finally one of stability. Since 2005 the metal has been wracked by skyrocketing highs and sharp declines that have caused massive job losses and uncertainty that has seen an exodus from the sector by many of the larger players. - more

    Strike still planned at BHP Billiton's Cerro Matoso nickel mine - Workers at BHP Billiton Ltd.'s Cerro Matoso nickel mine in Colombia say their plans to hold a strike continue, but they are waiting for a declaration from the Labor Ministry to support its legality, according to a union leader. - more

    Glencore, Merafe Sign Union Agreement to End Ferrochrome Strike - Glencore Plc and Merafe Resources Ltd. reached an agreement with the National Union of Metalworkers of South Africa to end a pay strike at the world’s largest ferrochrome operation. - more

    Steel makes our world a better place - How does steel make the world a better place? worldsteel’s latest video tells you all you need to know about one of the world’s most versatile materials in under three minutes. - 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 news 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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