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page is archived news covering the period of December 2014
If you are looking for current daily market news, please visit
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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
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)
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
(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.
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)
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
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)
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
(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)
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
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)
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
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)
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
(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)
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
(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)
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
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)
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
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)
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
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)
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
(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
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
(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)
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
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)
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
(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)
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
(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.
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)
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
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)
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
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)
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
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)
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
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)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
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)
. 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
(
Reports
Commodity/Economic Comments
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. -
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. -
Morning Nickel
Price Statistics & Figures
Our favorite
holiday video -
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.
-
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. -
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. -
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. -
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. -
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. -
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. -
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.06/lb
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.
-
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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.
-
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. -
