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Thursday, December 28
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.49/lb. Indicators
at 6:25 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just under the 370,850 tonne level. The LME stockpile numbers are now lower
than they were on the first day of the year, and only 1,104 tonnes higher
than the 2017 low of January 16. Nickel bounced overnight, erasing yesterday's
loss and adding to the most recent bullish run. Technical indicators remain
positive, and while slumping Chinese steel futures are adding negative pressure,
a strengthening Euro is adding positive momentum. As this is our last update
for the week, month and year, we want to take this opportunity to thank our
readers for spending 2017 with us and invite you back . We also wish each
of you has a safe and eventful weekend and that 2018 brings you health, wealth,
and happiness.
Average price of cash nickel so far this month - $5.13/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Copper rallies to three-year high as China plant halts output -
more
Asian Stocks Near a Record High, Dollar Declines: Markets Wrap -
more
(Wednesday review) China imports help fuel copper's ascent to four-year
high - Copper prices soared to four-year peaks on Wednesday after a jump
in China’s imports of the metal in November boosted expectations of
stronger demand from the top consumer. -
more
NSSC
Raises Prices of CR Austenitic, Ferritic Stainless Wire Rods = For distributors'
contracts of December 2017-February 2018 (rolling in January-March 2018)
= Nippon Steel & Sumikin Stainless Steel (NSSC) released on 21st its
domestic prices of stainless steel wire rods for distributors for contracts
of December 2017-February 2018 (rolling in January-March 2018). -
more
Miners
Invest $5b in Indonesia Nickel Smelters in First 10 Months - Thirteen mining
companies have invested a combined $5.03 billion in the construction of nickel
smelters during the first 10 months of this year to comply with Indonesian
government requirements, an official at the Ministry of Energy and Mineral
Resources said. -
more
China
extends tax rebate for electric cars, hybrids - China will extend a tax rebate
on purchases of so-called new-energy vehicles (NEV) until the end of 2020,
a boost for hybrid and electric car makers amid a shift by policy-makers
away from the traditional internal combustion engine. -
more
Norilsk
Nickel to finance social projects in three Russian regions - Russia’s
leading mining and metallurgical company Norilsk Nickel (Nornickel) announced
winners of a competition among social projects, organized under its charity
program World of New Opportunities. . -
more
Glencore and other miners entreat Congo to rethink damaging
new laws - Mining companies in the Democratic Republic of Congo have urged
legislators to rethink new legislation that could lead to acrimony between
the government and the industry. -
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 27
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.50/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.08/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Thursday and fell on
Friday and start the last week of 2017 just over the 372,250 tonne level.
Stockpiles are now only ahead of 2017's first day by 192 tonnes, and thus
it appears traders will pull off a deficit for the year. Nickel saw a decent
little jump Friday morning, but this morning traders have cast a wary eye
toward China, as steel prices there continue to flounder. We suspect markets
will remain somewhat subdued this week, as traders square their books. However,
last year, nickel fell from $5.00/lb to near $4.50/lb over the last 10 days
of that year, so we could be proven wrong easily. Industry news remains quiet.
Technicals remain positive, with resistance at $5.55/lb and the 10 day MVA
back above the 30 and 100 day.
Average price of cash nickel so far this month - $5.12/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Steel Imports Up 18% Year To Date Through November -
more
China to remain the main game for global commodity demand: Russell -
more
Reuters - Indonesia's Nickel Ore Exports At 3 Mln T As Of Nov - Mining Ministry
Stocks Struggle as Tech Shares Fall; Dollar Slides: Markets Wrap -
more
China
Monday wrapup - Shanghai nickel falls alongside steel - Shanghai nickel closed
nearly 1 percent lower on Tuesday after declining as much as 2.6 percent
in early trade, with prices dampened by waning demand for steel. -
more
LME
Friday wrapup - Copper hits 2-month high on global growth hopes, aluminium
rallies - Copper hit a two-month high in thin pre-holiday trading on Friday,
closing out the week with gains of more than 3 percent on signs of strong
growth globally, while aluminium hit a seven-week peak on falling output
in top producer China. -
more
Odisha:
Tata’s ferrochrome unit to resume production in January amid staff stir
- Even as agitation by its employees over non-payment of salaries continues,
Tata Steel’s ferro chrome plant (FCP) at Chhatrapur within Chamakhandi
police limits in Ganjam district is likely to resume production from January
next year. -
more
Sumitomo Metal Mining to Take Part in Chromite Recovery Business =
By-product of Taganito HPAL Nickel, Philippines = On December 19, Sumitomo
Metal Mining Co., Ltd. (SMM) announced its plan to take part in the recovery
business of chromite as raw materials mainly for stainless steel. -
more
Global
steel’s ‘China’ problem - While global steel production has
increased in November, analysts see steel output from China reclining. This
comes as a result of cut down on steel production in order to reduce choking
pollution and smog the country is engulfed in. Environment is the cost China
has been paying for massive industrialization. -
more
Courtesy
AISI - In the week ending on December 23, 2017, domestic raw steel production
was 1,718,000 net tons while the capability utilization rate was 73.7 percent.
Production was 1,607,000 net tons in the week ending December 23, 2016 while
the capability utilization then was 67.8 percent. The current week production
represents a 6.9 percent increase from the same period in the previous year.
Production for the week ending December 23, 2017 is up 1.2 percent from the
previous week ending December 16, 2017 when production was 1,698,000 net
tons and the rate of capability utilization was 72.8 percent. -
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 21
The London Exchange is closed Monday and Tuesday
for the holidays, so our next update will be on Wednesday, December 27.We wish our readers the happiest and safest of holidays.
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.46/lb
. Indicators
at 7:10 am CST today show 3 month nickel trading
unchanged. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just over the 373,400 tonne level. Allegheny published January surcharges
yesterday and we are still waiting to see the others. Surcharges dropped
sharply. For example, 304 will drop from $.6191/lb to $.558/lb, while 316
drops from $.8054/lb to $.746/lb. Having punched thru the $12,000/tonne level
again, nickel is hesitating today. Technical signals remain positive. Heading
into a long weekend, we could see traders look to solidify this trading level.
Average price of cash nickel so far this month - $5.07/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Value of top 50 mining companies surge $140 billion in 2017 -
more
November Steel, Aluminum Shipments Grow in U.S., Slow in Canada -
more
Bonds Tumble, Equities Mixed as Tax Bill Passes: Markets Wrap
(Wednesday review) - Copper hits two-month high above $7,000/t on weak
dollar, growth hopes - Copper hit a two-month high on Wednesday as the dollar
fell and investors remained upbeat about global growth prospects as a U.S.
tax overhaul neared completion and China’s economy remained on a firm
footing. -
more
Stainless Steel Production Reached 36.1 Million Tons In The First None
Months of 2017 - The International Stainless Steel Forum (ISSF) has released
figures for the first nine months of 2017 showing that stainless steel melt
shop production increased by 7.4% year–on–year to 36.1 million
metric tons. -
more
China's
Yinchuan names 27 metal producers told to shut for winter - Yinchuan in northwest
China's Ningxia Hui Autonomous Region, a key magnesium and ferroalloy production
base, has released a list of metal producers asked to shut from November
27 to March 10 to cut emissions, the Yinchuan branch of the Ministry of Industry
and Information Technology said Tuesday. -
more
China’s Influence on the Global Steel Sector Persists - The actions
taken in China continue to influence the global steel market. Following capacity
cuts earlier in the year, the Chinese authorities recently announced the
latest round of production restrictions, from mid-November to mid-March,
in an attempt to reduce pollution during the winter. -
more
Nickel Asia, unit not giving up mining on Manicani - Executives of
Nickel Asia Corp. (NAC) and subsidiary Hinatuan Mining Corp. said they are
not giving up mining on Manicani Island. -
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 20
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.33/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.09/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose on Tuesday and now total
just over the 374,900 tonne level. After doing little yesterday, nickel is
trading on the positive side this morning, as technicals send strong buy
signals, and traders prepare for a long weekend break. Nickel closed 2016
at $4.55/lb, and is today trading around $1750/tonne higher. Whatever happens
in the next few days, nickel has had a good year. Apparently the bulls want
to make it just a little bit better.
Average price of cash nickel so far this month - $5.05/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) China’s stainless steel output reached 2.15 million mt in November,
down 1.5% from October.
(Tweet) Goldman says "our 3/6/12-month nickel price forecasts are
$12,500/12,000/11,000/t, annual average forecast is $11,500/t for 2018, 9%
higher than 2017"
Stocks Struggle as Tax Factor Fades; Bonds Steady: Markets Wrap -
more
(Tuesday review) Prospect of slower supply growth helps aluminium to
3-week peak - Aluminium prices touched a three-week peak on Tuesday as the
prospect of slower supply growth from top producer China prompted investors
to buy, but the likelihood of a surplus next year capped gains. -
more
Price
of HC FeCr in China Stops Dropping and Rebounds = Electricity rate goes up
in Sichuan = The price of high-carbon ferro-chrome in the Chinese domestic
market showed a downward trend after passing a peak at the end of August,
and continued a slight drop until the end of November, but stopped dropping
at last in early December, and currently begins to rebound slightly. -
more
China
to remain the main game for global commodity demand: Russell - China strode
like a colossus over major commodity markets in 2017, as the world’s
biggest buyer of natural resources made its presence felt on demand for coal,
iron ore, crude oil and liquefied natural gas (LNG). -
more
EU
Steel Price Revival Expected in Early 2018 - Strip mill product basis prices
were stable in most northern European markets, in December, according to
the latest edition of MEPS European Steel Review. -
more
Israel proposing replacement standards on nickel skin contact - Israel has
notified the WTO of draft proposals to replace its standard on nickel release
coming into contact with human skin with two new standards. -
more
Zim
Alloys Hires 300 Workers - Gweru-based giant ferrochrome producer, Zimbabwe
Alloys, which is under judicial management by Grant Thornton International,
has recruited 300 employees to enable operationalisation of the company.
-
more
State
predicts PolyMet would need $1B to cover risks from copper-nickel mine -
The closed LTV Steel taconite plant sits idle near Hoyt Lakes, Minn. The
site, which closed in 2001, may return to life as part of Minnesota's first
copper-nickel mine, owned by PolyMet Mining Corp. -
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 19
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.37/lb. Indicators
at 6:15 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Monday and now total
just over the374,500 tonne level. Nickel's increase over the past few days
has successfully pushed the metal out of its December trading channel, which
has helped turned technicals positive. On the fundamental side, China's decision
to lower export tariffs that we reported yesterday, is helping bulls predict
steel demand from their could increase, and thus helping nickel's demand
potential. While this is all potentially positive, we think the news that
got traders excited yesterday, was Toyota's announcement that they planned
to convert their entire automobile production from fossil fuel to either
electric or hybrid by 2025. This, with General Motors October announcement,
that they foresaw an entirely electric car future, is putting the demand
for nickel and cobalt laden batteries back into the news.
Average price of cash nickel so far this month - $5.02/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel
hits three-week high, China demand seen solid - Nickel hit three-week peaks
on Monday after China boosted expectations of higher demand by pledging to
cut export taxes on some steel products, but sizeable inventories capped
gains.
-
more
Nickel
Outlook 2018: Price Gains and Growing Battery Boom - What's in store for
nickel in 2018? Experts share their nickel outlook, pointing to price improvement
and increasing demand from the battery space. -
more
China
Steel Output Climbs Despite Capacity Cuts - Despite two years of cuts, China's
steel industry remains stuck in a trap of high production and pollution,
leading to environmental damage at home and trade conflicts abroad. -
more
China's steel export price hits near four-year high -
more
Horizonte
Minerals to Buy Vale SA's Vermelho Project in Brazil for $8 Million - Horizonte
Minerals PLC said Tuesday that it has agreed to buy the Vermelho nickel-cobalt
project in Brazil from Vale SA for $8 million. -
more
Courtesy
AISI - In the week ending on December 16, 2017, domestic raw steel production
was 1,698,000 net tons while the capability utilization rate was 72.8 percent.
Production was 1,607,000 net tons in the week ending December 16, 2016 while
the capability utilization then was 67.8 percent. The current week production
represents a 5.7 percent increase from the same period in the previous year.
Production for the week ending December 16, 2017 is up 1.6 percent from the
previous week ending December 9, 2017 when production was 1,672,000 net tons
and the rate of capability utilization was 71.7 percent. -
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 18
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.25/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
started the week just over the 373,300 tonne level. Nickel saw a $300/tonne
spike on Friday and has done little since. Technicals are mostly positive.
Stockpiles are getting interesting with only two weeks left in 2017. We started
the year at 372,066 tonnes and climbed as high as 389,154 tonnes, hit on
August 31st. Today after a very slow and gradual decline, we are only 1,248
tonnes to the positive. We have seen four days this month, where the daily
decline exceeded that difference, so it is becoming highly likely we will
actually end the year with a deficit in LME stockpile numbers. That isn't
a major earth shattering news flash, but it's late December, and industry
news is really hard to come by, so we tried. Here is your holiday schedule
for the London Metal Exchange. They trade all this week, with normal trading
hours each day. They are closed on Christmas and the day after (called
Boxing Day). They are then closed on New Years Day.
Average price of cash nickel so far this month - $5.01/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
SMM - Global nickel supply shortage has widened to 9,700 mt in October, according
to data released by the International Nickel Study Group (INSG) on Thursday.
Stocks Gain on U.S. Tax Plan; Treasuries Decline: Markets Wrap -
more
(Friday review) Copper hits 3-week high, boosted by buying on Wall
Street - Copper prices scaled three-week highs on Friday after the New York
open and as expectations of strong demand in top consumer China were reinforced
by data showing firm industrial activity. -
more
High
flying metals to fall back to earth in 2018 - Gold's looks like it's limping
to the finish line with a $100 decline from it's 2017 high hit three months
ago, but bullion bulls would probably feel happy about a second year of near
double digit gains (provided the last fortnight of 2017 has no surprises
in store). -
more
Nickel
West smelter milestone defies gloomy predictions - BHP Nickel West sees a
positive future for the 45-year-old Kalgoorlie Nickel Smelter after it hit
a major milestone despite trying conditions in the global nickel market,
producing the facility’s three millionth tonne last week. -
more
This is how much copper, nickel, cobalt an electric vehicle world needs
- Glencore's investor day on Tuesday painted a positive picture not just
of the Swiss miner and commodities trader's business but also had good news
for the mining industry as a whole. -
more
China
will cut export tariffs on some steel, fertilizer products, says Ministry
of Finance - China will cut export taxes on some steel products and fertilizers
and ditch those for sales abroad of steel wire, rods and bars from January
1, the Ministry of Finance said, in a series of measures that could boost
shipments. -
more
RNC
raises funding to support WA nickel ramp up - TSX-listed RNC Minerals has
restructured a loan and raised additional funds to support the nickel ramp-up
at its Western Australia-based Beta Hunt mine, where it aims to double production
to four-million pounds next year. -
more
China steel
demand strong as November output falls: Commerzbank - Lower November Chinese
steel production than prior months and low monthly steel export volumes still
highlight stronger demand fundamentals in the world's biggest steel market,
Commerzbank said Friday. -
more
China's steel export price hits near four-year high -
more
Chile's
Molybdenum Production in October 2017 Is 5,284.3 Tons = Up by 2% from
year-earlier month and up by 9% from prior month = According to Ministerio
de Mineria of Chile, the production volume of molybdenum (in pure Mo equivalent)
in October 2017 was 5,284.3 tons, up by 2.1% from 5,175.4 tons in the
year-earlier month and up by 9.4% from 4,829.8 tons in the prior month. -
more
Natixis
bank broadens metals fraud lawsuit, targets Glencore unit - French bank Natixis
has broadened its $32 million (£24 billion) lawsuit over fraudulent
receipts for nickel stored at warehouses in Asia by adding a unit of commodities
giant Glencore as a defendant, a court filing showed. -
more
Myrup
nickel sulphate plant sparks concerns - Although only in the definitive
feasibility study phase of its development, Alpha Fine Chemicals’
theoretical nickel sulphate plant plan in Myrup has provoked a passionate
response from landholders in the vicinity of the proposed site. -
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 14
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.03/lb. Indicators at
6:00 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just under the 376,900 tonne level. Another day and another quiet news day.
Except for a $100/tonne spike yesterday, that vanished as quick as it
materialized, the market continues to trade quietly rangebound. Technical
indicators remain neutral for the most part, offering little assistance to
traders. China steel futures are in a retreat, and the Euro traded higher
yesterday. Not a lot to comment on this week, so we will let the main stream
media come up with an excuse to explain why the market is doing what the
market is doing. In our opinion, traders are trying desperately hard to hold
on to the $11,000/tonne level, after seeing nickel almost hit $13,000/tonne
in early November. You remember early November, right? All the big players
got together in London singing the praises of the future of nickel and the
electronic car industry. And what has the market done ever since? Makes one
wonder if the players were telling the world one thing, while behind closed
doors, they were saying something else. Enjoy your weekend and we hope to
see you next week.
Average price of cash nickel so far this month - $4.99/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) China's infrastructure investment grew 20% year-on-year to 12.67 trillion
yuan for the first 11 months of this year, latest data from the National
Bureau of Statistics showed.
Glencore is the tempting devil sat on mining's shoulder: Gadfly -
more
All Chinese Oil Traders Want for Christmas Is a Futures Contract -
more
European Stocks Fall Before ECB; Dollar Steady: Markets Wrap -
more
(Wednesday review) Copper rises as metals brace for likely U.S. rate
hike - Copper rose on Wednesday as prices extended a correction from last
week’s sharp fall, but moves were muted ahead of an expected interest
rate increase from the U.S. Federal Reserve. -
more
Mincor
roars back into nickel game - Mincor Resources will accelerate its return
to nickel, more than two years since it suspended its regional exploration
program in Kambalda because of poor market conditions. -
more
PolyMet
offers $544M for mine costs - PolyMet Mining Corp. is offering the state
a $544 million package of financial assurances to serve as an insurance policy
to protect taxpayers from potentially having to cover the costs of closing
and cleaning up a controversial copper-nickel mine it wants to build in
northeastern Minnesota. -
more
Queensland Nickel: Clive Palmer says Mineralogy could fund reopening
of refinery - Clive Palmer says one of his companies is poised to sink $25
million into the reopening of Queensland Nickel’s Townsville refinery.
-
more
Jobs
‘yes’, but smelter should be done right - If you’ve
read any of my other op-eds, you know that I care about the environment,
but that I also care about the Sault and its prosperity. -
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 13
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.02/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb higher.
Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and
now total just under the 377,200 tonne level. Nickel moved back towards the
$11,000/tonne line yesterday, but is up this morning. Investing.com is carrying
an article that says the technicals are calling for another drop in the traded
price of nickel, but one can take that for what its worth. Nickel is on its
third day of a trading within a slightly higher channel than last week -
trading in a $200/tonne range now between $11,000 and $11,200 tonne. Industry
news remains quiet although Reuters Andy Home gives a commentary on Vale's
mixed signals. We welcome him to the dark side.
Average price of cash nickel so far this month - $4.99/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Chart Of The Day: Nickel Poised For Yet Another Drop -
more
Stocks Struggle Ahead of Fed Meeting; Bonds Fall: Markets Wrap -
more
Zinc
up after Glencore holds 2018 output forecast steady - Zinc prices rose on
Tuesday after miner and trader Glencore held its output forecast steady for
next year, disappointing investors who had largely bet it would restart more
capacity. -
more
Vale's reality check for nickel's electric vehicle dreams: Andy Home
- Nickel is one of the materials expected to win from the coming electric
vehicle (EV) revolution. -
more
WMS
Press Release December 2017 - The Nickel market was in deficit during January
to October 2017 with apparent demand exceeding production by 49.9 kt. In
the whole of 2016 the calculated deficit was 68.2 kt. Reported stocks held
in the LME at the end of October 2017 were 9.4 kt higher than at the end
of the previous year with most of the increases recorded in Asia. -
more
This
is how much copper, nickel, cobalt an electric vehicle world needs - Glencore's
investor day on Tuesday painted a positive picture not just of the Swiss
miner and commodities trader's business but also had good news for the mining
industry as a whole. -
more
$9m
raising to get Mincor Resources back in Kambalda nickel game - Mincor Resources
has announced a $9 million capital raising for an exploration program across
its Kambalda nickel assets. -
more
Courtesy
AISI - In the week ending on December 9, 2017, domestic raw steel production
was 1,672,000 net tons while the capability utilization rate was 71.7 percent.
Production was 1,607,000 net tons in the week ending December 9, 2016 while
the capability utilization then was 67.8 percent. The current week production
represents a 4.0 percent increase from the same period in the previous year.
Production for the week ending December 9, 2017 is down 2.8 percent from
the previous week ending December 2, 2017 when production was 1,720,000 net
tons and the rate of capability utilization was 73.8 percent. -
source
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 12
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.10/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just over the 375,500 tonne level. Industry news is very quiet today. Nickel
jumped approximately $300/tonne about an hour after we posted yesterday,
and then settled in around the $5.05/lb level, where it remains today. The
move successfully broke nickel out of a week old channel, although it remains
to be seen if that accomplishment is more than temporary. Chinese steel futures
moved up yesterday, but backed off a little today. With fundamentals offering
little reason for a movement, technical indicators are being watched closely.
And at the moment, they are sending a neutral signal, with independent measures
equally mixed. Nickel is currently trading at its 10 day MVA, which
is now running below both the 30 and 100 day MVA. The 200 day is running
at $4.73/lb today so it appears to be safe for now.
Average price of cash nickel so far this month - $4.99/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Stocks Push Higher as Oil Rises; Dollar Slips: Markets Wrap -
more
(Monday re-cap) Copper inches higher on softer dollar, China data -
Copper prices gained for a fourth straight session on Monday, supported by
a weaker dollar and data from top consumer China that indicated higher demand.
-
more
ISSDA
Forecasts 9% Jump in Stainless Steel Production - According to ISSDA, the
domestic steel production in India is estimated to touch 3.6 million tonnes
in 2017, significantly higher by 9% when compared with the previous year.
-
more
Nickel
Outlook 2018: Price Gains and Growing Battery Boom - What's in store for
nickel in 2018? Experts share their nickel outlook, pointing to price improvement
and increasing demand from the battery space. -
more
Vale
to Preserve Nickel Optionality: Expects Electric Car Boom - On Vale Day on
December 6, 2017, Vale pared back its production forecasts for nickel for
the next five years. It cut its nickel volumes estimate by 15% to 263,000
tons in 2018. -
more
Analysis:
China, global steel mill spreads strong into year end - Global indicators
of operating margins at steel mills look strong across the board into the
end of the year, as increases in steel prices have kept up with volatile
iron ore, coking coal and scrap costs, according to S&P Global Platts
analysis and data. -
more
Canico
accepts sweetened CVRD offer - Canico Resource Corp. yesterday endorsed a
sweetened bid from Brazil's Companhia Vale do Rio Doce, marking the second
time the Canico team has groomed a project to the point where a chequebook-toting
suitor came knocking at the door. -
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 11
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$4.99/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
start the new week just over the 376,150 tonne level. The market continues
to use the $11,000 tonne level to trade around, since falling to the level
last Tuesday. Market bulls need some news to get back the momentum they had
in the fall, and Vale isn't giving it to them by announcing they might mothball
their mega mine in New Caledonia if they can't find a partner to help cover
the expense of operating the facility. We have read that the formerly named
Goro operation is one of the most expensive to operate in the world, which
might explain the apparent offers they have received thus far, have not met
their expectations. But, they added for stock holders, they still maintain
a very positive outlook for the future of nickel. Ok, we won't try to explain
that reasoning - just throwing it out there as what is being reported as
what was said. Kind of like divorcing your wife because she is expected to
turn super hot in a few years. Another week of business begins - best of
luck to each of you.
Average price of cash nickel so far this month - $5.00/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
European Shares Flat as Euro Rises; Dollar Drifts: Markets Wrap -
more
(Friday re-cap) Stronger China demand prospects fuel copper's rise
- Copper prices rose on Friday after data showing a jump in Chinese imports
of the metal fuelled expectations of stronger demand from the top consumer,
but gains were capped by a rising dollar. -
more
Vale to mothball New Caledonia mine if no stake buyers found, CEO says
- Vale would mothball its nickel project on New Caledonia next year if it
does not find a strategic partner prepared to purchase a 20%-40% stake, says
CEO Fabio Schvartsman of the mine, which cost billions of dollars to build
and has been plagued by problems. -
more
Chinese companies to produce iron and nickel in west of Kazakhstan
- China continues to strengthen business relations with the regions of
Kazakhstan. -
more
Production
Volume of SUS Products in September 2017 Is 247,617 Tons = Up by 1% from
prior month, and production of Cr-type is down but one of Ni-type is up =
The Ministry of Economy, Trade and Industry announced the production volume
of stainless steel products (hot-rolled products) in September 2017 was 247,617
tons, which was up by 0.6% from the prior month and also up by 0.9% from
the year-earlier month. -
more
Dec
Ni SUS Scrap Purchase Price in Kanto with JPY150,000 - 152,000 = Due to increased
prices of nickel and stainless steel products = As of December 4, many of
the stainless steel mills in the Kanto area offer the purchase price (delivered
at plant) of nickel-containing stainless steel scrap (SABOT) at JPY150,000
- JPY152,000 per ton. -
more
Russians interested in constructing ferrous nickel processing plant
- Russian investors visited the Office of Governor Sol Matugas here Sunday
afternoon and discussed about a processing plant to be invested in Surigao
del Norte province. -
more
Norilsk
Nickel to boost investment in geological exploration by 25% - Russia’s
top nickel producer Norilsk Nickel plans to invest 1.5 bln rubles ($25 mln)
in geological exploration in 2017, a 25% increase compared with 2016, the
company said Monday. -
more
‘Miners can do better’ - At least 20 mining and quarrying companies
that excelled in various aspects of operations were cited for their best
practices during the 64th Annual National Mine Safety and Environment Conference
held in Baguio City last month. -
more
Letter:
Sudbury mining's leader - On Nov. 21, I led a delegation from Sudbury to
Ottawa for the annual Mining Association of Canada's Mining Day on the Hill.
-
more
Clive
Palmer denies refinery squeezed to meet debts - Clive Palmer has denied using
his stricken Queensland Nickel company as a “cash cow” to pay the
debts of his corporate empire. -
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 7
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$4.88/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and started
today's session just over the 377,800 tonne level. It appears the 10 day
MVA will cross below the 100 day today and not exactly sure if that will
have an effect on electronic traders or not. Surely a bearish signal. Six
months ago, nickel averaged $4.20/lb and three months ago, it averaged $4.64/lb.
After spiking to average $5.45/lb last month, nickel has been in trouble.
Yesterday's close was its lowest since October 5th. The market is more subdued
today, with bears and bulls wrestling to a stalemate so far. BHP got out
of the nickel business a few years back, and now Vale says it is dialing
back. Two things to notice. Just a few months ago all anyone heard was the
boom in nickel that was coming thanks to electronic vehicles. And two, lets
hope we don't see the headlines some day titled 'The Year Pig Nickel Diggers
Killed Major Miners'. Don't expect it, but China's ability to turn once garbage
rock into a new source for nickel, has turned the nickel industry on its
head. Our last update for the year, so have a safe and relaxing weekend and
we hope to see you next week.
Average price of cash nickel so far this month - $5.02/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) As per SMM research, with distinct slump in market, NPI plants keep
bearish at nickel ore price.
AISI Releases November SIMA Imports Data; Import Market Share 25 percent
in November -
more
Stocks Gain as Profit Taking Eases; Dollar Rises: Markets Wrap -
more
Wednesday wrap-up - Copper steadies after sharp losses, other metals
fall on China jitters - Copper steadied on Wednesday after sharp falls in
the previous session, while other metals fell on concerns that China could
see a weaker first half of 2018 and as investors looked to reduce their long
exposure before the end of this year. -
more
Vale
cuts nickel output but is positive on long-term demand - Brazilian miner
Vale SA dialed back its nickel output forecasts for the next five years on
Wednesday, although the world’s top producer of the metal praised its
longer term prospects on likely soaring demand for electric cars. -
more
Nickel
Trends 2017: Deficit Expected on Supply Challenges - At the end of 2016,
nickel was trading at $10,010 per tonne, and many market watchers were
anticipating higher prices in the face of rising demand and short supply.
-
more
japan's
Exports of Steel Products in Oct Fell by 10.3% to 3,020 t/t = Its exports
of ordinary steel products were 1,880 t/t, down 15% for 14 months in a row
= The Japan Iron & Steel Federation released on 30th Japan's imports
and exports of steel products in October. -
more
Clive
Palmer avoids raids after handing over Queensland Nickel documents - Liquidators
will not need to raid Clive Palmer's company Mineralogy after the billionaire
complied with a court-imposed deadline to hand over financial documents.
-
more
Clive Palmer due in court over the collapse of Queensland Nickel -
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 6
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$4.93/lb. Indicators
at 6:15 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose yesterday and started today
just over the 378,400 tonne level. Depending on which side of the bull-bear
spectrum you sit, the bears had a big day yesterday. The trading price of
nickel fell below its week long channel, and more importantly, below the
$11,000/tonne level. Nickel has fallen nearly $600/tonne in the last two
days, and this drop puts it back into the negative channel it has been in
since November 6th. Since then, the price has fallen over $2000/tonne.
Technically, things are not looking very encouraging for the bulls. Yesterday's
price drop put nickel back under the 100 day MVA, and if today ends negatively,
the 10 day moving average should move back below the 10 day line for the
first time since mid summer. The 200 day MVA is sitting at $4.72/lb today
and if we see a few more days like yesterday, it too could be in jeopardy.
Average price of cash nickel so far this month - $5.06/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters) BMI Research said it expects industrial metal prices in 2018 to
consolidate due to a marked slowdown in China's metals consumption growth.
Stocks Drop as Risk-Off Takes Hold; Bonds Advance: Markets Wrap -
more
(Tuesday wrap-up) Copper at two-month low on firmer dollar, inventory
rise - Copper had its biggest drop for two years on Tuesday with the price
hitting its lowest level in two months as inventories rose and the dollar
firmed on expectations of U.S tax reform. -
more
Colombia nickel output gains, precious metals fall in Q3 - Colombian
output of nickel rose in the third quarter from a year ago, while precious
metals and coal production fell, the government said. -
more
US
to Levy Punitive Tariffs on Chinese Steel exported via Vietnam - As per Routers,
the US department of commerce says it will levy a 199.43% anti-dumping duty
and 39.05% anti-subsidy duty on corrosion-resisting steel products using
Chinese substrate imported from Vietnam. -
more
Electric
charge: Glencore bets big on car battery metals - Glencore has increased
production of the metals used to make electric car batteries faster than
its major mining rivals, according to an industry-wide analysis that shows
the scale of a strategy that has big prospective risks and rewards. -
more
Steel
Rally's So Powerful It's Now Back to Lehman-Crisis Levels - Steel’s
breath-taking rally just scaled a fresh peak, with prices hitting the highest
since the world economy tanked almost a decade ago during the financial crisis
ushered in by the collapse of Lehman Brothers Holdings Inc. -
more
NASA has reinvented the wheel using a material that ‘remembers’
its shape - NASA has reinvented the tire. These rover tires are made from
a nickel-titanium alloy. A material that can be deformed and return back
to shape. -
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 5
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.16/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.11/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just over the 376,600 tonne level. It looks like nickel has fallen into a
narrow band of trading, between $11,000 tonne and $11,400, where it has spent
the last week. Today's drop has put the trading price of nickel below its
100 day moving average for the thrid time in the last four sessions. This
is sending a negative technical signal, with the 10 day MVA turning negative
mid November. Other technical signals remain split. December can be a feast
or famine month when it comes to news, and so far this year, it hasn't been
headline heavy yet.
Average price of cash nickel so far this month - $5.08/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Monday re-cap) Nickel boosted by China steel but dollar caps gains
- Nickel gained on Monday as the metal mainly used in stainless steel got
a boost after Chinese steel futures touched three-month highs, but a firmer
dollar capped the rise. -
more
Rio
Tinto appoints Simon Thompson to replace Jan du Plessis as its new chairman
- After a nine-month search, Rio Tinto has picked former investment banker
Simon Thompson to be its new chairman from March 5, next year. -
more
Norilsk
Nickel to shell out billions to tackle environmental issues of Russia's north
- Norilsk Nickel is a Russian diversified mining and metals company, the
globally largest producer of nickel and palladium and the major producer
of platinum, cobalt, copper, and rhodium -
more
Latest
on the ferrochrome smelter bid - Sault Ste. Marie's bid team pursuing a Ring
of Fire-related ferrochrome smelter will meet this week with officials of
Algoma Steel to consider possible locations on steel mill property. -
more
EPA reverses
rule requiring mine cleanup money - The U.S. Environmental Protection Agency
has announced that it won't require mining companies to prove they have the
cash available to clean up future pollution problems, often called financial
assurance, despite government reports that show huge legacy cleanup costs
to taxpayers. -
more
Courtesy
AISI - In the week ending on December 2, 2017, domestic raw steel production
was 1,720,000 net tons while the capability utilization rate was 73.8 percent.
Production was 1,595,000 net tons in the week ending December 2, 2016 while
the capability utilization then was 67.3 percent. The current week production
represents a 7.8 percent increase from the same period in the previous year.
Production for the week ending December 2, 2017 is up 1.0 percent from the
previous week ending November 25, 2017 when production was 1,703,000 net
tons and the rate of capability utilization was 73.0 percent. -
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 4
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.12/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.05/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell both Thursday and Friday
and started today's session just over the 378,500 tonne level. Nickel fell
early Friday, but bounced off the $11,000/tonne level sharply and has been
trading higher ever since. Is the bear run over? Way too early to say that,
but since mid day Friday, the price has bounced over $400/tonne, which literally
moved the stochastic reading from oversold to overbought in moments. Technicals
at the moment are mostly bullish, and this bounce has moved nickel back above
the 100 day MVA, while still below the 10 and 30 day. Once again the media
looks for a "reason" for their headlines and for those who might buy into
today's headline that "Nickel gets boost from Chinese steel market gains",
the Chinese steel market has been 'gaining' for the last two and a half weeks
- how has that been working out for nickel? Steel prices in China are up
because steel production is down due to the anti-pollution measures the
government is taking this winter. How lower steel production 'helps' nickel
- is beyond us. We hope you have an enjoyable and profitable week.
Average price of cash nickel so far this month - $5.01/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Chart Of The Day: Is Nickel Hammering Out A Bottom? -
more
AISI Reacts to G20 Global Forum on Steel Excess Capacity -
more
Dollar Rises With Yields on Tax Plan; Stocks Jump: Markets Wrap -
more
(Friday wrap-up) Lead, zinc hit multi-week highs on China shutdowns
- Lead and zinc touched multi-week highs on Friday amid supply concerns as
China steps up pollution inspections just as seasonal demand for lead in
batteries increases. -
more
Coleman
Mine shutdown extended until end of January - The shutdown at Vale's Coleman
Mine in Sudbury has been extended, according to the United Steelworkers Union.
-
more
Blockbuster! Indonesian Government to Cancel Nickel Ore Quota - As
per SMM research, concerning semi-annual construction progress of NPI plants
in Indonesia, some of them are lagging behind planned schedule, which may
face risk of cancellation of quota. -
more
‘Miner's Revenge’ Is Coming With Electric Cars, Friedland
Says - Surging demand for metals like copper, nickel and cobalt for use in
electric vehicles promises to overturn the balance of power between mining
companies and their customers, according to billionaire investor Robert
Friedland. -
more
Iron
Range: Conflict over future of mining is unearthing a new political force
in Minnesota's north country - Up North on Minnesota’s Iron Range
there’s a clan of hearty folks, intensely proud and loyal to their own.
-
more
House passes bill to reopen areas near BWCAW to copper-nickel exploration
-
more
We Probe The Universe From A Nickel Mine, And With Lots Of Video Calls
- What do a big chunk of ice at the South Pole, a mine in northern Ontario,
and a mountain in Italy have in common? -
more
These Shapeshifting Metals Could Be the Future of Flight - Humanity
may be divided on a great many issues, but most would agree that it would
be very cool to have airplane wings made of shapeshifting metal. -
more
Queensland Nickel liquidators threaten Clive Palmer with contempt -
Clive Palmer has been given more time to hand over documents relating to
the collapse of Queensland Nickel, but could risk contempt of court proceedings
if he fails to meet the new deadline. -
more
The
lure of a better life, amid Siberian cold and darkness - Blessed with a
cornucopia of precious metals buried beneath a desert of snow, but so bereft
of sunlight that nights in winter never end, Norilsk, 200 miles north of
the Arctic Circle, is a place of brutal extremes. -
more
Mining
Day in Ottawa draws Sudbury crowd - Mining Day on the Hill was an opportunity
for Greater Sudbury Mayor Brian Bigger to rub elbows with the lead player
in the Ring of Fire. -
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 Monday thru Thursday before 8 am CST -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(7:00 AM CST is 12 PM in London)
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just under the 370,850 tonne level. The LME stockpile numbers are now lower
than they were on the first day of the year, and only 1,104 tonnes higher
than the 2017 low of January 16. Nickel bounced overnight, erasing yesterday's
loss and adding to the most recent bullish run. Technical indicators remain
positive, and while slumping Chinese steel futures are adding negative pressure,
a strengthening Euro is adding positive momentum. As this is our last update
for the week, month and year, we want to take this opportunity to thank our
readers for spending 2017 with us and invite you back . We also wish each
of you has a safe and eventful weekend and that 2018 brings you health, wealth,
and happiness.
Reports
Commodity/Economic Comments
(Wednesday review) China imports help fuel copper's ascent to four-year
high - Copper prices soared to four-year peaks on Wednesday after a jump
in China’s imports of the metal in November boosted expectations of
stronger demand from the top consumer. -
NSSC
Raises Prices of CR Austenitic, Ferritic Stainless Wire Rods = For distributors'
contracts of December 2017-February 2018 (rolling in January-March 2018)
= Nippon Steel & Sumikin Stainless Steel (NSSC) released on 21st its
domestic prices of stainless steel wire rods for distributors for contracts
of December 2017-February 2018 (rolling in January-March 2018). -
Miners
Invest $5b in Indonesia Nickel Smelters in First 10 Months - Thirteen mining
companies have invested a combined $5.03 billion in the construction of nickel
smelters during the first 10 months of this year to comply with Indonesian
government requirements, an official at the Ministry of Energy and Mineral
Resources said. -
China
extends tax rebate for electric cars, hybrids - China will extend a tax rebate
on purchases of so-called new-energy vehicles (NEV) until the end of 2020,
a boost for hybrid and electric car makers amid a shift by policy-makers
away from the traditional internal combustion engine. -
Norilsk
Nickel to finance social projects in three Russian regions - Russia’s
leading mining and metallurgical company Norilsk Nickel (Nornickel) announced
winners of a competition among social projects, organized under its charity
program World of New Opportunities. . -
Glencore and other miners entreat Congo to rethink damaging
new laws - Mining companies in the Democratic Republic of Congo have urged
legislators to rethink new legislation that could lead to acrimony between
the government and the industry. -
Odisha:
Tata’s ferrochrome unit to resume production in January amid staff stir
- Even as agitation by its employees over non-payment of salaries continues,
Tata Steel’s ferro chrome plant (FCP) at Chhatrapur within Chamakhandi
police limits in Ganjam district is likely to resume production from January
next year. -
Sumitomo Metal Mining to Take Part in Chromite Recovery Business =
By-product of Taganito HPAL Nickel, Philippines = On December 19, Sumitomo
Metal Mining Co., Ltd. (SMM) announced its plan to take part in the recovery
business of chromite as raw materials mainly for stainless steel. -
Courtesy
AISI - In the week ending on December 23, 2017, domestic raw steel production
was 1,718,000 net tons while the capability utilization rate was 73.7 percent.
Production was 1,607,000 net tons in the week ending December 23, 2016 while
the capability utilization then was 67.8 percent. The current week production
represents a 6.9 percent increase from the same period in the previous year.
Production for the week ending December 23, 2017 is up 1.2 percent from the
previous week ending December 16, 2017 when production was 1,698,000 net
tons and the rate of capability utilization was 72.8 percent. -
The London Exchange is closed Monday and Tuesday
for the holidays, so our next update will be on Wednesday, December 27.
We wish our readers the happiest and safest of holidays.
unchanged. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just over the 373,400 tonne level. Allegheny published January surcharges
yesterday and we are still waiting to see the others. Surcharges dropped
sharply. For example, 304 will drop from $.6191/lb to $.558/lb, while 316
drops from $.8054/lb to $.746/lb. Having punched thru the $12,000/tonne level
again, nickel is hesitating today. Technical signals remain positive. Heading
into a long weekend, we could see traders look to solidify this trading level.
(Wednesday review) - Copper hits two-month high above $7,000/t on weak
dollar, growth hopes - Copper hit a two-month high on Wednesday as the dollar
fell and investors remained upbeat about global growth prospects as a U.S.
tax overhaul neared completion and China’s economy remained on a firm
footing. -
Stainless Steel Production Reached 36.1 Million Tons In The First None
Months of 2017 - The International Stainless Steel Forum (ISSF) has released
figures for the first nine months of 2017 showing that stainless steel melt
shop production increased by 7.4% year–on–year to 36.1 million
metric tons. -
EU
Steel Price Revival Expected in Early 2018 - Strip mill product basis prices
were stable in most northern European markets, in December, according to
the latest edition of MEPS European Steel Review. -
Zim
Alloys Hires 300 Workers - Gweru-based giant ferrochrome producer, Zimbabwe
Alloys, which is under judicial management by Grant Thornton International,
has recruited 300 employees to enable operationalisation of the company.
-
Nickel
Outlook 2018: Price Gains and Growing Battery Boom - What's in store for
nickel in 2018? Experts share their nickel outlook, pointing to price improvement
and increasing demand from the battery space. -
Horizonte
Minerals to Buy Vale SA's Vermelho Project in Brazil for $8 Million - Horizonte
Minerals PLC said Tuesday that it has agreed to buy the Vermelho nickel-cobalt
project in Brazil from Vale SA for $8 million. -
Nickel
West smelter milestone defies gloomy predictions - BHP Nickel West sees a
positive future for the 45-year-old Kalgoorlie Nickel Smelter after it hit
a major milestone despite trying conditions in the global nickel market,
producing the facility’s three millionth tonne last week. -
Chile's
Molybdenum Production in October 2017 Is 5,284.3 Tons = Up by 2% from
year-earlier month and up by 9% from prior month = According to Ministerio
de Mineria of Chile, the production volume of molybdenum (in pure Mo equivalent)
in October 2017 was 5,284.3 tons, up by 2.1% from 5,175.4 tons in the
year-earlier month and up by 9.4% from 4,829.8 tons in the prior month. -
Jobs
‘yes’, but smelter should be done right - If you’ve
read any of my other op-eds, you know that I care about the environment,
but that I also care about the Sault and its prosperity. -
Vale to mothball New Caledonia mine if no stake buyers found, CEO says
- Vale would mothball its nickel project on New Caledonia next year if it
does not find a strategic partner prepared to purchase a 20%-40% stake, says
CEO Fabio Schvartsman of the mine, which cost billions of dollars to build
and has been plagued by problems. -
Chinese companies to produce iron and nickel in west of Kazakhstan
- China continues to strengthen business relations with the regions of
Kazakhstan. -
Colombia nickel output gains, precious metals fall in Q3 - Colombian
output of nickel rose in the third quarter from a year ago, while precious
metals and coal production fell, the government said. -
US
to Levy Punitive Tariffs on Chinese Steel exported via Vietnam - As per Routers,
the US department of commerce says it will levy a 199.43% anti-dumping duty
and 39.05% anti-subsidy duty on corrosion-resisting steel products using
Chinese substrate imported from Vietnam. -
