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Friday, December 31
Daily Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $9.34/lb ($20,585/tonne). Indicators at 5:45 am CST today show
nickel trading around $.13/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Thursday and started the last session of 2021 just under the 101,900
tonne level. On this day last year, the LME showed 246,708 tonnes of
nickel. Nickel traders show they have ever intention of entering the
new year on a bullish run and nickel is now trading over $1000/tonne
higher than it was just over a week ago. Unless the market tanks later
today, the average price of LME cash nickel for the month, will end at
its highest this year. More on the Chinese steel factory closures until
after the Olympics below. Apparently the confusion is over the use of
the term 'massive' closures. Aperam, headquartered in Luxembourg,
announced
Monday, it had completed the acquisition of ELG, who was our first
ever annual sponsor, sponsoring a side banner for all of 2021. We thank
them,
as we do all our sponsors, for their support and wish them well in
their new partnership. London markets are closed on Monday, and resume
trading on Tuesday. Our hope for all of our readers is the very best in
the new year, and may 2022 bring you and your family, peace and
prosperity, way
too many reasons to smile and laugh, and above all in these trying
times, the health necessary so you can thrive, not just survive.
Enjoy your holiday and we hope to see you on Tuesday, January 4th, for
our first update of 2022.
Average price of LME traded cash nickel
so far this month
- $9.08/lb
Reports
Reuters metals morning - Base metals shine in 2021 on robust China demand, supply concerns - more
Thursday's market review - Aluminium climbs after
smelters curtail output due to power prices - Aluminium prices advanced
on Thursday after two smelters cut production due to high power prices,
fuelling concerns about potential shortages. - more
Iron ore futures end 2021 with 12% drop amid China climate efforts - more
Blast Furnace Resumption Is Postponed For Environmental Protection -
According to SMM statistics, 22 steel companies with 43 blast furnaces
planned to resume their production from December 20, 2021 to January
10, 22. However, due to environmental protection, the upcoming Winter
Olympics and other reasons, the resumption of production has been
postponed. - more
Aperam Completes Acquisition Of ELG - Aperam, announced Monday the
completion of the acquisition of ELG, a global leader in
stainless steel and superalloys recycling. - more
DOF backs lifting of open-pit mining ban - The Department of Finance
said Thursday it supports the lifting of the ban on open-mining as this
would enable the industry to become a key contributor to economic
recovery. - more
2021
Review: Battery Metals Have Enchanted the Market - There’s simply no
other way to put it. Battery metals are red hot now as the world
continues to charge headlong towards electrification and zero carbon
emissions. - more
Nickel closed Wednesday's trading
session at $9.28/lb ($20,460/tonne). Indicators at 5:45 am CST today show
nickel trading around $.01/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and started today just over the 103,000/tonne level. Nickel
had a positive trading day Wednesday, closing at its highest this
month. Market is quiet this morning, with Shanghai markets playing
catch up overnight. We are introducing a slightly different layout
for 2022, which adds more links that some of you may find useful. Those
we have determined are most relevant are at the top, while others are
below the news section. Please review the new links and if you have one
that others in the industry might find useful, please let us know. We
will post an update tomorrow, but with the London Metal Exchange closed
on Monday, we will not be updating next week until Tuesday. Stay safe
out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $9.07/lb
Reports
Reuters metals morning - Copper slips in range-bound trade, aluminium shines on supply worries - more
Wednesday's market review - Copper touches one-month
high on year-end trading and arbitrage - Copper prices climbed to their
highest in a month on Wednesday, boosted by year-end trading, friendly
sentiment for risky assets and arbitrage buying. - more
Asian steel output remains firm outside of China - Asian crude steel
output fell further in November on the continued cut back in output in
China, according to World Steel Association data. - more
The output of 300-series Stainless Steel to Rise by over 6% in 2022 on the Continuous Commissioning of New Capacity - more
Increasing Production, Enhancing Raw Material Security Focus Areas For
Steel Sector In 2022 - Increasing per capita steel consumption and
production of special steel as well as enhancing raw material security
will remain the key focus areas of the Indian Government. - more
Taiwan’s stainless steel screw industry facing surging costs - LME
nickel price has remained high over the US$20,000/ton level so far
yesterday (December 28), which led to high costs of nickel-containing
stainless steel screws. - more
Nickel closed Friday's trading
session at $9.09/lb ($20.045/tonne). Indicators at 6:00 am CST today show
nickel trading around $.07/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Friday and started today's session just under the 103,700 tonne level.
The London Metal Exchange has reopened after being closed Monday and
Tuesday for Christmas. Morning started with some traders taking
profits, but the bulls have taken over since and nickel is on the rise.
Shanghai nickel closed slightly lower and back to where it closed
Monday night. News is on the quiet side as business' start wrapping
things up for the year. If you have something you still wanted to
accomplish in 2021, you have less than three days to 'get er done'.
Stay safe out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $9.06/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper touches one-month high on year-end trading, arbitrage - more
Tuesday's Shanghai market review - Shanghai Nonferrous Metals Mostly
Closed with Gains, the Market Stood Quiet - Shanghai nonferrous metals
mostly closed in the positive territory. The market, however, was quiet
as a whole approaching the year-end, with sluggish market transactions.
- more
SunSirs: Stainless Steel Prices Rose Slightly on the 27th - According
to the price monitoring of SunSirs, on the 27th, the price of stainless
steel rose slightly, and the spot price was reported at 15,956.67
RMB/ton, an increase of 0.84% from the previous trading day, an
increase of 20.13% from the beginning of the year, and a year-on-year
increase of 21.42%. - more
Cold-rolled stainless steel prices rise in Asia - more
CNGR to buy nickel, cobalt from Xiamen Xiangyu - Chinese battery
materials producer CNGR on Tuesday said it would buy nickel and cobalt
from compatriot Xiamen Xiangyu over a five-year period as part of a
broad strategic cooperation agreement between the two companies. - more
US,
EU target Oct 2023 to wrap up global steel, aluminum negotiations:
Biden - The US and EU will seek to conclude negotiations by Oct. 31,
2023, on global steel and aluminum arrangements to restore
market-oriented conditions and support the reduction of carbon
intensity across modes of steel and aluminum production, according to a
proclamation issued by President Joe Biden. - more
Courtesy AISI - In the week ending on December 25, 2021, domestic raw
steel production was 1,802,000 net tons while the capability
utilization rate was 81.6 percent. Production was 1,612,000 net tons in
the week ending December 25, 2020 while the capability utilization then
was 72.9 percent. The current week production represents an 11.8
percent increase from the same period in the previous year. - more
Steel Imports Up 44.6% Year-To-Date Through November - more
How to Support Customers When Supply Chains Are Unpredictable -
Consumers are impatient that supply chains are still unreliable, even
as economies are reopening. Tempers and patience are short; people just
want their goods, and they want them yesterday, but logistics teams
can’t make any promises. - more
Production Pace Is Insanely Fast For Model 3, Model Y At Giga Shanghai
- The Tesla Giga Shanghai plant in China currently is the biggest
electric car plant in the world, considering the production volume. - more
Nickel closed Thursday's trading session at $9.09/lb ($20,030/tonne) and Friday's session at $9.09/lb ($20,045/tonne). Stockpiles
of nickel stored in LME licensed warehouses fell on Thursday and Friday
and ended last week just over the 103,800 tonne level. Cancelled
warrants have spent the month in the 47-48% range. LME markets remain
closed today and will return to active trading tomorrow. Shanghai
nickel has done a whole lot of nothing in their last four trading
sessions, and could be waiting for the LME to reopen for directional
guidance. In a Reuters article on iron ore, linked below, the
author stated "China's environment regulator helped boost sentiment
with its spokesperson saying on Thursday that rumours about massive
shutdown of industrial firms in northern area during the Winter
Olympics were not true." We hadn't heard of 'massive' shutdowns, but
had read about forced closures in select cities hosting the Olympics.
There will still be the week long New Year's holiday shut down to
contend with, but obviously with iron ore being restocked heavily,
Chinese steel producers are entering 2022 optimistically. Stainless
steel prices are on the rise again, thanks primarily to the increase in
nickel prices. Omicron is still worrying markets, probably less so for
any potential personal danger involved and more on fears of
governmental over reaction and economic repercussions. Last week of
2021. Stay safe out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $9.06/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Shanghai copper hits one-month high on easing Omicron fears - more
Prior day's market review - Copper closes lower in thin
holiday trade as physical demand weakens - Copper prices edged lower on
Friday, sapped by thin holiday trade and concerns about weaker physical
demand. - more
Thursday's market review - Power price surge pushes aluminium to 2-month high - more
SunSirs: Stainless Steel Prices Rose Slightly on the 22nd - According
to the price monitoring of SunSirs, the price of stainless steel rose
slightly on the 22nd. - more
Spots and Futures of Stainless Steel Both Rose, Output Declined due to Annual Maintenance - more
Dalian iron ore futures gain for 5th week on restocking demand - more
Japan’s NSSC hikes nickel-based & chrome-based stainless steel wire
rod prices - Nippon Steel Stainless Steel Corp (NSSC), the largest
stainless steel producer in Japan, announced its price adjustment of
stainless steel wire rods signed from December 2021 to February 2022
with a delivery from January to March 2022. - more
China's stainless steel exports, reflecting weak domestic market demand
- According to statistics from the General Administration of Customs of
China, China’s stainless steel exports totaled around 394,000 tons in
November, hiking by 23.9% from the previous month and also increasing
by 13.3% from the same month a year ago. - more
Nickel Prices Were Boosted by Overseas Energy Crisis - The energy
shortage in Europe fermented again last week. The natural gas prices
soared in many European countries, and the European aluminium smelters
gradually reduced the production. - more
BHP: Demand for Primary Nickel to Increase 1.3 Million mt in a Decade
- Recently, Bao Wenjun, head of market analysis for metals and mining
at BHP, stated at the press conference of the 2021 Energy-saving and
New Energy Vehicle Development Report that at present, the vast
majority of nickel in the market is actually used in non-battery
industries, and only 5% of nickel was used in the battery industry in
2020. - more
Indonesia president launches $2.7 bln China-backed ferronickel plant -
Indonesian President Joko Widodo on Monday inaugurated a new
ferronickel plant with 1.8 million tonne output capacity in southeast
Sulawesi province built for an estimated $2.7 billion. - more
China warns its mining companies to get permits before ‘blindly’
visiting Afghanistan for minerals - China’s embassy in Afghanistan
warned its companies and citizens not to “blindly” visit the country to
inspect mineral resources, after reports of foreigners being detained
without exploration permits. - more
Philippines ends open pit mining ban to reinvigorate industry - The
Philippines has lifted a four-year-old ban on open-pit mining for
copper, gold, silver and complex ores, an official said on Tuesday,
marking the second landmark policy move this year as the government
tries to revitalise the industry. - more
US: Over 10 New Battery Plants To Be Launched In 2022-2025 - There were
only a handful of battery plants launched in the past decade (the Tesla
Gigafactory 1 in Nevada was the largest one), but now there is a huge
wave of new projects that spread through the automotive industry in the
U.S. - more
Nickel closed yesterday's trading
session at $9.04/lb ($19,940/tonne). Indicators at 5:40 am CST today show
nickel trading around $.03/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and started today just under the 104,200 tonne level. Nickel
is peeking its head over the $20,000/tonne level this morning, but ever
so slightly. The World Steel Association reported
crude steel production was down 9.9% in November, when compared to last
year. The primary reason for the drop is China production in the same
month was down a whooping 22%. Shanghai stainless futures rose for a
second consecutive session today, and indexes we follow there, show
stainless prices in China appear to have bottomed out and are back on
the rise.
The bidding war winner for Noront hopes to have a nickel mine up and
running in five years. Global molybdenum production was down slightly
in the third quarter of 2021 YOY. And that is it for us this week. LME
and Shanghai markets are open tomorrow, with LME markets closed next
Monday and Tuesday. Our next update will be Tuesday. We want to wish
all of our readers a very Merry Christmas and hope you are able to
enjoy your holidays with your family. Stay safe out there and have a
wonderful Christmas weekend!
Average price of LME traded cash nickel
so far this month
- $9.05/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Shanghai zinc, aluminium prices jump over 2% on supply concerns - more
Yesterday's market review - Zinc hits two-month peak on
supply worries - Zinc prices touched a two-month high on Wednesday on
persistent worries about supply while other industrial metals were
boosted by easing concerns about renewed pandemic restrictions. - more
November 2021 crude steel production - World crude steel production for
the 64 countries reporting to the World Steel Association (worldsteel)
was 143.3 million tonnes (Mt) in November 2021, a 9.9% decrease
compared to November 2020. - more
China’s stainless steel market prices stabilize - China’s stainless
steel market has recently recovered and the prices have stabilized
after the steel mills’ joint production cuts and Tsingshan keeping its
February prices flat, including 304 strips and Hongwang’s 304
cold-rolled coils. - more
Global production and use of molybdenum fell in Q3 2021 - Figures
released today by the International Molybdenum Association (IMOA) show
that the global production of molybdenum fell by 1% to 141.7mlbs in Q3
2021 when compared to the previous quarter, a fall of 6% when compared
to the same quarter of the previous year. - more
Steel prices and material lead times trending downward - Lead times
from the mills indicate steel prices could be dropping hard and fast - more
Australia’s Wyloo Metals hopes to have Ring of Fire nickel mine, access
road by 2026 - Wyloo Metals Pty Ltd., the winner of a fierce bidding
war for Noront Resources Ltd., hopes to have a large nickel mine in
operation in the Ring of Fire, and an access road built into the remote
minerals district in northern Ontario, within five years. - more
Electric Vehicle Battery Metal Prices Increasing Due to Shortages -
Global sales of pure electric and plug-in hybrid passenger vehicles in
2021 are expected to more than double to a record 6.2 million units,
which is almost 9 percent of the global passenger vehicle market—up
from less than 3 percent two years ago. - more
Amazon's logistics empire grows, matches up to FedEx and UPS - The
e-commerce giant rapidly expanded its fulfillment network this year to
keep up with a pandemic-induced spike in demand. - more
Nickel closed Tuesday's trading
session at $8.90/lb ($19,635/tonne). Indicators at 6:00 am CST today show
nickel trading around $.01/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today just over the 104,300 tonne level. Nickel
closed back above its 100 day moving average yesterday, and doing
little so far this morning, remains above. Changing little would also
define the 100 day moving average this month. Technicals lean to the
buy signal, but activity is slowing due to the upcoming holiday. BHP
has bowed out of the Australian bidding war for Canadian nickel miner
Noront Resources. Couple of bullish forecasts for the steel industry
below, while China stainless pricing appears to be stabilizing in some
areas. Demand for stainless in Taiwan, U.S., and Europe remains strong,
while China is soft, and will probably remain so thru the Olympics. Not
getting a lot of media attention in the U.S. yet, but parts of the
Philippines were devastated by Typhoon Rai last week. We are still
trying to determine what, if any, damage was done to the nickel mines
there but we hear some of their ports are badly damaged. This should be
a bigger story than it is... at least here in the U.S. Stay safe out
there, Merry Christmas, and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $9.04/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - London copper hits near two-week high as tight supply lends support - more
Tuesday's market review - Prices rise as investors recover
some risk appetite - Industrial metals rose on Tuesday alongside oil
prices and stock markets as investors weighing the impact of the
Omicron coronavirus variant on economic growth turned more bullish
after two days of selling. - more
Column: A year of walking on the wild side for industrial metals - Tin
was the first to turn wild.The London Metal Exchange's (LME) tin
contract rarely makes the headlines but in February it went into
spectacular melt-up. - more
SunSirs: Stainless Steel Prices Fell Slightly on the 20th - According
to the price monitoring of SunSirs, on the 20th, the price of stainless
steel fell slightly. - more
Taiwan’s domestic demand remains strong, Yusco & Tang Eng benefited
- According to the high nickel price in the world, the current nickel
price stayed in a high class with around US$20,000/ton, benefited by
the increasing stainless steel demand from the market. - more
BHP won't match Wyloo's takeover offer for Canadian nickel miner Noront
- BHP Group said on Tuesday it would not match a takeover offer by
billionaire Andrew Forrest's Wyloo Metals for Noront Resources Ltd,
essentially bowing out from a months-long tussle for the Canadian
nickel miner. - more
Rio and BHP wrestle with green M&A conundrum - more
Steel, scrap markets regionalize, led by China, as decarbonization
gains pace - China has been the catalyst of steel market
regionalization in recent years, in a trend taken up in other regions,
notably the European Union, as the decarbonization drive gains pace. - more
US
Steel sees ‘steel super cycle’ continuing - Despite a seasonal slowdown
in end-of-year order activity, US Steel is bullish going into 2022,
believing that the current “steel industry super cycle will continue,”
Kallanish reports. - more
MEPS - Global steel prices forecast to remain elevated in 2022 - more
Sweden could become a pioneer in green steel production - more
Higher Costs, Less Waste: Six Ways Supply Chains Will Change in
2022 - Supply chain disruptions continue to wreak havoc on everything
from holiday gift shopping to rising prices for essential goods. - more
Severe Weather Wrecks Southeast Asia as 200 Dead, Ports Shut - more
Port of Los Angeles Confirms Cargo Dip in November, Says Smaller Ship Are to Blame - more
Nickel oxide is a material that can ‘learn’ like animals and could help
further artificial intelligence research - A unique material, nickel
oxide demonstrates the ability to learn things about its environment in
a way that emulates the most basic learning abilities of animals, as my
colleagues and I describe in a new paper. - more
In Response: Let the process work; give Tamarack mine a fair shot - From
the column: "I believe that most Minnesotans will wait to understand
the final mine plan at Tamarack, consider the risks and benefits, and
come to their own conclusion." - more
U.S. faces tough choices in 2022 on mines for EV metals - more
Nickel closed Monday's trading
session at $8.78/lb ($19,350/tonne). Indicators at 6:00 am CST today show
nickel trading around $.09/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Monday and started today's session just over the 104,500 tonne level.
Nickel closed below the 100 day moving average
of approximately $19,440/tonne for a second time this month, and only
the fifth time since March. Nickel is on the climbing side of the
roller coaster ride, although with less enthusiasm than Thursday's
bounce. Taiwan's largest stainless steel producers see a positive year
for stainless steel demand next year, while China ends the year with
restricted demand. It's Tuesday and activity seems to be subdued due to
the approaching holidays and end of the year. Stay safe out there,
Merry Christmas, and have a wonderful shortest day of the year!
Average price of LME traded cash nickel
so far this month
- $9.05/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper buoyed by weaker dollar, low inventories - more
Monday's market review - Omicron variant casts shadow over
industrial metals - Industrial metal prices eased on Monday as fears
mounted that the spread of the Omicron coronavirus variant would hinder
global economic recovery. - more
Taiwan’s Yusco & Tang Eng optimistic about stainless steel market
next year - Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works
Co., Ltd., two leading stainless steel upstream suppliers in Taiwan,
expected a stably growing stainless steel market next year due to
recovered global demand and economy during the post-epidemic period. - more
Output Cuts at Stainless Steel Mills Increased Downside Pressures of
High-Carbon Ferrochrome - Recently, the transactions of stainless steel
have been lacklustre. The supply has increased after the end of the
power rationing. - more
Courtesy AISI - In the week ending on December 18, 2021, domestic raw
steel production was 1,805,000 net tons while the capability
utilization rate was 81.8 percent. Production was 1,612,000 net tons in
the week ending December 18, 2020 while the capability utilization then
was 72.9 percent. - more
US long products imports rise 55% on November 2020 to 348kt - more
Eramet targeted by a financial fraud - Eramet has identified a
financial fraud within its central treasury management. Eramet has
immediately initiated the necessary investigations and mobilized all
internal and external resources required to terminate these fraudulent
activities and take remedial action. - more
Indonesia launches major industrial estate on Borneo island - Indonesia
started construction on Tuesday of a new industrial estate on Borneo
island, which officials said aims to use hydropower for plants
producing items including semiconductors, lithium ion batteries, solar
panels and aluminium products. - more
Nickel closed Friday's trading
session at $8.92/lb ($19,670/tonne). Indicators at 6:05 am CST today show
nickel trading around $.19/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Friday and started the week just under the 105,400 tonne level. Nickel
is falling today and it appears another weekend of wall to wall covid
coverage has shaken some investors confidence. European countries
announcing new closures are not helping matters. Hypothetical question.
If omicron is 4 X more contagious than delta, but 25% as dangerous, are
we worse off today than we were a month ago. We are just about
convinced that vaccinated or not, boosted or not, covid survivor or
not, even masked or not - chances are many of us are going to get sick
from this new strain. On an individual and business basis, we have
decided how to best be prepared, and how to react. Whether we are
personally concerned or not is an individual choice, but disregarding
employees concerns is done at ones own peril. Biden's vaccine mandate
is back - at least for today. Wells Fargo, in its 2022 Outlook, enters
the year neutral on
industrial metals, "which face headwinds from China's slow pace of
economic growth". Gerber Steel reports stainless steel flat rolled
coiled and sheet prices in the EU rose again last week by $100 to
$150/tonne.
We are updating thru Thursday this week, and taking Christmas Eve off.
LME is closed next Monday and Tuesday so our first update next week
will be on Tuesday. Stay safe out there this week, Merry Christmas, and
have a great week!
Average price of LME traded cash nickel
so far this month
- $9.07/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper falls on concerns over rising Omicron cases, firm dollar - more
Friday's market review - Aluminium hits 1-1/2 month peak
on China supply worries - Aluminium prices touched the highest in over
six weeks on Friday after China's output of raw material alumina
slumped last month, highlighting the risk of tight supply due to power
shortages. - more
The Demand for Ferrochrome Declined Further as Mills Reduced Production
- The output of stainless steel has increased since November as the
power rationing has been eased. - more
China Crude Steel Output Is Estimated to Drop 2.2% YoY in 2022 - China
Metallurgical Industry Planning and Research Institute (“MPI”) held a
conference on the forecast of China and global steel demand in 2022 as
well as the competitiveness (and development quality) ratings of
Chinese steel enterprises in 2021 on December 15. - more
Fujian Hongwang adds 1.3-million-ton stainless steel cold rolling
project - According to the Fujian Provincial Department of Industry and
Information Technology, recently they had approved the application of
stainless steel cold rolling expansion project from Fujian Hongwang
Industrial Co., Ltd. - more
Vedanta Ltd acquires nickel and cobalt maker Nicomet in Goa - Anil
Agarwal-led Vedanta Ltd has acquired Nicomet, a Nickel and Cobalt
producer based in Goa making Vedanta the sole producer of Nickel in
India. - more
Nickel Ore Inventories at Chinese Ports Fell 241,000 wmt - The nickel
ore inventory at Chinese ports dipped 241,000 wmt from a week earlier
to 8.77 million wmt as of December 17. - more
US steel, aluminum prices face year-end inventory pressure - US
aluminum and steel prices retreated from record highs, as ferrous mill
margins continued to lose steam with falling spot prices, while mill
offers declined in order to clear inventory ahead of the year end. - more
Singaporean spent millions on cars, jewels with nickel fraud loot,
charges say - A Singapore businessman used gains from a billion-dollar
nickel trading scam to buy luxury cars, property, artwork and jewelery
worth tens of millions of dollars, according to charges filed against
him by public prosecutors on Monday. - more
A decade of REACH - Five things we’ve learned about managing REACH
dossier updates - More than ten years on from the implementation of the
EU’s REACH regulation, NiPERA’s Tara Lyons-Darden looks back and shares
some of the learnings and the challenges of maintaining REACH dossiers
from the perspective of the Nickel REACH Consortia. - more
Supply Chain Snags and Emboldened Workers Reflect a Changed Economy -
The global economy hadn’t experienced anything like this for decades.
Maybe ever. - more
Nickel closed Thursday's trading
session at $8.90/lb ($19,625/tonne). Indicators at 6:30 am CST today show
nickel trading around $.06/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Thursday and started today just over the 161,100 tonne
level. Nickel
bounced back above its 100 day moving average yesterday, which from the
chart, appeared to be the bulls early morning goal. All base metals had
a big day, with nearly all commodities, soft, hard, base, precious,
whatever, increasing in value. Nickel continues to rise this morning,
but with a far less dramatic movement. Another week, more volatility.
The bears were pulling the market lower when last week ended, and
continued to do so this week until yesterday's big bounce. Unless we
see a stronger afternoon session than the morning has been, we suspect
the week will end lower for a second consecutive week. Not a lot of
news out there today, as writers shift to remembering 2021, and
planning for 2022. Reuters recently started asking readers to sign in
for their metals articles. We shifted to Financial Post, who carries
the same stories. Now they appear to be shifting to a free subscription
only as well. The stories Reuters provide, in our opinion, are very
valuable to understanding what is going on daily, and we will return to
linking directly to them, when possible, even though they will require
a free sign on. When their story has yet to hit the net, we will link
to it on the Financial Post. News for free rarely means what it used to
and each year we find it more difficult to find good sources to link
too. But we are always on the hunt so we can bring you the news you
need - or might want. It's Friday, so stay safe out there and have a
great weekend!
Average price of LME traded cash nickel
so far this month
- $9.08/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Aluminium hits three-week high on China supply worries - more
Thursday's market review - Zinc soars as power crunch
forces Nyrstar to idle French plant - Zinc prices jumped more than 5%
on Thursday on supply concerns after Belgium-based Nyrstar said it
would shutter its plant in France from January due to soaring power
prices. - more
China Nov crude steel output down 3.2% on month as anti-pollution curbs
remain - China’s crude steel output fell for the sixth consecutive
month in November, slipping 3.2% from October, official data showed on
Wednesday, as production restrictions to combat pollution continued and
construction demand remained stagnant. - more
China’s tariff adjustments on stainless steel-related raw materials keep unchanged - more
Prohibitive energy and carbon prices risk undermining EU steel industry
decarbonisation: EU Leaders must act, warns EUROFER -
Continued prohibitive energy prices coupled with skyrocketing carbon
prices, above 80 euros, risk derailing the ambitious decarbonisation
plans of the steel industry. - more
State of Steel - December 2021 - Steel price increases have seemed to
peak in November and are now beginning to fall in December. Coil
continues to be in high demand, but the tubing mills are beginning to
get relief in the form of shorter lead times. - more
10 disruptions that rocked supply chains in 2021 - Companies
scrambled to adjust operations as they contended with the pandemic,
severe weather and the trapped Ever Given in another difficult year for
supply chains. - more
Supply Chain Crisis Is Especially Detrimental to Middle America - more
Nickel closed Wednesday's trading
session at $8.66/lb ($19,100/tonne). Indicators at 6:00 am CST today show
nickel trading around $.19/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and ended that session just under the 106,300 tonne level. If
you would have asked us last month if LME nickel inventories would fall
under 100,000 before the end of the year, we would have said "count on
it". Now, we aren't so sure. It's going to be close either way. All
base metals are trading higher this morning, with most over 3% higher.
When the Fed says it may have to raise interest rates three times next
year, it says two things. Money is going to be more expensive to
borrow, but that is because the economy is so strong, inflation needs
to be kept in check. So for those of you who have to pay more for milk,
or want to borrow money for a car, it might stink - but a strong
economy makes it so you can pay more. WBMS reports the nickel deficit
thru October was 133 kt, compared to a surplus of 84 kt in all of 2020. It
appears a majority of metals analysts think the market will return to a
surplus next year. We aren't so sure but more on that in a future
entry. Lot of stainless news today, so we leave you with it. Stay safe
out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $9.09/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - London copper gains as risk appetite, supply concerns increase - more
Wednesday's market review - Industrial metals fall as
Chinese data weakens demand outlook - Prices of copper and most other
industrial metals fell on Wednesday as data from China, the biggest
consumer, pointed to slowing economic growth and therefore weaker
demand for metals. - more
Scarce supplies to propel aluminum to top LME leaderboard - (excerpt)
The copper, zinc and nickel markets are expected to be effectively
balanced next year and prices are likely to be steady or lower by the
end of 2022. - more
SunSirs: The Price of Stainless Steel Is Weak and Difficult to Change -
According to the price monitoring of SunSirs, recently, the price of
stainless steel is still weak and the spot price is reported at 16,900
RMB/ton, an increase of 16.96% from the beginning of the year. - more
Stainless Steel Mills Jointly Cut the Output to Maintain Order of
200-Series Market - On 13 December, Baosteel Desheng took the lead in
issuing the Initiative on Jointly Maintaining the Order of the
200-Series Market and Regulating Market Behaviour and committed to cut
the output of 200-series products from the perspective of balancing
market demand and supply, by maintaining only one blast furnace in
production by March 2022 in an effort to scale back the overall supply
by more than 60%. - more
Taiwan’s 300 series stainless steel HRC price hits 7-year high in Nov -
According to statistics, Taiwan’s imports of 300 series stainless steel
hot-rolled coils amounted to around 39,200 tons in November, falling by
nearly 21% from the previous month. - more
January to October 2021 Metals Balances - (excerpt) The nickel market
was in deficit during January to October 2021 with apparent demand
exceeding production by 133.1 kt. In the whole of 2020, the calculated
surplus was 84.0 kt. - more
China Economy Slows as Virus Outbreaks Disrupt Recovery - China's
economy grew at an unexpectedly slow 4.9% annual pace in
July-September, down from 7.9% in April-June. - more
Daimler Says Sustainable Batteries Will Be a Marathon Struggle -
“Cobalt, lithium, nickel, rare earths, those will remain the
problematic cases,” Jungo Bruengger said in an interview. - more
Should I stay or should I go? Supply chain managers face the 'Great
Resignation' - Supply chain managers are not immune to workplace
trends. Quite the contrary: mass resignations are now both an internal
and external risk for companies. - more
Commodities 2022: USWC longshore labor negotiations could further disrupt US freight markets - more
Supply-chain hell ignites economic boom along U.S.-Mexico border - more
Nickel closed Tuesday's trading
session at $8.85/lb ($19,505/tonne). Indicators at 6:00 am CST today show
nickel trading around $.15/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today just under the 107,000 tonne level. Nickel
has slipped below its 100 day moving average this morning, by a rather
substantial amount. Last night it closed just above. The International
Nickel Study Group reported global nickel deficit of only 5,200 tonnes
in September. LME stockpiles fell approximately 37,000 tonnes that
month. Old timers watch the price of boxes and bolts to tell what
supplier costs are doing. Both PPI's are posted under reports. Lot of
news and reports today. Stay safe out there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $9.13/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper falls as cautious investors await Fed policy decision - more
Tuesday's market review - Rising inventories undermine
aluminum prices - Aluminum prices fell on Tuesday after inventories in
London Metal Exchange-registered warehouses jumped, though losses were
limited by robust demand and tight supplies expected in top producer
China. - more
India’s ISSDA asks resumption of CVD duty on stainless steel imports
from China, Indonesia - The Indian Stainless Steel Development
Association (ISSDA) has asked the government to restore countervailing
duty (CVD) on imports of stainless steel from China and Indonesia in
the upcoming Union Budget 2022-23... - more
Global nickel market deficit shrinks in Sept to 5,200 tonnes -INSG -
The global nickel market deficit narrowed to 5,200 tonnes in September
from a shortfall a month earlier of 14,600 tonnes, data from the
International Nickel Study Group (INSG) showed on Thursday. - more
Growth Rates Improve in November - Steel shipments increased in the
U.S. and declined at a much lower rate in Canada. Aluminum shipments
increased in both countries. - more
Global steel production forecast at record high in 2022 - MEPS
has lowered its annual crude steel production forecast to 1,940 million
tonnes, for 2021. Nevertheless, this figure is a new peak for global
steelmaking, and represents year-on-year growth of 3.4 percent. - more
Blockchain could answer big supply chain questions, says BHP -
Blockchain technology could help answer ...some of the big questions as
products pass through its supply chain, BHP chief commercial officer
Vandita Pant said in a news release this week - more
Ukraine Imports Of Nickel Goes Down By 22% In Jan-Nov - Ukraine in
January-November this year reduced imports of nickel ores and
concentrate by 21.6% compared to the same period last year, to 1.134
million tonnes. - more
Courtesy AISI - In the week ending on December 11, 2021, domestic raw
steel production was 1,818,000 net tons while the capability
utilization rate was 82.4 percent. Production was 1,612,000 net tons in
the week ending December 11, 2020 while the capability utilization then
was 72.9 percent. - more
ISM report issues positive 2022 outlook for manufacturing and services
sectors - Key indicators in the December 2021 ISM Semiannual Economic
Forecast, which was released this week, point towards continued
economic expansion in 2021. - more
U.S. Truckers Are ‘Drowning’ in Empty Containers - Restrictions on
empty-container returns at major ports are the top issue that needs
fixing to help ease U.S. supply chain bottlenecks, the head of the
Harbor Trucking Association said, adding that true round-the-clock
operations aren’t yet in place. - more
Nickel closed Monday's trading
session at $8.94/lb ($19,720/tonne). Indicators at 6:00 am CST today show
nickel trading around $.02/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Monday and ended that session just under the 107,800 tonne level.
Nickel continues to slide, and is now trading less than $200 over its
100 day moving average. The ISSF reported yesterday that worldwide
stainless steel melt shop production for the first three quarters of
2021 was up 16.9% YOY, with growth in China up less than half that.
Indonesia has grown quickly into a major player and has become, or is
expected to become soon, the second largest producer of stainless steel
in the world. The London Metal Exchange will be closed the Monday and
Tuesday after Christmas, and we will not publish updates on the Friday
before, or the Monday after. Slower news day so we leave you with it.
Stay safe and have a great day!
Average price of LME traded cash nickel
so far this month
- $9.15/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Monday's market review - Rising inventories and dollar
strength weigh on copper - Copper prices slipped on Monday as rising
inventories and a stronger dollar spurred selling, but China’s pledge
to front-load infrastructure investment next year capped losses. - more
Stainless steel production increases by 16.9% 43.0 million tons in the
first nine months of 2021 - The International Stainless Steel Forum
(ISSF) has released figures for the first nine months of 2021 showing
that stainless steel melt shop production increased by 16.9%
year–on–year to 43.0 million metric tons. - more
Russia’s stainless exports to EAEU decreases - Russia’s exports of
stainless steel to Eurasian Economic Union (EAEU) countries decreased
in January-October, says national special steel association USSA. - more
Iron ore market to continue rebalancing - Iron ore demand has bone the
brunt of deep cuts in the Chinese steel sector. - more
Australia battery metals players eye S. Korea market prospects -
Australian producers of battery metals hope to out-muscle China and
become a key supplier to Korea for electric vehicles, they said on
Tuesday after a meeting with South Korea's president in Sydney. - more
2022 Fuel Forecast Contains Plenty of Questions for Supply Chain
Managers - Derik Andreoli, principal at Mercator International, notes
that Goldman Sachs forecasts that oil prices could rise to $150 per
barrel in 2022 under a full economic reopening scenario. By contrast,
Deutsche Bank forecasts that prices will average just $60 per barrel. -
more
Outbreak triggers shutdowns in China’s major manufacturing hub - Half a
million people have been left quarantined and multiple companies in one
of China’s biggest manufacturing hubs have suspended operations as
local authorities try to contain a COVID-19 outbreak.- more
Nickel closed Friday's trading
session at $8.99/lb ($19,820/tonne). Indicators at 6:00 am CST today show
nickel trading around $.01/lb higher.
Stockpiles of nickel stored in LME licensed warehouses fell on
Friday and started the week just under the 108,300 tonne level. First
thing on your too do
list today might be to consider instructing all computer users in your
company to check and see if there are any security updates for their
system. See articles under 'Other News' for why. It's this weeks early
bird version of Armagaddeon, courtesy of the internet this time. Oh,
what would
we do without the complete annihilation of mankind supposedly staring
us in the face every Monday morning? Is it any wonder Marketwatch
posted an
article on Saturday that "More than half of young people surveyed think
‘humanity is doomed’ due to climate change". The latter news is
only relevant to business, if they need, or plan to need, employees in
the future, and for those who hope to retire some day. Hopeless kids
equals helpless workers for employers. Nickel continued its
slow slide on Friday, closing $5/tonne lower than it closed on Monday.
The 100 day moving average, which bottomed out in June of 2020 under
the $12,500 tonne level, continues to rise, and is now just under the
$19,500 tonne level. We show that is its highest level since 2012. The
fact that it continues to rise, tells us that apart from the
daily noise, the nickel bull remains
firmly in control. South African Merafe Resources announced the
European benchmark ferrochrome price for the first quarter of 2022 will
be $1.80/lb, the same as the current quarter. The price started this
year at $1.175/lb. The Australian heavy weights are fighting over a
Canadian miner again. And things are getting 'interesting' in New
Caledonia again. This happens nearly every year about this time, which
makes us wonder why the protests tend to break out during their summers
only. Lots of news and we leave you with it. Stay safe out there and
have a great week!
Average price of LME traded cash nickel
so far this month
- $9.16/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Rising inventories and dollar strength weigh on copper - more
Friday's market review - Copper drifts lower after U.S.
inflation data meets forecasts - Copper prices slipped on Friday after
U.S. consumer prices rose in line with expectations, dampening moves by
investors to buy commodities as a hedge against inflation. - more
A matter of class in the nickel market - The primary nickel market
could swing back to surplus in 2022, but a structural deficit in the
Class 1 market may remain sticky. - more
Stainless Steel Prices Are Expected to Keep Falling - The futures
prices of stainless steel kept falling by more than 1,000 yuan/mt last
week, and the spot prices remained in a downward trend. - more
Metals Demand From Energy Transition May Top Current Global Supply -
The clean energy transition needed to avoid the worst effects of
climate change could unleash unprecedented metals demand in coming
decades, requiring as much as 3 billion tons. - more
Analysis: Miners face talent crunch as electric vehicles charge up
metals demand - University of Kentucky undergraduate Jonathan Little is
among the legions of students around the world that the mining industry
cannot afford to lose, but already has. - more
Nickel Mining Is Killing The Rainforest In The Philippines - The demand
for battery metals as the auto industry switches to electric cars is
forcing us to trade the problem of carbon emissions for destructive
mining. - more
New
Caledonia might be about to break from France. Here’s why the world is
watching - Many voters in the French territory of New Caledonia go to
the polls this Sunday to vote on a referendum on independence - again.
- more
Pro-independence movement in New Caledonia rejects legitimacy of "No" vote - more
Wyloo raises offer for nickel miner Noront after talks end with BHP -
Australian billionaire Andrew Forrest's Wyloo Metals on Monday raised
its offer for Canadian nickel producer Noront Resources Ltd shortly
after failing to come to an agreement to support a rival bid by BHP
Group. - more
John Packard Discusses Steel Prices, Inventories & More -
Flat-rolled steel inventories continue to rise at service centers, and
steel buyers are not flocking to do their normal end-of-year deals with
steel mills. - more
Removal of Certain General Approved Exclusions (GAEs) Under the Section 232 Steel and Aluminum Tariff Exclusions Process - more
Long Beach Port Chief Sees Congestion Easing in Six Months - The head
of one of the two ports in the U.S.’s busiest maritime gateway said he
expects congestion that has caused upheaval throughout supply chains to
improve in about six months’ time. - more
Vanishing Ships Underscore Supply Woe: Crisis Peak Is a Mirage - more
Chinese Seafarers Face Crew Change Challenges - more
Nickel closed Thursday's trading
session at $9.03/lb ($19,905/tonne). Indicators at 6:15 am CST today show
nickel trading around $.01/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Thursday and started today just over the 108,600 tonne level. SMM is
reporting stainless steel mills are taking advantage of the slow down
in demand there, and shutting down some production for facility care
and maintenance. Prices there continue to fall as well. Demand for EV
cars, and thus EV batteries, continues to grow, with China's Tsingshan
now producing nickel matte in Indonesia. India complains of 'drowning'
under stainless steel imports from China, and Chinese producers are
starting to mumble about stainless steel imports from Indonesia. Seabed
mining continues to be a hot topic, with miners and environmentalists
once again squaring off. Gerber Steel wrote in a blog entry this week
"At least for nickel, conservative forecasts assume a price range of $
21,000 to $ 21,500 per tonne in the coming year." We try to post any
and all price forecasts for nickel and stainless steel when we come
across them, but most are published by metals analysts for subscribers
only. Speaking of subscriber only, Reuters recently started requiring a
free subscription (for now) to access their articles. We will continue
to link to their distributor's sites, although they may contain a lot
more advertisement. CDC had a good news/bad news report last night. 75%
of diagnosed omicron cases (43 so far) have been in fully vaccinated
people. That's the bad, and since overseas travelers have to be
vaccinated, not unexpected. The good news is since the majority of
people who have gotten sick so far are vaccinated, the reported
illness' have been mild. We suspect case numbers in the U.S. could
explode over the coming months, if fully vaccinated people can get, and
spread, this new variant. How sick the unvaccinated could get remains
to be seen. Stay safe out there, and have a great weekend!
Average price of LME traded cash nickel
so far this month
- $9.17/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper heads for weekly gain as low stocks and China stimulus support - more
Yesterday's market review - Copper slips as Omicron
restrictions power dollar - Copper prices snapped a three-day advance
on Thursday as government restrictions to temper the spread of the
Omicron variant pushed the dollar higher and dented risk appetite. - more
SunSirs: Stainless Steel Continued to Fall on the 8th - According to
the price monitoring of SunSirs, on the 8th, the spot price of
stainless steel was reported at 17,233.33 RMB/ton, down 1.71% from the
previous trading day and up 19.26% from the beginning of the year. - more
The Output at Stainless Steel Mills to Decline 300,000 mt amid
Maintenance - According to SMM survey, the domestic stainless steel
output totalled 2.3 million mt in November, up 14% month-on-month, but
down 10.2% year-on-year. The output totalled 29.72 million mt from
January to November, an increase of 10.23% year-on-year. - more
China's Tsingshan starts producing EV battery raw material nickel matte
in Indonesia - China's Tsingshan Holding Group on Thursday said it had
officially started producing nickel matte - an intermediate nickel
product that can be further processed into chemicals s for electric
vehicle (EV) batteries - in Indonesia. - more
Indian stainless steel sector drowning in Chinese imports - The first
half of 2021-22 has seen a 185 per cent increase in stainless steel
imports compared to the average monthly imports in the last fiscal,
creating havoc for the Indian players. - more
High input cost, weak steel prices to hit steel industry earnings: ICRA - more
Global miners to publish contracts and taxes in transparency drive -
Major mining companies have committed to disclosing all mineral
development contracts and related taxes signed from January 2021 to
strengthen mineral resource governance, the International Council on
Mining and Metals (ICMM) said on Thursday. - more
Battle over seabed mining could sway EVs’ future - An international
body is weighing a proposal that could be crucial in determining when
and how battery minerals are extracted from the deep ocean floor — a
decision with major repercussions for the future of electric vehicles.
- more
House Passes First U.S. Ocean Shipping-Law Revamp in Two Decades - The
House passed legislation Wednesday that provides the first major update
of U.S. international ocean-shipping laws in more than two decades as
the nation grapples with bottlenecks at its ports that are crimping
supply chains. - more
Languishing Walnuts Show How Shipping Crisis Is Hurting U.S. Farmers - more
Glimmers of hope emerge in the supply chain nightmare - more
Amid Record-Breaking Year, Port of Long Beach Throughput Falls Almost 5% in November - more
With Deadlines Looming, Must Employers Follow Biden's Vaccine Mandates? - more
Fed Says Supply Chain Issues Boosting Inflation - more
Stocks Fall With Omicron, U.S. Inflation in Focus: Markets Wrap - more
Nickel closed Wednesday's trading
session at $9.19/lb ($20,250/tonne). Indicators at 5:45 am CST today show
nickel trading around $.14/lb
lb lower. Stockpiles of nickel stored in LME licensed warehouses fell
on Wednesday and started today's session just over the 108,900 tonne
level. After two days on the rise, you really weren't expecting a third
were you? A see saw goes up and down, and today is a down day. A few
months back the news from China that Evergrande might default was seen
as Armagaddeon. Today it went into default and the market is not
yawning. Two weeks ago there was word of a new strain of covid in South
Africa and the markets thought Armagaddeon had once again arrived.
Today there is news that studies are verifying omicron is a far more
contagious than Delta, and the markets are 'consolidating' this morning
according to a Marketwatch reporter. Traders are so skittish they are
going to step in bear dung, that they jump ship at the first sign of a
leak. This is why day traders grow ulcers, and trends are far more
effective for long range planning than day to day volatility. On
a personal note, we posted a story under
'Other News' that may be of interest to those of our readers who are
taking vaccine doses as recommended by the government. Two years into
covid, it appears the vaccine makers are still 'reacting' to the newest
and latest strain, and the current booster you are being asked to take
is aimed primarily at the Delta strain, while the next "booster", now
under development, will combat omicron. We suspect you can start
looking for another
'must have booster' around spring. Here is what we "thought" we heard
last night on the national news. We thought they said that the initial
Pfizer
vaccine is not very good against the omicron variant, but that their
booster
gives you 25 time more coverage. Maybe we missed the good part of the
story, and maybe a mathematician can help us out here - but 25 times
crap equals
what? Sorry - do we sound like an annoyed pin cushion? Stay safe out
there and enjoy your day!
Average price of LME traded cash nickel
so far this month
- $9.19/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - London copper slides as dollar firms, stockpiles rise - more
Wednesday's market review - Copper rises on China
stimulus, easing Omicron fears - Copper prices rose for a third day on
Wednesday as China, the biggest consumer, stimulated its economy and
after Pfizer said a three-shot course of its vaccine could neutralize
the new Omicron coronavirus variant. - more
Will the News of Maintenance Stabilize Stainless Steel Prices? - The
stainless steel prices continued to fall in the past few days. - more
Russia’s Jan-Oct stainless steel exports drop, stainless steel scrap
exports hike y-o-y - According to statistics from the Russian Special
Steel and Alloys Consumers and Suppliers Association (USSA), Russia’s
stainless steel exports totaled around 10,200 tons in the first ten
months of this year, dropping by 7% compared to the same period a year
ago. - more
Blackstone restarts Ban Phuc nickel mine and concentrator - ASX-listed
Blackstone Minerals has recommenced mining at the company’s 90 per cent
owned Ta Khoa nickel project in northern Vietnam and has plans to
complete around 1,000 metres of development through the Ban Phuc
disseminated ore body, generating nickel ore typical of the life of
mine plant feed. - more
FPX Nickel has its sights on developing one of the world’s top 10
nickel mines - FPX Nickel Corp has revealed results from the first
phase of its metallurgical test program that it said demonstrates the
potential for a “significant increase” in nickel recovery at its
Baptiste project in British Columbia. - more
7 charts show Southern California's warehousing crunch - Easing the
chokepoint is a "balancing act" of labor, warehouse space and goods
movement, one expert said. - more
Port of Los Angeles’ Gene Seroka Sees Supply Chain Snarls Lasting to End-2022 - more
Five Lessons Learned for the Post-Pandemic Supply Chain - more
Major Outage at Amazon Disrupts Businesses Across the U.S. - more
Nickel closed Tuesday's trading
session at $9.14/lb ($20,160/tonne). Indicators at 6:00 am CST today show
nickel trading around $.05/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today just under the 110,000 tonne level. China is
reporting stainless steel production was recovering in November,
although still lower than November of last year. Both Russia and China
report YTD production levels are higher than 2020. Good news but
hopefully all stainless steel producers are seeing growth over 2020.
We noticed a new twist from China yesterday. See the article on Iron
Ore Port Inventory below and why the stockpiles are growing at their
ports. If you are bearish on nickel, you may want to ask Australian
mining billionaire Andrew Forrest why he is trying so hard to buy more nickel mines.
Of course he could be wrong, as well as all the other billionaires out
there trying to find nickel, but we suspect they know something. Stay
safe out there and enjoy your hump day!
Average price of LME traded cash nickel
so far this month
- $9.18/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Shanghai nickel buoyed by low stocks, posts best day in two weeks - more
A lifetime of savings with stainless steel - more
Stainless steel specialist course - more
Tuesday's market review - Copper buoyed by Chinese
monetary policy and imports - Copper prices rose on Tuesday after
monetary policy easing by China’s central bank and climbing imports
into the world’s top metals consumer. - more
The Volume of Scheduled Production Rebounded in December, and Stainless
Steel Fell Slightly on the 6th - According to the price monitoring of
SunSirs, the price of stainless steel fell slightly on the 6th, with a
price of 17,533.33 RMB/ton, down 0.57% from the previous trading day
and up 21.34% from the beginning of the year. - more
China Stainless Steel Output in November Advanced 14% MoM - According
to SMM survey, the domestic stainless steel output in November totalled
about 2.63 million mt, up 323,000 mt or 14% month-on-month and down
10.2% year-on-year. - more
Russia’s stainless output increases in October - Russia’s production of
stainless steel increased in January-October, show national statistical
service Rosstat data monitored by Kallanish. - more
Exclusive: China's Metals Output in November - This is a roundup of
China's metals output in November 2021, from an exclusive survey of key
producers by SMM analysts. - more
Iron Ore Port Inventory Rose for Ten Consecutive Weeks, Shipments from
Ports Continued to Decline - As of December 3, the iron ore inventories
across the 35 Chinese ports tracked by SMM totalled 150.41 million mt,
an increase of 1.66 million mt from the previous week and 29.35 million
mt year-on-year. - more
Andrew Forrest inches up at Western Areas - Andrew Forrest’s investment
vehicles seem to be ruffling some feathers among nickel miners and
processors in Western Australia. - more
The other side of electric cars: the pollution generated by the
production of their batteries - The lithium batteries used in electric
cars they need a chemical element called nickel that is extracted from
the earth’s surface through an excavation process that damages the
ecosystem in which it develops. - more
Toyota Announces Electrification Targets For Western Europe - more
Nickel closed Monday's trading
session at $8.99/lb ($19,825/tonne). Indicators at 6:00 am CST today show
nickel trading around $.14/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Monday and started today just under the 110,400 tonne level. Nickel
fell on Thursday, rose on Friday, fell on Monday, and is up this
morning. Remember riding on a see-saw as a kid? In other words, nickel
is going no where fast, but will test your suspension getting there. We
suspect looking for clues of what is going on in the China stainless
steel industry is a fool's errand these days. After the power cuts of
October started clearing up, the government started dictating closures
for January and February to keep the skies clear during the Olympics.
If you are having a bad day, just imagine being a plant manager in
Beijing these days. Until March of next year, we suspect any stats
about stainless steel coming out of China will be somewhat skewed. Speaking
of China, apparently one of their more sophisticated hacker groups call
themselves 'Nickel'. And Nickel just got hacked by Microsoft. Which
sounds more sinister - Nickel or Microsoft? Kind of like asking which
of these seven dwarfs would you hire - Sleepy, Dopey, or Grumpy? None
of the above! Stay safe out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $9.17/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper prices firm as China's monetary policy easing lends support - more
Monday's market review - Copper receives shot in the arm
from China's central bank - Copper prices got a boost on Monday after
top metals consumer China cut its reserve requirement for banks,
fanning hopes for stronger economic growth and industrial metals
demand. - more
Column: London nickel market tightens as China lifts imports: Andy Home
- London Metal Exchange (LME) nickel stocks have been falling
relentlessly since April of this year. - more
Global nickel smelting rebounds as Sudbury operations restart - Global
nickel smelting activity rebounded in November, powered by gains in
North America and Europe, while refined copper production dipped, data
from satellite surveillance showed on Monday. - more
Courtesy AISI - In the week ending on December 4, 2021, domestic raw
steel production was 1,807,000 net tons while the capability
utilization rate was 81.9 percent. Production was 1,616,000 net tons in
the week ending December 4, 2020 while the capability utilization then
was 73.1 percent. The current week production represents an 11.8
percent increase from the same period in the previous year. - more
Electric Trucks and Buses – No longer second fiddle to Electric Cars -
Electrification of light-duty vehicles is trending in many parts of the
world and is on track to become a consumer driven phenomenon but let’s
not forget the heavy-duty vehicles such as trucks and buses. - more
Severe Supply Disruptions Are Impeding Business Activity in the Region
- As the economy continues to recover from the pandemic recession, many
businesses are struggling to keep up with surging demand amid
widespread supply shortages and delays. - more
Nickel closed Friday's trading
session at $9.07/lb ($20,005/tonne). Indicators at 6:00 am CST today show
nickel trading around $.09/lb lower.
Stockpiles of nickel stored in LME licensed warehouses fell on
Friday and started this week just under the 110,700 tonne level. Nickel
closed above the $20,000 tonne level on Friday, but has surrendered
that level again this morning. China cut their banks reserve ratio to
encourage lending, while real estate developer Evergrande is warning of
a potential default again. Markets appear confused and
mixed. Stainless steel prices in China continue to fall, and since
200 series,
which is not dependent on nickel prices like 300 series is, is also
dropping, demand, or the lack thereof, appears to be a leading cause in
the price drop. A reduction in demand in the 300 series stainless, will
lower the need for nickel, and could cause a noticeable drop in the
trading price of nickel. That really hasn't happened yet (noticeable but not exaggerated),
so nickel traders appear to be looking beyond the daily headlines.
Stainless
steel stockpiles in China were down last week, with 200 and 400 series
actually higher, but not enough to offset the drop in 300
series. Overall production in October, the latest figures
available, show total stainless steel production in China was down
nearly 6.9%, with 300 series down nearly 2.3%. It would appear by the
numbers we are finding, that 200 and 400 series are suffering worse,
both in production and demand, than nickel containing 300 series is.
All of this is based on anecdotal evidence, so YMMV. On Friday, the seven day average of new
covid cases in the U.S. jumped
over the 100,000 new cases per day level. This is apparently being
caused by a resurgence of the Delta variant, as omicron has only
recently made its entry into the U.S. On the other side of the world,
South Africa, where the first case of omicron was diagnosed on November
25th, was averaging 313 new cases a day the prior week. This weekend,
that average was up to nearly 9,000 new cases per day, with actual
daily numbers from Friday and Saturday, nearly double 'that' figure. It
appears to be highly likely that the world is beginning another 'new
variant wave' (many European countries are already well into another Delta wave - some, like Germany, seeing their worse outbreak yet),
and regardless of how bad it may or may not get, there is a high
probability that volatility will continue to rule equity and commodity
markets.
Early indications, subject to further evidence, show omicron may be a
lot easier to spread than Delta, prior infection of covid offer minimal
or no protection, but Omicron may be less dangerous than Delta. As Lt
Lockhart put it in the movie Full Metal Jacket "It's a huge s--t
sandwich, and we're all gonna have to take a bite."
So stay safe out there and have a great week!
Average price of LME traded cash nickel
so far this month
- $9.21/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper gets shot in the arm from China central bank move - more
Friday's market review - Copper prices ease as dollar
clings on to gains - Copper eased on Friday as the dollar firmed
despite underwhelming U.S. jobs data that tempered expectations for a
quick monetary policy tightening, though supply issues limited losses.
- more
Has Stainless Steel Started to Decline? - There have been many
incidents in which steel mills cut their prices for many times on
market downturns. Even the use of hunger marketing cannot save the
stainless steel spot market. - more
China's crude steel production maintains steady growth - more
China Weekly Inventory Summary and Data Wrap (Dec 3) - (excerpt) The
nickel ore inventory at Chinese ports fell 169,000 wmt to 9.18 million
wmt as of December 3. Total Ni content stood at 72,100 mt. - more
China Manufacturing Improves as Power Shortages Ease - But the recovery
faces uncertainty due to the spread of the coronavirus’s omicron
variant. - more
Global Ni supply, demand growth likely in sync in 2022 - The world's
nickel supply and demand growth is very likely to be in sync in 2022,
given the development of new projects on both the nickel production and
consumption sides. - more
How metal fabricators make the most out of narrow margins - During a
late fall webcast, hosted by the Fabricators & Manufacturers
Association Intl. (FMA), Steve Zerio, a partner with Novi, Mich.-based
Triumph Partners, showed an eye-opening pie chart that broke down where
the sales dollars go at a typical custom metal fabricator. - more
Growth Of Electric Vehicles Endangering Rain Forests - NBC News
investigates how the growing efforts to mine nickel to help power
electric vehicles are putting rainforests across the world at risk.
It’s a reminder that even clean energy comes with an environmental
cost. - video here
Transport Groups Warn That ‘Knee-Jerk’ Reactions to Omicron Variant
Could Spark Worse Supply Chain Disruptions - Organizations and unions
from across the transportation sector are warning that world leaders’
knee-jerk reactions to the Omicron variant of COVID-19 are putting
transport workers and the global supply chain at greater risk of
collapse. - more
Container Premiums: Surcharges widespread amid equipment shortages, congestion - more
Nickel closed Thursday's trading
session at $9.05/lb ($19,960/tonne). Indicators at 6:20 am CST today show
nickel trading around $.04/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Thursday and started today's session just under the 112,600 tonne
level. Considering the last few months, and last weeks see saw
movements, this week has mostly been a yawner. Nickel prices have
'generally' spent most of their time trading between $19,900 and
$20,100/tonne, with the last four closings within a $50/tonne range. As
the omicron panic subsides, traders are beginning to get their appetite
for risk back, and nickel continuous falling stockpile numbers beckon.
The Winter Olympics takes place in Beijing, starting February 4th,
2022, and producers in the area have been ordered to limit or in some
cases, eliminate,
production during January and February, to cut down on the smog that
typically plagues the area. This could cause a further
reduction in Chinese steel production, and demand, in the first few
months of 2022. China begins its annual nationwide shutdown to
celebrate their
New Year on February 1st and 2022, the Year of the Tiger, so some
reduction was already anticipated. Heavy snows in Mongolia are causing
molybdenum prices to rise, so don't expect 316 stainless to shadow 304
stainless prices lower. Stay safe out there and have a great weekend!
Average price of LME traded cash nickel
so far this month
- $9.21/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Aluminium prices firm as China plans hiking coal contract prices - more
Thursday's market review - Copper rises as U.S. markets
shrug off Omicron fears - Copper prices rose on Thursday as strong U.S.
economic data and rising U.S. stock markets drew attention from
concerns that the spread of the Omicron coronavirus variant could
dampen demand. - more
The economy of high-nickel pig iron is gradually decreasing, and
subsequent prices are expected to decline - The scrap price cuts for
high nickel pig iron compared with scrap. This week, the price of
stainless steel fell, which led to a decline in the scrap market price.
- more
SHFE/LME Nickel Price Ratio Rallied - The SHFE/LME nickel price ratio
rallied this week after remaining sluggish for several consecutive
weeks. SMM believes that the resurgence of the COVID-19 pandemic has
triggered overseas concerns over the collapse in the demand. - more
John Anton: US steel prices to trend down in 2022 - Finished steel
prices in the US are expected to trend downward in 2022, according to
IHS Markit Director John Anton, which is good for buyers despite
certain dangers of disruption ahead. - more
Toyota turns to Chinese tech to reach its electric holy grail -
Toyota Motor Corp will launch an all-electric small sedan in China late
next year, having turned to local partner BYD for key technology to
finally make an affordable yet roomy runaround, four sources told
Reuters. - more
Global Plug-In Car Sales October 2021: Up 70% And At 8.8% Share - more
Rising Battery Costs Hit Carmakers, Threaten Climate-Change Push - more
Low Consumer Confidence in Supply Chains Prompts Early Holiday
Shopping, Research Reveals - Bright Data recently released new research
that reveals consumer sentiments around the 2021 holiday shopping
season, including Black Friday and Cyber Monday. - more
Nickel closed Wednesday's trading
session at $9.04/lb ($19,925/tonne). Indicators at 6:00 am CST today show
nickel trading around $.02/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and started today just over the 113,600 tonne level. Nickel
continues to trade the headlines and omicron news and until we know
more about this variant, markets likely will continue to do so.
Comparing the number of mutations in the Alpha, Delta, and Omicron
variants, the numbers make it obvious why scientists are concerned, but
mutations are not always a negative thing. Unless, of course, you are
making a movie in Hollywood. Your raw material monthly averages for
November
are as follows - Nickel dropped $.01/lb to $8.80/lb from $8.81/lb in
October / Molybdenum rose from $19.56/lb in October to $20.09/lb last
month / Chromium rose from $5.13/lb to $5.15/lb in November. We have
updated the four PMI's we follow (here)
and you will note that starting next month, we are dropping the Caixin
China number and going with the government's official number. If you
want to continue following the Caixin number, a link to their site is
posted at the bottom of the chart. Beginning of a new month means lots
of reports coming and more stats for the number crunchers. We will post
them as we find them so until then, stay safe out there and have a
great day! 23 days till Christmas and 29 days left in 2021.
Average price of LME traded cash nickel
so far this month
- $9.26/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Aluminium dips on Omicron fears, but low inventories cushion fall - more
Wednesday's market review - Copper retreats as Codelco
warns of lower prices - Copper prices lost steam on Wednesday after the
world's biggest producer Codelco warned of lower prices and surpluses,
reviving worries about weak demand from top consumer China. - more
Stainless Steel Spot Prices Dropped Further and Are Likely to Keep
Falling amid Sluggish Trade - The prices of 300-series
cold-rolled stainless steel fell significantly again in Foshan today. A
steel mill in south China lowered the prices sharply. - more
Indonesia drives global stainless steel output growth - MEPS has
upgraded its global crude stainless steel production forecast to 56.8
million tonnes, in 2021. - more
Packard Discusses Steel & Plate Prices & Steel Market Momentum
- Sometimes it is the little things that provide hints as to the
direction steel prices will take. - more
Benchmark Mineral Intelligence - Simon Moores's - forecasts - more
How an Arctic City Became One of the World's Most Polluted Places - In
Norilsk, the northernmost city in the world, the Arctic is warming
twice as fast as the rest of the world, but the permafrost and
structural problems have not been caused by climate change alone. - more
Nornickel sets ambitious annual production goals for the next decade - more
Why Toyota Still Uses Ancient Nickel Metal Hydride Technology In
Hybrids - Toyota plans on having all of its vehicles in a hybrid form
by 2025. Included in the 2021 model year is the Toyota Sienna Hybrid
option. - more
Europe: Plug-In Cars Continue To Expand Market Share In October 2021 - more
Manufacturing output sees growth in November, reports ISM -
Manufacturing output, for the month of November was up slightly over
October, remaining on a strong growth path, according to data issued
today by the Institute for Supply Management (ISM). - more
NBS: China Nov manufacturing PMI back to expansion zone - more
ID's November M&A Recap: Another Huge Month - more
Stocks Fall as Apple Knocks Tech; Treasuries Dip: Markets Wrap - more
Nickel closed Tuesday's trading
session at $9.03/lb ($19,910/tonne). Indicators at 6:00 am CST today show
nickel trading around $.10/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Tuesday and started today at 114,114 tonnes. Interesting
number - like 1-2, 1-2, 0, 2-1 on the calendar today. The Omicron panic
is subdued today and investors are starting to see a future worth
investing in once again. This optimism may last hours, or days, but we
suspect the fear factor will rule the markets for awhile. China's
official manufacturing PMI surprised on the positive side yesterday,
while the Caixin numbers show a slowing, falling from 50.6 to 49.9 last
month. We wish we understood the Caixin formula better as they seem to
show signs of a disconnect from what is really going on the last few
months. The EU gave the marriage between Aperam and site sponsor ELG
the green light. The Berong nickel mine in the Philippines has come to
an end, having depleted its resources. And the U.S. Fed seems to be
lost on how slow down inflation in the face of the new virus strain. We
want to thank Duraloy Technologies for
sponsoring multiple months in 2021, including the month of November.
For our December sponsor, we welcome back P. A. Inc. We encourage you
to visit their website and see what services they have to offer your
company. And we
thank them for being a sponsor. We will see a lot of P.A. in 2022, but
more on that next month. If you are interested in being a monthly
sponsor, we have side banner slots open for 2022. The banner,
sized 120
X 200 pixels, can be posted on the month of your choice for $100. This
year, ELG Metals advertised a side banner all twelve months, becoming
our first annual sponsor. If you want to sponsor a month, please
contact us at info at estainlesssteel.com and put 'stainless steel' in
the heading to get past our spam filters. Our sponsors keep this daily
update free for regulars and guests and we thank them for their
support. Stay safe out there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $9.05/lb (November average)
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - London copper rises as Omicron concerns ease - more
Tuesday's market review - Copper hits two-week low on
Omicron uncertainty and Fed comments - Copper prices fell to a two-week
low on Tuesday as worries about the damage to demand and economic
growth from the Omicron coronavirus variant and monetary policy
tightening in the United States weighed on sentiment - more
South Korea’s cold-rolled stainless steel exports increase in Oct -
According to the statistic from South Korea, the total exports of
cold-rolled stainless steel in South Korea this October were around
37,400 tons, increased by around 1.6% month on month, the total value
was around US$118 million, increased by nearly 0.4% from September. - more
Aperam gets EU green light for acquisition of recycling group ELG -
Aperam’s proposed acquisition of German stainless steel and alloys
recycling group ELG has been approved by the European Commission, the
Luxembourg-based stainless steel producer said Nov. 26. - more
EU stainless CR coil prices climb as supply tightens - Stainless steel
market participants remain cautiously optimistic regarding demand in
2022. - more
DMCI Holdings Press Release - (excerpt) The Berong mine opened in
October 2006 and is expected to be fully depleted by year-end. - more
Depleted Berong Nickel‘s old mine to be rehabilitated - more
Huayou's Indonesia nickel JV starts trial production - China's Zhejiang
Huayou Cobalt said on Wednesday its PT Huayue nickel and cobalt
smelting joint venture (JV) in Indonesia has successfully churned out
its first output after recently commencing trial production. - more
What Exactly Is Stainless Steel Fabrication? - Did you know that Canada
supplies steel to more than 130 nations and territories worldwide? - more
Service Centers Rate the Mills - The past 12 months were among the most
difficult for the steel production industry, as demonstrated by the
results from the 20th installment of MCN’s Rate the Mills from Jacobson
& Associates. - more
The Cutting Edge-Fall 2021 - The Cutting Edge is a supplement to the
Metal Center News November 2021 issue. This annual supplement gives an
overview of important information related to cutting and sawing
performed by metal service centers and fabricators. - online here
Pop-Up Container Yards Offer Pressure Valve for Port Congestion -
Walmart has developed an empty space near the ports of Los Angeles and
Long Beach into a pop-up container yard. - more
Marine Exchange: New Ship Queueing Process at Los Angeles and Long Beach is Working - more
(all
ton listings are metric tons = 2204.622 pounds ) Updated Monday thru
Thursday before 7 am CST, Friday version before 8 am CST - DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on
this page are indications only. Please note - for real time and
official LME
prices, LME requires a user subscribe to an authorized LME vendor.
Daily Nickel/Stainless Steel Briefing 
($20,585/tonne). Indicators at 5:45 am CST today show
nickel trading around $.13/lb 
Reports
Shanghai Metals Market
London Metals Market
Aperam Completes Acquisition Of ELG - Aperam, announced Monday the
completion of the acquisition of ELG, a global leader in
stainless steel and superalloys recycling. - 
DOF backs lifting of open-pit mining ban - The Department of Finance
said Thursday it supports the lifting of the ban on open-mining as this
would enable the industry to become a key contributor to economic
recovery. - 
2021
Review: Battery Metals Have Enchanted the Market - There’s simply no
other way to put it. Battery metals are red hot now as the world
continues to charge headlong towards electrification and zero carbon
emissions. - 
Other News
Asian steel output remains firm outside of China - Asian crude steel
output fell further in November on the continued cut back in output in
China, according to World Steel Association data. - 
Increasing Production, Enhancing Raw Material Security Focus Areas For
Steel Sector In 2022 - Increasing per capita steel consumption and
production of special steel as well as enhancing raw material security
will remain the key focus areas of the Indian Government. - 
Taiwan’s stainless steel screw industry facing surging costs - LME
nickel price has remained high over the US$20,000/ton level so far
yesterday (December 28), which led to high costs of nickel-containing
stainless steel screws. - 
Why Stainless Steel 
US,
EU target Oct 2023 to wrap up global steel, aluminum negotiations:
Biden - The US and EU will seek to conclude negotiations by Oct. 31,
2023, on global steel and aluminum arrangements to restore
market-oriented conditions and support the reduction of carbon
intensity across modes of steel and aluminum production, according to a
proclamation issued by President Joe Biden. - 
Courtesy AISI - In the week ending on December 25, 2021, domestic raw
steel production was 1,802,000 net tons while the capability
utilization rate was 81.6 percent. Production was 1,612,000 net tons in
the week ending December 25, 2020 while the capability utilization then
was 72.9 percent. The current week production represents an 11.8
percent increase from the same period in the previous year. - 
Japan’s NSSC hikes nickel-based & chrome-based stainless steel wire
rod prices - Nippon Steel Stainless Steel Corp (NSSC), the largest
stainless steel producer in Japan, announced its price adjustment of
stainless steel wire rods signed from December 2021 to February 2022
with a delivery from January to March 2022. - 
November 2021 crude steel production - World crude steel production for
the 64 countries reporting to the World Steel Association (worldsteel)
was 143.3 million tonnes (Mt) in November 2021, a 9.9% decrease
compared to November 2020. - 
Australia’s Wyloo Metals hopes to have Ring of Fire nickel mine, access
road by 2026 - Wyloo Metals Pty Ltd., the winner of a fierce bidding
war for Noront Resources Ltd., hopes to have a large nickel mine in
operation in the Ring of Fire, and an access road built into the remote
minerals district in northern Ontario, within five years. - 
Taiwan’s domestic demand remains strong, Yusco & Tang Eng benefited
- According to the high nickel price in the world, the current nickel
price stayed in a high class with around US$20,000/ton, benefited by
the increasing stainless steel demand from the market. - 
BHP won't match Wyloo's takeover offer for Canadian nickel miner Noront
- BHP Group said on Tuesday it would not match a takeover offer by
billionaire Andrew Forrest's Wyloo Metals for Noront Resources Ltd,
essentially bowing out from a months-long tussle for the Canadian
nickel miner. - 
Nickel oxide is a material that can ‘learn’ like animals and could help
further artificial intelligence research - A unique material, nickel
oxide demonstrates the ability to learn things about its environment in
a way that emulates the most basic learning abilities of animals, as my
colleagues and I describe in a new paper. - 
Eramet targeted by a financial fraud - Eramet has identified a
financial fraud within its central treasury management. Eramet has
immediately initiated the necessary investigations and mobilized all
internal and external resources required to terminate these fraudulent
activities and take remedial action. - 
Singaporean spent millions on cars, jewels with nickel fraud loot,
charges say - A Singapore businessman used gains from a billion-dollar
nickel trading scam to buy luxury cars, property, artwork and jewelery
worth tens of millions of dollars, according to charges filed against
him by public prosecutors on Monday. - 
Ukraine Imports Of Nickel Goes Down By 22% In Jan-Nov - Ukraine in
January-November this year reduced imports of nickel ores and
concentrate by 21.6% compared to the same period last year, to 1.134
million tonnes. - 
Russia’s stainless exports to EAEU decreases - Russia’s exports of
stainless steel to Eurasian Economic Union (EAEU) countries decreased
in January-October, says national special steel association USSA. - 
Australia battery metals players eye S. Korea market prospects -
Australian producers of battery metals hope to out-muscle China and
become a key supplier to Korea for electric vehicles, they said on
Tuesday after a meeting with South Korea's president in Sydney. - 
Blackstone restarts Ban Phuc nickel mine and concentrator - ASX-listed
Blackstone Minerals has recommenced mining at the company’s 90 per cent
owned Ta Khoa nickel project in northern Vietnam and has plans to
complete around 1,000 metres of development through the Ban Phuc
disseminated ore body, generating nickel ore typical of the life of
mine plant feed. - 
