This
page is archived news covering the period of February 2013
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Thursday, February 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$7.62/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mostly lower, Stockpiles of nickel stored
in LME approved warehouses rose again on Wednesday and now total just under
the 158,000 tonne level. Nickel bounced back above the $7.57/lb support level
yesterday and is holding above it so far today. Two consecutive closes below
this level would imply the downward trend in pricing could return. Holding
about it sends a technical signal that buyers may be showing renewed
interest.Most other technical signals remain negative however. The Euro is
trading slightly lower against the US Dollar, and European equity markets
are higher for a second day. The shock of the indecisive Italian election
is wearing off and warnings that the US sequester will slow US economic growth
appear to falling on deaf ears.
Average price of cash nickel so far this month - $8.07/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
(LGMI) According to China Iron and Steel Association, the daily crude steel
production of its members in mid February was 1.7186 million tonnes, up 1.01%
or 17,200 tonnes from that in early February.
Iron ore demand seen climbing, but not prices: expert -
more
Chrome ore
firms up in auction, rises over 50% - Chrome ore prices rose sharply in the
latest auction conducted by the Odisha Mining Corporation (OMC), the state
government-run mining company, due to ferrochrome supply problems in
international markets and ore supply issues in the domestic market, sources
said. -
more
Midnight
Strike Deadline - Xstrata Nickel and United Steelworkers Local 2020 continued
to bargain Wednesday evening as the clock ticked down to the union's strike
deadline Thursday at midnight. -
more
Vale Had
Wider-Than-Forecast Loss on $5.7 Billion Writedowns - Vale SA, the world’s
largest iron- ore producer, reported a record quarterly loss that was wider
than analyst forecasts after writing down the value of some nickel, coal
and steel assets amid lower commodity prices. -
more
Clive
Palmer's Titanic II Is Something New, A Reenactment Of The 20th Century -
I have been surprised since I first wrote about Australian mining magnate
Clive Palmer‘s ambition to rebuild the Titanic, almost a year ago, at
how much interest there has been in the topic. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, February 27
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$7.55/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mostly higher and quietly. Stockpiles of
nickel stored in LME approved warehouses rose for a fourth day on Tuesday
and now totals just over the 157,800 tonnes level. Euro is trading higher
this morning after Italian borrowing costs did not rise to levels feared
this morning. European equities are trading higher as well, with crisis fears
back in the lime light, but for today at least, a sigh of relief. US
futures are higher with traders once again looking at the 14,000 level on
the Dow as a psychological barrier it an't seem to punch thru. Fed Chairman
Ben Bernanke is giving his semi annual report before Congress for a second
day, and he dropped no bomb shells yesterday, and affirmed his commitment
to further economic stimulation by the Fed. Nickel fell below support at
$7.57/lb yesterday and a second close below that level, could signal further
declines. Next support at $7.18/lb , strong resistance at $8.00/lb.
Average price of cash nickel so far this month - $8.10/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
(Interfax) Nickel prices have suffered a marked decline since the Chinese
New Year holiday, confounding expectations of a recovery on the back of seasonal
demand. Analysts believe further decreases possible with some predicting
prices will test a six-month low in the short-term.
Northern Shield enters into earn-in agreement for Greenland project -
more
China’s fastener Output Sees 1.5% Decline in 2012 -
more
China Crude
Stainless Steel 2012 Output Up Year-On-Year - Stainless Steel Council of
China Special Steel Enterprises Association released production of crude
stainless steel in China during the calendar year of 2012 being 16.087 million
tons, up 14.2% from 2011, together with imports/exports of SUS products during
2012. -
more
BHP hits
$4 billion nickel 'jackpot' - Global mining giant BHP Billiton says it has
hit upon a $4 billion nickel “jackpot” in Western Australia that
will redefine their struggling nickel business. -
more
Putin Ally
Chemezov Likely to Join Norilsk Board - Russian Technologies head Sergei
Chemezov is likely to get a seat on Norilsk Nickel's new board of directors
after majority owners agreed to support his candidacy at the upcoming shareholder
meeting, sources close to the nickel giant's biggest shareholders said Tuesday.
- more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, February 26
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.58/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals trading lower this morning. Stockpiles of nickel
stored in LME approved warehouses rose by over 1250 tonnes yesterday and
now total just over the 156,800 tonne level. Markets started off positive
yesterday but when it became clear the Italian elections were not going to
go the way the markets hoped, the Euro took a dive and base metals, as well
as equities, headed south as well. Markets are mostly taking a breath this
morning, and while European equities are lower, the Euro is up slightly.
US futures are higher as well.
Average price of cash nickel so far this month - $8.13/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
(MB) China's nickel ore imports down 34% in January
A neutral ENSO state likely for the next season -
more
Glencore’s CEO Says Rival Mining Chiefs ‘Really Screwed Up’
- Glencore International Plc (GLEN)’s billionaire Chief Executive Officer
Ivan Glasenberg criticized his recently departed mining CEO peers for swamping
the industry with mines and new production that’s crimped profits. -
more
Xstrata Nickel denies US$100M tax dodge at Dominican mine - The miner
Xstrata Nickel Falcondo, which exploits ferronickel sites in central
Monseñor Noel province, said a difference in prices between the reports
submitted to the Dominican government and its parent company result from
calculations made according to the operation period and isn’t an
undervaluation which cuts tax payments. -
more
BHP nickel
flip? - As BHP Billiton talks up a potentially transformative nickel discovery
in Western Australia, the miner appears to be getting closer to what could
be the spin-off of the year. -
more
U.S. Molybdenum
Ores/Concentrates 2012 Imports/Exports - According to the the trade statistics
released by U.S. Department of Commerce, the imports and exports of molybdenum
ores and concentrates during the calendar year of 2012 were as per the table
attached hereto. -
more
Extreme pollution
from nickel plants - Monday was not a good day for people with respiratory
problems in the industrial towns of Nickel and Zapolyarny. Sulfur dioxide
pollution exceeded maximum allowed levels by 3 to 5 times. -
more
Big
change needed to save nickel producers - The majority of Australia's nickel
producers continue to struggle to turn a healthy profit, and analysts say
there is little relief in sight unless there is a fundamental change, such
as BHP Billiton closing its West Australian operations. -
more
Courtesy AISI
- In the week ending February 23, 2013, domestic raw steel production was
1,843,000 net tons while the capability utilization rate was 76.9 percent.
Production was 2,007,000 tons in the week ending February 23, 2012, while
the capability utilization then was 80.7 percent. The current week production
represents a 8.2 percent decrease from the same period in the previous year.
Production for the week ending February 23, 2013 is up 1.6 percent from the
previous week ending February 16, 2013 when production was 1,814,000 tons
and the rate of capability utilization was 75.7 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, February 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$7.70/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
approved warehouses rose by over 1000 tonnes on Friday and now total just
over the 155,500 tonne level. Nickel opened lower this morning and appeared
to want to return to the downward trend of last week, but a higher Euro and
optimism in equity markets seems to putting a damper on the negative vibes
amongst nickel traders. No industry news to give momentum either way, except
for the continuing growth in nickel stockpiles. Moody's late Friday downgrade
of Great Britain 's credit rating appears to be getting shrugged off by world
traders. European markets are higher this morning and US futures are higher
as well. Italian election results are being watch ed closely today, as will
Fed Chairman Ben Bernanke's Congressional hearing testimony he will be giving
on Tuesday and Wednesday.
Average price of cash nickel so far this month - $8.17/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
(SO) Colombian ferronickel exports up 31.4 percent in 2012
(Australia) Cyclone Rusty intensifies in North West -
more
CRSI Answers FAQs about Stainless Steel Reinforcing Bars -
more
South
Africa High-Carbon FeCr 2012 Exports Down 15% Year-On-Year = 2.670 million
tons, down 14.8% y-o-y; medium/low-carbon FeCr exports were 32,114 tons,
down 40.7% y-o-y = According to South African Revenue Service, exports of
charge chrome (high-carbon ferrochrome containing more than 4% of carbon)
during 2012 were 2,689,883 tons, down 14.8% from 3,157,847 tons in 2011.
-
more
Rankings
of stainless steel suppliers for 2012 - According to our assessment, over
250 companies are engaged in the stainless steel trade on the Russian market.
However the available information about their activities and transparency
leaves much to be desired. Under such conditions it is hard for end-users
to make the right decision. -
more
Tati Nickel
Mining Company recently donated P15, 000 worth of reflective vests and other
road signs to the Botswana Police Service in an effort to assist teachers
in Francistown curb road accidents among school children. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, February 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.54/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
, with most other London
traded base metals trading sideways. Stockpiles of nickel stored in lME approved
warehouses rose on Thursday and now totals 154,500 tonnes. The nickel rout
continued yesterday and bargain hunters have entered the market today.
Technically, nickel is in well oversold territory so a bounce is to be expected.
Whether it holds and stops the downward trend or turns out to be nothing
more than a dead cat bounce, remains to be seen. Europe equity markets are
also seeing some bargain hunting after two down days, and US futures appear
to be setting up to follow suit. Nickel ended last week at $8.30/lb, already
off highs from earlier in the month, but in a holding pattern as China spent
the week on holiday. China re-opened Monday and nickel went into a freefall
for the first part of the week. Many China factories will fire back up to
full production next week and it will be interesting to see where nickel
prices go in the coming weeks. If the pessimism of last year returns, we
are seeing the beginning of a downward trend that could last thru early summer.
Have a safe and restful weekend!
Average price of cash nickel so far this month - $8.20/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
DJ Western Areas Profit Slumps on Weak Nickel Prices, Impairment Charge -
more
(MF) China’s crude stainless steel production increases by 14.17% in
2013
(SSY) China's crude steel production rose to its highest daily rate since
October at 1.989 Mt in the first 10 days of February, according to data from
the China Iron & Steel Association member companies. Production is 15%
higher than during the corresponding period last year.
Norilsk
to close Lake Johnston - Russian mining giant Norilsk Nickel is on the verge
of closing its only remaining Australian mine, with Australian managing director
Edwin van Leeuwen warning staff that its Lake Johnston operation will close
in April if a buyer is not found. -
more
Prices Of
CR Ferritic Stainless Sheets To $1,550 CFR, Up $50 - The overseas market
prices of cold-rolled (CR) ferritic stainless steel sheets are rising. They
rose by $50 to the level of $1,550 CFR on type 430 basis of general use from
late January to the middle of February. -
more
Japan's 2012
Hot-Rolled SUS Production Down Year-On-Year = 2,819,000 tons down 3.8% from
2011; both Cr-alloyed group and Ni-alloyed group down = According to the
data released by Ministry of Economy, Trade and Industry on February 15,
details of the output of hot-rolled stainless steel during the calendar year
of 2012 as well as in the single month of December 2012 are as per the table
attached hereto. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, February 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$7.79/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.21/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses added insult to injury today, adding nearly 1100
tonnes on Wednesday and now totaling just shy of 154,400 tonnes. Nickel closed
below support for a second time yesterday, sending a technical signal that
the market was heading lower. And today proves every once i awhile the technicals
send a correct signal. It appears that traders cant unload their nickel stock
fast enough. Nickel is now trading well below the 100 moving day average,
with the next strong support line clear down at $7.17/lb. As prices fall,
cancelled warrants fall as well, and have registered below 14% for the last
few days. It's hard to say where nickel is heading from here. The trend has
shifted south, much like year after the China New Year holiday. Whether nickel
completely deflates like last year, or we see some stability in the near
future, remains to be seen. From a fundamental standpoint, the increasing
inventories is adding negative pressure on the price, although as seen by
the last few months price increase, fundamentals mean far less than investor
allocation. Interesting days ahead.
Average price of cash nickel so far this month - $8.25/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
(WBMS) The global nickel market was in a surplus of 117,000 metric tons over
the course of 2012, the World Bureau of Metal Statistics said Wednesday.
This compares with a 3,100 ton deficit over the whole of 2011.
(SSY) Global steel production in January registered both monthly (+3.0%)
and annual (+0.8%) increases to total 124.8 Mt, according to the World Steel
Association. This represented the highest monthly amount produced since October
2012. Virtually all of the year-on-year growth was accounted for by China,
which produced 2.6 Mt more than in January 2012 at 59.3.
Oil, metals on defensive; Fed sets investors on edge -
more
European markets down on FOMC, Chinese controls and EMU PMI -
more
Rio Tinto delays
production because of falling market prices - Rio Tinto officials said Tuesday
they plan to shift first production of nickel and copper at the company's
Eagle Mine and Humboldt Mill to the second half of 2014. -
more
Japan Ferroalloy
Import Market Report - February 15, 2013 = The prices for bulk ferroalloys
to be delivered to EF mills during March depend upon Yen/US$ rate changes
= The market situation in Japan of ferroalloy imports as of February 15 is
as follows. -
more
New
Caledonia Nickel Mining Industry Issues Remain - New Caledonia’s nickel
industry is being transformed as new joint ventures and exports to Asia challenge
France’s control of the strategic minerals sector. -
more
Norilsk
Recommends Three Independent Board Directors - Russian mining giant Norilsk
Nickel (GMKN.RS) Thursday recommended three people to sit as independent
directors on the company's board as the firm works to implement a recent
settlement that ended a bruising shareholder dispute. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, February 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$8.02/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with most
other London traded base metals trading sideways. Stockpiles of nickel stored
in LME approved warehouses fell on Tuesday and now total just over the 153,300
tonne level. Bloomberg is reporting "The 100-day historical volatility in
LME three-month .... nickel dropped to 21.5 percent on Feb. 15, the lowest
in at least 10 years." Please note that is a volatility index, not the price.
Ten years ago today, cash nickel was trading at $3.98/lb. The big dip in
the price of nickel over the last two days has taken a breather today.
Nickel closed below a support line at $8.05/lb yesterday and another close
today could send a negative technical signal. European equity markets are
mixed this morning and US futures are sending no directional signal. Could
be a quiet market day.
Average price of cash nickel so far this month - $8.28/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
(SSY) Russia's crude steel production fell 5.8% year-on-year in January to
5.7 Mt, according to the State Statistics Committee of Russia. Production
also fell 2.4% month-on-month.
(SSW) The International Stainless Steel Forum (ISSF) has appointed John Rowe
as Secretary General and member of its Executive Board. He is replacing Pascal
Payet-Gaspard, who stepped down at the end of 2012. John was formerly CEO
of the ThyssenKrupp Group, as well as Vice Chairman of the Shanghai Association
of Enterprises with Foreign Investment.
BHP Billiton
names base metals chief as new CEO - Top global miner BHP Billiton appointed
the head of its base metals business as its new chief executive on Wednesday
to replace Marius Kloppers, who will step down in May. -
more
Aperam forms
joint venture to bid for Outokumpu's Terni - Luxembourg-based stainless steel
maker Aperam has teamed up with two Italian peers to bid for Outokumpu's
Terni plant in Italy, boosting hopes the Finnish company will find a buyer
for the mill. -
more
Japan Crude
Stainless Steel 2012 Production Down Year-on-year = Down 2.1% to 3,509,940
tons, while December production up 8.0% from November = Crude stainless steel
production in 2012 by the 7 major Japanese stainless steel mills was 3,509,940
tons, down 2.1% from 3,583,962 tons recorded in 2011. -
more
Service Center
Shipments Down in January - Service center shipments of steel and aluminum
were down in January in both the United States and Canada, according to the
first Metals Activity Report of 2013 from the Metals Service Center Institute,
Rolling Meadows, Ill. -
more
Selling
nickel to Asia – New Caledonian mining challenge to French control -
New Caledonia’s nickel industry is being transformed as new joint ventures
and exports to Asia challenge France’s control of the strategic minerals
sector. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, February 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$8.10/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.10/lb
lower, with other
London traded base metals all trading lower. Stockpiles of nickel store din
LME approved warehouses rose slightly on Monday and now totals just shy of
the 153,400 tonne level. Nickel has fallen below its 20 day moving average
and is trading below support at the moment. As the market is oversold, and
there is no real 'news' that is driving the market one way or the other,
we believe technical signals will put a stop to this slide, or at the very
least, put a halt to it and potentially recover some of the weeks losses.
There was really no fundamental driven reason in the climb over the $8/lb
level we have seen over the last few weeks, so how long it holds, has become
questionable.
Average price of cash nickel so far this month - $8.31/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
(SSY) According to the German Steel Federation, Germany's crude steel production
enjoyed a reasonably strong start to 2013, rising 18% to 3.6 Mt in January
from the previous month. Production in January also grew 7% year on year.
EUROFER disappointed by ENVI decision on backloading -
more
EU applies AD duty on stainless steel fasteners from Philippines -
more
U.S. Nickel
Scrap 2012 Exports Down Year-On-Year = Down 20.8% from 2011 = According to
the statistics released by the U.S. Department of Commerce, exports from
the U.S.A. of nickel scraps during 2012 as well as in the single month of
December were as per the table attached hereto. -
more
Western
Areas strikes alliance with Jinchuan - Nickel miner Western Areas has struck
a strategic alliance with its main Chinese customer Jinchuan to explore mining
opportunities around the world. -
more
New
Caledonia: Selling nickel to Asia - New Caledonia’s nickel industry
is being transformed as new joint ventures and exports to Asia challenge
France’s control of the strategic minerals sector. -
more
Harry Brearley
Stainless Steel Centenary Conference & Exhibition - A conference and
exhibition on the theme 'The Development and Application of Stainless Steels'
will be held 11-13 June in Sheffield UK. -
more
How
A Greenland Asteroid Crater Could Become The Next Big Nickel Region - It's
not every day that you get to explore for nickel in a crater formed by an
ancient meteor strike, but that's exactly what North American Nickel is doing
at its Maniitsoq project in Greenland. -
more
Courtesy AISI
- In the week ending February 16, 2013, domestic raw steel production was
1,814,000 net tons while the capability utilization rate was 75.7 percent.
Production was 2,007,000 tons in the week ending February 16, 2012, while
the capability utilization then was 80.7 percent. The current week production
represents a 9.6 percent decrease from the same period in the previous year.
Production for the week ending February 16, 2013 is down 0.4 percent from
the previous week ending February 9, 2013 when production was 1,822,000 tons
and the rate of capability utilization was 76.1 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, February 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$8.34/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.16/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell o Friday and now totals just over the 153,250
tonne level. Nickel is trading lower as part of more broad based sell off,
as China returns to work. Nicholas Snowdon, an analyst at Barclays Plc in
New York told Bloomberg, “On the demand side, there’s nothing
supporting the prices we’ve seen.....Some correction is justified."
The Euro is quiet today and is adding neither support, nor resistance to
today's metals trading. European equity markets are mostly lower, while US
markets are closed for Presidents Day.
(SSY) According to the latest SteelBenchmarker published by World Steel Dynamics,
the world export price of hot rolled band was up by $14/t from end-January
to $592/t. Although this is the highest level since mid-July 2012, it was
down $50/t year-on-year.
(CF) For the second straight month, both exports and imports of U.S. fasteners
fell in December. Imports of U.S. fasteners in December dropped 3% to
$344,782,852, while exports of U.S. fasteners in December fell 13%
to$243,089,653.
China's
non-ferrous metal production slows in 2012 - China's non-ferrous metal production
expanded at a slower pace last year compared with a year earlier, according
to new data. -
more
Chrome Ore
Exports From Turkey - January 2013 = Up 18.6% from the preceding month; exports
to China recovered = Turkey's exports of chrome ore during January 2013 were
as per the attached table hereto. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, February 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$8.28/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
, with other London
traded base metals trading slightly higher as well. Stockpiles of nickel
stored in LME approved warehouses fell again on Thursday and now totals just
shy of the 153,500 tonne level. European markets are recovering at the moment,
while the Euro is trading lower against the US Dollar. Nickel traders have
yet to take any risks this week and appear to be waiting for China to return
to work next week, before they make any sizeable moves. For now, nickel continues
to trade within its sideways trend. Have a safe and restful weekend!
CRU - Nickel: Prices rise into February - Ferrochrome: Prices continue to
trend higher -Molybdenum: Prices fall back from January highs
(SSY) According to the American Iron and Steel Institute, US steel exports
set a record in 2012 rising 2.2% to 13.7 Mt. However, December saw exports
fall 19.3% to 0.9 Mt from 1.1 Mt in the corresponding period last year.
Euro zone may contract 0.2-0.3 percent in 2013: ECB's Nowotny -
more
Edwards Says
Mining Boom Yet to Come as Output Set to Rise - Reserve Bank of Australia
board member John Edwards said higher mining output may support gross domestic
product growth even after resource investment peaks. -
more
Xstrata Nickel,
USW Local 2020 in bargaining - Negotiating teams for Xstrata Nickel and United
Steelworkers Local 2020 are 10 days into bargaining for a new collective
agreement for about 225 office, clerical and technical employees, in advance
of the Feb. 28 expiration of their current contract. -
more
Russia's
Norilsk says may work with traders after years of ban - Norilsk Nickel may
start working with Glencore or Trafigura to penetrate new markets, the Russian
mining major said, signalling a thaw after years of refusing to do business
with large trading houses. -
more
Russian
group’s African operations show significant production increases - Russian
major mining group MMC Norilsk Nickel’s African operations delivered
significant increases in output last year, helping boost the company’s
global nickel production by 2%, compared with 2011. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, February 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$8.33/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other London
traded base metals trading mixed and mostly quiet. Stockpiles of nickel stored
in LME approved warehouses fell for a second consecutive day and now total
just over the 153,700 tonne level. Nickel is holding up well considering
the Euro is down sharply on reports showing economies in Germany and France
fell more deeply than expected in the final quarter of 2012. This news has
European equity markets trading lower this morning, and has driven US futures
lower as well. The average cash price of nickel slipped a penny to $8.33/lb
for the month so far, compared to $7.92/lb last month, $9.28/lb in February
2012, and $3.91/lb in February 2003. We expect nickel's sideway trend to
continue today.
Russia's Norilsk seeks slice of huge copper deposit -
more
ENRC
Ore/Ferroalloy 2012 Production Results = 3,730,000 tons of Cr ore, up 4.6%
from 2011, while 954,000 tons of Mn ore, down 5.5% from 2011= Results of
production by ENRC (Eurasian Natural Resources Corporation PLC) during the
year of 2012 as well as in the Q4 (October - December) of 2012 were released
last week. -
more
Mirabela
expects $370m write-down - Nickel miner Mirabela expects to write down the
value of its Brazilian Santa Rita assets by $US380 million ($A369.34 million)
and possibly more. -
more
Talvivaara
‘Quite Confident’ on Rights Vote to Ward Off Collapse - Talvivaara
Mining Co. Ltd. said it’s “quite confident” shareholders will
approve a rights offer to stave off default and bankruptcy at the Finnish
nickel miner. -
more
Asteroid Worth $195B; Iron, Nickel And Ice Invaluable To Deep Space Exploration
Says Mining Exec - The near-miss asteroid zipping past Earth on Friday might
one day have to pay a toll for coming so close. -
more
Future of
the European steel industry: time to translate good intentions into action
- EUROFER is satisfied with many aspects and findings in the recommendations
of the High level Roundtable on the future of the European Steel Industry,
published on February 12, 2013. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, February 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$8.33/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell on Tuesday and now totals just over the 153,900
tonne level. The Euro is trading higher this morning after it was reported
European industrial production rose in December. This is giving base metals
trading positive momentum, with little else providing direction. Asian markets
remain closed for the week, and we might see more speculative rise before
the weekend, but trading remains in a sideways trend. So far this month,
the cash price of nickel has increased from $7.92/lb in January to an average
of $8.34/lb.
(Bloomberg) Cerro Matoso is world's number two producer of ferronickel, according
to BHP Billiton's website. A strike at the mine five years ago contributed
to a 16% increase in the price of nickel during the first quarter of 2008.
Rusal Intends to Direct Norilsk Nickel dividends to Repay Loans -
more
Miner Talvivaara
seen seeking cash after costly leak - Nickel miner Talvivaara is expected
to announce plans to raise up to 200 million euros ($268 million) this week,
possibly via a share sale, to tide itself over until production recovers
from a costly waste-water leak. -
more
Japan SUS
Scrap Price Further Up = Further up by almost Yen10,000/ton, reflecting the
LME nickel price rise and the weakened Yen = The price in Japan for
nickel-alloyed stainless steel scraps (new clippings) for deliveries during
February continues rising, mostly because of even weaker Yen and the sharp
rise in LME nickel price due to speculative buying on the signs of firming
up of the economic in Europe and U.S. -
more
Ground-Breaking Ceremony Marks The Start Of Antam's Expansion Of Pomalaa
Ferronickel Plant Project - PT ANTAM Tbk is pleased to announce the
ground-breaking ceremony of the Expansion of Pomalaa Ferronickel Plant project
(P2F), at Pomalaa, Southeast Sulawesi. The ground-breaking ceremony was held
on Thursday, February 7th, 2013, at the first piling site of the coal fired
power plant in Pomalaa. -
more
Mwana Africa
says Trojan mine in production readiness - Mwana Africa said its Trojan Nickel
Mine in Zimbabwe has been returned to a state of production readiness, on
time and on budget. -
more
US steel exports
set record in 2012, despite year-end slowdown - Steel export volume from
the United States rose 2.2 percent in 2012 to a record high, but a slowdown
in the last two months of the year raised concerns about 2013 business
opportunities, a steel trade association said on Tuesday.-
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, February 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$8.31/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose for the third consecutive session and now
totals just over the 154,100 tonne level. The Euro is trading higher this
morning and that is giving metals trading some positive momentum. Most Asian
markets remain closed for the week. The nickel industry is looking at a potential
strike at a mine in Colombia, and the first shipment from its newest mega
mine in Madagascar arriving in Korea. LME stockpiles os nickel are now 12,354
tonnes shy of their all time recorded high. We expect a quiet day and a sideways
trading trend to continue.
BHP
Billiton’s Colombian Nickel Workers Threaten Strike - Workers at BHP
Billiton’s Colombian Cerro Matoso mine, the world’s second-largest
nickel producer, are threatening to strike if the company disciplines a laborer.
-
more
First
Shipment of Nickel Ores from Malagasy Mine Arrives in Korea - The nickel
ores produced from Ambatovy, Madagascar, one of the world's top three nickel
mines, have arrived in Korea after seven years of development. -
more
Japan SUS
Scrap Price Up For February Deliveries = Up Yen10,000/ton or more, reflecting
the price upward trend of the scraps for export = The price in Japan for
nickel-alloyed stainless steel scraps (new clippings) for deliveries during
February is firming up. -
more
Courtesy AISI
- In the week ending February 9, 2013, domestic raw steel production was
1,822,000 net tons while the capability utilization rate was 76.1 percent.
Production was 2,007,000 tons in the week ending February 9, 2012, while
the capability utilization then was 80.7 percent. The current week production
represents a 9.2 percent decrease from the same period in the previous year.
Production for the week ending February 9, 2013 is up 1.2 percent from the
previous week ending February 2, 2013 when production was 1,801,000 tons
and the rate of capability utilization was 75.2 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, February 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$8.31/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading mixed and mostly quiet. Stockpiles of nickel
stored in LME approved warehouse rose sharply again on Friday and now total
just shy of the 153,700 tonne level. The all time record high for stockpiles
is 166,476 tonnes recorded on Feb 8, 2010. Most Asian markets are closed
this week for New Year celebrations, and we expect the nickel market to trade
fairly quietly for the first part of this week, unless the Euro takes an
unusually strong turn one way or the other. US stock traders are having a
hard time punching thru the psychologically important 14,000 level on the
Dow. The Northeast is digging out for a massive snowstorm over the weekend,
Mississippi is recovering from tornadoes, the upper Midwest is getting its
own taste of a blizzard today, and the lower Midwest is preparing for a snowstorm
tomorrow.
(Dow Jones) U.S. nickel imports rose 6.3% in December from last month, and
was up 11.2% from the previous year, the Commerce Department reported Friday.
(Dow Jones) U.S. nickel exports fell 34.5% in December from the previous
month, and was down 39.2% from the previous year, the Commerce Department
reported Friday.
Eramet
to kick off $5.5 billion smelting project mid-2013 - French mining and metals
group Eramet SA, which runs the world’s biggest ferronickel plant, is
scheduled to start its US$5.5 billion nickel smelting project in Maluku in
the middle of this year. -
more
Weda Bay Nickel Makes Request for Tax Holiday - Weda Bay Nickel, a local
unit of French mining and metals group Eramet SA, requested to be granted
a tax holiday, a minister said on Friday. -
more
Top
Dominican official: Xstrata mine OK, but Barrick should pay more - Mining
Agency director Alexander Medina on Friday denied affirmations that Xstrata
Nickel’s planned mine at Loma Miranda would harm the region’s
ecosystems, and said the company Barrick Gold should pay more taxes because
it’s profiting more with gold’s higher price. -
more
Ramu Nico
firms tri-nation bonds - Papua New Guinea’s first US$1.6 billion nickel
project and fifth largest in the world has the potential to promote and further
strengthen the mutual benefits and cooperation between China, Australia and
PNG when it reaches its production capacity. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, February 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$8.24/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose sharply on Thursday and now total 152,400
tonnes. After taking a beating yesterday, the Euro is trading higher against
the US Dollar, adding support to base metal trading. Asian markets ended
mostly higher, and European equity markets are trading higher this morning
on economic recovery hopes after surprising strong January import and export
data was released from China. China is closed all next week for their annual
Lunar New Year celebration so this is optimistic final news should carry
into next weeks trading and support any anticipated 'profit taking' in metals
trading. Stockpile figures show LME licensed warehouses now hold more nickel
than they have held since April 2010. Back then nickel was trading around
$12/lb (closed at highest for year at $12.38/lb on April 20th) and cancelled
warrants were in the 3-4% range (16-17% the last few days this year). With
China closed next week, we may see nickel looking for momentum or pressure
coming from the strength or weakness of the Euro. US futures are quiet as
the American Northeast prepares for a forecasted mega-snowstorm. As we are
writing this the flurries are flying in New York City Times Square. You can
watch the snow stack up
here
amongst numerous other websites. Have a safe and relaxing weekend!
(Dow Jones) Russia's copper, nickel and aluminum exports increased in 2012,
reflecting growing demand on the world market, according to the figures released
by the federal customs service Friday. .... Nickel exports rose 12% to 219,100
tons, valued at $3.72 billion.... .
(SSY) China's crude steel production slid to its slowest daily rate since
September at 1.906 Mt in the last 10 days of January, according to data from
the China Iron & Steel Association member companies. However, production
is still 14% higher than the 1.67 Mt produced in the corresponding period
last year.
World Bank
Commodity Market Outlook Jan 2013 - Nickel prices rose modestly in
early 2012 before receding due to the sluggish market for stainless steel
(the end use of more than two-thirds of nickel production) and the rapid
restart of nickel pig iron (NPI) production in China. China now accounts
for 40 percent of global stainless steel production, up from 4 percent a
decade ago. Stainless steel demand is expected to remain robust in the medium
term, growing by more than 6 percent annually, mainly driven by high grade
consumer applications, initially in high income countries and, increasingly
so, in emerging economies as well. A wave of new nickel mine capacity is
expected to keep nickel prices close to marginal production costs, however.
Several new projects will soon ramp up production, including those in Australia,
Brazil, Madagascar, New Caledonia, and Papua New Guinea. Another major global
source of nickel is NPI in China, which sources low-grade nickel ore from
Indonesia and the Philippines. China‘s production capacity may soon
be constrained, though, given that Indonesia has announced that it will develop
its own NPI industry and has introduced export quotas and may ban nickel
ore exports by end-2013..... Nickel prices are also expected to increase
almost 3 percent in 2013, and to follow a slightly upward trend thereafter.
Although there are no physical constraints in these metal markets, there
are a number of factors that could push prices even higher over the forecast
period, including declining ore grades, environmental issues, and rising
energy costs.
(source)
Japan SUS
Product 2012 Exports Down 6.4% Y-O-Y = Exports to China substantially down
= Japan Iron and Steel Federation compiled the Trade Statistics released
from the Ministry of Finance into the table as attached hereto with regard
to Japan's exports of stainless steel products during the year of 2012 as
well as in December 2012. -
more
Zimbabwe:
Mwana Africa, Chinese Sign Pact - Mwana Africa, a multi-commodity African
mining group listed in the United Kingdom with a strong presence in Zimbabwe,
has announced the formal signing of the Joint Venture Agreement with Zhejiang
Hailiang Company Limited of China.-
more
Full production
from Ontario mine delayed as development slows - Slower-than-planned development
and unplanned rehabilitation work on the main ramp of Toronto-listed miner
First Nickel’s flagship Lockerby nickel mine impacted fourth-quarter
production and delayed the ramp-up to full production to the first quarter
of this year. - more
UN clarifies role in Xstrata Nickel’s planned Dominican Republic mine
- The United Nations Development Program (UNDP) reiterated Thursday that
its sole role is to advise Dominican Republic’s Government by evaluating
the environmental impact study submitted by Xstrata Nickel for its planned
mine at Loma Miranda, in the country’s rugged Central Mountains. -
more
Mining
tax fails to deliver, as revenue falls well short of forecasts - In a statement,
Mr Swan said the Australian Tax Office had provided the government with combined
Minerals Resource Rent Tax revenue figures for the first two quarters of
the 2012-13 financial year. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, February 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$8.31/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading flat, with other London
traded base metals trading mixed. Stockpiles of nickel stored in LME approved
warehouses rose on Wednesday and now total just shy of the 151,000 tonne
level. European stocks are trading slightly higher this morning after the
European Central Bank left its key lending rate unchanged at 0.75%. US futures
are slightly higher, while the Euro is trading higher as well, giving a boost
to base metals trading. Looks to be an uneventful day for nickel traders.
Infographic: 100 Years of Iconic Stainless Steel Structures -
more
Market
Chatter: Nickel Prices Decline Most Since October on Ample Supply - "Nickel
prices fell the most in three months amid signs that global supplies will
be more than enough to meet demand this year. Copper also dropped," Bloomberg
reported. -
more
LME Nickel January Averages Up Slightly From December = Sharply rose during
the last week of the month; month-end stocks exceeded 150,000 tons = LME
nickel's monthly averages during January were, spot: US$17,464.77/ton
(US$7.922/lb) and 3 months: US$17,533.00/ton (US$7.953/lb), both up 0.3%
compared to the averages of December. -
more
Sumitomo Metal
to Slow Investments, Shift Focus to Raw Materials - Sumitomo Metal Mining
Co., Japan’s top nickel producer, will slow the pace of investments
in the next three years and shift focus to spending on raw material assets
as competition for resources intensifies. -
more
Sumitomo Metal to build second nickel plant by 2021 - Sumitomo Metal Mining
Co, Japan's biggest nickel producer, said on Thursday it would build a second
nickel refinery by 2021 to boost annual production capacity to 150,000 tonnes
to meet growing demand from developing countries. -
more
Anglo
says threats over mining licences 'out of order' - Threats by South
African politicians to review mining licences are "out of order", the incoming
head of mining group Anglo American said on Thursday, after its plans to
cut jobs triggered a fierce response from the government. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, February 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$8.48 lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals also trading lower. Stockpiles of nickel stored
in LME approved warehouses fell on Tuesday and now total just over the 150,650
tonne level. Nickel is stalling just shy of the $8.50/lb level, and short
of a major resistance line at $8.55/lb. As China prepares to shut down next
week for the Lunar New Year, traders have gambled their return will bring
a rush of demand. This has caused a big bump in the nickel price in the last
few weeks, and traders may be taking a break and cashing in some profits.
We expect a slight pullback is possible, but doubt we will see much more
than some sideways trading until at least mid next week. Then again,
we could see a repeat of last year, when similar enthusiasm fizzled just
about this time last year and led to a large decline in the price of nickel
over the first six months of 2012
(SMM) On Tuesday, mainstream traded prices for Jinchuan nickel were RMB
130,800-131,000/mt in the Shanghai nickel market, and RMB 129,500-129,800/mt
for Russian nickel. Downstream producers and traders are now closing for
the holiday, and meanwhile the lack of arbitrage opportunity in domestic
electronic trading further reduced the already light trading sentiment, a
sign of strong holiday sentiment.
(SMM) The Indonesian government announced in late January that it had raised
its benchmark nickel ore export price for February by 0.41-0.45%.
(MF) Japan’s stainless steel exports decrease in 2012
(Xinhua) Shanxi Taigang's stainless steel output rises to 3.11 mln t in 2012
(Xinhua) China 2012 crude stainless steel output up 14.17 pct y-o-y, CSSC
TISCO proves
its mettle in tough steel market - It's a fact few people might know, but
the metal used to make the many millions of coins in circulation in China
is made in Taiyuan in Shanxi province by a company now regarded as the world's
largest stainless steel producer. -
more
Xstrata Nickel project shouldn’t depend on the UN, environmentalist
says - While UN Development Program (UNDP) technicians on Monday began
behind-closed-doors consultations to evaluate the environmental impact study
submitted by Xstrata Nickel’s Falcondo Loma Miranda mining project,
a prominent environmentalist said the operation shouldn’t depend on
their decision. -
more
Global Steel
Production To Rise By 4.7 Percent in 2101 - MEPS predicts world crude steel
output in 2013 at 1620 million tonnes. This equates to a 4.7 percent increase
on the estimated outturn of 1548 million tonnes in 2012. The gain in that
year was just 1.4 percent. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, February 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$8.49/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals mixed and mostly lower. Stockpiles of nickel stored
in LME approved warehouses fell slightly on Monday, and now total just over
the 150,800 tonnes level. The Euro is slowly recovering today and base metals
are recovering as well. Considering the strength in nickel against teh weaker
Euro yesterday, nickel is looking very strong. As nickel nears strong resistance
at $8.55/lb, it will be interesting to see if traders take some profits
or keep their appetite for risk. European stock markets are on teh rebound
today and US futures are higher as well.
Iron Ore Seen Poised for Bear Market by Smirk on Supplies -
more
Vale Breaks 4Q Iron Ore Record - Analyst Blog -
more
ETI KROM's
Production Records & Outlook On Chrome Market = Plan to produce in 2013
FeCr 170K tons, Cr Ore 825K tons, forecasting price rises during the first
half of 2013 = Mr. Robert Yuksel Yildirim, President of Yildirim Holdings
Inc., and Mr. Cengiz Onal, FeCr International Marketing Director of Eti Krom
Inc., gave an interview to our pressman (Mr. Saito) on the 23rd of January
at the Imperial Hotel, Tokyo -
more
Russian agency
sues Norilsk Nickel for $19.5 mln over eco damage - The Krasnoyarsk Territorial
Commercial Court will hear on February 8 the Russian environmental agency’s
585.5-million-ruble ($19.5 million) claim against Norilsk Nickel, the court
spokesperson told RAPSI on Monday. -
more
Courtesy AISI
- In the week ending February 2, 2013, domestic raw steel production was
1,801,000 net tons while the capability utilization rate was 75.2 percent.
Production was 1,944,000 tons in the week ending February 2, 2012, while
the capability utilization then was 78.5 percent. The current week production
represents a 7.4 percent decrease from the same period in the previous year.
Production for the week ending February 2, 2013 is down 0.3 percent from
the previous week ending January 26, 2013 when production was 1,806,000 tons
and the rate of capability utilization was 75.4 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, February 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$8.44/lb. Indicators at
7:00 am CST today show 3 month nickel trading flat this morning, with other
London traded base metals trading flat to slightly lower. Stockpiles of nickel
held in LME approved warehouses rose only slightly on Friday and now totals
just over 150,900 tonnes. The Euro is trading lower this morning on Italian
and Spanish political woes, which is putting pressure on base metals trading.
European stocks are lower at the moment, as are US futures.
North America
sTainless - Effective with shipments February 1st, 2013, North American Stainless
will maintain the fuel surcharge at 34% for stainless flat and long products.
The surcharge rate is considered a maximum level for February and will be
reviewed monthly.
Local 598
members ratify deal - Mine Mill Local 598/CAW members voted 92 per cent in
favour of ratifying a four-year deal with Xstrata Nickel Feb. 1. -
more
Prices
Of CR Austenitic Stainless Sheets In East Asia Region = To await the next
step after Chinese New Year at $2,850 CFR - In the market of cold-rolled
(CR) austenitic stainless steel sheets in the East Asia region, Korea's POSCO,
Taiwan's YUSCO and so on offered their prices at $2,750 CFR and settled at
$2,700 CFR for January shipment. -
more
Eramet
Unit, Indonesia Agree on Some Contract Review Points - Eramet SA (ERA) unit
PT Weda Bay Nickel, negotiating with Indonesia to set up a $5 billion nickel
mine and smelter, agreed on four out of six points in a government review
of the company’s mining contract. -
more
Illegal
hauling of chromite unabated in Zambales - From Nov. 2011 to May 2012, more
than 100,000 metric tons (MT) of chromite tailings (fines) valued at P250
million were stolen from the Coto Mines of Consolidated Mines Inc. (CMI)
in Sitio Coto, Barangay Taltal in Masinloc, Zambales allegedly by officials
and elements of the Zambales Provincial Police Office. -
more
DJ Russian
Defense Corp Head Nominated for Norilsk Board - -The head of Russia's state
defense corporation has been nominated to take an independent seat on the
board of directors of Norilsk Nickel (GMKN.RS), the world's largest nickel
and palladium producer that has recently emerged from a bruising shareholders'
dispute. -
more
Boss of Russian state-owned firm may join Norilsk board - Russia's richest
man Alisher Usmanov has nominated the head of state-owned Russian Technologies
to the board of Norilsk Nickel, a sign of greater government influence at
the world's largest nickel miner. -
more
Xstrata Nickel introduces its local CEO - Falcondo Xstrata Nickel on
Thursday introduced Darren Bowden as its new President and CEO in the country,
who will guide the company’s operations and future projects in the Dominican
Republic. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, February 1
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$8.31. Indicators
at 6:55 am CST today show 3 month nickel trading around $.07/lb
higher, with most London
traded base metals trading higher, but quieter. Stockpiles of nickel stored
in LME approved warehouse rose on Thursday and now total 150,900 tonnes.
Nickel is continuing its bullish run, after a slight pause yesterday. The
retreat in the Chinese PMI does not appear to be having much of an effect
on nickel, so we feel much of what is happening here is being triggered by
technical signals, and not fundamentals. At the moment nickel appears to
be in overbought territory. Our daily Chinese stainless steel index is on
the rise as China prepares for its week long shut down for the Lunar New
Year holiday. MarketWatch reports "Activity in the 17-nation euro zone's
manufacturing sector continued to shrink in January, but contracted at the
slowest pace in 11 months, according to Markit's final January
purchasing-managers' index for the sector released Friday. The index rose
to 47.9 from 46.1 in December, coming in above an earlier estimate of 47.5."
This has given the Euro a boost, which in turn is a positive for base metals
traders. Negotiations continue in Sudbury between Xstrata and Mine Mill,
and the mere fact the two continue to talk after the deadline, is a good
sign. Have a safe and relaxing weekend!
Talks go
through night - Negotiators for Xstrata Nickel and Mine Mill/C AW Local 598
were still bargaining in an effort to reach a new collective agreement at
press time Thursday. -
more
Global Stainless
Steel Output At A Record High in 2012 - Official figures for worldwide
crude stainless steel output in 2012 are estimated to have recorded another
all-time high figure of 34.6 million tonnes, 2.6 percent higher than the
previous peak, which was achieved one year earlier. Of the traditional stainless
steel producing nations, only South Korea exceeded the previous year's outturn.
- more
Nickel
Jumps to 3-Month High as Steelmakers Stock Up on Growth - Nickel rose to
a three-month high in London as stainless steelmakers, the biggest users,
stocked up on metal amid signs of recovering economic growth. Copper fell.
-
more
Outokumpu shows off
facilities, seeks 25 percent of US stainless steel sales by 2015 (Gallery)
- Outokumpu Stainless USA, the former site of ThyssenKrupp Stainless USA
in Calvert, is looking to snag a quarter of the U.S. stainless steel market
in the next two years, the company said today at a press event. -
more
Demand for
moly stainless scrap remains thin in Japan despite improved outlook - Demand
for molybdenum-containing stainless steel scrap stayed lackluster throughout
January in Japan, despite expectations that exports of steel products from
the country would rise in the coming months due a stronger dollar versus
yen, sources said Friday. -
more
Norilsk 2012
Nickel Production Up 2% to 300,340 Tons - OAO Norilsk Nickel (GMKN.RS), the
world's largest nickel and palladium producer, said Thursday its 2012 nickel
output rose 2% to 300,340 metric tons, driven by increases in production
at its international divisions in Africa and Australia, but predicted output
will fall as much as 8.4% in 2013. -
more
LME’s
Only Woman Trader Leaves to Join Hong Kong Exchanges - Bethan Wilde, the
only woman trader on the floor of the London Metal Exchange, was hired by
Hong Kong Exchanges (388) & Clearing Ltd. as senior manager of business
development and strategy. -
more
S.Africa's
Merafe sees FY earnings lower on impairment - South African ferrochrome producer
Merafe Resources forecast a drop in full-year earnings on Thursday, citing
an impairment loss on a potential sale of high-cost assets, lower output
and weak demand. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mostly lower, Stockpiles of nickel stored
in LME approved warehouses rose again on Wednesday and now total just under
the 158,000 tonne level. Nickel bounced back above the $7.57/lb support level
yesterday and is holding above it so far today. Two consecutive closes below
this level would imply the downward trend in pricing could return. Holding
about it sends a technical signal that buyers may be showing renewed
interest.Most other technical signals remain negative however. The Euro is
trading slightly lower against the US Dollar, and European equity markets
are higher for a second day. The shock of the indecisive Italian election
is wearing off and warnings that the US sequester will slow US economic growth
appear to falling on deaf ears.
Reports
Commodity/Economic Comments
Chrome ore
firms up in auction, rises over 50% - Chrome ore prices rose sharply in the
latest auction conducted by the Odisha Mining Corporation (OMC), the state
government-run mining company, due to ferrochrome supply problems in
international markets and ore supply issues in the domestic market, sources
said. -
Midnight
Strike Deadline - Xstrata Nickel and United Steelworkers Local 2020 continued
to bargain Wednesday evening as the clock ticked down to the union's strike
deadline Thursday at midnight. -
Vale Had
Wider-Than-Forecast Loss on $5.7 Billion Writedowns - Vale SA, the world’s
largest iron- ore producer, reported a record quarterly loss that was wider
than analyst forecasts after writing down the value of some nickel, coal
and steel assets amid lower commodity prices. -
Clive
Palmer's Titanic II Is Something New, A Reenactment Of The 20th Century -
I have been surprised since I first wrote about Australian mining magnate
Clive Palmer‘s ambition to rebuild the Titanic, almost a year ago, at
how much interest there has been in the topic. -
Morning Nickel
Inventory and Price Statistics & Figures
China Crude
Stainless Steel 2012 Output Up Year-On-Year - Stainless Steel Council of
China Special Steel Enterprises Association released production of crude
stainless steel in China during the calendar year of 2012 being 16.087 million
tons, up 14.2% from 2011, together with imports/exports of SUS products during
2012. -
Putin Ally
Chemezov Likely to Join Norilsk Board - Russian Technologies head Sergei
Chemezov is likely to get a seat on Norilsk Nickel's new board of directors
after majority owners agreed to support his candidacy at the upcoming shareholder
meeting, sources close to the nickel giant's biggest shareholders said Tuesday.
-
Glencore’s CEO Says Rival Mining Chiefs ‘Really Screwed Up’
- Glencore International Plc (GLEN)’s billionaire Chief Executive Officer
Ivan Glasenberg criticized his recently departed mining CEO peers for swamping
the industry with mines and new production that’s crimped profits. -
Xstrata Nickel denies US$100M tax dodge at Dominican mine - The miner
Xstrata Nickel Falcondo, which exploits ferronickel sites in central
Monseñor Noel province, said a difference in prices between the reports
submitted to the Dominican government and its parent company result from
calculations made according to the operation period and isn’t an
undervaluation which cuts tax payments. -
U.S. Molybdenum
Ores/Concentrates 2012 Imports/Exports - According to the the trade statistics
released by U.S. Department of Commerce, the imports and exports of molybdenum
ores and concentrates during the calendar year of 2012 were as per the table
attached hereto. -
Big
change needed to save nickel producers - The majority of Australia's nickel
producers continue to struggle to turn a healthy profit, and analysts say
there is little relief in sight unless there is a fundamental change, such
as BHP Billiton closing its West Australian operations. -
South
Africa High-Carbon FeCr 2012 Exports Down 15% Year-On-Year = 2.670 million
tons, down 14.8% y-o-y; medium/low-carbon FeCr exports were 32,114 tons,
down 40.7% y-o-y = According to South African Revenue Service, exports of
charge chrome (high-carbon ferrochrome containing more than 4% of carbon)
during 2012 were 2,689,883 tons, down 14.8% from 3,157,847 tons in 2011.
-
Tati Nickel
Mining Company recently donated P15, 000 worth of reflective vests and other
road signs to the Botswana Police Service in an effort to assist teachers
in Francistown curb road accidents among school children. -
Japan's 2012
Hot-Rolled SUS Production Down Year-On-Year = 2,819,000 tons down 3.8% from
2011; both Cr-alloyed group and Ni-alloyed group down = According to the
data released by Ministry of Economy, Trade and Industry on February 15,
details of the output of hot-rolled stainless steel during the calendar year
of 2012 as well as in the single month of December 2012 are as per the table
attached hereto. -
New
Caledonia Nickel Mining Industry Issues Remain - New Caledonia’s nickel
industry is being transformed as new joint ventures and exports to Asia challenge
France’s control of the strategic minerals sector. -
Aperam forms
joint venture to bid for Outokumpu's Terni - Luxembourg-based stainless steel
maker Aperam has teamed up with two Italian peers to bid for Outokumpu's
Terni plant in Italy, boosting hopes the Finnish company will find a buyer
for the mill. -
Chrome Ore
Exports From Turkey - January 2013 = Up 18.6% from the preceding month; exports
to China recovered = Turkey's exports of chrome ore during January 2013 were
as per the attached table hereto. -
Edwards Says
Mining Boom Yet to Come as Output Set to Rise - Reserve Bank of Australia
board member John Edwards said higher mining output may support gross domestic
product growth even after resource investment peaks. -
Talvivaara
‘Quite Confident’ on Rights Vote to Ward Off Collapse - Talvivaara
Mining Co. Ltd. said it’s “quite confident” shareholders will
approve a rights offer to stave off default and bankruptcy at the Finnish
nickel miner. -
Future of
the European steel industry: time to translate good intentions into action
- EUROFER is satisfied with many aspects and findings in the recommendations
of the High level Roundtable on the future of the European Steel Industry,
published on February 12, 2013. -
Ground-Breaking Ceremony Marks The Start Of Antam's Expansion Of Pomalaa
Ferronickel Plant Project - PT ANTAM Tbk is pleased to announce the
ground-breaking ceremony of the Expansion of Pomalaa Ferronickel Plant project
(P2F), at Pomalaa, Southeast Sulawesi. The ground-breaking ceremony was held
on Thursday, February 7th, 2013, at the first piling site of the coal fired
power plant in Pomalaa. -
Mwana Africa
says Trojan mine in production readiness - Mwana Africa said its Trojan Nickel
Mine in Zimbabwe has been returned to a state of production readiness, on
time and on budget. -
BHP
Billiton’s Colombian Nickel Workers Threaten Strike - Workers at BHP
Billiton’s Colombian Cerro Matoso mine, the world’s second-largest
nickel producer, are threatening to strike if the company disciplines a laborer.
-
First
Shipment of Nickel Ores from Malagasy Mine Arrives in Korea - The nickel
ores produced from Ambatovy, Madagascar, one of the world's top three nickel
mines, have arrived in Korea after seven years of development. -
Ramu Nico
firms tri-nation bonds - Papua New Guinea’s first US$1.6 billion nickel
project and fifth largest in the world has the potential to promote and further
strengthen the mutual benefits and cooperation between China, Australia and
PNG when it reaches its production capacity. -
Market
Chatter: Nickel Prices Decline Most Since October on Ample Supply - "Nickel
prices fell the most in three months amid signs that global supplies will
be more than enough to meet demand this year. Copper also dropped," Bloomberg
reported. -
Prices
Of CR Austenitic Stainless Sheets In East Asia Region = To await the next
step after Chinese New Year at $2,850 CFR - In the market of cold-rolled
(CR) austenitic stainless steel sheets in the East Asia region, Korea's POSCO,
Taiwan's YUSCO and so on offered their prices at $2,750 CFR and settled at
$2,700 CFR for January shipment. -
Illegal
hauling of chromite unabated in Zambales - From Nov. 2011 to May 2012, more
than 100,000 metric tons (MT) of chromite tailings (fines) valued at P250
million were stolen from the Coto Mines of Consolidated Mines Inc. (CMI)
in Sitio Coto, Barangay Taltal in Masinloc, Zambales allegedly by officials
and elements of the Zambales Provincial Police Office. -
Global Stainless
Steel Output At A Record High in 2012 - Official figures for worldwide
crude stainless steel output in 2012 are estimated to have recorded another
all-time high figure of 34.6 million tonnes, 2.6 percent higher than the
previous peak, which was achieved one year earlier. Of the traditional stainless
steel producing nations, only South Korea exceeded the previous year's outturn.
- 
