This
page is archived news covering the period of February 2014
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Friday, February 28
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
$6.55/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.07/lb
higher with other base
metals trading mixed. Stockpiles of nickel stored in LME approved warehouses
fell for a second day on Thursday and now total just over the 270,600 tonne
level. Nickel broke away from the pack yesterday and is continuing its run
higher today, thanks in part to a weaker US Dollar. We think some of this
might be explained by a weak technical signal, which may not be so weak to
computer trades. $6.42/lb, in hindsight, could be seen as a very weak point
of support, and now that nickel is bounced off that level, it could be argued
that it was not as weak as it appeared prior to the bounce. Regardless, if
nickel holds on for the day, it will close on the upside for the week, and
end the month having gained over $25/lb. We have world PMI releases to start
next week, but in US reports today, we will get Chicago PMI, pending home
sales, consumer sentiment, and fourth quarter 2013 GDP numbers. Have a safe
and relaxing weekend.
Average price of cash nickel so far this month - $6.43/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China's Nickel
Ore imports from Indonesia may collapse in February: Barclays - Despite the
January 12th ban on ore exports, Chinese imports of nickel ore were strong
in January, up 48% y/y, with a 55% y/y increase in imports from Indonesia.
-
more
RPT-In
metal warehouse overhaul, pressure shifts from LME to regulators - A series
of public and private meetings between the London Metal Exchange and its
staunchest critics in the United States has revealed a small but significant
shift in a years-long crisis over the exchange's warehousing policy, sources
said. -
more
Brazil's
Vale Sees Ebitda In Base-Metals Division Surging - Brazilian mining company
Vale SA expects cash generation from its base-metals division to roughly
quadruple through next year as new copper and nickel operations ramp up and
an Indonesian export ban drives prices higher, a company executive said Thursday.
-
more
Vale vows
spending austerity as metals price outlook improves - Vale SA , the world's
largest iron ore producer, will continue reining in costs this year even
as the outlook for prices and sales volumes is improving, its chief executive
officer said on Thursday. -
more
PolyMet mine
environmental review's comment period not extended - The comment period on
an environmental review of what would be Minnesota's first copper-nickel
mine will not be extended past March 13, the state Department of Natural
Resources said Thursday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, February 27
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
$6.45/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading slightly lower as well. Stockpiles of nickel
stored in LME approved warehouses fell on Wednesday and now total just under
270,700 tonnes. Technicals are sending few directional signals for nickel
traders and momentum continues to remain neutral. IN equity trades, Asian
markets ended higher overnight, European markets are trading lower this morning,
and US Dow futures are lower as well. The popular uprising in Ukraine continues
to concern traders, with Russia's intervention in Georgia in years past,
fresh in many minds. Economic signals out of the US remain mixed, and while
the majority are positive, there is a pessimistic tone that can not be shaken.
Average price of cash nickel so far this month - $6.43/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) According to the latest World Steel Dynamics€™ Steelbenchmarker,
the world export price for hot rolled band fell slightly in the second half
of February 2014, down $2/t in the last two weeks to $560/t. EU and Chinese
HRB prices declined by $6/t and $7/t, to $599/t and $467/t respectively.
This is the lowest Chinese HRB price since mid-September 2012. Meanwhile,
US HRB prices also fell sharply, down $14/t to $722/t.
New
Caledonia nickel mine fined after acid spill - A landmark decision by the
court of appeal in New Caledonia has found against the Vale Nickel company
after a major acid spill damaged a UNESCO listed World Heritage lagoon. -
more
Another political party supports National Park at planned mine - Al-Pais
minority party president Guillermo Moreno on Wednesday slammed president
Danilo Medina’s "ambiguous position" regarding Xstrata Nickel’s
planned mine at Loma Miranda (central) and demands declaring it eminent domain.
-
more
China Steel
Raises April-May Domestic Prices by Average 0.37% - China Steel Corp. said
Wednesday it will raise its local steel product prices slightly for the April-May
period, citing a better outlook for demand in the second quarter. -
more
Vale Posts
Record $6.45 Billion Loss on Tax Deal, Writedown - Vale SA, the world’s
largest iron-ore producer, posted a record quarterly loss after settling
a decade-long tax dispute and writing down the value of an asset in Argentina
amid slowing Chinese demand. -
more
Vale’s earnings slump steeply amid sharp drop in nickel prices -
more
ERAMET Group's
Production and Sales in 2013 - On February 21, ERAMET Group, France announced
its production and sales volumes in the calendar year 2013 as well as in
the period from October to December in 2013. -
more
Tonnage grows
for Duluth Metals in Minnesota - Duluth Metals of Toronto has increased the
metal content as well as the tonnage of the resources in four deposits at
its Twin Metals project in the northeast part of the state. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, February 26
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
$6.48/lb. Indicators
at 6:45 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals slightly higher as well. Stockpiles of nickel stored
in LME approved warehouses saw its second largest one day increase of 2014
and set a new all time record high of 270,882 tonnes. For the few that were
forecasting the Indonesia ore ban could mean immediate shortages in China,
nickel stockpiles having set five new record highs so far this month, must
be distressing. Very quiet on the news front this morning. None of the wires
have published morning reports on action at the LME, something we rarely
see. Nickel closed below its 10 day moving average for a second day yesterday,
and for a second day, the traded price closed above the 30 day moving average.
The short term trend has turned neutral, with no clear technical signals
being sent. In overnight trading, Asian markets ended d lower, European markets
are trading lower this morning, and US Dow futures are slightly positive.
Metals look to trade quietly for the remainder of the day.
Average price of cash nickel so far this month - $6.43/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(BNA) Brazilian stainless steel production rose 6.3% to 354,000t in 2013,
according to stainless steel association Abinox.
China metal
imports boom a very mixed blessing: Andy Home - China imported record amounts
of iron ore, nickel ore and bauxite in January. Imports of refined copper
were the second-highest on record, while those of refined zinc were the
fourth-highest. -
more
Dominican Republic official: ‘Yes, but’ to Xstrata Nickel’s
planned mine - Presidency Administrative minister Jose Ramon Peralta said
Tuesday he supports "responsible mining" at Loma Miranda (central), but only
if it isn’t done in that manner, otherwise “it will do more damage
than good.” -
more
March in Central Mountain town supports Xstrata Nickel mine - Dozens of people
marched through some of the city’s busiest streets Tuesday to support
Xstrata Nickel Falcondo’s planned controversial mine at Loma Miranda.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, February 25
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
$6.52/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mixed and mostly quiet. Stockpiles of nickel
stored in LME approved warehouses rose on Monday and now total just over
the 268,450 tonne level. Back in February of 2012, nickel was trading in
the $9/lb range. Vale is forecasting the traded price of nickel could return
to these levels next year. Stainless steel surcharges for March have been
posted
here.
Nickel trading has been fairly subdued so far today, and it looks like it
could be a quiet day.
Average price of cash nickel so far this month - $6.43/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(LG) Stainless Steel Council of China Special Steel Enterprises Association
announced China's production of stainless crude steel in the calendar year
2013 (January to December) was 18.984 million tonnes up by 18.0% from the
prior year.
Vale Sees
Nickel Over $20,000 a Ton on Indonesia Ban - Nickel will climb significantly
in 2015 and may advance to more than $20,000 a metric ton in the next few
years because of Indonesia’s ban on ore exports, said Vale SA , the
world’s second-biggest producer. -
more
China's steel
sector troubles can't be solved easily - CISA - China's steel industry will
not see a quick end to its troubles as overcapacity has reached staggering
proportions and structural adjustments to the economy have complicated the
sector's situation, the nation's top steel association said. -
more
NICKEL:
Celebration marks opening of Vale's Totten mine in Sudbury - Vale celebrated
what its calls its first new mine near Sudbury in over 40 years – the
2,200-t/d underground Totten nickel-copper mine – last Friday, Feb.
21, 2014. -
more
Courtesy AISI
- In the week ending February 22, 2014, domestic raw steel production was
1,831,000 net tons while the capability utilization rate was 76.3 percent.
Production was 1,875,000 net tons in the week ending February 22, 2013, while
the capability utilization then was 78.3 percent. The current week production
represents a 2.3 percent decrease from the same period in the previous year.
Production for the week ending February 22, 2014 is down 0.8 percent from
the previous week ending February 15, 2014 when production was 1,845,000
net tons and the rate of capability utilization was 77 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, February 24
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
$6.51/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickle store
din LME licensed warehouses fell for a fourth day on Friday and ended last
week just over 268,150 tonnes. Asian markets ended mostly lower overnight
on China property curb fears, European markets are trading mostly higher
on better than expected German business confidence data, and US Dow futures
are higher at the moment. Nickel is showing some signs it may have peaked
out last Wednesday, contrary to the technical signal that was sent that day.
The Euro is stronger this morning but base metals are trading lower on demand
concerns, this nervousness caused by Chinese property concerns. China steel
recorded a decline in production in January, its first drop in 17 months.
Average price of cash nickel so far this month - $6.43/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China Nickel Imports and Exports Data January 2014 -
more
(SSY) According to the World Steel Association, January 2014 recorded the
first annual fall in Chinese steel production since August 2012, down 3.2%
to 61.6 Mt.
Poseidon Nickel raises $3.8M for Mt Windarra pre-production work -
more
Vale ‘Not
in Hurry’ in Over Canada Glencore Negotiations - Vale SA, the world’s
second-biggest nickel producer, said it’s not in a rush to reach an
agreement with Glencore Xstrata Plc to combine operations in Canada’s
Sudbury basin.-
more
Indonesia
to ease export tax, 1st rollback of mining rules - Indonesia will ease a
controversial tax on mineral concentrate exports for firms that build smelters
in the country, in the first rollback of new rules that have caused its mining
industry to grind to a halt. -
more
Indonesia may eliminate mineral export tax for smelter-building firms -
Indonesia's government will consider eliminating a controversial tax on exports
of mineral concentrates for companies that build a smelter in the Southeast
Asian country, a senior government official said on Monday. -
more
Stainless
Crude Steel Production by Major SUS Mills in Dec. 320,009 Tons =Up by 9%
from prior month and production in CY2013 is 3.63 million tons, up by 3%
from prior year= The stainless crude steel production by 7 major stainless
steel mills in December 2013 was 320,009 tons, up by 8.6% from 294,556 tons
of the prior month. -
more
Accent:
Sudbury's Totten a space-age mine - In major mining centres, the opening
of a new mine is no small feat. Especially when that mine is a company's
first to open in the area in more than four decades – and took seven
years to get production-ready. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, February 21
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
$6.51/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading mixed and mostly quietly. Stockpiles of
nickel stored in LME licensed warehouses fell for a third consecutive session
on Thursday and now total just over the 268,700 tonne level. Cancelled warrants
jumped yesterday and were over the 45% mark yesterday. US stocks ended higher
yesterday after U.S. manufacturing activity jumped to its highest level in
nearly four years. Asian markets ended higher overnight, European markets
are trading higher at the moment, and US Dow futures are trading higher this
morning. Nickel looks to close higher for the fourth consecutive week, but
has yet to reach where it was trading that fifth week back. $6.64/lb remains
major resistance and the short term trend remains positive. Have a safe and
relaxing weekend.
Average price of cash nickel so far this month - $6.42/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Macquarie Commodities Research Commodities Comment - In today’s report
we look at the nickel supply/demand balance in detail to assess the impact
of a full ban. The conclusion is that in the case of a full ban, a massive
nickel deficit would start from end-2014 onwards and that by 2016, LME and
producer nickel inventories would be lower than in 2006/07 when nickel prices
were trading in the $20-50,000/t range. We now think that as early as mid-2014,
a full ban could lead prices rally strong above $15,000/t towards $20,000
by end-2014.
El Nino threatens to return, hit global food production -
more
Nickel
Set for 3rd Weekly Rise on Indonesia Ore Ban - Nickel headed for a third
weekly advance on speculation that a global surplus will shrink amid a ban
on exports of unprocessed ore in Indonesia and as U.S. manufacturing beat
estimates. -
more
Production
of Stainless Steel Products in December 2013 Is 252,829 Tons =Up by 10% from
prior month, and production of Ni-type returns to level before Lehman Crisis=
On February 17, the Ministry of Economy, Trade and Industry announced the
production volume of stainless steel products (hot-rolled products) in December
2013 was 252,829 tons, which represented an increase of 9.9% versus the prior
month and an increase of 17.4% versus the year-earlier month. -
more
Eramet sinks
to loss on nickel woes, delays Indonesia mine - French mining group
Eramet postponed its flagship nickel mine project in Indonesia on Friday
as it posted a full-year loss after being hit by low nickel prices. -
more
Four
firms face suspensions over nickel contamination in Zambales town - Four
mining companies may have their operations suspended over nickel contamination
in the town of Sta. Cruz in Zambales since last year. -
more
Ring of
Fire needs federal, Ontario help: study - The federal Conservatives should
make the Ring of Fire a national priority and take a "more active role" in
developing the mineral-rich region in northern Ontario, which could yield
billions in tax revenues and economic activity, a new report recommends.
-
more
Courtesy AISI
- In the week ending February 15, domestic raw steel production was 1,845,000
net tons while the capability utilization rate was 77 percent. Production
was 1,875,000 net tons in the week ending February 15, 2013, while the capability
utilization then was 78.3 percent. The current week production represents
a 1.6 percent decrease from the same period in the previous year. Production
for the week ending February 15, 2014 is up .3 percent from the previous
week ending February 8, 2014 when production was 1,839,000 net tons and the
rate of capability utilization was 76.8 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, February 20
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
$6.58/lb Indicators at
6:40 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses fell for a second day on Wednesday and now total
just over the 269,200 tonne level. Negative preliminary PMI numbers from
Europe, and mostly China, are sending metals lower today. Yesterday's Fed
release of its last meeting notes showing uncertainty and disagreement over
the future of its stimulus has bumped up the US Dollar, and this is adding
further pressure on metals. For nickel, the news that Japan may take Indonesia
to the World Trade Organization over its mineral ban, coming on the same
day that news has leaked China is apparently sending a trade delegation to
Indonesia to discuss the same matter, implies that these two countries are
very concerned over the long term effects of this ban. When today's negative
PMI numbers are forgotten, this news could easily boost nickels traded price.
We still see major resistance at $6.64/lb.
Average price of cash nickel so far this month - $6.41/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China may
send delegation on metals investments to Indonesia - sources - Beijing is
organising a delegation of Chinese companies that have plans to build metals
plants in Indonesia, in a first sign the government may be concerned over
ore supplies because of the Southeast Asian country's mineral ore export
ban. -
more
Japan May
Take Indonesia to WTO Over Mineral Export Ban: Media - Japan is considering
taking Indonesia to the World Trade Organization over a ban on exports of
mineral ores that has curtailed supplies for industry, senior government
officials said on Thursday. -
more
Xstrata Nickel flap: Prominent group wants mining chief fired - One of Dominican
Republic’s most prominent civil society organizations on Wednesday called
for the immediate resignation or dismissal of Mining Agency director Alexander
Medina, describing him as a sort of "Trojan Horse" and an enemy of the Dominican
people for his alleged defense of corporate, purely foreign interests and
above the collective interest, for openly promoting Loma Miranda’s
exploitation. -
more
Market Trend
of Import of Ferroalloy as of 14 February 2014 =Market trend after Chinese
New Year varies according to commodities. Upward trend for SiMn= Market trend
of import of ferroalloy as of 14 February 2014 is as follows. -
more
Nickel:
Sherritt output up, earnings down for 2013 - Sherritt International pledged
to focus on its core nickel business last year as evidenced by its decision
to get out of coal mining. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, February 19
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
$6.56/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading mixed and quiet. Stockpiles of nickel stored
in LME approved warehouses slipped on Tuesday and now total just over the
269,250 tonne level. Nickel closed above minor resistance for a second day,
sending a technical signal that major resistance of $6.64/lb could be the
next target. Deadly protests in Ukraine, Thailand and Venezuela are overshadowing
the peaceful world gathering at the Sochi Olympics. So far, noe of this conflict
has sent investors scurrying for the US Dollar, which is trading around a
4 week low. Should that happen, we could see nickel's momentum come under
pressure. Asian markets ended mostly higher overnight, European markets are
trading lower after a worse than expected employment report from the UK,
and US Dow futures are lower at teh moment. China's steel output in February
is running higher than 2013, after a disappointing January. Stainless steel
index prices in China continue to move lower, although we expect that to
turn around any day now.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(OS) Reuters poll: average nickel price expected for 2014 USD 14,774.20/mt,
for 2015 an increase of 10% or USD 16,172.00/mt. Indonesia not yet taken
into account in the forecast.
(SSY) According to the China Iron and Steel Association, the daily rate for
Chinese crude steel output for 1-10 February 2014 was 2.060 Mt, up from 1.659
Mt in the period 21-31 January. This marks an improvement on the daily output
of 1.989 Mt for the same period in February 2013.
China's
Production of Stainless Crude Steel 18.984 Mil. Tons in 2013 =Up by 18% from
prior year, and production of both Cr and Ni alloyed stainless steels increases
sharply= Stainless Steel Council of China Special Steel Enterprises Association
announces China's production of stainless crude steel in the calendar year
2013 (January - December) was 18.984 million tons, up by 18.0% from the prior
year. -
more
2014 Starts
Even - Monthly shipments of steel and aluminum in both the United States
and Canada began 2014 with small gains or losses from January 2013. Inventory
levels were improved from December, however. -
more
Miners digging
deep for a new global strategy - Weak commodity prices, a shifting investment
environment, and problems with governments and workers prompt Chinese mining
companies to slow their expansion abroad, reports Du Juan from Tianjin -
more
Outbound mining M&As to rebound: Experts - China's outbound mergers and
acquisitions in the mining sector sank to decade lows last year in terms
of deal numbers and volume, affected by domestic policy shifts and a weak
economy, but an upturn is due this year, experts said on Tuesday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, February 18
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
$6.51/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading mixed and mostly quietly. Stockpiles of
nickel stored in LME approved warehouses returned to its record breaking
run, setting a new record high of 269,388 tonnes on Monday. A second consecutive
close above $6.47/lb today could put nickel on track to test next resistance
of $6.64/lb. That is the technical signal. Nickel appears to be benefitting
primarily from a weaker US Dollar, and the return of China to work, and the
ever present optimism amongst some traders, that a resurgence in China demand
will drive nickel prices higher. In reality, that resurgence has yet to
materialize. Steel production was down in China in January, and record iron
ore imports are being held for credit purposes, and not being used due to
steel demand. That is not to say the sky is falling. Even when it slows,
steel production in China remains staggering. Of China metals analysts
who participated in a weekly poll this past weekend, 46% forecast nickel
prices would rise, 51% forecast the price would fall, with the balance
forecasting no change. Asian markets ended higher overnight, European markets
are trading sharply higher this morning, and US Dow futures remain higher.
Average price of cash nickel so far this month - $6.39/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSI) Global use of molybdenum in the third quarter of 2013 was 134.1 million
pounds, up just over 1% from 132.2 million pounds in the previous quarter,
figures released today by the International Molybdenum Association (IMOA)
show. Global production fell slightly to 129.3 million pounds, down 2% from
132 million pounds in the previous quarter.
(CW) The European Commission has notified the World Trade Organization (WTO)
of its intention to amend the 2009 EU Directive on the safety of toys to
extend an existing exemption for nickel. Currently, even though it is a Category
2 carcinogen, use of the metal is permitted in stainless steel in toys. Following
safety advice from its Scientific Committee on Health and Environmental Risks,
the Commission now proposes to extend this permission, to include nickel
in "parts of toys allowing the correct electrical function of toys". The
Commission notified the WTO last Friday.
(SSY) China Iron and Steel Association data puts Chinese crude steel output
for 12-31 January 2014 at 1.659 Mt, down from 2.007 Mt in the period 11-20
January. This compares with a daily output of 1.906 Mt for the same period
in January 2013.
Leading stainless steel suppliers to Russia in 2013
- more
Credit not
steel, China's new use of iron ore props up demand - Chinese steel mills
and traders are buying more iron ore to use as collateral to secure loans,
helping imports and stocks of the raw material defy expectations for a slowdown
in demand by the world's biggest consumer. -
more
Panoramic
soars on nickel discovery - Shares in nickel miner Panoramic Resources have
soared on news of a major discovery at its Savannah North project in the
East Kimberley. -
more
New
Caledonian documentary balances economics and tradition - The challenge of
balancing economic development and traditional values is something that confronts
many Pacific island communities. -
more
Scientists
warm over coming era of deep sea mining - The last great unexplored wilderness
on Earth is about to experience industrial-scale mining that could change
the face of the pristine seabed of the deep ocean for generations to come,
scientists have warned. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, February 17
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
$6.46/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading higher as well. Stockpiles slipped for
a second consecutive day and now total 268,800 tonnes. Cancelled warrants
total nearly 43%. World equity markets are trading higher today on higher
earning reports. The China credit party, which was supposedly going to have
the brakes put on this year, appears to be still going strong, and this has
traders encouraged as well. Nickel has punched thru minor resistance this
morning and it remains to be seen where it will close. It's President's Day
in the US, and government offices are closed.
Average price of cash nickel so far this month - $6.38/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(CFI) China's Baoshan Iron & Steel, the country's biggest listed steelmaker,
has recently announced to raise prices for its main products in March, the
third increase this year, it said on Feb. 12. The company will raise prices
of most steel products for March delivery by 50-80 yuan a tonne, with cold-rolled
coil up 50 yuan a tonne, while prices of hot-rolled coil keeps unchanged.
Matsa Resources expands nickel, copper targets at Symons Hill -
more
US AIIS Steel Exports Decline in December -
pdf here
Indonesia
does not see concentrate export permits until March at the earliest - Indonesia
does not expect to approve any export permits for mineral concentrates until
next month at the earliest, a senior government official said on Monday,
keeping one of the world's biggest mining industries at a standstill. -
more
Chinese steel
product exports surged 38% in Jan, steel outlook stable: CISA - According
to latest statistics released by the China Iron & Steel Association (CISA),
the country’s exports of steel products surged 37.6% year-on-year in
January. -
more
China Ore
Stockpiles Rise to Record on Financing Deals - Iron ore stockpiles in China,
the world’s biggest buyer, climbed to a record as traders increased
imports to use the steel-making raw material as collateral for credit and
domestic demand remained weak. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, February 14
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
$6.44/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses retreated off its most recent record high on Thursday
and now totals just under the 269,000 tonne level. Base metals are getting
a nudge higher from a weaker Dollar this morning, but little else is motivating
nickel trading, from what we can see. Asian markets ended higher overnight,
European markets are trading higher this morning, and US Dow futures are
slightly higher. The US Dow ended higher on better than expected earnings
reports, but the economic news was not as bright, and thus the weakness in
today's Dollar. US traders are also starting to place their bets that the
negative news in the economy and the testimony of new Fed Chairman Yellen
earlier this week, might mean the Fed could back off on its tapering in future
meetings.
Average price of cash nickel so far this month - $6.37/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) According to the latest SteelBenchmarker published by World Steel Dynamics,
the world export price of hot rolled band edged down by $2/t from end-January
to $562/t, which compares with the year-ago level of $592/t.
ThyssenKrupp's Q1 profit buoyed by Brazilian improvement -
more
Supply
of Nickel in 2014 to Be Strongly Supported by New Projects =Production is
planned to be increased by 5 new projects= The Government of Indonesia
implemented the export ban on nickel ore from January 12, and although the
price of nickel rose a few days prior to implementation, the impact to the
nickel market disappeared in a week or so after the implementation took place.
-
more
China
Ferrochrome: Import price edges up to 84-85 cents/lb CIF - The spot price
for South African charge chrome (48-52% Cr) imported into China was assessed
by Platts at 84-85 cents/lb CIF China on Friday, up from 83-84 cents/lb CIF
a week ago, following a deal closed in the range and higher price ideas from
Chinese buyers. -
more
Warehouse
firms walk away from reforming London Metal Exchange - A bid by the London
Metal Exchange (LME) to ensure clients can obtain aluminium faster from owners
of warehouses in its global network risks eroding its function as the world's
top metals marketplace. -
more
Steel trade
meltdown - Two big steel traders in Shanghai will face a series of lawsuits
in the next few months, highlighting the mounting credit crisis in the steel
trading sector. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, February 13
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
$6.51/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
approved warehouses rose to a new record high for a third consecutive session
on Wednesday and now total 269,256 tonnes. Two years ago today, warehouses
held 94,380 tonnes with 3.68% cancelled warrants. Cancelled warrants totaled
over 112,000 tonnes today. While Indonesia once again confirmed they would
enforce the nickel ore ban as it stands, some metal analysts continue to
believe this will inevitably change. This is weighing on the traded price
of nickel, which wants to climb higher on the ban, but this constant hum
that Indonesia may change its mind, is keeping the price in check. Nickel
is once again trading about its 10, 30, 100, and 200 day moving average and
closed above our minor resistance line yesterday. Major resistance is still
set up around $6.65/lb.
Average price of cash nickel so far this month - $6.36/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
PLATTS ANALYSIS: Chinese growth, steel output may slow in 2014 - Chinese
crude steel production surprised on the upside again in 2013 but this year
has started slowly, raising the possibility that 2014 could see China's economic
growth and steel sector start to plateau. -
more
Debt worries
cloud outlook for Finnish steel firm Outokumpu - Finnish stainless steel
firm Outokumpu reported a higher debt ratio on Thursday, raising concerns
over its cost of capital, even though it managed to trim underlying operating
losses more than expected in the fourth quarter. -
more
Vale
expects no increase - Jakarta-listed nickel miner Vale Indonesia expects
flat growth in its nickel production this year amid uncertainty in the
negotiation of its contracts with the government. -
more
Clive
Palmer's company Queensland Nickel not prosecuted over toxin discharge in
Barrier Reef marine park - The Greens and environmental groups say they are
alarmed authorities have not acted against Clive Palmer's company Queensland
Nickel (QNI) for discharging toxic material into the Great Barrier Reef marine
park without permission. -
more
Department
of Natural Resources sorts through 10,000 comments on proposed copper-nickel
mine - A proposed nickel and copper mine in northeastern Wisconsin
has generated a mountain of public comments. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, February 12
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
$6.43/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.09/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to another all time record high for a second
consecutive day and now totals 268,668 tonnes. China's trade surplus in
January jumped higher than expected, quieting fears that the Chinese economy
may be slowing, and base metals are trading higher on the news. Chinese markets
ended higher overnight, European markets are trading higher although the
Euro just took a dip on news European industrial output fell more than
expected in December, and the US Dow is quiet.
Average price of cash nickel so far this month - $6.34/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Despite Good Data, Headwinds Await Indonesia’s Economic Growth -
more
Investment in Quebec’s mining sector dropped further than forecast -
more
February 2014 Report: Small Business Confidence Edges Up, Ever So Slightly
-
more
China's nickel ore, pig iron prices to rise further in near term: Macquarie
- Prices of nickel ore and nickel pig iron in China are set to rise further
in coming weeks, Macquarie Commodities Research forecast Tuesday in a report.
-
more
Japan's Import
of Stainless Steel Scrap in December 2013 - The import statistics prepared
by the Ministry of Finance Japan shows the import of stainless steel scrap
in December 2013 by country in Table 1 and by discharge port in Table 2
respectively. -
more
Analyst
points to improving nickel sector conditions - A business analyst says conditions
are improving in the nickel sector but it is too early to declare that the
industry has 'bottomed out'. -
more
Royal
Nickel Corp: Indonesian Ore Export Ban Opens Door to the Next Generation
of Nickel Mines - Nickel prices have been weak, but the recent Indonesian
government announcement banning ore shipments outside the country may be
the shock that reverses the trend. -
more
Clive
Palmer's nickel refinery pumped toxic waste into Great Barrier Reef park
- A nickel refinery owned by Clive Palmer has released toxic wastewater into
the Great Barrier Reef marine park on several occasions despite being forbidden
from doing so, government documents have revealed. -
more
Lawmaker accuses
PolyMet as being a shell - A southwest Minnesota legislator claims the company
proposing a northeastern copper-nickel mine is a shell corporation that does
not have enough financial assets to assure that environmental problems it
leaves could be cleaned up. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, February 11
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
$6.42/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading quietly higher, Stockpiles of nickel stored
in LME approved warehouses rose to a new all time record high on Monday,
and now totals 267,138 tonnes. Cancelled warrants remain in the area of 40%.
World markets are in a better mood today, and Asian markets ended higher
overnight, European markets are trading higher today, and US Dow futures
are higher. Lot of news links posted below so we will leave you with nickel
still trying to decide what news China's re-opening for business will do
to demand.
Average price of cash nickel so far this month - $6.33/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
ENSO expected to remain neutral at least through autumn -
more
Nickel
Climbs to Two-Week High on Indonesia Export-Ban Concerns - Nickel climbed
in London to the highest in two weeks on mounting concern that Indonesia,
the world’s biggest producer, won’t relax its ban on unprocessed-ore
exports. -
more
USTKE
demonstrates against New Caledonia tax bill for SMSP - Unionists in New Caledonia
have held a demonstration outside the government building in Noumea in protest
at a tax bill given to the SMSP nickel company. -
more
Cash is king as global miners get set to boost payouts - Aggressive cost
cutting, volume growth and stable commodity prices will drive a rise in half-year
profits for the world's biggest miners, paving the way for healthy dividend
hikes now and anticipated capital returns in 2015. -
more
Production
Plan for Special Steel Products in Jan-Mar 2013 Is 5.2 Million Tons =Up by
11% from year-earlier period, and production for domestic is going well=
On February 3, Ministry of Economy, Trade and Industry made clear the production
plan for hot-rolled special steel products in the period from January to
March in 2014. -
more
Nickel
miner reveals improved outlook - Western Australian Wheatbelt nickel miner
Western Areas has improved its outlook for production and costs for this
financial year and flagged improved profits in its half-year results. -
more
Glencore
grows production volumes in ‘key commodities’ in 2013 - Glencore
Xstrata, the diversified miner and marketer of metals listed in London,
Johannesburg and Hong Kong, grew production volumes last year in several
key commodities, including copper, cobalt, ferrochrome and platinum group
metals, it said on Tuesday. -
more
Ramu mine:
Kurumbukari landowners angered - The Madang Provincial Government’s
assurance of addressing issues and benefits concerning the Ramu NiCo Project
has been questioned by the Tigina tribe in the Kurumbukari (KBK) area. -
more
Chinese steel
futures fall to a record low - Chinese steel futures fell to a record low
on Monday, before steadying in line with firmer equities, amid subdued demand
that has trimmed buying interest for iron ore. -
more
European
steel recovery remains fragile, says German industry body - An expected
recovery in the European steel sector could be derailed by fierce competition
and rising raw material and energy prices, the German steel association warned
on Tuesday. -
more
Courtesy AISI
- In the week ending February 8, 2014, domestic raw steel production was
1,839,000 net tons while the capability utilization rate was 76.8 percent.
Production was 1,875,000 net tons in the week ending February 8, 2013, while
the capability utilization then was 78.3 percent. The current week production
represents a 1.9 percent decrease from the same period in the previous year.
Production for the week ending February 8, 2014 is up 1.9 percent from the
previous week ending February 1, 2014 when production was 1,804,000 net tons
and the rate of capability utilization was 75.3 percent.
Win "timely"
for New Caledonia film about nickel - The organiser of the the Pacific
Documentary Film Festival, Miriama Bono, says the top winning film about
nickel in New Caledonia is timely, as people there prepare to vote on their
independence. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, February 10
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
$6.42/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading mixed and quiet. Stockpiles of nickel stored
in LME licensed warehouses fell on Friday and ended the week with just under
265,700 tonnes. Nickel has approached an initial line of weak resistance
- $6.48/lb and it si too early to tell how it will handle it. Major resistance
will be near $6.70/lb. China returned to work today and we could see some
volatility in the base metals market this week as traders jockey for position
on news and rumors. Asian markets closed higher overnight, European markets
are drifting this morning, and US Dow futures are slightly lower. A group
of Chinese analysts forecast what the price of nickel would do this week.
73% forecast the price would fall, 20% predicted it would rise and the balance
felt it will end the week flat. We will see.
Average price of cash nickel so far this month - $6.28/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
New Caledonian film wins top prize at FIFO film festival -
more
China May Face Renewal of EU Fastener Tariffs Challenged at WTO -
more
Russia hits
a new record in volumes of stainless steel imports - According to SpetsStal's
appraisal, the import of stainless steel in 2013, compared with 2013, rose
5.1% to 251.6 thousand tons. -
more
How to
kill an industry in Indonesia - Indonesia's exports of mineral ore are now
at a standstill, with unprocessed bauxite and nickel the target of an outright
ban and mining companies either refusing or unable to pay the draconian new
export duty on copper and the other concentrates that were given a 12th-hour
three-year extension. -
more
Cuba near
completion of biggest diesel power plant - State utility Unión
Eléctrica ompleted a trial run of the largest new fuel-oil power plant
on the island, official media reported. -
more
Mining
tax update - A quarterly review of tax developments and industry updates
for the global mining sector. In this issue, we summarize alternative financing
options, identify the needs of investors regarding reporting from mining
companies, discuss the economic impact of gold on the global economy, provide
an overview of a global gold, silver and copper price report, and update
readers on the Dodd-Frank Act. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, February 7
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
$6.33/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to within 30 tonnes of the record high and
ended Thursday just shy of the 266,700 tonne level. Base metals in general,
and nickel in particular, got a big jump in yesterday's trading when the
Euro jumped against the US Dollar. Nickel was already trading higher on news
that the Indonesia government had affirmed its nickel ore ban. The Euro is
trading off yesterday's highs today, but base metals are maintaining their
positive momentum. Markets are watching the US January jobs report today
closely and markets are betting that December's dismal numbers was a fluke
and analysts are predicting 185,000 jobs were created. The report will be
made public in a half an hour and this set the mood in US markets, which
tend to heavily influence European markets. It is looking more likely that
nickel traders have successfully established a new floor for nickel, and
that all eyes will shift to China on Monday. The anticipation that comes
with this re-opening, will probably keep the momentum positive, at least
in the short term. Then again, we have a jobs report hump to get over today.
Have a safe and relaxing weekend!
Average price of cash nickel so far this month - $6.28/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Judge throws out former BHP mine manager's unfair dismissal claim -
more
(Customs Statistics) Japan's Exports of Ferro Alloys in December 2013 -
more
Indonesia
miners must pay smelter cash guarantee -govt officials - Miners with smelter
plans in Indonesia will have to pay a financial guarantee to prove they are
serious about building domestic metal-processing plants, said mining ministry
officials. -
more
Metal trade wars could cost a pretty nickel - Nickel gained in London for
the first time in four sessions on signs that demand for the metal used to
make stainless steel will accelerate just as supply tightens on an ore-export
ban from top producer Indonesia. -
more
Billionaire
Vladimir Potanin Moves Some of His Assets to Charity - Billionaire Vladimir
Potanin, Russia’s sixth-richest person and a shareholder in OAO GMK
Norilsk Nickel, transferred some of the assets in his holding company to
charity. -
more
Russian nickel king Potanin gives his money to charity before divorce -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, February 6
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
$6.24/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals hardly trading. Stockpiles of nickel stored in
LME approved warehouses rose on Wednesday and now total just shy of the 266,000
tonne level. Nickel is trading higher this morning on yesterday's forecast
by MEPS that China production of stainless steel will increase this year.
That is what those of us who report on base metals trading would like you
to think, primarily we are desperate to explain the unexplainable. Today
is a little easier than most, with the other metals barely trading, but nickel
getting a nice little bounce and the MEPS report the only real news with
China closed for a holiday. In reality, it is more likely that nickel is
still working on finding a floor and this bounce is part of that strategy.
Since last Thursday, the market seems to be looking at $6.25/lb as
a possible floor and except for a bounce on last Friday, that faded as quickly
on Monday, nickel has traded fairly rangebound with this mark holding as
a floor. Today's bounce is either an attempt to break out of this range,
or a sign of desperation, but so far, remains within the week long range.
That is our opinion of course, and we all have one or two of those.
Average price of cash nickel so far this month - $6.28/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Cuban Nickel
Plant Announces Stoppage for Maintenance - Cuba will reduce production at
one of its two nickel plants this year so it can carry out maintenance and
capital improvements to make the plant competitive at low international prices.
-
more
Australian
nickel explorer aims to squeeze more out of big find - The last thing Australian
nickel explorer Sirius Resources wants is a quick recovery in the price of
the metal. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, February 5
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
$6.26/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mostly higher, but very quietly. Stockpiles
of nickel stored in LME approved warehouses fell for a fourth consecutive
session, with stores now totalling just over the 265,700 tonne level. Nickel
was unable to gain with other base metals yesterday, and while higher this
morning, it is already trading off earlier session highs. All base
metals are struggling to gain ground today. Chinese markets remain closed
for New Years holiday, European markets are trading higher this morning,
while US Dow futures are slightly lower at the moment. Nickel continues to
look for a floor to its recent fall, but so far, without success.
Average price of cash nickel so far this month - $6.28/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
North American
Stainless PR - For the month of February 2014, North American Stainless will
maintain the fuel surcharge at 33% for stainless flat and long products.
The surcharge rate is considered a maximum level for February and will be
reviewed monthly.
Stainless
Steel Production - Global Recovery Forecast For 2014 - MEPS - The annual
total global crude stainless steel production for 2013 is estimated to have
reached an all-time high of 37.3 million tonnes -
more
PolyMet Pitches
It’s Copper-Nickel Mine Project To St. Cloud Business Leaders - –
St. Cloud business leaders got an update today (Tuesday) on a proposed
copper-nickel mine on the Iron Range. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, 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
$6.27/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell for the third consecutive day with the total
now just over the 265,850 tonne level. While trading sentiment appears to
remain negative, base metals have apparently fallen too fast, and we are
seeing a small recovery today. Traders are desperately trying to find some
footing for nickel, with the price getting uncomfortably close to last months
pre-ban lows. The International Stainless Steel Forum released some preliminary
numbers for worldwide stainless steel production for the first nine months
of 2013. Yesterday's manufacturing PMI numbers did not impress, with a slowdown
in China only being overshadowed by a steep slowdown in the US. Both remain
positive, and bad weather may account for some of the US drop, but equity
markets reacted negatively and the US Dow saw a 350+ point drop. China remains
closed for their week long New Years holiday.
Average price of cash nickel so far this month - $6.27/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(RIN) Reuters reported at the end of last week that Russia’s Norilsk
Nickel produced 285,292 tonnes of nickel in 2013, a 5-percent decrease from
2012. The decline was due to a number of factors, including “a reduction
of grades in the processed ore, lower deliveries of semi-finished products
and the mothballing of its Lake Johnston operations in Australia.”
Global stainless
steel production in the 3rd - Preliminary figures released by the International
Stainless Steel Forum (ISSF) show that global stainless crude steel production
increased by +5.5% for the first 9 months of 2013 y–o–y. Production
for the first nine months of 2013 totaled 28 million metric tons (mmt), up
1.4 mmt in comparison to the same period of 2012. -
more
Indonesian
minerals ban bites as well as barks: Home - Indonesian minerals policy is
rarely a straightforward affair and so it proved again in the run-up to the
Jan. 12 ban on exports of unprocessed ores. -
more
Cuba to cut
nickel plant output for major overhaul - Cuba will reduce production at one
of its two nickel plants this year so it can carry out maintenance and capital
improvements to make the plant competitive at low international prices.
- more
Chinese stainless
steel growth likely to sustain, says Macquarie - According to the latest
research report published by Macquarie, the stainless steel output growth
will continue to maintain its momentum during 2014. -
more
Prices of CR Austenitic Stainless Sheets in Asia to Rise in Feb. - The market
of cold-rolled (CR) austenitic stainless steel sheets in the Asian region
is predicted to be slow until mid-February as it enters the long Chinese
New Year holidays in China. -
more
LME Ni
Price Continues to Drop and Inventory Updates All-time High Level =Speculators'
sentiment gets aggravated over fears of early reduction in U.S. QE3= LME
nickel price as cash seller settled on January 28 was US$14,080/MT, down
for 4 consecutive days. -
more
Courtesy AISI
- In the week ending February 1, 2014, domestic raw steel production was
1,804,000 net tons while the capability utilization rate was 75.3 percent.
Production was 1,839,000 net tons in the week ending February 1, 2013, while
the capability utilization then was 76.5 percent. The current week production
represents a 1.9 percent decrease from the same period in the previous year.
Production for the week ending February 1, 2014 is down 1.1 percent from
the previous week ending January 25, 2014 when production was 1,824,000 net
tons and the rate of capability utilization was 76.1 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, February 3
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
$6.35/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses fell on Friday and ended January just under
the 266,000 tonne level. With China closed for their New Year holiday,
relevant industry news is thin. The official Chinese manufacturing PMI slipped
1/2 point to 50.5, but remained positive. Nickel climbed back Friday
to close above its 100 day moving average, but has fallen below this level
today. Stochastic readings show nickel is trading in oversold territory,
while the RSI reading gives it some room for further loss. European markets
are trading quietly this morning, with US Dow futures slightly higher.
Average price of cash nickel so far this month - N/A
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China's
Production of Mo Concentrates in CY2013 Is 276,600 Tons =Down by 0.2% from
prior year by pressure from increase in ore import= According to the announcement
made by National Bureau of Statistics of China, China's production volume
of molybdenum in the calendar year 2013 was 276,605 tons (in pure Mo equivalent),
down by 0.2% from 277,122 tons of the prior year. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply 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 6:40 am CST today show 3 month nickel trading around $.07/lb
Reports
Commodity/Economic Comments
China's Nickel
Ore imports from Indonesia may collapse in February: Barclays - Despite the
January 12th ban on ore exports, Chinese imports of nickel ore were strong
in January, up 48% y/y, with a 55% y/y increase in imports from Indonesia.
-
RPT-In
metal warehouse overhaul, pressure shifts from LME to regulators - A series
of public and private meetings between the London Metal Exchange and its
staunchest critics in the United States has revealed a small but significant
shift in a years-long crisis over the exchange's warehousing policy, sources
said. -
Brazil's
Vale Sees Ebitda In Base-Metals Division Surging - Brazilian mining company
Vale SA expects cash generation from its base-metals division to roughly
quadruple through next year as new copper and nickel operations ramp up and
an Indonesian export ban drives prices higher, a company executive said Thursday.
-
PolyMet mine
environmental review's comment period not extended - The comment period on
an environmental review of what would be Minnesota's first copper-nickel
mine will not be extended past March 13, the state Department of Natural
Resources said Thursday. -
New
Caledonia nickel mine fined after acid spill - A landmark decision by the
court of appeal in New Caledonia has found against the Vale Nickel company
after a major acid spill damaged a UNESCO listed World Heritage lagoon. -
Another political party supports National Park at planned mine - Al-Pais
minority party president Guillermo Moreno on Wednesday slammed president
Danilo Medina’s "ambiguous position" regarding Xstrata Nickel’s
planned mine at Loma Miranda (central) and demands declaring it eminent domain.
-
ERAMET Group's
Production and Sales in 2013 - On February 21, ERAMET Group, France announced
its production and sales volumes in the calendar year 2013 as well as in
the period from October to December in 2013. -
NICKEL:
Celebration marks opening of Vale's Totten mine in Sudbury - Vale celebrated
what its calls its first new mine near Sudbury in over 40 years – the
2,200-t/d underground Totten nickel-copper mine – last Friday, Feb.
21, 2014. -
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.07/lb
Indonesia
to ease export tax, 1st rollback of mining rules - Indonesia will ease a
controversial tax on mineral concentrate exports for firms that build smelters
in the country, in the first rollback of new rules that have caused its mining
industry to grind to a halt. -
Stainless
Crude Steel Production by Major SUS Mills in Dec. 320,009 Tons =Up by 9%
from prior month and production in CY2013 is 3.63 million tons, up by 3%
from prior year= The stainless crude steel production by 7 major stainless
steel mills in December 2013 was 320,009 tons, up by 8.6% from 294,556 tons
of the prior month. -
Nickel
Set for 3rd Weekly Rise on Indonesia Ore Ban - Nickel headed for a third
weekly advance on speculation that a global surplus will shrink amid a ban
on exports of unprocessed ore in Indonesia and as U.S. manufacturing beat
estimates. -
Four
firms face suspensions over nickel contamination in Zambales town - Four
mining companies may have their operations suspended over nickel contamination
in the town of Sta. Cruz in Zambales since last year. -
Panoramic
soars on nickel discovery - Shares in nickel miner Panoramic Resources have
soared on news of a major discovery at its Savannah North project in the
East Kimberley. -
Scientists
warm over coming era of deep sea mining - The last great unexplored wilderness
on Earth is about to experience industrial-scale mining that could change
the face of the pristine seabed of the deep ocean for generations to come,
scientists have warned. -
PLATTS ANALYSIS: Chinese growth, steel output may slow in 2014 - Chinese
crude steel production surprised on the upside again in 2013 but this year
has started slowly, raising the possibility that 2014 could see China's economic
growth and steel sector start to plateau. -
Debt worries
cloud outlook for Finnish steel firm Outokumpu - Finnish stainless steel
firm Outokumpu reported a higher debt ratio on Thursday, raising concerns
over its cost of capital, even though it managed to trim underlying operating
losses more than expected in the fourth quarter. -
Glencore
grows production volumes in ‘key commodities’ in 2013 - Glencore
Xstrata, the diversified miner and marketer of metals listed in London,
Johannesburg and Hong Kong, grew production volumes last year in several
key commodities, including copper, cobalt, ferrochrome and platinum group
metals, it said on Tuesday. -
European
steel recovery remains fragile, says German industry body - An expected
recovery in the European steel sector could be derailed by fierce competition
and rising raw material and energy prices, the German steel association warned
on Tuesday. -
Win "timely"
for New Caledonia film about nickel - The organiser of the the Pacific
Documentary Film Festival, Miriama Bono, says the top winning film about
nickel in New Caledonia is timely, as people there prepare to vote on their
independence. -
Russia hits
a new record in volumes of stainless steel imports - According to SpetsStal's
appraisal, the import of stainless steel in 2013, compared with 2013, rose
5.1% to 251.6 thousand tons. -
Cuba near
completion of biggest diesel power plant - State utility Unión
Eléctrica ompleted a trial run of the largest new fuel-oil power plant
on the island, official media reported. -
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.02/lb
Global stainless
steel production in the 3rd - Preliminary figures released by the International
Stainless Steel Forum (ISSF) show that global stainless crude steel production
increased by +5.5% for the first 9 months of 2013 y–o–y. Production
for the first nine months of 2013 totaled 28 million metric tons (mmt), up
1.4 mmt in comparison to the same period of 2012. -
Chinese stainless
steel growth likely to sustain, says Macquarie - According to the latest
research report published by Macquarie, the stainless steel output growth
will continue to maintain its momentum during 2014. -
