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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Thursday, February 26

   On the road Feb 27th so the next news update will be Monday. Have a safe and relaxing weekend.

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Three month nickel closed Wednesday's trading session at $6.49/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb higher this morning, with other base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose to a new record high for only the second time this month, and now total 427,596 tonnes. It was really starting to look like LME inventories of nickel had possibly peaked out this month, but once again, a large influx yesterday has negated those thoughts. Nickel is trading about where it was two weeks ago, and we are starting to see some buying on China's return from their week long Lunar New Year break. The market remains in a funk, a mirror image of the world economies.  
  • Average price of cash nickel so far this month - $6.61/lb
  • Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb / avg 2012 - $7.95/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper surges to 6-week high as China holiday ends - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • U.S. Imports for Consumption of Steel Products January 2015 - more
  • Steel Founders' Society Of America January 2015 Casteel Reporter - pdf here
  • 2014 mining and metals deal volume and value lowest in 10 years - more
  • Reuters Metals Insider - pdf here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (FAN) The global ferrochrome market will be in a deficit of 150,000 mt, as demand from the stainless steel sector outgrows production, Turkey's Yildirim Group said Wednesday.
  • (POA) Bank of America Merrill Lynch expects the price to rise to US$25,000/t in 2015 while Wood MacKenzie has predicted a long term price of US$25,350 to US$ 26,460/t.
  • Brazil's Vale misses forecast with 2014 profit of $657 mln - more
  • Commodities trader Noble rejects fresh accounting allegations - more

    Aperam, Terni raise March stainless steel surcharges - European stainless steel producers Aperam and Acciai Speciali Terni have followed the the continent's largest producer, Finland's Outokumpu, in raising monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products for March. - more

    Another knock for stainless steel sentiment - Global: The stainless steel market is suffering from a lack of momentum. Constantly rising primary nickel stocks on the LME have helped to undermine sentiment and maintain the pressure on values in the stainless steel scrap sector. - more

    New Caledonia: Nickel – Market Insights - There are currently three key players in the nickel sector over in New Caledonia. French-owned ERAMET has been present in the country for over 120 years now and operate mines in New Caledonia through their subsidiary, SLN (Société Le Nickel). - more

    Nickel IPOs proposed in favourable market - Higher nickel prices and increased demand due to a ban on shipments of ore from Indonesia are expected to lead to a number of IPOs on the Philippines Stock Exchange this year by nickel producers aiming to take advantage of the favourable conditions by expanding existing operations and possibly starting new ones. - more

    Vale's Production Volumes of Mn Ore, FA, Ni and Co in Full Year 2014 = As compared with prior year, Mn ore and FA are down and Ni and Co are up = On February 19, Vale S. A., a major resource company in Brazil announced its production volumes of manganese ore, ferroalloys, nickel and cobalt in the full year 2014 (January - December) and also in the period from October to December. - more

    Building sustainable cities - With over half the world’s population now living in urban areas, the concept of sustainable or eco-cities has become increasingly attractive. - more

    The Socio-Economic Benefits of Nickel Commerce - Every day, we witness how people talk about sustainability as an essential aspect of modern living. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, February 25

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $6.51/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 unchanged. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just over the 425,300 tonne level. China is back to work, so traders will be watching to see if they start placing orders for nickel. No surprises from Fed Chair Yellen yesterday, and today she faces another round of questioning before Congress.
  • Average price of cash nickel so far this month - $6.61/lb
  • Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb / avg 2012 - $7.95/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls on economic uncertainty as China returns - more

  Reports

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (Tweet) Wood Mackenzie see a nickel shortage after overhang is consumed by 2018, some 778,000t of new nickel by 2030 and 300,000t by 2018
  • China factories run at fastest for four months despite fall in export orders - more

    Vale to pay Newfoundland $230-million for nickel export boost - Mining giant Vale SA will pay Newfoundland and Labrador $230-million for letting the company export more Voisey’s Bay nickel concentrate while a processing plant ramps up in the province. - more

  • ‘This is not acceptable’: Nunatsiavut president - The announcement of yet another amendment to the Voisey’s Bay Development Agreement came as a surprise to Nunatsiavut President Sarah Leo, who says her government was never consulted on the deal. - more

    Gungnir Resources Stakes Two Nickel Deposits in Sweden - Gungnir Resources Inc. is pleased to announce that it has successfully staked two nickel deposits with historical resources in the Vasterbotten District of northern Sweden. - more

    Steel is an integral part of the global circular economy - The World Steel Association (worldsteel) today announced the launch of a new publication ‘Steel in the circular economy - A life cycle perspective’. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, February 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $6.41/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 fell on Monday and now total just under the 424,550 tonne level. Nickel successfully stayed above support late last week, and is showing some signs of a possible bottom. The Greece agreement and the return of China from its annual Lunar New Year shut down have traders in a better mood, and eyes now shift to Congressional testimony over the next few days by Fed Chair Janet Yellen. US stainless steel surcharges have been updated here.
  • Average price of cash nickel so far this month - $6.62/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • Reuters metals morning - Copper rises as Greek panic abates, awaits Fed speech - more

  Reports

  • Metals Deals: Forging Ahead 2015 outlook and 2014 review - more
  • Reuters Metals Insider - pdf here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    Copper, nickel prices down 10% in 2015 - International prices for copper and nickel are down 10% or so since the start of the year and remain sluggish due largely to a prolonged slowdown in growth of Chinese demand, which accounts for 40% of global demand. - more

    Outokumpu European stainless steel surcharges edge higher for March - Monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products for March in Europe are set to rise modestly, reversing the previous month's decline, first mill announcements indicated Monday. - more

    More Nickel Than Expected Discovered In Solomons - The Solomon Islands government says Axiom Mining Limited has discovered there is a lot more nickel at the Isabel Province site than previously thought. - more

    Scotiabank Commodity Price Index Falls Below April-2009 Recessionary Low - Scotiabank’s Commodity Price Index plunged again in January, -8.6% month-over-month (m/m) or -27.9% year-over-year (yr/yr), dropping below the April-2009 low during the ‘Great Recession.’ Commodity prices are now at levels last seen in January 2007. - more

    Ramu Nico: Mine still running at loss - Despite the technical, social, economic and cultural challenges faced in 2014 by Ramu Nico, company president Wang Jicheng set this year’s production target at 83 percent capacity rate in line with requirements from the MCC-Group. - more

    Courtesy AISI - In the week ending February 21, 2015, domestic raw steel production was 1,716,000 net tons while the capability utilization rate was 72.6 percent. Production was 1,824,000 net tons in the week ending February 21, 2014, while the capability utilization then was 75.8 percent. The current week production represents a 5.9 percent decrease from the same period in the previous year. Production for the week ending February 21, 2015 is down 2.5 percent from the previous week ending February 14, 2015 when production was 1,760,000 net tons and the rate of capability utilization was 74.8 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, February 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $6.34/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME approved warehouses fell over 1000 tonnes on Friday and now total just over the 424,900 tonne level. Nickel is holding above the $6.27/lb support level, but with little enthusiasm. The Euro is weaker today, and oil is trading under $50/barrel again, but nickel is nudging up. Nickel's short, mid and long term trends are all negative, but with China returning to work this week, we could see the short term trend take a positive turn. Dockworkers and west coast dock reached a tentative agreement late Friday and have returned to processing imports and exports. Analysts warn of a five month backlog though, which means delayed shipments will continue.
  • Average price of cash nickel so far this month - $6.66/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper dips on concern over Greek deal, as oil falls - more

  Reports

  • Worldsteel Monthly Statistics for January 2015- pdf here
  • The Dig – Haywood Mining Team’s week in review - pdf here
  • Reuters Metals Insider - pdf here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    LME warehousing; overdue reform or regulatory overreach? - What to make of last week's mass cancellations of zinc at London Metal Exchange (LME) warehouses in New Orleans? - more

    U.S. Molybdenum Import & Export Balance in 2014 = Both import and export are drastically up from prior year - According to the calculation to figure out volumes of molybdenum import and export in pure Mo equivalent based on foreign trade statistics of United States Department of Commerce, the export volume in the full year 2014 (January - December) was 70.20 million lbs, up by 22.0% from 57.53 million lbs of the prior year, and the import volume was 43.22 million lbs, up by 19.7% from 36.11 million lbs of the prior year. - more

    Ravensthorpe proves a profit spinner - Canada's First Quantum Minerals booked a $US117.3 million pre-tax profit on its Ravensthorpe nickel mine last year, before a burst acid tank forced its temporary closure in December. - more

    Asian Mineral Resources: Taking on Nickel in Vietnam - Nickel-focused investors may not know much about nickel in Vietnam, but that could soon change thanks to Canada's Asian Mineral Resources. - more

    BHP Billiton spin-off a bright spot in commodities gloom - When global miner BHP Billiton reports its half-year results on Tuesday, the only parts of the company that are likely to report profit growth are some of the unloved assets it aims to spin off by June. - more

    Asian HR Coil Market Plunges into War of Attrition for Survival - Export negotiations on hot-rolled (HR) steel coils in the Asian region are expected to start for countries starting with Korea for April shipment as early as early March. - more

    MDC slams Mnangagwa for “trained to kill” comment - Recent remarks by Emmerson Mnangagwa to the effect that " he was trained to kill " are a morbid , wicked and nefarious attempt to instill fear not only in the hearts of the management of Tongaat Hulett and Bindura Nickel corporation but also in the hearts of all peace-loving Zimbabweans, says the MDC. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Friday, February 20

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Thursday's trading session at $6.33/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals trading lower. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and now total just over the 425,900 tonne level. With another support level at $6.26/lb within view, traders are pushing nickel higher today, but based on the chart, with little enthusiasm. China returns to work after a week long Lunar New Year holliday next week, and a surge in buying is expected. How much of a surge that actually happens, could give nickel a boost next week. The Euro continues to trade lower today, adding negative pressure on base metals. Nickel is trading $.30/lb lower than this time last Friday, and $.24/lb lower than this day last month. Have a safe and relaxing weekend!
  • Average price of cash nickel so far this month - $6.69/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • Reuters metals morning - Copper edges down, Chinese consumers on holiday - more

  Reports

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    January 2015 crude steel production - World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 133 million tonnes (Mt) in January 2015, a -2.9% decrease compared to January 2014. - more

    Japan ferrochrome: Slips to 85-87 cents/lb amid Lunar New Year lull - Platts assessed spot price of high-carbon ferrochrome imported into Japan at 85-87 cents/lb CIF Japan Friday, down from 86-88 cents/lb CIF last week, amid a Lunar New Year holiday lull. - more

    LME Mo Price Updates Record Low with US$17,400/MT = Cheap level since 2004 = LME molybdenum price (cash seller/settlement and 3-month seller) dropped down to US$17,400 per ton (= US$7.89 per lb) on February 13. - more

    Negotiations on CR Austenitic Stainless May Face Anxiety after Lunar New Yr - Negotiations on cold-rolled (CR) austenitic stainless steel sheets have almost stopped in the Asian region. - more

    Budget 2015: Stainless steel makers seek higher customs duty - Ahead of the budget, stainless steel firms have asked the Finance Ministry to increase customs duty to 25 per cent from 10 per cent at present to safeguard the interest of domestic firms in view of growing imports.- more

    Asian Mineral Resources: Taking on Nickel in Vietnam - Nickel-focused investors may not know much about nickel in Vietnam, but that could soon change thanks to Canada’s Asian Mineral Resources. - more

    Bindura Nickel spends US$7 million on new equipment - Mwana Africa’s Bindura Nickel Corporation (BNC) has spent US$7 million in acquiring new equipment and refurbishing existing machinery as the company seeks to grow its business. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, February 19

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $6.44/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.09/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 425,600 tonne level. Having closed at or below support for two consecutive days, nickel prices have collapsed to prices not seen since last February. The difference being that last February, prices were on the increase. The bulls are in hiding and apparently are not betting that the Chinese will return from their holiday break in a buying mood. The deficit in worldwide nickel production has yet to materialize, even after 14 months of forecasts that it would happen. And while the doom and gloom forecasts continue to get pushed out to "next month; or 'next year', we remain on the supply side of the cyclical supply & demand up and down that has been experienced in base metals production forever. When we run low on supply, the mining companies all jump in to fill the void, and eventually that production exceeds demand. That is where we are today. The nickel market 'needed' Indonesia to invoke an ore ban, and rumors that Norilsk encouraged Indonesia not to change their minds, makes complete sense.
  • Average price of cash nickel so far this month - $6.72/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Nickel slumps to year low, others weighed down by oil's slide - more

  Reports

  • Great American Group Metals Monitor - pdf here
  • Reuters Metals Insider - pdf here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (Triland) “We did see some static data showing nickel had a 197,000-tonne surplus from January-December in comparison with 186,700 tonnes in 2013, thus proving demand is being outweighed by production.”
  • (SSY) China's daily crude steel output continued to decline at the start of February as demand weakened and some steel mills scheduled maintenance in advance of Chinese New Year, SteelFirst reports. Daily production at China Iron and Steel Association member mills dropped to 1.63 Mt in the period 1-10 February, down from 1.69 Mt/day in the preceding eleven days, according to data from the industry association.

    Nickel West cuts 50 jobs - BHP Billiton has laid off about 50 workers at its Nickel West division over the past two weeks, following its failure to sell the struggling WA operation. - more

    BIR Stainless World Mirror February 2015 - Global: The following article is based on the latest Stainless Steel & Special Alloys World Mirror produced by the BIR world recycling organisation for the benefit of its members. - more

    Brazil's Vale beats iron ore forecast, takes nickel crown - Brazilian miner Vale SA said on Thursday it produced 319.2 million tonnes of iron ore in 2014, beating its forecast for the year, as it begins to boost production after years of stagnation. - more

    Chrome sector considers power imports as high tariffs choke sector - The chrome sector is seriously considering importing power dedicated for its smelters as local tariffs are being charged at a premium, stifling the viability of the sector, mines minister Walter Chidhakwa has said. - more

    BCL smelter shut down lead to 52.1% production decline - The shutting down of the BCL smelter last year in July and over the first week of August contributed to a 52.1 per cent decline of the Copper-Nickel-Cobalt Matte production in the third quarter of 2014 in comparison with the corresponding quarter of the previous year, records at Statistics Botswana have indicated. - more

    January 2015 Shipments Lower - U.S. shipments of both steel and aluminum decreased from levels a year ago in January. Canadian results were similar. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, February 18

    Due to inclement weather, we will not be updating today. Nickel closed at $6.46/lb yesterday, and is trading $.04/lb lower this morning. Stockpiles slipped yesterday and now total just under 425,800 tonnes.

Tuesday, February 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $6.62/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.11/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just over the 426,100 tonne level. Base metals in general, and nickel in particular, are getting whacked by a sharper lower Euro this morning, again on concerns about Greece. China's closing for their Lunar New Year, has in the past, given speculating nickel traders, a reason to drive prices higher. That enthusiasm has yet to develop, and Greece seems to have the markets entire attention. We still show major support at $6.46/lb. An agreement in Europe between Greece and other members of the EU could give nickel a big bounce. Anything less, could be deeply concerning.
  • Average price of cash nickel so far this month - $6.74/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Business World metals morning - Nickel slides seventh day as China property prices decline - more
  • Bloomberg metals morning - Copper Falls With Nickel Sliding for 7th Day on China Homes Data - more
  • Reuters metals morning - Copper falls after Greek talks collapse; tin shrugs off quota - more

  Reports

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • China's Steel Export by Destination in 2014 - more
  • Australian cyclone's forecast path crosses BHP, Rio, Glencore mines - more
  • Tropical Pacific Ocean remains ENSO-neutral - more

    Mwana Africa Shares Drop As Gold And Nickel Production Falls - Shares in Mwana Africa PLC were sold off on Monday after the company reported drops in gold and nickel production in the final quarter of 2014. - more

    Norilsk, Russia -- The inescapability of the company town on Russia’s tundra - There are many ways of framing Arctic climate change. On the one hand, countries in the south often see themselves as potential victims of the melting Greenland ice sheet and rising sea levels. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, February 16

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $6.67/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.06/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 now total just over the 425,800 tonne level, only 486 tonnes shy of the all time record high. SMM is reporting nickel ore stockpiles at five of China's major ports fell by 145,000 tonnes to total 11.71 million tonnes. Nickel ore stockpiles measured by SMM have fallen for four consecutive months. We expect the market news to be on the quiet side for the next few weeks, as China shuts down later this week for the Lunar New Year holiday. We could still still some traders gambling that China will return in a more enthusiastic mood as they have been and drive nickel prices higher, but there is little evidence to see any increase in demand is inevitable. We have major support at $6.46/lb but see no reason to believe nickel will test this unless something happens in Europe to drive the Euro much lower.
  • Average price of cash nickel so far this month - $6.76/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper dips and volume falls before Lunar New Year holiday - more

  Reports

  • The Dig – Haywood Mining Team’s week in review - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (WTO) WTO declared that the antidumping duties on stainless steel tubes imposed by China on EU and Japanese imports are illegal in the light of WTO rules.
  • (Reuters) South African power utility Eskom said on Saturday it was imposing "Stage 2" rolling blackouts until 2000 GMT due to pressure on the national grid and the need to build up diesel reserves and water in hydropower dams.
  • Japan's out of recession - but not with any great conviction - more

    February Purchase Price of Ni SUS Scrap by SUS Mills Remains Unchanged = Domestic demand is weak, and price cut is likely depending on Ni price = February purchase price of nickel-containing stainless steel scrap (SABOT) by Japanese Stainless Steel mills has started with JPY155,000 - JPY165,000 per ton (delivered at factory). The price has continued to be flat since it dropped in late January. (Hereinafter, The price is per ton.) - more

    China's steel outlook set to fall - China's steel market is expected to decline in the next 30 days due to weaker expectations for new domestic and export orders ahead of the weeklong Chinese New Year holiday, according to the latest Platts China Steel Sentiment Index (Platts CSSI). - more

    Indonesia Plans to Raise Coal Royalties by End of First Quarter - Indonesia plans to raise coal royalties by the end of the first quarter to boost mining revenue amid shrinking incomes from oil and gas, according to an official at the Energy and Mineral Resources ministry. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Friday, February 13

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Thursday's trading session at $6.69/lb . Indicators at 6:50 am CST today show 3 month nickel trading flat, with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME approved warehouses rose on Thursday but came up just short of a new record level, starting today just over the 426,200 tonne level. Once again, we are seeing base metals benefiting by a firmer Euro, with nickel lagging. The labor dispute between union dockworkers and shipping companies has taken a turn for the worst, with the ports locking dockworkers out yesterday, and expected to do the same today. Shipments that have been delayed by slow down protests by dockworkers, has now ground to a halt, with major implications possible for the US economy. Base metal production in China has ground to a halt in anticipation of the week long New Year holiday shutdown. Surprising strong economic news from Germany is helping boost the Euro, and equity markets. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $6.77/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • Reuters metals morning - Copper holds steady, strong euro supports - more

  Reports

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • German growth stunner cheers markets - more

    Sherritt posts bigger-than-expected loss as nickel prices fall - Canadian miner Sherritt International Corp reported a much wider-than-expected quarterly loss as nickel prices fell due to a supply glut and weak demand from China. - more

    Stainless Crude Steel Production by Major SUS Mills in December 280,006 Tons = Up by 5.7% from prior month, and influence of production recovery at Nisshin Steel's Shunan Works is big = The stainless crude steel production by 6 major stainless steel mills in December 2014 was 280,066 tons, up by 5.7% from 264,959 tons of the prior month. - more

    Nickel Producer Central Omega Ramps Up Smelter Investment - Listed Indonesian nickel producer Central Omega Resources is ramping up its investment plan by 33 percent to build a smelter in Morowali, Central Sulawesi. - more

    Domestic stainless steel prices keep growing - Average supply price for CR flats (2mm) in January 2014, compared with December 2014, increased: - more

    Appeal over Solomons nickel deposit - Japanese mining giant Sumitomo has a court date for its appeal against Axiom Mining's ownership of a nickel deposit in Solomon Islands Isabel province. - more

    US Nickel scrap exports soared in 2014 - The latest statistics released by the US Department of Commerce (DOC) indicates that the country’s Nickel scrap exports were down by 26% in December ’14 when compared with the previous month. However, the cumulative exports during the entire year 2014 soared higher by over 18%. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, February 12

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $6.70/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 425,300 tonne level. Nickel is bucking the boost a weaker Dollar is giving base metals traders this morning, but is showing signs of possibly trading in positive territory before the day is over. The Euro got a bounce late yesterday when EU officials announced a deal with Greece was more likely after a major stumbling block was cleared. A new cease fire agreement in Ukraine is also helping markets this morning. The geopolitical news is positive, but we have been here before on both topics, so...? Read the Damstahl report below - it's one of the best free monthly reports we have found.
  • Average price of cash nickel so far this month - $6.79/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper gains on dollar pullback, Greek talks in focus - more

  Reports

  • Damstahl Stainless Steel Report - February 2015 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (CFI) Taiwan’s fastener exports hit record high in 2014 with the export volume up 9.31% year-on-year to 1.52 million tons and the value up 10.12% to USD 4.3 billion.

    LME Ni Average Price in January Down by 7.2% from Prior Month = It rebounds and stagnates after rising early in January, and month-end inventory increases to 425,000 tons = LME monthly average price in January 2015 was <> Cash seller: US$14,770.95 per ton (US$6.700 per lb) and <> 3-month seller: US$14,837.38 per ton (US$6.730 per lb). - more

    China seizes upper hand in iron ore market after deal with Vale - “Resolution of the dispute coincides with a paradigm shift in the global iron ore trade from a seller’s market to a buyer’s market. China has regained pricing power it lost in the past decade over imported iron ore,” said Jiang Ming, an analyst at Haitong Securities - more

    worldsteel announces the world champions of steel challenge-9 - The World Steel Association (worldsteel) today announced the new world champions of the 9th steel challenge. - more

    Lucky Ludwig the otter is rescued from a 'sticky' situation under a factory conveyor belt - An otter who got himself into a sticky situation at a refinery has been rescued. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, February 11

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $6.72/lb . Indicators at 6:40 am CST today show 3 month nickel trading little changed, with other London traded base metals trading sideways as well. Stockpiles of nickel stored in LME approved warehouses slipped on Tuesday, and now total just over the 426,000 tonne level. Cancelled warrants have slipped the last few days, possibly reflecting a slack in buying interest due to the upcoming week long China shutdown. So far this year, nickel has traded between $6.35/lb and $7.00/lb. For the last few weeks, that range has narrowed to $6.50/lb to $7.00/lb. Like BHP, Vale is finding it difficult unloading its nickel business during a period of lower nickel prices. And while most analysts are forecasting higher nickel prices right around the corner, apparently those with the money to invest in working nickel mines, are not convinced any increase would remain long term.
  • Average price of cash nickel so far this month - $6.81/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rebounds after loss, tin hits fresh 2-1/2 year low - more

  Reports

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (Tweet) Asian Metal Statistics: Chinese nickel cathodes output totaled to 207,336t in 2014, up by 6.89% from 2013.
  • (SSY) Daily crude steel output at China Iron and Steel Association member mills continued to decline in the last 11 days of January, dropping to 1.688 Mt, according to data from the industry body reported by SteelFirst.
  • (CF) U.S. fastener imports of iron and steel fasteners (HTS Code: 7318) jumped 7% month-to-month to $401,828,220 in December and exports dropped 7% to $292,258,751.
  • The NFIB Small Business Optimism Survey for January slipped 2.5 points to 97.9 with seven components dropping, one unchanged, and two slightly increasing. - more

    Nickel's bull story; just a simple matter of timing?: Andy Home - The nickel market went on a super-charged rally over the first half of last year, the benchmark London Metal Exchange (LME) three-month price racing up from below $15,000 per tonne to a May high of $21,625. - more

    Vale's CEO rules out nickel IPO, writedowns - Vale's chief executive said on Tuesday that a possible initial public offer of part of its nickel division was off the cards for now due to low prices for the commodity, but that other asset sales could be expected over the coming year. - more

    Nyota Minerals Shares Soar On Deal For Italian Nickel Project Stake - Nyota Minerals Ltd on Tuesday said it has entered into a cash and shares deal to buy a 70% stake in KEC Exploration Pty, the owner of an exploration permit for a nickel project in Italy. - more

    Seven charged for Ramu mine office damages - Seven people, including a man of Asian origin, have been charged in connection with the damage at the Kurumbukari Ramu Nickel office in Madang. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, February 10

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $6.83/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.11/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to a new record high on Friday, reaching 426,324 tonnes. Yesterday those numbers slipped by a few hundred tonnes. Base metal prices are getting hit by weak economic news from China, and the Euro trading lower with the war of words with Greece ongoing. In the mean time, it remains rangebound, trading on the higher side of the $6.50/lb to $7.00/lb spread. China shuts down for a week starting next Thursday for the Chinese New Year celebration, and buying interest has waned. We would be surprised if the price of nickel does anything major for the rest of the month, although traders have a history of betting things will pick up after the New Year in China. This enthusiasm can last thru May, when reality will finally hit. Stay tuned. 
  • Average price of cash nickel so far this month - $6.82/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls on renewed worries over China growth - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Commodity prices from the February 2015 issue - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) Chinese steel exports totalled a record 10.3 Mt in January, up 3.5 Mt year-on-year, according to preliminary customs data. This is the fifth month in succession exports have set a new all-time high. In contrast, iron ore imports fell to 78.6 Mt in January, down from 86.7 Mt in December and a fall of 8.3 Mt from the record high achieved in January 2014. There was an even sharper drop in coal imports (incl. lignite) which plunged 19.1 Mt year-on-year, the largest annual decline in volume on record, to 16.8 Mt.
  • China lifts three-year ban on Valemax cargo ships - more
  • Russian Train Drivers Fired Over Attempt to Crash Into Bear - more

    Production of Stainless Steel Products in November 2014 Is 219,621 Tons = Down by 17% from prior month, and month-end inventory was down, too = The Ministry of Economy, Trade and Industry announced the production volume of stainless steel products (hot-rolled products) in November 2014 was 219,621 tons, down by 17.5% from the prior month and down by 4.6% also from the year-earlier month. - more

    India: Stainless steel makers cut prices by 7-10% to match imports, call for tariffs - Stung by cheap imports from ASEAN and free trade agreement (FTA) countries, stainless steel manufacturers have cut prices to 7-10% below the cost of production. - more

    China ferrochrome: Domestic spot prices unchanged as trading slows - The domestic spot price of 50% Cr Chinese high-carbon ferrochrome was assessed unchanged week on week Wednesday, February 4, at Yuan 6,400-6,600/mt (equivalent to 78-80.5 cents/lb), including 17% VAT and delivery. - more

  • Japan ferrochrome: Prices flat on week in thin trade - more

    Sumitomo Metal cuts profit f'cast on appraisal loss on Goro nickel stake - Sumitomo Metal Mining Co Ltd on Monday lowered its net profit forecast for the 2014 business year by 15 percent due to an estimated appraisal loss of $220 million on its stake in Vale New Caledonia (VNC), the operator of the Goro nickel project. - more

    Molybdenum production up, use down slightly - Global production of molybdenum increased to 150.3 million pounds for the third quarter of 2014, up 5% from 142.9 million pounds in the previous quarter, and 11% higher compared with the same period in 2013, figures released today by the International Molybdenum Association (IMOA) show. - more

    Courtesy AISI - In the week ending February 7, 2015, domestic raw steel production was 1,769,000 net tons while the capability utilization rate was 74.8 percent. Production was 1,824,000 net tons in the week ending February 7, 2014, while the capability utilization then was 75.8 percent. The current week production represents a 3.0 percent decrease from the same period in the previous year. Production for the week ending February 7, 2015 is down 0.7 percent from the previous week ending January 31, 2015 when production was 1,782,000 net tons and the rate of capability utilization was 75.4 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Friday, February 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Thursday's trading session at $6.84/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.08/lb lower, with most other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and now total just over the 424,200 tonne level. Cancelled warrants rose over the 27% level for the first time since August of last year showing some buying interest. SMM reports inventories of nickel ore held at five major China inventories fell 289,000 tonnes to 11.85 million tonnes last week. This is a drop of 1.8 million tonnes since the end of 2014. Nickel remains rangebound, unable to break above the $7/lb level earlier this week. Having followed this market for years, we have learned to accept the fact that fundamentals, the whole law of supply and demand, mean far less to the trading price of nickel than it once did. Yes, traders used the Indonesia ban on nickel ore as an excuse to rise prices last year, only to see them crumble when the world glut in nickel and slowdown in demand proved the predictions of doom and gloom to be false. And for the most part, that glut in world nickel production continues. How long it will last is anyone's guess. But for the 21st century, if you wanted to monitor demand for nickel, you cast your eyes to China. So the news out of China that steel production may have peaked there last year, means a major shift in calculations. Will it matter to the traded price of nickel? We will have to wait and see. Have a relaxing and safe weekend.   
  • Average price of cash nickel so far this month - $6.83/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • Reuters metals morning - Copper edges lower as dollar gains, U.S. jobs data eyed - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    Sherritt (T.S) reports record production levels at Madagascar nickel operation - Sherritt International's 40% ownership of the Ambatovy nickel operation located in Madagascar really paid off today when the company announced operational results for January 2015. - more

    Import of SUS Products in December 2014 Is 10,623 Tons = Down by 27% from prior month, and imports from 3 major countries are grossly down = The import volume of stainless steel products in December 2014 which was compiled by the Japan Iron and Steel Federation based on the trade statistics prepared by the Ministry of Finance was 10,623 tons, grossly down by 26.5% from 14,453 tons of the prior month. - more

    Has China reached ‘peak steel’? - A term gaining currency among China commodity watchers is “peak steel”, something that sounds ominous, especially to iron ore and metallurgical coal miners. - more

  • Steel capacity likely to grow this year due to slower demand: industry ministry - more

    Finland: Talvivaara gets extra time for restructuring plan - The beleaguered Finnish mining company Talvivaara has caught a break in the form of extra time to resubmit a restructuring proposal to write off the company’s debts and find new investors to refloat the business. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, February 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $6.83/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.12/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 423,500 tonne level. Base metals are feeling the pressure of a Euro that got hammered overnight. The EU threw down the gauntlet on Greece late yesterday and while Greece scrambles to determine its next move, the Euro suffered in the short term. It's up a little this morning, but base metals trading had ended for the day when the announcement was made, so they had negative pressure to face this morning. At its present trading level, nickel is trading just over 7-1/2% higher than the 2014 average, but 18% lower than nickel averaged in 2013. For those who like to make metals forecasts on their own, please read the article 'Crude steel output to drop in 2015: CISA' posted below. This is a stunning forecast, and if it proves true, will cause those analysts who have forecast large increases in the price of nickel later this year, a potentially stressful day.    
  • Average price of cash nickel so far this month - $6.86/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Industrial Metals Drop as Dollar Climbs on Greece Funding Woes - more
  • Reuters metals morning - Copper slides after inventory surge highlights surplus - more

  Reports

  • Scotiabank Commodity Price Index - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MF) China’s stainless steel output up by 8% in 2014
  • PMA Makes “All-in” Offer to ILWU as Contract Talks Lag - pdf here

    ANZ Cuts 2015 Industrial Metals Forecasts on China Slowdown - Australia & New Zealand Banking Group Ltd. cut its price forecasts for industrial metals this year by as much as 19 percent on concern that further economic troubles are ahead for China, the world’s largest consumer. - more

    First Quantum forecasts 2015 Ravensthorpe nickel output of 24,000-30,000 T - First Quantum Minerals on Thursday said its Ravensthorpe nickel plant in Australia will run at 70 percent of capacity while it conducts repairs following an acid spill in December, forecasting output of 24,000-30,000 tonnes for the year. - more

    Crude steel output to drop in 2015: CISA  - China's crude steel output is expected to fall by 1.07 percent year-on-year to 814 million tons in 2015, an industry official said Wednesday, adding that demand has already peaked. - more

  • Chinese iron ore imports seen rising to 1 bln tonnes as top miners rule - more

    Indonesia 2014 growth slowest in 5 years - Jakarta: Indonesia’s economic growth slipped to its weakest in five years in 2014 as weak exports and investments dragged, underlining the challenges facing the country’s new President Joko Widodo. - more

    Mining Projects Group raising funds for nickel exploration -  Mining Projects Group has been granted a trading halt by the ASX pending details of a capital raising. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, February 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $6.99/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.17/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday dn now total just shy of the 424,800 tonne level. Nickel punched thru resistance at $7.02/lb twice in yesterday's session, but was unable to close above that point. Today, markets are in retreat, although China did announce the stimulus that markets had been gambling on the last few days. For now, nickel remains rangebound, although this month we have moved to the high side of that range..... so far.
  • Average price of cash nickel so far this month - $6.90/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs for 4th Day as China Takes Steps to Boost Growth - more
  • Reuters metals morning - Copper edges higher after China cuts bank reserves - more

  Reports

  • Desjardin's 'After a difficult 2014, prices haven't stabilize yet' - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • China’s central bank cuts reserve ratio for banks by 50 basis points to spur growth - more
  • Letter: Don’t forget Cuba’s history as we change our foreign policy - more

    China ferrochrome: Domestic spot prices unchanged as trading slows - The domestic spot price of 50% Cr Chinese high-carbon ferrochrome was assessed unchanged week on week Wednesday, February 4, at Yuan 6,400-6,600/mt (equivalent to 78-80.5 cents/lb), including 17% VAT and delivery. - more

    Stainless steel makers cut prices by 7-10% to match imports, call for tariffs - Stung by cheap imports from ASEAN and free trade agreement (FTA) countries, stainless steel manufacturers have cut prices to 7-10% below the cost of production. - more

    New Infographic: Nine Lives of Steel - What do steel and a cat have in common? They both have at least nine lives. worldsteel has just issued a new infographic titled 'Nine Lives of Steel'™. Check it out and learn about the recyclability of modern steel. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Tuesday, February 3

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $6.91/lb . Indicators at 6:40 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 store din LME approved warehouses fell for a second day on Tuesday and now total just over the 425,500 tonne level. The Baltic Dry Index fell to its lowest level since August 1986. What was once a major measure of base metals transport, is now another gauge generally overlooked by the computers who manage most trades. Base metals, as well as equity markets, are trading higher this morning, on speculation China will give its economy a  boost with a stimulus, Greece appears to be backing some of its earlier demands, climbing oil prices, and a nagging doubt that the US Fed will ever risk raising interest rates in light of negative and less than enthusiastic economic reports. Nickel is approaching a major line of resistance, both technically and psychologically, around $7/lb.
  • Average price of cash nickel so far this month - $6.83/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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises Most in 18 Months on Outlook for Chinese Stimulus - more
  • Reuters metals morning - Copper climbs, but demand concerns seen snuffing out gains - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SMM China) For these reasons, Wood Mackenzie predicts that the first half of 2015, global nickel prices are expected to return to the high point in June 2014, that is $19,000 - $20 000 US dollars / ton (US $ 8.60-9.05 / lb), expected to rise in the third quarter of 2015 to $23,000 dollars - $24 000 US dollars / ton, and in the second half of 2015, the average price of nickel is expected to more than 22,000 US dollars / ton.
  • Chinese employers bullish on hiring over next 12 months, survey finds - more
  • Baltic index slide continues as capesize and panamax rates drop - more
  • United States ISM Purchasing Managers Index (PMI) - more
  • Tropical Pacific Ocean ENSO-neutral - more

    Axiom planning nickel production by year end - The final resolution of long-running litigation between Japan's Sumitomo and Axiom Mining over control of a large nickel deposit in the Solomon Islands, which is expected around Easter, is likely to see development work on the project accelerated with the intention of achieving initial exports of ore by year end. - more

    Asia's Prices of CR Ferritic Stainless Sheets Fall below $1,300 CFR - Prices of cold-rolled (CR) ferritic stainless steel sheets in the Asian region are falling. - more

    Global Ferronickel to sustain record shipments - Global Ferronickel Holdings Inc. expects to sustain its record shipments of nickel ore amid high global prices which has pushed its earnings to about $130 million last year. - more

    Sumitomo warns of further write-down on energy, iron ore assets - Japanese trading house Sumitomo Corp warned on Tuesday that it may take additional impairment losses on its energy and metal assets due to slumping oil and iron ore prices, although its annual profit forecast remained unchanged. - more

    Courtesy AISI - In the week ending January 31, 2015, domestic raw steel production was 1,782,000 net tons while the capability utilization rate was 75.4 percent. Production was 1,824,000 net tons in the week ending January 31, 2014, while the capability utilization then was 75.8 percent. The current week production represents a 2.3 percent decrease from the same period in the previous year. Production for the week ending January 31, 2015 is down 2.4 percent from the previous week ending January 24, 2015 when production was 1,825,000 net tons and the rate of capability utilization was 75.9 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, February 2

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $6.69/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.05/ll higher, with other London traded base metals trading mostly higher as well. Stockpiles of nickel stored in LME approved warehouses fell on Friday, and now total just under the 425,000 tonne level. In another case of bad news can be good news to the market, base metals traders initially reacted negatively to the Chinese PMI falling harder than expected (49.7), but since then they have convinced themselves that China will be forced to take stimulus measures, so now base metals are trading mostly higher. The average price of cash nickel fell sharply in January, and a week long Chinese holiday later this month, could keep potential increases in check this month.  
  • Average price of cash nickel so far this month - $6.70/lb (Jan)
  • 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Extends Gains as Shanghai Open Interest Rises to Record - more
  • Reuters metals morning - Copper up on Chinese stimulus hopes, capped by Greek worries - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 76.81
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MF) Baosteel Stainless cuts domestic stainless prices for Feb-Mar
  • (MEPS) The annual total global stainless steel production for 2014 is estimated to have reached an all-time high of 41 million tonnes. This exceeds the previous record mark, set in 2013, by 7.6 percent.
  • Scant relief seen for commodities from European monetary easing - more

    Sumitomo sees first nickel deficit in 5 years - Demand will exceed production by 12,000 metric tons, compared with a 36,000-ton surplus last year. - more

    Antam’s sales plunge - State-run diversified miner Aneka Tambang (Antam) wrapped up 2014 with sliding sales due to the government’s ore-exports ban and weak commodity prices, despite significant growth in the company’s ferronickel business. - more

    Russia's Norilsk Nickel Faces Battle to Protect Workforce From Rising Food Prices - Russia's financial crisis is posing a stark challenge to the country's largest mining company. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

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