This page is archived news covering the period of February 2016
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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Monday, February 29

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $3.86/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stocked in LME approved warehouses fell on Thursday and Friday of last week and now total just over the 441,912 tonne level. Asian markets ended lower overnight, European markets are mostly lower this morning and US futures are lower at the moment, with oil bouncing off earlier session lows. The possibility of Indonesia lifting its ore export ban, or even considering it again, is going to keep the market in check.
  • Average price of cash nickel so far this month - $3.77/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 slips from 3-month high, steady oil supports - more

  Reports

  • Damstahl Stainless Steel Report - February 2016 - pdf here
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Extend Losing Run as Stimulus Loses Edge; Yen Strengthens - more

    Indonesian lawmakers hope to revise mining law by September - Indonesian lawmakers hope to revise the country's resource rules by September in a move that could include easing of export curbs on minerals, such as nickel and copper, giving Freeport McMoRan Inc and other miners time and money to build smelters. - more

    Clive Palmer’s refinery to shut down because of lack of ore - A lack of ore feedstock will shut down production at Clive Palmer’s Yabulu nickel refinery from Monday, possibly for 11 days, administrators say. - more

    (Press Release) For the month of March 2016, North American Stainless will lower the fuel surcharge to 14% for stainless flat and long products. The surcharge rate is considered a maximum level for March and will be reviewed monthly. - more

    Ambatovy undertakes plant maintenance as tax spat drags on - Operations at Madagascar’s $8-billion Ambatovy nickel/copper mine continued on Friday, despite all shipments to and from the operation remaining marooned at an east-coast port as a tax dispute with the Malagasy government on new shipment levies dragged on. - more

    Botswana: BCL to Engage Belt Tightening Measures - BCL Mine managing director Mr Dan Mahupela has said that his organisation is due to introduce belt tightening measures to ensure its survival. - more

    Space mining race heats up, but whose asteroid is it anyway? Andy Home - Space mining, extracting resources from near-earth asteroids, is "not science fiction any more". - 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 25

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $3.93/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.05/lb lower, and once again, off earlier highs. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 443,000 tonne level. Asian markets ended lower overnight, but European markets are trading higher, with US futures moving higher as well. Nickel prices have recovered from their lows of two weeks past, but the overall trend remains stagnant. Our next update will be Monday so we hope each of you has a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $3.76/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 - London copper slips as China stocks sag; jitters resurface - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • EU to Drop Fastener Anti-Dumping Duties - more
  • China's Equities Plunge Most in a Month as Volatility Reignites - more
  • China to allocate 100 billion yuan for job losses from capacity cuts - more

     Negotiations on CR Austenitic Stainless Sheets in Asia after Holiday Calm - According to a source, negotiations on cold-rolled (CR) austenitic stainless steel sheets in the Asian region are in a state to be calm even after the Chinese New Year holiday. Inquiries were sent to the Japanese mills as well before the holiday possibly because customers considered bottoming out in prices. - more

    Vale's Sales Volumes of Mn Ore, Ferroalloy, Ni and Co in Full Year 2015 - On February 18, Vale S. A., a major resource company in Brazil announced its sales volumes of manganese ore, ferroalloys, nickel and cobalt in the full year 2015 (January - December) and in the period from October to December as shown in the table below. - more

    Western Areas optimistic on nickel price recovery - Western Areas managing director Dan Lougher says weak nickel prices, which pushed the miner into the red in the first half, could be set to improve as highly leveraged producers mull mine closures. - more

    South32 joins ranks of miners on prowl for buys - Australia's South32 Ltd, the world biggest producer of manganese, has joined the ranks of mining companies willing to make acquisitions amid a severe downturn that is leaving the sector with billions of dollars in losses. - more

    Police raid Brazilian steelmaker Gerdau in corruption case -source - Federal police raided several offices of Brazilian steelmaker Gerdau SA as part of an ongoing corruption case known as "Operation Zelotes," a source with knowledge of the raids said on 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)
  • 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 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $3.93/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.06/lb lower, with the recent increase in prices now in trouble. Stockpiles of nickel stocked in LME approved warehouses rose sharply on Tuesday, and thanks to a huge increase at Kaoshiung, Taiwan, now total just over the 445,250 tonne level. Asian markets ended mostly lower overnight, and European markets are lower today as oil slumps again. US futures are lower as well, and commodities appear to have joined in the sell off.
  • Average price of cash nickel so far this month - $3.75/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 shunned along with oil and shares; tin ticks higher - more

  Reports

  • Nickel Compounds the inside story - pdf here
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Global Stocks Extend Declines With Oil; Pound Slips Below $1.40 - more

    China's Import of High-Carbon Ferro-Chrome in December 240,000 Tons - According to the foreign trade statistics of China, the import volume of high-carbon ferro-chrome (material quantity) in December 2015 was 240,026 tons, grossly up by 65.5% from 145,010 tons in the prior month. - more

    BIR Stainless Steel World Mirror February 2016 - 'Significant' production cuts in the raw material sector will probably be required over the short and medium term if stability is to be restored to the markets, according to BIR stainless steel & special alloys committee chairman Joost Van Kleef.  - more

     BHP banks on nickel reversal - BHP Billiton’s Nickel West division plunged to a $US142 million underlying loss in the first half of the financial year, but BHP chief executive Andrew Mackenzie says he expects that to reverse in the current period. - more

  • BHP announces massive loss and ‘simplification’ - more

     Sherritt in talks with Madagascar govt to end tax dispute  - Diversified Canadian miner Sherritt International on Tuesday said it had no intention of changing the full-year guidance for its share of nickel production from the Ambatovy nickel/cobalt joint venture operation, in Madagascar, despite the possibility that a shipping tax dispute could halt production. - more

    Live by the mine, die by the mine: how does a nickel town survive FIFO and a mining downturn? - A combination of the prolonged reduction in demand for nickel, mining companies cutting staff, and a trend towards a fly-in fly-out workforce has left the Western Australia mining town of Kambalda a shadow of its former self. - 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 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $3.98/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.01/lb lower, but recovering from earlier session lows. Stockpiles of nickel stored in LME approved warehouses gave back nearly all they had gained on Friday and now total just under the 435,400 tonne level. Nickel is toying with the $4/lb level but facing a Euro that has turned negative recently and Asian and European equity markets in retreat. Short term trends remain positive.  
  • Average price of cash nickel so far this month - $3.74/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 slips from two-week top as demand jitters resurface - more

  Reports

  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Yen Advances With Gold on Haven Demand as Stocks, Oil Decline - more

    World Bank lowers nickel price projection, Terrafame sticks to optimistic forecast - The state-owned company Terrafame, which now owns and operates Talvivaara’s mining operations in Sotkamo, eastern Finland, says it’s sticking to optimistic price forecasts for its business and financial planning. - more

    Ni SUS Scrap Purchase Price in Last Half of February Dips Below JPY100,000 = All customers cut price due to cheap nickel at end of last week = The purchase price of nickel-containing stainless steel scrap (SABOT) by stainless steel mills in the Kanto in the latter half of February is down by JPY10,000 from the end of January, and many of stainless steel mills submitted the purchase price below JPY100,000 per ton (delivered at factory). - more

    January 2016 crude steel production - World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 128 million tonnes (Mt) in January 2016, a -7.1% decrease compared to January 2015. - more

    Courtesy AISI - In the week ending February 20, 2016, domestic raw steel production was 1,699,000 net tons while the capability utilization rate was 72.7 percent. Production was 1,705,000 net tons in the week ending February 20, 2015 while the capability utilization then was 72.4 percent. The current week production represents a -0.4 percent decrease from the same period in the previous year. Production for the week ending February 20, 2016 is down 0.2 percent from the previous week ending February 13, 2016 when production was 1,703,000 net tons and the rate of capability utilization was 72.8 percent.

    Palmer Aviation placed in liquidation - Clive Palmer's prized Bombardier luxury private jet will be sold after his company Palmer Aviation was placed into liquidation on Tuesday, but the resources owner turned federal MP said he will not be liable for any money owed. - 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 22

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $3.89/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and rose on Friday and star the week just over the 4356,750 tonne level. The Euro is getting beat up this morning, but commodities, as well as equity markets, are trading higher.
  • Average price of cash nickel so far this month - $3.73/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 - Zinc hits four-month high as concern grows of shortages - more

  Reports

  • PWC Metals deals: Forging Ahead 2016 outlook and 2015 review - more
  • TD Commodity Price Report - pdf here
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Pound Sinks on `Brexit' Risks as Global Shares Rally With Crude - more

    Ambatovy in danger of closing in less than a week, as Sherritt seeks to rejig project input - The shipment starved Ambatovy nickel/cobalt-producing joint venture (JV) in Madagascar might be forced to shutter operations in less than a week, after incoming and outgoing shipments have been stranded at an east-coast port since early this month, after government imposed a new shipment levy. - more

    Nickel Workers On Strike In New Caledonia - Dozens of employees of New Caledonia's SLN nickel company have gone on strike in protest at possible job cuts announced this week. - more

    Axiom to ship first nickel ore - Nickel developer Axiom Mining Limited expects to export its first shipment of nickel ore from its Isabel nickel project within the first quarter of this year. - more

    Queensland Nickel administrators win delay on environmental breach charge hearing - Legal proceedings against federal MP Clive Palmer's North Queensland nickel refinery have been delayed at the request of the company's administrators.- more

    The metals crunch is forcing miners to reconsider the merits of diversification - At the pinnacle of the mining industry sit two Anglo-Australian companies, BHP Billiton and Rio Tinto, which are to iron ore what Saudi Arabia is to oil: the ones who call the shots. - 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 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $3.82/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just over the 438,300 tonne level. Nickel's uptrend since Monday morning's big bounce remains in place, although today that positive trend is showing signs of stress. Our next update will be Monday, so we hope you each have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $3.72/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 - London copper slips as China growth fears offset oil bounce - more

  Reports

  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Greenland Lecture Series - more
  • Global Stock Rally Slows as Nestle Disappoints; Bonds, Yen Climb - more

    Eramet plans cut production costs at SLN nickel unit - French mining group Eramet said it planned deep cuts in production costs at its nickel unit SLN, saying a "very strong plan" was needed to stem losses that could otherwise threaten the group. - more

    Brazil's Vale says 4th-Qtr iron ore output 88.4 mln tonnes - Brazilian miner Vale SA said on Thursday it produced 88.4 million tonnes of iron ore in the fourth quarter, a new record for the company. - more

    Sherritt Madagascar unit says new tax rules prevent nickel shipments - The Madagascan unit of Sherritt International said on Thursday containers carrying nickel had been prevented from leaving the Indian Ocean island's Toamasina port for several days due to a new tax regulation it said did not apply to it. - more

    Colombian nickel, silver, platinum output drops in 2015, but gold rises - Colombia's output of nickel, silver, platinum and coal fell last year, while gold production rose, the government said. - more

    Shipments Decline Continues in January - Shipments declined from 2015 levels in January for both steel and aluminum in the United States and Canada at roughly the same rates as last month. - more

    Vale freezes hiring in Sudbury - Vale Ltd. has implemented a hiring freeze at its Sudbury operations as the company faces the challenge of nickel prices that dipped lower than $3.50 a pound this year. - more

    Ramu Mine National Workers and Mine's Management to Sign MOA - A conference between the Ramu Nickel Mine’s Management and the Mine’s National Workers Union Executives eventuated at the Madang Provincial Government office today, chaired by the Department of Industrial Relations Labor Representative, Philip Wori. - 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 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $3.79/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.01/lb higher, on a solid recovery from opening lows. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just under the 437,450 tonne level. Asian markets ended mostly lower overnight, while European markets are trading higher. US market futures are trading higher as well, looking for a third consecutive triple digit session gain.  
  • Average price of cash nickel so far this month - $3.72/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 - Lead sinks after jump in inventories, copper edges up - more

  Reports

  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Miners' Window Display Gathers Dust - more
  • (Reuters) Anglo American said on Tuesday it plans to sell its iron ore, coal and nickel units as part of a sweeping strategic overhaul to cope with a commodities rout that has triggered a fight for survival even among heavyweight miners.
  • Indonesia's 2017 Mineral Ore Export Ban to Be Reviewed - more
  • European Stocks Advance With Oil as Treasuries, Yen Erase Gains - more
  • U.S. Fastener Exports Flat, Imports Up for 2015 - more

    Nickel Leads Decline in Base Metals Amid China Credit Concerns - Nickel in London dropped from its highest level in almost two weeks as base metals retreated amid concerns that excessive credit growth is increasing risks in China, the biggest consumer of raw materials. Miners’ shares also fell. - more

    Over 500 lose jobs at Tati Nickel - The acrimonious relationship between Moolman Mining Botswana Limited and Botswana Mine Workers Union has hit an all time low as the former closes shop, resulting in more than 500 job losses. - more

    U.S. Import & Export of Ferroalloys in December 2015 - The statistics released by the U. S. Department of Commerce shows the import result of ferroalloys in the full year 2015 (January - December) and in December 2015 in Table 1 and the export result in Table 2 respectively. - more

    Clive Palmer said to be more active in broke refinery than he admitted - Clive Palmer is was confident his $250 million rescue package for Queensland Nickel will be accepted by creditors after claims he was more closely involved in the management of his Townsville refinery than publicly portrayed. - 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 16

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $3.75/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 438,400 tonne level. Asian markets ended higher on speculation China will take more measures to stimulate that economy. European markets are trading lower as an earlier rally in oil sputters and US futures show US traders want to play catch up to yesterday's big run up.  
  • Average price of cash nickel so far this month - $3.72/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 - London copper climbs as steadier Chinese markets soothe growth worries - more

  Reports

  • Commodity prices are doing fairly well under the circumstances - pdf here
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SSY) Daily crude steel output at China Iron and Steel Association (CISA) member mills dropped to its lowest level in over two years at 1.51 Mt in the last eleven days of January, according to data from the industry association reported by U-metal. This daily rate was down 11% on the year-ago level.
  • European Stocks Drop as Oil Pares Gain After Talks; Yen Rises - more
  • El Niño slowly weakening - more

    Oversupply, weak demand to continue to weigh on nickel price: BoA/Merrill - Oversupply and weak demand are likely to continue to weigh on the nickel price, Bank of America/Merrill Lynch said in a research note Monday. - more

    AK Steel To Increase Base Prices For All Of Stainless Steel Products - AK Steel said that it will increase base prices for all of its stainless steel products, effective with shipments on March 1, 2016. - more

    Indonesia to review rules banning metal concentrate exports from 2017 - Indonesia will review rules banning exports of partially processed metal ores, including copper and zinc, as the smelters they were intended to develop have not materialized amid low commodity prices, the country's mining minister said Tuesday. - more

    'Minor explosion' at Queensland Nickel - A "minor explosion" at Queensland Nickel's Yabulu refinery has forced the closure of one of the embattled facility's roasters. - more

  • Roaster stack incident at Queensland Nickel refinery - more

    Anglo American looks to cut debt through asset sales - Anglo American said on Tuesday it plans to sell its iron ore, coal and nickel units as part of a sweeping strategic overhaul to cope with a commodities rout that has triggered a fight for survival even among heavyweight miners. - more

    Courtesy AISI - In the week ending February 13, 2016, domestic raw steel production was 1,703,000 net tons while the capability utilization rate was 72.8 percent. Production was 1,705,000 net tons in the week ending February 13, 2015 while the capability utilization then was 72.4 percent. The current week production represents a -0.1 percent decrease from the same period in the previous year. Production for the week ending February 13, 2016 is up 1.1 percent from the previous week ending February 6, 2016 when production was 1,685,000 net tons and the rate of capability utilization was 71.9 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 15

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $3.52/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.18/lb higher. Stockpiles of nickel rose on Thursday and fell slightly on Friday and start the week just over the 439,100 tonne level. Last week was brutal for nickel, with a slight recovery coming near the end.  Asian markets ended higher overnight, and European markets are trading higher, US markets are closed for Presidents Day.
  • Average price of cash nickel so far this month - $3.72/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 - London copper, nickel surge as China reopens - more

  Reports

  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Malcolm Freeman at Kingdom Futures - “For the last few days there had been a build-up of activity in the nickel options market, with put options being bought with strikes down to $6,000 in December. As the new options were hedged, they pushed the market down and triggered selling against existing positions and the whole move became as self-fulfilling story.”
  • Reuters - Outokumpu said on Friday filed antidumping and countervailing duty petitions against Chinese importers together with other American stainless steel producers
  • Banks' Surge Takes Europe's Stock Rally Into 2nd Day; HSBC Rises - more

    North American Press Release - Effective with shipments March 1, 2016, North American Stainless will increase the prices for all Cold Rolled grades in 200 series, 300 series, and type 430. This will be achieved by reducing the discount two percentage points. Also, NAS will increase the base price of CMP and Discrete plate by $.03/lb. These detailed price changes will apply to US and Canada customers. - source

    Nickel Drops in Shanghai Catching Up With London After Break - Nickel dropped in China after a week-long Lunar New Year holiday, trading near its lowest since Shanghai started the contract in March 2015. Prices in London extended their advance from a 13-year low. - more

    Long list of safety issues at Queensland Nickel, court told - The administrator for Clive Palmer's failed Queensland Nickel said a number of "red flag" issues relating to environmental and occupational health and safety management at the ageing refinery could force its early closure.- more

    EU's anti-dumping duty impact on Tata Steel negligible: Religare - In a major development, European Union has announced slapping tariffs as high as 26.2 percent on Russian and Chinese non-stainless steel makers. - 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 11

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $3.60/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.07/lb lower, and has yet to find a bottom today. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 438,750 tonne level. Nickel appears to be caught up in an incredibly negative investor sentiment, with Asian and European equity markets trading much lower, and US futures in the red as well. Nickel closed below the $8000/tonne level for the first time in over a decade yesterday. It looks to be another brutal day for the longs. This is our last update for the week, so have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $3.77/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 recovers after Fed statement undercuts dollar - more
  • Bloomberg metals morning - Rio Leads Miners Lower After Slashing Dividend; Nickel Falls - more

  Reports

  • Reimagining metals operations - pdf here
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Rio Tinto ditches boom time payout policy as profit plunges - more
  • Glencore steps up debt-reduction plan, reports drop in copper output - more
  • Stock Rout Deepens, Bonds Surge as Faith in Central Banks Fails - more

    Finland's Outokumpu plans cost cuts to stem losses - Outokumpu, the Europe's largest stainless steel maker, on Thursday posted an underlying loss from the fourth quarter and forecast more losses in the first quarter, adding it aims to improve profitability with new cost cuts. - more

    Production Cuts by BHP Billiton and Glencore Could Spur Nickel Prices - Both nickel miners are expected to announce production cuts in coming weeks, Bidness Etc highlights chances of a consequent hike in nickel prices - more

    Nickel’s price woes blamed on Chinese collateral holders - Chinese “shadow bankers” may have been scared away from using copper (and presumably other metals) as collateral after abuses of the practice were exposed in 2014, but the same tactics may again be in use, this time with primary nickel as the metal being held in deep inventory. - more

    Production Plan for Special Steel Products in Jan-Mar 4.751 Mil. Tons = Up from prior period, but continues to be down from year-earlier period = On February 3, the 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 2016. - more

    ASIC unravels Queensland Nickel collapse - The corporate watchdog has a shopping list of reviews as it tries to unravel the collapse of Clive Palmer's Queensland Nickel. - more

  • ASIC says Clive Palmer could face criminal charges - more

    Six Members Resign From London Metal Exchange - Six companies, including the world's second-biggest iron ore exporter, have all given up their membership of the London Metal Exchange, the metals bourse said Friday. - 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 10

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $3.66/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb higher. Stockpile numbers went unchanged on Tuesday and remain just over the 430,050 tonne level. We typically use two sources for daily inventory changes and one of them is not reporting this week due to the Chinese New Year holiday. Nickel has fallen to or below the $8000/tonne level twice so far this session, and trading is choppy in a narrow band.
  • Average price of cash nickel so far this month - $3.79/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 - London copper slips amid China holiday, global growth woes - more

  Reports

  • Market excesses will take time to work off - more
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Banks Lead European Stock Gains as Credit Risk Eases, Oil Rises - more

    As pressure on BHP and Glencore grows, Australia cuts may signal nickel revival - Australian nickel miners are under increasing pressure to suspend or cut production, with investors eyeing key announcements in coming weeks after rival producers in New Caledonia won a pledge of support from France. - more

    Downstream steel industry disappointed over MIP on steel products; reaches out to PM - The Government's decision to impose minimum import price (MIP) on 173 steel products has been strongly criticized by the downstream steel industry. The industry has alleged that the move has been taken for the interest of the larger steel players. - 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 9

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $3.71/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and now total just over the 439,050 tonne level. Nickel recently surrendered earlier session gains, after recovering from a near 13 year low yesterday. Asian markets that were open closed lower, European markets are trading lower this morning and US market futures are lower at the moment. All evidence points to another potential bearish day.
  • Average price of cash nickel so far this month - $3.81/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 steady amid risk-off sentiment; trade quiet on China holiday - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • New Caledonia: Slow progress on defining its future - more
  • Stocks Stabilize as Deutsche Bank Rises; Yen, Bonds Pare Gains - more

     Nickel rebounds from lowest in over 12 years, tin surges - Nickel bounced on Monday after touching its lowest in more than 12 years and most other industrial metals also climbed on a weaker dollar and a decline in selling from China.- more

  • Nickel price crushed by weight of ghost stocks - more

    Copper, coal, nickel and iron ore expected to continue wild ride after volatile January - The prices for key mineral and energy commodities fluctuated in January after drops in coal, iron ore and oil, according to ANZ research.- more

    Ramu NiCo board meets to set objectives, tasks - The board, management and staff of Ramu NiCo Management Ltd last Friday met to set out objectives and tasks for 2016. - more

    Clive Palmer's Queensland Nickel in red until 2017 - Clive Palmer's Queensland Nickel will be bleeding cash for the next 12 months until the price of nickel recovers in 2017, large creditors have been told. - more 

    Will Anglo American Plc Spin-off Iron, Coal, and Nickel Businesses? - Anglo American plc is recently facing extreme liquidity issues. - more

    Church groups condemn arrest of anti-mining protesters - Church groups and environmental activists in the Philippines condemned the violent dispersal and arrest of several people who were trying to stop mining operations in the northern province of Zambales in the past three weeks. - more

    Courtesy AISI - In the week ending February 6, 2016, domestic raw steel production was 1,685,000 net tons while the capability utilization rate was 71.9 percent. Production was 1,705,000 net tons in the week ending February 6, 2015 while the capability utilization then was 72.4 percent. The current week production represents a 1.2 percent decrease from the same period in the previous year. Production for the week ending February 6, 2016 is up 1.7 percent from the previous week ending January 30, 2016 when production was 1,657,000 net tons and the rate of capability utilization was 70.7 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 8

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $3.68/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and now total just under the 439,150 tonne level. Nickel traded under $3.60/lb earlier this morning - the lowest nickel has traded in nearly 13 years. Antaike is reporting nickel bearing stainless steel production continues to fall in China. European stocks are trading at a 15 month low, and futures are signalling a potentially brutal day is in store for US traders. China is closed for business this week as that country celebrates their weeklong New Years festival. And after lifting a decades old ban on exporting oil, US exported its first shipment of oil - to Venezuela. Believe it or not.
  • Average price of cash nickel so far this month - $3.84/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 - London copper drops after US jobs report boosts dollar - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Sudbury worker loses battle over shaving  - more
  • European Stocks Fall, Credit Weakens as Signs of Distress Abound - more

    Import of Stainless Steel Scrap in December 2015 - According to the import statistics prepared by the Ministry of Finance, the import volume of stainless steel scrap in December 2015 was 7,247 tons, down by 17.3% from the prior month. The import by country is as shown in Table 1 and the same by discharge port in Table 2 respectively. - more

    France guarantees New Caledonia nickel industry - The French government has agreed to help New Caledonia's nickel sector which has been hit by a sharp drop in the price of nickel. - more

    Cops arrest 2 in mining stand-off in Zambales - Police arrested Sunday at least two residents of Barangay Bayto in Sta. Cruz town as more than 200 residents, defying the presence of uniformed policemen, continued their barricade to prevent hauling trucks of a mining company from transporting nickel ore to the port. - more

    Reef authority watching QLD Nickel closely - The Great Barrier Reef Marine Park Authority is watching Queensland Nickel "very closely" after Clive Palmer's besieged company was placed in administration. - 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 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $3.87/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just shy of the 442,200 tonne level. Commodities are trading higher on a stronger Euro as currency traders begin to bet the US Fed will not raise interest rates again anytime soon. In our opinion, that is a pretty safe bet. China markets are closed next week for their week long Lunar New Year festivities. And our next update will be Monday so we wish each of you a relaxing and safe weekend.
  • Average price of cash nickel so far this month - $3.83/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 hits 1-month high as dollar drop spurs short covering - more

  Reports

  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Global Stocks Rise as Commodities Extend Gains on Dollar Retreat - more
  • Unprecedented downturn offers little hope - more

    Fed govt should help Qld Nickel: Premier - Premier Annastacia Palaszczuk says the federal government hasn't been doing enough to help the 237 workers sacked from Clive Palmer's Queensland Nickel or affected communities in the state's north. - more

  • Clive defends Qld Nickel’s record in letter to Turnbull - more

    Signs point to uncertain future for PolyMet’s plans - The announcement late last Wednesday that Glencore had agreed to loan PolyMet another $11 million to pay for an update to its definitive feasibility study, was greeted by some as a piece of good news— that suggests the giant Swiss-based commodities broker still sees potential in the company’s NorthMet copper-nickel mine despite the recent collapse in metals prices. - more

    Market Trend of Import of Ferroalloy as of 29 January 2016 = Prices of several items go up due to securement of spot goods before Chinese New Year = The market trend of import of ferroalloy as of 29 January 2016 is as follows. - more

    Tips for avoiding allergic ?reactions to nickel - The American Academy of Dermatology (AAD) has posted a new video on ways to avoid and reduce symptoms of an allergic reaction to nickel to its website and YouTube channel as part of its “Video of the Month” series. - 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 3

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $3.81/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just under the 443,600 tonne level. MEPS estimates stainless steel was lower in 2015 than the all time record high reached in 2014, but expects the market to rebound this year and set a new record. In our opinion, this is an overly ambitious prediction. The slowdown last year saw drops in all producing countries, save South Korea. This is not a regional slowdown, but a worldwide one, and forecasting a quick recovery, is a reach.
  • Average price of cash nickel so far this month - $3.84/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 climbs on improving China data, short-covering - more

  Reports

  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • European Stocks Fall on Earnings With Oil Near $30; Ruble Gains - more

    New Record Global Stainless Steel Output Forecast For 2016 - Annual global stainless steel production for 2015 is estimated to have totalled just below 41.5 million tonnes. - more

    Queensland Nickel: Global investors may save refinery, says Curtis Pitt - International investors may be one answer to Queensland Nickel's current woes, Treasurer Curtis Pitt said, as Clive Palmer flagged another 10 per cent of the refinery's workforce may lose their jobs. - more

    Sudbury letter: Inco sale bad for Sudbury - Dear Prime Minister Justin Trudeau: I'm writing from Sudbury. Your attention would be greatly appreciated here in the North. As you know, our previous federal government allowed the takeover of Inco Ltd. by the Brazilian company Vale. - more

     Axiom Mining nears Q1 nickel shipments and $10M funding deal  - Axiom Mining is edging closer to a milestone first shipment of nickel ore form the Isabel project in the Solomon Islands during Q1 2016 as a A$10 million financing facility and long-term offtake deal unfold. - more

    Nickel industry downturn pushes Kambalda footy club to the brink - As the global nickel industry slows on the back of weakening demand from Chinese steel firms, half a world away a tiny West Australian football club is facing a bleak future. - 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 2

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $3.85/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 444,100 tonne level. Nickel continues to trade rangebound, while equity markets around the world are lower, except for Shanghai, which ended higher after Chinese authorities poured more money into that financial system. Commodities are trading quietly for the most part, with oil leading the declines.
  • Average price of cash nickel so far this month - $3.83/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 hits 4-week high on short-covering ahead of Lunar New Year - more

  Reports

  • American Recycler News Jan 2016 - pdf here
  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Oil, China & El Nino Delay Recovery - more
  • Further easing of El Niño - more

     Sacked Queensland Nickel workers worried they may be forced to seek work outside Townsville - Workers sacked from Federal MP Clive Palmer's Queensland Nickel fear they may have to leave Townsville to support their families. - more

     Courtesy AISI - In the week ending January 30, 2016, domestic raw steel production was 1,657,000 net tons while the capability utilization rate was 70.7 percent. Production was 1,807,000 net tons in the week ending January 30, 2015 while the capability utilization then was 76.4 percent. The current week production represents a 8.3 percent decrease from the same period in the previous year. Production for the week ending January 30, 2016 is down 0.8 percent from the previous week ending January 23, 2016 when production was 1,670,000 net tons and the rate of capability utilization was 69.8 percent.

     What If Beauty Lasted For Centuries - Choose Stainless - 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 1

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $3.90/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on both Thursday and Friday last week, and start this week just over the 446,650 tonne level. Stockpiles are starting February around 21,700 tonnes over last February. NIckel opened higher this morning but has trended lower since. China's manufacturing PMI ended lower in January and with oil trading lower, commodities are struggling today.
  • Average price of cash nickel so far this month - n/a
  • 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 slides, spooked by weak China manufacturing data - more

  Reports

  • Reuters Metals Insider - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Russia's Norilsk Nickel Q4 nickel production up 16 pct q/q - more
  • Nickel mine closure causing pain for Kimberley port - more
  • Commodities Drop Weighs on Stocks, Currencies After China Data - more

    The metals price collapse stops here, say (most) analysts: Andy Home - When will base metal prices stop falling? - more

    BHP's Nickel West "feeling the pressure" of weak nickel price - The falling nickel price is heaping pressure on BHP Billiton's Nickel West business, which will increase imports of concentrate to sustain its operations after a string of local mine closures. - more

    New Caledonia's Koniambo holds on to Glencore support -  The Swiss-based mining conglomerate Glencore says it is committed to investing in New Caledonia in 2016 despite massive losses last year because of the slump in the price of nickel. - more

    Ni SUS Scrap Purchase Price in Last Half of January Below JPY110,000 = Down by JPY5,000 due to weak Ni price, and price is same in both Kansai and Chubu = The purchase price of nickel-containing stainless steel scrap (SABOT) by stainless steel mills in the Kanto in the latter half of January is below JPY110,000 per ton (delivered at factory), down by JPY5,000 from the former half of January. (Hereinafter, the price is per ton) - more

    China's 2015 ferromoly exports fall 49% on year to 793 mt despite tax removal - China's ferromolybdenum exports fell 49.1% year on year to 793 mt in 2015 despite the removal of the 20% export tax since May 1 last year, data released by the General Administration of Customs Wednesday showed. - more

    Glenn Lazarus troubled by Queensland Nickel woes after large donations to Palmer United Party - Independent senator Glenn Lazarus says the issues engulfing Clive Palmer's Queensland Nickel refinery have made him feel "like shit". - more

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