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page is archived news covering the period of February 2016
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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
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)
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
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)
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
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)
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
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)
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
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)
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
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)
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
(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)
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
(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
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)
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
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)
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
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)
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
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)
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
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)
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
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)
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
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)
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
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)
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
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)
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
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
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
Reports
Commodity/Economic Comments
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. -
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. -
(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. -
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. -
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. -
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". -
Morning Nickel
Price Statistics & Figures
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.05/lb
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. -
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. -
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. -
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.01/lb
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
