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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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Tuesday, February 28

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $5.01/lb. Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 377,450 tonne level. Nickel closed just over the $5/lb level yesterday, but once again is having problems holding on to it. Secretary of Environment and Natural Resources Gina Lopez had her first confirmation hearing cancelled after it became apparent her confirmation might be in trouble with the current committee. Nickel miners working for Glencore in Sudbury agreed to a contract yesterday. Earlier this month Xstrata miners in Sudbury agreed to a new contract, and the Vale miners contract doesn't expire until 2020.  
  • Average price of cash nickel so far this month - $4.81/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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, attention shifts to Trump speech - more

  Reports

  • Reuters Daily Inside Metals - 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
  • China Said to Probe Speculation in Commodity Futures Rally - more
  • We need to talk about the London Metal Exchange: Andy Home - more
  • El Niño WATCH: likelihood of El Niño in 2017 increases - more
  • Stocks Steady as Traders Await Trump, Dollar Slips: Markets Wrap - more

    China's Feb stainless steel output regains momentum after Lunar New Year - China's stainless steel production has regained momentum in February after Lunar New Year holidays trimmed output in January, Yujing Liu, analyst at Chinese consultancy Antaike, said Tuesday. - more

     Glencore, Steelworkers in Sudbury, reach deal - Glencore and its office, clerical and technical employees have reached a tentative agreement. - more

     Tata Steel starts production at ferro-chrome plant in Odisha - Tata Steel’s first greenfield ferro-chrome plant in India at Gopalpur Industrial Park in Ganjam district of Odisha has started production. - more

     New Caledonia urges nickel workers to help keep SLN open - The New Caledonian government is urging unions representing workers at the country’s largest nickel mining firm to accept reduced working hours in order to stave off job losses. - more

     Why miners are not ready for Gina Lopez - Mining industry players did not invest enough in building goodwill. And this explains why they were not prepared for someone like Gina Lopez. - more

  • Lopez fears conflict of interest to derail her CA confirmation - more
  • Lopez urges CA: 'Make decisions based on common good' - more

     Courtesy AISI - In the week ending on February 25, 2017, domestic raw steel production was 1,770,000 net tons while the capability utilization rate was 74.7 percent. Production was 1,709,000 net tons in the week ending February 25, 2016 while the capability utilization then was 73.1 percent. The current week production represents a 3.6 percent increase from the same period in the previous year. Production for the week ending February 25, 2017 is up 0.2 percent from the previous week ending February 18, 2017 when production was 1,766,000 net tons and the rate of capability utilization was 74.6 percent. - source

     GOP lawmakers try to revive Pebble mine project under Trump EPA - Some GOP lawmakers and mining companies are banking on the EPA's new head, Scott Pruitt reversing an earlier veto by the agency of a controversial mine project in Alaska's Bristol Bay, despite local opposition and the threat to sockeye salmon fisheries. - 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 27

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $4.93/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and now total just over the 378,600 tonne level. Unless LME warehouses receive some huge shipments of nickel into their warehouses, we will see the first monthly drop in stockpiles since last September. Nickel fell hard until mid day Friday, when it started to recover. It's up again today and we put resistance around $5/lb, where it had a problem at last week. Technical indicators are positive and traders are responding. Some of last weeks drop can be blamed on the US Dollar strengthening, some was due to the market momentum feeding on itself and profit taking.
  • Average price of cash nickel so far this month - $4.80/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 steadies ahead of Trump speech - more

  Reports

  • U.S. Imports by HTS - more ) (all steel products - more)
  • Reuters Daily Inside Metals - 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 expands North Korea sanctions - more
  • Politics Reigns as French Bonds Gain, Pound Slips: Markets Wrap - more

     China's nickel imports mirror shifts in supply chain: Andy Home - Is the Philippines' draconian mining clampdown already affecting the flow of nickel ore to China's nickel pig iron (NPI) producers? - more

     Eramet revives Indonesia nickel project with Tsingshan partnership - France's Eramet announced a preliminary agreement with Chinese steelmaker Tsingshan Group to revive a nickel mining project in Indonesia that Eramet had frozen during a downturn in nickel markets. - more

     Vale’s profits plunge amid low nickel price - Publicly listed nickel mine operator PT Vale Indonesia (INCO) saw its profits plunge 96.2 percent year-on-year to only US$1.9 million in 2016, due to a 22 percent drop in the global nickel price throughout the year. - more

  • Vale CEO Ferreira to step down after term expires in May - more

     Nickel Ore – Philippines tightens supply / Indonesia relaxes ban - The club understands that in a bid to clamp down on environmental degradation, the Philippines Department of Environment and Natural Resources (DENR) has ordered to close 23 of the country’s 41 nickel ore mines, amounting to almost 50% of the Philippines’ nickel ore production (10% of global supply). - more

  • Philippines Plans To Shut 23 Mines Because Of Environmental Concerns - audio here

     ROSS NORMAN - A Response to The LME Issue - Visualize the scene - a man in the open seas and struggling. His fate is inevitable and the only uncertainty is whether he dies by drowning or is taken out by the increasing number of sharks that are circling. - more

     Congress is shrinking, it isn’t in national interest, says Steel minister Chaudhary Birender Singh - ‘National parties must be visible prominently. Cong is shrinking, it isn’t in national interest’ - more

     Mining minister seen as hindrance to Solomons exploration - A Solomon Islands mining professional says more government support is needed to unlock the country's significant mining potential. - more

     Nice chart showing UAE stainless steel prices since 2003 - uncheck "reinforcing Bars" and check "Stainless HR Coils" - more

     Meet Evgenia Bednova, the woman paid $1 million by Clive Palmer’s Queensland Nickel - The first most Australians would have heard of Evgenia Bednova was when her name was mentioned in the Federal Court as someone who was paid a staggering $1 million by Queensland Nickel. - 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 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.90/lb . Indicators at 8:00 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses fell strongly on Wednesday and now total just over the 381,700 tonne level. The $5/lb level appears to have proved to be too much of a psychological barrier to maintain and nickel continues to fall since closing above it for two days. Technicals have turned negative and traders are responding in kind. Sorry for the late update - we had a computer that did not want to cooperate today but a system restore brought us back online. Have a great weekend!
  • Average price of cash nickel so far this month - $4.80/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 as Chinese demand worries resurface - more

  Reports

  • Reuters Daily Inside Metals - 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
  • Impressionism: In the shadow of the Superstack - more
  • London Metal Exchange cuts deal with banks to propel gold futures - more
  • Investors Weighing Earnings, Fed Hit Pause Button: Markets Wrap - more

     Nickel demand exceeded supply by around 100,000 mt in 2016: Glencore - Global nickel consumption exceeded supply by around 100,000 mt in 2016, Glencore said Thursday in its preliminary annual results statement. - more

     Nickel: Legal action in the Philippines fails to reassure the market - Roskill view: Nickel prices continued their rapid rebound after a drop in prices in December and January, when prices briefly fell to US$9,430/t. - more

     South32's Forecast about Mn and Ni Production in FY2017 = Production of both Mn ore and Ni in latter half is expected to be up = South32 Limited announced its settlement of accounts in the former half of FY2017 (from July 1 to December 31 in 2016) and forecast the production in FY2018 (from 1 July 2017 to 30 June 2018). - more

     Minor Bulk Trade: Indonesia Back In The Game? - Seaborne minor bulk trade is estimated to have remained steady at best in 2016, making it the third consecutive uninspiring year of minor bulk trade growth following the introduction of Indonesia’s refined mineral export ban in January 2014. - more

     Man killed and nickel worth R1 million stolen in Wadeville heist - A gang of about 15 men murdered an elderly man and made off with nickel worth more than R1 million in a robbery at the Lauds Foundry Equipment premises in Wadeville‚ Ekurhuleni‚ on Wednesday morning‚ police said. - more

     Kambalda faces future with no nickel output - Kambalda has run on nickel dust since it kicked off the base metal’s Australian boom in the 1960s. - more

     Clive Mensink too stressed, anxious for Queensland Nickel court hearing, court told - Former Queensland Nickel director Clive Mensink has been diagnosed with clinical depression and anxiety and returning to Australia to face a public court examination would prove difficult, a Brisbane court has been told. - 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 22

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.94/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total approximately 384,000 tonnes. Nickel looked like it had beat the $5/lb level, closing above it for 2 days, typically seen as a technical buy signal. But profit takers drove nickel back below that level yesterday, and are continuing the slide today. The International Study Group reported a surplus in nickel production in December, which also may have sent a chill thru the market. Something to keep in mind that we aren't hearing much about. One of the hottest metals around right now is cobalt. Cobalt prices have surged 50% since last fall, and speculators are buying up stock in anticipation of possible shortages. Cobalt is primarily a by product of copper and nickel mining. Thus established nickel miners with higher cobalt content, may be motivated to produce more nickel for the potential cobalt sale. That's purely a speculative observation on our part, but as we go forward into 2017, we may hear more on it.  
  • Average price of cash nickel so far this month - $4.80/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 bets cut ahead of Fed minutes, but supply doubts linger - more

  Reports

  • Reuters Daily Inside Metals - 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
  • (Reuters) The worldwide nickel market registered a deficit of 49,700 tonnes [in 2016] which compared with a surplus of 91,400 tonnes in 2015, industry data showed.
  • (AK Steel) AK Steel said today that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $30 per ton, effective immediately with new orders.
  • Euro Slips, Bonds Gain as Investors Turn Cautious: Markets Wrap - more

       Global nickel market swung into surplus in December -INSG - The worldwide nickel market moved to a surplus of 9,700 tonnes in December from a deficit of 1,700 tonnes the previous month, the International Nickel Study Group said on Tuesday. - more

     Nickel West delivers huge turnaround - The remarkable turnaround at BHP Billiton’s Nickel West operations continued in the first half of the financial year, with the company’s WA nickel operations delivering $US37 million in underlying earnings in the December half. - more

     Market Trend of Import of Ferroalloy as of 15 February 2017 = Drop in price of manganese ore has impact at every place - The market trend of import of ferroalloy as of 15 February 2017 is as follows. - more

    Mixed reaction to Philippine mine closures - His brother kept telling him that the mine would reopen and he would be hired again, but when Winston Ordonez didn't get a call from a mining firm, he took a laptop charger cable, tied it around his neck and hanged himself in his kitchen. - more

  • Responsible mining in PHL - more

     Power struggle: Australian smelters grapple with electricity uncertainty - Fed up with unpredictable and often exorbitant electricity prices, Sun Metals CEO Yun Birm Choi plans to invest A$183 million ($140 million) to build a massive solar farm to power his zinc refinery in the Australian outback. - more

     Could using stainless steel save SA millions in water losses? - With South Africa experiencing stage two and three water restrictions following its worst drought in decades, the spotlight falls on how to reduce leakages and maintenance costs and preserve our already strained water resources into the long-term future. - more

     Call for Clive Palmer’s nephew Clive Mensink to be arrested over Queensland Nickel case - The special purpose liquidator trying to claw back tens of millions owed to the Federal Government by Clive Palmer’s Queensland Nickel will apply for an arrest warrant for Mr Palmer’s nephew and former QNI director Clive Mensink. - 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 21

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $5.06/lb . Indicators at 5:30 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses rose for a second consecutive day and now total 384,900 tonnes. In two days, nickel stockpiles have risen by over 5,400 tonnes and are now nearly 2,300 tonnes ahead of the start of the month. We put next major resistance around $5.30/lb for nickel, giving it some room to run. This will be some major resistance however, as it is set at the highest nickel has traded at in over two years - seen in November of last year. A stronger US Dollar has put the brakes on nickel's momentum this morning, but for the most of February, a stronger Dollar has done little to hamper nickel's bullish run.
  • Average price of cash nickel so far this month - $4.78/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 on dollar, supply threats underpin - more

  Reports

  • Reuters Daily Inside Metals - 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
  • Dollar Rises as Gain in Mining Stocks Offsets HSBC: Markets Wrap - more

     Copper, zinc, nickel up on supply concerns - The price of copper has bounced back above $US6,000 a tonne as a dispute affecting production at the world's second-biggest copper mine worsened, while zinc was boosted by a drop in inventories. - more

     Sherritt mulling Ambatovy retreat to pop debt balloon - Sherritt's dream of lifting Madagascar out of poverty and making a handsome packet for itself on the proceeds from a huge nickel mine appear to be in jeopardy. - more

     Ravensthorpe nickel has a future, says First Quantum - The owner of Ravensthorpe’s biggest mine has given its strongest indication yet it has no plans to shutter the 25,000-tonne-a-year nickel laterite operations which employ 270 people on WA’s south coast. - more

     Mining row hurting supply chain - The Philippine Exporters Confederation Inc. (Philexport) said the controversy in the mining industry has hurt the supply chain, leaving the foreign market worried that local exporters might not be able to fill their orders. - more

     Anglo American recovery fuelled by rising commodity prices - Mining giant Anglo American has swung to a full-year profit after it was boosted by recovering commodity prices and a cost-cutting drive. - more

     Independence Group downgrades Nova production guidance - Independence Group's new Nova nickel mine will likely fail to produce at its full capacity this financial year after work at the project slowed because mining contractor Barminco had difficulty recruiting workers. - more

     Courtesy AISI - In the week ending on February 18, 2017, domestic raw steel production was 1,766,000 net tons while the capability utilization rate was 74.6 percent. Production was 1,709,000 net tons in the week ending February 18, 2016 while the capability utilization then was 73.1 percent. The current week production represents a 3.3 percent increase from the same period in the previous year. Production for the week ending February 18, 2017 is up 1.6 percent from the previous week ending February 11, 2017 when production was 1,738,000 net tons and the rate of capability utilization was 73.4 percent. - source

     Palmer's nephew 'too sick for court' - Clive Palmer's globe trotting nephew claims he's too sick to return home to face questions about Queensland Nickel's collapse, with lawyers now considering whether to seek a warrant for his arrest. - more

     New Caledonia village warned about nickel in tap water - Excessive levels of nickel in the water in the New Caledonian village of Kuto have prompted the authorities to urge people to stop drinking tap water. - 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 20

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $5.01/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.01/lb higher. Just when we wrote that we thought February could see the first decline in monthly stockpiles, LME warehouses saw a huge increase on Friday and start the week just under the 383,800 tonne level. Nickle closed above the psychologically important $5/lb both Thursday and Friday so most technical signals remain positive, although it remains overbought. US markets are closed for the Presidents Day holiday.
  • Average price of cash nickel so far this month - $4.76/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 and zinc rebound on supply concerns - more

  Reports

  • Reuters Daily Inside Metals - 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
  • China steel mills caught on the hop by North Korea coal ban - more
  • Europe Stocks Shrug Off Unilever as Pound Rallies: Markets Wrap - more

     China's stainless steel mills stop offering as nickel prices up - Stimulated by the strong nickel price rebounded recently, China's stainless steel mills decided to stop offering this week. - more

     Philippines' Duterte says will review minister's decision to close mines - Philippine President Rodrigo Duterte said he will review his minister's order to close more than half the country's mines for environmental violations, following an outcry from affected producers. - more

     South32 : Open to Offers for Colombian Nickel Mine - Mining company South32 Ltd. was born out of BHP Billiton Ltd.'s desire to rid itself of assets ranging from alumina refineries to manganese mines. Soon, South32 may consider doing some housekeeping of its own. - more

     PHL could lose position as top source of nickel; Indonesia resumes exports - The Philippines could lose its standing as the world’s top nickel supplier with Indonesia lifting its export ban on the metal, and after the Environment department ordered closures and canceled concessions which affected 28 mines, accounting for half of the country’s total nickel output. - more

     China Sees Smaller Declines in Nickel Ore Inventories, SMM Reports, with Price to Advance - Nickel ore inventories at seven major Chinese ports dropped slightly in the week ending February 17 after a sharp decline during the first trading week after the holiday, Shanghai Metals Market reported. - more

     Philippine miner ordered shut says to ship nickel ore in March - Philippine miner Marcventures Mining and Development Corp, whose nickel mine was one of 23 ordered to close by the environment ministry, said on Friday it will take legal action to overturn the ruling and plans to ship out ore next month. - more

  • Philippine Miner Defies Minister's Shutdown Order - more
  • Biz group says mine closure will lead to jobs loss - more
  • Global Ferronickel bags another supply contract from HK company - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Thursday, February 16

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.95/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses slipped for a third consecutive session and now total 380,100 tonnes. The decline in stockpiles this week is the biggest drop we have seen in some time. LME nickel stockpile numbers have actually grown over the last 4 months, but with half the month behind us, February numbers are on pace to finish in the other direction. Stainless prices are following nickel prices higher and we have posted an article below in case you need to send your customer something as proof it's not your fault.  The Clive Palmer soap opera continues in Australia. You may wonder why we continue to link to this story, but for an American, it is fascinating. You see in America, if you are rich, you can nearly destroy the economy, put millions of people out of work, and force millions more out of their homes - but as long as your company will pay the government a fine for getting caught, no one goes to jail. So this whole situation with Mr Palmer is not something you would likely see take place in the US. So please forgive us for our curiosity. This is our final update for the week so we wish each of you a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $4.73/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 - Supply troubles help nickel to two-month highs - more

  Reports

  • Reuters Daily Inside Metals -
  • 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
  • Equity Rally Falters as Traders Turn to Havens: Markets Wrap - more

     Stainless steel market stirs back to life - Prices of stainless steel are on an uptrend, with producers and distributors breathing a sigh of relief after a prolonged slump. - more

     LME's Chamberlain favorite to take wheel of metals juggernaut - Acting head Matt Chamberlain is fast emerging as the frontrunner to permanently take the reins at the London Metal Exchange, with industry insiders saying he has the skills, experience and knowledge to resolve a conflict with members and grow volumes. - more

     China's Production of SUS Crude Steel in 2016 Is 24.9378 Mil. Tons = Up by 16% from prior year, and production of all steel types is up = Stainless Steel Council of China Special Steel Enterprises Association announces China's production of stainless crude steel in the full year 2016 (January - December) was 24.9378 million tons, up by 15.7% from 21.5622 million tons in the prior year. - more

     Philippines’ Duterte says cancellation of mining contracts based on law - Philippine President Rodrigo Duterte on Wednesday supported his environment minister's decision to cancel nearly a third of contracts for undeveloped mines, saying it was based on law. - more

     First Quantum says restores access to Ravensthorpe nickel mine - Access to the Ravensthorpe nickel mining complex in Australia has been re-established following heavy rains last weekend that flooded local roadways, owner First Quantum Minerals said on Thursday. - more

     Exports of Steel and Nickel scrap by the US ended 2016 on a high note - The latest trade data published by the US Census Bureau and International Trade Commission (ITC) suggests modest rise in steel scrap exports by the country during the final month of 2016. - more

     SAIL’s Salem plant supplies steel to ISRO’s 104 satellites - The steel authority of India limited (SAIL), a Maharatna enterprise, has added another feather to its cap by supplying steel to Indian space research organisation (ISRO) for the launch of a record 104 satellites in a single rocket on February, 15. - more

     Clive Palmer defends conversation with nephew Clive Mensink during Queensland Nickel case - Clive Palmer has told the Federal Court in Brisbane it is unfair to blame him for the collapse of Queensland Nickel, as he is questioned for a second day. - more

  • Palmer riled by questions over woman - 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 15

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.89/lb . Indicators at 6:30 am CST today show 3 month nickel trading around .01/lb .higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 380,600 tonne level. Cancelled warrants are falling again, and back solidly under the 30% level. Nickel is testing resistance, with the psychological barrier of $5/lb looming. The Chinese steel index fell again in February. Market news is light today.
  • Average price of cash nickel so far this month - $4.72/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 steadies above $6,000 as supply worries persist - 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
  • Yellen Fuels Bank Stocks as Traders Eye Inflation: Markets Wrap - more

     S&P Global Platts China Steel Sentiment Index Softens in February - Chinese steel market sentiment softened further in February as the market returned from the Lunar New Year holiday period, with the outlook for domestic steel orders deteriorating since last month, according to the latest S&P Global Platts China Steel Sentiment Index (CSSI), which showed a headline reading of 25.21 out of a possible 100 points. - more

     What’s Impact from Indonesia New Export Policy? SMM Reports - Indonesia’s Finance Ministry said this Monday to levy 7.5 percent export taxes on lead, zinc, iron and copper concentrate, and 10 percent duties will be imposed on nickel ore with Ni content less than 1.7 percent and on bauxite with aluminum oxide content of at least 42 percent. - more

     Japan’s stainless steel scrap imports record 12% jump in 2016 - According to latest statistics released by the Japanese Ministry of Finance (MoF), the country’s stainless steel scrap imports have registered significant increase during 2016. - more

     Suicide, lost jobs after Philippine mine closures, but some relieved - His brother kept telling him that the mine would reopen and he would be hired again: but when Winston Ordonez didn't get a call from a mining firm, he took a laptop charger cable, tied it around his neck and hanged himself in his kitchen. - more

      Botswana chamber adopts Canada’s sustainable mining programme - The Botswana Chamber of Mines (BCM) has announced that it will adopt the Towards Sustainable Mining (TSM) initiative, a corporate social responsibility programme developed by the Mining Association of Canada (MAC) to improve environmental and social practices in the mining industry. - more

     Clive Palmer 'can't recall' huge payments from coffers of Queensland Nickel. - Clive Palmer has told a court an $8m payment to his father-in-law from his Queensland Nickel business in the years before its collapse may have been out of “love and affection”. - 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 14

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $4.87/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just under the 381,550 tonne level. Philippine Environment Secretary Regina Lopez continued her assault on mining and according to one report, accused miners of raping her country. Today she ordered the cancellation of 75 mining contracts. This action is further bolstering nickel bulls, who believe this attack on one of the large suppliers of nickel in the world, will adversely affect the supply/demand balance.
  • Average price of cash nickel so far this month - $4.70/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 firmer after hefty overnight gains on supply woes - 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
  • Stocks, Dollar Falter as Investors Await Yellen: Markets Wrap - more
  • El Niño or ENSO-neutral for 2017 - more

     Philippines' environment agency to cancel 75 mining contracts - The Philippine environment minister on Tuesday ordered the cancellation of mining contracts in watershed areas, taking another bold step in protecting resources from extraction after earlier shutting more than half of the country's mines. - more

  • Philippine environment minister doubles down on mining crackdown - more
  • Saying mining is 'raping' us, Philippines minister continues crackdown - more

     Nickel market rebalancing put on hold as divergent Indonesia, Philippines strategies signal standoff - A rebalancing of the nickel market has been cast into doubt as divergent strategies by major producers Indonesia and the Philippines muddle the outlook, a recent report by Bank of America Merrill Lynch has found. - more

     Ni SUS Scrap Purchase Price in Kanto in Feb Starts with JPY130,000/135,000 = Remains unchanged from January on alert against recovery in LME Ni price and difficult cargo booking = As of February 7, Stainless steel mills in the Kanto area offer the purchase price (delivered at plant) of nickel-containing stainless steel scrap (SABOT) at the range from JPY130,000 to JPY135,000 per ton. The price starts with the situation of remaining unchanged from January. (Hereinafter, the price is per ton) - more

     Antam Has 5m Tons of Low-Grade Nickel Ore for Export - State-controlled miner Aneka Tambang (Antam) has an estimated 5 million tonnes of low-grade wet nickel ore available for immediate shipping, corporate secretary Trenggono Sutioso told Reuters on Monday  - more

     Aluminium's parallel universes are colliding: Andy Home - There was a time when the global aluminium market could be seen as two parallel universes, to borrow a phrase coined by Klaus Kleinfeld, chairman and chief executive of Alcoa. - more

     Clive Palmer says he'll sue PM for $10M over 'lies' - Clive Palmer says he will sue Prime Minister Malcolm Turnbull and Employment Minister Michaelia Cash for defamation over "lies" about his role in the collapse of Queensland Nickel. - more

     Railway to Ring of Fire favoured - KWG Resources sees a bright future for the Ring of Fire and believes the best way to reach that future is on iron rails. - more

     Courtesy AISI - In the week ending on February 11, 2017, domestic raw steel production was 1,738,000 net tons while the capability utilization rate was 73.4 percent. Production was 1,709,000 net tons in the week ending February 11, 2016 while the capability utilization then was 73.1 percent. The current week production represents a 1.7 percent increase from the same period in the previous year. Production for the week ending February 11, 2017 is up 0.9 percent from the previous week ending February 4, 2017 when production was 1,723,000 net tons and the rate of capability utilization was 72.7 percent. - source

  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 13

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $4.84/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday but increased on Friday and start the week just under the 383,050 tonne level. Stockpiles of zinc now sit 610 tones higher than nickel stockpiles with cancelled warrants running at 28.37% compared to nickel's 28.52%. Nickel mines in the Philippines report no damage after this weekend's earthquake, although many are closed due to the Environmental Minister's declaration of war on mining. President Duterte told reporters he has Gina's back (apparently what Minister Regina Lopez goes by) in her decision to shut down numerous nickel mines. The technical line of resistance at $4.75/lb has fallen, with the next target at $4.97/lb, with the important psychological line at $5.00/lb. We show nickel trading above its 10, 30, 100 and 200 day moving averages, putting nickel trading in the overbought position, but all other technical signals are bullish.
  • Average price of cash nickel so far this month - $4.68/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 highest since May 2015 on supply curbs - more

  Reports

  • Damstahl Stainless Steel Report - February 2017 - 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 Keep Climbing as Treasuries Decline: Markets Wrap - more

     Fake receipts at Glencore warehouse unit triggered sector credit freeze, Qingdao shivers -sources - Some global banks briefly froze credit lines for Singapore metal traders last month after a unit of commodities giant Glencore uncovered fake warehousing receipts, people familiar with the matter said, reviving the spectre of a $3 billion scandal that rocked the trading world three years ago. - more

     Australia's Ravensthorpe nickel mine cut off by rains -First Quantum - Heavy rains have cut access in and out of the Ravensthorpe nickel-producing operations in Western Australia, owner First Quantum Minerals said on Monday. - more

     Terrafame's mine to continue ramp-up after financing deal with Trafigura - Trafigura, a multinational commodity trading company based in Geneva, Switzerland, has acquired a 15.5 per cent stake in Terrafame, a Finnish state-owned mining company, as part of a 250 million euro funding arrangement.. - more

     Philippines mining shutdown - The Philippines is the world's biggest supplier of nickel ore. President Rodrigo Duterte's government has shut down over half of the country's mines. - more

  • Duterte: Nothing I can do about mining closures if companies can’t restore nature - more
  • Philippines starts to repair damage in quake-hit southern province - more

     Import Volume of Stainless Steel Scrap in December 2016 - According to the import statistics prepared by the Ministry of Finance, the import volume of stainless steel scrap in December 2016 was 7,309 tons, down by 2.0% from the prior month. - more

     Clive Palmer targets Michaela Cash in defamation claim - Clive Palmer has claimed he lives in fear because of a damning character assessment by the Turnbull Government, and has demanded $250,000 in compensation. - 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 9

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.76/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 382,600 tonne level. Nickel closed above resistance yesterday but is struggling to do it a second consecutive day. Doing so could send a bullish technical signal to the market. As is, a few technicals have turned bearish, with the stochastic reading showing the market is overbought. Reports from the Philippines is causing further confusion, with Lopez's mine closure announcement last week, apparently overriding the commission's recommendations and now in question. Apparently the miners are being told they will have their day in court - so the drama will continue for some time. Interesting point to ponder - Although Lopez has the full backing of President Duterte, she has yet to be confirmed by the Philippine Congress in her position.  This is our final update for the week, so we hope each of you has a relaxing and enjoyable weekend.
  • Average price of cash nickel so far this month - $4.67/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 highs but supply risks lend support - 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
  • Volatility & rising prices: The commodity rally is squeezing MSMEs - more
  • Europe Stocks Extend Asia Momentum as Bonds Climb: Markets Wrap - more

      Philippines follows Indonesia in confounding nickel market expectations - The Philippines has followed the Indonesian government in surprising the nickel market. The Department of Environment and Natural Resources (DENR) has ordered the closure of 23 mines in the country following an audit process which started back in July 2016. The DENR also maintained that five mines should remain suspended. - more

  • Nickel industry group lauds due process for shuttered mines - more
  • Duterte's legal counsel says mine closures, suspension will undergo due process - more
  • Lopez says mine closures in watershed areas non-negotiable - more
  • Mining industry gasps for breath - more

      Will LME Nickel Keep Rising Strength Seen in 2017 Chinese New Year Holiday? SMM Reports - LME nickel rallied from lows during the 2017 Chinese New Year Holiday from January 27 to February 2. LME nickel registered a 5-day rising streak after the Philippine’s decision to close 21 mining operations, and most of the mines are nickel ore producers, sending LME nickel up to $ 10,500 per tonne. - more

     Import Volume of SUS Products in December 2016 Is 19,474 Tons = Down by 1% from prior month because of decreased import of products loaded in South Korea = The import volume of stainless steel products in December 2016 which was compiled by the Japan Iron and Steel Federation based on the foreign trade statistics prepared by the Ministry of Finance was 19,474 tons, down by 1.0% from 19,666 tons in the prior month. - more

     Confident of maintaining current EBITDA margins in upcoming quarters: Ashok Gupta, Jindal Stainless - In a chat with ET Now, Ashok Gupta, Jindal Stainless , said his company is expecting to maintain the profits despite fall in prices as demand will pick up. - more

    India Nickel Scrap prices remain stable; Nickel Futures advance nearly 2% - India's major nickel scrap prices remained stable on the Scrap Register Price Index as on Monday, while nickel futures prices at India's Multi Commodity Exchange advanced by nearly 2 percent led by news from Philippine. - more

    Latest issue of Nickel Magazine - From farm to fork, the essential part nickel plays in food production - 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 8

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.69/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME approved warehouses fell slightly on Tuesday and now total just under the 383,250 tonne level. Nickel is testing resistance today, and so far, is holding above that line by a few pennies. We have the next line of resistance at $5.32/lb, so if the market closes above $4.75/lb for two consecutive days, it could send a very bullish signal. Another day of heavy reading below so enjoy.  
  • Average price of cash nickel so far this month - $4.65/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 boils as world's top two mines set to start output cuts - 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
  • INTL FCStone analyst Edward Meir - "More important to the sustainability of nickel's bullish narrative is whether Indonesia will further ramp up its output, as it has already been doing for some time now.....New Caledonia is also gearing up, granting three more companies the right to export nickel ore to China. Pressure could also start forming on the demand side as well; although Chinese stainless demand has been very strong this past year, we don't see the same rate of growth in 2017."
  • Earnings Buoy Stocks as Peripheral Bonds Recover: Markets Wrap - more

      Nickel market roiled by supply outlooks in Indonesia, Philippines - The nickel market has been undergoing wild swings this year, pummeled by Indonesia's move to relax an export ban but later buoyed by expectations of a supply decrease from the Philippines. - more

     Chinese Imports of Nickel Ore and Concentrates plunged 35% in December - The Chinese Customs authorities have released the foreign trade statistics for the country’s imports and exports of Nickel-containing products during 2016. - more

     LME Ni Average Price in January Down by 9% from Prior Month = Inventory level is up and rises to 382,290 tons at end of month = LME monthly average nickel price in January 2016 was Cash seller: US$9,984.29 per ton (US$4.529 per lb) and 3-month seller: US$10,039.76 per ton (US$4.554 per lb). - more

      Mine closures worry nickel buyers - The Environment department’s decision to shutter and suspend more than three-fifths of the country’s 41 metal mines, which account for half of the country’s nickel supply, is rattling nickel buyers, especially in China and Japan, an industry official said. - more

      Pollution cuts from Norilsk Nickel could quiet Norwegian rebels - Norilsk Nickel head Vladimir Potanin announced plans to spend $17 billion in the company’s modernization during a meeting with President Vladimir Putin last week, about a quarter of which will go toward environmental improvement, by 2023. - more

      US DLA sells low-carbon ferrochrome; offers more material - The US Defense Logistics Agency has sold 151 st of low-carbon ferrochrome from the national stockpile in the month of January at a single sale held on January 31, the agency said Tuesday. - more

    Clive Palmer tries to delay Queensland Nickel court hearing - A judge is considering whether to delay the questioning of Clive Palmer about claims he used his failed Queensland Nickel business to bankroll other companies and his political party. - more

      Global Stainless Steel Market 2016 – Acerinox, Aperam, Thyssen Krupp, Jindal Stainless, AK Steel, Outokumpu USA, Mexinox - Global Stainless Steel Market 2016, presents a professional and in-depth study on the current state of the Stainless Steel market globally, providing basic overview of Stainless Steel market including definitions, classifications, applications and industry chain structure. - more

     Exclusive: White House eying executive order targeting 'conflict minerals' rule - sources - President Donald Trump is planning to issue an executive order targeting a controversial Dodd-Frank rule that requires companies to disclose whether their products contain "conflict minerals" from a war-torn part of Africa, according to sources familiar with the administration's thinking. - 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 7

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Monday's trading session at $4.74/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored i LME approved warehouses rose on Monday and now total just under the 383,300 tonne level. A stronger US Dollar is putting negative pressure on base metal trading this morning and at the moment, that is enough to push nickel lower. Technical signals remain tilted to the bullish side. The Philippines' Environment and Natural Resources Secretary Regina Lopez is fast becoming the poster child for anti-mining groups around the world with her decision that the Philippines eco-system are to fragile for mining activity. Those who were considering investing in this country are taking notice.  
  • Average price of cash nickel so far this month - $4.64/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 on higher dollar and China demand angst - 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
  • Norilsk Nickel: A Putin Play - more
  • Dollar Jumps, Gold Falls as Demand for Havens Ebbs: Markets Wrap - more

    Nickel market doubles up on political uncertainty: Andy Home - Last month Indonesia rocked the nickel market. This month it is the turn of the Philippines. - more

    Asian Q1 ferrochrome contract prices set at 110-128 cents/lb CIF - Specialty steelmakers in Asia set first quarter high-carbon ferrochrome contract prices in a wide range of 110-128 cents/lb CIF because different mills bought at different times over the last four months, market sources said Monday. - more

    Philippine mining firms urge minister to publish audit - A Philippine mining industry body said it will file a freedom of information request on Tuesday to press the government to release the results of a mining audit, following an order to close over half of the country's mines. - more

  • 30,000 jobs at stake with closure of mine firms — Chamber of Mines Caraga - more
  • Kneejerk decisions - more
  • DENR does ‘tokhang’ - more

    Sherritt’s nickel-price boost capped by debt, ‘confusing’ U.S. signals on Cuba - David Pathe knows what it’s like to be banned from the United States. - more

    Philippines orders mines shut: Medusa unaffected, but nickel sentiment boosted - The Philippine authorities are cracking down on environmental violations, but Medusa is unaffected - more

     Courtesy AISI - In the week ending on February 4, 2017, domestic raw steel production was 1,723,000 net tons while the capability utilization rate was 72.7 percent. Production was 1,665,000 net tons in the week ending February 4, 2016 while the capability utilization then was 71.2 percent. The current week production represents a 3.5 percent increase from the same period in the previous year. Production for the week ending February 4, 2017 is down 0.7 percent from the previous week ending January 28, 2017 when production was 1,736,000 net tons and the rate of capability utilization was 73.3 percent. - source

  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 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Friday's trading session at $4.64/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Friday and start the week just under the 382,200 tonne level. Most technical signals are bullish this morning, and we show the next line of resistance around $4.74/lb. This gives nickel some room to run, but traders appear to be somewhat cautious with China returning to work today after a week long holiday break.  Bulls are probably kicking stray dogs after a near miss in January. With the Philippines shutting down nickel mines like crazy, had the three year Indonesia export ban on nickel ore been renewed, we could be seeing nickel traded prices soaring. But just as things in the Philippines turned sour, Indonesia decided to lift some of its export restrictions. LME nickel stockpiles bottomed out on October 13th , when they fell to 360,096 tonnes. Since then they have slowly increased. We expect a volatile trading week.  
  • Average price of cash nickel so far this month - $4.62/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 steadies above 2-week low, buoyed by supply woes - 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
  • Reuters - Friday - The Philippine move will potentially result in a loss of 50,000 tonnes of supply in the global nickel market and deepen this year's supply/demand deficit to 97,000 tonnes, said Jim Lennon, senior commodities consultant with Macquarie. "A moderate deficit becomes a significant deficit," he said in a note. "The immediate impact of such a programme of closures will be to raise nickel ore prices."
  • Currencies, Bonds Underscore Rising Political Risk: Market Wrap - more

     Philippines "unfit for mining" because of nation's unique ecosystem - minister - Philippine Environment and Natural Resources Secretary Regina Lopez will not reconsider her decision to shut down 23 of the country's 41 mines, saying the Southeast Asian nation is "unfit for mining." - more

  • Team advised Philippine mine suspensions, not closures: sources - more
  • PHL mining group says mine closures, suspension to affect 1.2 million people - more
  • Mine closure order will cost jobs: Philippine ministers - more
  • Philippine ministers concern over mass pit closure - more

     China's Import and Export Results of Nickel in December 2016 - According to the foreign trade statistics of China, the import and export results of nickel-containing products in December 2016 are as per the table below. - more

  • China releases Nickel Import, Export Trade Statistics for 2016 - more

    China Hanking to resume Indonesia nickel mine production -  China Hanking said it has decided to initiate the preparatory works to resume mining production from the laterite nickel project located in North Konawe Regency, South East Sulawesi Province, Indonesia since the first half of 2016. - more

     Govt ponders banning raw chrome exports - Mines minister Walter Chidakwa has disclosed that the government is losing millions of dollars in potential revenue by allowing chrome miners to export the mineral in its raw form instead of beneficiated ferrochrome, which fetches a higher price on the international market. - more

     Japan ferrochrome price rises as low offers disappear amid active trade - The S&P Global Platts CIF Japan ferrochrome price rose to $1.13-$1.20/lb CIF Japan Friday, from $1.10-$1.15/lb CIF Japan a week ago as offers as low as $1.10/lb were no longer heard amid active trade. - more

     Hill says time to go Clive - Mayor Jenny Hill is calling on Clive Palmer to make his intentions clear about the future of Queensland Nickel’s Yabulu refinery. - more

     US finds on final steel dumping margins - The US Commerce Department on Thursday stepped closer to placing duties on imports of stainless steel sheet and strip from China, issuing a final determination that the products were being subsidized and dumped in the US market at below fair value.- more

  • Beijing warns US over high taxes on Chinese steel products - 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 2

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Wednesday's trading session at $4.65/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started today just under the 383,100 tonne level. Cancelled warrants have been stuck at or near the 30% level since last Thursday. Environment and Natural Resources Secretary Regina Lopez is taking more action against miners in the Philippines, while her boss puts a temporary halt on his war on drugs. Nothing like seeing miners and drug dealers making the headlines at the same time as jointly destroying the fabric of Philippine society. Lopez has come to office with an agenda and has decided that mining in her country are the root of all environmental evil, and anyone betting her attacks won't continue, is betting against the odds. In the mean time, traders are betting her war on nickel will help boost the cost long term. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $4.55/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Nickel hits 2-week high after Philippines orders mine closures - 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
  • Dollar Falls as Fed Path Assessed; Stocks Retreat: Markets Wrap - more

     Philippines to shut half of mines, mostly nickel, in environmental clampdown - The Philippines ordered the closure on Thursday of 23 mines, mainly nickel producers that account for about half of output in the world's top nickel ore supplier, in a government campaign to fight environmental degradation by the industry. - more

  • DENR to close 21 mining firms - more
  • Mining firms to seek legal remedies after closure, suspension orders - more

     Stainless steel maker Outokumpu proposes first dividends since 2010 - Outokumpu, Europe's largest stainless steel maker, reported its first annual core operating profit since 2007 on Thursday and proposed its first dividend since 2010, sending its shares sharply higher. - more

     Service Center Shipments Down Across the Board - Service center shipments in the U.S. and Canada finished 2016 with year-over-year declines in both steel and aluminum, reports the Metals Service Center Institute, Rolling Meadows, Ill. Inventories mostly remained below prior-year levels, though stocks crept up at year’s end. - more

     Finnish PM cleared in nickel mine conflict of interest review - Prime Minister Juha Sipila was cleared by Finland's parliamentary watchdog on Wednesday of any conflict of interest over the government's funding decisions for a state-owned nickel mine, following a public outcry. - more

     Glencore - Production Report for the 12 months ended 31 December 2016 - more

     Freeport's Mo Production in 2016 Is 80 Million LBS = Down by 13% from prior year, and sales volume is 74 million lbs, down by 17% ditto = On January 25, Freeport-McMoRan Copper & Gold Inc. (FCX), a gold mining company in the U.S. announced its production and sales volumes in the full year 2016 (January - December) and also in the period from October to December. - more

     Philippines news a tale of differing fortune for Aussie miners - Shares in Western Areas soared while those of Oceanagold dived after the Philippines moved to close down at least five nickel mines and suspend others, including the country’s top gold producer. - more

     Feasibility of reopening Kimberley nickel mine looking good for Panoramic Resources - Mining company Panoramic Resources says it is in a good position to restart its nickel mine north of Halls Creek as soon as the commodity price improves. - more

     Who’s Afraid of Steel Import Duties? - Steel import tariff rates have always been a sensitive issue for government officials and industry 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

Wednesday, February 1

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Three month nickel closed Tuesday's trading session at $4.52/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.04//lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just over the 382,600 tonne level. We have shifted our morning update time to between 6:30 and 7 am CST, instead of an hour earlier. Nickel has regained the $10,000 tonne level today, and now has paused as traders decide if this bullish run is technically driven, or in anticipation of China returning from their week long holiday next week in a buying mood. Lots of news to start the new month so enjoy.
  • Average price of cash nickel so far this month - (January average) $4.53/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/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 retreats from 2-month high as mine strike looms - 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
  • Corporate Outlook Spurs Stocks as Eyes Turn to Fed: Markets Wrap - more
  • El Niño–Southern Oscillation remains neutral - more

     Russia's Nornickel sees nickel, palladium output up in 2017 - Norilsk Nickel (Nornickel) , one of the world's largest nickel and palladium producers, plans to increase output of its main metals from Russian raw material this year, the company said in a statement on Tuesday. - more

  • Meeting with Norilsk Nickel CEO Vladimir Potanin - more

     Philippine minister says some mines need to be shut on eve of green audit results - Some Philippine mines need to be shut given the environmental harm they have caused, the minister in charge of sector said on Wednesday, a day before the government announces the results of a months-long review of the country's mineral producers. - more

    Nickel stocks spin as Indonesia eases export ban - Shares in miners and metal producers have swung wildly as Indonesia's relaxing its nickel export ban raised hopes about their business prospects as well as concerns over falling prices of the metal. - more

     Sherritt forecasts higher 2017 nickel output - Canada-based Sherritt International Resources is forecasting higher nickel production in 2017, especially from its 40%-owned Ambatovy nickel and cobalt joint venture (JV), in Madagascar. - more

     BHPB's Production of Nickel and Molybdenum in Oct-Dec 2016 = When compared with prior period, production of nickel is up but production of molybdenum is down = On January 25, BHP Billiton Limited (BHPB) announced its production results and sales volumes in the period from October to December in 2016. - more

     Lawsuit: Feds sold Superior National Forest land to mining company for way too cheap - Canadian mining company PolyMet wants to open a first-of-its-kind mine in the Superior National Forest to crack into the area’s rich deposits of copper, nickel, and platinum. - more

     Contract for Mine Millers 'a tough one' - Union representatives were confident a tentative deal with Glencore's Sudbury Integrated Nickel Operations would be approved Tuesday as production and maintenance workers packed a conference room at the Radisson Hotel to place their votes. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

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