This
page is archived news covering the period of January 2014
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Friday, January 31
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.29/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell on Thursday and now total just over the 266,500
tonne level. While China markets were closed last night, European equity
markets opened in a foul mood on deflationary fears this morning, and Dow
futures show US markets could open lower as well. US investors will get a
look at December consumer spending today, as well as January's University
of Michigan’s consumer-sentiment survey reading. Nickel trading had
another volatile month on Indonesia' ore export ban, but that has fizzled
here in the last week. In fact, nickel is now trading for less than it was
on the first day of the month, in London, India, and China, but has yet to
reach the low levels it did during the second week of the month. Base metals
trading has suffered as part of an overall exit from risky investments as
emerging markets get hammered by the Fed's decision to taper. What February
will bring remains to be seen but China will be closed for much of the first
week. Nickel has now fallen below its 20, 50 and 100 day moving averages,
so it not yet showing signs of finding a bottom to its week long free fall.
Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.39/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Merafe PR) Merafe’s attributable ferrochrome production from the
Glencore-Merafe Chrome Venture (the Venture) was 32% higher year on year.
This increase was as a result of higher demand, resulting in operating
utilisation of 87% of the Venture’s smelting capacity. Ferrochrome sales
volumes for 2013 increased by 23% year on year.
(SSY) According to the latest World Steel Dynamics SteelBenchmarker, the
world export price for hot rolled band rose slightly in the second half of
January 2014, up $1/t to $564/t. This is $14/t below the year-ago level.
US and Chinese HRB prices both fell, by $1/t to $743/t and by $2/t to $475/t
respectively. This marks the lowest Chinese HRB price for seven months. EU
HRB prices rose by $2/t to $610/t over the same period, in line with the
trend of recent months.
Chinese-Backed Nickel Mining Project Draws Concerns in Chin State -
A planned nickel-mining project in the mountains of Burma’s poorest
state is causing concern among locals worried about its environmental impact.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, January 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.35/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.05/lb
lower, with all London
traded base metals trading lower this morning. Stockpiles of nickel stored
in LME licensed warehouses rose to a fifth consecutive record high at 266,718
tonnes. HSBC released its China manufacturing PMI numbers overnight and their
final numbers confirmed an early contraction reading, albeit slightly worse
at 49.5. Yesterday, the US Fed announced it would back off a little more
on its tapering. Turkey is still wrestling with the devaluation of their
currency as the stress on emerging markets begins to unfold. This cocktail
of negative investment news is not helping nickel, which has been trading
lower since last Friday. We are nearing another level of support at $6.30/lb,
this one might actually slow down nickel's decline, unless the escape
from riskier investments like base metals continues. China is closed for
business thru mid next week for their week long New Year holiday. Asian markets
ended lower overnight, with European markets trading lower but off earlier
lows. US Dow futures are higher at the moment with technical traders
fixated on a key support level the S&P is toying with.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
The numbers don't lie: Why the industrial minerals sector is here to stay
-
more
Indonesia's Ore Export Ban Expected to Improve Demand & Supply for Ni
=China's production of Ni is likely to decrease drastically= The world
demand-and-supply balance for nickel has continued to be in a state of excess
supply for more than 3 years, which arose from mass production of nickel
pig iron (NPI) in China. -
more
Indonesia
sees plunge in nickel ore, bauxite output in 2014 - Indonesian production
of nickel, iron and aluminium ores is expected to plummet in 2014, the mines
ministry said on Wednesday, following a strict government ban on exports
of unprocessed minerals. -
more
PolyMet Hearings
Draw Big Crowds, Decision Still Long Ways Off - The final of three major
public hearings for Minnesota’s first proposed copper-nickel mine drew
another big crowd in St. Paul, just like previous hearings in Duluth and
Aurora earlier this month. -
more
BNC smelter
upgrade important short-term focus for Mwana - The most important short-term
focus for Aim-listed Mwana Africa’s Bindura Nickel Corporation (BNC),
in Zimbabwe, was to get the operation’s smelter running once again,
CEO Kalaa Mpinga said on Wednesday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, January 29
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.42/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.01/lb
lower, with other
base metals mostly higher, but very quiet. Stockpiles of nickel stored in
LME approved warehouses rose to its fourth consecutive record high at 264,432
tonnes. Markets appear to be on hold this morning to see what the US Fed
will announce as it concludes its two day meeting. The possibility of further
tapering, and how much it might be, and how that might affect emerging markets,
leads traders concerns this morning. Nickel slipped below its 20 day moving
average yesterday, with the 50 day moving average at $6.30/lb today. Asian
markets followed yesterday's US close and ended higher. European markets
opened higher this morning, and while they remain positive, they have been
sliding since the opening. US Dow futures are negative. Chinese markets are
officially open for one more day before they begin a week long holiday.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(AMM) Stainless scrap prices drop as nickel contracts cool off
(MB) Ferro-chrome market facing oversupply in 2014, Roskill says
(AM) Chinese low carbon ferrochrome market keeps stable but weak
Water Contamination
a Major Topic at PolyMet Mine Hearing - There was a massive turnout in St.
Paul on Tuesday night as the public debated a first-of-its-kind mining project
in one of the most pristine parts of Minnesota. -
more
1,500 pack St. Paul hearing on contentious PolyMet mine proposal -
more
Angry landowners
assault two miners - Two Chinese employees of the RamuNiCo project at the
Kurumbukari mine site were assaulted and wounded by frustrated landowners
last week. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, January 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.40/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and quiet. Stockpiles of nickel stored
in LME approved warehouses rose to its third consecutive record high on Monday,
to 264,288 tonnes. Asian markets ended lower overnight, but European markets
are trading higher, with US Dow futures also pointed north. The situation
in Indonesia continues to grow more confusing, as each week brings more news
of potentially expanding export restrictions. And in China, the primary target
of these restrictions, the price of refined nickel is on the decline.
Technically, the short term trend for nickel remains bullish. But looking
at the price chart, one must admit that the recent spike may have been no
more than a knee jerk reaction to the Indonesia ban, and that a bearish mood
has set in.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
El Nino May Return as Models Signal Warming of Pacific Ocean -
more
ENSO-neutral conditions to continue into autumn -
more
Indonesia
to limit exports of processed minerals - Indonesia will issue export
quotas for processed minerals and concentrates soon, a senior mines ministry
official said, the latest policy step tied to controversial government efforts
to take greater control over shipments of its natural resources. -
more
Export Ban Has Jakarta Doing Math - Indonesia’s ban on exports of key
mineral ores — unless they are processed in the country — risks
backfiring as weaker commodity prices mean it is not cost-effective to invest
in expensive smelters and refineries. -
more
BHPB's
Production of Ferroalloys and Nickel in Former Half of 2013 = Compared to
production of year-earlier period, Mn ore is flat and Mn alloy is up = On
January 22, BHP Billiton Limited (BHPB) announced its production results
and sales volumes both in the former half of 2013 (July to December) and
in the period from October to December. -
more
KGHM
International to cut back at Sudbury mine - Company photo Employees at KGHM
International's McCreedy West Mine are waiting to learn their fate after
hearing from company officials last week that as many as 70 of 100 members
of United Steelworkers Local 2020 could be laid off Feb. 16. -
more
Australia's
Poseidon seeks capital to rework nickel mine - Poseidon Nickel, the
reincarnation of the company behind one of the most spectacular stock crashes
in Australia, is in talks with investors to raise capital to help finance
the development of a long-dormant nickel deposit as the outlook for the metal
brightens. -
more
PolyMet mine
hearing could draw large crowd to St. Paul hearing - The Minnesota Department
of Natural Resources, U.S. Army Corps of Engineers and U.S. Forest Service
are hosting a public meeting Tuesday night on an environmental review of
what's proposed to be the first copper-nickel mine in the state. -
more
Courtesy AISI
- In the week ending January 25, 2014, domestic raw steel production was
1,824,000 net tons while the capability utilization rate was 76.1 percent.
Production was 1,832,000 net tons in the week ending January 25, 2013, while
the capability utilization then was 76.5 percent. The current week production
represents a 0.4 percent decrease from the same period in the previous year.
Production for the week ending January 25, 2014 is down 0.7 percent from
the previous week ending January 18, 2014 when production was 1,836,000 net
tons and the rate of capability utilization was 76.6 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, January 27
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.57/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses rose to a record high for a second consecutive
session on Friday and now total 264,090 tonnes. China markets will close
for a week long holiday on Friday, and while one might expect the forthcoming
week to be somewhat quiet, there are other factors that could add a degree
of volatility. We have the Fed meeting for two days starting Tuesday, and
concerns over Fed tapering always add some uncertainty to world markets.
US equity market futures are positive this morning but the cliff dive they
took last week are still rebounding thru world markets, which are mostly
lower this morning. As traders pull back from risky trades, commodities see
prices fall. Nickel is still showing some resiliency, but we are watching
weak support at $6.49/lb to give some possible guidance for the upcoming
week.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(FAN) Chinese import prices for ferrochrome and charge chrome were unchanged
this week, as market activities slowed ahead of the Lunar New Year holidays
starting end-January.
Activist investor Cevian ups Thyssen stake to 12-15 pct -source -
more
Lead, Zinc,
Nickel to Advance, UBS's Schnider Says - Dominic Schnider, head of commodities
research at UBS AG's wealth-management unit in Singapore, talks about the
outlook for the metals and cocoa markets. He speaks with Rishaad Salamat
on Bloomberg Television's "On the Move." -
video here
Antam
and Vale Receive Green Light on Processed Mineral Exports - Antam and Vale
Indonesia — two of the biggest nickel producers in the country —
have secured a recommendation letter to export their processed mineral products,
almost two weeks after the government enforced a ban on ore shipments. -
more
SBMA
stops nickel ore unloading following protests - Officials here have stopped
the unloading of soil bearing nickel ore following complaints from environmental
advocates against what they said was the use of this free port as a temporary
storage area for pollutants. -
more
LME
Ni Price Takes Break after Rebounding and Inventory Also Increases =Impact
of Indonesia's ore export ban fades away= LME nickel price as cash seller
settled on January 20 was US$14,435/MT, down from the last weekend. -
more
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, January 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.62/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.06/lb
lower, with other
London traded base metals trading mixed and mostly higher, Stockpiles of
nickel stored in LME licensed warehouses rose to a new all time record high
on Thursday and now total 263,898 tonnes. Nickel is down today as stockpiles
reach new record highs, after 3 weeks that were hinting new record high levels
may have ended. Market is still reacting negatively to yesterday's flash
PMI reading from China, showing manufacturing growth may have turned negative
in December. Looking at nickel's trading technical signals, nickel is still
reading nearly 99 on the stochastic indicator, which implies nickel is heavily
overbought, but still bullish. If nickel closes below $6.70/lb again today,
we may get a bearish signal, that a strong line of resistance could not be
breached. China begins a week long New Year holiday break beginning late
next week, so Chinese nickel and stainless steel markets have grown quiet.
The official public holiday runs from next Friday thru the following Thursday.
The 'unofficial' holiday begins next Thursday and lasts thru the 15th of
February. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.38/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) The British banking giant Barclays expects LME nickel prices to average
around $15,000 a ton this year and $17,000 a ton in 2015.
(SSY) The HSBC Flash China Manufacturing Purchasing Managers Index fell to
a six month low of 49.6 in January 2014. This is the fourth month in succession
the index has fallen, and the first time since August 2013 it has dropped
below the benchmark of 50 (indicating an expansion in activity).
(CFI) Taiwan’s fastener exports hit record high in 2013 to 1.46 million
tons, up 5.78% over 2012 due to the recovery of European, American, and Russian
markets.
Indonesia's
mining exports at standstill after new rules -govt officials - Indonesia's
metal ore and concentrate exports have ground to a complete halt, government
officials said on Friday, signalling the turmoil in the mining sector after
a ban on ore shipments and an export tax were imposed nearly two weeks ago.
-
more
China
Ferrochrome: Import prices flat amid slowdown ahead of Lunar New Year holidays
- Chinese import prices for ferrochrome and charge chrome were unchanged
this week, as market activities slowed ahead of the Lunar New Year holidays
starting end-January. -
more
Production
of Stainless Steel Products in November 2013 Is 230,097 Tons =Down by 8%
from prior month, and production of both Ni-type and Cr-type decrease= On
January 20, the Ministry of Economy, Trade and Industry announced the production
volume of stainless steel products (hot-rolled products) in November 2013
was 230,097 tons, which represented a decrease of 7.9% versus the prior month
and an increase of 7.5% versus the year-earlier month. -
more
Xstrata Nickel bribes lawmakers, journalists, officials: Senator - La Vega
senator Euclides Sanchez on Thursday accused Xstrata Nickel’s Dominican
Republic operation (Falcondo) of bribing lawmakers, journalists, and Government
officials, which he didn’t identify, to mine Loma Miranda (central).
-
more
Republicans
support copper-nickel mining permits - The Minnesota 8th Congressional District
Republican Committee announced its strong support for copper-nickel mining
and projects seeking permitting in Minnesota. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, January 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.71/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.06/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose on Wednesday and now total just under 261,400
tonnes. Metals are lower this morning after an initial report of the SBC/Markit
China manufacturing Purchasing Managers’ Index reported a negative reading
for the first time in six months in December. This was unexpected and the
markets do not like surprises. Most concerning was a continued contraction
in new export orders and employment. Nickel has butt up against the $6.70/lb
line of resistance we have been talking about, and after one close above,
it appears it may not be able to do it for a second consecutive day. News
was much lighter today, with neither Reuters or Bloomberg issuing a morning
metals report.
Average price of cash nickel so far this month - $6.37/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters) China's MMG Ltd has held talks recently on a possible sale of its
Avebury nickel mine in Australia, and hopes a jump in nickel prices following
an Indonesian export ban could boost the sale price, its chief financial
officer said on Thursday.
(China) Manufacturing PMI expected to hit 6-month low -
more
(India) Nickel
down 0.5% on global cues - Amid a weak global trend and low domestic demand,
nickel prices declined 0.52% to Rs 907.60 per kg in futures trade today as
speculators trimmed their positions. -
more
Global steel
output hits new record in 2013, boosted by China - Global steel production
hit a new record high in 2013 helped by strong output performances in China
and other Asian countries which offset a contraction in Europe and the United
States, data from an industry body showed on Thursday. -
more
Sherritt
says Ambatovy nickel operations reach commercial output - Sherritt International
Corp said on Wednesday its Ambatovy nickel operations in Madagascar had achieved
commercial production. -
more
Supporters
pack PolyMet mine hearing in Aurora - The second of three hearings on the
proposed PolyMet copper-nickel mine drew hundreds of supporters who hope
the project returns jobs and needed revenue to the Iron Range in northeastern
Minnesota. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, January 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.69/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading lower and quietly as well. Stockpiles of
nickel stored in LME approved warehouses fell on Tuesday and now total 260,700
tonnes. This is 768 tonnes lower than it read on January 2nd. Nickel is showing
some hesitation as it approached the technical line of resistance at $6.70/lb.
This is an important line of resistance as it marks the highest level nickel
has traded in the last six months and was last hit in early August. Successfully
breaking thru and holding above this level could send a strong bullish signal
to the market. An inability to successfully punch thru this level, and hold
above it, could send an equally strong bearish signal. Speaking of bearish
and bullish signals, compare the nickel forecasts by Morgan Stanley and Goldman
in our first article below. Keep in mind that the nickel industry wants everyone
to believe the Indonesia nickel ore ban is a fundamental shift in the industry.
With many mines spending the latter part of 2013 selling at a loss, they
need the market to be concerned so it will drive prices higher. How long
this concern will last, will determine how long traders drive the price higher.
With the week long Chinese New Year holiday starting at the end of next week,
signals from China will not come quickly. If they are concerned about future
supply, they have yet to show their hand.
Average price of cash nickel so far this month - $6.35/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Morgan Stanley
Sees Nickel Oversupply, Goldman Sees Rally - The nickel market remains
oversupplied and prices will hover near current levels, according to a report
by Morgan Stanley (MS) today that contrasts with forecasts from Citigroup
Inc. and Goldman Sachs Group Inc. for a rally. -
more
Indonesian
mining group challenges ore export ban in court - Indonesia's Mineral
Entrepreneurs Association has filed a legal challenge against a ban on ore
exports introduced less than two weeks ago. -
more
China Nickel
Imports and Exports Data December 2013 - The General Administration of China
Customs released data of China's December imports and exports of nickel on
January. 21.st(Unit: mt) -
more
Philippines
Nickel Asia sees price, not volume, gains on Indonesia ban - Philippine nickel
ore producer Nickel Asia Corp is seeing a jump in enquiries after neighbour
Indonesia banned ore exports this month, but is sold out and expects to benefit
from the ban through higher prices, senior executives said. -
more
Stainless
Crude Steel Production by Major SUS Mills in Nov. 294,898 Tons =Down by 3.6%
from prior month= The stainless crude steel production by 7 major stainless
steel mills in November 2013 was 294,898 tons, down by 3.6% from 305,663
tons of the prior month. -
more
2nd public
meeting on proposed PolyMet copper-nickel mine set for Iron Range city of
Aurora - The second public meeting on the proposed PolyMet copper-nickel
mine is being held in the Iron Range city of Aurora. -
more
RNCOS
White Paper: Global Nickel Production to Cross 2.3 Million Metric Tons Mark
by 2017 - Global nickel industry was supported by the world economic
growth until 2007 with rising production of primary nickel metal. -
more
Indonesia’s ban on raw mineral exports may be Royal Nickel’s gain
- Indonesia’s outright ban on exports of raw nickel ore will put upward
pressure on prices and make Royal Nickel Corp.’s $1.2-billion mining
project in Northwestern Quebec more attractive to investors, CEO Tyler Mitchelson
said Tuesday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, January 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.61/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stored in LME
approved warehouses fell on Monday and now total just under the 260,850 tonne
level. Stockpiles of nickel have fallen on 9 of 14 sessions so far this month,
but the overall total is just over 600 tonnes lower. Goldman Sachs is forecasting
the price of nickel will see more gains because of the Indonesia nickel ore
export ban, while Roskill is forecasting the effect the ban will have on
the overall supply glut will become evident in 2016-2017. The Euro is trading
lower this morning and this is adding negative pressure to base metals trading.
The short term trend for nickel trading remains positive.
Average price of cash nickel so far this month - $6.33/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(CK) China, the world's largest steel producer, saw its crude steel output
increase 6.5% year on year to 62.35 million tons in Dec 2013, according to
the latest statistics released by the National Bureau of Statistics. In whole
year of 2013, the country saw its crude steel output amount to 779.04 million
tons, 7.5% more than it realized in the previous year.
(AM) Japan’s stainless crude steel output rises by 2% in Jan-Nov
ISSF is pleased to announce the appointment of Mr. Kai Hasenclever as Director
Economics & Statistics and Long Products. Kai succeeds Peter Kaumanns
in this role.
Mwana Africa reports positive progress at Trojan mine -
more
Nickel Seen
Extending Rally by Goldman on Indonesia Ban - Nickel, the best-performing
industrial metal this year, may extend its rally as Indonesia’s ban
on unprocessed ore exports crimps supply, according to Goldman Sachs Group
Inc. -
more
Indonesia's Nickel ban not set in Stone - Following months of uncertainty
surrounding Indonesia's export ban on raw material exports, on January 12th
the country defied the cynics by implementing its controversial policy, with
nickel and bauxite exports most affected. -
more
Market Trend
of Import of Ferroalloy as of 15 January 2014 =Shipment of Chinese ferroalloys
is shifted after turn of Chinese New Year = Market trend of import of ferroalloy
as of 15 January 2014 is as follows. -
more
We need guarantees to continue: Xstrata Nickel Dom. Rep. - The CEO of Xstrata
Nickel’s Dominican Republic operation (Falcondo) on Sunday reiterated
that the company’s presence in the country depends on a long term mining,
with cheap electricity available, to produce and compete in world markets.
-
more
Courtesy AISI
- In the week ending January 18, 2014, domestic raw steel production was
1,836,000 net tons while the capability utilization rate was 76.6 percent.
Production was 1,832,000 net tons in the week ending January 18, 2013, while
the capability utilization then was 76.5 percent. The current week production
represents a 0.2 percent increase from the same period in the previous year.
Production for the week ending January 18, 2014 is up 0.3 percent from the
previous week ending January 11, 2014 when production was 1,830,000 net tons
and the rate of capability utilization was 76.4 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, January 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.57/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.10/lb
lower, with other
London traded base metals trading mostly lower and quiet. Stockpiles of nickel
stored in LME licensed warehouses rose on Friday and now total just over
the 261,250 tonne level. Cancelled warrants to continue to run in the 40%
range. Commodities are lower after reports show Chinese industrial-production
growth in December slowed a bit more than expected. Technical charts show
nickel ended Friday in overbought territory, implying more correction was
possible. We are seeing this today, and we will have to wait and see what
the rest of the week brings. Nickel was the ugly step child of base metals
traders last year, and the Indonesia nickel ore ban has given them some hope
the metal will trade with a little more volatility than it has. Stainless
steel producers, on the other hand, do not look forward to nickel price
volatility. I see it didn't take long for the Super Bowl to be called the
Stoner Bowl, with the Denver Broncos and Seattle Seahawks representing the
only two states where recreational marijuana use is legal.
Average price of cash nickel so far this month - $6.31/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Allegheny Price
Increase - Effective with shipments beginning on February 3, 2014, ATI Allegheny
Ludlum is increasing base selling prices for all Precision Rolled Strip products.
The price increase will be achieved by: - increasing the net transaction
price (before surcharge) by 6% for product thicknesses from 0.008¡¨
(0.023mm) through 0.015¡¨ (0.038mm); and - increasing the net
transaction price (before surcharge) by 8% for thicknesses less than
0.008¡¨ (0.023mm). This action is necessary to support continued
growth and investment in our business. We appreciate your continued support
as we implement this price increase.
Import price
of India-origin material inches higher - The Chinese import price for
Indian-origin ferrochrome (58-60% Cr) inched higher to 84-86 cents/lb CIF
China Friday, from 84-85 cents/lb CIF a week ago, as Chinese buyers lifted
their price ideas amid a strengthening Chinese yuan against the US dollar.
-
more
Ni Price
Rebounds Due to Indonesia's Implementation of Ore Export Ban =Price as cash
seller is US$14,065 in the afternoon market on January 13, and still shows
upward trend= The export ban on ores the Government of Indonesia already
gave notice was implemented on January 12. Because of this, LME nickel price
(cash seller) rebounded from the bottom price of US$13,365 and rose to US$14,065
in the afternoon market on January 13. -
more
Tata Steel
launches India's First Ferro Manganese and Ferro Chrome Brands - Tata Steel
has always endeavored to serve its customers with innovative products and
superior quality. Continuing with its journey of excellence Tata Steel yesterday
launched two new products, TATA FERROMAG (branded Ferro Manganese) and TATA
TISCROME (branded Ferro Chrome). -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, January 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.63/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.06/lb
lower, with most
other London traded base metals trading lower as well. Stockpiles of nickel
stored in LME licensed warehouses fell on Thursday and now totals just under
the 260,450 tonne level. While stockpiles have only set one new record high
this month, total numbers are only 1,020 tonnes lower than they were on January
2nd. Nickel is trading off session lows, and while traders appear to be taking
some week end profits, we see nothing in today's trading, that would lead
us to believe the bullish run is over. On the trading chart, the relative
strength index shows nickel is trading in overbought territory, with stochastic
readings sending a similar signal. Nickel looks to end the week with a 6%
gain in price, after last Sunday's nickel ore export ban began in Indonesia.
We still look for $6.70/lb to put up a line of resistance, one that may actually
give the market some resistance. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.28/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) US DOC levies anti-dumping duty on stainless steel pipes imports from
Vietnam
Rigaku Publishes New Method for Analysis of Metals in Nickel Ore -
more
ThyssenKrupp CEO tells investors needs time for overhaul -
more
Indonesia
nickel ore ban may dent China's stocks-Norilsk - Indonesia's ban on nickel
ore exports may lead to a fall in Chinese stocks of the material later this
year, Russia's Norilsk Nickel, the world's largest producer of the metal,
said. -
more
China’s
Nickel-Ore Supply Seen Lasting 6 Months After Ban - Chinese mills that rely
on low-grade ore from Indonesia to produce nickel pig iron, a substitute
for the refined metal, have built stockpiles to last about six months, a
Bloomberg News survey shows. -
more
Miners Chopping $10 Billion Search Bodes Next Price Boom - Mining companies
are extending massive cuts in exploration budgets for a second year, setting
up the next price boom as China continues its relentless pursuit of metals
and energy. -
more
DNR: 1,200
pack Polymet hearing in Duluth - The first of three meetings on what could
be the first copper-nickel mine in Minnesota got underway Thursday evening.
-
more
Divisive copper mine draws full house and strong views to first hearing -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, January 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.59/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and mostly quiet. Stockpiles of nickel
stored in LME approved warehouses slipped on Wednesday and now total just
under the 261,250 tonne level. Resistance at $6.50/lb put up very little
resistance, and now we look at $6.70/lb for the next line of technical
resistance. The nickel ore export ban in Indonesia continues to be the primary
topic of discussion as analysts try to determine the immediate and long term
effect it will have on the world market. The most notable statistic we have
noticed this month is we saw 15 all time record high stockpiles recorded
last month in LME licensed warehouses. That followed fourteen new record
highs in November. So far this month? Only one. Some of this could be caused
by a rash of year end shipments all hitting LME stockpile numbers. But the
change has been dramatic, although the overall total, is only down 200 tonnes
from the beginning of the year.
Average price of cash nickel so far this month - $6.23/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(CEN) China will remain the leading global consumer of wind turbine rotor
blades over the coming years, with its market value expected to increase
from $2 billion in 2012 to $3.7 billion by 2020, a compound annual growth
rate of 8.2 percent.
Van Voorden Completes Big Stainless Steel Propeller Order -
more
Chinese
firms speed up plans for Indonesian nickel refineries - Chinese firms are
speeding up plans to build refineries in Indonesia to produce nickel pig
iron, a substitute for higher grade refined nickel in stainless steel, after
Jakarta banned exports of unprocessed ore. -
more
First Nickel
Hits Targeted 2013 Nickel and Copper Production; Increased Nickel Production
Forecast for 2014 - First Nickel Inc. today provides its 2013 preliminary
production results and outlook with respect to 2014 production and costs.
-
more
Hundreds expected
at today’s PolyMet hearing in Duluth - There usually are several police
officers on hand and an ambulance parked outside whenever there’s a
major hockey game at the Duluth Entertainment Convention Center. -
more
First PolyMet hearing tonight in Duluth, but do comments matter? -
more
8th District GOP blasts DFL unit on opposition to copper/nickel mining -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, January 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.51/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses rose on Tuesday, but came in six tonnes
short of the all time record high set last Friday. Nickel opened much lower
this morning, and after spending most of the session in recovery mood, in
the last hour has hesitated and slumped again. Nickel has closed above our
line of resistance of $6.50/lb once, and a second close above today, would
signal more growth is likely. A close below $6.50/lb could signal the bull
run may be looking to take a break. They are strictly technical signals,
but with computers running much of the daily trades, technical signals are
worth watching. Besides, fundamentals mean far less than they used too.
Overnight, Asian markets followed yesterday's Dow recovery and ended higher,
with European markets also trading higher today. US futures point higher
as well after the World Bank upgraded its global growth forecast this year
to 3.2% thanks to strong recoveries in the U.S. and the euro zone. It also
warned that developing markets remain vulnerable to market volatility from
rising interest rates.
Average price of cash nickel so far this month - $6.23/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(ET) The Economic Times reported that Deutsche Bank AG has reduced its 2014
nickel forecast to $15,000 per tonne, an 11-percent decrease from its previous
estimate. The firm also lowered its 2015 forecast by 3.5 percent, to $15,250.
(NFIB) - NFIB Small Business Economic Trends, January 2014 - Owner sentiment
increased by 1.4 points to 93.9 in December. Adding November’s gain,
the Index has improved 2.3 points to end the year well above the January
reading of 88.9 – but lower than three other readings over 94 during
the year. It’s hard to make that case that the small business sector
has made significant progress. The highest reading in this recovery is 95.4,
so December is still short. And that reading is 5 points below the pre-recession
average of 100 and nowhere close to the readings over 100 that typify recovery
periods. On the plus side, half of the 10 Index components posted a gain,
and two were unchanged.
(CEN) China's electricity consumption, a key indicator of economic activity,
rose 7.5 percent year on year in 2013, the National Energy Administration
said on Tuesday.
China's nickel
ore prices may rise more than 50% on Indonesian export ban: Macquarie - The
price of imported nickel ore in China could jump more than 50%, following
Indonesia's export ban on the product which took effect January 12, Macquarie
Commodities Research said in a report Tuesday. -
more
China's Import
& Export Results of Nickel in November 2013 - The customs statistics
of China shows the import & export results of nickel-containing products
in November 2013 in the table below. -
more
Commodity
managers see demand growth ending pain after tough 2013 - Commodity fund
managers are betting a pick-up in economic growth will lead to improved price
performance in 2014 after a terrible year in which just two actively managed
funds in the Lipper Global Commodity sector made money. -
more
China ferrochrome
output to surge above 4 million mt this year: Antaike - China's high carbon
ferrochrome production is expected to surge to around 4.6 million metric
tons in 2014, according to Chinese state-owned metals research company Beijing
Antaike Information Development Co. -
more
Fed Weighs
Further Restrictions on Banks’ Commodities Units - The Federal Reserve
is weighing further restrictions on banks’ trading and warehousing of
physical commodities as Congress scrutinizes potential conflicts of interest
and manipulation in those markets. -
more
Workers
redeployed after nickel mine closure - BHP Billiton Nickel West has confirmed
that, after the closure of its Perseverance mine in Western Australia's northern
Goldfields, it has redeployed 30 workers. -
more
Indonesia's
Antam targets gold sales jump after nickel ore export ban - Indonesian
state-owned miner PT Aneka Tambang (Antam) is targeting a 30 percent rise
in gold sales this year which it hopes will ease the impact of a new nickel
ore export ban, its finance director told Reuters on Wednesday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, January 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.45/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading mostly higher, but much quieter than nickel.
Stockpiles of nickel stored in LME approved warehouses fell on Monday and
now total just over 261,350 tonnes. So far, 2014 has only seen three days
of inventory gains, and only one new all time record high. Considering this
was a near daily event in 2013, it will be interesting to see if this is
just a holiday dent, or with the Indonesia ban now in force, the beginning
of the end of record highs. The market looks to possibly close above the
$6.50/lb resistance line today and two closes above this level, could signal
more growth, where $6.70/lb would be the next resistance line. The $6.50/lb
line is where nickel peaked last month on the first Indonesia ban run, while
$6.70/lb is where markets peaked in an August 2013 on a dead cat bounce.
Asian markets followed yesterday's US markets lower overnight, and until
recently, European markets looked to follow suit. Having spent 2013 as the
ugly step sister, nickel is getting all the media's attention now, with the
Indonesia ore ban bringing out the speculators and pontificators. At the
moment, with nickel trading above its 20, 50 and 100 day average price, the
short term trend is bullish and based on the last few days trends, traders
appear to be falling over each other jumping on board.. How long the markets
remains euphoric, or even positive, remains to be seen.
Average price of cash nickel so far this month - $6.20/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel Seen
by Macquarie Swinging to Deficit in 2015 on Ore Ban - The global nickel market
may swing into a deficit next year as Indonesia’s ore export ban will
constrain production of nickel pig iron, a lower-grade alternative to refined
metal, said Macquarie Group Ltd. -
more
Deutsche Bank cuts oil, gold, nickel price forecasts for 2014, 2015 - Deutsche
Bank slashed its 2014 and 2015 price forecasts for crude oil, saying it is
now the most richly priced commodity in the world with several downside risks
including an increase in non-OPEC capacity and higher OPEC spare capacity.
-
more
China crude
steel output growth to slow to 3.1 pct in 2014 -CISA - China's annual steel
output growth is expected to slow in 2014 to around 3 percent and reach 810
million tonnes as a result of changes in its economic strategy, the head
of the country's steel association said in comments published late on Monday.
-
more
ThyssenKrupp
Chief Feeling Pressure; Primary Indian Nickel Falls - One can only assume
that Heinrich Hiesinger of Thyssenkrupp AG O.N., is feeling the pressure.
-
more
Mirabela’s board walks - Mirabela Nickel’s chairman Geoff Handley
and fellow board members Colin Steyn and Peter Nicholson have handed in their
resignations over the weekend. -
more
Courtesy AISI
- In the week ending January 11, 2014, domestic raw steel production was
1,830,000 net tons while the capability utilization rate was 76.4 percent.
Production was 1,832,000 net tons in the week ending January 11, 2013, while
the capability utilization then was 76.5 percent. The current week production
represents a 0.1 percent decrease from the same period in the previous year.
Production for the week ending January 11, 2014 is up 0.4 percent from the
previous week ending January 4, 2014 when production was 1,822,000 net tons
and the rate of capability utilization was 76.1percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, January 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.27/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.10/lb
higher, with other
London traded base metals trading mixed and mostly lower. Stockpiles of nickel
stored in LME licensed warehouses fell on Friday and ended the week totalling
just shy of the 261,650 tonne level. Nickel is off session highs but showing
staying power. Traders are once again reacting to the Indonesia ban, which
has actually taken place this time, in the hopes the price of nickel will
show show some staying power this time. Nickel is the bright spot for LME
trading today, with the rest of the metals having a ho-hum day. We show minor
resistance at $6.31/lb, but doubt that holds. Major resistance should be
around $6.50/lb. Your story this week may be the nearly 20 Chinese cargo
ships that are being held by officials in Indonesia ports. All tried to beat
the ban and are loaded with the now-banned ore. Four have been released but
nearly twenty are still being held.
Average price of cash nickel so far this month - $6.18/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China's Baosteel raises Feb prices, the 2nd increase this year -
more
Indonesia
Bans Ore Exports in Push for Metal Smelting - Indonesia’s ban on mineral
ore exports will cut nickel supplies while allowing Freeport-McMoRan Copper
& Gold Inc. to keep exporting copper concentrates. -
more
Indonesia export ban leaves mining in turmoil, nickel prices rally -
more
Indonesia to ban all mineral concentrate exports from 2017 - Indonesia
will ban all exports of mineral concentrate from 2017, providing a few years
for mining firms to build sufficient domestic smelting and refining capacity
to continue operating in the Southeast Asian nation, a mining official said
on Monday. -
more
Indonesia's Antam sees plunge in nickel ore output due to ban -
more
Indonesia's hotly-contested mineral ban takes effect -
more
LME Nickel Gains from Indonesian Export Ban -
more
Will Indonesia's minerals ban hurt its current account? -
more
Philippines
Sees Nickel Boon on Indonesia’s Ban: Southeast Asia - The ban on mineral-ore
exports from Indonesia, the world’s biggest nickel producer, is poised
to benefit neighboring miners in the Philippines, who are predicting an increase
in sales. -
more
Western
Areas Sees Indonesia Ore Export Ban Lifting Nickel Price - Indonesia’s
ban on the export of raw ores will cause nickel prices to rise this year
as regulation limits increases in production of lower-grade nickel pig iron,
Western Areas Ltd. (WSA)’s Managing Director Dan Lougher said. -
more
Japan nickel
users face higher costs, supply hunt after Indonesia ban - Japan, home to
some of the world's biggest stainless steel producers, will face higher costs
and a scramble to find new nickel supply after Indonesia enforced an export
ban on the raw material. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, January 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.13/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.16/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME licensed warehouses rose to its first all time record high of 2014 and
ended the day at 261,906 tonnes. Your author is in his third day of either
a serious head cold, or caught the flu going around, and so, focusing is
a problem this morning. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.17/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) According to data from the China Iron and Steel Association, Chinese
daily crude steel output for 21-31 December 2013 was 1.961 Mt, down from
2.014 in the period 11-20 December. This is the lowest daily output recorded
by CISA since late January 2013.
U.S. Fastener Imports & Exports Both Fall in November -
more
Indonesia
Reported to Detain Chinese Ships as Mineral Ban Looms - Indonesia, the
world’s largest mined-nickel producer, prevented at least 10 Chinese
freighters leaving port as a ban on the export of unprocessed ores approaches,
the 21st Century Business Herald reported. -
more
Indonesia braces for impact of mineral export ban - Indonesia's government
was scrambling to pass last-minute regulations to limit the impact of a
controversial ban that could halt billions of dollars worth of unprocessed
mineral ore exports from Sunday. -
more
Indonesia's ban on raw minerals exports threatens nickel shake-up - An Indonesian
ban on raw minerals exports is set to hurt Chinese factories making stainless
steel - used in everything from kitchenware to cars and buildings - in the
biggest potential industry shake-up in more than five years. -
more
Indonesia's export ban bullet to miss foreign miners as local players hit
- Indonesia's mineral ore export ban, an ambitious policy aimed at getting
more money for its resources, will hit domestic miners who have already begun
shedding jobs and leave foreign firms unscathed. -
more
Over 20 Chinese Bulkers Detained at Indonesian Ports - Over 20 Chinese bulk
carriers have been detained at a number of Indonesian ports, but authorities
have yet to give an explanation of exactly why, Sinoship News reports. -
more
January Price
of Ni SUS Scrap Expected to Increase =Mills' buying motivation gets enhanced
due to recovery in production of stainless steel= The price of nickel-containing
stainless steel scrap (SABOT) to be purchased by Japanese stainless steel
mills in January 2014 is expected to increase by JPY5,000 - JPY7,000 per
ton. -
more
Dominican Republic groups would ‘radicalize’ fight against Xstrata
Nickel mine - The organizations that demand the protection of Loma Miranda
on Thursday warned they’d radicalize their fight if Government officials
and senators continue to halt legislation declaring it a national park. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, January 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.13/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose on Wednesday, and now total just over the
261,250 tonne level. European equity markets are trading higher this morning,
but nickel fell early and has done little since. US Fed tapering talks are
back in the headlines. The Indonesia ban is back on - according to Platts.
The ban is supposed to take place beginning Sunday so by next week, we might
have a better idea of whether there will be a ban or not.
Average price of cash nickel so far this month - $6.19/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MP) China refined nickel imports down 26.63% in November 2013
What types of stainless are safe with food? -
more
LME Trading
Jumped to Record for 2013 Led by 23% Surge in Nickel - The London Metal Exchange,
the biggest metals bourse, had record trading last year, led by a 23 percent
jump in nickel.
- more
Uncertainty
the only certainty with Indonesia mineral export ban: Clyde Russell - The
key point with any laws or regulations is not that they are on the statute
book, it's whether they are applied and enforced, and this will be the case
with Indonesia's ban on metal ore exports. -
more
Indonesia to go ahead with Jan 12 mineral ore export ban: ministry official
- Indonesia's plan to ban the export of mineral ore will continue as proposed
on January 12, 2014, a senior government official said Thursday. -
more
Chinese
bulkers detained at Indonesian ports - More than 20 Chinese bulk carriers
are currently being detained at Indonesian ports as the shipping companies
couldn’t get approval for departure having loaded, and Indonesian
authorities haven’t been able to provide any reasons yet for the delays.
-
more
Vale uncertainty
set to end in 2014 - More than three years of uncertainty about the near-term
future of Vale’s Manitoba Operations are about to end and that in and
of itself is very good news for Thompson residents. -
more
Talvivaara
Press Release - Talvivaara Mining Company Plc has concluded its co-operation
consultations. All personnel groups in Talvivaara and its subsidiaries Talvivaara
Sotkamo Ltd and Talvivaara Exploration Ltd were within the scope of
consultations. Following the consultation process, Talvivaara will gradually
lay off 246 employees for an indefinite period. In the beginning of the
consultations the Company estimated the possible employee impact to be
terminations of employment, lay-offs and/or changes to part-time contracts.
Talvivaara currently has approximately 530 employees. Lay-offs will support
the Company and Talvivaara Sotkamo Ltd’s corporate reorganization and
adjust the number of personnel to the current operating scheme under which
ore production is temporarily discontinued. Bioheap leaching and metals recovery
activities continue in a normal fashion. -
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)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, January 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.15/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME licensed warehouses fell again on Tuesday and now total just over
the 260,600 tonne level. Media is reporting Indonesia will delay the complete
ban on nickel ore exports for another 3 years. This is China's primary source
of the ore used in the production of the so called pig nickel. While stockpiles
of nickel have fallen the last week, they rose to all time record highs for
much of the latter half of 2013, and this extension will do nothing to curb
these record levels. The technical supprt at $6.21/lb has apparently collapsed
and nickel's next support level shows at $5.97/lb.
Average price of cash nickel so far this month - $6.22/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Indonesia
Proposes Allowing Concentrate Exports as Ban Looms - Indonesia’s Energy
and Mineral Resources Ministry is proposing that mining companies be allowed
to continue shipping mineral concentrates for three years, easing concern
that copper exports may be disrupted days before a ban on raw ores take effect.
-
more
Indonesia's mining ministry looks to ease mineral export ban -
more
Merger wouldn't
result in plant closures, mine analysts say - If ongoing Vale and Glencore
Xstrata discussions produce an agreement in 2014 on how to mine nickel and
copper in the Greater Sudbury area more cost-effectively, there might be
some short-term job cuts, but no big plant closures, says a man who runs
a website devoted to mining. -
more
Study for Proposed
Twin Metals Mine Due Mid-2014 - The parent company for the proposed Twin
Metals copper-nickel mine near Ely expects to reach a key milestone in the
coming months. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, January 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.18/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mostly lower and mostly quietly. Stockpiles
if nickel stored in LME licensed warehouses fell on Monday and now total
just over the 260,700 tonne level. European stocks are trading higher this
morning, with US futures pointing higher as well. The Euro is trading higher
for a second day, which is adding some positive momentum to metals trading.
The Indonesia ore export ban begins Sunday but after an initial knee jerk
reaction by traders, the enthusiasm has receded and the price if nickel is
trading at one month lows. Not hearing much about the annual re-weighting
of the Dow Jones AIG Commodity Index, which takes place sometime in the next
few weeks. Per Business Line, rebalancing and re-weighting generally means
an index may reallocate out of commodities that have appreciated in value
and into commodities that have underperformed.
Average price of cash nickel so far this month - $6.25/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
MEPS Predicts
A Better Year For Stainless Steel in 2014 - The prevailing sentiment throughout
the stainless steel supply chain is one of “cautious optimism”
that 2014 will be a little better than 2013, in terms of both business volumes
and profitability. -
more
Indonesia
mineral export ban uncertainty starts to bite - Indonesia's planned mineral
export ban - a policy designed to force miners to process their ores domestically
- is sending shudders through the economy, with a Singapore-owned nickel
miner suspending operations ahead of the Jan. 12 ban. -
more
Singapore's Ibris Nickel stops Indonesia ore mining ahead of export ban -
Singapore's Ibris Nickel said on Tuesday it had temporarily stopped operations
at its 2-million-tonne-per-year nickel mine in Indonesia, amid uncertainty
surrounding a planned ban on unprocessed metal ore exports. -
more
Price of
South African Charge Cr for Japan Settled at Cents 126 =Up by Cents 5.5 from
October - December quarter= The negotiation on the benchmark price of South
African charge chrome meant for Japan for shipments from January to March
in 2014 has been settled at US Cents 126 per lb. -
more
Iron
Ore Exports to China From Port Hedland Increase in December - Iron ore sales
to China from Australia’s Port Hedland climbed in December as the
world’s biggest buyer boosted inventories, undeterred by a temporary
halt in shipments because of a tropical cyclone. -
more
Courtesy AISI
- In the week ending January 4, 2014, domestic raw steel production was 1,822,000
net tons while the capability utilization rate was 76.1 percent. Production
was 1,812,000 net tons in the week ending January 4, 2013, while the capability
utilization then was 74.4 percent. The current week production represents
a 0.6 percent increase from the same period in the previous year. Production
for the week ending January 4, 2014 is up 2.8 percent from the previous week
ending December 28, 2013 when production was 1,733,000 net tons and the rate
of capability utilization was 74.0 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, January 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.31/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.10/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses rose on Friday and now total just over
260,850 tonnes. Nickel has now fallen below its 50 and 100 day moving average,
and has turned bearish. The Dollar closed last week trading at a four week
high against the Euro, which fed the bearish tone. The Euro is trading slightly
higher this morning, but nickel, as all metals except tin, appear to be shrugging
it off. An online survey of China metals experts are forecast the price of
nickel will increase this week, by a margin of 2 to 1. We tend to think they
are being overly optimistic.
Average price of cash nickel so far this month - $6.30/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Price
of S. African Charge Cr Settled for Europe in Jan-Mar, Up by Cents 5.5 -
On December 23, Merafe Resources Limited, South Africa, a joint venture partner
for Xstrata Merafe announced on its home page that the benchmark price of
South African charge chrome meant for Europe to be shipped in January - March
in 2014 has been settled at US Cents 118.0 per lb. This price represents
an increase of US Cents 5.5 versus the prior quarter. -
more
3rd worker
goes to prison for steel thefts - A Ruffsdale man who helped three coworkers
steal $600,000 worth of new stainless steel from their former employer to
sell for scrap will spend up to two years in state prison. -
more
Readers weigh
in on copper-nickel mining - We all use the metals PolyMet would produce
As someone who has worked in the mining industry for 52 years and who recognizes
the value of all mining to our lifestyles in the 20th and 21st centuries,
and having read the summary of the PolyMet Supplemental Draft Environmental
Impact Statement, I would be hypocritical if I did not strongly support the
approval and development of the PolyMet project. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, January 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.43/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses slipped for a second day, and closed just over
the 260,700 tonne level. Nickel was trading higher yesterday until US equity
markets opened lower. Nickel's bull run appears to be in trouble, with support
at $6.21/lb again coming into play. While stockpiles are off all time record
levels for the past few days, Vale announced its New Caledonia mega mine
has reopened after a six week shutdown due to a broken effluent pipe. Stockpiles
rose by over 9,500 tonnes in December alone.
Average price of cash nickel so far this month - $6.31/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Madagascar Ex-Finance Minister Declared Presidential Vote Winner -
more
(China) Vice-minister calls for new economic growth model -
more
(North American
Stainless PR) For the month of January 2014, North American Stainless will
maintain the fuel surcharge at 33% for stainless flat and long products.
The surcharge rate is considered a maximum level for January and will be
reviewed monthly.
(source)
New
Caledonia's Vale reopens nickel plant - The Vale nickel company in New Caledonia
says it has restarted its plant after last November's effluent pipe breakage.
-
more
BHP Billiton
Down to Sell - Analyst Blog - On Jan 1, Zacks Investment Research downgraded
BHP Billiton Limited ( BHP ) to a Zacks Rank #4 (Sell) from a Zacks Rank
#3 (Hold). The downgrade was largely due to the loss of operations at the
Nickel West Leinster Perseverance Underground mine. -
more
Novel Method to Chemically Exfoliate Molybdenum Disulfide Crystals for Printable
Photonics and Electronics - A team of scientists from the National University
of Singapore (NUS) has successfully developed a method to chemically exfoliate
molybdenum disulfide crystals, a class of chalcogenide compounds, into high
quality monolayer flakes, with higher yield and larger flake size than current
methods. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, January 2
Will
be traveling the next two days on business so there may not be an update
on Friday. We apologize for any inconvenience.
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.34/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME approved warehouses slipped on Tuesday and start 2014 with just under
261,500 tonnes recorded. While equity markets appear to be starting 2014
trading on the slide, metals trading is on the upswing. It is possible that
nickel is playing follow the leader with copper today, which is trading at
7 month highs on lower inventories. That is not a fundamental problem that
nickel is seeing, with the market seeing LME licensed warehouses setting
all time record highs on 15 of 19 trading days.
Average price of cash nickel so far this month - n/a
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
LME to
implement warehouse reforms, shed owners restrain rent hikes - The London
Metal Exchange will push ahead with proposed reforms to its warehousing policy,
it said on Monday, and warehouses announced lower average rent increases
than last year in response to the LME's calls for restraint. -
more
Mining Russia
- thousands join the protests - Protests at the proposed mining of nickel
and copper in the heart of Russia's Black Earth belt have been escalating
- as has the smear campaign against the protesters. -
more
So
when engineers were tasked to build a clock that would run for 10,000 years,
what material did they turn too? The answer from the project website "Most
of the clock will be made in a marine grade 316 stainless steel."
(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)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
Reports
Commodity/Economic Comments
Chinese-Backed Nickel Mining Project Draws Concerns in Chin State -
A planned nickel-mining project in the mountains of Burma’s poorest
state is causing concern among locals worried about its environmental impact.
-
Morning Nickel
Price Statistics & Figures
Indonesia's Ore Export Ban Expected to Improve Demand & Supply for Ni
=China's production of Ni is likely to decrease drastically= The world
demand-and-supply balance for nickel has continued to be in a state of excess
supply for more than 3 years, which arose from mass production of nickel
pig iron (NPI) in China. -
Indonesia
sees plunge in nickel ore, bauxite output in 2014 - Indonesian production
of nickel, iron and aluminium ores is expected to plummet in 2014, the mines
ministry said on Wednesday, following a strict government ban on exports
of unprocessed minerals. -
PolyMet Hearings
Draw Big Crowds, Decision Still Long Ways Off - The final of three major
public hearings for Minnesota’s first proposed copper-nickel mine drew
another big crowd in St. Paul, just like previous hearings in Duluth and
Aurora earlier this month. -
BNC smelter
upgrade important short-term focus for Mwana - The most important short-term
focus for Aim-listed Mwana Africa’s Bindura Nickel Corporation (BNC),
in Zimbabwe, was to get the operation’s smelter running once again,
CEO Kalaa Mpinga said on Wednesday. -
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.01/lb
Angry landowners
assault two miners - Two Chinese employees of the RamuNiCo project at the
Kurumbukari mine site were assaulted and wounded by frustrated landowners
last week. -
BHPB's
Production of Ferroalloys and Nickel in Former Half of 2013 = Compared to
production of year-earlier period, Mn ore is flat and Mn alloy is up = On
January 22, BHP Billiton Limited (BHPB) announced its production results
and sales volumes both in the former half of 2013 (July to December) and
in the period from October to December. -
KGHM
International to cut back at Sudbury mine - Company photo Employees at KGHM
International's McCreedy West Mine are waiting to learn their fate after
hearing from company officials last week that as many as 70 of 100 members
of United Steelworkers Local 2020 could be laid off Feb. 16. -
Lead, Zinc,
Nickel to Advance, UBS's Schnider Says - Dominic Schnider, head of commodities
research at UBS AG's wealth-management unit in Singapore, talks about the
outlook for the metals and cocoa markets. He speaks with Rishaad Salamat
on Bloomberg Television's "On the Move." -
SBMA
stops nickel ore unloading following protests - Officials here have stopped
the unloading of soil bearing nickel ore following complaints from environmental
advocates against what they said was the use of this free port as a temporary
storage area for pollutants. -
China
Ferrochrome: Import prices flat amid slowdown ahead of Lunar New Year holidays
- Chinese import prices for ferrochrome and charge chrome were unchanged
this week, as market activities slowed ahead of the Lunar New Year holidays
starting end-January. -
Production
of Stainless Steel Products in November 2013 Is 230,097 Tons =Down by 8%
from prior month, and production of both Ni-type and Cr-type decrease= On
January 20, the Ministry of Economy, Trade and Industry announced the production
volume of stainless steel products (hot-rolled products) in November 2013
was 230,097 tons, which represented a decrease of 7.9% versus the prior month
and an increase of 7.5% versus the year-earlier month. -
Xstrata Nickel bribes lawmakers, journalists, officials: Senator - La Vega
senator Euclides Sanchez on Thursday accused Xstrata Nickel’s Dominican
Republic operation (Falcondo) of bribing lawmakers, journalists, and Government
officials, which he didn’t identify, to mine Loma Miranda (central).
-
(India) Nickel
down 0.5% on global cues - Amid a weak global trend and low domestic demand,
nickel prices declined 0.52% to Rs 907.60 per kg in futures trade today as
speculators trimmed their positions. -
Global steel
output hits new record in 2013, boosted by China - Global steel production
hit a new record high in 2013 helped by strong output performances in China
and other Asian countries which offset a contraction in Europe and the United
States, data from an industry body showed on Thursday. -
Sherritt
says Ambatovy nickel operations reach commercial output - Sherritt International
Corp said on Wednesday its Ambatovy nickel operations in Madagascar had achieved
commercial production. -
ThyssenKrupp
Chief Feeling Pressure; Primary Indian Nickel Falls - One can only assume
that Heinrich Hiesinger of Thyssenkrupp AG O.N., is feeling the pressure.
-
Talvivaara
Press Release - Talvivaara Mining Company Plc has concluded its co-operation
consultations. All personnel groups in Talvivaara and its subsidiaries Talvivaara
Sotkamo Ltd and Talvivaara Exploration Ltd were within the scope of
consultations. Following the consultation process, Talvivaara will gradually
lay off 246 employees for an indefinite period. In the beginning of the
consultations the Company estimated the possible employee impact to be
terminations of employment, lay-offs and/or changes to part-time contracts.
Talvivaara currently has approximately 530 employees. Lay-offs will support
the Company and Talvivaara Sotkamo Ltd’s corporate reorganization and
adjust the number of personnel to the current operating scheme under which
ore production is temporarily discontinued. Bioheap leaching and metals recovery
activities continue in a normal fashion. -
Price
of S. African Charge Cr Settled for Europe in Jan-Mar, Up by Cents 5.5 -
On December 23, Merafe Resources Limited, South Africa, a joint venture partner
for Xstrata Merafe announced on its home page that the benchmark price of
South African charge chrome meant for Europe to be shipped in January - March
in 2014 has been settled at US Cents 118.0 per lb. This price represents
an increase of US Cents 5.5 versus the prior quarter. -
New
Caledonia's Vale reopens nickel plant - The Vale nickel company in New Caledonia
says it has restarted its plant after last November's effluent pipe breakage.
-
Will
be traveling the next two days on business so there may not be an update
on Friday. We apologize for any inconvenience.
higher, with other London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME approved warehouses slipped on Tuesday and start 2014 with just under
261,500 tonnes recorded. While equity markets appear to be starting 2014
trading on the slide, metals trading is on the upswing. It is possible that
nickel is playing follow the leader with copper today, which is trading at
7 month highs on lower inventories. That is not a fundamental problem that
nickel is seeing, with the market seeing LME licensed warehouses setting
all time record highs on 15 of 19 trading days.
Mining Russia
- thousands join the protests - Protests at the proposed mining of nickel
and copper in the heart of Russia's Black Earth belt have been escalating
- as has the smear campaign against the protesters. -
So
when engineers were tasked to build a clock that would run for 10,000 years,
what material did they turn too? The answer from the project website "Most
of the clock will be made in a marine grade 316 stainless steel."
(
