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Wednesday, January 31
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$6.06/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.08/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just over the 357,000 tonne level. After the US Dollar rose prior to President
Trump's first Stat of the Union address, nickel saw some profit taking yesterday,
but the LME did not see the same degree the Shanghai Metal market or India's
MCX saw overnight. Today, nickel prices are in recovery mode as the US Dollar
falls to near four year lows. After we pointed to a pessimistic forecast
yesterday, we link to a more bullish forecast today. Next week will be the
last full week China operates before its annual week long shut down for New
Years holiday festivities. Typically prices are usually quiet during this
period but we suspect this year the market volatility could continue.
Average price of cash nickel so far this month - $5.83/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper climbs more than 1 pct as dollar slips ahead
of Fed statement -
more
Europe Stocks Halt Selloff; Dollar and Oil Fall: Markets Wrap -
more
Tuesday's market review - Nickel sheds recent gains on profit-taking
- Nickel came off two-year highs on Tuesday as investors booked profits from
a rally that was supported by a low dollar and an improving demand and supply
outlook. -
more
China
demand and tight supplies set to sustain nickel price rally - A combination
of surging China imports, tighter supplies and fund interest are expected
to sustain prices of stainless steel ingredient nickel, which have reached
their highest level in more than two years. -
more
Press
Release - For the month of February 2018, North American Stainless will increase
the fuel surcharge to 25% for stainless flat and long products. The surcharge
rate is considered a maximum level for February and will be reviewed monthly.
-
source
Russia's
Nornickel says Q4 nickel output up 11 pct q/q - Russia’s Norilsk Nickel
(Nornickel) said on Wednesday its fourth-quarter consolidated nickel production
increased 11 percent quarter on quarter to 60,032 tonnes. -
more
Vale
diversifies away from iron ore despite strong China demand -CEO - Continued
Chinese efforts to reduce pollution will boost demand for Vale's high quality
iron ore, the Brazilian miner's chief executive said on Tuesday, even as
the world's top iron ore producer seeks to diversify away from the metal.
-
more
Courtesy
AISI - In the week ending on January 27, 2018, domestic raw steel production
was 1,719,000 net tons while the capability utilization rate was 73.8 percent.
Production was 1,736,000 net tons in the week ending January 27, 2017 while
the capability utilization then was 74.5 percent. The current week production
represents a 1.0 percent decrease from the same period in the previous year.
Production for the week ending January 27, 2018 is up 1.5 percent from the
previous week ending January 20, 2018 when production was 1,693,000 net tons
and the rate of capability utilization was 72.6 percent. -
more
Vale
at work on pioneering Canadian cobalt stream deal - sources - Brazilian miner
Vale is seeking to sell un-mined cobalt worth hundreds of millions of dollars
to investors, as speculation rises over a shortage of the metal needed to
make batteries, sources familiar with the matter said. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, January 30
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$6.26/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and started today
just under the 359,300 tonne level. For a moment yesterday, nickel traded
over the $14,000/tonne level, having finally beaten the $13,000 tonne level
last Wednesday. That gives one an idea of just how exuberant the market is
based on little more than speculation. The Euro has risen in the last hour
and has erased all of the last few days losses, and nickel is now trading
off earlier lows. If you want to guess where nickel prices are headed in
the near future, predict the Euro. They seem to be working in concert.
Average price of cash nickel so far this month - $5.81/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Base metals lose ground as dollar firms ahead of
Trump address -
more
Morgan Stanley forecast price of nickel at $5.05/lb for first quarter of
2018, with down side risk.
Stocks Drop as Treasuries Edge Higher; Gold Rises: Markets Wrap -
more
La Niña likely past its peak as Pacific sea surface temperatures warm
- more
Monday's
market review - Supply worries drive zinc to 10 1/2-year high - Zinc prices
surged to the highest since 2007 on Monday as falling stockpiles suggested
tight supplies, while expectations of strong demand pushed nickel to a 2
1/2-year peak after it broke through a key technical level last week. -
more
Nickel prices ‘piggyback’ on dollar weakness, but will it
last? - “The nickel rally has no real trade substance to be honest –
it is all speculative again. One wobble and the whole thing [price rally]
will collapse,” a source said. “Nickel is piggybacking on the dollar
but there is not any real substance in the rally and the concern is it could
fall just as quickly as it climbed,” a trader added. -
more
First
Quantum's nickel output down 24 pct in 2017 - Nickel output by First Quantum
Minerals fell 24 percent to 17,837 tonnes last year from 23,624 tonnes in
2016, the company said in a preliminary production and sales report. -
more
What
South Korea's Buying May Tell Us About the Metals Rally - South Korea’s
buying intentions for metals could tell us something about the price outlook,
if the past 18 months are any guide. -
more
Pan
African eyes nickel and gold assets in Zimbabwe - Pan African Resources is
looking at nickel and gold mining assets in Zimbabwe as the economy shows
signs of opening to investors after decades of deterioration under former
president Robert Mugabe. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, January 29
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$6.19/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.12/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
started the week just over the 360,700 tonne level. Having finally punched
thru the $13,000 tonne level just a few days ago, nickel is eyeing the $14,000
tonne level today. Is this run justified? In our opinion, which means absolutely
squat, no. Besides a disruption in production at Ambatovy in
Madagascar due to a tropical storm a few weeks ago, a disruption due to end
anytime, there really has been no news on the fundamentals side. The US Dollar
is trading lower against the Euro which is giving a positive bump to commodity
trading, but hasn't done much since last Thursday. China stainless steel
prices are higher, reflecting the increase in nickel prices, while iron ore
prices are down since the first of the year. China is preparing to close
for their week long New Year holiday next month, so inventories are running
lean. Technicals remain positive although market is flashing that it is seriously
overbought. Will be an interesting week. Will market continue its bullish
run, fight to hold onto last weeks jump, or will traders bail before they
get caught with a falling knife? Stay tuned.
Average price of cash nickel so far this month - $5.78/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Zinc extends gains on tight market, weaker dollar
-
more
Best-Performing Battery Metal of the Past Year Isn't Cobalt -
more
Treasuries Slide, Dollar Gains as Busy Week Begins: Markets Wrap -
more
Friday's
market review - Zinc at decade high as inventories trend lower - Zinc touched
a fresh a 10-year high on Friday due to a weaker dollar and as inventories
slipped to their lowest levels since 2008, indicating tight supply. -
more
Nickel
May Test Fresh High Before Facing Stiff Resistance - On analysis of the movement
of Nickel futures price, I find the Nickel futures price although, seems
to be facing stiff resistance at the current level, but may test fresh highs
before moving Downward. -
more
Ni
SUS Scrap Price in Kanto in Mid and Late Dec around JPY150,000 = Pick-up
price is up due to increase in Ni price = As of January 22, many of the stainless
steel mills in the Kanto area purchase nickel-containing stainless steel
scrap (SABOT) at around JPY150,000 per ton (delivered at plant). -
more
US Forest
Service rolls back study of mining near Boundary Waters Canoe Area Wilderness
in northeast Minnesota - The U.S. Forest Service on Friday, Jan. 26, said
it will not conduct the most-thorough level of environmental review of potential
copper mining impacts on the Boundary Waters Canoe Area Wilderness in
northeastern Minnesota and will instead conduct a less-stringent study. -
more
Trump administration cancels Boundary Waters study -
more
Finished steel imports grew by 19.5 pct in 2017 YoY - According
to the data released by Pakistan Bureau of Statistics, finished steel imports
into Pakistan have increased by 19.48 pct in 2017 YoY. The total quantity
imported in 2017 was 3.984 mln tons as compared to 3.334 mln tons in 2016.
-
more
Russian
company shells out billions for Arctic environment projects - The Kola Mining
and Metallurgical Company (Kola MMC, a part of Nornickel) invested in
environmental projects in the Murmansk Region 4 billion rubles ($71 million),
Nornickel’s Vice President Elena Bezdenezhnykh said on Friday. -
more
Ferrochrome plant just the boost we need - I was among the fairly large
gathering that attended a recent presentation on the bid to build a ferrochrome
processing plant in Thunder Bay. -
more
Clive
Palmer faces CITIC appeal over $200m royalties windfall - Chinese conglomerate
CITIC has appealed against a court ruling which delivered a royalties windfall
to Clive Palmer in the latest twist in their dispute over Australia's biggest
magnetite mine. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, January 25
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$6.16/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just over the 362,000 tonne level. After spending the last eight sessions
under 30%, cancelled warrants rose back to that level with yesterday's
transactions. As for the price, nickel bulls were finally able to bust thru
both the technical and psychological levels, and it was off to the races.
Nickel is trading at levels last seen in June 2015. Much of the credit
for nickel's increase is the value it has gained from the lower US Dollar.
The Euro is trading at levels it last saw approximately three years ago,
according to currency traders. China steel prices are trading higher again,
as are stainless steel prices. Resistance is at $6.24/lb but when the market
gets overly exuberant, as it appears to be now, resistance levels can be
mute. Stainless steel users can plan on more price increases if today's market
price closes above $5.90/lb. This is our final update for the week, so we
hope each of you has a relaxing and safe weekend and invite you back next
week.
Average price of cash nickel so far this month - $5.73/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Base metals near multi-year peaks on weaker dollar
-
more
Will the Chinese steel market be softer in 2018? -
more
(Vietnam) Ministry to support steel businesses -
more
Tweet - China Dec refined nickel imports up 116.1% y/y at 41,315 tonnes
Tweet - Forecast EV production in 2025 would mean an additional +10-40% of
incremental nickel demand says @UBS
Dollar Under Pressure; Euro Steadies Before ECB: Markets Wrap -
more
Wednesday's market review - Weaker dollar drives copper higher despite
surging inventories - A sharply weaker dollar helped copper to rebound on
Wednesday from a one-month low despite a second day of rapidly rising inventories
that suggested there is plentiful supply of the metal used in power and
construction. -
more
World
crude steel output increases by 5.3% in 2017 - World crude steel production
reached 1,691.2 million tonnes (Mt) for the year 2017, up by 5.3% compared
to 2016. Crude steel production increased in all regions in 2017 except in
the CIS, which has remained stable (subject to current estimates). -
more
China's
base metals import, export in Dec 2017 - Chinese customs released the import
and export data on refined copper, primary aluminum, and other base metals
in December 2017 (unit: mt): -
more
POSCO
Offers Prices of CR Austenitic Stainless Sheets at $2,400 CFR = For the Asian
region = In the Asian region, negotiations on cold-rolled (CR) austenitic
stainless steel sheets have started for shipments of March/April. As the
nickel price was once $5.80 per pound, mills of each country are likely to
have raised their offer prices by $200 or so. -
more
Western Areas Hostage To Nickel Upside - Western Areas increased production
in the December quarter, maintaining steady cash costs amid an improved nickel
price. -
more
Palmer
threatens to freeze PM's assets - Clive Palmer's legal stoush with the prime
minister continues, with the mining magnate threatening to freeze Malcolm
Turnbull's assets as part of ongoing proceedings against 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)
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, January 24
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.83/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.09/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and started today's
session just under the 362,200 tonne level. Having slowly moved up to the
resistance level over the past few sessions, traders have jumped nickel well
above initial resistance this morning, and testing the $13,000 tonne level,
a second line of resistance, albeit psychological. Technical signals remain
positive but it remains to be seen if they are positive enough. No new
fundamental news out there. Cancelled warrants, which in our opinion sometimes
gives us an idea how optimistic the big trading houses are of the future
market, is trading just over the 28% level. This is respectable, but well
below the 37% level we saw back last fall when the bull market was running
loose. Some might say this is caused by the anticipated slow down in China
orders due to their upcoming holiday, and that may have some to do with it,
but the evidence of the past years doesn't supply a lot of evidence for that
being the main reason.
Average price of cash nickel so far this month - $5.72/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper rebounds despite surge in LME inventories
-
more
Japan 2017 crude steel output inches down to 8-year low -
more
IMF Outlook Adds to the Allure of Oil and Metals -
more
Dollar Woes Deepen as Stocks Edge Up; Gold Rises: Markets Wrap -
more
Tuesday's market review - Copper slides to one-month low as inventories
surge - Copper prices fell to their lowest in a month on Tuesday after rising
inventories showed healthy supplies of refined metal. -
more
China
‘tweaks’ nickel import taxes to favour electric vehicles, Wood
Mackenzie says - In mid-December, China made adjustments to import taxes
on some nickel products that favour the production of electric vehicles.
-
more
Western Areas produces strong quarter, not deterred by volatile nickel
market - ASX-listed Western Areas has completed the first half of the year
on track to meet all full-year guidance metrics, the base metals producer
said on Wednesday. -
more
Indonesia central to nickel market in 2018 - Indonesia will play a
central role in nickel market dynamics during 2018 from ore production and
export through to stainless hot-rolled coil sales. -
more
S.
Korea's Import & Export of Main Ferroalloys in Full Year 2017 = Import
is up by 3% from prior year but export is down by 16% ditto = South Korea's
foreign trade statistics shows the import volume of main ferroalloys in the
full year 2017 (January - December) was 1,120,667 tons, up by 2.9% from the
prior year. -
more
Panoramic takes key steps towards Savannah restart - Nickel miner Panoramic
Resources has launched a capital raising for almost $21 million in funding
for the restart of the Savannah operation in the East Kimberley of Western
Australia. -
more
How nickel makes electric vehicles go green - Greater use of nickel
in batteries is increasing the range of electric vehicles, making them more
attractive to consumers whilst providing incentives to recycle, says Mark
Mistry, senior public policy manager of the Nickel Institute -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, January 23
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.78/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and start today's
session just under the 362,900 tonne level. Having tested resistance once
this morning, the market is quietly higher. Allegheny released February
surcharges yesterday. It appears their surcharges on 304 stainless is nearly
as high as it was last January, and the 316 surcharge is at its highest in
nearly 3 years. We have kept track of these surcharges since 2006
(here).Technicals
remain positive, while fundamentals offer little news.
Average price of cash nickel so far this month - $5.72/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper hits one-month low as inventories surge -
more
(SMM) Indonesia earthquake sees no impact on NPI output
Industrial metals bull party on hold; will restart shortly -
more
Superlatives Multiply as Stocks Rally; Oil Climbs: Markets Wrap -
more
Monday's
market review - Copper higher on optimism over demand, supply concerns -
Copper rose on Monday, leading broad gains across base metals as optimism
over the outlook for global growth and supply concerns helped prices recover
some of the previous session’s losses. -
more
London
Metal Exchange stops the volume rot, but CME challenge grows: Andy Home -
Trading volumes on the London Metal Exchange (LME) increased by a marginal
0.5 percent last year. -
more
Inquiries
of CR Sheets from India Rapidly Increase for Mar Shipment - In the export
market of cold-rolled (CR) steel sheets, Indian mills are likely to have
raised their export prices by $20 or so due to a rise in domestic prices
of CR sheets in India. While, China's market prices of CR sheets are on a
downward trend. -
more
Clive
Palmer approved $170m in payments from Queensland Nickel to himself, family,
documents reveal - Clive Palmer retrospectively approved more than $170 million
in payments from Queensland Nickel to himself, family and his corporate interests
during two meetings late last year, which he chaired himself, court documents
have revealed. -
more
Courtesy
AISI - In the week ending on January 20, 2018, domestic raw steel production
was 1,693,000 net tons while the capability utilization rate was 72.6 percent.
Production was 1,736,000 net tons in the week ending January 20, 2017 while
the capability utilization then was 74.5 percent. The current week production
represents a 2.5 percent decrease from the same period in the previous year.
Production for the week ending January 20, 2018 is down 0.8 percent from
the previous week ending January 13, 2018 when production was 1,707,000 net
tons and the rate of capability utilization was 73.2 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, January 22
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.77/lb . Indicators
at 6:15 am CST today show 3 month nickel trading around $.05/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and rose on
Friday and start the week just under the 363,200 tonne level. After floundering
for a few days, nickel bulls got ahold of the market on Thursday afternoon,
and haven't lost their grip yet. $5.85/lb is resistance and if the market
can beat that level, there is an immediate psychological level of resistance
($5.90/lb) that, in our opinion, is far more important to technicals. Technicals
remain positive, although they show the market is in overbought territory.
China steel had a nice spike on Friday, and was quiet today. The China stainless
steel price index we follow slipped slightly again today.
Average price of cash nickel so far this month - $5.71/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper edges higher on demand optimism, supply concerns
-
more
Officials seize stainless steel sinks at North Dakota border -
more
Dollar Slips as Shutdown Drags On; Stocks Mixed: Markets Wrap -
more
Friday's
market review - Supply fears drive zinc and lead to multi-year highs - Falling
stockpiles and pollution alerts in top metals producer China fuelled supply
concerns and helped to drive zinc and lead prices to multi-year highs and
aluminium to a two-week peak on Friday. -
more
Shippers reminded of wet season issues in loading Indonesian nickel
ore - With the wet season in Southeast Asia rolling around again, P&I
clubs have been duly reminding its members of the perennial issues in the
nickel ore trade. -
more
Nickel miner shipments jump 9% on better prices - Listed mining firm
Nickel Asia Corp. (NAC) saidits estimated value of shipments last year rose
by 9 percent to P14.45 billion, from P13.23 billion in 2016. -
more
Why
mine closure matters and why it gets ignored - If you want to clear a room
of miners, there are few better ways than to raise the topic of mine closure.
-
more
Clean energy powering mining recovery - The transition to clean energy
is now here, and it’s giving B.C.’s key mining and minerals sector
a lift. Vancouver has always been a hotbed for exploration, investment and
fundraising in minerals such as gold, silver and copper and a source of global
mining expertise. -
more
Steel
ministry seeks abolition of coking coal import tax - India’s steel ministry
is seeking to remove import tax on coking coal to soften the impact of rising
costs on users of the key steel-making fuel and promote production of the
alloy that’s crucial for Prime Minister Narendra Modi’s plan to
boost domestic manufacturing. -
more
Mining
threatens Minnesota's pristine Boundary Waters - Minnesota is called the
Land of 10,000 Lakes, and every year, hundreds of thousands of people visit
its pristine Boundary Waters Canoe Area Wilderness. -
more
North
Bay backs Timmins' bid for Noront plant - North Bay and Timmins are now united
in the bid to attract a new Ring of Fire ferrochrome facility to the City
of Timmins. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, January 18
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.63/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just over the 362,500 tonne level. Nickel has done little the last few days
and the channel it finds itself trading in puts it back to where we ended
2017 at. Technicals remain positive for the long term, although short term
reaction to the volatility of this week is mixed. The China stainless steel
index dipped again overnight, down another .44%, and down 6.31% from this
time last year. A lot of what is going on in China right now is a combination
of production curtailment in light of pollution crackdown's and yearly shut
downs for the week long New Year holiday festivities. That is still three
weeks away but we typically see a slowdown in the weeks prior. The China
steel index rose on tightening inventory speculation. The Euro has done little
this week, but continues to trade at 3 year highs. This is our final update
for the week, and we wish our readers a safe and relaxing weekend and invite
you back next week.
Average price of cash nickel so far this month - $5.72/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - China metals mixed; upbeat data propels LME copper
-
more
U.S. Hits New Peak in Industrial Production -
more
(SMM) China's crude steel output down 0.3% in Dec
U.S. Treasury Yield Hits 2.6%; Europe Stocks Mixed: Markets Wrap -
more
Wednesday's market review - Copper resumes slide as speculators liquidate
- Copper resumed its decline on Wednesday as some speculators took profits
from a December rally and others went short after prices broke below technical
levels. -
more
Top
China Nickel Producer Joins BHP in Prepping for EV Boom - China’s top
nickel supplier aims to boost output of a material used in car batteries
by 40 percent this year, joining the ranks of global producers ramping up
operations to meet demand from electric vehicles. -
more
China’s top nickel producer to ramp up ahead of EV boom -
more
WMS
Press Release January 2018 - The Nickel market was in deficit during January
to November 2017 with apparent demand exceeding production by 63.6 kt. In
the whole of 2016 the calculated deficit was 68.2 kt. -
more
Steel
ministry seeks abolition of coking coal import tax - Steel ministry seeks
to remove import tax on coking coal to soften the impact of rising costs
on steel-making fuel and promote production of the alloy that’s crucial
for boosting domestic manufacturing -
more
Sudbury
mine deaths could have been avoided: Crown - A decision could come this afternoon
in the Ontario Court of Justice trial looking into a fall of ground at Lockerby
Mine in 2014 that killed two men. -
more
North
Bay sides with Timmins over Sudbury - North Bay is lending its support
to Timmins in its bid for the Noront ferrochrome facility, although some
city politicians are dubious of how much weight it will carry. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, January 17
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.69/lb. Indicators
at 6:15 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Tuesday and now total
just under the 365,000 tonne level. Nickel took a hit yesterday, down around
5% about an hour before we published yesterday's update. It regained some
of its looses later in the day, but is down again this morning. Still not
seeing any 'news' out there that would be spooking traders, and still believe
this is more of a profit taking moment. Support remains at $5.37/lb, while
$5.85/lb is giving technical resistance, and $5.90/lb is psychological
resistance. SMM has published its forecast for the early part of 2018, and
believes nickel prices will remain above $5.44/lb, at least until pig nickel
refineries in China come back on line in mid March. The China stainless steel
price index we follow is down again, down .57% from yesterday. China's steel
index is rising for a second day, and the Euro is trading near three year
highs - both adding positive support.
Average price of cash nickel so far this month - $5.73/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper ticks higher on bargain hunting after sell-off
-
more
Stocks Ease Back as Dollar Edges Higher; Oil Slips: Markets Wrap -
more
Tuesday's market review - Copper hits 3-1/2-week low, nickel slides
more than 5 pct - Base metals slid on Tuesday with copper and nickel hitting
multi-week lows as a steadier dollar weighed, profit-taking set in following
strong gains late last year and worries lingered over fading demand in China
before the Lunar New Year. -
more
Analysis:
Nickel to stay firm before mid-March - The LME nickel price is forecast to
remain above $12,000/mt before mid-March and the SHFE nickel is set to remain
over 93,000 yuan/mt, SMM believes -
more
Canadian
companies want to extract nickel, vanadium, cobalt from petcoke - MGX Minerals
and Highbury Energy have partnered to prepare a detailed process to extract
metals such as nickel, vanadium, and cobalt from petroleum coke. -
more
RNC
set to develop the world’s largest nickel-cobalt project - RNC Minerals,
also known as Royal Nickel Corp., says it is working to secure $1 billion
to develop the world’s largest undeveloped reserves of both nickel and
cobalt at the company’s flagship Dumont Project near Amos, northern
Quebec. -
more
First
Nickel and Taurus Drilling case continues in Sudbury - Final submissions
in the case against First Nickel and Taurus Drilling are underway in Sudbury.
-
more
What
Sportsmen Need to Know About the Boundary Waters Mine - Just before Christmas,
the Department of the Interior reversed an Obama administration decision
and opened the door for a copper-nickel mine near the Boundary Waters Canoe
Area Wilderness in the northeast Arrowhead region of 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 news and information free
of charge.Contact
us
Tuesday, January 16
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.83/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.24/lb
lower. Stockpiles
of nickel stored in LME approved warehouses slipped slightly on Monday and
remain just over the364,200 tonne level. After failing to close above resistance
on two occasions over the past week, nickel was in a free fall this morning.
It has quieted a little recently, getting some support as the slide in the
Euro ends and turns around. If it turns into a rout, look for support at
$5.37/lb. Not finding any reason for the drop except the technical failure
to punch thru resistance with any consistency. Traders appear to be pocketing
some profits before the market takes them away.
Average price of cash nickel so far this month - $5.74/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper hits 3-1/2-week low, nickel slides more than
5 pct -
more
Monday's
market review - Zinc scales 10-year peak as base metals rally - Zinc hit
another 10-year high on Monday as base metals rallied across the board on
the back of a faltering dollar, with expectations that the European Central
Bank may start trimming its stimulus programme lifting the euro to a three-year
peak. -
more
Asian
Market of CR Austenitic Stainless Sheets Starts Calmly - The market of
cold-rolled (CR) austenitic stainless steel sheets in the Asian region has
calmly started. At the end of last year when prices of CR austenitic stainless
sheets were likely to fall, such prices recovered due to a rise in prices
of the LME nickel, and as it is, the market has started after the New Year
holiday. -
more
Import
Volume of SUS Products in November 2017 Is 21,745 Tons = Up by 10% from prior
month because of increased import from all main countries = The import volume
of stainless steel products in November 2017 which was compiled by the Japan
Iron and Steel Federation based on the foreign trade statistics prepared
by the Ministry of Finance was 21,745 tons, up by 10.5% from 19,683 tons
in the prior month. -
more
Remove
import duty on raw materials: Stainless steel industry - Ahead of the budget,
the stainless steel industry has asked the government to remove import duty
on ferro-nickel and stainless steel scrap. -
more
Vale’s Coleman mine remains closed till mid-February - The Coleman
nickel-copper mine near Sudbury, owned by Vale Canada, will remain closed
until the middle of next month. The owner suspended operations on Nov. 13,
2017, due to safety concerns. -
more
RNC
moves toward production decision for Dumont project - RNC Minerals of Toronto
is undertaking work this year so that it can make a production decision on
its Dumont nickel-cobalt project near Amos in 2019. -
more
After
a forgetful 2015, 2016, stars align for nickel - Nickel, widely used for
production of stainless steel, took on more heft in 2017 after a sluggish
run in 2015 and 2016. -
more
RBI
releases draft on hedging of commodity price risk in overseas markets - The
Reserve Bank of India (RBI) Friday released draft norms for Indian companies
to hedge their commodities exposure from fluctuating prices in overseas markets.
-
more
Verdict
expected this week in First Nickel and Taurus Drilling case - A judge is
expected to deliver a verdict this week in the trial against First Nickel
and Taurus Drilling. -
more
Scientists found excitons in nickel oxide for the first time - Russian
scientists from Ural Federal University, together with their colleagues from
Institute of Metal Physics of the Ural Department of Russian Academy of Sciences,
have studied fundamental characteristics of nickel oxide nanocrystals and
found excitons on the light absorption edge for the first time. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, January 15
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.77/lb. Indicators at
6:55 am CST today show 3 month nickel trading around $.12/lb
higher. Stockpiles
of nickel store in LME approved warehouses fell on Thursday and Friday and
start the week just over the 364,200 tonne level. With stockpiles falling,
seeing the cancelled warrants reading fall below the 30% level for the first
time since June of last year is a surprise. The Euro continues to trade higher
against the US Dollar, and currently trading at 3 year highs. This is giving
LME traded base metals a positive boost. Nickel traders appear to be making
another run for the $13,000 tonne level, after falling back to $12,600/tonne
last Thursday. A stainless steel index from China we follow fell .23% last
week, down 6.2% from this time last year. Interesting week ahead and we wish
our readers a good week.
Average price of cash nickel so far this month - $5.73/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Zinc surges to 10-year peak as base metals rally
-
more
Cobalt tax grab will send carmakers on a diversion -
more
November 2017 US Steel Exports Press Release -
more
China's commodities buying spree stalls in Dec amid smog fight -
more
Dollar Slide Deepens as Euro Strength Saps Stocks: Markets Wrap -
more
Friday's
market review - Zinc touches new decade peak on tight market - Zinc prices
edged up to their highest in more than a decade on Friday, supported by potential
shortages and low inventories, but some investors voiced concern about the
lofty levels. -
more
Appeal for safety in New Caledonia mines - New Caledonia's mining industry
has appealed to all institutions to help restore a safe working environment.
-
more
Pro-mining
group strongly supports project near the Boundary Waters - The pro-mining
group ‘Up North Jobs’ is suing to overturn an order by Gov. Mark
Dayton that was considered a setback to the proposed Twin Metals copper-nickel
mine near Ely. -
more
PolyMet approval process is setting a high bar — as it should -
more
Geologists report new promising platinum deposit in Russia's north
- According to geologists, the resources in the studied area are about 525
thousand tons of nickel, 464 thousand tons of copper, 29.5 tons of platinum
and 133.9 tons of palladium -
more
Zimbabwe: Miners Grapple Falling Ore Grades - Zimbabwe's mining industry,
which government has identified as one of the cornerstones of economic growth
and development, is facing an uncertain future as the average grade of mineral
ore is deteriorating. -
more
12
tonnes of nickel nicked in Bridgend - Officers investigating a high-value
metal theft from a Bridgend distribution warehouse are appealing for information.
-
more
N.
Bay to study supporting Timmins ferrochrome bid - North Bay city politicians
will consider throwing their support behind a bid by Timmins for the Noront
ferrochrome production facility. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, January 11
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.87/lb. Indicators at
6:25 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses rose on Wednesday and now total
just under the 368,300 tonne level. Crossing $13,000/tonne yesterday, nickel
hit its highest level since April 2015. Back under we are now trading where
we were back in early November of last year, before nickel took a month long
break from last falls bullish run. We peaked at $5.87/lb twice back then,
so that is where we show resistance. Short term technicals have turned mixed,
but longer term remain positive. The Euro and China steel prices are quiet
today, so neither are adding any momentum to the market, in either direction.
Stockpiles are just under 4,000 tonne shy of where they were this time last
year, and 1500 tonnes ahead of where the year started. This is our last update
for the week, so we wish you a safe and relaxing first full weekend of 2018.
Average price of cash nickel so far this month - $5.71/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Shanghai nickel hits 2-month high on tight stocks,
output concerns -
more
European Stocks Decline; Treasuries Gain With Gold: Markets Wrap -
more
Wednesday review - Nickel pushes through technical levels to 2-1/2
year high - Nickel broke through key technical levels to reach its highest
since 2015 on Wednesday as a sharply weaker dollar helped push dollar-denominated
industrial metals broadly higher by making them cheaper for users of other
currencies. -
more
Madagascar nickel mine halts output due to cyclone - Japan’s Sumitomo
Corp on Thursday said it and partners Sherritt International Corp and Korea
Resources Corp halted output at the Ambatovy nickel mine in Madagascar on
Jan. 4, the day before Cyclone Ava hit the area -
more
The
World's Biggest Miner Is Building a Battery Supply Hub It Doesn't Want -
Electric vehicles could hold the key to BHP Billiton Ltd. finally finding
a buyer for its unwanted nickel operations. -
more
Long-term
nickel outlook buoys chief economist - The Federal Government’s office
of the chief economist has revised up nickel price forecasts and joined the
chorus of voices seeing a jump in future demand for the commodity from the
electric vehicle industry. -
more
Gundlach Sees Commodities Outperforming in Late-Cycle Boom -
more
Philippine nickel ore exports down on bad weather - The decline in
nickel ore shipments to China from the Philippines was mainly due to bad
weather in Tawi-Tawi while the impact of environmental protection issues
in Zambales was rather small. -
more
Regency
Mines increases focus on battery metals - Regency Mines is increasing its
focus on the battery metals sector where it claims there are significant
opportunities. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, January 10
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.76/lb. Indicators at
6:15 am CST today show 3 month nickel trading around $.15/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just under the 365,900 tonne level. Nickel is jumping today, thanks in part
to a stronger Euro, and in part due to speculation based on yesterday's positive
World Bank forecast. The Euro is yet back to where it started Monday, but
its on the rise. The World Bank forecast sees warning signs for future growth,
but do not see them arising this year - thus giving traders room to speculate.
At the moment, nickel is trading above resistance at $5.87/lb, but off an
earlier high of $5.96/lb. $5.90/lb, or $13,000 kt will offer a psychological
level of resistance, which at the moment is holding.
Average price of cash nickel so far this month - $5.69/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper up from 2-week low on weaker dollar, global
growth forecast -
more
China's Baosteel keeps main steel product prices for Feb-March unchanged
-
more
November Steel Shipments Up 10.3 Percent From November 2016 -
more
Stock Rally Tested Amid Rise in Yields; Oil Jumps: Markets Wrap -
more
(Tuesday's review) Tumbling stocks, deficits power zinc's rally to
2007 levels - Zinc prices hit their highest in more than a decade on Tuesday
as investors anticipating another year of shortages and falling inventories
bought the metal used to galvanise steel. -
more
Global
Economy to Edge Up to 3.1 percent in 2018 but Future Potential Growth a Concern
- The World Bank forecasts global economic growth to edge up to 3.1 percent
in 2018 after a much stronger-than-expected 2017, as the recovery in investment,
manufacturing, and trade continues, and as commodity-exporting developing
economies benefit from firming commodity prices. -
more
Ji
Lin Ji En Nickel Industry receives verdict regarding loan contract disputes
- Says it received verdict regarding loan lawsuit filed by Jilin branch of
China Huarong Asset Management Co Ltd again the co and two other firms -
more
Property agents look to refinery reopening to spur economy - A reopening
or sale of the shuttered Yabulu nickel refinery has been flagged as one of
several big developments likely to help spur the economy of Townsville in
2018. -
more
St
George backs up nickel find with more high grades - St George Mining’s
high-grade Cathedrals prospect in W.A continues to deliver, with latest assay
results showing yet more impressive hits of nickel, copper, cobalt and platinum
group elements and extending the area of known mineralisation. -
more
Stainless Steel 304 and 316 – The Differences - Stainless is a
term that was applied to cover a broad range of steel types and grades developed
for oxidation or corrosion resistant applications. -
more
Our View:
PolyMet input needed now more than ever - After more than 10 years of skepticism,
scrutiny, research, and exhaustive environmental review, what more could
possibly be left to discuss and decide regarding the proposed PolyMet
copper-nickel mine in Northeastern Minnesota? -
more
Mining supporters sue Dayton over Twin Metals land access -
more
Stress Corrosion Cracking of Nickel Based Alloys in Water-cooled Nuclear
Reactors - The new report from Energy & Natural Resources Market Reports
has been published today. It provides updated in 2018 year analysis of energy
& natural resources industries. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, January 9
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.68/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Monday and now total
just over the 367,050 tonne level. So far, nickel is entering its third day
of doing a big nothing. Daily technicals remain positive, while hourly have
soured. The Euro is lower again today against teh US Dollar, adding negative
pressure. China steel futures are quiet today, while the price of nickel
on the Shanghai Metal Exchange Market, which typically plays follow the leader
to the LME, jumped over 1% last night. We noticed a tweet yesterday from
DNRR Global who posted a graph showing the expected sales of EV vehicles
in 202 wold require an extra 85,000 tonnes of nickel. The highest level of
nickel stocked in LME warehouses last year was back in January at 389,154
tonnes in August. The year started at 372,066 tonnes, only 6000 more tonnes
than this year started. Unless some major demand other than forecasted EV
increase hits, or production falls off a cliff in the next few years, stockpiles
can cover the increase in demand with years more in reserve.
Average price of cash nickel so far this month - $5.65/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - LME copper gains as U.S. dollar's rise slows -
more
Coal dwarfs battery metals in mining deals despite war on pollution -
more
Finland considers speeding up ban on coal; industry reacts strongly -
more
Europe Stocks Extend Rally; Dollar, Yen Strengthen: Markets Wrap -
more
Copper
hits two-week low, zinc at highest in more than a decade - Copper hit a two-week
low on Monday, weighed down by a stronger dollar and as the market consolidated
following sharp gains in December, while zinc again reached its highest in
more than a decade on supply concerns. -
more
Japan's
Purchase Price of HC FeCr for Jan-Mar Down by US Cents 21 = US Cents 126
per lb, which is due to price cut in Chinese domestic market = Japanese stainless
steel mills have continued negotiation with multiple overseas ferro-chrome
producers to fix the purchase price of high-carbon ferro-chrome for the period
from January to March in 2018 and have this time come to an agreement on
the price to be down by US Cents 21 from the prior period. -
more
Experts hired to review mining operations - The review of the 26 mining
operations ordered shuttered or suspended by former environment chief Regina
Paz Lopez last year will start this month, with 25 experts hired to do it,
the Department of Finance (DOF) said yesterday. -
more
Cars burned in attack on New Caledonia mine - There has been a fresh
spate of vandalism at a New Caledonian mine site on the east coast of the
main island. -
more
Courtesy
AISI - In the week ending on January 6, 2018, domestic raw steel production
was 1,649,000 net tons while the capability utilization rate was 70.7 percent.
Production was 1,736,000 net tons in the week ending January 6, 2017 while
the capability utilization then was 74.5 percent. The current week production
represents a 5.0 percent decrease from the same period in the previous year.
Production for the week ending January 6, 2018 is up 0.7 percent from the
previous week ending December 30, 2017 when production was 1,637,000 net
tons and the rate of capability utilization was 70.2 percent. -
more
Website
launched for Sault’s ferrochrome processing facility project - A website
was launched today by the project team working on a proposal to have Sault
Ste. Marie considered as a potential site to host a ferrochrome processing
facility (FPF). -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, January 8
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.68/lb. Indicators
at 6:25 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel held in LME licensed warehouses jumped sharply on Friday and now
total just over the 368,400 tonne level. Technicals remain positive, although
there is a negative, albeit slight, trendline setting up for trading
so far this year. A China stainless steel index we follow is showing it fell
nearly 1% last week. A similar steel index is off 2-1/2% from the prior week.
The Euro is off slightly against the US Dollar this morning, although it
remains near three year highs. First full week of trading for nickel.
Average price of cash nickel so far this month -
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper consolidates, aluminium falls to near 2-week
low -
more
Mini mining boom as export earnings hit a record $214b -
more
CHARTS: Big mining's surge in value shames tech giants -
more
Stocks Extend Rally Before Earnings; Euro Declines: Markets Wrap -
more
Friday
review - Zinc hits more than 10-year high on deficit worries - Zinc hit its
highest in more than a decade on Friday as concerns over market tightness
persisted, while copper hit a two-week low as Chinese investor interest was
muted with the Lunar New Year holidays looming. -
more
Slowing China demand to curb PH nickel ore exports - Weaker metal demand
from China is expected to affect the local mining industry, which has been
the Mainland’s chief supplier when it came to nickel ore. -
more
FeNi Luppen
may change nickel supply landscape - A similar product to nickel pig iron
(NPI) produced in Indonesia, FeNi Luppen, is set to change the global nickel
supply pattern if Chinese stainless steel mills are receptive, SMM learned.
-
more
Cobalt price bulls' worst fears may just have been confirmed - Cobalt
prices went ballistic in 2017 with the metal quoted on the LME ending the
year at $75,500, a 129% annual surge sparked by intensifying supply fears
and an expected demand spike from battery markets. -
more
Charge
chrome smuggling racket thrives - A racket has been smuggling charge chrome
out of the IDCOL-run ferroalloys plant here. -
more
Miners
in the fast lane on electric vehicle surge - In car factories and showrooms,
and on highways and streets around the world, a quiet revolution is gathering
speed. -
more
Jubilee Metals Says Tailings Spill Occurred at Hernic's Ferrochrome
Mine In South Africa -
more
Commodities: Winners And Losers Of 2017 - The Dow Jones Commodity Index
was up 3.0% for the month and up 4.4% YTD, and the S&P GSCI was up 4.4%
with a YTD return of 5.8%. -
more
How A
Chilean Billionaire Could Poison A Minnesota Wilderness - Trump’s Interior
Department is reinstating two 1966 leases, written before today’s federal
environmental laws, that could allow a Chilean mining company to build a
giant copper-and-nickel mine adjacent to the Boundary Waters wilderness area
in northern Minnesota. -
more
PolyMet is nearly clear to build controversial Iron Range mine -
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 news and information free
of charge.Contact
us
Thursday, January 4
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.62/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.10/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell o Wednesday and now total
just over the 365,900 tonne level. After starting the year with a pair of
negative days, nickel bulls have risen to the challenge and drove nickel
higher this morning. The Euro continues to trade higher against the US Dollar,
adding positive momentum that traders have not been taking advantage of the
last few days. Chinese steel futures are meandering, and off December highs.
Technical indicators are nearly all firmly bullish, with fundamental
indicators quiet. The Baltic Dry Index had its first gainer day since it
peaked out at 1743 on Dec 12th; today reading 1262. This is our final update
for the week and we wish you a safe and relaxing weekend.
Average price of cash nickel so far this month - $5.71/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Zinc hits more than 10-year high on deficit worries
-
more
Stocks Climb on Global Growth Hopes; Dollar Slides: Markets Wrap -
more
Wednesday review - Seasonal demand for car batteries lifts lead to
11-week peak - Lead prices hit an 11-week high on Wednesday as expectations
of seasonally strong demand and the likelihood of shortages over the winter
months spurred investor buying. -
more
North
American Stainless press release - For many years the North American Stainless
Traffic department has worked hard to bring you high service scheduling of
your product at very reasonable prices. Since our last freight rate change
more than five years ago, the freight industry has changed significantly
with new government regulations and operational cost leading to higher freight
expenses. In effort to offer stability in supply NAS has worked the last
couple of years to absorb these increases but the continued rise of rates
now requires NAS to pass a portion of these cost on through a freight rate
increase. Effective January 15th, 2018, North American Stainless will increase
rates an average of 20%. The rate increases will vary depending on shipping
lane/location. -
more
Electric
Cars Charge Up Cobalt -- WSJ - A handful of Canadian miners are ramping up
operations to mine cobalt, betting on demand for a socially responsible source
of the metal that is in high demand as a key component of electric cars.
-
more
Trump
administration renews mining leases near Minnesota wilderness, reversing
Obama - The Trump administration moved Friday to renew leases for a copper
and nickel mining operation on the border of Minnesota’s Boundary Waters
Canoe Area Wilderness, reversing a decision made in the final weeks of Barack
Obama’s tenure in office. -
more
Courtesy
AISI - In the week ending on December 30, 2017, domestic raw steel production
was 1,637,000 net tons while the capability utilization rate was 70.2 percent.
Production was 1,607,000 net tons in the week ending December 30, 2016 while
the capability utilization then was 67.8 percent. The current week production
represents a 1.9 percent increase from the same period in the previous year.
Production for the week ending December 30, 2017 is down 4.7 percent from
the previous week ending December 23, 2017 when production was 1,718,000
net tons and the rate of capability utilization was 73.7 percent. -
source
Dangerous
powder not used in Sudbury mines - The McIntyre Powder Project has obtained
a document that outlines all the mines in Ontario where aluminum dust was
used in an ill-fated attempt to protect workers from developing a lung condition
known as silicosis. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, January 3
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.72/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 Tuesday and now totals
just under the 366,100 tonne level. Nickel peaked at $5.81/lb in early morning
trading yesterday, and has been on a down trend since. The CHina steel index
continues to slowly trend lower, after peaking on Dec 22nd. We show resistance
at $5.81/lb, with support at $5.37/lb. Technical indicators remain bullish.
Second article below covers BMI Research's forecast for nickel to average
$4.54/lb in the coming year.
Average price of cash nickel so far this month - $5.76/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - China metals ease; lead gains as frigid weather
persists -
more
Tuesday
review - Deficits on the horizon drive zinc to 10-year peak - Zinc scaled
10-year peaks on Tuesday as the market focused on looming deficits due to
falling supplies, but gains were capped as prices are at levels which are
likely to encourage investment in new output. -
more
The
global downtrend of nickel is set to continue - Nickel prices are set to
unwind in coming months as fundamentals loosen on the back of increased supply
from Indonesia and subdued demand from China. -
more
Nickel
on the upswing - It looks like 2018 will be a very good year for nickel.
Last month, world metal markets closed for the Christmas break with nickel
on an upswing. The metal reached $5.46/pound U.S., more than $1 U.S. higher
than the average price of $4.43/pound U.S. in the first half of the year.
-
more
After
a rollercoaster ride, commodities show their mettle - After the rollercoaster
ride of recent years, commodity markets enjoyed a strong year in 2017, with
investors and mining companies adjusting to the new normal – and banking
the gains. -
more
This is how much copper, nickel, cobalt an electric vehicle world needs
- Glencore's investor day on Tuesday painted a positive picture not just
of the Swiss miner and commodities trader's business but also had good news
for the mining industry as a whole. -
more
Don't
Mine What's Mine: Boundary Waters Threatened Again - The Boundary Waters
is a special wild-place. An interconnected system of lakes, rivers, smaller
tributaries, and wetlands, spanning over a million acres along the northern
edge of Minnesota, it has been kept pristine thanks to its wilderness
designation. Formally known as the Boundary Waters Canoe Area Wilderness
(BWCAW), it is America’s most visited wilderness. -
more
Tennessee teen’s allergy to braces almost killed her - A teenage girl
who suffered fevers, blisters on her mouth and excruciating pain while chewing
and swallowing stumped doctors for months until it was finally revealed that
her braces were behind her painful symptoms. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, January 2
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.79/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel store din LME licensed warehouses fell to start the week just over
the 366,600 tonne level. For 2017, stockpiles started the year at 372,066
tonnes and ended 5,454 tonnes lower. The most it registered for 2017 was
on August 31st, at 389,154 tonnes, and Friday's close was the low. Thus,
LME stockpiles did a big nothing during the year. Seeing a few reports that
nickel closed 26 to 27% higher for the year. This would apparently be based
on the fact nickel ended 2016 at $4.55/lb and closed at $5.79/lb on the last
day of 2017. That is one way of looking at it, but we would tend to think
the average price of nickel over the entire year would be a little more realistic
and an increase of $4.36/lb to $4.73/lb is much smaller. The average of the
first three moths of 2017 was much smaller at $4.67/lb than the $5.66/lb
of the last three. Either way, it was a good year for nickel producers and
with strong economies in most parts of the world, it was a good year for
stainless steel producers as well.
Average price of cash nickel so far this month - $5.18/lb (December average)
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - LME copper starts 2018 firmer on strong China demand
-
more
European Stocks Slide; Dollar Extends Decline: Markets Wrap -
more
Friday
review - Chile and China to shape copper's fortunes next year - China’s
war on polluting industries, its supply reforms and robust demand growth
have this year combined to create a bonanza for copper and aluminium which
are heading for their biggest rises since 2009. -
more
Base
Metals: Zinc & Lead to outperform peers - TDS - Analysts at TDS expect
that certain metals will outperform their peers, as the respective markets
tighten while scarce inventories along with firm demand precipitate deficits.
-
more
Clear
winners: China's war on smog lifts metals, LNG to multi-year peaks - Industrial
metals, liquefied natural gas and steel are expected to finish 2017 in stunning
fashion as a crackdown on pollution in China, the world’s no.2 economy,
boosts demand for cleaner fossil fuels and raw materials vital to clean-tech
industries. -
more
North
American Stainless press releases - #1 For the month of January 2018, North
American Stainless will maintain the fuel surcharge at 23% for stainless
flat and long products. #2Effective with shipments January 1, 2018, North
American Stainless will make the following price changes: • Cold Rolled
300 series, 200 series, and 400 series increase achieved by reducing the
functional discount 2 points. -
more
Supreme Court rules in favour of Mount Isa Mines and allows removal
of QNI equipment from Port of Townsville - Plans to reopen Yabulu nickel
refinery have struck a snag with Glencore terminating the QNI joint
venture’s Townsville port berth licence and the Supreme Court ruling
the joint venture’s equipment can be removed from the berth. -
more
Copper-nickel mining near the Boundary Waters - Chile´s Antofagasta
Plc will push ahead with permitting for a copper-nickel mine in Minnesota
after the Trump administration overturned an Obama-era decision to protect
the Boundary Waters wilderness area. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(7:00 AM CST is 12 PM in London)
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.08/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just over the 357,000 tonne level. After the US Dollar rose prior to President
Trump's first Stat of the Union address, nickel saw some profit taking yesterday,
but the LME did not see the same degree the Shanghai Metal market or India's
MCX saw overnight. Today, nickel prices are in recovery mode as the US Dollar
falls to near four year lows. After we pointed to a pessimistic forecast
yesterday, we link to a more bullish forecast today. Next week will be the
last full week China operates before its annual week long shut down for New
Years holiday festivities. Typically prices are usually quiet during this
period but we suspect this year the market volatility could continue.
Reports
Commodity/Economic Comments
Tuesday's market review - Nickel sheds recent gains on profit-taking
- Nickel came off two-year highs on Tuesday as investors booked profits from
a rally that was supported by a low dollar and an improving demand and supply
outlook. -
China
demand and tight supplies set to sustain nickel price rally - A combination
of surging China imports, tighter supplies and fund interest are expected
to sustain prices of stainless steel ingredient nickel, which have reached
their highest level in more than two years. -
Press
Release - For the month of February 2018, North American Stainless will increase
the fuel surcharge to 25% for stainless flat and long products. The surcharge
rate is considered a maximum level for February and will be reviewed monthly.
-
Russia's
Nornickel says Q4 nickel output up 11 pct q/q - Russia’s Norilsk Nickel
(Nornickel) said on Wednesday its fourth-quarter consolidated nickel production
increased 11 percent quarter on quarter to 60,032 tonnes. -
Vale
diversifies away from iron ore despite strong China demand -CEO - Continued
Chinese efforts to reduce pollution will boost demand for Vale's high quality
iron ore, the Brazilian miner's chief executive said on Tuesday, even as
the world's top iron ore producer seeks to diversify away from the metal.
-
Courtesy
AISI - In the week ending on January 27, 2018, domestic raw steel production
was 1,719,000 net tons while the capability utilization rate was 73.8 percent.
Production was 1,736,000 net tons in the week ending January 27, 2017 while
the capability utilization then was 74.5 percent. The current week production
represents a 1.0 percent decrease from the same period in the previous year.
Production for the week ending January 27, 2018 is up 1.5 percent from the
previous week ending January 20, 2018 when production was 1,693,000 net tons
and the rate of capability utilization was 72.6 percent. -
Vale
at work on pioneering Canadian cobalt stream deal - sources - Brazilian miner
Vale is seeking to sell un-mined cobalt worth hundreds of millions of dollars
to investors, as speculation rises over a shortage of the metal needed to
make batteries, sources familiar with the matter said. -
Nickel prices ‘piggyback’ on dollar weakness, but will it
last? - “The nickel rally has no real trade substance to be honest –
it is all speculative again. One wobble and the whole thing [price rally]
will collapse,” a source said. “Nickel is piggybacking on the dollar
but there is not any real substance in the rally and the concern is it could
fall just as quickly as it climbed,” a trader added. -
First
Quantum's nickel output down 24 pct in 2017 - Nickel output by First Quantum
Minerals fell 24 percent to 17,837 tonnes last year from 23,624 tonnes in
2016, the company said in a preliminary production and sales report. -
What
South Korea's Buying May Tell Us About the Metals Rally - South Korea’s
buying intentions for metals could tell us something about the price outlook,
if the past 18 months are any guide. -
Pan
African eyes nickel and gold assets in Zimbabwe - Pan African Resources is
looking at nickel and gold mining assets in Zimbabwe as the economy shows
signs of opening to investors after decades of deterioration under former
president Robert Mugabe. -
Ni
SUS Scrap Price in Kanto in Mid and Late Dec around JPY150,000 = Pick-up
price is up due to increase in Ni price = As of January 22, many of the stainless
steel mills in the Kanto area purchase nickel-containing stainless steel
scrap (SABOT) at around JPY150,000 per ton (delivered at plant). -
Finished steel imports grew by 19.5 pct in 2017 YoY - According
to the data released by Pakistan Bureau of Statistics, finished steel imports
into Pakistan have increased by 19.48 pct in 2017 YoY. The total quantity
imported in 2017 was 3.984 mln tons as compared to 3.334 mln tons in 2016.
-
World
crude steel output increases by 5.3% in 2017 - World crude steel production
reached 1,691.2 million tonnes (Mt) for the year 2017, up by 5.3% compared
to 2016. Crude steel production increased in all regions in 2017 except in
the CIS, which has remained stable (subject to current estimates). -
China's
base metals import, export in Dec 2017 - Chinese customs released the import
and export data on refined copper, primary aluminum, and other base metals
in December 2017 (unit: mt): -
Indonesia central to nickel market in 2018 - Indonesia will play a
central role in nickel market dynamics during 2018 from ore production and
export through to stainless hot-rolled coil sales. -
Inquiries
of CR Sheets from India Rapidly Increase for Mar Shipment - In the export
market of cold-rolled (CR) steel sheets, Indian mills are likely to have
raised their export prices by $20 or so due to a rise in domestic prices
of CR sheets in India. While, China's market prices of CR sheets are on a
downward trend. -
Nickel miner shipments jump 9% on better prices - Listed mining firm
Nickel Asia Corp. (NAC) saidits estimated value of shipments last year rose
by 9 percent to P14.45 billion, from P13.23 billion in 2016. -
Appeal for safety in New Caledonia mines - New Caledonia's mining industry
has appealed to all institutions to help restore a safe working environment.
-
Madagascar nickel mine halts output due to cyclone - Japan’s Sumitomo
Corp on Thursday said it and partners Sherritt International Corp and Korea
Resources Corp halted output at the Ambatovy nickel mine in Madagascar on
Jan. 4, the day before Cyclone Ava hit the area -
Regency
Mines increases focus on battery metals - Regency Mines is increasing its
focus on the battery metals sector where it claims there are significant
opportunities. -
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.01/lb
Jubilee Metals Says Tailings Spill Occurred at Hernic's Ferrochrome
Mine In South Africa -
Commodities: Winners And Losers Of 2017 - The Dow Jones Commodity Index
was up 3.0% for the month and up 4.4% YTD, and the S&P GSCI was up 4.4%
with a YTD return of 5.8%. -
