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Thursday, July 31
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $8.62/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses rose to 13th all time record high for July,
ending the month at 315,798 tonnes, a gain of 10,908 tonnes for the month.
We could see the deficit that the analysts have been forecasting start to
show itself over the next few months, although a blurb we found today claiming
stainless steel production in China is up 21% for the first half of 2014,
is a head scratcher. If true, it could make one wonder why we haven't already
seen some signs of this forecasted deficit. Yesterday's sanctions against
Russia were the first announced that were aimed at the Russian economy and
not just powerful Russians. It caught Eramet's attention and they warned
of the implications of any sanction against Norilsk.
Average price of cash nickel so far this month - $8.65/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
An embargo
on Russia's Norilsk Nickel would hurt West -French rival - An embargo against
Norilsk Nickel as part of Western sanctions against Russia would hurt nickel
users in Europe and the United States rather than Norilsk itself, the head
of French mining group Eramet said. -
more
UK appeals
court ruling seen months away in LME warehousing case - The London Metal
Exchange's attempts to cut backlogs at warehouses with new rules are likely
to be delayed again for several months after judges declined to make an immediate
ruling on a case holding up the reforms. -
more
Commission
wants river dumping of mine tailings banned - One of 19 recommendations that
will be put to the government in a report by the Constitutional Law Reform
Commission is the total banning of riverine tailings disposal. -
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, July 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $8.49/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 quietly. Stockpiles of nickel
stored in LME approved warehouses rose again on Tuesday and thus set another
record high, this time at 314,400 tonnes. The third quarter price for ferrochrome
to Europe was settled overnight, and is 2-1/2% lower than the second quarter.
Europe and the US announced further sanctions against Russia yesterday, and
while Norilsk is still not on the list, those targeted included some major
Russian industries.
Average price of cash nickel so far this month - $8.66/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
(SM) ...Baosteel Stainless has announced the domestic price list for August.
According to the company press release, the prices of 304 grade cold rolled
coils for August will see a cut of RMB 1,400 per ton. The company has also
decided to lower the prices of 304 grade hot rolled coils by RMB 1,400 per
ton.
Citic Resources sues Qingdao Port for US$108m compensation -
more
Russia's plans to bail out Mechel suggest ownership change -
more
Glencore-Merafe
settles Q3 Europe benchmark ferrochrome price at 2.5% lower than Q2 -
Glencore-Merafe Chrome Venture and European stainless steelmakers have settled
the term price for July-September ferrochrome sales at 119 cents/lb, down
2.5% from the Q2 price of 122 cents/lb, Merafe Resources said Wednesday.
-
more
ERAMET group's
results for 1st half 2014 - Positive current operating income restored in
1st half 2014, improving on the two previous halves. -
more
Rox soars
on nickel hits - Shares in Rox Resources surged after the company announced
more encouraging drilling results from its Fisher East nickel project 500km
north of Kalgoorlie.-
more
SEIFSA
welcomes the end of NUMSA strike that caused enormous losses to SA metal
industry - The Steel and Engineering Industries Federation of South Africa
(SEIFSA) has welcomed the NUMSA decision to end the month-long strike which
had resulted in enormous losses for the country’s metal industry. -
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, July 29
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $8.52/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 as well. Stockpiles of nickel
stored in LME licensed warehouses rose to yet another all time record high
on Monday, to 312,720 tonnes. Nickel appears to be correcting, with little
fundamental news to guide its movement. The short term trend remains neutral
with the overall trend still positive. Stochastic and RSI readings are sending
no technical signals. While we still feel its highly unlikely to happen,
more sanctions are coming for Russia over the Ukraine situation, and Norilsk
may become a target, not because its a big fish, but because it could become
a lesser of two evils target. Europe appears to be very nervous about announcing
sanctions against a major trading partner and source of oil, and the sanction
it has announced so far have been rather mild. Norilsk could become an industrial
target as more of a signal to Putin, than a real slap on the wrist. Still
too early to tell, but its becoming obvious that Putin is in charge of this
situation nd not even a downed civilian airline and the worldwide reaction,
seems to be changing his course. With Indonesia ore now banned from export,
a Norilsk export ban would be untimely for the market and add positive momentum
for pricing. In the mean time, LME stockpiles continue to break records.
One interesting fact. In July 2013 - stockpiles grew by 15,312 tonnes. In
July 2012, stockpiles grew by 11,562 tonnes. In July 2011, stockpiles fell
by 4,296 tonnes. So far this month, stockpiles of nickel have grown by 7,464
tonnes.
Average price of cash nickel so far this month - $8.67/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) No rising momentum is expected to push up nickel prices for the rest
of July, with resistance expected at $20,500 per tonne during mid-July and
mid-August, Shanghai Metals Market foresees.
Stricter emissions control in China to drive palladium prices higher -
more
El Nino Odds Reduced by Australia as Tropical Pacific Cools -
more
Goldman Sees
Nickel Rising With Palladium to Beat Soy - Nickel and palladium are set to
outperform iron ore and soybeans as supply outlooks for commodities diverge
amid a tentative acceleration in global economic growth, according to Goldman
Sachs Group Inc. -
more
BHPB's
Production of Ferroalloys and Nickel in Apr-Jun 2014 = Productions of nickel
and molybdenum are down from year-earlier period = On July 23, BHP Billiton
Limited (BHPB) announced its production results and sales volumes in the
period from April to June in 2014 as well as the period of 12 months of the
Company's fiscal year (July 2013 - June 2014). -
more
Tube Amnesty
Is Round The Corner (Part 1) - On November 1, 2014 quotas on stainless steel
tubes and pipes into the territory of the Customs Union will expire. -
more
New mining
expo will be Sudbury's biggest yet - A new mining trade show scheduled for
September will be the largest in Sudbury's history. -
more
Courtesy AISI
- In the week ending July 26, 2014, domestic raw steel production was 1,920,000
net tons while the capability utilization rate was 79.8 percent. Production
was 1,852,000 net tons in the week ending July 26, 2013, while the capability
utilization then was 77.3 percent. The current week production represents
a 3.7 percent increase from the same period in the previous year. Production
for the week ending July 26, 2014 is up 1.4 percent from the previous week
ending July 19, 2014 when production was 1,893,000 net tons and the rate
of capability utilization was 78.7 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, July 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $8.70/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.16/lb
lower, with other
London traded base metals trading higher. Stockpiles of nickel stored in
LME approved warehouses fell on Friday and ended the week just over the 311,800
tonne level. We are seeing no real fundamental news that is effecting nickel
trading, unless Indonesia's willingness to discuss the ore ban has spooked
traders. It could be that nickel is playing catch up to Friday's sell off
of the other base metals. Nickel is now trading below the $19,000 tonne level
but it does not appear that the $8.23/lb support level will be tested anytime
soon.
Average price of cash nickel so far this month - $8.68/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
(LGMI) China's iron ore imports fell for a second month by 3.6% to 74.57
million tonnes, as a sharp drop in prices encouraged buyers in the world's
top consumer of the steelmaking raw material to hold off on orders.
Chinese
ferronickel imports more than doubled during H1 of 2014, says Customs data
- As per latest statistics released by the Chinese customs, the country’s
ferronickel imports more than doubled during the initial six-month period
of the year. -
more
Vale
expects no increase - Jakarta-listed nickel miner Vale Indonesia expects
flat growth in its nickel production this year amid uncertainty in the
negotiation of its contracts with the government. -
more
Bindura
smelter fit for PGMs, says Mwana - Kalaa Mpinga, CEO of Mwana Africa, said
the $26m reopening of the company's Bindura base metals smelter in Zimbabwe
could be used to treat platinum group metal (PGM) concentrate. -
more
Steel jobs
have plummeted by a third since 2000 - Northwest Indiana's steel industry,
which once drew immigrants from the world over and put bread on many tables
for generations, has lost a third of its jobs since 2000. -
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
Friday, July 25
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
$8.70/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.09/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel stored in
warehouses monitored by the LME, for the tenth time in the last thirteen
sessions, broke an all time record high at 312,156 tonnes. Nickel closed
twice above minor resistance of $19,000 tonnes, and now has the technical
signal to trade higher. Look for strong resistance just under the $9.00/lb
line. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $8.67/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
El Nino Seen Weak or Delayed for Some Months by Forecasters -
more
Russia scraps
nickel, copper export duties ahead of schedule - The Russian government said
it would cancel export duties for nickel and copper ahead of schedule, as
expected, signalling support for a project by Norilsk Nickel , the world's
largest nickel producer. -
more
Brazil miner
Vale posts record Q2 iron-ore production - Brazilian miner Vale said on Thursday
its iron ore output in the second quarter was a record high for the period,
up 12.6% from a year earlier, as it ramped up production to win back market
share from Australian rivals. -
more
Caterpillar
Sees No Sign of Upturn in Mining Industry - Caterpillar Inc., the largest
maker of mining machinery, forecast full-year sales and earnings that fell
short of analysts’ estimates as it said there’s no sign of an upturn
in the industry in 2014. -
more
New
Caledonian Nickel Mining Company Under Fire At Film Premiere - Indigenous
Kanak people in the Cap Bocage area of New Caledonia have "lived in mud and
s--t for 30 years" as a result of the actions of the Ballande family mining
group, a new environmental documentary film reveals. -
more
Will
new Indonesian president Widodo be able to maintain economic growth? - A
leader with an unprecedented image as a common man has won the presidential
election in Indonesia, a great regional power that plays a leading role in
Southeast Asia. -
more
HSBC releases
base metal pledged for US$30m loan to Zhong Jun Resources - HSBC has released
base metals used as collateral for commodity financing by Zhong Jun Resources,
according to Company Registry documents obtained yesterday.
- more
Morning Nickel
Inventory and 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, July 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $8.63/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.09/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses rose to a new all time record high on Wednesday
and now total 311,964 tonnes. Nine records in the last twelve sessions. China
PMI estimates are higher, and iron ore prices in China are up for the third
consecutive week. This hints that the Chinese steel industry might be showing
some signs of life. If true, this will be good news for nickel producers
as it will add fundamental support to the higher nickel price. For stainless
steel producers and users, the news could mean tough times will get tougher.
There are also clues that the industry is still lagging, and these mostly
come for Chinese prices. Demand typically helps support price increases,
and so far, we are not seeing signs of that happening in China yet. This
is particularly true with stainless steel, with the China stainless steel
market apparently having a hard time passing on the increase in the price
of nickel.
Average price of cash nickel so far this month - $8.68/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
Sherritt International: The Good, the Bad, and the Ugly -
more
China July HSBC flash PMI rises to 18-month high -
more
Why the markets brush off horrific world events -
more
Nickel deficit
narrows as China increases pig iron output - Sumitomo Metal Mining, Japan's
top nickel producer, cut its 2014 forecast for the metal's global deficit
by 43 per cent as China produces more-than-expected volumes of nickel pig
iron, a cheaper alternative. -
more
Metals poll
reveals extent of Indonesian policy shock: Andy Home - The latest quarterly
Reuters poll of base metals analysts was out earlier this week, and it lays
bare the extent to which the entire market was blindsided by Indonesia's
January ban on the export of unprocessed minerals. -
more
Goldman Raises
Nickel Price Forecast as Deficit Looms Amid Ban - Goldman Sachs Group Inc.
raised its price forecast for nickel as the market is swinging to a deficit
next year following an ore-export ban in Indonesia. -
more
New
Indonesian president can bring certainty, consistency to mining: Russell
- The election of reformist Joko "Jokowi" Widodo as Indonesia's new president
has spurred hopes of a rapprochement with global miners and the scaling back
of some of the nationalistic resource policies. -
more
Central
America's biggest nickel mine reopens amid violent clashes - The biggest
nickel mine in Central America has restarted operations amid violent clashes
between indigenous people and security forces, disputes over land ownership,
and ongoing lawsuits for gang-rape and murder. -
more
4 mining
firms suspended over ‘unsystematic’ methods - The Mines and Geosciences
Bureau (MGB) has suspended the nickel mining operations of 4 mining firms
in Central Luzon because of unsystematic methods. -
more
Ramu nickel
mine limps towards full production - The Chinese owned Ramu nickel mine continues
to limp slowly towards full production two years after it opened. -
more
South
Korea's Import & Export Trends of Main Ferroalloys in June 2014 - South
Korea's trade statistics shows the import & export details of main
ferroalloys in June 2014 in the following Tables (1) & (2) respectively.
-
more
Service Center
Shipments Grow in June - Service center shipments of both steel and aluminum
jumped considerably in June in both the United States and Canada, according
to the latest Metals Activity Report from the Metals Service Center Institute,
Rolling Meadows, Ill. -
more
London
Metal Exchange approves BTG's plan to open warehousing operations in Singapore
- The London Metal Exchange (LME) has approved Brazilian investment bank
BTG Pactual's proposal to open warehousing operations in Singapore. -
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, July 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $8.66/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME licensed warehouses fell on Tuesday and now total just over
the 310,700 tonne level. With the news that the new Indonesia president is
willing to sit down with miners and discuss the ore export ban, and Europe
showing little desire to put any major sanctions against Russia in place,
traders are showing little enthusiasm to do much after regaining the $19,000
tonne level yesterday. Patricia Mohr, a vice-president with ScotiaBank, is
reportedly forecasting nickel to average $10.75/lb next year. That is the
average he is forecasting - not the high. Mr Mohr is one of the analysts
we watch closely, and while not always agreeing with them, we do respect
their opinions. The market is trading based on speculation at the moment.
The market is in agreement that the nickel supply and demand parameter will
enter a deficit situation, possibly as soon as next month, as stainless steel
producers begin to stock up on nickel again. How big of a deficit situation
we will enter is the argument and the speculators are trading based on the
more severe case scenario's. That said, the reality of today and the
supply surplus we see in the market, has little to do with what is happening
to the price of nickel. And as long as the market does not have an answer
to how serious the deficit situation will get, the price of nickel will continue
to climb. Trading is based on speculation, and there is plenty of that going
o with nickel these days.
Average price of cash nickel so far this month - $8.68/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) Customs data show that high carbon ferrochrome total imports is 139,900
tons in June, down 30.15% MoM, and up 31.75% compared with the same period
of previous year.
Indonesia's
new president says he will sit down with miners - Indonesia's new president
Joko "Jokowi" Widodo said he wants to sit down with mining companies and
other parties in a bid to resolve a row over mining policies that has halted
$500 million of metal exports a month in Southeast Asia's biggest economy.
-
more
Nickel to
surpass $10 a pound by 2015: analyst - Nickel prices could reach an average
price of US$10.75 per pound by 2015 according to a Scotiabank commodity market
specialist. -
more
Two
Vale New Caledonia guards shot - Two guards at the Vale nickel plant in New
Caledonia's south have been injured after an unidentified gunman shot at
them. -
more
Inquiries
of SUS316 Products Trend Upward from China - As the Chinese Government has
embarked on environmental pollution control measures against PM2.5 and so
on, inquiries for Japanese cold-rolled (CR) stainless steel sheets to SUS316
are increasing. -
more
Nickel
Asia: Tuesday drop caused by confusion over Indonesian report - Nickel Asia
said Tuesday's 6 percent plunge was the result of confusion over a report
on Indonesian metal exports. -
more
China, Cuba
sign cooperation agreements during Xi's visit - China and Cuba on Tuesday
signed an array of 29 cooperation agreements to support the Caribbean country's
development and enhance bilateral ties as President Xi Jinping paid his
first-ever state visit to Cuba. -
more
Group
fears Zambales nickel mining killing marine life - Fishermen in this northern
town of Zambales have expressed fear the rich coastal marine resources that
have sustained them for ages will one day cease to provide livelihood and
life because of pollution from 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 news and information free
of charge.Contact
us
Tuesday, July 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $8.56/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.13/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to another all time record high on Monday,
totaling 311,214 tonnes. Reports from Indonesia say Widodo has won the
presidential election and it was determined before the election took place,
if Governor Widodo won, the nickel ore ban would stay in place. In Europe,
leaders are reportedly working on further sanctions against Russia, with
some believing that Norilsk's ability to export nickel might be affected.
So the news can stoke the speculative fire, but the only real heat from the
news this morning is the eighth all time record high being set in the last
10 sessions of nickel stockpiles held in warehouses monitored by the London
Metal Exchange. This is the slow period for stainless steel production ,
but it implies that nickel production is keeping pace and staying ahead of
nickel demand. The market is betting heavily that will not continue and the
article below about metal ETF's says more about why the price of nickel is
climbing than any other news - in our opinion.
Average price of cash nickel so far this month - $8.69/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
(LL) Korea Line has won a freight contract worth nearly Won307bn (US$301.5m)
to ship nickel ore from New Caledonia to South Korea for 20 years from the
first half of 2016, according to an exchange filing.
(MF) Taiwan’s stainless steel market remains weak due to slack demand
Restriction on right of Potanin’s ex-wife to alimony upheld -
more
Indonesian presidential election tally shows Jakarta governor Widodo wins
53 percent of vote -
more
Metal
ETFs Lure Investors at Fastest Pace in Five Years - Investors are buying
metals from zinc to aluminum at the fastest pace since 2009, betting demand
gains will tighten supply, just as Citigroup Inc. and Macquarie Group Ltd.
predict this year’s rallies will end. -
more
China Nickel
Imports and Exports Data June 2014 - The General Administration of China
Customs released data of China's June imports and exports of nickel on Jul.21
(Unit: mt) -
more
BHP boss
Mackenzie decries Senate ‘antics’ over mining tax - The chief of
resources giant BHP Billiton has urged Labor and the minor parties to help
the Abbott government repeal the mining tax, saying investment is being destroyed
by “a lot of antics” in the Senate. -
more
Australia's
Western Areas leads Australia nickel miners up - Australian nickel miner
Western Areas Ltd jumped to a 26-month high on Tuesday after reporting
better-than-expected output of the metal, whose price soared this year following
an Indonesian ban on ore exports. -
more
China to
shut outdated copper, steel, ferroalloy capacity by end Sep: MIIT - China
will shut 725,600 mt/year of outdated copper smelting capacity, including
recycled copper capacity, before the end of September, the country's Ministry
of Industry and Information Technology said on its website Friday. -
more
LME Dealers
Fined $23,480 for Standing Up During Trading - The London Metal Exchange,
founded more than a century ago, fined almost all of the dealers buying and
selling copper on its open-outcry floor a total of 13,750 pounds ($23,480)
and suspended one for standing up during a trading session. -
more
Courtesy AISI
- In the week ending July 19, 2014, domestic raw steel production was 1,893,000
net tons while the capability utilization rate was 78.7 percent. Production
was 1,852,000 net tons in the week ending July 19, 2013, while the capability
utilization then was 77.3 percent. The current week production represents
a 2.2 percent increase from the same period in the previous year. Production
for the week ending July 19, 2014 is down 0.5 percent from the previous week
ending July 12, 2014 when production was 1,903,000 net tons and the rate
of capability utilization was 79.1 percent.
Anti-mining campaign doco debuts at NZ Film Festival - Playing at this years
New Zealand International Film Festival, Cap Bocage is a close-up exploration
of the forces that came into play when environmental issues and indigenous
rights became intertwined in New Caledonia, and a telling picture …
-
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, July 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $8.47/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses slipped off its record high on Friday and ended
the week just over the 311,050 tonne level. Chinese media is reporting nickel
ore stockpiles stored at major ports in that country slipped from 23.02 million
tons on July 11th, to 22.99 million tons on July 18th. During that same period,
stockpiles of nickel held in LME warehouses rose by 3,354 tonnes. Metals
trading markets were rocked Friday on news of the downing of Malaysian MH17,
but appear to be removing some of their losses today. Nickel traders may
be betting that more Russian sanctions expected from Europe this week might
include Norilsk and the export of nickel. We still seriously doubt this will
happen, and wonder if the nearly 300 crew and passengers that died in this
violent act, will do more to end the war in Ukraine than any sanctions were,
or will accomplish. Putin appeared to be in control of the Ukranian
situation until that missile was fired; now he has a stunned and angry world
to contend with. Indonesia is shipping some ore again, but nickel is not
on the list.
Average price of cash nickel so far this month - $8.70/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 iron ore, steel extend losses to hit 1-month lows -
more
(CFI) U.S. fastener imports of iron and steel fasteners (HTS Code: 7318)
increased 3% month-to month to $418,063,782 in May and exports jumped 6%
to $336,103,799.
Antam,
Direct Nickel Seek Financing for $1b Nickel Project in Halmahera - State
mining company Aneka Tambang, or Antam, and Australian miner Direct Nickel
seek financing for a project worth as much as $1 billion for mining nickel
laterite deposits and setting up processing plants in Halmahera, North Maluku.
-
more
Antam-DNi’s nickel processing plant worth $1b -
more
Poseidon
reveals plans for Black Swan - Nickel miner Poseidon Nickel on Monday revealed
plans to pre-start engineering activities at its recently acquired Black
Swan nickel plant. -
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
Friday, July 18
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
$8.75/lb. Indicators at
6:30 am CST today show 3 month nickel trading around $.23/lb
lower, with most
London traded base metals trading lower as well. Stockpiles of nickel broke
another record overnight, and now total 311,088 tonnes. Nickel is down sharply
this morning, but we feel this has more to do with macro economic news than
any fundamental. Yes, inventories continue to break record highs, but as
we showed yesterday, the gains made this month have yet to match the pace
of last July. Conflicts in Israel and Ukraine and their potential to spread
have made traders nervous. The downing of a civilian airliner in Ukraine
is an especially shocking development, and if the missile that reportedly
downed the airliner proves to have come from Russian backed rebels, the newest
sanctions announced earlier this week, could spread quickly. Stock markets
around the world ended, or are trading lower on the downed airliner news
and metals, and nickel in particular, has been caught up in the rush for
the exit door. Have a relaxing and safe weekend.
Average price of cash nickel so far this month - $8.72/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
Glencore’s Woman Director Marks Mining Industry Progress - Mining companies,
long laggards in appointing women to their boards, are starting to catch
up under pressure from corporate governance groups and activist shareholders.
-
more
Anglo
American releases quarterly production report - Anglo American Plc has released
a production report for the quarter ended 30 June 2014. -
more
Populist
Palmer out-manoeuvres the Coalition - Rebooting the budget debate by engaging
in detailed analysis might be best way to deal with the Palmer problem -
more
International Ferro Metals Production Up, Warns On Costs - International
Ferro Metals Thursday said its ferrochrome production increased in its fourth
quarter giving it record full-year production, but it warned on costs after
it failed to receive a UG2 chrome supply during the period. -
more
Russian
stocks drop as Putin hints at sanctions revenge - Russian stocks and the
ruble came under sharp pressure on Thursday, after the U.S. revealed fresh
sanctions against the country over its failure to end the fighting in Ukraine,
and as analysts fretted about increasing tension between the two nations.
-
more
Morning Nickel
Inventory and 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, July 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $8.72/lb
. Indicators
at 6:40 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 licensed warehouses continue to shatter records, with yesterday's
over 2300 tonne gain taking the total inventory number to 310,782 tonnes.
All time record high totals have been set during six of the last seven sessions.
Stockpiles numbers typically grow in July because of the worldwide seasonal
slowdown in stainless steel production. Last year, stockpiles grew 15,312
tonnes during the month of July 2013. With a little over half of July 2014
in the history books, stockpiles have grown by 5,526 tonnes. Looks like the
resourceful Chinese are trying to figure how how to get around the Indonesia
nickel ore ban by re-defining the low grade rock as iron ore. Considering
less than a decade ago this rock was so low grade it was more likely to be
called junk and discarded, we find this approach humorous and imaginative.
Those who bet against the Chinese will eventually fail. Keep in mind the
whole concept of 'pig nickel' wasn't even a factor in the industry until
the Chinese made it a major factor.
Average price of cash nickel so far this month - $8.73/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) Michelmore also watered down speculation it was circling fellow
miner BHP Billiton's Australian nickel assets. BHP has earmarked Nickel West
for sale or spinoff to focus on production of iron ore and other commodities,
triggering speculation MMG was among a handful of mining companies showing
interest. Rather than new acquisitions, MMG's immediate focus was on completing
its $5.85 billion purchase of Peru's Las Bambas copper mining project from
Glencore, Michelmore said. -
source
World's three largest iron ore producers compete for Chinese market -
more
Is nickel
the metal to back in 2014? - Nickel is having a knock-out 2014. While concern
over slowing growth in China has seen sell-offs in base metals including
copper, zinc and lead, the price of nickel has rallied more than 50% since
the start of the year. -
more
China
nickel ore buyers aim to skirt Indonesia ban - sources - Chinese nickel pig
iron producers are aiming to get around an Indonesian ban on nickel ore exports
by buying a shipment of slightly lower grade material and labelling it as
"iron ore", two Chinese industry sources said. -
more
Result
of Demand & Supply for FeCr in Jan-Mar 2014 = Increased production of
specialty steel makes consumption of FeCr increased = The result of demand
and supply for ferro-chrome in the period from January to March in 2014 is
compiled, which shows the consumption (some of them are estimate figures)
of ferro-chrome in the same period is 175,406 tons for high carbon and 12,529
tons for low carbon which represented an increase of 13.4% versus the
year-earlier period and a decrease of 7.2% ditto respectively. -
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, July 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $8.78/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading mostly higher, but quietly as well. Stockpiles
of nickel stored in LME approved warehouses hit another all time record high
on Tuesday, with a reading of 308,418 tonnes. A deadly typhoon is raging
across the Philippines today and will be heading for China next. This will
very likely affect nickel ore shipments over the next few weeks. Session
ending prices have done little over the last few days, but official prices
have increased over the last four sessions. Nickel official cash averaged
$.843/lb last month and $8.73/lb so far this month. That's a nearly $700/tonne
increase. Considering this is the slow period for stainless steel and nickel
stockpiles are at record levels - the bull market looks very entrenched.
Average price of cash nickel so far this month - $8.73/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
Goldman Forecasts
Lower Commodity Prices as Super-Cycle Ends - Commodities from iron ore to
copper and Brent crude will drop over the next five years as global supplies
climb, according to Goldman Sachs Group Inc., which highlighted oil’s
recent losses as a sign of increased output. -
more
Lapland
to host Finland's biggest mine - The Canadian firm First Quantum Minerals
has received permission to expand its nickel mine in Sodankylä, Lapland.
-
more
Zimbabwe:
More Risks Still Remain Despite BNC Turnaround - Bindura Nickel Corporation
last week reported increased revenue of $65,01 million from $1,026 million
recorded in the prior year. -
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, July 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $8.79/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses continue to set records, and did again
yesterday, for the fourth time in the last five trading sessions. The new
all time record high is on the books at 308,322 tonnes. Cancelled warrants
are slowly fading from the high 40 percentile range of March and April and
have registered under the 35% trading the last three sessions.
Average price of cash nickel so far this month - $8.73/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
Asia's ore shipments up 40 pct in 1H - First-half shipments of the country's
largest nickel producer grew by more than a third. -
more
Big name
out of Nickel West race - One of the several buyers reported to be in the
hunt for BHP’s Nickel West has dropped out, according to the AFR’s
‘Street Talk’ column. -
more
What now for BHP Billiton Limited’s Nickel West business? - What: In
what would be considered a blow for BHP Billiton Limited, commodities trading
house Glencore Xstrata has withdrawn itself from the race to acquire the
miner’s Nickel West assets. -
more
Russian’s
stainless steel exports volume dropped twice - From January to May 2014 the
stainless steel export volume in Russia dropped 58,7% to 4380 tons. -
more
Left, Greens
and Norilsk Nickel weigh in on Harjavalta leak - Officials are torn over
whether the waters of the Kokemäki river can be considered safe for
normal use. -
more
China to
end imported steel tax policy - China is to cancel its tax protection policy
for certain types of imported steel, according to the Ministry of Finance,
General Administration of Customs and State Administration of Taxation. -
more
Courtesy AISI
- In the week ending July 12, 2014, domestic raw steel production was 1,903,000
net tons while the capability utilization rate was 79.1 percent. Production
was 1,852,000 net tons in the week ending July 12, 2013, while the capability
utilization then was 77.3 percent. The current week production represents
a 2.8 percent increase from the same period in the previous year. Production
for the week ending July 12, 2014 is up 2.7 percent from the previous week
ending July 5, 2014 when production was 1,853,000 net tons and the rate of
capability utilization was 77.0 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 news and information free
of charge.Contact
us
Monday, July 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $8.79/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses rose to its third all time record high
over the last four trading days, and now total 307,710 tonnes. Chinese media
is reporting stockpiles of nickel ore rose over the last week, from 22.63
million tons on July 4th, to 23.02 million tons July 11th. While Citigroup's
forecast that nickel stockpiles will be depleted quicker than they originally
thought could very well prove true in the future, it's not today. Just curious.
Does anyone know if Citigroup or any of the other metals analysts that make
periodic forecasts have to disclose if the company they represent are invested
in the metal they analysis, or profit directly by its price movement? Citigroup
is listed one the LME web site under "Associate broker clearing members -
category 2". It is understandable to see someone like the CEO of Eramet
forecasting major deficits and making pricing forecasts, because one can
analyse such a prediction in the context of the forecasters direct
benefit. We are just curious if 'brokers' are screened under the same
level of question. And while we claim no expertise in the market, we do
know that LME warehouses have 46,062 tonnes more of nickel today than they
had on the day Indonesia banned nickel ore exports. And Asian stockpiles
are only 2.78 million tons lower (or roughly 10%) than they were on January
1st.
Average price of cash nickel so far this month - $8.74/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 Market
Seen by Citi Depleted Faster Than Expected on Ban - Nickel, the best-performing
base metal this year, will extend its rally as the market is headed for a
bigger deficit than previously forecast in the wake of Indonesia’s ore
export ban, according to Citigroup Inc. -
more
Stainless
Steel Production Reaches 10.2 Million Metric Tons in Quarter 1/2014 - The
International Stainless Steel Forum (ISSF) has released figures for Q1 2014
showing that stainless steel melt shop production increased by 6.8%
year–on–year to 10.2 million metric tons (mmt). Production increased
in all regions. -
more
Australia's
Sirius says in talks to supply raw nickel to smelters - Australian miner
Sirius Resources NL is in late-stage negotiations with a trio of major nickel
smelters to supply up to 26,000 tonnes of nickel concentrate annually, its
managing director said. -
more
Chinese
steelmakers thrive as raw material costs plunge - Mainland steel producers
have seen their profit margins surge to the highest in at least 18 months
on the back of sharply lower raw material prices and robust demand, a trend
expected to continue in coming months, analysts say. -
more
Colombia
coal, nickel contractor says talks with strikers imminent - Contractor Dimantec,
which employees around 3,500 mechanics to service machinery at Colombia's
largest coal mines, said it is planning to meet with union representatives
in a bid to end an unlimited strike that entered a third day on Friday. -
more
Zimbabwe:
Bindura Nickel Resumes Production - Bindura Nickel Corporation last week
revealed that production has resumed profitably with nickel sales of 7,129
tonnes recorded for the year. -
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
Friday, July 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Thursday's trading session
at $8.75/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 quietly. Stockpiles of nickel
stored in LME approved warehouses slipped slightly after two days of record
setting highs and ended Thursday just over the 307,300 tonne level. In Indonesia,
as in Afghanistan, both Presidential candidates are claiming victory, setting
the stage for potential violence. Ukraine isn't getting as much media attention
as it was a few months ago, but fighting there has intensified recently with
government troops attacking rebel strongholds and many a weary eye watching
to see what Russia might use as an excuse to enter the foray. Russia is the
largest producer of nickel in the world and any rumors that Europe or the
US might expand economic sanctions currently in place and include Russian
nickel producers, drives the price of nickel higher. Unless nickel turns
higher today, it will end the week lower for the first time in three weeks,
and it is trading back where it was early last month. LME cash nickel averaged
$8.43/ln last month and is running at $8.74/lb so fat this month. Have a
relaxing and safe weekend.
Average price of cash nickel so far this month - $8.74/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 Baoshan Iron and Steel (Baosteel) said on Friday it will
keep its major product prices for August delivery unchanged from July.
Retailers watch West Coast ports labor talks, shift goods to other ports
- more
Japanese
Mills Keep Austenitic Stainless Sheet Prices at $3,100-3,200 CFR Level -
As the Asian austenitic stainless steel mills reduced their domestic prices
for July shipment, bid prices of customers in the Southeast Asian region
are falling to $3,000 CFR or so. -
more
Tin Losing
to Nickel on Indonesia Ban: Chart of the Day - Tin, in shortage for at least
the past four years, is set to become cheaper than oversupplied nickel for
the first time since 2010 after Indonesia banned unrefined ore exports, according
to Xconnect Trading Ltd. -
more
Lapland
to host Finland’s biggest mine - The Kevitsa mine in Sodankylä
is to become Finland’s largest mine after it was granted permission
to expand. -
more
Labor dispute
shuts L.A., Long Beach ports - Nearly 1,000 dockworkers briefly walked off
their jobs Tuesday at the massive ports of Los Angeles and Long Beach, disrupting
the movement of international cargo before a mediator ordered them back.
-
more
Zimbabwe:
Bindura in Re-Birth! - Bindura Nickel Corporation's long road to recovery,
which included five difficult years under care and maintenance, culminated
in a strong return to profitability, thanks in part to the firming international
nickel prices. -
more
Jobs
go as mining boom goes bust - After 25 years working around the world as
a highly paid geologist earning a six-digit salary, Phil Scheimer is back
in Australia weighing up his future prospects: day labourer or pizza delivery
man. -
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, July 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $8.80/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.14/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses rose to another record high for a second consecutive
session and now totals 307,410 tonnes. A well known metals site has an article
titled "Chinese nickel prices rebound, oversupply looms" on its site this
morning. Oversupply? Just a reminder to our readers. On January 12th, when
the Indonesia nickel ore ban began, LME stockpiles stood at 261,906 tonnes.
Now, six months into the ban, stockpiles have increased by 45,504 tonnes,
or 17%. The LME official cash price closed January 10th at $6.20/lb and yesterday
at $8.85/lb. Speculation is alive and well.
Average price of cash nickel so far this month - $8.76/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
(SG) Morgan Stanley raised its 2014 forecast for nickel prices higher by
13% to USD 17640 per tonne ($8.00/b).
Interview
with Mr. Buffet, Chairman of ERAMET, France in Tokyo = Capital expenditure
in 2014 is to be reduced to EUR400 million = Mr. Patrick Buffet, Chairman
and Chief Executive Officer (CEO) of ERAMET, France who visited Japan had
a press interview at Hotel Okura located in Minato-Ward, Tokyo on July 4,
and announced the Company's activity in 2013 and its future forecast as follows.
-
more
Indonesia
ore ban to remain should Widodo win poll, ANZ says - Indonesia’s ban
on ore exports will probably remain in place and speculation that the curb
may be relaxed if Joko Widodo becomes the country’s next president is
misplaced, said Australia & New Zealand Banking Group Ltd -
more
Mwana
Africa bounces back with $50.6m profit - Pan African resources company Mwana
Africa posted a net profit of $50.6 million in the financial year to March
31, 2014 after the reversal of $28 million impairment at Bindura Nickel
Corporation. -
more
Harjavalta
nickel leak biggest on record - The nickel leak from a factory in Harjavalta
is now the biggest ever recorded in Finland. -
more
Mount
Lyell mine closure: Tasmanian Government sets up taskforce as mine workers
made redundant - An economic taskforce has been set up to help Tasmania's
struggling west coast after hundreds of workers lost their jobs in the closure
of the Mount Lyell copper mine. -
more
Cherished Redwood
Region Threatened by Nickel Mines - Hidden from the usual tourist circuit,
two streams of southwestern Oregon tumble down from the Siskiyou Mountains
through wild canyons embossed with pines and boulder fields. -
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, July 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $8.95/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
licensed warehouses reached a new all time record high yesterday and ended
the day at 306,828 tonnes. The short term trend for nickel has turned bullish
again, with the $9/lb range now offering psychological resistance, and
apparently, a goal for traders. Technically driven, this most recent bullish
charge appears to have legs, especially if traders can break past the $9/lb
level. On the other hand, we still see signs that teh technically driven
run is going against fundamental factors, such as record setting inventory
levels of nickel seven months after 'the sky supposedly fell'. And while
we have little doubt that Indonesia's ban of nickel ore will eventually affect
worlwide stockpiles, that that time is 'not yet'.
Average price of cash nickel so far this month - $8.75/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
Laif Meidell: Nickel still worth a pretty penny -
more
Citic Resources sues for return of metals stored at Qingdao port -
more
Fastener Prices Head Up on Increased Demand and Steel Hikes -
more
Price
Negotiation on S. African Charge Chrome for Jul- Sept Still Going on =
Negotiation continues into July with difference in way of thinking between
producer and customer = The negotiation on the benchmark price of South African
charge chrome for the period from July to September which was going on in
Japan and Europe could not come to a conclusion by the end of June. -
more
Need to cut
duty on imports of nickel, scrap for steel - The name stainless creates the
impression of a superior and exclusive member in the family of steel. -
more
Groups oppose
proposed mining in Smith watershed - Conservation organizations are attempting
to derail proposed exploratory drilling that they fear could lead to a nickel
strip mining operation in a remote corner of southeast Curry County that
has been proposed for federal wilderness protection. -
more
Zimbabwe:
U.S. Firm Finalises Plans for Nickel Mine - United States-based Raptor Resources
Holdings has finalised its plan to develop its green field nickel and copper
mineral claims in Shamva, the company confirmed yesterday. -
more
Explainer:
The Clive Palmer and Citic dispute - The acrimonious and escalating war between
Clive Palmer and Citic centres around massive cost blow-outs and disputed
royalty payments at the Sino Iron project in Western Australia. -
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, July 8
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
$8.77/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME licensed warehouses fell on Monday and now total just under
the 305,300 tonne level. Indonesia will hold its Presidential elections tomorrow,
but no one really expects any change in their policy toward the nickel export
ban that began on January 12th, regardless of who wins. We are getting mixed
signals on stainless steel prices in China. One index we monitor shows prices
dropping this week, while the other shows a slight gain. Ours shows a slight
increase as well. A question to consider in regards to Eramet's press conference
last week. In it we heard from Bertrand Madelin, CEO of Eramet Nickel, that
nickel will remain in surplus this year, but Eramet is forecasting serious
deficits in coming years. If this is true, why are Norilsk and BHP unloading
their Australian nickel operations? Norilsk and BHP are leaders in the production
of nickel and if they are losing faith in the long term outlook for nickel,
why are traders panicking? Madelin would like nickel to trade in the $10-$12/lb
range and says he needs to see $10/lb before he can start a new project.
A reminder to those who might be new to the industry. Nickel averaged $4.73/lb
from 2001 thru 2005, and miners were pleased with their financial return
then.
Average price of cash nickel so far this month - $8.74/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
Environmental
authority: Nickel leak threatening southwest river - Environmental authorities
in southwest Finland fear that nickel emissions from a local mine may be
endangering marine life in the Kokemäki River. -
more
Prevailing
Price Level of Ni SUS Scrap in July JPY180,000/Ton = Due to drop in Ni price
and 3 stainless steel mills' production curtailment in summer season = Many
of stainless steel mills submit their purchase price of nickel-containing
stainless steel scrap (SABOT) as July delivery at JPY180,000 per ton (delivered
at factory). -
more
Universal Stainless
Promotes Christopher Zimmer to Executive Vice President and Chief Commercial
Officer - Universal Stainless & Alloy Products, Inc. announced today
that Christopher M. Zimmer has been named Executive Vice President and Chief
Commercial Officer of the Company. -
more
Independence
up on output data - Shares in Independence Group moved higher after the
multi-commodity miner announced better than expected production across its
operations. -
more
Black
Swan nickel project sale a lucky break for Poseidon - Poseidon Nickel, a
junior mining company backed by Andrew “Twiggy” Forrest, will purchase
the Black Swan project from Russian powerhouse Norilsk Nickel. -
more
Courtesy AISI
- In the week ending July 5, 2014, domestic raw steel production was 1,853,000
net tons while the capability utilization rate was 77.0 percent. Production
was 1,844,000 net tons in the week ending July 5, 2013, while the capability
utilization then was 77.0 percent. The current week production represents
a 0.5 percent increase from the same period in the previous year. Production
for the week ending July 5, 2014 is down 0.5 percent from the previous week
ending June 28, 2014 when production was 1,863,000 net tons and the rate
of capability utilization was 77.5 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, July 7
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
$8.79/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME licensed warehouses rose on Friday, replacing the prior two days of
withdrawals to the tonne, now totaling just under the 305,400 tonne level
and exactly where we were last Tuesday. Chinese media is reporting stockpiles
of nickel ore stocked a major ports there, fell by 130,000 tons from June
27th to July 4th, from 22.76 million tons to 22.63 million tons. We still
show major resistance at $8.98/lb, which held last week. Initial support
has now moved up to $8.58/lb. Technically the market has turned bullish again,
while LME stockpile numbers are not adding a fundamental signal to buy. The
ending of the ease fire in the Ukraine could cause some nervousness
amongst traders about how Russia will react, and if the West will react with
more economic sanctions should they. The Indonesia presidential elections
will be held on Wednesday but we expect no change in their export policy,
regardless of who wins.
Average price of cash nickel so far this month - $8.73/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
(AM) Japan's stainless steel output up by 13.9% y-o-y in April
(Yieh) It's reported that Tang Eng Iron Works, one of the major stainless
steel producers in Taiwan, announced to cut its domestic prices for 300 series
stainless hot rolled and cold rolled flat products by TWD 4,000 per tonne
to TWD 4,500 per tonne for July, due to weak demand and lower nickel prices.
Trader pledged metals in Qingdao three times for loans, source says -
more
United States Purchasing Managers Index (PMI) -
more
France Eramet
sees global nickel deficit in 2015-2017 on Indonesia ban - France's Eramet
sees a global nickel deficit in 2015-2017 if Indonesia strictly adheres to
its policy of banning exports of unprocessed nickel, Bertrand Madelin, CEO
of Eramet Nickel said Thursday. -
more
BHP has
six bidders looking at Nickel West unit - report - Six potential bidders,
including Dutch commodity trader Trafigura and Hong Kong-listed MMG Ltd,
are looking at the books of BHP Billiton's Australian nickel unit, the Australian
Financial Review reported on Sunday, without saying where it got the information.
-
more
Budget 2014:
Stainless Steel Body for Duty Hike to Check China Imports - Stating that
the share of Chinese stainless steel products has touched about 30 per cent
in the Indian market, the Indian Stainless Steel Development Association
(ISSDA) has demanded doubling the import duty on these to 10 per cent in
the upcoming budget to safeguard interests of the domestic industry. -
more
MMC Norilsk
Nickel To Sell Black Swan / Silver Swan Assets In Western Australia - Nickel
and palladium producer OJSC MMC Norilsk Nickel announced that through its
Australian subsidiaries, MPI Nickel Pty Ltd. and Black Swan Nickel Pty Ltd.,
it has entered into an agreement to sell its Black Swan / Silver Swan assets
located in Western Australia and currently under care and maintenance to
Poseidon Nickel Limited. -
more
DENR
allows Nickel Asia to dispose of stockpiles - Nickel Asia Corp. (NAC) said
that the Department of Environment and Natural Resources (DENR) has allowed
it to dispose of a subsidiary’s nickel ore stockpiles dating from the
1990s in typhoon-hit Guiuan, Eastern Samar. -
more
(Friday)
Nickel Falls From Six-Week High as Supplies Viewed as Sufficient - Nickel
fell from a six-week high in London amid speculation supply of the metal
is ample for now, easing concern about a potential shortage after Indonesia
barred exports of raw ores in January. -
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, July 3
US
markets are closed on Friday to celebrate Independence Day. Our next update
will be on Monday. Have a safe and relaxing weekend.
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
$8.96/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel traded in LME
licensed warehouses fell and now total just under the 304,950 tonne level.
Yesterday we were talking about the $19,000/tonne level appearing to offer
both a support/resistance line. After we posted, the market turned positive
and today the market is trading around the $20,000/tonne level. This is nearly
all technical driven, with mostly positive manufacturing PMI reports from
around the world, and a surprisingly strong ADP employment report from the
US, offering some morale support.
Average price of cash nickel so far this month - $8.60/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) South Korea bought 100 tonnes of nickel for arrival by Oct. 31
via a tender closed on Wednesday, the state-run Public Procurement Service
said on its website
Labrador Iron halts mining on iron ore price drop -
more
Why Nickel
Prices Could Come Under Pressure - Nickel, which was one of the worst performing
metals in 2013 due to oversupply and feeble demand, has recovered remarkably
this year. -
more
Steel industry
troubles persist despite upturn - A total of 26 out of 88 medium and large-sized
iron and steel enterprises are still in red, with the combined loss of 8.93
billion yuan ($1.43 billion) in the first five months of this year, the Economic
Information Daily reported Wednesday, citing data from the China Iron and
Steel Association (CISA). -
more
Canada bans
Palmer's Gladstone Pacific Nickel - Gladstone Pacific Nickel Limited, 95%
owned by Clive Palmer, has been banned by the Toronto Stock Exchange for
failing to adhere to Canadian corporate disclosure laws. -
more
Nickel
Increases As Supplies Dwindle - In the 1980 film, On the Nickel, the main
character is a recovering alcoholic who has emerged from skid row. -
more
Kazakhstan’s Gamble: Go West Or Go Bust – OpEd - How does a country
escape Russia’s economic grip? According to the Moscow Times, Kazakhstan
stepped up efforts to tackle this problem in June, after the government announced
that it will suspend corporate and land tax for 10 years for foreign investors
setting up new businesses. -
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, July 2
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
$8.68/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses rose slightly on Tuesday and now total
just under the 305,400 tonne level. On Monday, the $19,000 tonne level was
a psychological line of resistance. Today, it appears to be offering support
to traders, with nickel slumping to that level and now bouncing back. We
still show a line of strong resistance at $8.97/lb, with major support at
$8.14/lb. But for this week so far, $8.61/lb appears to be offering the market
both.
Average price of cash nickel so far this month - $8.55/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
Govt forecasts climb in Japan crude steel output -
more
Dockworkers' Contract Expires, but Trade Continues -
more
North American
Stainless - For the month of July 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 July and will be reviewed monthly.
China's Baosteel
cuts July ferrochrome price, Jiuquan Steel's unchanged - China's Baosteel
has cut its high carbon ferrochrome (50% Cr) July purchase price by Yuan
50/mt ($8/mt) to Yuan 6,550/mt (equivalent to 80.6 cents/lb), delivered with
17% VAT on cash terms, a company official confirmed Tuesday. -
more
Komatsu CEO
Flags China Slump as Mining Nears Bottom - Komatsu Ltd, the world’s
second biggest maker of building and mining equipment, said sales in China
are falling more steeply than anticipated, joining larger peer Caterpillar
Inc. (CAT) in flagging fraying Asian demand. -
more
Stainless
Crude Steel Production by Major SUS Mills in May 264,709 Tons = Down by 1.3%
from prior month and NSSC, Hikari and Nisshin Steel, Shunan decrease production
= The stainless crude steel production by 6 major stainless steel mills in
May 2014 was 264,709 tons, down by 1.3% from 268,206 tons of the prior month.
-
more
EMB
stops two mining companies from hauling nickel ore in Zambales - The
Environmental Management Bureau (EMB) Region 3 denied the request of two
mining companies to lift the suspension orders keeping them from hauling
nickel ore stockpiles from Zambales, the Alyansa Tigil Mina (ATM) said Wednesday.
-
more
Platts China
Steel Sentiment Index Suggests New Steel Orders Drop in July - The health
of China's steel sector appears to have ebbed slightly, with the industry
largely anticipating a slowdown in new steel orders in July, according to
the latest Platts China Steel Sentiment Index (Platts CSSI), which showed
a reading of 45.90 out of a possible 100 points and marked a six-month low.
-
more
Just-in-time
deliveries spur metals hedging - Mainland manufacturers, pressured by surging
labour costs and the yuan's appreciation in recent years, have been ordering
metal only when it is needed, forcing suppliers to hedge their exposure on
the commodities market, according to zinc and nickel alloys distributor and
maker Lee Kee Holdings.
- more
ANC
‘pushes to tax exports of raw materials’ - The ANC has decided
to introduce measures including export taxes in the next five years to encourage
companies to use local raw materials for domestic manufacturing, according
to a person with knowledge of the matter. -
more
South
Sulawesi Exports Up 23.75 Per Cent In May - South Sulawesi recorded a 23.75
per cent increase in exports to US$154.12 million in May from the previous
month, Indonesia's ANTARA news agency reports. -
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, July 1
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
$8.56/lb
. Indicators
at 6:50 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 Monday to end June at 305,256 tonnes,
just 714 tonnes off the all time record high. The average price of cash nickel
in June was $8.43/lb, down from $8.82/lb in May, but much higher than January's
$6.39/lb. We are entering what is typically the slow period for stainless
steel production, and this usually lasts thru the months of July and August.
We will be watching China closely during this period to see if stockpiles
of ore start to dwindle, as we expect this to happen beginning in September.
There is an opportunity for ports to stock up with nickel ore from the
Philippines, but we will have to see what happens. Trading recently has been
technically driven and we could see that continue thru the month of
July. Without some news to boost the price, we could see nickel drift lower
thru the upcoming month.
Average price of cash nickel so far this month - N/A
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 iron ore mines won't shut fast enough to offset global supply boost:
Russell -
more
Record-breaking magnet crams three tons of force into the size of a golf
ball - more
Some more El Niño-like patterns emerge, but no El Niño yet.
- more
U.S. Fastener Demand to Rise by 4.3% Annually -
more
S.Korea
POSCO says cuts July stainless steel prices on nickel drop - South Korean
steelmaker POSCO said in a statement on Tuesday it has slashed its monthly
stainless steel prices for July by 200,000 Korean won ($200) a tonne to reflect
easing nickel prices, swinging back to price levels from a month earlier.
-
more
Stainless
Steel Prices at Crossroads - MEPS - Global stainless steel prices are going
through a transitional stage. Transaction values in June were pulled in all
directions by a variety of different market forces. -
more
ANC
said to decide on minerals export taxes - The National Executive Committee
is considering implementing export taxes to encourage the use of local materials
in domestic manufacturing. -
more
EU investigates
Chinese stainless steel products in dumping probe - The European Commission
has launched an anti-dumping investigation against cold rolled stainless
steel product imports from China, a move detrimental to Chinese exporters,
experts said on Friday. -
more
Courtesy AISI
- In the week ending June 28, 2014, domestic raw steel production was 1,863,000
net tons while the capability utilization rate was 77.5 percent. Production
was 1,824,000 net tons in the week ending June 28, 2013, while the capability
utilization then was 76.1 percent. The current week production represents
a 2.1 percent increase from the same period in the previous year. Production
for the week ending June 28, 2014 is down 0.9 percent from the previous week
ending June 21, 2014 when production was 1,880,000 net tons and the rate
of capability utilization was 78.2 percent.
Amcu
wants a word on mine closures - Joseph Mathunjwa, president of the Association
of Mineworkers and Construction Union (Amcu), will write a letter to Anglo
American Platinum (Amplats) to enquire about plans to sell off some of its
platinum mines in the Rustenburg area. -
more
Zimbabwe
Wants 2015 FDI to Double as Ownership Law Clarified - Zimbabwe’s investment
authority wants to draw $2 billion in foreign direct investment next year,
doubling from this year’s target, as the government clarifies black
economic-empowerment laws for investors. -
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
"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
6:40 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses rose to 13th all time record high for July,
ending the month at 315,798 tonnes, a gain of 10,908 tonnes for the month.
We could see the deficit that the analysts have been forecasting start to
show itself over the next few months, although a blurb we found today claiming
stainless steel production in China is up 21% for the first half of 2014,
is a head scratcher. If true, it could make one wonder why we haven't already
seen some signs of this forecasted deficit. Yesterday's sanctions against
Russia were the first announced that were aimed at the Russian economy and
not just powerful Russians. It caught Eramet's attention and they warned
of the implications of any sanction against Norilsk.
Reports
Commodity/Economic Comments
An embargo
on Russia's Norilsk Nickel would hurt West -French rival - An embargo against
Norilsk Nickel as part of Western sanctions against Russia would hurt nickel
users in Europe and the United States rather than Norilsk itself, the head
of French mining group Eramet said. -
UK appeals
court ruling seen months away in LME warehousing case - The London Metal
Exchange's attempts to cut backlogs at warehouses with new rules are likely
to be delayed again for several months after judges declined to make an immediate
ruling on a case holding up the reforms. -
Commission
wants river dumping of mine tailings banned - One of 19 recommendations that
will be put to the government in a report by the Constitutional Law Reform
Commission is the total banning of riverine tailings disposal. -
Glencore-Merafe
settles Q3 Europe benchmark ferrochrome price at 2.5% lower than Q2 -
Glencore-Merafe Chrome Venture and European stainless steelmakers have settled
the term price for July-September ferrochrome sales at 119 cents/lb, down
2.5% from the Q2 price of 122 cents/lb, Merafe Resources said Wednesday.
-
Rox soars
on nickel hits - Shares in Rox Resources surged after the company announced
more encouraging drilling results from its Fisher East nickel project 500km
north of Kalgoorlie.-
SEIFSA
welcomes the end of NUMSA strike that caused enormous losses to SA metal
industry - The Steel and Engineering Industries Federation of South Africa
(SEIFSA) has welcomed the NUMSA decision to end the month-long strike which
had resulted in enormous losses for the country’s metal industry. -
Goldman Sees
Nickel Rising With Palladium to Beat Soy - Nickel and palladium are set to
outperform iron ore and soybeans as supply outlooks for commodities diverge
amid a tentative acceleration in global economic growth, according to Goldman
Sachs Group Inc. -
Tube Amnesty
Is Round The Corner (Part 1) - On November 1, 2014 quotas on stainless steel
tubes and pipes into the territory of the Customs Union will expire. -
New mining
expo will be Sudbury's biggest yet - A new mining trade show scheduled for
September will be the largest in Sudbury's history. -
Courtesy AISI
- In the week ending July 26, 2014, domestic raw steel production was 1,920,000
net tons while the capability utilization rate was 79.8 percent. Production
was 1,852,000 net tons in the week ending July 26, 2013, while the capability
utilization then was 77.3 percent. The current week production represents
a 3.7 percent increase from the same period in the previous year. Production
for the week ending July 26, 2014 is up 1.4 percent from the previous week
ending July 19, 2014 when production was 1,893,000 net tons and the rate
of capability utilization was 78.7 percent.
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.16/lb
Chinese
ferronickel imports more than doubled during H1 of 2014, says Customs data
- As per latest statistics released by the Chinese customs, the country’s
ferronickel imports more than doubled during the initial six-month period
of the year. -
Vale
expects no increase - Jakarta-listed nickel miner Vale Indonesia expects
flat growth in its nickel production this year amid uncertainty in the
negotiation of its contracts with the government. -
Bindura
smelter fit for PGMs, says Mwana - Kalaa Mpinga, CEO of Mwana Africa, said
the $26m reopening of the company's Bindura base metals smelter in Zimbabwe
could be used to treat platinum group metal (PGM) concentrate. -
Russia scraps
nickel, copper export duties ahead of schedule - The Russian government said
it would cancel export duties for nickel and copper ahead of schedule, as
expected, signalling support for a project by Norilsk Nickel , the world's
largest nickel producer. -
Brazil miner
Vale posts record Q2 iron-ore production - Brazilian miner Vale said on Thursday
its iron ore output in the second quarter was a record high for the period,
up 12.6% from a year earlier, as it ramped up production to win back market
share from Australian rivals. -
New
Caledonian Nickel Mining Company Under Fire At Film Premiere - Indigenous
Kanak people in the Cap Bocage area of New Caledonia have "lived in mud and
s--t for 30 years" as a result of the actions of the Ballande family mining
group, a new environmental documentary film reveals. -
Central
America's biggest nickel mine reopens amid violent clashes - The biggest
nickel mine in Central America has restarted operations amid violent clashes
between indigenous people and security forces, disputes over land ownership,
and ongoing lawsuits for gang-rape and murder. -
4 mining
firms suspended over ‘unsystematic’ methods - The Mines and Geosciences
Bureau (MGB) has suspended the nickel mining operations of 4 mining firms
in Central Luzon because of unsystematic methods. -
South
Korea's Import & Export Trends of Main Ferroalloys in June 2014 - South
Korea's trade statistics shows the import & export details of main
ferroalloys in June 2014 in the following Tables (1) & (2) respectively.
-
London
Metal Exchange approves BTG's plan to open warehousing operations in Singapore
- The London Metal Exchange (LME) has approved Brazilian investment bank
BTG Pactual's proposal to open warehousing operations in Singapore. -
Inquiries
of SUS316 Products Trend Upward from China - As the Chinese Government has
embarked on environmental pollution control measures against PM2.5 and so
on, inquiries for Japanese cold-rolled (CR) stainless steel sheets to SUS316
are increasing. -
China, Cuba
sign cooperation agreements during Xi's visit - China and Cuba on Tuesday
signed an array of 29 cooperation agreements to support the Caribbean country's
development and enhance bilateral ties as President Xi Jinping paid his
first-ever state visit to Cuba. -
Glencore’s Woman Director Marks Mining Industry Progress - Mining companies,
long laggards in appointing women to their boards, are starting to catch
up under pressure from corporate governance groups and activist shareholders.
-
International Ferro Metals Production Up, Warns On Costs - International
Ferro Metals Thursday said its ferrochrome production increased in its fourth
quarter giving it record full-year production, but it warned on costs after
it failed to receive a UG2 chrome supply during the period. -
Result
of Demand & Supply for FeCr in Jan-Mar 2014 = Increased production of
specialty steel makes consumption of FeCr increased = The result of demand
and supply for ferro-chrome in the period from January to March in 2014 is
compiled, which shows the consumption (some of them are estimate figures)
of ferro-chrome in the same period is 175,406 tons for high carbon and 12,529
tons for low carbon which represented an increase of 13.4% versus the
year-earlier period and a decrease of 7.2% ditto respectively. -
Lapland
to host Finland's biggest mine - The Canadian firm First Quantum Minerals
has received permission to expand its nickel mine in Sodankylä, Lapland.
-
Stainless
Steel Production Reaches 10.2 Million Metric Tons in Quarter 1/2014 - The
International Stainless Steel Forum (ISSF) has released figures for Q1 2014
showing that stainless steel melt shop production increased by 6.8%
year–on–year to 10.2 million metric tons (mmt). Production increased
in all regions. -
Colombia
coal, nickel contractor says talks with strikers imminent - Contractor Dimantec,
which employees around 3,500 mechanics to service machinery at Colombia's
largest coal mines, said it is planning to meet with union representatives
in a bid to end an unlimited strike that entered a third day on Friday. -
Labor dispute
shuts L.A., Long Beach ports - Nearly 1,000 dockworkers briefly walked off
their jobs Tuesday at the massive ports of Los Angeles and Long Beach, disrupting
the movement of international cargo before a mediator ordered them back.
-
Need to cut
duty on imports of nickel, scrap for steel - The name stainless creates the
impression of a superior and exclusive member in the family of steel. -
US
markets are closed on Friday to celebrate Independence Day. Our next update
will be on Monday. Have a safe and relaxing weekend.
Kazakhstan’s Gamble: Go West Or Go Bust – OpEd - How does a country
escape Russia’s economic grip? According to the Moscow Times, Kazakhstan
stepped up efforts to tackle this problem in June, after the government announced
that it will suspend corporate and land tax for 10 years for foreign investors
setting up new businesses. -
