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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

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Thursday, July 27

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.55/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.09/lb higher. Stockpiles of nickel held in LME licensed warehouses rose slightly on Wednesday and now total just under the 376,100 tonne level. For a second consecutive day, nickel closed over the psychologically important $10,000 per tonne level, and having conquered a psychological line of resistance, nickel is off to the races again today. Base metals continue their bullish run, with nickel climbing to levels it last saw three months ago, and copper trading at two year highs. Nickel has traded as high as $5.06/lb in late February, so nickel has room to run before we start talking a new trading high for the year. But the bull has been firmly in place for a month now, and has yet to show signs of weakening, so who can tell. Technical signals are either sending buy signals, or overbought signals, but traders appear to be overlooking any warning signs and are getting some while the getting is good. This is our final update for the week, so we hope each of you has a safe and relaxing weekend and invite you to visit us again next week.
  • Average price of cash nickel so far this month - $4.25/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper buoyed near highest in more than two years - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Earnings in Focus as Stocks Slip; Dollar Steadies: Markets Wrap - more

     Stainless steel maker Aperam 'cautious' about third quarter - Aperam, a stainless and specialty steel producer with an annual production capacity of 2.5 million tonnes in 2016, said on Wednesday that the third quarter holds some challenges. Its shares fell on Thursday. - more

     Electric Cars to Rain Money Over Europe's Largest Nickel Producers - As more and more electric cars are hitting the roads, nickel producers are rubbing their hands. More electric vehicles means increasing demand for nickel, which is widely used in batteries. - more

     Eramet plans more nickel cost cuts, to target lower grades - Eramet pledged further cost cuts after its nickel division suffered more losses in the first half of the year and said it would shift strategy by entering the lower-grade nickel pig iron market via a mining project in Indonesia. - more

     No sign of trouble, ex-owner tells Sudbury trial - Norm Bisaillon was a good worker with a strong head on his shoulders. He did not take risks and knew how to read the rock he mined, deep underground. - more

  • No concerning water issues at First Nickel mine, says former Taurus Drilling owner - more

     Gov’t seeks compromise deal with Russians - Norilsk Nickel has sued the government over a failed deal in which BCL Mine was to buy the Russian company’s 50% stake in the Nkomati Mine. - more

     Low nickel prices a hurdle for new mines - Nickel prices could continue to plumb historically low levels for the foreseeable future, according to a new analysis by BMI Research, as reported by Mining.com, and that trend could complicate the economic prospects for new copper-nickel mining ventures in the region. - more

     S. Korea's Export Details of Main Ferroalloys in Former Half of 2017 - As to the export situation of main ferroalloys in the former half of 2017 (January - June) according to the export statistics of South Korea, the loading port, quantity and amount by item are as shown in the table below. - more

     Glencore lowers 2017 output targets after first half dip - Glencore cut its 2017 output targets on Thursday after changes in what it extracts at some of its mines, rainfall and maintenance hit production in the first half of 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Wednesday, July 26

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.54/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and started today just over the 376.000 tonne level. Nickel closed above the $10,000/tonne level yesterday for the first time since April 10th. Trading price is backed off a little today as traders wonder if technical signals warning of an overbought market, might stifle the bullish run. Nickel hit resistance this morning, when it traded at its 200 day MVA at $4.57/lb, so for now, we see that being the new line of resistance. The Euro hasn't really offered any help to base metals this week, having stalled in trading against the US Dollar, so base metals are bullish on their own this week. Things appear to be picking up in China with the S&P Global Platts China Steel Sentiment Index climbing above 50 for the first time this year and registering a reading of 55.3 for July.
  • Average price of cash nickel so far this month - $4.23/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper hits 2-year high on outlook that China may ban scrap imports - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Nucor CEO says the US is losing a 'trade war' in steel to 'predatory countries like China' - more
  • Stocks Lifted by Earnings, Commodities; Bonds Gain: Markets Wrap - more

     Nickel Prices Supported by Weak Greenback - Nickel prices were trading higher on Tuesday, boosted by dollar weakness as traders await the conclusion of the US Federal Reserves two-day policy setting meeting on Wednesday. - more

     Philippine mining stocks drop as Duterte signals mineral export ban - Shares in Philippine mining companies fell on Tuesday after President Rodrigo Duterte said he was considering a ban on mineral exports to promote development of related downstream industries. - more

     China Early Data Show Resilient Economy - (quote) The S&P Global Platts China Steel Sentiment Index jumped to 55.3 in July, the first time this year it has breached 50, which separates increase and decrease. The gauge is based on a survey of about 75 to 90 China-based market participants including traders and steel mills. - more

     Tsingshan Group Plans to Build Stainless Steel Plant in N. Kalimantan = Production scale is 2Mtpa, and ferroalloy plant also will be built on its property = The local media in Indonesia reports Tsingshan Group, a steel producer in China plans to build a stainless steel plant with an annual production capacity of 2 million tons in Tanah Kuning Industrial Complex in the North Kalimantan (Borneo Island) and make an investment of a total of US$28 billion in the stainless steel plant including a carbon steel plant, a ferroalloy plant and a hydro power plant (Hereinafter, the production capacity is per annum). - more

     Final decision on steel trade policy may have to wait, Trump tells WSJ - A final decision on a steel trade policy may have to wait until other top-priority issues on his agenda get addressed, U.S. President Donald Trump told the Wall Street Journal in an interview on Tuesday.  - more

     Nornickel announces sharp drop in emission from border polluter - “An upgrade of the Company’s concentrator capacities in the Kola Peninsula, replacing outdated roasting plant with a hot briquetting facility, has resulted in the 22,8% reduction of sulphur dioxide emissions at Kola operation in 2016,” Nornickel proudly announces in a press-release about its 2016 sustainable development results. - more

     Louis Kahn's floating concert hall may go to scrap - A stainless steel barge that American architect Louis Kahn designed to host orchestral concerts will be scrapped at a Louisiana shipyard, unless it finds a new owner by the end of the month. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, July 25

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.43/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.36/lb higher. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and now total just over the 375,100 tonne level. Nickel is on fire today,  with the entire base metal complex much higher this morning. For nickel, if this holds, a second day close above resistance will send a strong buy signal to the market, one it apparently is already betting on. Philippine President Duterte sent another shot across the bow yesterday,. warning miners in his country, he would tax them to death if they did not stop harming the Philippine environment. He also stated he wants raw material extracted in his country, to be processed in the country. something along the lines of what indonesia did a few years back, an act that helped turn the Philippines' into China's largest source for nickel ore. Duterte is still apparently licking wounds after the mining industry stopped his first nominee for Environmental Minister from taking the job. It may all be political show, it may be a real threat. We will have to wait and see. US stainless steel surcharges for August are out and slightly higher than July. You can find our updates here. Resistance would move next to $4.47/lb typically, but even that may be in jeopardy of being topped today, as bulls run the tables.
  • Average price of cash nickel so far this month - $4.22/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper rallies to 5-month highs, boosted by China and dollar - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • worldsteel launches steel challenge-12 - more
  • World's Topmost Crude Steel and DRI Producers In June 2017 - more
  • European Stocks Bounce as Dollar Swings Before Fed: Markets Wrap - more

     Duterte warns he'll tax miners to death - Philippine President Rodrigo Duterte says he wants to stop exporting mineral resources and might close the mining sector completely and tax miners "to death" if damage to the environment persisted. - more

  • Duterte warns miners: ‘I will tax you to death’ - more

     Botswana hopes to strike deal with Norilsk soon over Nkomati mine - Botswana aims to resolve a dispute with Norilsk Nickel (Nornickel) next month over a failed deal in which the country's BCL Mine was to buy the Russian firm's 50 percent stake in the Nkomati mine. - more

     Electric vehicles could be a game changer for high-grade nickel producers - Strong interest in a new battery-grade nickel product Western Areas plans to produce reinforces suggestions the growing electric vehicles sector could deliver a "renaissance" for the flagging nickel market, Western Areas managing director Dan Lougher says. - more

    Western Areas Ltd share price climbs higher on production update - The Western Areas Ltd share price has been amongst the worst performers on the local share market this year, falling approximately 23%. - more

     Courtesy AISI - In the week ending on July 22, 2017, domestic raw steel production was 1,773,000 net tons while the capability utilization rate was 76.1 percent. Production was 1,667,000 net tons in the week ending July 22, 2016 while the capability utilization then was 71.3 percent. The current week production represents a 6.4 percent increase from the same period in the previous year. Production for the week ending July 22, 2017 is up 0.6 percent from the previous week ending July 15, 2017 when production was 1,763,000 net tons and the rate of capability utilization was 75.6 percent. - source

     If the U.S. has a steel problem, it isn't China: Russell - Anybody looking at the United States' import data would wonder why the Trump administration is bothering making a big deal out of its steel trade with China. - more

  Morning Nickel Price Statistics & Figures

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

Monday, July 24

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.32/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on both Thursday and Friday and start the week just over the 375,200 tonne level. Nickel fell sharply on Thursday, but held on for s slight gain on Friday and so far today, we are seeing further recovery. The Euro is stronger again, which is assisting, with all London traded base metals in the green at the moment. Technical indicators are still mostly positive, with some warning of overbought conditions. Nickel closed below its 100 day MVA on Thursday, but has since traded above that level. We still have resistance at $4.36/lb, with an earlier push thru this level unsuccessful. Lot of news linked below, and amongst the rest, Australian Clive Palmer returned from a summer cruise vacation last week, only to find himself right back in Australian headlines.  
  • Average price of cash nickel so far this month - $4.21/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper hovers near $6,000 level - more

  Reports

  • June 2017 crude steel production - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Future of mining ‘looks rocky with $16bn climate risk’ - more
  • Reuters - Metalloinvest Cyprus ... will sell its entire 1.79 percent stake in miner Norilsk Nickel through an accelerated bookbuild, the bookrunner said on Thursday.
  • China steel falls for second day on mounting concerns of supply glut - more
  • Euro Halts Advance as Carmakers Weigh on Stocks: Markets Wrap - more

     Market Prices of Austenitic Stainless Sheets Rise As Much As $240 in China - In the Chinese market, prices of austenitic stainless steel sheets rapidly rose in the past 2 to 3 weeks. In dollar equivalent, those prices are said to have risen by $240 per ton. It is reported that with a rise in prices of austenitic stainless sheets, prices of ferritic stainless steel sheets also rode by $140 or so. - more

     Indonesia says Jan-June nickel ore export 403,201 tonnes - Indonesia exported 403,201 tonnes of nickel ore in the first six months of 2017, when a complete ban on exports was lifted, a mining ministry spokesman said on Friday. - more

     Nickel's jitters worries New Caledonia's mining union - New Caledonia's main union in the mining sector is alarmed at the low price of nickel, fearing it could lead to the closure of a nickel plant with ensuing job losses. - more

    Cuba seeks to revive mining sector - A new lead and zinc mine in northwestern Cuba is on track to start production in October as part of the Caribbean island’s attempt to breathe fresh life into its mining sector, the joint venture Emincar overseeing the project said this week. - more

     Condition of Sudbury mine concerned driller - When "greenhorn" long-hole driller Justin Bisaillon started working for Taurus Drilling Services at First Nickel Inc's Lockerby Mine, he was matched up with many experienced drillers, including his father Norm. - more

  • Sudbury mine needed culture change: supervisor - more

     ZimAlloys to pay creditors 70pc upwards on debt owed - Gweru-based ferrochrome producer Zimbabwe Alloys says it is working on an arrangement which will see creditors being paid upwards of 70 percent on debt owed to them before the company was placed under judicial management. - more

     This week in history: Mill to treat molybdenum - From all reports, a large concentrating mill will soon be erected at Climax, on the C. & S. For several years much has been heard of the molybdenum deposits at Climax, and several companies have worked at different times. - more

     Thunder Bay, Fort William First Nation make the case for Ring of Fire smelter - Thunder Bay and Fort William First Nation made a joint push this week to be the host site for a ferrochrome smelter serving the Ring of Fire. - more

     Reader's view: Prove it's safe before mining metals - There is only one fatal flaw (well, maybe there are several) in all the arguments for the introduction of copper-nickel mining to the state of Minnesota: This kind of mining has never been done in Minnesota. - more

     Clive Palmer 'arrogant and bloody-minded' for offering workers advice, Townsville Mayor says - Clive Palmer's advice to former Queensland Nickel workers to "move location or go somewhere", smacks of arrogance the Mayor of Townsville Jenny Hill says. - more

  • Clive Palmer denies responsibility for unemployed Queensland Nickel workers - more
  • Clive Palmer back from 'romantic' cruise - and straight to court - more
  • Palmer served with legal papers by Queensland Nickel liquidators - more

  Morning Nickel Price Statistics & Figures

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

Thursday, July 20

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.38/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses rose for a third session on Wednesday and now total just over the 376,500 tonne level, a new high point for the month. Nickel closed lower yesterday, and is treading water today. For the week, and in the context of the last month, nickel has done little, trading within a $200 tonne range. Still a lot of buying interest out there, with technicals turning cautionary, yet remaining positive. US Dollar is trading higher again today, which is adding more negative pressure on London commodity trading. The trend for the Dollar appears to be lower against the Euro, so the pressure could be temporary. This is our last update for the week, so we hope each of you has a relaxing and safe weekend. Life is far too short, so make the effort to have a memorable moment this weekend. And come see us again next week.
  • Average price of cash nickel so far this month - $4.19/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper buoyed near highest since early March - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Over halfway into the year, steel outshines oil markets - more
  • Scrap predicted to play bigger role in China's steelmaking industry - more
  • Stocks Trade Near Record Before ECB; Dollar Rises: Markets Wrap - more

     Nickel West boosts output - BHP Billiton’s Nickel West division, which employs more than 2000 people across its Goldfields operations, has posted its strongest quarterly production since 2013. - more

     Stainless steel market update June’17- Cost breakdown starts accompanying ferrochrome contract settlement.- We required been awaiting those publication about Q3 ferrochrome contract costs with interest, expecting a breakdown starting with Q2 value. In the end, the concurred fall might have been marginally closer on 30%. - more

     Testimony resumes in First Nickel, Taurus Drilling case - The amount of water in First Nickel's Lockerby mine in Sudbury. Ont., was unprecedented for Wade Johnson. - more

  • Supervisor couldn't track Sudbury mine's 'bump' -- trial  - more

     Panoramic Resources Investor Presentation - Savannah Feasibility Study Optimization Robust economics at spot commodity prices - Price Outlook in Section 5 - pdf here

     Study: Copper mining would have economic costs - A newly-released study by two PhD economists has put economic data and analysis behind the arguments of sulfide mining opponents in the region, namely that boosters of copper-nickel mining have failed to adequately consider the economic costs associated with a major industrial expansion in the heart of the Superior National Forest. - more

     Thunder Bay in the mix - Toronto-based mining company Noront Resources revealed its plan to build a ferrochrome processing facility (FPF) in Northern Ontario Wednesday at the Valhalla Inn to a crowd of about 130 people. - more

  • Romano pressing for mid-August Ring of Fire tour - more

      Nornickel Completes 30% Expansion of Talnakh Nickel-Copper Concentrator - Norilsk Nickel (Nornickel) has completed commissioning of a 30% expansion of throughput capacity and modernization of the Talnakh concentrator at its Polar division in north-central Russia. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, July 19

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.44/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME authorized warehouses rose on Tuesday and started the trading day just under the 375,400 tonne level. Metals trading has been somewhat subdued today in comparison to the last week, with a lower Euro adding some negative pressure. Nickel opened lower, but has since climbed to a higher level than it closed yesterday. We are only a few pennies shy of another technical resistance test at $4.47/lb, which might prove a little harder to roar past like the last one was. Trading volumes appear to be running ahead of average, reflecting a lot of interest in base metals at the moment. The World Bank issued an interesting report forecasting an increase in metals demand by the growth in the green energy sector. Story and link to the report below. And the WBMS reports that the world used 54.3 kt more nickel than it produced in the first five months of 2017. Light news day otherwise.
  • Average price of cash nickel so far this month - $4.17/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper still hot on China data, high steel prices - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • We benefitted from having locked in long term contracts at high prices: Subhrakant Panda, MD, IMFA - more
  • Chinese Monthly Steel Output Soars to Historic High, Despite Drastic Capacity Cuts - more
  • Euro Retreats as ECB Meets; Earnings Boost Stocks: Markets Wrap - more

     Nickel market records deficit in January to May 2017 - The Nickel market was in deficit during January to May 2017 with apparent demand exceeding production by 54.3 kt. In the whole of 2016 the calculated deficit was 62 kt. Reported stocks held in the LME at the end of May 2017 were 12.9 kt higher than at the end of the previous year. - more

     Minerals and Metals to Play Significant Role in a Low-Carbon Future - The rise of green energy technologies required for a low-carbon future is expected to lead to significant growth in demand for a wide range of minerals and metals, such as aluminum, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals, according to a new World Bank report, “The Growing Role of Minerals and Metals for a Low-Carbon Future.”  - more  (report - pdf here)

     BHP Billiton Hits Targets But Hit By Escondida Strike Action - Anglo-Australian mining giant BHP Billiton PLC reported late Monday that its total iron ore production for the fourth-quarter was 60.1 million tonnes, up 8% from 55.63 million tonnes in the previous year. - more

  • The fastest shrinking towns in Australia - more

    INC sees suit filed by DENR a chance to be heard - Ipilan Nickel Corp. said it was standing in the face of a suit filed by the Department of Energy in the Palawan provincial prosecutor’s office related to the cutting of thousands of trees in Brookes Point. - more

     Cuba's financial crisis worsens -economy minister - Cuba's two-year-old financial crisis worsened during the first half of this year, and the country is having difficulty obtaining trade credits due to late payments to suppliers, according to Cuban Economy Minister Ricardo Cabrisas. - more

     A swindle? PolyMet land swap actually a public benefit - An attorney for the Minnesota Center for Environmental Advocacy, a chief opponent of the PolyMet copper-nickel project, called a land exchange between PolyMet Mining and the federal government a "giveaway of public land, plain and simple." - more

  • Mining foes jam St. Paul listening session; advocates stay away - more
  • Mine opponents dominate St. Paul hearing as supporters boycott - more

     Should You Join the Cobalt Profit Party? - Cobalt is the red-headed stepchild of metals mining. A mere 6% of cobalt comes from mines focused on mining cobalt. The remaining 94% is the byproduct of nickel and copper mining. That’s why cobalt production is linked closely to the mining of these major metals. No mine in the world would increase nickel or copper production just to obtain cobalt. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, July 18

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.35/lb  . Indicators at 6:30 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just under the 374,000 tonne level. Nickel did little yesterday, but it did maintain its trading level well above resistance for a second day, and thus technically speaking, the signals remain positive for the bull to continue. We now show resistance is around $4.47/lb. It also appears the Euro is trading at a 14 month high against the US Dollar, and has been gaining pretty consistently since mid April. Nickel prices didn't bottom out until two months later, showing the disconnect in the two. While technical signals remain positive for the most point, the increase on Friday was overdone, and increases the risk of a price correction. For the moment, the bulls remain clearly in charge of the market.  
  • Average price of cash nickel so far this month - $4.16/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper holds gains on the back of strong China GDP - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Massive copper mine tests Trump's push to slash regulation - more
  • Glencore mulls spinning off mining royalties into new company - more
  • China Just Made the Most Steel Ever as Trump Gets Set to Act - more
  • Tropical Pacific Ocean warmer than average, but ENSO neutral to stay for 2017 - more
  • Dollar Falls as U.S. Reform Hopes Dim; Stocks Drop: Markets Wrap - more

     New Caledonia's SLN mine belt system repaired - The SLN nickel company in New Caledonia says the belt system damaged in a fire at the start of the month has been repaired. - more

     Vale's future in New Caledonia uncertain - New Caledonia is facing the possibility of unprecedented job losses because of the continued low nickel price. - more

     ERAMET Group's New Chairman Visits Japan and Holds Interview = Target to reduce costs by end of 2017 is expanded to EUR 400 million = Ms. Christel Bories, Chairman and Chief Executive Officer of ERAMET Group, France visited Japan and held a press interview at Hotel Okura located in Minato-ward, Tokyo on July 6, and explained about its corporate activity in 2016 and its outlook for the future. - part 1  part 2

     Rising Nickel demand from Chinese Steel sector lifts India’s Nickel Scrap, Nickel Futures prices - Major nickel scrap prices in India have advanced further on the Scrap Register Price Index as on Monday, while nickel futures prices at India's Multi Commodity Exchange settled higher mainly due to the rising nickel demand from Chinese steel sector. - more

     Ipilan Nickel faces criminal complaint over tree-cutting - The Department of Environment and Natural Resources has filed a criminal complaint against Ipilan Nickel Corp, accusing the company of violating its tree-cutting permit. - more

     Clive Palmer continues to fight federal government over Queensland Nickel blame - Embattled businessman Clive Palmer has lodged an appeal against last month's Supreme Court decision to strike-out parts of his defamation claim against the federal government. - more

     Courtesy AISI - In the week ending on July 15, 2017, domestic raw steel production was 1,763,000 net tons while the capability utilization rate was 75.6 percent. Production was 1,667,000 net tons in the week ending July 15, 2016 while the capability utilization then was 71.3 percent. The current week production represents a 5.8 percent increase from the same period in the previous year. Production for the week ending July 15, 2017 is up 1.7 percent from the previous week ending July 8, 2017 when production was 1,733,000 net tons and the rate of capability utilization was 74.3 percent. - source

  Morning Nickel Price Statistics & Figures

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

Monday, July 17

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.35/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on both Thursday and Friday of last week and start this week just over the 373,200 tonne level. After a couple of days trading in a shallow trend, nickel spiked again on Friday, on news China's economy and in particular its steel industry, was a lot healthier than many believed. That trend is continuing today, with news that steel production in China returned to setting all time high figures in June. This isn't exactly noteworthy, as China has set new all time record high in 3 of the last 4 months, but the market has come to expect this record to be broke each and every month, so when it didn't in May, traders started wondering why. Technical's have returned to all positive, so instead of trying to figure out why, it is best to ride out the wave.
  • Average price of cash nickel so far this month - $4.14/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Strong China data helps copper to 4-1/2-month peak - more
  • Bloomberg - Metals Bounce Back From June Low - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SO) NBS: China’s crude steel output rises by 4.6 percent in H1
  • Latest US trade restriction beef pits farmers against steelworkers - more
  • Behind the scenes, companies fight Trump on U.S. steel tariffs - more
  • AIIS Summer 2017 Market Update - more
  • Trudeau says Trump told him he does not think Canadian steel a tariff target - more
  • Reuters - South Korea bought 150 tonnes of nickel for September arrival via a tender that closed on Wednesday, state-run Public Procurement Service said on its website
  • Data in Driving Seat as Metals Rally, Stocks Swing: Markets Wrap - more

     More smelters halt operations amid plummeting nickel price - Following the free fall in global nickel prices, more smelter companies in Indonesia have begun halting operations. - more

     DENR sues nickel firm for illegal tree cutting - The Department of Environment and Natural Resources (DENR) on Friday filed before the Office of the Provincial Prosecutor of Palawan a criminal complaint against Ipilan Nickel Corp. (INC) over the massive indiscriminate cutting of trees in Brooke’s Point town. - more

     Zimbabwe: BNC Bags U.S.$1 Million in New Export Incentives - Listed Nickel producer Bindura Nickel Corporation (BNC) has bagged around US$1,06 million in export incentives from the Reserve Bank of Zimbabwe's export support initiative that gave birth to the bond notes, a company official has said. - more

  • Ferrochrome producers bail out Zesa - more

     Higher prices, weak peso boost Nickel Asia - Nickel Asia Corp. on Thursday said the estimated value of shipments jumped 41% in the first six months of 2017, amid an improvement in nickel ore prices and a weaker peso. - more

     SW Oregon river gets special protections with designation - State officials have given a southwest Oregon river a special designation that could end an effort to build a nickel mine nearby. - more

     Independently-estimated nickel costs show huge margins on offer for Amur Minerals - Independent cost estimates show that operating margins at Kun-Manie could be substantial - more

     Maya Q'eqchi' Demand Justice for Fisherman Killed During Police Crackdown on Mining Protest in Guatemala - The clouds of tear gas began to dissipate, and the crisp sounds of gunshots punctuating the chaos halted. Someone was lying in the middle of the road. - more

    Bill backing PolyMet land swap gets first hearing in Congress - Calling it a "very good land exchange... for the taxpayers and the citizens of our nation," U.S. Rep. Rick Nolan testified in front of the House Subcommittee on Public Lands Friday in favor of a bill the 8th District DFLer authored.  - more

     Is this the new hotspot in Russian Arctic tourism? - "The wildlife reserves of Taymyr have a huge potential, these are untouched territories where there can be developed exclusive tourism", Minister of Natural Resources Sergey Donskoy said during a recent visit to the region. - more

     Nickel is Crucial for Earth's Magnetic Field - It only takes a simple compass to demonstrate that the earth has a magnetic field - but it is quite difficult to explain how exactly it is created. - more

     Clive Palmer’s in-law’s jaunts anger sacked workers - News of Clive Palmer’s in-laws living it up in Bulgaria has angered sacked Queensland Nickel workers still getting their lives back on track. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, July 13

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.18/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 375,600 tonne level. Nickel has climbed approximately $.16/lb since bottoming out Monday afternoon, with another $.09/lb to go to match where it started the month at, the peak in a second half June rally. Technical signals are mixed, with the majority sending either a neutral or positive signal. We still see no basis for this price rally, except possible signals from China that things are looking a little brighter, but gave up trying to figure out the why's of the market a long time ago. In other news, equity markets ended higher yesterday on news from Fed Chair Yellen that dampened fears of possible multiple rate increase coming this year. This news did give the Euro a boost against the DOllar, which can help commodity prices. This is our final update for the week so we wish each of you a relaxing and safe weekend.
  • Average price of cash nickel so far this month - $4.12/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Aluminium climbs on more talk of Chinese output cuts - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • SECTION 232 AIIS Member Message - more
  • Relief Rally Spurs Stocks to Record; Dollar Falls: Markets Wrap - more

     Philippine President Says Will End Mining Impasse, Warns Miners - Philippine President Rodrigo Duterte promised on Wednesday (12/07) to resolve an impasse caused by a ministerial order to close more than 20 mines in the world's top source of nickel ore, but told miners to end practices that damaged the environment. - more

     Steel overcapacity cut ahead of target - China has fulfilled the year’s task of cutting steel capacity over the first six months, boosting the nation’s industrial upgrading, the state-asset regulator said yesterday. - more

     India’s Nickel Scrap prices gain tracking the firmness in Futures - India’s major nickel scrap prices gained on the Scrap Register Price Index as on Tuesday tracking the firmness in the nickel futures prices at India's Multi Commodity Exchange, tracking economic data and the U.S. dollar as traders await more clarity on possible changes in the supply chain. - more

     Muted growth forecast for Europe’s mining industry - Mining and metals companies operating in Europe are set to remain in recovery mode, as a sluggish recovery in mineral prices keep investment activity subdued, while environmental regulations will pose headwinds for coal-producing countries. - more

     Japan's Purchase Price of HC FeCr for Jul-Sept Down by US Cents 44 = US Cents 118 per lb, due to slumping price in China = Japanese stainless steel mills have continued negotiation with multiple foreign ferro-chrome producers to fix the purchase price of high-carbon ferro-chrome for the period from July to September in 2017, and have this time come to an agreement on the price to be down by US Cents 44 from the prior period. - more

     SMC eyes nickel plant, electronics, clean energy - Top Frontier Investment Holdings Inc., the largest shareholder in San Miguel Corp., plans to start the construction of a $1.5-billion nickel processing plant in 2018. - more

     EC vs Turkey In Compliance With WTO Rules: Dumping Exports To The EU And Restricting Imports From The EU? - The European Commission ("Commission"), being quiet active between the last week of June and first week of July 2017, initiated trade remedy investigations (i.e. anti-dumping and expiry review) against various countries, including Turkey. In particular, the Commission launched an anti-dumping investigation concerning Turkey's exports to the EU and a trade barrier examination concerning EU imports to Turkey. - more

     Palmer Blames Chinese Nemesis For $2.3B Loss - Embattled billionaire Clive Palmer is directly blaming his Chinese nemesis CITIC for the collapse of his nickel empire in a new legal action which claims its failure to pay him royalties meant the Queensland company folded with a personal loss to the former MP of $2.3 billion. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, July 12

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.14/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME approved warehouses took a big jump yesterday and started the day just under the 376,500 tonne level. While we are still higher than where we started the year, we are still short of the 386,400 tonnes the LME recorded on March 15th, the high for 2017 so far. Nickel jumped mid day yesterday and has done little since. Metals analysts quoted in the media seem to be talking about demand from China as the main reason for the jump in price. And while the technical indicators remain positive, we feel it is a stretch to try to justify the increase in price to demand from China. China is, and has been, using more nickel than last year. And since last year, we have seen the return of Indonesia as a major source to China of the low content nickel ore.  This new supply supplements the supply coming from the Philippines, a source, which for a short time, looked questionable for 2017 but has since reestablished itself as China's main source. B of A analysts are reporting approximately 40% of nickel producers are losing money with prices this low. And while this could potentially support nickel prices, we will have to see some of these 40% actually shut down, before the market would be justified in reacting. Nickel is trading above its 10 and 30 day moving average, but hasn't threatened its 100 day moving average in a long time. We show major resistance at $4.25/lb, with major support at $3.95/lb.
  • Average price of cash nickel so far this month - $4.11/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Tumbling inventories help zinc to three-month highs - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SO) EUROFER: EU steel exports down 10 percent in January-April
  • Bank of America Merrill Lynch - "Taken all together, around 40% of nickel operations globally are loss-making at present."
  • Stocks Rebound as Dollar Dips on Trump Revelations: Markets Wrap - more

     Nickel Prices Range Bound, Awaiting Further Clues on Supply-Side Developments - Nickel prices have continued to trade with little direction, tracking economic data and the U.S. dollar as traders await more clarity on possible changes in the supply chain. - more

     Financial Recovery is Possible After Nickel Price Rebound - Nickel Asia Corporation is one of the world’s top suppliers of lateritic nickel ore. - more

     Ni SUS Scrap Purchase Price in Kanto in July Starts with JPY115,000/120,000 = Demand for SUS scrap is weak, and price in Kanto area is JPY5,000 cheaper than others = As of July 5, many of the stainless steel mills in the Kanto area offer the purchase price (delivered at plant) of nickel-containing stainless steel scrap (SABOT) at the range from JPY115,000 to JPY120,000 per ton. (Hereinafter, the price is per ton) - more

     BASF and Norilsk Nickel enter exclusive negotiations to cooperate on raw material supply for battery materials production in Europe - BASF and PJSC MMC Norilsk Nickel (Nornickel) announced today that they have signed a Memorandum of Understanding and entered exclusive negotiations to cooperate on the supply of raw materials for future battery materials production for lithium-ion batteries in Europe. - more

     New Caledonia mine system repair underway - It is expected to take at least a week to repair the damage caused by a fire at the SLN mine site in New Caledonia. - more

     EUROFER Forecasts Improved EU Steel Market Conditions In 2017-‘18 0 The Economic Committee under the European Steel Association (EUROFER) has published the Q3 ’17 Report. The report predicts improvement to EU steel market conditions during 2017-’18. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, July 11

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.09/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and now sit just under the 372,600 tonne level. Nickel fell below support yesterday and shortly after we published our morning report, it bounced into positive territory, closing 1% higher on the day. After a groggy start, nickel is the only base metal trading in the positive at the moment, albeit just barely. Technical indicators are all sending buy signals, with fundamentals not so much. The Euro is slightly lower, adding negative pressure on commodity trading, with currency markets waiting for US Fed Chair Yellen to testify before Congress today.  
  • Average price of cash nickel so far this month - $4.12/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper gains on back of stronger steel prices - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Thrill is gone as metals investors ditch ETFs - more
  • LME launches bid for slice of $5 trillion London gold market - more
  • Stocks Follow Crude Prices Lower; Bonds in Retreat: Markets Wrap - more

     Demand Forecast about Special Steel in Jul-Sept 2017 = Up by 3% from year-earlier period = On July 3, the Ministry of Economy, Trade and Industry made clear its demand forecast about special steel for the period from July to September in 2017 in the lecture held by Special Steel Association. - more

     Four Million Tons of Raw Minerals Flood the Global Market - The Indonesian Government had recently approved the export requests from two mining companies regarding raw mineral exports. - more

     Tanzania's president signs new mining bills into law - Tanzanian President John Magufuli said on Monday he has signed into law new mining bills which require the government to own at least a 16 percent stake in mining projects. - more

     How an Avebury restart could happen - The Avebury mine could potentially resume production within a year, but much appears to depend on whether its new owner has a nickel buyer lined up, or can secure one. - more

     Eurofer ups EU steel demand forecast, warns on 'disastrous' U.S. tariff plan - European steel association Eurofer raised its 2017 EU steel demand forecast on Monday but said isolationist measures such as a U.S. plan to levy steel tariffs on national security grounds could be disastrous for global trade flows. - more

     Jangada confirms high grade nickel and copper at Pedra Branca - Jangada Mines has announced an updated JORC compliant resource estimate, which now included copper and nickel by-product credits, for its Pedra Branca platinum group metals project in north-eastern Brazil. - more

     Courtesy AISI - In the week ending on July 8, 2017, domestic raw steel production was 1,733,000 net tons while the capability utilization rate was 74.3 percent. Production was 1,667,000 net tons in the week ending July 8, 2016 while the capability utilization then was 71.3 percent. The current week production represents a 4.0 percent increase from the same period in the previous year. Production for the week ending July 8, 2017 is up 0.9 percent from the previous week ending July 1, 2017 when production was 1,717,000 net tons and the rate of capability utilization was 73.6 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, July 10

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.04/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and went unchanged on Friday to start this week just under the 372,900 tonne level. For those of us who might have thought the end of June's bullish rally smelled a little fishy, the sudden return of the bearish mood to the nickel market makes sense. Nickel spiked (July 2nd) just as the first half and second quarter of the year was being finalized on the books, so many institutional traders had a vested interest in the rally. With that now complete, we are seeing a return to a more normal market, with nickel prices falling back to their mid June levels. Feel snookered? Welcome to the world of metals trading. Norilsk is reporting four killed in a mine explosion in their northern Russia mine. Indonesia is reporting some of their nickel mines are shutting down due to the low nickel prices. Typically mine closures support higher prices, but right now the price of nickel appears to be heading south with a cause.
  • Average price of cash nickel so far this month - $4.14/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper edges lower on inventory rise, Chinese data - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • AISI Releases June SIMA Imports Data; Import Market Share 29 percent in June - more
  • Stocks Advance as Mood Remains Buoyant After Data: Markets Wrap - more

     Four Dead in Norilsk Nickel Mine Explosion - At least four people have been killed after an explosion at a Norilsk Nickel mine in northern Russia, the company said in a statement Friday. - more

     More smelters halt operations amid plummeting nickel price - Following the free fall in global nickel prices, more smelter companies in Indonesia have begun halting operations. - more

  • Nickel prices in free fall following issuance of additional export permit - more

     LME Ni Average Price in June Down by 2% from Prior Month = It shows upward trend although swinging up and down wildly, and month-end inventory continues to be down = LME monthly average nickel price in June 2017 was Cash seller: US$8,930.68 per ton (US$4.051 per lb) and 3-month seller: US$8,988.18 per ton (US$4.077 per lb). - more

     Cuba sees 2017 nickel, cobalt sulphides output at 54 500 t - Cuba plans to produce 54 500 t of nickel and cobalt sulphides this year, State-run television said at the weekend. - more

     Tharisa forecasts stable chrome price as support returns - The chrome price was forecast to further stabilise amid evidence that demand for the metal would remain strong, said Tharisa, the Johannesburg-listed platinum group metal (PGM) and chrome producer. - more

     Avebury nickel mine sold - The Avebury nickel mine has finally been sold, with the new owner apparently keen to get it back into production as soon as possible. - more

  • Minotaur puts nickel projects on the market - more

     Clive Palmer calls for Murdoch to be jailed when questioned on holiday - Businessman Clive Palmer has launched into a passionate rant slamming media mogul Rupert Murdoch, after he was approached by a journalist while on a family holiday. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, July 6

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.15/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose dramatically on Wednesday and started the day just over the 372,600 tonne level. This increase puts LME nickel stockpile numbers above where they started the year again, so we saw a recorded deficit for the year last three trading days. Trading has been choppy so far today, but the trading range has been held to a $.04/lb variance. Technicals are sending neutral signals for the most part, and support and resistance levels are tightening. This tells us the computer algorithms the big trading houses use are as confused as the pen and paper trader. Nickel is trading above its 30 day moving average, but below its 10 and 100 day. For no real fundamental reason, we saw the trading price of nickel rise around 9% the last weeks of June. So far, the first week of July has favored the bears. The new Philippine environmental minister nitched his predecessors ban on environmental permits for miners, as expected. This is our last update for the week, so we hpe each of you has a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $4.17/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper steadies near 1-wk low, Chile strike worries support - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Sucden Financial - "With the caveat that Indonesian and Philippine supplies are perennially liable to disruption, weaker demand seems likely to exert downward pressure on prices, with support seen at $8,700 and resistance at $10,000"
  • China’s Record Steel Punts Show Risks for Market’s Bull Run - more
  • Oil Bounces; European Bonds Decline as Gold Slips: Markets Wrap - more

     Philippine minister lifts restriction on environmental permits - The Philippines' new environment minister has lifted a restriction on issuing environmental permits to projects, including mine exploration and development, reversing a previous order by his controversial predecessor dismissed in May. - more

     ANZ stung by nickel fraud: what we know - The trade finance industry is reeling from another high-profile warehouse receipts fraud, after ANZ was stung by a nickel fraud worth more than US$300mn. - more

     South African stainless steel imports surged by 44% in 2016 - Imports of finished stainless steel products into South Africa surged by 44% in 2016, a survey by Southern African Stainless Steel Development Association (sassda) has revealed. - more

     Palmer blames Chinese nemesis for $2.3b loss - Embattled billionaire Clive Palmer is directly blaming his Chinese nemesis CITIC for the collapse of his nickel empire in a new legal action which claims its failure to pay him royalties meant the Queensland company folded with a personal loss to the former MP of $2.3 billion. - more

  • Clive Palmer’s entire business empire in firing line of massive lawsuit - more

     Steel Imports Climb in May - The U.S. imported 3.4 million tons of steel in May, including 2.6 million tons of finished steel, according to Census Bureau data and the American Iron and Steel Institute, Washington. Total steel imports were up 2.5 percent compared with April, while finished imports increased 1.8 percent. - more

  • News from AIIS: May 2017 Steel Imports Press Release - more

     Courtesy AISI - In the week ending on July 1, 2017, domestic raw steel production was 1,717,000 net tons while the capability utilization rate was 73.6 percent. Production was 1,743,000 net tons in the week ending July 1, 2016 while the capability utilization then was 74.5 percent. The current week production represents a 1.5 percent decrease from the same period in the previous year. Production for the week ending July 1, 2017 is down 0.7 percent from the previous week ending June 24, 2017 when production was 1,729,000 net tons and the rate of capability utilization was 74.2 percent. - source

     'Gut-wrenching': power prices rise 64pc in June quarter - The normally meek June quarter for electricity markets has been turned on its head with wholesale prices breaking records to an extent that is appalling experts and should scare energy users, regulators and governments. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, July 5

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.16/lb . Indicators at 6:25am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses recorded their 11th consecutive drop on Tuesday and now total just under the 370,300 tonne level. Nickel hit resistance at $9,400/tonne and after being unable to hold above that line late Friday and early Monday, the market went into a sell mode. That bearish mood continues today, with traders looking to $4.13/lb for its first line of support. Andy Home from Reuters wrote a piece on the return of Indonesia ore to China. The new man in charge at Vale is giving a hard look at nickel operations in New Caledonia, one week after a shutdown caused by a small strike at Eramet's New Caledonia operation ended. And in Australia, Mr Palmer returned from a European cruise to a lawsuit over the closed Queensland Nickel. Mr Palmer appears to be suffering from the same change in public opinion that New Jersey governor Chris Christie is. We can remember linking to stories where Mr Palmer surprised some of his managers with brand new cars, back in nickel's hay day. Governor Christie had a shot at the presidency, but his reversal in popularity has been astounding. The latter half of 2016 was stronger then the first half, but the later half of 2015 was much lower than its first half. No real pattern out there to follow, although stainless steel production in Europe is generally lower for the next few months as employees take vacations.
  • Average price of cash nickel so far this month - $4.19/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper down on rising stockpiles, strike threat curbs losses - more

  Reports

  • Stainless steel raw material tracker – June 2017 - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Tropical Pacific Ocean remains ENSO neutral - more
  • Getting scrappy: China iron ore demand may falter as steel recycling grows - more
  • Haven Gains Ebb as Traders Await Fed, ECB Minutes: Markets Wrap - more

     As Indonesian nickel ore flows again to China, famine turns to feast: Andy Home - The flow of Indonesian nickel ore to China has resumed after a three-and-a-half year break. - more

     Nickel falls on abundant supplies, mine closure prospects fade - Nickel prices fell on Tuesday on expectations of plentiful supply from Indonesia and the Philippines, while industrial metals were mostly lower as investors took profits following a recent rally. - more

     Vale says loss-making New Caledonia nickel operations under review - Brazil's Vale is reassessing its loss-making New Caledonian nickel operations as part of a wider review of low performing assets after new Chief Executive Fabio Schvartsman took charge last month, a spokesman said. - more

     Price of HC FeCr in China Continues Showing Rising Trend = Price bottomed out on June 12, rebounded like crazy and rose by nearly 20% for about 2 weeks = The price of high-carbon ferro-chrome in the Chinese domestic market continued declining gradually until early June from May, but rebounded all of a sudden on June 13 and the price in the main consuming area as of June 28 is up by around CNY1,500 per ton from the bottom price. - more

     Clive Palmer and Clive Mensink sued by liquidators over Queensland Nickel - Clive Palmer, his nephew Clive Mensink and 19 others are being sued for about half-a-billion dollars by liquidators appointed by the Federal Government. - more

  • Liquidators target Clive Palmer’s corporate empire - more

     Zimbabwe's Trade Deficit At $1bln in 5 Months - Zimbabwe's trade deficit stood at $1,01 billion in the first five months of the year, a slight improvement from $1,12 billion last year, according to the latest data from the Zimbabwe National Statistics Agency (Zimstat) - more

     Nolan bill would force completion of PolyMet mine land swap - U.S. Rep. Rick Nolan has introduced a bill to force completion of a land swap needed for the proposed PolyMet copper-nickel mine in northeastern Minnesota. - more

  Morning Nickel Price Statistics & Figures

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

Monday, July 3

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.26/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel store din LME licensed warehouses fell on both Thursday and Friday and start the week under the 371,500 tonne level. Nickel continues to trade within its upward trend lines, although Friday's trading was muted, as traders squared their books for the first half. Today the trend is holding although a recovering US Dollar against the Euro is adding some negative pressure. US market are only open till noon today, and closed tomorrow, as the country celebrates its independence from Britain nearly 250 years ago. Cash official nickel averaged $4.43/lb for the first half of 1017, compared to $4.36/lb for all of 2016. We have resistance at $4.36/lb, and nearly all technical indicators remain positive. With the national holiday, our next update will be Wednesday, July 5th, although trading will take place on the LME.
  • Average price of cash nickel so far this month - $4.05/lb June average - $4.43/lb 1st half 2017
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Zinc at highest in nearly three months as shortage fears grow - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • European Stocks Bounce as Oil Rises, Dollar Gains: Markets Wrap - more

     Nickel price under pressure as supply grows, China uses less - The price of nickel, a raw material needed to make stainless steel, has been falling. Two factors are weighing on the price. - more

     China's Market Prices of Austenitic Stainless Sheets Rise by over $150 - According to a source, prices of austenitic stainless steel sheets in the Chinese market rapidly rose in a short time. - more

     Divergent prices in global Stainless Steel markets - Stainless steel flat products ex-mill prices decreased again, this month, in most of the countries surveyed by MEPS. - more

     Press Release - For the month of July 2017, North American Stainless will reduce the fuel surcharge to 19% for stainless flat and long products. The surcharge rate is considered a maximum level for July and will be reviewed monthly. - more

     New Caledonia's SLN strike settled - Seventy of one union's 120 members had been on strike since last Monday, forcing SLN to lower the output of its furnaces. - more

     Weak demand from China stainless steel mills hits ferrochrome prices - Global prices of ferrochrome, used to make stainless steel, have tumbled to their lowest levels this year due to weaker demand from stainless steel mills in top producer China, according to traders in Asia and Europe. - more

  • China May Stainless Steel exports hit best since 2009 - more

     ANZ says seeking to uncover metals fraudsters after big losses - Australia and New Zealand Banking Group is seeking to uncover who was behind a metals fraud in Asia that cost it "substantial losses" and led to transfers of $151 million to the United States, according to court papers filed in California. - more

  • ANZ chases metals fraudsters after suffering big losses in nickel deals - more

     Goldman Commodity Analysts Ask: How Did We Get It So Wrong? - Goldman Sachs Group Inc. analysts might not be the only ones to have incorrectly called commodity prices this year, but they are at least trying to figure out how they misjudged the market. - more

     Western Areas makes shipping deadline - Nickel miner Western Areas on Monday told shareholders that it was able to send the final shipment of nickel-in-concentrate to its customer in Asia, despite earlier fears that this would not eventuate. - more

      The Battle to Regain Lost Ground - Australia’s nickel industry is in decline, losing market share as production declines, reserves are exhausted, and operations lose cost competitiveness. - more

     These Charts Show U.S. Threat From Foreign Steel Is Overblown - President Donald Trump charged a couple months ago that a flood of cheap imported steel has not only cost American jobs, it also had national security implications. These charts show it’s not that clear cut for the latter. - more

     Environmentalists criticize changes to PolyMet mine design - An environmental group says the design for the proposed PolyMet copper-nickel mine in northeastern Minnesota has changed in significant ways that require regulators to conduct a fresh environmental review of the revisions. - more

  • Nolan bill will make PolyMet land exchange law - more

  Morning Nickel Price Statistics & Figures

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

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