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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
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)
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
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)
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
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)
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
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)
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
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)
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
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
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)
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
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)
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
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
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)
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
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)
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
(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)
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
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)
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
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)
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
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)
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
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)
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
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)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(7:00 AM CST is 12 PM in London)
. Indicators at
6:20 am CST today show 3 month nickel trading around $.09/lb
Reports
Commodity/Economic Comments
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
Morning Nickel
Price Statistics & Figures
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.
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. -
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. -
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. -
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. -
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. -
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%. -
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. -
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. -
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. -
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. -
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%. -
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. -
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. -
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. -
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. -
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.
-
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. -
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. -
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. -
