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Wednesday,
July 31
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed Tuesday's trading session at $6.51/lb. Indicators
at 6:20 am CST today show
nickel trading around $.01/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today's session, just over the 143,600 tonne level.
Yesterday was a 'nothing happened' day for LME nickel, with stockpiles
the prior day not moving, and with yesterday' closing doing much the
same. Today, the holding pattern continues with a mother load of
economic data flooding the markets. Today the US Fed is expected to cut
their interest rate today, for the first time in a decade. The market
expects it, and has been beating on it for a week. Rate cuts are made
to either calm down weary markets, or juice the economy. Neither of
these seem necessary at the moment, so we will be interested in reading
the reasoning behind this move later today. The Euro is trading near
its low for the year against the US Dollar. PMI's are being published
over the next days and we will get a better idea of what the trade war
is doing to the world economies. Speaking of the trade war, talks have
apparently ended in Shanghai and apparently went as well as talks with
North Korea have gone recently.
Average price of LME traded cash nickel so far this month
- $6.09/lb
Average price of LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals morning - London copper steady ahead of expected Fed interest rate cut - more
China, U.S. Conclude Shanghai Talks Without Signaling Progress - more
Stocks Mixed as Trade Talks Wrap Up; Dollar Steady: Markets Wrap - more
Tuesday's market review - Lead prices
slip on
rising stockpiles and weak factory output - Lead prices fell on Tuesday
after large deliveries of metal into London Metal Exchange (LME)
warehouses eased supply concerns and poor economic data pointed to
weakening demand. - more
Analysts cut copper forecasts on worries about Chinese demand: Reuters
poll - The LME cash price of nickel, which is mainly used to make
stainless steel, is expected to average $12,738 a tonne in the fourth
quarter, down 11% from Monday’s close. - more
Chinese AD ruling on stainless steel products benefits development of
stainless steel industry in China - The Ministry of Commerce of the
People's Republic of China (MOFCOM) had announced to levy the
anti-dumping duty tariff on imported stainless steel billets and
stainless steel hot-rolled plates from the EU, Japan, South Korea and
Indonesia started from July 23rd, 2019. - more
New World Record High for Stainless Steel Output in 2019 - Global crude
stainless steel production is predicted to reach a new record annual
total of 53.1 million tonnes, in 2019. This would exceed the previous
high figure, set last year, by more than 4.6 percent. - more
Zim imports bill increases by US$88 million as exports decline 6 % -
Zimbabwe's import bill has increased by US$88 million while at the same
time exports have plunged 6% that Reserve Bank of Zimbabwe (RBZ) has
reported. - more
78 persons arrested for vandalising factory, assaulting cops - A total
of 78 people have been arrested for allegedly vandalising an industrial
unit in Ganjam district and also assaulting cops, police said on
Wednesday. - more
Morning Nickel Price Statistics & Figures
Today's almost official prices here / Yesterday's
actual LME official prices here or here
Shanghai Jinchuan nickel price - available here
or here(updated)
Please let us know if any of these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Tuesday,
July 30
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed Monday's trading session
at $6.51/lb . Indicators
at 6:20 am CST
today show
nickel trading around $.03/lb
lower. Stockpiles of nickel stored in LME licensed warehouses went
unchanged on Monday and remain just under the 144,00 tonne level.
Nickel bounced yesterday, then set into a holding pattern just
under
the $6.50/lb level. It is slightly fading so far this morning. It
appears Ravensthorpe is going to give it another try. It closed for a
second time in October 2017, putting 270 people out of work, but is
looking to fire operations bank up on hopes the traded price of nickel
will stay higher. Ravensthorpe as built by BHP, who lost billions on
the project, and was purchased by First Quantam in 2009. In its day,
Ravensthorpe was classified as one of the mega mines that would rescue
the world from a global deficit situation. Its timing was a little late
however, and it opened after nickel prices had cratered as the deficit
situation was relieved by other mega mines opening sooner. The news of
its reopening is a double edged sword. When its back to full
production, its output will help alleviate some of the deficit
situation the world finds itself in again, but the cost of reopening
the mine is a huge financial commitment by its owners, who obviously
feel higher nickel prices are here to stay for awhile. The long term
trend for nickel looks positive, while the daily trend can give one a
headache. The second half of 2019 has started much the same as the
first half started. Nickel bottomed out on December 31, 2018 and rose
until March 5th, when it lost much of those gains. This run began
July
2nd, and time will tell how it turns out.
Average price of cash nickel so far this
month
- $6.07/lb
Average
price of LME traded nickel in
first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Reports
Reuters metals morning - Lead prices slip on rising stockpiles, weak
factory output - more
Stocks
Drop on Earnings; Brexit Concern Hits Pound: Markets Wrap - more
Monday's market review - Copper gains
before U.S.-China trade talks, data deluge - Copper prices rose on
Monday before planned U.S.-China trade talks and a flood of economic
data, while shrinking profits at Chinese industrial firms highlighted
the headwinds facing demand in the top consuming country. - more
Ravensthorpe nickel mine set to re-open a third time amid soaring
demand for the metal - The owners of the mothballed Ravensthorpe nickel
mine in Western Australia's south-east says it will move to re-open the
site if surging demand for the metal continues. - more
Courtesy AISI - In the week ending on July 27, 2019, domestic raw steel
production was 1,884,000 net tons while the capability utilization rate
was 80.9 percent. Production was 1,838,000 net tons in the week ending
July 27, 2018 while the capability utilization then was 78.4 percent.
The current week production represents a 2.5 percent increase from the
same period in the previous year. Production for the week ending July
27, 2019 is up 0.6 percent from the previous week ending July 20, 2019
when production was 1,872,000 net tons and the rate of capability
utilization was 80.4 percent. - more
Palmer Qld Nickel collapse trial resumes - Clive Palmer is expected to
return to court for the Queensland Nickel collapse trial after briefing
an insolvency expert to testify in his defence. - more
Billionaire’s €165 million superyacht Barbara spotted in Monaco - The
88.5-metre superyacht Barbara built by Dutch yard Oceanco in 2017, has
been captured in the waters of Monaco last week. - more
From ‘they need it’ to ‘it’s going to destroy the land,’ people in Ely
have a lot of thoughts about Twin Metals - At Ely’s annual
Blueberry/Art Festival this weekend, the debate over copper-nickel
mining near the Boundary Waters Canoe Area Wilderness (BWCA) was nearly
as visible as the food, music and crafts for sale. - 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 29
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel
closed Friday's trading session
at $6.40/lb. Indicators
at 6:15 am CST today show
nickel trading around $.02/lb lower.
Stockpiles of nickel stored in LME licensed warehouses fell on Thursday
and Friday and start the week just under the 144,000 tonne level.
Nickel ended the week after going no
where on Friday, much like it has this morning. The steep drop on
Thursday established $14,050/ tonne
as a line of support, although it may be more of a psychological
line than a technical one. For the week, nickel fell
2.50+%, but is still up 13.4% on the month and higher by over 31% year
to date. When comparing the traded price to one year ago, LME nickel is
slightly higher, up by nearly 4%. It appears the high point for nickel
this month, and year thus far, is $15,115 hit on July 18th. Stainless
steel prices have increased and downstream users are starting to feel
the effects of the nickel bounce. While nickel is down from its high,
it is wise to remember this bull came to be in June around the
$11,600+/tonne area. We saw $12,000 tonne fall in mid June,
$13,000/tonne the week of July 8, $14,000 tonne the week of July 15,
and $15,000 tonne was hit later that week, when the bear finally
lassoed the bull and pulled him back to the $14,000 tonne level. That
is where we remain today, and its anyone's guess where the market will
head. Fundamentals remain bullish, while macro economics somewhat less
so. It's the final three days of the first month of the latter half of
2019. May it be a prosperous one for you.
Average
price of cash nickel so far this
month
- $6.06/lb
Average
price of LME traded nickel in
first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Reports
Reuters
metals morning - Base metals mixed ahead of trade talks as pessimism
limits gains - more
Stainless
Steel Council of China Special
Steel Enterprises Association reports production of 300 series
stainless rose by 19% for first half of 2019.
Stocks Are
Mixed as Trade Talks, Fed Decision Loom: Markets Wrap - more
Friday's market review - Lead gains for
third week
as supply outages erode stockpiles - Lead prices were set for a third
weekly gain as production outages tightened supply of the metal used in
batteries and drove stockpiles in London Metal Exchange (LME)
warehouses to the lowest in 10 years. - more
June 2019 crude steel production - World crude steel production for the
64 countries reporting to the World Steel Association (worldsteel) was
159.0 million tonnes (Mt) in June 2019, a 4.6% increase compared to
June 2018. - more
Taiwanese Yusco greatly hikes stainless steel prices for Aug - Yieh
United Steel Corp. (Yusco), the largest integrated stainless steel mill
in Southeast Asia, announced its stainless steel prices for August
today (July 29th). - more
Why London Metal Exchange warehouses thrive in the shadows: Andy Home -
Investment fund Cobalt 27 boasts on its website that it holds 2,904.7
tonnes of physical cobalt “fully insured and stored in LME-certified
warehouses in Europe and the U.S.” - more
Indian stainless flat import probe and rationale behind it - On 3 July
2019, Indian government’s Directorate General of Trade Remedies (DGTR)
initiated an anti-dumping investigation into stainless steel flat
rolled imports from China, the US, the European Union, Japan, South
Korea, Indonesia and nine other countries. - more
Taiwan determines to keep AD duties on stainless steel cold-rolled
products from China & South Korea - According to the report, Taiwan
has imposed a five-year anti-dumping duty on stainless steel
cold-rolled products from China and South Korea since 2013. - more
China's
lateritic nickel ore market to see 60,000 mt glut in 2019 - This
year is likely to see an oversupply of 60,000 mt of lateritic nickel
ore domestically, with estimated production of high-grade nickel pig
iron (NPI) at 510,000 mt and the overall imports of ore at 570,000 mt,
SMM forecasts. The readings are based on nickel content. - more
Indonesia: International consortium seeks nickel & cobalt - An
international consortium of renowned e-mobility players plans to build
a resource mining plant for lithium-ion batteries on the Indonesian
island of Sulawesi. In concrete terms, the project reportedly involves
nickel and cobalt. Tesla, CATL, LG Chem, Daimler and Volkswagen aim to
participate in the consortium. - more
FLNKS questions president's role in saving New Caledonia's nickel plant
- New Caledonia's pro-independence FLNKS has questioned the role of the
president Thierry Santa on the commission tasked with saving the SLN
nickel plant. - more
Average wage at ferrochrome smelter will be $108,000 (first site
renderings) - Average wage at the Noront Resources Ltd. ferrochrome
processing facility in Sault Ste. Marie will be $108,000, Stephen
Flewelling, the company's chief development officer told a Sault Ste.
Marie audience on Friday. - more
What you need to know about Minnesota's PolyMet and Twin Metals mine
projects - If you live in Minnesota, you've probably been hearing about
the planned PolyMet and Twin Metals mines on the Iron Range. - more
Minnesota
lawmakers call for suspension
of all state permits for PolyMet copper-nickel mine - more
Clive Palmer paid $1 for Queensland Nickel, court told - Administrator
tells court the refinery was worth the same amount seven years later,
and was losing $1m a week - more
Palmer
takes ill as key witness in
Queensland Nickel trial bails - 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 25
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Thursday's trading session
at $6.60/lb . Indicators at 6:20 am CST today
show
nickel trading around $.24/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose for
only the second time this month and started today's session at 145,500
tonnes. Cancelled warrants remain in the 30% range. The nickel market
has entered the see-saw part of its latest run, where bulls and bears
play tog of war with the price. If the bears win, the bull run is over,
and if the bulls win, we have higher prices to come. Yesterday we got
the bounce of almost $400/tonne, that was after a $450 tonne drop on
Monday. Today, we are down around $550/tonne and it is only lunch time
in England. We have been getting e-mail's from readers, some bullish
with reasons why the higher trading price is justified, and others who
feel this bullish run is unjustified. The plain truth is both sides
make good points and both sides are right. The market is supposed to be
a source for establishing a far price based on market fundamentals and
economic news. You can decide whether that applies or not but this
latest bullish run began June 25th. There was no magical trigger that
started it, no huge decrease in stockpiles, no mine suddenly closed due
for whatever reason. Our best guess on why someone thought the market
was getting ready to turn was the G-20 meeting scheduled to start
that
weekend. A lot of people were hoping tis stupid trade war would end
and there were a very few were hoping for a surprise
announcement.
Well the surprise came, but it was an announcement the two would only
start talking again. Not exactly the news the market wanted to hear.
And if this was the lone trigger that started the run, the jump was so
extreme that it began to feed on itself. Analysts grasped for 'reasons'
and events happening were used as excuses to feed the rally. It wasn't
until the market reached $15,000/tonne, that the computers decided the
market has risen too fast, too quickly, and it was time to take some of
the money that the funds had invested late. Now fund managers are
nervous, as the market bounces up and down, and depending on whether
they decide to stick it out on long term hopes, or bail to take their
sort their profits, could decide whether this rally end or lives on.
This is our last update for the week, so we wish you a safe and
relaxing weekend and invite you back next week.
Average price of
cash nickel so far this
month
- $6.02/lb
Average price of
LME traded nickel in
first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Reports
Reuters metals
morning - Shanghai lead rises amid concerns on supply shortage - more
Stocks Rise With
Bonds Ahead of ECB, More Earnings: Markets Wrap - more
Thursday's market review - Copper
boosted by hopes
for end to U.S.-China trade war - Copper prices rose on Wednesday as
news that U.S. officials would travel to China next week to resume
trade talks helped to boost sentiment in industrial metals markets
under pressure from concerns over growth and demand. - more
Mining and metals group Eramet hopes for better second-half after weak
prices hit first-half results - Weak prices hit the first half results
of metals and mining company Eramet, although Eramet said it expected
its second-half results to show an improvement. - more
LME Prepares Rule That Would Reveal Huge Private Metal Stockpiles - The
London Metal Exchange is preparing a new rule designed to reveal the
huge stockpiles of metal held in private storage, shining a light on
one of the industry’s most opaque areas for the first time. - more
China's
lateritic nickel ore market to see 60,000 mt glut in 2019 – This year
is likely to see an oversupply of 60,000 mt of lateritic nickel ore
domestically, with estimated production of high-grade nickel pig iron
(NPI) at 510,000 mt and the overall imports of ore at 570,000 mt, SMM
forecasts. The readings are based on nickel content. - more
Cobalt, nickel, other battery metals face supply crunch by 2020s —
report - Growing global demand for batteries that power electric
vehicles (EVs) and high tech devices is set to cause a supply crunch of
lithium, cobalt and nickel by the mid-2020s, global consultancy Wood
Mackenzie predicts. - more
SLN future hinges on lower New Caledonia power price - The survival of
New Caledonia's SLN nickel company is being made conditional on the
company securing lower electricity prices for its smelter in Noumea. - more
Japan's Purchase Price of HC FeCr in Jul-Sept Down by US Cents 16 = US
Cents 112 per lb, which is affected by weak demand = Japanese stainless
steel mills have continued negotiation with multiple overseas
ferro-chrome producers to fix the purchase price of high-carbon
ferro-chrome for the period from July to September in 2019 and have
this time come to an agreement on the price to be down by US Cents 16
from the prior period. - more
Mining Executives Split on Who Bears Burden of Climate Change - The
mining industry is starting to split on who bears responsibility for
all the carbon emissions caused by smelting iron ore into steel. - more
'I think it's premature': Palmer camp cops fresh rebuke in court -
Clive Palmer and his legal team have been given another dressing down
in court, this time over an expert witness who has gone to Brazil. - 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 24
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Tuesday's trading session
at $6.43/lb . Indicators
at 6:20 am CST today show
nickel trading around $.12//b
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today just under the 145,100 tonne level. If you
like bungee cord rides, then today's market reaction will give you a
thrill. After dropping sharply on Monday, and some more on Tuesday, we
are getting a large bounce this morning. $6.43/lb appears to be
support for now, and resistance is up around the $15,000/tonne mark.
Considering the Euro is getting hammered by the Dollar, this movement
is stronger than it might appear. We notch yesterday's slight loss up
to the drop in the Euro, and if what is going on out here in the world
really matters to trading computers anymore, then nickel could be
getting a bounce from news that US officials will fly to China to
negotiate future face to face negotiations. Yes, you heard that right.
Not negotiating an end to this stupid trade war - to negotiate how and
when to meet in the future. Hopefully, something serious is going on by
phone and e-mail behind the scenes. Been a good news week.
Average price of
cash nickel so far this
month
- $5.99/lb
Average price of
LME traded nickel in
first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Reports
Reuters metals
morning - Base metals rise on progress in U.S.-China trade talks - more
Stocks Fall on
Weak Data, Tech Probe; Bonds Gain: Markets Wrap - more
Tuesday's market review - Nickel clings
to one-year
high, but rally seen as excessive - Nickel slipped on Tuesday and
analysts said prices that were still near one-year highs for the metal
used to make stainless steel were not supported by most fundamentals. -
more
Troubled Philippine nickel plant muddies Sumitomo Metal's outlook -
Repeated operational problems at Sumitomo Metal Mining's nickel
smelting site in the Philippines are threatening the company's
reputation as a cost-competitive producer, with its tanking stock
prices reflecting investor worries. - more
Boom possible: Demand for electric vehicles bodes well for nickel ...
and for Greater Sudbury - While nickel analysts expect the price of
nickel to dip again despite the impressive gains it has made in recent
weeks, demand for the metal is bright thanks to the increasing demand
for electric vehicles. - more
Taiwanese upstream stainless steel mills expected to raise prices again
due to rising nickel prices - The price of nickel on the London Metal
Exchange (LME) rose sharply recently, reaching US$15,115/ton last week,
which hit the new high since June 2018. - more
‘Investment in nickel production needs to happen now’ - Rather than
helping electric vehicle take-up by driving down costs to parity with
traditional engines, the low price of nickel at the moment is deterring
investors and could cause a supply shortage that holds back electro
mobility in a few years’ time. - more
Alloy Steel: Everything you need to know about alloy steels and their
role in building and construction industry - Steel is among the most
popular materials used in the construction industry. - more
Palmer QN trial team attacks expert report - Clive Palmer's legal team
at the Queensland Nickel collapse trial has attempted to blunt a
cutting expert report valuing the billionaire businessman's Galilee
Basin mining project as worthless. - 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 23
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Monday's trading session
at $6.49/lb. Indicators
at 6:20 am CST today show
nickel trading around $.03/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Monday and started today just under the 146,700 tonne level. It
appears, at least for now, the market has established $6.50/lb as
support, after a large drop. Technical signals are mixed and offer
little guidance. Some interesting reading linked below.
Average price of
cash nickel so far this
month
- $5.96/lb
Average price of
LME traded nickel in
first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Reports
Reuters metals
morning - LME base metals sea-sawed ahead of key policy meetings - more
U.S. Index
Futures Rise as Debt Deal Lifts Mood: Markets Wrap - more
Positive Indian
Ocean Dipole prevails; ENSO neutral - more
Monday's market review - Nickel slides from peak amid
profit-taking - Nickel prices fell overnight as speculators locked in
profits by liquidating bullish positions after the market surged to
levels not supported by current supply-demand fundamentals. - more
Nickel’s Spike Isn’t Over Yet for Citi as LME Stockpiles Dwindle - One
of nickel’s most powerful rallies this decade has room to run at least
in the short-term, according to Citigroup Inc., which says an unusual
trading structure on the London Metal Exchange -- specifically tight
supply showing up on forward contracts -- is fueling gains. - pdf here(this
article is from last week but contains something worth noting - there
is a comment made in this article that I take serious issue with -
"That view is bolstered, he said, by the fact that the LME appears to
be leading the Shanghai Futures Exchange, rather than the other way
around." - Having followed nickel, and nickel only, daily for over 10
years, I can say that the Shanghai Metals Market nearly 'always'
follows the LME, both in bear and bull markets. This is something I
have noted before.)
Guatemala court upholds request to suspend work at huge nickel mine -
Campaigners say full consultation was not carried out before 2014
reopening of European-owned Fenix site - more
China to impose anti-dumping tax on stainless steel from Indonesia, EU,
Japan, South Korea - China said on Monday it will impose anti-dumping
duties on some stainless steel products imported from the European
Union, Japan, South Korea and Indonesia. - more
73% Of xEV Battery Nickel Deployment Falls On China, U.S. & Japan -
Currently, the long-range BEVs use lithium-ion cells mostly with
nickel-based cathodes. - more
Palmer search for expert witness hits snag - Clive Palmer's tardy
efforts to find a replacement insolvency expert to testify at the
Queensland Nickel trial has earned another rebuke from the judge. - more
The big refinery in the middle of a Welsh village that has kept a
community alive for a century - People have met their future partners
there and almost everyone in Clydach in the Swansea Valley has some
kind of link with the refinery they call 'The Mond' - more
Courtesy AISI - In the week ending on July 20, 2019, domestic raw steel
production was 1,872,000 net tons while the capability utilization rate
was 80.4 percent. Production was 1,838,000 net tons in the week ending
July 20, 2018 while the capability utilization then was 78.4 percent.
The current week production represents a 0.3 percent increase from the
same period in the previous year. Production for the week ending July
20, 2019 is up 1.1 percent from the previous week ending July 13, 2019
when production was 1,867,000 net tons and the rate of capability
utilization was 80.2 percent. - more
Morning Nickel
Price Statistics & Figures
Today's almost
official prices here / Yesterday's
actual LME official prices here or here
Shanghai
Jinchuan nickel price -
available here
or here(updated)
Please
let us know if any of
these
links stop working, stop carrying info, or become available to
subscriber's only. We encourage our readers to use the services of
those companies who supply news and information free of charge.Contact us
Monday,
July 22
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Friday's trading
session at $6.69/lb. Indicators
at 6:20 am CST today show
nickel trading around $.14/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Thursday and Friday and start the week just over the 147,600 tonne
level. Nickel finally hit some serious
resistance last week, when it was unable to hold above the $15,000
tonne
level on both Thursday and Friday. The traded price is still back
tracking today, but it is too early to say the bull has been corralled.
Anyone who has followed the market the last few weeks knows what
volatility means, and that continues, just on the correction side
today. The market has risen too fast and needs to take a breath if it
is too maintain its health. This kind of extreme price change has a
negative affect on nickel users, as those who can, will now hold off
and try to 'time' their large purchase to coincide with the dips. Next
week or next month, they will know when the best time to buy 'was', but
today, and tomorrow - it's a crap shoot. A whole lot of money has
flowed into nickel over the past few weeks and if they start to suspect
this price ascent was a one run wonder, we could see them change their
bets to shorts. On the other hand, the highest nickel has traded
at since January 2015, was on January 5th, 2018, when it traded
for $15,292.50. If this bullish run is able to climb above that level,
and it got close last week, then we are trading in territory we haven't
seen for 5 years (2014). That in itself, is probably spooking some in
the market. Lot of news below but he one that interests us the most is
the one from Reuters about Tsingshan. We have heard the estimates about
Chinese stainless steel production being up around 10% this year, but
nothing official. This article starts to confirm those estimates with
some cold facts about their purchasing, lending evidence. With EV
consumption growing, news that stainless steel production is way up
anywhere in the market, especially nickel hungry China, is going to
lend itself to higher nickel prices. Lot of stats out there but the one
single number that everyone is watching are the LME stockpile
numbers.
On this day last year LME showed 260,718 tonnes. One year before
that
the total stood at 375,240 tonnes. Today we are 147,600+ tones. That is
a very dangerous pattern the industry finds itself in. Where it will
stand on July 22, 2020 offers a rather frightening scenario based
on
the last few years. No one know where the market will go tomorrow, or
why the market does what it does on a daily basis. The technicals for
nickel have been bullish for a long time, so why the large trading
houses decided a few weeks ago was time to make a run for the border,
remains a mystery. But for the long haul, the forecasted outlook lends
itself to higher prices for the future. With that cheery forecast, we
hope you have a great week.
Average price of
cash nickel so
far this month
- $5.92/lb
Average price of
LME traded nickel
in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Reports
Reuters metals
morning - Nickel falls from 13-month high as buying spree pauses - more
U.S. Futures,
Treasuries Edge Higher; Oil Advances: Markets Wrap - more
Friday's market review -
Nickel's spectacular rally
hits buffers, but copper soars - Nickel prices fell on Friday as a
two-week explosion of buying which helped push the metal used in
stainless steel to its highest in more than a year appeared to run out
of steam. - more
New Caledonia leaders worried about SLN - New Caledonian political
leaders have raised the alarm over the loss-making SLN nickel company
which is the biggest private sector employer. - more
Exclusive: China's Tsingshan roils nickel market with buying spree -
Chinese firm Tsingshan Holding Group has been buying large quantities
of stainless steel ingredient nickel on the London Metal Exchange (LME)
to supplement its own output, two sources familiar with the matter
said. - more
Nickel — Mining's Sprite - The price of nickel has improved in H1 2019
after a dire second half of 2018, but the metal is not out of the woods
yet, and its prospects are increasingly being split between class-1 and
class-2 metal. - more
Indonesia will enforce 2022 ban on raw mineral ore exports: official -
A senior Indonesian mining ministry official pledged on Thursday that
authorities would enforce a ban on the export of raw ore exports by
2022 to make miners process minerals in the country. - more
Market Trend of Import of Ferroalloy as of 12 July 2019 = China
National Day may affect shipment and production because of 70th
anniversary of National Foundation = This year, China will reach 70th
anniversary of National Foundation, and China National Day (1st to 7th
of October) is forecast to become a large-scale event. - more
Suppliers seek stainless steel scrap sales to Indonesia - More
stainless steel scrap suppliers are targeting sales into Indonesia,
where consumption could rise as the Tsingshan-owned mill at Sulawesi
ramps up production. - more
Nickel miners plant 5.3 million trees in Caraga and Palawan - The
Philippine Nickel Industry Association, through its seven
member-companies, has once again boosted greening efforts as part of
ongoing rehabilitation and reforestation in their respective mining
areas. - more
Twin Metals to use dry stack tailings at copper-nickel mine - Twin
Metals Minnesota is set to use a more environmentally friendly dry
stack method for storage of leftover rock from its planned underground
copper-nickel mine. - more
Adamas: China, US and Japan drove 73% of electrified vehicle battery
nickel deployment in May 2019 - In May 2019, 73% of all nickel metal
equivalent (NME) deployed in passenger electrified vehicle batteries
globally went into vehicles sold in China, the US and Japan,
collectively, according to Adamas Intelligence’s latest ‘EV Battery
Nickel Monthly’ report. - more
Palmer's former Queensland Nickel workers facing shock tax bill -
Former Queensland Nickel workers who claimed unpaid entitlements from a
$7 million fund Clive Palmer established before the federal election
are now facing the prospect of hefty tax bills. - 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 18
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Wednesday's trading
session at $6.55/lb. Indicators
at 6:25 am CST today show
nickel trading around $.15/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and started today just over the 148,200 tonne level. While
other base metals reacted to another warning from President Trump about
more tariff's on China, nickel continued its bullish run. This morning,
after a warning from a Reuters analyst who used to work at the London
Metal Exchange, that the whole Indonesia future nickel ban topic is
unfounded, appears to have shaken the market - no, sorry, our mistake.
Today, in fact, the bull run continues unchecked, as more and more
money pours in as investors look for their piece of this sudden
bonanza. Still looking for last years high as offering some sort
of
resistance, but at this point, nothing appears to be in the way of this
bull. Our last update of the week, so enjoy your weekend and we invite
you back next week as we chase the bull.
Average price of
cash nickel so far this
month
- $5.82/lb
Average price of
LME traded nickel in
first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Reports
Reuters metals
morning - Nickel strikes 1-yr highs as rally picks up speed - more
Global Economy
Threats Prompt Cautious G-7 Pledge on Fiscal Aid - more
Stocks Drop on
Earnings, Trade Angst; Dollar Slips: Markets Wrap - more
Wednesday's market review - Copper tumbles from
two-week peak as Trump renews China tariff threat - Copper retreated
from a two-week high on Wednesday after U.S. President Donald Trump
threatened to impose further tariffs on China, a move which could dent
demand for metals. - more
Nickel jumps but fear of Indonesia export ban is unfounded: Andy Home -
Nickel is enlivening an otherwise torpid summer for the base metals
complex. - more
WBMS Press Release July 2019 - The nickel market was in deficit during
January to May 2019 with apparent demand exceeding production by 57.3
kt. In the whole of 2018 the calculated deficit was 91.3 kt. - 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 17
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Tuesday's trading session
at $6.39/lb. Indicators
at 6:20 am CST today show
nickel trading around $.08/lb . Nickel is now trading in
territory it has
not in over a year. Analysts can argue about what started this bull
run, but the $14,000/tonne level fell less than a week after the
$13,000 tonne level did. Users look for answers in times like this, and
frankly, there are none to be had. The bull run is now feeding on
itself, as more and more investment dollars pour in, as investors look
to get their piece of the action. These are uncomfortable times for
downstream users [nice way of phrasing that, eh?]. These are days when
manufacturers give quotes with a warning they might only last as long
as the phone call does. Next major resistance,
if we can call it that, would be the 2018 high of $6.94/lb. That rally
had started in May 2017, on future production fears and potential
shortages based on EV projections - a rally that gave out a year later,
on May 1, 2018. Nothing actually changed, except maybe the US and China
not playing well in the sandbox; something that really has yet to
change back. It is worth noting that on July 16th of last year,
LME
nickel stockpiles recorded 263,298 tonnes. Stockpiles fell yesterday
and started today just under the 148,400 tonne level. They have fallen
by not quite a half, but for anyone following the market over a long
period of time (this site is over 10 years old), it is VERY concerning.
A reminder for those new to the industry. On May 16, 207, cash nickel
traded for $24.58/lb. Can it get worse than that? Well not many people
were talking about EV back then, so yes .... yes it could. Let's hope
it doesn't. Cancelled warrants fell under the 30% range yesterday, for
the first time since January. This is a number tat used to mean
something, but far less today.
Average price of
cash nickel so far this
month
- $5.77/lb
Average price of
LME traded nickel in
first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Stocks Nudge
Higher Amid Earnings; Dollar Steady: Markets Wrap - more
Tuesday's market review - Nickel jumps
to one-year
peak on industrial and fund buying - Nickel prices surged to their
highest in a year on Tuesday, propelled by buying from speculators and
industrial consumers worried about potential future shortages. - more
Global nickel prices surging - Nickel prices surged to their highest in
a year on Tuesday, propelled by buying from speculators and industrial
consumers worried about potential future shortages. - more
Resilient nickel rallies through macro noise - “The macro is trumping
the micro” has been a near-constant refrain in metal markets this year
as concerns about the impact of the US-China trade spat on global
growth have outweighed robust supply and demand fundamentals. However,
one industrial metal is managing to buck the trend — nickel. - more
Tsingshan Indonesia increases stainless steel prices again - The London
Metal Exchange's (LME) nickel price increased sharply these days.
Stimulated by the high nickel price, global stainless steel giant
Tsingshan Indonesia had announced to increase its stainless steel
export price by US$30/ton on July 16th. - more
Special Steel Demand Forecast in Jul-Sept 2019 = Remains almost
unchanged from year-earlier period = On
July 9, the Ministry of Economy, Trade and Industry made clear its
demand forecast about special steel products in the period from July to
September in 2019 in the lecture made in the Special Steel Association
of JAPAN. - more
Hitura nickel mine cleanup effort to cost state €16m - Finnish
authorities have earmarked 16 million euros towards the cleanup and
closure of a nickel mine that has been sitting dormant since 2015 for
lack of a buyer. - more
Clive Palmer pays $135m in nickel cash to his wife - Clive Palmer's
Queensland Nickel made a string of "extraordinary transactions" only
days before it collapsed owing debts of more than $200 million, a court
was told. - 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 16
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Monday's trading session
at $6.20/lb . Indicators
at 6:25 am CST today show
nickel trading around $.10/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
below the 150,000 tonne level on Monday, and now total just over the
149,300 tonne level. Nickel ripped thru major reistance this morning
and now is trading at a 2019 high. Reuters is now convinced the reason
for the run is the news out of Indonesia about an export ban possible
for 2022. If you believe that, we have some ocean front property in
Kansas to sell you The bull continues to run wild and no attempt to
lasso him has proved effective.
Average price of
cash nickel so far this
month
- $5.72/lb
Average price of
LME traded nickel in
first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb /
2016 - $4.36/lb /
Reports
Reuters metals
morning - Nickel surges to 11-mth high on funds buying - more
U.S., Chinese
officials to discuss trade
in phone call this week -Mnuchin - more
Stocks Fluctuate
as Big Banks Report; Dollar Gains: Markets Wrap - more
Monday's market review - Copper hits
two-week high;
gains capped by demand doubts - Copper prices touched two-week highs on
Monday as better than expected industrial output and investment data
from top consumer China boosted sentiment, though gains were capped by
the protracted U.S.-China trade dispute. - more
The Stainless Steel Industry Struggles Amid Global Protectionism - The
world's stainless steel (SST) industry has been struggling for survival
amid anti-dumping (AD) and safeguard measures being implemented across
the globe. - more
India Investigates AD Duty on SUS Rolled Products from 15 Countries =
HS Codes are 7219 and 7220 = Last week, the Ministry of Commerce and
Industry of India announced that it would start to investigate the
imposition of the antidumping duty (AD duty) on flat rolled products of
stainless steel imported from a total of 15 countries such as Japan,
China, South Korea, Taiwan, Indonesia, EU, USA, Thailand, South Africa,
UAE, Hong Kong, Singapore, Mexico, Vietnam and Malaysia (As the number
of member countries of the EU is 28, a total of 42 countries are
indirectly intended). - more
Courtesy AISI - In the week ending on July 13, 2019, domestic raw steel
production was 1,867,000 net tons while the capability utilization rate
was 80.2 percent. Production was 1,838,000 net tons in the week ending
July 13, 2018 while the capability utilization then was 78.4 percent.
The current week production represents an 1.6 percent increase from the
same period in the previous year. Production for the week ending July
13, 2019 is up 1.1 percent from the previous week ending July 6, 2019
when production was 1,847,000 net tons and the rate of capability
utilization was 79.4 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 15
Daily Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Nickel closed
yesterday's trading session at $6.11/lb. Indicators at 6:15 am CST today show
nickel trading around $.01/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Thursday and Friday and started the week just over the 150,300 tonne
level. We expect the inventory level to fall below the 150,000 tonne
level this week, which we would have expected to send a shock wave of
bullish sentiment thru the market - but that's a mute point now. For
the first half of July the rate of decline in LME nickel stockpiles
have been an average of 1,418 tonnes per day. At that rate, if it were
to continue, the nickel stockpiles would be depleted in 106 business
days - or 21 weeks. There is no reason to believe this level of
depletion will continue at this rate, but once again, we are reminded
how little inventory there is out there - and we are in the typically
slow months for nickel demand. Signals out of China are mixed. Some
really want the Trump tariffs to be biting so their analysis is skewed.
Others want exactly the opposite to be true. It's hard to figure out
what is really going on in China when all analysts agree, but now
politics is making that chore harder. The market is taking a
breath
this morning and is only $200/tonne from reaching its high for the
year, and about $550/tonne south of a new 12 month high. At this point,
anyone trying to predict where the market is going is simply taking a
shot in the dark. Downstream users of nickel, including stainless steel
and EV battery producers, are guaranteed higher prices in the near
future - if they aren't already getting bit. It's a new week -
may it
be a successful one for you.
Average price of
cash nickel so far this month
- $5.68/lb
Average price of
LME traded nickel in first
half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 -
$4.36/lb /
Reports
Reuters metals
morning - Shanghai nickel hits 10-1/2-month high on Indonesian supply
concerns - more
China’s Growth
Slides to Weakest Pace in Almost Three Decades - more
China Sets
Commodities Records in Good Sign for Growth - more
Stocks Trade
Mixed Before Earnings, Fed Speakers: Markets Wrap - more
Yesterday's market review - Nickel hits
four-month
peak on Indonesia concerns - Nickel prices touched their highest in
four months on Friday on worries that major producer Indonesia will
resume an export ban on ore in 2022. - more
EV slowdown, nickel price rally to dent demand for refined nickel - The
Chinese energy vehicle sector’s demand for refined nickel is expected
to reduce a maximum of 14,000 mt in Ni content in the second half of
this year, in anticipation of a slowdown in consumption of EV battery
materials in the third quarter after the government significantly
scaled back subsidies to the sector. - more
China iron ore, coke rise on demand outlook; steel rebounds - China’s
iron ore and coke prices rose on Monday on expectations of an increase
in demand for both steelmaking inputs, while steel futures rebounded
from three-week lows touched earlier in the session. - more
Panoramic faces ongoing hurdles in Savannah ramp up - Panoramic
Resources’ ramp up of the Savannah nickel project in Western Australia
has progressed well during the June quarter, despite not yet reaching
its budget rates. - more
South African Billionaire Patrice Motsepe And Norilsk Nickel To Shut
Down Nkomati Mine - South African billionaire Patrice Motsepe is
shutting down a struggling mining asset his African Rainbow Minerals
co-owns with Norilsk Nickel of Russia. - more
Nkomati nickel
mine closure could cost
thousands their jobs - more
Clive Palmer liquidation trial already delayed - It took 1179 days,
three judges and countless adjournments to get Clive Palmer into court
for a trial over the collapse of Queensland Nickel and already it has
been delayed. - 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 11
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
yesterday's trading
session at
$5.89/lb. Indicators at 6:20 am CST today show
nickel trading around $.05/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and started today just over the 153,400 tonne level. The bull
run continues and every reason you can think up for why, applied to the
market in March, when the last bull run soured. If you like running
with the bulls, there is money to be made. When the bull stops, and you
don't, you will find out why is a risky proposition. Please notice we
have updated our average
price of LME traded nickel line to include the first half of 2019. As
you can see, the average price of cash nickel dropped from 2018. Sales
of EV for June came in at an estimated 37,800, which compares to 25,000
last year. This the best sales month this year as well as the largest
increase in sales from last year. Worldwide sales thru May, show an
estimated increase from 159,300 to 179,300 vehicles. Nickel is trading
over the $13,000 tonne level for the first time since April, and while
overbought, it does not appear traders have any intention of slowing
down. This is our final update for the week. We thank you for bearing
with us as we suffered a computer crisis last week, and hopefully,
things appear to be slowly getting back to normal. Enjoy your weekend
and we invite you to join us next week.
Average price of
cash nickel so far this
month
- $5.62/lb
Average price of
LME traded nickel in
first half of 2019 - $5.59/lb / 2018
- $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /
Reports
Reuters metals
morning - Copper rises on
weaker dollar amid dovish Fed comments - more
Did the Value of
a College Degree Decline during the Great Recession? - more
Mining Asteroids
for Metal Powders and
Alloys - more
Stocks and Bonds
Advance as Rate-Cut Bets
Gather Steam - more
Yesterday's market review - Base
metals head higher on hopes of trade deal, U.S. rate cut -
Industrial metals prices rose sharply on Wednesday after U.S. and
Chinese negotiators opened a new round of trade talks and Federal
Reserve Chairman Jerome Powell bolstered expectations of a U.S.
interest rate cut later this month. - more
Stainless Steel Production decreases by 2 5 to 12 5 Million Tons in the
first three Months of 2019 - Brussels
09 July 2019 – The International Stainless Steel Forum (ISSF) has
released figures for the first three months of 2019 showing that
stainless steel melt shop production decreased by 2.5% year–on–year to
12.5 million metric tons. - more
Trade
war fatigue saps global base metals activity: Andy Home - The base
metal markets are suffering from trade war fatigue. - more
Indonesia’s
ore export ban to boost NPI exports - Nickel pig iron is expected to
replace nickel ore as major raw materials that are exported from
Indonesia to China for nickel and stainless steel production, as
Indonesia will stop mineral exports in 2022. - more
Dates for
Sudbury inquest into Lockerby Mine deaths set - A date for the inquest
of two men killed at a Sudbury mine five years ago has been set. - 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 10
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
Tuesday's trading session
at $5.76/lb. Indicators at 6:20 am CST today
show
nickel trading around $.08/lb higher.
Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday
and started today's session just over the 153,600 tonne level. Since
you are running with the nickel bulls in London, have you escaped
getting gored yet? The run continues and if you aren't trying to get
out of the way, you had better be trying to outrun them. If you are
standing still ..... well, that can be rather dangerous. The bears are
on the sidelines watching for their moment, which at the moment, does
not appear to be in the immediate future. Stainless steel prices are
heading north thanks to this bullish run, and depending on how high it
goes, or long it lasts, will determine how big a bite it will take.
Nickel is now trading as high as it was in mid April, with about $750
tonne separating it from a new 2019 high. You are better off not trying
to understand what is going on. Nothing magically changed a month ago,
when prices apparently bottomed out for the summer. This daily news
site has been running for over 10 years and we have seen this happen
many times before. Depending on what part of the supply chain you rest,
higher nickel prices can be good news - or not so good news. Downstream
users, like stainless steel producers and users, will see their cost
increase - that's a given. This means your stainless steel inventory is
worth more today than it was yesterday, ad those who react accordingly,
will benefit. If you don't, you set yourself to loose twice - once as
prices go up, and again, as prices drop and your over priced inventory
takes up space. So - it's time to run with the bulls, or take a seat on
the sidelines.
Average price of
cash nickel so far this
month
- $5.59/lb
Average price of
LME traded nickel in in
2018
- $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals
morning - Base metals rise on trade talk hopes, nickel at 3-month high
- more
Bonds Fall,
Stocks Drop Ahead of Powell Testimony: Markets Wrap - more
Tuesday's market review - Copper extends losses as markets await
firm U.S.-China deal - Copper fell to a three-week low on Tuesday even
as talks resumed between the United States and China in an effort to
resolve the long-running dispute that has sapped metals demand. -
more
Russia: metal imports down in January-May 2019 - In January-May
Russia’s imports totaled $94.5 billion, down by 1.5% YoY. - 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 9
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed
yesterday's trading
session at $5.77/lb. Indicators
at 6:20 am CST today show
nickel trading around $.03/lb lower. Stockpiles of nickel
stored in LME licensed warehouses fell
on Monday and started today just over the 154,100 tonne level. Nickel
prices continue to rise, although we still have quite a way to go
before we see a new annual high. Still finding no real reason for this
bullish run. Inventories are a concern again, and the 150,000 tonne
level could be psychologically important. The inventory situation has
been a story for months though, so not sure what triggered things to
change the last week of June. Still learning a new program here so
please bear with us.
Average price of
cash nickel so far this
month
- $5.57/lb
Average price of
LME traded nickel in in
2018
- $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals
morning - Copper extends
declines on bearish China demand - more
U.S. Futures,
Europe Stocks Slide;
Treasuries Dip: Markets Wrap -
more
Positive Indian
Ocean Dipole likely to be dominant Australian climate influence - more
Yesterday's market review - Copper
slides as focus shifts to U.S.-China trade dispute - Copper prices
slipped on Monday as sentiment was dominated by the protracted
U.S.-China trade dispute and subsequent damage to global growth and
demand, and a stronger dollar. - more
Chinese stainless steel output up in Jun y-o-y - According to the
statistics, Chinese stainless steel output was around 2.34 million tons
in June, down by 2.34% month on month, up by 23.73% year on year. - more
Philippines sets second round of mining industry audit - The
Philippines’ Mining Industry Coordinating Council (MICC) will
undertake the second round of its “objective, science-based, and
fact-finding” audit of local mining operations starting in the last
week of July, Finance Undersecretary Bayani Agabin said on Tuesday. - more
Arctic’s biggest air-polluter distributes $3,7 billion in 2018 cash
dividends to owners - The annual General Meeting of Shareholders in
Norilsk Nickel approved the final dividends for 2018 at 792,52 rubles
($12,25) per ordinary share, in total about $1,9 billion. This comes in
addition to the interim dividends of $1,8 billion already set aside for
the first six months of 2018. - more
Courtesy AISI - In the week ending on July 6, 2019, domestic raw steel
production was 1,847,000 net tons while the capability utilization rate
was 79.4 percent. Production was 1,815,000 net tons in the week ending
July 6, 2018 while the capability utilization then was 77.4 percent.
The current week production represents an 1.8 percent increase from the
same period in the previous year. Production for the week ending July
6, 2019 is down 0.2 percent from the previous week ending June 29, 2019
when production was 1,851,000 net tons and the rate of capability
utilization was 79.5 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
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Monday, July 8
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed Friday's
trading session at $5.66/lb . Indicators
at 6:25 am CST today show nickel trading around $.05/lb higher. Stockpiles of
nickel stored in LME licensed warehouses have returned to the loss
column for the year and start the week just over the 154,700 tonne
level. Nickel looked like it might lose all the gains it made the last
week of June, but has recovered and the market is closing in on its
June 28th high. Still no real reason for this bullish bump, but there
rarely is since fundamentals came to mean so little in the trading
world. We are struggling to get back up to 100% and right now we are
learning a new computer and trying to recover a bunch of lost links we
check daily. We apologize for the difficulty and hope to get back on
track soon.
Average price of cash
nickel so far this month - $5.55/lb
Average price of LME
traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb
/ 2015 - $5.37/lb /
Reports
Reuters metals morning
- Copper gains limited by prolonged U.S.-China trade dispute - more
What Just Happened
Also Occurred Before The Last 7 U.S. Recessions. - more
U.S. Futures, Europe
Stocks Struggle; Gold Climbs: Markets Wrap - more
Friday's market review - Copper under dollar pressure as the
metal has biggest weekly fall since May - Copper fell on Friday
and logged its biggest weekly fall since May as the dollar hit an over
two-week high and inventories in London Metal Exchange (LME) warehouses
rose. - more
U.N. deep sea mining body rejects Greenpeace criticism - The
International Seabed Authority (ISA) has rejected criticism from
Greenpeace over its handling of ocean mining, fuelling a spat that
threatens to overshadow talks this month by the U.N. body towards rules
for deep sea mining. - more
U.S., Europe increasingly anxious about shortage of battery
materials, supplier says - Key players in battery production including
automakers and trading houses from North America to Europe are becoming
increasingly concerned about future shortages of key materials needed
for electric vehicle batteries as production soars, according to an
Australian supplier. - 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
System crash took us offline until July 8
Monday, July 1
Daily
Nickel/Stainless Steel Briefing(7:00
AM CST is 12 PM in London)
Nickel closed Friday's
trading session at $5.76/lb. Indicators at
6:20 am CST today show nickel trading around $.13/lb lower. Stockpiles
of nickel stored in ME licensed warehouses fell on Thursday and Friday
and end the month of June just under the 161,700 tonne level. For the
month of June, and for the first time since August 2017, LME nickel
stockpile numbers grew, and averaged a net gain of 129 tonnes per day.
The last week and a half of the month, the market saw declines
resuming, but not enough to offset earlier gains. It will be
interesting to see if we see a similar outcome this month. We would
have bet money last week that the average price of nickel could not get
back to the $12,000 tonne level for June and if we had made such a bet,
it would been a heart stopping last few days. The average ended just
$30 tonne shy but this would due to a remarkable jump in the
trading price on Thursday, followed by a steady Friday. For those who
believe the market can be manipulated, the decline today would appear
to verify a theory that last weeks sudden jump was little more than
'cooking the books'. Nickel closed the last day of 2018 at $10,690
tonne. It had fallen back to $11,620 tonne earlier in June and started
last week at $12,190. This solidified the claim that nickel was the
largest gainer in the base metals market for the first half of 2019,
but that whole fall from $13,799 tonne since March was overhanging an
otherwise rosy picture. A unexplainable spike to $12,710 could help
those presentation numbers. Today we start the second half of the year,
and its anyone's guess where it will go. One would like to think that
the US and Chinese will reach some sort of trade agreement and this
weight will be lifted from the future. But if they do that will be in
the future because for the time, they have agreed to talk again,
something the President tweeted earlier last week. US markets will be
closed Thursday for Independence Day celebration. Have a great week!
Average price of cash
nickel so far this month - $5.43/lb
Average price of LME
traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb
/ 2015 - $5.37/lb /
Reports
Reuters metals morning
- LME copper touches 6-week peak on U.S.-China trade truce - more
Stocks Climb Globally
on Trade Truce; Oil Jumps: Markets Wrap - more
Friday's market review - Copper under pressure, has largest
quarterly fall since 2015 - Copper prices were steady on Friday ahead
of a meeting of G20 leaders but recorded their worst quarterly
performance since 2015 due to the protracted U.S.-China trade dispute
which has undermined growth and demand. - more
Nickel Monthly News For The Month Of June 2019 - Nickel spot prices
were flat in June, and the LME inventory was also flat and remains at a
7-year low. - more
Taiwanese stainless steel wire rod imports down, exports up in May
m-o-m - According to the statistics from Taiwan Customs, Taiwan
imported a total of around 1,400 tons of stainless steel wire rod in
May, dropping by 33% compared to the previous month. - more
The Dangers Of Transporting Nickel Ore Cargoes – A Timely
Reminder - Your Managers are very grateful to Pandiman Philippines
Inc., the Club’s correspondents in Manila, who have provided the
following reminder of the hazards associated with the carriage of
nickel ore, as the seasonal export of this dangerous cargo from the
Philippines gets underway. - more
Stainless Steel Technology Race in East Asia Intensifies - Since the
birth of Chinese-Indonesian ITSS (PT Indonesia Tsingshan Stainless
Steel), the technological race among major stainless steel (SST) makers
in East Asia has intensified. - 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
7 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
nickel trading around $.01/lb 
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today's session, just over the 143,600 tonne level.
Yesterday was a 'nothing happened' day for LME nickel, with stockpiles
the prior day not moving, and with yesterday' closing doing much the
same. Today, the holding pattern continues with a mother load of
economic data flooding the markets. Today the US Fed is expected to cut
their interest rate today, for the first time in a decade. The market
expects it, and has been beating on it for a week. Rate cuts are made
to either calm down weary markets, or juice the economy. Neither of
these seem necessary at the moment, so we will be interested in reading
the reasoning behind this move later today. The Euro is trading near
its low for the year against the US Dollar. PMI's are being published
over the next days and we will get a better idea of what the trade war
is doing to the world economies. Speaking of the trade war, talks have
apparently ended in Shanghai and apparently went as well as talks with
North Korea have gone recently. 
Reports 
Commodity/Economic Comments 
Tuesday's market review - Lead prices
slip on
rising stockpiles and weak factory output - Lead prices fell on Tuesday
after large deliveries of metal into London Metal Exchange (LME)
warehouses eased supply concerns and poor economic data pointed to
weakening demand. - 
Analysts cut copper forecasts on worries about Chinese demand: Reuters
poll - The LME cash price of nickel, which is mainly used to make
stainless steel, is expected to average $12,738 a tonne in the fourth
quarter, down 11% from Monday’s close. -
Chinese AD ruling on stainless steel products benefits development of
stainless steel industry in China - The Ministry of Commerce of the
People's Republic of China (MOFCOM) had announced to levy the
anti-dumping duty tariff on imported stainless steel billets and
stainless steel hot-rolled plates from the EU, Japan, South Korea and
Indonesia started from July 23rd, 2019. - 
Zim imports bill increases by US$88 million as exports decline 6 % -
Zimbabwe's import bill has increased by US$88 million while at the same
time exports have plunged 6% that Reserve Bank of Zimbabwe (RBZ) has
reported. - 
78 persons arrested for vandalising factory, assaulting cops - A total
of 78 people have been arrested for allegedly vandalising an industrial
unit in Ganjam district and also assaulting cops, police said on
Wednesday. - 
lower. Stockpiles of nickel stored in LME licensed warehouses went
unchanged on Monday and remain just under the 144,00 tonne level.
Nickel bounced yesterday, then set into a holding pattern just
under
the $6.50/lb level. It is slightly fading so far this morning. It
appears Ravensthorpe is going to give it another try. It closed for a
second time in October 2017, putting 270 people out of work, but is
looking to fire operations bank up on hopes the traded price of nickel
will stay higher. Ravensthorpe as built by BHP, who lost billions on
the project, and was purchased by First Quantam in 2009. In its day,
Ravensthorpe was classified as one of the mega mines that would rescue
the world from a global deficit situation. Its timing was a little late
however, and it opened after nickel prices had cratered as the deficit
situation was relieved by other mega mines opening sooner. The news of
its reopening is a double edged sword. When its back to full
production, its output will help alleviate some of the deficit
situation the world finds itself in again, but the cost of reopening
the mine is a huge financial commitment by its owners, who obviously
feel higher nickel prices are here to stay for awhile. The long term
trend for nickel looks positive, while the daily trend can give one a
headache. The second half of 2019 has started much the same as the
first half started. Nickel bottomed out on December 31, 2018 and rose
until March 5th, when it lost much of those gains. This run began
July
2nd, and time will tell how it turns out. 
Ravensthorpe nickel mine set to re-open a third time amid soaring
demand for the metal - The owners of the mothballed Ravensthorpe nickel
mine in Western Australia's south-east says it will move to re-open the
site if surging demand for the metal continues. - 
Courtesy AISI - In the week ending on July 27, 2019, domestic raw steel
production was 1,884,000 net tons while the capability utilization rate
was 80.9 percent. Production was 1,838,000 net tons in the week ending
July 27, 2018 while the capability utilization then was 78.4 percent.
The current week production represents a 2.5 percent increase from the
same period in the previous year. Production for the week ending July
27, 2019 is up 0.6 percent from the previous week ending July 20, 2019
when production was 1,872,000 net tons and the rate of capability
utilization was 80.4 percent. - 
Billionaire’s €165 million superyacht Barbara spotted in Monaco - The
88.5-metre superyacht Barbara built by Dutch yard Oceanco in 2017, has
been captured in the waters of Monaco last week. - 
June 2019 crude steel production - World crude steel production for the
64 countries reporting to the World Steel Association (worldsteel) was
159.0 million tonnes (Mt) in June 2019, a 4.6% increase compared to
June 2018. - 
Taiwanese Yusco greatly hikes stainless steel prices for Aug - Yieh
United Steel Corp. (Yusco), the largest integrated stainless steel mill
in Southeast Asia, announced its stainless steel prices for August
today (July 29th). - 
Indonesia: International consortium seeks nickel & cobalt - An
international consortium of renowned e-mobility players plans to build
a resource mining plant for lithium-ion batteries on the Indonesian
island of Sulawesi. In concrete terms, the project reportedly involves
nickel and cobalt. Tesla, CATL, LG Chem, Daimler and Volkswagen aim to
participate in the consortium. - 
FLNKS questions president's role in saving New Caledonia's nickel plant
- New Caledonia's pro-independence FLNKS has questioned the role of the
president Thierry Santa on the commission tasked with saving the SLN
nickel plant. - 
Mining and metals group Eramet hopes for better second-half after weak
prices hit first-half results - Weak prices hit the first half results
of metals and mining company Eramet, although Eramet said it expected
its second-half results to show an improvement. - 
Cobalt, nickel, other battery metals face supply crunch by 2020s —
report - Growing global demand for batteries that power electric
vehicles (EVs) and high tech devices is set to cause a supply crunch of
lithium, cobalt and nickel by the mid-2020s, global consultancy Wood
Mackenzie predicts. - 
Japan's Purchase Price of HC FeCr in Jul-Sept Down by US Cents 16 = US
Cents 112 per lb, which is affected by weak demand = Japanese stainless
steel mills have continued negotiation with multiple overseas
ferro-chrome producers to fix the purchase price of high-carbon
ferro-chrome for the period from July to September in 2019 and have
this time come to an agreement on the price to be down by US Cents 16
from the prior period. - 
Troubled Philippine nickel plant muddies Sumitomo Metal's outlook -
Repeated operational problems at Sumitomo Metal Mining's nickel
smelting site in the Philippines are threatening the company's
reputation as a cost-competitive producer, with its tanking stock
prices reflecting investor worries. - 
Nickel’s Spike Isn’t Over Yet for Citi as LME Stockpiles Dwindle - One
of nickel’s most powerful rallies this decade has room to run at least
in the short-term, according to Citigroup Inc., which says an unusual
trading structure on the London Metal Exchange -- specifically tight
supply showing up on forward contracts -- is fueling gains. - 
Guatemala court upholds request to suspend work at huge nickel mine -
Campaigners say full consultation was not carried out before 2014
reopening of European-owned Fenix site - 
Hitura nickel mine cleanup effort to cost state €16m - Finnish
authorities have earmarked 16 million euros towards the cleanup and
closure of a nickel mine that has been sitting dormant since 2015 for
lack of a buyer. - 
South African Billionaire Patrice Motsepe And Norilsk Nickel To Shut
Down Nkomati Mine - South African billionaire Patrice Motsepe is
shutting down a struggling mining asset his African Rainbow Minerals
co-owns with Norilsk Nickel of Russia. - 
