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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Nickel Prices

Stainless Steel News

Friday, June 28

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.28/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading sideways and quiet. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and now totals just under the 187,500 tonne level. Nickel closed above our major support level of $6.26/lb yesterday, continuing the see saw close around the level. Nickel ends the day, week, month, and quarter quietly, after a first half year that has not been kind to nickel producers. Stainless steel producers would typical welcome these lower prices, but their demand has softened as well, so volatility adds to their headache. Another day where market news is very light, which will probably continue thru the summer. In the mean time, have a safe and enjoyable welcome.
  • Average price of cash nickel so far this month - $6.49/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper edges up, but biggest quarterly loss in nearly 2 yrs - more
  • Bloomberg metals morning - Copper Seen Gaining After German Retail Sales; Aluminum Climbs - more
  • LME Morning - Base metals mostly steady, consolidate as fundamentals calmer - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.09
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more

    Prices of CR Austenitic Stainless Sheets in Asia to $2,300 CFR Level - Price drop of cold-rolled (CR) austenitic stainless steel sheets in the Asian region has not cease to fall. Dragged down by the LME nickel price being the lower end of $6 per pound, CR sheet prices become the level of $2,300 CFR. - more

    Marcventures unit hikes nickel ore shipments - The mining subsidiary of Marcventures Holdings Inc. expects to increase shipments of wet metric tons (WMT) of nickel ore in the first half of the year by more than three times the previous year’s level. - more

    Norilsk to Focus on Arctic Circle as CEO Builds New Team - OAO GMK Norilsk Nickel, the largest nickel and palladium producer, plans to focus on developing its operations in northern Russia over international assets after installing a new chief executive officer and management team. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, June 27

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.17/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.08/lb higher, with other London traded base metals trading mixed and except for tin and nickel, mostly sideways. Stockpiles of nickel stored in LME approved warehouses fell back from record levels on Wednesday and now totals just under the 187,650 tonne level. Nickel needs to consider calming down or its going to earn its own volatility index. Yesterday, nickel fell 2.3% after rising 2.2% the preceding day, falling 3.3% the day prior to that, and rising 2.7% the day before that. It's up 1.3% at the moment. A trader that timed these moves just right, could have made some serious money the last few days. While the better odds of timing it wrong would have burnt up any prior profits quickly. European equity markets are higher this morning, although off earlier highs, with US futures higher, after Asian markets ended higher. US markets ended yesterday higher after a shocking  revision of first quarter GDP figures showed the US economy was not recovering as quickly as we were led to believe. The possibility that the Fed may have to back off on their earlier warning that stimulus measures may begin to be curbed before the end of the year, got traders motivated. The nickel market appears to be trying very hard not to close below $6.26/lb for two consecutive days - a mark we show as strong technical support. After cutting it close on Tuesday, we may see another close call today. A close below this level for two days in a row, could send a technical bearish signal, and computer trades would send a sell signal. But we have spent a week now jumping under and over this line, so the market is desperately trying to establish a floor. Market news today is nearly non existent as stainless steel industry enters its typical slow period for the year. One business day left in the first half of 2013.
  • Average price of cash nickel so far this month - $6.50/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Leads Metals Rebound as Lower Prices Attract Investors - more
  • LME Morning - Base metals steadier as short-term worries abate - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.23
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SSY) The world export price of hot rolled band fell for a fourth consecutive month to $537/t, the lowest level since October 2012, according to the latest SteelBenchmarker published by World Steel Dynamics. HRB prices in China remained at a 9-month low of $473/t while prices in the EU edged higher from two weeks ago to $606/t. Furthermore, HRB prices in the US rose $31/in the last month to $668/t.
  • (MF) Baosteel Stainless cuts domestic stainless prices for July
  • China 'most promising' in FDI - more

    Service Center Shipments Still Lagging 2012 - Service centers shipments remained well off their 2012 pace in May in both Canada and the United States, while distributor shipments of aluminum products were only modestly behind the monthly figures from 2012, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. U.S. inventories of both products fell during the month, while Canadian stocks held firm. - more

    MCC on the defensive over Chromite storage; ignores transport issues - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, June 26

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.27/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.10/lb lower, with all London traded base metals trading lower as well. For the seventh time this month, stockpiles have risen to a new all time record high. We forecast we could see some big shipments arrive within a few weeks of the re-opening of Norilsk shipping. Yesterday's gain of 1,872 tonnes has taken the total to a record reading of 187,956 tonnes. Metals are giving back yesterday's gains as a stronger Dollar adds negative pressure. World equity markets continue to rebound on news that China apparently has their so called banking crisis under control. US economic news out yesterday was positive, but base metals is having a hard time drawing the attention of investors. From a technical standpoint, we have seen nickel close below, above, below and above what we see as a line of major support. Today - if it continues like it is presently trading, we will see a close below. Two consecutive closes below sends a bearish signal, where the opposite isn't necessarily bullish, but could imply a bottom, however temporary, may be forming. Stainless steel markets remain in a 'wait and see' situation - 'waiting and seeing what the other guy does.   
  • Average price of cash nickel so far this month - $6.52/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Base metals revert lower, latest rally falters on soft sentiment - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Outokumpu Nirosta July Stainless Steel Surcharges - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.48
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (MB) Brazil's nickel output fell 6.8% year-on-year in May following reduced exports, according to figures from the Brazilian non-ferrous metals institute ICZ.
  • (SSY) US steel imports in May rose for the fourth consecutive month, up 2.3% to 2.54 Mt, according to preliminary data from the US Census Bureau. Although the highest monthly import volume since June 2012, the May total marked an annual decline of 8.9%. Total imports for the first five months of 2013 reached 12.0 Mt, down by 10.7% from the same period in 2012.
  • (SBB) China nickel metal, Indonesian ore imports drop in May
  • BNC struggles to raise funds - more
  • Marc Rich, Fugitive Commodities Trader in 1980s, Dies at 78 - more
  • China central bank sees liquidity crunch ease - more

    Russia's Norilsk sees 2014 nickel prices up 16% - IFX - Russia's Norilsk Nickel, the world's largest nickel and palladium maker, expects 2014 average nickel prices to rise 16% from current four-year lows, Interfax news agency reported on Tuesday, citing its first deputy CEO. - more

    Is the 136-year-old London Metal Exchange ready for a woman CEO? - Whisper it: The next chief of the London Metal Exchange (LME), where only men take part in the shouted, testosterone-fuelled trading of materials like copper, may be a woman who prides herself on speaking softly. - more

    Mine waste inquiry on - The Constitutional Law Reform Commission will begin an inquiry into mine waste tailings and its impact on the health of Papua New Guineans. - more

    Mining Association of Canada names first female chair - The Mining Association of Canada has voted in its first female chair. Zoë Yujnovich, the current president and chief executive officer of Iron Ore Co. of Canada, took over the board last week, replacing Ian Pearce, former CEO of Xstrata Nickel who retired last month. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, June 25

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.18/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.09/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel fell over record levels yesterday and now total just under the 186,100 tonne level. Much like yesterday's activity, what is happening with the price of base metals has less to do with nickel supply and demand, and more with financial market sympathy. Last week, nickel was hit when investors exited markets after Fed Chairman Ben Bernanke hinted that Fed stimulus measures could be pulled back later this year.  Yesterday, it looked like China might be on the verge of a major banking crisis, and nickel got whacked again. Today, investors nerves have been calmed about China, so world markets, as well as base metals, are higher. This si the second time in 3 days that nickel has closed below support of $6.26/lb, but as happened on Friday, it appears nickel may close above that level. This is sending a technical signal that the price 'might' be establishing another floor. A close below $6.26/lb today would send another bearish signal.
  • Average price of cash nickel so far this month - $6.54/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper up off 3-year low as China bank calms credit fears - more
  • Bloomberg metals morning - European Stocks Rally With Bonds as Metals Advance - more
  • LME Morning - Base metals correct higher after earlier side-swipe to new lows - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.63
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (AM) Chinese nickel ore import up by 29.06% in May MOM
  • China shares trim losses after Monday shock - more

    China’s Commodities Output More Potent, Standard Chartered Says -  China is becoming increasingly powerful as a supplier of raw materials including iron ore, aluminum, nickel and coal as it boosts output from local mines and smelters, according to Standard Chartered Plc. - more

    Morgan Stanley Cuts Base Metals Outlook as China’s Growth Slows - Morgan Stanley reduced its forecasts for industrial metals on concerns slowing growth in China, the world’s biggest consumer, and the nation’s worst cash squeeze in at least a decade will curb demand. - more

    Credit Suisse Cuts Precious Metal Forecasts, Trims Base Metal Outlook -Credit Suisse has cut its forecast for precious metals prices and trimmed its outlook for some base metals amid continuing challenging market conditions for commodities. - more

    LME Looking at Feasibility of Clearing Products in Yuan, Li Says - The London Metal Exchange is looking at the feasibility of clearing products in yuan, according to Hong Kong Exchanges & Clearing Ltd. (388), owner of the world’s largest metals bourse.  - more

    Title for land taken for Ramu nickel mine still not resolved - The Lands Titles Commission in Madang hopes to finalise their land investigation report for the Ramu Nickel Project impact areas but needs funding, Commissioner George Minjihau says. - more

    Courtesy AISI - In the week ending June 22, 2013, domestic raw steel production was 1,881,000 net tons while the capability utilization rate was 78.5 percent. Production was 1,862,000 tons in the week ending June 15, 2012, while the capability utilization then was 74.8 percent. The current week production represents a 0.6 percent increase from the same period in the previous year. Production for the week ending June 22, 2013 is up 1 percent from the previous week ending June 15, 2013 when production was 1,870,000 tons and the rate of capability utilization was 78.1 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Monday, June 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.38/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.15/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose on Friday and starts the last week of June at a new all time record high of 186,198 tonnes. Nickel and tin got a nice bounce on Friday, considering the Euro continued to take a beating, while the rest of the LME traded base metals ended quietly. Today, after a big overnight drop in Chinese equity markets started the week with negative momentum, nearly everything is trading in the red this morning, including base metals. European equity markets are lower, and US Dow futures are lower as well. Nickel's rally on Friday is turning out to be no more than a dead cat bounce as record levels of inventory show a market in oversupply. AK Steel and Allegheny published July surcharges for stainless steel - which are lower than June's. We are in day one of the last week of the first half of calendar year 2013.
  • Average price of cash nickel so far this month - $6.56/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines as Inventories Advance to 10-Year High - more
  • LME Morning - Base metals weaken as risk appetite deflates, copper hits lowest since mid-2010 - more

  Reports

  • AK Steel July Stainless Steel Surcharge - pdf here
  • Allegheny July Stainless Steel Surcharge - more
  • Oryx Stainless Newsletter - Let us call it coordination problems with dates - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.82
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SSY) China's daily steel production remained steady during the first ten days of June rising 0.1% to 2.156 Mt compared to the last ten days of May, according to data from the China Iron and Steel Association. This represents an increase of 7.9% year-on-year.
  • (SMM) John Rowe, Secretary General of the International Stainless Steel Forum (ISSF) predicts that nickel pig iron (NPI) output in China will grow 40% YoY to 504,000 mt this year. 13 NPI projects in China have been confirmed or under construction, involving a total capacity of 290,000 mt/yr.
  • China shares see biggest daily plunge in 4 years - more

    Production of Stainless Steel Products in April 2013 Is 230,342 Tons =Down by 4% from prior month, and all items except Cr-Mo-containing items decrease= On June 18, the Ministry of Economy, Trade and Industry announced the production volume of stainless steel products (hot-rolled products) in April 2013 was 230,342 tons, which was a decrease of 3.6% from the prior month. - more

    Founders set for reduced $4.7 billion buyout bid for ENRC - The billionaire founders of ENRC (ENRC.L) are close to finalizing a buyout bid for the London-listed Kazakh miner, valuing the troubled group at just over 3 billion pounds ($4.7 billion), below the value of a tentative proposal made in May. - more

    Clive Palmer says Townsville nickel refinery Yabulu to employ 500 more workers, take $200 million per year profit  - Clive Palmer says he will employ an extra 500 workers and reap a $200 million a year profit at his Townsville nickel refinery. - more

    Industrial metals may take support from US economy: N Bang - Nirmal Bang has come out with its technical report on industrial metals. According to the research firm, industrial metals prices are expected to take support from improving economic conditions in the US. However, deteriorating manufacturing conditions in China is likely to keep a check on the upside. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, June 21

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.21/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.07/lb higher, with other London traded base metals trading mostly sideways. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and now total just over the 185,400 tonne level. Nickel got whacked in yesterday's worldwide investment sell off and closed at levels not seen since May 2009. Today it appears the rout has ended and traders are trying to gauge if this is the bottom or not. The World Steel Association reported today that steel production worldwide in May was 2.6% higher than May 2012, thanks primarily to China. China stainless steel prices continue to fall according to our daily index, as well as two others published in China that we monitor daily. One index is down 3.83%  from a month ago. It's been a brutal week for nickel producers, and that could mean more discouraging times ahead for stainless steel producers. In the mean time, have a safe and restful weekend.
  • Average price of cash nickel so far this month - $6.59/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Europe Shares Rise With U.S. Futures as Metals Advance - more
  • LME Morning - Base metals stage groggy corrective bounce but pressure to continue - more

  Reports

  • May 2013 Crude Steel Production - more
  • June 2013 CHRG Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.93
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SSY) Global steel production rose by 3% from April to a new monthly high of 135.9 Mt in May, according to World Steel Association data. This was 3.6% higher than the year-ago level and brings global steel production in the first five months of the year to 655.2 Mt, up 2.3% on the corresponding period in 2012.
  • (SO) According to the latest data released by the Brazilian Institute of Non-ferrous Metals (ICZ), the country's nickel production amounted to 6,179 mt in May this year, falling by 9.65 percent compared to April and down 6.9 percent compared to the same month of the previous year. In the first five months of the year, the country's nickel production decreased 3.4 percent year on year to 28,426 mt.
  • (MB) China's imports of high-carbon ferro-chrome dropped 20.4% month-on-month in May with volumes at their lowest since September 2012 ...
  • (China) June PMI signals weakness - more

    European stainless steel demand remains sluggish: Damstahl - The picture for second quarter European stainless steel demand is showing no substantial change from the first quarter, according to the latest market report from Germany-based service center group Damstahl published Thursday. - more

    Japan crude steel output rises to highest since Jan 2011 - Japan's crude steel production rose in May to the highest since January 2011, as a decline in the yen caused by the so-called "Abenomics" stimulus programme helped boost export demand. - more

    Billionaire Palmer rejects Qld Nickel in financial strife - Billionaire Clive Palmer's Queensland Nickel has denied financial trouble is the reason behind its decision to pull funding from several Townsville organisations in the state's north. - more

    Sudbury mourns fallen workers - There is only one correct answer to the question of whether workers should fight for improved workplace safety or "just remember" those who were killed, injured or got sick on the job, says the president of Mine Mill Local 598/CAW. - more

    Mining in Minnesota -- regulation needed - Josephine Marcotty’s June 16 article “Minnesota’s next mining boom” focused on the environment-vs.-economics dispute that hangs over Minnesota’s world-class deposits of copper, nickel, cobalt, gold and platinum group elements. - more

    First woman to take the helm of the Mining Association of Canada - The Mining Association of Canada (MAC) is pleased to announce that Zoë Yujnovich, President and CEO of Canada's largest iron ore producer, the Iron Ore Company of Canada (IOC), has been elected as Chair of MAC for a two-year term. She is the association's first female Chair in its 78-year history. - more

  • IOC CEO first female chair of mining association - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, June 20

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.44/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.17/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses slumped on Wednesday and now total just over the 185,500 tonne level. The day is starting to look like one of those that gives your typical trader a major headache and only seems to please those that bet short. Commodities are nearly all trading in the red this morning, the Asia Dow ended down 3.83%, most European markets are off over 2% so far, and US futures are lower. The market is getting hit with a double whammy today, with a report that China factory output continues to slow down, coming on the heels of an afternoon announcement yesterday that the Fed could begin tapering off the flow of cheap money later this year. Nickel continues to trade lower this morning and we put major support at $6.26/lb while another source we monitor puts support at $6.12/lb. Either way, today appears to be an ugly one for the nickel industry.  
  • Average price of cash nickel so far this month - $6.61/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - London copper hits 7-week low on Fed policy, China data - more
  • Bloomberg metals morning - Metals Fall on Fed Comments as Copper at Seven-Week Low - more
  • LME Morning - Metals take a beating as risky assets dumped, copper supported at $6,800/t - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 83.23
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • EUROFER: backloading remains unnecessary intervention - more
  • Mining equipment makers rise to efficiency challenge - more
  • China Manufacturing Contraction Deepens Amid Cash Pinch: Economy - more
  • End to Fed stimulus, China slowdown spark world sell-off - more
  • China stocks tumble as manufacturing activity falls - more
  • Texas Steel Supply Company Burglarized - more

   Nickel price to weaken further as pig iron sector cuts costs - China's nickel pig iron producers are turning in droves to a new technology that allows them to survive at lower prices, a move that suggests nickel prices, already mired at four-year lows, could fall further. - more (quote from article - The break-even cost for nickel pig iron produced by rotary kiln electric furnace (RKEF) technology is now as low as $12,500 [$5.67/lb] a tonne and its market share has soared, said Dennis Zamora, senior vice president for marketing and strategic planning at Nickel Asia Corp.)

    Ibris Nickel Joins Forces With Chinese Firm to Build Smelter in SE Sulawesi - Ibris Nickel, a nickel miner with assets in Sulawesi, and China’s Yong-Xing Alloy Materials Technology Taizhou signed a memorandum of understanding on Wednesday to build a nickle processing facility in North Konawe, South East Sulawesi province. - more

  • Ibris Group plans $1.8 bln Indonesian nickel smelter - more

    DJ WBMS: Global Nickel Market in 31,700-Ton Surplus Jan-April - There was global nickel supply surplus of 31,700 metric tons in January to April 2013, the World Bureau of Metal Statistics said Wednesday. - more

    The Stainless Steel Stock Cycle Review and Demand Index have been updated on the worldstainless website. The stock cycle review is the calculation of real stainless steel use vs. apparent stainless steel use. - more

    The Debate Over Mining Continues -  Costs versus benefits of sulfide mining took center stage Tuesday at Clyde Iron Works in Duluth. - more

    World Class Ramu Nickel Convenes Chromite Meeting - World Class Ramu Nickel under the new leadership of GU YUXIANG are having heaps of problems these days. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, June 19

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.42/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading mixed and mostly sideways. Stockpiles of nickel stored in LME approved warehouses retreated slightly on Tuesday and now total just under the 185,700 tonne level. Three month nickel ended yesterday's session at its lowest trading level since June 4, 2009, when nickel ended a downtrend and bottomed out at $6.26/lb. Yesterday's close was not that low, closing at $6.42/lb, but we have yet to see an established floor. Today's trading is subdued, and most likely will remain that way, as traders await to see what US Fed Chairman Ben Bernanke will have to say at the end of the Fed meeting later today. US markets appear to be fairly confident the Fed will not stop the flow of cheap money, and Bernanke has a history of letting the market guide his actions. China continues to produce record amounts of steel as if there was no economic slowdown, while prices falter because of that slowdown - and oversupply.
  • Average price of cash nickel so far this month - $6.63/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Near Six-Week Low Ahead of FOMC Meeting Outcome - more
  • LME Morning - Base metals rebase after sell-off, stay hesitant ahead of Fed announcement - more

  Reports

  • Damstahl Stainless Steel Report - June 2013 - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 83.32
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SSY) China produced a record 67.0 Mt of crude steel in May, up by 9.5% from the year-ago level, according to the latest update from the National Bureau of Statistics. Production for the first five months of 2013 rose by 9.3% year-on-year to 324 Mt from 297 Mt in the same period of 2012.
  • (RIN) The benchmark price from the producer stood at 102,000 yuan ($16,563) per tonne on Tuesday, down 4,500 yuan from the level on June 4 when Jinchuan made its last price increase.
  • Are commodity prices about to explode? - more

    Imbalance in stainless steel industry has led to tight margins: ISSF - Stainless steel has shown the strongest growth of all the major metals, yet the supply/demand imbalance has made stainless a low-profit industry, John Rowe, secretary-general of the International Stainless steel Forum, said at a conference. - more

    U.S. and Canadian Metals Shipments Continue Below Last Year’s Levels - U.S. service center shipments of steel products in May 2013 decreased 4.8% from May 2012. Steel product inventories at the end of May 2013 decreased 11.6% from May a year ago. - more

    China steel price 'to stay low' - China steel prices have dropped in spite of decreasing global output and easing oversupply, according to an article on the website of China Iron & Steel Association on Monday. - more

    Mining CEOs Punished as FTSE 100 Peers Keep Pay: Commodities - The largest mining companies traded in London cut pay for their chief executive officers by an average 23 percent last year, as boards punished several top managers after a wave of failed deals. - more

    NSSMC Develops World's First 7% Ni Plates for LNG Tanks to Practical Use - Nippon Steel & Sumitomo Metal (NSSMC) announced on 13th that the company developed 7% nickel steel plates for LNG tanks of low-temperature pressure vessels, and such plates are used for a world's largest No. 5 LNG tank at Senboku I of Osaka Gas Co., Ltd. - more

     Honda to Reuse Rare Earth Metal Extracted from Nickel-metal Hydride Batteries in Hybrid Vehicles for the Motors for Hybrid Vehicle Motors - Honda Motor Co., Ltd. agreed with TDK Corporation and Japan Metals & Chemicals Co., Ltd. (JMC) to jointly pursue the reuse of a rare earth metal extracted from nickel-metal hydride batteries in hybrid vehicles for magnets of new hybrid vehicle motors. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, June 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.48/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.10/lb lower, with all other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to another all time record high on Monday. and now total 185,748 tonnes. That is over 2000 tonnes more than the former record. The Dow ended its fifth straight triple digit session on Monday as traders try to second guess what Fed Chairman Ben Bernanke will say in his news conference tomorrow about the future of Fed stimulus. The Fed must be convinced that the economy is strong enough to handle the withdrawal symptoms to make a move, which you think would be good for the markets. But instead, the markets are nervous about how much of the stimulus money  is in the market, and what could happen when the cheap money dries up. Once again the market is more worried about the market - than the economy. Nickel traders continue to be worried about demand for their rock. Chinese stainless steel indexes, both ours and those we monitor in China, continue to slump. Stockpiles of nickel in LME licensed warehouses continue to grow, and of 12 reporting sessions so far this month, we have seen new all time record high figures on 5 occasions. China and India nickel is also lower. While equity markets wait for Bernanke tomorrow, nickel traders hope for a bump in the Euro that might help slow the slide in nickel prices.
  • Average price of cash nickel so far this month - $6.66/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls a Second Day as Investors Await Fed Stimulus Signs - more
  • LME Morning - Base metals under pressure, await clarity on US Fed policy - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 83.57
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Steel scrap: A world-traded commodity - more
  • AK Steel Sees Steep 2nd Quarter Loss on Maintenance Costs, Lower Prices - more
  • Metals X Limited : to Suspend Wingellina DFS Works - more
  • Come clean on jobs, Newman tells Palmer - more
  • (Dow Jones) Three-month nickel is trading at $14,085 a metric ton, down 1.5% from its previous settlement and only slightly higher than this month's low of $14,052/ton reached June 14, which also marked nickel's lowest level since 2009. High stocks in LME warehouses, rising mine supply and muted demand from major consuming regions including China are all weighing on nickel market sentiment and eroding profit margins for nickel producers.
  • (FAN) South African ferro-chrome producers are switching furnaces back on as state energy group Eskom continues to seek ways to conserve power after the expiry of recent power buyback deals.
  • (SSY) According to the Federal Reserve, industrial production in the US recorded a further slowdown in May to 1.6%. This is the slowest year-on-year growth rate in the US in the year to date following 1.9% growth in April. Manufacturing production did, however, rise for the fist time in three months, up by 0.1% and mining production increased by 0.7%.
  • Classic Minerals detects 18 massive nickel sulphide conductors in Fraser Range - more
  • China’s Great Uprooting: Moving 250 Million Into Cities - more
  • ENSO neutral; a negative IOD likely for southern winter-spring - more

    Increased NPI output should result in global nickel surplus in 2013: ISSF - The global nickel market will remain in surplus this year mainly because of the increase in nickel pig iron production, according to John Rowe, secretary-general of the International Stainless Steel Forum. - more

    Analyst says smaller nickel miners to feel price fall - An independent analyst says there are a number of nickel mines in the Goldfields/Esperence area that may be forced to close if the price of the commodity remains low. - more

    Nickel producer's complaint against fine dismissed - The Moscow Commercial Court has dismissed the lawsuit filed by Norilsk Nickel against the court decision to fine it 500,000 rubles ($15,785) for failing to provide information to a shareholder, RAPSI learned in the court. - more

    Courtesy AISI - In the week ending June 15, 2013, domestic raw steel production was 1,870,000 net tons while the capability utilization rate was 78.1 percent. Production was 1,862,000 tons in the week ending June 15, 2012, while the capability utilization then was 74.8 percent. The current week production represents a 0.4 percent increase from the same period in the previous year. Production for the week ending June 15, 2013 is up 1 percent from the previous week ending June 8, 2013 when production was 1,851,000 tons and the rate of capability utilization was 77.3 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Monday, June 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.49/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over the 183,600 tonne level. CAW Mine Mill 598 has extended its strike deadline to July 12th in contract negotiations with First Nickel. 598 members are in a tough bargaining position with an overstocked market, lower prices, and the concern that more nickel mines may need to stop production as demand continues to falter. While the trend remains negative, Friday's close was the first time in eight sessions where the price closed slightly higher than it had opened. Today it appears we could see a return to the negative close. All eyes are on the US Fed meeting this week, with markets heading up and down on the latest rumors about how clear Fed Chairman Ben Bernanke will be during Wednesday's after meeting press conference. So far this morning, equity markets appear to be betting the news about the free money flooding the market will be positive.
  • Average price of cash nickel so far this month - $6.67/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Gains as Aluminum Rises First Time in Eight Days - more
  • LME Morning - Metals mark time after rally slows, gear up for FOMC in midweek - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 83.72
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SSY) China's daily steel production for 21-31 May fell 10% from the previous ten days to record a four month low of 1.96 Mt, according to data from the China Iron and Steel Association. However, production has remained unchanged compared to the same period last year.
  • Seabed mining company defends Vanuatu licences - more
  • Tokyo Steel prices unchanged for 4th month amid rising China supply - more
  • (China) Economists puzzled by state of economy - more
  • U.S Fastener Exports & Imports Grow in April - more

    Mine Mill, First Nickel to keep talking - The midnight deadline for the expiry of the collective agreement between production and maintenance workers at First Nickel Inc. and their employer will come and go without a new contract or a labour interruption. - more

    Nickel Asia exports rise as China steel mills cut costs - As China's struggling stainless steel producers rush to cut costs in the face of easing demand, the Philippines' Nickel Asia Corp is seeing increasing volumes as a low-cost producer of ore for nickel pig iron. - more

   Japan's Demand and Supply for Major Ferroalloys during Jan-Mar 2013 =Demand and supply for FeSi and SiMn is tight only apparently= The demand and supply situation for 8 major ferroalloys including ferro-manganese, ferro-chrome and silico-manganese, etc. in the period from January to March in 2013 is as per the table as below. - more

    Clive Palmer's man hits back over job and Nickel losses - The boss of Clive Palmer's Queensland nickel refinery has blasted The Australian newspaper for its 'callous' attacks on the billionaire which highlighted job losses at his Coolum resort and losses at the refinery. - more

    Iron ore import licensing to be scrapped - China is to abandon its old iron ore import licensing system in July in an effort to further open up the market, a move that will bring more business opportunities to foreign producers and traders, according to a leading industry insider on Friday. - more

    Is China backtracking on attempts to control iron ore?: Clyde Russell - It may be too early to start beating the drums of victory for free-market capitalism, but there are signs that China is stepping back from attempts to control the iron ore market. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, June 14

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.50/lb  . Indicators at 6:30 am CST today show 3 month nickel trading around $.10/lb higher, with all other London traded base metals trading mixed and quieter. Stockpiles of nickel stored in LME approved warehouses rose slightly on Thursday and total just over the 183,78 tonne level, just shy of another record high. News headlines will tell readers that the reason metals are up today is because traders are betting on a stronger US economy. In reality, this has all to do with a rumor from a source that Bernanke would calm market fears in a press conference on Wednesday after the Fed meeting and assure traders that the Fed stimulus would not be shut off all at once - or soon. The Fed appears to have a serious aversion to market corrections since the 'Great Recession' and this may hint at their lack of confidence in the recovery or the ability of the current economy to cover a down market. Thus the addict will continue to receive his drug and a cold turkey treatment appears to be off the table. US markets lead the charge yesterday on the rumors, overnight markets followed, and Europe, after an initial bounce, has fallen back in anticipation of some US economic data due out today. Nickel needs a gainer today, after experiencing seven straight sessions where it closed lower than it opened. It fell below support on Tuesday, and has been southbound since. Jinchuan nickel fell another 100 RMB overnight and India nickel fell 1/2 of 1%. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $6.71/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper higher on mine worries; due for 2nd weekly loss - more
  • Bloomberg metals morning - Copper Climbs on Indications of Rebounding Economy in the U.S.- more
  • LME Morning - Base metals cautiously steadier, look to rebase after pressure week - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 83.86
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Undersea mining impact tackled - more
  • (TEX) According to information released by the National Bureau of Statistics of China, China's production quantity of steel products in May was 91,190 t/t which recorded the level of 90 million tons for the first time.
  • Eskom turns off BHP smelters - more
  • Norilsk Signs $2.1 Billion, 5-Year Syndicated Loan Agreement - more
  • My billions mean I can't be corrupted in politics, says Clive Palmer - more
  • U.S. Treasurys are a ‘Ponzi market’: Guggenheim’s Minerd - more
  • China's power consumption rises 5% in May - more

    China's Production of FeNi in May Is 35,500 Tons in Pure Equivalent =Down by 4% from year-earlier month and operation rate drops to 50%= According to the local media in China, the domestic production volume of ferro-nickel in May was 35,500 tons (in pure Ni equivalent), which was down by 3.8% from the year-earlier month and also down by 5.6% from the prior month.  - more

    $110-K worth of nickel plates stolen from Thompson mine - RCMP say they are investigating a theft of four bundles of nickel plates stolen on the night of May 13 from Vale’s Manitoba operations located in Thompson. - more

    EU files WTO complaint over Chinese stainless steel duty - The European Union lodged a complaint at the World Trade Organization on Thursday against China's imposition of anti-dumping duties on imports of stainless steel tubes, six months after Japan filed a similar case, the WTO said. - more

    Steel pipes symbol of China-EU trade war - Experts say bilateral disputes in steel industry 'happen almost every year' The trade war between the European Union and China is likely to intensify, as the former is about to file a complaint against the latter at the World Trade Organization over tariffs on its imported stainless steel pipes, said an expert on Thursday. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, June 13

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.52lb  Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell slightly after 4 straight record breaking gainers and now totals just under the 183,675 tonne level. Nickel is in trouble again, and its trend has moved from a sideways to a distinct downturn again. For the second consecutive session, LME traded nickel has closed below support, so we are looking to $6.50/lb as offering major support. We are now trading in pricing we have not witnessed since June 2009. China returned to work today and Shanghai nickel took a dive there as well, dropping from last Friday's 105500 to closed today at 101500 RMB/t. India is falling as well, trading at 829.60, compared to 871.00 last Friday. Equity markets are southbound as well, with traders around the world looking at a possible easing of the Fed stimulus money as a potential cause for concern. And while they are worried their source of free money could cause a further disintegration in the stock market, they should be concerned what this could do to the US economy. There are those who feel the stimulus is the only thing keeping the economy moving forward and that once the stimulus is gone, the rest of the economy could cool as well. And with Europe already in serious trouble, and China not strong enough to keep the rest of the world's economy up on its own, the world's largest economy must remain positive. The market is sending the Fed a message, and based on the last half decade, the Fed is taking note. We can't see nickel, or any of the other base metals doing anything more than potentially returning to a sideways trend anytime soon, and with equity markets in such a negative mood lately, a sideways pattern may be an optimistic forecast. 
  • Average price of cash nickel so far this month - $6.52/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning - Base metals slump after World Bank lowers global growth forecast - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.01
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (MF) Russian stainless steel imports increase by 5.9% m-o-m in April.
  • Chinese non-ferrous metals: going global? - pdf here
  • (SSY) The world export price of hot rolled band declined further, down by $7/t over the last two weeks to $539/t, according to the latest SteelBenchmarker published by World Steel Dynamics. This represents the lowest level since end-October last year.
  • (FAN) Consumer and broker/processor buying prices for 300-series stainless scrap have fallen again as market participants brace for a particularly slow summer.
  • Police launch Operation Nickel to catch tool and metal thieves - more
  • Russia Stocks Fall to Year-Low as Metal Shares Sink on Economy - more
  • China's Steel Market Starts by Drop in Prices in 1st Week of June as Well - more
  • Expect Muted Global Growth in 2013, World Bank Predicts - more

    Stainless steel sector to benefit in the long term - The stainless steel industry is facing “a challenging short-term outlook” but demand will continue to grow in the long term, according to the CEO of Finnish steel giant Outokumpu Group. - more

    The Cooling Commodity Supercycle -  Which commodities are looking hot – and not-so-hot – over the next four years... The supercycle in commodities and could be turning into a cyclical trough. - more

    Rio Tinto selling Eagle mine - A Canadian metals producing company is buying Rio Tinto’s Eagle mine. - more

    China's Overproduction Pushes Down Prices - Massive overproduction this year among China’s steel mills has pushed the country’s production to an all-time high, resulting in rock-bottom prices but possible longer-term risk for buyers, according to analysts at IHS, Englewood, Colo. China’s steel production rose to an annual rate of 800 million metric tons as of March, nearly double the 420 million tons at the end of 2008. - more

    Strikes at Mines in South Africa Being Protracted May Affect Benchmark =Cr ore production as well as UG2 production from PGM may be affected, too=  Last week, mine workers' strikes occurred at 3 chrome ore mines owned by Glencore Xstrata plc in South Africa, and it is not yet in sight as of June 5 when the strikes will be over. - more

    Finland's Outokumpu to supply stainless steel billet to China's Sinopec - Outokumpu has signed a strategic partnership agreement with China's Sinopec Group, the country's largest energy and chemical company, on material development and deliveries of stainless steel, the Finnish stainless steelmaker said Thursday. - more

    EU to Take China to WTO in Fresh Dispute - The European Union raised the stakes in a series of tit-for-tat trade disputes with China, saying it would file a complaint at the World Trade Organization over Chinese tariffs on imports of EU stainless steel pipes. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, June 12

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.73/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading mixed and mostly quiet. Stockpiles of nickel rose for the fourth consecutive session today, and setting its fourth consecutive all time record high. Stockpiles now total just over the 183,700 tonne level. And Norilsk just resumed shipping on Monday, and these large shipments typically take a few weeks to arrive into Rotterdam. China has been closed the first three days of this week for a National Holiday and is scheduled to return tomorrow. . Bloomberg reports "The European Union's statistics agency Wednesday said industrial production in the 17 countries that share the euro rose by 0.4% from March, but was down 0.6% from April 2012." European equity markets are trading mostly higher this morning and US futures are pointed north this morning, after a triple digit decline yesterday. Nickel traded in India is down today for its fifth consecutive session, and nickel traded on the LME is on track so far this morning to equal that.
  • Average price of cash nickel so far this month - $6.79/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Gains Most in a Week on Supply Concern as Nickel Declines - more
  • LME Morning - Base metals recover from earlier multi-week lows but US, China fears remain - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.01
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (Reuters) China's Baoshan Iron & Steel , the country's biggest listed steelmaker, will drop its July booking prices for the second consecutive month in response to slower demand growth, the company said on Saturday.
  • (SO) The supply and demand imbalance in the global long steel products market has worsened lately, according to the market outlook released by IREPAS, the global association of producers and exporters of long steel products. Although real demand is not that bad globally, the continuous decline in prices of raw materials is causing a delay in purchase decisions, resulting in a decrease in apparent demand. In some markets, especially in Europe, this is putting pressure on prices. Demand seems to have dried up almost completely in many regions, while stocks at steel mills are quite high.
  • China's CPI grows 2.1% - more

    Purchase Price of SUS Scrap by Japan's SUS Mills Tends to Rise by JPY5,000 =Domestic decreased generation reflects tight supply of spot goods= The price of domestic nickel-containing stainless steel scrap (SABOT) which the respective stainless steel mills are going to purchase in June now tends to rise by about JPY5,000 per ton in comparison with the prior month. This means the price based on 'delivered at factory' will come to JPY140,000 - JPY145,000 per ton. - more

    Norilsk Resumes Arctic Shipments After Seasonal Halt - Russia's Norilsk Nickel , the world's largest nickel and palladium producer, resumed shipments from the Arctic port of Dudinka after seasonal high waters receded. - more

    Tati Nickel will close and so will Debswana.... eventually! - We are a mining-dependent economy. All mines eventually close down. This country needs to prepare for a scenario where the major production points from Jwaneng to Tati reach the end of their lives, writes *Prof Roman Grynberg  - more

    Crude Steel Produced Late May Dropped Jun 11, 2013 - China's key large and medium-sized enterprises produced about 17.73 million tons of crude steel in the last third part of May, a 4.7% drop over the previous ten-day.

    Molybdenum 2012 output -  Global production of molybdenum in 2012 reached a new high of 529.8 million lbs, up from last year’s record of 521.3 million lbs. - more

    Glencore Xstrata Appoints Former Morgan Stanley CEO to Board - Glencore Xstrata Plc, the world’s biggest exporter of power station coal, named former Morgan Stanley Chief Executive Officer John Mack among three new board members to replace departed directors from Xstrata Plc. - more

    German risk institute warns of nickel in tattoos - The German Federal Institute for Risk Assessment (BfR) has called for a reduction, or even elimination, of nickel used in tattoos, during the first conference on tattoo safety, which took place in Berlin on 6-7 June (CW 15 May 2013). - more

    Courtesy AISI - In the week ending June 8, 2013, domestic raw steel production was 1,851,000 net tons while the capability utilization rate was 77.3 percent. Production was 1,862,000 tons in the week ending June 8, 2012, while the capability utilization then was 74.8 percent. The current week production represents a 0.6 percent decrease from the same period in the previous year. Production for the week ending June 8, 2013 is up 0.4 percent from the previous week ending June 1, 2013 when production was 1,844,000 tons and the rate of capability utilization was 77 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, June 7

    We are traveling Monday and Tuesday next week (10th and 11th) and will be unable to update this site. Should be be updating again Wednesday.

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones reports three month nickel closed Thursday's trading session at $6.90/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading slightly higher, and quietly. Stockpiles of nickel store din LME approved warehouses reached a new record high this morning when warehouses reported large gains yesterday. New record level is 182,274 tonnes - a fourth record high reached while Norilsk's shipping has been halted by seasonal flooding. Base metals, nickel included, were sinking like a rock yesterday until US markets opened and the Euro started to rise against the US Dollar. This gave commodity traders some encouragement and nickel, while closing lower yesterday, recovered from an earlier rout. Markets are mostly on hold this morning, awaiting the US May employement report to be released in less than an hour. The US markets are confused and if overseas traders are looking for guidance, they are equally bewildered. The US stock market is addicted to the free money that has been flowing into it under the guise of Fed stimulus. The Fed has made hints it is getting close to a point when it will start ebbing the flow of this free money. The stock market fears this move. Today's employment report could be another nail in the coffin. So how will the market react if the news if good today? A positive employment report, which we expect, is good for the economy and thus, will be good for the companies stockholders are invested in. But since investment today is much different than in years past, and day, minute or second traders are more common, the 'good' economic news could be taken as 'bad' by traders. And visa versa. Only lucky people actually understand the market so we will sit back and watch what happens like everyone else. In the mean time, for those who believe fundamentals actually still matters, it has to be concerning that we reached another all time record high in nickel stockpiles so long into Norilsk's shipment shut down. And - after rumors arose that China was secretly stockpiling nickel. With stockpiles we monitor growing - and those we can't monitor - reportedly growing - and stainless demand outside the borders of China down so far this year, one has to be very concerned about the seasonably slower summer months ahead. Have a safe and relaxing weekend! 
  • Average price of cash nickel so far this month - $6.84/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning - Base metals rangebound ahead of data releases, rise in volatility expected - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.01
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SG) According to data released by Japan’s Ministry of Finance, Japan exported 63,590 tonne of stainless steel flat products in April, falling by 12.4% from March and decreasing by 4.5% YoY.
  • (AMM) Nickel spot market activity continues to languish, with market participants reporting little consumer interest and unchanged premiums.
  • Russia's Norilsk Nickel to double dividend payout - more

    Global Molybdenum Production Up Again in 2010 - Global production of molybdenum in 2012 reached a new high of 529.8 million lbs, up from last year’s record of 521.3 million lbs. - more

    LME Chief Abbott Plans to Leave After $2.2 Billion Takeover - London Metal Exchange Chief Executive Officer Martin Abbott will depart at the end of the year after the sale of the world’s biggest industrial-metals bourse to Hong Kong Exchanges & Clearing Ltd. for $2.2 billion. - more

    Weda Bay Nickel May Miss Tax Holiday - France-based mining firm Eramet has been urged to spin off the processing facility of its planned Indonesian nickel mine if it wishes to take advantage of a foreign investment tax holiday. - more

    TVI Pacific commissions pilot plant at Philippine nickel project -Base-metals producer TVI Pacific and its joint venture partner Mindoro Resources has reported that, as a result of positive bench-scale test work carried out at the Agata nickel processing project, in the Philippines, pilot plant testing that would further define the technological parameters to be used in producing a bankable feasibility study, with the aim of building a commercial processing plant, has started. - more

    Outokumpu says Italian stainless steel plant bids 'unsatisfactory' - Finnish stainless steel maker Outokumpu said on Friday bids received so far for its Italian plant, Acciai Speciali Terni, "have not been satisfactory". - more

    Dominican Republic Bishops Support Ban on Xstrata Nickel’s Falcondo - Dominican Today reported that the Dominican Republic’s bishops are in favor of a recent Environment Ministry decision that bans Xstrata Nickel’s Falcondo ferronickel surface operation from mining at Loma Miranda. - more

    Russian mining giant Norilsk Nickel to channel 90 pct of net profit toward dividend payout - Russian mining giant Norilsk Nickel said on Thursday it will pay $2 billion, or 90 percent of its 2012 net profit, in dividends to shareholders. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, June 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.94/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.09/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 179,800 tonne level. European equity markets are trading higher this morning, with US futures higher, after Asian markets ended lower. German factory orders unexpectedly fell in April, with Germany the economic bright spot in an otherwise struggling EU region. World traders are waiting for tomorrow's US May employment report as a signal of what the Fed will do. This is one of those occasion's where a positive report, could actually be received negatively by the market, where bad economic news, may be seen as a positive to the market. Don't try to understand it. Drug abuse is very hard to understand. Nickel is back down today as metal traders take some profits as uncertainty about future demand returns. Nickel has been rangebound for some time now, and there is really no reason to believe it won't continue. The International Stainless Steel Forum reported earlier this week that production of stainless steel was up 6% in teh first quarter of 2013 compared to 2012. All of this gain was in China, which covered declines in the rest of the world, most notably the rest of Asia. In China, stainless steel prices continue to decline on all indexes we produce or monitor.
  • Average price of cash nickel so far this month - $6.87/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Drops From Two-Week High on Clouded Prospects for Demand - more
  • LME Morning - Base metals retreat cautiously, market awaits key data and ECB rate decision - more

  Reports

  • Spaeter June Stainless Steel Surcharges - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.18
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more

    In commodity pricing, silence and secrecy not limited to oil - A major European probe into the manipulation of global oil prices has raised concerns that could equally resonate across opaque cash markets for a host of raw materials ranging from iron ore to fertilizer. - more

    2 class-action lawsuits filed in Pa. against manufacturers of corrugated stainless steel tubing - During a June 2007 thunderstorm, a lightning strike energized a natural gas line beneath the first floor of Terence and Judith Tincher's home in Chester, Pa. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, June 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.92/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mixed but mostly subdued. Stockpiles of nickel store in LME approved warehouses fell on Tuesday and now total just under the 179,900 tonne level. Equity markets are trading lower worldwide this morning as the bad new from earlier in the week that made it look highly unlikely that the Fed might start cutting off the flow of free money into the market, is back in question, as traders fear the employment report on Friday might actually be good. It's a sad state of affairs when the market has become so addicted to the Fed's daily dose of money, that the mere suggestion of a possible  return to a 'free market', sends traders scrambling for cover. We are seeing a mixed signal in Chinese stainless steel indexes, with ours showing signs of a possible, bottom, one still falling, and another actually rising overnight.  Some of this is due strictly to the rise in nickel over the past few days, so we will have to wait and see if the pattern holds. Still not seeing any reason to believe demand is picking up anywhere, especially in China. The short term trend for nickel remains nuetal, while the overall trend continues to be negative. We expect to see resistance at $7.00/lb.
  • Average price of cash nickel so far this month - $6.84/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper edges to 2-wk high on consumer buys; US jobs eyed - more
  • Bloomberg metals morning - Copper Swings Between Advances and Declines Amid Supply Concern - more
  • LME Morning - Base metals largely stuck in current ranges, aluminium star performer - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.30
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Down, but not out - Global Mining Deals 2012 Review 2013 Outlook - more
  • (SMM) It was reported that the SRB will purchase 30,000 mt of nickel reserves soon, but the SRB has reportedly bought a huge 60,000 mt of nickel reserves since the start of the year.
  • (FAN) China ferrochrome exports decline to 5614.985 tons in April 2013, down 78.97%
  • (SO) According to the Russian Special Steel and Alloys Consumers and Suppliers Association (Spetsstal), in the January-March period of this year Russia's stainless steel product output increased by 18 percent year on year to 37,640 mt.
  • (MF) NSSC remains stainless CRC prices flat for June
  • Australia Port Hedland iron ore exports to China surge in May - more
  • Outlook volatile for iron ore price as Baosteel warns of slower demand - more

    International Stainless Steel Forum Report - Stainless Steel In Figures 2013 - pdf here

    Outokumpu inaugurates new ferrochrome works in Tornio, Finland - Outokumpu is today celebrating the inauguration of the new ferrochrome works in Tornio, Finland. Inauguration marks the start of the ramp-up phase of the EUR 410 million investment project ahead of schedule. - more

    New Caledonia government plans nickel tax - The government in New Caledonia is planning a tax on nickel ore. The president Harold Martin says the levy would be a strong fiscal measure, but two major operators in the country may be exempt. - more

    LME to Start Clearing in 2014 After 25 Years With LCH.Clearnet - The London Metal Exchange, the world’s largest metals marketplace, will move to its own clearing platform on Sept. 22, 2014, after 25 years with LCH.Clearnet Group Ltd., Europe’s biggest clearinghouse. - more

    Emboldened Dominican priests eye national park at nixed nickel mine - A group of six priests, emboldened from the victory against Xstrata Nickel Falcondo’s planned mine at Loma Miranda, on Tuesday delivered a petition with thousands of signatures asking the Chamber of Deputies to declare the rugged mountains a National Park. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, June 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.89/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mixed and mostly sideways. Stockpiles of nickel stored in LME approved warehouses rose on Monday, but came up 60 tonnes short of the all time record high of 180,492 tonnes. The economic news yesterday was not impressive, and while the PMI report from the US was downright dismal, equity stocks shot up as the likelihood of the free money from the Fed drying up anytime soon, became less likely. Nickel got a boost yesterday from a report that China may be taking advantage of the low price and quietly stockpiling nickel. Trading today appears to be more subdued as analysts question why China's secret purchases are having no noticeable effect on LME warehouses stockpiles gains.
  • Average price of cash nickel so far this month - $6.82/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning - Copper fluctuates around $7,400/t, rest in sideways mode - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.31
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (Standard Bank Commodities Daily 6/3) In other news, the Financial Times reported today that the Chinese SRB has been active in the nickel market and is potentially looking to pick up 200-300 kt of refined copper. In terms of nickel, Chinese refined nickel imports started picking up late last year, peaking at a 21.8 kt inflow in January. Compared to an average of 13.1 kt/month seen during 2012, it does indeed appear that there has been additional buying interest, which may in turn fit with the suggestion that the SRB indeed purchased 30kt of nickel. Its worth highlighting however that SRB rumours were initially retro-fitted to account for the nickel import data, given the lacklustre real demand conditions at the time.
  • (Dow Jones) Heavily indebted Russian steel and coal producer OAO Mechel (MTL) is in talks to sell its loss-making Southern Urals Nickel Plant, business daily Vedomosti reported Tuesday.
  • 4th edition of World Steel Scrap Statistics - more
  • Stainless Steel Scrap overview - more
  • A warming eastern Indian Ocean points to a developing negative IOD - more

    China market unmoved by reserves bureau's refined nickel purchase: analyst - The State Reserves Bureau of China's recently reported plan to purchase at least 60,000 mt of refined nickel from the international market in 2013 is unlikely to have a major impact on Chinese market fundamentals, a nickel analyst at state-owned metals consultancy Beijing Antaike said Tuesday. - more

    Dominican Republic denies Xstrata Nickel mine - The government of the Dominican Republic on Monday cited "economic and environmental conditions and mining technologies” to deny Xstrata Nickel Falcondo the permit to mine Loma Miranda, just two weeks after the UN Program for Development released a study contrary to the miner’s project. - more

  • Xstrata Nickel mine spurs protests for and against - more

    Stainless Mills Consider Changes to Alloy Surcharge Format -  LME nickel stocks, in late May, stood at an all-time high of almost 180,000 tonnes. This is 26 percent above the total of 142,000 tonnes at the beginning of this year. - more

    Poseidon Nickel makes major nickel discoveries at Windarra project in WA - Poseidon Nickel has discovered large new zones of nickel at its Windarra Project from a drill program that commenced in November 2012. - more

    Gono Ordered To Return Trojan Nickel Mine’s 1Million - Reserve Bank governor Gideon Gono has been ordered to return to the Bindura Trojan Nickel Mine $1 million the central bank mishandled at the height of the country’s 2006-2007 economic plunge. - more

    Courtesy AISI - In the week ending June 1, 2013, domestic raw steel production was 1,844,000 net tons while the capability utilization rate was 77 percent. Production was 1,954,000 tons in the week ending June 1, 2012, while the capability utilization then was 78.6 percent. The current week production represents a 5.6 percent decrease from the same period in the previous year. Production for the week ending May 25, 2013 is down 0.3 percent from the previous week ending May 25, 2013 when production was 1,850,000 tons and the rate of capability utilization was 77.2 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Monday, June 3

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.71/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.16/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Friday and now total just over the 180,050 tonne level. Base metals are trading higher thanks to a stronger than expected manufacturing PMI report from China. Asian markets, on the other hand, appeared to not by the government report, which rose from 50.6 to 50.8, and instead took their cue from the monthly report by HSBC which showed China’s Purchasing Managers’ Index (PMI) dropped to 49.2 in May from 50.4 in April. Whichever you choose to believe, one thing is certain. The Chinese economy, much like the US', is going no where quickly these days. European markets opened lower this morning but have turned positive as US futures turn higher.
  • Average price of cash nickel so far this month - 0
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper climbs after Freeport news, short-covering - more
  • Bloomberg metals morning - Copper Gains as Chinese Manufacturing Gauge Unexpectedly Rises - more
  • LME Morning - Metals cheered by manufacturing data, prices set multi-week highs - more

  Reports

  • ThyssenKrupp Stainless USA June Stainless Steel Surcharge - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.46
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (MF) European stainless steel alloy surcharge fell sharply in June
  • (Bloomberg) Nickel rallied after the Financial Times reported China’s State Reserve Bureau, the government’s stockpiling department, bought 30,000 metric tons of the metal.
  • (Reuters) A worker was shot dead at a Lonmin mine in South Africa, the National Union of Mineworkers (NUM) said on Monday, in the latest unrest to hit the troubled platinum belt.
  • Commodity price fall hits Rio Tinto, BHP Billiton shares - more
  • China Growth Limited by Struggling Small Manufacturers: Economy - more
  • Corrosion inevitable in stainless steel - more
  • Scrap Metals Marketwatch - more

    North American Stainless press announcement - Effective with shipments June 1st, 2013, North American Stainless will reduce the fuel surcharge to 33% for stainless flat and long products shipping in the month of June 2013.

    Global stainless crude steel production in Q1 2013 higher than last year - Based on preliminary data, global stainless crude steel production in the first quarter of 2013 was almost 9.4 million metric tonnes (Mt) according to the International Stainless Steel Forum (ISSF). - more

    [Korea's Steel Statistics] Demand and Supply for Ferroalloy in Feb., 2013 - The result of Korea's demand and supply for ferroalloy in February, 2013 compiled by Korea Iron and Steel Association (KOSA) is shown in the table as below. - more

    China Steel Output Cut as Prices Fall and Inventories Rise - Hebei Iron & Steel Group, China’s biggest steelmaker, joined domestic rivals in halting plants, responding to price declines amid high inventories, research company Custeel.com said. - more

    Delays sealed Madam Luo’s fate as Ramu mine chief - After years of overseeing the development of Papua New Guinea’s only nickel laterite mine, Ramu NiCo president Luo Shu was reportedly replaced, with the operation expected to miss its full production goal by at least 1.5 years. - more

     Belvedere Resources to mull options at Hitura - Belvedere Resources says it is assessing putting ore from its Kopsa gold project through the Hitura mill in Finland. It comes after the firm last week announced the suspension of mining at the Hitura nickel mine in response to the low nickel price. - more

    Russian Ministry calls on industry for two-hour pollution moratorium - Russia’s Ministry of Natural Resources and Environment will be conducting it “Zero Negative Environmental Impact” day campaign on June 5 with the aim of appealing to highly polluting industries to suspend their ecologically dangerous operations for two hours that day – an effort that could underscore debates on cross-border contamination from Russian domestic industry. - more

    Activists on Lake Calhoun protest proposed mines near Ely - About a dozen activists gathered at Lake Calhoun carrying signs and canoeing on Saturday to draw attention to proposed copper nickel mines that some claim would adversely affect both the Boundary Waters and Lake Superior. - more

  • Mining opponents open shop in Ely - more

  Morning Nickel Inventory and Price Statistics & Figures

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

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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays - Disclaimer Original 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.

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