This
page is archived news covering the period of June 2013
If you are looking for current daily market news, please visit
here.
Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
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
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)
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
(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
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)
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
(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
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)
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
(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)
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
(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)
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
(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 ...
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)
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
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)
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
(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.
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)
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
(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)
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
(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)
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
(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.
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)
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
(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)
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
(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.
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)
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
(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)
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
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)
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
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)
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
(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
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)
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
(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
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
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 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.
Reports
Commodity/Economic Comments
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. -
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. -
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. -
Morning Nickel
Inventory and Price Statistics & Figures
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. -
MCC on the
defensive over Chromite storage; ignores transport issues -
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. -
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. -
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. -
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. -
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. -
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.
-
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. -
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. -
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.
-
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. -
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. -
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. -
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 -
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. -
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). -
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.
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". -
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. -
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. -
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. -
[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. -
