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page is archived news covering the period of June 2014
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Monday, June 30
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
$8.58/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals trading mostly lower. Stockpiles of nickel stored
in LME licensed warehouses fell on Friday and now totals just shy of the
304,900 tonne level. China media reports stockpiles of nickel ore stockpiles
at Chinese ports rose .17 million tons during the prior week and read 22.76
million tons today, compared to 22.59 million tons on the 20th. June has
turned out to be the story of two halves, with the first half seeing a big
decrease in the price of nickel, with the latter half seeing a recovery attempt.
It appears the average price of cash nickel will end June over $000/tonne
lower than it did in May. Nickel has traded within a $18,000 to $19,000 tonne
range for the last three weeks, and therefore the short term trend remains
neutral, while the long term remains bullish. Much of Canada is closed today
for a long weekend with Canada Day celebrations tomorrow. Today ends the
first half of 2014, and with official PMI numbers published tomorrow, markets
could be subdued today.
Average price of cash nickel so far this month - $8.42/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
SC bans 3 mining firms for violating 60-40 rule -
more
Clive Palmer: I just have my brain, which is very effective -
more
Fastener Issues Still Plague 787 Production -
more
Mincor tips
long nickel run - Mincor founder David Moore says conditions behind the recent
nickel price spike could last up to five years, provided Indonesia's nickel
export ban stays in place. -
more
With
Indonesian Ban In Place, From Where Will Nickel Come? - In 2009, Indonesia
banned the export of nickel ore. We’re only just starting to feel the
repercussions. -
more
Australia's
dependency on China commodity appetite increases: Clyde Russell - Australia
still has the Union Jack on its flag and the British queen on its coins,
and was once described as the U.S. "deputy sheriff" in Asia, but the real
dependency relationship is with China. -
more
China's crude
steel output up 2.7% in Jan-May at 342 mln tons - China, the world's largest
steel producer, saw its crude steel output increase 2.7% year on year to
342.52 million tons in the first five months of this year, according to the
latest statistics released by the National Development and Reform Commission.
-
more
Indonesia
overtakes Brazil in forest losses despite moratorium - Indonesia has for
the first time surpassed Brazil in clearing tropical forests and losses are
accelerating despite a 2011 moratorium meant to protect wildlife and combat
climate change, scientists said on Sunday. -
more
An
extraordinary blessing - In a previous article, we have written about how
the Philippines is blessed in many different ways -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Fri, June 27
Abbreviated update today
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
$8.57/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stored in LME
licensed warehouses rose on Thursday and now total just under the 305,800
tonne level. Nickel is trading higher on technical buying and looks to end
the week higher, for a second consecutive week. Monday sees a month, quarter,
and bi-annual ending so we expect some activity is traders 'squaring' their
books. Attention in the US could shift to the west coast next week as talks
between the PMA and ILWU reach a deadline. Both sides have remained low key
during much of these negotiations and the matter has received little press,
considering the damage a strike could do the US economy. Hopefully the two
will reach an agreement, or at least agree to continue working and talking
if the extend the deadline. The news this week has been rather light, although
the big story was probably the announcement by the EU that they would begin
anti-dumping investigation against China and Taiwan on stainless steel. Have
a safe and relaxing weekend and the best of luck to those teams that have
advanced in the World Cup.
Average price of cash nickel so far this month - $8.44/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
Thursday, June 26
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
$8.44/lb
Indicators
at 6:50 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mixed. Stockiles of nickel stored in LME
licensed warehouses slipped on Wednesday and now total just over the 305,550
tonne level. Nickel traded higher yesterday, and traders appear to be trying
to establish a floor to the slide in nickel prices since mid May. The short
term trned remains bearish, but less so than a week ago. The EU is looking
at a stainless steel anti dumping claim made against China and Taiwan.
For those of you who want to follow the very critical negotiations between
the PMA & ILWU, here are two web stes to monitor -
PMAILWU Anyone who imports
from Asia, or buys from importers, should keep an eye on these negotiations.
Average price of cash nickel so far this month - $8.42/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) According to the latest World Steel Dynamics Steelbenchmarker, the
US domestic price for hot rolled band dropped sharply to a three month low
in the second half of June, down $10/t to $740/t. It has now fallen $23/t
over the course of June.
U.S. Steel, Aluminum Shipments Up Through May -
more
BHP looking at more job cuts as iron ore prices drop -
more
Glencore appoints first female board director -
more
EU to examine
China, Taiwan stainless steel dumping claims - The European Commission has
launched an investigation into accusations that China and Taiwan have dumped
billions of dollars of stainless steel in Europe, a decision that could reignite
trade tensions with Beijing. -
more
Domestic nickel
price to keep rising - Since this year, with Indonesia's new law banning
nickel ore export going into effect, China's domestic nickel price has
experienced a strong upward trend and the accumulated increase rate has exceeded
40 percent. -
more
Inquiries
of CR Austenitic Stainless Sheets Increase Significantly - Inquiries of
cold-rolled (CR) austenitic stainless steel sheets from overseas are currently
increasing. They are from end-users in China and so on, and the Japanese
stainless sheet mills consider those inquiries to be actual demand. While,
inquiries from stockists are still sluggish. -
more
Russian
nickel plant workers are ready to strike - Workers at the Buruktal Nickel
Plant (BNP) in Russia are getting ready to strike after the company failed
to sign a collective agreement for 2014-2016. It is the fourth labour dispute
with BNP in the last five years. -
more
Dominican Republic’s ‘dark interests’ sabotage National Park
bill .- “Dark interests” which have to be uncovered by lawmakers
and the Dominican people pressed the Chamber of Deputies to reject the
Senate’s version of the bill to create Loma Miranda National Park on
Wednesday. -
more
Axiom Mining
raises $1.1M, focus on Solomon Island projects - Axiom Mining has raised
$1.1 million through a private placement as it focuses on its West Guadalcanal
and Isabel Nickel projects in the Solomon Islands. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, June 25
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
$8.25/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. Stockpiles of nickel stored in LME approved
warehouses rose on Tuesday and came within over 100 tonnes shy of a new record
high, totaling just over the 305,850 tonne level. US stainless steel producers
announced July stainless steel surcharges yesterday and 304 and 316 are posted
here.
China customs is reporting China imported 4.07 million tons of nickel ore
in May, up nearly 83% from the prior month, but 36% below the same month
last year. 3.98 million tons of this total came from the Philippines.
Average price of cash nickel so far this month - $8.42/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMW) Horizonte Minerals' wholly owned subsidiary, Araguaia Niquel Mineracao,
has received the 'seal of priority' from the state of Para´s department
of industry, commerce and mining to help fast-track the development of the
Araguaia nickel project.
Head of top Chinese copper smelter falls to his death -
more
S.Africa miners return to work after longest platinum strike -
more
Global
Molybdenum Production and Use at New High - Global production of molybdenum
in 2013 reached a new high of 539.2 million lbs, up from the previous
year’s record of 535.2 million lbs. -
more
Global
Nickel surplus reached 12,600 tons in Jan-Apr '14: INSG - According to
International Nickel Study Group (INSG), the surplus in global nickel market
dropped significantly year-on-year during the month of April this year. -
more
BHP cuts
500 jobs and more may go - BHP Billiton has slashed up to 500 jobs from its
iron ore operations in Western Australia as part of ongoing cost-cutting.
-
more
A nickel
mine and the missing Placentia processing plant - It’s amazing how often
serendipity plays a role in uncovering a great story. -
more
Clive
Palmer puts conditions on backing repeal of the carbon tax - Clive Palmer
has roped in the world’s most prominent climate activist, Al Gore, to
stand beside him as he announced the abolition of Julia Gillard’s
world-leading carbon price. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, June 24
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
$8.36/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
licensed warehouses rose on Monday and now total just under the 305,400 tonne
level. We show nickel technical support at $8.14/lb and resistance at $8.78/lb.
Short term trend remains neutral to negative, while the long term trend remains
positive. The RSI and Stochastic readings have dipped under 50, but not yet
into oversold territory. Momentum is negative. For nickel to successfully
resume its price climb, we believe it will take some significant and negative
fundamental news. For now the forecasted shortage has yet to materialize
and earlier optimism is showing signs of waning. Where it will go is anyone's
guess, but there are a lot of traders that need it to go higher to cover
prior bets, and there are many who need it to go lower, to cover short bets.
The rest of us, from miners to stainless steel end users, get to wait and
see who will win the game and how it will affect our future pricing.
Average price of cash nickel so far this month - $8.43/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Westhaven Advances British Columbia Nickel Discovery -
more
BHP eyeing more iron ore mining jobs cuts in Australia -
more
INTERVIEW-No new nickel plants for New Caledonia-local govt - New Caledonia,
which this week allowed Brazil's Vale to restart its nickel operations after
an acid spill and subsequent riot, is not open to new mining plants, having
reached maximum capacity, an influential and newly-elected local government
official told Reuters on Wednesday. -
more (dated but formerly available to Reuters
subscribers only)
Cakra
Mining Sets Aside Up To $20m for Nickel Smelter - Jakarta. Mining company
Cakra Mineral has set aside capital expenditure of $15 million to $20 million
to develop a ferronickel smelter in Sulawesi. -
more
Clive
Palmer's wealth set to tumble by $1 billion: BRW - Billionaire Clive Palmer's
personal wealth is set to take a tumble by a massive $1 billion even as his
political clout gets bigger, BRW reports. -
more
Courtesy AISI
- In the week ending June 21, 2014, domestic raw steel production was 1,880,000
net tons while the capability utilization rate was 78.2 percent. Production
was 1,824,000 net tons in the week ending June 21, 2013, while the capability
utilization then was 76.1 percent. The current week production represents
a 3.1 percent increase from the same period in the previous year. Production
for the week ending June 21, 2014 is up 1.6 percent from the previous week
ending June 14, 2014 when production was 1,850,000 net tons and the rate
of capability utilization was 76.9 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, June 23
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
$8.35/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.10/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses fell on Friday and ended the week just over the
304,600 tonne level. The WBMS reported last week that the global surplus
of nickel from January thru April of this year totaled 30,000 tons. Chinese
media, not the one we typically quote each week, is reporting stockpiles
of nickel ore at Chinese five major ports rose 193,000 tons last week. We
should have a report from our normal source tomorrow. The HSBC flash
manufacturing PMI for China was reported as 50.8, up from 49.4 in May. This
has added some positive momentum to metals to start the final full week of
June.
Average price of cash nickel so far this month - $8.44/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China Nickel Imports and Exports Data May 2014 -
more
Nickel king Potanin’s son won't testify in alimony case -
more
Mainland iron ore traders starved of credit as banks clamp down -
more
Upbeat China PMI boosts Asia equities, Aussie; oil up on Iraq -
more
Nickel's record-breaking week dampens bull spirits: Andy Home - It's been
a record-breaking week for nickel, albeit not the kind to do much for this
market's punchy bull narrative. -
more
London
Metal Exchange to keep open outcry ring - The London Metal Exchange (LME)
will keep its open-outcry trading ring, it said on Monday, bucking a trend
by most other markets to shift to all-electronic operations. -
more
China
metals probe likely a short-term problem: Clyde Russell - The brouhaha over
suspected metal financing fraud at China's Qingdao port is likely to cause
short-term angst, but longer-term gains. -
more
Commodities
Forecast Update: Nearing A Crossroads?? - The second half of the year could
prove quite interesting for commodities markets. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, June 20
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
$8.42/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
lower, while other
London traded base metals are trading higher. Stockpiles of nickel stored
in LME approved warehouses fell slightly on Thursday and now total just over
the 305,300 tonne level. Stockpiles rose sharply this week, putting the kabosh
on a sudden bounce in the price of nickel. The Globe and Mail is reporting
Xstrata's former boss, Mick Davis, made a bid for BHP's nickel assets, but
it was rejected as too low. So far, it appears nickel will end the week higher,
than last, with the average monthly price slipping about $.04/cents/pound.
Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $8.45/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
Rio Tinto Cuts Price of Low-Grade Iron Ore to $73/Tonne; Operator of Cairn
Hill Iron Ore Project Placed in Administration -
more
Price
of South African FeCr for Taiwan in Jul-Sept Settled - According to plural
information sources, the price negotiations for the period from July to September
in 2014 which major stainless steel mills in Taiwan had with ferro-chrome
producers in South Africa and India seem to have come to an agreement with
a price hike from the period from April to June. -
more
Indonesia
sets mining export tax cut in draft regulation-official - Indonesia is drafting
a new mining export tax that would more than halve the base rate to be paid
by miners but doubts remain whether it would be accepted by major copper
miners and end a five-month-old dispute that has halted concentrate exports.
-
more
Study warns
against piecemeal planning for ‘Ring of Fire’ - Exploitation of
Ontario’s Far North offers the potential for huge economic benefits
but also could result in conflict and large-scale environmental degradation
unless a comprehensive, regionally-based planning is used before development
gets underway, a new scientific paper indicates. -
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 19
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
$8.44/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.12/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
licensed warehouses slipped from its all time record high on Wednesday and
now totals just over the 305,350 tonne level. After jumping around $1000/tonne
in two days, nickel is now on its second day of retreat, but still well ahead
of where this bounce started from. Not much in the way of market news today.
Average price of cash nickel so far this month - $8.45/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Indonesian miners delay alumina refinery plans on legal uncertainty -
more
Dumped! Giant Marilyn Monroe Thrown Out with the Trash -
more
Japan's CR
Austenitic Stainless Sheet Mills to Maintain $3,200 CFR Level - Chinese major
mills of austenitic stainless steel sheets are expected to set out their
domestic prices of cold-rolled (CR) austenitic stainless sheets for July
shipment as early as this week, and attention is paid to what extent they
will reduce their prices. -
more
Govt Still
Studying Controversial Nickel Mine in Chin State: Minister - Burma’s
Deputy Minister for Mines Than Tun Aung has told the Upper House on Wednesday
that his ministry has yet to approve a controversial nickel mine project,
located on the border of Chin State and Sagaing Division, state-owned media
reported. -
more
Munali Nickel
Mine re-opens at $40m - Consolidated Nickel Mines PLC of the United Kingdom,
which has assumed the running of Munali Nickel Mine, will spend an estimated
US$40 million in the initial recapitalisation to resume operations. -
more
3D Printing with Stainless Steel - Over the last 100 years, stainless steel
has played a vital role in many industries ranging from nuclear energy and,
healthcare, right through to domestic appliances we use every day. Now
manufacturers are looking to increase the potential of Stainless Steel even
further by combining it with 3D printing. -
more
Museum
displays rare stainless steel Ford in Indiana - A northeastern Indiana auto
museum is displaying a rare stainless steel Ford dating to the 1930s that's
so shiny it's considered a "mirror on wheels." -
more
Potanin
set to limit his ex-spouse’s right to alimony - On June 23, a magistrate
court will hear a lawsuit filed by Norilsk Nickel CEO Vladimir Potanin, who
has asked the court to change the alimony procedure in favor of his underage
son, his former spouse’s lawyer told RAPSI on Wednesday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, June 18
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
$8.72/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.14/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel are the story
today. Not only did they rise to a new record high on Tuesday, they saw one
of the biggest increases, if not 'the' biggest one day increase, we have
ever recorded. Over 19,242 tonnes were added to LME licenses warehouses
yesterday, a 6.7% increase in a single day. Stockpiles ended the day at 305,970
tonnes, the first time in history that LME warehouses have held over 300,000
tonnes of nickel. Can we all say it together? Not yet!! So are we the only
ones that smell a rotten egg here? Nickel prices slip for a month, then in
two days jump over $1000/tonne, only to see a huge shipment arrive the second
day? Coincidence? Look to $8.80/lb for resistance, unless the stockpile numbers
spook the market more than it has this morning. Technical signals remain
bullish.
Average price of cash nickel so far this month - $8.45/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) China’s power consumption grew by 5.3% year-on-year in May 2014,
up from 4.6% in April, according to data from the National Energy Administration.
China's base
metals output climbs in May, showing demand ticking - China's production
of base metals including copper, aluminium and zinc was higher in May, government
data showed, driven by higher prices and seasonal demand. -
more
May Increases
in the United States, Decreases in Canada - Shipment growth for steel and
aluminum in the United States continued in May but at roughly half the rate
of growth displayed in April. -
more
New
documentary on mining and Kanak rights for NZ film festival - A groundbreaking
documentary about a coastal Kanak community and the pollution of their
traditional fishing grounds in New Caledonia will be premiered at the New
Zealand International Film Festival next month. -
more
The effects
of nickel ore and bauxite export bans could linger - As minor bulks, nickel
ore and bauxite generally carry less influence over dry bulk shipping companies
such as Navios Maritime Holdings Inc., Diana Shipping Inc. , Safe Bulkers
Inc., and Star Bulk Carriers Corp., as well as the Guggenheim Shipping ETF.
-
more
Nickel Institute published a new Nickel Plating Handbook - The Nickel Institute
has published the Nickel Plating Handbook, a free 78-page comprehensive guide
to electroplating written by plating industry specialists, Ian Rose and Clive
Whittington. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, 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
$8.50/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.18/lb
lower, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME rose on Monday and now total just 24 tonnes shy of the all time record
high. According to Chinese media, laterite nickel ore stockpiles at Chinese
ports fell during the last week, from 22.74 million tons to 22.21 million
tons.That may not seem like a big change at first glance, but compared to
the last few weeks of gains, this is a fairly big hit. We will be looking
very closely at next weeks numbers to see if this is the beginning of a new
trend. Meanwhile stockpiles of nickel held in LME warehouses are all time
highs. Yesterdays bounce is showing some staying power, with a second day
of strong price gain taking place so far today.
Average price of cash nickel so far this month - $8.44/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
EU to probe
China, Taiwan stainless steel imports - industry head - The European Commission
will launch an investigation by the end of this month into alleged dumping
of stainless steel into the European Union by Chinese and Taiwanese producers,
a leading executive told Reuters. -
more
Stainless scrap prices gather momentum - Global: Despite some ups and downs,
the 304 grade of stainless steel scrap still finished last month at US$ 1800-1850
per tonne - well above the late-April level of US$ 1710-1760 given in Recycling
International's May issue. -
more
Commodity
expert sees Ontario minerals ascending - Commodity expert Patricia Mohr told
miners that global economic forces indicate improvement in markets for Ontario
minerals. Mohr, Scotiabank VP of economics and commodity market specialist,
was the featured speaker at an Ontario Mining Association board of directors
meeting held earlier this month. -
more
British
Mining Giant Re-opens Zambian Nickel Mine - British mining giant, Consolidated
Mining Investments (CMI) has taken over struggling Zambian nickel mine,
previously ran by Chinese company, Jinchuan Group of China. -
more
China's base
metals output climbs in May, showing demand ticking - China's production
of base metals including copper, aluminium and zinc was higher in May, government
data showed, driven by higher prices and seasonal demand. -
more
Is nickel
the metal to back in 2014? - Nickel is having a knock-out 2014. While concern
over slowing growth in China has seen sell-offs in base metals including
copper, zinc and lead, the price of nickel has rallied more than 50% since
the start of the year. -
more
HC halts
renewal of Sukinda mines' licence to Tata Steel - The Orissa High Court on
June 11 ordered the state government to restrain from taking a decision on
the grant or renewal of Tata Steel's mining licence for chromite mines in
Sukinda in Jajpur district till June 19, the next hearing. -
more
Courtesy AISI
- In the week ending June 14, 2014, domestic raw steel production was 1,850,000
net tons while the capability utilization rate was 76.9 percent. Production
was 1,824,000 net tons in the week ending June 14, 2013, while the capability
utilization then was 76.1 percent. The current week production represents
a 1.4 percent increase from the same period in the previous year. Production
for the week ending June 14, 2014 is up 0.3 percent from the previous week
ending June 7, 2014 when production was 1,845,000 net tons and the rate of
capability utilization was 76.7 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, June 16
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
$8.20/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.15/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME approved warehouses fell slightly on Friday and ended the week
totalling just over the 286,650 tonne level. After closing at support for
two consecutive sessions, nickel has bounced higher this morning. Momentum
appears positive but we will have to wait and see if this turns out to be
more than a dead cat bounce off support. Mid and long term pricing trends
for nickel remain positive, while short term is less enthusiastic. The average
price of nickel was $8.80/lb last month and as of today, nickel has averaged
$.40/lb lower this month. We are still waiting to see weekly ore stockpile
numbers from China, while LME totals are just 84 tonnes shy of its all time
record high.
Average price of cash nickel so far this month - $8.45/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Indonesia to amend tin export rules - officials -
more
Standoff
with Indians blocking entrance to mining project in Brazil's Amazon end
peacefully. - A two-day standoff with Indians who had blocked an entrance
to a mining project in the Amazon where 50 workers were holed up has ended
peacefully. -
more
Qingdao metals
probe may help LME, Hong Kong commodities trading plan - The Qingdao port
warehouse scandal has exposed the weakness of the mainland metals and related
financing system, which may eventually benefit the London Metal Exchange
and Hong Kong's plan to develop commodities trading later this year. -
more
Bindura
Nickel Corporation projects higher profits - Bindura Nickel Corporation Limited
taxed profit is expected to be higher for the second half of the financial
year ended March 31 2014 due to the improvement of output at Trojan Mine.
-
more
Surigao
Norte LGU refuses to issue biz permit to mining firm for failure to pay taxes
- Until today the municipal government of Claver in Surigao del Norte has
not issued a business permit to a mining firm because the company failed
to settle its business tax. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, June 13
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
$8.20/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses rose on Thursday, and total just shy of Tuesday's
all time record high. Major nickel supply deficits coming? Not yet! Nickel
is trading higher this morning, but isn't showing much enthusiasm. We show
the market closed at a key support level last night, so this may explain
the lack lustre trading today. It is interesting reading some of the metal
analysts sites that make their money selling information. This morning we
have two opposing views of what has been happening in nickel. One, based
in England, described the nickel market today as "High-priced nickel and
tin saw steeper corrections, falling to their lowest for two and three months
respectively." The other, a newer one from the US stated in a commentary
today "It’s hard to describe the last week in commodities metals. Nickel
continued its inexorable climb toward $20,000 a ton." The truth? Nickel prices
leaked out mid last month in the mid $9/lb range and have been sliding ever
since. Score one for the Brits. Enjoy your weekend and may it be a safe one.
To all the US fathers - Happy Father's Day.
Average price of cash nickel so far this month - $8.49/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
South African mining union leader says wage deal imminent -
more
US government to probe Taiwanese steel nail imports -
more
BIR Stainless
Steel World Mirror May 2014 - The banning of ore exports from Indonesia -
a key raw material source for China’s nickel pig iron (NPI) production
- has helped propel nickel prices to levels not witnessed for a number of
years. -
more
China port
fraud probe prompted by corruption inquiry - The trail that led investigators
to a suspected metal financing scam at China's Qingdao port which has spooked
Western banks and hit global metals prices began with a Communist Party
corruption probe 1,000 miles away in the old Silk Road city of Xining. -
more
Qingdao metals fraud probe focusing on Decheng Mining - China's investigation
of whether metals stockpiled at Qingdao Port fall short of collateral obligations
used to secure loans is focused on Decheng Mining, said two bankers assisting
with the probe. -
more
DR national park approval threatens Glencore nickel mine - A senate committee
has backed plans for a national park at Loma Miranda in the Dominican Republic,
which could undermine the future of Glencore's nickel operations in the country.
-
more
Completion
of independent study of BNC nickel smelter accelerated restart plan - Mwana
is pleased to announce the completion of an independent study of an accelerated
restart plan for the nickel smelter of its 76.3% owned, Zimbabwe-based
subsidiary, Bindura Nickel Corporation. -
more
Clive
Palmer pays outstanding $2.73m on carbon tax bill - Clive Palmer’s
Queensland Nickel has paid its entire outstanding $2.73m carbon tax debt
just weeks before the Palmer United party takes up its crucial crossbench
seats in the Senate. -
more
China Steel
Output Hits Record in May - China's crude steel output in May rose 2.6% from
a year earlier to a record 70.43 million metric tons, the National Bureau
of Statistics said Friday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, June 12
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
$8.30/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses fell from yesterday's record high and ended the
day just under the 286,500 tonne level. Nickel traded below its 50 day moving
average yesterday, and threatening to test support at $8.20/lb. Markets are
keeping a nervous eye on Iraq, and another on the start of the World Cup
in Brazil. Markets have been quiet so far this morning, but there is still
1/2 a day of trading to go in London.
Average price of cash nickel so far this month - $8.53/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) The US domestic price for hot rolled band dropped sharply at the start
of June 2014 to $750/t, down $13/t from the 26 month high it reached at the
end of May.
Call
for more limits on NCal nickel plant - An environmental non government
organisation in New Caledonia says the conditions given to the Vale nickel
processing plant on its re-opening are not enough to protect the environment.
-
more
NGO says PNG no guinea pig - An environmental non government organisation
in New Caledonia says the conditions given to the Vale nickel processing
plant on its re-opening are not enough to protect the environment -
more
Solomon
Islands nickel ore legal fight nears decision - A court ruling in the Solomon
Islands may finally unlock a large nickel deposit that geologists have known
about for half a century but have been unable to exploit because of ownership
changes and legal wrangling. -
more
Production
of Stainless Steel Products in March 2014 Is 268,079 Tons = Up by 16% from
prior month, and production of Ni-type is at high level for first time in
3 years = The Ministry of Economy, Trade and Industry announced the production
volume of stainless steel products (hot-rolled products) in March 2014 was
268,079 tons, which represented an increase of 15.8% versus the prior month
and an increase of 12.2% versus the year-earlier month. -
more
Building
smelters could be at the heart of quality jobs creation - Giving mining companies
four more years to build smelters (in tandem or singularly) in accordance
with the 2009 Mining Law is a mistake, as is lowering export taxes. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, June 11
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
$8.48/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.23/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickels stored
in LME approved warehouses rose to a new all time record high on Tuesday
and now total 286,752 tonnes. Can we all say it together? Not yet! Nickel's
short term trend has turned negative although the long term remains bullish.
Look for $8.20/lb for support. The World Bank cut its forecast for world
growth in 2014 to 2.8%, down from an earlier forecast of 3.2%. A warning
of a potential hard landing in China by the World Bank has caught commodity
traders attention.
Average price of cash nickel so far this month - $8.56/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Shift metals in China to secure warehouses, banks tell clients -
more
World Bank cuts growth forecast for China to 7.6pc -
more
Nickel
Declines to Four-Week Low as Bullsh Cut Their Bets - Nickel fell in London
to the lowest level in almost four weeks amid liquidation of some bets on
rising prices. -
more
All Change in the Stainless Steel Recycling Market BIR Convention Told- In
a dramatic turnaround Europe will have a surplus of scrap stainless steel
this year and will need to export, while the U.S. market has moved in the
opposite direction from surplus to shortage, heard delegates at this year’s
Bureau of International Recycling (BIR) Stainless Steel & Special Alloys
Committee meeting, held in Miami. -
more
Japanese
Stainless Steel Production Rises during March ‘14 - According to the
latest government data, the Japanese stainless steel production increased
during the month of March this year. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, June 10
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
$8.58/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 licensed warehouses rose to 48 tonnes shy of the all time record high
of 286,674 tonnes, established back on March 27th. Instead of sounding like
a broken record and reminding readers that the forecasted shortages to be
brought on by the Indonesia nickel ore export ban have yet to show themselves
- we will only say 'not yet' and as regular readers see these words in the
future, they will know what we are saying. So in reference to LME nickel
stockpiles coming within a hair of an all time record high yesterday - not
yet. Not much more to report today. Buyers who haven't been, should start
paying attention to the port negotiations on the west coast. Any strike could
paralyze the flow of imports from Asia into the US. Two articles below
under Commodity/Economic Comments.
Average price of cash nickel so far this month - $8.59/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China Commodity Financing Seen Declining by Goldman Sachs -
more
Copper stockpiles could wash back into market amid probe fallout -
more
US imports surge ahead of possible port disruption -
more
Global Port Tracker report: Potential labor disruption drives June import
volumes -
more
Glencore: Rising nickel prices makes it ripe to mine Loma Miranda - Rising
nickel prices and projections that the global market’s supply won’t
meet the demand during the next few years provides the country its best
opportunity to make a decision about mining at Loma Miranda (central), affirmed
David Soares, CEO of Glencore’s local operation, Falcondo. -
more
South
Africa more competitive than China in ferrochrome: IFL - South Africa should
be able to snatch back the top spot in global ferrochrome production from
China within five years thanks to cost-cutting, says one of Africa's biggest
producers, International Ferro Metals. -
more
Platts China
Steel Sentiment Index Suggests Minimal Demand Growth in June Monthly Index
Totaled 51.93, up 1.58 Points From May's Reading of 50.34 - The health of
China's steel sector continues steady, with optimism having leveled off from
early-year increases and the sector now anticipating minimal gains in demand
in June, according to the latest Platts China Steel Sentiment Index (Platts
CSSI), which showed a reading of 51.93 out of a possible 100. This is up
1.58 points from the May level of 50.34. -
more
Nickel goes downhill, keep stainless steel market in check - LME nickel this
week hovers around $18,800 and show further signs of going downhill. The
stainless steel scrap market is kept in check. -
more
Dramatic
period for both Europe and the USA - Two leading experts in the field of
stainless steel scrap highlighted fundamental developments on both sides
of the Atlantic at the latest BIR Stainless Steel & Special Alloys Committee
meeting, held in Miami on June 3. -
more
Non-mining
areas key issue - The Energy and Mineral Resources Ministry and nickel miner
PT Vale Indonesia are still hammering out issues relating to Vale’s
contract renegotiation. -
more
Courtesy AISI
- In the week ending June 7, 2014, domestic raw steel production was 1,845,000
net tons while the capability utilization rate was 76.7 percent. Production
was 1,824,000 net tons in the week ending June 7, 2013, while the capability
utilization then was 76.1 percent. The current week production represents
a 1.2 percent increase from the same period in the previous year. Production
for the week ending June 7, 2014 is down 2.6 percent from the previous week
ending May 31, 2014 when production was 1,895,000 net tons and the rate of
capability utilization was 78.8 percent.
China-fuelled
mining boom a double edged sword for Queensland - China-fuelled mining boom
in the Australian state of Queensland has raised fears of longer-term economic
and environmental damage -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, June 9
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
$8.66/lb. Indicators at
6:50 am CST today show 3 month nickel trading
unchanged, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME licensed warehouses rose on Friday and ended the week just
over the 284,700 tonne level. Chinese media reports stockpiles of nickel
ore stocked at Chinese ports rose last week, from 22.41 million tons on May
30th, to 22.74 million tons last Friday. So again, while analysts warn of
coming nickel shortages, nickel stockpiles of both ore and processed nickel,
in China and elsewhere, continue to grow. Nickel continues to trade within
a narrow range, with little momentum to turn either way. Two separate online
surveys in China amongst metals analysts and traders show the market there
is betting the price of nickel will drop this week, by a margin of 3 to 2.
The weakness in the Euro continues to add external pressure on base metals
trading.
Average price of cash nickel so far this month - $8.60/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China's
commodities imports fall in May on high stocks, tighter credit - China's
imports of major commodities fell in May from the previous month, official
customs data showed on Sunday, as companies scaled back on orders after robust
shipments in the previous months caused a supply overhang. -
more
June Ni SUS
Scrap Price Likely to Be at JPY190,000's Per Ton = Purchase price by traders
in Kanto Area is occasionally seen to be slightly over JPY190,000 = The purchase
price of nickel-containing stainless steel scrap (SABOT) to be purchased
by Japanese stainless steel mills in June 2014 is slightly possible to run
up to a level of JPY190,000 per ton. -
more
Jubilee
to build independent chrome, PGM processing plant - As Aim- and AltX-listed
Jubilee Platinum continues negotiations with Platinum Australia subsidiary
PhokaThaba Platinum for the interim processing of tailings from the Limpopo-based
Dilokong chrome mine (DCM), the group on Monday announced the signing of
an agreement with ASA Metals that could see the establishment of a
“purpose-built” chrome and platinum processing plant at the mine.
- more
Vale's
New Caledonian Nickel Plant Set to Resume Production within 10 Days - Vale
SA’s New Caledonian Nickel Plant, holder of the second biggest reserves
in the world is all set to resume the nickel production within 10 days, followed
by a permission granted by the government to restart the plant operations.
-
more
Mines
trim fat as appetite for metals wanes - China’s reduced craving for
raw materials is driving mining companies to adopt extreme measures to cut
costs amid steadily falling prices. -
more
How
Chinese Commodity Financing Deals Work, And The Worry Behind Them - The
widespread use of commodities like copper and iron ore as loan collateral
has drawn attention and concern from the Chinese government and markets.
-
more
China's Qingdao
Port suspends some metal delivery over fraud probe -sources - China's Qingdao
Port has sealed its Dagang bonded metal storage area and suspended delivery
of metals from the section, as authorities investigate an alleged fraud into
financing of copper, aluminium and alumina, two sources with direct knowledge
of the matter said. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, June 6
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
$8.63/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.16/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses fell on Thursday and now total just under the
284,000 tonne level. It could be argued that the short term trend has turned
slightly negative, with a downward trend in place since May 13th. It could
also be argued the technical H-L points since May 13th are revealing somewhat
of a triangle, with daily spreads growing smaller as the market trades sideways
to slightly downward. The problem with technical triangles, is when they
reach the apex (the sharp point), they have a habit of making a sudden and
major price shift, one way or another. If this technical theory proves legit,
then we would guess the momentum for any sudden price movement, could be
to the negative. And while we buy many of the technical theories, we also
part ways with those who believe outside factors make little difference.
We wouldn't be where are at in price today, if it were not for what is happening
in Indonesia. That said, its all a big fat guess, and we try to limit our
guesses because we get tired of being wrong. Have a safe and relaxing
weekend.
Average price of cash nickel so far this month - $8.66/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
(MB) Taigang Stainless Steel cuts high carbon ferro-chrome price for June
Copper premiums fall on worries about financing -
more
Time to end commodities as finance tools in China: Clyde Russell -
The mad dash by banks and traders to see who owns what metal inventories
at China's Qingdao port should help bring a swift, and much-needed, end to
the practice of using commodities for credit. -
more
Chinese
firms to build $5b steel industrial park - Several Chinese firms plan to
invest up to US$5 billion to develop an industrial park in Bantaeng regency,
South Sulawesi, which is slated to become Indonesia’s first integrated
iron-and-steel industrial park. -
more
Clive
Palmer resigns as director of Mineralogy ahead of court case with Chinese
conglomerate - Federal MP Clive Palmer has resigned as director of his own
company Mineralogy, as it faces a court battle with a Chinese conglomerate.
-
more
Falconbridge Dominicana analyzes Senate Committee report on Loma Miranda
- The mining company Falconbridge Dominicana on Thursday said it’s in
a process of review and analysis of the report rendered by the SpecialSenate
Committee studying the bill that seeks to declare Loma Miranda as a national
park. -
more
No mining
resolution was ‘best case scenario’ - Ken Martin got what he had
hoped for at the DFL State Convention last weekend regarding the
copper/nickel/precious metals mining issue on the Range: Nothing — no
resolution for or against debated on the floor. -
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 5
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
$8.69/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME licensed warehouses rose on Wednesday and now total just over
the 284,300 tonne level. Per the Jakarta Post article linked below - the
frontrunner in Indonesia'a presidential election backs the mineral export
ban Indonesia put in place at the beginning of the year and has no
plans to discontinue it. That is very supportive news for nickel trading
but it is possible the market has already given up on those analysts who
have continued to predict Indonesia will eventually overturn the export ban.
The market continues to trade within the $19,000 to $19,500 tonne range and
is having a diffcult time finding momentum beyond sideways movement.
Average price of cash nickel so far this month - $8.67/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Joko
to Keep Indonesia Ore Ban, Limit Expansion of Plantations - Indonesian
presidential frontrunner Joko Widodo, popularly known as Jokowi, will keep
an export ban on mineral ores that has rattled global metals markets, his
running mate for the July election, Jusuf Kalla, said in Jakarta yesterday.
-
more
Glencore’s Dominican Republic mine plan dealt another stunning setback
- The Special Senate Committee charged with studying the bill to create Loma
Miranda National Park on Wednesday rendered a report which favors the initiative,
the latest in a series of stunning setbacks for Glencore Falcondo’s
planned nickel mine in central La Vega province. -
more
StanChart
suspends some metals financing in China-sources - Standard Chartered
has suspended new metal financing to some customers in China, three sources
familiar with the matter said, as banks and trading houses review their exposure
after a probe into trade financing at the port of Qingdao. -
more
Russia cuts
imports of stainless steel seamless tubes - According to SpetsStal, in the
1st quarter of 2014, compared with the equal period of the previous year,
the apparent volume of imports of stainless steel seamless tubes dropped
47.5% to only 2,128 tons. -
more
Poseidon
Nickel targets Mt Windarra nickel production this year - Poseidon Nickel
is taking steps to enable its Mt Windarra Nickel Mine in Western Australia
to begin production later this year by restarting mine refurbishment activities
and employing new personnel. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, June 4
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
$8.63/lb
. Indicators
at 6:50 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 licensed warehouses fell for a third session and now total just over
the 283,750 tonne level. From China, media is reporting stockpiles of nickel
ore held at Chinese ports rose for a second week, and was at 19.66 million
tons today, compared to 19.4 million tons on May 26th. These Chinese gains
were in harmony with gains seen in LME warehouses during the same period.
Nickel is feeling pressure from a weaker Euro again today, and is flirting
with a psychological support level of $19,000/tonne. We show strong support
more closer to the $18,000 tonne level. The short term trend for nickel remains
sideways, while the long term trend remains bullish. We are only speculating,
but it is possible the problem at a Chinese port is making traders nervous
as it could turn into a bigger
issue (more here).
Average price of cash nickel so far this month - $8.71/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
ScotiaBank Commodity Price Index - 5/28/14 - World mined nickel supplies
will plunge by 20% in 2014 due to the Indonesian ban. The net result, the
nickel price forecast has been revised up to an average of US$8.30 in 2014,
US$10.75 in 2015 and US$12.50 in 2016. Canada will climb back into No. 3
spot in world nickel production this year, after the Philippines (No. 1,
based on ore shipped to China for NPI) and Russia (No. 2).
Copper miners agree on Indonesia's export tax, talks to continue -
more
Indonesian minister spearheads drive to restart copper exports -
more
Nickel
Gain Enables BHP to Anglo to Sell Mines: Real M&A - Diversified mining
companies such as BHP Billiton Ltd. (BHP) and Anglo American Plc (AAL)
don’t see the metal as strategic because it generates less cash than
other commodities and requires more investment. -
more
Indonesian
gov't, Vale corp., reach deals on contract renegotiation - Indonesia's Ministry
of Energy and Mines and Brazil-based Vale corporation's subsidiary PT Vale
Indonesia have completed contract renegotiation and plan to sign MoU soon,
a minister disclosed here on Wednesday. -
more
WSA Releases
World Top Steel-Producing Countries, Companies = ArceloRmittal is a top producing
company, while India made a big leap= The World Steel Association (WSA) unveiled
on May 28th top 20 countries, top 10 companies and 10 countries with the
highest apparent steel use concerning the world crude steel production in
2013. -
more
The Reasons
for the Rise in Nickel Prices - Nickel prices have been trending downwards
in recent years, reaching a four and a half year low in December 2013. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, June 3
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
$8.82/lb. Indicators at
7:00 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 licensed warehouses fell for a second day on Monday and now total
just under the 284,000 tonne level. The Euro is trading against the US Dollar
at a 3-1/2 month low and this outside pressure is wearing on nickel traders.
Still no report from Russia on a seasonal shutdown of shipments for Yenisei
River flooding, and it is possible either Norilsk made no such report public,
or the flooding was not serious this year. Typically the two to four week
cessation in shipments begins in mid March and ends sometime in June. It
is possible that Norilsk keep this information quiet this year and did not
want to further inflame the nickel market. It appears Vale Goro plant in
New Caledonia has fired back up after a shutdown from another chemical spill
and public protests. This plant has faced strong opposition from its beginning
and its continuous 'accidents' just adds fuel to the fire and the most recent
reaction, was the most violent in years.
Average price of cash nickel so far this month - $8.80/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(CK) China, the world's largest steel producer, saw its crude steel output
increase 2.7% year on year to 271.86 million tons in the first four months
of this year, according to the latest statistics released by the National
Development and Reform Commission.
Minnesota DFL and GOP each facing challenges -
more
Europe stocks down, euro holds near lows after inflation data -
more
Tropical Pacific Ocean remains on track for El Niño in 2014 -
more
Stainless
Crude Steel Production by Major SUS Mills in April 268,379 Tons = Down by
6.1% from prior month and only Kinuura Works of Nisshin Steel increases
production = The stainless crude steel production by 6 major stainless steel
mills in April 2014 was 268,379 tons, down by 6.18% from 285,890 tons of
the prior month. -
more
China
Builds Sulawesi Smelters as Ore Ban Cuts Jobs - Since Indonesia banned ore
exports, the global nickel industry has been rocked by surging prices, Chinese
workers like Zhang Qi Guang are building smelters in Sulawesi and business
at Eva’s Jewel restaurant has collapsed. -
more
Call
for Vale shift from New Caledonia - A senior New Caledonian politician says
after the latest acid spill, the Vale nickel plant should be closed and ore
processing done elsewhere, possibly in Australia, New Zealand or Papua New
Guinea. -
more
Kola Peninsula
nickel production facilities issues itself license to continue to pollute
- A plan by the controversial Kola Mining and Metallurgy Combine (KMMC) near
the Norwegian border that will allow it to keep polluting at levels exceeding
norms possibly until 2018 was approved by the Murmansk Regional Ministry
for Natural Resources, Bellona has learned. -
more
Courtesy AISI
- In the week ending May 31, 2014, domestic raw steel production was 1,895,000
net tons while the capability utilization rate was 78.8 percent. Production
was 1,833,000 net tons in the week ending May 31, 2013, while the capability
utilization then was 76.5 percent. The current week production represents
a 3.4 percent increase from the same period in the previous year. Production
for the week ending May 31, 2014 is up 1.1 percent from the previous week
ending May 24, 2014 when production was 1,875,000 net tons and the rate of
capability utilization was 78.0 percent.
Stainless Steels for Lecturers and Students of Architecture and Civil Engineering
- The International Stainless Steel Forum (ISSF) has launched a series of
new educational resources to increase the use of stainless steel in the
architecture, building and construction (ABC) market.-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, June 2
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
$8.73/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.10/lb
higher, with other
London traded base metals trading higher as well. Stockpile of nickel stored
in LME licensed warehouses fell on Friday and ended the month of May just
over the 284,100 tonne level. This was a gain of 4,236 tonne for the month.
China markets are closed today for the Dragon Boat Festival and will return
to normal tomorrow. Chinese PMI numbers show improvement and the nickel market,
which ended on a bullish note Friday, is trading higher.
Average price of cash nickel so far this month - N/A
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) Taiwan’s Tang Eng to raise stainless steel prices for June
Belvedere Resources continuing to monitor nickel markets -
more
(China) Manufacturing hits this year's highest level -
more
Vale
Gets Permit to Restart New Caledonia Nickel Plant - Vale SA, the second-biggest
nickel producer, got permission to restart its New Caledonia plant. -
more
New Caledonia allows conditional restart of Vale nickel mine - New Caledonia
authorities said on Monday they have authorized a conditional restart of
Brazil-based Vale's nickel operations, which were suspended more than three
weeks ago after acid-tainted effluent spilled into a river. -
more
No arrests yet in New Caledonia over US$34m damage to nickel plant - More
than a week after demonstrators caused 34 million US dollars worth of damage
to the Vale nickel plant in New Caledonia, police are yet to make arrests.
-
more
Nickel
miner starts Tanzania drilling - Global resources company, MMG Exploration
Holding Limited (MMG) has started a major nickel sulphide drilling program
at Ntaka Hill, Southern Tanzania. -
more
PolyMet mining
issue cuts deep into DFL unity at state convention - Democrats averted a
nasty public fight Sunday over a controversial Iron Range copper-nickel mining
proposal that has vividly split powerful party factions. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply 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 $.08/lb
lower, with other
London traded base metals trading mostly lower. Stockpiles of nickel stored
in LME licensed warehouses fell on Friday and now totals just shy of the
304,900 tonne level. China media reports stockpiles of nickel ore stockpiles
at Chinese ports rose .17 million tons during the prior week and read 22.76
million tons today, compared to 22.59 million tons on the 20th. June has
turned out to be the story of two halves, with the first half seeing a big
decrease in the price of nickel, with the latter half seeing a recovery attempt.
It appears the average price of cash nickel will end June over $000/tonne
lower than it did in May. Nickel has traded within a $18,000 to $19,000 tonne
range for the last three weeks, and therefore the short term trend remains
neutral, while the long term remains bullish. Much of Canada is closed today
for a long weekend with Canada Day celebrations tomorrow. Today ends the
first half of 2014, and with official PMI numbers published tomorrow, markets
could be subdued today.
Reports
Commodity/Economic Comments
Mincor tips
long nickel run - Mincor founder David Moore says conditions behind the recent
nickel price spike could last up to five years, provided Indonesia's nickel
export ban stays in place. -
With
Indonesian Ban In Place, From Where Will Nickel Come? - In 2009, Indonesia
banned the export of nickel ore. We’re only just starting to feel the
repercussions. -
Australia's
dependency on China commodity appetite increases: Clyde Russell - Australia
still has the Union Jack on its flag and the British queen on its coins,
and was once described as the U.S. "deputy sheriff" in Asia, but the real
dependency relationship is with China. -
China's crude
steel output up 2.7% in Jan-May at 342 mln tons - China, the world's largest
steel producer, saw its crude steel output increase 2.7% year on year to
342.52 million tons in the first five months of this year, according to the
latest statistics released by the National Development and Reform Commission.
-
Indonesia
overtakes Brazil in forest losses despite moratorium - Indonesia has for
the first time surpassed Brazil in clearing tropical forests and losses are
accelerating despite a 2011 moratorium meant to protect wildlife and combat
climate change, scientists said on Sunday. -
An
extraordinary blessing - In a previous article, we have written about how
the Philippines is blessed in many different ways -
Morning Nickel
Price Statistics & Figures
Abbreviated update today
EU to examine
China, Taiwan stainless steel dumping claims - The European Commission has
launched an investigation into accusations that China and Taiwan have dumped
billions of dollars of stainless steel in Europe, a decision that could reignite
trade tensions with Beijing. -
Inquiries
of CR Austenitic Stainless Sheets Increase Significantly - Inquiries of
cold-rolled (CR) austenitic stainless steel sheets from overseas are currently
increasing. They are from end-users in China and so on, and the Japanese
stainless sheet mills consider those inquiries to be actual demand. While,
inquiries from stockists are still sluggish. -
Russian
nickel plant workers are ready to strike - Workers at the Buruktal Nickel
Plant (BNP) in Russia are getting ready to strike after the company failed
to sign a collective agreement for 2014-2016. It is the fourth labour dispute
with BNP in the last five years. -
Dominican Republic’s ‘dark interests’ sabotage National Park
bill .- “Dark interests” which have to be uncovered by lawmakers
and the Dominican people pressed the Chamber of Deputies to reject the
Senate’s version of the bill to create Loma Miranda National Park on
Wednesday. -
Axiom Mining
raises $1.1M, focus on Solomon Island projects - Axiom Mining has raised
$1.1 million through a private placement as it focuses on its West Guadalcanal
and Isabel Nickel projects in the Solomon Islands. -
A nickel
mine and the missing Placentia processing plant - It’s amazing how often
serendipity plays a role in uncovering a great story. -
INTERVIEW-No new nickel plants for New Caledonia-local govt - New Caledonia,
which this week allowed Brazil's Vale to restart its nickel operations after
an acid spill and subsequent riot, is not open to new mining plants, having
reached maximum capacity, an influential and newly-elected local government
official told Reuters on Wednesday. -
Courtesy AISI
- In the week ending June 21, 2014, domestic raw steel production was 1,880,000
net tons while the capability utilization rate was 78.2 percent. Production
was 1,824,000 net tons in the week ending June 21, 2013, while the capability
utilization then was 76.1 percent. The current week production represents
a 3.1 percent increase from the same period in the previous year. Production
for the week ending June 21, 2014 is up 1.6 percent from the previous week
ending June 14, 2014 when production was 1,850,000 net tons and the rate
of capability utilization was 76.9 percent.
Nickel's record-breaking week dampens bull spirits: Andy Home - It's been
a record-breaking week for nickel, albeit not the kind to do much for this
market's punchy bull narrative. -
Price
of South African FeCr for Taiwan in Jul-Sept Settled - According to plural
information sources, the price negotiations for the period from July to September
in 2014 which major stainless steel mills in Taiwan had with ferro-chrome
producers in South Africa and India seem to have come to an agreement with
a price hike from the period from April to June. -
Govt Still
Studying Controversial Nickel Mine in Chin State: Minister - Burma’s
Deputy Minister for Mines Than Tun Aung has told the Upper House on Wednesday
that his ministry has yet to approve a controversial nickel mine project,
located on the border of Chin State and Sagaing Division, state-owned media
reported. -
Munali Nickel
Mine re-opens at $40m - Consolidated Nickel Mines PLC of the United Kingdom,
which has assumed the running of Munali Nickel Mine, will spend an estimated
US$40 million in the initial recapitalisation to resume operations. -
HC halts
renewal of Sukinda mines' licence to Tata Steel - The Orissa High Court on
June 11 ordered the state government to restrain from taking a decision on
the grant or renewal of Tata Steel's mining licence for chromite mines in
Sukinda in Jajpur district till June 19, the next hearing. -
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.15/lb
Standoff
with Indians blocking entrance to mining project in Brazil's Amazon end
peacefully. - A two-day standoff with Indians who had blocked an entrance
to a mining project in the Amazon where 50 workers were holed up has ended
peacefully. -
Bindura
Nickel Corporation projects higher profits - Bindura Nickel Corporation Limited
taxed profit is expected to be higher for the second half of the financial
year ended March 31 2014 due to the improvement of output at Trojan Mine.
-
WSA Releases
World Top Steel-Producing Countries, Companies = ArceloRmittal is a top producing
company, while India made a big leap= The World Steel Association (WSA) unveiled
on May 28th top 20 countries, top 10 companies and 10 countries with the
highest apparent steel use concerning the world crude steel production in
2013. -
Nickel
miner starts Tanzania drilling - Global resources company, MMG Exploration
Holding Limited (MMG) has started a major nickel sulphide drilling program
at Ntaka Hill, Southern Tanzania. -
