This page is archived news covering the period of June 2014
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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls as Traders Pause Before Manufacturing Data - more
  • Reuters metals morning -

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 86.90
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Daily Iron Ore Mine Closings in China Make Citi Bullish - more
  • Anglo American plans platinum mine sales - Sunday Times - more
  • Falsified gold deals uncovered in China - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

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 - PMA ILWU 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Pares Climb Amid Expanding Supplies Free for Withdrawal - more
  • Reuters metals morning - Tin hits 4-month low, copper retreats from fresh high - more

  Reports

  • AIIS May Import Press Release - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 87.45
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Aluminum Rises to Two-Week High as Stockpiles Decline - more
  • Reuters metals morning - Copper steadies, Iraq concerns subdue gains - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 87.84
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Drops, Snapping 7-Day Gain as China Demand Slows - more
  • Reuters metals morning - LME copper flat as German data offsets growth cues elsewhere - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 88.15
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper near 3-week high; China data fuels gains - more
  • Reuters metals morning - Copper Extends Longest Rally in 2014 on Growth in China - more

  Reports

  • May 2014 crude steel production - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 88.39
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Zinc Advances to 16-Month High Amid Supply Concerns - more
  • LME Morning - Copper in longest winning streak since Dec on tight supply, zinc at 16-mth top - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 88.62
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - London copper steadies, but demand doubts persist - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - $88.69
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Gains Fourth Day Amid China’s Move to Spur Growth - more
  • Reuters metals morning - Nickel slides 2 percent as LME stocks surge to fresh record - more

  Reports

  • Damstahl Stainless Steel Report - June 2014 - pdf here
  • Oryx Stainless - One Man, Two Votes - pdf here
  • KPMG Global Metals Outlook 2014 - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 88.73
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Mining records: DNR document review #2 - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs Third Day on Demand Outlook in China, U.S. - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 88.99
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MP) China refined nickel imports down 10.08% in April 2014
  • Avanti Mining Receives an Amended Mines Act Permit for the Kitsault Project - more
  • El Nino Seen Delayed by Australia as Ocean Warming Eases - more
  • Pacific Ocean remains primed for an El Niño in 2014 - more
  • IMF cuts US growth forecast to 2pc - more

    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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs as China’s Central Bank Moves to Support Growth - more
  • Reuters metals morning - Copper up on China growth pledge, Qingdao probe impact fades - more

  Reports

  • IMOA publishes further case studies - more
  • All Metals & Forge Metals Outlook - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 89.03
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Pares Third Weekly Loss as Qingdao Probe Continues - more
  • Reuters metals morning - Copper steadies after losses, on track for third week of falls - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 89.56
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Trades Near June Low as Chinese Probe Might Curb Demand - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 89.98
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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.
  • Baosteel's July product prices stay flat - more

    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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises for Second Day as Stockpiles Drop Amid Probe - more
  • Reuters metals morning - Copper falls to month low on China metal financing worries - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 90.39
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls to one-month low on China metal financing concerns - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 90.80
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines as Lower Chinese Imports Stoke Demand Concern - more
  • Reuters metals morning - Copper at month low on port probe, strong China exports - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 91.18
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Set for 2nd Weekly Loss on Metal Warehousing Probe - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.63
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises From 3-Week Low Before ECB Rate Decision - more
  • Reuters metals morning - Aluminium rises on warehouse court case, copper slips on port probe - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 92.14
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls Amid Stronger Dollar and China Port Probe - more
  • Reuters metals morning - Copper falls to two-week low as supply tightness eases - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 92.87
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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).
  • Chinese firms more cautious about Africa - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines as Factory Orders Seen Slowing Down in U.S. - more
  • Reuters metals morning - Copper drops on expected Indonesian deal, Chinese port probe - more

  Reports

  • Fung Business PMI Report on China Manufacturing - pdf here
  • Dacapo Stainless - Prices stabilizing - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 93.34
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, June 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - no report
  • Reuters metals morning - no report

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 93.34
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

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