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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

Nickel Prices and Stainless Steel Bolts

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Thursday, June 27

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.20/lb . Indicators at 6:10 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 372,900 tonne level. On January 1st of this year, LME recorded nickel stockpiles totaling 372,066 tonnes and today's figures are only 804 tonnes higher. There is an excellent chance we will enter the second half of the year, lower than we entered the first half. Nickel prices continue to rise, as the base metals complex as a whole benefits by a surging Euro and a falling US Dollar. The upward trend that began on the 13th remains intact, and at least at the moment, short and mid term technical indicators remain positive. While Reuters is reporting copper and a few of the other base metals are trading at three month highs, nickel remains well off its April highs, reflecting continuing weakness. This is our last update for the week, month, and first half of 2017, and we hope each of you has a safe and relaxing weekend. Tuesday, the US will be celebrating its Independence, so Monday's trading from the States could be constrained as some traders take a four day weekend.
  • Average price of cash nickel so far this month - $4.04/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper hits near 3-month high as dollar falls - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Uncertainty Dampens Trading Activity in Emerging Steel Markets - more
  • Crude Steel Output Growth Stalled in Asia and Middle East; African Output Soared by 11% - more
  • Euro, Pound Rally as Traders Adjust Rates Outlook: Markets Wrap - more

     Weak demand from China stainless steel mills hits ferrochrome prices - Global prices of ferrochrome, used to make stainless steel, have tumbled to their lowest levels this year due to weaker demand from stainless steel mills in top producer China, according to traders in Asia and Europe. - more

     Philippines open-pit mining ban has "no legal basis" -govt official - A ban on open-pit mining in the Philippines enforced by former environment minister Regina Lopez has "no legal basis" and is under review, a senior government official said, the first sign that drastic measures she had ordered could be challenged. - more

     Nornickel bets on battery materials for electric cars - Russian miner Norilsk Nickel (Nornickel) wants to supply more manufacturers with the raw materials used to make batteries for electric vehicles, its head of marketing and sales told Reuters. - 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 news and information free of charge. Contact us

Wednesday, June 28

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.20/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and started the day just over the 373,900 tonne level. $4.25/lb is next line of resistance as nickel continues to rise, with only three days left in the quarter. Nickel jumped yesterday and got a boost from a spike in the Euro trading against the Dollar. Base metals are helped by a stronger Euro. Euro trading is quieter today, so far, and so is nickel trading. Nickel is trading above its 10 and 30 day moving average, with the 100 day running just over $4.40/lb. Short term technical indicators continue to send buy signals. We have seen different reasons for why nickel is suddenly rising, but are skeptical of them all. Trading is gambling and traders are either gambling demand will increase, or simply trading the trend.
  • Average price of cash nickel so far this month - $4.03/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper, lead and zinc slip after hitting near three-month highs - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Wind power's big bet: turbines taller than skyscrapers - more
  • Iron Ore Outlook Cut Back by Morgan Stanley Over Rest of Year - more
  • The MEPS Global All Products Composite Steel Price Continues to Slip - more
  • Euro Extends Gain, Bonds Drop; Europe Stocks Slump: Markets Wrap - more

     BASF, Norilsk Nickel eye supply deal on battery materials production in Europe - BASF and Norilsk Nickel say they signed an MoU and entered exclusive negotiations to cooperate on the supply of raw materials for lithium battery production in Europe. - more

     Nickel Dropped Pressured By Expectations Of More Supply - Nickel on MCX settled down -0.86% at 579.6 pressured by expectations of more supply from Philippines and Indonesia. - more

     Nickel Ore producer Global Ferronickel on track to meet 6M WMT shipment target - Global Ferronickel Holdings Inc. (FNI), the country's second-largest nickel ore producer, is on track to meet a shipment target of 6 million wet metric tons (WMT) this year, banking on the renewal of its permit in Surigao del Norte and additional supply from the Palawan mine. - more

     Nornickel announces completion of Talnakh Concentrator Modernization Project - The ultimate upgrade of Talnakh Concentrator Project is a key element of the downstream reconfiguration plan that is aimed at raising the working productivity and lessening the environmental impact of Nornickel’s manufacturing sites. - 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 news and information free of charge. Contact us

Tuesday, June 27

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.10/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 374,600 tonne mark. Trading price of nickel continues to trade above the $9000/tonne level, which has short term technical indicators nearly all flashing buy. Mid and long term indicators are more mixed, with some positive and others negative. After Allegheny published their July surcharge, AK Steel followed suit yesterday. We like the AK Steel monthly report as it shares the material costs they used to garner the surcharge. For july 2017 they show nickel at $4.0454/lb, compared to $3.9218/lb, for the same period last year. Chrome was $1.10/lb, compared to $.935/lb. Molybdenum, found in 316, was lower at $7.4666/lb, compared to $8.1829/lb. And iron was at $.37/lb compared to $.272/lb. Due to these costs differences, their 304 stainless surcharge for July 2017 is $.4323/lb, compared to $.3533/lb last year. Lower than last month, but higher than last year. S&P published their monthly steel sentiment index for China and it remains lackluster. And things are so slow in Australia, that the Daily Telegraph is giving updates on Clive Palmer's holiday to Europe, with clandestine photo's.
  • Average price of cash nickel so far this month - $4.03/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper prices turn higher in late Asia trading - more

  Reports

  • Damstahl Stainless Steel Report - June 2017 - pdf here
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Bloomberg - The S&P Global Platts China Steel Sentiment Index remained at a lackluster level -- 38.12 out of 100 points.
  • China Early Data Signal That Growth May Have Peaked for 2017 - more
  • China steel prices rise as govt crackdown offsets slow demand- more
  • Stocks Drop, Commodities Rise; Draghi Spurs Euro: Markets Wrap - more

     ANZ Suffered 'Substantial Losses' in Alleged Nickel Receipt Scam - Australia & New Zealand Banking Group Ltd. told a U.S. court that its commodities trading arm suffered “substantial losses” after it discovered that receipts for metal held in Glencore Plc’s Access World warehouses are probably fake. - more

     US stainless sheet surcharges fall on lower chrome costs - US stainless flats surcharges will drop in July alongside lower chrome costs, according to raw material levies published by domestic mills Monday. - more

     Nickel market is struggling with softening demand - Global nickel miners are coming under renewed pressure to cut costs or close capacity as a flood of cheap ore pushes prices to one-year lows, with analysts seeing little prospect of recovery, Reuters reported. - more

     Philippines Minister May Decide on Mining Closure Orders Next Month - The new Philippines environment minister said on Tuesday he may decide next month on the fate of dozens of mining operations and contracts that his predecessor ordered closed, suspended or cancelled to protect watersheds and other natural resources. - more

     EU launches dumping probe into Chinese, Russian, Turkish low-carbon ferrochrome - The European Commission has launched an antidumping investigation into imports of low-carbon ferrochrome originating in China, Russia and Turkey. - more

     Forthcoming GST regime will be a game changer for steel industry: ISSDA - Indian Stainless Steel Development Association (ISSDA), the country’s apex stainless steel industry body, has said the forthcoming GST regime will be a game changer for the industry. - more

     Independence ramps up Nova production - Independence Group (IGO) is ramping up production of the Nova nickel - copper - cobalt mine to name plate capacity. - more

     Expecting demand from govt infra projects, Tata Steel rejigs Kalinganagar plant expansion - Tata Steel plans to enhance production capacity at its Kalinganagar plant in Odisha to 8 million tonnes per annum, from three mtpa, in anticipation of incremental demand from the Centre’s ambitious infrastructure spend of ?4 lakh crore. - more

     Courtesy AISI - In the week ending on June 24, 2017, domestic raw steel production was 1,729,000 net tons while the capability utilization rate was 74.2 percent. Production was 1,755,000 net tons in the week ending June 24, 2016 while the capability utilization then was 75.1 percent. The current week production represents a 1.5 percent decrease from the same period in the previous year. Production for the week ending June 24, 2017 is down 0.6 percent from the previous week ending June 17, 2017 when production was 1,739,000 net tons and the rate of capability utilization was 74.6 percent. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • 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 news and information free of charge. Contact us

Monday, June 26

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.12/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the week just under the 375,000 tonne level. Nickel continues in what we would call a June trend, only broken by  a small spike on the 20th and 21st. On Friday, Allegheny Ludlum announced its stainless steel surcharges for July, and as predicted, we are seeing a drop. Maybe not as much as we expected, but after AK Steel published their surcharge, we will see if we can figure out the difference in last years and this. For example, the surcharge for 304 stainless steel for July of last year was $.3536/lb compared to $..4325/lb this year. Better than the $.5403/lb paid this month, but we will have to see if higher ferrochrome prices really offset the similar or lower prices of the other ingredients. Final week of the second quarter and first half of 2017, so we expect to see somewhat restrained trading this week, as trading houses square their books.
  • Average price of cash nickel so far this month - $4.02/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper edges back towards 11-week peak - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Thyssenkrupp signals steel merger decision by end Sept: works council - more
  • Iron ore reverts to supply-driven market after 2016 aberration: Russell - more
  • European Stocks Jump as Crude, Nestle Power Gains: Markets Wrap - more

      European ferrochrome price dips nearly 30% in quarter, Merafe says - Though down from the previous quarter, the price was 12% higher than the 98c in the third quarter of 2016, sending Merafe’s share price up 0.85%  - more

     World Nickel, Zinc and Tin markets moved to marginal deficits: WBMS - Refined Nickel production in Jan-Apr ’17 was 531.6 kt. The Chinese smelter/refinery production during the initial four-month period of the year witnessed decline of 26.0 kt compared to 2016. - more

     MGB seeks lifting of Pujada Nickel Project suspension - The Mines and Geosciences Bureau (MGB) in Davao Region hopes to have the suspension of Pujada Nickel Project in Davao Oriental be lifted with the appointment of the new environment secretary. - more

     Battle lines drawn over Zimbabwe chrome claim - On Saturday July 1, 2017 the Zimbabwe Mining and Smelting Company (Zimasco), the country's biggest ferrochrome producer, will officially surrender 22 700 hectares of chrome-rich claims to Government, but far from bringing cheer sabres are rattling and bows are bent. - more

  • Zindico files $20m lawsuit against Asa - more

    Norilsk Nickel participates in recreation of salmon population in Arctic - The Norilsk Nickel Company's Murmansk Transportation Branch (MTB) bought and released into waters of the Umba River in the Murmansk region 47,000 salmon fry. The company's press service said by restoring the Atlantic Salmon's population the company compensates for the impact on the environment. - more

     Over 80pc mining activities cover PNG - Mining exploration activities in Papua New Guinea cover over 80 percent of the country, according to the PNG Extractive Industries Transparency Initiative Report 2013. - more

     Cobalt Miners News For The Month Of June 2017 - (quote) Investors are reminded that cobalt is mostly mined as a byproduct of copper or nickel, hence many of the miners discussed below are not pure cobalt plays. - more

     Increased customs duty on stainless steel fasteners an ‘oversight’ - Cape Town-based fastener supplier Fastenright is appealing to the International Trade Administration Commission of South Africa (Itac) to remove the customs duty that was implemented on stainless steel fasteners on April 1. - 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 news and information free of charge. Contact us

Thursday, June 22

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.08/lb . Indicators at 6:20 am CST today show 3 month nickel trading flat and just a few dollars a ton higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started the day just over the 376,600 tonne level. It is obvious that traders or their computers did not want to see nickel closing for two consecutive days below $9000 per tonne, so it closed yesterday $5/ton above that level. It was a yo-up day, with nickel closing where it had on Monday, and recovering from the $185/tonne drop we witnessed on Tuesday. Nickel is now trading between its 10 day and 30 day moving average. It traders can concentrate on the $9000/per tonne level, they know the psychologically important $4/lb will stay in the rear view mirror. Entering the slow summer months, we will see how successful they are. This is our last weekly update so we invite you back next week and hope each of you has a a restful, safe and enjoyable weekend.
  • Average price of cash nickel so far this month - $4.01/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Aluminium hovers near 6-week low, at risk from oversupply - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Iron ore reverts to supply-driven market after 2016 aberration: Russell - more
  • China Bad Debt Prices Up 30% as New Gold Rush Gets Under Way - more

     Global nickel deficit narrows in April - INSG - A global deficit of refined nickel narrowed in April after a jump in refined metal output from Indonesia and China, data from the International Nickel Study Group showed on Thursday. - more

     Nickel smelters suffer with production boom - The effects of a government regulation permitting the extension of mineral concentrate exports continue to hit the nickel industry hard, with more than a dozen nickel pig iron smelters halting operations due to low global prices. - more

     BCL creditors may lose out - The company allegedly owes about P1 billion to its close to 700 creditors. Provisional liquidator, Nijel Dixon-Warren has said during an interview that creditors will have to wait to see whether a buyer can be secured to restart some, or all of the BCL operations. - more

     China steel mill spreads surging, as weak raw materials find foothold - Steel mill export product spreads with raw materials in China have surged in the past week on the back of a strong recovery in May, which may be incentivizing seaborne raw materials purchases as traders lock in margins. - more

     EU Steel Prices Decline due to High Inventories and Import Pressure - Flat product price weakness persists in both the north and south of Europe, according to MEPS. Spot business is slow amidst a reluctance to commit to forward transactions for third quarter business. - more

     Local View: Minnesotans could be left holding the bag after mining - Most Minnesotans have heard about the troubling risks that come with copper-nickel mining projects like the proposed PolyMet mine. - more

     Section 232 Investigation on the Effect of Imports of Steel on U.S. National Security - more

  • Wilbur Ross, Commerce Secretary, Sure Doesn't Understand The Steel Trade - more
  • American Institute for International Steel - 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 news and information free of charge. Contact us

Wednesday, June 21

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.00/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and now total just under the 377,100 tonne level. Nickel's bullish bump evaporated for the most point yesterday, caught up in an overall bearish mood in commodity and equity markets. Traders are a little less pessimistic today and nickel at the moment is higher, although still trading under $9000/tonne. The $4/lb level did hold again, which is a technical line that traders are fighting to stay above. Technical indicators are mixed this morning, with nickel trading above and below its 10 day moving average. World Steel Association reports worldwide steel production in MAy was 2% higher than the same time last year. EU warns that any action taken by the Trump administration because of the Section 232 investigation findings could be harmful to world steel trade. And down in Australia, where its the first day of winter, Clive Palmer files a defamation suit against one of the papers there.
  • Average price of cash nickel so far this month - $4.01/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper flat as strong dollar holds sway - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Reuters - London Metal Exchange tin stocks have sunk below 2,000 tonnes to the least since 1998, while benchmark LME tin prices have fallen more than 7 percent so far this year, making it the second worst performing base metal after nickel
  • Oil Slide Weighs on Stocks; Haven Assets Advance: Markets Wrap - more

     China's stainless steel glut a new headwind for nickel - International nickel prices have remained soft in recent months, with the price of the metal for three-month delivery on the London Metal Exchange down 20% to around $8,900 per ton from its most recent high reached in late February. - more

     May 2017 crude steel production - World crude steel production for the 67 countries reporting to the World Steel Association (worldsteel) was 143.3 million tonnes (Mt) in May 2017, a 2.0% increase compared to May 2016. - more

     Miners punished as iron ore price continues decline - The Northern China import price of 62% Fe content ore turned weaker again on Tuesday trading near one year-lows of $54.40 per dry metric tonne according to data supplied by The Steel Index. - more

     India Nickel Scrap prices advance in line with Nickel Futures - India's major nickel scrap prices advanced on the Scrap Register Price Index as on Monday in line with nickel futures prices at India's Multi Commodity Exchange mainly due to Indonesian nickel smelters cease operations due to falling prices. - more

     China’s plan to boost commodity trading needs reality check: Russell - The call by China’s securities regulator for the country’s wealth managers to invest in domestic commodity futures is both encouraging and somewhat bizarre. - more

     EU looking at firm actions if US S232 measures go ahead - The European Union is considering taking action in response to the US’s Section 232 investigation against steel imports, should this go ahead, as it could have a “disastrous” impact on world steel trade, said speakers at S&P Global Platts’ European Steel Markets conference in Barcelona Monday. - more

      Inside the wonderful world of Nickel - Nickel is without a doubt one of the most underrated metals in the world. First discovered in 1751, the chemical element is found in everything from televisions to batteries to stainless steel, making it one of several metals that makes modern life work. - more

     Clive Palmer sues newspaper for defamation - Clive Palmer is suing The Courier-Mail for defamation over an opinion piece published in the Queensland newspaper. - 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 news and information free of charge. Contact us

Tuesday, June 20

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.08/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses went unchanged on Monday and remain just under the 377,500 tonne mark. Nickel closed yesterday's trading just over teh $900/per tonne level for the first time this month. Nickel is now trading above its 10 day moving average, and right at its 30 day moving average. This has helped move short and longer term technical signals to the buy side. On the news side, the industry appears to be entering its summertime quiet period, where we find it hard to find news to link to for our readers. BMI Research is forecasting worldwide nickel production will grow in 2017, the first time in four years. Andy Home from Reuters looks into the recent drop in China steel exports, and Australia's Bureau of Meteorology cancels its El Nino Watch. Our daily average for the official cash close is running at $4.00/lb so far this month, compared to a June 2016 month end average fo $4.03/lb, and $4.16/lb last month.
  • Average price of cash nickel so far this month - $4.00/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - LME copper flat as stronger dollar caps gains - more

  Reports

  • Eurometal Outlook on Economies & Steel Markets - pdf here
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • El Niño WATCH cancelled; ENSO neutral likely for 2017 - more
  • The Daily Prophet: Has the Fed Looked at Commodities Lately? - more
  • Pound Drops on Carney; Europe Stocks Extend Gains: Markets Wrap - more

     Nickel production to grow for first time since 2013  - Global nickel production will come out of negative territory this year for the first time since 2013, driven by Indonesia’s export ban moderation, a new report published Monday shows. - more

     China to promote wealth management investment in commodities -regulator - China’s securities regulator said it will encourage wealth management firms to invest in commodity futures in a bid to promote its domestic derivatives industry and raise the amount of commodities in the nation’s assets under management. - more

     Chinese steel exports sliding sharply, but for how long? Andy Home - China's exports of steel product have fallen sharply over the first few months of this year. - more

     Courtesy AISI - In the week ending on June 17, 2017, domestic raw steel production was 1,739,000 net tons while the capability utilization rate was 74.6 percent. Production was 1,755,000 net tons in the week ending June 17, 2016 while the capability utilization then was 75.1 percent. The current week production represents a 0.9 percent decrease from the same period in the previous year. Production for the week ending June 17, 2017 is up 1.2 percent from the previous week ending June 10, 2017 when production was 1,718,000 net tons and the rate of capability utilization was 73.7 percent. - source

  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 news and information free of charge. Contact us

Monday, June 19

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.06/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME approved warehouses fell slightly on Thursday but rose on Friday and start the week just under teh 377,500 tonne level. Nickel spent the latter part of last week slowly climbing out from under $4/lb and that trend continues so far today. After an early dip that put the $4/lb level in jeopardy, nickel rebounded and has done little since, but remains at a five week high. Base metals are all positive this morning, which has been an uncommon sight lately. Nickel supply remains strong, while demand in China particularly, is questionable in light of surplus steel production and Chinese attempts to curb that extra production. Indonesia nickel ore smelters announced some shutdowns in light of lower prices.  
  • Average price of cash nickel so far this month - $4.00/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Zinc at two-week high on falling stocks, higher steel prices - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (TOI) Increased near-term risk with continued weakness in Chinese ferrochrome prices and softer EU stainless steel base prices prompts Kepler Cheuvreux to cut Outokumpu to "reduce"
  • Macron Victory Boosts Europe Stocks; Oil Declines: Markets Wrap - more

     Some Indonesian nickel smelters cease operations due to falling prices - About a dozen newly constructed nickel smelters in Indonesia have stopped operations due to a plunge in nickel prices while others are operating at a loss, an industry association executive said on Monday. - more

     Palmer blames CITIC for Qld Nickel collapse - Clive Palmer has launched into an anti-Chinese spray on the sidelines of his private company's trial with estranged joint venture partner CITIC, which he blames for the collapse of his Queensland Nickel business. - more

  • Clive Palmer defends $10k per head family cruise: ‘If it’s a crime to love your wife and children ... I am guilty’ - more

     Botswana to sell off copper, nickel firm - Botswana copper and nickel producer, BCL Ltd. will be sold off piecemeal after the company failed to find a buyer, its liquidator said on Friday. - more

     Shanghai steel extends gains, but shaky demand outlook drags - Chinese steel futures rose for a third day in a row on Friday but gave up bulk of the day's gains as the outlook for demand in the world's top steel consumer may not be too promising, particularly from its property sector. - more

     AIIS Steel Exports Press Release-April 2017 - Steel exports fell by nearly one-tenth from March to April, though they remained above the April 2016 level. - more

     China’s Delong to build $950m steel factory in Morowali - China’s Delong Holdings Limited plans to build a stainless steel factory in the Morowali Industrial Park in Central Sulawesi with an investment of around US$950 million, an official with the company said on Friday. - more

     Nickel shows potential for high-temperature superconductivity - A team of researchers at the U.S. Department of Energy’s (DOE) Argonne National Laboratory has identified a nickel oxide compound as an unconventional but promising candidate material for high-temperature superconductivity. - 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 news and information free of charge. Contact us

Thursday, June 15

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.06/lb . Indicators at 6:00 am CST today show 3 month nickel trading around  $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just under the 377,000 tonne level. Nickel bounced yesterday, even though the Euro dropped as the US Fed raised interest rates, which put negative price pressure on commodity trading. So far today, nickel has traded within a $50 per tonne range. Stainless steel surcharges should be announced next week and we expect to see them to be lower than this month. They shouldn't be as low as last June, thanks mostly to higher ferrochrome prices. Ferrochrome typically has a smaller effect on the daily price for of a pound of stainless steel, even though it makes up a greater part of the ingredient mix. As the price of nickel falls though, ferrochrome, which sells for about 25% of nickel these days, does have a greater effect on the overall cost. Nickel averaged $4.18/lb last April, and this month, is closer to $4.00/lb. Last May, US stainless steel producers added approximately $.33/lb in 304 stainless steel surcharge, and this year, after averaging $4.13/lb in May, the same surcharge was $.54/lb for June. Unless US producers of stainless steel have changed their formula, we expect the surcharge to come down next month. News is quiet today, and with this being our last update for the week, we thank you for visiting and wish each of you a safe and enjoyable weekend.
  • Average price of cash nickel so far this month - $4.00/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper price falls after U.S. rate rise - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (Kallanish) DMCI resumes nickel ore export
  • Commodity Drop Saps Stocks; Dollar Gains After Fed: Markets Wrap - more

     Nickel may remain bearish during the second half of June - It is now middle of June, and nickel ore market shows no improvement over the past two weeks of the month.  - more

     Ferrochrome producers cut output following fall in Chinese prices - Several producers of high-carbon ferrochrome have reduced output following a steep fall in Chinese prices, producers said Thursday. - more

    China's nonferrous metals production up in May - China's metal output during May, mainly 10 nonferrous metals increased by about 2.4 percent when compared to the corresponding period last year, as per National Bureau of Statistics. - more

     Air district takes action against smelly Paramount metal plant - The South Coast Air Quality Management District is cracking down on a Paramount metal manufacturing company that has received 17 violation notices since December for allegedly emitting odors. - more

     There Could Be an Infinite Number of Undiscovered Elements Awaiting Us in the Universe - Due to how vast the universe is, is it possible to find an element that is not on the periodic table? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world. - 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 news and information free of charge. Contact us

Wednesday, June 14

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $3.94/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just under the 376,500 tonne level. Nickel hit its lowest in a year yesterday when it closed at $3.94/lb. We show nickel closed at $3.77/lb last April 4th, and prior to that, we have to go back to 2003 to find nickel closing lower. Technically, nickel closing the last two consecutive days below $4/lb sends a negative signal, which with all of the other negative indicators flashing, does not look good for nickel prices rebounding anytime soon.
  • Average price of cash nickel so far this month - $4.00/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper prices ease ahead of U.S. Fed outlook - more

  Reports

  • Stainless steel raw material tracker – May 2017 - more
  • Section 232 Investigation Comments - pdf here
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Do Rechargeable Batteries Still Lose Power When They Aren't Being Used? - more
  • Europe Stocks Extend Win Streak; Oil Drops on Data: Markets Wrap - more

      Nickel at year low, zinc also down - Nickel prices have touched their lowest in a year while zinc has also fallen, pressured by a fall in Chinese steel prices and ahead of expected weaker Chinese data. - more

     Forces combine to push stainless scrap values lower - Global: Stainless steel scrap traders have been confronted with falling prices owing to a combination of weakening steel scrap values, a return to fourth quarter 2016 price levels for ferro-chrome and falling nickel quotations. - more

     IODEX slumps to near one-year low of $54/dmt on weak demand - Spot iron ore prices tumbled to a nearly 12-month low Tuesday as ongoing oversupply and cheaper substitute feedstocks such as scrap brought pressure down on trade levels. - more

      EU distributors see shipments decrease to end-April - European distributors and flat service centres saw their shipments fall during the first four months of the year, according to the latest data published by distributors’ association EUROMETAL. - more

     A visa-free for dirty money: transborder corruption, Russia and the west - The endemic corruption of Russian business, politics and law enforcement is spreading to the west – and becoming a global phenomenon. - more

     Mining exploration spreading across northern Minnesota - Mining companies are expanding their search for copper, gold and other minerals across northern Minnesota, with a Department of Natural Resources auction last week attracting bidders for mining exploration in Beltrami, Lake of the Woods, Koochiching and Itasca counties. - more

     Cassini Resources final assays extend nickel resource - With all Nebo assays received, resource remodelling can begin. Cassini Resources has received assays from its 11 hole infill and extensional drilling program at the Nebo and Babel deposits within the West Musgrave Project located in Western Australia. - 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 news and information free of charge. Contact us

Tuesday, June 13

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $3.99/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and now total just over the 375,800 tonne level. Friday's price spike went sour on Monday and nickel closed below the $4/lb level and only $90/tonne above its lowest traded level for the last 12 months. The $4.00/lb level continues to act as a mental support level and traders fear what might happen if the traded price fell below it with any staying power. Possible commodities fraud as back in the news yesterday, and after the debacle in 2014 in Qingdao, China, traders may have had that in the back of their minds yesterday. Today, prices have crawled back above $4/lb, but lacking any real enthusiasm so far.
  • Average price of cash nickel so far this month - $4.00/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper slips from near two-month top ahead of Fed - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SO) MOC: Average finished steel price in China down 1.2 %
  • Macquarie - "The nickel market, which had moved into deficit between supply and demand last year and in the first half of this year, is likely to move into small surplus during the remainder of 2017."
  • Europe Stocks Gain as Tech Rout Fades; Pound Rises: Markets Wrap - more

     Is it time to recycle more nickel? - Demand for nickel across the whole range of applications has increased by around 5% per year since 2010 and this trend looks set to continue. At the same time a shortfall in production has developed. - more

     Europe Nails China Steel, Says Locals Benefit From Subsidized Loans - The European Union slapped new duties on Chinese steel products over the weekend and China was not too happy about it. - more

     Will Indonesia replace China as top NPI producer? - China’s NPI capacity had been expanding since 2007 as the product has been applied as raw material for stainless steel production. - more

     Forgery Fears at Glencore Unit Spur Nickel Financing Lawsuit - Glencore Plc’s Access World unit was drawn into a London lawsuit over losses from a finance deal that allegedly relied on forged warehouse receipts for nickel, reigniting concerns about fraud in the storage of commodities. - more

     Chrome ore output low - The country’s chrome ore output for the first quarter of 2017 stood at 316 625 tonnes slightly lower than the annual projection of 375 000 tonnes. Of the recorded figure, about 113 571 tonnes was exported as raw ore while 203 054 tonnes was value added and exported as high carbon ferrochrome. - more

  • Zimasco pays out $20m to its creditors - more

     Courtesy AISI - In the week ending on June 10, 2017, domestic raw steel production was 1,718,000 net tons while the capability utilization rate was 73.7 percent. Production was 1,755,000 net tons in the week ending June 10, 2016 while the capability utilization then was 75.1 percent. The current week production represents a 2.1 percent decrease from the same period in the previous year. Production for the week ending June 10, 2017 is down 1.8 percent from the previous week ending June 3, 2017 when production was 1,749,000 net tons and the rate of capability utilization was 75.0 percent. - more

     Tanzania claims 19 years of mining fraud cost $84bn - Fraud in the mining sector since 1998 has cost Tanzania $84 billion, an investigating commission said Monday, blaming foreign companies failing to declare revenues. - more

     Precious metals-rich Philippines encounters powerful opposition to mining - Activists point to rights abuses, ecological disasters and what they believe to be unfair distribution of profits. - more

     Mining a delicate balance of enviro vs. economics - Mining has, for some time now, been considered by many a contentious issue, and a delicate balancing act between a means of providing desirable economic benefits and a process that potentially leads to avoidable long-lasting environmental concerns. - 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 news and information free of charge. Contact us

Monday, June 12

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.07/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the week just under the 375,9- tonne level. Nickel continues to hover just over the $4/lb level, although it bounced on Friday, and fighting to hold on to that positive momentum today. Short term indicators have turned positive, while indicators for any period over a few hours, remain negative. Friday's bounce appears to be a combination of positive economic news from China, a rarity these days, no smoking gun in the Comey hearing, and the stunning election results in England. Hope each of you have a successful week. Success is not measured by how much money you make.
  • Average price of cash nickel so far this month - $3.99/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper slips ahead of China data, Fed decision - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • April Steel Shipments Up 0.7 Percent Year-Over-Year - more
  • (Yieh) According to China's joint steel network statistics showed that China's 27 mainstream stainless steel mills ‘ crude steel production was 1,812,100 tons in May of this year, down by 5.69%.
  • Tech Selloff Spreads; Pound Swings as May Battles: Markets Wrap - more

    Indonesia Cuts Base Export Prices of Nickel Ore, Why? - Indonesia’s Ministry of Trade said recently in Jakarta that the government will cut the base export prices of mineral products in June due to volatile prices in international market. - more

     Material Matters: Stainless, Tin & Batteries - A glance through the latest expert views and predictions about commodities. Stainless steel; tin; battery materials; and oil. - more

     Stainless steel market update May’17- Stainless prices move down on lower surcharges - During the month of April 2017, stainless steel prices dropped in all the three major markets, America, Europe and China. - more

     Ni SUS Scrap Purchase Price in Kanto in June Starts with JPY115,000/125,000 = Because of continuing drop in LME nickel price and anticipation of drop in demand = As of June 5, many of the stainless steel mills in the Kanto area offer the purchase price (delivered at plant) of nickel-containing stainless steel scrap (SABOT) at the range from JPY115,000 to JPY125,000 per ton. (Hereinafter, the price is per ton) - more

     Eramet Finalises Agreement with Tsingshan to Develop the Weda Bay Nickel Deposit in Indonesia - Eramet has announced an agreement finalised with the Chinese Steel Group Tsingshan, a leading stainless steel world producer, to develop the Weda Bay nickel deposit in Indonesia. - more

      EU distributors see shipments decrease to end-April - European distributors and flat service centres saw their shipments fall during the first four months of the year, according to the latest data published by distributors’ association EUROMETAL. - more

     BIR: Emergence of “multi-polar” scrap trading - Improved prices at the start of 2017 had led to a healthy availability of stainless steel scrap - but “these positive conditions were not to last”.  - more

     A clash of new and old for the lost heart of metals trading? - Is a showdown looming in the world of industrial metals trading? It would, at first glance, seem that way. - more

     DMCI Mining to resume nickel ore shipments - DMCI Mining Corp. President Cesar F. Simbulan, Jr. told reporters on June 3 the Consunji-led firm will ship 200,000 metric tons (MT) of nickel ore from its stockpiles in Palawan and Zambales, bulk of which will go to China. - more

     Natixis sues Marex Spectron over metals warehouse receipts - French bank Natixis has sued broker Marex Spectron for $32 million over alleged fraudulent receipts for nickel stored at warehouses in Asia run by a unit of commodities giant Glencore, a court filing showed. - more

     The federal government wants to put a national park right where it will cost First Nations mine-workers their jobs - Why is the federal government planning to create a national park on top of potentially lucrative nickel ore deposits in Northern Manitoba? - more

     Nornickel has completed the Talnakh concentrator modernisation project - Nickel and palladium miner Norilsk Nickel (Nornickel) has completed the Talnakh concentrator modernisation project, in Russia’s Arctic region. - more

     Sam Panopoulos, Canadian inventor of Hawaiian pizza, dies at 83 - (quote) After arriving in Halifax in 1954, he moved to Montreal, then Elliot Lake, Ont., where he worked in the mines.

  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 news and information free of charge. Contact us

Thursday, June 8

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.00/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and now total just under the 378,200 tonne level. Nickel traders continue to look to $4/lb as the line in the sand as bulls fight to stay above that level. Today we are seeing a slight bounce, after closing at $3.996/lb last night. Nickel stockpiles are now recording levels below where they started last month, but remain higher than the level we saw on January 2nd. One of the reason we think nickel miners are so resistant to curtail production in the face of low prices, is the success cobalt is seeing this year. Cobalt is a byproduct of many nickel miners, and to get to one, you get the other. Thanks to rechargeable batteries, cobalt prices have nearly doubled in the first few months of 2017. Many forecasters say cobalt has room to run, and if true, we could see nickel production stay higher than usual. If interested in learning more about cobalt, here is an interesting observation made a few months ago (Cobalt miner news). This is our last update for teh week so we hope each of you has a safe and relaxing weekend and hope to see you back here next week.
  • Average price of cash nickel so far this month - $3.99/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper firms after Chinese trade data beats forecasts - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Investors Avoid Big Moves as Key Events Draw Near: Markets Wrap - more
  • China's exports rise for third straight month - more

     A clash of new and old for the lost heart of metals trading?: Andy Home - Is a showdown looming in the world of industrial metals trading? It would, at first glance, seem that way. - more

     Global nickel miners under pressure to cut costs - Global nickel miners are coming under renewed pressure to cut costs or close capacity as a flood of cheap ore pushes prices to one-year lows, with analysts seeing little prospect of recovery. - more

      India Nickel Scrap prices stay steady; Nickel Futures slightly advance - India's major nickel scrap prices stayed steady on the Scrap Register Price Index as on Tuesday, while nickel futures prices at India's Multi Commodity Exchange gained amid expectations of weak demand as a seasonal construction slowdown in the summer months looms. - more

     Steel Imports Jump in First Four Months - The U.S. imported 3.3 million net tons of steel in April, down 3.1 percent from March, including 2.5 million tons of finished steel, a 1.7 percent decline, based on preliminary Census Bureau data, reports the American Iron and Steel Institute in Washington. - more

  • AISI Releases May SIMA Imports Data; Import Market Share 27 percent in May - more

     Justice Dept. seeks dismissal of Twin Metals lease lawsuit - The Trump Justice Department has filed a motion to dismiss a lawsuit by Twin Metals over last December’s decision by the Bureau of Land Management to deny renewal of two federal mineral leases critical to the company’s plans for a copper-nickel mine near Ely. - more

  • Mining opponents seek dismissal of Twin Metals' lawsuit - 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 news and information free of charge. Contact us

Wednesday, June 7

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.02/lb . Indicators at 6:15 am CST today show 3 month nickel trading unchanged . Stockpiles of nickel stored in licensed warehouses fell on Tuesday and totaled just under the 379,600 tonne level. The market continues to do little, with traders waiting for geopolitical news to determine if the bear market will continue, or the bulls will find some room to roam. Look to $4/lb as support - both psychologically and technically, with $3.83/lb still our 'must hold' support line. At the moment, technical signals remain bearish. Chinese media is reporting ferrochrome prices continue to slide in that country, and with nickel trading at near year lows, and iron ore back down, stainless steel prices are sure to follow. Even the Baltic Dry Index is lower, so shipping charges from overseas are lower. Industry news is on the light side today, so we have posted some links to stories on steel and iron ore stories that are applicable to the stainless steel industry.
  • Average price of cash nickel so far this month - $3.99/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper retreats after early spurt as equities recover - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Current state of the Pacific and Indian oceans - more
  • (PR) AK Steel Announces Price Increase For Carbon Steel Products
  • Saudi Dispute With Qatar Has 22-Year History Rooted in Gas - more
  • Markets cautious ahead of potential turbulence on Thursday - more
  • Flight to Havens Eases; Bank Rescue Spurs Equities: Markets Wrap - more

     Low prices to pile more pressure on beleaguered nickel miners - Global nickel miners are coming under renewed pressure to cut costs or close capacity as a flood of cheap ore pushes prices to one-year lows, with analysts seeing little prospect of recovery. - more

     Nickel Prices Hover Near One-Year Low - Nickel prices have gone through an abrupt change in recent weeks, with the commodity now down bout 10% year-to-date to make it the worse performer of the LME-traded industrial metals. In March, LME nickel futures were on a bull-run, having hit over $11,000 per ton. - more

     Nornickel completes upgrade of Arctic-based concentrator  – Nickel and palladium miner Norilsk Nickel (Nornickel) has completed the Talnakh concentrator modernisation project, in Russia’s Arctic region, the company reported on Wednesday. - more

     Climate Change - Global warming is one of the major challenges facing the world today. The demand for energy and related carbon emissions are rising due to population growth. At the same time, higher living standards are resulting in increased per capita use of energy. - more

     The Hard-to-Believe Steel Shortage That's Unfolding in China - The world’s top steelmaker may have a shortage of steel. China has a lack of rebar, according to iron ore miner Fortescue Metals Group Ltd., which says a shortfall of the key product helps to explain a divergence between the price of the commodity it digs up with the alloy it’s made into. - more

     This analyst thinks he knows what’s been driving the wild price action in iron ore markets recently - Iron ore markets have been on a rollercoaster ride in recent days, tanking, then surging, before subsequently tanking again. - more

  • China's steady iron ore imports contrast with price swings: Russell - 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 news and information free of charge. Contact us

Tuesday, June 6

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.04/lb . Indicators at 6:20 am CST today show 3 month nickel trading nearly unchanged . Stockpiles of nickel stored in LME approved warehouses fell on Monday and started the day just over the 379,900 tonne level. Nickel is again drifting just above the $4/lb trading level, with traders resisting technical indicators that all are sending sell signals. Markets in general are subdued this week, with the Comey testimony before Congress on Thursday sure to get a worldwide audience. Yesterday's arrest of a NSA leaker revealed Russia had not only hacked Democratic e-mails during the US election of 2016, but also hacked a company that made electronic ballot machines shortly before the election. This whole situation is putting the entire election process in question, something no one in Washington, from either party, wants to acknowledge. For now, anyone who questions any election result is a sore loser, but it will be interesting to watch DC tap dance in the months to come - and the mid term election process next year. Our Pacific island allies are expressing regret about President Trump's decision to back out of the Paris climate agreement. These islands have a special interest in the agreement as they are especially susceptible to rising ocean levels, and are of interest to the nickel industry because of their annual contributions to world production.
  • Average price of cash nickel so far this month - $3.99/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper eases for 3rd day on growth concerns - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Havens Rally as Risk Events Stack Up; Oil Swings: Markets Wrap - more

     COLUMN-Nickel facing a long and rocky road to price recovery: Andy Home - Nickel touched a near one-year low of $8,700 per tonne on the London Metal Exchange (LME) last week. - more

     Material Matters: Stainless, Tin & Batteries - While the first quarter of this year was strong for stainless steel production, Macquarie observes orders, subsequently, have fallen sharply across the globe as buyers de-stocked. - more

     New Caledonia's Vale fined over acid spill - New Caledonia's Vale nickel company has been fined just under $US2,000 for an acid spill in 2014. - more

     Jiangsu Delong Nickel to build new stainless steel production facility - The Economic and Information Technology Commission of China’s Jiangsu Province has announced that Jiangsu-based company Jiangsu Delong Nickel Co., Ltd (Jiangsu Delong Nickel) will construct a new stainless steel production facility with an annual output capacity of 1.12 million mt. - more

     Declare offshore wealth? Russia tycoons would rather ship themselves off shore - Some of Russia's super-rich have given up residency to escape a 2014 law requiring them to disclose offshore assets, wealthy businessmen told Reuters, a practice that could keep billions of dollars hidden from Moscow's tax authorities. - more

     Commercial uses of nickel - I got these illustrations from the fb page of PH Nickel Industry Association (PNIA). Useful info. Makes one realize that without this mineral, modern life as we know it is hardly possible. - more

     Courtesy AISI - In the week ending on June 3, 2017, domestic raw steel production was 1,749,000 net tons while the capability utilization rate was 75.0 percent. Production was 1,742,000 net tons in the week ending June 3, 2016 while the capability utilization then was 74.5 percent. The current week production represents a 0.4 percent increase from the same period in the previous year. Production for the week ending June 3, 2017 is down 0.2 percent from the previous week ending May 27, 2017 when production was 1,753,000 net tons and the rate of capability utilization was 75.2 percent. - more

     Vague Russian promises on slashing pollution continue to frustrate Norway - More than two decades of successful environmental cooperation between Norway and Russia, especially on coping with the Cold War nuclear legacy, still hasn’t reduced deadly sulfur dioxide emissions from the Kola Mining and Metallurgy Company wafting over the Norwegian border. - 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 news and information free of charge. Contact us

Monday, June 5

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.04/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on both Thursday and Friday and now total just under the 381,500 tonne level. Nickel is fighting to remain above the $4/lb level, and traded as low as $3.95/lb on Friday. Trading ended Thursday at $4.01/lb and recovered slightly on Friday. Market appears to be in a holding pattern so far today, with traders waiting to see who blinks first. Markus Moll of Steel & Metals Market Research is forecasting nickel will climb back to $4.50/lb by years end, but in the short term, just holding onto the $4/lb level is what has bulls most immediate attention.
  • Average price of cash nickel so far this month - $3.98/lb
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper slips as risk aversion climbs - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Vedanta, Vale Lead Base-Metals Mining Drop as Iron Ore Plunges - more
  • Oil Gains on Gulf Crisis; Metals Hit Europe Stocks: Markets Wrap - more
  • Ever wonder why so many "Buy America" companies purchase their commodities from foreign owned manufacturers or distributors?

     Nickel sinks to 11-month low on dimmer China outlook - Nickel prices have touched an 11-month low, hit by concerns about oversupply in producing countries coupled with economic warning signs in China, the No. 1 importer. - more

     Policy upheavals buffet mining in Philippines, Indonesia - In the eyes of Diosdado Alota, chief of Guinabon village in the northwest Philippines, the mining industry is key to his community's health. - more

      Nickel prices seen recovering to $10,000/t by year-end - Nickel prices should recover to around $10,000/tonne by the end of 2017, while crude stainless steel production will grow 4.8% on-year this year to 49.2 million tonnes, according to Markus Moll of Austria-based Steel & Metals Market Research. - more

     Prices of HR Austenitic Stainless Coils Fall to $1,600 CFR Level in Asia - According to a source, prices of austenitic stainless steel flat products are largely falling in the East Asian region. - more

     Members lament impact of imported products on local industry - In April, the Southern Africa Stainless Steel Development Association (Sassda) conducted a Short Track Survey that gave an account of the state of the stainless steel industry, compared with this time last year, which had Sassda members lamenting the negative impact of imported stainless steel products. - more

     CEO of Finnish miner Talvivaara gets suspended sentence for misleading investors - The founder and chief executive of troubled Finnish miner Talvivaara was handed a suspended eight month sentence on Friday after a court ruled the company gave investors unrealistic forecasts for nickel production. - more

  • Suspended prison terms, fines for Talvivaara mine bosses - more

     Stainless steel association wants utensils, cutlery under same GST tax slab - Stainless steel traders in the capital sought the placement of utensils and cutlery under the same bracket within GST taxation framework. - more

     Mining reps weary of all talk, no action in Ring of Fire - Some key players in the Ontario mining industry said they’re getting sick and tired hearing about the Ring of Fire. - more

  • Chinese railroaders like the route to the Ring of Fire - more

     PM’s remarks about Clive Palmer could have implied fraud, judge finds - A Queensland judge has found comments made by the prime minister, Malcolm Turnbull, about Clive Palmer and the demise of Queensland Nickel “could well be viewed” as a suggestion the mining magnate had acted fraudulently. - more

     Clive Palmer sells Queensland Nickel Headquarters - Embattled businessman Clive Palmer has sold the head office of his Queensland Nickel company as part of a $53.7 million sale of three adjoining properties in Brisbane's "Golden Triangle". - more

     Flying Yankee train won’t be returning to Concord after plans derailed - The Flying Yankee won’t be flying to Concord after all – at least, not any time soon. - more

     Call to Halt Deep Sea Mining - At the upcoming United Nations’ The Ocean Conference, which will take place in New York from June 5 to 9, Seas At Risk is calling for a halt to deep sea mining. - more

     65 Things You Might Not Know About Steel - While many of us associate the introduction of steel into economics with the start of the First Industrial Revolution, steel has actually been around for a VERY long time. - more

     Former Townsville man killed in US - San Francisco detectives have made an arrest in the killing of a former Townsville man as his family began the heartbreaking and long trek to bring his body home. - more

  • One Arrested in Connection With Australian Tourist's Homicide at San Francisco Hotel - 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 news and information free of charge. Contact us

Thursday, June 1

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.07/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and start the day just under the 385,000 tonne level. The nickel bears continue to control trading, with nickel closing below the $9000/tonne level yesterday, and looking like it may do it for a second consecutive day today. That will send a technical signal to the market that this bear run is likely not over, although to be fair, technical signals have not proven very reliable lately. Nickel closed at $3.83/lb on May 1st 2016, but it had traded at a low of $3.78/lb that day. That will be a 'super 'support line, because that has been the lowest nickel had traded since 2003. Nickel will be offering some great opportunities for investors - if the buy is timed right. Stainless steel prices are already lower for June. Have a safe and relaxing weekend and we hope to see you back next week.
  • Average price of cash nickel so far this month - ($4.15/lb average for May)
  • Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel prices fall again amid supply glut worries - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here

  Commodity/Economic Comments

  • 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
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SR) Baltic Dry Index drops to below 900 points
  • (Tweet) Goldman predicts a supply surplus of nickel of 37,000 tons in 2017 and 100,000 tons in 2018.
  • Stocks in Upbeat Mood as Oil Rises, Havens Slip: Markets Wrap - more

     Rising supplies, weak demand push nickel to 11-month low - Nickel prices tumbled to 11-month lows on Wednesday on investor concern over rising supply from top producers Indonesia and the Philippines as well as weak demand from stainless steel mills in China. - more

     Notable Prediction - (Goldman Sachs 5/31) - "Prices will remain trading at very low levels through 2017 and much of 2018, until a substantial supply response both in China and outside of China eradicates our forecast surplus of 37,000 tonnes in 2017 and about 100,000 in 2018."

     Press Release - For the month of June 2017, North American Stainless will maintain the fuel surcharge of 20% for stainless flat and long products.

     China iron ore falls 6 pct to 6-mth low, steel sags despite upbeat PMI - Iron ore futures in China tumbled 6 percent on Wednesday to the lowest since November, posting their biggest monthly decline in a year, amid lower steel prices and a glut of the raw material. - more

     Workers’ agitation disrupts production at Ganjam plant - The agitation by retrenched unskilled contractual workers has disrupted production at the ferrochrome plant of Tata Steel near Gopalpur port in Ganjam district for the past ten days. - 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 news and information free of charge. Contact us

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