This
page is archived news covering the period of March 2013
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Thursday, March 28
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
$7.64/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with all London
traded base metals trading lower as well. Stockpiles of nickel stored in
LME approved warehouses rose on Wednesday and now total just over the 165,400
tonne level. Nickel held up fairly well yesterday, gaining in price while
the Euro fell to a four moth low. Nickel opened slightly lower this morning
and hasn't done much since, trading quiet before a four day weekend in London.
Cyprus banks have re-opened today, with rules in place to pretty much guarantee
any bank run will have its hands tied from the start. Based on news reports
from the region, the tactic has worked. The long term implications to the
events that took place in Cyprus over the past week are yet to be witnessed,
but many fear the psychological damage to the EU may be as bad as the economic
depression now forecast for the small island state. Today's trading is the
last for the week, the month, and the quarter as London markets are closed
tomorrow for Good Friday. Unless something noteworthy happens that deserves
an update, this will be our last report for the week and month as well.
Average price of cash nickel so far this month - $7.60/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(SBB) Korean steelmaker Posco Specialty Steel (Posco SS) has decided to cut
the domestic prices of its austenitic stainless wire rod and bar products
for April
(SBB) Privately owned Tsingshan Holding Group, which owns stainless steel
plants in China, has shown interest in acquiring the Italian stainless plant
Terni
(IRR) Indonesia’s state-controlled gold and nickel miner Aneka Tambang
is set to begin mining for gold in Burma this year, as soon as it secures
a permit, the Jakarta Globe reports.
(SSY) The world export price of hot rolled band declined further, down by
$13/t over the last two weeks to $591/t at the end of March, according to
the latest SteelBenchmarker published by World Steel Dynamics. This marked
the lowest level over the past two months.
(SG) China exported 168,418 tonne of stainless steel products in February
this year, down 16.575% from the January volume, affected by the Chinese
New Year holiday, as announced by the Chinese customs authorities
Sumitomo Metal Mining Says Weaker Yen Is a ‘Major’ Net Positive
-
more
Creator of Vancouver’s steel crab sculpture remembered -
more
Fundamentals
Have A Greater influence on Nickel Prices - MEPS International Ltd has
often observed that commodity prices tend to follow the trends in global
financial markets, instead of being driven by fundamentals. More specifically,
the price of nickel-bearing stainless steel has been disproportionately affected
by institutional investors on the commodity markets, rather than by the supply
and demand outlook for the physical metals. -
more
Stainless
steel tribute - A plaque commemorating the centenary of the discovery of
stainless steel by Harry Brearley has been unveiled – in a Tesco Superstore.
-
more
Chinese steel
traders seek rebates from mills amid tepid demand - Burdened with massive
stockpiles of steel and slowing demand growth, some loss-making Chinese traders
have asked mills for rebates on metal that has fallen in value since they
bought it. -
more
London Metal
Exchange to bolster benchmarks with tougher rules - The London Metal Exchange,
spurred by new regulatory pressure across financial markets, plans to tighten
rules for its trading floor where global benchmark prices for materials like
copper are reached, industry sources said. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, March 27
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
$7.61/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals also trading lower. Stockpiles of nickel gained
their second largest one day amount this year, and now total just over the
164,650 tonne level. The Euro is down 2/3 of 1% this morning and base metals
traders are having a hard time fighting this negative force. Nickel is currently
trading off earlier lows, but having a tough fight back to the even barrier.
Italy is taking some of the attention off Cyprus today, where a leading
politician has ruled out forming a coalition government. The London Metal
Exchange will be closed Monday for Good Friday and Monday for Easter Monday,
and we expect the remaining trading day this month to be tempered. Cyprus
banks re-open tomorrow, and markets will be watching depositors reactions
closely. US reports yesterday were positive and initially gave base metals
a jump, but the Euro dragged them back before yesterday's trading session
ended.
Average price of cash nickel so far this month - $7.59/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(FMA) Metal fabrication company Outokumpu Stainless Bar, which serves the
transportation, aerospace, and oil and gas industries, has announced plans
to build an $18 million facility in Richburg, S.C. The 60,000-sq.-ft. plant
is expected to be up and running by late 2013, creating 20 jobs.
(SO) Japan's nickel ore imports up 15.2 percent in January
China's 10
nonferrous metal output up 13.5% in Jan-Feb - The combined output of the
ten nonferrous metals was 6.22 million metric tons in the first two months
of this year, up 13.5% YoY, according to the latest statistics released by
the National Development and Reform Commission. -
more
New
Caledonia set to become high per capita emitter - Environmental groups say
New Caledonia will become one of the world's biggest carbon emitters per
capita due to expansion of the French Pacific territory's nickel production.
-
more
New Caledonia one of the highest per-capital carbon emitters - Which countries
are the world's highest carbon emitters per capita?You might think it's the
United States, China, or perhaps Australia. -
more
Cuba hopes
to keep nickel output above 60 000 t - The Cuban nickel industry plans to
produce around 62 000 t of unrefined nickel plus cobalt in 2013, according
to local and foreign company reports, following the closing of one of three
processing plants last year. -
more
Courtesy AISI
- In the week ending March 23, 2013, domestic raw steel production was 1,809,000
net tons while the capability utilization rate was 75.5 percent. Production
was 1,982,000 tons in the week ending March 23, 2012, while the capability
utilization then was 79.6 percent. The current week production represents
a 8.7percent decrease from the same period in the previous year. Production
for the week ending March 23, 2013 is up 1.3 percent from the previous week
ending March 16, 2013 when production was 1,785,000 tons and the rate of
capability utilization was 74.5 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, March 26
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
$7.70/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed and mostly quiet. Stockpiles of nickel
stored in LME approved warehouses rose on Monday and now total just shy of
the 162,500 tonne level. Nickel traders appear to be meeting strong resistance
at the 100 day moving average for the last few sessions, and the 30 day MVA
yesterday. Today, nickel appears to be in neutral, looking for a direction,
and little external factors offering support either way. European equity
markets are trading slightly higher today, and US futures are positive as
well, both in recovery after the slip of the tongue by an EU official yesterday
sent world markets in a tail spin. Nickel may get a boost later when a US
Durable Good Orders Report is released. Merafe reports second quarter ferrochrome
prices have been settled at $1.27/lb, up from $1.125/lb this quarter. Power
problems in South Africa are making news again.
Average price of cash nickel so far this month - $7.59/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(MF) Japan’s HR stainless steel products output rises by 4.1% m-o-m
in January
(MF) Korea’s HR stainless steel product imports fall by 14% m-o-m in
February
Commodity bets: Trading tips for crude, nickel & aluminium
- more
(SA) According to SpetsStal, the volume of stainless steel imports to Russia
in January 2013, compared with December 2012, decreased 30.5% to 16,069 tons.
(SSY) According to data released by the Chinese Iron and Steel Association,
inventories of China's main steel products in the major steel markets were
down 2% week on week to 22.1 Mt, representing the first decrease for 14 weeks.
However, inventories are 3.9 Mt higher compared to the same week of 2012.
Merafe
Resources - Shareholders of the Company are advised that the European
benchmark ferrochrome price has been settled at 127USc per pound for the
second quarter of 2013, an increase of 13% from the 112.5USc per pound price
in the first quarter of 2013.
China Projects
Modest Steel-Production Growth - China's crude-steel production has reached
a "plateau," with growth likely to be moderate compared with the breakneck
pace of much of the past decade, the country's top economic-planning agency
said. -
more
Norilsk
Nickel Stock Plunges on Rumors of Abramovich Arrest - Shares in Russian metals
giant Norilsk Nickel and steel maker Evraz plunged to a four-month low in
Monday afternoon trading in Moscow and London on rumors that tycoon Roman
Abramovich had been detained in the United States by the Federal Bureau of
Investigation (FBI). -
more
Negotiations
on HR Coils for Remote Regions = Customers show a wait-and-see attitude for
May shipment - Negotiations on hot-rolled (HR) steel coils for the remote
regions like Middle East, Central and South America and so on have been suspended
for May shipment because customers have strengthened their wait-and-see stance.
It is because they are predicting price drop of HR coils due to the Chinese
market price down of steel products for 3 weeks in a row, the downward revision
of the Chinese mills' offer prices and so on. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, March 25
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
$7.78/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed and mostly quietly. Stockpiles of
nickel stored in LME approved warehouses fell on Friday and now total just
over the 162,000 tonne level. After a long weekend of negotiations, and coming
down to the wire, Cyprus and the EU came to an agreement to avoid a default
today by its banks. European equity markets are trading higher, with US Dow
futures also pointing higher. Base metals, however, are not getting much
of a boost, with the Euro floundering. The trend for nickel remains bullish,
however slightly.
Average price of cash nickel so far this month - $7.58/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(SO) The Australian Bureau of Resources and Energy Economics (BREE) has revised
its estimations for Australian nickel production in 2012-13. According to
the latest estimates, world refined nickel production increased to around
1.7 million mt in 2012, nine percent higher than 2011 as a result of higher
production in Brazil, Colombia, China and Australia. BREE noted that the
ongoing shutdown of the Vale Onça Puma refinery in Brazil due to smelter
problems, and curtailments in Australian production, are forecast to offset
these production increases...... According to BREE, international nickel
spot prices are forecast to average around US$17,586/mt for the whole of
2013, indicating an approximate 2.3 percent year-on-year decrease.
Resource depletion masks Australian mining productivity growth -
more
(MF) Baosteel Stainless cuts austenitic stainless domestic prices for April
Here’s why copper has lost its indicator role -
more
University of Oregon splits water with sunlight -
more
Little Evidence That The Economy Is Improving -
more
China iron
ore demand to rise 50 mln T in 2013 -planning body - China's iron ore demand
is expected to rise by 50 million tonnes in 2013, but it will not be enough
to soak up a supply glut on the world market, the country's top economic
planning agency said on Monday. -
more
Tests for
nickel in Quebec City air anxiously awaited - A report on the presence of
nickel in the air around Quebec City’s Limoilou neighbourhood is being
eagerly awaited by the city’s port authority and members of the government.
-
more
Mines
keep close watch as Eskom output is squeezed - Mining companies are monitoring
the performance of Eskom as power supply is at risk, partly as a result of
unrest in the coal sector, during which police fired rubber bullets at striking
workers at Shanduka Coal’s Graspan colliery in Mpumalanga on Tuesday.
-
more
Eskom calls on households to cut usage by 10% as reserve shrinks - ESKOM
on Thursday urged all household users of electricity to cut their usage by
10%, as a major coal supplier remained at a standstill and threatened to
fire thousands of workers. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, March 22
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
$7.66/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.06/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME licenses warehouses rose on Thursday and now totals just over the 162,750
tonne level. The stock level has risen by 1,218 tonnes over the last five
days and is 3,714 tonnes shy of its all time recorded high. The Euro is stronger
this morning as traders bet Cyprus will find an answer to their Monday deadline.
Rumors are flying but a tax on bank deposits is reportedly back on the table.
Nickel is still climbing as US market futures look positive. Cyprus remains
the focus today but traders appear to be betting that the European government
will once again not chance allowing one country's problem to potentially
bring down the entire system and will perform a last minute rescue of some
sort. The US decision to allow Lehman Brothers to go under taught all world
governments the risk of not rescuing large banks. Could be an interesting
weekend if Cyprus finds no resolution today. Market news was light today.
Have a restful and safe weekend!
Average price of cash nickel so far this month - $7.58/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
There
will be more nickel needed - There's good news and bad news emerging from
China when it comes to nickel production, says a mining analyst with a keen
interest in Sudbury. . -
more
Norilsk
To Adopt New Strategy Sep, Will Limit Global Expansion -CEO - Russia's Polar
mining giant OAO Norilsk Nickel (GMKN.RS) may get its revised long-term strategy
approved by the company's board by September, its chief executive and one
of its major shareholders said Thursday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, March 21
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
$7.63/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
with all London traded
base meals trading higher as well. Stockpiles of nickel stored in LME warehouses
fell slightly on Wednesday and now total just shy of the 162,300 tonne level.
Cancelled warrants are slipping after nearly hitting the 20% mark last Thursday.
They still remain well above the 15% level. Our Chinese stainless steel index
is reflecting a near collapse in stainless steel prices over the last few
days. A few days ago, with nickel rising, it appeared the bottom had been
reached. Since then prices have fallen sharply and are now lower than we
have registered since we started tracking it a few years ago. The numbers
are becoming very concerning and we are starting to wonder if there is something
going on in China that is not well known in markets yet. Traders have already
seen a bunch of world trade reports issued today, with more due from the
US when it opens for business. Unofficial China manufacturing PMI numbers
rose, while Germany's unexpectedly fell. With the Cyprus situation yet to
be resolved, European markets are in flux this morning and mostly lower on
the PMI data, while US futures are quiet. Metals is still trading on
technicals with the hope and prayer by traders that the Chinese numbers prove
true.
Average price of cash nickel so far this month - $7.57/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
China's steel industry achieved profits in Jan -
more
(WSJ) Russian mining company Norilsk Nickel said its chief financial officer
Dmitry Kostoyev is resigning to pursue other projects after four years in
the role.
(DJ) The nickel market, not including China, was in a surplus of 7,800 tons
in January this year, the World Bureau of Metal Statistics said Wednesday.
This compares with a global surplus of 137,000 tons during January to December
2012.
(FAN) It's reported that Baosteel Stainless 1 of the major stainless steel
producers in China released its list prices for April. The company decided
to cut its list prices for 304
(ML) The World Steel Association reported that Feb daily steel production
was up 5.2% m/m led by a 7.6% m/m increase in China and an 8.5% m/m increase
in the EU. Feb global steel production was up 4.8% y/y also driven by strong
growth in China where production rose 13.7%. World ex-China production was
down 2.9% y/y as production fell 8.6% in the U.S. and fell 2.2% in the EU.
Global
nickel oversupply set to increase in 2013 - INSG - Growth in global production
of primary nickel this year is set to outpace consumption growth, increasing
the surplus in the global market, the Lisbon-based International Nickel Study
Group (INSG) forecast on Thursday. -
more
Asia stainless
steel flats market - Jaway steel corporation China’s larger stainless
steel producer announced to hike stainless steel 304 coil quotations to 20,500
per tonne with delivery at the end of January. -
more
Production
of Stainless Steel Products in January, 2013 Is 226,709 Tons =Up by 4% from
the prior month, Cr type and Ni-Cr type are increased= The Ministry of Economy,
Trade and Industry announced on March 14 that the production volume of stainless
steel products (hot-rolled steel) in January, 2013 was 226,700 tons, which
was up by 4.1% from the prior month. -
more
Vale cuts
30 non-union jobs in Sudbury - Vale is cutting 30 support and service jobs
at its Sudbury operations, the company announced March 20. -
more
MSCI:
Shipments Down Through First Two Months of 2013 - The sluggish start to the
new year continued as service centers in both the United States and Canada
experienced substantial shipping declines in February, according to the latest
Metals Activity Report from the Metals Service Center Institute, Rolling
Meadows, Ill. -
more
The
Electrical Distributor Magazine March 2013 article 'Nickel's Bright Future'
- type in page 26 when magazine loads for article -
here
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, March 20
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
$7.50/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.11/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME approved warehouses fell on Tuesday and now total just over the 162,300
tonne level. LME traders are apparently taking their cue from an oversold
market and a slightly higher Euro this morning for directional stimulation.
Chinese stainless steel prices are dropping sharply after higher nickel prices
caused them to rise during the last week. US market futures are higher on
bets that the Fed will announce they will leave low interest rates alone
today at the end of their two day meeting. European markets are mostly higher
as traders are confident Cyprus will figure out a way to meet its debt
obligations and will not default. Rumors this morning are that Russia will
lend them $5 billion dollars for a percentage of natural gas sales and a
military base on the island. Nickel is still trading on technicals and the
strength of the Euro, with little fundamental news.
Average price of cash nickel so far this month - $7.57/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(LGMI) According to China Iron and Steel Association, the daily crude steel
production of its members in early March was 1.6755 million tonnes, down
3.28 percent from that in late February.
(SSY) Japan produced 8.3 Mt of crude steel in February, down by 6% month-on-month
and 3% year-on-year, according to the latest update from the country's Iron
and Steel Federation.
(ATA) The American Trucking Associations’ advanced seasonally adjusted
(SA) For-Hire Truck Tonnage Index rose 0.6% in February after increasing
1% in January. (The 1% gain in January was revised down from a 2.4% increase
ATA reported on February 19, 2013.) Tonnage has now increased for four straight
months, which hasn’t happened since late 2011. Over the last four months,
tonnage gained a total of 7.7%.
Chinese Steel
Production Seen Poised to Drop as Prices Slump - Steel production in China
is poised to decline after prices slumped for a fourth week, according to
Commodore Research & Consultancy. -
more
Study
on Xstrata Nickel mine ready early April, UN rep says - UN Development Program
(UNDP) representative Valerie Julliand on Monday said its technicians already
completed the field work on the feasibility study submitted by Xstrata Nickel
Falcondo to exploit Loma Miranda (central). -
more
Talvivaara
to Meet Nickel Target This Year, CEO Says - Talvivaara Mining Co., the Finnish
nickel miner selling shares to repay debt, said it will meet a 2013 output
goal in the second half after resolving operational issues at its main mine.
-
more
Nickel Institute
: EU Raw Materials Policy should embrace resource efficiency and competitiveness
challenges - At the 3rd Annual Raw Materials Conference, hosted today in
Brussels by the Nickel Institute, policymakers debated the issues and challenges
surrounding EU raw materials policies. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, March 19
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
$7.53/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and mostly quietly. Stockpiles of
nickel stored in LME approved warehouses rose on Monday and now totals just
over the 162,650 tonne level. The Euro continues to trade lower this morning
on Cyprus concerns, although the volatility appears to have calmed down since
yesterday's shock. A few days ago it appeared nickel was looking to test
resistance, but it failed to penetrate the 100 moving day average for two
consecutive days, and now its falling toward support levels around $7.45/lb.
Markets are best described as weary today, as Cyprus has made changes to
the agreement to protect those with smaller deposits in their banks from
taxation. US futures are slightly higher - apparently annoyed at these diversions
from its strong bull run.
Average price of cash nickel so far this month - $7.58/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(SSY) The price of Chinese wire rod fell by $13/t week-on-week to $556/t,
some $108/t below the level seen at the same time last year, representing
the lowest level since end November, according to World Steel Dynamics.
Meanwhile, daily crude steel production at member companies of the China
Iron & Steel Association rose to a new record of 2.08 Mt in the first
10 days of March. This exceeded the previous peak daily rate of 2.05 Mt in
early May 2012.
(FAN) Taigang Stainless Steel announced to cut its export prices for 304
grade stainless coils by USD 100 per tonne and 430 CR/HR coil by USD 20 per
tonne for April shipments.
(DJ) Commerzbank AG will commence trading and clearing as a Category 2 member
of the London Metal Exchange on March 25, the LME said Monday.
ThyssenKrupp preparing capital increase - report -
more
US Fastener Imports & Exports both Jump in January -
more
China steel
demand likely to rebound - Bloomberg reported that growth in demand for steel
in China the world's biggest consumer is set to rebound from a 4 year low
supporting earnings for mills and the iron ore producers that supply them.
-
more
Goldman Reduces
Iron Ore Forecast as Global Demand Growth Slows - Goldman Sachs Group Inc.
cut its estimate for iron ore prices this year on expectations demand will
moderate and steel production will slow in China, the world’s largest
buyer. -
more
Big miners:slower China steel growth to weigh on iron ore - Australia's big
iron ore miners have cautioned that China can no longer be counted on for
unchecked opportunity, warning of volatile markets and softer prices as growth
in China's steel production slows. -
more
Courtesy AISI
- In the week ending March 16, 2013, domestic raw steel production was 1,785,000
net tons while the capability utilization rate was 74.5 percent. Production
was 1,982,000 tons in the week ending March 16, 2012, while the capability
utilization then was 79.6 percent. The current week production represents
a 9.9 percent decrease from the same period in the previous year. Production
for the week ending March 16, 2013 is down 2.4 percent from the previous
week ending March 9, 2013 when production was 1,828,000 tons and the rate
of capability utilization was 76.3 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, March 18
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
$7.67/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.11/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose on Friday and now totals just over the 162,300
tonne level. World markets have been shaken today as it was reported that
Cyprus and EU bailout negotiators agreed to tax savings accounts. This has
sent the Euro lower, which is adding negative pressure on base metals trading.
The possibility that taxing savings accounts up to 10% was even being discussed,
is troubling. The fact a democratic country in Europe actually agreed to
such an act and the possibility of it setting precedence in Europe or potentially
globally, is shocking traders around the world. Just about everything is
lower this morning, except for the Dollar and gold. Cyprus has closed their
banks today in expectation of a bank run. Nickel has failed to breech resistance
for two straight sessions, and is technically set to slip again.
Average price of cash nickel so far this month - $7.58/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
Nickel
Financing Deals Seen by Macquarie ‘Hoovering Up’ Stocks - Financing
accords are helping absorb some of nickel’s glut and supporting prices,
according to Macquarie Group Ltd. (MQG). -
more
ThyssenKrupp
trust's 99-year-old chief to stay on -report - The 99-year old head of a
trust that holds a key stake in steelmaker ThyssenKrupp has no intention
of stepping down, he told a German newspaper, even after a shake-up that
saw the company's chairman resign. -
more
Nickel
mine targets higher output - A unit of Oriental Resources Peninsula Inc.
(ORE) is eyeing to increase nickel-ore production in its nickel mine in the
nearby town of Narra from 10,000 metric tons to 14,000 MT per day within
the year. -
more
China Molybdenum
to cut 2013 moly concs output by 10% to 29,240 mt - China Molybdenum plans
to produce 29,240 mt of moly concentrate in 2013, down 10% from 2012's output
of 32,456 mt, the Henan province-based producer said late Thursday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, March 15
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
$7.81/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.03/lb
higher, with all London
traded base metals trading higher a well. Stockpiles of nickel stored in
LME approved warehouses fell back on Thursday and now total just shy of the
161,550 tonne level. The Euro is trading higher against the US Dollar this
morning, adding some strength to base metals trading. NIckel is trading for
a second day above its 20 day moving average, and showed some initial resistance
at punching thru the 100 day average. Now nickel traders are threatening
to close above the $7.83/lb line of resistance. Three month nickel has traded
as low as $6.91/lb (Aug 2, 2012) and as high as $8.89/lb (March 14, 2012)
over the last 52 weeks. It has closed within a $7.50/lb to $7.88/lb range
for the last three weeks. For the week, nickel is trading 3-1/2% higher,
and is 1% higher YTD. One year ago today, nickel closed at $8.79/lb.
Fundamentally, nickel is still bearish, with little support for an increase
in demand or the price. Technically, nickel has shown some life this week,
much to the relief of those who trade in the metal, who make little money
without some degree of volatility keeping the trading price on the move.
Equity markets, as well as nickel, have once again proven the old adage this
week - "it doesn't pay to argue with the market." Enjoy your weekend!
Average price of cash nickel so far this month - $7.57/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
China's Steel Market/Prices of HR Coils Dropped for 2 Consecutive Weeks -
more
(Reuters) US - Foreclosure starts were seen on 71,488 homes in February,
up 10 percent from the month before, though that was still down nearly 25
percent from a year ago. -
more
'Rising
star' unfazed by falling nickel price talk - Rox Resources' managing director
has dismissed speculation about the falling nickel price, saying it is a
secondary consideration for the company.
UNDP won’t bow to pressure from protests against Xstrata Nickel - United
Nations Development Program (UNDP) local representative Valerie Julliand
on Wednesday defended the impartiality of the six technicians hired on the
Dominican Government’s request to assess the environmental impact study
submitted by the company Xstrata Nickel Falcondo to min nickel at Loma Miranda
(central). -
more
Stainless
steel production good fit for north: MPP - The MPP for Timmins-James Bay
continues to push for stainless steel production from future development
in the Ring of Fire mineral region. -
more
Norton
sizes up Norilsk's assets - Chinese-owned Norton Gold Fields is the latest
company to be linked to the acquisition of Norilsk Nickel's Australian assets
as the Russian miner nears a deadline for the sale or closure of its Lake
Johnston nickel mine. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, March 14
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
$7.68/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with most other
London traded base metals trading lower. Stockpiles of nickel stored in LME
approved warehouses rose on Wednesday and now total just shy of the 161,650
tonne level. The Euro is down but nickel is attempting a technical break
out, forcing shorts to cover. This upward trend has little fundamental support
so it will be interesting to see how high traders can drive the price, before
it loses steam. The rest of the base metal complex shows very little movement,
mostly slightly lower. European equity markets are mostly higher, and US
futures are higher as well.
Average price of cash nickel so far this month - $7.55/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(STI) Shanxi Taigang Stainless Steel Corp produced 3.11Mt of stainless steel
in 2012 and was ranked the world top producer for the fourth year running.
(SSY) After rising for five consecutive months, the world export price of
hot rolled band retreated from two weeks ago, down by $4/t to $604/t, according
to the latest SteelBenchmarker published by World Steel Dynamics.
(CEN) China's electricity consumption shrank 12.5 percent year on year in
February, the National Energy Administration said on Thursday.
(Reuters) Hong Kong's index of industrial production fell by 0.8 percent
in 2012 compared with the same period last year, the Census and Statistics
Department said on Thursday.
Technical Analysis – Nickel – Can it sustain break higher? -
more
Chinese Ferroalloy
Producers Concerned About Congress Speeches = Out of concern that the Congress
may enact new regulations/taxes for environmental control = The ferroalloy
producers in China are concerned about whether the National People's Congress
now in session will enact new regulations and/or taxes for stricter environmental
control because such measures will definitely affect the ferroalloy industries.
-
more
Russia's
Export and Import of Ferroalloy in January, 2013 - According to Russia's
trade statistics, the export and import of ferroalloy in January, 2013 is
shown in the table as under. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, March 13
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
$7.72/lb. Indicators at 7:00
am CST today show 3 month nickel trading around $.02/lb
higher, with most London
traded base metals trading slightly higher as well. Nickel is currently trading
off earlier highs, and shadowing the Euro again. Stockpiles of nickel stored
in LME approved warehouses fell on Tuesday and now totals just shy of the
161,050 tonne level. Nickel, while still trading rangebound, appears to be
attempting a test of the $7.83/lb line of resistance. European markets are
trading lower this morning after industrial production in the EU reportedly
fell harder in January than analysts expected. This also affects base metal
demand and nickel is feeling the pressure today.
Average price of cash nickel so far this month - $7.53/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(LGMI) Chinese National Bureau of Statistics said that crude steel output
climbed to 61.83 million tonnes last month in February 2013 after record
production of 63.62 million tonnes in January
Former CEO and Chair of Falconbridge, Alex Balogh, Joins North American Nickel's
Advisory Board -
more
Iron ore stocks fall at China's major ports -
more
Cyclone Sandra weakens, veering away from New Caledonia -
more
Nippon Steel
Sumitomo to lower costs, sees steady steel output - Nippon Steel & Sumitomo
Metal Corp, the world's No.2 steelmaker by output, said on Wednesday it aims
to cut costs from integrating operations but expects to maintain its crude
steel output at current levels over the next three years. -
more
Australia
is reliable supplier of resources for China's growth: minister - Australia
has now firmly established itself as a reliable supplier of the resources
that sustain China's growth, Minister for Resources and Energy Martin Ferguson
said in a speech on Tuesday, the Australia China Business Council's (ACBC)
Canberra Networking Day. -
more
Courtesy AISI
- In the week ending March 9, 2013, domestic raw steel production was 1,828,000
net tons while the capability utilization rate was 76.3 percent. Production
was 1,982,000 tons in the week ending March 9, 2012, while the capability
utilization then was 79.6 percent. The current week production represents
a 7.8 percent decrease from the same period in the previous year. Production
for the week ending March 9, 2013 is down 1.6 percent from the previous week
ending March 2, 2013 when production was 1,857,000 tons and the rate of
capability utilization was 77.5 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, March 12
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
$7.66/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading quietly higher as well. Stockpiles of nickel
stored in LME approved warehouses fell no Monday and now total just over
teh 161,300 tonne level. The Euro is lower this morning but base metals ,
including nickel, are trading in the black at the moment. Nickel opened lower
this morning but has been on the climb since. There is no particular news
that is driving this movement, and traders appear to be attempting a technical
breakout. Nickel is up 2-1/2% in a week and is the strongest amongst the
LME traded base metals. From a technical standpoint, nickel is finally sending
some bullish signals, even though it remains in a sideways pattern, and could
easily turn negative again. Initial reports from New Caledonia show the Tropical
Storm skimmed the island and nickel operations have resumed production.
Average price of cash nickel so far this month - $7.50/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(FAN) According to data released by the US Department of Commerce the US's
import license for stainless steel products decreased by 7.68% from a month
ago to 97,740 tonne in February.
(Interfax) Official data show China’s daily steel output hit a record
high in February, darkening the price outlook for the metal amid weak downstream
demand and swollen inventories. Daily crude steel output averaged an all-time
high of 2.21 million tons during the month, while monthly output grew 7.6
percent from January to 61.83 million tons, up 9.8 percent on the year, according
to statistics released by the National Bureau of Statistics (NBS) on Tuesday.
Small Business Confidence Improves a Bit But Is No Sign of a Surge in Confidence
-
more
Neutral ENSO state persists in tropical Pacific -
more
Miners
operate machinery underground Photo: Mining for nickel is proving costly
as price declines due to over supply. - Analysts say nickel miners are in
for a tough year with prices falling to levels that have not been since the
global financial crisis. -
more
Canada's
TVI Pacific to build nickel plant in Agusan del Norte - TVI Resources Development
Philippines Inc., the local unit of Canadian miner TVI Pacific, on Tuesday
said it has signed joint venture deals with two companies for developing
resources of Agata Mining in Agusan del Norte and Pan de Azucar Pyrite in
Panay Island. -
more
Why Mark
Creasy is pegged to become Australia’s newest billionaire - Yesterday,
exploration company Sirius Resources issued an ASX release that capped off
an astonishing two weeks for the company. -
more
Royal Nickel
Enters Strategic Alliance with Leading Chinese Stainless Steel Producer -
Royal Nickel Corporation is pleased to announce it has signed a memorandum
of understanding with Tsingshan Holding Group Co., Ltd. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, March 11
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
$7.59/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
lower but off earlier
lows, with all London traded base metals trading lower. Stockpiles of nickel
stored in LME approved warehouses rose on Friday and now total just over
the 161,450 tonne level. Base metals are trading lower after weekend reports
from China signaled a slowdown in industrial output in that country during
the first two months of the year. The Euro is recovering from earlier lows
also, and nickel appears to be shadowing its movements again. Tropical Storm
Sandra appears to be heading in the general direction of New Caledonia but
is expected to only brush the island
(forecast graph). European equity markets appear to be
in limbo this morning and awaiting US markets to open. US futures are slightly
lower at the moment, but the trend is positive and we so no reason for that
to change yet.
Average price of cash nickel so far this month - $7.49/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(Interfax) Baosteel has defied of market expectations and raised April prices
for major flats, marking the fifth straight monthly price hike from the leading
Chinese steelmaker. Despite weaker sentiment in the steel market after Chinese
New Year, the Shanghai Stock Exchange listed firm on March 8 raised prices
for both hot-rolled and cold-rolled coil for April delivery by RMB 150 per
ton.
(Dow Jones) Russia exported 5,500 tons of nickel in January, compared with
34,900 tons in the first month of 2012.
(CK) china, the world's largest steel maker, imported 56.42 million metric
tons of iron ore and concentrate in February this year, reflecting a decline
of 13.9% from January, according to the latest statistics released by the
General Administration of Customs. The iron ore imports last month represented
a decrease of 13.2% from a year earlier.
Talvivaara shareholders to stump up cash to save mine -
more
European shares dip on China data, dollar strong -
more
US Fastener Distributor to Emerge Leaner and More Flexible -
more
Cyclone
Sandra to hit New Caledonia nickel mining operations - A severe tropical
cyclone is bearing down on the south Pacific island of New Caledonia, packing
sustained winds of up to 208 kph (130 mph) and forcing the shutdown of some
nickel mining operations on the French territory on Monday. -
more
Hundreds
Protest Nickel Mining in Russia's Voronezh Region - Hundreds of people rallied
in a village of Russia’s Voronezh region Sunday protesting against the
projected launch of nickel and copper mining ventures. -
more
Ramu pipeline
moved by floods - Dramatic pictures from the Rai Coast in Madang show how
recent floods have exposed and moved the Ramu nickel mine’s slurry pipeline.
-
more
Norilsk Names
Ex-De Beers Chief Gareth Penny as Board Chairman - OAO GMK Norilsk Nickel
appointed former De Beers chief Gareth Penny as chairman after the nickel
company’s biggest owners ended a four-year feud over governance. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, March 8
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
$7.55/b
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.03/lb
lower and off earlier
lows, with other London traded base metals trading mostly lower. Stockpiles
of nickel stored in LME approved warehouses fell ever so slightly on Thursday
and now total just under the 160,950 tonne level. Nickel continues to shadow
the Euro, with no market news to stimulate trades either direction. Nickel
has spent the last week trading inside a fairly tight range - opening and
closing between the $7.50/b and $7.60/lb range. There is a lot of uncertainty
in the market. With the stainless steel industry using over 60% of produced
nickel and growth in production faltering, even in China, the world's largest
producer, demand for swelling stockpiles is in question. Technical
signals for nickel remain bearish. We will see what happens next week.
Have a safe and relaxing weekend!
Average price of cash nickel so far this month - $7.49/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(MF) Posco SS leaves stainless rod, bar prices flat for March
(Interfax) At the annual meeting of China’s legislature taking place
in Beijing this week, government officials and industry executives urged
greater efforts to tackle the country’s steel oversupply problem, putting
the issue firmly on the policy agenda for the new leadership.
(Standard Bank) - "The silence is deafening across physical ore markets,
with buyers of ore displaying a --wait-and-see? attitude. Cargo arrivals
into China continue to be restricted, due to poor weather, port maintenance
and ongoing export bans from India, while high steel stocks and falling steel
prices within China continue to concern domestic steel mills, as they ramp-up
output in anticipation of improving March–May construction activity."
(Dow Jones) U.S. nickel exports rose 60.5% in January from the previous month,
and/but was up 21.5% from the previous year, the Commerce Department reported
Thursday.
(Dow Jones) U.S. nickel imports rose 11.7% in January from last month, but
was down 12.2% from the previous year, the Commerce Department reported Thursday.
EU Extends Levy on Chinese Stainless-Steel Screws to Philippines -
more
Japan Crude
Stainless Steel Production Up - January 2013 = 312,856 tons, up 15.5% from
December; up 65.6% at NSSC Yawata = Crude stainless steel production in January
2013 by the 7 major Japanese stainless steel mills was 312,856 tons, up 15.5%
from 270,852 tons recorded in December 2012 in a steadily recovering trend
from the big drop in November, to exceed 310,000 tons per month level since
August last year. -
more
Sheffield
building's manufacturing heritage secured by community buyout - Portland
Works, where stainless steel cutlery was first produced 100 years ago, is
now in the hands of the craftspeople that work there after 450 people rallied
to buy shares -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, March 7
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
$7.50/lb. Indicators
at 6:55 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals also trading mostly higher. Stockpiles of nickel
stored in LME approved warehouses fell slightly on Wednesday and now total
just over 160,950 tonnes. Nickel is trading slightly higher this morning,
but off earlier session highs and getting most of its boost from a stronger
Euro - which is also showing signs of lagging. Base metals have yet to benefit
from the stronger equity markets this week and nickel needs to show some
stability or we could easily see prices fall back to November and September
2012 levels below $7.20/lb. Market news remains light and our China SS index
number continues to fall.
Average price of cash nickel so far this month - $7.49/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(Interfax) he combined output of China’s 10 largest steelmakers decreased
in 2012, taking the country further away from its industry consolidation
target under the 12th Five-Year Plan, show data released Tuesday by the China
Iron and Steel Association (CISA).
(Reuters) China's top economic planning agency lashed out at the world's
top three iron ore miners on Wednesday, accusing them and some traders of
manipulating the market to drive an 80 percent rally in ore prices in just
six months.
(SBB) Korean steelmaker Posco Specialty Steel (Posco SS) has decided to roll
over domestic prices of its austenitic stainless wire rod and bar for March
...
(Acerinox) China has become the first producer of nickel in the world thanks
to its production of nickel pig iron.
(MF) Japan’s imports of stainless steel products surge by 47.4% m-o-m
Iron Peaked After Restocking Rally, Morgan Stanley Says -
more
LME Nickel
Spot February Average Up 1.5% From January = Despite the sharp drop in the
second half of the month = The LME nickel prices averaged over February 2013
were, according to a well-informed source, spot: US$17,733.75/ton (US$8.044/lb),
up 1.5% from January average and 3 months: US$17,807/ton (US$8.077/lb), up
1.6% compared to the average price of the preceding month. -
more
MSCI Study Shows
Impact of Metals Industry - The economic contributions made by the metal
production and distribution industry are a dynamic part of the U.S. economy,
accounting for more than $552 billion or over 3.5 percent of the nation's
gross domestic product in 2012, according to a recent study commissioned
by the Metals Service Center Institute, Rolling Meadows, Ill. -
more
Ravensthorpe
turns a profit - The Ravensthorpe nickel mine is making money for owner First
Quantum Minerals, with the Canadian miner declaring a gross operational profit
of $US42.5 million ($41.3 million). -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, March 6
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
$7.57/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with most
London traded base metals trading lower as well.Stockpiles of nickel stored
in LME approved warehouses returned to gains yesterday and now total just
over the 161,000 tonne level. Metal trading is bucking the upward trend in
equity markets today, and trading slightly lower, apparently tracking the
Euro. Even market news is quiet today with little in the industry making
news. Venezuela's president Hugo Chavez passed away yesterday and was no
stranger to the nickel industry. His government seized many private business'
in that country during his tenure, including Anglo America's nickel mine
last year. The Minera Loma de Niquel mine was seized in November and is now
run by the government. We expect a quiet day in nickel trading.
Average price of cash nickel so far this month - $7.48/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
(SA) According to SpetsStal Association, the consumption of stainless steel
products in 2012, compared to 2011, decreased 6.5% to 350.3 th. tons. However
various consuming sectors demonstrated mixed dynamics.
60% Of Americans Are Convinced We're In A Recession -
more
China blames manipulation for iron ore price surge -
more
Steel workers in north-west Germany win 3 pct pay rise -
more
Baosteel Group
Forecasts Moderate Increase in China Steel Demand - Baosteel Group Corp.,
the parent of China's biggest listed steelmaker, expects a moderate increase
in steel demand this year, General Manager He Wenbo said. -
more
North American
Stainless Steel Price Forecast from MEPS – North American Average Stainless
Steel transaction values decreased for all products in February. Steelmakers
were unable to hold onto basis advances secured at the end of 2012 because
of poor demand and overcapacity in the market. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, March 5
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
$7.47/lb . Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses took a break on Monday and fell back to just under
the 160,550 tonne level. Markets are rebounding worldwide today after yesterday's
positive close by US markets, stopped the decline that had started earlier
Monday in Asia and spread to Europe. Markets remain very cautious however,
with the Italian election debacle showing the EU has a long way to go before
it gets back on track, and fiscal fights in the US hinting similar problems
for the US have yet to begin. China's leadership re-committed the country
to 7-1/2% growth for 2013 which caught base metal traders attention. Growths
in nickel stockpiles, which are today only 5,928 tonnes short of the all
time record, continue to add a negative fundamental aspect - for those who
still actually still consider fundamentals have anything to do with the traded
price.
Average price of cash nickel so far this month - $7.48/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
IntlFCStone Monthly Commodity Overview - "Reuters estimated Chinese NPI
production last year to have come in around 250,000-350,000 tons of
nickel-contained, which means that almost 20% of the refined nickel market
has been "lost". Moreover, Chinese operators have successfully reduced costs
to between $12,000 –$16,000/ ton, keeping nickel’s upside in check.
We see prices trading between him $16,000 – $17,500 over the course
of March."
China keeps 2013 GDP growth target unchanged at 7.5% -
more
Taiwan Fastener Exports Fall 6.01% in Jan.-Nov. -
more
North American
Stainless - Effective with shipments March 4, 2013, North American Stainless
will increase the fuel surcharge to 36% for stainless flat and long products
shipping in the month of March 2013. The surcharge rate is considered a maximum
level for March and will be reviewed monthly.
(source)
Glencore Sees
Healthy Long-Term Outlook for Commodities - Glencore International Plc (GLEN),
the world’s biggest publicly-traded commodities supplier, said the long-term
outlook for raw materials continues to be positive after a
“lackluster” year in 2012. -
more
Nickel producers
call on govt to remove investment 'barriers' - A group of local nickel producers
is urging the government to remove barriers that prevent the ferro-nickel
industry from pursuing more investments into higher-value ore processing.
-
more
New study fuels
debate over mining jobs, environment - Inside the old LTV Taconite Plant,
huge grinding mills, each larger than a cement truck, are lined up one after
the other in a space the size of several football fields. -
more
Courtesy AISI
- In the week ending March 2, 2013, domestic raw steel production was 1,857,000
net tons while the capability utilization rate was 77.5 percent. Production
was 2,000,000 tons in the week ending March 2, 2012, while the capability
utilization then was 80.4 percent. The current week production represents
a 7.2 percent decrease from the same period in the previous year. Production
for the week ending March 2, 2013 is up 0.8 percent from the previous week
ending February 23, 2013 when production was 1,843,000 tons and the rate
of capability utilization was 76.9 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, March 4
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
$7.53/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME approved warehouses rose by over 1000 tonnes again on Friday
and now total just over the 160,650 tonne level. Nickel is struggling to
find its footing, and while oversold, most readings show the trend remains
negative. Our China stainless steel index, which we have been tracking since
October 2009, hit a chart low today at 90.69. This hints that not only is
nickel dragging down prices, but demand has yet to materialize. And for a
partial reason why that might be happening in China, we have linked to the
60 Minutes episode last night on a possible China real estate bubble. It
shows complete cities that are uninhabited - well worth a watch. Although
a little frightening to the commodities industry.
Average price of cash nickel so far this month - $7.45/lb
Average cash price of nickel last month - $8.04/lb / average last year
- $8.08/lb
Nickel,
an old-fashioned story of boom and bust:Andy Home - Remember the commodities
super-cycle? That wonderful all-embracing bull narrative of structural
step-change in commodities demand coupled with "stronger for longer" pricing?
-
more
USW Local
2020 votes on 'fair deal' with Xstrata - A union staff representative says
he expects a recent deal cut between members of United Steelworkers Local
2020 and Xstrata Nickel in Sudbury will be approved at a Friday night vote.
-
more
Exclusive:
Glencore bartered with firm linked to Iran nuclear program - Commodities
giant Glencore supplied thousands of tons of alumina to an Iranian firm that
has provided aluminum to Iran's nuclear program, intelligence and diplomatic
sources told Reuters. -
more
Mining operations
on the Iron Range - The Iron Range was formed some two billion years ago.
There are actually four areas of iron range deposits. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, March 1
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
$7.53/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.09/lb
lower, with all London
traded base metals trading lower as well. Stockpiles of nickel stored in
LME approved warehouses rose by over 1500 tonnes on Thursday and now total
just over over 159,500 tonnes. 166,476 tonnes from Feb 8, 2010 is the all
time record high and if March sees growth rates equivalent to February, this
record will probably not hold thru the month. LME warehouses gained 7,968
tonnes in February. Markets are trading lower this morning on surprising
news from China that their official manufacturing PMI dropped in January
to 50.1 from 50.4. While still showing positive growth, it also implies that
Chinese factories are about as close to stalling as they can be. This news,
along with a European report that shows manufacturing contracted for the
fifteenth consecutive month there, has pulled the Euro lower this morning,
and dragging base metals lower as well. We show cash nickel averaged $8.04/lb
during February, up from $7.92/lb in January. Have a restful and safe weekend.
Average price of cash nickel so far this month - $8.04/lb
Average cash price of nickel last month - $7.92/lb / average last year
- $7.95/lb
Vale Promises Turnaround After Posting Record Loss -
more
Vale Indonesia Blames Falling Nickel Price for Profit Dip -
more
Euro holds near lows, vulnerable to Italy and U.S. cuts -
more
U.S. Fastener Industry To Grow 2.3% in 2013 -
more
HKEx
may launch monthly metals contracts to boost profits - Hong Kong Exchanges
& Clearing Ltd is likely to launch monthly metals contracts as part of
a plan to boost business with mainland China and justify its $2.2 billion
purchase of the London Metal Exchange, senior metals industry executives
and traders said on Friday. -
more
Japan's SUS
Scrap Prices Unaffected By LME Nickel Price Drop = Supported by the weakened
yen = The price in Japan for nickel-alloyed stainless steel scraps (new
clippings) delivered during March is forecast to be unaffected by the recent
drop in LME's nickel prices. -
more
MEPS:
Stainless steel sector rationalisation is inevitable - The merger between
Outokumpu and Inoxum - the stainless steel producing arm of ThyssenKrupp
- together with the associated divestments and planned plant closures, highlights
the role that industry consolidation may have to play in the rebalancing
of supply and demand in stainless steel. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators at
7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with all London
traded base metals trading lower as well. Stockpiles of nickel stored in
LME approved warehouses rose on Wednesday and now total just over the 165,400
tonne level. Nickel held up fairly well yesterday, gaining in price while
the Euro fell to a four moth low. Nickel opened slightly lower this morning
and hasn't done much since, trading quiet before a four day weekend in London.
Cyprus banks have re-opened today, with rules in place to pretty much guarantee
any bank run will have its hands tied from the start. Based on news reports
from the region, the tactic has worked. The long term implications to the
events that took place in Cyprus over the past week are yet to be witnessed,
but many fear the psychological damage to the EU may be as bad as the economic
depression now forecast for the small island state. Today's trading is the
last for the week, the month, and the quarter as London markets are closed
tomorrow for Good Friday. Unless something noteworthy happens that deserves
an update, this will be our last report for the week and month as well.
Reports
Commodity/Economic Comments
Fundamentals
Have A Greater influence on Nickel Prices - MEPS International Ltd has
often observed that commodity prices tend to follow the trends in global
financial markets, instead of being driven by fundamentals. More specifically,
the price of nickel-bearing stainless steel has been disproportionately affected
by institutional investors on the commodity markets, rather than by the supply
and demand outlook for the physical metals. -
Stainless
steel tribute - A plaque commemorating the centenary of the discovery of
stainless steel by Harry Brearley has been unveiled – in a Tesco Superstore.
-
Chinese steel
traders seek rebates from mills amid tepid demand - Burdened with massive
stockpiles of steel and slowing demand growth, some loss-making Chinese traders
have asked mills for rebates on metal that has fallen in value since they
bought it. -
New
Caledonia set to become high per capita emitter - Environmental groups say
New Caledonia will become one of the world's biggest carbon emitters per
capita due to expansion of the French Pacific territory's nickel production.
-
Cuba hopes
to keep nickel output above 60 000 t - The Cuban nickel industry plans to
produce around 62 000 t of unrefined nickel plus cobalt in 2013, according
to local and foreign company reports, following the closing of one of three
processing plants last year. -
Courtesy AISI
- In the week ending March 23, 2013, domestic raw steel production was 1,809,000
net tons while the capability utilization rate was 75.5 percent. Production
was 1,982,000 tons in the week ending March 23, 2012, while the capability
utilization then was 79.6 percent. The current week production represents
a 8.7percent decrease from the same period in the previous year. Production
for the week ending March 23, 2013 is up 1.3 percent from the previous week
ending March 16, 2013 when production was 1,785,000 tons and the rate of
capability utilization was 74.5 percent.
Merafe
Resources - Shareholders of the Company are advised that the European
benchmark ferrochrome price has been settled at 127USc per pound for the
second quarter of 2013, an increase of 13% from the 112.5USc per pound price
in the first quarter of 2013.
Norilsk
Nickel Stock Plunges on Rumors of Abramovich Arrest - Shares in Russian metals
giant Norilsk Nickel and steel maker Evraz plunged to a four-month low in
Monday afternoon trading in Moscow and London on rumors that tycoon Roman
Abramovich had been detained in the United States by the Federal Bureau of
Investigation (FBI). -
China iron
ore demand to rise 50 mln T in 2013 -planning body - China's iron ore demand
is expected to rise by 50 million tonnes in 2013, but it will not be enough
to soak up a supply glut on the world market, the country's top economic
planning agency said on Monday. -
Tests for
nickel in Quebec City air anxiously awaited - A report on the presence of
nickel in the air around Quebec City’s Limoilou neighbourhood is being
eagerly awaited by the city’s port authority and members of the government.
-
Global
nickel oversupply set to increase in 2013 - INSG - Growth in global production
of primary nickel this year is set to outpace consumption growth, increasing
the surplus in the global market, the Lisbon-based International Nickel Study
Group (INSG) forecast on Thursday. -
Production
of Stainless Steel Products in January, 2013 Is 226,709 Tons =Up by 4% from
the prior month, Cr type and Ni-Cr type are increased= The Ministry of Economy,
Trade and Industry announced on March 14 that the production volume of stainless
steel products (hot-rolled steel) in January, 2013 was 226,700 tons, which
was up by 4.1% from the prior month. -
Study
on Xstrata Nickel mine ready early April, UN rep says - UN Development Program
(UNDP) representative Valerie Julliand on Monday said its technicians already
completed the field work on the feasibility study submitted by Xstrata Nickel
Falcondo to exploit Loma Miranda (central). -
Talvivaara
to Meet Nickel Target This Year, CEO Says - Talvivaara Mining Co., the Finnish
nickel miner selling shares to repay debt, said it will meet a 2013 output
goal in the second half after resolving operational issues at its main mine.
-
Nickel Institute
: EU Raw Materials Policy should embrace resource efficiency and competitiveness
challenges - At the 3rd Annual Raw Materials Conference, hosted today in
Brussels by the Nickel Institute, policymakers debated the issues and challenges
surrounding EU raw materials policies. -
ThyssenKrupp
trust's 99-year-old chief to stay on -report - The 99-year old head of a
trust that holds a key stake in steelmaker ThyssenKrupp has no intention
of stepping down, he told a German newspaper, even after a shake-up that
saw the company's chairman resign. -
Nickel
mine targets higher output - A unit of Oriental Resources Peninsula Inc.
(ORE) is eyeing to increase nickel-ore production in its nickel mine in the
nearby town of Narra from 10,000 metric tons to 14,000 MT per day within
the year. -
'Rising
star' unfazed by falling nickel price talk - Rox Resources' managing director
has dismissed speculation about the falling nickel price, saying it is a
secondary consideration for the company.
. Indicators at 7:00
am CST today show 3 month nickel trading around $.02/lb
Ramu pipeline
moved by floods - Dramatic pictures from the Rai Coast in Madang show how
recent floods have exposed and moved the Ramu nickel mine’s slurry pipeline.
-
(lowest reading this
year)
Exclusive:
Glencore bartered with firm linked to Iran nuclear program - Commodities
giant Glencore supplied thousands of tons of alumina to an Iranian firm that
has provided aluminum to Iran's nuclear program, intelligence and diplomatic
sources told Reuters. -
