This page is archived news covering the period of March 2013
If you are looking for current daily market news, please visit here.

LME nickel prices and news

Stainless Steel News and Nickel Prices

Free comprehensive information on worldwide nickel market pricing, stainless steel prices and metals analysis and forecasts


Daily Nickel Market News & Stainless Steel Prices

Kiva - loans that change lives

Nickel Prices

Stainless Steel News

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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Zinc Falls as Higher German Unemployment Fuels Crisis Concern - more
  • LME Morning - Base metals pressured by eurozone jitters, copper cancellations jump - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.36
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Aluminium, lead and zinc hit four-mth lows in light pre-holiday trade - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.35
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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 economy steadily regaining growth - more

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

Tuesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rises near 2-week high on China hopes - more
  • Bloomberg metals morning - Copper Advances in London as U.S. Manufacturing May Boost Demand - more
  • LME Morning - Base metals prices little changed, consolidate in uninspired trading - more

  Reports

  • World Crude Steel Production Feb 2013 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.36
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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.
  • Cyprus & the biggest myth of banking today - more
  • Myth Busting Those Pesky Recession Fears in Four Simple Charts - more
  • Tropical Pacific ENSO neutral - more

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

Monday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls in London as China’s Usage May Slow; Lead Advances - more
  • Reuters metals morning - Copper climbs as Cyprus deal boosts risk appetite - more
  • LME Morning - Base metal little changed, shrug off Cyprus bailout - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.44
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - LME copper up, but set for biggest weekly drop in four - more
  • Bloomberg metals morning - Copper Narrows Weekly Drop on Signs Price Slump Spurred Buying - more
  • LME Morning - Base metals price flit sideways amid Cyprus uncertainty, copper inventories soar - more

  Reports

  • AK Steel Stainless Steel Surcharge April 2013 - pdf here
  • Outokumpu Stainless Steel Surcharge April 2013 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.44
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • World Steel Association praises new ISO standard - more
  • China HSBC Flash PMI rises to 51.7 in Mar - more
  • (China) Analyst: 2013 power consumption to accelerate - more
  • 2012 China's Metal Fastener Output - more

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

Thursday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Lead and Zinc Gain as Chinese Manufacturing Expansion Speeds Up - more
  • LME Morning - Base metals stumble on soft EU PMIs, copper little changed - more

  Reports

  • Allegheny Stainless Steel Surcharge April 2013 - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.52
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • 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.
  • US Oil Output to Surpass Imports this Year - more

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

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Advances as Morgan Stanley Sees Demand Reviving in China - more
  • LME Morning - Base metals rally on Cypriot vote against proposed levy but underlying problems remain - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.59
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines to Four-Month Low on Cyprus, Inventory Concerns - more

  Reports

  • AIIS March 2013 Steel Market Survey - doc here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.64
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Industrial Metals Fall on Cyprus; Copper Touches 4-Month Low - more
  • Reuters metals morning - LME copper slides to 4-month low as Cyprus plan roils mkts - more
  • LME Morning - Base metals prices fall widely after Cyprus debt bailout, four-month lows hit - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.66
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Questions abound at junior mining firm - more
  • (China) Electricity use increase shows stronger economy - more
  • 2012 US Fastener Exports Jump 9.26% - more

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

Friday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Industrial Metals Head for Second Weekly Advance on U.S. Rebound - more
  • LME Morning - Base metals find tentative footing, await US numbers - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.64
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Aluminum and Nickel Gain on Stronger Equities and Demand Signals - more
  • LME Morning - Base metals edge higher but caution remains - more

  Reports

  • Damstahl Stainless Steel Report - March 2013 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.63
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Zinc Rises on Speculation China to Further Loosen Rate Controls - more
  • LME Morning - Base metals edge up on short-covering, technical movements - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.61
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Gains for Second Day as Aluminum Rises From 15-Week Low - more
  • LME Morning - Base metals rangebound, await further direction - more

  Reports

  • Forging Ahead: Global Metals Deals 2013 outlook and 2012 review - report here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.60
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Zinc Declines for a Second Day on Chinese Industrial Production - more
  • LME Morning - Base metals retreat, prospects of slowing Chinese economy weigh - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.60
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Trims Weekly Advance as Imports Decline, Stockpiles Rise - more
  • LME Morning - Base metals deflate in run-up to US jobs report, copper hit by stockpile increase - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.60
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - LME copper up after U.S. data, but dollar strength a drag - more
  • LME Morning - Base metals narrowly mixed, sit back ahead of rate-setting developments - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.61
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls on Concern Demand Is Weak Amid Ample Inventories - more
  • LME Morning - Metals retreat, decouple from strong equities as mood remains cautious - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.62
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Leads Gains in Industrial Metals on China: LME Preview - more
  • LME Morning - Base metals prices higher on China growth aim, gains curbed by caution - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.63
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • 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."
  • Chinese miners ready to bulk up - more
  • Eurozone PMI Confirms Business Slump - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Aluminum Pares Decline as Rusal Plans to Cut Output: LME Preview - more
  • LME Morning - Base metals stagnate in uncertain conditions - more

  Reports

  • U.S. Imports for Consumption of Stainless Steel Products Jan 2013 - more
  • Stainless Steel Surcharge March 2013 ThyssenKrupp Nirosta - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.69 (lowest reading this year)
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • SMM Nickel Market Morning Review (2013-3-4) - more
  • Mining companies remains optimistic despite slowing market - more
  • Italian worries, growth fears send shares, euro lower - more
  • Metal recycling safety found lacking - more
  • China's real estate bubble - more

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

Friday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Reaches Three-Month Low as Chinese Data Disappoints - more
  • LME Morning - Base metals sell off, key support levels broken - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 90.74
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

 February Archives


Chart Info Delayed 1 Day

Chart temporarily down

Chart temporarily down


Translate this page to French | German | Spanish | Italian | Portuguese | Chinese | Japanese | Korean | Russian


"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays - Disclaimer Original 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.

Site Sponsors

Advertise your company on this site

Your banner here

2/7 Market Prices
not official prices

ferrochrome and chromium prices

Moly Oxide (>51%)
$11.50/lb
 
Source

2/7 Scrap Price

Stainless Steel (LTL/ton)
$.82/lb
 ferrochrome prices and molybdenum prices

MEPS Stainless Steel Price Index

Global 304 SS Index

nickel prices

North America 304 Index

price of stainless steel

EU 304 SS Index

price of nickel

Asia 304 SS Index

Other Sites

Nickel Mining Stock
Stainless Steel Videos
USGS Mineral Reports
Industrial Metals Index
Nonferrous Metals Index
World Disaster Info
NOAA El Nino Updates
Investor Guide

Today's Market

USA Economic Calendar
World Economic Calendar
Europe Markets
Asia/Pacific
TED Spread
LMEX Index
VIX Index
US Futures


LME Margins
LME Calendar
LME Ring Times
Metals MSDS
Nickel Toxicology
Stainless Steel MSDS
USGS Molybdenum Info
USGS Nickel Information
USGS Chromium Information
Tariff Codes (many countries)

Price of Nickel

Nickel Graph Temporarily Down

1 and 5 year nickel chart

JP Morgan Delayed Price

Daily Commodity Prices

Site Pages

Nickel Price Charts/Forecasts
Stainless Steel Graph/Charts
Stainless Steel Surcharge
Nickel/Stainless Research
Stainless Steel Literature
Make your own charts
Ferrochrome Facts
Worldwide PMI

Archives

2020
January February March
April May June July

2019
January February March
April May June July August
September October
November December

2018
January February March
April May June July August
September October
November December

2017 and prior



nickel news




Nickel Publications at Amazon

Contact author  /   EStainlessSteel Home Page

Your free daily news source for nickel, molybdenum, ferrochrome, chromium, iron ore and stainless steel market prices and news.

Any reproduction in whole, or in part, without permission from the author is prohibited.
© 2003-2019