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Monday, March 31
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
$7.14/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. Stockpiles of nickel stored in LME
licensed warehouses fell on Friday and ended the week just over the 285,650
tonnes. Nickel ended higher on Friday, but lower for the week, the first
such weekly price drop since mid February. It is too early to tell if nickel
traders might be entering troubled waters, with nickel looking weak even
on gaining days. Today sees the end of the first quarter of 2014, so we could
just as easily be seeing funds taking some month end profits and squaring
their books. Equity markets around the world have either closed higher, are
trading higher, or look to trade higher when they open. For those who missed
the 60 Minutes segment last evening on "IS The US Stock Market Rigged?" -
it is worth watching
(here).
Average price of cash nickel so far this month - $7.10/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Yieh) According to China Customs statistics, China's nickel ore imports
totaled 3.57 million tons in February.
(MBN) Nickel will soon experience one of the most significant commodity price
runs in the past 25 years, Royal Nickel Corp’s Mark Selby has predicted.
Copper seen stuck at $3 by China’s stimulus dilemma -
more
Nickel Set for Biggest Quarterly Gain Since 2010 on Supply View - Nickel
rose in London, set for the biggest quarterly advance since 2010, amid concern
supplies will be constrained. Copper headed for the largest quarterly drop
since June. -
more
China stainless
steel production accounted for half of the global total in 2013, industry
report - According to the Steel Market Intelligence GmbH (SMI) on 2013, global
stainless steel output was 40000000 tons, and China production reached 20500000
tons. The report said Chinese output rose 17% last year. -
more
LME warehousing
throws up roadblock for Charles Li - Earlier this month, the chief executive
of Hong Kong Exchanges and Clearing , Charles Li, was eager to talk about
anything but the years-long warehousing crisis at the London Metal Exchange.
-
more
Baosteel
says outlook bleak after sharp fall in 2013 profit - Baoshan Iron & Steel
Co Ltd (Baosteel), China's biggest listed steelmaker by market value, said
it expected no significant improvement in the industry's prospects this year
after posting a 42 percent fall in net profit for 2013. -
more
Mick
Davis is cash heavy and hunting for mining deals – maybe in Canada -
The new company set up by Mick Davis and other former Xstrata executives,
X2 Resources, has raised $2.5-billion (U.S.) in funds and is set to buy mining
assets in the belief that the commodities cycle is set for a revival. -
more
FQM to put
$100m in new nickel project - First Quantum Minerals (FQM) says it will invest
US$100 million in its proposed nickel mine project in Kalumbila, which is
located west of Solwezi. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, March 28
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
$7.12/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel store
din LME approved warehouses finally fell on Thursday, and now total just
over the 285,450 tonnes. Stockpiles ended yesterday 14,334 ahead of where
they stood on the last day of February, a gain of 5%. Nickel has found support
at $7.10/lb and successfully stayed above its 20 day moving average, although
it is presently trading off earlier session highs. Technically, most of the
signals remain bullish, although the intensity of the last two days slip
has put the staying power of the bull in question. Fundamentally,
the growth in stockpiles put in question when the nickel ore export ban from
Indonesia will start having a serious affect on China. For now, the
reported slowdown in stainless steel demand in China is probably doing more
to keep any immediate effect in check. The whole threat of banning the import
of Russia nickel was, in our opinion, pure fluff from the beginning. China
has shown it does not like interfering in the politics of other regions and
finds itself looking for a new source of laterite nickel. Europe and America
banning their neighbor's production of refined ore, could help them identify
a new supply source. For now, the bull remains alive and well. Have a safe
and relaxing weekend.
Average price of cash nickel so far this month - $7.10/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Higher nickel ore shipment boosts Marcventures' net income in 2013 -
more
China Commodities Weekly: Demand Sags for Base Metals - China's demand for
base metals including copper, aluminum and nickel has been weak since the
start of the year due to tight credit and a poor real estate market, Citi
Research said. -
more
Stars
Aligned for Nickel Bull Market - Russian President Vladimir Putin’s
actions have certainly stirred the pot in the energy market, as our Investment
Director, Karim Rahemtulla, recently pointed out. -
more
LME Warehouse
Delays Get Extended as Judge Bars Fix Plan - Aluminum-delivery bottlenecks
at warehouses that raised buyer costs and dragged the world’s biggest
metals exchange into 26 U.S. lawsuits will last longer, after a plan to ease
delays April 1 was tossed out by a judge. -
more
LME ruling creates 'perfect storm' for CME's aluminum bid - A British court
ruling that has set back the London Metal Exchange's sweeping warehouse reforms
has handed CME Group an unexpected windfall just weeks before it launches
an audacious challenge to the world's biggest aluminum contract. -
more
MCC says
Ramu mine production loss ‘huge’ - The financer and major stakeholder
in the Ramu NiCo project, the MCC Group, wanted Ramu NiCo Management (MCC)
Ltd to hit the 70% production capacity this year while aiming at 80%. -
more
Zimbabwe:
'BNC Can Process Platinum Metals' - Bindura Nickel Corporation could turn
its smelter and refinery into precious metals refinery with a few modifications
and refurbishment, managing director Mr Batirai Manhando said. -
more
The Latest
Mining Boom? Plants That Eat Metal And Scrub The Soil Clean - Plants that
eat metal sound like a biological impossibility. But these hungry little
guys exist, sucking tiny bits of toxic metal from the soil. They don’t
just clean the Earth, either — they can actually mine bits of gold and
nickel for use by humans. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, March 27
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
$7.21/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading mostly higher, but quieter. Stockpiles
of nickel continue to rise at a surprising rate. Yesterday's gains took totals
to yet another all time record high, to 286,674 tonnes. Nickel closed lower
for a second day yesterday, and appears to be experiencing a long overdue
correction. Even bull markets need to take breaks too remain healthy. Standard
Bank daily commodities report from March 25th stated "Nickel has continued
to rally, with the metal trading above $16,300. Worth noting is the presence
of a large short position in the latest LME Futures Bandings report. The
position is for June-14 with one participant in the +40% band. The presence
of this short is likely why June-14/July-14 is trading around $3-5 contango
while April May is $19-20 contango." We show support for nickel at $6.86/lb.
Technical signals hint the downturn in the nickel price over the past few
days is no more than a correction in a bullish trend. The risk to the market
however, is market trends feeding on themselves can hit bear runs just as
quickly as they can affect bullish runs. Stay tuned.
Average price of cash nickel so far this month - $7.10/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) According to the latest World Steel Dynamics SteelBenchmarker, the
world export price for hot rolled band fell by $7/t at the end of March 2014,
to $550/t. This is its lowest price since late July 2013.
(MB) China's nickel ore imports fell to their lowest level in two years in
February, as Indonesia's ban on exports of unprocessed minerals took effect
in January.
Castro Seeks Foreign Investment Law as Cuba Economy Slows -
more
Indonesia
nickel, bauxite ban yet to hit China: Clyde Russell - Indonesia's ban on
exporting unprocessed nickel and bauxite has been in force for more than
two months, but the impact has yet to fully show up in Chinese imports. -
more
Why
this base metal is weathering the rout - Amid a brutal rout in base metals
this year, one commodity is standing out from the crowd and has even further
to run this year, analysts told CNBC. -
more
China exports
of steel products up in January - China’s exports of steel products
during January totaled at 6.55 million tonnes up by 26.7% from a month ago.
-
more
First Nations,
Ontario reach Ring of Fire framework deal - The Ontario government and the
nine communities of the Matawa First Nations have negotiated a
“milestone” framework agreement on how to move forward with mineral
and community development in the Ring of Fire. -
more
History shows mining’s consequences: Rules to protect Maine’s
environment are insufficient - I have observed mines and mining operations
on three continents and in many countries. What too many have in common are
the contaminated waters, decimated fish populations, polluted air and destroyed
landscapes left behind. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, March 26
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
$7.28/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading mixed and mostly quiet. Stockpiles of nickel
continue to silence those who are trying to justify price increases by claiming
'tight supplies', and nickel held in LME licensed warehouses set their fifth
all time record high over the past six reporting days, now totaling 285,210
tonnes. Found an interesting article on a Chinese metals site dated Monday,
trying to explain to readers why stainless steel prices were lower from the
end of the Chinese New Year holiday, while nickel prices were higher. In
fact, this article reported that LME nickel was up 15.4% on Monday, Jinchuan
nickel up 9.9%, 2% nickel ore up 12.5%, and spot cold roll 304 SS down 1.3%.
The author gave credit to two things happening in China to explain this.
First and most telling, is that stainless street demand is down, while stainless
steel supply is up. The article gives examples of stainless steel stockpiles
that have grown since the end of the New Years holiday. Secondly, the author
credits the lower costs of RKEF integration process nickel production for
lowering the cost of stainless steel. The lower demand might explain not
only the lower cost of stainless steel in Chia than a month ago, but also
might explain why stockpiles of nickel continue to climb, even after the
Indonesia nickel ore ban. Also for those who feel we might be rather cynical
about nickel pricing sometimes, we remind our readers of this. From a Feb
14, 2013 Reuters article entitled "Russia's Norilsk says may work with traders
after years of ban", note this statement - "Glencore in 2010 offered a
marketing deal to Norilsk that it rejected. Viktor Sprogis, Norilsk's
ex-head of marketing, said last year Norilsk's major interest was market
stability, while Glencore as a trader was more interested in volatility.
Glencore has traded large volumes of Russian coal, grains and aluminium for
decades and last year extended its reach to include large volumes of oil.
Glencore is due to merge with miner Xstrata later this year, making it one
of the largest nickel miners in the world." When we say many of the people
who analyze nickel, work for companies that trade in nickel, and these companies
only make money if the trading price is changing - you tend to get cynical
about what the so called experts have to say over time. Nickel moved higher
in February on speculation and has grown on more speculation and positive
technical signals. When those two signals start sending negative signals,
we could see a reversal in the trend. Or, by then, we might be able to look
to fundamentals to justify further increases.
Average price of cash nickel so far this month - $7.09/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters) Philippine conglomerate DMCI Holdings Inc has acquired an additional
40 percent stake in ENK Plc for about 3 billion pesos ($69 million), taking
full control of the UK-listed mining holding firm focused on developing its
Acoje nickel mining project in the Philippines, the Philippine Daily Inquirer
reported.
Iron Ore Forecast Cut by Australia as Miners Increase Output -
more
(China) Worried depositors descend on Jiangsu bank amid insolvency rumours
-
more
Why Nickel
May Be Just Beginning a Major Price Breakout Move - Governments around the
world especially in the emerging economies are now beginning to worry about
inflation and currency devaluation. -
more
Chin: Nickel
Mine Lacks Transparency - Chin civic groups and politicians have demanded
full public disclosure of the scope and impact of the Mwe Taung nickel mine,
fearing that the environmental and social impacts may be far more severe
than current data predicts. -
more
Execs tour
Ramu NiCo - The US$2.1 billion (K5 billion) Ramu NiCo project has been the
biggest investment undertaken by the China Metallurgical Construction Corporation
(MCC-Group) outside China, the company said. -
more
Invisible men lined up as heirs at commodity traders - Abrupt leadership
changes at commodity traders Trafigura and Gunvor over the past week have
put a sharp light on an industry-wide challenge: shifting oversight from
a legion of legendary, aging leaders to a new generation. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, March 25
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
$7.30/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.10/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Monday and now
totals 283,632 tonnes. Interesting quote from a SMM article linked below.
"The significant weakness in refined nickel imports, falling to the lowest
since June last year, indicates that the Chinese nickel market is clearly
not yet at a stage where the Indonesian ore export ban is inducing a positive
switch by stainless producers to refined units. But sharp declines in both
bauxite and nickel ore imports point to the incremental impact of the Indonesian
ban, with final shipments from Indonesia now having tapered off and a very
limited supply picture currently from alternate sources. From a demand
perspective, the data offered little in the way of positive signals to counteract
current pessimism and uncertainty." In other words, fundamentals do not
justify the increase in the price of nickel over the past few weeks. Nickel
is on a bullish run that is now self fueling itself. Cancelled warrants came
within a hair's width of hitting the 50% level yesterday, while still hitting
an all time record. If you think this nickel is actually sold to stainless
steel producers, we have some ocean front property in Colorado we would like
to sell you. No, after slipping early in 2013, and doing nothing for the
latter half of the year, traders are looking to nickel to make up for some
of the loss they are seeing in copper prices this year. And over the past
few weeks, nickel has not failed them.
Average price of cash nickel so far this month - $7.07/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Barclays sees
a further decline in Chinese import data for March - Adding to fears of a
weakening economy, Chinese oil and industrial metals imports fell back in
February, though from what had been exceptionally high levels in January.
-
more
New plant
to use nickel sulphide conc in making stainless steel – Tsingshan Holding
Group is building the world's first integrated nickel pig iron plant to use
nickel sulphide concentrate as part of the stainless steelmaking process.
-
more
Chins say
nickel mine too opaque - Chin civic groups and politicians have demanded
full public disclosure of the scope and impact of the Mwe Taung nickel mine,
fearing that the environmental and social impacts may be far more severe
than current data predicts. -
more
China ditches
steel industry consolidation targets in new plan - China's policymakers have
again promised to make it easier for steel mills to merge and consolidate,
but they appear to have ditched a long-standing target to bring 60 percent
of the sector under the control of its 10 biggest enterprises by 2015. -
more
Courtesy AISI
- In the week ending March 22, 2014, domestic raw steel production was 1,885,000
net tons while the capability utilization rate was 78.4 percent. Production
was 1,827,000 net tons in the week ending March 22, 2013, while the capability
utilization then was 76.2 percent. The current week production represents
a 0.1 percent increase from the same period in the previous year. Production
for the week ending March 22, 2014 is up 3.2 percent from the previous week
ending March 15, 2014 when production was 1,828,000 net tons and the rate
of capability utilization was 76.0 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, March 24
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
$7.29/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
approved warehouses fell slightly on Friday and ended the week just over
the 283,500 tonne level. Cancelled warrants continue to run just under the
50% level. Markets started lower this morning after it was reported that
the flash Markit/HSBC China Purchasing Manager index fell to an eight-month
low of 48.1 in March. This is a market where bad news is unwelcome but too
much bad news is actually seen as a positive sign that governments will have
to take steps to stimulate their respective economies. Traders are now betting
that China will have to do just that. Having punched thur the $16,000 tonne
level fairly easily, we do not see another strong sign of technical resistance
for nickel traders until $7.75/lb, with a weaker line at $7.31/lb.
Average price of cash nickel so far this month - $7.06/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China Nickel Imports and Exports Data February 2014 -
more
(FM) February nickel ore imports [into China] fell sharply due to the
Indonesian ore export ban. However, imports for refined nickel imports fell
53 percent m-o-m as well to just 5,200 tonnes. With the recent nickel price
rally, it shows that there are already signs that tightening dynamics are
ongoing in the ore and NPI sectors. “It will also be interesting to
see if the force majeure declared by Jinchuan Group in mid-March supports
a rebound in refined nickel imports,” wrote the report by Barclays.
(SSY) World crude steel production for the 65 countries reporting to the
World Steel Association was 125.0 Mt in February 2014, up 0.6% year-on-year.
Tin at $24,000 Seen as Ideal Level for Indonesia’s ICDX Exchange -
more
Russia's
leading role in the Indonesian mining revolution - Russia's two metal giants
have emerged as big winners from Indonesia's new mining law, after leading
a drive to get Jakarta to stick to its controversial mineral ore export ban
in the face of opposition from miners and Asian buyers. -
more
Water or sulfide
mining: Which is more valuable? - When evaluating the impact of the proposed
copper-nickel mines like PolyMet and Twin Metals on the natural resources
of Minnesota, regulators, political leaders, and the public should consider
the value of water as a natural, replenished resource. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, March 21
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
$7.20/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.10/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses rose to yet another all time record high on Thursday,
and now total 283,578 tonnes. Nickel has returned to its bullish run today,
partially supported by technical problem at Jinchuan, partly supported
by the Indonesia nickel ore export ban, partly supported by fears the world
may say no to Russian nickel in response to Crimea leaving Ukraine and joining
with Russia, etc. And did we mention all tie record high levels of nickel
stockpiles. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $7.04/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
Citi Group's David Wilson - "It is more expectations of the beginning of
the tightening of the nickel market which is now driving prices, after last
week moves which were more related to macro funds adding length and CTAs
short covering."
Putin tells Russian businessmen to bring their assets back home
- more
Australia's Rinehart seals funding for $10 bln iron ore project -
more
Jinchuan
declares force majeure on some copper concentrate purchases - Jinchuan's
production of copper and nickel likely to fall * Chairman Yang expects nickel
prices to rise on outage (Recast with chairman comments on outage and prices)
-
more
Nickel price
on the rise, but Cuba has limited benefits - After a three-year decline,
world nickel prices are on the rise again, providing respite for cash-strapped
Cuba. -
more
High-Grade
Iron Ore And Nickel Defy The Falling Trend In Commodity Markets - Government
policies, more so than the economic forces of supply and demand, are having
a significant distorting effect on two of the steel industry’s basic
inputs with high-grade iron ore attracting a near-record price premium and
nickel enjoying “bull” market conditions after a 20% rise over
the past four months. -
more
South
Africa's Xstrata, Japan's NSSC begin talks for Q2 ferrochrome term deals
- Negotiations between South Africa's Xstrata Alloys and Japan's Nippon Steel
& Sumikin Stainless Steel Corp. for ferrochrome contracts for the second
quarter of 2014 started last week, one of the participants in the negotiations
said Tuesday -
more
Fednav brings
new icebreaker to the Canadian Arctic - Fednav announces the arrival in Canada
of its latest, highly specialized icebreaker, the MV Nunavik. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, March 20
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
$7.41/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.16/lb
lower, with other
London traded base metals trading much lower as well. Stockpiles of nickel
once again snubbed the rumors of potential shortages on the horizon, and
LME licensed warehouses gained a staggering 12,138 tonnes in one day - taking
the total to a new record high of 283,434 tonnes. Stockpiles have grown by
12,816 tonnes so far this month. Markets around the world are down, sending
the new US Fed Chairperson a strong message of disapproval, over her statements
made yesterday, that interest rates could rise earlier than expected. This
has helped boost the US Dollar, which had added additional pressure to commodity
trading. Nickel, which someone out there decided only entered a bull market
on Wednesday, is down hard today, but we suspect the bull is only momentarily
cornered, so we wouldn't recommend firing up the barbecue just yet. Even
if the bull market is set to continue, there needs to be a correction and/or
a serious slowdown in the remarkable rise in the price, otherwise the market
starts to look suspicious. We continue to set record levels of nickel stockpiles
but yet someone has convinced the world the world might try to ban the importing
of Russian nickel? The US has had a great track record of convincing other
countries to ban the import of nickel from a neighboring Communist island
- so the probability of convincing the world, or neighboring China, to stop
importing a rock from Russia..... good luck with that. The trend for nickel
remains positive, while the days trading is negative.
Average price of cash nickel so far this month - $7.03/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
El Nino Probable by July for MDA as Temperatures Warm in Pacific -
more
Indonesia
ready to face Japan`s complaints at WTO - Indonesia is ready in the event
that Japan decides to file a complaint at the World Trade Organization, with
regard to the implementation of the countrys law on minerals and coal mining.
-
more
RI wants
Japanese commitment - The government will formally ask Japan to relocate
its nickel-smelting facilities to Indonesia in a bid to end tension resulting
from raw material supply disruption following the implementation of the mineral
ore export ban. -
more
February
2014 crude steel production - World crude steel production for the 65 countries
reporting to the World Steel Association (worldsteel) was 125 million tonnes
(Mt) in February 2014, an increase of 0.6% compared to February 2013. -
more
China steel
industry braced for worst quarter - CISA - The China Perspective cited Mr
Liu Zhenjiang deputy director of the China Iron and Steel Association as
saying that the Chinese steel industry is likely to see its worst ever quarter
in Q1 2014. -
more
The country’s most radical priest confronts Xstrata Nickel again - Dominican
Republic’s icon radical priest Rogelio Cruz for the second time in as
many months leads a protest Wednesday morning which snarls traffic on the
Duarte highway near Loma Miranda, to demand that the Government declare it
a National Park. -
more
Junior miner
to open Sudbury operation - Wallbridge Mining Company, a Sudbury-based junior
miner, is advancing its production at its Broken Hammer nickel, copper, platinum
group element project in Sudbury. -
more
China
Isn’t Slowing Down, It’s Buying Up Resources, that Is - A Chinese
economic slowdown may get good web traffic, but the real story is that China
is buying up uranium and other resources around the world. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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 19
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
$7.37/lb. Indicators at
7:00 am CST today show 3 month nickel trading flat
, with other London
traded base metals trading lower. LME licensed warehouses have apparently
not received the memo yet that the market is fearful of nickel deficits on
the horizon, and stockpiles broke a new all time record high overnight, with
a total of 271,296 tonnes. Nickel official prices closed over the $16,000
tonne mark for the first time since April last year. Also, worth noting that
the 'average' official cash price for March is now over $7.00/lb. Here is
yesterday's reasoning for the sharp increase in nickel prices from Bloomberg.
"Nickel entered a bull market yesterday on speculation Russian supplies will
be disrupted at a time when some shipments are already banned in Indonesia."
For those of us in the stainless steel industry, who have felt like we have
been running from the bulls of Pamploma since February, could someone explain
what determined the nickel market "entered" a bull market just yesterday?
In our opinion, the odds of the world trying to disrupt nickel supply by
banning imports of Russian nickel, is not only unlikely, but not practical.
But for metal analysts, who work for companies who make money by the volatility
of the metals the are analyzing, it sure sounds good.
Average price of cash nickel so far this month - $7.01/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
JPMorgan to sell commodities business to Mercuria - WSJ -
more
China March steel prices at 8-year low after production surge - CISA -
more
Stainless Steel Production Reaches 38.1 Million Metric Tons In 2013 - The
International Stainless Steel Forum (ISSF) has released preliminary figures
for 2013 showing that stainless steel melt shop production increased by 7.8%
to 38.1 million metric tons (mmt). With the exception of Western Europe and
Africa, all regions achieved positive growth. -
more
Nickel
reaches a near-year high - Nickel has closed at is highest price in almost
a year on the London Metal Exchange (LME), after moving into a bull market
amid persistent concerns over supply of the metal to the market. -
more
Allegheny Press
Release - Effective with shipments beginning on March 31, 2014, ATI Allegheny
Ludlum is increasing base-selling prices for all 200 series grades, 300 series
grades, and ATI 430. alloy in the following product categories: *Cold-rolled
sheet, strip, and Precision Rolled StripR Products * Cold-rolled tubular
quality sheet and strip This price increase is achieved by reducing the
functional discount by two percentage points. Additionally, base-selling
prices for all Emission Control Alloys will increase by $0.02/lb. This action
is necessary to support continued growth and investment in our business.
Sulawesi
Mining to spend $1.04b more on smelter development - Sulawesi Mining Investment,
a joint Indonesia-China venture, aims to kick off the second phase of its
smelter construction project in the second quarter of this year with a price
tag of around US$1.04 billion. -
more
Market Reacts
at Last to Nickel Price Rise - The LME nickel price is rising close to $7
per pound, and customers having been suspicious seem to begin to react to
it at long last. -
more
Courtesy AISI
- In the week ending March 15, 2014, domestic raw steel production was 1,828,000
net tons while the capability utilization rate was 76.0 percent. Production
was 1,827,000 net tons in the week ending March 15, 2013, while the capability
utilization then was 76.2 percent. The current week production represents
a 0.1 percent increase from the same period in the previous year. Production
for the week ending March 15, 2014 is down 0.7 percent from the previous
week ending March 8, 2014 when production was 1,840,000 net tons and the
rate of capability utilization was 76.5 percent.
Greens
Move for Senate Inquiry on Great Barrier Reef (Australia) - The Australian
Greens are moving for a Senate Inquiry into the management of the Great Barrier
Reef and are calling on the other parties to support the inquiry. -
more
Ramu Nico
silent over gas leakage in Basmuk, Madang - A prominent landowner from Basamuk,
Terry Kuning, has been seeking avenues to publicise what appears to be a
threatening pollution issue from the nearby refinery site owned by Ramu Nico
in Madang Province. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, March 18
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
$7.23/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.09/lb
higher, with other
London traded base metals trading mostly higher, but quieter than nickel.
Stockpiles of nickel stored in LME approved warehouses rose on Monday and
now total just under the 270,950 tonne level. Nickel is trading over the
$16,000/tonne threshold this morning, for the first time since April of last
year. The media is now classifying nickel in a bull market, making us wonder
where they have been the last few weeks. Nickel is now selling for $1/lb
more than it was just six weeks ago. We like the statement made by CBC quoted
below "Analysts have credited the recent upswing in nickel prices to Vladimir
Putin's policies towards Ukraine." Once again, traders are confounding those
who are paid to explain the unexplainable and thus, this weeks reasoning
gives us, a potential ban on Russian nickel for its country's actions in
Crimea could cause a shortage down the road. What?? Our advise would be to
enjoy the ride, or dread the ride - but quit trying to explain it.
Average price of cash nickel so far this month - $6.98/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(CBC) Mining companies in Sudbury are watching the news out of Russia very
carefully this week. Analysts have credited the recent upswing in nickel
prices to Vladimir Putin's policies towards Ukraine. There has been speculation
the Russian nickel industry could be targeted for sanctions by Canada and
the United States. This uncertainty about global supply lead to an eleven
month high in the nickel price last week.
(Reuters) China's refined copper output in the first two months of 2014 rose
6.57 percent from the same period a year earlier as smelters continued to
expand capacity..... Production of nickel rose 9.8 percent year-on-year to
46,295 tonnes in the first two months and of tin surged 14.01 percent to
23,812 tonnes.
China March steel prices at 8-year low after production surge - CISA -
more
(China) Steel mills caught in credit squeeze -
more
Nickel
Heads for Bull Market as Russia Clouds Supply Outlook - Nickel headed for
a bull market in London amid concern supplies may run short after Indonesia
barred ore exports and western nations imposed sanctions on Russian officials.
-
more
World
Bank scornful of Indonesia’s mineral ore ban - The World Bank delivered
a blunt assessment of Indonesia’s ban on mineral ore exports on Tuesday,
warning that it would hit trade and government revenue and risked undermining
already weak investor sentiment towards Southeast Asia’s biggest economy.
-
more
Australian
nickel processor eyes Indonesian ore piles - At a small plant on the outskirts
of Perth, metallurgists have been turning raw ore shipped from top Indonesian
nickel miner PT Aneka Tambang (Antam) into a concentrate to meet the country's
new export guidelines. -
more
Stainless
steel consumption in Russia rise 6.2% in 2013 - According to SpetsStal, the
volume of stainless steel consumption in Russia rose 6.2% to 383.9 thousand
tons in 2013 on 2012. -
more
U.S. Export
of Nickel Scrap in January 2014 - According to the statistics announced by
the U. S. Department of Commerce, the export result of nickel scrap in January
2014 was 2,290 tons, up by 12.1% from 2,043 tons of the prior month. -
more
Slow Growth
Continues in February - Year-over-year growth picked up slightly in the United
States for both steel and aluminum. Canadian steel shipments declined, but
at half the rate as in January. Canadian aluminum shipments continued flat
in February. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, March 17
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
$7.16/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.11/lb
higher, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
approved warehouses fell on Friday and ended the week with just over 270,800
tonnes. Nickel continues its bull run, after taking a breather on Friday.
Crimea voted to secede from Ukraine and join Russia on Sunday. On the other
side of the world the Malaysia prime minister reported missing Flight 370
was most likely a victim of an intentional act. The US Dow is coming off
a negative week, and traders will be looking for a rebound.
Average price of cash nickel so far this month - $6.96/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Chinese steel product exports dropped 29% in February, says customs data
-
more
Tokyo Steel maintains product prices for April, sees bright demand outlook
-
more
Russian industry minister says favours state support to Mechel -
more
World Bank, EU to follow IMF and resume Madagascar support -
more
AK Steel Announces
Stainless Steel Price Increase - AK Steel said today that the company will
increase prices for all of its stainless steel products, effective with shipments
on April 1, 2014. -
more
Production
of Stainless Crude Steel in Europe in CY2013 About 7.15 Mil. Tons =Down by
4% from prior year, and demand in 2014 is anticipated to be up by 3 - 4%=
The production volume of stainless crude steel in Europe in the calendar
year 2013 (January - December) was about 7.15 million tons, down by 4.0%
from 7.45 million tons of the prior year. -
more
China’s
debt crisis to hit industrial metals - Investors in vital industrial metals
such as copper and iron ore will have their nerves tested again this week
after China’s unfolding debt crisis caused volatility on commodity markets.
-
more
Ramu mine
owners remain silent over mystery explosion and ‘unknown gas’ leak
- A prominent landowner from Basamuk; Terry Kuning has been seeking avenues
to publicize what appears to be a threatening pollution issue from the nearby
refinery site owned by Chinese mining company MCC in Madang Province. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, March 14
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
$7.16/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LMe approved warehouses rose to a near record high yesterday and
ended just over the 271,000 tonne level. While traders bail on worldwide
equity markets, and commodities, for the most part, suffered a rough week,
nickel has risen to traded prices not seen for 11 months. World markets are
finally reacting to the Ukraine-Crimea stand off. And more importantly to
base metals, when state owned China Daily starts a lead article with 'The
rapid deceleration of China's economic growth indicators in the year's first
two months shocked the market, as industrial output, fixed-asset investment
and retail sales all dropped to unusual lows.', you know world markets will
react. And while all of this information would typically have a similar negative
impact on nickel as it is having on other base metals, nickel is on a bull
run caused by speculation on what effect the Indonesia ore export ban will
have on China. Nickel broke into the $7/lb trading level this week and so
far, is giving very little evidence that it might surrender this level anytime
soon. For stainless steel producers and users, it has been a rough week.
Enjoy your weekend, because the short term trend is pointing to rougher times
ahead.
Average price of cash nickel so far this month - $6.94/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
SSY - According to data from the National Bureau of Statistics, Chinese crude
steel production for January and February 2014 combined totalled 130.8 Mt,
marking a gain on the same period in 2013. This total is in sharp contrast
to World Steel Association output data for China in January 2014, which indicated
a year-on-year decline in crude steel production of 2.0 Mt, to 61.6 Mt.
US steel sheet producers reportedly close to increase -
more
(China) Jan, Feb figures show chill in economy -
more
North American
Stainless Notice - Effective with shipments April 1, 2014; North American
Stainless will increase prices for all Cold Roll grades in 200, 300, and
430 series. This will be achieved by reducing the discount by 2% points.
In addition, Automotive grade prices will increase by $ 40.00/ton. These
increases are necessary to support further investment in our business. All
applicable surcharges will remain in effect, as outlined on our company website.
HKEx named
as co-defendant in LME aluminium lawsuits - Hong Kong Exchanges and Clearing
Ltd said on Friday it had been named a co-defendant in class action lawsuits
involving the price fixing of aluminium on the London Metal Exchange (LME).
-
more
China
offers to help Zimbabwe build refinery - China was willing to help Zimbabwe
establish its first platinum refinery as the African nation attempts to boost
its economy by processing the precious metal rather than exporting semi-processed
ore, China’s ambassador to Zimbabwe said yesterday. -
more
Indonesia's
Crippling Mineral Export Tax To Stay - Despite a stop on exports and reports
of reduced production by the country's largest mining companies, the Indonesian
Government is insisting that it will maintain its export tax on mineral
concentrates. -
more
New
POSCO CEO says to shun major investments, shed non-core assets - POSCO's
new chief executive said the South Korean steelmaker will sell non-core assets
and list some affiliates to shore up its balance sheet, shying away from
major new investments in a marked break from his predecessor's strategy.
-
more
Despite EPA's
concerns, PolyMet mining project gets 'passing grade' - While the federal
Environmental Protection Agency has lingering concerns about potential impacts
from a proposed copper-nickel mining operation in northern Minnesota, the
agency boosted the project's environmental review rating Thursday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, March 13
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
$7.11/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
higher with other London
traded base metals trading mostly lower. Stockpiles of nickel stored in LME
warehouses rose on Wednesday and ended the day holding just over 270,600
tonnes of nickel. Nickel continues its bullish run that began on January
10th, and kicked into high gear on the 27th of February. Technical signals
continue to send overbought warnings, but while traders bail out of other
base metals, they are pouring money into nickel. Cancelled warrants continue
to climb, with totals well over what total stockpiles were just a few years
ago. Nickel is on a roll right now, and while everyone wants to explain why,
there are no real answers. Bull runs tend to feed on themselves once they
get started and reasoning matters little. As a trader, you ride the wave
and make as much from the run as you can. You really don't care why. You
only care that you time your entrance and exit properly. The rest of us,
caught in the wave, just try to catch our breath.
Average price of cash nickel so far this month - $6.91/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
CITT initiates expiry review on certain fasteners -
more
Fastener Supply Chain Disruption to Impact NTD30 Billion Production Value
-
more
Chinese physical
market starts to give some credence to the LME Nickel price rally: Barclays
- Rising Chinese ore prices have already contributed to an increase in average
NPI RKEF production costs to almost $1000 a ton. -
more
Govt
defends export ban despite legal challenge - The government has strongly
defended its regulation allowing only exports of processed mineral products
that came into effect earlier this year, saying that the policy was stipulated
by the Mining Law. -
more
Dominican Rep. court deals Xstrata Nickel mine a major setback - The Superior
Arbitration Court (TSA) on Wednesday ordered all government agencies to immediate
halt any effort or authorization involving mining at Loma Miranda. -
more
Stainless
Crude Steel Production by Major SUS Mills in Jan. 310,886 Tons =Down by 2.9%
from prior month and NSSMC, Yawata Works and JFE, Chiba Works curtail production=
The stainless crude steel production by 7 major stainless steel mills in
January 2014 was 310,886 tons, down by 2.9% from 320,008 tons of the prior
month. -
more
Leading Chinese
steelmakers cut scrap purchase prices on iron ore slump - Chinese steelmakers
cut their scrap purchase prices steadily this week, following the downward
trend in futures and steelmaking raw materials markets, led by Shagang Group,
the country's largest scrap consumer in eastern China's Jiangsu province.
-
more
Minnesota pollution
agency: More study needed on sulfate standard change to protect wild rice
- The Minnesota Pollution Control Agency said Wednesday that more data analysis
must be done to determine whether it will recommend changes to the state's
water quality standards to protect wild rice from sulfates. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, March 12
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
$7.03/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stored in LME
approved warehouses fell for a second consecutive session, and now total
just under the 269,300 tonne level. Once again, nickel is bucking the
trend and trading higher. On the other hand, copper is trading near a four
year low. Commodities, along with equities, are generally down this morning.
Asian markets ended lower, European markets are trading lower, and US Dow
futures are lower as well.
Average price of cash nickel so far this month - $6.88/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel
Pioneer Shut Out as China Cuts Back Smokestacks - In just eight years, burning
mineral-laden dirt to make nickel pig iron has gone from a prized business
that revolutionized the steel industry to a target in China’s self-declared
war on pollution. -
more
Rising
freight cost to price out chrome exports - The export of raw chrome to China,
predominantly by South Africa’s platinum producers, was heavily criticised
two years ago. -
more
Chrome export tariff put on ice - The push by ferrochrome producers in South
Africa for the state to impose a tariff on exports of chrome ore appear to
have receded‚ with talks between the sector and the government about
curtailing the flow fizzling out. -
more
SA continues to slide in ferrochrome stakes - South Africa's share of the
world ferrochrome market shrank further in 2013 despite efforts by the industry
to have the country's government consider protective trade measures. -
more
Rising
chrome-ore demand pressures Zimbabwe to lift export ban - Zimbabwe is facing
“huge” external demand for chrome ore, renewing pressure on the
government to relax a law that bans exports of the unprocessed material,
Mines Minister Walter Chidakwa said. -
more
Female camp
employees used as sex workers at Ramu mine - Women employed at the remote
Ramu nickel mine site to provide basic services such as laundering, cooking
and cleaning for the mine staff are also being used as sex workers. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, March 11
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
$7.02/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.13/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell off Friday's record high and now totals just
over the 270,700 tonne level. Nickel's 'running of the bulls' continues,
with nickel the sole gainer yesterday, but trading much higher today as other
metals trade higher. Yesterday, nickel gained against a stronger Euro, today
it is trading against a higher Euro. Yesterday's nickel stockpiles reached
record high levels, while nickel traded at nine months high. In other words,
we are witnessing a bull market feeding on itself, and not exactly following
any outside technical or fundamental signals. We have seen this numerous
times, although over the past few years, the market has been very subdued
and shy on volatility. We have also learned that moves like this are impossible
to explain and while we all like to put a reason to every action, the
ban in Indonesia ore back in January is not solely responsible for this run.
Average price of cash nickel so far this month - $6.85/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Chinese daily crude steel output for the period 21-28 February 2014
was 1.804 Mt, down from 1.966 Mt in the preceding ten days, according to
the China Iron and Steel Association. This is the lowest rate since late
February 2012.
Miners: Iron ore hit by China squeeze, stockpiles -
more
Truck driver strike at Vancouver port picks up steam -
more
NFIB Small Business Economic Trends, March 2014 -
more
Warming tropical Pacific increases chance of El Niño from winter -
more
Stainless
steel output rose 11.4% in Russia - According to SpetsStal's appraisal, Russia's
output of stainless steel in 2013, compared with 2012, rose 11.4% to 114,195
tons. -
more
China's steel
sector facing tough times - Daily Times reported that no sector of the Chinese
economy better mirrors the policy dilemmas facing the country's rulers than
steel. -
more
Turkish
stainless steel flat imports soared 40% in Jan: TUIK - The imports of stainless
steel flat products by Turkey jumped significantly higher during the month
of January. According to recent data released by Turkish Statistical Institute
(TUIK), the country’s imports during January this year totaled 40,812
tons. -
more
Ever more
thirsty - In recent years, it has become normal for officials from cities
along the Yellow River to pay frequent visits to the Yellow River Conservancy
Commission (YRCC) in Zhengzhou, Central China's Henan Province. -
more
Courtesy AISI
- In the week ending March 8, 2014, domestic raw steel production was 1,840,000
net tons while the capability utilization rate was 76.5 percent. Production
was 1,827,000 net tons in the week ending March 8, 2013, while the capability
utilization then was 76.2 percent. The current week production represents
a 0.7 percent increase from the same period in the previous year. Production
for the week ending March 8, 2014 is down 1.1 percent from the previous week
ending March 1, 2014 when production was 1,861,000 net tons and the rate
of capability utilization was 77.4 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, March 10
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
$6.92/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
lower, with most
other London traded base metals trading lower as well. Stockpiles of nickel
stored in LME approved warehouses rose to a new record high on Friday and
totaled 271,200 tonnes. Commodities are down this morning after a Chinese
report show exports fell in February and took analysts by surprise. Chinese
metals analysts polled this weekend are forecasting nearly 2 out of 3, that
the price of nickel will fall this week. Technically, stochastics numbers
show nickel is still seriously overbought. Could be an interesting week ahead.
Average price of cash nickel so far this month - $6.84/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
As to March
Price of Ni SUS Scrap, Respective Mills to Watch Situation =Supply of spot
goods becomes tight due to increased production and difficult cargo collection
by snow damage= The price of nickel-containing stainless steel scrap (SABOT)
to be purchased by Japanese stainless steel mills in March 2014 has been
put in a strong anticipation of price increase based on the increased demand
and tightness in supply of spot goods. -
more
Nickel:
From surplus to deficit - The world nickel market has been characterised
by oversupply for a protracted period of time. But there are indications
that the market could be turning; 2014 will likely witness tightening of
supplies with moderating production and rising consumption. -
more
Suspected
NPA rebels burn nickel firm’s dump trucks - Suspected New People’s
Army rebels burned two dump trucks working for a nickel mining company operating
in the town of Sofronio Española, southern Palawan Sunday night, police
said Monday morning. -
more
The Minnesotan's
guide to PolyMet's top 10 favorite talking points - Public debate on the
nonferrous mining issue in Minnesota is heated, and will continue to be.
-
more
BHP workers
brace for uncertainty - Nickel West workers are bracing for a year of uncertainty
as mining giant BHP Billiton embarks on a formal campaign to sell the
underperforming mining and processing wing. -
more
Ramu NiCo
owners meet - Stakeholders of the Ramu NiCo project in Madang had their first
meeting recently for this year after the signing of the revised memorandum
of agreement (MoA) last December. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, March 7
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
$7.04/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose, and now total just over the 270,600 tonne
level, shy of record territory. Nickel closed above the $7/lb level yesterday
for the first time since April 29th of 2013. While nickel is down today,
we show the next line of resistance at $7.14/lb. A Stochastic reading of
100 this morning sends a technical warning signal to the market of a seriously
overbought situation. Metals are lower this morning, even though the Euro
is stronger. Some of this could be due to the geopolitical situation in Ukraine,
some of it might be due to a solar company in China causing some credit concerns,
or it could simply be traders taking a breather before the all important
US employment report is issued this morning. Whatever is causing the break,
volatility has returned to the nickel industry. Have a safe and relaxing
weekend.
Average price of cash nickel so far this month - $6.82/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Reuters - Nickel held near nine-month highs on Friday, heading for a seventh
session of gains in what would be its longest rally since October 2010, with
global supply tightened by Indonesia's ban on ore exports.
Aging El Nino Buoys Get Fixed as Weather Forecasts at Risk -
more
Import of
Stainless Steel Scrap in January 2014 - The import statistics prepared by
the Ministry of Finance shows the import of stainless steel scrap in January
2014 by country in Table 1 and by discharge port in Table 2 respectively.
-
more
China's Hebei
province to shut more steel capacity if conditions allow - China's top steel
producing province Hebei will shut more outdated steel capacity this year
if market conditions allow, the governor said on Friday, adding that more
than 10 percent of the province's steel companies were in dire straits. -
more
Implats
still seeing growth in Zim - Despite all its economic drawbacks, Zimbabwe
still offers Impala Platinum (Implats) its most attractive growth prospects
as the group’s mainstream operations in South Africa are hammered by
the strike organised by the Association of Mineworkers and Construction Union.
-
more
Ramu NiCo
execs in Madang - A Chinese delegation visited the Ramu NiCo project in Madang
recently to look into the investment environment and challenges the nickel
mine faced. -
more
New record
for WA resources sector - WA's resources sector reached a new record value
of $113.8 billion during 2013, breaking the previous record of $108 billion
set in 2011. -
more
Chrome
exports invoicing scam unearthed at MMCZ - Government might have been prejudiced
of millions of dollars after the Minerals Marketing Corporation of Zimbabwe
(MMCZ) failed to invoice close to 500 000 tonnes of ferro-chrome exported
via Beira and Maputo. -
more
Mining
Minnesota’s Canoe Country - A mining company has set its sights on northern
Minnesota's fabled canoe country. -
more
Mining’s top ten billionaires for 2014 - The rich are getting richer.
Forbes has put together a new list of the richest people on the planet, which
now includes 1645 billionaires. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, March 6
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
$6.92/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.08/lb
higher, with other
London traded base metals mixed and mostly lower. Stockpiles of nickel stored
in LME approved warehouses took a big hit yesterday, and now total just over
the 269,350 tonne level. Nickel is rising so fast, that its breaking thru
technical points before they can be identified. Right now we show the next
resistance point at $6.92/lb, where we closed yesterday. And at the moment,
we are trading above that level. In fact, we are nearing the $7/lb level,
a level nickel hasn't traded at since last April. Shanghai nickel (SHMET)
is trading lower than it was this time last month, which may explain why
China stainless steel prices only yesterday, stopped falling. India nickel
is trading higher than it was this time last year. The word of the month
so far - nickel volatility, the curse of the stainless steel industry.
Average price of cash nickel so far this month - $6.75/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Yieh) According to the related statistics, China imported 925,470 tons of
chrome ore in January, down by 8.7 from the last month.
Rising imports could spoil party for Japanese steelmakers -
more
Taiwan Fastener Industry Threatened by Closes of Electroplating Plants -
more
Global
stainless steel demand climbed 4.5% in 2013: BIR - According to the latest
Stainless Steel & Special Alloys World Mirror released by the Bureau
of International Recycling (BIR), the global demand for stainless steel recorded
a jump of over 4.5% in 2103. -
more
North American
Stainless Press Release - For the month of March 2014, North American Stainless
will increase the fuel surcharge to 34% for stainless flat and long products.
The surcharge rate is considered a maximum level for March and will be reviewed
monthly.
'China factor' continues to determine future of commodities outlook
- Chinese demand for metals and minerals remains robust, although the pace
of uptake is moving towards a plateau as the country enters a more mature
economic phase, delegates at the Prospectors and Developers Association of
Canada were told on Sunday. -
more
China
Ferrochrome: Domestic market eases after steelmakers cut purchase prices
- Domestic spot prices of high carbon ferrochrome (50% basis Cr) in China
eased to Yuan 6,700-6,900/mt (83-85 cents/lb) Wednesday -- from Yuan
6,750-6,900/mt a week ago -- delivered with 17% value-added tax, after major
stainless steelmakers in the country cut their March purchase prices last
week. -
more
BHP mulls
nickel sale as price hits 9-month high - Indonesia’s proposed ban on
ore exports has pushed nickel prices to a nine-month high, as Glencore Xstrata
thinks about buying BHP’s Nickel West operation. -
more
Stainless
steel by Ida Dental, Working at Indian Dental Academy -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, March 5
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
$6.86/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell for a second day on Tuesday and now total
just over the 270,350 tonne level. If your a technical trader, then the market
is sending a strong buy signal with a second close above resistance yesterday.
The RSI is only now moving into overbought territory, while the Stochastic
reads strongly overbought. Nickel is trading at levels we have not seen since
June of last year, so it shard to now when this 'running of the bulls' might
falter. Bloomberg captures the nature of the beast very well this morning
with a lead story headline 'Market screaming ‘buy’, with upside
breakout'. And while the article is focused on US equity markets, the sentiment
rests with commodities as well. We typically see a strong bounce after China
returns from their week long Chinese holiday, and this could be a delayed
reaction to that. Nickel is also keeping its momentum this year, when others
have faltered, with the affect of the Indonesia nickel ore ban on China,
yet to be determined. Our China stainless steel price index moved higher
overnight.
Average price of cash nickel so far this month - $6.65/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Mexico Cracks Down on Illegal Iron Ore Mining -
more
Taiwan Fastener Industry Faces Shipment Delay Due to Electroplating Plants
Stoppage -
more
Russia's
stainless steel exports on the rise - According to an expert appraisal by
SpetsStal, Russia's exports of stainless steel products in January 2014,
compared with the equal period in 2013, rose 51.3% to 731 tons. -
more
China likely
to see imported iron ore prices fall on lower demand, supply glut - China's
annual average price for imported iron ore is expected to drop to $110-125/mt
in 2014 from $129/mt lat year due to increased supply and slower growth in
demand from steel mills, speakers at an industry conference in Wuxi said
earlier this month. -
more
Courtesy AISI
- In the week ending March 1, 2014, domestic raw steel production was 1,861,000
net tons while the capability utilization rate was 77.4 percent. Production
was 1,875,000 net tons in the week ending March 1, 2013, while the capability
utilization then was 78.3 percent. The current week production represents
a 0.7 percent decrease from the same period in the previous year. Production
for the week ending March 1, 2014 is up 1.6 percent from the previous week
ending February 22, 2014 when production was 1,831,000 net tons and the rate
of capability utilization was 76.3 percent.
Comment period
for copper-nickel mine closes March 13 - The 90-day public comment period
for the NorthMet Mining Project and Land Exchange Supplemental Draft
Environmental Impact Statement will end March 13, according to the Minnesota
Department of Natural Resources. So far, the agency has received more than
19,000 comments. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, March 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.67/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses slipped off yesterday's record high and now totals
just under the 270,950 tonne level. According to the figures we are seeing,
nickel broke thur major resistance yesterday at $6.64/lb and a second close
above that level today. could send a strong technical signal, that further
increases in the traded price are ahead. A Chinese weekly poll show 52.1%
of metal analysts there forecasted a decrease in the traded price of nickel
this week, while 45.2% forecast an increase.
Average price of cash nickel so far this month - $6.58/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Glencore
to Study BHP Australian Nickel Assets, CEO Says - Glencore Xstrata Plc, the
global commodity trader and metals producer run by billionaire Ivan Glasenberg,
said it will study the sale of BHP Billiton Ltd.’s Australian nickel
assets. -
more
Stainless
Steel Market Slow To Recover - MEPS’ recent reviews of the global stainless
steel market have revealed a mood of cautious optimism - a belief that the
bottom of the business cycle had been passed and that sales volumes and prices
would start to increase, albeit steadily, this year. While that belief persists,
there is little empirical evidence, as yet, to suggest that a recovery is
under way. -
more
Vale back
at work on Ontario nickel project - Vale SA's Canadian unit has resumed work
on its Copper Cliff Deep nickel project in the Sudbury basin and expects
to complete a feasibility study by the end of the year, a company executive
said on Monday. -
more
Present
Situation on Indonesia's Ore Export Ban =Review on tax rate may come
up. Japanese government decides to bring before WTO= As to the ore export
ban the Government of Indonesia enforced on January 12, the Government of
this country eased the regulations for the export ban on 6 kinds of ore (copper,
iron, lead, zinc, manganese and titanium) subject to payment of special tax,
and decided to put off the enforcement till 2017. -
more
Indonesia developing local processing industry - A move by Indonesia to limit
its raw minerals exports could hasten the development of a local processing
industry, but the strategy has downside risks as buyers look to alternative
sources. -
more
Production falls, use rises slightly in Q3 2013 - Global use of molybdenum
in the third quarter of 2013 was 134.1 million pounds, up just over 1% from
132.2 million pounds in the previous quarter, figures released today by the
International Molybdenum Association (IMOA) show. -
more
Dominican Republic Xstrata Nickel mine foes dig in for long fight -
While senior Government hint at a possible Xstrata Nickel mine at Loma Miranda,
environmentalists seem to be digging in for a long siege to demand its
designation as a National Park. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, March 3
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
$6.54/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower a well. Stockpiles of nickel stored
in LME approved warehouses rose on Friday and ended February at a record
high of 271,128 tonnes, a gain of 5,130 tonnes for the month. Markets are
lower today, primarily due to the political instability and Russian intervention
in Ukraine. A fall in the China PMI is also hurting base metals trades.
Average price of cash nickel so far this month - N/A
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) According to data from the China Iron and Steel Association, Chinese
daily crude steel output for 11-20 February 2014 was 1.966 Mt, down from
2.066 in the first 10 days of February.
(SO) China’s steel sector PMI declines to 39.9% in February
(China) Feb manufacturing PMI drops to 50.2 -
more
Nickel
gets its mojo on - The rise and rise of nickel continued on Friday where
it touched US$14,720 a tonne before closing at US$14,540. -
more
Norilsk
Seen Best-Placed of Russian Miners Amid Ukraine Crisis - OAO GMK Norilsk
Nickel, Russia’s largest mining company, may be the least affected among
its peers by the Ukraine crisis because of its dominant position in global
nickel and palladium supplies and financial strength. -
more
Forging Ahead: Global Metals Deals 2014 outlook and 2013 review - We open
our latest Forging Ahead report with a discussion of the outlook for the
year ahead and identify some of the main themes we expect to be at work.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
Reports
Commodity/Economic Comments
Nickel Set for Biggest Quarterly Gain Since 2010 on Supply View - Nickel
rose in London, set for the biggest quarterly advance since 2010, amid concern
supplies will be constrained. Copper headed for the largest quarterly drop
since June. -
China stainless
steel production accounted for half of the global total in 2013, industry
report - According to the Steel Market Intelligence GmbH (SMI) on 2013, global
stainless steel output was 40000000 tons, and China production reached 20500000
tons. The report said Chinese output rose 17% last year. -
LME warehousing
throws up roadblock for Charles Li - Earlier this month, the chief executive
of Hong Kong Exchanges and Clearing , Charles Li, was eager to talk about
anything but the years-long warehousing crisis at the London Metal Exchange.
-
Mick
Davis is cash heavy and hunting for mining deals – maybe in Canada -
The new company set up by Mick Davis and other former Xstrata executives,
X2 Resources, has raised $2.5-billion (U.S.) in funds and is set to buy mining
assets in the belief that the commodities cycle is set for a revival. -
FQM to put
$100m in new nickel project - First Quantum Minerals (FQM) says it will invest
US$100 million in its proposed nickel mine project in Kalumbila, which is
located west of Solwezi. -
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.06/lb
Stars
Aligned for Nickel Bull Market - Russian President Vladimir Putin’s
actions have certainly stirred the pot in the energy market, as our Investment
Director, Karim Rahemtulla, recently pointed out. -
MCC says
Ramu mine production loss ‘huge’ - The financer and major stakeholder
in the Ramu NiCo project, the MCC Group, wanted Ramu NiCo Management (MCC)
Ltd to hit the 70% production capacity this year while aiming at 80%. -
Zimbabwe:
'BNC Can Process Platinum Metals' - Bindura Nickel Corporation could turn
its smelter and refinery into precious metals refinery with a few modifications
and refurbishment, managing director Mr Batirai Manhando said. -
First Nations,
Ontario reach Ring of Fire framework deal - The Ontario government and the
nine communities of the Matawa First Nations have negotiated a
“milestone” framework agreement on how to move forward with mineral
and community development in the Ring of Fire. -
Why Nickel
May Be Just Beginning a Major Price Breakout Move - Governments around the
world especially in the emerging economies are now beginning to worry about
inflation and currency devaluation. -
Chin: Nickel
Mine Lacks Transparency - Chin civic groups and politicians have demanded
full public disclosure of the scope and impact of the Mwe Taung nickel mine,
fearing that the environmental and social impacts may be far more severe
than current data predicts. -
Courtesy AISI
- In the week ending March 22, 2014, domestic raw steel production was 1,885,000
net tons while the capability utilization rate was 78.4 percent. Production
was 1,827,000 net tons in the week ending March 22, 2013, while the capability
utilization then was 76.2 percent. The current week production represents
a 0.1 percent increase from the same period in the previous year. Production
for the week ending March 22, 2014 is up 3.2 percent from the previous week
ending March 15, 2014 when production was 1,828,000 net tons and the rate
of capability utilization was 76.0 percent.
Russia's
leading role in the Indonesian mining revolution - Russia's two metal giants
have emerged as big winners from Indonesia's new mining law, after leading
a drive to get Jakarta to stick to its controversial mineral ore export ban
in the face of opposition from miners and Asian buyers. -
Nickel price
on the rise, but Cuba has limited benefits - After a three-year decline,
world nickel prices are on the rise again, providing respite for cash-strapped
Cuba. -
South
Africa's Xstrata, Japan's NSSC begin talks for Q2 ferrochrome term deals
- Negotiations between South Africa's Xstrata Alloys and Japan's Nippon Steel
& Sumikin Stainless Steel Corp. for ferrochrome contracts for the second
quarter of 2014 started last week, one of the participants in the negotiations
said Tuesday -
Indonesia
ready to face Japan`s complaints at WTO - Indonesia is ready in the event
that Japan decides to file a complaint at the World Trade Organization, with
regard to the implementation of the countrys law on minerals and coal mining.
-
February
2014 crude steel production - World crude steel production for the 65 countries
reporting to the World Steel Association (worldsteel) was 125 million tonnes
(Mt) in February 2014, an increase of 0.6% compared to February 2013. -
The country’s most radical priest confronts Xstrata Nickel again - Dominican
Republic’s icon radical priest Rogelio Cruz for the second time in as
many months leads a protest Wednesday morning which snarls traffic on the
Duarte highway near Loma Miranda, to demand that the Government declare it
a National Park. -
, with other London
traded base metals trading lower. LME licensed warehouses have apparently
not received the memo yet that the market is fearful of nickel deficits on
the horizon, and stockpiles broke a new all time record high overnight, with
a total of 271,296 tonnes. Nickel official prices closed over the $16,000
tonne mark for the first time since April last year. Also, worth noting that
the 'average' official cash price for March is now over $7.00/lb. Here is
yesterday's reasoning for the sharp increase in nickel prices from Bloomberg.
"Nickel entered a bull market yesterday on speculation Russian supplies will
be disrupted at a time when some shipments are already banned in Indonesia."
For those of us in the stainless steel industry, who have felt like we have
been running from the bulls of Pamploma since February, could someone explain
what determined the nickel market "entered" a bull market just yesterday?
In our opinion, the odds of the world trying to disrupt nickel supply by
banning imports of Russian nickel, is not only unlikely, but not practical.
But for metal analysts, who work for companies who make money by the volatility
of the metals the are analyzing, it sure sounds good.
Nickel
reaches a near-year high - Nickel has closed at is highest price in almost
a year on the London Metal Exchange (LME), after moving into a bull market
amid persistent concerns over supply of the metal to the market. -
Nickel
Heads for Bull Market as Russia Clouds Supply Outlook - Nickel headed for
a bull market in London amid concern supplies may run short after Indonesia
barred ore exports and western nations imposed sanctions on Russian officials.
-
Stainless
steel consumption in Russia rise 6.2% in 2013 - According to SpetsStal, the
volume of stainless steel consumption in Russia rose 6.2% to 383.9 thousand
tons in 2013 on 2012. -
Production
of Stainless Crude Steel in Europe in CY2013 About 7.15 Mil. Tons =Down by
4% from prior year, and demand in 2014 is anticipated to be up by 3 - 4%=
The production volume of stainless crude steel in Europe in the calendar
year 2013 (January - December) was about 7.15 million tons, down by 4.0%
from 7.45 million tons of the prior year. -
New
POSCO CEO says to shun major investments, shed non-core assets - POSCO's
new chief executive said the South Korean steelmaker will sell non-core assets
and list some affiliates to shore up its balance sheet, shying away from
major new investments in a marked break from his predecessor's strategy.
-
Turkish
stainless steel flat imports soared 40% in Jan: TUIK - The imports of stainless
steel flat products by Turkey jumped significantly higher during the month
of January. According to recent data released by Turkish Statistical Institute
(TUIK), the country’s imports during January this year totaled 40,812
tons. -
Suspected
NPA rebels burn nickel firm’s dump trucks - Suspected New People’s
Army rebels burned two dump trucks working for a nickel mining company operating
in the town of Sofronio Española, southern Palawan Sunday night, police
said Monday morning. -
Stainless
steel by Ida Dental, Working at Indian Dental Academy -
