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

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Stainless Steel News and Prices

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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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper stalls after 2-week high, aluminium gains - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Extends Weekly Gain on China Stimulus Speculation - more
  • Reuters metals morning - London copper set for biggest weekly gain in six months - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.66
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • WSJ metals morning - LME Copper Gains Despite China Demand Fears - more

  Reports

  • 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 Daily Price Index - 79.68
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) According to the latest World Steel Dynamics SteelBenchmarker, the 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.
  • Dr. Copper is waving a red flag - more
  • Where Is China’s Debt Bomb Hiding? - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls From 2-Week High on Concern Chinese Growth Slows - more
  • Reuters metals morning - Copper slips after sharp gains, China stimulus hopes remain - more
  • WSJ metals morning - LME Copper Falls as Investors Cash In On Rally - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Metals - Metals CEOs are more worried about a host of risks. Overall, they’re less confident than any other sector. - 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 Daily Price Index - 79.67
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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.
  • Mines & money, sex, babies and commodities - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Europe Stocks Rebound as Metals Gain; Ruble Strengthens - more
  • Reuters metals morning - London copper hits highest in four sessions; hopes for China stimulus support - more

  Reports

  • Metals Outlook – March 2014 - 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 Daily Price Index - 79.72
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Pre-Feasibility Study confirms economic and technical viability for Araguaia Nickel Project, Brazil - more
  • Horizonte Minerals unveils US$519mln NPV for Araguaia - more
  • (China) Weaker manufacturing PMI may signal policy changes - more
  • El Nino Possibility Seen Increasing by Australia as Ocean Warms - more
  • Increased chance of El Niño in 2014 - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • WSJ metals morning - Copper Stable as China Data Sends Mixed Signals - more
  • Reuters metals morning - Copper cuts losses as stimulus hopes eclipse factory slowdown - more

  Reports

  • AK Steel April Stainless Steel Surcharge - pdf here
  • Oryx Stainless - And the markets are still working - 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 Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Set for Fourth Weekly Decline as Fed Signals Higher Rates - more
  • WSJ metals Morning - LME Copper Stabilizes after Rout; Awaits China Data Next Week - 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 - 79.61
  • 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
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • 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."
  • Sherritt shareholders rap pay levels - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper as Economy Sage Fails as Growth Defies Price Slump - more
  • Reuters metals morning - Copper slides on U.S. interest rate signal, China - more

  Reports

  • 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 Daily Price Index - 79.50
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Rises to 11-Month High on China Ore Stockpiles - more
  • Reuters metals morning - LME Copper Falls as Traders Eye Crimea, Await FOMC Conclusion - more

  Reports

  • 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 Daily Price Index - 79.41
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Europe Shares Drop as Nickel Jumps on Russia Sanctions - more
  • WSJ metals morning - Nickel Enters Bull Market as Supply Fears Persist - 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 Daily Price Index - 79.31
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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
  • BHP pledges $10m for Mozambique farmers - 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Trades Near 2010 Low as China Widens Yuan Trading Band - more
  • WSJ metals morning - Copper Up a Tad as Market Awaits West's Reaction to Crimea Vote - 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 Daily Price Index - 79.26
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • WSJ metals morning - LME Nickel at 11-Month High and Copper Recovers Some Ground - more

  Reports

  • 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 Daily Price Index - 79.20
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • WSJ metals morning - Poor China Data Sends LME Copper Lower Again - more
  • Reuters metals morning - Copper falls as fears intensify over China slowdown - more

  Reports

  • 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 Daily Price Index - 79.21
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Rio Is Beating BHP In The Cost-Cutting Race Between Australia's Mining Giants - more
  • Euro at 2 1/2 year high as China, Ukraine jitters boost safe havens - more
  • Outokumpu Conditions of sale - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Slumps to 44-Month Low on Concern China Demand Is Slowing - more
  • Reuters metals morning - China worries chill markets, copper slumps - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • U.S. Imports of Stainless Steel Mill Products - more
  • 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 Daily Price Index - 79.21
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • First Nickel Positioned to Benefit from Higher Nickel Prices - more
  • Why BHP Billiton plc Is A Top ISA Buy - more

      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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Metals Gain as Asian Stocks Rebound; Swiss Franc Weakens - more
  • Reuters metals morning - Copper eases off 8-mth low, but China worries cap gains - more

  Reports

  • AIIS January Export Press Release - 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 Daily Price Index - 79.18
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Emerging-Market Stocks Decline With Commodities - more
  • Reuters metals morning - Copper at 8-month low on fears China deals could unwind - 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 Daily Price Index - 79.15
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • HKEx: Prepared for Greater RMB Volatility - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - European Stocks Fall as Dollar Drops Before Jobs Data - more

  Reports

  • Damstahl Stainless Steel Report - March 2014 - 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 Daily Price Index - 79.10
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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.
  • England Stolen Metals Alerts - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Declines From 9-Month High as Price Rally Seen Excessive - more

  Reports

  • Japan Monthly Steel Statistics Report - 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 Daily Price Index - 79.06
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Zinc Climbs to One-Year High as China Retains Expansion Target - 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 Daily Price Index - 79.05
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steadies after Russia seen softening on Ukraine - 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 Daily Price Index - 79.00
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 2013 China’s Metal Fastener Output - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Slumps to 3-Month Low as China Factory Data Show Slowdown - more
  • Reuters metals morning - Copper sinks to three-month lows as China weighs - more

  Reports

  • 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 Daily Price Index - 79.06
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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


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