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Tuesday, March 31
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$5.84/lb. Indicators
at 6:45 am CST today show 3 month nickel trading around $.10/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell from record highs on Monday and now total
just over the 433,800 tonne level. Nickel continues to dive and analysts
are once again, scratching their heads and wondering where all the nickel
is coming from. The sky is not falling - yet.
Average price of cash nickel so far this month - $6.26/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Edward Meir 3/30) Nickel fared particularly badly, sinking to $13,260
at one point, the lowest level since November of 2013 and is under pressure
again today, off by some $200/ton and getting to a low of $13,060 at one
point. We suspect that the unresolved LME tax situation with the Malaysian
government -- despite assurances to the contrary -- is likely what is weighing
on the complex, as the concern is that 210,000 tons of metal stored in Johor
will now be sold onto the open market.
Edward Meir of INTL FC Stone puts major technical support for nickel at $5.44/lb
(Twitter) Deutsche Bank cuts 2015 nickel price forecast to $16,575/t ($7.52/lb)
(SSY) Daily crude steel output at China Iron and Steel Association member
mills fell further to 1.65 Mt in the period 11-20 March, according to data
from the industry body reported by SteelFirst.
Japan Fastener Imports and Exports Hit Record High -
more
Recent warming of Pacific Ocean could be early indication of El Niño
- more
LME drops
proposal to stop issuing Malaysia warrants - The London Metal Exchange
said on Monday it has withdrawn its proposal to stop issuing warrants for
metal in Malaysia from July after the government resolved issues over its
new tax reforms. -
more
Higher
returns for stainless steel scrap - Global: As a result of an improvement
in demand from the mills, stainless steel scrap values mounted a recovery
during March. Prices for the 304 grade climbed from US$ 1275-1325 per tonne
in late February to US$ 1340-1390 a month later while the range for 316 material
advanced from US$ 1760-1810 to US$ 1800-1850 over the same period. -
more
China's moly
producers to face another challenging year in 2015 - Chinese producers of
molybdenum concentrate and ferromolybdenum will face yet another challenging
year in 2015 characterized by relatively low prices and steady demand, market
sources said at a molybdenum event in Xiamen at southern China's Fujian province
over the weekend. -
more
Layoffs at
Special Metals affect about 70 - Layoffs believed to affect 70 or more jobs
were announced at the Special Metals plant in Huntington on Monday, and company
officials declined to say whether the reductions were permanent or temporary.
-
more
Chinese-backed smelter plan causes concern among Sulawesi fishermen - As
a pair of Chinese-controlled mining companies proceed with plans to construct
nickel smelters in Indonesia's Central Sulawesi province, in line with a
national edict to increase in-country mineral processing capacity, locals
fear the factories will only intensify environmental degradation from the
same firms' mining operations. -
more
From infrastructure to smelters, C. Sulawesi eyes Rp 20t projects - The Central
Sulawesi regional government aims to realize direct investments totaling
Rp 20 trillion (US$1.53 billion) this year, driven by a number of projects
ranging from infrastructure to smelters. -
more
Courtesy AISI
- In the week ending March 28, 2015, domestic raw steel production was 1,628,000
net tons while the capability utilization rate was 68.9 percent. Production
was 1,868,000 net tons in the week ending March 28, 2014 while the capability
utilization then was 77.7 percent. The current week production represents
a 12.8 percent decrease from the same period in the previous year. Production
for the week ending March 28, 2015 is down 0.7 percent from the previous
week ending March 21, 2015 when production was 1,639,000 net tons and the
rate of capability utilization was 69.3 percent.
Ramu mine
suffers as Mother Nature bites back - Dumping millions of tonnes of toxic
waste into a pristine marine environment was bound to have consequences.
Maybe severe rains and flooding was not what was expected – but Mother
Nature moves in mysterious way. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, March 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.03/lb. Indicators
at 6:45 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals trading mixed and mostly higher. Stockpiles of
nickel stored in LME approved warehouses rose to a new all time record high
on Friday, and now totals 435,048 tonnes. After setting a new record high
on 14 sessions in January, a new record was only set on 3 sessions in February.
After Friday's gain, we have seen 7 records set so far in March. Shanghai
Metal Markets reports stockpiles of nickel ore fell by 48,000 tonnes last
week, and not total 11.15 million tonnes. These stockpiles numbers, while
lower, have remained in the 11 million tonne range since the first week of
February. We closed once below strong support of $6.15/lb and it appears,
we will see second close below this level again today. This typically sends
a bearish signal to the market, but we are not really sure how much lower
traders will let nickel fall. Next technical support level is at $5.94/lb.
Traders have one more day to square their books, and we start the second
quarter of the year on Wednesday.
Average price of cash nickel so far this month - $6.28/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China faces renewal of EU fastener tariffs challenged at WTO -
more
EU Extends Anti-dumping Measures for Another 5 Years on Iron and Steel Fasteners
Originating in China -
more
Bauxite
and the limits of resource nationalism: Andy Home - It's been over a year
now since Indonesia imposed its ban on the export of unprocessed minerals.
-
more
Ambatovy
Nickel Project Achieves 90% of Full Production = 6 certificates for completion
are achieved and remaining 4 certificates are targeted at being achieved
by end Sept. = The production volume of nickel unwrought from Ambatovy Nickel
Project in Madagascar driven by Sumitomo Corporation jointly with Sherritt
International Corporation, Korea Resources Corporation and SNC Lavalin Inc.
achieved an average of 90% of full production for a period of 90 days. Sumitomo
announced the above on March 24. -
more
Stainless
Steel Fabricators in Perth Provide Guide to How Stainless Steel is Made -
For those who have ever wondered how stainless steel is made, a stainless
steel manufacturer in WA has produced a very short guide describing the process
in simple terms. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, March 27
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.18/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.10/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses rose on Thursday and now total just under
the 433,400 tonne level. Nickel is trading below a technical support level,
and two closes below $6.15/lb, could send a technical signal of further price
declines. Have a safe and enjoyable weekend.
Average price of cash nickel so far this month - $6.29/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MP) China ferro-nickel imports up 74.04pc in January 2015
China's industrial profits down 4.2% for Jan-Feb -
more
Macquarie Reaffirms Outperform Rating for BHP Billiton plc -
more
China’s Fastener Imports and Exports for Jan.-Feb. -
more
LME Base
Metals Finished Mostly Higher - The London Metal Exchange (LME) has started
talking to the main Bullion trading banks about reinstating end-of-day Gold
and Silver forward curves, which could be part of a bigger structural change
in the precious metals market. -
more
Shanghai
Matches London Metals as China Seeks Commodity Sway - The Shanghai Futures
Exchange started trading nickel and tin, offering the same main contracts
as the world’s biggest metals bourse in London, as China seeks to extend
its influence over commodities prices. -
more
EU imposes
anti-dumping duties on stainless steel from China and Taiwan - The European
Union will impose anti-dumping duties from Thursday on imports of cold-rolled
flat stainless steel from China and Taiwan, according to a notice on Wednesday
in the EU's Official Journal. -
more
The Rise
of Metals Men Spurs Four-Way Race for Russia’s Richest - The rising
fortunes of Russian metal investors Vladimir Potanin and Alexey Mordashov
have ignited a four-way battle at the top of the country’s wealth ranking
for the first time since the Bloomberg Billionaires Index began tracking
the world’s biggest fortunes in March 2012. -
more
Lima Mullung
& others fetching bones from the dog, MCC - While the Basamuk people
are arguing with the Chinese miners at MCC over the ‘tonnes of toxic
chemical’ spill at Basamuk Bay in Madang Province, Lima Mullung, the
said Basamuk Landowners Association Chairman got on an MCC boat and ran off
to town. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, March 26
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.23/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell on Wednesday and now total just under 432,800
tonnes. Nickel was trading higher earlier this morning, as were all base
metals, but has since surrendered nearly all of these gains. Nickel is showing
signs it could potentially test $6.15/lb, a strong support level again. To
fall below this level, could put nickel trading into unchartered waters.
That's not to say that we haven't traded in the $5/lb range before, just
not for some years.
Average price of cash nickel so far this month - $6.30/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Merafe) Shareholders of the Company are advised that the European benchmark
ferrochrome price has been settled at 108USc per pound for the second quarter
of 2015, a rollover from the price in the first quarter of 2015.
(MF) Baosteel Stainless cuts domestic stainless prices for Apr
(SO) Russian exports of stainless steel products in the January-February
period of this year decreased by 61.4 percent year on year to 602 mt.
(SSY) The US price for hot rolled band (HRB) dropped by $24/t in the last
two weeks, sinking to $522/t, according to the latest SteelBenchmarker from
World Steel Dynamics. This fall has helped to push the world export price
for HRB down to the lowest level since mid-June 2009, at $414/t
China; some
good news and some not-so-good news for nickel: Andy Home - Nickel was the
obvious stand-out in China's February metals trade figures. Against a backdrop
of muted import demand from the world's top metals consumer, refined nickel
imports hit a seven-month high. -
more
South of
Voisey’s Bay - The greatest find of Canada’s first diamond rush
failed to locate a single gemstone. Instead Robert Friedland’s Diamond
Fields Resources stumbled onto nickel with cobalt and copper—much more
prosaic stuff but in such magnificent quantities that, just three years after
its 1993 discovery, Voisey’s Bay sold for $4.3 billion. -
more
Ring of
Fire still emerging - When the bottom fell out of iron-ore giant Cliffs Natural
Resources last year and the company’s big plans for Northern Ontario
began to unravel, a competitor remarked that development in the Ring of Fire
would still happen one day, “not just on Cliffs’ timetable.”
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, March 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.33/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new all time record high on Tuesday
and now total 433,980 tonnes.
Average price of cash nickel so far this month - $6.31/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
EU to impose
anti-dumping duties on China, Taiwan stainless steel - The European
Union will impose punitive anti-dumping duties from Thursday on imports of
stainless steel cold-rolled sheet from China and Taiwan, according to a notice
on Wednesday in the EU's Official Journal. -
more
Is nickel
finally back on track? - At the outset of 2015, the once-stable base metal
segment suddenly became a precarious one, recording a bear market rally that
sent an alarming signal to investors.-
more
Strike
forces Sherrit to cut production - Canadian miner Sherrit International (TSX:
S) has been forced to cut production at its Ambatovy nickel mine in Madagascar
due to an ongoing labour strike. -
more
Indonesia
Buckles to Bauxite Exports to Support Smelter Construction - Indonesia will
allow mining companies to export bauxite to help miners bolster revenue and
fund smelter development, an official at the Energy and Mineral Resources
Ministry said on Monday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, March 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.48/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses rose on Monday and now total just shy of
the 431,500 tonne level. Lot of industry news today, although none of it
likely to have any major effect on the commodity markets. China reports their
imports of nickel continue to shift from raw ore to refined nickel in light
of the Indonesia nickel ore ban of January 2014. And speaking of that ban
- its back in the news as Indonesia looks at relaxing its export ban on bauxite
ore. Morgan Stanley is cutting its 2015 nickel forecast to $6.72/lb.
($14,815/tonne). US stainless steel surcharges for April have been published
and are at their lowest since August 2009
(here).
Average price of cash nickel so far this month - $6.30/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
US stainless
steel flat-rolled surcharges fall for April - US flat-rolled nickel bearing
stainless steel monthly surcharges for April fell to their lowest levels
since summer 2009, while ferritic grade type 403 was at its lowest monthly
price since early 2010, according to the domestic producers published prices
on Monday. -
more
Morgan Stanley
cuts commodities prices on China outlook - Morgan Stanley cut its price forecasts
for almost all base metals and bulk commodities as China's "dormant" industry
fails to bolster demand in the world's biggest consumer of copper and iron
ore. -
more
China Nickel
Imports and Exports Data February 2015 - The General Administration of China
Customs released data of China's February imports and exports of nickel on
Mar.23 (Unit: mt) -
more
Indonesia
Opens Room for Bauxite Export, Nickel Ore to Follow? - Indonesian miners
may be allowed to resume bauxite exports after a government official signalled
that the Indonesian government is looking at relaxing its (raw) mineral export
ban. -
more
Canada's
Sherritt hit by strike at Ambatovy mine in Madagascar - Diversified Canadian
miner Sherritt International said on Monday a strike by employees at its
Ambatovy nickel mine in Madagascar has forced the company to curtail output
from the mine. -
more
Sherritt Continues to Hit Milestones at Ambatovy - Sherritt International
started out 2015 with a bang when it reported record production of finished
nickel for the month of January at its Madagascar-based Ambatovy joint venture.
-
more
What China’s
‘new normal’ means for commodities - China’s “new
normal” economy might suggest merely impressive growth, rather than
the magical growth of recent decades. But for natural commodities and large
swathes of the world economy, things may never be the same again. -
more
Ring of
Fire: Ontario has 'gun to our head' First Nation chief says - The Ontario
government has put 'a gun to the head' of First Nations leaders trying to
negotiate a fair deal in the Ring of Fire mining area in the James Bay lowlands,
Neskantaga Chief Peter Moonias says. -
more
Courtesy AISI
- In the week ending March 21, 2015, domestic raw steel production was 1,639,000
net tons while the capability utilization rate was 69.3 percent. Production
was 1,868,000 net tons in the week ending March 21, 2014 while the capability
utilization then was 77.7 percent. The current week production represents
a 12.3 percent decrease from the same period in the previous year. Production
for the week ending March 21, 2015 is up 1.0 percent from the previous week
ending March 14, 2015 when production was 1,623,000 net tons and the rate
of capability utilization was 68.7 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, March 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.41/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.08/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell on Friday and now sit just over the 430,000
tonne level. Shanghai Metal Markets reports nickel ore stockpiles at five
major Chinese ports grew last week by 44,000 tonnes and now measures 11.198
million tonnes. While these numbers are 2/3 of where they were last fall,
it is highly doubtful SMM's forecast fo last year will prove true. Last October,
in a highly publicized and copied article, SMM forecast "China is expected
to use up nickel ore inventories by April 2015, Shanghai Metals Market foresees."
-
more One of many erroneous metals forecast made
over the past few years, by numerous analysts, as the market fails to react
like many felt it would. We still see $6.54/lb as resistance, giving nickel
more room to run for technical traders. Nickel's 100 day moving average
is trading below $7/lb, with 50 day in danger of moving below $6.50/lb.
Average price of cash nickel so far this month - $6.29/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters) Russia's Norilsk Nickel , the world's second largest nickel and
largest palladium producer, is considering a buy-back of its shares to support
its stock, Interfax news agency quoted Vladimir Potanin, its chief executive,
as saying on Thursday. No decision has been taken yet, said Potanin, also
Norilsk's co-owner and Russia's richest man.
(Twitter) China Feb refined #nickel imports up 33.3% y/y at 10,472 tonnes
Stainless
steel to shine at Chinese green building conference - The sustainable qualities
of stainless steel in building construction will be explored during a half
day session at an international conference in China next week. -
more
February
2015 crude steel production - World crude steel production for the 65
countries reporting to the World Steel Association (worldsteel) was 128 million
tonnes (Mt) in February 2015, a 0.6% increase compared to February 2014.
-
more
China plans
to resolve steel overcapacity by 2017 - China will accelerate the overhaul
of its overly-invested iron and steel sector to bring it back to a "basically
balanced level" by 2017, the industry ministry said. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, March 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.23/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.11/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell on Thursday and now total just under the
430,500 tonne level. Nickel jumped to the $14,000/tonne level early on today
and has been trading at that level ever since. We show resistance at $6.54/lb,
but nickel has plenty of room to roam before that becomes an issue. Support
is at $6.15/lb. Base metals are benefiting from a stronger Euro this morning.
Unless we see much larger gains this afternoon, nickel will close lower for
the week, month and year. Have a safe and relaxing weekend!
Average price of cash nickel so far this month - $6.29/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) After reaching 1.771 Mt/day in the last eight days of February, daily
crude steel output at China Iron and Steel Association (CISA) member mills
fell to 1.682 Mt in the first ten days of March, according to data from the
industry association reported by SteelFirst. However, this is still above
the year-ago level, of 1.660 Mt/day.
(SSY) Japanese crude steel output fell to a two-year low of 8.4 Mt in February,
down 0.2% year-on-year, according to data from the Japan Iron and Steel
Federation.
'China likely to end up as former would-be superpower', says man who foresaw
Japan's demise -
more
China’s Fastener Production Increased 5.88% in 2014 -
more
Japan
ferrochrome: Steady demand lifts prices to 85.50-86.50 cents/lb - Platts
assessed the spot price of high-carbon ferrochrome imported into Japan at
85.50-86.50/lb CIF Japan Friday, March 20, up from 85-86 cents/lb a week
earlier, as a steady flow of inquiries encouraged producers to raise prices.
-
more
What Does South32 Mean for the Nickel and Manganese Markets? - In August
2014, BHP Billiton (BHPB) announced that it intended to demerge its aluminium,
coal, manganese, nickel and silver assets into a new, independent global
mining and metals company. -
more
Internet
platforms to ease woes of steel sector - Internet platforms can help resolve
the overcapacity problems of the nation's steel industry, which is burdened
by losses as it copes with a slowing economy, according to senior officials.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, March 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at $6.20/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME approved warehouses total just over the 431,800 tonne level.
After three straight day of loses and nickel trading at levels not seen since
January of last year, nickel is up slightly this morning, but trading has
been volatile so far today. LME nickel stockpile totals are currently higher
than they started the month, but not by very much. The gains each month have
been slowly receding, and until this week, it appeared February might see
the first drop in surplus numbers. It is still possible, but for now, the
growth in stockpile numbers continues. Are we finally seeing evidence that
the Indonesia nickel ore ban of January 2014 is having an impact on the market
surplus? We will have to wait and see if the trend continues, but it is starting
to look that way.
Average price of cash nickel so far this month - $6.30/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) The global nickel surplus narrowed to 5,200 tonnes in January from
7,400 tonnes a year ago, the International Nickel Study Group said on Thursday.
Russia's Norilsk Nickel CEO says mulls share buy-back - Interfax -
more
U.S. Fastener Imports and Exports Both Jump in January -
more
Tropical cyclone activity may lead to further ocean warming -
more
What
Impact on Nickel Prices from Upcoming Trading on Shanghai Futures Exchange,
SMM Interviews - Mock trading was launched for nickel and tin futures contracts
on Shanghai Futures Exchange (SHFE) yesterday. -
more
Factbox
- BHP spin-off South32 by the numbers - BHP Billiton plans to spin off its
aluminium, manganese, nickel, silver and some coal assets into a company
called South32 in May. On Tuesday, it gave investors their first detailed
look at the new company. -
more
Why Goldman
Sachs Is Wrong About Commodity Prices: Philip Richards - Goldman Sachs delivered
a dire commodities outlook earlier this year, but RAB Capital Founder Philip
Richards still sees compelling buying opportunities. In this interview with
The Mining Report, Richards discusses his outlook for oil, gold and zinc,
and profiles companies with projects that will see the light of day even
in harsh price environments. -
more
Metal markets mull Malaysian delivery puzzle - The London Metal Exchange
(LME) dropped something of a bombshell on its users last Monday when it warned
it may have to suspend warranting activity at its Malaysian warehouses. -
more
Aluminum Up,
Steel Still Down in February - U.S. shipments of aluminum products increased
in February and although steel shipments continued to decline, it was at
a lower rate than last month. Canadian results were similar. -
more
Courtesy AISI
- In the week ending March 14, 2015, domestic raw steel production was 1,623,000
net tons while the capability utilization rate was 68.7 percent. Production
was 1,868,000 net tons in the week ending March 14, 2014 while the capability
utilization then was 77.7 percent. The current week production represents
a 13.1 percent decrease from the same period in the previous year. Production
for the week ending March 14, 2015 is down 1.3 percent from the previous
week ending March 7, 2015 when production was 1,645,000 net tons and the
rate of capability utilization was 69.6 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, March 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.42/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mostly quietly lower. Stockpiles of nickel
stored in LME approved warehouses continue to fall, and now total just over
the 428,900 tonne level. All eyes will be on the US Fed meeting this week,
looking for clues on when the Fed might raise US interest rates. In China,
Chinese premier Li Keqiang said at a press conference in Beijing that the
government will step up efforts to bolster economic growth.
Average price of cash nickel so far this month - $6.33/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
ARM to
curtail some operations as interim profits dip - African Rainbow Minerals
(ARM), a diversified mining company, reported on Monday a sharp drop in interim
profit, prompting it to consider curtailing or exiting operations that are
not profitable. -
more
Big mining
companies to take lead on Canadian prospecting - After three years of falling
commodity prices, big mining companies are taking the lead on exploration
in Canada as cash-strapped junior miners struggle to stay afloat. -
more
Mistaking
Peak Prices for "Peak Everything" - Plunging oil prices have been big news
over the past year. Since mid-summer 2014, the price for benchmark West Texas
Intermediate (WTI) crude has fallen from $105 to $48 per barrel. -
more
High
court: 3 mining firms broke ownership law The Supreme Court has affirmed
with finality its April 2014 decision prohibiting three mining firms from
operating in the country for violating the constitutional provision that
limits foreign ownership in mining companies to 40 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, March 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.35/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.03/lb
lower, but the bulls
and bears are playing a rough game of tug of war today, with the market moving
back and forth. Other metals are also trading lower at the moment. Stockpiles
of nickel stored in LME approved warehouses fell for a third consecutive
day on Thursday and opened today just under the 430,150 tonne level. While
nickel saw a bullish run earlier this month, it appears it peaked out on
Monday of this week, and nickel is now trading about where it was at the
beginning of the month. The Euro is adding negative pressure on the base
metals market again today. So far for 2015, nickel is going no where fast.
Have a safe and relaxing weekend!
Average price of cash nickel so far this month - $6.35/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(AAS) The spokesperson of China Securities Regulatory Commission Zhang Xiaojun
said on the press conference that CSRC has approved Shanghai Futures Exchange
(SHFE) to launch the futures tradings of nickel and tin.
Could 2015
finally be nickel’s chance to shine? - Nickel was something of a
disappointment in 2014 with prices spiking in the first half of the year,
only to fall back in the second half, failing to meet many analysts’
expectations. -
more
All is not well on the metals commodities front - In US dollar terms, metals
commodities have seen drastic falls over the past 4-5 years which will just
perpetuate the mining boom-bust cycle. -
more
No Inquiries
of Austenitic Stainless Sheets to Japan Even Entering March - Negotiations
on cold-rolled (CR) austenitic stainless steel sheets in the Asian region
seem to have been made for April shipments but even entering the 2nd week
of March, inquiries appear not to have sent to the Japanese mills. -
more
Russian
stainless steel imports in 2014 - According to experts of SpetsStal Association,
in 2014, Russian imports of major stainless steel products increased by 0.7%
to 253,389 tons compared to 2013. -
more
S.Korea
seeks 200 T of nickel for July - South Korea is seeking 200 tonnes of nickel
for July shipment via a tender, the state-run Public Procurement Service
said on its website. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, March 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.26/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.12/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell sharply on Wednesday, and after setting five
new record high totals this month, stockpile numbers are now below where
they were no the first trading day of the month. Stockpiles today total just
over the 430,850 tonne level. Base metals are trading higher this morning
on a recovering Euro, and news out of China that borrowing is rising.
Resistance remains at $6.53/lb and we will have to see if today's
turnaround is another bullish run, or will turn out to be mostly short covering
their bets.
Average price of cash nickel so far this month - $6.35/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Production
of Stainless Steel Products in December 2014 Is 225,138 Tons = Up by 3% from
prior month, and production of nickel-type products makes recovery = The
Ministry of Economy, Trade and Industry announced the production volume of
stainless steel products (hot-rolled products) in December 2014 was 225,138
tons, up by 2.5% from the prior month but down by 11.0% from the year-earlier
month. -
more
Audley
Capital to buy Finland's Talvivaara nickel mine - British investment firm
Audley Capital Advisors has signed a conditional agreement to buy the key
assets of Finland's troubled nickel miner Talvivaara , Audley and the Finnish
government said on Thursday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, March 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.38/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 fell on Tuesday and now total just under
the 432,500 tonne level. While nickel closed above resistance of $6.53/lb
on Monday, it was unable to hold that level on Tuesday, having been caught
up in a worldwide sell off. Today, base metals are trying to find their way
back, but a weaker Euro is forcing them to fight a strong headwind. European
equity markets are trading higher and this enthusiasm is giving metals a
boost. Citi is sticking with their forecast that nickel prices will rise
- and have been forced to push out the day of doom to the second half of
this year. Here is a news flash for you from last year - July 14 (Bloomberg)
-- Nickel, the best-performing base metal this year, will extend its rally
as the market is headed for a bigger deficit than previously forecast in
the wake of Indonesia’s ore export ban, according to Citigroup Inc.
- Nickel, of course, performed quite the opposite and instead have
fallen since this forecast was made. And we don't mean to pick on any one
analyst. Here is an article from May of last year quoting numerous analysts
-
"Nickel due to let off more steam, but rally to power on".
Eventually, their forecasts will probably prove true, although it remains
to be seen how severe any shortage will be and what effect it will have on
the traded price in nickel. While nickel ore stockpiles in China continue
to fall, although not nearly as fast as earlier forecast, stockpiles of LME
nickel stockpiles continue to break records, and no one forecast that for
2015. So pick your poison, but be careful betting the farm on any forecast
made by any analyst.
Average price of cash nickel so far this month - $6.35/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
SSY - Steel inventories in the major cities of China surged to 16.0 Mt in
the eight days to the 6 March, up from 13.7 Mt on the 25 February, according
to data from U-metal. This is the highest level since the second week of
May 2014.
Euro sinks to 12-year lows as yield gap grows -
more
Global nickel
prices set to pick-up in H2 2015: Citi Research - Nickel prices are expected
to recover globally in the second half of the year on declining nickel pig
iron production, stronger demand from the European stainless steel market
and reduced nickel ore availability, Citi Research said in a report Tuesday,
March 10. -
more
Indonesia
attracts $1.4 bln in investment for 11 nickel smelters - Eleven new nickel
smelters are to be built in Indonesia over the next two years at a cost of
$1.4 billion, a mining ministry official said, a sign that laws requiring
domestic processing of ores are having an impact after initial resistance
from the industry. -
more
Company conducts
Ramu mine inspection - A joint venture partner in the Ramu nickel project
in Madang, Highlands Pacific Ltd (HPL), last week arrived to do a general
inspection on how the mine plant and equipment are being maintained and operated.
-
more
Shanghai
to Launch Nickel Futures on Mar. 27 - China’s first nickel futures contract
is expected to be launched on Shanghai Futures Exchange (SHFE) on Mar. 27,
local media reported. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, March 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.54/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.12/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses have returned to setting all time record highs
on a near daily basis - and after a large gain on Monday, now total 432,900
tonnes. During the entire month of February, stockpiles only set a new record
high on three days. A new record high has already been set five times this
month. Nickel closed above resistance yesterday, but a stronger US Dollar
is putting heavy pressure on all base metals today, and nickel is trading
back below the $6.53/lb line of resistance. Today's trading has also seen
the price of nickel break out of an upward channel that had been in place
the last week.
Average price of cash nickel so far this month - $6.34/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MP) China nickel ore imports down 84.14pc in January 2015
Nickel Prices Look Poised to Rebound - Prices of nickel hit their lowest
levels in more than a year last week, suggesting it is just another metal
suffering from weaker Chinese demand growth and a strong dollar. -
more
How to
read the changing signals from China's metals trade: Andy Home - China will
be the key determinant of industrial metal prices this year. -
more
Import of
Stainless Steel Scrap in January 2015 - According to the import statistics
prepared by the Ministry of Finance, the import volume of stainless steel
scrap in January 2015 was 9,331 tons, up by 8.0% from the prior month. The
import by country is as shown in Table 1 and the same by discharge port in
Table 2 respectively. -
more
Australian
Discovery Metals Suspended from Botswana Bourse after Closing Copper Mine
- Australian copper and nickel mining giant, Discovery Metals Limited (DML),
has been suspended from the Botswana Stock Exchange and Australian Securities
Exchange after the closure of its Boseto Copper Mine in western Botswana,
where it had majority shares. -
more
Courtesy AISI
- In the week ending March 7, 2015, domestic raw steel production was 1,645,000
net tons while the capability utilization rate was 69.6 percent. Production
was 1,868,000 net tons in the week ending March 7, 2014 while the capability
utilization then was 77.7 percent. The current week production represents
a 11.9 percent decrease from the same period in the previous year. Production
for the week ending March 7, 2015 is down 0.7 percent from the previous week
ending February 28, 2015 when production was 1,657,000 net tons and the rate
of capability utilization was 70.1 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, March 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.53/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading flat
, with other London
traded base metals trading mostly higher, but only slightly. Stockpiles of
nickel stored in LME approved warehouses fell by less than 100 tonnes off
of Friday's all time record opening high of 431,952 tonnes. SMM reports
nickel ore inventories at five major Chinese ports fell by 345,000 tonnes
over the last week, and measure 11.43 million tonnes. Nickel is hitting
resistance at $6.53/lb and so far, is showing little success at breaking
above it.
Average price of cash nickel so far this month - $6.30/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters) Many investors have been waiting for shortages to kick in since
Indonesia banned exports of unprocessed ore last year, but additional supplies
from the Philippines filled the gap. The steady rise in inventories may be
due to softer than expected demand in China, said Nic Brown, head of commodities
research at Natixis. "I worry that the picture in China is worse than we
had appreciated. Look at ordinary carbon steel and clearly there's a degree
of carnage going on ... will stainless steel be affected similarly?" Nickel's
biggest market is as an ingredient in stainless steel.
(Reuters) Analysts at Macquarie Bank said nickel demand in China should get
a boost from a government order to close some nickel pig iron (NPI) factories
to curb pollution, citing the China research house Antaike. "This will worsen
the supply situation for nickel and accelerate a deficit in nickel," Macquarie
said in a note.
(SSY) Daily crude steel output at China Iron and Steel Association (CISA)
member mills rose sharply to 1.77 Mt in the last eight days of February,
according to data from the industry association reported by SteelFirst. This
compares with 1.64 Mt/day in the preceding ten days and is the highest daily
production rate since early January. It was, however, still below the same
period in 2014 when steel production also experienced a surge.
(SMM) 9 NPI producers in Linyi City, Shandong Province have been required
to stop production for failing to meet environmental protection inspections,
local media reported.
China's commodity imports slow in February amid annual holiday -
more
LME Ni
Average Price in February Down by 1.6% from Prior Month = It dipped below
US$14,000 under declining trend, and month-end inventory increases to 429,000
tons = LME monthly average price in February 2015 was <> Cash seller:
US$14,534.50 per ton (US$6.593 per lb) and <> 3-month seller: US$14,593.00
per ton (US$6.619 per lb). When compared with the average price in January,
both prices for cash seller and 3-month seller were down by 1.6% respectively.
(Hereinafter, the price is per ton.) -
more
European
stainless mills eye modest base price rise, stocks drawn down - European
stainless steel producers are targeting a modest increase in base prices
for flat products now that the destocking phases which has characterized
the market since the fourth quarter of 2014 seems finally to be drawing to
a close, sources said this week. -
more
No Movement
at All in CR Austenitic Stainless Sheets in Asia - Negotiations on cold-rolled
(CR) austenitic stainless steel sheets in Asia will be commenced for May
shipment as the Chinese New Year holiday was over but there is no movement
at all with no inquiries. Customers have not changed their wait-and-see stance
without sending inquiries anticipating further decrease in prices. -
more
Miner
Antam Reports Shock Loss - State-run diversified miner Aneka Tambang posted
a surprising loss last year as the company’s sales declined on the back
of a nickel ore export ban and weakening rupiah, which increased company
expenses. -
more
Market Trend
of Import of Ferroalloy as of 27 February 2015 = Price of Indian SiMn drops
drastically, and trade of Chinese products is thin after holidays = The market
trend of import of ferroalloy as of 27 February 2015 is as follows. -
more
Poseidon
to bring three West Australian nickel mines off care and maintenance, despite
low commodity price - Despite a dwindling commodity price, one West Australian
nickel exploration and development company is busily trying to bring three
mines back into production, at the same time. -
more
Chinese
steelmakers face headwinds of slowing growth, glut in capacity - Chinese
steelmakers are facing more headwinds this year as economic growth slows
and need government support to tackle long-term overcapacity, the chairman
of Anshan Iron & Steel Group said. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, March 5
We
will be traveling the rest of this week, so our next daily update will be
on Monday , March 9th. Have a safe and relaxing weekend.
Abridged/Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.34/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.09/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 Wednesday and now
total 431,442 tonnes. Cancelled warrants continue to rise as well, reading
over 28% yesterday.
Average price of cash nickel so far this month - $6.23/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.21/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.11/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new record high on Tuesday and now total
431,274 tonnes. Cancelled warrants have risen from the 23% range to over
27% yesterday on renewed buying interest. We will have to wait and see if
this buys are bets by trading houses, or actual purchases by users. India
cut its interest rate overnight, in a surprise move, following China, who
took a similar step to stimulate its economy last week. Nickel fell to trade
at $6.06/lb early in today's session, and has jumped nearly $350/tonne since.
Average price of cash nickel so far this month - $6.23/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Inquiries
of CR Stainless Sheets Increase Rapidly from EU - According to a source,
inquiries of cold-rolled (CR) stainless steel sheets are increasing from
the European region. -
more
London
Metal Exchange considering extension of LME sword warrant oversight - The
London Metal Exchange is considering whether its electronic LME sword system
could be used to oversee metal stored outside the exchange, an executive
said on Tuesday, the latest sign that a financing fraud on the mainland is
still roiling banks and trading. -
more
Russia's
Hi-Carbon Ferro-Chrome exports plunged during 2014 - According to latest
government statistics, the Russian Hi-Carbon ferro-chrome alloy exports declined
sharply during 2014. -
more
Japanese
mining giant threatened aid cut in bid to win Solomon Islands deal - A mining
giant financed by the Japanese government threatened to have foreign aid
withdrawn from the Solomon Islands in a campaign to win rights to a lucrative
nickel deposit. -
more
Australia's
mining woes laid bare - Australia’s mining sector is a less attractive
destination for financiers, with concerns mounting over the health of junior
mining companies. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, March 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.30/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses lost just few tonnes on Monday and sit just
shy of yesterday's record high of 430,944 tonnes. Technically, nickel closed
below support of $6.31/lb yesterday and a second close below that level
today, could send the market another bearish signal. We show the next line
of support at $6.24/lb , but even that appears to be under challenge today.
The strength of the US Dollar is adding negative pressure, as is the uncertainty
about what is going on in the China economy.
Average price of cash nickel so far this month - $6.30/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Daily crude steel output at China Iron and Steel Association member
mills rose to 1.638 Mt in the ten days ending 20 February, according to data
from the industry association reported by SteelFirst. This is up from 1.628
Mt/day in the first ten days of the month, but below the year-ago level of
1.689 Mt/day.
Metals tycoon Potanin becomes Russia's richest man-Forbes -
more
Renewed warming in the tropical Pacific Ocean -
more
Nickel
Pig Iron: A Cheaper Nickel Alternative - Nickel is an essential base metal
used in many industries, but its hefty price tag could be a problem for countries
wanting to import the said metal. -
more
Zimbabwe's
Bindura Nickel sees December smelter restart - Zimbabwe's Bindura Nickel
Corporation will restart its smelter by December after raising $20 million
from a five-year bond, a company official said on Tuesday. -
more
Russia's
Export of Ferro-chrome in Full Year 2014 = High-carbon product is 129,685
tons and low-carbon product is 216,849 tons = Russia's export volume of
high-carbon ferro-chrome (C > 4%) in the full year 2014 (January - December)
was 129,685 tons, down by 21.3% from 164,741 tons of the prior year. -
more
Eco-activists slam 3 mining firms tied to LP for over-extraction of nickel
- Environmental advocates marked the 20th anniversary of the Philippine Mining
Act of 1995 Tuesday with a protest, even as they accused Malacañang
of shielding mining firms with close ties to the Liberal Party (LP). -
more
Nickel
producer profits P4.8B in July-December - Global Ferronickel Holdings, Inc.
reported P4.8 billion in net income in the six months ending December last
year, while operating revenue reached P9.05 billion, according to its financial
report submitted to the stock exchange yesterday. -
more
Courtesy AISI
- In the week ending February 28, 2015, domestic raw steel production was
1,657,000 net tons while the capability utilization rate was 70.1 percent.
Production was 1,824,000 net tons in the week ending February 28, 2014, while
the capability utilization then was 75.8 percent. The current week production
represents a 9.2 percent decrease from the same period in the previous year.
Production for the week ending February 28, 2015 is down 3.4 percent from
the previous week ending February 28, 2015 when production was 1,716,000
net tons and the rate of capability utilization was 72.6 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, March 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.39/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.06/lb
lower, with other
London traded base metals trading little changed. Stockpiles of nickel stored
in LME approved warehouses rose to a third consecutive record high on Monday
and now totals 430,944 tonnes. SMM reports stockpiles of nickel ore at five
major ports is at 11.77 million tonnes, exactly where it was on Feb 16th,
before the week long Lunar New Year holiday. Nickel is lower today, even
in light of a surprise rate cut in China. This cut appears to be reaffirming
traders concerns of an economic slowdown in China. Look to $6.31/lb to offer
support for nickel.
Average price of cash nickel so far this month - n/a
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel Prices
to Rally, but Marginally, SMM Expects - Nickel market now stages price rallies,
and any upward room for nickel prices will be small, Shanghai Metals Market
foresees. -
more
Disappointing
Prospects For Stainless Steel Demand Growth In 2015 - Stainless steel purchase
tonnages have failed to pick up, in early 2015, in the major consuming markets.
- more
No immediate
relief for stainless steel sector: Jindal Stainless - Finance Minister Arun
Jaitley announced Union Budget in parliament on Saturday, Feb. 28, 2015 aiming
at high growth, saying the pace of cutting the fiscal deficit would slow
as he seeks to boost investment and ensure that ordinary people benefit.
-
more
Port
congestion fixed, Malacañang says - The volume of cargo ship in and
out of the seaports in the Philippines also grew faster in 2014 amid the
congestion, the Philippine Ports Authority reports -
more
Ring of
Fire road proposal to get $785,000 government study - The Ring of Fire mining
development area in northern Ontario is getting a $785,000 boost as the federal
and provincial governments announce a joint study of an all-weather road
for the isolated region. -
more
Sirius
to supply nickel concentrate to BHP's Nickel West business - Nickel
developer Sirius Resources has struck a deal with BHP Billiton to supply
nickel concentrate to the mining major's Nickel West business. -
more
SFC wins
court order to wind up China metal recycler for forgery - The Securities
and Futures Commission won a landmark court order to wind up China Metal
Recycling (Holdings), which said it was the mainland's largest recycler of
scrap metal but was alleged by the SFC to have grossly inflated sales and
profit by forging documents and transactions. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.10/lb
Reports
Commodity/Economic Comments
LME drops
proposal to stop issuing Malaysia warrants - The London Metal Exchange
said on Monday it has withdrawn its proposal to stop issuing warrants for
metal in Malaysia from July after the government resolved issues over its
new tax reforms. -
Higher
returns for stainless steel scrap - Global: As a result of an improvement
in demand from the mills, stainless steel scrap values mounted a recovery
during March. Prices for the 304 grade climbed from US$ 1275-1325 per tonne
in late February to US$ 1340-1390 a month later while the range for 316 material
advanced from US$ 1760-1810 to US$ 1800-1850 over the same period. -
China's moly
producers to face another challenging year in 2015 - Chinese producers of
molybdenum concentrate and ferromolybdenum will face yet another challenging
year in 2015 characterized by relatively low prices and steady demand, market
sources said at a molybdenum event in Xiamen at southern China's Fujian province
over the weekend. -
Layoffs at
Special Metals affect about 70 - Layoffs believed to affect 70 or more jobs
were announced at the Special Metals plant in Huntington on Monday, and company
officials declined to say whether the reductions were permanent or temporary.
-
Chinese-backed smelter plan causes concern among Sulawesi fishermen - As
a pair of Chinese-controlled mining companies proceed with plans to construct
nickel smelters in Indonesia's Central Sulawesi province, in line with a
national edict to increase in-country mineral processing capacity, locals
fear the factories will only intensify environmental degradation from the
same firms' mining operations. -
Ramu mine
suffers as Mother Nature bites back - Dumping millions of tonnes of toxic
waste into a pristine marine environment was bound to have consequences.
Maybe severe rains and flooding was not what was expected – but Mother
Nature moves in mysterious way. -
Morning Nickel
Price Statistics & Figures
Ambatovy
Nickel Project Achieves 90% of Full Production = 6 certificates for completion
are achieved and remaining 4 certificates are targeted at being achieved
by end Sept. = The production volume of nickel unwrought from Ambatovy Nickel
Project in Madagascar driven by Sumitomo Corporation jointly with Sherritt
International Corporation, Korea Resources Corporation and SNC Lavalin Inc.
achieved an average of 90% of full production for a period of 90 days. Sumitomo
announced the above on March 24. -
Stainless
Steel Fabricators in Perth Provide Guide to How Stainless Steel is Made -
For those who have ever wondered how stainless steel is made, a stainless
steel manufacturer in WA has produced a very short guide describing the process
in simple terms. -
EU imposes
anti-dumping duties on stainless steel from China and Taiwan - The European
Union will impose anti-dumping duties from Thursday on imports of cold-rolled
flat stainless steel from China and Taiwan, according to a notice on Wednesday
in the EU's Official Journal. -
The Rise
of Metals Men Spurs Four-Way Race for Russia’s Richest - The rising
fortunes of Russian metal investors Vladimir Potanin and Alexey Mordashov
have ignited a four-way battle at the top of the country’s wealth ranking
for the first time since the Bloomberg Billionaires Index began tracking
the world’s biggest fortunes in March 2012. -
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell on Wednesday and now total just under 432,800
tonnes. Nickel was trading higher earlier this morning, as were all base
metals, but has since surrendered nearly all of these gains. Nickel is showing
signs it could potentially test $6.15/lb, a strong support level again. To
fall below this level, could put nickel trading into unchartered waters.
That's not to say that we haven't traded in the $5/lb range before, just
not for some years.
South of
Voisey’s Bay - The greatest find of Canada’s first diamond rush
failed to locate a single gemstone. Instead Robert Friedland’s Diamond
Fields Resources stumbled onto nickel with cobalt and copper—much more
prosaic stuff but in such magnificent quantities that, just three years after
its 1993 discovery, Voisey’s Bay sold for $4.3 billion. -
Morgan Stanley
cuts commodities prices on China outlook - Morgan Stanley cut its price forecasts
for almost all base metals and bulk commodities as China's "dormant" industry
fails to bolster demand in the world's biggest consumer of copper and iron
ore. -
February
2015 crude steel production - World crude steel production for the 65
countries reporting to the World Steel Association (worldsteel) was 128 million
tonnes (Mt) in February 2015, a 0.6% increase compared to February 2014.
-
Japan
ferrochrome: Steady demand lifts prices to 85.50-86.50 cents/lb - Platts
assessed the spot price of high-carbon ferrochrome imported into Japan at
85.50-86.50/lb CIF Japan Friday, March 20, up from 85-86 cents/lb a week
earlier, as a steady flow of inquiries encouraged producers to raise prices.
-
What Does South32 Mean for the Nickel and Manganese Markets? - In August
2014, BHP Billiton (BHPB) announced that it intended to demerge its aluminium,
coal, manganese, nickel and silver assets into a new, independent global
mining and metals company. -
ARM to
curtail some operations as interim profits dip - African Rainbow Minerals
(ARM), a diversified mining company, reported on Monday a sharp drop in interim
profit, prompting it to consider curtailing or exiting operations that are
not profitable. -
High
court: 3 mining firms broke ownership law The Supreme Court has affirmed
with finality its April 2014 decision prohibiting three mining firms from
operating in the country for violating the constitutional provision that
limits foreign ownership in mining companies to 40 percent. -
S.Korea
seeks 200 T of nickel for July - South Korea is seeking 200 tonnes of nickel
for July shipment via a tender, the state-run Public Procurement Service
said on its website. -
Audley
Capital to buy Finland's Talvivaara nickel mine - British investment firm
Audley Capital Advisors has signed a conditional agreement to buy the key
assets of Finland's troubled nickel miner Talvivaara , Audley and the Finnish
government said on Thursday. -
Australian
Discovery Metals Suspended from Botswana Bourse after Closing Copper Mine
- Australian copper and nickel mining giant, Discovery Metals Limited (DML),
has been suspended from the Botswana Stock Exchange and Australian Securities
Exchange after the closure of its Boseto Copper Mine in western Botswana,
where it had majority shares. -
, with other London
traded base metals trading mostly higher, but only slightly. Stockpiles of
nickel stored in LME approved warehouses fell by less than 100 tonnes off
of Friday's all time record opening high of 431,952 tonnes. SMM reports
nickel ore inventories at five major Chinese ports fell by 345,000 tonnes
over the last week, and measure 11.43 million tonnes. Nickel is hitting
resistance at $6.53/lb and so far, is showing little success at breaking
above it.
We
will be traveling the rest of this week, so our next daily update will be
on Monday , March 9th. Have a safe and relaxing weekend.
Japanese
mining giant threatened aid cut in bid to win Solomon Islands deal - A mining
giant financed by the Japanese government threatened to have foreign aid
withdrawn from the Solomon Islands in a campaign to win rights to a lucrative
nickel deposit. -
No immediate
relief for stainless steel sector: Jindal Stainless - Finance Minister Arun
Jaitley announced Union Budget in parliament on Saturday, Feb. 28, 2015 aiming
at high growth, saying the pace of cutting the fiscal deficit would slow
as he seeks to boost investment and ensure that ordinary people benefit.
-
