Thursday, March 29

• Three month nickel closed Wednesday's trading session at $5.96/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started the day just under the 320,600 tonne level. LME traders are not following Shanghai markets which support sour theory that Shanghai tends to be reactionary to the LME. Shanghai Metals Market nickel fell last night to its lowest level since mid January, as China steel futures resumed moving downward. The Chinese stainless steel index we follow also continues to move lower. LME nickel, on the other hand, is up this morning, and now trading above $6.00/lb. August 2014, - that was the last time we saw LME nickel inventories registering at present levels. Stockpiles are down 46,000 tonnes from the beginning of the year. If, and this is a huge if, the current pace of supply and demand on LME nickel stock continues, nickel stockpiles will have nearly halved by years end. That should not happen as we see seasonal slowdowns in the summer, and other supply slow periods, but it does put into perspective a huge stockpile problem the market has had for years, which suddenly does not appear to be such a huge problem. This is our final update of the week, and we hope each of you has a safe and relaxing weekend.
• Average price of cash nickel so far this month - $6.08/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Prices stall in first quarter as trade concerns bite - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• (Bloomberg) The S&P Global Platts China Steel Sentiment jumped to an 18-month high of 69.09 out of a possible 100 points in March, despite the U.S. announcing tariffs on steel and aluminum products.
• Top 5 Nickel Miners To Consider Before The Nickel Boom - more
• Trump's China tariffs may not begin until June -U.S. officials - more
• China's Cutting Taxes for the Industries Trump Wants to Punish - more
• Stocks Regain Poise After Tech Turmoil; Bonds Gain: Markets Wrap - more

     Yesterday's market review - Aluminium at lowest since December as dollar gains - Aluminium prices hit their lowest level in more than three months on Wednesday as the dollar firmed and concerns lingered that output cuts in China had not made as big of a dent on supply as expected. - more

      Antam granted additional export permit for nickel, bauxite - State-owned diversified miner PT Aneka Tambang (Antam) has obtained a new recommendation for nickel and bauxite exports in line with its plans to boost production and sales of the commodities this year. - more

      PolyMet's financial prospects dim - The economic prospects of PolyMet Mining’s proposed NorthMet copper-nickel mine have diminished significantly from earlier projections, according to a new definitive feasibility study that the company issued this week. - more

      Change is coming: Do we really need new coins? - The Bangko Sentral ng Pilipinas has just launched the New Generation Currency Coins, designed to gradually replace the current BSP Coin Series which has been in circulation since 1995. - more

     China's demand outlook for steel, iron ore reinforced at SGX event - The Singapore Exchange offered views supporting prices and seaborne trade in iron ore and coking at a recent event with clients in London. - 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 news and information free of charge. Contact us

Wednesday, March 28

• Three month nickel closed Tuesday's trading session at $5.90/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 322,200 tonne level. In a sea of red this morning, nickel is trading slightly higher at the moment, but showing little enthusiasm. For the past few days, nickel has increased about $.01/lb each day. Last week this time, the $6.06/lb mark was a support level. Now, $6.00/lb is putting up resistance. Markets appear to have stabilized for now, and in a holding pattern, waiting to see if a feared trade war will come, or if negotiations will settle things down. Nickel fundamentals remain unchanged for the time.
• Average price of cash nickel so far this month - $6.09/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - London copper sheds early gains as dollar firms, trade concerns linger - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Section 232 Reservations Unsettle the Emerging Steel Markets - more
• Further Uncertainty Created by Section 232 Exemptions - more
• Stocks Drop as Tech Tumult Spreads; Yen Weakens: Markets Wrap - more
• U.S. Weighs Use of Emergency Law to Curb Chinese Takeovers - more

     Tuesday's market review - Copper price rises as trade war fears fade - Copper prices rose on Tuesday after reports of behind-the-scenes talks between the United States and China fuelled hopes that a trade war could be averted and sparked a global stock market recovery, but a strengthening dollar limited gains. - more

     Fortescue cuts iron ore price outlook as Chinese production slowdown, trade tensions weigh - Australia’s Fortescue Metals Group on Tuesday cut its price guidance for iron ore sales for the year to end-June 2018, citing subdued construction activity in China, some ongoing steel production restrictions and global trade worries. - more

     Russia's Export & Import Results of Ferroalloys in December 2017 = Export is 66,083 tons and import is 24,410 tons = Russia's customs statistics shows the export volume of ferroalloys in December 2017 was 66,083 tons, up by 10.9% from 59,590 tons in the prior month. - more

     As PolyMet mine's costs rise, potential profits called into question - It's going to cost hundreds of million dollars more than originally planned to build the proposed PolyMet copper-nickel mine and processing plant in northeast Minnesota — but the eventual payout could exceed $2 billion, according to a new economic and technical report PolyMet Mining released Tuesday. - more

     New coins to stop ‘nickel extraction’ - The decision of the Bangko Sentral ng Pilipinas to introduce a new series of coins was meant to deter foreign entities from stealing large quantities of the local specie to extract their nickel content. - more

     Nickel hunt recharged - Goldfields nickel explorers are piggybacking off an increasing global demand for lithium, allowing for more funds to be tipped into exploration for the base metal, a minerals exploration boss says. - 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 news and information free of charge. Contact us

Tuesday, March 27

• Three month nickel closed Monday's trading session at $5.88/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and now total 323,400 tonnes. Cancelled warrants jumped to the 41% range on Friday, and remain there. Someone appears to remain very bullish long term. North American Stainless announced its first price increases since President Trump announced import tariff's. Typically, the others either follow, or were first with these type announcements - NAS just happens to be one of the only ones who posts them online.  After sliding for a spell and dropping like a rock on Friday, Chinese steel futures moved a tad higher today. Stainless steel prices in China continue to slip, down over 1% from last week at this time, and down over 5-1/2% from this time last year. The Philippines government delayed its review findings on a mining study until late in the summer.
• Average price of cash nickel so far this month - $6.11/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Base metals rise as trade war fears fade - more
• Reuters Daily Inside Metals - pdf here
• Damstahl Stainless Steel Report - March 2018 - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Nickel in the X-ray limelight - more
• Commodities are a real opportunity in 2018 - more
• Stocks Rebound on Trade Hopes; Treasuries Steady: Markets Wrap - more
• Goldman Says There's No Need to Worry About Slowing Global Growth - more
• El Niño-Southern Oscillation neutral - more

     Yesterday's market review - Copper slides to 3-1/2 month low as inventories jump - Copper slid to its lowest since early December on Monday, weighed down by a sharp rise in stockpiles and simmering concerns over the outlook for U.S.-China trade relations. - more

      Effective with shipments April 1, 2018, North American Stainless will make the following price changes: • Cold Rolled standard chemistry 304, 304L, and 316L increase achieved by reducing the functional discount 1 point. • Cold Rolled standard chemistry 201, 301, and 430 increase achieved by reducing the functional discount 2 points. • All other Cold Rolled alloys increase achieved by reducing the functional discount 3 points. • Hot Rolled Products (CMP & PMP) increase of $70/ton ($.035/lb). • 409 Cold Rolled and Hot Rolled increase of $100/ton ($.05/lb). • Adder of $60/ton ($.03/lb) for type 430 produced to or slit from a width greater than 48” Please note, all active requests for quote will be subject to the price changes listed above. - source

      February 2018 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 131.8 million tonnes (Mt) in February 2018, a 3.5% increase compared to February 2017 - more

      Duterte’s Mining Crackdown Is Keeping the Metals World in Suspense - The global nickel market will be kept in suspense even longer over the outlook for ore supplies from the Philippines after the country’s mining council again pushed back the deadline for completion of a review of 26 mines ordered shut or suspended last year. - more

• Government starts review of 26 mining operations - more

     Nissan spins up new plant to give second life to EV batteries - At a small plant intended to help revitalize a town ravaged by the 2011 earthquake, Nissan Motor Co is giving its costly electric vehicle (EV) batteries new life after they pass their peak performance. - more

     Courtesy AISI - In the week ending on March 24, 2018, domestic raw steel production was 1,803,000 net tons while the capability utilization rate was 77.4 percent. Production was 1,716,000 net tons in the week ending March 24, 2017 while the capability utilization then was 73.6 percent. The current week production represents a 5.1 percent increase from the same period in the previous year. Production for the week ending March 24, 2018 is down 1.3 percent from the previous week ending March 17, 2018 when production was 1,826,000 net tons and the rate of capability utilization was 78.3 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)
• 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 news and information free of charge. Contact us

Monday, March 26

• Three month nickel closed Friday's trading session at $5.87/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on both Thursday and Friday and started the week just under the 323,900 tonne level. The announced tariff's against China on Thursday, fell on world markets like a bomb and with nearly everything else, nickel took a dive. On Thursday, nickel closed below the $13,000 tonne level for the first time since late January. It continued to fall on Friday and closed for a second day below where we showed support at $6.06/lb, and below a large trading house's support level at $5.94/lb. Markets are not hinting yet today, that any recovery may be in store for later today. That, of course, is subject to change at a moments notice, but for now, nickel has fallen out of a channel it has traded in since late January. We put the next level of support around $5.82/lb, which is already being tested today. All short term technical signals are flashing sell, but as we have stated before, these signals tend to be more reactionary, than prophetic, in our opinion. We hope you had a nice weekend and look forward to spending an interesting market week with you. It's the last week of the first quarter of 2018.
• Average price of cash nickel so far this month - $6.12/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Copper slides to 3-1/2 month low as inventories jump - more
• Reuters Daily Inside Metals - pdf here
• U.S. Imports of Stainless Steel Mill Products - more
• China's base metals import, export in Feb - more

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• How commodities may be signaling a global economic slowdown - more
• China appeals for cooperation as it warns of ‘trade war’ - more
• China Hits Back on Trump Tariffs as Europe Off Hook for Now - more
• (Marex) China customs data for February - Refined nickel imports 14.6kt (-4.7% y/y) | nickel ore imports 1.54mt (+41% y/y)
• Stocks Advance, Bonds Fall as Trade Fears Subside: Markets Wrap - more

     Friday's market review - Base metals hit multi-month lows on trade war fears - Base metals hit multi-month lows on Friday as the threat of a global trade war escalated after U.S. President Donald Trump announced tariffs on up to $60 billion of Chinese goods. - more

     Two risks threaten commodities, one bullish, one bearish: Russell - It's not quite time to run up the red flags, but some recent developments in commodity markets suggest it may be time to start looking for them in the locker. - more

     Ore exploration sharply up in Finland - Total exploration investments were €61,4 million in 2017. 46 companies made 273 kilometres of test-drilling in the ground, an increase by 53%, Finland’s mining authority Tukes reports. - more

     RNC mulls selling Aussie mine to focus on massive cobalt-nickel project in Quebec - Canada’s RNC Minerals said Thursday it might sell all or part of its Beta Hunt gold and nickel mine in Western Australia to focus instead on its Dumont cobalt and nickel project in Quebec, the world’s largest undeveloped reserve of both metals. - more

     Founder of nickel mine sentenced in largest ever environmental crime in Finland  - A high court in Rovaniemi, northern Finland on Thursday sentenced Pekka Pera, founder and original director of Talvivaara mining company, to half a year in prison on probation on account of severe environmental pollution. - more

     Province sets new pollution targets, but Sudbury smelters not expected to hit them - The amount of sulphur dioxide that industries can pump into Ontario's atmosphere will be dramatically reduced under new regulations set to take effect in 2023, but the environment minister says companies won't be required to hit those targets. - more

     Clive Palmer splashes $4M on new properties - He may owe millions of dollars to his collapsed company Queensland Nickel, but that hasn’t stopped Clive Palmer from splashing some serious cash on two new properties. - more

• Palmer to foot bill for 'futile' appeal - 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 news and information free of charge. Contact us

Thursday, March 22

• Three month nickel closed Wednesday's trading session at $6.11/lb . Indicators at 6:50 am CST today show 3 month nickel trading unchanged and only slightly higher. Stockpiles of nickel stored in LME approved warehouses rose slightly yesterday, and now total just over the325,800 tonne level. Nickel jumped higher this morning, but has been retreating since, and is very near going negative. President Trump is expected to take the second shot this month in what could easily become a trade war with China. Market are jittery in anticipation of what he will announce. This is our last update for the week so we wish each of you a safe and enjoyable weekend.
• Average price of cash nickel so far this month - $6.14/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Copper rallies, but trade war angst keeps it near 3-month low - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Understanding the Role of Cobalt in Batteries - more
• As Commodities Roar, Africa Wants Bigger Slice of Mining Pie - more
• Trump-China Trade War Sends Jitters Through U.S. - more

     Wednesday's market review - Copper rebounds from 3-month low ahead of Fed policy statement - Copper, zinc and aluminium rebounded from three-month lows on Wednesday as a sharp rise in oil prices, a firmer tone to equities and a retreat in the dollar buoyed metals prices ahead of a policy statement from the Federal Reserve. - more

     BHP sees limited impact on steel market from U.S. new tariffs -exec - Global miner BHP anticipates planned new U.S. steel import tariffs will have a limited impact on both the steel market and the firm, and doesn’t foresee a chain reaction from other countries, a senior official said on Thursday. - more

     Chile's Molybdenum Production in January 2018 Is 4,743.1 Tons = Up by 10% from year-earlier month but down by 8% from prior month = According to Ministerio de Mineria of Chile, the production volume of molybdenum (in pure Mo equivalent) in January 2018 was 4,743.1 tons, up by 10.1% from 4,306.6 tons in the year-earlier month but down by 8.2% from 5,168.8 tons in the prior month. - more

     Factbox: China’s 2018 targets for energy and steel sectors - China's parliament ended the first session of the 13th National People's Congress on Tuesday, approving the 2018 economic and social development plan, including those tied to the energy and steel sectors. - more

      Jim Rogers Says Trade War Is Making His Bearish View Even Darker - Jim Rogers Says Trade War Is Making His Bearish View Even Darker - 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 news and information free of charge. Contact us

Wednesday, March 21

• Three month nickel closed Tuesday's trading session at $6.10/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses rose substantially yesterday, and now totals just over the 325,800 tonne level. Spotlight will be on the US Fed today, as traders watch to see what kind of interest rate increase is announced, and any hints on how many more to expect this year. The Fed rarely does something to displease the market now a days so expect no surprises. Another slow news day. A reader asked about the Australian Clive Palmer soap opera. It still makes headlines down under, but since the beginning of the year, the major Australian newspapers are now hiding behind subscription only pages, and thus we have not been spending much space on that situation.
• Average price of cash nickel so far this month - $6.15/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Copper slips to 3-month low ahead of Fed policy statement - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Why it is costly to ignore mineral value addition - more
• Trump set to propose new trade restraints, tariffs against China on Thursday - more
• The 10 ways China could retaliate against the U.S. in a trade war  - more
• Does Trump want a trade war? What you need to know about Smoot-Hawley tariffs and the 1930s. - more
• European Stocks Decline, Dollar Weakens Before Fed: Markets Wrap - more

     Tuesday's market review - Copper hits three-month low on rising inventories, trade war fears - Copper slumped to its lowest level in more than three months on Tuesday as rising inventories highlighted healthy supplies. - more

     Philippine Global Ferronickel renews nickel ore supply deal with Guangdong Century - Global Ferronickel Holdings, the second largest nickel ore producer in the Philippines, said Monday that it has agreed to supply 1.5 million wet mt of nickel ore to Chinese buyer Guangdong Century Tsingshan Nickel Industry at spot price for the 2018 mining season. - more

     Ramu Ni-Co mine output rises - Papua New Guinea's Ramu nickel-cobalt mine reported higher output in 2017, making gains amid increased demand for battery metals. - more

     US slaps anti-dumping duty on stainless steel flanges imported from India, China - The Trump Administration has decided to slap anti-dumping duty on the stainless steel flanges imported from China and India after it found in its preliminary probe that both the countries had provided subsidies to the exporters. - 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 news and information free of charge. Contact us

Tuesday, March 20

• Three month nickel closed Monday's trading session at $6.11/lb . Indicators at 6:15am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and now total just under the 322,900 tonne level. Nickel fell approximately 1% yesterday, as markets try to figure out what effect President Trump's protectionist moves will have down the road. Nickel remains rangebound, and moving back to the lower side. One technical trading advisor moved major support back to $5.94/lb, while we still show the bottom of the range at $6.06/lb, and the top around $6.33/lb. Very quiet news day .
• Average price of cash nickel so far this month - $6.15/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - no story filed
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Steel - the surprising recycling champion - more
• Battery makers descend on Australia, Canada cobalt developers - more
• Nickel geologist wins Women in Mining Canada award - more
• U.S. Plans Heavy China Tariff Hit as Soon as This Week - more
• Corporate America Warns Trump Against Broad-Based China Tariffs - more
• Stocks Struggle After Tech Selloff; Dollar Rises: Markets Wrap - more

     Monday's market review - Copper slips as pre-Fed caution hurts metals - Copper eased and aluminium briefly touched its lowest since mid-December on Monday as cyclical assets broadly weakened ahead of an expected rise in U.S. interest rates and as finance ministers met for a G20 summit. - more

      Kun-Manie nickel resource just keeps on expanding, says Amur Minerals' Robin Young - Amur Minerals Corporation’s chief executive Robin Young tells Proactive he is ‘very pleased’ with the 50% increase to 1.58mln tonnes at the Russian nickel deposit. - more

     Courtesy AISI - In the week ending on March 17, 2018, domestic raw steel production was 1,826,000 net tons while the capability utilization rate was 78.3 percent. Production was 1,716,000 net tons in the week ending March 17, 2017 while the capability utilization then was 73.6 percent. The current week production represents a 6.4 percent increase from the same period in the previous year. Production for the week ending March 17, 2018 is up 0.7 percent from the previous week ending March 10, 2018 when production was 1,813,000 net tons and the rate of capability utilization was 77.8 percent. - more

     Rise in electric vehicles to boost demand for nickel in 2020s - Electric vehicle industry is booming: the European demand for battery-powered cars is meant to reach 600,000 by 2020. The rise affects other industries, especially those producing battery components including nickel, cobalt and palladium. - more

     Environmentalists Urge Closer Look at PolyMet Water Permit  - An environmental group is asking regulators to take a closer look at the draft water quality permit for the proposed PolyMet copper-nickel mine in northeastern Minnesota. - more

     Decrepit Vale plant in Sudbury coming down - It's been a long time coming, but Vale's long-dormant Iron Ore Recovery Plant off Fielding Road in Copper Cliff is finally going to be taken down. - 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 news and information free of charge. Contact us

Monday, March 19

• Three month nickel closed Friday's trading session at $6.18/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses fell both Thursday and Friday and now total just under the 324,100 tonne level. Chinese stainless steel prices continue to edge lower, now over 6% lower than this time last year. The Chinese steel price index also continues to slump, while the Euro and US Dollar exchange rate continue to trade within a month plus long band. Nickel is also rangebound, and after jumping from the low side to the high side over the past few weeks, it is not trading mid range. It appears Norilsk owner Vladimir Potanin has resolved his last ownership challenge. The Fed is expected to announce an interest rate hike on Wednesday and traders will be looking to theFed language for clues on further increases.
• Average price of cash nickel so far this month - $6.15/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Aluminium hits 3-month low as caution before Fed hurts metals - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Time To Buy Some Nickel Miners - more
• Stocks Slide With Commodities; Treasuries Retreat: Markets Wrap - more

     Friday's market review - Copper hits one-week low on dollar and politics; China hopes limit falls - Copper hit a one-week low on Friday as the dollar recovered and concerns lingered that U.S. tariffs could provoke a trade war, though hopes for strong growth in China kept losses in check. - more

     Mark Selby: “Nickel Has Strong Fundamentals Even Without the EV Story” - Mark Selby, president and CEO of RNC, shares his thoughts on the nickel market and what’s ahead for his company in this PDAC 2018 interview. - more

     Russian billionaire Potanin buys 2 percent of Nornickel from Abramovich - Russian billionaire Vladimir Potanin’s Interros Holding said it had completed the purchase from businessman Roman Abramovich of a 2 percent stake in Norilsk Nickel, which has been the subject of a legal battle. - more

     Ni SUS Scrap Price in mid-Mar Has Mood to Drop = JPY150,000/ton, and price falls preceded by export = As of March 12, many of the stainless steel mills in the Kanto area purchase nickel-containing stainless steel scrap (SABOT) at around JPY150,000 per ton (delivered at plant). (Hereinafter, the price is per ton) - more

     Fears for miners’ rights - Small miners in the northern Goldfields are concerned they could be signing away their rights to a WA pastoral company owned by one of the world’s largest conglomerates, which is requesting they put pen to paper on private agreements to remove objections to their leases. - more

     PCs will stand up for North, Ford says - Doug Ford says it's time to stop dilly-dallying around with development of the Ring of Fire chromite deposits in northwestern Ontario and get the shovels in the ground. - more

     China’s steel prices, margins fall despite output curbs - China's steel output rose in the November-February period, despite production cuts being imposed in some cities, pushing prices and profit margins lower. - more

     There Are 316 Men Leading Commodity Houses and Only 14 Women - In the top echelons of leadership at the world’s biggest commodity traders, less than 5 percent are women. - 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 news and information free of charge. Contact us

Thursday, March 15

• Three month nickel closed Wednesday's trading session at $6.28/lb . Indicators at 615 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses fell slightly on Wednesday and total just under the 325,400 tonne level. Nickel has apparently settled back into the higher end of its long time trading range, gathering momentum for another attempt at defeating resistance, or has run out of gas from the most recent charge. We tend to lean toward believing the first is probably more realistic, as the market has a lot of bull left in it (pun intended). Inventories are worth mentioning. Last year, stockpiles began the year at 372,966 tonnes and ended the year at 367,776 tonnes. Basically  a change not worth mentioning. Stockpiles are down 42,000 tonnes already this year, over 10,000 tonnes this month alone. A lot of "safety" stock remaining, so no need for concern, but it does tell us that demand is finally exceeding supply. Cancelled warrants remains over 39%, telling us someone is busy producing - or investing bullishly. ISS reports stainless steel production increased 5.8% last year worldwide. This is our final update for the week so we hope each of you has a safe and enjoyable weekend.  
• Average price of cash nickel so far this month - $6.14/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - LME aluminium hovers near 3-mth low on China smelter ramp up - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• 6 Key Questions About Commodities And Investing - more
• Canadian Crude Is Finding a New Way to Asia Without a Pipeline - more
• Commodities Outlook: Metals recover sharply, Crude trades steady ahead of inventories - more
• Global Stocks Advance, Bonds Take Respite From Fed: Markets Wrap - more

     Wednesday's market review - Mounting LME inventories undermine zinc prices - Zinc prices slipped on Wednesday as inventories in London Metal Exchange-approved warehouses climbed, but support came from expectations of stronger demand in top consumer China. - more

      RNC's Mark Selby dispels myths regarding nickel demand as new EV markets beckon - Tightening long-term fundamentals for nickel are sketching a rosy picture for the stainless steel-making ingredient, as increased dependence from the burgeoning electric vehicle (EV) market adds a growing new demand stream in an already constrained supply scenario. - more

     Stainless Steel Production Reached 48.1 Million Metric Tonnes in 2017 - Brussels 15 March 2018 – The International Stainless Steel Forum has released figures for the full year 2017 showing that stainless steel melt shop production increased by 5.8% year–on–year to 48.1 million metric tons. - more

     Glencore signs massive cobalt sale deal with China's GEM - Glencore Plc, the world's biggest producer of cobalt, has agreed to sell around a third of its cobalt production over the next three years to Chinese battery recycler GEM Co Ltd, according to a filing by GEM on Wednesday. - more

     Fjordland to fund Commander Resources’ South Voisey’s Bay exploration program - Commander Resources Ltd. has announced that project partner Fjordland Exploration Inc. will shell out $1.2 million for the exploration of the South Voisey’s Bay nickel-copper-cobalt project in Canada, Mining.com reported. - more

      Proclamation 9705 of March 8, 2018 - Adjusting Imports of Steel Into the United States - more

• Proclamation 9704 of March 8, 2018 - Adjusting Imports of Aluminum Into the United States - 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 news and information free of charge. Contact us

Wednesday, March 14

• Three month nickel closed Tuesday's trading session at $6.29/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 325,400 tonne level. Nickel is flirting with the $14,000/tonne level this morning, having now gained $800/tonne since Friday. And while the trading price remains in the high end of its month long trading trend, it does appear to want to test that line of resistance, having bounced off support just last week. News remains on the light side, with political uncertainty in the US helping the Euro to remain strong, while the Chinese street index we follow is down sharply this week, as is the stainless steel price index in China.
• Average price of cash nickel so far this month - $6.12/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - London copper climbs on China data, but US tariff worries drag - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Sudbury economy to be flat in 2018: report  - more
• The race is on for exclusion from Trump tariffs - more
• Aluminium through the looking glass after Trump's tariffs: Andy Home - more
• (SO) NBS: China’s crude steel output up 5.9 percent in January-February
• US 232 could redirect 13 million mt of steel to Europe: EUROFER - more
• (MB) Nickel premiums at decade highs in Europe as LME nickel inventories continue to fall
• Stocks Gain as China Data Lift Miners; Dollar Dips: Markets Wrap - more

     Tuesday's market review - Aluminium supported as China seen sustaining supply cuts - Aluminium prices inched higher on Tuesday on speculation China may sustain supply cuts after winter production curbs expire in two days. - more

      Kazakhstan firm eyes Zim mining sector - Controversial Kazakhstan-based mining firm, Eurasian Resources Group (ERG), is targeting to increase its footprint in the Zimbabwean mining industry. - more

      Afarak Granted Mining Right For Vlakpoort Mine In South Africa - Alloys producer Afarak Group PLC said Wednesday that it has been granted a new mining right for the Vlakpoort mine located in the Bushveld complex in South Africa. - more

     Rare metal miners dig into used batteries for lithium and cobalt - As the era of the electric vehicle dawns, global resource players are working to establish networks and technologies for collecting and recycling valuable materials used in rechargeable batteries. - more

      Economic Watch: Chinese steel makers post fat profits amid capacity cuts - China's listed iron and steel producers have posted strong profits for 2017 as the country's production capacity cuts reduced outdated supply and led to rising steel prices. - 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 news and information free of charge. Contact us

Tuesday, March 13

• Three month nickel closed Monday's trading session at $6.20/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just under the 326,400 tonne level. Nickel trading has turned choppy after spiking on Friday. Very slow news day, with Europe reportedly telling its members to expect an exemption from the Trump steel tariff shortly.
• Average price of cash nickel so far this month - $6.10/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Shanghai aluminium slips to lowest since Dec 2016 on oversupply fears - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• China accuses Trump of damaging global trade - more
• Factbox: Trump's steel, aluminum trade tariffs, Mar 12 - more
• Stocks Climb With Dollar Before CPI; Yen Retreats: Markets Wrap - more
• La Niña ends, El Niño-Southern Oscillation returns to neutral - more

     Monday's market review - Aluminium slips ahead of Chinese smelter restarts - Aluminium slipped to its lowest in almost three months on Monday, three days before the end of winter output curbs in top producer China, as investors worried that supplies are too plentiful to keep prices near six-year highs. - more

     Vale, Glencore approve Sudbury projects - Vale and Glencore are digging deep to dig deep. Each company is committing about $700 million to develop new mines and will be using cutting-edge, automated machines to reach the ore located more than two kilometres below the surface. - more

     Ni SUS Scrap Price in Kanto in Mar Starts With Unchanged Price = JPY150,000 - 155,000, and some of pickup traders lower price this week = As of March 6, many of the stainless steel mills in the Kanto area purchase nickel-containing stainless steel scrap (SABOT) at around JPY150,000 - JPY155,000 per ton (delivered at plant). Trading started with a price remaining unchanged from the prior month. - more

     Courtesy AISI - In the week ending on March 10, 2018, domestic raw steel production was 1,813,000 net tons while the capability utilization rate was 77.8 percent. Production was 1,716,000 net tons in the week ending March 10, 2017 while the capability utilization then was 73.6 percent. The current week production represents a 5.7 percent increase from the same period in the previous year. Production for the week ending March 10, 2018 is down 1.1 percent from the previous week ending March 3, 2018 when production was 1,834,000 net tons and the rate of capability utilization was 78.7 percent. - more

    China's top steelmaking city deepens output curbs to extend war on smog - China’s top steelmaking city of Tangshan will order some steel mills to cut production by as much as half to improve air quality, after curbs put in place during winter expire in March, the government said on Tuesday. - 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 news and information free of charge. Contact us

Monday, March 12

• Three month nickel closed Friday's trading session at $6.29/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the week just under the 326,800 tonne level. LME nickel statistics show cancelled warrants jumped from 30.43% on Wednesday to 38.83% on Thursday. This is a staggering increase in "sold" inventory in one day. One must keep in mind however, that just because inventory is "sold" does not mean the buyer will use the product. And considering the increase was so large and in one day, we suspect that some large trading house, or houses, decided the bull market was in serious jeopardy and decided to shake up the market with some huge purchases. We didn't find 38% last year, but did find the high 37% range hit in September-October last year. Whatever happened, it was apparently successful as nickel, which had closed below technical support on Thursday, jumped on Friday and closed comfortably in its near month long range of $6.06/lb to $6.33/lb. So far today, the market is holding onto Friday's gains. Could be an interesting week. Will bullish traders find enough gas to push north of the range, or will this spike turn out to be a dead cat bounce? Stay tuned.  
• Average price of cash nickel so far this month - $6.08/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Shanghai aluminium marks lowest close in 14 mths ahead of smelter restarts - more
• Reuters Daily Inside Metals - pdf here
• U.S. Exports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• 'Totally against' Coniston smelter: Vagnini - more
• China doesn't want trade war with U.S.: commerce minister - more
• Trump Signs Tariff Order on Metals With Wiggle Room for Allies - more
• Are The Bears Winning the Power Struggle For DJ-UBS Nickel TR Sub-Idx ETN - more
• Stocks Rally on Upbeat Outlook; Dollar Declines: Markets Wrap - more

     Friday's market review - Metals recover after plumbing multi-month lows on U.S. tariffs - Metals recovered after sliding earlier on Friday, lifted by upbeat U.S. wage data that dented the dollar and soothed inflation worries, although gains were capped by ongoing concerns that new U.S. tariffs would stoke a trade war. - more

     Indonesia projected to lead in global nickel production - Growth in global nickel production is expected to accelerate in 2018, driven by Indonesia's ongoing recovery since 2017 and a rebound in production from major markets such as Australia, Canada and Russia, according to Fitch Group think tank BMI Research. - more

     China's Import and Export Results of Nickel in January 2018 - According to the foreign trade statistics of China, the import and export results of nickel-containing products in January 2018 are as per the table below. - more

• Chinese Nickel Imports Plunged As Russian Supplies Halved - more

     Mismanagement plagues ferrochrome plant - A state-owned ferrochrome plant at Jajpur Road is plagued by mismanagement, a report said. The company has faced a loss of Rs 14.34 crore in between 2013-14 and 2016-17 financial years - more

     Botswana pays Russia's Norilsk Nickel $45 mln to settle mine sale dispute - Botswana has paid Norilsk Nickel $45 million to settle a dispute after its state-run mining company pulled out of buying a stake in a South African mine from the Russian firm, the minerals minister said on Friday. - more

     Rusal allows Abramovich's company to sell part of its stake in Norilsk Nickel - Rusal has allowed Crispian Investments, which is controlled by Roman Abramovich, to sell part of the stake in Norilsk Nickel, attorney at the aluminum company Christopher Paymont said at a court hearing on Thursday. - more

     LME rethinks cobalt contract for electric vehicle sector - The London Metal Exchange has abandoned plans for a cobalt sulphate contract for the electric vehicle battery supply chain because pricing for the chemical has historically been based on the metal it is derived from, cobalt industry sources 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)
• 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 news and information free of charge. Contact us

Thursday, March 8

• Three month nickel closed Wednesday's trading session at $6.17/lb . Indicators at 6:25 am CST today show 3 month nickel trading around  $.13/lb lower. Stockpiles of nickel stored in LME approved warehouses rose for only the eighth time this year on Wednesday and now total just under the 330,900 tonne level. Nickel fell again yesterday, as the market questions 'will he or won't he' on steel and aluminum imports'. We may know today whether President Trump imposes tariffs, how much, and upon whom  he will impose them. Nickel is trading below its recent range this morning, and if it ends the day below the next few days, we could see the market turn bearish. The Chinese steel index soured overnight and stainless steel price index for China actually fell slightly from last week. The Euro has recovered from March 1st lows, but for the most part, has remained rangebound since late January. This is our last update for the week and we hope each of you has a relaxing and safe weekend.
• Average price of cash nickel so far this month - $6.10/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Nickel slides with others on trade war fears, steel losses - more
• Reuters Daily Inside Metals - pdf here
• U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Europe has an "arsenal of weapons" to respond to Trump's tariffs: EU's Moscovici - more
• Goldilocks Under Threat According to These Three Bear Charts - more
• Amur Minerals starts work on access road to Kun-Manie project - more
• Cover Story: A commodity super cycle in the making? - more
• Uber's self-driving trucks now transporting freight - more
• AIIS Supports Call for Urgent Action in the Global Forum - more
• Steel output cuts the 'new normal' in smog-prone China -exec - more
• Steel tariffs chill: Farmers fear Chinese retaliation - more
• (SMM) China's nickel pig iron production in February stood at 34,400 mt, down 6.9% month on month but up 6.1% from February 2017.
• Stocks Climb, Bonds Mixed as Trade War Fears Ease: Markets Wrap - more

     Wednesday's market review - Aluminium at lowest since Dec on rising expectations of U.S. import tax - Aluminium prices slid on Wednesday to near three-month lows as the prospect of U.S. tariffs were bolstered by the resignation of a key advocate for free trade, while base metals generally came under pressure from worries about a trade war. - more

     Antam’s nickel, bauxite production to skyrocket in 2018 - State-owned diversified miner PT Aneka Tambang (Antam) plans to significantly increase its production and sales of nickel ore and bauxite in 2018, benefiting from the government’s policy to relax the mineral ore export ban that started early last year. - more

     Inflation’s back and commodities will benefit, JPMorgan says - Inflation’s back and raw materials stand to benefit, according to JPMorgan Chase & Co, which has raised price forecasts for metals. - more

     Norilsk Nickel Foresees Notable Decline in Nickel Deficit in 2018 - The nickel prices, after performing weakly during the first half of 2017, managed to recover during H2 2017, on the back of robust global stainless and alloys demand. - more

     Negotiations on CR Austenitic Stainless Sheets in East Asia Begin = For April shipment = Negotiations on cold-rolled (CR) austenitic stainless steel sheets have begun in the East Asian region for April shipment. - more

     Is it time to recycle more nickel? - Before we talk about nickel, let me give you some background on the metal industry. Now you might think me a little sad, but I have to confess that as a metallurgist, I always find it interesting just how closely the history of mankind is linked to advances in metal working. - more

     Architecture, Building & Construction - Stainless steel has been used in architecture, building and construction since its invention. Iconic architectural projects like the Chrysler (1930) and Empire State Buildings (1931) featured in Lasting Landmarks (Nickel Magazine) exemplify its durability and lasting beauty. - 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 news and information free of charge. Contact us

Wednesday, March 7

• Three month nickel closed Tuesday's trading session at $6.21/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME approved warehouse fell on Tuesday and now total just over the 330,400 tonne level. The news that Gary Vohn, President Trump's top economic adviser , has resigned came as a shock to an already nervous market, and prices are lower this morning. Mr Cohn was the economic voice of reason in the White House and reportedly against the recently announced intention to impose 25% tariff on steel imports and 10% on aluminum. His resignation puts the prospects that the President will go thru with these tariff's more likely, which is shaking the market again. Nickel bounced off support yesterday and although lower today, the bounce sent a technically positive signal. Another technical trader we follow is calling for a possible pull back to $5.80/lb, so we will have to wait and see. Busy news day yesterday, less so today.
• Average price of cash nickel so far this month - $6.11/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Metal prices slip as trade war concerns resurface - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• SMM - China produced 12,200 mt of refined nickel in February, down 13.9% from the same month last year.
• Norilsk Nickel 12-month IFRS net profit decreased by 16% in 2017 - more
• Global Stocks Drop on Trade Gloom; Bonds Advance: Markets Wrap - more

     Tuesday's market review - Surging stocks push zinc to 10-week low, copper rebound - Copper prices rose by the most in almost a month on Tuesday, helped by a weaker dollar and expectations of strong demand in China, while zinc touched its lowest since December after an increase in stocks calmed fears about availability. - more

     Output of PHL’s second-largest nickel producer hits 3-year high - Global Ferronickel Holdings Inc, the country’s second-largest nickel producer, said its nickel output in 2017 rose to a three-year high of 6.153 million wet metric tons (WMT), amid higher metal prices and cost-efficient operations. - more

     Russia's Nornickel sees rising battery demand boosting nickel use - Russian mining firm Norilsk Nickel said on Tuesday rising use of batteries in electric vehicles would create strong demand for nickel from the 2020s. - more

     Daimler's R&D chief sees nickel rich batteries gaining traction - The car industry is moving towards making electric car batteries with a higher ratio of nickel, Ola Kaellenius, Daimler board member responsible for research and development, said on Tuesday. - more

     Palmer's nephew appealing against warrants - Clive Palmer's nephew is appealing against warrants issued after he failed to attend court for questioning over the collapse of Queensland Nickel. - more

     Stainless steel is crucial in fight against infection - Stainless steel’s many qualities ensure it is a vital part of maintaining the sanitary environment of operating theatres and hospitals. - 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 news and information free of charge. Contact us

Tuesday, March 6

• Three month nickel closed Monday's trading session at $6.09/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started today just under the 332,100 tonne level. Base metals are mixed this morning, but mostly higher, as markets begin to wonder if the Trump tariff's will actually happen, with Republicans asking him to reconsider. It's been nearly 23 hours since we have gotten a Tweet on the subject, so who knows. Lot of industry news today, with nothing a major market mover. We remain rangebound, although prices are now trading on the low side of the range and with $6.06/lb as support, they haven't much room to move lower, without threatening a change in the overall trendline.
• Average price of cash nickel so far this month - $6.09/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Surging stocks push zinc to 10-week low, copper rebounds - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Sault among Northern cities vying for plant  - more
• SO - CISA: Iron ore prices in China continue to rise during February
• Trump's metal tariffs put spotlight on US-China commodity trade - more
• EU Raises Stakes for Trump With Tariffs Targeting GOP Heartland - more
• Goldman Sachs Rips Into Trump’s Tariffs Plan - more
• Stocks Rise as Trade Talk Rumbles On; Gold Climbs: Markets Wrap - more

     Monday's market review - Zinc hits 2018 low as stocks jump, U.S. tariffs loom - Zinc slid to its lowest this year on Monday, falling for a fifth consecutive session as inventories surged and concerns about proposed U.S. trade tariffs weighed on metals used in steel manufacturing. - more

     Finland's former Talvivaara files for bankruptcy - Finland’s Ahtium Oyj, previously named Talvivaara Mining Company, which ran a troubled nickel mine in northern Finland, has filed for bankruptcy after failing to secure financing for future projects, it said on Tuesday. - more

     The Oligarchs’ Feud That Will Affect Electric Cars - Russian billionaires are feuding over control of a giant natural-resource business that dates back to the Soviet era. - more

     Lukas Lundin Chases Base-Metal Buy With $3 Billion Budget - Sweden’s billionaire Lundin family is looking to spend as much as $3 billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project. - more

     PNG cobalt, nickel demand to rise - PNG cobalt and nickel is positioned well to supply the demand for electronic-powered vehicles and energy storage batteries over the next 20 years. - more

     Nornickel 2017 net profit fell more than expected - Russia’s Norilsk Nickel reported a 16 percent drop in 2017 net profit on Tuesday due to a smaller foreign exchange gain, but was optimistic about prospects for its largest revenue generator palladium, saying a market deficit could widen. - more

     Courtesy AISI - In the week ending on March 3, 2018, domestic raw steel production was 1,834,000 net tons while the capability utilization rate was 78.7 percent. Production was 1,747,000 net tons in the week ending March 3, 2017 while the capability utilization then was 74.9 percent. The current week production represents a 5.0 percent increase from the same period in the previous year. Production for the week ending March 3, 2018 is up 2.9 percent from the previous week ending February 24, 2018 when production was 1,783,000 net tons and the rate of capability utilization was 76.5 percent. - more

     Clive Palmer to suffer reputational stigma if assets frozen, court hears - Clive Palmer and his companies would suffer a “very significant reputational stigma” if a judge freezes his personal and corporate assets, a court has heard. - 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 news and information free of charge. Contact us

Monday, March 5

• Three month nickel closed Friday's trading session at $6.10/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and started the week just over the 333,600 tonne level. Nickel appears to be testing support this morning, which we have at $6.06/lb. It fell as low as $6.04/lb earlier, but now appears to have steadied somewhat, just above the support line. President Trump's surprise announcement of a 25% steel import tariff and a 10% aluminum import tariff, has thrown many markets into uncertainty, and base metals are no different. We will not join in the chorus of "what if" scenario's, but leave that to the metals pontificators. Cancelled warrants are quietly jumping higher, from under 26% two weeks ago, to over 31% this morning, We see this as a bullish sign, as some are apparently betting prices will increase in the future. Cash nickel averaged $6.15/lb in February, and $5.83/lb in January. Where will it trade in March?
• Average price of cash nickel so far this month - $6.11/lb
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Zinc hits two-month low as stocks jump, U.S. tariffs loom - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Xi, leader for life wins, but China loses - more
• Why South Africa Is Ripping Up Its Mining Rules Again - more
• CanAlaska stakes third nickel-cobalt project in Thompson Belt - more
• Stocks Mixed Amid Trade Fears; Italian Bonds Drop: Markets Wrap - more

     Friday's market review - LME aluminium steadies, supported by race to beat new U.S. tariffs - more

     Will zinc retain its base metals crown in 2018? - Zinc, nickel and copper markets are on the front foot at the start of 2018. - more

     China’s Staggering Demand for Commodities - It’s said that in China, a new skyscraper is built every five days. China is building often, and they are building higher. In fact, just last year, China completed 77 of the world’s 144 new supertall buildings, spread through 36 different Chinese cities. - more

     How Battery Chemistry Assumptions Distort Nickel And Cobalt Demand Forecasts - Over the last two decades, lithium-ion battery manufacturers have aggressively pursued advanced cathode formulations that partially replace expensive cobalt with cheaper nickel. - more

     EU Stainless Cold Rolled Coil Prices Stable as Surcharges Rise - Demand decreased, slightly, in Germany, this month, compared with that in January. Stockists’ inventories are at a healthy level. - more

     China to cut more coal, steel output to defend 'blue skies' - China’s state planner pledged on Monday to cut more steel and coal production capacity this year, putting the country on track to beat its long-term targets, as Beijing reinforced its vow to beat smog and make“skies blue again”. - more

     Merafe Resources pays its highest dividend to date after record ferrochrome output - Merafe Resources, which has as its sole asset a 20.5% stake in a chrome joint venture with Glencore, paid a record dividend for 2017 based on unsurpassed revenue after record-high ferrochrome output, to capture improved prices for the stainless-steel ingredient. - more

     IMF warns that steel, aluminum tariffs will likely hurt economies - The International Monetary Fund warned on Friday that U.S. import restrictions on steel and aluminum will cause widespread economic damage, including to the U.S. economy, and urged Washington and its trading partners to resolve trade disagreements. - more

• Canada retaliation in U.S. tariff row 'like grabbing your own throat' - more
• New tariffs to raise steel, aluminum prices - more
• Trump walks into a trade-war trap - 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 news and information free of charge. Contact us

Thursday, March 1

• Three month nickel closed Wednesday's trading session at $6.26/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME approved warehouses rose for only the seventh time this year and now stand just over the 335,500 tonne level. Nickle is lower this morning and at least one technical analyst is warning there could be a larger retreat. Nickel has broke out of a tight range to the low side that it has traded in over the past few weeks, but we show it still has a way to go before it hits support at $6.06/lb. Short term technicals have termed negative and neutral, while long term technicals remain positive. According to SMM, nickel orders since the Chinese holiday have not recovered as fast as forecast. This, with a lower steel sector PMI in that country, has raised some eyebrows. This is our last update for the week, so we hope each of you has a safe and enjoyable weekend and invite you back on Monday.
• Average price of cash nickel so far this month - ($6.16/lb - average Feb 18)
• Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

• Reuters metals morning - Lead hits 2-1/2 month low on firm dollar and weak shares - more
• Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price - more
• Yieh Daily Asian Stainless Steel News - more
• Baltic Dry Index - (chart)
• Alloyed for Lasting Value video - here
• Self Repairing for Lasting Value video - here
• Steel Orbis - China's steel sector PMI decreases to 49.5 percent in February
• To Our AIIS Members, Friends, and Interested Parties: - more
• Emerging crisis in quake-hit PNG region - more
• U.S. GDP growth revised down to 2.5 percent in Q4  - more
• Trump Likely to Impose Stiff Steel, Aluminum Tariffs - more
• Global Stocks Slide, Treasuries Rise Before Powell: Markets Wrap - more

     Wednesday's market review - Copper slips after China data disappoints and dollar gains - Copper prices sank to their lowest in over two weeks on Wednesday as the dollar advanced on prospects of higher interest rates and growth in China’s manufacturing sector slowed in February. - more

     Press Release - For the month of March 2018, North American Stainless will maintain the fuel surcharge of 25% for stainless flat and long products. The surcharge rate is considered a maximum level for March and will be reviewed monthly. - source

     Vale aims to cut nickel output costs as world glut looms - Brazil’s Vale, the world’s no. 1 nickel producer, plans to save well over $150 million by reducing costs across its nickel operations, which have notched positive cash flow for the past two months, company executives said on Wednesday. - more

• Vale looks to cut costs at nickel operations  - more

    Nickel's downstream PMI in Feb at 38.4 – The final purchasing managers' index (PMI) for downstream nickel industries in February stood at 38.4, better than expected, SMM data showed. - more

     Rising Costs and Section 232 Drives US Stainless Steel Prices Upwards - Global stainless steel transaction values increased, in February, reflecting the rising cost of raw materials – in particular, nickel and ferromolybdenum. - more

     Billionaire Lundin Chases Base-Metal Buy With $3 Billion Budget - Sweden’s billionaire Lundin family is looking to spend as much as $3 billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project. - more

     Mining firm fined $1.3M after workers killed by falling material - Former mining firm First Nickel Inc., now out of business, was fined $1.3 million following a trial in Sudbury, Ont. recently for offences related to the deaths of two miners caused by falling material. - 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 news and information free of charge. Contact us

February Archives

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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.