This
page is archived news covering the period of May 2013
If you are looking for current daily market news, please visit
here.
Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Friday, May 31
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.72/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading mostly lower as well. All changes so far
continue to be minor and markets remain quiet. Stockpiles of nickel stored
in LME approved warehouses fell on Thursday and now total just under the
179,800 tonne level. Inventory levels gained 2,760 tonnes over the last month.
LME traded 3 month nickel closed yesterday at the same amount it did on the
first day of May. Shanghai nickel fell 4.2% during the month, while India
traded nickel by 1%. Our daily China stainless steel index fell 3.8% during
the month of May, while two others we follow in China, fell 3.1% and 4.8%
respectively. LME 3 month nickel has spent most of the month bouncing off
a $6.69 to $6.70/lb floor, but has been unable to establish solid footing
for an increase that will stick. Nickel buyers are getting what they have
wanted for years - a stabile nickel price. The only problem is the reason
traders are ignoring nickel and leaving that price stabile, is partially
due to the lack of demand from the very stainless steel buyers who crave
the stability in the price of nickel. Nickel miners are sweating the lower
pricing and the Norilsk nickel presentation linked below gives a good breakdown
of what it is costing different mining companies to produce nickel. We expect
very little today, even with the Euro down against the US Dollar. It's month
end for traders, and there is little to give them any reason to be optimistic
enough to start betting long for June. Have a safe and restful weekend!
Average price of cash nickel so far this month - $6.78/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
Gerhard Ammann appointed permanent chairman at ENRC -
more
(MF) Yusco cuts stainless steel prices for June
Ancient Egyptians wore jewellery made from meteorites: Scientists -
more
Presentation of MMC Norilsk Nickel at VTB Capital Investment Forum: Russia
calling! -
pdf here
BIR Stainless Steel World Mirror May 2013 - Global: The following article
is based on the latest Stainless Steel & Special Alloys World Mirror
produced by the BIR world recycling organisation for the benefit of its members.
-
more
Glencore
Xstrata South African Chrome Mines Disrupted by Strikes - Glencore Xstrata
Plc, the world’s fourth-biggest mining company, said production at three
South African chrome sites has been disrupted by wildcat strikes. -
more
Steel industry
output rises against slowing sales - China's steel industry made 153 million
yuan ($24.72 million) in profits in April, the fourth monthly decline, according
to the China Iron and Steel Association on Wednesday. -
more
China's Imports
& Exports of Ferroalloy in April, 2013 = Export is 47,508 tons and import
is 132,113 tons = According to China's customs statistics, the exports of
ferroalloy in April, 2013 were 47,508 tons, substantially down by 40.0% from
the prior month. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.71/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading unchanged, with other London
traded base metals mostly higher, but for a second consecutive session, with
little movement noted. Stockpiles of nickel stored in LME approved warehouses
registered a new all time record high of 180,492 tonnes after a second
consecutive rise yesterday. With Norilsk sea shipping having been halted
for the last two weeks, continued growth and hitting new record high stockpiles
is not good news for nickel miners. The $6.70/lb mark continues to
play a psychological support line for nickel traders. Asian markets
ended lower overnight, European equity markets are trading higher, and US
futures show a bounce off yesterday's 100+ initial point loss is likely.
Metals, on the other hand, continue their sleepy pattern, and have broken
from a history of following extreme up or down daily movements witnessed
in equity trades.
Average price of cash nickel so far this month - $6.79/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(SSY) According to the latest SteelBenchmarker published by World Steel Dynamics,
the world export price of hot rolled band has fallen steadily for the last
three months to $546/t from $608/t. This represents the lowest level since
mid-November last year. The HRB price in China reached an 8-month low of
$484/t while the price in the US recorded their lowest level since November
2010 of $637/t.
(SO) According to statistics released by Japan's Ministry of Finance, Japan's
nickel ore imports totaled 507,102 metric tons in April this year, rising
slightly by 0.4 percent month on month and up 40.35 percent compared to April
2012. In the first four months of the year, Japan's nickel ore imports amounted
to 1.7 million metric tons, increasing by 31 percent year on year.
Iron Ore Seen at $100 by Morgan Stanley Offers Chance to Buy -
more
Chinese domestic
ferrochrome prices edge higher on rising ore - Chinese domestic prices for
high carbon ferrochrome (50% basis Cr) were assessed at Yuan 7,000-7,100/mt
(86-87 cents/lb), delivered with 17% VAT on Wednesday, up from Yuan
6,900-7,100/mt as ferrochrome producers lifted offer prices due to higher
chrome ore prices and bullish sentiment. -
more
MSCI: Service
Center Shipments Level Off in April - The trend of declining service center
shipments eased in April in both the United States and Canada, according
to the latest data from the Metals Service Center Institute, Rolling Meadows,
Ill. -
more
Publication
Announcement: World Steel in Figures 2013 - The World Steel Association
(worldsteel) has published the 2013 edition of World Steel in Figures. It
is now available on -
more
Renaissance
man of steel - Dutch artist Ronald A. Westerhuis had a stable and successful
career as an offshore gas worker. But then he decided to throw it all away
to follow his passion and become a sculptor using his favorite material -
stainless steel. -
more
Iron in Egyptian relics came from space - The 5,000-year-old iron bead might
not look like much, but it hides a spectacular past: researchers have found
that the ancient Egyptian trinket is made from a meteorite. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, May 29
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.75/lb. Indicators at
7:00 am CST today show 3 month nickel trading with no change, wth other London
traded base metals trading mixed and quietly. Stockpiles of nickel stored
in LME approved warehouses rose on Tuesday and now total just over the 179,800
tonne level. The International Monetary Fund cut its 2013 China growth forecast
from 8% to 7.75% and this has temporarily knocked the wind out of equity
markets. This came a day after Chinese Premier Li Keqiang told German business
leaders his country had plans for a 7% increase. Also hurting the market,
according to Marketwatch, is "The Organisation for Economic Co-operation
and Development warned on Wednesday that withdrawals by central banks from
monetary-easing programs likely will cause spikes in government-bond yields,
posing a risk to the outlook of the global economy." Nickel continues to
treat the $6.69/lb - $6.70/lb level as a support or psychological level,
while we show support at $6.53/lb. The Euro is trading much higher against
the US Dollar, and this would typically help boost commodity prices, but
with economic uncertainty, particularly in Asia, back in vogue, traders are
unwilling to take long term risks.
Average price of cash nickel so far this month - $6.79/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(SSY) China's daily steel production for 11-20 May edged down on the record
pace of the first ten days of May to 2.185 Mt, according to data from the
China Iron and Steel Association. However, this is the second highest daily
rate on record and production is 6.6% higher than the same period last year.
(SBB) China nickel ore imports dip 11% m-o-m in April
China Steelmakers Challenge Platts Iron Ore Pricing: Commodities -
more
(China) China's economic growth to remain stable: Moody's -
more
Jiaxing Fastener Exports Continue to Drop in Q1 -
more
China's April
Production of Ni Pig Iron Is 37,600 Tons in Pure Ni Equivalent =Up by 15%
from year-earlier month, good effect of curtailment of production cost by
RKEF method= According to the local media, China's production volume of nickel
pig iron in April was 37,600 tons (in pure Ni equivalent), up by 14.6% from
the year-earlier month (32,800 tons). -
more
Mwana
Africa’s CEO Considers Restarting Zimbabwe Nickel Smelter - Mwana Africa
Plc, a producer of nickel, gold and diamonds, is considering restarting its
nickel smelter in northeastern Zimbabwe after a drop in prices eroded profit
margins on supplying the metal as concentrate. -
more
Japan's Kobe
Steel to shut blast furnace in 2017/18 - Japanese Kobe Steel Ltd said on
Wednesday it would shut a blast furnace and other upstream equipment at its
Kobe Works plant in western Japan in the year starting April 2017 to turn
around its loss-making iron and steel business. -
more
Courtesy AISI
- In the week ending May 25, 2013, domestic raw steel production was 1,850,000
net tons while the capability utilization rate was 77.2 percent. Production
was 1,970,000 tons in the week ending May 25, 2012, while the capability
utilization then was 79.2 percent. The current week production represents
a 6.1 percent decrease from the same period in the previous year. Production
for the week ending May 25, 2013 is down 2.8 percent from the previous week
ending May 18, 2013 when production was 1,904,000 tons and the rate of capability
utilization was 79.5percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, May 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.73/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading slightly higher. Stockpiles of nickel stored
in LME approved warehouses fell on Friday and now total just over the 179,350
tonne level. Nickel continues its sideways pattern, having traded within
a $.36/lb range, for the most part, since mid April. Official cash nickel
has bounced off the $6.70/lb twice this month. On Thursday and Friday of
last week if closed at $6.69/lb and is sending a weak technical signal that
a further drop could be in store. Whether this signal proves true or not,
remains to be seen, but the trend remains bearish. Equity markets around
the world are bullish today, but this enthusiasm has yet to ignite the commodity
market. With nickel the only industrial metals presently treading in the
red on the LME, the others are higher only slightly. With US markets closed
yesterday for Memorial Day and London markets closed for Spring Bank Holiday,
traders look to a shortened final week of May.
Average price of cash nickel so far this month - $6.81/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(SMM) Nickel market prices will remain weak for the foreseeable future, but
should find support at USD 14,609/mt.
(SSY) US steel imports in April rose 4.3% on March to 2.4 Mt, according to
preliminary data from the US Census Bureau. However, year-to-date steel imports
of 9.4 Mt represent a fall of 12% compared with the corresponding period
of 2012.
(SSY) The preliminary May reading for HSBC's Flash Manufacturing Purchasing
Managers Index for China fell to 49.6, its first sub-50 level since October
2012. A reading above 50 indicates growth and below 50 contraction.
Sumitomo
Metal Sees Record Japan Nickel Exports Adding to Glut - Nickel exports from
Japan may climb to a record this year as Prime Minister Shinzo Abe’s
stimulus hasn’t spurred demand in the third-biggest user, adding to
a global glut, the country’s top producer said. -
more
Otto quinlan's
expects 2013 global stainless steel consumption will be increased 4% year
on year - The world's largest stainless steel enterprise otto quinn's 22
to 23 in London held a two-day brand experience. -
more
China steel
drops to near 9-month low, iron ore swaps slide - Chinese steel futures dropped
more than 2 percent to their lowest in almost nine months on Monday and iron
ore swaps slid, pressured by soft demand in the world's biggest steel consumer
whose economic recovery may be at risk of stalling. -
more
Palmer
party recruits nickel refinery execs - Queensland billionaire Clive Palmer
has recruited staff from his nickel refinery business in the state's north
to contest seats at the federal election in September. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, May 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.78/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals slightly higher. Stockpiles of nickel stored in
LME approved warehouses fell on Thursday and now total just over the 179,600
tonne level. Equity markets are trading lower this morning while commodities,
for the most part, appear to be trading fairly quietly. Big news in the stainless
steel industry is Outokumpu's announcement it will be doing away with monthly
stainless steel surcharges and going to a daily surcharge model. This
announcement came after a disappointing quarterly earnings report last month.
If it helps Outo make more money, you can be sure that US stainless steel
producer's are watching the experiment closely. Our China stainless steel
price index reflects the continued deterioration in demand in that country.
We are entering the typically slow period for stainless steel consumption,
so we would be hard pressed to see any improvement until the fall at teh
earliest. Other indexes we monitor also reflect a continued decline. Have
a safe and relaxing weekend!
Average price of cash nickel so far this month - $6.81/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
Sherritt Considers Asset Sales Amid ‘Challenging’ Market -
more
China central bank switches to liquidity injection -
more
Belvedere
suspends operations at Hitura in face of low nickel prices - "The
continuing weakness in the nickel prices, in conjunction with permitting
delays, has left the company with little option but to suspend nickel operations
and commence temporary lay-offs," said CEO David Pym in a release Thursday.-
more
Domestic
Consumption of Nickel in January - March in 2013 =10,221 tons, down by 2%
compared with year-earlier period, but up meant for special steels= The Ministry
of Economy, Trade and Industry announced the domestic consumption of nickel
metal in the period from January - March in 2013 was 10,221 tons in pure
Ni equivalent, down by 2.0% compared with the year- earlier period. -
more
Most senators reject Xstrata Nickel’s planned mine -
more
UNDP Rejects Glencore Exploration at Dominican Nickel Mine - The United Nations
Development Programme said an environmental study conducted by Glencore Xstrata
Plc at a mine in the Dominican Republic is incomplete and ferronickel exploration
at the site should be reconsidered. -
more
ENRC
fears data loss from hacking and stolen laptop - The mining group Eurasian
Natural Resources Corporation, warned on Thursday that it may have lost internal
data as a result of computer hacking and the theft of a laptop. -
more
Norilsk
changes Africa, Australia CEOs, reports first quarter outputs - World number
one nickel and palladium producer MMC Norilsk Nickel (Norilsk) has announced
that the new CEO of Norilsk Nickel Africa is Michael Marriott, who was previously
the deputy director of Norilsk’s overseas production assets department
-
more
Steel
distributor Kloeckner to cut more jobs, sites - German steel distributor
Kloeckner & Co increased planned job cuts to more than 2,000, the third
time it has broadened the scope of its restructuring programme in less than
a year. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.84/lb. Indicators
at 7:00 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 rose again on Wednesday, with each consecutive
rise setting a new, and newsworthy, all time record high. Stockpiles now
sit at 180,024 tonnes. Commodities in general, and nickel in particular,
are down today after a double dose of negative news. First, yesterday's hint
that the Fed would slow down easing measures if the economy started to improve,
sent US stocks sharply lower, which carried into world markets this morning.
Secondly, China preliminary manufacturing PMI numbers fell into the negative
for the first time this year. Markets are now dealing with a dose of reality
that the recent bull rush the equity markets have been experiencing has been
disguising from all except commodity traders. Equity stock markets are so
addicted to the cheap money the Fed has flooded them with, that any talk
of pulling back is like telling a drug addicted patient they will be slowly
weaned from their abuse. Nickel opened much lower this morning and has seen
little movement since. Even a weaker Dollar has been unable to help. Market
news is nearly non existent today as the industry watches quietly and tries
to time buys effectively.
Average price of cash nickel so far this month - $6.82/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(Dow Jones) The global nickel market was in oversupply by 7,000 metric tons
in January to March, the World Bureau of Metal Statistics said Wednesday.
This compares to a 14,300-ton surplus in the same period of 2012.
(Dow Jones) BNP Paribas cuts its outlook on base metal prices for this year
and next .... The bank now sees .... nickel [averaging] at $17,075/ton [this
year].
(NB) Finland's Outokumpu is proposing to price alloys in its stainless steel
products on a daily rather than monthly basis to reflect cost volatility
and to limit speculation over the materials which form most of the price
of the high-end steel.
(MF) Taigang Stainless cuts domestic stainless steel prices for June
China May Factory Output Contracts in Test for Premier: Economy -
more
Commodities Drop on Double Blow of China Data, Bernanke Remark -
more
Crude SUS
Steel Production by Major SUS Steel Mills in March Is 280,319 Tons =Down
by 5% from prior month, affected by inventory adjustment for fiscal year
end= The crude stainless steel production by 7 major stainless steel mills
in March, 2013 was 280,319 tons, down by 4.7% from the prior month (294,083
tons). -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, May 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.85/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.09/lb
higher, with all London
traded base metals trading higher this morning. Stockpiles of nickel stored
in LME approved warehouses rose to anew record high on Tuesday and now set
at 1279,598 tonnes, beating the old record set last week by 42 tonnes. The
World Steel Association reported production of steel rose in April compared
to April 2012, with only the Asian region increasing and the rest of the
world slumping. Markets got a bounce yesterday with Fed Chairman Ben Bernanke
testifying before Congress today with traders looking for additional evidence
that monetary easing measures will not end anytime soon. The Euro is stronger
against the US Dollar this morning, which is helping give base metals a
boost.
Average price of cash nickel so far this month - $6.82/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(MF) It’s reported that the 7 major Japanese stainless steelmakers produced
280,319 tons of crude stainless steel in March, falling by 4.7% from 294,083
tons in February.
China's exports of gasoline beat imports on weak domestic needs -
more
Production
of Stainless Steel Products in March, 2013 Is 238,986 Tons =Up by 7% from
prior month, both Cr type and Ni type are increased= The Ministry of Economy,
Trade and Industry announced on May, 16 that the production volume of stainless
steel products (hot-rolled steel) in March, 2013 was 238,986 tons, which
was up by 7.2% from the prior month -
more
April
2013 Crude Steel Production - World crude steel production for the
63 countries reporting to the World Steel Association (worldsteel) was 132
million tonnes (Mt) in April 2013, an increase of 1.2% compared to April
2012. -
more
Illegal
strike continues at Lanxess - Workers at the Lanxess chrome mine in Rustenburg
are still on strike, the mine said on Wednesday. -
more
Oman-India
JV smelter to start operating next month - Oman's ferrochrome smelter, which
is a joint venture between Muscat Overseas Group and India's Indsil group,
will begin its trial operation next month. -
more
Iron Ore Seen
Extending Decline as China Steel Mills Shut Down - Iron ore will fall another
8 percent in the next several months as steel mills in China, the biggest
importer, shut down because of maintenance, power rationing and squeezed
profits, according to Deutsche Bank AG. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, May 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.86/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and quiet. Stockpiles of nickel stored
in LME licensed warehouses reported no change on Monday and remain just over
the 178,750 tonne level, after a large gain was recorded on Friday. Asian
markets ended lower, European equity markets are lower this morning, and
US market futures are lower as well. Little economic data due today, but
two US Fed presidents with voting rights on the interest-rate setting committee
are scheduled to speak and their speeches will be watched closely for clues
on the ending or extension of the Federal Reserve’s easing program.
Technically, nickel made a bounce off the $6.70/lb level yesterday for the
second time this month. The short and long term trend remain negative.
Average price of cash nickel so far this month - $6.82/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
Sucden Financial Quarterly Metals Report (nickel section starts on page
43) - pdf here
(SO) China's Ministry of Commerce (MOC) has announced that during last week
(May 13-19) the average steel price in China decreased by 0.4 percent compared
to the previous week.
Steel trader Duferco forced to finance clients as banks withdraw -
more
ENSO likely to remain neutral; a negative IOD favoured -
more
2012 is another record year for stainless steel production but increase uneven
- The International Stainless Steel Forum (ISSF) has released preliminary
figures for 2012 which show that stainless steel production grew by 5.2%
to reach a record high of 35.4 million metric tonnes (Mt). China accounted
for the increase in production, with other regions of the world showing negative
growth, mainly due to de-stocking.
-
more
ISSF releases new publications during ISSF-17 - The International Stainless
Steel Forum (ISSF) has released a number of new publications and animations
during the organisation’s 17th Annual Conference which is being held
in New Orleans, USA. All publications will be made available through ISSF’s
main website, www.worldstainless.org, after the conference. -
more
Security
guards fire rubber bullets at S.Africa strikers - Security guards at
a South African chrome mine owned by chemicals group Lanxess fired rubber
bullets at stone-throwing workers on an illegal strike, a spokeswoman for
the company said on Tuesday. -
more
Ten S.African miners hospitalised after chrome mine clash -
more
Baosteel
to cut capacity by 30% in Shanghai - Baosteel Group Corp has started piling
work for the No. 1 blast furnace of its Guangdong-based Zhanjiang plant,
seen as a "key battlefield" as it bids to cut 30 percent of its capacity
in Shanghai. -
more
Norilsk
Vice President Quits Following Shareholder Feud - Norilsk Nickel vice president
Vladimir Strzhalkovsky announced plans on Monday to quit the world's largest
nickel miner, which has been at the center of a shareholder battle for control
of the company for several years. -
more
Madam Luo
replaced as boss of Ramu mine - Zhao Shimin has recently been appointed as
board chairman of MCC Ramu and Ramu NiCo management to replace Madam Luo
Shu. -
more
Thyssen
Woes Tarnish 99-Year-Old Steel Baron’s Legacy - For 60 years, the name
of Berthold Beitz has been synonymous with Germany’s biggest steelmaker,
ThyssenKrupp AG, at first for his role in rebuilding the former arms supplier
and helping it break with its Nazi past. -
more
Courtesy AISI
- In the week ending May 18, 2013, domestic raw steel production was 1,904,000
net tons while the capability utilization rate was 79.5 percent. Production
was 1,970,000 tons in the week ending May 18, 2012, while the capability
utilization then was 79.2 percent. The current week production represents
a 3.4 percent decrease from the same period in the previous year. Production
for the week ending May 18, 2013 is up 1.2 percent from the previous week
ending May 11, 2013 when production was 1,881,000 tons and the rate of capability
utilization was 78.5 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, May 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.72/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and mostly lower. While global stock
markets are trading at five year highs on speculation governmental central
banks will be forced to continue to take measures in stimulating the world
economy, and thus, adding cheap money to the markets. Commodities, on the
other hand, are having a hard time drawing investment, with weak demand and
lower pricing, causing investors to look elsewhere. Friday's London close
was at the same level nickel closed on the first day of the month, while
Chinese and Indian nickel closed lower than they did the first of the month.
The Euro is trading at around $1.28 compared to $1.32 at the first
of the month.
Average price of cash nickel so far this month - $6.82/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(SO) The China Iron and Steel Association (CISA) has stated that in early
May (May 1-10) this year the average aggregate daily crude steel output of
large and medium-sized steel enterprises in China totaled 1.748 million mt,
up 2.7 percent compared to late April (Apr. 21-30).
(MF) According to statistics released by Japan’s Ministry of Economy,
Trade and Industry, Japan’s output of stainless steel products totaled
238,986 tons in March, increasing by 7.2% from a month ago.
(SG) According to data released by Japan’s Ministry of Finance,
Japan imported 505,158 tonne of nickel ores in March, jumping by 42.8% from
a month ago and increasing significantly by 70% YoY.
(Yieh) It’s reported that the US stainless pipe producers including
Bristol Metals, LLC, Felker Brothers Corp and Outokumpu Stainless Pipe, Inc
submitted an antidumping petition against imports of welded austenitic stainless
steel pressure pipes from Vietnam, Malaysia and Thailand.
Miner Kazakhmys could back potential bid for rival ENRC -
more
Russian steelmaker Severstal sees flat results in second quarter -
more
(China) Industrial energy use drops in April -
more
Norilsk
suspends Arctic shipments for seasonal halt - Russian metals giant Norilsk
Nickel suspended shipments from its Arctic port of Dudinka a few days ago
as flooding prompted a seasonal halt. -
more
Chinese
ferrochrome import prices seen coming under downward pressure - Offer prices
for high carbon ferrochrome imported into China were relatively stable on
Friday but could face downward pressure going forward due to weak demand
and rising supply, market participants said. -
more
Technical
forecast for Nickel for 19th May 2013 - Nickel unable to beat 15000 at the
end of last week & the outlook has turned more negative as we start a
new week. -
more
Eskom
was ‘on the brink of a power shutdown’ - Eskom "came as close to
the edge as you can get" last Monday evening when the available power supply
exceeded demand by a margin of only 0.17%, according to the company’s
own routine system status bulletin. -
more
Metal
production value falls 18 pct in 2012 - Metal production value in 2012 fell
18.04 percent in 2012 due to the suspension of operations of several mines
and lower gold purchases made by the central bank during the period. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, May 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.76/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mostly higher, but quietly. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and now total
just under 177,950 tonnes. This is the second day of declines since setting
a new all time record high of 179,556 tonnes. European stocks are trading
higher this morning and US market futures are higher. Marketwatch put it
this way this morning "The stock market will get another chance to go
all Wonder Woman on whatever economic indicators are fired off this morning,
just like it’s pretty much been able to do all week. And all earnings
season. A dip in housing starts? Ping! Rising jobless claims? Clack! Weakness
on the manufacturing front? Tzing! A complete halt to the Fed’s cash
infusion flood? Well, she might need to warm up the invisible jet when that
time comes." Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.83/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(SO) According to statistics released by Japan's Ministry of Finance, Japan's
nickel ore imports totaled 505,158 metric tons in March this year, rising
by 42.8 percent month on month and up 70 percent compared to March 2012.
In the first quarter of the year, Japan's nickel ore imports amounted to
1.2 million metric tons, increasing by 27.5 percent year on year.
The History of Stainless Steel – Celebrating 100 Years -
more
Mine union threatens to bring South Africa to "standstill" -
more
China's daily steel output hit record high in early May-CISA data -
more
(China) FDI growth up for third consecutive month -
more
EUROFER: shift to low carbon economy creating enormous tensions -
more
Can the Anticipated 2013 Nickel Surplus be Reduced? - Nickel had a rough
2012, and so far it looks like 2013 will not be much better — that is,
unless the market sees some key changes. -
more
European
stainless steel producers divided over alloy surcharge - European stainless
steel producers remain divided over whether an alloy surcharge for customers
is hurting the industry. -
more
China
nickel-pig-iron producers cut costs amid weak demand - China's producers
of nickel-pig-iron are racing to upgrade their facilities as reduced demand
from stainless steel mills and weaker nickel prices drive them to cut costs.
-
more
China's
Production of Crude Stainless Steel in Jan.- Mar. Is 4.405 Mil. Tons - According
to Stainless Steel Council of China Special Steel Enterprises Association,
China's production of crude stainless steel in the period from January to
March in 2013 was 4.405 million tons, drastically up by 28.3% from the
year-earlier period. -
more
China Stainless
Steel Index over last 12 months - 304-2B (some of the price decline is
due to the price of nickel falling - but also demand destruction. The last
peak came right after the 2013 Spring Festival, and has since dropped when
demand did not return like analysts had forecast)
Shanghai
#1 Nickel Spot Price YTD - January 7, 2013 121000-122000 RMB/T to May 16,
2013 104200-105500 RMB/T
China 304
Sabot Scrap Index YTD in Shanghai - Jan 7, 2013 11900-12100 CNY/T to May
15, 2013 - 9400-9600 CNY/T
Rescue
plan for Tati Nickel mine - The Moscow-based Norilsk Nickel mining giant
has devised a rescue plan for its struggling Botswana mining operations at
Tati Nickel Mining Company (TNMC), Mmegi Business has been informed. -
more
Xstrata Nickel calls Dominican Republic mine fears a “myth” - Dominican
Republic stands to make at least US$5.4 billion in the next 25 years from
the Loma Miranda mine, said Xstrata Nickel Falcondo executives, who on Wednesday
called notions of ravaged crops, forests and species a “myth.”
-
more
Madang to
have ecology office to monitor mine - Madang will soon have its own officers
to monitor environmental impacts from the Ramu nickel project. -
more
Xstrata
investigated for local debt loading - The tax office has investigated Swiss
mining giant Xstrata over its debt-driven $19 billion purchase of Canadian
nickel miner Falconbridge in 2006 through its Australian arm, according to
The Australian. -
more
Glencore
Names Tony Hayward Interim Chairman After Bond Ousted - Glencore Xstrata
Plc (GLEN) appointed former BP Plc (BP/) Chief Executive Officer Tony Hayward
as interim chairman after John Bond was ousted by shareholders of the
world’s largest exporter of power-station coal. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.76/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell off Wednesday's record high and now total
just under the 178,800 tonne level. After two days of serious declines, nickel
is trading erratically today, trying desperately not to close at a new annual
low. Falling below the $15,000 tonne level again yesterday, has reiterated
nickel remains in a downtrend, and makes our remark last week that the bottom
may have been established earlier this month, an apparent premature
statement. This is one of the most noticeable differences we can remember
between the short term trend in commodity trading and equity markets. US
and some European markets are trading at all time record high, while nickel
and some of the other base metals are trading near annual lows, and well
off last years annual highs, and no where near all time record highs. Nickel
was selling for 3X what it is now back in 2007, although it is selling for
twice what it was in 2001. Quite a range for the first 13 years of the 21st
century. What the next 24 hours, or rest of the month holds, remains a mystery.
but one would hard pressed to find anything to make one believe the overall
trend will turn positive.
Average price of cash nickel so far this month - $6.84/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(SSY) The world export price of hot rolled band declined to a year-to-date
low of $553/t, down by $20/t over the last three weeks, according to the
latest SteelBenchmarker published by World Steel Dynamics.
African Eagle Resources sets out plans to retain nickel licences -
more
China
nickel-pig-iron producers cut costs amid weak demand - China's producers
of nickel-pig-iron are racing to upgrade their facilities as reduced demand
from stainless steel mills and weaker nickel prices drive them to cut costs.
-
more
Service Center
Shipments of Steel Improved in the United States and Steel and Aluminum Shipments
Improved in Canada - U.S. service centers shipments of steel products in
April 2013 increased 2.1% from April 2012. Steel product inventories at the
end of April 2013 decreased 2.1% from last month. -
more
Production
of FeCr in India Drops Due to Shortage of Indigenous Cr Ore =Due to ban order
on consignment production to Tata Steel and sharp drop in quantity shipped
from major mines= At the moment, the production volume of ferro-chrome in
India has dropped drastically. -
more
Outokumpu
reviews its high performance alloys business - Stainless steel producer
Outokumpu, headquartered in Finland has started a strategic review of its
high performance alloys VDM business unit. -
more
Ramu landowners
share 2% to royalties with two groups - The coastal pipeline landowners (CPLO)
of the Ramu nickel project have decided to share 2% of their royalties with
two other groups within their area. -
more
China's April
crude steel output slips from March record - China's crude steel output hit
65.65 million tonnes in April, down slightly from a record high a month ago,
as steelmakers kept production robust to maintain market share. -
more
Sculptures
in honour of industrial heritage - The industrial heritage of South Dunedin
was celebrated yesterday with the installation of two stainless steel rope
ball sculptures in King Edward St as part of a beautification project. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, May 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.85/lb
. Indicators
at 7:00 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 rose on Tuesday to a new all time record high
of 179,556 tonnes. GDP figures from Europe today show that while Germany
grew in the first quarter, however slight, the European zone spent its sixth
consecutive quarter in recession. Even France slipped into recession this
last quarter. With that, the Euro os lower against the US Dollar, which is
adding pressure on commodities. Nickel rose by an amount greater than it
had fallen the prior three days yesterday and after another large increase
today, hit a new record high for the third time this month. Our thoughts
last week that nickel may have bottomed out may prove to be inaccurate as
nickel once again falls back into its negative trend. Soft stainless steel
demand continues to be the major fundamental drag.
Average price of cash nickel so far this month - $6.86/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(SMM) According to SMM data, approximately 82 ships carrying nickel ore will
arrive at ports in April, and nickel ore imports are expected between 4-4.5
million mt, down 18-30% from March’s 5.53 million mt, and down 5-15%
YoY.
(AM) Shandong Taishan Steel Group suspends high carbon ferrochrome purchases
for May and June
(AM) Germany’s crude steel production down by 1% y-o-y in April
(AM) Japan’s imports of stainless scraps rise by 18.6% m-o-m in March
Pew Research Report - The New Sick Man of Europe: the European Union -
more
(CEN) China's electricity consumption increased 6.8 percent from a year earlier
to 416.5 billion kilowatt hours in April, the National Energy Administration
said on Tuesday.
Dollar Index Rises to Nine-Month High as Commodities Drop -
more
Senator again warns of “swift rebuke” against Xstrata Nickel
mine - La Vega province senator Euclides Sanchez on Tuesday repeated
his warning that any attempt by Xstrata Nickel Falcondo to exploit Loma Miranda,
“will be met rebuke of unforeseeable consequences.” -
more
Prices
of CR Austenitic Stainless Sheets to $2,550 CFR Level in Asia - As the
consecutive holidays in May were just over, the Japanese cold-rolled (CR)
austenitic stainless steel sheet mills are now gathering bids having been
sent during those holidays in May but it cannot be said to be in the stage
being all present. -
more
May Purchase
Price of SUS Scrap by Japan's SUS Steel Mills Remains Unchanged =Price per
ton is JPY135,000 - 140,000 due to recovery in nickel price and yen depreciation=
This week, stainless steel mills in Japan fixed the price of domestic
nickel-containing stainless steel scrap (SABOT) as May purchase at JPY 135,000
- JPY140,000 per ton ex-factory, which is the same level as the prior month.
-
more
Ramu NiCo
school fee aid - Ramu NiCo Ltd and its joint venture partners have committed
K50,000 for each year as school fee assistance to landowners of the project
over the next five years. -
more
Russia's
Norilsk Nickel seeks up to $2 bln loan -bankers - Russia's Norilsk Nickel
has approached international banks for a syndicated loan of up to $2 billion
for general corporate purposes, banking sources close to the deal said. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, May 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.93/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose on Monday but remain just shy of the all
time high reached last week of 178,482 tonnes. German investor sentiment
increased only slightly and has helped keep European markets in the red.
J.P Morgan became the most recent economic analyst to cut their growth forecasts
for China, and concerns caused by these reports is helping drag down base
metals. Once again, nickel has been unable to break thru the $7/lb
level, which is apparently becoming the line of resistance to beat. As well
as ours, two other stainless steel price indexes we monitor continue to show
price erosion in China. Shanghai metal closed .003% higher today, up 1% from
a week ago today.
Average price of cash nickel so far this month - $6.86/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
ClassNK Receives Safety at Sea Award at Seatrade Awards -
more
(SMM) LME Lists Johor Warehouse for Storing Nickel and Tin, Norilsk’s
Q1 Nickel Output Falls 6% YoY
(SO) German wholesale metal prices down four percent in April
Sumitomo Metal Mining Co., Ltd. : Chromium Recovery Pilot Plant
- more
(China) Industrial output grows faster in April -
more
Parties to
Ramu nickel project to sign new deal - A new agreement will be signed later
this month between parties to the Ramu Nickel project following the review
on royalties, support grants and infrastructure development.
-
more
MCC spillover at Ramu mine site - These photos, from the MCC operated Ramu
mine site at Kurumbukari in Madang Province, show why local people are asking
questions and becoming more and more concerned at the lack of answers. -
more
Production
Plan for Special Steel Products in April - June, 2013 Is 4,707,600 Tons =Down
by 11% from year-earlier period, and both domestic and export are decreased=
On May 8, the Ministry of Economy, Trade and Industry announced the production
plan for special steel hot-rolled products during the period from April to
June in 2013, which shows the production plan for special steel during April
to June is 4,707,600 tons whose breakdown is... -
more
Court approves
amicable agreement in Rusal - Norilsk Nickel dispute - The Federal Commercial
Court of the East Siberian District has endorsed an amicable agreement between
Norilsk Nickel and its shareholder Rusal Investment Management, the court
spokesperson told RAPSI on Tuesday. -
more
China's
metallurgical industry to become cleaner - Shanxi Taihang Mining Co. Ltd.
will become China's first company to use coke oven gas as an alternative
to natural gas to get reduced iron in industrial production after striking
a contract to import Iranian technology on Monday. -
more
Courtesy AISI
- In the week ending May 11, 2013, domestic raw steel production was 1,881,000
net tons while the capability utilization rate was 78.5 percent. Production
was 1,970,000 tons in the week ending May 11, 2012, while the capability
utilization then was 79.2 percent. The current week production represents
a 4.5 percent decrease from the same period in the previous year. Production
for the week ending May 11, 2013 is down 0.2 percent from the previous week
ending May 4, 2013 when production was 1,884,000 tons and the rate of capability
utilization was 78.6 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, May 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.96/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 slightly higher. Stockpiles of nickel
stored in LME approved warehouses fell for a third consecutive session and
fifth of the last sixth session and now totals just shy of the 177,850 tonne
level. European equity markets are currently lower after China's industrial
production numbers for April came in shy of expectations, with some trading
just off their all time record highs. Nickel continues to tread water after
bouncing off 2013 lows two weeks ago, but hasn't been able to hold onto
the $7/lb mark. It appears that today may turn into another yawner, although
rumors that the Fed may be planning an exit from their bond buying scheme
- ie cheap money flowing into the stock market - has Dow futures pointing
south.
Average price of cash nickel so far this month - $6.85/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(BW) Treasure Steelworks Corp., a unit of listed steelmaker TKC Steel Corp.,
will begin producing in July nickel pig iron which is cheaper to make than
steel billets. ... TKC Steel said in a disclosure Thursday. “The decision
to produce nickel pig iron was made to address the power supply shortage
in Mindanao… production of pig nickel can be done at minimal power
consumption…”
Import
of SUS Products in March, 2013 Is 15,532 Tons =Up by 4% from prior month,
loading in Korea is down and loading in China and Taiwan is up= The imported
quantity of stainless steel products in March, 2013 which was compiled by
The Japan Iron and Steel Federation based on the trade statistics prepared
by the Ministry of Finance was 15,532 tons, up by 4.2% from the prior month
(14,902 tons). The details are as per the table as under. -
more
Madang
govt: Reconsider Ramu Nickel tax holiday - Madang Governor, Jim Kas, says
his provincial government will be making a submission to the National Government
to reconsider a ten-year tax holiday granted to the Chinese developer of
the Ramu Nickel project. -
more
2.5 % import
duty on select metals - The Central Government has imposed 2.5 per cent import
duty on various types of scraps — melting steel, stainless steel and
aluminium scraps, and has withdrawn exemption of special additional customs
duty on brass scrap. -
more
Price
cuts loom as Chinese steel demand slows - China’s biggest listed steel
maker, Baoshan Iron & Steel, will cut its main steel product prices for
June bookings, its first reduction in nine months, underscoring demand worries
amid a fragile economic recovery. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, May 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.93/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01lb
higher, with other
London traded base metals trading mixed and quiet. Stockpiles of nickel stored
in LME approved warehouses fell on Thursday and now totals just under the
178,200 tonne level. Finance ministers and central bank governors of the
G7 countries are meeting today in London, with the US said to challenge Germany's
stance on deep austerity cuts for fellow Euro countries. .No major reports
out today, so market has little news to guide any major movements. Nickel
continues to look strong in the last few days of trading, holding its own
while other base metals slip on a weaker Euro. It is hard to say if this
is a sign of true strength, with a pause before a breakout - or a sign of
desperation, that could easily collapse and see prices hit new annual lows.
Only time will tell. The technical signals this week are saying very little.
Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.83/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
CRU - Molybdenum: Prices continue downward trend - Prices have remained around
the $11/lb mark as large volumes of available material and slow demand growth
counteract concerns about supply from Kennecott Copper and a slight market
deficit in the first quarter of 2013.
(AMM) Melting-grade nickel premiums remained at a ten-year low of 15 to 25
cents per pound, with traders continuing to lament a dearth of spot transactions
amid domestic oversupply.
Metals Finance to acquire north Queensland nickel project -
more
Liberty Mines Reports Financial Results for First Quarter 2013 -
more
POSCO moves closer to iron ore access for $12 billion India steel plant -
more
Nickel supply comes good... at the wrong time: Andy Home - On April 11 Xstrata
issued one of its last public statements as an independent company. -
more
Ferrochrome
import offers too high for Chinese buyers - China's spot market for imported
high-carbon ferrochrome remained at an impasse as Chinese buyers continued
to find offers for imported ferrochrome too high compared to domestic prices,
market sources said Friday. -
more
Export of
SUS Products in March, 2013 Is 107,102 Tons =Up by 24% from prior month and
export to all of major destinations is increased= The export result of stainless
steel products in March, 2013 which was compiled by The Japan Iron and Steel
Federation based on the trade statistics prepared by the Ministry of Finance
was 107,102 tons, up by 23.6% from the prior month (86,683 tons). The details
are as per the table as under. -
more
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.99/lb. Indicators at
6:45 am CST today show 3 month nickel trading around $.01/lb
, while all other London
traded base metals are trading lower. Stockpiles of nickel stored in LME
approved warehouses slipped from yesterday's record high and now total just
under the 178,40 tonne level. Nickel continued its rebound yesterday, and
while base metals are down this morning, nickel opened lower and has since
crawled into the positive, although under heavy pressure from a lower Euro.
Equity markets are taking a break from recent gains, with Asian markets ending
lower, European markets trading lower, and the US Dow pointed lower. The
weekly jobless rate report from the US this morning may give US markets an
opening direction. We put cash nickel resistance at $7.22/lb, with support
at $6.70/lb. The weekly trend looks bullish, although beyond that since
February, it is in a long term bearish trend.
Average price of cash nickel so far this month - $6.81/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
World Stainless
Steel Price Forecast from MEPS - World Average Hot and Cold Rolled Coil,
grade 304, transaction values reduced by over $US80 per tonne in April. -
more
EU imposes
anti-dumping duties on Indian steel wire exports - The European Union has
imposed provisional duties on India's exports of stainless steel wire to
counter dumping that has hurt Italian, German and Spanish producers. -
more
EUROFER welcomes anti-dumping measures against stainless steel products from
India -
more
Steelworkers,
First Nickel have contract - Members of United Steelworkers Local 2020 have
voted overwhelmingly to accept their bargaining committee's unanimously
recommendation to accept a new collective agreement reached with First Nickel
Inc.-
more
Freezing
Kazakh winter hits ENRC iron ore output - A particularly severe Kazakh winter
hit iron ore output for mining group ENRC in the first quarter, adding to
the woes of a company facing allegations of fraud in its African and Kazakh
operations. -
more
Madang govt
outlines plan for Ramu mine royalties - The Madang provincial government
has outlined a 20-point plan “after a long consultation with many
experts”. -
more
ClassNK's
Contribution to Bulk Ship Safety Recognised - The distinguished panel of
judges awarded ClassNK with the Technical Innovation Award for its work in
developing the Guidelines for the Safe Carriage of Nickel Ore (Second Edition).
Labeled “the world’s most dangerous cargo” by INTERCARGO,
liquefaction of nickel ore cargoes during transport was responsible for the
loss of 66 lives in South East Asia from 2009 to 2011 alone. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, May 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.89/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.10/lb
higher, with all London
traded base metals trading higher at the moment. Stockpiles of nickel
stored in LME approve warehouses rose on Monday and set a new all time record
high of 178,482 tonnes. Nickel was lagging in yesterday's trading until it
got a big bounce late in the session, one the other LME traded base metals
did not see. Today, positive Chinese data has given commodities trading a
boost. Yesterday's ability to hold onto the prior days gains, followed by
today's gains which look to hold thru the rest of the session, is hinting
that the pricing bottom may - just may - have been found. There are still
a lot of signals out there that could easily make one believe that nickel
prices still have more room to fall, but the longer Friday's bounce remains
positive, there is reason to believe the opposite. Yesterday's afternoon
bounce look desperate, by suddenly jumping on no news and breaking with other
base metals daily pricing moves. Today's follow thru however, is giving the
move legitimacy. We post come interesting Chinese stainless steel production
figures below.
Average price of cash nickel so far this month - $6.76/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
Chinese 2012
Stainless Steel Production Statistics (from various Chinese media)
Total Production - 16.087 million tons (+1.996 million tons over 2011) (+14.17%
over 2011 figures)
300 series production - 7.926 million tons (+9.45% over 2011) (49.27% market
share of total production)
400 series production - 3.208 million tons (+2.95% over 2011) (19.94% market
share of total production)
200 series production - 4.953 million tons (+32.47% over 2011) (30.39% market
share of total production, an increase of 4.25% in year)
Consistent increase in 200 series stainless at expense of 300 and 400 series
stainless is concern to nickel industry. The market share for 300 series
stainless fell 2.08%, while 400 series fell 2.17% points in 2012.
First two months of 2013, stainless steel production has increased 16.61%
over the same time last year, with cold roll production up .02% and hot rolled
production up 25.82%.
One stainless steel price index from a Chinese metals site was down 29.2%
from March 2012 to March 2013.
The Oil and
Gold Booms Are Over - The wreckage caused by China’s great, juddering
slowdown continues to spread far beyond the country’s shores. -
more Quote - "Since 2001, China has increased output
of industrial metals by striking multiples, from about 140 percent for iron-ore
commodities to 775 percent for nickel."
Economic & Steel Market Outlook 2013-2014 - Uncertainty, weak sentiment
and difficult access to financing continue to paralyse the EU economy. Key
indicators lost ground again in March and April. -
more
LME
faces criticism to praise on backlog - The London Metal Exchange (LME) should
be more discriminating about approving new storage facilities in locations
where lengthy waits already exist, according to Mike Baker, risk manager
at Euromin SA, a metals trading company. -
more
Local 2020
ratifies deal with First Nickel - Steelworkers Local 2020 members voted 92
per cent in favour of ratifying a contract with First Nickel on May 3. -
more
China
avg daily crude steel output at record high late April-CISA data - China's
average daily crude steel output hit a record high of 2.129 million tonnes
over April 21-30, up 0.6 percent from the preceding ten days, data from the
China Iron & Steel Association (CISA) showed on Wednesday. -
more
Iron
Ore Seen Dropping by BHP as Supply Growth Tops Demand - Global iron ore supplies
will expand faster than demand over the long term, lowering prices and reducing
volatility of the raw material used to make steel, according to BHP Billiton
Ltd. (BHP), the largest mining company. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, May 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Nickel went untraded on the London Metal Exchange on Monday due to a national
holiday. It closed Friday at
$6.90/lb. Indicators at 6:50
am CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
approved warehouses fell slightly on Friday and now total just over the 178,200
tonne level. The Euro is trading higher this morning, after German factory
orders unexpectedly increase in March, but nickel is trying to decide if
its Friday bounce off the $6.66/lb close is anything more than a dead cat
bounce. Interesting to see that Trading Central SA has announced nickel entered
a bear market 'this month'. Nickel has been dropping since the first week
fo February, but apparently it just sent a technical signal this month, after
already falling over $1.65/lb. They now predict nickel could fall to $6.28/lb.
European stocks are trading higher after favorable earnings reports from
a couple of the regions larger banks. US Dow futures are pointing higher,
after Asian markets ended higher. Sentiment among commodity traders appear
to be skeptical as they try to decide if the momentum of the world economic
recovery is on pace, and if the glut in metals will continue.
Average price of cash nickel so far this month - $6.75/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(MF) China’s crude stainless steel output down by 1.7% in Q1
(China) Tougher taxes urged on emissions, use of resources -
more
ENSO neutral; a negative IOD slightly favoured -
more
Nickel May
Drop to $13,850 on Moving Average: Technical Analysis - Nickel, which entered
a bear market this month, will probably decline further to the lowest level
since June 2009, according to Trading Central SA. -
more
Courtesy AISI
- In the week ending May 4, 2013, domestic raw steel production was 1,884,000
net tons while the capability utilization rate was 78.6 percent. Production
was 1,988,000 tons in the week ending May 4, 2012, while the capability
utilization then was 79.9 percent. The current week production represents
a 5.2 percent decrease from the same period in the previous year. Production
for the week ending May 4, 2013 is up 1 percent from the previous week ending
April 27, 2013 when production was 1,866,000 tons and the rate of capability
utilization was 77.9 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, May 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.90/lb. London Metal
Exchange is closed today for Early May Bank Holiday. Nickel got a big bounce
on Friday, with commodity markets reacting favorably to a cut in EU interest
rates on Thursday and a drop in US unemployment. The increase in April numbers
was only 15,000 more than expected, but the update increases in February
and March numbers was encouraging. Markets are quieter today, although with
London markets closed, nickel is not being traded today on the LME. In Shanghai,
nickel rose 2.1% in reaction to Friday's increase, although stainless prices
in that country are still falling. Stainless stocks are reportedly falling,
and Chinese media reports pig nickel producers are starting to shut down
due to the lower price. This 'could' help stabilize the price of stainless
there, and put an end to the fall in the price of stainless.
Average price of cash nickel so far this month - $6.75/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
EU rules
risk driving London Metal Exchange to Hong Kong -brokers - Companies using
the London Metal Exchange say new EU rules for financial markets after the
2008 crisis may prompt it to quit Britain's capital after nearly 150 years
for Hong Kong, home of its new owner. -
more
China's
ferrochrome imports fall as domestic prices stay low - China's spot trade
for imported ferrochrome remained subdued this week on weaker domestic prices,
local industry sources said Thursday. -
more
Steel
industry still suffering - Despite expectations that China's steel demand
would rebound this year along with massive infrastructure investment, insiders
told the Global Times Sunday that many steel makers are still having a difficult
time and are expected to lower factory prices for major steel products. -
more
Mining
tax revenue forecast slumps again - The mining tax will add just $800 million
to government coffers in the current financial year, less than half of the
amount predicted by the government last October, according to a new forecast.
- more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, May 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.66/lb . Indicators
at 7:00 am CST today show 3 month nickel trading around $.16/lb
higher, with all London
traded base metals trading much higher this morning. Stockpiles of nickel
stored in LME approved warehouses fell for the first time this week and month,
and now total just under the 178,350 tonne level. Base metals are getting
a boost this morning from a stew of news, some of it coming yesterday after
the European market closed, and some of it coming during trading yesterday,
but unable on its own to stop yesterday's rout. The EU cutting its prime
rate, and lowest weekly claims for US unemployed in 5 years, are driving
the Euro higher this morning, and is offering enough positive potential to
the market to turn sentiment. We may just be superstitious but we think the
$6.66/lb close yesterday, has a psychological effect. If you think we are
weird for thinking that, we challenge you to look at what number the US S
& P bottomed out in during the great recession. Yep, 666. Technically,
today's bounce could turn into a dead cat bounce. Having closed below strong
support on two consecutive sessions, technicals imply nickel is in a bear
market and could fall to $6.35/lb. Time will tell. Have a safe and relaxing
weekend.
Average price of cash nickel so far this month - $6.75/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
(Dow Jones) U.S. nickel exports rose 25.7% in March from the previous month,
but was down 26.2% from the previous year, the Commerce Department reported
Thursday.
(Dow Jones) U.S. nickel imports rose 1.0% in March from last month, but was
down 1.6% from the previous year, the Commerce Department reported Thursday.
Nickel Institute Appoints Nigel Ward as Director for Promotion & Market
Development -
more
Thyssen mulls keeping part of Steel Americas - source -
more
In gloom of economic data, hope flickers for China Inc -
more
Slumping Nickel Seeks a Bottom - The price of nickel, which is used in everything
from skyscrapers to cutlery, this week fell to its lowest level since July
2009, when the global economy still reeled from the financial crisis, leaving
some market participants wondering where the bottom might be. -
more
Australia
billionaire spends big on nickel even as glut worries persist - Australian
mining magnate Clive Palmer is joining Vale, Xstrata and other sector
heavyweights pouring money into nickel despite a dire near-term outlook for
demand, as they plough on with projects bought on the cheap or as part of
corporate takeovers. -
more
Glencore
Xstrata Valued at $69 Billion in London Trading - Glencore Xstrata Plc, the
world’s biggest zinc miner and exporter of coal for power stations,
rose on its first day of trading as a combined company in London, with the
share market valuing the group at $69 billion. -
more
Glencore woos investors with promise of aggressive cuts -
more
Stainless
Steel Long Products in Renewable Energy and Energy Saving Applications -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.72/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
higher, with all London
traded base metals trading higher at the moment, some only slightly. Stockpiles
of nickel store din LME approved warehouses took a break yesterday, with
no change in the overall total recorded. The European Central Bank cut its
benchmark rate by 25 bps to 0.5% this morning, which is helping the Euro,
which in turn today, is helping commodity trading. Nickel, like most traded
base metals, fell off a cliff yesterday, after PMI reports showed manufacturing
growth slowing in both the US and China. Even a stronger Euro was unable
to help. Nickel fell to prices not seen since July 2009. We seriously doubt
we will see it happen again, but we really do not want to see prices creep
back to where they were in March of 2009, just four months prior to yesterday's
price level. Before the US Fed Chairman's CBS '60 Minutes' television interview
aired in mid March of 2009, the interview that seemingly turned the world
away from economic collapse, nickel averaged $4.40/lb that month on the LME
and nickel mines were announcing mine shutdown's on a weekly basis. We are
seeing mine shutdown's announced in the last few weeks, but at least in the
case of Sinclair, was a mine having reached its 'end of life' and was due
for closure anyway. In our opinion, until nickel stockpiles begin to
fall, and fall hard, mine closures will have little effect on the traded
price of nickel. As we have discussed on numerous occasions over the year,
fundamentals play far less on the traded price of nickel as they once did.
Average price of cash nickel so far this month - $6.79/lb
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
Jason Hughes of CMC Markets - "Concerns over an extended period of low-to-no
growth for the mature developed economies paints a pretty grim picture for
the foreseeable future for base metal prices."
Nickel Falls Into Bear Market With Tin on China Concerns -
more
Bear of the Day: Allegheny Technologies -
more"A change of $1.00 per pound in nickel prices
would result in increased costs of about $95 million, while a change of $0.01
per pound of ferrous scrap would result in increased costs of approximately
$8 million. "
(China) Steel industry barely returns to profits -
more
Norilsk
to Review Nickel Output Amid Price Slump - Rusal CEO - Norilsk Nickel, the
world's largest nickel producer, will review production levels and rationalize
output by taking various market factors into account amid falling metal prices,
a major shareholder of the company said Wednesday. -
more
Xstrata
to Close Sinclair Nickel Mine in Australia - Xstrata PLC said it plans to
close its Sinclair nickel mine in Western Australia state this month, in
the latest move by a major mining company to cut costs amid soft metals prices.
-
more
Tanzania
to become No.1 in Africa’s nickel production - Tanzania is poised to
become Africa’s leading nickel producer. It will be producing more than
80,000 tonnes of the mineral annually within few years to come. -
more
Twin
blasts hit mining compound in Palawan - A twin explosion rocked the mining
compound of the Ribo Tuba Nickel Mining Corporation in Bataraza, Palawan
on Tuesday evening, the Armed Forces' Western Command (Wescom) reported Thursday.
-
more
Glencore
Completes $29 Billion Xstrata Deal With Trade Tomorrow - Glencore International
Plc, the largest publicly traded commodities supplier, said it completed
its $29 billion takeover of Xstrata Plc and that the combined group will
begin trading tomorrow in London. -
more
Glencore seen still hungry after swallowing Xstrata -
more
Worldsteel
Forecasts 2.9% Increase in Global Steel Use - The World Steel Association
forecasts that global apparent steel use will increase by 2.9 percent in
2013, according to the Brussels-based trade group’s Short Range Outlook.
The increase this year will be followed by further 3.2 percent growth in
2014 to 1.5 billion metric tons. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, May 1
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.98/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.15/lb
lower, with all London
traded base metals trading lower. Stockpiles of nickel stored in LME approved
warehouses rose on Tuesday and with any large rise these days, comes a new
record high. Today's all time record high figure is 178,476 tonnes. Typically
warehouse stockpiles fall in late May and early June, as Norilsk is unable
to ship due to regional flooding. This year that may have little affect on
the overall numbers. While much of the world is closed today for Mayday
celebrations, China's PMI release this morning has put UK commodity traders
in a foul mood. Nickel is down sharply, as are many commodities. For a second
day, nickel is finding a hard time finding support from a stronger Euro,
as negative economic sentiments rule. For the month of April, Shanghai nickel
began the month at 114,800 - 155,800 and ended the month at 108,500 - 109,300,
down 6500 RMB/T. The fall could have potentially been larger, but nickel
has gone untraded in China for the last three days. The lower nickel cost
is having an effect on stainless steel prices in China. Our daily stainless
steel index fell 3.31% during the month, and two more we follow on Chinese
metal sites, ended 3.56% and 3.65% lower respectively.
Average price of cash nickel so far this month - N/A
Average cash price of nickel last month - $7.09/lb / average last year
- $8.08/lb
Belvedere Resources' progress stalled by nickel price and permit delays -
more
Universal Stainless Reports First Quarter 2013 Results in Line With Company
Guidance -
more
(PR) Effective
with shipments May 1st, 2013, North American Stainless will reduce the fuel
surcharge to 34% for stainless flat and long products shipping in the month
of May 2013. The surcharge rate is considered a maximum level for May and
will be reviewed monthly.
Q1
ferrochrome production hit by South African electricity buy-backs - Global
output of ferrochrome in the first three months of the year was hit by agreed
production cuts in South Africa where producers agreed to electricity
‘buy-backs’ with state-owned utility Eskom. -
more
Local
stainless companies get a piece of the mining action - ASSDA member Australian
Pickling & Passivation Service and ASSDA sponsor Sandvik Mining &
Construction have been central to the expansion of a coal export port in
North Queensland. -
more
Antam,
Vale back on their feet due to increased sales volume - Listed nickel miners
PT Aneka Tambang and PT Vale Indonesia are reporting increased net profits
in the first quarter of the year due to higher sales volumes offsetting price
pressure. -
more
China
Manufacturing Gauge Signals Slowdown Persisting: Economy - China’s
manufacturing expanded at a weaker pace in April in a sign that the slowdown
in the world’s second-largest economy is extending into the second quarter.
-
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"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 6:50 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading mostly lower as well. All changes so far
continue to be minor and markets remain quiet. Stockpiles of nickel stored
in LME approved warehouses fell on Thursday and now total just under the
179,800 tonne level. Inventory levels gained 2,760 tonnes over the last month.
LME traded 3 month nickel closed yesterday at the same amount it did on the
first day of May. Shanghai nickel fell 4.2% during the month, while India
traded nickel by 1%. Our daily China stainless steel index fell 3.8% during
the month of May, while two others we follow in China, fell 3.1% and 4.8%
respectively. LME 3 month nickel has spent most of the month bouncing off
a $6.69 to $6.70/lb floor, but has been unable to establish solid footing
for an increase that will stick. Nickel buyers are getting what they have
wanted for years - a stabile nickel price. The only problem is the reason
traders are ignoring nickel and leaving that price stabile, is partially
due to the lack of demand from the very stainless steel buyers who crave
the stability in the price of nickel. Nickel miners are sweating the lower
pricing and the Norilsk nickel presentation linked below gives a good breakdown
of what it is costing different mining companies to produce nickel. We expect
very little today, even with the Euro down against the US Dollar. It's month
end for traders, and there is little to give them any reason to be optimistic
enough to start betting long for June. Have a safe and restful weekend!
Reports
Commodity/Economic Comments
BIR Stainless Steel World Mirror May 2013 - Global: The following article
is based on the latest Stainless Steel & Special Alloys World Mirror
produced by the BIR world recycling organisation for the benefit of its members.
-
Glencore
Xstrata South African Chrome Mines Disrupted by Strikes - Glencore Xstrata
Plc, the world’s fourth-biggest mining company, said production at three
South African chrome sites has been disrupted by wildcat strikes. -
Steel industry
output rises against slowing sales - China's steel industry made 153 million
yuan ($24.72 million) in profits in April, the fourth monthly decline, according
to the China Iron and Steel Association on Wednesday. -
Morning Nickel
Inventory and Price Statistics & Figures
MSCI: Service
Center Shipments Level Off in April - The trend of declining service center
shipments eased in April in both the United States and Canada, according
to the latest data from the Metals Service Center Institute, Rolling Meadows,
Ill. -
Publication
Announcement: World Steel in Figures 2013 - The World Steel Association
(worldsteel) has published the 2013 edition of World Steel in Figures. It
is now available on -
Mwana
Africa’s CEO Considers Restarting Zimbabwe Nickel Smelter - Mwana Africa
Plc, a producer of nickel, gold and diamonds, is considering restarting its
nickel smelter in northeastern Zimbabwe after a drop in prices eroded profit
margins on supplying the metal as concentrate. -
Japan's Kobe
Steel to shut blast furnace in 2017/18 - Japanese Kobe Steel Ltd said on
Wednesday it would shut a blast furnace and other upstream equipment at its
Kobe Works plant in western Japan in the year starting April 2017 to turn
around its loss-making iron and steel business. -
Otto quinlan's
expects 2013 global stainless steel consumption will be increased 4% year
on year - The world's largest stainless steel enterprise otto quinn's 22
to 23 in London held a two-day brand experience. -
Palmer
party recruits nickel refinery execs - Queensland billionaire Clive Palmer
has recruited staff from his nickel refinery business in the state's north
to contest seats at the federal election in September. -
Belvedere
suspends operations at Hitura in face of low nickel prices - "The
continuing weakness in the nickel prices, in conjunction with permitting
delays, has left the company with little option but to suspend nickel operations
and commence temporary lay-offs," said CEO David Pym in a release Thursday.-
UNDP Rejects Glencore Exploration at Dominican Nickel Mine - The United Nations
Development Programme said an environmental study conducted by Glencore Xstrata
Plc at a mine in the Dominican Republic is incomplete and ferronickel exploration
at the site should be reconsidered. -
ENRC
fears data loss from hacking and stolen laptop - The mining group Eurasian
Natural Resources Corporation, warned on Thursday that it may have lost internal
data as a result of computer hacking and the theft of a laptop. -
Steel
distributor Kloeckner to cut more jobs, sites - German steel distributor
Kloeckner & Co increased planned job cuts to more than 2,000, the third
time it has broadened the scope of its restructuring programme in less than
a year. -
Oman-India
JV smelter to start operating next month - Oman's ferrochrome smelter, which
is a joint venture between Muscat Overseas Group and India's Indsil group,
will begin its trial operation next month. -
Norilsk
Vice President Quits Following Shareholder Feud - Norilsk Nickel vice president
Vladimir Strzhalkovsky announced plans on Monday to quit the world's largest
nickel miner, which has been at the center of a shareholder battle for control
of the company for several years. -
Madam Luo
replaced as boss of Ramu mine - Zhao Shimin has recently been appointed as
board chairman of MCC Ramu and Ramu NiCo management to replace Madam Luo
Shu. -
Metal
production value falls 18 pct in 2012 - Metal production value in 2012 fell
18.04 percent in 2012 due to the suspension of operations of several mines
and lower gold purchases made by the central bank during the period. -
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.02/lb
European
stainless steel producers divided over alloy surcharge - European stainless
steel producers remain divided over whether an alloy surcharge for customers
is hurting the industry. -
Rescue
plan for Tati Nickel mine - The Moscow-based Norilsk Nickel mining giant
has devised a rescue plan for its struggling Botswana mining operations at
Tati Nickel Mining Company (TNMC), Mmegi Business has been informed. -
Glencore
Names Tony Hayward Interim Chairman After Bond Ousted - Glencore Xstrata
Plc (GLEN) appointed former BP Plc (BP/) Chief Executive Officer Tony Hayward
as interim chairman after John Bond was ousted by shareholders of the
world’s largest exporter of power-station coal. -
Production
of FeCr in India Drops Due to Shortage of Indigenous Cr Ore =Due to ban order
on consignment production to Tata Steel and sharp drop in quantity shipped
from major mines= At the moment, the production volume of ferro-chrome in
India has dropped drastically. -
Prices
of CR Austenitic Stainless Sheets to $2,550 CFR Level in Asia - As the
consecutive holidays in May were just over, the Japanese cold-rolled (CR)
austenitic stainless steel sheet mills are now gathering bids having been
sent during those holidays in May but it cannot be said to be in the stage
being all present. -
Steelworkers,
First Nickel have contract - Members of United Steelworkers Local 2020 have
voted overwhelmingly to accept their bargaining committee's unanimously
recommendation to accept a new collective agreement reached with First Nickel
Inc.-
ClassNK's
Contribution to Bulk Ship Safety Recognised - The distinguished panel of
judges awarded ClassNK with the Technical Innovation Award for its work in
developing the Guidelines for the Safe Carriage of Nickel Ore (Second Edition).
Labeled “the world’s most dangerous cargo” by INTERCARGO,
liquefaction of nickel ore cargoes during transport was responsible for the
loss of 66 lives in South East Asia from 2009 to 2011 alone. -
Tanzania
to become No.1 in Africa’s nickel production - Tanzania is poised to
become Africa’s leading nickel producer. It will be producing more than
80,000 tonnes of the mineral annually within few years to come. -
Antam,
Vale back on their feet due to increased sales volume - Listed nickel miners
PT Aneka Tambang and PT Vale Indonesia are reporting increased net profits
in the first quarter of the year due to higher sales volumes offsetting price
pressure. -
