This page is archived news covering the period of May 2013
If you are looking for current daily market news, please visit here.

LME nickel prices and news

Stainless Steel News and Nickel Prices

Free comprehensive information on worldwide nickel market pricing, stainless steel prices and metals analysis and forecasts


Daily Nickel Market News & Stainless Steel Prices

Kiva - loans that change lives

Nickel Prices

Stainless Steel News

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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips on worries ahead of China PMI report - more
  • Bloomberg metals morning - Copper Set for First Monthly Gain in Four on Mine Supply Concern - more
  • LME Morning - Base metals succumb to weaker euro, choppy day expected - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.59
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Drops for Second Day on Mine Restart, IMF China Forecast - more
  • LME Morning - Base metals mark time ahead of US data flow, stronger euro supports - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.79
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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
  • (China) IMF lowers growth forecast - more
  • More Chinese steel makers see losses - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - London copper slips on strong dollar, mine restart - more
  • Bloomberg metals morning - Copper Falls on Concern China’s Economy Is Poised to Slow Down - more
  • LME Morning - Base metals steady but directionless, copper shrugs off large stock cancellations - more

  Reports

  • Desjardins Commodity Trends - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 84.89
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steady, Chinese demand uncertainty in focus - more
  • Bloomberg metals morning - Copper Swings Between Gains and Declines on China Growth Concern - more
  • LME Morning - Base metals stagnant, lack of newsflow mutes conditions - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • The April 2013 Steel Founders' Society Of America Casteel Reporter - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 85.02
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steady as investors ponder U.S., Chinese data - more
  • Bloomberg metals morning - Copper Climbs Amid Mine-Supply Concern, Falling Stockpiles - more
  • LME Morning - Base metals steadier, look to consolidate after latest sell-off - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 85.44
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls Most in Three Weeks as China Manufacturing Shrinks - more
  • LME Morning - Base metals fall sharply, global PMIs paint gloomy picture - more

  Reports

  • Oryx Stainless Waiting for the next bubble - more
  • SMR Monthly Stainless Steel Briefing - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 85.57
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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
  • How Bernanke blew it - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits two-week high on dollar, Grasberg mine outage - more

  Reports

  • Outokumpu Nirosta June Stainless Steel Surcharge - pdf here
  • AK Steel June Stainless Steel Surcharge - pdf here
  • ATI June Stainless Steel Surcharge - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 85.71
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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
  • China Economy by Numbers - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning - Base metals mixed in sideways trade, await mid-week news/data - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 85.91
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises on China Inventory Drop, U.S. Sentiment Data - more
  • LME Morning - Base metals lower in quiet trading, await mid-week economic news - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 85.98
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning - Base metals lack purpose, no clear drivers at present - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.10
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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
  • Mining sector fund-raising drops 24% - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines to One-Week Low on Slowing Growth, Ample Supply - more
  • LME Morning - Base metals slip, brief Asian rally sputters out - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.25
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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
  • The copper bull’s last hurrah - more
  • (China) Bad loans at four-year high - more
  • U.S Fastener Exports Rise in March - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls as European growth fizzles, funds sell - more
  • Bloomberg metals morning - Copper Reaches One-Week Low as Economies Weaken and Stocks Swell - more
  • LME Morning - Base metals drop close to two-week lows, macroeconomic gloom weighs - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.33
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls Most in Two Weeks on Indications of China Slowdown - more
  • LME Morning - Base metals all lower in bearish premarket, lack of buying interest weighs - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.38
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Innovative Facades in Stainless Steel - pdf here
  • 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper up as China factory data fans easing hopes - more
  • Bloomberg metals morning - Copper Rises on Indications Chinese Demand Is Set to Strengthen - more
  • LME Morning - Metals mixed, drift back on dollar strength after China data - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.58
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (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…”
  • China's industrial output up 9.3% in April - more

     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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steadies on falling inventories, upbeat data - more
  • Bloomberg metals morning - Copper Pares Third Weekly Advance on China Demand Concern - more
  • LME Morning - Base metals steady but stronger dollar gives negative bias - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.58
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • 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
  • China's Economy By The Numbers - 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

    Ramu locals urged to avoid Misima mistakes - more

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips, taking breather after 3-week high - more
  • Bloomberg metals morning - Base Metals Decline as China Producer Price Drop Deepen - more
  • LME Morning - Base metals drift lower, downside capped by euro strength - more

  Reports

  • Damstahl Stainless Steel Report - May 2013 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.60
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • China's inflation rises to 2.4% in April - more

    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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips, but near 3-week peak on economic optimism - more
  • Bloomberg metals morning - Copper Climbs in London After Gains in China Signal More Demand - more
  • LME Morning - Metals firmer as rally resumes, China trade data mostly supportive - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.72
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • Miner celebrates nickel mine production - more
  • Norilsk Nickel's nickel output falls - more
  • China's export rises 14.7% in April - more

    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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits 3-week high on economic optimism - more
  • Bloomberg metals morning - Copper Declines as German Manufacturing Orders May Have Dropped - more
  • LME Morning - Base metals mixed but steady, copper back above $7,300/t - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.82
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here
  • Technical forecast for Nickel - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 86.99
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more

    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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Leads Metals Higher Before U.S. Jobs Report - more
  • LME Morning - Base metals rally with copper up 3 pct, US jobs data in focus - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 87.13
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Metals steadier, early advance pauses ahead of ECB move - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 87.58
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • 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. "
  • Assmang: Khumani Mine - more
  • (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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Slides on Weaker-Than-Estimated Chinese Manufacturing - more
  • LME Morning - Base metals easier, soft China PMI triggers copper slide to one-week lows - more

  Reports

  • ThyssenKrupp Stainless USA May Stainless Steel Surcharges - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 87.88
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • European Debt Crisis Live - more
  • 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

  • Vale Posts Q1 Profit Surge Despite Nickel Price Decline - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

 April Archives


Chart Info Delayed 1 Day

Chart temporarily down

Chart temporarily down


Translate this page to French | German | Spanish | Italian | Portuguese | Chinese | Japanese | Korean | Russian


"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays - 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.

Site Sponsors

Advertise your company on this site

Your banner here

4/19 Market Prices
not official prices

ferrochrome and chromium prices

Moly Oxide (>51%)
$11.00/lb
 
Source

4/19 Scrap Price

Stainless Steel (LTL/ton)
$.71/lb
 ferrochrome prices and molybdenum prices

MEPS Stainless Steel Price Index

Global 304 SS Index

nickel prices

North America 304 Index

price of stainless steel

EU 304 SS Index

price of nickel

Asia 304 SS Index

Other Sites

Nickel Mining Stock
Stainless Steel Videos
USGS Mineral Reports
Industrial Metals Index
Nonferrous Metals Index
World Disaster Info
NOAA El Nino Updates
Investor Guide

Today's Market

USA Economic Calendar
World Economic Calendar
Europe Markets
Asia/Pacific
TED Spread
LMEX Index
VIX Index
US Futures


LME Margins
LME Calendar
LME Ring Times
Metals MSDS
Nickel Toxicology
Stainless Steel MSDS
USGS Molybdenum Info
USGS Nickel Information
USGS Chromium Information
Tariff Codes (many countries)

Price of Nickel

Nickel Graph Temporarily Down

1 and 5 year nickel chart

JP Morgan Delayed Price

Daily Commodity Prices

Site Pages

Nickel Price Charts/Forecasts
Stainless Steel Graph/Charts
Stainless Steel Surcharge
Nickel/Stainless Research
Stainless Steel Literature
Make your own charts
Ferrochrome Facts
Worldwide PMI

Archives

2020
January February

2019
January February March
April May June July August
September October
November December

2018
January February March
April May June July August
September October
November December

2017 and prior



nickel news




Nickel Publications at Amazon

Contact author  /   EStainlessSteel Home Page

Your free daily news source for nickel, molybdenum, ferrochrome, chromium, iron ore and stainless steel market prices and news.

Any reproduction in whole, or in part, without permission from the author is prohibited.
© 2003-2019