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Friday, May 30
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
$8.57/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.17/lb
higher, with other
London traded base metals trading mostly lower and quietly. Stockpiles of
nickel stored in LME licensed warehouses rose for a third consecutive session
and now total just shy of the 284,450 tonne level. Nickel is trading higher
at the moment, but technical signals are sending mixed signals and it is
possible we are seeing an early morning dead cat bounce. Or the market has
found support and wants to enter June on a bullish tone. The rest of the
day's trading will tell the story. Whatever happens today, the price of nickel
will end the month much higher than it started. And there is no reason to
believe that will end anytime soon. Have a safe and relaxing weekend and
we invite you back next week.
Average price of cash nickel so far this month - $8.82/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
North American
Stainless Press Announcement - Effective with shipments June 1, 2014, North
American Stainless will increase prices for Long Products, including angle,
round bar and wire rod by 5-7%. Effective with shipments June 1, 2014, North
American Stainless will increase Hot Roll flat products for CMP, Discrete
Plate and Pipe & Tube prices by $ .02 lb.Furthermore, North American
Stainless will increase base prices for all Cold Roll 201 grades....
New
Caledonia to allow Vale's nickel mine to restart - New Caledonian authorities
will allow mining giant Vale to restart nickel mining activities as early
as Friday after suspending operations at the $6 billion plant more than three
weeks ago due to an effluent spill. -
more
Goro nickel project is not just Vale's problem now: Andy Home - It's hard
not to have a grudging respect for Brazil's Vale when it comes to the company's
Goro nickel project in New Caledonia. -
more
China's Import
& Export Results of Nickel in April 2014 - The customs statistics of
China shows the import & export results of nickel-containing products
in April 2014 in the table below. -
more
Price
rise boosts nickel industry optimism - One of Australia's premier nickel
producers says the recent rise in price is breathing new life into the strained
industry. -
more
China plans
to launch nickel, tin futures this year -report - The Shanghai Futures
Exchange is planning to launch China's first nickel and tin futures this
year, local media reported on Friday, as part of steps to internationalise
the country's commodity markets. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 29
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
$8.73/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.21/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses rose by over 3000 tonnes, and now total over the
283,650 tonne level. Before this month, the last time we saw a one day increase
of over 3000 tonnes was last September, Now, here in May of 2014, with grave
warnings of a future with supply falling short of demand echoing from all
corners, we have seen stockpiles of nickel increase by over 3000 tonnes on
two separate days. We are now only 3,012 tonnes shy of the all time record
high, and 22,194 tonnes ahead of where we started the year with. Nickel deficit?
Not yet. China Custom reports imports of nickel ore in April from Indonesia
fell 90% from last April, while imports of nickel ore from the Philippines
rose 40%. Overall, total nickel ore imports fell 55%. We reported yesterday
the nickel market was building up tension and yesterday afternoon, that tension
snapped, with the market falling sharply. That defection continues today.
Another interesting note - cancelled warrants has fallen below the 40% reading
for the first time since February 5th. It would appears that some are taking
profits before the end of the month. Stainless buyers who an afford to wait,
will now move to the sideline as this most recent wave of volatility works
itself out. Some will take a chance and buy while the price is down, while
others will wait to see if the price falls further. Only time will tell who
played it right this time.
Average price of cash nickel so far this month - $8.84/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) The US domestic price for hot rolled band rose to a 26 month high at
the end of May 2014, up $7/t from mid-May to $763/t, according to the latest
World Steel Dynamics SteelBenchmarker. Meanwhile, domestic HRB prices fell
in both China and the EU, down $3/t and $4/t, to $451/t and $589/t respectively.
The world export price for HRB remained unchanged at the end of May, at $552/t.
Iron Ore Tumbles to Lowest Since 2012 as Global Glut Widening -
more
South Africa's mines minister: from hunter to strike buster -
more
Policemen
shot, wounded near New Caledonia nickel mine - Two French police on the Pacific
island of New Caledonia were shot and wounded on Wednesday by young Melanesians,
angered by mining giant Vale's chemical spill in a river. -
more
Global
Nickel market surplus dropped over 50% over the year in March: INSG - According
to International Nickel Study Group (INSG), the surplus in global nickel
market dropped significantly during the month of March this year. -
more
The Nickel
Supply Squeeze Is Just Getting Started - Back in January, I wrote a column
explaining the supply-demand squeeze in nickel. -
more
Zimbabwe:
BNC Targets Increase in Nickel Production - Bindura Nickel Corporation is
targeting a 42 percent increase in nickel production within the next two
years as the company intensifies efforts to restart its smelter shut down
during the hyperinflation era. -
more
Eyes on China
as steel needs ease - People acknowledge China's commodities demand - fueled
by a boom in the last decade - is easing. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, May 28
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
$8.92/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals mixed and mostly quiet. Stockpiles of nickel stored
in LME licensed warehouses rose on Monday and ended the session just over
th 280,500 tonne level, and a new two month high. Nickel has done very little
in the way of movement over the last three sessions, and tension is starting
to build up. For the first time in what seems like a long time, the short
term trend for nickel has turned neutral, while the mid and long term remain
bullish. More than likely, this is a momentary setback for the metal, as
even we will admit that eventually, stockpiles of nickel will start falling
and the market will get jittery. But the chicken little faction has yet to
present any evidence of an immediate and impending disaster, and rising stockpile
numbers over the last few weeks, have silenced some of the more vocal. Both
China stainless steel indexes we monitor are retreating, after both made
unusually strong jumps on the 12th and 13th respectively. Goro has yet to
re-open according to local media there, and Norilsk's annual shipment stoppage
due to flooding, has not been reported to have begun yet.
Average price of cash nickel so far this month - $8.84/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
QCG Resources Seeks 2015 Restart for Avebury Nickel Mine -
more
(Yieh) Yieh United Steel Corp. (Yusco), the largest integrated stainless
steel mill in Southeast Asia, has announced to raise the prices on its products
for June.
Miners rally in favour of separatists in eastern Ukraine -
more
Capitalism is doomed if ethics vanish, says Bank of England governor -
more
Carney and Lagarde acknowledge City's primeval will to survive -
more
2014 World Ni Production Anticipated to Be Down for First Time in 4 Years
= China's NPI production decreases drastically due to Indonesia's export
ban on Ni ore = The latest outlook for world nickel production shows there
is a strong possibility the production in the calendar year 2014 will be
down from the prior year. Supposing the production decreases, it will be
for the first time in 4 years. -
more
New
Caledonia Vale damage tops US$34m - The damage caused by vandalism at the
Vale nickel plant in New Caledonia is now estimated to be more than 34 million
US dollars. -
more
Protesters attack Vale’s New Caledonia nickel mine after effluent spill
- Dozens of protesters have caused tens of millions of dollars in damage
to vehicles, equipment and buildings at a nickel mining site in New Caledonia,
as anger boiled over at a chemical spill into a local river. -
more
US reduces
anti-dumping duty on Vietnam’s steel pipe - The Vietnam Competition
Authority (VCA) announced on May 27 that the US Department of Commerce (DOC)
has lowered anti-dumping tax, on Vietnam’s stainless steel pressure
pipes, to 16.25%. -
more
Rally
in nickel spurs sales of stainless steel - Mining companies are not the only
ones benefiting from this year’s nickel rally. Stainless-steel makers
in Europe, who use the metal, are seeing a surge in sales as customers stock
up to avoid higher raw-material surcharges. -
more
Talvivaara
posts seven million euro loss - Wednesday’s first-quarter results for
the beleaguered mining company show some improvement, with an operating loss
of 7.1 million euros compared to 20 million a year earlier. -
more
Courtesy AISI
- In the week ending May 24, 2014, domestic raw steel production was 1,875,000
net tons while the capability utilization rate was 78.0 percent. Production
was 1,833,000 net tons in the week ending May 24, 2013, while the capability
utilization then was 76.5 percent. The current week production represents
a 2.3 percent increase from the same period in the previous year. Production
for the week ending May24, 2014 is up 2.0 percent from the previous week
ending May 17, 2014 when production was 1,838,000 net tons and the rate of
capability utilization was 76.4 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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 27
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
$8.91/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
licensed warehouses fell slightly on Friday and now total just over the 280,300
tonne level. China media is reporting stockpiles of nickel ore rose last
week, from 19.21 million tonnes the prior Friday, to 19.4 million tons last
Friday. LME stockpiles rose during this same week as well. Nickel has hit
a line of resistance at $9.00lb, but it appears to be more psychological
than technical. The shortened week is also the final week of May, putting
2/3 of the second quarter to bed. Media is giving the unrest in New Caledonia
the credit for the slight bump in nickel trading, but considering Goro has
been closed for awhile now due to a spill, we doubt this has much to do with
trading.
Average price of cash nickel so far this month - $8.83/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SG) According to International Nickel Study Group, surplus in global nickel
market was 3,600 tonnes in March compared to a surplus of 7,600 tonnes during
the same period of last year.
China steel, iron ore futures edge up despite demand concern -
more
Potanin’s ex-wife sues for attachment of his property in Cyprus court
-
more
Stainless-Steel Sales Jump as Nickel Costs Spur Stockpile - Mining companies
aren’t the only ones benefiting from this year’s nickel rally.
Stainless-steel makers in Europe, who use the metal, are seeing a surge in
sales as customers stock up to avoid higher raw-material surcharges. -
more
Protesters
burn vehicles, buildings at New Caledonia nickel mine - Rioters torched vehicles,
equipment and buildings at Vale's nickel mine in the French Pacific territory
of New Caledonia over the weekend, as anger boiled over about a chemical
spill in a local river. -
more
New Caledonia nickel plant to resume any time from tomorrow - The New
Caledonia business organisation MEDEF says the Vale nickel processing plant,
which has been closed for almost three weeks, will resume operations any
time from tomorrow. -
more
LME Mo
Inventory Continues to Be at Low Level of 60 Tons = Because of production
curtailment and demand increase in Europe and USA = As of May 19, LME molybdenum
inventory continues to be at a low level of 60 tons. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, May 23
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
$8.93/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading higher. Stockpiles of nickel stored in
LME licensed warehouses rose on Thursday to a two month high of just over
280,400 tonnes. According to the medai, Norilsk has yet to suspend shipments
due to flooding on the river its ships must use. This is a seasonal situation
and we are already a week later than last years shutdown. We keep talking
about this because we suspect it may be the trigger to start another bullish
run. Hopefully traders have sense to know its a temporary situation but who
knows what gets their attention in a bull market. The LME market is
closed on Monday for Spring Bank Holiday and we Americans are closed to pay
tribute to those veterans who have paid the ultimate sacrifice. Have safe
and relaxing weekend and we will see you next Tuesday.
Average price of cash nickel so far this month - $8.83/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Euro hits three-month low after German data surprise -
more
China's imports adjust to reflect Indonesian ore ban: Andy Home - Indonesia's
ban on the export of unprocessed minerals has been in force for more than
four months, cutting off flows of nickel ore and bauxite to China. -
more
Palmer's
net worth soars on nickel price - Clive Palmer is set to reap a windfall
from the rising price of nickel, with his Yabulu mine set to rake in up to
$2.8 billion annually if Macquarie Bank’s price forecasts on the metal
are correct. -
more
The economic
consequences of standing up to China - In the popular imagination, conflict
with China promises multiple outcomes, most of them bad: dead soldiers on
far-off islands, massive unemployment among overseas workers, cheap goods
disappearing from stores. -
more
El Nino
Hype And A Look At Commodities - Weather is presently dominant in the wheat,
natural gas, corn and some other markets like cotton. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 22
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
$8.80/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.08/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses fell on Wednesday and now totals just over the
279,650 tonne level. So far today, nickel has not been able to trade above
the 10 day moving average, but the trading day is not over. RSI and Stochastic
readings have fallen into the 50's range, while momentum readings have also
slipped, but all indicators remain bullish.
Average price of cash nickel so far this month - $8.82/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Morgan Stanley - Global Metals Chartbook May 2014) - Nickel is one of the
top performing commodities of the year, solely on the back of expectations
of a severe supply squeeze appearing by year-end. Higher prices are here
to stay.
Colombia oil, mining industries push for leaner regulations -
more
Bright Spots Offer Hope for Indonesian Economy -
more
High nickel stocks unlikely to bring rally to an end - High global stock
levels of nickel, while worrying some investors, are unlikely to end a rally
that started in January, because some is not available and the rest is not
enough to replace lost supplies from Indonesia. -
more
New
Caledonia nickel workers not paid after Monday - Vale says workers at its
New Caledonia nickel processing plant, which has had its operations suspended
for more than two weeks, will be paid until next Monday. -
more
Concerns over spills at New Caledonia nickel processing plant - A nickel
expert says questions need to be asked about Vale's risk management procedures,
workers' behaviour and the design of its processing plant in New Caledonia
to find out why spills keep happening there. -
more
Bans
and price lift help BHP to exit nickel - BHP Billiton chief executive
Andrew Mackenzie would do well to send Indonesia’s political
leadership a note of thanks for making BHP’s well-baked plans to quit
its historic West Australian nickel operations (Nickel West) much easier
to achieve. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, May 21
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
$9.02/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.20/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses rose to a May high of just over 280,000 tonnes.
Yes, that's right. The highest total reported for the month, coming smack
dab in the middle of a period when nickel shortage potentials are leading
prices higher. IN fact, that is more nickel in LME warehouses than
they have seen since the 8th of April. Nickel was trading around $7.50/lb
back then. Please keep in mind when you read about nickel shortages that
we are currently only 6,654 tonnes shy of the all time record high set back
on March 27th. Technical charts show support at $8.41/lb but we would be
surprised if the price fell that low, as the trend remains bullish. For those
who have the luxury - or burden - or buying nickel on a daily basis, the
market is cutting you some slack and testing your resolve. For those of us
who buy stainless steel down channel, we have yet to witness the price increases
still yet to make its way thru the system.
Average price of cash nickel so far this month - $8.82/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Norilsk
Nickel to sell 2 enterprises in Australia - Norilsk Nickel will sell its
Avalon and Cawse nickel assets currently held in care and maintenance in
Western Australia to Wingstar Investments Pty Ltd. -
more
Glencore
seeks exception to air standards - Mining giant Glencore is requesting an
exception for the Sudbury smelter's nickel emissions. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, May 20
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
$9.19/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.22/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses fell for a second day and now total just under
the 279,150 tonne level. Did someone same volatility? Up 10, down 10, up
5, down 3, a person will get a headache trying to follow this market too
closely. Nickel's high in this run so far has been $9.80/lb on May 13th.
$9.61/lb remains major resistance, while $20,000/tonne appears to be putting
up a psychological barrier. The LME also raised margins rates on nickel from
$1,600 to $1,756 per tonne beginning May 23rd, which could temper the bullish
exuberance somewhat. And while nickel is experiencing a directional misfire
- stainless steel prices continue to increase, and based on our index and
two others we monitor in that country, prices jumped at a staggering rate
in China last week. For US consumers, the interesting times have only just
begun.
Average price of cash nickel so far this month - $8.80/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MP) China nickel ore imports down 59.21% in March 2014
(MF) Taigang Stainless increases stainless list prices for May
Glencore Xstrata says will appoint a female director by year-end -
more
El Nino Alert Remains as Australia Sees Pattern by August -
more
‘Zimbabwe can learn from Cuba in resisting sanctions’ -
more
Tropical Pacific Ocean edges further toward El Niño -
more
Nickel
continues rollercoaster ride - Nickel jumped the most since 2012 as OAO GMK
Norilsk Nickel, the world's largest producer of refined metal, said the global
market will swing to a deficit next year. -
more
Uncertainty over Vale nickel plant in New Caledonia - There is continued
uncertainty over when Vale's nickel plant in New Caledonia will resume
operations, leaving those employed there in limbo. -
more
Courtesy AISI
- In the week ending May 17 2014, domestic raw steel production was 1,838,000
net tons while the capability utilization rate was 76.4 percent. Production
was 1,833,000 net tons in the week ending May 17, 2013, while the capability
utilization then was 76.5 percent. The current week production represents
a 0.3 percent increase from the same period in the previous year. Production
for the week ending May 17, 2014 is down 0.3 percent from the previous week
ending May 10, 2014 when production was 1,843,000 net tons and the rate of
capability utilization was 76.6 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, May 19
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
$8.63/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.34/lb
higher, with other
London traded base metals trading higher as well. Stockpile numbers for LME
licensed warehouses is not available yet this morning, so we are unable to
advise. China media is reporting laterite ore stockpiles held at Chinese
ports slipped .001% last week, and fell from 19.23 million tons to 19.21
million tons during the five preceding days. Our Chinese stainless steel
index is nearing the 100 point level, after opening the year at 80.23. That
puts Chinese stainless steel prices about 20% higher from the first of the
year, with nickel prices trading about 33% higher. Nickel has bounced back
showing traders are still confident in the market and that the bulls are
firmly in charge of the market. We should be getting an announcement from
Norilsk in the near future that they will be shutting down shipments due
to flooding on the Yenisei. This is an annual event, and has no affect on
stockpiles but in a bull market, every it of news makes a difference.
Average price of cash nickel so far this month - $8.80/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) Deutsche Bank expects LME nickel prices to average around $17,050 a
ton this year and $20,625 a ton next year.
Two Chinese workers abducted at protest-plagued mine in Myanmar -
more
Chinese firms more aggressive in hunt for Australian resources -
more
Jakarta
jubilant as nickel soars, China plans smelters - When Indonesia vowed to
halt exports of mineral ore to wring more profit from its rich resources,
many predicted the policy would be an economic own-goal. -
more
Norilsk
Sees Nickel Surplus at Smallest in Four Years - OAO GMK Norilsk Nickel, the
world’s largest producer of the metal, forecast the market surplus will
shrink to the smallest in four years in 2014 after the Indonesian ban on
ore exports. -
more
China’s
Nickel Advantage Seen by KMR Removed as Europe Gains - KMR Stainless AG,
a stainless steel scrap processor, will report at least a 30 percent jump
in sales by tonnage this year, and 20 percent next year, according to Roland
Mauss, chief financial officer of KMR in Muelheim an der Ruhr, Germany. -
more
Production
Plan for Special Steel Products in Apr-Jun 2014 Is 5.094 Mil. Tons = Up by
0.8% from year-earlier period, but production of stainless steel decreases
= The Ministry of Economy, Trade and Industry has recently made clear the
production plan for hot-rolled special steel products in the period from
April to June in 2014. -
more
Growth Continues
in the U.S. in April - Growth continued in the United States for both steel
and aluminum on a year-over-year basis. Canadian steel and aluminum shipments
declined year over year in April. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, May 16
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
$8.45/lb
. Prices
ended Tuesday at $9.48/lb
, and Wednesday at $8.90/lb
. Indicators at 7:00
am CST today show 3 month nickel trading around $.18/lb
higher with other London
traded base metals trading mostly higher as well. Stockpiles of nickel stored
in LME licensed warehouses rose for a second consecutive session and now
total just over the 279,800 tonne level. That bis shortage of nickel that
traders are banking on, isn't quite happening yet, with stockpiles yesterday
only 60 tonnes lower than they ended April at and only 6,858 tonnes lower
than the all time record high set on March 27th. Of 11 sessions recording
stockpile changes this month so far, six have seen increase, with five recording
decreases. And look what happened to the price while we were traveling! If
any of you stainless steel consumers want to send us a big check, we will
take next week off and see what the price of nickel does. We are back today
and the price is up again - just saying. The last two days saw a correction
in the price of nickel, after hitting a level of resistance we posted on
Monday. The drop was as dramatic as the rise the three days prior had been.
The trading price fell from a high of $21,600/tonne on Tuesday to a low of
near $18,000 tonne yesterday. We see minor resistance at $8.90/lb, but if
our next bounce is equal to the last, that level won't mean much to the market.
Next week could be interesting. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $8.81/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(BM) Macquarie Bank has lifted its 2014 nickel price forecast by 25 percent
to an average of $19,911 per tonne.
North American
Stainless - Effective with shipments June 1, 2014, North American Stainless
will increase prices for all Cold Roll grades in 200, 300, and 430 series.
This will be achieved by reducing the discount by 2% points and will be applied
to the updated North American Stainless Cold Roll price schedule.
Thursday
- Nickel Plunges Most Since 2011 as Surge Judged to Be Overdone - Nickel
slumped the most since 2011 in London as investors judged a rally that lifted
the metal’s price as much as 56 percent this year to be exaggerated.
-
more
Asian molybdenum
oxide powder market divided following overnight fall - Some sellers of molybdenum
oxide powder in Asia have lowered offers Friday, following falls during European
trading hours Thursday, while others kept their offers at $14.70-14.80/lb
CIF, market sources said. -
more
Nickel’s
Roller-Coaster Plunge Isn’t Over, Goldman Says - Nickel’s
roller-coaster ride this year is far from over as the highest prices in two
years prompt expanded capacity for smelting and discourage purchases by
steelmakers, according to Goldman Sachs Group Inc. -
more
New
Caledonia govt says receives report on Vale spill - Global miner Vale late
on Thursday submitted a report on an effluent spill at its nickel operations
in New Caledonia to the local government, a government official said. -
more
Japan's Sumitomo
Metal sees rising risk of ferronickel output cut - Sumitomo Metal Mining
Co Ltd , Japan's biggest nickel smelter, said there was an increasing risk
it could cut production of key stainless steel ingredient ferronickel, amid
growing concerns about ore shortages. -
more
What
Do Surging Nickel Prices Mean for Vale and BHP Billiton? - Nickel prices,
which were under tremendous pressure last year due to oversupply of the metal
amid tepid industrial demand, vaulted above $20,000 per ton at LME in the
preceding week after the Brazilian mining giant, Vale (NYSE: VALE ) decided
to suspend nickel production activities at one of its facilities. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, May 13
We
are traveling on business the next few days and it appears we will be unable
to update this site until Friday. We apologize for the inconvenience.
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
$9.61/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 lower. Stockpiles of nickel stored
in LME licensed warehouses rose for a third consecutive day and total just
shy of the 279,000 tonne level. It appeared nickel might have actually met
a line of resistance that could potentially live up to its name, but nickel
has recently gone green and is on the rise again. Stainless steel prices
are rising rapidly now, and panic is starting to creep into areas of the
stainless steel market again. Old timers have seen this kind of nonsense
before and buying now shifts from offensive to aggressive defense. Every
day inventory becomes more valuable, and it costs much more to fill holes.
No one risks talking in long terms these days when it comes to contracts.
But daily business must go on. Protect yourself, protect your customer, and
ride the storm.
Average price of cash nickel so far this month - $8.66/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(NFIB) The NFIB Index of Small Business Optimism jumped 1.8 points from last
month to 95.2. This is the first time the Index has reached 95 since October
2007.
New report reveals scale of LME's warehouse challenge : Andy Home -
The London Metal Exchange (LME) has just released the first of its promised
new reports, detailing registered stocks by warehouse operator and the length
of load-out queues at affected locations. -
more
How high can
nickel soar? - Nickel surged to US$20,900 a tonne on the London Metals Exchange,
a price not seen in 27 months. -
more
Japan's Pacific
Metals says has secured enough nickel ore for this yr - Pacific Metals Co
Ltd, Japan's biggest ferronickel maker, said it had secured enough supplies
of nickel ore for this financial year, amid surging nickel prices as supply
concerns grip the market -
more
Official’s statement buoys Xstrata Nickel’s Dominican Republic
mine plan - The assertion by the Minister of Energy and Mines that high altitude
agriculture and firewood and charcoal trafficking, the use of pesticides
and other chemicals in farms, and the extraction of construction aggregates
from rivers threaten Dominican Republic’s environment more than mining
could boost several mining projects, especially Xstrata Nickel Falcondo’s
at Loma Miranda. -
more
Import of
SUS Products in March 2014 Is 22,793 Tons = Up by 14% from prior month, and
all-time high level since July 2007 = The import volume of stainless steel
products in March 2014 which was compiled by the Japan Iron and Steel Federation
based on the trade statistics prepared by the Ministry of Finance was 22,793
tons, up by 14.2% from 19,951 tons of the prior month, which is an all-time
high level since July 2007. -
more
Chinese Steel
Exports Likely to Hit 70 Million Tonnes This Year - The Chinese Customs report
says that the total steel export in March was nearly 6.76 million tonnes.
-
more
Courtesy AISI
- In the week ending May 10, 2014, domestic raw steel production was 1,843,000
net tons while the capability utilization rate was 76.6 percent. Production
was 1,833,000 net tons in the week ending May 10, 2013, while the capability
utilization then was 76.5 percent. The current week production represents
a 0.5 percent increase from the same period in the previous year. Production
for the week ending May 10, 2014 is up 1.5 percent from the previous week
ending May 3, 2014 when production was 1,815,000 net tons and the rate of
capability utilization was 75.5 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, May 12
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
$9.16/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.42/lb
higher, with other
London traded base metals trading higher, although much quieter. Stockpiles
of nickel stored in LME approved warehouses rose for a second session on
Friday and ended the week with just under the 278,800 tonne level. According
to Chinese media, stockpiles of nickel ore stocked at Chinese ports saw a
slight decline last week, with totals slipping from 19.3 million tons to
19.23 million tons from May 4th. The euphoria from last weeks trading
has carried over the weekend and Friday's close above the $9/lb level
for the first time since February 2012, seems to have set no barrier. If
we thought the $20,000 tonne level might put up a psychological barrier,
we were wrong. Even the $9.27/lb line of technical resistance seems to be
a joke and we hesitantly put $9.63/lb as a major line of resistance. In other
words, we have no clue where this is going. There is no shortage of nickel,
and there will be no shortage of nickel anytime soon. So we are witnessing
a market feeding on itself and momentum run amuck. We can complain about
it, but stand out of the way, because nothing appears to be slowing dow this
bull.
Average price of cash nickel so far this month - $8.53/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel’s bull run picks up momentum - Nickel's bull run has just
gone into overdrive. On the London Metal Exchange (LME) three-month metal
has gained almost $1,900 per tonne in the space of a couple of days, on Friday
hitting a 26-month high of $20,500. -
more
Nine
Nickel Smelters Seen in Indonesia This Yr After Ban - Indonesia forecasts
that nine nickel-processing plants may be completed this year after the largest
mined producer banned raw ore exports in January, spurring a rally in refined
prices to the highest level since 2012. -
more
Jinchuan
May Have to Compete with BHP to Secure Nickel - Jinchuan Group Co., China’s
largest refined nickel producer, may have to compete with BHP Billiton Ltd.
for supply from Western Area Ltd.’s operations, the Australian producer
said. -
more
New
Discovery in Philippines: a Plant That Thrives on Nickel - Researchers have
found a new species of plant is able to tolerate over 18,000 ppm of nickel
without suffering metallic poisoning. In comparison to other plants, which
have already been discovered to tolerate nickel in doses between 18 and 36
ppm, this new discovery is mind-boggling. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, May 9
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
$8.82/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.31/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stored in LME
licensed warehouses rose slightly on Thursday and now total just under the
278,150 tonne level. We will throw $9.27/lb out as a line of technical
resistance, but the $20,000/tonne psychological barrier didn't seem t slow
the market down today. RSI and Stochastic readings are not putting up any
barriers to traders yet, only slightly into over bought territory. The market
is back into an exuberant mood again, and trying to explain exuberance is
impossible. We will let the professional analysts give the explanations.
If worldwide stockpiles were much lower we would be concerned. If there wasn't
more nickel today in LME warehouses than there was just two weeks ago, we
might be concerned. If stockpiles of nickel ore in China had not risen last
week, we might be concerned. Goro? This is the fifth spill in the last five
years. Norilsk and Ukraine? Norilsk is getting ready to shut down shipments
for a month, like they do every year, because of flooding, regardless of
what may or may not be happening in Ukraine. Oh well - like we said - we
can't explain it. Have a safe and relaxing weekend!.
Average price of cash nickel so far this month - $8.41/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
ArcelorMittal lowers forecast for global steel demand -
more
New
Caledonia says to take legal action over Vale nickel spill - New Caledonia's
southern provincial government said on Friday it was starting legal proceedings
against Vale over environmental damaged caused by an effluent spill at the
miner's nickel operations. -
more
Vale New Caledonia explains spill - Vale in New Caledonia says the discharge
of solution from its Goro nickel processing plant has stopped after 100,000
litres of effluent, containing some acid, ended up in a creek. -
more
Vale NC must improve processes – environmentalists - WWF in New Caledonia
is urging the nickel company Vale to improve its risk management procedures
following its fifth spill in five years this week. -
more
Anglo May
Sell Brazil Nickel Unit to Vale, Deutsche Bank Says - Anglo American Plc,
which is reviewing assets globally as it tries to return to profit, may offer
its Brazilian nickel unit to the nation’s largest miner Vale SA as metal
prices increase, Deutsche Bank AG said. -
more
Putin Said
to Seek Chinese Investment With Bars on Mining - Russian President Vladimir
Putin plans to open the door to Chinese money as U.S. and European sanctions
over Ukraine threaten to tip the economy into recession, according to two
senior government officials. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 8
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
$8.48/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.33/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stockpiles
in LME licensed warehouses fell on Wednesday and now total just over the
277,950 tonnes. Apparently our dismay yesterday, that the market was not
reacting to the Goro incident, was premature. It appears the readers of this
blog were some of the first to hear about the incident and its big news on
the pay metals sites this morning. Speaking of pay metal sites, we noticed
one of the newer metal analysts out there announced yesterday, in a free
teaser, that if nickel rose above $8.39/lb, a bull market would be 'confirmed',
and buyers of stainless steel should hedge long term needs. Not sure if it
was last month, or maybe as early as March, when we made a similar recommendation
to our readers. Back to Goro, the news of a shutdown due to an acid spill
has finally triggered the bulls into another stampede. We are seeing reports
this morning that this spill may have been caused by human error, and if
true, and based on a history of numerous 'accidents' in its very short life
to date, someone at Vale needs to pay some professional risk managers to
analyze their set up and start putting in some back up safety measures. In
the mean time, technical resistance has been shattered and nickel is off
like a rocket once again.
Average price of cash nickel so far this month - $8.31/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(FAN) Finland based stainless producer Outokumpu announced that its stainless
steel shipments totaled 670,000 tonnes in the Q1 of this year, falling by
2.2% YoY from 691,000 tonnes.
Vale
New Caledonia explains spill - Vale in New Caledonia says the discharge of
solution from its Goro nickel processing plant has stopped after 100,000
litres of effluent, containing some acid, ended up in a creek. -
more
New Caledonia spill due to human error - The Association for the Protection
of Nature in New Caledonia believes the spill at Vale's nickel processing
plant yesterday was a result of human error. -
more
Angry community members block New Caledonian nickel plant after another toxic
spill - There's been another serious spill of toxic waste at the Vale nickel
processing plant in New Caledonia. -
more
China,
Japan scramble for nickel after Indonesian ban - Nickel buyers in China and
Japan are scrambling to secure supplies as soaring prices and a fear of shortages
boosts demand for both refined metal and long-term ore contracts. -
more
Stainless
steel firm Aperam sees further boost after early year pick-up - Luxembourg-based
stainless steel firm Aperam forecast a further improvement in core profit
after surpassing expectations in the first three months of 2014.
- more
Rising nickel
prices help Sherritt end proxy battle - Aided by the promise of rising nickel
prices, the besieged management of Sherritt International Corp. emerged
victorious from a proxy battle started by activist investor Clarke Inc. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, May 7
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
$8.42/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stored in LME
licensed warehouses fell sharply on Tuesday and now total just under 278,450
tonnes. Yesterday we said that last weeks trading peak of $8.46/lb was a
new line of resistance, and the market so far today, is showing that line
may be stronger than we thought. An exuberant bullish market takes every
little news bite and turns it into a reason to drive the market higher. The
news is feeding the market bullish news this morning, but the market is not
biting. This could be a sign the short term exuberance has fizzled for now
and the sideways direction of the last few weeks could signal the bull is
taking a break, but the bear is no where to be found. Of course this is all
speculation and the next hour could see the market shift back into hyper
drive. The news that Vale's Goro plant in New Caledonia has been ordered
to be shut down for an investigation into a possible spill, with news that
First Nickels' mine in Sudbury is closed for an investigation into the death
of two workers, following a possible seismic event. The El Nino alert issued
yesterday by Australia could mean water shortages for Indonesia, which could
mean future power generation problems for nickel mines there. And Ukraine
is one event away from a civil war and/or Russian intervention, which would
mean further economic sanctions, and these could include Norilsk Nickel exports.
Average price of cash nickel so far this month - $8.27/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Steel Rebar Falls to Record Low in Shanghai as Output Surges -
more
U.S. Fastener Imports & Exports both Jump in March -
more
First Nickel
says two workers dead at Sudbury mine - Two workers at First Nickel Inc's
Lockerby Mine have died in an accident underground at the Sudbury, Ontario
operation, the company said on Tuesday, bringing the total to six of those
killed in area mines in the past three years. -
more
New
Caledonia nickel plant suspended - The president of New Caledonia's Southern
Province Cynthia Ligeard has ordered immediate suspension of operations at
the Vale nickel processing plant at Goro following a reported serious incident.
-
more
Clive
Palmer's Yabulu nickel refinery dam overflow has not harmed environment,
tests show - Wastewater that overflowed from Clive Palmer's Yabulu nickel
refinery during a cyclone has not caused any environmental harm, Queensland's
Environment Department says. -
more
China says
steel output has plateaued, as iron ore output grows - China's steel output
has plateaued as tougher environmental measures have curbed capacity expansion
with mills also pressured by tighter credit, China's steel association said,
despite rapid expansion by iron ore miners. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, 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
$8.29/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.11/lb
higher, with other
London traded base metals trading mixed and much quieter. Stockpiles of nickel
stored in LME licensed warehouses fell slightly on Friday and ended the week
just over the 279,500 tonne level. Last weeks trading peak of $8.46/lb is
now minor resistance, and nickel looks to challenge that early. Once
again, analysts are blaming the situation in Ukraine for the rise in nickel
prices, and once again we question when fundamentals began to matter to trading
houses again. And in reality, its not any shortage of nickel that is driving
the price of nickel higher, it is the perception of that possibility and
the rush of new money taking advantage of a stand out money maker in the
market right now, that is helping the bull market feed on itself. For stainless
steel producers and stainless steel consumers, the outlook is defined in
two words - higher prices. RSI and Stochastic numbers are now out of overbought
territory, while momentum has slipped.
Average price of cash nickel so far this month - $8.23/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters Inside Commodities) A Reuters poll in April showed analysts expect
the nickel market to go from a 42,000 tonne surplus this year to a 60,050
tonne deficit in 2015.
Nickel Asia gets 1Q boost from one-time gain -
more
(SMM) Guangqing Nickel Industry Co. started construction of its 600,000-tpy
ferronickel project in Indonesia, Hexun.com reported May 2.
Tropical Pacific continues to warm; El Niño likely in 2014 -
more
El Nino Alert Signals Drought, Flood Risk for World’s Farmers -
more
Nickel to
Rally 20% Further Amid Indonesia Ban: Survey - Nickel is poised to rally
a further 20 percent this year as Indonesia’s ban on exports of ore
push the market toward a global shortage and unrest increases in Ukraine,
a survey of analysts and traders shows. -
more
Why Ukraine
Crisis Could Drive Nickel To $25,000/Tonne - Nickel has enjoyed a solid price
spurt in recent months, fuelled by fears over heavy supply disruptions after
Indonesia — home to around a fifth of total nickel production —
placed an export ban on nickel ore back in January. -
more
CMST Says
Consortiums Stockpile Nickel in China – An official from China Material
Storage and Transportation Co. (CMST) which runs the country’s largest
warehouse for nickel said that consortiums are stockpiling the metal, National
Business Daily reported today. -
more
Govt
to start work on KEK - Infrastructure development to support the Palu Special
Economic Zone (KEK) will commence later this year, Central Sulawesi Governor
Longki Djonggala has said. -
more
China's Jiuquan
Steel cuts May ferrochrome purchase price by Yuan 100/mt: sources - China's
Jiuquan Iron & Steel has cut its high carbon ferrochrome purchase price
by Yuan 100/mt ($16/mt) on the month to Yuan 6,500/mt (80 cents/lb), including
17% VAT, for May deliveries, industry sources said Monday. -
more
RI growth
disappointing - Indonesia’s gross domestic product (GDP) growth, which
slowed sharply to 5.2 percent year-on-year (yoy) in the first quarter of
2014 from 5.7 percent in the fourth quarter of last year, was well below
general expectations of 5.6 percent and also the weakest since the 4.3 percent
growth experienced in the third quarter of 2009, an expert said. -
more
Nickel mining
company may mine Oregon creek that feeds scenic California river - Residents
of Del Norte County in the upper reaches of California fear what may happen
if a company based in London follows through with plans to mine nickel along
the Smith River tributaries. -
more
New
Protected Area Is World's Largest - New Caledonia is a small island in the
Pacific Ocean with a population that's a tiny fraction of New York City's,
but the country just created the world's largest natural protected area.
-
more
Courtesy AISI
- In the week ending May 3, 2014, domestic raw steel production was 1,815,000
net tons while the capability utilization rate was 75.5 percent. Production
was 1,835,000 net tons in the week ending May 3, 2013,while the capability
utilization then was 76.6 percent. The current week production represents
a 1.1 percent decrease from the same period in the previous year. Production
for the week ending May 3, 2014 is down 1.1 percent from the previous week
ending April 26, 2014 when production was 1,835,000 net tons and the rate
of capability utilization was 76.3 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, May 5
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
$8.29/lb
.
The LME exchange is closed for Early May Bank Holiday. China is reporting
stockpiles of nickel ore held at major ports rose last week, ending the week
at 19.3 million tons compared to 19.29 million tons of April 25th. China
had a short week last week, but rising stockpiles is a little hard to understand
with the Indonesia nickel ore ban leading many to forecast a forthcoming
nickel shortage which is driving prices higher. The increasing tension in
Ukraine, and the possibility of further sanctions against Russia, including
the possibility of a ban against Norilsk Nickel, will weight on the market
this week, While we doubt the possibility of any such sanction would have
much of a negative effect on the market, it is the perception on an otherwise
bullish market, that is worth watching. Two out of three Chinese metals analysts
polled predict the price of nickel will fall this week. By Friday, we will
know if they were right.
Average price of cash nickel so far this month - $8.23/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) China’s stainless steel production rises by 15% in Q1
Sucden - Responding to supply uncertainties from Indonesia where the export
ban has been in place for 3 months and from Russia due to current geopolitical
tensions. Otherwise, the fundamental picture does not support prices higher
than its current levels. The range is expected to be $15,500 to $18,000.
China factory sector still losing momentum, HSBC PMI shows -
more
NAS Press release
- For the month of May 2014, North American Stainless will maintain the fuel
surcharge at 34% for stainless flat and long products. The surcharge rate
is considered a maximum level for May and will be reviewed monthly.
Global Crude
Stainless Steel output hits new record high in 2013; MEPS sees to grow further
in 2014 - Worldwide total crude stainless steel output in 2013 reached an
all-time high figure of 38.13 million tons. -
more
Edward Meir/INTL FCStone May 2014 Report - BASE - The following is an excerpt
from monthly market overview for May 2014, written by Edward Meir, Indepent
Commodity Consultant with INTL FCStone Inc. -
more
Few alarm
bells over ore export ban fears - Three months after the introduction of
a ban on raw mineral exports, officials have shrugged off concerns over the
negative impact the policy may have on future overseas demand and on hurdles
in the government’s attempts to create value-adding downstream industry.
-
more
China's crude
steel output up 2.4% in Q1 - China, the world's largest steel producer, saw
its crude steel output increase 2.4% year on year to 202.7 million tons in
the first quarter of this year, according to the latest statistics released
by the National Development and Reform Commission. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, May 2
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
$8.31/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
lower with other
London traded base metals trading mostly lower as well. We reported
stockpiles figures erroneously yesterday due to the May Day shutdown. Stockpiles
grew on Wednesday by over 3000 tonnes, and yesterday fell by nearly 350 tonnes,
to close Thursday just over the 279,500 tonne level. Nickel continues to
trade above the $18,000 tonne level, but momentum has shifted into neutral.
Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $8.20/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Commerzbank Commodities Radar - In our opinion, there is increasing potential
for price correction, with the cost of nickel likely to fall back below USD
15,000 per metric ton in the medium term.
Introduction to ore_forming_processes_notes
- more
Vale’s
profits continue slump as prices remain unfavorable - Nickel miner Vale Indonesia
saw its profits slump significantly in the first three months of this year
compared to the same period last year, as the commodity’s prices continued
to drop. -
more
Stainless
Crude Steel Production by Major SUS Mills in Mar. 286,011 Tons = Production
is up by 10.7% from prior month and up from prior month on the whole = The
stainless crude steel production by 7 major stainless steel mills in March
2014 was 286,011 tons, up by 10.7% from 258,434 tons of the prior month.
-
more
Nickel rally
aids Sherritt in activist fight - Nickel and energy producer Sherritt
International Corp. (S.TO 4.68 0.00 0.00%) is poised to fend off an attack
by activist shareholder George Armoyan, helped by the soaring price of the
industrial metal. -
more
Ramu Nico
Mine remain silent over ‘unknown gas’ leak at Basamuk - A prominent
landowner from Basamuk, Terry Kuning has been seeking avenues to publicize
what appears to be a threatening pollution issue from the nearby refinery
site owned by Ramu Nico in Madang Province. -
more
Sudbury-area
MP's comments perplex mining leader - The president of the Canadian Mining
Association says he’s perplexed by comments made by Claude Gravelle
earlier this week, likening them to something you’d hear in the 1970s.?
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, May 1
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
$8.31/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses fell on Wednesday and ended the month of
March just under the 276,850 tonnes level. Nickel continues to trade around
the $18,000/tonne level, with a weaker Dollar putting pressure on the traded
price. Much of the world is closed today for May Day celebrations. Lot of
reports due out of the US today, but yesterday's dismal first quarter GDP
reading of 0.1%, took most analysts by surprise. The depressing news was
quickly blamed on the harsh weather, and the US Federal Reserve, in an attempt
to show its confidence in the economic recovery, or an attempt to alleviate
any renewed concerns, announced another cut in its monthly quantitative easing
program. The price of nickel rose over $1/lb in April, after gaining
another $.50/lb in March. Momentum has sputtered over the past week. What
will May bring? Keep in mind, Norilsk always announces it has to cease shipments
from Dudinka due to spring flooding on the Yenisei River. While typically
not that important, the news may be welcomed by the market as further evidence
of stock restrictions.
Average price of cash nickel so far this month - $7.88/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) Taiwan’s Yusco raises stainless steel prices for May
(SSY) According to the latest World Steel Dynamics Steelbenchmarker, the
world export price for hot rolled band rose slightly in the second half of
April 2014, up $2/t in the last two weeks to $553/t. Chinese and EU HRB prices
declined slightly over the same period, down $4/t and $2/t, to $455/t and
$593/t respectively.
Universal Stainless Posts Improved First Quarter 2014 Results -
more
China’s war on pollution and its impact on commodities -
more
China's manufacturing growth rises in April
- more
Sherritt International's CEO Discusses Q1 2014 Results - Earnings Call Transcript
-
more
New Global
Crude Stainless Steel records in 2013 and 2014 - Worldwide total crude
stainless steel output in 2013 reached an all-time high figure of 38.13 million
tonnes. -
more
Vale CEO
sees nickel prices strengthening - Brazilian mining giant Vale believes nickel
prices could strengthen following Indonesia's ban on ore exports. -
more
Platts China
Steel Sentiment Index Indicates Slowed Demand Growth For May - Monthly Index
Totaled 50.34, down 21.80 Points From April's Reading of 72.14 -
more
Nickel bolsters
Vale's bottom line - Brazilian miner Vale SA said on Wednesday that first-quarter
profit fell by nearly a fifth, a result in line with expectations, after
the price of iron ore, its main product, fell sharply. -
more
China to
seek other sources of nickel ore after Indon export ban - China is likely
to seek other sources of supply for nickel and bauxite ore after Indonesia
banned the export of unprocessed ore early this year. -
more
Metals M&A
at Lowest Level Since 2008 - Merger and acquisition activity in the global
metals sector slowed significantly in the first quarter, falling to its lowest
levels since 2008, according to the consulting firm PwC U.S. -
more
Enigmatic former Xstrata boss seeks to build another mining giant -
Davis' mining venture has raised $3.75bn for new assets, insiders say he
feels keen rivalry with Glasenberg. -
more
China to overtake
U.S. as world's largest economy this year - The U.S. — the world's largest
economy since the 1880s — is on the verge of losing its status as the
world's largest economy, and is likely to slip behind China this year, says
the International Comparison Program, part of the World Bank. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.17/lb
higher, with other
London traded base metals trading mostly lower and quietly. Stockpiles of
nickel stored in LME licensed warehouses rose for a third consecutive session
and now total just shy of the 284,450 tonne level. Nickel is trading higher
at the moment, but technical signals are sending mixed signals and it is
possible we are seeing an early morning dead cat bounce. Or the market has
found support and wants to enter June on a bullish tone. The rest of the
day's trading will tell the story. Whatever happens today, the price of nickel
will end the month much higher than it started. And there is no reason to
believe that will end anytime soon. Have a safe and relaxing weekend and
we invite you back next week.
Reports
Commodity/Economic Comments
North American
Stainless Press Announcement - Effective with shipments June 1, 2014, North
American Stainless will increase prices for Long Products, including angle,
round bar and wire rod by 5-7%. Effective with shipments June 1, 2014, North
American Stainless will increase Hot Roll flat products for CMP, Discrete
Plate and Pipe & Tube prices by $ .02 lb.Furthermore, North American
Stainless will increase base prices for all Cold Roll 201 grades....
New
Caledonia to allow Vale's nickel mine to restart - New Caledonian authorities
will allow mining giant Vale to restart nickel mining activities as early
as Friday after suspending operations at the $6 billion plant more than three
weeks ago due to an effluent spill. -
China's Import
& Export Results of Nickel in April 2014 - The customs statistics of
China shows the import & export results of nickel-containing products
in April 2014 in the table below. -
Price
rise boosts nickel industry optimism - One of Australia's premier nickel
producers says the recent rise in price is breathing new life into the strained
industry. -
Morning Nickel
Price Statistics & Figures
Global
Nickel market surplus dropped over 50% over the year in March: INSG - According
to International Nickel Study Group (INSG), the surplus in global nickel
market dropped significantly during the month of March this year. -
The Nickel
Supply Squeeze Is Just Getting Started - Back in January, I wrote a column
explaining the supply-demand squeeze in nickel. -
Zimbabwe:
BNC Targets Increase in Nickel Production - Bindura Nickel Corporation is
targeting a 42 percent increase in nickel production within the next two
years as the company intensifies efforts to restart its smelter shut down
during the hyperinflation era. -
2014 World Ni Production Anticipated to Be Down for First Time in 4 Years
= China's NPI production decreases drastically due to Indonesia's export
ban on Ni ore = The latest outlook for world nickel production shows there
is a strong possibility the production in the calendar year 2014 will be
down from the prior year. Supposing the production decreases, it will be
for the first time in 4 years. -
US reduces
anti-dumping duty on Vietnam’s steel pipe - The Vietnam Competition
Authority (VCA) announced on May 27 that the US Department of Commerce (DOC)
has lowered anti-dumping tax, on Vietnam’s stainless steel pressure
pipes, to 16.25%. -
Rally
in nickel spurs sales of stainless steel - Mining companies are not the only
ones benefiting from this year’s nickel rally. Stainless-steel makers
in Europe, who use the metal, are seeing a surge in sales as customers stock
up to avoid higher raw-material surcharges. -
Talvivaara
posts seven million euro loss - Wednesday’s first-quarter results for
the beleaguered mining company show some improvement, with an operating loss
of 7.1 million euros compared to 20 million a year earlier. -
Glencore
seeks exception to air standards - Mining giant Glencore is requesting an
exception for the Sudbury smelter's nickel emissions. -
Jakarta
jubilant as nickel soars, China plans smelters - When Indonesia vowed to
halt exports of mineral ore to wring more profit from its rich resources,
many predicted the policy would be an economic own-goal. -
Norilsk
Sees Nickel Surplus at Smallest in Four Years - OAO GMK Norilsk Nickel, the
world’s largest producer of the metal, forecast the market surplus will
shrink to the smallest in four years in 2014 after the Indonesian ban on
ore exports. -
China’s
Nickel Advantage Seen by KMR Removed as Europe Gains - KMR Stainless AG,
a stainless steel scrap processor, will report at least a 30 percent jump
in sales by tonnage this year, and 20 percent next year, according to Roland
Mauss, chief financial officer of KMR in Muelheim an der Ruhr, Germany. -
Production
Plan for Special Steel Products in Apr-Jun 2014 Is 5.094 Mil. Tons = Up by
0.8% from year-earlier period, but production of stainless steel decreases
= The Ministry of Economy, Trade and Industry has recently made clear the
production plan for hot-rolled special steel products in the period from
April to June in 2014. -
We
are traveling on business the next few days and it appears we will be unable
to update this site until Friday. We apologize for the inconvenience.
Official’s statement buoys Xstrata Nickel’s Dominican Republic
mine plan - The assertion by the Minister of Energy and Mines that high altitude
agriculture and firewood and charcoal trafficking, the use of pesticides
and other chemicals in farms, and the extraction of construction aggregates
from rivers threaten Dominican Republic’s environment more than mining
could boost several mining projects, especially Xstrata Nickel Falcondo’s
at Loma Miranda. -
New
Discovery in Philippines: a Plant That Thrives on Nickel - Researchers have
found a new species of plant is able to tolerate over 18,000 ppm of nickel
without suffering metallic poisoning. In comparison to other plants, which
have already been discovered to tolerate nickel in doses between 18 and 36
ppm, this new discovery is mind-boggling. -
Anglo May
Sell Brazil Nickel Unit to Vale, Deutsche Bank Says - Anglo American Plc,
which is reviewing assets globally as it tries to return to profit, may offer
its Brazilian nickel unit to the nation’s largest miner Vale SA as metal
prices increase, Deutsche Bank AG said. -
Stainless
steel firm Aperam sees further boost after early year pick-up - Luxembourg-based
stainless steel firm Aperam forecast a further improvement in core profit
after surpassing expectations in the first three months of 2014.
-
Rising nickel
prices help Sherritt end proxy battle - Aided by the promise of rising nickel
prices, the besieged management of Sherritt International Corp. emerged
victorious from a proxy battle started by activist investor Clarke Inc. -
Global Crude
Stainless Steel output hits new record high in 2013; MEPS sees to grow further
in 2014 - Worldwide total crude stainless steel output in 2013 reached an
all-time high figure of 38.13 million tons. -
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
Ramu Nico
Mine remain silent over ‘unknown gas’ leak at Basamuk - A prominent
landowner from Basamuk, Terry Kuning has been seeking avenues to publicize
what appears to be a threatening pollution issue from the nearby refinery
site owned by Ramu Nico in Madang Province. -
New Global
Crude Stainless Steel records in 2013 and 2014 - Worldwide total crude
stainless steel output in 2013 reached an all-time high figure of 38.13 million
tonnes. -
