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page is archived news covering the period of May 2016
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Thursday, May 26
Our
next update will be Wednesday, June 1st.
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$3.79/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just under the 400,900 tonne level. Nickel appears to be getting a small
boost from a weaker Dollar this morning, but considering the size of the
jump in the Euro so fat today, their is little enthusiasm being shown for
nickel. US markets are closed on Monday for Memorial Day and our next update
will be Wednesday, June 1st.
Average price of cash nickel so far this month - $3.96/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Robin Bhar, head of metals research at Societe Generale in London - "Developments
on the supply-side also suggest caution and a less bullish view towards
nickel.... A singular lack of any significant production cuts/closures outside
of China's nickel pig iron (NPI) sector has not helped matters, while reported
and unreported inventories are said to be still substantial."
Oil’s Revival to $50 a Barrel Boosts Producers as Dollar Drops -
more
INSG Anticipates Demand & Supply for Ni in 2016 to Be Improved = Supply
is anticipated to be less than consumption due to continuing production
curtailment = The regular meeting of International Nickel Study Group (INSG)
was held during 25th to 26th of April in Lisbon, Portugal.-
more
U.S. levies
hefty duties on Chinese corrosion-resistant steel - Corrosion-resistant steel
from China will face final U.S. anti-dumping and anti-subsidy duties of up
to 450 percent under the U.S. Commerce Department's latest clampdown on a
glut of steel imports, the agency said on Wednesday. -
more
Why you shouldn’t complain about China ‘steel dumping’ and
make friends instead -
more
Once Bullish,
Miners Turn Bearish on Metals Prices - The rally in the price of metals is
over and few see it coming back soon, including the miners themselves. -
more
Government
prepares for controlled shut-down of Talvivaara - The Finnish Government
has determined that the best way to mitigate the risks related to Talvivaara
is to begin preparing for the controlled shut-down of the state-owned,
cash-strapped nickel mine in Sotkamo, Olli Rehn (Centre), the Minister of
Economic Affairs, revealed in a press conference on Wednesday. -
more
Palmer’s ultimatum on Yabulu’s future - Clive Palmer has tried
holding Townsville voters to ransom, warning the fate of the Yabulu refinery
could depend on his nephew’s performance at the federal election. -
more
Steel Imports
Into the US Down in April; Chinese Nickel Imports Up - Steel imports into
the U.S. were down in April and, if the numbers are able to be believed,
China is importing more nickel ore than ever before. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, May 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$3.81/lb. Indicators at
6:00 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just under the 401,900 tonne level. Nickel opened higher this morning but
the US Dollar strengthening is putting too much negative pressure on all
base metals trading, and nickel is currently at a session low.
Average price of cash nickel so far this month - $3.98/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
El Niño ends as tropical Pacific Ocean returns to neutral -
more
Stocks Rally With Oil as Don’t Fear the Fed Is New Market Mantra -
more
China's nickel
imports still flattering to deceive: Andy Home - China is importing
more nickel than ever before. Headline imports of refined metal hit a new
all-time record high of 49,012 tonnes in April. -
more
Production
of SUS Products in February 2016 Is 234,331 Tons = Down by 1% from prior
month, but production of Cr-Mn-type SUS products is at high level = The Ministry
of Economy, Trade and Industry announced the production volume of stainless
steel products (hot-rolled products) in February 2016 was 234,331 tons, which
was down by 1.1% from the prior month but up by 1.2% from the year-earlier
month. -
more
European
stainless steel alloy surcharges to rise in June - Monthly alloy surcharges
on austenitic grades of stainless steel flat-rolled products in Europe are
set to rise in June, mill announcements indicated. -
more
Writ
of Kalikasan filed vs mining firms, Zambales, DENR officials - CCOS chairman
Dr. Ben Molino and his co-petitioners say the continued mining operations
in Sta. Cruz, Zambales violate RA 7942, otherwise known as the Mining Act
of 1995, and its implementing rules and regulations -
more
Singapore’s exports down 9% on-year in Q1 2016 - The contraction was
driven by a decrease in both electronic and non-electronic exports, trade
agency IE Singapore says. -
more
Courtesy AISI
- In the week ending May 21, 2016, domestic raw steel production was 1,756,000
net tons while the capability utilization rate was 75.1 percent. Production
was 1,704,000 net tons in the week ending May 21, 2015 while the capability
utilization then was 72.1 percent. The current week production represents
a 3.1 percent increase from the same period in the previous year. Production
for the week ending May 21, 2016 is up 1.7 percent from the previous week
ending May 14, 2016 when production was 1,727,000 net tons and the rate of
capability utilization was 73.9 percent. -
source
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, May 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$3.78/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now
totals just over the 402,500 tonne level. Stockpiles numbers continue to
fall and look to fall below the 400,000 tonne level before the end of the
month. That will mean absolutely nothing but psychologically, it will give
hope that demand is exceeding supply. Nickel traded at a seven week low earlier
i today's session, and is currently trading slightly higher.
Average price of cash nickel so far this month - $3.99/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
‘Massive Bailout’ Needed in China, Banking Analyst Chu Says -
more
Dollar Rally Gathers Pace, Commodities Drop on Fed; Pound Jumps -
more
BHP breathes
life into Nickel West - A reinvigorated, low-cost Nickel West will be the
heart of WA’s nickel industry for decades to come, according to asset
president Eddie Haegel, as BHP Billiton flags investment aimed at extending
the ageing operation’s life until at least 2032. -
more
Colombia
coal, nickel output drop in first quarter - Colombian output of nickel and
coal fell in the first quarter, while gold, silver and platinum production
rose, the government said Monday. -
more
South
Korea's Import & Export Trends of Main Ferroalloys in April 2016 = Import
is up by 17% from prior month, and export is down by 19% = South Korea's
foreign trade statistics shows the import volume of main ferroalloys in April
2016 was 102,183 tons, up by 17.2% from the prior month and the export volume
was 26,139 tons, down by 18.9% ditto. The import details of main ferroalloys
are as shown in Table 1 and the export details in Table 2 respectively. -
more
Big banks'
first-quarter commodities revenue drops 40 pct - report - Commodities-related
revenue at the 12 biggest investment banks tumbled 40 percent in the first
three months of the year as lenders cut exposure to the oil and industrial
metals sectors, a consultancy said on Tuesday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, May 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$3.86/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell sharply on Thursday and
Friday and start the week just under the 402,900 tonne level. Base metals
are down sharply this morning.
Average price of cash nickel so far this month - $4.00/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Tweet) China April refined nickel imports up 168.8% y/y at 49,012 tonnes
(Reuters) A global nickel market deficit widened to 8,200 tonnes in March
from a month earlier, led by a surge in demand from China, International
Nickel Study Group figures showed.
Global stocks see-saw, yields slip as investors get week off to cautious
start -
more
New
Caledonia nickel sector 'fragile' - New Caledonia's nickel industry has been
found to be in a fragile position as large stocks are likely to prolong a
recent sharp drop in the price of the metal. -
more
Too costly
to shut: Mine sales stumble on looming clean-ups - Major miners are trying
to avoid hundreds of millions of dollars in closure costs by selling off
pits, as cash is tight due to a prolonged commodities price slump, but the
crippling cost of environmental rehabilitation makes it tough to seal deals.-
more
PH
metal production drops as world ore prices decrease - The country's metal
production dropped by 23% to P108.21 billion last year – an exact reversal
of the growth enjoyed in 2014 – dragged by the downward trend in world
ore prices. -
more
Clive
Palmer stepping away from Australian politics - Flamboyant Australian businessman
turned political figure Clive Palmer has given up on political life after
announcing he won't run for a senate seat at the upcoming election. -
more
Chinese commodity
futures just got crushed - Chinese bulk commodity futures endured another
bloodbath on Monday, recording falls of 5% or more. -
more
State finds
nickel in air near Precision Castparts above health benchmarks - State regulators
have found three cancer-causing heavy metals at levels above state health
benchmarks near Precision Castparts, a manufacturing plant in Southeast Portland.
None pose any immediate health risks, regulators said. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, May 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$3.92/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Wednesday and now total
just over the 405,650 tonne level. After trading at its highest in many months
just a few weeks ago, nickel is now trading at its lowest in a month. The
US Dollar continues to trade higher against the Euro, which adds negative
pressure on commodity trading. The Euro peaked earlier this month and has
been losing ground against the Dollar ever since. Compare a five year Euro/Dollar
trading chart to a LME nickel chart and you will see why it matters. This
is our last update for the week so we wish each of you a safe and relaxing
weekend.
Average price of cash nickel so far this month - $4.03/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Stocks Retreat to Six-Week Low as Fed Dents Bonds, Commodities -
more
Something
Happens in Asian Market of Austenitic Stainless Sheets = The market prices
have soared = Something has happened in the Asian market of austenitic stainless
steel sheets. In the past, prices had continuously dropped due to oversupply.
-
more
New
Caledonia reports minor acid leak at Vale nickel operations - Brazilian miner
Vale has had a minor acid leak at its Goro nickel operations in New Caledonia,
the government of the French Pacific territory said, two years after a large
chemical discharge at the same site sparked violent protests. -
more
Nothing
to fear from special liquidator: Clive Palmer - Clive Palmer says he's got
nothing to fear from the Federal Court's appointment of a rare special purpose
liquidator to investigate his companies' dealings over Queensland Nickel.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, May 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$3.99/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.09/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just over the 404,150 tonne level. If nickel stockpiles continue to fall
at half the rate they have the last four days, we will see LME stockpile
numbers fall below 400,000 tonne for the first time since November 2014.
US Dollar is trading higher today, and putting negative pressure on base
metals. Nickel had finally moved above the 100 moving day average yesterday,
but is back below that level this morning.
Average price of cash nickel so far this month - $4.04/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Dollar Strengthens as Emerging Markets Slide on Fed; Gold Drops -
more
Faced with falling volumes, what price liquidity for the LME? Andy
Home - Why are trading volumes falling on the London Metal Exchange? The
dominant global arena for trading industrial metals saw activity decline
by 4.3 percent last year, the first annual contraction since 2009. -
more
Ni SUS Scrap
Purchase Price in May in Kanto around JPY110,000 = Price cut was announced
at end of last month, which however does not prevail = In the middle of May
after the consecutive holidays were over, the stainless steel mills in the
Kanto area offer the purchase price (delivered at plant) of nickel-containing
stainless steel scrap (SABOT) at around JPY110,000 per ton. (Hereinafter,
the price is per ton.) -
more
‘World
will never be the same’ warns Norilsk Nickel chief - The mining industry
needs to get used to a “new reality” as low prices and volatility
are likely to persist this year, Sergey Dyachenko chief operating officer
of Russian miner Norilsk Nickel says. -
more
Norilsk Nickel Urges Output Cuts From Other Miners --Update -
more
South
African miners to bleed jobs in Zimbabwe - South African and other mining
groups in Zimbabwe will lay off employees to rationalise costs in the next
few months, despite platinum, gold and nickel registering growth during the
first quarter of the current year. -
more
Clive
Palmer's Queensland Nickel to be investigated by special purpose liquidator,
court rules - A special purpose liquidator has been brought in to claw back
tens of millions owed to the Federal Government by Clive Palmer's Queensland
Nickel. -
more
China
accuses U.S. of 'unfair methods' in steel dumping probe - The United States
has employed "unfair methods" during an anti-dumping investigation into Chinese
cold-rolled steel products and should rectify its mistakes as soon as possible,
China's commerce ministry said on Wednesday. -
more
Why you shouldn’t complain about China ‘steel dumping’ and
make friends instead -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, May 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$3.96/lb. Indicators at
6:00 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stocked in LME licensed warehouses fell on Monday and now totals
just over the 405,850 tonne level. The market continues to lick its wounds
after getting caught up in the recent China speculation boom and bust, with
prices now hovering around the 100 day moving average.
Average price of cash nickel so far this month - $4.05/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
European Stocks Advance, Yen Weakens; Pound Gains on Brexit Poll -
more
Clive
Palmer to sue Queensland Nickel administrators FTI Consulting for $1.2 billion
- Businessman and retiring federal MP Clive Palmer will sue the administrators
of his beleaguered Queensland Nickel refinery in Townsville for $1.2 billion.
-
more
China
iron ore, steel recover but sector prospects murky - Steel and iron ore futures
in China rose for the second day in a row on Tuesday, with the market rebounding
after last week's rout, but the outlook remains uncertain with underlying
demand still weak. -
more
China Nickel
Pig Iron price to drop this week - High-grade NPI prices in China’s
domestic market are expected to fall this week, Shanghai Metals Market foresees.
-
more
Norilsk
Nickel to invest about $6 bln in development until 2018 - In 2010-2012, the
company invested about $6.6 billion and in 2013-2015 the investment reached
$4.9 billion -
more
Vietnam’s
April steel imports surge 44% on year to 1.59 mil mt - Vietnam raised steel
product imports by 44.3% year on year to 1.59 million mt in April, according
to data released Friday by Vietnam Customs. -
more
Courtesy AISI
- In the week ending May 14, 2016, domestic raw steel production was 1,727,000
net tons while the capability utilization rate was 73.9 percent. Production
was 1,704,000 net tons in the week ending May 14, 2015 while the capability
utilization then was 72.1 percent. The current week production represents
a 1.3 percent increase from the same period in the previous year. Production
for the week ending May 14, 2016 is down 1.2 percent from the previous week
ending May 7, 2016 when production was 1,748,000 net tons and the rate of
capability utilization was 74.7 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, May 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$3.93/lb. Indicators at
6:00 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell sharply on Thursday and
Friday and start the week just over the 406,450 tonne level. Nickel is now
trading around its 100 day moving average.
Average price of cash nickel so far this month -
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Bull Market Losing Biggest Ally as Buybacks Fall Most Since 2009 -
more
China steel,
iron ore correction may be nearly over: Russell - Commodity markets like
to throw up little ironies, the latest being China's steel futures having
their worst week on record just as economic data came out that provided
fundamental support for prices. -
more
LME Mo
Price Marks New Record High of US$14,750/Ton for Year = Price returns to
level in end of last June = LME molybdenum prices for both cash seller/settlement
and 3-month seller rose to US$14,750 per ton (= US$6.69 per lb) on May 9,
which marked a new record high for the year, and is the high price for the
first time since the end of last June. (Hereinafter, the price is per ton).
-
more
Finnish
government plans $113 mln funding for nickel mine - sources - The Finnish
government is planning to inject around 100 million euros ($113 million)
into Terrafame Mining, the state-owned company that runs Talvivaara's former
nickel mine, but may eventually still have to close the operation, sources
said. -
more
Norilsk
Nickel updates on strategy - MMC Norilsk Nickel said in the period 2013-2015
significant progress was achieved in transforming the company into a world-class
run organisation, having built an efficient business platform enabling full
development of its best-in-class mining assets. -
more
Clive
Palmer backs fed liquidators for QNI - Embattled Queensland businessman Clive
Palmer has backed the federal government being appointed as a liquidator
to his failed Queensland Nickel business, saying he doesn't have confidence
in the current liquidator, FTI Consulting. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, May 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.03/lb. Indicators at
6:00 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stocked in LME warehouses fell slightly on Wednesday and remain
just over the 414,000 tonne level. Not much market related news today. The
30 day moving average is offering some resistance but the market sentiment
appears to have returned to optimism, albeit with far more caution than prior
weeks. This is our final update for the week so we hope each of you has a
relaxing and safe weekend.
Average price of cash nickel so far this month - $4.09/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Stocks Advance With Crude on Oil Demand Forecast; Krone Surges -
more
China steel, iron ore slip deeper into bear territory as exchanges keep up
pressure -
more
LME Q1
trading volume down 10% on year; quarter-end open interest down 5.5% - Total
trading volume on the London Metal Exchange was 39.5 million lots in
January-March this year, down 10% on the year, on an unfavorable global
macro-economic environment and depressed commodity prices, parent company
Hong Kong Exchanges and Clearing said Wednesday. -
more
LME Ni
Average Price in April Up by 2% from Prior Month = Trend is upward due to
speculators' buying on margin, and month-end price is grossly up from beginning
of month = LME monthly average nickel price in April 2016 was <> Cash
seller: US$8,852.62 per ton (US$4.015 per lb) and <> 3-month seller:
US$8,890.71 per ton (US$4.033 per lb). -
more
The Commodities
Producer That Dodged a Bullet When China Slowed - As Mitsubishi Corp. becomes
the latest player looking at quitting a major mining project in Indonesia,
along with the likes of Newmont Corp. and BHP Billiton Ltd., it would seem
the Southeast Asian nation’s economy is becoming another victim of the
great commodity slump. -
more
Queensland
Nickel: Sacked workers at Clive Palmer's Townsville refinery start getting
entitlements paid - It is finally payday for hundreds of sacked workers from
Clive Palmer's nickel refinery in north Queensland, with millions of dollars
owed in entitlements being paid into bank accounts. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, May 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$3.95/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just over the 414.000 tonne level. Traders appear to have plugged the hole
in the boat and thanks to a stabilized Euro, appear to have bottomed out
- at least for now. We are once again back to that technically irrelevant,
but psychologically important, $4/lb level. The 100 day moving average has
given the traded price of nickel the support it needed.
Average price of cash nickel so far this month - $4.13/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Chinese Optimism
For Steel And Iron Ore Evaporates In May - Most Chinese market participants
believe steel prices will likely fall over the next month due to weaker domestic
demand, according to the latest S&P Global Platts China Steel Sentiment
Index, which showed a headline reading of 46.98 out of 100 points. -
more
From bull to bear market: China commodities shakeout hits investors, threatens
mills -
more
Eastern China's steel mills cut ferrous scrap buying prices again -
more
China demand
uncertainty looms over steel prices: Irepas - Further steel production cuts
could consolidate some of the price increases seen in recent months. However,
questions over the sustainability of Chinese steel demand, as well as the
impending month of Ramadan and slower summer season call for caution, according
to International Rebar Exporters and Producers Association (Irepas). -
more
Industrial commodity prices headed lower, analysts say -
more
Taiwan's
Import of Major Ferroalloys in February 2016 Is 54,565 Tons = Down by 18%
from prior month due to Chinese New Year Holidays = According to the import
statistics of Taiwan, the import volume of major ferroalloys in February
2016 was 54,565 tons, down by 18.0% from 66,522 tons in the prior month.
-
more
BHP Billiton
joins Rio in shifting focus to growth - BHP Billiton has talked up its future
growth options, joining fellow mining giant Rio Tinto in marking a shift
in focus after four years of aggressive cost cutting. -
more
"Bored" Chinese
Workers Created "Uncontrollable Bubble" In Commodity Futures - With the collapse
of China's smoke-and-mirrors commodity bubble comes the post-mortem as the
horde of Chinese gamblers flood from one government-appointed market to another
as the American dream of get-rich-quick schemes appears to have been adopted
by the burgeoning middle classes now disillusioned with real work. -
more
Russian
environmental watchdog predictably restores license to polluting factory
– No sooner had chimneys pumping sulfur dioxide into Northwest Russian
and Scandinavia been stifled last month than they were given permission Tuesday
to carry on business as usual by Russia’s federal environmental oversight
agency, Rosprirodnadzor. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, May 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$3.90/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
higher, but struggling.
Stockpiles of nickel stored in LME approved warehouses rose slightly on Monday
and now total just over the 414,700 tonne level. Nickel fell sharply on Monday,
closing below the $4/lb level for the first time since mid April. It is safe
to say that April's speculative bubble has burst, and unless the market is
able to create another one quickly, any increase we saw in stainless steel
prices from this round, could disappear quickly.
Average price of cash nickel so far this month - $4.17/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
The World's Most Extreme Speculative Mania Unravels in China -
more
China steel, iron ore futures dive as demand worries batter commodities -
more
Eramet
agrees rescue plan for New Caledonia nickel business - The board of Eramet
agreed on Monday to financing and cost-saving measures to help its SLM nickel
business in New Caledonia survive a severe market downturn, supported by
a loan from the French government. -
more
Export Volume
of SUS Products in March 2016 Is 89,351 Tons = Up by 18% from prior month,
and exports to all main destinations are up = The export result of stainless
steel products in March 2016 which was compiled by the Japan Iron and Steel
Federation based on the foreign trade statistics prepared by the Ministry
of Finance was 89,351 tons, up by 18.1% from 75,645 tons in the prior month.
-
more
US slaps
preliminary import duty on Indian steel pipes - The US Commerce Department
on Wednesday proposed preliminary duties on welded stainless pressure pipes
imported from India stating the goods were being dumped in the US market
at below market prices. -
more
Solomons
to reallocate nickel prospecting license - The Solomon Islands government
says it will soon seek expressions of interest for prospecting rights to
high grade nickel deposits in Isabel Province. -
more
Courtesy AISI
- In the week ending May 7, 2016, domestic raw steel production was 1,748,000
net tons while the capability utilization rate was 74.7 percent. Production
was 1,704,000 net tons in the week ending May 7, 2015 while the capability
utilization then was 72.1 percent. The current week production represents
a 2.6 percent increase from the same period in the previous year. Production
for the week ending May 7, 2016 is up 2.2 percent from the previous week
ending April 30, 2016 when production was 1,711,000 net tons and the rate
of capability utilization was 73.2 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, May 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.11/lb. Indicators at
5:45 am CST today show 3 month nickel trading around $.10/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Friday after a slight
gain on Thursday and start the week just under the 414,700 tonne level. Nickel
is now not only trading below its 100 day moving average, but today has fallen
below the 30 day moving average. China PMI numbers early last week were
discouraging and the dice have been falling ever since. Import and export
numbers out od China overnight are now compounding the rout.
Average price of cash nickel so far this month - $4.22/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
European Stock Gains Defy China Data That Hurt Metals; Oil Rises -
more
Global
Stainless Steel Production Falls in 2015 - Recovery Expected This Year -
Worldwide crude stainless steel production in 2015 totalled just over 41.5
million tonnes. This represents a decrease of 0.3 percent, compared with
the peak figure, achieved in the previous year. -
more
China steel,
iron ore futures dive as demand worries batter commodities - Chinese commodities
dived on Monday, led by 6 percent falls in steel and iron ore futures, as
deepening worries about China's demand extended a fortnight of sharp drops
and false rebounds in the country's market for industrial metals. -
more
New
Caledonia's SLN awaits Eramet response - The French mining conglomerate Eramet
is today due to consider New Caledonia's offer to help save the SLN nickel
plant, which is the territory's most important private sector employer. -
more
Mitsubishi
to Sell Whole Shares in Weda Baby Nickel Project to Eramet - On April 25,
Mitsubishi Corporation announced that it would sell a 30.0% shareholding
owned by the Company in Strand Minerals Pte Ltd. to Eramet S.A. -
more
Forest Service
plan would impede nickel mine - A plan to exclude mineral development on
about 100,000 acres of federal land, to thwart a proposed nickel mine near
the Kalmiopsis Wilderness, is nearing fruition. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, May 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.28/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.08/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
over the 415,100 tonne level. Nickel is trading below its 200 day moving
average this week/month and is threatening to slip below its 10 day moving
average. The Euro continues to weaken and the economic news out of China
continues to disappoint. This is our last update for the week, so we hope
each of you have a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.30/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China's Great Commodity Bubble Loses Air Before It Can Burst -
more
Wednesday
in review - Copper falls on stronger dollar, weak manufacturing - Copper
prices fell on Wednesday on a stronger dollar and as weak manufacturing data,
particularly from top consumer China, highlighted poor demand prospects.
-
more
Tentative
New Caledonia nickel rescue deal - New Caledonia's provinces have given their
conditional approval for taking a loan from the French state to help the
territory's biggest private sector employer, the SLN nickel company, restructure
its operations. -
more
Vale:
Crippling Debt But Modest Potential - Vale has had a difficult time recently
watching its stock price take a significant hit since 2011. -
more
Clive
Palmer clashes with Ewen Jones over Queensland Nickel during live press
conference - An ugly spat between a federal Liberal National Party MP and
Clive Palmer over his Queensland Nickel refinery has erupted on live television.
-
more
Plan to exclude
mining near Kalmiopsis moves forward - A plan to exclude mineral development
on about 100,000 acres of federal land, to thwart a proposed nickel mine
near the Kalmiopsis Wilderness, is nearing fruition. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, May 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.32/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just under the 416,450 tonne level. Considering China's PMI number over the
weekend was disappointing, and the US Dollar is recoverying from a 2016 low,
nickel is holding its own very well today. Short term - watch the Dollar.
Average price of cash nickel so far this month - $4.33/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(ING) The International Nickel Study Group has projected a 49,000-tonne deficit
in the nickel market in 2016, an increase from its October forecast of a
23,000-tonne deficit for this year.
World stocks in retreat for second day on growth worries -
more
Tuesday
in review - Copper slides as China data and higher dollar weigh - Copper
fell on Tuesday as funds took profits and manufacturing data from China
undermined confidence, but expectations of stronger demand in the top consumer
helped support prices. -
more
Nickel Price
Higher, But Market Needs More Cuts for True Price Recovery - Nickel prices
ended fractionally higher on Tuesday, making it one of the only base metals
that managed to finish the session on a positive note following renewed strength
in the greenback and some disappointing economic data. -
more
In battle
with speculators, China wins skirmish as commodities fall - Chinese regulators
appear to have successfully popped a mini-bubble for now in steel and other
commodity futures, scaring off speculators who piled in last month to drive
steep gains in the prices of raw materials from coal to cotton. -
more
Palmer
takes parting shot as he retires - Clive Palmer will not be seeking re-election
for the parliament’s lower house. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, May 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.28/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $..08/lb
higher. Stockpiles
of nickel store din LME approved warehouses rose slightly on Friday and now
total just over the 417,500 tonne level. March is in the history books and
it was kind to nickel investors, seeing its best gains since last April.
Nickel prices ended up11% on the month. Friday's close above the 200 moving
day average sends a positive signal to the market, although the numbers coming
out of China do not justify much of the speculation we saw at the end of
April. The manufacturing PMI fell in China, the US and Japan, and increased
slightly in Europe hinting demand for stainless steel and nickel has a way
to go yet. LME nickel stockpiles fell 3.4% during April but still remain
well above the 400,000 tonne level. .
Average price of cash nickel so far this month -
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Reuters Metals Insider May 2 - (Metals Poll) -
pdf here
Australia's Central Bank Cuts Rates to Record Low -
more
How Shanghai trading is changing the physical nickel market - Andy Home -
Everyone's talking about Chinese speculators. This year has seen an unprecedented
surge of trading volumes and open interest in Chinese markets as institutional
and retail investors pour money into commodities. -
more
Russia's
Norilsk says Q1 nickel output down 6 pct y/y - Russia's Norilsk Nickel said
on Friday its first-quarter nickel output fell 6 percent year-on-year to
63,631 tonnes due to a reconfiguration of production facilities at its Polar
assets. -
more
French
PM commits 200 mln euros to support New Caledonia nickel producer - France
will lend up to 200 million euros ($228 million) to support struggling New
Caledonia nickel producer Societe Le Nickel (SLN), Prime Minister Manuel
Valls said on Friday. -
more
Japan's stainless
steel exports rise sharply in March - Japan’s stainless steel exports
during the month of March totaled 89,351 tons, rising sharply by 18.1% from
the previous month. -
more
QNI workers
join Labour Day March to slam Clive Palmer - Former Queensland Nickel workers
joined yesterday’s Labour Day march in Townsville with messages slamming
refinery owner Clive Palmer emblazoned on their uniforms. -
more
Courtesy AISI
- In the week ending April 30, 2016, domestic raw steel production was 1,711,000
net tons while the capability utilization rate was 73.2 percent. Production
was 1,649,000 net tons in the week ending April 30, 2015 while the capability
utilization then was 69.8 percent. The current week production represents
a 3.8 percent increase from the same period in the previous year. Production
for the week ending April 30, 2016 is up 1.6 percent from the previous week
ending April 23, 2016 when production was 1,684,000 net tons and the rate
of capability utilization was 72.0 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, May 2
LME markets
are closed today, with the first of May being a public holiday in much of
the world. We will resume market updates tomorrow.
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
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.
Our
next update will be Wednesday, June 1st.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just under the 400,900 tonne level. Nickel appears to be getting a small
boost from a weaker Dollar this morning, but considering the size of the
jump in the Euro so fat today, their is little enthusiasm being shown for
nickel. US markets are closed on Monday for Memorial Day and our next update
will be Wednesday, June 1st.
Reports
Commodity/Economic Comments
INSG Anticipates Demand & Supply for Ni in 2016 to Be Improved = Supply
is anticipated to be less than consumption due to continuing production
curtailment = The regular meeting of International Nickel Study Group (INSG)
was held during 25th to 26th of April in Lisbon, Portugal.-
U.S. levies
hefty duties on Chinese corrosion-resistant steel - Corrosion-resistant steel
from China will face final U.S. anti-dumping and anti-subsidy duties of up
to 450 percent under the U.S. Commerce Department's latest clampdown on a
glut of steel imports, the agency said on Wednesday. -
Once Bullish,
Miners Turn Bearish on Metals Prices - The rally in the price of metals is
over and few see it coming back soon, including the miners themselves. -
Government
prepares for controlled shut-down of Talvivaara - The Finnish Government
has determined that the best way to mitigate the risks related to Talvivaara
is to begin preparing for the controlled shut-down of the state-owned,
cash-strapped nickel mine in Sotkamo, Olli Rehn (Centre), the Minister of
Economic Affairs, revealed in a press conference on Wednesday. -
Palmer’s ultimatum on Yabulu’s future - Clive Palmer has tried
holding Townsville voters to ransom, warning the fate of the Yabulu refinery
could depend on his nephew’s performance at the federal election. -
Morning Nickel
Price Statistics & Figures
China's nickel
imports still flattering to deceive: Andy Home - China is importing
more nickel than ever before. Headline imports of refined metal hit a new
all-time record high of 49,012 tonnes in April. -
Production
of SUS Products in February 2016 Is 234,331 Tons = Down by 1% from prior
month, but production of Cr-Mn-type SUS products is at high level = The Ministry
of Economy, Trade and Industry announced the production volume of stainless
steel products (hot-rolled products) in February 2016 was 234,331 tons, which
was down by 1.1% from the prior month but up by 1.2% from the year-earlier
month. -
European
stainless steel alloy surcharges to rise in June - Monthly alloy surcharges
on austenitic grades of stainless steel flat-rolled products in Europe are
set to rise in June, mill announcements indicated. -
Writ
of Kalikasan filed vs mining firms, Zambales, DENR officials - CCOS chairman
Dr. Ben Molino and his co-petitioners say the continued mining operations
in Sta. Cruz, Zambales violate RA 7942, otherwise known as the Mining Act
of 1995, and its implementing rules and regulations -
Singapore’s exports down 9% on-year in Q1 2016 - The contraction was
driven by a decrease in both electronic and non-electronic exports, trade
agency IE Singapore says. -
Colombia
coal, nickel output drop in first quarter - Colombian output of nickel and
coal fell in the first quarter, while gold, silver and platinum production
rose, the government said Monday. -
South
Korea's Import & Export Trends of Main Ferroalloys in April 2016 = Import
is up by 17% from prior month, and export is down by 19% = South Korea's
foreign trade statistics shows the import volume of main ferroalloys in April
2016 was 102,183 tons, up by 17.2% from the prior month and the export volume
was 26,139 tons, down by 18.9% ditto. The import details of main ferroalloys
are as shown in Table 1 and the export details in Table 2 respectively. -
Big banks'
first-quarter commodities revenue drops 40 pct - report - Commodities-related
revenue at the 12 biggest investment banks tumbled 40 percent in the first
three months of the year as lenders cut exposure to the oil and industrial
metals sectors, a consultancy said on Tuesday. -
New
Caledonia nickel sector 'fragile' - New Caledonia's nickel industry has been
found to be in a fragile position as large stocks are likely to prolong a
recent sharp drop in the price of the metal. -
‘World
will never be the same’ warns Norilsk Nickel chief - The mining industry
needs to get used to a “new reality” as low prices and volatility
are likely to persist this year, Sergey Dyachenko chief operating officer
of Russian miner Norilsk Nickel says. -
South
African miners to bleed jobs in Zimbabwe - South African and other mining
groups in Zimbabwe will lay off employees to rationalise costs in the next
few months, despite platinum, gold and nickel registering growth during the
first quarter of the current year. -
Vietnam’s
April steel imports surge 44% on year to 1.59 mil mt - Vietnam raised steel
product imports by 44.3% year on year to 1.59 million mt in April, according
to data released Friday by Vietnam Customs. -
Taiwan's
Import of Major Ferroalloys in February 2016 Is 54,565 Tons = Down by 18%
from prior month due to Chinese New Year Holidays = According to the import
statistics of Taiwan, the import volume of major ferroalloys in February
2016 was 54,565 tons, down by 18.0% from 66,522 tons in the prior month.
-
US slaps
preliminary import duty on Indian steel pipes - The US Commerce Department
on Wednesday proposed preliminary duties on welded stainless pressure pipes
imported from India stating the goods were being dumped in the US market
at below market prices. -
Solomons
to reallocate nickel prospecting license - The Solomon Islands government
says it will soon seek expressions of interest for prospecting rights to
high grade nickel deposits in Isabel Province. -
Vale:
Crippling Debt But Modest Potential - Vale has had a difficult time recently
watching its stock price take a significant hit since 2011. -
