This
page is archived news covering the period of November 2012
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Friday, November 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
$7.71/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.07/lb
higher with most London
traded base metals trading higher as well. Nickel stockpiles held in LME
licensed warehouses rose slightly on Thursday and now total just over the
136,350 tonne level. Three month nickel was unable to close above resistance
yesterday of $7.77/lb, but is making another run today. European markets
are higher this morning and US futures are higher on, as Marketwatch puts
it, "as investors looked to consumer- spending data and the Chicago purchasing
managers index due later for at least a temporary respite from the
debt-negotiation roller-coaster." The Euro is higher, although off earlier
session highs. Next week begins the last month of the year, and the last
third of the fourth quarter. Enjoy your weekend!
International Ferro expects first-half loss on lower 2nd-qtr output -
more
S&P lowers stainless steel maker Aperam rtg to 'B+';outlook negative
-
more
Nickel's bounce
to be hit by heavy 2013 surplus - Nickel prices may see a short-term lift
over the next several months due to a seasonal rise in demand for stainless
steel, but next year's outlook is burdened by another market surplus. -
more
Hernic
enters new Eskom buy-back programme - Ferrochrome producer Hernic would
temporarily shut down two furnaces at its De Kroon operations on December
1, as it entered a new power buy-back programme with State-owned Eskom. -
more
China Cr Ore
Imports Sharply Drop - October 2012 = Down 28% from September to 685,048
tons = According to China's customs statistics, details of the imports of
chrome ore in October 2012 as well as during the ten months (January - October)
of 2012 were as per the table attached hereto. -
more
Japan steel
mills begin trial use of Vietnam high-carbon ferrochrome - At least two
steelmakers in Japan have begun to use high-carbon ferrochrome of Vietnamese
origin on a trial basis at their mills, following the first shipment to Japan
in March, Yoshitaka Murobushi of Advanced Material Japan said Monday. -
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, November 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
$7.70/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.15/lb
higher, punching thru
a line of resistant. Other base metals traded in London are higher as well
this morning. Stockpiles fell slightly on Wednesday and now totals just over
the 136,350 tonne level. Global markets are trading higher today on optimism
that fiscal cliff talks in Washington are making progress. The Euro is trading
higher as well, which is giving an additional boost to commodity trading.
We show nickel has broken thru a major line of resistance today at $7.77/lb
and if it holds today and tomorrow, we could see nickel trend into the $8/lb
range next month.
China Ferroalloy
Production By Division - October 2012 = Total production up 4.6% from September
owing to the increases in Hunan, Ningxia, Shanxi and Shandong = Production
of ferroalloys by division (province, region and municipality) in China in
the single month of October 2012 as well as during the first ten months (January
through October) of 2012 are as per the table attached hereto. -
more
Lawsuit
against mining firm brings Guatemalans to Toronto - Five Guatemalans are
in Toronto to sue a Canadian mining firm over allegations the security staff
of one of its subsidiaries brought violence and death to their village. -
more
Talvivaara
production under scrutiny after mine restart stalls - Nickel miner Talvivaara
yesterday postponed the restart of mining in Sotkamo, Eastern Finland by
half a year to mid-2013, raising concern over its future metals production.
-
more
Deep underground,
Dinosaurs Roam - (interesting article about Norilsk but difficult to read)
- link goes to an online edition -
here
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info, or become available to subscriber's only. We encourage our readers
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Wednesday, November 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 $7.69/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
, while the rest of
London traded base meals are slightly lower this morning. Stockpiles of nickel
stored in LME approved warehouses rose on Monday and now total just shy of
the 136,400 tonne level. European markets are lower on concerns US Congress
is making little progress on budget talks, US futures are also lower. Nickel
technicals still appear to point higher, and unless the talks in Washington
turn into a huge debacle and drag markets much lower, we see technical strength
regardless of fundamental pressure.
(FAN) According to ferroalloynet, Baosteel posts its December HC ferrochrome
purchase price, which is 7100 RMB/T, 50% basis, up 100 RMB/T over last month.
Talvivaara
postpones production re-start until summer - The mining company Talvivaara
will postpone the re-start of production at its mine until mid-2013, citing
the leak in the gypsum sediment pond and difficult water conditions as the
main reasons. -
more
Steel, Aluminum
Shipments Stop Free Fall in October - The slowdown in steel and aluminum
shipments through the late summer eased in October in both the United States
and Canada, according to the latest Metals Activity Report from the Metals
Service Center Institute, Rolling Meadows, Ill. -
more
Canadian
Royalties aims to start shipments from Nunavik Nickel in 2013 - A Chinese-owned
mine in Nunavik will soon see huge ice-class vessels sailing through Hudson
Strait to bring nickel, copper, platinum and palladium to European markets.
-
more
ThyssenKrupp
to lose billions in steel plant sales - German heavy engineering giant
ThyssenKrupp has been bracing for multi-billion-euro (dollar) losses over
the planned sale of its steel plants in the Americas. Construction defects
will cost the firm dearly. -
more
MEPS World
Steel Price Steady Ahead Of Anticipated New Year Revival - US domestic
transaction values are firming as major producers announce more price hikes
of $US50 per short ton as scrap charges escalate. -
more
China Ferroalloy
Production By Division - October 2012 - Total production up 4.6% from September
owing to the increases in Hunan, Ningxia, Shanxi and Shandong = Production
of ferroalloys by division (province, region and municipality) in China in
the single month of October 2012 as well as during the first ten months (January
through October) of 2012 are as per the table attached hereto. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, November 27
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
$7.46/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.13/lb
higher, with all London
traded base metals also trading higher. Stockpiles of nickel stored in LME
licensed warehouses fell slightly on Monday and now total just under the
134,450 tonnes level. European markets, as well as base metals, are higher
this morning as the Eurozone and IMF agree to a another Greek loan, which
should keep Greece from defaulting (for now) and in the Euro (for now). Nickel
continues to trend higher, and with resistance at $7.77/lb, we show it has
room to roam.
(Dow Jones) BNP Paribas Tuesday cut it outlook on base metal prices
for next year, but reiterated its view that demand for the metals should
grow in 2013 as the global economic outlook brightens. ..... It also lowered
its 2013 nickel outlook by 2.0% to $18,000/ton....
(MF) According to statistics released by the Chinese customs, China exported
118,103 tons of stainless hot rolled (HR) and cold rolled (HR) flat products
in October, falling by 12.6% from a month ago while rising by 18.1% year
on year.
(IF) Despite end-demand showing no signs of recovery, China’s steel
product inventories fell to a three-year low last Friday as banks tightened
lending to traders and cold weather in the north saw stockpiles sent to the
south.
(SSY) The price of Chinese wire rod at the end of last week edged lower by
$3/t from the previous week to $571/t, according to World Steel Dynamics.
This took the monthly average for November to $570/t, some $118/t lower than
the year-ago level.
Tata Port Talbot: 'This is devastating, everyone will be hit' -
more
China's 10 nonferrous metal output up 7.7% in Jan-Oct -
more
French minister threatens to expel Arcelor Mittal -
more
Size matters when reducing nickel oxide nanoparticles -
more
China October industrial profits jump 20.5 percent, signal rebound -
more
(CD) Chinese stocks continued to fall Tuesday, with the benchmark Shanghai
Composite Index dipping 1.3 percent, or 26.3 points, to end at 1,991.16,
the lowest level since February 2009.
Nickel
Market Seen Moving Into Balance in 2013 by Wood Mackenzie - The nickel market
may be in balance next year as demand strengthens amid potential delays in
adding supply, according to Andrew Mitchell, an analyst at researcher Wood
Mackenzie Ltd. -
more
European
stainless steel surcharges down for December - European stainless steel
surcharges for December are lower, producers announced at the end of last
week, as the price for nickel, the main driver for some of the alloy surcharges
continued to trade in a weaker range over much of November. -
more
Indonesia's
nickel ore exports recover from govt curbs - Indonesia's nickel ore exports
recovered in October, as biggest buyer China stocked up ahead of winter and
more miners resumed production after meeting tough government rules that
battered shipments this year from the world's top exporter of the metal.
- more
Japan Ferrochrome
Demand/Supply For 9 Months of 2012 = High-carbon consumption down reflecting
SUS production cut = Demand and supply of ferrochrome in Japan during the
first nine months (January - September) of 2012 were as per the table attached
hereto. -
more
Deripaska
and Potanin make peace at Norilsk (U/R) under government shadow: positive
- Vladimir Potanin and Oleg Deripaska held a joint press conference last
Tuesday, at which Potanin said that the long-standing shareholder conflict
at Norilsk Nickel between Interros (Potanin) and RusAl (Deripaska) is now
over. The parties have apparently agreed on all matters of importance regarding
management of the company, and say that they are committed to “restoring
value” to Norilsk Nickel. -
more
Courtesy AISI
- In the week ending November 24, 2012, domestic raw steel production was
1,764,000 net tons while the capability utilization rate was 71.4 percent.
Production was 1,809,000 tons in the week ending November 24, 2011, while
the capability utilization then was 73.0 percent. The current week production
represents a 2.5 percent decrease from the same period in the previous year.
Production for the week ending November 24, 2012 is down 1.6 percent from
the previous week ending November 17, 2012 when production was 1,792,000
tons and the rate of capability utilization was 72.5 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, November 26
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
$7.53/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME approved warehouses rose on Friday and now total just shy of
the 134,650 tonne level. European markets are down as EU nations struggle
with the terms of another Greek bailout. US futures are lower as well as
'fiscal cliff' negotiations resume in Washington.
(Dow Jones) The global nickel market had a surplus of 89,000 metric tons
in January to September, the World Bureau of Metal Statistics said Wednesday.
This compares with a 3,100 ton deficit over the whole of 2011.
(Dow Jones) Xstrata: Koniambo Nickel To Ramp Up To 60,000 Tons Nickel/Year
by 2014
(CBN) China's imports of laterite nickel to hit 61.9 mln tons in 2012
Italian prosecutors arrest 7 over ILVA steel plant scandal -
more
Nickel
Glut Recedes as Biggest Metals Loser Rallies: Commodities - Nickel, this
year’s worst-performing metal, is rallying as analysts from Standard
Bank Plc to BNP Paribas SA forecast a smaller-than-expected supply glut in
2013. -
more
China Molybdenum
Trade Volume Quickly Shrinking = Imports/exports of January - September 2012
have both shrunk 35 - 36% compared to the same period of 2011 = September)
of 2012 became import surplus after two calendar quarters of export surplus.
-
more
China's Oct moly ores, concentrate imports plunge 73.6% to 377 mt - China's
October imports of molybdenum ores and concentrates plunged 73.6% on year
to 377 mt, the latest figures from the General Administration of Customs
of China showed Friday. -
more
PNG Ramu Nickel,
Cobalt Mine Ships Product to China - Highlands Pacific states that the first
loading of 576 tons of nickel and cobalt mixed hydroxide intermediate product
has been completed in Basamuk smelting plant and shipped to China. The
intermediate product includes 217 tons of nickel and 19 tons of cobalt. -
more
Ramu Nico thanks landowners? - The Director and Executive Vice President
of Ramu NiCo Management (MCC) Ltd, Mr Gu Yuxiang expressed his Company’s
gratitude to the landowner associations (LOAs) in the four impacted project
areas in Madang province for the on-going support in the last five years.
-
more
Xstrata:
Koniambo Nickel Project First Production Line Completed - Xstrata PLC, the
Anglo-Swiss mining company that's in the process of merging with Swiss
commodities broker Glencore International PLC, said Friday Xstrata Nickel--the
industrial partner in the Koniambo Nickel Project--has completed construction
of the first production line of the smelter Line 1. -
more
Zim brushes
off pressure from chrome producers - Windhoek - Zimbabwe Government has refused
to cave in to pressure from mining companies to temporarily lift or relax
a ban on chrome ore exports, which companies say is worsening their plight.
-
more
Norilsk Nickel
Holders Make Progress in Four-Year Dispute - The two main shareholders in
Russian mining giant Norilsk Nickel are making progress in resolving their
four-year-long conflict over the control and management of the company which
could see its chief executive's departure and billionaire businessman Roman
Abramovich becoming a minority shareholder, people familiar with the matter
said Monday. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, November 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
$7.53/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals also trading lower. Stockpiles of nickel stored
in LME approved warehouses fell on Tuesday and now total just under the 133,600
tonne level. US markets are closed tomorrow for Thanksgiving and our next
update will be on the following Monday. Happy Thanksgiving!
(MF) According to the Specialty Steel Industry of North America (SSINA),
the US’s imports of stainless steel sheets and strips totaled 320,160
short tons in the first eight months of this year, increasing by 11.9% year
on year.
(Reuters) China refined nickel stocks seen up at 200,000 T by year-end -
Antaike
Drought No Obstacle to Record Income for U.S. Farms -
more
Nickel
misunderstood, consumer restocking rally likely: - The global nickel market
is basically misunderstood with consumer restocking likely to lift prices
in the first quarter of 2013, Citigroup said in its 2013 commodities outlook
Monday. -
more
Talvivaara
Mining to restart production at nickel mine - Finnish miner Talvivaara Mining
has received a permit to restart the metals recovery plant at its Sotkamo
nickel mine and expects full production to resume by November 25th. Production
had been temporarily suspended since November 4th following a gypsum pond
leak at the mine. -
more
Xstrata's
merger with Glencore claims chair Sir John Bond’s scalp - Mining's biggest
ever deal, the tie-up of Glencore and Xstrata, got the greenlight from investors
- but Sir John Bond, Xstrata's chairman, resigned after they vetoed bonuses.
-
more
Glasenberg Wins Xstrata as Bond Exits Over Blocked Bonuses -
more
EU regulators clear way for Glencore Xstrata tie-up -
more
Japan Ferroalloy
Market Report - November 15, 2012 = Market is waiting for China's decision-making
about export duty on ferroalloys = Market situation of ferroalloys in Japan
as of November 15 is as follows. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, November 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
$7.47/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals mostly lower as well. Stockpiles of nickel stored
in LME warehouses rose sharply on Monday and now total just over the 133,900
tonne level. Markets are mostly off yesterday's bullish run, as a Moody's
downgrade of France and an inability on the part of EU leaders to agree to
a new loan for Greece, remind traders that yesterday's optimistic belief
that Washington leaders can agree to way to avoiding the 'fiscal cliff',
there is a lot yet that can go wrong in many places. Nickel had a big day
yesterday, and resistance of $7.62/lb could be tested in the next few weeks.
(FAN) U.S. stainless steel imports jumped 30.8 percent in August compared
with the same month last year, while total consumption rose just 7 percent,
according to the Specialty Steel Industry of North America
China faces challenges in maintaining growth -
more
Pacific Ocean likely to remain ENSO neutral -
more
Nickel
misunderstood, consumer restocking rally likely: Citigroup - The global nickel
market is basically misunderstood with consumer restocking likely to lift
prices in the first quarter of 2013, Citigroup said in its 2013 commodities
outlook Monday. -
more
Norilsk
stops Tati nickel operations after fault at some point smelter - The
earth’s biggest nickel the manufacturer, Russia’s Norilsk Pennie,
will halt it is Tati mine and many concentrator in Botswana to use as 12
days, after a furnace breakdown at once smelter that processes the majority
of the concentrate from the area mine. -
more
China Crude
SUS Production 11.407 Million Tons - 9 Months 2012 = Up 9.4% from the same
period of 2011 = According to Stainless Steel Council of China Special Steel
Enterprises Association, crude stainless steel production during the first
nine months (January - September) of 2012 was 11.4070 million tons, up 9.4%
from the same period of 2011 .....
more
Xstrata
Investors Seen Backing Glencore Takeover - Trading in Xstrata Plc shows that
investors, who vote today on 2012’s biggest takeover, have almost never
been more confident that Glencore International Plc’s 19.5 billion-pound
($31 billion) bid will win approval. -
more
Glencore eyes finish line in marathon Xstrata deal - Shareholders in commodities
trader Glencore have overwhelmingly approved its long-awaited $31 billion
takeover of miner Xstrata , paving the way for one of the largest tie-ups
in the sector to date. -
more
Takamul mulls
ferrochrome smelter project in Oman - Takamul Investment Company, the downstream
investment subsidiary of Oman Oil Company, is actively weighing the feasibility
of establishing a ferrochrome smelter project in the Sultanate. -
more
Philippines' Nickel Asia says Taganito project cost to rise 22 pct
- The cost of building the Philippines' second nickel processing plant, due
to be completed next year, will rise 22 percent to $1.59 billion, swelled
by higher material prices and changes in specifications, the country's biggest
nickel miner said on Tuesday. -
more
Courtesy AISI
- In the week ending November 17, 2012, domestic raw steel production was
1,792,000 net tons while the capability utilization rate was 72.5 percent.
Production was 1,809,000 tons in the week ending November 17, 2011, while
the capability utilization then was 73.0 percent. The current week production
represents a 0.9 percent decrease from the same period in the previous year.
Production for the week ending November 17, 2012 is up 2.6 percent from the
previous week ending November 10, 2012 when production was 1,746,000 tons
and the rate of capability utilization was 70.7 percent.
Proven
Strength in Stainless - The overhead netting of Perth Zoo's Australian Wetlands
and Penguin Plunge Exhibit was badly damaged when severe hailstorm and winds
of up to 128km/h swept through Perth in March 2010. -
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
Monday, November 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
$7.24/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.08/lb
higher, with other
London traded base metals mostly higher and quiet. Stockpiles of nickel stored
in LME approved warehouses fell on Friday and now total just under the 132,650
tonne level. European markets are trading higher this morning, with US futures
shadowing, as reports come out of Washington that debt talks amongst US Congress
members is going well. US markets are beginning a shortened week, closed
on Thursday for Thanksgiving, and trading only 1/2 day on Friday.
(SN) The American Iron and Steel Institute (AISI) reported today that for
the month of September 2012, U.S. steel mills shipped 7,233,375 tons, a 13.7%
decrease from the 8,377,162 tons shipped in the previous month.
Hedge Funds Cut Bets in Longest Retreat Since 2008: Commodities -
more
Palmer
slams “bullsh*t” rumours - Mining magnate Clive Palmer says rumours
claiming he might have to close his Yabulu refinery over the Queensland wet
season are “bullsh*t”. -
more
Japan Hot-Rolled
SUS Production Continues Down - September 2012 = 236,996 tons down 0.9% from
July; Cr-alloyed group up, and Ni-alloyed group down = According to the data
released by Ministry of Economy, Trade and Industry on November 13, details
of output of hot-rolled stainless steel during September 2012 were as per
the table attached hereto. -
more
Stainless
Steel and Nickel - 100 Years of Working Together - Stainless steel is everywhere
in our world and contributes to all aspects of our lives. We find stainless
steel in our homes, in our buildings and offices, in the vehicles we travel
in and in every imaginable industrial sector. Yet the first patents for stainless
steel were issued only 100 years ago. -
more
How A Nickel
Mining Venture Brought An Invasive Flower to Oregon - A new invasive
species has taken root in Oregon. Yellow tuft alyssum threatens dozens of
rare native wildflowers. -
more
Hammered ore
prices threaten Chinese iron miners - "To be or not to be" -- that is the
pressing question for Chinese iron ore producers teetering on thin profit
margins that have been squeezed by lower-priced imported ores and sluggish
steel demand at home. -
more
Nickel
Metal Mining Like its 1864 - Nickel is present in over 3000 different
alloys that are used in over 300,000 products for consumer, industrial, military,
transport/aerospace, marine and architectural applications. -
more
Norilsk Nickel's
ice-breaking ships reach the Russian ports others can't - Norilsk Nickel’s
fleet carries copper and nickel but it’s also a vital link to the outside
world for an isolated Siberian mining community. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, November 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
$7.21/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell on Thursday and now total just shy of the
132,900 tonne level. Markets continue to remain sour with the so-called fiscal
cliff overshadowing the European debt crisis. Nickel is on track to end the
week flat, which in light of equity markets falling for much of the week,
makes it look like it is hiding some strength. We see initial support at
$7.18/lb, with resistance at $7.76/lb. The average price of cash nickel thru
yesterday is running around $7.25/lb, down from October's average of $7.82/lb.
US markets will be shortened next week by the Thanksgiving holiday on Thursday,
while metals will trade all week in London.
(SSY) German crude steel production in October rose for a second consecutive
month, up 4% on September and fractionally above the year-ago level to 3.7
Mt, according to the country's steel association. October's figure marked
the highest monthly level since June and the first year-on-year increase
since September 2011. However, total output in January to October of 36.1
Mt was still 4% lower than the corresponding period in 2011.
Outlook
Of Chromium Metal Market By Delachaux/France = Solid demand with a possibility
of short supply = Mr. Yoran Guenegou, Sales and Marketing Engineer of Delachaux
in France, visiting Japan had an interview with our pressman (Mr. Saito)
on the 6th of November in Tokyo. -
more
LME sale
on track, keeps metal storage under scrutiny - The London Metal Exchange
(LME) expects proposed changes to its warehousing rules to go some way to
solve problems in the network of warehouses it monitors, but would continue
reviewing the situation, chief executive Martin Abbott said on Friday. -
more
Dominican Republic: Protests of Nickel & Gold Plans - On Nov. 11
Congressman Adriano Sánchez Roa, of the Dominican Republic’s
ruling PLD Party, rejected the award of a license to Canadian mining firm
Unigold, claiming it would threaten environmentally protected areas, particularly
the Manolo Tavárez Justo National Park. -
more
Glencore
$31 Billion Deal for Xstrata Looking Completed: Energy - Glencore International
Plc’s $31 billion bid for control of Xstrata Plc (XTA) has never looked
so certain after the sovereign wealth fund of Qatar threw its support behind
the biggest takeover of the year. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, November 15
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
$7.33/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell on Wednesday and now totals just over the
133,450 tonne level. The Euro-zone GDP fell at at 0.1% quarterly rate in
the third quarter, according to Eurostat today. Germany and France economies
grew during the same period. China was introduced to their new President,
Mr. Xi Jinping. Wal-Mart reported sales just shy of expectations. Weekly
jobless claims and reports on the consumer price index and the Empire State
Mfg will be released in the US today. The US Dow is trading at a four month
low and traders are looking for a bottom. European equity markets are mostly
lower, while the Euro is currently trading higher.
(LGMI) The China Iron and Steel Association said that almost half of China's
large and mid sized steel mills reported losses during the first nine months
of 2012. Combined losses amounted to CNY 26.73 billion, marking a 41.5 fold
increase in losses year on year. Last year's losses were CNY 644 million.
(SSY) The world hot rolled band export price was up marginally by $8/t from
end-October to $542/t, according to the latest SteelBenchmarker from World
Steel Dynamics. However, the current price is only $10/t above the year-to-date
low seen a month ago and remains $114/t below the year-to-date high in mid-March.
(CBN) China - Steel prices look set to decline as demand in China tapers
off during the winter low season, spelling an end to two months of increases
that brought a brief respite for the beleaguered industry.
US Fastener Exports & Imports Drop in September -
more
Best Metals
Forecaster Smirk Sees China Recovering: Commodities - Industrial metals will
rally through the middle of next year as the economy strengthens in China,
the biggest user of everything from aluminum to zinc, according to the most
accurate price forecaster tracked by Bloomberg. -
more
Western
World Molybdenum Production Review (January - September 2012) = Under control
at major mines responding to low prices = Production of molybdenum concentrates
during the Q3 (July -September) of 2012 by major miners was 66.92 million
pounds reflecting the downward trend since the beginning of 2012, following
69.28 million pounds during the Q1 (January – March) of 2012 and 67.58
million pounds during the Q2 (April – June) of 2012. -
more
Talvivaara
Brings Back Pera as CEO Amid Output Decline, Leak - Talvivaara Mining Co.,
the Finnish nickel miner struggling to meet production targets and stem
environmental contamination, brought back its founder as chief executive
officer until operations are “stabilized.” -
more
Effective with
shipments January 1, 2013 NAS is increasing prices on all Cold Roll Flat
Products in 200, 300, and 430 grades. -
more
Source - Standard Bank Commodities Daily 11/13/12
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, November 14
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
$7.28/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
higher, with most London
traded base metals trading quietly higher as well. Stockpiles of nickel stored
in LME licensed warehouses rose on Tuesday and now total just over 133,600
tonnes. Base metals are trending higher with the assistance of a higher trading
Euro as Greece default concerns ease while the area is rocked by huge
anti-austerity strikes today in Spain, Portugal , Greece and Italy. Equity
markets are trading lower in Europe, while US futures are slightly higher.
Venezuela has taken control of Anglo's Loma de Niquel Mine, after its permit
expired. Venezuela, under Hugo Chavez, has seized many foreign operated
operations in that nation over the years, and we expect with their track
record, future production from this mine will eventually fall.
(SSY) According to China's National Bureaus of Statistics, October saw a
gain in the country's crude steel production, up by 2% from the 7-month low
in September to 59.1 Mt. This also marked an increase of 8% year-on-year.
Talvivaara Investors Face Dilution in Bond Payment Bid -
more
First Nickel Reports Third Quarter 2012 Financial and Operating Results -
more
Liberty Mines Reports Financial Results for Third Quarter 2012 -
more
China steel prices still face headwinds -industry body -
more
Why Copper Is a Critical Metal: Mickey Fulp -
more
Japan's SUS
Mills Cut Ni-Alloyed Scrap November Prices = Down more than Yen5,000/ton
from October reflecting LME nickel price drop = SUS mills' purchasing price
for nickel-alloyed stainless steel scraps (new clippings) for November deliveries
is to drop more than Yen5,000/ton from the price for October to Yen120,000
- 125,000/ton delivered. -
more
Talvivaara
says mine stopped leaking waste water - Talvivaara said its nickel mine in
eastern Finland had stopped leaking waste water, sending its shares sharply
higher on hopes it has gained control over an environmental fiasco. -
more
Baosteel raises
December ex-factory prices on growing demand - Baoshan Iron and Steel Co
Ltd (Baosteel), China's largest listed steelmaker, has raised ex-factory
prices of its main products for December delivery, the first price rise since
March. -
more
Deripaska
tightens grip on RUSAL as Onexim CEO leaves - Russian tycoon Oleg Deripaska
appears to have tightened his grip on aluminium giant RUSAL after seeing
off the chief executive of rival shareholder Onexim, who has left the board.
-
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, November 13
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
$7.23/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with most
London traded base metals trading lower as well. Stockpiles of nickel rose
sharply on Monday and now total just over 133,100 tonnes. Markets are lower
this morning as Greece debt concerns continue - and the US so called 'fiscal
cliff 'approaches. Nickel is down as the Euro lags and stockpiles grow. China
reports steel production in that country returned to August levels last month,
but steel stockpiles in that country appear to be growing as well. We have
added numerous reports to the site today, and you are welcome to check them
out. Typically we have to review them monthly as many reports either go
subscription, or are discontinued.
(CF) Taiwan’s fastener exports declined 3.2% year on year to 1,045.1
million kilogram for the first ninth months. The export value also saw a
decrease of 3.67% to 2.9 billion US dollars year on year.
China's Steel Market Prices Rebounded And Recovered To August Level -
more
Iron-Ore Rebound Boosts STX With Record Chinese Imports: Freight -
more
FIB Small Business Economic Trends, November 2012 -
more
Madagascar
ships its first refined nickel - Madagascar shipped its first refined nickel
last week, a statement from the company explorer of cobalt and nickel in
the country said on Monday. -
more
Turkish Chrome
Ore Exports Decline Continue - October 2012 = 103,541 tons, down 7%; exports
to China recovered = Turkey's exports of chrome ore during October 2012 as
well as the ten-month period (January - October) of 2012 are as per the attached
table hereto. -
more
UMMC will
locate a nickel plant in the Sverdlovsk region - Ural Mining and Metallurgical
Company is weighing the idea of building a nickel plant in the Middle Urals.
A company that would be able to produce 50 thousand tons of nickel a year
could be located in Kirovgrad, near a branch of Uralelectromed, OJSC (a
subsidiary of UMMC) that produces base metals. -
more
Talvivaara
says taxpayers won’t pay for clean-up - Crisis-hit Talvivaara Mining
Company says taxpayers will not have to shoulder the clean-up cost at its
nickel mine in eastern Finland. -
more
Courtesy AISI
- In the week ending November 10, 2012, domestic raw steel production was
1,746,000 net tons while the capability utilization rate was 70.7 percent.
Production was 1,809,000 tons in the week ending November 10, 2011, while
the capability utilization then was 73.0 percent. The current week production
represents a 3.5 percent decrease from the same period in the previous year.
Production for the week ending November 10, 2012 is up 1.7 percent from the
previous week ending November 3, 2012 when production was 1,707,000 tons
and the rate of capability utilization was 69.1 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, November 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
$7.23/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with aa London
traded base metals trading higher this morning. Stockpiles of nickel stored
in LME approved warehouses fell on Friday and now total just under 129,800
tonnes. Greece passed an annual budget with deep austerity cuts over the
weekend, which was a condition of getting more aid. Creditors are now meeting
on how best to give that aid. China hands over power to a new leader tomorrow.
And US government offices are closed today for Veteran's Day. Metal trading
is quiet and following the Euro.
(FAN) European ferrochrome prices have fallen to their lowest levels in nearly
three years amid low demand, high inventories and growth in Chinese production.
(PR) Universal Stainless & Alloy Products, Inc. announced today that
its Dunkirk Specialty Steel, LLC subsidiary has reached a new five-year
collective bargaining agreement with the Dunkirk hourly employees represented
by Local 2693 of the United Steel, Paper and Forestry, Rubber, Manufacturing,
Energy, Allied Industrial and Service Workers International Union, AFL-CIO.
U.S. nickel imports fell 10.9% in September from August, and was down 10.1%
YOY, according to a Thursday report by the Commerce Department.
U.S. nickel exports fell 28.4% in September from August, and was down 24.2%
YOY, according to a Thursday report by the Commerce Department.
Russian Federal Customs reports exports of nickel from Jan thru Sept of 2012
are up 46.1% YOY.
Bulls Cut Wagers as Prices Rally Most in Two Months: Commodities -
more
EU approves deal to create largest steel maker -
more
Press Release
- AK Steel said today that it will increase base prices for all 200, 300
and 400 series flat rolled stainless steel products, effective with shipments
on December 30, 2012. AK Steel said this increase will be achieved through
a reduction in the functional discount of four percentage points for cold
rolled and hot rolled products. Base prices of automotive exhaust grades
will increase by $0.04 per pound. All raw material surcharges for stainless
steel products, including those for materials under .015 inch thickness,
will remain in effect. Surcharges for the broad range of stainless steel
products that AK Steel produces can be found under the Products and Markets
section of the company's web site at www.aksteel.com.
Talvivaara
nickel mine not ready to restart after leak - Finnish miner Talvivaara is
not in a position to restart production at its nickel mine in eastern Finland,
which has been leaking waste water for more than a week, local government
authorities said on Monday. -
more
Venezuela
to Take Over Anglo American Nickel Concession - Venezuela will take control
of a nickel concession operated by Anglo American Plc (AAL) when it expires
tomorrow, said an official from the Oil and Mines Ministry. -
more
Court Voids
Norilsk Nickel Buyback - A regional court in Siberia has ruled in favor of
aluminum giant RusAl, which was seeking to void the buyback of a 7.7 percent
stake in Norilsk Nickel that took place last year. -
more
Poseidon
gets conditional nod for Mt Windarra - Poseidon Nickel has received conditional
State Government approval to recommence mining at the historic Mt Windarra
nickel mine near Laverton. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, November 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
$7.33/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals all trading lower. Stockpiles of nickel stored
in LME approved warehouses fell on Thursday and now total just under 130,250
tonnes. Worldwide markets are lower as attention intensifies on the so called
upcoming US fiscal cliff. Markets are either nervous that Congress will continue
on its path of inability to accomplish anything besides defining party lines,
or are sending Congress a message that market investors can just as easily
turn on the US as they did on Europe. Nickel is caught up in today's negativity
and continues to trade up and down at the whim of financial forces, wth little
supply/demand market news to give it any momentum of its own.
U.S. weather forecaster drops El Niño watch -
more
Talvivaara
waste water leak plugged? - On Thursday morning, the CEO of the Talvivaara
mining company said a leak at its gypsum pond had been blocked. However by
late morning Helsingin Sanomat reported that there was renewed leakage. -
more
Indonesia
to Maintain Metal Export Policy Amid Court Ruling - Indonesia, the world’s
largest nickel producer, will maintain a policy that tightens exports of
mineral ores amid a ruling by the Supreme Court that annulled some articles
on the ministerial decree. -
more
Indonesia
may relax smelter deadline for miners -industry - Indonesia may allow copper,
zinc and lead miners more time to comply with a 2014 deadline to process
ores in the country, the top industry body said on Friday, as the government
faces legal challenges to its new mining regulations. -
more
Japan Nickel
Metal Consumption January - August 2012 = 28,561 tons, down 6.8% from the
same period of 2011 = According to the data recently released by Ministry
of Economy, Trade and Industry, consumption of nickel metal in the single
month of August and during the eight months (January - August) of 2012 were
as per the table attached hereto. -
more
Economic
& Steel Market Outlook 2012-2013 - Uncertainty grips EU as risks mount
and policy action is delayed -
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, November 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
$7.26/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel rose on Wednesday
and now total just over 130, 750 tonnes. The Euro is trading at a two month
low but metals seem to be reacting to Greece's affirmative austerity vote,
and an expected rebound from Wall Street's biggest one day drop of the year.
Economic reports continue to affirm that most of the world economy is in
a slow, gradual recovery, with Europe still suffering and the potential so
called US fiscal cliff fears the biggest threat to the markets.
(CD) The daily output of China's major steel companies in late October dropped
5.39 percent, or 86,600 metric tons, compared with the previous 10 days to
1.51 million tons, said a report issued on Wednesday by the China Iron and
Steel Association.
(FIN) Nippon Steel & Sumikin Stainless, the largest stainless steel producer
in Japan announced to leave its domestic prices for stainless cold rolled
coils (CRC) and plates unchanged for November.
Japan's Steel Export In Sept. Showed 3,566,000 Tons, Down 3.1% From Aug.
-
more
Indonesia's
metal export policy in limbo - Indonesia is not sure if its own rules on
mining exports still apply, after a court ruling upheld an industry challenge
to its policy, the country's trade minister said on Wednesday. -
more
Indonesia’s Metal Export Policy in Limbo - Indonesia is not sure if
its own rules on mining exports still apply, after a court ruling upheld
an industry challenge to its policy, the country’s trade minister said
on Wednesday. -
more
PNG’s
Ramu NiCo mine: An environmental time bomb? - Papua New Guinea is home to
some of the biggest gold, silver and nickel reserves in the world, and for
decades has been the centre of attention for international mining giants.
-
more
Finland's
Talvivaara keeps Q3 loss lower than expected - Finnish miner Talvivaara reported
a smaller than expected third-quarter operating loss despite disruptions
at its mine in eastern Finland. -
more
Norilsk
May Cancel 10% of Stock in March With Month Delay - OAO GMK Norilsk Nickel,
the world’s largest producer of the metal, will proceed with a plan
to cancel as much as 10 percent of its stock and may complete the move in
March, said Marianna Zakharova, a board member. -
more
Billionaire
Vekselberg Sees Resumed Norilsk Talks as Positive - United Co. Rusal shareholder
Oleg Deripaska resumption of talks with Vladimir Potanin on managing OAO
GMK Norilsk Nickel is positive for Russia’s biggest mining company,
according to billionaire investor Viktor Vekselberg. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, November 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
$7.29/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with all London
traded base metals trading slightly higher this morning. Stockpiles of nickel
stored in LME approved warehouses fell on Tuesday and now total 130,500 tonnes.
The US elections are over and markets are higher, with some of the uncertainty
that markets fear so much, now gone. Attention now shifts to China where
a once in a decade political change takes place tomorrow. Greece has an important
austerity vote at midnight tonight. Nickel has lost some of the momentum
it had yesterday, and is looking for a direction. The Euro is starting to
fall, which could take base metals prices with it.
Protectionist barriers have no place - In the current “fragile”
economic environment, most processors of non-ferrous metals are complaining
of “a lack of material to process” while many consumers “are
feeling pain at the prices they need to pay for our scrap to feed their
furnaces”, -
more
China base
metal buys will hardly dent ample supply -trade - China's plan to buy base
metals for state reserves in an effort to cushion domestic smelters from
slowing economic growth would support prices but would not significantly
reduce bulging stockpiles, traders and analysts said on Wednesday. -
more
MEPS Forecasts
EU Stainless Steel Prices To Rise In Early 2013 - MEPS – EU Average
Stainless Steel transaction values, for all austenitic grades, increased
in October. Some EU mills were able to implement advances in basis numbers.
-
more
Outokumpu
wins EU okay for Inoxum buy, with condition - Finnish steel producer Outokumpu
Oyj won EU regulatory approval on Wednesday to acquire German peer ThyssenKrupp
AG's stainless steel business in a 2.7 billion euro ($3.46 billion) deal
after agreeing to sell an Italian facility. -
more
LME Nickel
October Averages Almost Unchanged From September = Basically in a downward
trend within the month as if correcting the upward move in September = LME
nickel prices averaged over October 2012 were, Spot: US$17,245.43/ton
(US$7.822/lb), up 0.2% from September, 3 months: US$17,305.00/ton (US$7.849/lb)
up 0.1% from September. The prices were in mostly a downtrend throughout
the month, contrary to the upward move during September. -
more
Mwana
Africa restarts work at Zimbabwe mine - Mwana Africa has moved to restart
production at Zimbabwe’s formerly lucrative Trojan Nickel Mine following
the raising of $23m through a rights issue and share placement scheme. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, November 6
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
$7.21/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.07/lb
higher, with all London
traded base metals trading higher at the moment. Stockpiles of nickel stored
in LME approved warehouses rose on Monday and now total just shy of 130,550
tonnes. Greece is on a nationwide strike ito protest an upcoming austerity
vote. US voters go to the polls today to decide who will govern for the next
two to four years. And China prepares for its first leadership change in
ten years. European equity markets are higher, with base metal markets in
tow. Nickel is getting strong support at $7.20lb.
(MF) According to the data from Stainless Steel Council of China Special
Steel Enterprises Association, China produced 11.41 million tons of crude
stainless steel from January to September this year, rising about 9.4% or
981,100 tons from the same period last year.
Talvivaara Mining Company Plc Press Release - Leakage detected at the gypsum
pond - metals production temporarily suspended - A leakage in the gypsum
pond of the mine site of Talvivaara Mining Company Plc was detected at 7.30
am (Finnish time) on Sunday 4 November 2012. The levees of the pond are intact,
but water is filtering through the lower part of the levee on the east side
of the pond.
Chinese steel industry scenario to worsen in Q4 2012 - MIIT -
more
BIR Stainless Steel & Special Alloys Committee: Stainless production
to fall short of projections? - It is “very doubtful”, he told
the Round-Table gathering in Barcelona, that production will rise the projected
4% to 33.3m tonnes; indeed, he added, there is a strong possibility the total
will fail to match that of last year owing to third and fourth quarters which
have been “much weaker than anticipated”. -
more
Stainless production to fall short of projections? - Heading up his final
meeting as Chairman of the BIR Stainless Steel & Special Alloys Committee,
Michael Wright of ELG Haniel GmbH was not at all confident that global stainless
steel production in 2012 would achieve the mark predicted earlier this year.
-
more
China to resume
stockpiling base metals soon -sources - China is expected to soon resume
stockpiling of some base metals, including copper and aluminium, buying them
from domestic smelters hurt by weak demand, industry sources said on Tuesday.
-
more
Indonesia
to review unprocessed ore export rules-minister - Indonesia will review its
rules on the export of unprocessed metal ores after a Supreme Court ruling
that upheld a challenge to a government ban on such shipments, Energy and
Mineral Resources Minister Jero Wacik said on Tuesday. -
more
Japan Ferroalloy
Market Report - October 31, 2012 = It is worth noting that RMB is under pressure
for further appreciation against US$ = Market situation of ferroalloys in
Japan as of October 31 is as follows. -
more
China's mining,
metals industries pursue M&A possibilities overseas - China's mining
and metals companies are taking advantage of global caution to seize merger
and acquisition opportunities in the sector in overseas markets, experts
at Ernst & Young Global Ltd said on Monday. -
more
Eramet
Group: Société Le Nickel-SLN, an ERAMET group subsidiary, signs
declaration of intent with Southern Province and Vale New Caledonia on Prony
and Creek Pernod deposits - Société Le Nickel-SLN, an ERAMET
group subsidiary, signs declaration of intent with Southern Province and
Vale New Caledonia on Prony and Creek Pernod deposits. -
more
Norilsk Nickel's
ice-breaking ships reach the Russian ports others can't - Norilsk Nickel’s
fleet carries copper and nickel but it’s also a vital link to the outside
world for an isolated Siberian mining community. -
more
Courtesy AISI
- In the week ending November 3, 2012, domestic raw steel production was
1,707,000 net tons while the capability utilization rate was 69.1 percent.
Production was 1,793,000 tons in the week ending November 3, 2011, while
the capability utilization then was 72.4 percent. The current week production
represents a 4.8 percent decrease from the same period in the previous year.
Production for the week ending November 3, 2012 is up 1.7 percent from the
previous week ending October 27, 2012 when production was 1,679,000 tons
and the rate of capability utilization was 67.9 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, November 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
$7.24/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with all London
traded base metals trading lower as well. Stockpiles of nickel stored in
LME approved warehouses fell on Friday and now total just over 130,100 tonnes.
Nickel turned softer on Friday as attention shifted to the political arena,
in both the US and China. The US outcome is uncertain while the once in a
decade leadership change in China is expected. How these two events will
change things going forward has put risk aversion back into the market and
metals are lower today on a lower Euro. Nickel should get strong support
at $7.20/lb.
(NAS) North American Stainless will maintain the fuel surcharge at 35% for
stainless flat and long products shipping in the month of November 2012.
The surcharge rate is considered a maximum level for November and will be
reviewed monthly.
(MBN) Stainless steel mills in China cut their bids for November nickel pig
iron (NPI), after nickel prices fell on the London Metal Exchange
Nickel
supply continues to spring surprises: Andy Home - Nickel has been the
underperformer of the industrial metals traded on the London Metal Exchange
(LME) for much of this year. -
more
MEPS Expects
Global Stainless Steel Output To Reach New Peak In 2012 - Total world crude
stainless steel production for 2012 looks set to reach an all-time record
figure of 34 million tonnes. This would be a 0.8 percent increase on the
previous high, set in 2011. -
more
Indonesia
court scraps mineral export regulations - Indonesia’s supreme court
has scrapped a government ban on the export of unprocessed minerals, the
country’s chamber of commerce said today, and urged the government to
draft new mineral export rules. -
more
Islanders
miss nickel’s ‘golden era’ - The island is red and almost
barren, the sea encircling it not as generous as it was once due to overfishing
and pervasive use of illegal fishing methods. -
more
Jan-Sept non-ferrous
metals output up 7.1% - China produced 26.97 million tons of 10 major non-ferrous
metal products in the first nine months of this year, up 7.1 percent
year-on-year, according to data from the National Development and Reform
Commission. -
more
Japan Q4-2012 Special
Steel Production Plan = 4,857,500 tons, down 2% from Q3, mostly due to lower
demand from automobile sectors = The Ministry of Economy, Trade and Industry
(METI) of Japan released on October 30, a compiled production plan of hot-rolled
special steel during the Q4 (October - December) of 2012, of which details
are as per the attached table hereto.-
more
Metal recyclers
cautiously optimistic - While U.S. manufacturing has been declining over
the past couple of years, there has been recent recovery in the automotive
sector and some signs of life in construction. -
more
Mysterious
patterns found in Chinese desert 'are result of geological surveys for nickel
mines' - Bizarre patterns in the deserts of central China are likely to be
the result of geological surveys for nickel mines, according to the researcher
who discovered the curiosity. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Friday, November 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
$7.39/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
approved warehouses fell on Wednesday and now total just under the 130,200
tonne level. Markets appear to be in flux this morning as traders await the
US payroll report for October. Most of US reports yesterday revealed the
US economy is keeping its head above water, but continues to mostly tread
water. Today's report will be the last major economic report to be released
before the US election next Tuesday. Metals news has been very light this
week, with Hurricane Sandy grabbing much of global attention. The price of
LME cash nickel averaged $7.822/lb in October. This compared to $7.81/lb
in September, $7.10/lb in August, and $8.57/lb in October 2011. Have a nice
weekend!
Copper Set for Fourth Weekly Decline on China Inventory Concerns -
more
(Credit Suisse) - Nickel prices have suffered this year as the market shifted
sharply into surplus on the back of very weak demand (the weakest of the
five main LME metals), combined with increased supply from major ramp-ups
and growing Chinese NPI capacity. However, we believe the market has moved
back closer to balance, creating a more favorable price environment over
the next three months. While the market’s attention has been focused
on the demand-side in recent months, important supply-side developments have
been largely overlooked. (see CS "Nickel – Supply Difficulties Create
Opportunity for Higher Prices" for complete report)
Xstrata
fires 400 strikers at South Africa chrome mine - Global diversified mining
firm Xstrata has dismissed 400 workers involved in an illegal strike at its
Kroondal chrome mine in South Africa, the company said on Friday. -
more
Asian
Prices Of Austenitic CR Stainless Sheets To Downward Revision By Over $100
- Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian
area are forced to be revised to the downward trend by $100 to 150 to the
level of $2,700 CFR. -
more
The
Hedging abuse in commodity markets - The commodity markets were intended
to help agricultural producers manage risk and find buyers for their products.
-
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, November 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
$7.35/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.08/lb
higher, with other
London traded base metals also trading higher as well. Stockpiles of nickel
rose on Wednesday and now total just shy of 130,300 tonnes. This is the first
time inventories have exceeded 130,000 tonnes since March 2011. Dow futures
are unchanged this morning as traders prepare to receive numerous economic
reports today, some delayed from earlier release by Hurricane Sandy. China's
PMI went positive in October, rising to 50.2 from 49.8, and this helped Asian
markets close higher, and giving European markets a boost as well.
Commodities Post Biggest Loss in 5 Months to Trail Stocks -
more
(Interfax) Stainless steel prices are on the way to a sustained recovery
on the back of rising raw material prices, falling stockpiles and increased
demand from the manufacturing sector, with further support expected from
stimulus measures announced during the upcoming 18th National Congress, analysts
told Interfax.
(SO) According to statistics released by Japan's Ministry of Finance, Japan's
nickel ore imports totaled 428,506 metric tons in September this year, rising
by four percent month on month and up 30 percent compared to September 2011.
Toledo Mining says Berong Nickel's shipments over 678,000 tonnes -
more
(SSY) Japanese industrial production contracted for a fourth consecutive
month to the lowest level since April 2011 in September, down 8.1% on an
annual basis, official data shows.
(MW) China’s Shanghai Composite index CN:000001 +1.72% soared 1.7% after
an official gauge of manufacturing Purchasing Managers’ Index rose to
50.2 in October from 49.8 in September.
Indonesia's
first nickel pig iron smelter starts output - Indonesia's first nickel pig
iron smelter has begun initial production of about 1,000 tonnes of ingots
a day, kicking off a wave of new metal processing plants planned in the next
few years. -
more
Sherritt
posts loss on lower nickel sales, price - Canadian miner Sherritt International
Corp posted a third-quarter loss on Wednesday as lower nickel prices and
sales volumes, and lower exports of thermal coal weighed on revenue. -
more
Glencore
Offers Concessions in EU Review of Xstrata Deal - Glencore International
Plc (GLEN) offered unspecified concessions to European Union antitrust regulators
examining its $33 billion takeover bid for Xstrata Plc, which would create
the world’s fourth-biggest mining company. -
more
Eramet Group
Production/Turnover - Q3 2012 = Manganese Group/Nickel Group downtrend in
turnover continued = Eramet Group of France released production/turnover
results of the Q3 (July - September) of 2012 on October 25. -
more
Norilsk Nickel
Shareholders Seek to Resolve Dispute - The co-owners of Norilsk Nickel have
resumed talks to settle the long-standing dispute over control of the nickel
and palladium giant, in a move that could result in replacing the company's
management. -
more
Russian Billionaires Discuss Norilsk Chairman Job - Vladimir Potanin, a
billionaire investor in OAO GMK Norilsk Nickel, has been proposed to become
chairman of the world’s biggest producer of the metal as a step toward
resolving a four-year shareholder conflict, according to two people with
knowledge of the matter. -
more
Courtesy AISI
- In the week ending October 27, 2012, domestic raw steel production was
1,679,000 net tons while the capability utilization rate was 67.9 percent.
Production was 1,781,000 tons in the week ending October 27, 2011, while
the capability utilization then was 71.9 percent. The current week production
represents a 5.7 percent decrease from the same period in the previous year.
Production for the week ending October 27, 2012 is down 2.5 percent from
the previous week ending October 20, 2012 when production was 1,722,000 tons
and the rate of capability utilization was 69.7 percent.
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"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
7:00 am CST today show 3 month nickel trading around $.07/lb
Reports
Commodity/Economic Comments
Nickel's bounce
to be hit by heavy 2013 surplus - Nickel prices may see a short-term lift
over the next several months due to a seasonal rise in demand for stainless
steel, but next year's outlook is burdened by another market surplus. -
Hernic
enters new Eskom buy-back programme - Ferrochrome producer Hernic would
temporarily shut down two furnaces at its De Kroon operations on December
1, as it entered a new power buy-back programme with State-owned Eskom. -
China Cr Ore
Imports Sharply Drop - October 2012 = Down 28% from September to 685,048
tons = According to China's customs statistics, details of the imports of
chrome ore in October 2012 as well as during the ten months (January - October)
of 2012 were as per the table attached hereto. -
Japan steel
mills begin trial use of Vietnam high-carbon ferrochrome - At least two
steelmakers in Japan have begun to use high-carbon ferrochrome of Vietnamese
origin on a trial basis at their mills, following the first shipment to Japan
in March, Yoshitaka Murobushi of Advanced Material Japan said Monday. -
Morning Nickel
Inventory and Price Statistics & Figures
Lawsuit
against mining firm brings Guatemalans to Toronto - Five Guatemalans are
in Toronto to sue a Canadian mining firm over allegations the security staff
of one of its subsidiaries brought violence and death to their village. -
Talvivaara
production under scrutiny after mine restart stalls - Nickel miner Talvivaara
yesterday postponed the restart of mining in Sotkamo, Eastern Finland by
half a year to mid-2013, raising concern over its future metals production.
-
Deep underground,
Dinosaurs Roam - (interesting article about Norilsk but difficult to read)
- link goes to an online edition -
Stainless Steel and high temperatures -
Steel, Aluminum
Shipments Stop Free Fall in October - The slowdown in steel and aluminum
shipments through the late summer eased in October in both the United States
and Canada, according to the latest Metals Activity Report from the Metals
Service Center Institute, Rolling Meadows, Ill. -
Canadian
Royalties aims to start shipments from Nunavik Nickel in 2013 - A Chinese-owned
mine in Nunavik will soon see huge ice-class vessels sailing through Hudson
Strait to bring nickel, copper, platinum and palladium to European markets.
-
ThyssenKrupp
to lose billions in steel plant sales - German heavy engineering giant
ThyssenKrupp has been bracing for multi-billion-euro (dollar) losses over
the planned sale of its steel plants in the Americas. Construction defects
will cost the firm dearly. -
European
stainless steel surcharges down for December - European stainless steel
surcharges for December are lower, producers announced at the end of last
week, as the price for nickel, the main driver for some of the alloy surcharges
continued to trade in a weaker range over much of November. -
Indonesia's
nickel ore exports recover from govt curbs - Indonesia's nickel ore exports
recovered in October, as biggest buyer China stocked up ahead of winter and
more miners resumed production after meeting tough government rules that
battered shipments this year from the world's top exporter of the metal.
- 
Japan Ferrochrome
Demand/Supply For 9 Months of 2012 = High-carbon consumption down reflecting
SUS production cut = Demand and supply of ferrochrome in Japan during the
first nine months (January - September) of 2012 were as per the table attached
hereto. -
PNG Ramu Nickel,
Cobalt Mine Ships Product to China - Highlands Pacific states that the first
loading of 576 tons of nickel and cobalt mixed hydroxide intermediate product
has been completed in Basamuk smelting plant and shipped to China. The
intermediate product includes 217 tons of nickel and 19 tons of cobalt. -
Xstrata:
Koniambo Nickel Project First Production Line Completed - Xstrata PLC, the
Anglo-Swiss mining company that's in the process of merging with Swiss
commodities broker Glencore International PLC, said Friday Xstrata Nickel--the
industrial partner in the Koniambo Nickel Project--has completed construction
of the first production line of the smelter Line 1. -
Zim brushes
off pressure from chrome producers - Windhoek - Zimbabwe Government has refused
to cave in to pressure from mining companies to temporarily lift or relax
a ban on chrome ore exports, which companies say is worsening their plight.
-
Norilsk
stops Tati nickel operations after fault at some point smelter - The
earth’s biggest nickel the manufacturer, Russia’s Norilsk Pennie,
will halt it is Tati mine and many concentrator in Botswana to use as 12
days, after a furnace breakdown at once smelter that processes the majority
of the concentrate from the area mine. -
Xstrata
Investors Seen Backing Glencore Takeover - Trading in Xstrata Plc shows that
investors, who vote today on 2012’s biggest takeover, have almost never
been more confident that Glencore International Plc’s 19.5 billion-pound
($31 billion) bid will win approval. -
Takamul mulls
ferrochrome smelter project in Oman - Takamul Investment Company, the downstream
investment subsidiary of Oman Oil Company, is actively weighing the feasibility
of establishing a ferrochrome smelter project in the Sultanate. -
Philippines' Nickel Asia says Taganito project cost to rise 22 pct
- The cost of building the Philippines' second nickel processing plant, due
to be completed next year, will rise 22 percent to $1.59 billion, swelled
by higher material prices and changes in specifications, the country's biggest
nickel miner said on Tuesday. -
Palmer
slams “bullsh*t” rumours - Mining magnate Clive Palmer says rumours
claiming he might have to close his Yabulu refinery over the Queensland wet
season are “bullsh*t”. -
Stainless
Steel and Nickel - 100 Years of Working Together - Stainless steel is everywhere
in our world and contributes to all aspects of our lives. We find stainless
steel in our homes, in our buildings and offices, in the vehicles we travel
in and in every imaginable industrial sector. Yet the first patents for stainless
steel were issued only 100 years ago. -
Dominican Republic: Protests of Nickel & Gold Plans - On Nov. 11
Congressman Adriano Sánchez Roa, of the Dominican Republic’s
ruling PLD Party, rejected the award of a license to Canadian mining firm
Unigold, claiming it would threaten environmentally protected areas, particularly
the Manolo Tavárez Justo National Park. -
Madagascar
ships its first refined nickel - Madagascar shipped its first refined nickel
last week, a statement from the company explorer of cobalt and nickel in
the country said on Monday. -
Turkish Chrome
Ore Exports Decline Continue - October 2012 = 103,541 tons, down 7%; exports
to China recovered = Turkey's exports of chrome ore during October 2012 as
well as the ten-month period (January - October) of 2012 are as per the attached
table hereto. -
Venezuela
to Take Over Anglo American Nickel Concession - Venezuela will take control
of a nickel concession operated by Anglo American Plc (AAL) when it expires
tomorrow, said an official from the Oil and Mines Ministry. -
Asian
Prices Of Austenitic CR Stainless Sheets To Downward Revision By Over $100
- Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian
area are forced to be revised to the downward trend by $100 to 150 to the
level of $2,700 CFR. -
Eramet Group
Production/Turnover - Q3 2012 = Manganese Group/Nickel Group downtrend in
turnover continued = Eramet Group of France released production/turnover
results of the Q3 (July - September) of 2012 on October 25. -
