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Daily Nickel Market News & Stainless Steel Prices

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Wednesday, November 27

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.14/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with most other London traded base metals trading lower, and very quietly again. Stockpiles of nickel stored in LME approved warehouses rose over the 1/4 million tonne level for the first time in history yesterday, and started today with 250,572 tonnes. Cancelled warrants continue to run around the 39% level and measure nearly 98,000 tonnes. US markets are closed tomorrow for Thanksgiving and are open reduced hours on Friday. Many take a four day weekend so not much is expected out fo the States on Friday. Lot of nickel news today, so plenty of reading for those who may find things a little slow at the office today. We are taking a four day weekend as well and our next update will be on Monday. Happy Thanksgiving to our US readers and Happy Hanukkah to our Jewish readers. Have a safe and pleasant weekend!
  • Average price of cash nickel so far this month - $6.26/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings as Investors Weigh Strong Demand, Supply Glut - more
  • Reuters metals morning -

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.99
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (CK) China, the world's largest steel producer, saw its output of crude steel rise 8.3% year on year to 652.48 million metric tons in the first ten months of this year, according to the latest statistics released by the National Development and Reform Commission. - more
  • (SSY) US steel imports rose by 17% year-on-year and 8% month-on-month to 2.8 Mt in October, the highest level since May 2012, according to preliminary data from the US Census Bureau. However, total imports in the first ten months of 2013 of 24.5 Mt were still 1.2 Mt lower than the corresponding period in 2012.
  • (AM) Chinese chrome ore import up by 45% YoY in October
  • Rich Russians Sparring With Putin Over $48 Billion Olympics Bet - more

    Commodity outlook for Nickel – global supply/demand trends, Peter Richardson, Chief Metals Economist, Morgan Stanley - more

    Vale faces compensation demand in New Caledonia acid spill appeal case - Five New Caledonian environmental groups have demanded that the Vale nickel company pay 7.8 million US dollars for the damage caused by an acid spill four years ago. - more

    Supply Rules In Commodity Markets - At the start of the final week of November local stockbroker Bell Potter had some sobering news for investors counting on a turnaround in fortunes for producers of nickel: it's going to get worse first.- more

    Vale Hopes to Sign Contract Soon - Vale Indonesia, the largest nickel matte producer in the country, remains optimistic it will conclude its mining contract renegotiation with the government sooner rather than later, ahead of heated national elections next year. - more

  • Vale’s projects on hold pending renegotiation - more

    Exclusive - JPMorgan tried but failed to satisfy Fed on metals warehousing: letters - The U.S. Federal Reserve was pressing JPMorgan Chase & Co to distance itself from its metals warehousing business more than a year ago, documents seen by Reuters show, long before the issue became a focal point in the debate over Wall Street's role in physical commodities trading. - more

    Xstrata Nickel’s planned mine a hot potato for Dominican officials - The head of Dominican Republic’s dams and canals agency on Tuesday said it’s up to the Environment Ministry to classify and decide whether mining at Loma Miranda poses a threat to the central region’s water supply. - more

    New Caledonian environmentalists want Vale safe before restart - The head of New Caledonia’s Rheebu Nuu environmental group, Raphael Mapou, says it will only condone to restart of the Vale nickel plant if it can guarantee its safety. - more

    Zeppelins Seen Hauling Caterpillars to Mine Siberia: Commodities - Robin Young of Amur Minerals Corp. wants to dig for nickel and copper in Siberia where forbidding winters and poor roads make it tough to haul in equipment. His best option: fly it in with zeppelins. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, November 26

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.14/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mixed and very quiet. Stockpiles of nickel stored in LME approved warehouses resumed its record breaking run on Tuesday and ended the day with 249,660 tonnes. Cancelled warrants are now running near 39%. Worldwide equity markets appear to be on hold this morning, possibly waiting on a few US financial reports to give it some direction. Metals are quiet as well, although a stronger Euro this morning should be giving it some positive momentum. US markets are closed on Thursday for Thanksgiving, and with much of the nation traveling, and reduced trading hours, Friday's trades from the US should be quiet as well. OUr last update for the month will be tomorrow, and we will resume coverage next Monday. AK Steel announced stainless steel price increases yesterday and we expect their US competitors to follow suite.
  • Average price of cash nickel so far this month - $6.26/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - LME aluminium recovers from 4-1/2-month low as dollar dips - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.11
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MF) Taiwan initiates AD duty on imports of stainless CR product from China
  • Russian Metal Shares Rise on Chance of Help: Moscow Mover - more

    (AK Steel PR) AK Steel said today that it will increase base prices for the following specialty stainless steel products, effective with shipments on January 1, 2014.  -

  • All martensitic products
  • - All precipitation hardening (PH) products
  • - All tensile rolled products
  • - All duplex products
  • - All bright annealed products
  • - All custom melt products or grades that are specific to AK Steel

AK Steel said the increase will be achieved through a discount reduction of two percentage points. Surcharges for the broad range of stainless steel products that AK Steel produces will remain in effect, and can be found under the Markets and Products section of the company’s web site at www.aksteel.com. (source)

    New Caledonia leaders call for international nickel cartel - New Caledonian political leaders say they would like to create a nickel cartel with Indonesia and the Philippines similar to the oil producing countries’ OPEC. - more

    China's Nickel Production in October Is 26,544 Tons =Up by 19% from year-earlier month, and sum total from Jan. to Oct. is also up by 31% from year-earlier period= According to National Bureau of Statistics of China, the production volume of nickel in October 2013 was 26,544 tons (in pure Ni equivalent), up by 14.6% from 23,154 tons of the prior month and up by 18.6% from 22,389 tons of the year-earlier month. - more

    Courtesy AISI - In the week ending November 16, 2013, domestic raw steel production was 1,856,000 net tons while the capability utilization rate was 77.5 percent. Production was 1,744,000 net tons in the week ending November 16, 2012, while the capability utilization then was 70.1 percent. The current week production represents a 6.4 percent increase from the same period in the previous year. Production for the week ending November 16, 2013 is up 1.5 percent from the previous week ending November 9, 2013 when production was 1,829,000 net tons and the rate of capability utilization was 76.3 percent.

  Morning Nickel Price Statistics & Figures

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

Monday, November 25

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.12/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.05/lb lower, with most London traded base metals trading lower as well. Stockpiles of nickel stored in LME licensed warehouses took a break from a week of record breaking inventory gains, and closed slightly lower and just over the 249,000 tonne level. Equity traders around the world appear to be mostly bullish, while metals commodity traders remain bearish. Having closed below support for two consecutive sessions, nickel has sent a technical signal, that it could now test the next support level of $5.97/lb. We still have the Indonesia nickel ore ban in 2014 that is adding some fundamental support, but record breaking stockpiles are negating this as an immediate concern. There was a time, in our not so distant past, that when a nickel mine anywhere announced something had happened that 'might' affect production, the price of nickel would soar. Did anyone notice Goro shut down a few weeks back after a pipe burst and doesn't expect to back in production until mid December? Finland's nickel mine is near bankrupt, Dominica Republic's nickel mine is closed, as is one of Brazil's. Still the stockpiles grow.
  • Average price of cash nickel so far this month - $6.27/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Drops From Two-Week High on Outlook for Fed Stimulus Cut - more
  • Reuters metals morning - LME copper down after 3-day gain on Fed tapering concerns - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.36
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Hebei closes polluting iron and steel plants - more
  • Asteroid miners prepare, but eye water first - more

    Chinese Stainless Mills to Use More NPI to Substitute Nickel, SMM Wang Says – Chinese stainless mills will use more nickel pig iron (NPI) to substitute pure nickel next year, which is expected to weigh down further on nickel prices , Shanghai Metals Market said at its 2013 China Metal Summit. - more

    Regulation on Operation of Ferroalloy Plant in Feng Zhen City, China ==Most of plants in city are shut down by order of Department of Environmental Protection= The Department of Environmental Protection in Feng Zhen city in Inner Mongolia, China has implemented the regulation on the operation of ferroalloy plants in the city since November 16 for the purpose to protect environment. - more

    Funds lukewarm on commodities for 2014 - Leading fund managers have little interest in most commodities next year due to worries about demand in top buyer China and slow global growth, but some are targeting platinum group metals due to supply concerns. - more

    Charge chrome import price eases on slow demand - The spot price for South African charge chrome (48-52% Cr) was assessed at 83-84 cents/pound CIF China Friday, down from 83-85 cents/lb CIF China assessed the previous week, amid slow demand. - more

    New Caledonia environmentalists insist on Vale safety before restart - The head of New Caledonia’s Rheebu Nuu environmental group, Raphael Mapou, says it will only condone a restart at the Vale nickel plant if it can guarantee its safety. - more

    Medvedev Meets Russia Metals Chiefs as Industry Seeks Aid - Prime Minister Dmitry Medvedev is meeting executives of Russia’s largest metal and mining companies today to discuss steps to support the industry amid slumping commodities and stock prices. - more

    Cold forming is shaping the future for stainless steel - As a method of manufacturing precision components, cold forming has dipped under the radar of many engineers. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, November 22

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.12/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mostly higher as well. Stockpiles of nickel stored in LME approved warehouses did what it has done on most days lately, set a new all time record high. Totals for Thursday were recorded at 249,138 tonnes, with cancelled warrants running nearly 37%. Base metals are getting a boost this morning from a stronger Euro, but with nickel closing below support for a second consecutive day on Thursday, the short term trend has given a negative technical signal. At best, we expect nickel to stay rangebound. The uncertainty about Indonesia and its planned 2014 ban of unprocessed ore remains the wild card. Patrick Buffet, chief executive officer of Societe Le Nickel, is reporting the situation in the nickel market is growing desperate, and that the oversupply could last for years due to the production of pig nickel in China. Interesting article linked below. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $6.28/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper on track for first weekly gain in three - more

  Reports

  • Steel & Metals Market Research Monthly Stainless Steel Briefing - more
  • Oryx Stainless Report - "If the public helps'' - pdf here
  • Outokumpu Nirosta December Stainless Steel Surcharge - pdf here
  • AK Steel December Stainless Steel Surcharge - pdf here
  • Allegheny Ludlum December Stainless Steel Surcharge - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.67
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • UBS: China's GDP growth to reach 7.8 percent in 2014 - more
  • Taylor, Jamison Outpace Commodity Hedge Funds Seeing Losses - more

    Eramet chief warns of 'violent crisis' in nickel market - The chief executive of French mining group Eramet has blamed a "violent crisis" gripping the world nickel market for "huge" losses at a subsidiary and said conditions are unlikely to improve for two years. - more

    Nickel market divided over scope and effect of Indonesia's raw material export ban - Nickel has been the worst performing base metal this year on the London Metal Exchange with a poor fundamental outlook keeping prices under pressure and the metal remaining a "short" target for funds. - more

    New Caledonia’s SLN nickel company hit by plummeting prices - The head of the Eramet nickel company, Patrick Buffet, says the nickel market is in a deep crisis and incurring massive losses to its New Caledonian subsidiary, SLN. - more

    Vale’s New Caledonia plant closed for at least a month - The nickel company Vale in New Caledonia says its plant will remain closed until at least late December. - more

    Cliffs Mine Shutdown Threatens Ring of Fire Development - Cliffs Natural Resources Inc.is postponing a $3.3 billion project in Ontario, threatening development of the mineral-rich Ring of Fire area once described as Canada’s most-promising mining region. - more

    Mirabela provides notice of cease trade order - Mirabela Nickel Limited announced today that the British Columbia Securities Commission has issued a cease trade order against Mirabela, due to the Company not filing by 14 November 2013, its interim unaudited financial statements for the third quarter ended 30 September 2013 and the associated management discussion and analysis. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, November 21

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.13/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME licensed warehouses rose to another all time record high on Wednesday and now total 248,550 tonnes. Markets around the world are trading mostly lower this morning after minutes from October's Fed meeting were released and showed Federal Reserve members spent much of their time not talking about when to start cutting off the free money to the market, but how to make to wean the junkies off their drug and make them feel good about it. HSBC also reported their Chinese Manufacturing PMI reading fell this month, hinting that Chinese economic expansion is lowing. With China the main driver to base metal consumption, this news coming on the back of continuing growing stockpiles, is adding a negative fundamental factor to nickel traders. Traders are already dealing with the fact that nickel closed below major support yesterday and another close today, could signal more losses coming.
  • Average price of cash nickel so far this month - $6.30/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper dips on Chinese PMI decline, tapering worries - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.09
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SMM) Nickel prices to average $14,500 per ton in the fourth quarter of this year, said Barclays Capital in a research note.
  • (Bloomberg) Citigroup boosted its 2014 forecast to $17,000 from $16,375, “driven by our core view that the Indonesian export ban is essentially being mispriced,” according to the report.
  • (China Daily) The Purchasing Managers' Index will probably dip to 50.4 in November from the seven-month high of 50.9 in October, HSBC said on Thursday.
  • (SSY) October data from the World Steel Association show monthly global crude steel output at 134.3 Mt, the highest level since May, up 6.6% from the same month in 2012.
  • China factory growth slows in Nov - more

    Japan's nickel smelters to be hit hard by Indonesia export ban - Japanese nickel smelters will be severely impacted by Indonesian bans on exports of unprocessed mineral ores due in January as Japan imports 43 percent offer ro-nickel materials from Indonesia, the head of mining industry body said on Thursday. - more

    Chinese Stainless Mills to Use More NPI to Substitute Nickel, SMM's Wang Says - Chinese stainless mills will use more nickel pig iron (NPI) to substitute pure nickel next year, which is expected to weigh down further on nickel prices , Shanghai Metals Market said at its 2013 China Metal Summit. - more

    Talvivaara fails to raise money for debt restructuring - Finnish miner Talvivaara edged closer to bankruptcy on Thursday after saying unnamed stakeholders had baulked at providing additional funds to help restructure debt of more than 300 million euros ($404 million). - more

    Base Metal Prices to Remain Flat - Go back to your distant childhood and recall tales of the Bronze Age. You probably had no immediate idea of what bronze was or, if you did, you struggled to distinguish this alloy of copper and tin from brass, an alloy of copper and zinc, and darn if you really knew what zinc was. - more

    Mine-Spending Reductions Seen Limiting Global Surplus of Metals - Supply gluts in metals including copper and nickel may be limited as mining companies trim investments in production expansion after prices declined this year, according to Standard Life Investments Ltd. - more

    Xstrata Nickel again calls planned mine feasible - Xstrata Nickel’s Dominican Republic operation on Tuesday reiterated that it’s feasible to exploit Loma Miranda without affecting the area’s ecology and told lawmakers that during its 40 years in Bonao (central), its mine and other activities have coexisted perfectly. - more

    BHP Biliton sees China key driver for mining industry - Global miner BHP Billiton Chairman Jac Nasser said on Thursday that China's economic growth remains an important driver for the resources industry. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, November 20

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.21/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mostly lower, and mostly quietly. Stockpiles of nickel stored in LME licensed warehouses rose to yet another all time record high on Tuesday and now total 247,638 tonnes. Some interesting information to consider. Cancelled warrants yesterday totaled 90,852 tonnes, 36.69% of total LME stockpiles. Two years ago today, nickel closed trading the prior day at $8.13/lb, and with only 5.54% of inventories in cancelled warrants, the 'total' of all stockpiles in LME warehouses that day was 84,750 tonnes. Staggering numbers, to be sure. Asian markets ended lower overnight, European stock markets are mostly lower this morning, and US futures are stagnant at the moment.
  • Average price of cash nickel so far this month - $6.31/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rallies From Three-Month Low on Bernanke’s Rates Comment - more
  • Reuters metals morning - Copper climbs on U.S. stimulus, Chinese reforms - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.31
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (FAN) U.S. service center shipments of stainless steel rose last month, according to the latest Metals Service Center Institute (MSCI) data.
  • (SSY) The Organisation for Economic Cooperation and Development (OECD) lowered its global GDP growth estimate for 2013 to 3.1% from its previous projection of 2.7%.
  • China hard landing is likely: Andy Xie - more

    New Caledonia inspection regime of Vale plant queried - The political party, Caledonia Together, has questioned the apparent inaction of the authorities of the southern province in dealing with a rupture of an effluent pipe of the Vale nickel plant. - more

    Critical Feeling over Drop in Prices of CR Austenitic Stainless Sheets Grows Again - Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian region begin to take a dark turn. - more

    Production of Stainless Steel Products in September 2013 Is 252,319 Tons =Up by 9% from prior month and all-time high level since July 2011= On November 15, the Ministry of Economy, Trade and Industry announced the production volume of stainless steel products (hot-rolled products) in September 2013 was 252,319 tons, which represented an increase of 8.7% versus the prior month and an increase of 6.5% versus the year-earlier month, and was an all-time high level since July 2011. - more

    Glencore, Rusal to build -  Two of the world’s leading commodities players plan to set up ore refineries in Indonesia to take advantage of the country’s policy banning unprocessed ore exports, beginning next year. - more

    Bankruptcy seen looming for Finnish nickel miner Talvivaara - A temporary shutdown and reorganization petition filed by Finland's Talvivaara nickel mining company has brought predictions of its eventual bankruptcy. - more

    Thyssen nears U.S. steel plant sale, cartel settlement - Germany's ThyssenKrupp is nearing a long-awaited sale of its U.S. steel plant and has reached an agreement to settle a cartel lawsuit, clearing the way for it to raise much-needed capital. - more

    China’s $100,000 aid ‘measly,’ judged by its Phl mining take - Talk about fair-weather friend. “As hundreds of thousands of Filipinos struggled to find food, water, shelter and the bodies of loved ones in the wake of Typhoon Haiyan, China quickly dipped into its world-leading $3.7 trillion of currency reserves and came up with … all of $100,000.” - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, November 19

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.24/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mixed and mostly higher. Stockpiles of nickel stored in LME approved warehouses rose to its eighth all time record high on Monday and totalled 244,938 tonnes. Cancelled warrants rose to another record high as well, over 39%. Traders appear to be confused about news coming from Indonesia that two government officials have reportedly verified that Indonesia will institute the ban on nickel ore, but also left the door open for a time extension. At least for the moment, nickel appears to be getting a slight boost from the news, and hovers above support at $6.17/lb. One of the reasons the government official gave as why the ban would eventually come, was to protect those that have made investments, or are making investments in Indonesia nickel smelters. And another group just happened to pick today to announce their entry into the Indonesia smelter building spree.
  • Average price of cash nickel so far this month - $6.32/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning -

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (LGMI) China's average daily crude steel output rose in first 10 days of November from the previous ten days to reach 2.144 million tonnes, the China Iron & Steel Association data showed on Monday.
  • Four-Part Series on the Ring of Fire – by Stan Sudol - more
  • Aussie Mine 2013 - more
  • U.S. taper, debt crisis threaten global recovery: OECD - more
  • Tropical Pacific expected to remain ENSO-neutral this summer - more

    Indonesia Weighs Ore Ban as Citigroup Increases Nickel Forecast -  Indonesia will press on with a ban on raw-mineral exports next year, while signaling the curbs may be amended in practice, according to two officials who addressed a conference in the largest mined nickel producer. Prices rose. - more

    Protest outside New Caledonia’s Vale nickel plant - About 300 people in New Caledonia have been protesting near the Vale nickel plant whose operation has been suspended since last week after it became public that an effluent pipe had broken. - more

    Forum says no to mining in Solomon Islands’ Isabel - Plans for mining in Solomon Islands Isabel province are on hold following a forum that aired strong opposition to the activity. - more

    China's Trade of Molybdenum in Jan-Sept 2013 =Import is up by 14% from year-earlier period, and export is still grossly down from year-earlier period= According to the calculation to figure out volumes in pure Mo equivalent based on China's customs statistics, the export volume in the period from January to September in 2013 was 6.2226 million lbs (down by 47.3% from the year-earlier period) and the import volume was 10.7049 million lbs (up by 14.6% ditto). - more

    Harita to Build $320m Nickel Smelter - Harita Group, an Indonesian business group, plans to spend $320 million to build a nickel smelter in South Halmahera’s Obi island, in North Maluku province. - more

    Sirius hopeful of nickel price turnaround - Sirius Resources is hopeful of a turnaround in the lowly nickel price by the time it comes into production in 2017. - more

    September Recovery Continues into October - October shipments grew at virtually the same rates in the United States and Canada as in September. Inventory positions continued to improve across the board. - more

    Courtesy AISI - In the week ending November 16, 2013, domestic raw steel production was 1,856,000 net tons while the capability utilization rate was 77.5 percent. Production was 1,744,000 net tons in the week ending November 16, 2012, while the capability utilization then was 70.1 percent. The current week production represents a 6.4 percent increase from the same period in the previous year. Production for the week ending November 16, 2013 is up 1.5 percent from the previous week ending November 9, 2013 when production was 1,829,000 net tons and the rate of capability utilization was 76.3 percent.

  Morning Nickel Price Statistics & Figures

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

Monday, November 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.23/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with all London traded base metals trading lower as well.Stockpiles of nickel stored in LME licensed warehouses fell off record highs on Friday and now total just over the 244,600 tonne level. Equity markets continue their bullish tilt, thanks to reassurances from the future Fed Chairperson that the free money will continue to stoke the markets. Nickel bounced off support on Friday, but if it is testing that level again today. Nickel markets remain ho-hum, which would be good news for stainless steel producers, if their markets weren't somewhat ho-hum as well. Stainless steel production is up so far for 2013, but that is due entirely to China. Still no clear news from the Philippines on what effect the typhoon that struck there will have on future nickel shipments. And Indonesia has yet to alter its ban on ore exports that is scheduled to begin less than two months.
  • Average price of cash nickel so far this month - $6.33/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls After Funds Turn Bearish and Investors Favor Stocks - more
  • Reuters metals morning -

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • China issues new reform details - more
  • RPT-China reform winners consumer, healthcare stocks; losers, big banks - more
  • China shares have biggest daily gain in 2 months - more

    Worldsteel 2013 Steel Statistical Yearbook now online - The World Steel Association (worldsteel) has published the 2013 Steel Statistical Yearbook, now available on this website. - more

    Tin Seen by Morgan Stanley as Best Base Metal Pick for 2014 - Tin is the top base metal pick for 2014 as increasing global demand outstrips supply, according to Morgan Stanley, which highlighted a decline in inventories and China’s role as a net importer. - more

    Molybdenum oxide price holds, market reports limited activity - Molybdenum oxide prices were unchanged Friday but looked under pressure with deals concluded at the bottom of the range. Platts assessed its daily molybdenum oxide price at $9.80-9.90/lb. - more

    Steel companies making solid profits for 2013 - China's listed steel companies posted a net profit of 5.85 billion yuan ($960 million) in the first three quarters, reversing an industry-wide loss from a year earlier, China Securities Journal reported over the weekend. - more

    Solomons’ nickel-rich province lacks experienced deal negotiator: Premier - The leader of the administration in Solomon Islands’ Isabel province says his region needs lawyers experienced in striking mining deals. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, November 15

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.20/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with most other London traded base metals trading lower. Stockpiles of nickel stored in LME licensed warehouses rose to yet another record high on Thursday, now totalling 244,818 tonnes. Cancelled warrants also hit another record level, over 37%. Nickel is getting a psychological boost this morning, with news that two larger nickel mines are on the verge of bankruptcy. But with stockpiles continuing to hit new record highs on a nearly daily basis, any boost will likely be temporary. Technically, nickel is trading just above a support line. Equity markets are trading higher today, after Fed Chairman nominee Yellen assured markets that she will keep feeding the US market stimulus money, and guaranteeing no matter what the economy is doing, the stock market shall continue to prosper. Commodities are a little more concerned with the world economies from a fundamental aspect, and the strength of the Dollar from a technical aspect, and neither of these are being very friendly lately. Until next week - have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $6.35/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Dacapo An optimistic gaze towards 2014 - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.43
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • S. Korean steelmaker POSCO CEO resigns - more

    Mirabella Nickel defaults on US dollar bond - Mirabela Nickel has become the first Australian company since April 2009 to default on a US dollar bond. - more

    Talvivaara seeks court-supervised overhaul to avoid bankruptcy - Loss-making Finnish miner Talvivaara , battered by falling nickel prices and a slew of production problems, said it would file for a court-supervised overhaul without which it risked bankruptcy. - more

    Palmer worried about nickel business - Leaked company minutes from Clive Palmer's troubled nickel refinery disclose management is concerned about keeping it open. - more

    Nickel may hold key to hydrogen future - Coating silicon electrodes with nickel prevents corrosion and allows them to split water molecules for longer, a new study reveals. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, November 14

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.17/lb . Indicators at 7:00 am CST today show 3 month nickel trading flat, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses hit another record high on Wednesday and now totals 243,150 tonnes. Cancelled warrants jumped over the 37% level as well, which kept cancelled warrants at record levels as well. IN fact, there is more nickel on cancelled warrants at the moment, than there was physical nickel stockpiles at the end of 2011. Worldwide equity markets are trading mostly higher today, while commodities are lower. Two more nickel mines have closed, but there is no reason to believe their closings will be anything but temporary. One is closed due to an earthquake earlier in the week, and the other, due to a leak in a pipe. Nickel continues its negative trend and could test support in the next few days.
  • Average price of cash nickel so far this month - $6.37/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings Between Advances, Declines on Europe Data, Yellen - more
  • Reuters metals morning - Copper steady near 3-month low, rising supply weighs - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.53
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (FAN) According to statistics, China's imports of stainless steel scraps totaled 288,000 tonnes falling by 3.4% YoY and decreasing by 14.4% from a month ago.
  • (SSY) In the last two weeks, the world export price of hot rolled band has held steady, edging up by $2/t to $557/t, according to the latest SteelBenchmarker published by World Steel Dynamics.

    No overnight solution to LME metal queues - LME executive - The London Metal Exchange's rules overhaul will not solve its four-year warehousing crisis overnight, an LME executive warned, while an analyst said the measures could increase volatility and hurt liquidity in the exchange's top-volume contract aluminum. - more

    Sumitomo Metal’s Taganito Project Ships First Nickel to Japan - Sumitomo Metal Mining Co., Japan’s top nickel producer, said its Taganito nickel project in the Philippines shipped the first shipment to Japan in late October and is heading for full production from January. - more

    Vale nickel plant suspends operations in New Caledonia - The nickel company Vale in New Caledonia has suspended operations after an effluent pipe leading through a lagoon of a World Heritage site was damaged. - more

    China Ferrochrome: Domestic prices steady; ore market provides support - Domestic spot prices of high carbon ferrochrome (basis 50% Cr) in China continued to hold steady week on week at Yuan 6,850-7,000/mt (85-86.5 cents/lb), on a delivered basis including 17% VAT, amid little change in market fundamentals, sources said Wednesday. - more

    Ni SUS Scrap Price in November Remains Unchanged =Price continues to be flat for 3 months since September, and fluctuation in South Korea is also small= The price of nickel-containing stainless steel scrap (SABOT) to be purchased by Japanese stainless steel mills in November comes to JPY143,000 - JPY144,000 which is the same price as October, and has continued to be flat for 3 months since September. - more

    Hundreds respond on PPA’s call to help Marcventures relief operation - Hundreds of volunteers, mostly students, trooped to this premier port of Caraga Region on Wednesday, November 13, in response to the Philippine Ports Authority’s call for help in the repacking of Marcventures Mining and Development Corporation’s P10.1-million relief goods to be sent to Tacloban City. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, November 13

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.23/lb . Indicators at 7:00 am CST today show 3 month nickel trading unchanged, with other London traded base metals doing little as well. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just under 241,600 tonnes. While presently trading quietly and virtually unchanged, nickel continues to trend lower and looks to test support of $6.15/lb. Market consists of a lot of uncertainty and traders hate that. First, the monthly fears that the US Fed might cut off the supply of free money had the addicted market pondering. And China has yet to announce new reforms from its recent Congress meeting, and that has commodity traders wondering. We also do not have any word yet from Indonesia on whether they intend to enforce their January ban of nickel ore. And we still do not have any definitive word from the storm ravaged Philippines if nickel mining there was affected. In the case of nickel, the uncertainty isn't all bad, because the one certainty we do know is a lot more nickel is being produced than consumed, so any disruption to the supply chain, could support pricing.
  • Average price of cash nickel so far this month - $6.39/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Reaches Two-Month Low on Speculation Fed Stimulus to Slow - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.56
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • U.S. to add steel duties - more
  • 'No more land' for firms with surplus capacity - more
  • Small Businesses Optimism Takes a Tumble - more

    BHP suspends Australia nickel mine after small earthquake - BHP Billiton will post lower nickel production in the current quarter after a minor earthquake closed down operations at its Perseverance mine in western Australia. - more

    Poseidon hopes to re-start Mt. Windarra in 2014 - Australian billionaire Andrew Forrest may have stepped down in September as non-executive chairman of Poseidon Nickel to focus on his philanthropic endeavors, but his resignation didn’t signal any underlying loss of confidence in the company’s Mt. Windarra nickel sulphide project, management says, and the mining entrepreneur still has a lot of skin in the game. - more

    Clive Palmer's refinery in Queensland government's sights - Clive Palmer's Townsville nickel refinery has less than a month to meet the government's environmental requirements. - more

    Glasenberg Says Glencore Has Edge From Mining-Trader Mix - Glencore Xstrata Plc, the global mining and commodities group that started trading in Johannesburg today, has an edge over rivals through its mix of businesses, its chief executive officer said. - more

    Zambia warns mining job cuts violate investor licences - Zambia warned on Wednesday it viewed any moves by mining companies to lay off workers without consulting the government as a violation of their investment licences. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, November 12

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.29/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses returned to breaking all time record highs, with today's new record high total at 241,716 tonnes. No word yet on whether the typhoon damage in the Philippines will have any affect on laterite nickel ore production there, but what has become horribly clear, is those areas that were in the direct path of Haiyan, were completely devastated. We still have support for nickel at $6.15/lb, and if the trend continues, we could be testing that in a few days.
  • Average price of cash nickel so far this month - $6.42/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips as dollar strong on Fed expectations - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.58
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) China's crude steel output in October was up by 9.2% year-on-year to 65.1 Mt, according to data from China's National Bureau of Statistics. Annualised crude steel production for the Jan-Oct period of 781.2 Mt compared with 714.0 Mt in the whole of 2012.
  • Cuban leaders eye new port as economic lifeline - more
  • China's iron ore imports up 20.2% in Oct - more
  • Iron Ore Rallying as Cargoes to China Reach Record: Commodities - more
  • China to Take Iron Ore Pricing Power From Miners, Banga Says - more
  • China vows "decisive" role for markets, results by 2020 - more
  • SI: People must decide about mining, delegates told - more

    BIR Autumn Roundtable: A Bubble for Stainless Steel? - The recent phenomenon of nickel pig iron (NPI) production in China has resulted in a drop in scrap needs in the country. - more

    Import of SUS Scrap in September 2013 - The trade statistics prepared by the Ministry of Finance shows the import result of stainless steel scrap in September 2013 in Table (1) for by country and in Table (2) for by discharge port. - more

   Are Prices For Every Metal About to Go Up 15% - The London Metal Exchange is hoping so. The world's go-to market for base metals announced reforms yesterday designed to lift prices across the metals complex. - more

    MMSK appeals to Russian agencies to postpone Voronezh nickel deposit development - Mednogorsk Copper-Sulfur Plant–known as MMSK–recently applied for permission from the Russian government to postpone the start of development at the Yelanskoye and Yelkinskoye nickel deposits in the Voronezh region. - more

    Borneo trees may be mined for minerals - Mount Kinabalu, Borneo, is home to trees that contain some of the world’s highest concentrations of nickel. - more

    Courtesy AISI - In the week ending November 9, 2013, domestic raw steel production was 1,829,000 net tons while the capability utilization rate was 76.3 percent. Production was 1,744,000 net tons in the week ending November 9, 2012, while the capability utilization then was 70.1 percent. The current week production represents a 4.9 percent increase from the same period in the previous year. Production for the week ending November 9, 2013 is down 0.2 percent from the previous week ending November 2, 2013 when production was 1,833,000 net tons and the rate of capability utilization was 76.5 percent.

  Morning Nickel Price Statistics & Figures

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

Monday, November 11

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.31/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, albeit quietly. Stockpiles of nickel stored in LME approved warehouses slipped for a second consecutive day on Friday and ended the week just under the 240,000 tonne level. Equity markets around the world are trading mostly higher, with base metals trading lower. It's Veterans Day in the US, although the significance of the holiday has dimmed over the years. Most business' and all trading markets are open. The Philippines is trying to recover from a horrific typhoon last week that may have been the strongest on record to ever hit landfall. Some of the video coming from the area shows devastation strikingly similar to tsunami damage.  
  • Average price of cash nickel so far this month - $6.45/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper flat as U.S. tapering concerns offset China data - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.63
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SO) In the January-October period, China's PPI was down 2.0 percent and Chinese industrial producers' purchase prices were down 2.1 percent, both on year-on-year basis.
  • (SM) According to weekly data released by the China Iron and Steel Association (CISA) , the aggregate daily crude steel output of large and medium sized member enterprises declined by 0.5% during late-October (October 21st to 31st) compared to mid-October (October 11th to 20th).
  • Talvivaara plans to stay in Fennovoima reactor project -report - more
  • US Fastener Exports Jump 8% in August - more

    According to Chinese media quoting the Stainless Steel Council of China... figures from the first 3 quarters of 2013

  • Stainless steel crude production up 9.79% YOY to 13,664,000 tons
  • 300 series stainless share down to 50.38% while production up 20.93%
  • 400 series stainless share up to 21.2% while production up 25.02%
  • 200 series stainless share up to 28.42% while production up 14.29%
  • Imports of stainless steel fell 8.51% to 558,100 tons
  • Exports of stainless steel rose 29.44% to 440,700 tons

    1,000 workers laid off after construction of Vale nickel plant completes phase - An official with Vale in Newfoundland says about 1,000 people were laid off today because a construction phase at the nickel processing plant in Long Harbour has been finished. - more

    Export of SUS Scrap in Sept. 2013 Is 7,993 Tons, Down from Prior Month - According to the customs statistics prepared by the Ministry of Finance, the export result of stainless steel scrap in September 2013 was 7,993 tons, down by 2.9% from the prior month. - more

    Japan to Raise Prices of CR Austenitic Stainless Sheets for Jan. Shipment = The Japanese mills are expected to raise their offer prices by $50-80 - The Japanese stainless steel sheet mills are expected to commence export negotiations on cold-rolled (CR) austenitic stainless steel sheets for shipment of January next year from the 2nd half of this week. - more

    Al Tamman commissions ferrochrome project - Muscat: Al Tamman Indsil Ferro Chrome, a 50:50 joint venture between Muscat Overseas Group and India's Indsil Hydro Power and Manganese, recently commissioned its 75,000 tonnes per annum (TPA) ferrochrome smelter in Sohar free zone. - more

    LME Alters Warehousing Rules to Shorten Withdrawal Times - The London Metal Exchange, the world’s biggest industrial-metals marketplace, changed its rules to speed up withdrawals from warehoused stockpiles amid consumer complaints that prompted scrutiny from U.S. regulators. - more

    A closer look at the first 3D-printed stainless steel barrel - Eric Mutchler of Solid Concepts got back to me with answers to how the barrel of this 3D-printed gun was made. - more

  • Company Produces World's First 3D-Printed Steel 1911 .45 Calibre Handgun - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, November 8

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.38/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mostly lower and quietly. Stockpiles of nickels stored in LME approved warehouses took their second dip for the month, and now total just under the 241,000 tonne level. We show nickel closed below its 10, 30 and 100 day moving average yesterday, sending a negative technical signal. It closed at its lowest point since October 17th and we show support at $6.15/lb. Yesterday's close had little to do with the actual nickel market, and more to do with a strong US GDP economic report, affecting not only the trading value of the Euro, but also sending another flurry of nervousness thru the market, as traders once again wondered if their stimulus money could be tapered. Two news events that are either not getting much attention, or just now starting to attract attention, that could play a role on the fundamentals of nickel trade. First the typhoon we linked to yesterday, has turned into one of those 'storms of the century', with some saying Haiyan may be the strongest to ever hit landfall - ever. The Philippines is a major source of nickel ore to China, so besides the humanitarian needs that will need to flow into the country after this strom is gone, the flow of nickel coming out could decline also. Secondly, the the Third Plenary Session of the 18th Central Committee of the Communist Party of China will begin its four-day meeting on Saturday and we could see some big economic news coming out this meeting. And its possible that neither will make any impression on the nickel trade in the near future, but its worth watching them both closely. Vale confirmed yesterday that they will talk to Glencore next year about working in concert to lower costs for both Sudbury operations. Have a good weekend and our best wishes to friends in the Philippines!
  • Average price of cash nickel so far this month - $6.48/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Trade Most Bullish in Eight Months on China: Commodities - more
  • Reuters metals morning - Copper steady as Chinese imports offset U.S. demand worry - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (BNA) Brazil's Votorantim Metals shut down operations at its Fortaleza de Minas nickel plant in Minas Gerais state on November 5 due to the current unfavorable market scenario.
  • (MNP 10/14) In London, while the LME nickel price was creeping higher, a “straw poll” of 340 metal traders and other mining industry specialists produced a surprisingly strong future nickel price forecast of about $7.90/lb. While still well short of the boom price of $12/lb (and more) seen as recently as early 2011, the poll of delegates attending a Macquarie Bank seminar on the sidelines of the LME “Metals Week” celebrations earned nickel the title of the metal likely to do best over the next 12 months.
  • US extends antidumping duties on Chinese steel pipes  - more
  • Where's the aberration in China commodity imports?: Clyde Russell - more
  • AIIS September Import Press Release - pdf here

    New nickel projects ramping up...slowly: Andy Home - You don't need to look very far to understand why nickel has been the consistent underperformer of the London Metal Exchange (LME) base metals pack since the middle of the year. - more (unless corrected, this article is dated Oct 7th, when in fact it was published yesterday)

    Commodities May Drop 11% to Lowest Since ’10: Technical Analysis - Commodities may fall 11 percent in the next few weeks to the lowest since May 2010, according to technical analysis by Bank of America Corp. - more

    Production Plan for Special Steel Products in Oct-Dec 2013 Is 5.324 Mil. Tons =Grossly up by 21% from year-earlier period, and production for both domestic and export increases= Ministry of Economy, Trade and Industry made clear the production plan for hot-rolled special steel products in the period from October to December in 2013 on October 31. - more

    Finland’s Talvivaara Mining Company on the Verge of Bankruptcy - According to the latest interim report published by Talvivaara mining company yesterday shows that the company’s financial situation is in extremely difficult. - more

    Vale to Start Sudbury Venture Talks With Glencore by Early 2014 - Vale SA, the world’s second-biggest nickel producer, will start formal negotiations with Glencore Xstrata Plc by early next year to combine some operations in Canada’s Sudbury basin as it seeks to reduce costs. - more

    Palmer hits back at dam overflow report - Federal MP Clive Palmer says a massive dam storing contaminated water at his Queensland nickel refinery is meeting environmental regulations after claims it is at risk of overflowing. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, November 7

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $6.51/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel took only one day off from setting all time record highs, but returned to achieving just that yesterday. 240,408 tonnes is your new record high, with cancelled warrants for the last three days running at the 35% level. It appears the short term trend appears to be turning negative with nickel now trading below its 10 and 30 day moving average, and in danger of slipping below its 100 day level. The European Central Bank just announced it was leaving borrowing costs unchanged, and European markets have jumped on the news. The recent change in ownership of the London Metal Exchange is bearing fruit, with today's announcement in rule changes to get inventory moving thru warehouses more quickly, following a change in trading rules last Friday. Stockpiles of nickel one year ago today stood at 130,500 tonnes, cancelled warrants were at 10.54%, and cash nickel closed at 7.26/lb.
  • Average price of cash nickel so far this month - $6.52/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steady on global factory pick-up, dollar weighs - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.69
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (CF) China’s fastener exports rose 0.67% to USD 3.59 billion in the first nine months, accounting for 39% of the total export value of the general mechanical component industry. The fastener imports decrease 0.5% to USD 2.34 billion, taking up 17.7% of the industry’s total import value.
  • (FAN) Stainless steel scrap broker/processor prices remained flat this week, but dealers and traders said they expect the market to soften in the coming weeks
  • Philippines Braces for 'Strongest Storm of the Year' - more

    LME Changes Warehousing Rules to Shorten Withdrawal Times - The London Metal Exchange, the world’s biggest industrial-metals marketplace, altered its rules to speed up withdrawals from warehoused stockpiles amid consumer complaints that prompted scrutiny from U.S. regulators. - more

  • LME to cut metal queues to 50 days, review owners pact - The London Metal Exchange tried to appease critics of its global warehousing network on Thursday, slashing wait times for metal to 50 days and announcing a review of its agreement with warehouse owners. - more
  • LME enforces tighter floor trade rules on permanent basis - The London Metal Exchange said on Friday it will enforce tighter rules for "open-outcry" floor trading on a permanent basis following a trial to increase transparency amid regulatory pressure across financial markets. - more

    Talvivaara Loss Widens as Finland Urges Investors to Raise Funds - Talvivaara Mining Co., the Finnish nickel miner struggling to avoid bankruptcy, reported a bigger loss than analysts estimated as prices of the metal declined. - more

    Nickel Asia's net income slides on weak metal prices - The country’s biggest nickel producer cut its profit in the first nine months of the year on the back of weak metal prices. - more

  • Lower world metal prices weigh on miners’ profits - more

    Give Clear Position on Munali Nickel Mine - The Mazabuka Chamber of Commerce has urged government to give a clear position on the future of the closed Munali Nickel Mine. - more

    Environmental review of proposed copper nickel mine delayed until Dec. 6 - The release of a major environmental document for a proposed copper nickel mine has been delayed for two weeks because of the recent federal government shutdown. - more

    Award-winning Kiwi filmmaker exposes New Caledonian mine disaster - Entertainment: Film maker Jim Marbrook's new documentary, set to grace our screens next year, will examine the impacts of a mining disaster in New Caledonia. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Wednesday, November 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $6.52/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.02/lb higher, with most London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 239,800 tonne level. Considering the Euro is trading near 6 week lows, nickel is holding strong, even though we show it trading below its 10 day moving average, and falling out of the funnel to the negative. Today, it is higher on a stronger Euro, with European equity markets also trading higher, and US futures higher as well. For a mid week report, industrial news on the nickel and stainless steel industry is very light. For nickel producers this isn't necessarily good, while stainless steel producers will tell you the news about nickel being boring is sweet music. Stainless steel producers will always desire lower prices for nickel, but above all, a lack of volatility is good news.  
  • Average price of cash nickel so far this month - $6.53/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises Before U.S. Reports Seen Signaling Further Growth - more
  • Reuters metals morning - Copper edges up as dollar weakens; spreads tighten - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Tropical Pacific remains ENSO-neutral - more
  • New York Stock Exchange’s new owner: small-time investors are getting ripped off - more

    Indian ferrochrome makers queasy as China ups capacity - Through the years, China has become the world's dominant producer and consumer of metals. - more

    New YouTube animation highlights experimental seabed mining risks for the Pacific region - A new animated cartoon released on YouTube highlights the high risks of experimental seabed mining for the Pacific region. - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Tuesday, November 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $6.51/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb lower, with most other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to another all time record high on Monday, and now totals 239,958 tonnes. One year ago today, the LME reported stockpiles of 130,128 tonnes and cancelled warrants running at 10.38%. Today, cancelled warrants are reading around the 30% mark. We show nickel's first level of support set at $6.41/lb and it is in danger of trading below its 10 day moving average today for the first time since early October. Over the last five reporting sessions, the LME has reported inventory gains of 5,730 tonnes. European and US markets are trading lower this morning after the EC cut the eurozone's 2014 growth forecast to 1.1%.
  • Average price of cash nickel so far this month - $6.54/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rebounds on China Recovery Optimism: LME Preview - more
  • Reuters metals morning - Copper rises on global factory pickup, Fed tapering plans - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.73
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (CK) China's 10 nonferrous metals output up 9.8% in Jan-Sep
  • Horizonte Minerals unperturbed by fickle nickel - more
  • (China) New warning on overcapacity - more
  • Scrooge McDucks - more

    BIR Stainless Steel & Special Alloys Committee: China is overdoing it - From a standing start around a decade ago, NPI already accounted for 57 per cent of the Chinese stainless steel industry’s external raw material purchases while the scrap share had slumped from 52 per cent to 11 per cent over the same period, according to the founder and head of Heinz H. Pariser Alloy Metals & Steel Market Research in Germany. - more

    Mirabela client claims breakdown kills deal - Mirabela Nickel's battle with key customer Votorantim Metals is fast turning to farce after the Brazilian group claimed a malfunction at its smelter was sufficient to pull out of a long-term nickel offtake deal. - more

    China to further open its mining industry - China will further open its mining sector to overseas investors and encourage them to participate in resource exploration and utilization and the development of shale gas, said a senior official on Sunday. - more

    Lower levels of nickel, chromium causing stainless steel appliances to rust - Remember when stainless steel appliances first started showing up in homes 10 to 15 years ago? They looked as tough as nails, with a stainless finish that could last for decades. - more

    Courtesy AISI - In the week ending November 2, 2013, domestic raw steel production was 1,833,000 net tons while the capability utilization rate was 76.5 percent. Production was 1,707,000 net tons in the week ending November 2, 2012, while the capability utilization then was 68.6 percent. The current week production represents a 7.4 percent increase from the same period in the previous year. Production for the week ending November 2, 2013 is up 0.9 percent from the previous week ending October 26, 2013 when production was 1,817,000 net tons and the rate of capability utilization was 75.8 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Monday, November 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $6.63/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.10/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to another all time record high on Friday and now totals 238,584 tonnes. Cancelled warrants also hit an all time record high and closed over the 30% level on Friday. If you buy into technical signal theories and have watched the triangle forming that nickel has been trading in over the past few weeks, then the market is sending a negative signal today, by falling out of the squeeze to the south. All of the major PMI manufacturing readings we follow ended higher in October (chart here), but with stockpiles of nickel growing rapidly, it doesn't appear the supply of nickel is having any problem covering demand. Indonesia remains the wild card in the equation, and its potential ban on nickel ore exports. Very few really expect it to actually happen, but with the matter in question, it adds a degree of price support. We don't expect much out of nickel prices this week, unless a supply/demand surprise arises.  
  • Average price of cash nickel so far this month - $6.61/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls a Third Session on Speculation Fed to Slow Stimulus - more
  • Reuters metals morning - LME copper slips as uptick on global manufacturing data ebbs - more

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.74
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (MW) UBS forecasts nickel prices falling to around $13,760 a tonne in 2014, in part given otherwise high nickel laterite inventories in China – enough to cover around nine months of supply it says.
  • (SSY) According to the latest update from the National Bureau of Statistics, China's official Purchasing Managers Index showed that the country's manufacturing activity continues to expand, remaining above 50 points for a 13th consecutive month, standing at an 18-month high of 51.4 in October.
  • (FAN) The crude stainless steel production by 7 major stainless steel mills in September 2013 was 290,806 tons, down by 5.4% from 307,523 tons of the prior month.
  • (AM) Russia’s stainless steel imports rise by 7.1% in Jan-Sep
  • (MF) Posco remains stainless coil prices flat for November

    Stainless Steel & Special Alloys Committee: China heading towards a stainless scrap “bubble” - The rapid development of nickel pig iron (NPI) production in China had sharply reduced its scrap requirement. - more

    Vale’s Earnings Surge on Output - Vale Indonesia, the country’s biggest nickel miner, posted a 64 percent increase in profit in the first nine months of this year on the back of rising production and improving operations. - more

    Outokumpu Oyj : Outokumpu introduces daily alloy surcharge pricing model in Europe - Following a successful piloting, Outokumpu will introduce the daily alloy surcharge pricing model for distributors in Europe. Daily alloy surcharge (DAS) will cover new orders as of January 1, 2014 onwards. - more

    Loss-making Outokumpu reluctantly selling Terni as steel slumps - Finnish stainless steel maker Outokumpu reported bigger than expected losses on Friday and said it will have to sell its Terni plant in Italy after failing to persuade European regulators otherwise. - more

    Ferro Chrome industry hopes to ride stainless steel growth wave - The domestic ferrochrome industry is expecting stainless steel capacity to double in the next two to three years. - more

    Mirabela's future in doubt - Mirabela Nickel is bordering on the brink of collapse, with the Perth-based miner yesterday admitting it may need an administrator as it stares down the barrel of looming interest payments on almost half a billion dollars in debt. - more

    Australian Iron-Ore Tycoon's Next Bet is Nickel - Take an unloved commodity, land shunned by global mining companies, a large dollop of debt, and an optimistic view of Chinese demand - 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, November 1

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $6.61/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading mostly higher this morning. Stockpiles of nickel stored in LME approved warehouses ended October much like it started, setting a new all time record high on Thursday of 238,134 tonnes. This day last year, LME reported stockpiles oh 130,284 and cancelled warrants running nearly 1/3 of what they are these days. Prices were running about $.70/lb higher than they are today. The price of nickel closed just outside of the triangle yesterday and sent a weak sell signal. But so far, traders are dismissing this and nickel has crawled back into the triangle this morning. UBS analysts threw their prediction into the hat yesterday, forecasting Indonesia will back off their nickel ore export ban and that the price of nickel will remain low into next year. Norilsk reported their production o nickel rose sharply in the third quarter of 2013, but remained down year on year. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - na
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)

  Reports

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

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.75
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (AMM) Indonesia is more likely to cancel its raw material export ban than enforce it fully, and the most likely scenario is that a ban will be phased in, meaning that supply levels will not be immediately affected and nickel prices will drift lower in 2014, analysts at UBS said.

    Crude SUS Production by Major SUS Mills in September Is 290,806 Tons =Down by 5.4% from prior month, and NSSMC, Yawata, JFE, Chiba and NSSC, Hikari cut production= The crude stainless steel production by 7 major stainless steel mills in September 2013 was 290,806 tons, down by 5.4% from 307,523 tons of the prior month. - more

    Partners investing in Moa nickel joint venture - Amid stagnation caused by low nickel prices, Sherritt International Co. and Cuban state company Cubaníquel agreed to build a third acid treatment plant at the Moa nickel mining and processing joint venture. - more

    Australian Iron-Ore Tycoon's Next Bet is Nickel - Take an unloved commodity, land shunned by global mining companies, a large dollop of debt, and an optimistic view of Chinese demand. - more

    China's crude steel output up 8% in Jan-Sep - China, the world's largest steel producer, saw its output of crude steel rise 8% year on year to 587.38 million metric tons in the first nine months of this year, according to the latest statistics released by the National Development and Reform Commission. - more

  Morning Nickel Price Statistics & Figures

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

 October Archives


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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.

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