This
page is archived news covering the period of November 2013
If you are looking for current daily market news, please visit
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
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
(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)
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
(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)
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
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)
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
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)
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
(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.
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)
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
(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%.
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)
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
(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
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)
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
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)
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
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)
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
(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)
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
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)
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
(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
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)
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
(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
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)
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
(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
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)
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
(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)
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
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)
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
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)
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
(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)
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
(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)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.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!
Reports
Commodity/Economic Comments
Commodity
outlook for Nickel – global supply/demand trends, Peter Richardson,
Chief Metals Economist, Morgan Stanley -
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. -
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.-
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. -
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.
-
Morning Nickel
Price Statistics & Figures
(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. -
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
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. -
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. -
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. -
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.
-
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). -
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. -
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.”
-
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. -
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. -
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. -
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. -
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. -
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. -
Indian
ferrochrome makers queasy as China ups capacity - Through the years, China
has become the world's dominant producer and consumer of metals. -
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. -
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. -
