This
page is archived news covering the period of November 2014
If you are looking for current daily market news, please visit
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Wednesday, November 26
US markets
are closed on Thursday for the Thanksgiving holiday. Our next update will
be Monday, December 1st. Happy Thanksgiving and have a safe and relaxing
weekend.
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $7.47/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses came within sight of reaching a staggering
total, but set a new record high none the less. Stockpiles began the day
at 399,996 tonnes. On Feb 6, 2007, LME nickel stockpile totals bottomed out
at 2,982 tonnes. By March 2009, totals had risen to hit the 100,000 tonne
level. For 2010, levels would reach 166,476 tonnes, before falling back to
below 100,000 tonnes in 2011. In July of last year, totals would reach the
200,000 tonne level for the first time. The 300,000 tonne level was cracked
in June on this year. And now the 400,000 is merely four tonnes away. We
won't be posting again until next Mondays, so we will miss it, if this peak
is breached the next few days. The most recent bullish run that nickel prices
have taken, appears to be in trouble, having stalled out on Monday and Tuesday,
and sliding today.
Average price of cash nickel so far this month - $7.08/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) There is no timetable for launching China’s first nickel contract
on Shanghai Futures Exchange (SHFE), Shanghai Metals Market learns.
(SSY) Daily crude steel output at China Iron & Steel Association member
mills edged higher to 1.642 Mt in the period 11-20 November. This compares
with 1.635 Mt in the preceding 10 days, the lowest daily rate recorded this
year, according to Reuters.
HKEx to launch thermal coal contract early next year -
more
BHP misses
out to China's Jinchuan on nickel pact - BHP Billiton's struggling Nickel
West smelter in Australia lost out on a potential key supply source of nickel
when rival Jinchuan Group of China signed a purchase agreement with an Australian
miner. -
more
Baosteel Stainless
Steel Expects Nickel Price to Rise in 2015, SMM Interviews - Nickel price
is expected to rise in 2015, one senior analyst said at 2014 SMM China Metals
Summit on Nov. 23-24. -
more
Avebury
Nickel Mine owners on verge of metallurgical breakthrough - The company working
to reopen the mothballed Avebury Nickel Mine is on the cusp of a significant
metallurgical breakthrough. -
more
Glencore-Rio Tinto merger “will happen”: top U.K. banker - A deal
between commodity giants Glencore and Rio Tinto to create the world’s
largest mining group appears inevitable, sector-merger expert Ian Hannam
has said. -
more
TVI's
Philippine Affiliate JV To Ship Higher Grade Ore at Nickel DSO Operations
and Commences Resource Update Drill Program at the Agata Nickel Laterite
Project - TVI Pacific Inc. and TVI's Philippine affiliate, TVI Resource
Development, Inc., have announced that Agata Mining Ventures Inc. is modifying
its high-iron/low nickel direct shipping ore operations to include shipments
of ore containing higher nickel content to maximize revenues at the Agata
nickel laterite project located in northern Mindanao, the Philippines. -
more
Palmer's
'sham document' covered tracks - Clive Palmer knew he was misappropriating
$12 million from a Chinese company because he created a "sham document" to
cover his tracks, a court has heard. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, November 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $7.51/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading unchanged
, with other London
traded base metals trading mostly higher. Stockpiles of nickel stored in
LME approved warehouses rose to another record high on Monday, with totals
now reading 398,064 tonnes. Shanghai Metals Market data shows nickel
ore stockpiles at five major China ports totalled 15.36 million tonnes Monday
morning, a drop for the week of 263,000 tonnes, but still reading 78,000
tonnes higher than it did three weeks ago. We had to chuckle when we read
an article yesterday titled "Philippine Nickel Ore Drying Up", when weekly
statistics from China just don't bear this out. Maintenance workers have
decided not to strike at the Cerro Matoso ferronickel mine in Colombia. But
no, Indonesia did not change their mind overnight and the eleven month ore
ban remains in place. Metals are up on a stronger Euro today, and nickel's
weakness the last few days, shows that at least for the moment, the bull
has paused to catch its breath.
Average price of cash nickel so far this month - $7.06/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Steel inventories in the major cities of China fell to their lowest
level since early August 2009 at the end of last week, down 0.2 Mt week-on-week
to 9.8 Mt, according to data from U-metal. This compares with 13.5 Mt at
the same point in 2013.
China to See
Declines in NPI Output in 2015, SMM Predicts - Output of China’s NPI
is expected to fall to 350,000 tonnes ( nickel content) in 2015, Shanghai
Metals Market foresees. -
more
Stainless
steel traders' body seeks Prime Minister help to fight cheap imports - Delhi
Stainless Steel Trade Association, a traders' body representing the small
scale units operating in Delhi region has written to the Prime Minister of
India, urging him to take action against the surge in cheap imports from
China that has affected the domestic industry.-
more
Vale Iron-Ore
Head Martins Leaves as Price Collapses - Vale SA’s longest-serving executive
director, ferrous business head Jose Carlos Martins, is leaving the world’s
top iron-ore producer after prices for the steelmaking material fell to five-year
lows. -
more
Activists
denounce ‘savage mining’ in Manisa, as project could wipe out two
million trees - Activists, unions and opposition lawmakers have voiced their
outrage after Turkey’s Environment Ministry gave the go-ahead for a
nickel mine project that could lead to the felling of 2 million trees in
Çaldag(?, in the Aegean province of Manisa. -
more
(Courtesy AISI)
In the week ending November 22, 2014, domestic raw steel production was 1,882,000
net tons while the capability utilization rate was 78.2 percent. Production
was 1,826,000 net tons in the week ending November 22, 2013, while the capability
utilization then was 76.2 percent. The current week production represents
a 3.1 percent increase from the same period in the previous year. Production
for the week ending November 22, 2014 is up 1.5 percent from the previous
week ending November 15, 2014 when production was 1,854,000 net tons and
the rate of capability utilization was 77.1 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $7.50/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME approved warehouses rose to another record high on Friday and
start the week at 397,236 tonnes. Cancelled warrants bounced by nearly 3%
to 100,000 tonnes on Friday, the first time it has read over 25% since mid
September. Stockpiles have risen 6,804 tonnes in the last three sessions,
in the 13 prior sessions stockpiles had risen by 5,118 tonnes. A survey of
Chinese metal analysts show 60% show nickel prices will rise this week, while
nearly 35% believe prices will slide. We see $7.60/lb as strong resistance,
which could be possibly be tested this week.
Average price of cash nickel so far this month - $7.03/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) Nickel price may hit $23,000 per tonne [$10.43/lb] during the first
quarter of 2015, a high of the year, SMM's nickel analyst predicts at the
summit.
Iron ore's boom days are finished, says BHP Billiton chief -
more
China's surprise rate cut fuels hopes for more easing -
more
China Nickel
Imports and Exports Data October 2014 - The General Administration of China
Customs released data of China's October imports and exports of nickel on
Nov.21 (Unit: mt) -
more
International Ferro Furnaces Suspended In South Africa After Incident -
International Ferro Metals Ltd Monday said two of its ferrochrome furnaces
were suspended for three days by South African authorities following a health
and safety incident and said it will be arguing its case in court Monday
after authorities argued they have not made the necessary changes. -
more
Zimbabwe's
largest Nickel miner gets prescribed asset status - The Zimbabwean government
has granted the country's largest nickel mining company Bindura Nickel
Cooperation (BNC) a prescribed asset status for its 20 million U.S. dollar
bond with proceeds earmarked towards the restart of a smelter, state media
reported Monday. -
more
Axiom Mining
in negotiations for funding, offtake for Isabel Nickel Project - Axiom Mining
has revealed it is negotiations with debt and equity financiers and project
level joint venture partners to fund the development of the Isabel Nickel
Project in the Solomon Islands. -
more
Italy-based
steel manufacturer investing in Allen County - Valbruna Slater Stainless,
Inc., a stainless steel and nickel alloy manufacturer, announced plans today
to expand its operations here, creating up to 45 new jobs by 2017. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, November 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Thursday's trading session
at $7.41/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.09/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Thursday, and now
totals 394,770 tonnes. Nickel continues its bullish run today, with other
base metals joining after China cut interest rates to add some momentum to
their slowing economy. As the largest customer of nickel in the world, what
happens in China has a big effect on speculation surrounding nickel supply
and demand for 2015. Have a safe and relaxing weekend!
What we have
learned about the November nickel price bull run - The price of nickel
has been trending upwards since nickel went bullish on October 27th, although
the technical trendline remains neutral. So what changed? LME stockpiles
continue to grow, breaking new records nearly every day. China port stockpiles
of nickel ore remain fairly stabile - at least for the moment. Growth in
steel production in China continues to slump. Stainless steel production
around the world has seen better days. Yet more nickel is being produced
than ever before. So how do we explain this phenomenon? Come on, ess - your
readers need an answer. No longer will they accept 'stuff just happens',
they demand to know why, logic demands a reason. So we have done research
on this topic to give our readers the cutting edge and cynical
reasoning they have come to expect from us. We searched high and low
for the conspiracy behind the slump in nickel prices coming to a screeching
halt, and we have finally found the culprits. Yes culprits. Two of them.
No, it was not the opening of a nickel mine, nor the threat of a strike at
another. No, it was not Indonesia saying for the hundredth time that they
would keep their ore ban in place, nor was it the report of a thunderstorm
in the Philippines. No, what we have identified as the root cause, is far
more sinister, and yet, more obscure. It gathered little initial attention
- or so we thought. What did we learn in our thorough, sixteen minute long
research, that we now pass on to you free of charge? You can point the finger
at two men, Lachlan Shaw and Vivek Dhar. These two commodity analysts with
Commonwealth Bank on October 27th, when nickel was at its lowest price in
months, and all of the other metals analysts forecasts of doom and gloom
for 2015 were ringing loudly in our ears, had the gall to pontificate that
we might very well see a nickel surplus in 2015 and 2016. What? Surplus?
Not a huge deficit? Traitorous dribble! Analytical terrorism!
Surreptitious something or another! Who do these two think they are?
But the market has replied with a vengeance. Go ahead and make your little
estimates and try to confuse us all with reasoning and figures gentlemen.
We scoff at your efforts and quote Mark Twain, 'There are three kinds of
lies: lies, damned lies, and statistics". And thus - supply grows (but that
will change), and demand weakens (but that will change), and the price is
rising (and this is as it must be we are told). And the market leans back
in its big, easy chair, raises a skeptical eyebrow, glares down at these
market ruffians, and with a sneer, dares them to challenge the markets reasoning
again. And those of us who sit near the end of the stainless steel chain,
the ones who inevitably catch, and must pay, the effect of higher nickel
prices, cringe in anticipation of the next report these two might write and
hope it has a far less effect on the market. And finally, we of course are
joking and may Lachlan and Vivek continue to call it as they see it. Please
know we are all behind you. And I do mean - way, way, .......way behind you.
Average price of cash nickel so far this month - $7.00/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) According to the forecast of Citi Group, which was broadcasted yesterday,
the deficit of nickel this year would be 62,400 tonnes, at the same time
the deficit in the year next would be much more at103,000 tonnes. The bank
further asserted that, the nickel inventories in China, all are dried up,
with the supply from the Philippines has also declined.
Iron Ore Completes Fifth Weekly Loss as ‘Worst Is Yet to Come’
-
more
'Immoral, but not illegal': metal warehousing games in the spotlight - Complex
deals employed by Goldman Sachs' (GS.N) metals storage unit to build vast
stockpiles and then maintain queues test the spirit of the London Metal Exchange
operating code, shocking many traders and confirming others' suspicions.
-
more
Chinese nickel
pig iron prices continue to rise on tight supply - Spot prices of high-grade
nickel pig iron (10-15% Ni) in China continued to rise this week to Yuan
1,000-1,050/nickel unit ($163-171/unit) delivered with 17% VAT included on
Thursday on tight supply, sources said. -
more
Japan's November
stainless steel output to fall on turnaround, output cut - Japan's production
of stainless steel is expected to fall in November on a major plant turnaround
and output cut following a fall in demand, market sources said Friday, November
21. -
more
Operating
capacity of stainless steel mills slumps 55% on huge Chinese imports - The
operating capacity of India's stainless steel (SS) mills has declined to
the alarmingly low level of 55% due to cheap imports from China and other
Free Trade Agreement (FTA) countries amid weak demand.
- more
Bank cuts
nickel price forecast on rising output of alternative metal - Goldman Sachs
has cut its nickel price forecast for next year by 20% because of sustained
production of a lower-grade alternative in China. -
more
Why mining
companies might be the Arctic’s best hope - Economic interests are set
to play an increasingly important role in shaping development in the Arctic.
Yet prominent members of the mining industry, familiar with the economic
and reputational perils of impatient investment, remain cautious. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, November 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $7.30/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals mostly lower. Stockpiles of nickel stored in LME
licensed warehouses, rose at their largest single day gain since early October,
and set a new record high at 393,324 tonnes. Nickel continues its bullish
November run and with the volatility, comes a surge in readership.
While this site has its daily readers, when nickel prices start moving upwards,
we see a surge in visitors searching the internet for explanations on why
and crystal ball predictions of where it is heading. And while our crystal
ball has been cloudy ever since we got it, and we dismiss most moves in the
price as technical and without clear and concise reasoning, we have been
researching this November run and believe we have found the smoking gun on
what is causing it. It's not something you will read anywhere else, and you
will have to come back tomorrow to find out why.
Average price of cash nickel so far this month - $6.97/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) China produced 16.02 million tonnes of crude stainless steel during
the first nine months of 2014, up 2.38 million tonnes or 17.44% year-on-year,
local media reported.
(MP) Molybdenum prices forecast to reach $12/lb in 2015
Iron Ore’s Massive Expansion Era Is Finished, Mining Giant Says -
more
Nickel And
Chrome Ore Price To Increase In 2015 - According to Albanian Minerals President
and CEO Sahit Muja, A sharp fall on the nickel output can be expected in
2015 due to the depletion of reserves in Indonesian and limited new reserves
open to markets globally. -
more
Outlook
for Global Base Metals Industry Remains Stable: Moody's - Moody's Investors
Service on Tuesday forecast a stable outlook for the global base metals industry.
-
more
Excess Stainless
Steel Prompts China to Dump Steel to International Mark - In response to
the dramatic slowdown in the demand for stainless steel in China's construction
industry, China's biggest steel producers started exporting steel to the
international market in humongous proportions. -
more
Stainless steel scrap in a deep depression - Global: Recent weeks have brought
further steep declines in stainless steel scrap prices amid some of the toughest
market conditions seen in a long time. -
more
Nickel
Roller Coaster Ride Over - The price of nickel, which is used in the making
of stainless steel, has been on a roller coaster ride in 2014. -
more
Vale, province
celebrate first production at new nickel plant in Long Harbour - Employees
working at the new multi-billion-dollar nickel processing plant in Long Harbour
were eager to show off their workplace Wednesday during a ceremony to celebrate
the start of production at the massive new complex. -
more
Banks
Had Unfair Advantage From Commodity Units: Senator - Wall Street’s biggest
banks have used their ownership of metals warehouses, oil tankers and other
commodities businesses to gain unfair trading advantages and dominate markets,
according to a U.S. Senate investigation. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, November 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $7.09/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.09/lb
higher, with other
London trade base metals trading mixed and quieter. Stockpiles of nickel
stored in LME licensed warehouses rose for a fifth consecutive day and thus
set a new all time record high of 390,432 tonnes. Nickel is up today and
lets see what the press says is the reason. Here it is - Indonesia confirms
that the ban they started in January, and have confirmed numerous times since
will remain in place, once again, confirmed the ban will remain in place.
Yes, I understand the logic of this. Kind of like explaining a market
move by announcing "Former Fed Chairman Ben Bernanke retains the title of
Former Fed Chairman". Nickel is moving higher because the bulls are gaining
momentum, who either hold a firm belief that nickel will enter a deficit
situation sooner rather than later, and they hope to profit by that, or they
are seeing another market move to the upside and don't want to be left behind.
Either way, cash nickel, which averaged $7.15/lb last month, has averaged
$6.96/lb so far this month.
Average price of cash nickel so far this month - $6.96/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Neste Jacobs Selected to Implement Norilsk Nickel LNG Station in Harjavalta,
Finland -
more
China's Crude
Steel Production in Oct Falls to 67,520 t/t for 2 Mos. in Row - According
to the announcement on 13th by the National Bureau of Statistics of China,
China's production quantity of crude steel in October was 67,520 thousand
tons (abbreviated as t/t), down 20 t/t from the previous month. Its production
quantity per day in October was 2,178 t/t, largely down 80 t/t from 2,250
t/t in September. -
more
Moody’s
sees further pressure for base metals - Base metal prices are unlikely to
recover within the next 12-18 months, Moody’s Investors Service says.
-
more
Koniambo
Nickel mine in New Caledonia officially opened by French President - Operations
have started at the $7bn Koniambo Nickel project (Koniambo) in New Caledonia
has started operation, which is jointly owned by Switzerland-based mining
firm Glencore and Société Minière du Sud Pacifique (SMSP).
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, November 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $7.16/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new record high on Monday and your new
record high is 390,198 tonnes. Nickel rose yesterday afternoon after European
Central Bank’s Mario Draghi hinted that further QE purchasing measures
could include government bonds. European markets like to hear about possible
stimulus measures and rose sharply. Nickel continues to follow the Euro,
which jumped on the stimulus hint, but is trading lower this morning. The
world welcomes a new mega nickel mine today, with the official opening of
the Koniambo complex in New Caledonia. SteelFirst is reporting steel production
in China continues to slide. Workers at the Cerro Matoso nickel mine in Colombia
are scheduled to meet November 21st to discuss possible strike plans.
Average price of cash nickel so far this month - $6.94/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nicholas Snowdon, metals analyst at Standard Chartered quoted in Reuters
11/17/14 - "We've certainly heard that ore exports have dropped sharply in
November so far from the Philippines," said Snowdon, who forecasts an average
LME nickel price of $23,400 next year [$10.61/lb]. "The main concern right
now is the moderation in the Chinese stainless steel sector ... until that
starts to turn around, that will be a constraint on the pace of tightening
in the Chinese nickel market."
(SSY) Daily crude steel output at China Iron & Steel Association member
mills declined to 1.635 Mt in the first 10 days of November, down from 1.665
Mt in the last 11 days of October, according to data from the industry body
reported by SteelFirst.
Record Chinese steel exports risk global trade war -
more
RusAl Unveils New CEO as Oleg Deripaska Named Company President -
more
El Nino Warning Raised by Australia as Tropical Pacific Sizzles -
more
Tropical Pacific Ocean moves closer to El Niño -
more
Glencore,
French open $7bn nickel mine in New Caledonia - French President François
Hollande on Monday officially opened the new $7-billion Koniambo nickel project
in New Caledonia, a territory of France that is located 1 210 km east of
Australia, in the south-west Pacific Ocean. -
more
Japan's CR
Stainless Steel Mills Hold Out at $2,500 FOB - In the Asian region, Korean
and Taiwanese mills seem to be proceeding with negotiations on cold-rolled
(CR) austenitic stainless steel sheets at $2,500 CFR and at the time of a
contract, such case seems to be increasing that they reduce their prices
slightly to the level of $2,400 CFR. -
more
Govt
likely to continue talks on mining rights - The government looks set to continue
the process of renewing mineral and coal contracts of work, which is still
in progress. -
more
Lundin's Eagle
mine in Michigan producing, shipping nickel and copper - Canada's Lundin
Mining is entering the ramp-up phase at its new Eagle nickel and copper mine,
which has begun shipments after starting production in late September in
Michigan's Upper Peninsula, according to a company spokesman. -
more
Controversial U.P. mine seeking new lease on state land near Yellow Dog River
-
more
Mining
chamber cites benefits of China free trade deal - The South Australian Chamber
of Mining and Energy (SACOME) says the signing of yesterday's free trade
agreement (FTA) with China should help generate local investment. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $7.07/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses rose to a another record high on Friday,
and now total 389,766 tonnes. Shanghai Metal Markets reports nickel ore
inventories at five top Chinese ports slipped from 15.64 million tonnes to
15.62 million tonnes. A weekly poll taken among Chinese metal analysts show
85% believe nickel prices will fall this week. Possible labor problems at
the Cerro Matoso nickel mine in Colombia are being credited with giving nickel
a boost on Friday, but we feel the $7/lb level is giving the bulls a support
line, with the bears using it as a line of resistance. Buckle up and stay
tuned.
Average price of cash nickel so far this month - $6.93/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Vale Iron-Ore Head Martins Leaves as Price Collapses -
more
French
President to inaugurate nickel plant - The French President, Francois Hollande,
is due in New Caledonia's north on Monday to inaugurate a nickel plant before
he returns to Noumea to meet political leaders. -
more
Nickel And
Chrome Ore Price To Increase In 2015 - According to Albanian Minerals President
and CEO Sahit Muja, A sharp fall on the nickel output can be expected in
2015 due to the depletion of reserves in Indonesian and limited new reserves
open to markets globally. -
more
What’s
Next for BHP Billiton’s Nickel West? - In a move that some believe was
inevitable, BHP Billiton announced last Wednesday that it has abandoned plans
to sell its Western Australian Nickel West business. Instead it will keep
it in its portfolio as a non-core asset. -
more
Mining
operations at Talvivaara to continue, ministers assure - High-powered ministers
delivered an important message to the residents of Kainuu while visiting
the trouble-plagued nickel mine of Talvivaara in Sotkamo on Friday: the
operations of the mine will continue. -
more
Major private
steel company files for bankruptcy protection - Haixin Iron and Steel Group,
the largest private iron and steel enterprise in Shanxi province, has started
bankruptcy reorganization procedures, according to a local court on Monday.
-
more
First
Chemical Tanker to Use Combination of Duplex Stainless Steel and Stainless
Clad Steel Delivered - The world’s first chemical tanker to use a
combination of duplex stainless steel and stainless clad steel in the
construction of its cargo tanks was successfully delivered to Oita-based
Hiro Naviera S.A. (President: Tomonori Yoshimura) on 15 November 2014 by
Usuki Shipyard Co., Ltd (President: Jiro Kadota). -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, November 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Thursday's trading session
at $6.95/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading quietly and mixed. Stockpiles of nickel
stored in LME licensed warehouses rose to a new record high, but just barely,
with a total of 389,370 tonnes. The most recent bullish run for nickel fell
apart yesterday afternoon and fell back below $7/lb. Economic news from Europe
was positive, with Greece exiting recession and the Euro GDP coming in better
than expected. Still a long way to go but a good day. News from China wasn't
as good and concerns that China's GDP expectations may be lowered further
keep stimulus hopes alive. For inventory watchers, the average daily growth
rate in stockpiles continues to fall with today's readings. Macquarie is
warning its Commodities Research report today, that when these stockpiles
begin to fall, we could see some speculative re-stocking by stainless steel
producers and consumers, with another large increase in price to follow.
Have a safe and restful weekend.
Average price of cash nickel so far this month - $6.93/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) Indian stainless steel operating capacity down to 50%
(SMM) Jinchuan Group cut its ex-works prices to 104,300yuan per tonne on
Nov. 14, down 1,500 yuan per tonne, Shanghai Metals Market learns.
Outotec to modernize BCL nickel smelter in Botswana -
more
U.S. Fastener Imports and Exports in September -
more
Next nickel
boom may not be too far away: Macquarie - Extreme destocking is now prevalent
from nickel ore to stainless steel, and once nickel metal and ore, and stainless
steel prices are perceived to have bottomed, there could be another rush
to buy, Macquarie Commodities Research said in a report Friday. -
more
Oil, other
commodities will be in the dumps for another decade - Remember the commodities
supercycle, that seemingly endless 2000s commodities boom? -
more
China
ferrochrome: Charge chrome import price edges up to 78-80 cents/lb - Platts
assessed the spot price of South Africa-origin charge chrome (48-52% Cr)
at 78-80 cents/lb CIF China on Friday, November 14, up from 77-80 cents/lb
CIF a week ago, amid improved sentiment. -
more
TVI's
Philippine Affiliate JV Completes Second Shipment of Nickel Ore at Agata
Project - TVI Pacific Inc. and TVI's Philippine affiliate, TVI Resource
Development, Inc., are pleased to announce that Agata Mining Ventures Inc.
, a joint venture company in which TVIRD holds a 60% interest and is the
operator, has completed its second shipment of high-iron/low nickel direct
shipping ore produced from the Agata project located in northern Mindanao,
the Philippines. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, November 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $7.06/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME licensed warehouses rose on Wednesday, but not enough to set
a new record, and now total just shy of the 389,150 tonne level. Nickel continues
its technical bounce and only time will tell if it has any staying power.
A bounce in the Euro on Friday helped start this bullish run, with a potential
strike in Colombia and hopes for further economic stimulus measures helping
to keep the pot stirred. The activity this month in the LME warehouses has
been interesting, and this week is raising a few eyebrows. Over the past
seven business days, stockpiles have risen by 3,776, which avenges out to
be a net gain of 468 tonnes per day. That may seem like a lot, but last month,
the daily gain averaged 1090 tonnes. In September, the average gain was 1,235
tonnes. Are we seeing a turnaround in stockpile growth and the tipping point
in the supply/demand balance that analysts have been predicting for nearly
a year now? Too early to tell for sure, but the numbers are interesting to
watch.
Average price of cash nickel so far this month - $6.91/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
LME losing ground in battle for Asian copper as Chinese turn to CME -
more
In Reuters
most recent poll of metals analysts, the forecasted nickel price for 2015
ranged from a low of $7.67/lb to a high of $11.50/lb. The median was $9.15/lb.
Analysts were also asked to predict the supply balance for 2015 and nickel
guesses went form an 8000 tonne surplus to a 150,000 tonne deficit. The mean
estimate was at a 98,113 tonne deficit.
BHP to
shut Venus project, once seen as central to its Nickel West - BHP Billiton
is to shut down its once-promising Venus nickel project in Australia following
an aborted attempt to sell its Nickel West division, citing competition for
capital from its other divisions. -
more
BHP to cut 90 jobs from Nickel West - Mining giant BHP Billiton will cut
90 jobs from its Nickel West business in Western Australia. -
more
BHP chasing
ore supply after keeping nickel division-sources - BHP Billiton is redoubling
its efforts to secure supplies to feed its Australian Nickel West division,
industry sources said, after it rejected offers to sell the business. -
more
Iron Ore Mine
Closures May Lead to $70 Floor Price, ANZ Says - Iron ore mines in China
will close down should prices drop toward $70 a metric ton, potentially creating
a base for prices of the steel-making raw material, according to Australia
& New Zealand Banking Group Ltd. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, November 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $7.01/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses slipped for a second day and now total just over
the 388,750 tonne level. Reporters, always looking for a reason to explain
a move in commodities, are either crediting a second day of declines in LME
stockpile numbers or the potential strike in Colombia to explain the two
day rise in nickel prices. No one seems to be mentioning cancelled warrants,
the amount of that stored nickel that is committed, fell below the 22% level
yesterday, for the first time since October of last year. As far as the dispute
in Colombia, please see an article and our own research into the matter below.
It appears at the same time traders start getting nervous about a potential
supply disruption into a market in surplus, that surplus made it difficult
for BHP to unload their Nickel West operation and thus they pulled it off
the market and announced they will double down their efforts to make it a
profitable operation. That sounds like more nickel for the market - an
announcement made with some determination, while the news from Colombia is
at this moment, a potential disruption. So let's see if we get this right?
BHP is announcing they are pulling one of their larger nickel mines off the
'for sale' market and will secure more ore to produce - more nickel. At the
same time, maintenance workers at Cerro Matoso threaten to go on strike,
potentially causing a temporary disruption meaning - jack at this point.
And this is the reason nickel prices are rising? These reporters really need
to give it up. Most of the time, the market does what it wants to do and
doesn't need a good explanation. Base metals are trading higher for the last
two days across the board, and zinc traders don't care what's happening in
Colombia or Australia.
Average price of cash nickel so far this month - $6.89/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SM) Boliden’s new nickel smelting unit will mainly concentrate on buying
the nickel concentrates from the suppliers out of the company, as well as
to sell the nickel matte, to the nickel refineries, which will refine and
use them. The estimates show that, the annual production will remain to be
25,000 tonnes of nickel in the form of matte.
The NFIB Small Business Optimism Index crept back to its August level of
96.1 with a gain of 0.8 points led by a modest increase in the net percent
of owners who plan to increase capital spending and more who expect higher
sales in the next 3 months. -
more
Threat
of Colombian mine strike boosts nickel - Nickel rose for the first time in
three sessions as workers at a BHP Billiton Plc. mine in Colombia threatened
to go on strike, spurring supply concerns. -
more(our research- According to El Tiempo, a Colombia
newspaper, BHP has changed working hours for the maintenance workers and
this has led to a dispute between the union and company officials at the
Cerro Matoso mine near Montelibano, Colombia. Maintenance workers have been
working five 8 hours day shifts, then five 8 hours swing shifts, then five
eight hours graveyard shifts, followed by five days off. The new shifts,
according to the paper, are two twelve hour shifts, followed by fifty
two hours off (2 days plus 4 hours), then repeat. The union is opposed to
the change and so far, the Ministry of Labour has taken the stance that this
is a discretionary decision left to the company. Cerro Matoso is reportedly
the second largest producer if ferronickel in the world according to the
company website and produces approximately 50,00 tonnes of nickel
annually)
Nickel’s Waning Price Boom Leaves BHP With Unwanted Mines - The failure
to find a buyer for its Australian nickel business has left BHP Billiton
Ltd. (BHP) with unwanted smelters and pits after the collapse of a price
boom. -
more
Production
Plan for Special Steel Products in Oct-Dec 2014 Is 5.415 Mil. Tons = High
level following prior period, and up by 7% from year-earlier period = On
November 4, the 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 2014, which shows the production plan for special steel products
in the period from October to December is 5.4154 million tons whose breakdown
is 3.4202 million tons for domestic consumption and 1.9951 million tons for
international export. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, November 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $6.91/lb
. Indicators
at 6:30 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 slipped
for the first time this month and now total just under the 388,900 tonne
level. Nickel is nearing the psychologically important $15,000 tonne level,
where it bounced higher from earlier this month. If this level is breached,
we look to $6.62/lb for major support. Industry news remains muted, with
some looking to the iron ore market for clues o what is happening in China.
If this is true, then we could be in trouble, as iron ore prices continue
to tumble. We are still watching Europe and any stimulus announcement from
the ECB that may or may not be coming, and the effect any such news might
have on the Euro. Until the Euro starts to regain some strength, we seriously
doubt nickel will find its footing.
Average price of cash nickel so far this month - $6.90/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SA) According to SpetsStal's latest appraisal, the volume of Russian stainless
steel exports from Jan to Sep 2014, if compared to the equal period of 2013,
fell 65.3% to 6,927 tons.
(SA) According to SpetsStal's estimate, the aggregate volume of imported
stainless steel products from Jan to Sep 2014, if compared to the equal period
of 2013, rose +2.3% to 190,520
tons.(source)
SocGen lowers annual average nickel price forecast for 2014 to $18,000 /tonne
($8.16/lb) and 2015 to $24,000/tonne ($10.89/lb)
West Coast port dispute threatens to derail holiday season -
more
Norilsk
Nickel reduces 9-month nickel output by 5.65% to 199.849 thousand t - OJSC
MMC Norilsk Nickel reduced the 9-month nickel production by 5.65% to 199.849
thousand tonnes from 211.807 thousand tonnes the year before, the company
informed. -
more
Nickel Roller
Coaster Ride Over - The price of nickel, which is used in the making of stainless
steel, has been on a roller coaster ride in 2014. -
more
Sudbury
should stack up just fine minus landmark - It felt like a punch in the gut
when Vale vice-president Kelly Strong dropped the bombshell last week the
mining company was analyzing tearing down its Superstack. -
more
Iron Ore Seen
by Citigroup Below $60 as 2015 Forecast Cut - Iron ore prices will plummet
to less than $60 a metric ton next year as global supply increases and demand
remains weak, according to Citigroup Inc., which slashed its quarterly forecasts
for 2015 by as much as 23 percent.
- more
Mining
and indigenous peoples - The International Council on Metals and the Environment
has published this document as part of its ongoing efforts to provide information
on environmental, health and related matters affecting the metals mining
and producing industry. -
more
Courtesy AISI
- In the week ending November 8, 2014, domestic raw steel production was
1,839,000 net tons while the capability utilization rate was 76.5 percent.
Production was 1,826,000 net tons in the week ending November 8, 2013, while
the capability utilization then was 76.2 percent. The current week production
represents a 0.7 percent increase from the same period in the previous year.
Production for the week ending November 8, 2014 is up 1.3 percent from the
previous week ending November 1, 2014 when production was 1,815,000 net tons
and the rate of capability utilization was 75.5 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $6.99/lb
Indicators
at 6:30 am CST today show 3 month nickel trading around $.10/lb
lower, with other
London traded base metals trading mostly lower. Stockpiles of nickel stored
in LME licensed warehouses continue to climb, rising to another record
level on Friday of 389,334 tonnes. Even in China, where the monsoon season
in the Philippines was expected to slow ore imports, saw an increase last
week. SMM reports ore stockpiles at China's five top ports grew by 400,000
tonnes to 15.64 million tonnes. SMM reported the five ports held 18.93 million
tonnes on January 1st, and were at 13.43 million tonnes six months ago today.
A weekly poll of China metal analysts put the forecasters near a 50-50 split
on whether the price of nickel will rise or decrease this week. In our opinion,
if you want to know where nickel prices are heading, pay close attention
to the Euro. The Euro has been in a slow decline for about 5 months now.
Nickel prices have been in a slide for about five months now. Lots
of speculative talk about the potential of a stimulus announcement sometime
this week for the European Central Bank. If this happens, the Euro could
get a boost, and commodities could react likewise. It is all speculation,
but looking at inventory levels, one can find little to justify any increase
in the traded price.
Average price of cash nickel so far this month - $6.92/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SM) The latest statistics released by the US Department of Commerce (DOC)
indicates that the country’s Nickel scrap exports were down by 6.4%
in September ’14 when compared with the same month a year ago. The average
export price was also down when compared with the previous month
China steel and iron ore futures rebound after data, Xi comments -
more
European
stainless steel demand slows on weaker nickel, destocking - Whipsawing nickel
futures prices, which have been sold off sharply of late, are exacerbating
the impact of seasonal destocking in the European stainless steel market,
sources said this week. -
more
Stainless
Steel Mills Cut Ni SUS Scrap Price by JPY5,000 = Lowered to JPY165,000/ton
-JPY170,000/ton in Kanto as well as Kansai = Japanese Stainless Steel mills
cut their purchase prices of nickel-containing stainless steel scrap (SABOT)
by JPY5,000 per ton, which resulted in the November purchase price of
JPY165,000/ton - JPY170,000/ton (delivered at plant) prevailing . -
more
Raising import
duty on stainless steel FinMin call: Steel Min - The Steel Ministry has pitched
for a duty hike to safeguard domestic stainless steel industry from Chinese
imports, but a final call in this regard will be taken by the Finance Ministry.
-
more
Iron
Ore Seen Extending Slump by ANZ as Global Glut Doubles - Iron ore will extend
declines next year as a global glut more than doubles, according to Australia
& New Zealand Banking Group Ltd., which reduced its price forecasts through
2017. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, November 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Thursday's trading session
at $7.02/lb. Indicators at
6:30 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading mostly lower. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Thursday and now
totals 387,222 tonnes. Nickel has spent the week trading quietly, and unless
it pops much higher this afternoon, will close lower for the week; failing
to recover from a Tuesday drop. It's been a quiet week, a reflection of a
quiet and uneventful LME Week prior. We have nothing new to add so we close
the week by wishing you all an enjoyable and relaxing weekend, and invite
you to return next week.
Average price of cash nickel so far this month - $6.91/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Talvivaara's
nickel mining unit to apply for bankruptcy - Finnish nickel company Talvivaara
said a subsidiary that holds all of the group's mining assets will apply
for bankruptcy protection after failing to raise financing. -
more
Qld Health
to test dust from Clive Palmer's Townsville nickel refinery - The Department
of Environment has installed dust monitors near Clive Palmer's nickel refinery
in Townsville, after complaints from residents. -
more
China's
stockpiler far exceeds 2014 copper-buying plan - sources - China's commodity
stockpiler is likely to buy more than double the amount of copper it planned
for 2014 as the world's top consumer takes advantage of low prices in the
international market, but it has stuck to its target for refined nickel.
-
more
Sherritt
wins sustainable business award for Ambatovy project - Sherritt International
Corp. of Toronto has won the Nedbank Capital Sustainable Business Award in
the resources and non-renewable energy category for its biodiversity program
at the Ambatovy nickel joint venture. -
more
Vale Says
Says Global Iron Ore Oversupply Won’t Last Forever - Iron ore prices
of $90 to $100 a metric ton are sustainable over the long term, according
to Vale SA, which predicts that some producers that started output when prices
were much higher won’t be able to survive the slump. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, November 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $6.96/lb. Indicators at
6:30 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mostly lower Stockpiles of nickel rose
on Wednesday, and with nearly any rise, comes a new all time record high.
Today's new record totals 386,118 tonnes. Nickel has been trending higher
for most of today's morning session, and has started afternoon trading by
giving up some of its earlier gains. It is interesting to note that we have
the average price of nickel trading at $6.80/lb during 2013, and has averaged
$6.91/lb so far this month, after averaging $7.15/lb last month.
Average price of cash nickel so far this month - $6.91/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Triland Metals) Iron ore, crude, precious metals are hitting five year low
so it should be no surprise that nickel is also starting to look tired already
after its tentative bounce towards $16,000.
(SSY) Daily crude steel output at China Iron & Steel Association member
mills continued to fall in the last 11 days of October, dropping to 1.631
Mt, down from 1.763 Mt in mid-October and 1.804 in the first 10 days of the
month, according to data from the industry body reported by SteelFirst.
Election Must Bring Economic Certainty Says Metals Service Center Institute
-
more
Inquiries
of CR Stainless Sheets from Asia Stop - Inquiries to the Japanese cold-rolled
(CR) stainless steel mills have stopped for shipments of November/December.
Orders of not only austenitic stainless products to SUS304 but also SUS316
have not been placed due to a price drop of molybdenum. -
more
Call
to shore up New Caledonia nickel production - A leading figure in New
Caledonia’s nickel sector has warned against possible outside predators
in the industry, which is the territory’s economic backbone. -
more
An interesting piece of history - read an article from the New York
Times January 31, 1925 which may be the first time American's heard of this
new metal called 'stainless steel '-
here
Port
Hedland Engineers to Strike, Risking Iron Shipments - Tugboat engineers at
Australia’s Port Hedland will strike next week, risking disruption to
iron ore shipments through the world’s largest bulk export terminal.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, November 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $6.91/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
lower, but is trading
off earlier lows. Other London traded base metals are trading lower as well.
Stockpiles of nickel stored in LME approved warehouses went unchanged on
Tuesday, and remain at yesterday's record level. Look to $6.80/lb for
psychological support, and $6.67/lb for strong technical support. The short
term trend remains negative, while the long term has turned neutral.
Average price of cash nickel so far this month - $6.97/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Standard Chartered Commodity Alert 10/28/14) Most of the focus in 2014 has
been on the supply and inventory side of the nickel market. LME Week was
significant for nickel to the extent that there was much greater focus on
the apparent weakness developing in China’s stainless steel sector.
This sector has been hit hard by credit rationing. This has resulted in lower
stainless production growth (4% y/y in August-September versus 13% y/y in
January-July) and a push to sell off product inventories built over the first
half of this year. This has fed into falling stainless prices in China and
a sharp increase in stainless steel exports. We believe this destocking phase
will mature over the remainder of this year but is likely to weigh on demand
for nickel – whether NPI, intermediate or refined – during Q4.
(source)
(Handelsbanken Trading Strategy 10/22/14) This is undoubtedly the metal where
participants had the greatest belief in higher prices ahead of 2015. Underlying
fundamentals have deteriorated during the year, and knowledge is starting
to spread of the Philippines’ seasonal export pattern, which has compensated
for Indonesia’s export ban so far. Everyone is expecting the nickel
market to be in a deficit next year and that inventory levels will be consumed
to balance the market. Higher price estimates are one theme, and our scenario
of an average price of USD 23,000/tonne is certainly a large movement but
is finding relatively good acceptance. In our view, nickel is the only base
metal where there is a risk of the price rising by more than 50% in 2015
from current levels.
(source)
(Reuters Inside Metals 10/27/14) Nickel remains the collective bull favourite,
despite or maybe because of the collapse of this year's early rally. The
Macquarie audience's average view was for a run-up to $19,859 per tonne from
Monday's $15,315. Nickel was picked as the metal to watch by both Macquarie
analyst Jim Lennon and by Paul Gait, analyst at Sanford C. Bernstein, at
the Bloomberg seminar. Robin Bhar, analyst at Societe Generale, went for
lead and tin. Gayle Berry of Jefferies went for spreads in general rather
than a specific metal.
(source)
(Twitter) CRU expects global market deficits to continue in Zinc and to appear
in Nickel from 2015
Iron Drops to Lowest Since 2009 as APEC Curbs Dent Demand -
more
Iron ore prices decline as Apec curbs stunt demand in China -
more
El Nino Seen Nearing Thresholds as Pacific Ocean Gets Warmer -
more
Warm tropical Pacific Ocean, but ENSO remains neutral -
more
U.S. Fastener Imports and Exports both Drop in August -
more
The International Stainless Steel Forum (ISSF) has launched a new publication
on Stainless Steel in Drinking Water Supply. The brochure can be downloaded
for free from the worldstainless website.
pdf here
China
Ferrochrome: Rollover of November purchase prices, output cuts support spot
market - Domestic spot prices of 50% Cr Chinese high-carbon ferrochrome were
unchanged week on week at Yuan 6,200-6,400/mt (equivalent to 76-79 cents/lb)
on Wednesday, November 5, on support from rollovers of November purchase
prices by major local stainless steelmakers and production cuts in the country.
-
more
Call
to shore up New Caledonia nickel production - A leading figure in New Caledonia's
nickel sector has warned against possible outside predators in the industry,
which is the territory's economic backbone. -
more
Ramu ramps
up - The Ramu nickel-cobalt project in Papua New Guinea is continuing to
ramp up to full production with an average production rate of 77% of nameplate
rate achieved for the September quarter. -
more
In the
Food Plant: Danger of Corrosion when Welding Stainless Steel - Manufacturers
and users of food processing equipment have long believed that so-called
‘stainless steel’ is indeed stainless. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, November 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $7.15/lb. Indicators at
6:30 am CST today show 3 month nickel trading around $.20/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Monday and now
stand at 385,860 tonnes. It is shaping up to be another brutal day for
commodities, and in our opinion, the continuing fall in oil prices is making
long term investors eye commodities nervously. Nickel is getting hit especially
hard this morning, down nearly 2-1/2%. We are starting to see a deep divide
form among metals analysts. The majority still feel we will see a nickel
market in deficit in 2015, but a growing minority feel the nickel ore from
the Philippines will be sufficient to cover the needs of a slowing China
in 2015. And in our opinion, a lot depends on the growth, or lack thereof,
we see in China in coming years. World economies, including the US, which
is apparently one of the better presently, seem to be like a sailboat stuck
in a windless ocean. Without the governments rowing the boat with stimulation,
forward momentum would be nullified. Look to Europe and China for more
stimulation measures in the near future. We are still above October lows
and well above the $14.700 tonne low point of that month.
Average price of cash nickel so far this month - $7.06/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Yieh) Yieh United Steel Corporation, the largest integrated stainless steel
mill in Southeast Asia, has announced to cut its domestic prices for stainless
steel products for November.
(SSY) The official October Purchasing Managers Index gauging factory activity
dipped to a five-month low of 50.8, falling below analysts average expectations
of 51.2, Reuters reports. The index reading for new export orders fell to
49.9, below the threshold of 50, indicating a contracting in activity. Meanwhile,
the PMI for the country's iron and steel sector produced by the China Federation
of Logistics and Purchasing registered a reading of 46. The index for domestic
steel production dropped to 42.2, down 3.7 points from September. This marks
the lowest reading in seven months, Xinhua news agency comments.
Can nickel recover from its spectacular boom and bust?: Andy Home - Nickel's
recent fall from grace has been as spectacular as its earlier rise.-
more
Global
Stainless Steel Output in 2014 To be Another Record High - World crude stainless
steel production is predicted to reach an all-time high of 41 million tonnes
in calendar year 2014. This represents a 7.8 percent increase on the previous
record figure, set last year. -
more
Prices
of CR Austenitic Stainless Sheets in Asia Fall to $2,500 CFR Level - Prices
of cold-rolled (CR) austenitic stainless steel sheets in the Asian region
go on falling after the holiday of the Anniversary of the Founding of China
and seem to be the level of $2,550 CFR at present. -
more
Glencore
ferrochrome production up as Lion II roars in Mpumalanga - The South
Africa-centred ferrochrome production of diversified miner Glencore lifted
appreciably in the third quarter due to the roar of its low-energy Lion II
ramp-up in Mpumalanga. -
more
Courtesy AISI
- In the week ending November 1, 2014, domestic raw steel production was
1,815,000 net tons while the capability utilization rate was 75.5 percent.
Production was 1,832,000 net tons in the week ending November 1, 2013, while
the capability utilization then was 76.5 percent. The current week production
represents a 0.9 percent decrease from the same period in the previous year.
Production for the week ending November 1, 2014 is down 1.1 percent from
the previous week ending October 25, 2014 when production was 1,835,000 net
tons and the rate of capability utilization was 76.3 percent.
Sudbury's
Superstack could be coming down: Vale - A Sudbury landmark, rated 10 out
of 45 attractions to see in the Nickel City, could be coming down, depending
upon the result of an analysis by Vale Ltd. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $7.14/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around where it opened,
with little change, and other London traded base metals are trading mixed
and quiet as well. Stockpiles of nickel stored in LME approved warehouses
ended October as the began, and we begin November with a new record high
stockpile total of 385,314 tonnes. SMM reports nickel ore stockpiles held
at the China's top five ports fell by 310,000 tonnes last week to 15.24 million
tonnes. Chinese stockpiles remain higher than they were in September, and
we could be seeing the effects of monsoon rains in the Philippines slowing
exports from that country. Price wise, nickel has done little since last
Tuesday's jump, and while its daily range has been up to $900/tonne, the
closing price has fell within a much tighter range. Seven out of ten Chinese
metal analysts who participate in a weekly Chinese poll, are forecasting
the price of nickel to drop this week. China's manufacturing PMI remains
positive, but fell to 50.8 from October's 51.1. US readings will be released
later today.
Average price of cash nickel so far this month - N/A
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MW) Commonwealth Bank of Australia analyst Lachlan Shaw has cut his nickel
price forecast for 2016 - about the time Axiom could be shipping its first
ore - by 3.6%, but still sees the metal averaging $8.62 a pound ($19 007/t).
(MJ) Hardly any new nickel smelters are being built by Chinese operators
in Indonesia, raising the spectre of supply shortages for Chinese stainless
steel producers and a price spike to US$20,000/t, research firm Wood Mackenzie
told Mining Journal.
(SSY) In its latest market outlook report, the European Steel Association,
has cut its forecast for apparent steel consumption growth in the EU this
year to 2.6% from its July's forecast of 3.7%, while the forecast for next
year is also revised down to 2.4% from 2.9%.
(MP) China nickel ore imports down 30.41pc in September 2014
Slower growth in China's building materials sector -
more
China GDP forecast to hit 24-year low of 7.4pc -
more
Stainless
steel makers in a fix over rising imports: ISSDA - With capacity utilisation
falling to just around 50-55 per cent, domestic stainless steel makers are
a worried lot over rising imports from China, Japan and Korea, an industry
body said today. -
more
Nickel price
to remain buoyant; producers - Nickel producers believe the price of the
commodity will remain buoyant despite recent volatility. -
more
New
Caledonia uproar over mine deal probe - The new president of New Caledonia's
southern province, Philippe Michel, may bring a defamation case after an
inquiry into a nickel ore deal was cut short amid allegations of fake documents.
-
more
CISA denies
steel dumping accusations - The price of steel exported from China is in
a reasonable range and the export ratio of the total volume of China's steel
production is not high, an industrial association said Wednesday, denying
criticism that Chinese firms export steel at cheap prices that disrupt global
markets. -
more
Vale
Indonesia Profit Surges 175 Percent in First 9 Months - Profit at Vale Indonesia,
the local unit of Brazilian mining giant Vale, climbed by 175 percent in
the first nine months of this year from the same period last year, due largely
to the higher selling price of nickel and lower cost of revenue, the company
said in a statement on Friday. -
more
No transparency
on Ramu mine dumping impacts - The Department of Environment and Conservation
officials spent two days in villages adjacent to the Ramu NiCo Basamuk Refinery
site to communicate the important findings of the deep sea tailings placement
(DSTP). -
more
Zimbabwe
needs to clarify its black ownership laws - IMF - Zimbabwe must provide more
clarity on its black empowerment laws to investors and relax labour laws
in order to restore confidence in the economy, newly appointed IMF Resident
Representative Christian Beddies said. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"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.
US markets
are closed on Thursday for the Thanksgiving holiday. Our next update will
be Monday, December 1st. Happy Thanksgiving and have a safe and relaxing
weekend.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.09/lb
Reports
Commodity/Economic Comments
BHP misses
out to China's Jinchuan on nickel pact - BHP Billiton's struggling Nickel
West smelter in Australia lost out on a potential key supply source of nickel
when rival Jinchuan Group of China signed a purchase agreement with an Australian
miner. -
Baosteel Stainless
Steel Expects Nickel Price to Rise in 2015, SMM Interviews - Nickel price
is expected to rise in 2015, one senior analyst said at 2014 SMM China Metals
Summit on Nov. 23-24. -
Glencore-Rio Tinto merger “will happen”: top U.K. banker - A deal
between commodity giants Glencore and Rio Tinto to create the world’s
largest mining group appears inevitable, sector-merger expert Ian Hannam
has said. -
TVI's
Philippine Affiliate JV To Ship Higher Grade Ore at Nickel DSO Operations
and Commences Resource Update Drill Program at the Agata Nickel Laterite
Project - TVI Pacific Inc. and TVI's Philippine affiliate, TVI Resource
Development, Inc., have announced that Agata Mining Ventures Inc. is modifying
its high-iron/low nickel direct shipping ore operations to include shipments
of ore containing higher nickel content to maximize revenues at the Agata
nickel laterite project located in northern Mindanao, the Philippines. -
Morning Nickel
Price Statistics & Figures
, with other London
traded base metals trading mostly higher. Stockpiles of nickel stored in
LME approved warehouses rose to another record high on Monday, with totals
now reading 398,064 tonnes. Shanghai Metals Market data shows nickel
ore stockpiles at five major China ports totalled 15.36 million tonnes Monday
morning, a drop for the week of 263,000 tonnes, but still reading 78,000
tonnes higher than it did three weeks ago. We had to chuckle when we read
an article yesterday titled "Philippine Nickel Ore Drying Up", when weekly
statistics from China just don't bear this out. Maintenance workers have
decided not to strike at the Cerro Matoso ferronickel mine in Colombia. But
no, Indonesia did not change their mind overnight and the eleven month ore
ban remains in place. Metals are up on a stronger Euro today, and nickel's
weakness the last few days, shows that at least for the moment, the bull
has paused to catch its breath.
Stainless
steel traders' body seeks Prime Minister help to fight cheap imports - Delhi
Stainless Steel Trade Association, a traders' body representing the small
scale units operating in Delhi region has written to the Prime Minister of
India, urging him to take action against the surge in cheap imports from
China that has affected the domestic industry.-
Vale Iron-Ore
Head Martins Leaves as Price Collapses - Vale SA’s longest-serving executive
director, ferrous business head Jose Carlos Martins, is leaving the world’s
top iron-ore producer after prices for the steelmaking material fell to five-year
lows. -
Activists
denounce ‘savage mining’ in Manisa, as project could wipe out two
million trees - Activists, unions and opposition lawmakers have voiced their
outrage after Turkey’s Environment Ministry gave the go-ahead for a
nickel mine project that could lead to the felling of 2 million trees in
Çaldag(?, in the Aegean province of Manisa. -
(Courtesy AISI)
In the week ending November 22, 2014, domestic raw steel production was 1,882,000
net tons while the capability utilization rate was 78.2 percent. Production
was 1,826,000 net tons in the week ending November 22, 2013, while the capability
utilization then was 76.2 percent. The current week production represents
a 3.1 percent increase from the same period in the previous year. Production
for the week ending November 22, 2014 is up 1.5 percent from the previous
week ending November 15, 2014 when production was 1,854,000 net tons and
the rate of capability utilization was 77.1 percent.
China Nickel
Imports and Exports Data October 2014 - The General Administration of China
Customs released data of China's October imports and exports of nickel on
Nov.21 (Unit: mt) -
International Ferro Furnaces Suspended In South Africa After Incident -
International Ferro Metals Ltd Monday said two of its ferrochrome furnaces
were suspended for three days by South African authorities following a health
and safety incident and said it will be arguing its case in court Monday
after authorities argued they have not made the necessary changes. -
Zimbabwe's
largest Nickel miner gets prescribed asset status - The Zimbabwean government
has granted the country's largest nickel mining company Bindura Nickel
Cooperation (BNC) a prescribed asset status for its 20 million U.S. dollar
bond with proceeds earmarked towards the restart of a smelter, state media
reported Monday. -
Axiom Mining
in negotiations for funding, offtake for Isabel Nickel Project - Axiom Mining
has revealed it is negotiations with debt and equity financiers and project
level joint venture partners to fund the development of the Isabel Nickel
Project in the Solomon Islands. -
Italy-based
steel manufacturer investing in Allen County - Valbruna Slater Stainless,
Inc., a stainless steel and nickel alloy manufacturer, announced plans today
to expand its operations here, creating up to 45 new jobs by 2017. -
What we have
learned about the November nickel price bull run - The price of nickel
has been trending upwards since nickel went bullish on October 27th, although
the technical trendline remains neutral. So what changed? LME stockpiles
continue to grow, breaking new records nearly every day. China port stockpiles
of nickel ore remain fairly stabile - at least for the moment. Growth in
steel production in China continues to slump. Stainless steel production
around the world has seen better days. Yet more nickel is being produced
than ever before. So how do we explain this phenomenon? Come on, ess - your
readers need an answer. No longer will they accept 'stuff just happens',
they demand to know why, logic demands a reason. So we have done research
on this topic to give our readers the cutting edge and cynical
reasoning they have come to expect from us. We searched high and low
for the conspiracy behind the slump in nickel prices coming to a screeching
halt, and we have finally found the culprits. Yes culprits. Two of them.
No, it was not the opening of a nickel mine, nor the threat of a strike at
another. No, it was not Indonesia saying for the hundredth time that they
would keep their ore ban in place, nor was it the report of a thunderstorm
in the Philippines. No, what we have identified as the root cause, is far
more sinister, and yet, more obscure. It gathered little initial attention
- or so we thought. What did we learn in our thorough, sixteen minute long
research, that we now pass on to you free of charge? You can point the finger
at two men, Lachlan Shaw and Vivek Dhar. These two commodity analysts with
Commonwealth Bank on October 27th, when nickel was at its lowest price in
months, and all of the other metals analysts forecasts of doom and gloom
for 2015 were ringing loudly in our ears, had the gall to pontificate that
we might very well see a nickel surplus in 2015 and 2016. What? Surplus?
Not a huge deficit? Traitorous dribble! Analytical terrorism!
Surreptitious something or another! Who do these two think they are?
But the market has replied with a vengeance. Go ahead and make your little
estimates and try to confuse us all with reasoning and figures gentlemen.
We scoff at your efforts and quote Mark Twain, 'There are three kinds of
lies: lies, damned lies, and statistics". And thus - supply grows (but that
will change), and demand weakens (but that will change), and the price is
rising (and this is as it must be we are told). And the market leans back
in its big, easy chair, raises a skeptical eyebrow, glares down at these
market ruffians, and with a sneer, dares them to challenge the markets reasoning
again. And those of us who sit near the end of the stainless steel chain,
the ones who inevitably catch, and must pay, the effect of higher nickel
prices, cringe in anticipation of the next report these two might write and
hope it has a far less effect on the market. And finally, we of course are
joking and may Lachlan and Vivek continue to call it as they see it. Please
know we are all behind you. And I do mean - way, way, .......way behind you.
Japan's November
stainless steel output to fall on turnaround, output cut - Japan's production
of stainless steel is expected to fall in November on a major plant turnaround
and output cut following a fall in demand, market sources said Friday, November
21. -
Why mining
companies might be the Arctic’s best hope - Economic interests are set
to play an increasingly important role in shaping development in the Arctic.
Yet prominent members of the mining industry, familiar with the economic
and reputational perils of impatient investment, remain cautious. -
Outlook
for Global Base Metals Industry Remains Stable: Moody's - Moody's Investors
Service on Tuesday forecast a stable outlook for the global base metals industry.
-
Vale, province
celebrate first production at new nickel plant in Long Harbour - Employees
working at the new multi-billion-dollar nickel processing plant in Long Harbour
were eager to show off their workplace Wednesday during a ceremony to celebrate
the start of production at the massive new complex. -
Koniambo
Nickel mine in New Caledonia officially opened by French President - Operations
have started at the $7bn Koniambo Nickel project (Koniambo) in New Caledonia
has started operation, which is jointly owned by Switzerland-based mining
firm Glencore and Société Minière du Sud Pacifique (SMSP).
-
Govt
likely to continue talks on mining rights - The government looks set to continue
the process of renewing mineral and coal contracts of work, which is still
in progress. -
Mining
operations at Talvivaara to continue, ministers assure - High-powered ministers
delivered an important message to the residents of Kainuu while visiting
the trouble-plagued nickel mine of Talvivaara in Sotkamo on Friday: the
operations of the mine will continue. -
Threat
of Colombian mine strike boosts nickel - Nickel rose for the first time in
three sessions as workers at a BHP Billiton Plc. mine in Colombia threatened
to go on strike, spurring supply concerns. -
Norilsk
Nickel reduces 9-month nickel output by 5.65% to 199.849 thousand t - OJSC
MMC Norilsk Nickel reduced the 9-month nickel production by 5.65% to 199.849
thousand tonnes from 211.807 thousand tonnes the year before, the company
informed. -
European
stainless steel demand slows on weaker nickel, destocking - Whipsawing nickel
futures prices, which have been sold off sharply of late, are exacerbating
the impact of seasonal destocking in the European stainless steel market,
sources said this week. -
Sherritt
wins sustainable business award for Ambatovy project - Sherritt International
Corp. of Toronto has won the Nedbank Capital Sustainable Business Award in
the resources and non-renewable energy category for its biodiversity program
at the Ambatovy nickel joint venture. -
Ramu ramps
up - The Ramu nickel-cobalt project in Papua New Guinea is continuing to
ramp up to full production with an average production rate of 77% of nameplate
rate achieved for the September quarter. -
Prices
of CR Austenitic Stainless Sheets in Asia Fall to $2,500 CFR Level - Prices
of cold-rolled (CR) austenitic stainless steel sheets in the Asian region
go on falling after the holiday of the Anniversary of the Founding of China
and seem to be the level of $2,550 CFR at present. -
