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page is archived news covering the period of November 2015
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Monday, November 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$3.98/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading flat, and holding below
the $4/lb level. Stockpiles of nickel stored in LME approved warehouses fell
on Friday and now total just over the 408,350 tonne level. SMM reports that
nickel ore stockpiles held at six major Chinese ports rose last week by 20,000
tonnes to total 10.05 million tonnes. China nickel producers announced a
cut for December, but the market is unsatisfied with the numbers being discussed
and so far nickel's reaction was short lived. The $4/lb level seems to be
giving the market a psychological line of resistance.
Average price of cash nickel so far this month - $4.20/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel's
hiatus may be brief without output cuts, stronger demand - Nickel's spectacular
fall since the middle of last year may have come to a halt, but without
significant, enduring output cuts and stronger demand from China's stainless
steel mills the reprieve could be brief. -
more
Nickel
drops despite Chinese plan to cut output by 20pc - Nickel fell for the first
time in four days after smelters in China vowed to curtail output from next
month, underscoring skepticism among investors on whether cutbacks by the
world's biggest producer are able to make a dent in the global glut. -
more
Stainless steel scrap prices plummet on falling nickel prices - The falling
scrap demand from mills along with sharp decline in nickel prices have resulted
in huge decline in stainless steel scrap prices during the month of October
this year. The market participants from stainless steel sector had earlier
predicted that no further fall in prices is expected before the year end.
-
more
Ni SUS Scrap
Purchase Price Down by JPY5,000 - JPY10,000 Due to Cheap Ni = Price is kept
as it is in some areas by putting priority on cargo procurement = Owing to
the continuously-declining nickel price, the respective stainless steel mills
decided to reduce the purchase price for nickel-containing stainless steel
scrap (SABOT) by JPY5,000 - JPY10,000 per ton (delivered at Factory). -
more
Minnesota prepares
for legal fight over PolyMet mine - Whether the controversial PolyMet mine
gets built in Minnesota’s Iron Range will likely come down to how it
affects the environment. -
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 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$3.99/lb. Indicators at
6:00 am CST today show 3 month nickel trading around $.02/lb
lower, as bulls begin
to lose gas. Stockpiles of nickel stored in LME approved warehouses fell
on Tuesday and now total just under the 411,850 tonne level. Nickel traders
got a boost yesterday on news Chinese nickel producers are scheduled to discuss
potential production cuts on Friday. That momentum appears to be waning today.
US markets are closed tomorrow for Thanksgiving and our next update will
be on Monday, November 30th. Have a safe and relaxing weekend, and Happy
Thanksgiving!
Average price of cash nickel so far this month - $4.23/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Mining Stocks: What If Metal Prices Don’t Rally? -
more
If China Killed
Commodity Super Cycle, Fed to Bury It - For commodities, it’s like the
21st century never happened. The last time the Bloomberg Commodity Index
of investor returns was this low, Apple Inc.’s best-selling product
was a desktop computer, and you could pay for it with francs and deutsche
marks. -
more
China Nickel
Makers Said to Weigh Output Cuts to Fight Rout - Nickel makers in China including
Jinchuan Group Co., the country’s largest supplier of refined metal,
plan to gather on Friday to discuss measures to respond to the lowest prices
in 12 years, including possible cuts to supply, according to people with
knowledge of the event. -
more
Nickel
Hits a 12-Year Low, Which Metal Next? - Copper and nickel tumbled to multi-year
lows and oil extended losses on Monday as commodities bore the brunt of another
selloff, reflecting growing worries over China's economic fate and a
strengthening dollar. -
more
Stainless
steel consumption in Russia decreased by 10.6% - According to Spetsstal,
the volume of stainless steel consumption in Russia over period from Jan
till Sep 2015, compared to the equal time interval in 2014, decreased by
10.6% to 245.1 thousand tons. -
more
Metals
Bears Take a Rest as Nickel Rebounds From 12-Year Low - Nickel rebounded
from the lowest level in more than a decade as most industrial metals rose
on speculation the slump encouraged some traders to close out bearish bets.
-
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 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at $3.73/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.06/lb
higher, but an earlier
bullish run has apparently lost some gas and the price is off earlier highs.
Stockpiles of nickel stored in LME approved warehouses fell on Monday, and
now total just under 412,000 tonnes. Reports that Turkey shot down
a Russian jet this morning has traders eyeing world events nervously. European
markets are down sharply and havre struggled to find their footing since
the Paris terrorist attack over a week ago. This attack drove the US Dollar
higher, which is pressuring the base metals markets.
Average price of cash nickel so far this month - $4.26/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel
prices hit 2003 lows as supply glut, Fed hike remain in focus - Three month
LME nickel prices slumped to their lowest level since 2003 as prices extended
declines for a sixth straight session. -
more
Steel stumbles
to near record low as China demand cools - Shanghai steel futures languished
near a record low on Tuesday amid cooling Chinese demand, putting more pressure
on raw material iron ore that is only a tad off a seven-year trough. -
more
Sudbury
watches as nickel slides even further - Base metals -- including nickel --
fell to multi-year lows on Monday on worries that a surge in the U.S. dollar
will deter producers from making supply cuts in a market battling poor demand,
especially in top user China. -
more
Courtesy AISI
- In the week ending November 21, 2015, domestic raw steel production was
1,562,000 net tons while the capability utilization rate was 65.3 percent.
Production was 1,856,000 net tons in the week ending November 21, 2014 while
the capability utilization then was 77.2 percent. The current week production
represents a 15.8 percent decrease from the same period in the previous year.
Production for the week ending November 21, 2015 is down 2.4 percent from
the previous week ending November 14, 2015 when production was 1,601,000
net tons and the rate of capability utilization was 67.0 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$3.93/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.17/lb
lower in very choppy
trading. Stockpiles of nickel stored in LME approved warehouses fell on Friday
and now total just over the 412,550 tonne level. SMM reports stockpiles of
nickel ore at six major Chinese ports rose by 60,000 tonnes last week and
now total 10.03 million tonnes. Nickel prices are being brutalized by a stronger
US Dollar and overall market pessimism in base metals.
Average price of cash nickel so far this month - $4.29/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Selloff
From Oil to Metals to Crops Halts Global Rally in Stocks - A deepening slump
in commodities put an end to a five-day rally in global stock markets and
dragged down currencies of raw-material-producing nations. -
more
More
pain for miners as metal prices whacked - Mining and commodities companies
are once again getting slammed as metals prices take yet another beating.
This is becoming an all too familiar - and painful - tale.-
more
Prices
for Base Metals Plummet - Copper and nickel hit six- and 12½-year lows
as China demand slows and dollar strengthens -
more
Vale
to shut nickel smelting and refining operations in Manitoba, Canada -
Brazil-based mining company Vale has announced plans to shut its nickel smelting,
as well as refining operations in Manitoba, Canada. -
more
October 2015
crude steel production - World crude steel production for the 66 countries
reporting to the World Steel Association (worldsteel) was 134 million tonnes
(Mt) in October 2015, a -3.1% decrease compared to October 2014. -
more
China non-ferrous
metal production slows in October - China's production of 10 major non-ferrous
metals last month grew at a slower pace than a year ago, the top economic
planner said Saturday. -
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 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.08/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.01/lb
higher and off earlier
session lows. Stockpiles of nickel stored in LME approved warehouses fell
on Wednesday and now total just over the 415,450 tonne level. Nickel traded
below the $4/lb level yesterday , to hit its lowest level since July 2003.
Miners in New Caledonia are on strike today, protesting a governments on
again, off again ban of ore exports. China cuts its lending rate overnight.
And the Europeans are following US markets yesterday and sending a signal
they like the US Fed hinting it may raise interest rates next month. It's
a Catch-22 for the markets when it comes to interest rates, but the market
appears to be looking to the Fed to send a signal that it has some confidence
in the economy. Our next update will be Monday. Have a safe and relaxing
weekend!
Average price of cash nickel so far this month - $4.34/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Iron Ore Bludgeoned to Record Low in Asia on China Steel Concern -
more
Strike
hits New Caledonia's SLN nickel plant - Reports from New Caledonia say hundreds
of workers of the SLN nickel company have gone on strike and blocked access
to the plant. -
more
Fitch InterView:
China Steel Production Capacity to Peak in 2016 - Fitch Ratings today
says that China's steel production capacity is likely to peak in 2016, with
capacity elimination over the next five years likely to outpace additions.
-
more
Nickel
Smelter Developers Shelve Indonesia Projects Amid Credit Squeeze - Nickel
smelter developers are putting projects on hold as they struggle to get financing
with metal prices near their lowest in more than a decade, industry and
government stakeholders said on Wednesday. -
more
Western
Areas power restored - Grid power has been restored to nickel miner Western
Areas’ Forrestania operations, in Western Australia. -
more
Citigroup
Says Commodity Markets Yet to Price In Rate Hike - Think the global commodity
markets have fully priced in prospects for higher U.S. interest rates this
year? -
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 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.13/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.01/lb
lower, and looking
for a bottom. Stockpiles of nickel stored in LME approved warehouses rose
for only a third time this month and now total just shy of the 415,900 tonne
level. Nickel fell sharply yesterday, and after a stronger opening, looks
to be struggling again today.
Average price of cash nickel so far this month - $4.36/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China's Economy Faces Considerable Downward Pressure, Xi Says -
more
Indonesia
Targets 'at Least' 7 New Nickel Smelters in 2016 - Indonesia plans to build
"at least" seven new nickel smelters next year, a mining ministry official
said on Wednesday, adding to the eight it targets to be operational this
year.-
more
New
Caledonia Government Rejects Nickel Exports To Japan - The New Caledonian
government has declined a bid by the SLN nickel company to be allowed to
export one million tonnes of low-grade ore to Japan. -
more
Bushfire
halts Western Areas mine - Nickel miner Western Areas faces 48 hours without
mill operations at one of its mines after bushfires took out power lines
north of its Forrestania operations. -
more
Ni SUS Scrap
Purchase Price in Early Nov Held Unchanged at around JPY125,000 = Hesitant
price cut due to small occurrence of SABOT = The purchase price for
nickel-containing stainless steel scrap (SABOT) in November by the stainless
steel mills in the Kanto area started with around JPY125,000 per ton (delivered
at factory), unchanged from October. -
more
BCL looks
to import nickel concentrates - Speaking at a ceremony to honour long-serving
workers and retirees, Mahupela said BCL is now eyeing to penetrate the market
in Sub-Saharan Africa to ensure a sustained life of the mine and the livelihoods
of the people. -
more
Minnesota governor
consider PolyMet health impact study - That Dayton administration is looking
into whether the health of northeast Minnesotans should be included in a
decision about allowing a copper-nickel mine to open. -
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 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.23/lb. Indicators
at 6:30 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just over the 412,950 tonne level. That's actually an important number, although
its impact on the market will be muted. At the beginning of this year, LME
stockpiles were recorded at 414,900 tonnes. Today is the first day this year,
that stockpiles have fallen below that level. That is also 57,420 tonnes
off the all time high reached on June 3rd (470,376 tonnes). Nickel
is trading in ground not seen since the depths of the Great Recession.
Average price of cash nickel so far this month - $4.38/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Tweet) The global nickel market recorded a surplus of 8,300 T in Sept, down
from a revised surplus of 8,400 T in Aug, according to INSG
Iron Ore Sinks to Four-Month Low on Fragile Global Market -
more
China's Metal Fastener Output Exceeds 6.67 Million Tons from Jan.-Sept. -
more
China's
Production of SUS Crude Steel in Jan-Sept 16.13 Mil. Tons = Up by 1% from
year-earlier period and increased production of 200 series balances out =
Stainless Steel Council of China Special Steel Enterprises Association announces
China's production of stainless crude steel in the period from January to
September was 16.1304 million tons, up by 0.7% from the year-earlier period.
-
more
Shipments
Decline Continues - Shipments declined from 2014 levels in October for both
steel and aluminum in the United States and Canada at faster rates than last
month. Inventories declined for steel in the United States and Canada. -
more
Courtesy AISI
- In the week ending November 14, 2015, domestic raw steel production was
1,601,000 net tons while the capability utilization rate was 67.0 percent.
Production was 1,856,000 net tons in the week ending November 14, 2014 while
the capability utilization then was 77.2 percent. The current week production
represents a 13.7 percent decrease from the same period in the previous year.
Production for the week ending November 14, 2015 is down 1.1 percent from
the previous week ending November 7, 2015 when production was 1,618,000 net
tons and the rate of capability utilization was 67.7 percent.
Environmentalists
want anti-PolyMet Minnesotans to stay involved - Environmentalists say the
Dayton administration has failed to adequately vet a proposed Iron Range
copper-nickel mine and they want thousands of Minnesotans to let state officials
know how they feel. -
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 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.28/lb . Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday last
week and now total just over the 416,000 tonne level. SMM reports nickel
ore stockpiles held at six major Chinese ports rose last week by 10,000 tonnes
and now total 9.97 million tonnes. The terrorist attack over the weekend
on Paris has markets acting nervous and guarded today. Nickel bounced off
major support on Friday and has yet to surrender any of those gains, albeit
minor. The Euro is lower, adding negative pressure on base metals trading.
Average price of cash nickel so far this month - $4.39/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Euro Nears Six-Month Low as Paris Attacks Stoke Economic Concern -
more
'Huge impact' on nickel and hogs in index shuffle - The annual reweightings
of the two main commodity indexes may give a "significant" boost to nickel
prices and push up hog futures, Societe Generale said in a report. -
more
Iron
Ore Crisis Could Be Followed By A Nickel Crisis For BHP Billiton And Vale
- The last thing two of the world’s biggest mining companies, BHP Billiton
and Vale , need today is speculation that after the disaster at their jointly
owned Samarco iron ore mine in Brazil they might also have to close big
nickel-mining operations to stem a tide of heavy losses. -
more
Commodity
producers may be better bet in any demand recovery: Russell - Let's assume
that you are a somewhat contrarian investor and take the view that the recent
slump to fresh lows in commodity prices, and the share prices of producers,
is a sign that a turnaround is coming in 2016. -
more
Sumitomo
Metal Mining's Ni Production and Sales volumes in Apr-Sept = Production volume
is 42,478 tons, up by 10% from year-earlier period = On November 10, Sumitomo
Metal Mining Co., Ltd. announced its consolidated business results in the
period from April to September in 2015. -
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 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.39/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.08/lb
lower, and yet to
find a bottom for the day. Stockpiles of nickel stored in LME approved
warehouses had a second day of minor changes, giving up some of the tiny
gain made yesterday, Stockpiles now total just over the 418,728 tonne level.
The Euro is down this morning after European Central Bank President Mario
Draghi hinted further stimulus may be needed in Europe. The US
Federal Reserve will be on parade today, with numerous speakers out and about,
and investors will be looking for clues on future rate increases. Our next
update will be on Monday, November 16th. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.44/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) China's crude steel output in October was virtually flat compared with
September, but fell 3.1% year-on-year in October to 66.1 Mt, according to
data from the National Bureau of Statistics
China's cashed-up
Jinchuan unit seeks copper, nickel assets - A Hong Kong-based unit of China's
Jinchuan Group is hunting globally for quality copper and nickel assets,
leveraging its access to capital at a time when Western rivals are finding
it hard to secure finance, its chief executive said. -
more
LME volumes
fall 3 pct in Jan-Sept amid price slide - Trade volumes on the London Metal
Exchange (LME) fell 3 percent in the first nine months of 2015 compared to
the same period last year due to a slowdown in global growth and weak commodity
prices, the LME's Chinese owners said on Wednesday. -
more
Low
metal prices pull down Nickel Asia’s net income in January-September
- Listed mining firm Nickel Asia Corp. (NAC) reported a decline in attributable
net income (net of minority interests) at P2.49 billion in January to September
from P7.98 billion last year. -
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 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.32/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.03/lb
lower, and trending
lower, yet again. Stockpiles of nickel stored in LME approved warehouses
gained ever so slightly yesterday and now totals just over the 417,750 tonne
level. Markets continue to be quiet as commodities continue to slump.
Average price of cash nickel so far this month - $4.45/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
US Stainless
Steel Market Roundup From MEPS - Business remains slow for hot rolled coil
and plate, in the United States, according to MEPS. Demand from the energy
sector is weak. -
more
Stainless
steel confirmed as safe for food preparation - The continuing safety of using
stainless steel in food preparation has been confirmed in an independent
study following the introduction of new test criteria in Europe. -
more
China's steel
exports down 20% MoM in Oct - China, the world's largest steel producer,
saw its crude steel output decline around 20% year on year to 9.03 million
tons in Oct, according to the latest statistics released by the China Iron
and Steel Association (CISA). -
more
An emergency
meeting to discuss the crisis in the steel industry is to be held - An emergency
meeting to discuss the crisis in the steel industry is to be held by European
economy ministers at the request of the UK. -
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 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.34/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.01/lb
lower, but off earlier
morning lows. Stockpiles of nickel stored in LME approved warehouses fell
on Monday and now total just over 418,700 tonne level. Yesterday's drop of
5,472 tonnes put stockpile numbers only 3,816 tonnes ahead for the year.
Today's total is 51,660 tonnes lower than June 4th's record high of 470,376
tonnes. Sentiment for commodities remains strained and the Euro is trading
lower today, adding more negative pressure on prices.
Average price of cash nickel so far this month - $4.46/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(NFIB) NFIB’s Small Business Optimism Index was was unchanged in October,
posting no change after a rise of only 0.2 points in September and a gain
of only 0.5 in August..
Six months of El Niño—event still going strong -
more
Charting the Markets: It's the China and Fed Show Again - The data
disappointments from China keep coming. Consumer prices rose a
weaker-than-forecast 1.3 percent in October from a year earlier. -
more
Norilsk
Nickel reduces 9-month nickel production by 3.05% - In January-September
2015, PJSC MMC Norilsk Nickel reduced nickel production by 3.05% to 193.754
thousand tonnes from 199.849 thousand tonnes the year before, the company
informed. -
more
Courtesy AISI
- In the week ending November 7, 2015, domestic raw steel production was
1,618,000 net tons while the capability utilization rate was 67.7 percent.
Production was 1,856,000 net tons in the week ending November 7, 2014 while
the capability utilization then was 77.2 percent. The current week production
represents a 12.8 percent decrease from the same period in the previous year.
Production for the week ending November 7, 2015 is down 1.4 percent from
the previous week ending October 31, 2015 when production was 1,641,000 net
tons and the rate of capability utilization was 68.6 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 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.35/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
lower, but appears
to in a sideways trend at the moment. Stockpiles of nickel stored in LME
approved warehouses fell on Friday and now total just over the 432,500 tonne
level. For those with superstitions, the S&P 500 bottomed out in the
Great Recession at a reading of 666. Friday's withdrawals of nickel totaled
666 tonnes. Shanghai Metals Market is reporting nickel ore inventories stored
at six major Chinese ports rose by 10,000 tonnes last week and now total
9.96 million tonnes.
Average price of cash nickel so far this month - $4.48/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
First Quantum
hires Jefferies to sell nickel assets - sources - First Quantum Minerals
has retained Jefferies to explore a sale of its two nickel mines as the Canadian
base metal miner looks to trim debt levels and double down on its bets in
copper, three sources familiar with the matter said -
more
Imports
of stainless steel is recovering - According to Spetsstal’s appraisal,
imports of stainless steel to Russia in Q1-Q3 2015, if compared to the same
period of 2014, fell 14.2% to 167,208 tons. -
more
LME Ni
Average Price in October Up by 5% from Prior Month = Price fluctuates up
and down, but hovers at higher range than September = LME monthly average
price in October 2015 was Cash seller: US$10,344.09 per ton (US$4.692 per
lb) and 3-month seller: US$10,387.73 per ton (US$4.712 per lb). -
more
Exhaustive
environmental report on proposed PolyMet mine in northern Minnesota - The
head of Minnesota’s Department of Natural Resources says an environmental
impact statement for a copper-nickel mine was rigorous and objective. But
environmental groups say the DNR and PolyMet continue to overlook major flaws
in the design and proposed operation of the mine, especially how water leaving
the site will be treated – or not treated – and how any tainted
water will be kept from polluting northern Minnesota waterways. -
more
Mining Industry Waste a Challenge Dams Can't Always Contain - The dams that
ruptured in Brazil Thursday, sending a wall of mud along the countryside,
were built to contain the leftover materials from mining known as tailings,
and disposing of them safely has long been a challenge for miners. -
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 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.49/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.08/lb
lower, and showing
evidence of potentially finding a bottom for the day. Stockpiles of nickel
stored in LME approved warehouses fell on Wednesday and now totals just over
the 427,500 tonne level. Nickel is in trouble again and the price has fallen
south of the sideways pattern it spent much of the latter half of October
in.
Average price of cash nickel so far this month - $4.54/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China Stocks Enter Bull Market as State Stimulus Reverses Rout -
more
EU:
CEN published new Nickel Standard - According to REACH Annex XVII entry 27,
the standards published by the European Committee for Standardisation (CEN)
should be used to demonstrate compliance of nickel release. -
more
Outokumpu
sees distributor destocking stabilising in Q1 - Loss-making stainless steel
maker Outokumpu is expecting distributor destocking to ease off in the first
quarter of next year, its acting chief executive told Reuters. -
more
China's
weak demand for nonferrous metals set to continue - China's economic woes
continue to weigh on the markets for copper and other nonferrous metals.
-
more
North American
Stainless PR - For the month of November 2015, North American Stainless will
maintain the fuel surcharge at 19% for stainless flat and long products.
The surcharge rate is considered a maximum level for November and will be
reviewed monthly. -
more
Axiom secures
A$15m to advance Isabel mine development - International investors jump onboard
at the prospect of making a small fortune out of the Solomon Islands…
but where does that leave the landholders and the environment? -
more
Ring of
Fire player feels pressure - Even as it starts a new exploration program
in the Ring of Fire this week, the mineral belt’s lone main player admits
it’s never been tougher to secure the funds for such projects. -
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 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.54/lb. Indicators
at 5:30 am CST today show 3 month nickel trading around $.02/lb
and like yesterday,
struggling to find a floor, but very near a line of support. After
21 consecutive sessions so lowering numbers, stockpiles of nickel stored
in LME approved warehouses rose by over 5,000 tonnes yesterday, and now total
just shy of the 428,100 tonne level. With little news to move the market,
it appears the stronger Dollar is squeezing nickel traders today.
Average price of cash nickel so far this month - $4.55/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Asia surges with Japan, China stocks in lead; risk appetite lifts dollar
-
more
AK Steel Applauds
Commerce Department's Preliminary Countervailing Duties Determination in
Corrosion-Resistant Steel Trade Case - AK Steel said that it applauds the
U.S. Department of Commerce's preliminary determinations announced today
that imports of corrosion-resistant steel ("CORE") from China, India, Italy
and South Korea are benefiting from unfair government subsidies and should
be subject to counter-vailing duties. -
more
Sherritt
downgraded on balance sheet concerns - The price of nickel has been in the
dumps this year, dropping about 30 per cent. But nickel miner Sherritt
International Corp. has done much worse, falling roughly 70 per cent. -
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 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.60/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.06/lb
and struggling to
find a floor. Stockpiles of nickel stored in LME approved warehouses fell
on Monday, for the 21st consecutive session, and now total just under the
422,850 tonne level. Nickel continues to trade rangebound, with analysts
forecasting, or we might suggest hoping, for some price volatility in the
coming months. It is becoming apparent that we are now using more nickel
than we are producing - but we have a whole lot of excess inventory to burn
thru before that becomes an issue.
Average price of cash nickel so far this month - $4.56/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
HKEx to Roll Out Three More London Metal Mini Futures on 14 December 2015
- Hong Kong Exchanges and Clearing Limited (HKEx) will introduce London Nickel
Mini Futures, London Tin Mini Futures and London Lead Mini Futures contracts
for trading in its derivatives market on 14 December 2015. -
more
Mirabela
reduces staff numbers - Embattled nickel miner Mirabela Nickel has cut nearly
34% of its staff numbers as the nickel price remains low. -
more
Stainless
scrap prices continue their decline in October - Global: Producers'
thin order files have resulted in poor demand for stainless steel scrap and
further price declines: during October, the 304 quality witnessed a drop
from US$ 1070-1120 per tonne to US$ 1000-1050 while the 316 range has been
clipped from US$ 1410-1460 to US$ 1310-1360. -
more
Vale runoff
saturated school board property for years - The Sudbury Catholic District
School board property where toxic runoff from Vale's slag piles allegedly
seeped for decades, was often over-saturated, says a former manager who worked
at the property. -
more
PNG ‘in
stormy waters’ - As the fall in global commodity prices and the weakening
Chinese economy drag down economic growth, Papua New Guinea is sailing stormy
waters with other export-dependent economies, Bank of Papua New Guinea says.
-
more
Courtesy AISI
- In the week ending October 31, 2015, domestic raw steel production was
1,641,000 net tons while the capability utilization rate was 68.6 percent.
Production was 1,840,000 net tons in the week ending October 31, 2014 while
the capability utilization then was 76.5 percent. The current week production
represents a 10.8 percent decrease from the same period in the previous year.
Production for the week ending October 31, 2015 is down 1.6 percent from
the previous week ending October 24, 2015 when production was 1,667,000 net
tons and the rate of capability utilization was 69.7 percent.
OFL
takes hard line on Sudbury worker's death - The Ontario Federation of Labour
is calling on Sudbury's police chief to ensure a criminal investigation is
conducted into the death of a Nickel Rim South miner Oct. 20. -
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 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.56/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
higher, but showing
little enthusiasm so far. Stockpiles of nickel stored in LME approved warehouses
fell on Friday and now total just under the 423,900 tonne level. SMM reports
nickel ore stockpiles at six major Chinese ports rose by 70,000 tonnes last
week and now totals 9.95 million tonnes. Chinese manufacturing PMI came in
at 49.8 over the weekend, reflecting another month of retraction. The European
reading came in at 52.3%, better than forecast.
Average price of cash nickel so far this month -
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Asian shares slide as soft China surveys, US data sap risk appetite -
more
Japan's
Purchase Price of HC FeCr Down by US Cents 4 from Prior Period = US Cents
112 per lb due to weak demand throughout world including Japan = Japanese
stainless steel mills continued negotiation with several foreign ferro-chrome
producers to fix the purchase price of high-carbon ferro-chrome for the period
from October to December in 2015, and recently came to an agreement on the
price to be down by US Cents 4 from the prior period. -
more
New
Caledonia Nickel Export Row Reignited - The group of truck drivers who blockade
parts of New Caledonia for three weeks in August has threatened to take action
again -
more
Weak demand
pummels steel companies' finances - Listed Chinese iron and steel companies
reported wide-ranging losses in the first three quarters against the backdrop
of sluggish demand and renminbi depreciation. -
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.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:00 am CST today show 3 month nickel trading flat, and holding below
the $4/lb level. Stockpiles of nickel stored in LME approved warehouses fell
on Friday and now total just over the 408,350 tonne level. SMM reports that
nickel ore stockpiles held at six major Chinese ports rose last week by 20,000
tonnes to total 10.05 million tonnes. China nickel producers announced a
cut for December, but the market is unsatisfied with the numbers being discussed
and so far nickel's reaction was short lived. The $4/lb level seems to be
giving the market a psychological line of resistance.
Reports
Commodity/Economic Comments
Nickel's
hiatus may be brief without output cuts, stronger demand - Nickel's spectacular
fall since the middle of last year may have come to a halt, but without
significant, enduring output cuts and stronger demand from China's stainless
steel mills the reprieve could be brief. -
Stainless steel scrap prices plummet on falling nickel prices - The falling
scrap demand from mills along with sharp decline in nickel prices have resulted
in huge decline in stainless steel scrap prices during the month of October
this year. The market participants from stainless steel sector had earlier
predicted that no further fall in prices is expected before the year end.
-
Ni SUS Scrap
Purchase Price Down by JPY5,000 - JPY10,000 Due to Cheap Ni = Price is kept
as it is in some areas by putting priority on cargo procurement = Owing to
the continuously-declining nickel price, the respective stainless steel mills
decided to reduce the purchase price for nickel-containing stainless steel
scrap (SABOT) by JPY5,000 - JPY10,000 per ton (delivered at Factory). -
Minnesota prepares
for legal fight over PolyMet mine - Whether the controversial PolyMet mine
gets built in Minnesota’s Iron Range will likely come down to how it
affects the environment. -
Morning Nickel
Price Statistics & Figures
. Indicators at
6:00 am CST today show 3 month nickel trading around $.02/lb
If China Killed
Commodity Super Cycle, Fed to Bury It - For commodities, it’s like the
21st century never happened. The last time the Bloomberg Commodity Index
of investor returns was this low, Apple Inc.’s best-selling product
was a desktop computer, and you could pay for it with francs and deutsche
marks. -
China Nickel
Makers Said to Weigh Output Cuts to Fight Rout - Nickel makers in China including
Jinchuan Group Co., the country’s largest supplier of refined metal,
plan to gather on Friday to discuss measures to respond to the lowest prices
in 12 years, including possible cuts to supply, according to people with
knowledge of the event. -
Stainless
steel consumption in Russia decreased by 10.6% - According to Spetsstal,
the volume of stainless steel consumption in Russia over period from Jan
till Sep 2015, compared to the equal time interval in 2014, decreased by
10.6% to 245.1 thousand tons. -
Sudbury
watches as nickel slides even further - Base metals -- including nickel --
fell to multi-year lows on Monday on worries that a surge in the U.S. dollar
will deter producers from making supply cuts in a market battling poor demand,
especially in top user China. -
October 2015
crude steel production - World crude steel production for the 66 countries
reporting to the World Steel Association (worldsteel) was 134 million tonnes
(Mt) in October 2015, a -3.1% decrease compared to October 2014. -
Strike
hits New Caledonia's SLN nickel plant - Reports from New Caledonia say hundreds
of workers of the SLN nickel company have gone on strike and blocked access
to the plant. -
Nickel
Smelter Developers Shelve Indonesia Projects Amid Credit Squeeze - Nickel
smelter developers are putting projects on hold as they struggle to get financing
with metal prices near their lowest in more than a decade, industry and
government stakeholders said on Wednesday. -
Western
Areas power restored - Grid power has been restored to nickel miner Western
Areas’ Forrestania operations, in Western Australia. -
BCL looks
to import nickel concentrates - Speaking at a ceremony to honour long-serving
workers and retirees, Mahupela said BCL is now eyeing to penetrate the market
in Sub-Saharan Africa to ensure a sustained life of the mine and the livelihoods
of the people. -
Low
metal prices pull down Nickel Asia’s net income in January-September
- Listed mining firm Nickel Asia Corp. (NAC) reported a decline in attributable
net income (net of minority interests) at P2.49 billion in January to September
from P7.98 billion last year. -
Stainless
steel confirmed as safe for food preparation - The continuing safety of using
stainless steel in food preparation has been confirmed in an independent
study following the introduction of new test criteria in Europe. -
Outokumpu
sees distributor destocking stabilising in Q1 - Loss-making stainless steel
maker Outokumpu is expecting distributor destocking to ease off in the first
quarter of next year, its acting chief executive told Reuters. -
Axiom secures
A$15m to advance Isabel mine development - International investors jump onboard
at the prospect of making a small fortune out of the Solomon Islands…
but where does that leave the landholders and the environment? -
