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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

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Thursday, November 30

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.23/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME approved warehouses fell slightly on Wednesday and started today's session just over the 380,100 tonne level. It is the last trading day of November and regardless of what happens, nickel averaged higher this month than it did last month, roughly by $.30/lb. But the month ends on a down trend, and while traders were able to crawl back over the major support level $5.16/lb yesterday, that level is in danger of failing again today. And while the market is off recent highs of nearly $13,000/tonne on the 7th of this month, it is still well above the low of roughly $8800/tonne, it hit back in June. Last evening the market closed at $11,520 so we have a lot of room for the market to move - in either direction. Much of the battery talk has subsided with hopes for increased demand for nickel now confined well down the road. We think much of this talk evaporated once it became clear the new Chinese five year plan did not announce any goal to completely convert their vehicles from petroleum. The new rule this century, if the US or Europe sneezes, the world catches a cold. When China sneezes, the world heads to the doctor to get a pneumonia shot. Lets hope China stays away from the dust for awhile. This is our last update for the week, so we wish our readers a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $5.45/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Base metals drop in Nov despite signs of China factory growth - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (GC) Norilsk Nickel, the Russian nickel and palladium producer, is in the market for a $1bn syndicated loan. The facility is unsecured, and pricing has been driven down to pre-sanctions levels, showing the risk appetite for Russian credits is on the rise.
  • Euro Slides, Bonds Rise on Inflation; Stocks Gain: Markets Wrap - more

     (Wednesday wrap-up) Copper pushed lower on worries over China, falling oil price - Copper prices dropped for a third day and aluminium fell to the lowest since mid-August as concerns over demand in top consumer China and declining oil prices pushed investors to sell. - more

     New World Order is Reshaping Stainless Steel Market - Global stainless steel production reflects the shift in relative size and influence between the world’s established and developing economies. - more

     Metal production up 6% from Jan-Sept - Metal production rose six percent to P81 billion in first nine months of the year due to the continued improvement of prices in the world market, the Mines and Geosciences Bureau (MGB) said. - more

     Opposition organizes against Sault's ferrochrome smelter proposal - A local grassroots group is talking about using the story of Erin Brockovich to persuade Saultites there are better ways to build our economy than a ferrochrome smelter - more

     Indonesia eyes global playing field with state mining conglomerate - The day began with dozens of Indonesian government officials and state mining executives shuffling in and out of marathon meetings at one of Jakarta's oldest hotels. - more

     Zimasco engages creditors on scheme of arrangement - Kwekwe-based chrome smelting company Zimbabwe Mining and Smelting Company (Zimasco), met its creditors yesterday to deliberate on the proposed scheme of arrangement. - more

     Is China's aluminium sector too relaxed about U.S. dumping moves?: Russell - It will be tempting for China’s aluminium market participants to dismiss as inconsequential the latest move by the U.S. Commerce Department to impose anti-subsidy and anti-dumping duties on imports of aluminium alloy sheet. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 29

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.15/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel store din LME approved warehouses rose on Tuesday and started today's trading session just under the 380,450 tonne level. Cancelled warrants measured in the 35% range last week, and the 34% range this week We show major support at $5.16/lb so yesterday's close below that level, should be of concern to bullish traders who believe in this form of trading. What could be potentially more concerning to bullish traders, the current traded price of nickel is coming dangerously close to the 100 day moving average price of $5.07/lb. We have already seen the 10 day MVA crossover the 30 day, and if it should develop the 10 day crosses over the 100 day, it could be another quiet winter for bulls. There was little to no market news over the past 24 hours.
  • Average price of cash nickel so far this month - $5.47/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper pushed lower on worries over China, falling oil price - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Nickel Seems To Be Nice To Go Long - more
  • fnarena - The stronger greenback weighed on base metal prices, which remain under pressure since Beijing’s clampdown on lending and indications Chinese stainless steel demand is waning. Last night all base metals fell -1-2% in London.
  • (SMM) As per SMM research, Indonesia NPI output reaches 6,000 tons this month, saying 650 metal content tons, keeping same level as last month, which is all sold to China.
  • (SO) Odisha to set up Stainless Steel Park for value-added products
  • North America Steel Price Forecast - MEPS - more
  • Goldman Warns Highest Valuations Since 1900 Mean Pain Is Coming  - more
  • Stocks Gain With U.S. Tax in Focus; Pound Rises: Markets Wrap - more

     Deteriorating fundamentals send nickel to six-week low - Nickel prices hit their lowest level in more than six weeks on Tuesday as the market fretted about weaker demand in top consumer China and rising supplies from major producer Indonesia. - more

     NAS Press Release - For the month of December 2017, North American Stainless will increase the fuel surcharge to 23% for stainless flat and long products. The surcharge rate is considered a maximum level for December and will be reviewed monthly. - source

     Promising signs in Tanzania as explorers meet with new mining minister - The situation in Tanzania is looking a bit more promising for Australian juniors with resources projects in the East African country, with small signs of government support. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, November 28

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.25/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.11/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started the session today just over the 379,300 tonne level. Nickel is currently trading where it was on October 12th, then on the climb, September 13th, on the decline, and on August 21st, on the rise. In other words, thru the valleys and the summits, the market is basically back to where it was in late August. Nickel has fallen thru support at $5.16/lb this morning, so it will be interesting to see if this point successfully blocks further declines, or merely slows the bearish run. Bulls are trying to figure out if the old adage 'never try to catch a falling knife' applies today or not. Bears are cashing in, with volatility rewarding the courageous on both sides of the trading world, with downstream users the ones to suffer.
  • Average price of cash nickel so far this month - $5.49/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Deteriorating fundamentals send nickel to six-week lows - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Steel Imports Up 19% Year-to-Date Through October - more
  • (BM) The S&P Global Platts China Steel Sentiment Index edged down to 31.93 this month, from 33.61 in October
  • Reuters - Colin Hamilton, head of commodities research at BMO Capital Markets - “Some reports coming from China (indicate) stainless orders are weakening. Over the past couple of weeks questions from clients have gone from ‘what are the benefits of electric vehicles (for nickel)’ to ‘how bad is China’s demand’”
  • Stocks Rise as Energy Shares Jump; Dollar Steady: Markets Wrap - more

     (Monday recap) Nickel slides nearly 4 percent on China jitters - Nickel prices fell nearly 4 percent on Monday, pressured by weakening demand for stainless steel in top metals consumer China, rising Chinese borrowing costs and Beijing’s regulatory crackdown on risky financing. - more

    Worries over Chinese demand weighs on metals prices and mining stocks - Concerns over the prospect of slowing Chinese demand continued to weigh on metals prices and mining stocks on Tuesday morning. - more

     World Nickel Market Ended in Marginal Deficit During Jan-Sep ‘17 - The latest Metals Balances Report released by the World Bureau of Metal Statistics (WBMS) indicates that global Nickel market has ended in a marginal deficit during the initial nine-month period of 2017. - more

  RNC Plans to Double Beta Hunt Nickel Production in 2018 and Resumes Discussions with Financing and Offtake Partners for Dumont Nickel-Cobalt Project - RNC Minerals is pleased to provide an update on its plans to increase nickel production from the Beta Hunt gold and nickel mine. - more

    Smelter jobs needed: mayor - Thunder Bay Mayor Keith Hobbs says he sees no downsides to the prospect of a ferrochrome smelter being located in the city, suggesting that any “environmental” concerns that might be raised are manageable. - more

     Courtesy AISI - In the week ending on November 25, 2017, domestic raw steel production was 1,703,000 net tons while the capability utilization rate was 73.0 percent. Production was 1,591,000 net tons in the week ending November 25, 2016 while the capability utilization then was 67.1 percent. The current week production represents a 7.0 percent increase from the same period in the previous year. Production for the week ending November 25, 2017 is down 2.4 percent from the previous week ending November 18, 2017 when production was 1,745,000 net tons and the rate of capability utilization was 74.9 percent. - more

     Investors force Rio Tinto to ditch plans to have Mick Davis as chairman - Plans to name former Xstrata chief executive Mick Davis, the current leader of Britain’s ruling Conservative Party, as chairman of Rio Tinto (ASX, LON:RIO) have been abandoned due to investors pressure. - more

  Morning Nickel Price Statistics & Figures

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

Monday, November 27

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.46/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.18/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell the last three sessions and start the week just over the 380,200 tonne level. Nickel closed Friday just above the $12,000/tonne level and just above its 30 day moving average, but this morning is trading about $200/tonne above where it started the last upturn. The correction that started earlier this month does not appear to be over yet. If one looks at the Euro/US Dollar currency graph, there are some similarities to the nickel price graph, but not close enough to trade on. We don't really see a reason for today's retreat, unless the $12,000/tonne is more of a line of resistance than the charts reveal. Nickel averaged $5.13/lb last month and is much higher than that so far this month, so traders could be locking in profits before month end. We will have to wait and see what the rest of the week brings before determining if this is something more than a the market correction working itself out. Enjoy your week!
  • Average price of cash nickel so far this month - $5.52/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London nickel skids, metals slip as investors cut risk - more

  Reports

  • October 2017 crude steel production - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Tackling corrosion on the high seas - more
  • Why the Commodity Supercycle Is Favoring Investors Right Now - more
  • DJ-UBS Nickel TR Sub-Idx ETN Ipath (JJN) Sees Schaff Trend Cycle Trending Lower - more
  • Mike Beck: Cobalt – The Most Supply Constrained Commodity on Earth, By Far - more
  • Stocks Steady as Focus Turns to Tax; Dollar Slips: Markets Wrap - more

        Copper tops $7,000, helped by weaker dollar and shrinking supply - The price of copper climbed above $7,000 a tonne and towards a one-month high on Friday, helped by a weaker dollar and shrinking supplies, though concerns over demand from top consumer China capped gains. - more

     MGB: HMC mining permit renewal unlikely - The application for the renewal of Hinatuan Mining Corp.’s (HMC) mining permit in Eastern Samar is likely to be rejected based on existing laws, Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano said. - more

  • Restore whole ecology not just trees, miners told - more

     Indonesia's Antam eyes 162 pct jump in 2018 nickel ore sales - Indonesia’s state-owned diversified miner PT Aneka Tambang Tbk (Antam) is targeting a 162 percent jump in nickel ore sales next year to 11 million tonnes from an estimated 4.2 million tonnes this year, its chief executive said on Wednesday. - more

     China's steel prices to stabilize in 2018: industry group - China's steel prices will continue to firm up in 2018 as production and supply are becoming more balanced, according to a senior official at the China Iron and Steel Association (CISA). - more

     Clive Palmer 'having a good look' at reopening Queensland Nickel refinery after $197m lawsuit win - Clive Palmer has confirmed he is considering reopening the Queensland Nickel refinery in north Queensland, which comes after he won a $197 million lawsuit against Chinese corporate company Citic. - more

      Mnangagwa and Chiwenga Pictured with SA businessmen on interpol arrest warrant - Pictures have emerged online showing new president Emmerson Mnangagwa and army general Constantino Chiwenga with a controversial businessman who had an arrest warrant issued by interpol. Mnangagwa and Chiwenga were pictured with Zunaid Moti, a South African businessman along with several other business associates named on the same arrest warrant. - more

     Mayor expects 'home run' on ferrochrome smelter bid - Shortlisted as one of four possible locations for NorOnt Resources Ltd.'s ferrochrome smelter, Sault Ste. Marie has an excellent chance of securing the facility, city councillors learned this week. - more

     Burundi signs agreement with Canada based company to exploit nickel - The Burundian government Monday signed an agreement with CVMR, a Canada-based company to continue explorations and the exploitation of nickel in Karusi and Gitega provinces, central Burundi, the Burundian energy and mining minister said here in a press conference. - more

     Norilsk Nickel: urban residents to be engaged in solution of infrastructural projects - It is impossible to solve infrastructural problems of northern cities and create a comfortable environment there without the initiative of residents, Senior Vice President of Russian mining and metals company Norilsk Nickel Larisa Zelkova told TASS. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 22

     US markets are closed Thursday for Thanksgiving. Our next update will be Monday, November 27. Happy Thanksgiving to our US readers and a big thank you to all of our daily readers!

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Three month nickel closed Tuesday's trading session at $5.38/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.04/lb lower. On the same day that Glencore announced it forecast the world nickel deficit to be 170,000 metric tonnes, and the World Bureau of Metal Statistics announced the market was 46,000 metric tonnes in deficit thru the end of September, London Metal Exchange warehouses reported a new high stock level for November at just over the 384,200 tonne level, after a near 5000 tonne daily gain. Another head scratcher headline this morning credits the increase in Chinese steel prices for the gain in base metal trading this week. It's pretty well documented that the increase in Chinese steel prices is being caused by a reduction in steel output in that country due to the pollution crackdown and seasonal slowdown. Need proof (here)? So less steel produced equals more demand for its ingredients? Cross your eyes and you still can't make that math work. After a correction that may or may not be over, nickel has been trading lower as US markets open each day this week, but have ended higher on Monday and Tuesday. US stainless steel surcharges for December were announced yesterday and are slightly higher than we saw in October. You can find our updated sheet here.
  • Average price of cash nickel so far this month - $5.53/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Zinc hits week high on shortages, gains in steel prices - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • S&P Global Platts China Steel Sentiment Index Flat In November - more
  • Dollar Falls as Euro Rises; European Stocks Drift: Markets Wrap - more

     (Tuesday wrap up) Aluminium slips on doubts over China supply cuts - Aluminium prices fell on Tuesday towards the near-three-month lows hit last week on expectations that the pace of supply cuts from top producer China would slow and demand growth weaken. - more

     Philippines' Duterte threatens to close mines that support rebels - Philippine President Rodrigo Duterte on Tuesday threatened to shut down any mine that supports Maoist rebels waging a protracted guerrilla war to overthrow the government. - more

     WBMS - The Nickel market was in deficit during January to September 2017 with apparent demand exceeding production by 46.6 kt. In the whole of 2016 the calculated deficit was 68.2 kt. Reported stocks held in the LME at the end of September 2017 were 12.4 kt higher than at the end of the previous year with most of the increases recorded in Asia. Refined production in January to September 2017 totalled 1329.2 kt and demand was 1375.8 kt. Mine production during January to September was 1448.1 kt, 47 kt above the comparable 2016 total. Chinese smelter/refinery output decreased by 24 kt compared with 2016 and apparent demand was 153 kt lower than in the previous year due to reduced imports of Nickel metal from Russia. World apparent demand was 85 kt lower than the previous year. No allowance is made in the consumption calculation for unreported stock changes. In September 2017, nickel smelter/refinery production was 169.3 kt and consumption was 175.1 kt.  - more

     Open-pit mining ban stays after Duterte directive: environment chief - The Philippine environment secretary said on Wednesday that a ban on new open pit mining in the country would remain in place, with President Rodrigo Duterte rejecting government panel recommendations to reverse it. - more

     Glencore Sees Nickel in Best Shape in Decade Before EVs Take Off - Glencore Plc is seeing the best market conditions for nickel in at least a decade, and electric cars are barely playing a part yet. - more

     Indonesia's Antam eyes 162% jump in 2018 nickel ore sales - Indonesia's state-owned diversified miner PT Aneka Tambang Tbk (Antam) is targeting a 162% jump in nickel ore sales next year to 11-million tonnes from an estimated 4.2-million tonnes this year, its CEO said on Wednesday. - more

     London Metal Exchange outlines waivers to new OTC fee - The London Metal Exchange said on Wednesday it had agreed a range of waivers and discounts to assuage its members when it starts to charge a fee on off-exchange, over-the-counter (OTC) contracts that reference its prices. - more

     Russian Metals Billionaires Hope for Peace as ‘Shoot Out’ Looms - A shoot out is looming in Russian metals. That isn’t a reference to the industry’s blood-soaked history, but to a clause in a hard-won peace deal between two billionaire shareholders of MMC Norilsk Nickel PJSC, Russia’s largest miner. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, November 21

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.29/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and begin today's session just under the 379,300 tonne level. The US Dollar is presently trading higher against the Euro, which is adding a little negative pressure on commodity trading. If you are one of those old fashioned traders who feel fundamentals actually mean something, and that signals should still be considered, then you might want to check on the Baltic Dry Index. After spiking earlier this year, it continues to fall. Vale said the Reuters report that the sale of a part of the old Goro mine in New Caledonia was on hold were erroneous. With many US traders traveling tomorrow, markets could remain subdued.
  • Average price of cash nickel so far this month - $5.55/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - China aluminium prices drop sharply amid signs of robust global output - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • The International Stainless Steel Forum has published a brochure on martensitic stainless steels. - more
  • (Reuters) Nickel ore output fell 11 percent in the nine months to September as several mines remained shut under the government crackdown and others were hit by bad weather.
  • European Stocks Gain as Bonds Rise; Dollar Slips: Markets Wrap - more
  • La Niña ALERT: Tropical Pacific near La Niña thresholds - more

     (Monday wrap-up) Copper edges higher on upturn in China property prices - Copper edged higher on Monday, supported by falling inventories and a monthly upturn in China’s property prices, with gains capped by a firmer dollar. - more

     China's Prices of CR Stainless Steel Sheets on Downward Trend - = With the year end imminent = According to a source, China's market prices of stainless steel flat products are likely to be on an downward trend with the year end imminent. - more

     Brazil's Vale still eyeing sale of stake in New Caledonia nickel mine - Brazilian miner Vale is still looking to sell a stake in its New Caledonian nickel operations, despite press reports that the company would postpone the sale, the Brazilian miner said Monday. - more

     Russia miner Nornickel sees capex rising by 2019-2020 - Russia’s Norilsk Nickel plans to increase capital expenditure to an average of $2.3 billion to $2.5 billion a year in 2019 and 2020 from about $2 billion in 2018 due to an environmental project and infrastructure modernization, it said on Monday. - more

     Courtesy AISI - In the week ending on November 18, 2017, domestic raw steel production was 1,745,000 net tons while the capability utilization rate was 74.9 percent. Production was 1,591,000 net tons in the week ending November 18, 2016 while the capability utilization then was 67.1 percent. The current week production represents a 9.7 percent increase from the same period in the previous year. Production for the week ending November 18, 2017 is up 0.3 percent from the previous week ending November 11, 2017 when production was 1,739,000 net tons and the rate of capability utilization was 74.6 percent. - source

     Taiwanese firm offers ‘cyanide-free’ technology for ore extraction - Taiwanese firm Xin Ye Industry, Ltd. is offering mining companies operating in the Philippines with a “green” technology as it is set to build a second of its about PHP20 million ore stripping facility in the country. - more

     Metals Billionaire to Win Whether Electric Cars Boom or Bust - There are two major reasons mining billionaire Vladimir Potanin is within a hair’s breadth of regaining his ranking as Russia’s richest tycoon 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)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

Monday, November 20

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.25/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the week just under the 379,900 tonne level. Commodity trading in general this morning shows a sea of red, and nickel is no different. Nickel climbed out of a hole on Friday, but its not showing much bullish enthusiasm this morning. The trendline downward remains in place and has yet to be broken. Trading will be somewhat subdued this week for the United States, with Thursday's Thanksgiving holiday being one of the most traveled holiday's, and a long weekend for many. We hope you have a profitable week.
  • Average price of cash nickel so far this month - $5.57/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper prices supported by resilient China property sector - more

  Reports

  • Damstahl Stainless Steel Report - November 2017 - pdf here
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SO) India's stainless steel output to rise by nine percent in FY 2017-18
  • (SMM) China’s stainless steel output is 2,179,600 tons in October, up 2.55% MoM. The total output from January to October is 20.14 million tons, up 6% YoY
  • Euro Shrugs Off German Impasse as Stocks Rebound: Markets Wrap - more

     (Friday wrapup) Nickel gains capped by caution over high inventories - Nickel and copper led the base metals complex higher on Friday, supported by a softer dollar, though both metals ended the week lower. - more

     Nickel loses its electric car fizz, realises it's still a steel play: Russell - The nickel market is learning that there is a difference in believing you are the next big thing in battery metals and the reality that you are actually still beholden to the Chinese steel sector. - more

     Domestic stainless steel output to hit 3.6 mt at 2017-end - The growth is in response to the rising demand for stainless steel, mainly from sectors such as auto, roads and highways, housing and the like, the industry veteran said, adding that the demand will keep rising every year - more

     Vale delays sale of stake in New Caledonia nickel mine - Vale SA has decided to postpone the sale of a stake in its New Caledonia nickel mine after the initial bids for the asset came in at the lower end of expectations, two people with knowledge of the matter said. - more

  • Brazil's Vale denies postponing sale of New Caledonia mine stake - more

     Taiwan firm to build 2nd ore-stripping facility in Baguio City - Taiwan-based Philippines Xin Ye Industry Ltd. said it is set to build a second ore-stripping facility in the Philippines. - more

     BHP seeks shale exit within two years; Nickel West on the block - BHP Billiton says it will seek to fully divest its U.S. shale business in the next two years or so and is looking for the right time to sell its Nickel West business in Australia. - more

     Metal Recyclers Prepare for Electric Car Revolution - Recycling companies are honing processes to extract metals from old batteries more cheaply and efficiently so they can capitalize on an expected shortfall in materials such as cobalt and lithium when sales of electric cars take off. - more

  • Recycling operations get revamped to meet electric vehicle demand - more

     Production Plan for Special Steel Products in Oct-Dec 5.0718 Mil. Tons = Down by 0.4% from year-earlier period = On November 10, 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 2017. - more

     Philippine president keeps open pit mining ban in policy clash - Philippine President Rodrigo Duterte has not lifted a ban on open pit mining, his spokesman said on Monday, going against the stance of a government panel and the environment minister who are seeking to reverse the policy. - more

     Tesla Truck supercharges hopes for boom in battery metals demand - Tesla Inc.’s plans to roll out an all-electric big rig have given a fresh jolt to the outlook for battery metals that will go into powering the truck founder Elon Musk is calling “The Beast.” - more

     Nickel-based catalyst able to recycle carbon dioxide, methane; control climate change - A cost-effective catalyst has been developed to recycle two of the main causes behind climate change - carbon dioxide (CO2) and methane (CH4). - more

      Plundering LP miner remains unpunished - An influential mine that over-extracted 1.8 million tons of ore worth P2.8 billion continues to operate, escape taxes, and ruin nature. Reports from Tubay, Agusan del Norte, are that SR Metals Inc. (SRMI) goes on leveling mountains for nickel. - more

     Congressional Steel Caucus Urges Completion of Section 232 Investigation - President Donald Trump on April 20 issued a presidential memorandum directing the secretary of commerce to conduct a Section 232 investigation “to determine the effects on national security of steel imports. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, November 16

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.30/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started today's session just over the 382,400 tonne level. Nickle continued to slump yesterday, trading at a new low for the month. Today the market is licking its wounds and warily watching for any movement momentum. So far there has been none, with overnight gains evaporating rather quickly but the market has been quiet since. Cancelled warrants continue to slip, now at 33.64%. Chinese Yuan bounced yesterday but has retreated some today. Euro is also trading higher than it was last week. Vale is reportedly considering bids for partnerships in its New Caledonia operation, which a few years ago, was known as the mega Goro project. BHP is also throwing out hints it is looking to get out of the nickel business with its leader telling reporters yesterday it was waiting for the 'right time' to put its Nickel West operation on the market. Just curious. If the market has such a bright future as we have been led to believe these past months, with electric cars needing nickel laden batteries to be the saviour for future metal demand, how come the big boys are trying to off load their big mines? Goro is somewhat understandable as it is one of the most expensive to operate mines in the world. But BHP still determined to get out of nickel mining? In less shocking news, Zimbabwe's former President Mugabe has been removed in a military coup. This could be good news for miners in the future, as the former administrations complete control made mining in that country a fool's errand. The trends of the week remain intact, short term negative and long term positive. This is our last update for teh week, so we wish our readers a safe and relaxing weekend and hope to see you again next week.
  • Average price of cash nickel so far this month - $5.64/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper, nickel slip back towards multi-week lows - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Glencore, Canadian teachers close to launch mining royalty firm - more
  • Reuters - BHP Billiton said on Thursday it was looking for the right time to sell its Nickel West business in Australia.
  • Stocks Regain Ground; Euro Slips, Dollar Edges Up: Markets Wrap - more

     (Wednesday wrap-up) Base metals slide as China data hints at slowdown - Base metals slid on Wednesday as data from China stoked fears of a slowdown in the world’s top commodities consumer, with falls in oil and global stocks indicating broad-based caution among investors. - more

     BHP eyes two-year exit from shale; also selling nickel - BHP Billiton said on Thursday it hopes to fully divest its troubled U.S. onshore shale business in around two years and is also seeking a buyer for its nickel business in Australia. - more

     RI benefitting from China’s love of nickel - Given its plan to boost the use of electric vehicles, China’s love of nickel is projected to remain robust in the years to come, making it crucial for the country to make long-term investments in Indonesia, which is home to 40 percent of the world’s high-grade lateritic nickel ore. - more

     Vale CEO Schvartsman cuts investments in low-return segments  - Vale SA will halt new investments in low-return segments like its nickel business, the company’s chief executive officer said on Wednesday. - more

     Zimbabwe calm as Mugabe is urged to go peacefully - Zimbabweans faced another day of uncertainty amid quiet talks to resolve the country's political turmoil and the likely end of President Robert Mugabe's decades-long rule. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 15

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.34/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.14/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Tuesday and started today's session at 382,650 tonnes. Cancelled warrants fell below the 34% level. Nickel had a brutal day yesterday, and today is starting much like yesterday ended. Nickel gave back over 5% yesterday, and is currently off by over 2-1/2%. $5.22/lb might offer a little support, as it was the low point of a late October sell off, but $5.16/lb offers major support. Nickel is trading below is 10 and 30 day moving average, but with the 100 day at $4.96/lb, there is a comfort zone of protection there. Nickel stockpiles grew by over 3,000 tonnes yesterday, putting the month on the plus side again.  Trends remain intact, with short term bearish, and long term a tad less bullish.  
  • Average price of cash nickel so far this month - $5.68/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Shanghai metals slide as China industrial production cools - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • What Is Going On With Vale SA  - more
  • The iron ore contango: Why now? - more
  • China’s production cuts to boost steel prices - more
  • Stocks Decline Globally as Oil Slides; Euro Gains: Markets Wrap - more

     (Tuesday wrapup) Nickel slides 5 pct as base metals pull back - Nickel fell more than 5 percent on Tuesday, leading a broad-based pullback in base metals prices after weaker-than-expected economic data from China sparked concerns about demand. - more

     PH nickel producer, Russian firm putting up processing plant - Global Ferronickel Holdings Inc., the second largest nickel producer in the country, yesterday signed a memorandum of agreement with Russian firm Vi Holding LLC to build a nickel processing plant in Surigao del Norte. - more

      Balance between Nickel Supply and Demand, Price Decides the Supply - Nickel price has surged since the end of September. - more

     New supply sources could dampen nickel prices - Forget electric vehicles for now. Nickel must first contend with a new wave of supply from Indonesia and the Philippines, as well as a Chinese stainless steel market that’s at risk of slowing after a two-year boom. - more

     Some stories to start your day - The United Steelworkers Union Local 6500 is working fast to try to do whatever they can to help 480 members working at Vale's Coleman Mine in Sudbury that have been temporarily laid off after operations were suspended due to safety concerns. - more

  • Layoff at Coleman extended for weeks - more

      Nov Ni SUS Scrap Purchase Price in Kanto with JPY145,000 - 150,000 = Due to increased Ni price and sense of supply of SABOT being short = As of November 9, many of the stainless steel mills in the Kanto area offer the purchase price (delivered at plant) of nickel-containing stainless steel scrap (SABOT) at JPY145,000 - JPY150,000 per ton. - more

     Greens not buying into talk about a “miracle” in Sotkamo - Terrafame announced last week its plans to build a battery chemicals production plant adjacent to its zinc and nickel mine in Sotkamo, Northern Finland. - more

     Judge weighs motion to dismiss Twin Metals mining lawsuit - Government lawyers asked a federal judge Tuesday to dismiss a lawsuit by developers of the proposed Twin Metals copper-nickel mine who are seeking to regain their mineral rights leases, arguing that their dispute belongs in a different court. - more

     Ring of Fire to feed ‘hungry’ Sudbury smelters first - The president and chief executive officer says he has been working closely with all four of Noront’s best prospects as host to a plant that would process ore from Ring of Fire chromite deposits in Northwestern Ontario. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, November 14

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.67/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started today just under the 379,600 tonne level. Nickel rose by over 3% yesterday and is down by over 1-1/2% this morning. Yesterday's jump was able to punch thru the downtrend line, but today's trading has buried the trading price back in that trendline. Nearly all of the technical indicators have turned their back on nickel, but many just follow the current trend. We show strong support for nickel way back at $5.16/lb, with markets having a hard time establishing effective lines during bullish or bearish runs. Resistance remains at $5.82/lb. Euro is higher against the US Dollar, a positive signal for base metal trading. For those of us who refuse to give up fundamental signals, here are a few to take note of. The Baltic Dry Index is off a recent high and falling sharply. And cancelled warrants continue to fall since the LME Week meeting broke up, down from the 37% range down to the 34% range. Long time readers know why the latter is worth watching. Volatile market, with the short term trend turning negative, but the long term remaining positive.
  • Average price of cash nickel so far this month - $5.69/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel leads broad-based metals retreat after China data - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Architecture, Building & Construction - more
  • (SO) NBS: China’s crude steel output up 6.1 percent in January-October
  • Anglo Keeps Eye on Prize Amid Another Brazil Iron-Permit Setback - more
  • Europe Stocks Track Asia Peers Lower; Dollar Drops: Markets Wrap - more

     Monday wrapup - Nickel rebounds as wary consumers lock in prices, funds buy - Nickel prices bounced back on Monday after two sessions of losses as industrial consumers bought metal to guard against further price gains and speculators also piled in. - more

     Nickel Supply Rush Seen Cooling Rally Before Batteries Boost - Forget electric vehicles for now. Nickel must first contend with a new wave of supply from Indonesia and the Philippines, as well as a Chinese stainless steel market that’s at risk of slowing after a two-year boom. - more

     China's Production of SUS Crude Steel in Jan-Sept 19.669 Mil. Tons = Up by 8% from year-earlier period, and production of all steel types except Mn-type is up = Stainless Steel Council of China Special Steel Enterprises Association announced China's production of stainless crude steel in the period from January to September in 2017 was 19.6693 million tons, up by 8.0% from 18.218 million tons in the year-earlier period. - more

     Timmins confident it will get plant - - Timmins feels it may have an edge in its bid to win the attention of Noront Resources. - more

     Courtesy AISI - In the week ending on November 11, 2017, domestic raw steel production was 1,739,000 net tons while the capability utilization rate was 74.6 percent. Production was 1,591,000 net tons in the week ending November 11, 2016 while the capability utilization then was 67.1 percent. The current week production represents a 9.3 percent increase from the same period in the previous year. Production for the week ending November 11, 2017 is up 1.4 percent from the previous week ending November 4, 2017 when production was 1,715,000 net tons and the rate of capability utilization was 73.6 percent. - more

  Morning Nickel Price Statistics & Figures

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

Monday, November 13

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $. Indicators at 6:20 am CST today show 3 month nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and started the week just under the 380,100 tonne level. Nickel recovered somewhat on Friday after it ended lower on Thursday and is up this morning. The trend is still negative, nickel having fallen fairly consistently since the 6th. Reuters reported Morgan Stanley analyst as stating "While expecting annual nickel demand from the electric vehicle sector to grow to 300,000 tonnes by 2025, Morgan Stanley said the market had been ignoring downside risks from policy developments in Indonesia, which recently lifted curbs on ore exports, and the Philippines, where the end of a ban on open-pit mining has been mooted.". This morning Bloomberg is quoting Lachlan Shaw, an analyst at UBS Group AG in Melbourne “The market has been getting too excited, too soon because of the whole EV thematic -- we think that has been misplaced ....It’s only really 12-18 months hence that we will have an idea of what’s really happening in the battery space, and by 2020 it could be a big part of demand growth. In the short term, nickel will remain a conventional stainless steel trade.” In other words, it's a market based strictly on speculation and is being traded on hopes of demand we won't see for another three years. Investor beware.
  • Average price of cash nickel so far this month - $5.72/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel rebounds as wary consumers lock in prices - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • September Steel Shipments Up 11.7 Percent From September 2016  - more
  • US Seeks to Include Steel Requirements in NAFTA - more
  • Trump a ‘Total Paper Tiger’ on Trade, Schumer Says - more
  • Steel exports slipped a bit in September, falling 1.5 percent to 903,389 net tons. - more
  • Steel imports declined by more than one-tenth from August to September, falling to 3.05 million net tons. - more
  • Iron Ore Participates In The Industrial Recovery, But It Might Not Look That Way - more
  • Sterling Under Pressure; Stocks Slip as Bonds Gain: Markets Wrap - more

     Friday wrapup - Aluminium set for worst week in 18 months on China output - Aluminium edged into positive territory on Friday but was still on track for its worst week since May 2016 as speculative investment flows ebbed on caution over the scale of expected Chinese capacity cuts. - more

     Vale suspends operations at Sudbury-based mine over safety concerns - Mining company Vale says operations have been suspended at the Coleman Mine in Levack due to safety concerns. - more

     Finnish nickel producer aims to tap electric vehicle boom - Finland's Terrafame nickel mine is planning to start producing material for electric vehicle batteries by 2020, the company said on Friday. - more

  • Terrafame plans nickel and cobalt chemicals production - more

     Govt will soon remove Customs duty on ferro nickel - The government will soon remove the Customs duty on ferro nickel, which is used by the stainless steel industry. - more

     Cuba Looks to Expand its Open Pit Nickel Mines - Cuba’s nickel industry is looking to expand its strip mines in search of this precious metal. According to Juan Ruiz Quintana, the managing director of Mining at the Ministry of Mines and Energy, “geological studies to discover new areas rich in this and other metals” are underway. - more

     NSSMC Expands Price Rise of Seamless Stainless Pipes to Other Areas - Nippon Steel & Sumitomo Metal (NSSMC) intends to expand an increase in prices of seamless stainless steel pipes produced at its Amagasaki Works and the Hikari Area of its Oita Works to other customer areas than export and customers with strings attached (for projects) for which prices have already raised by 10% and continue increases in prices of them to all areas. - more

     Sherritt to transfer part ownership of Madagascar mine to settled debt woes - Sherritt International Corp.says it has reached a deal with the joint owners of a Madagascar mine that will see it transfer more ownership to cut its outstanding debt. - more

     Another good sign for nickel prices - Here's a sign that 2017's nickel boom is in full swing: Vale SA is looking to sell a slice of its New Caledonian unit, and seems to be attracting bidders. - more

     3D printing makes stainless steel three times stronger - Researchers have developed a way to 3D print stainless steel that triples the strength of the material. - more

  • Researchers achieve breakthrough in 3-D printed marine grade stainless steel - more

  Morning Nickel Price Statistics & Figures

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

Thursday, November 9

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.76/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.20/lb lower. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and started the day just under the 383,000 tonne level. Reuters this morning "...nickel fell by more than 2 percent in London to its weakest since October as hype over potential electric vehicle demand that has been driving it higher eased." Reuters last night "“The majority of fundamental investors we spoke to (during LME Week), particularly from China, were neutral to bearish nickel at current price levels,” said Nicholas Snowdon, metals analyst at Standard Chartered in London." The key to Mr Snowdon's remark applied to "fundamental investors' and we are not sure how many of them exist anymore. Cancelled warrants continue to fall and we suspect the reason they are down are large traders are becoming less risk averse and thus, are pulling back on the 'hiding' inventory strategy. We don't see strong technical support until $5.16/lb, but psychological support is at $5.44/lb ($12,000 tonne). The market is overdone, rising too fast over the past weeks, so a correction was needed to keep the bullish market healthy. The LME nickel market turned corrective on Monday, so today is just an emphasis of that point. This is our last update for the week, so we wish each of you a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $5.75/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel slides more than 3 pct as EV-fuelled rally reverses - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Is the iPhone X worth $1,000? - more
  • September 2017 Freight Transportation Services Index (TSI) hits all-time high at 129.2 - more
  • Stocks Drop, Led by Miners; Dollar Declines: Markets Wrap - more

     (Wednesday ending) Aluminium slips for second day as speculative flows reverse - The price of aluminium slipped further on Wednesday as investors judged its recent rally as being mainly driven by speculators rather than supply/demand factors. - more

     Brazil's Vale says received bids for New Caledonia nickel project - Brazil’s miner Vale SA said on Wednesday it had received bids to invest in its New Caledonia nickel project as the company reevaluates its nickel business. - more

     Nickel still core for miner - Kambalda-focused Mincor Resources is yet to give a timeframe on its return to nickel, as it approaches an investment decision on a new gold project near Widgiemooltha. - more

    Zimbabwe invites investment in underground chrome mining  – Zimbabwe on Wednesday invited chrome mining investors to focus on underground chromium operations rather than cheaper strip mining operations, from which most of the country’s chromium ore is currently extracted. - more

     Why nickel outshines gold for Mincor Resources - Nickel, rather than gold, has been powering up Mincor’s share price, writes Barry FitzGerald in his weekly Garimpeiro column. - more

     Caution needed over weakness in China's imports of iron ore, coal: Russell - If the sharp drop in China’s iron ore imports in October looks suspicious, it should be viewed in the light of the record high the previous month and a holiday week. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 8

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.74/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and started today's session just over the 380,600 tonne level. We are 18 tonnes over the half way point between the level we started the year at, and the highest level LME stockpiles were recorded this year. Nickel fell back yesterday, and after the psychological resistance level of $5.90/lb, we show the next serious line of resistance not until $13,900/tonne or $6.31/lb. That is a huge jump and reflects the volatility of the present market. The news is blaming a stronger Dollar on nickel's retreat yesterday, but I am not seeing this. The Euro did a big nothing yesterday, fell early this morning, but has recovered since. The Yuan rose, then fell and is a tad higher this morning. Shanghai steel futures retreated a little today. Candlesticks remain positive, while other technicals have turned bearish, but again, many of these signals are merely following what is happening, rather than forecasting the future. The 30 day moving average for nickel is $5.27/lb , while the 100 day is at $4.89/lb
  • Average price of cash nickel so far this month - $5.76/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel, copper lead Shanghai metals down - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Nickel: The Secret Driver of the Battery Revolution - more
  • China iron ore hits six-week high, but steel output curbs to weigh - more
  • Stocks Slip on Banking Earnings; Dollar Declines: Markets Wrap - more
  • La Niña remains possible, but effect on Australia's climate likely to be less than during recent events - more

     Tuesday wrap up - Nickel falls as stronger dollar triggers profit-taking - Nickel fell sharply on Tuesday as a stronger dollar encouraged investors to take profits after prices rose almost 10 percent to two-year highs last week on growing expectations of demand from manufacturers of batteries used to power electric vehicles. - more

     China's Antaike says global nickel deficit to shrink in 2018 - Demand for nickel will outstrip global supply for the third year on the trot in 2018, although the size of the deficit is set to shrink, according to Chinese state-backed research firm Antaike. - more

     Don’t Look Now, But Nickel Just Surged 10% In A Week - From Collin Kettell: In this interview, metals analyst Anthony Milewski discusses the recent move in nickel that followed the LME Week in London. - more

     A Remote Pacific Island Sends a Bullish Signal on Nickel: Gadfly - Here's a sign that 2017's nickel boom is in full swing: Vale SA is looking to sell a slice of its New Caledonian unit, and seems to be attracting bidders. - more

  • Vale Receives Bids for Stake in New Caledonia Nickel Business - more

     Export Quota of Indonesia’s Nickel Mine Released - Ministry of Energy and Mineral Resources of Indonesia released their guiding opinions on export quota. - more

     Market Trend of Import of Ferroalloy as of 31 October 2017 = Future in China is unclear due to regulation on production effective from November = (General Overview) The 19th National Congress of the Communist Party of China finished on October 24, but the supply and demand from now onward has become more unclear because the production and construction work in Beijing, Hebei and its vicinity are supposed to be regulated from November 15 to March 15 next year. - more

     MEPS Forecasts Global Crude Steel Output at 1.7 Billion Tonnes This Year - World crude steel production is expected to expand, markedly, in 2017. Steel demand has rebounded, this year, amid an improving economic climate. - more

     Timmins also bidding for ferrochrome plant - Timmins is taking a new step forward with the plan to attract a new ferrochrome production facility, according to new information released by the Timmins Economic Development Corporation this week. - more

  • 'Sault ... has the best shot for this plant' - more
  • Sudbury to bid for ferrochrome plant - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, November 7

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.86/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and started the day just over the 382,350 tonne level. Nickel closed just shy of the $13,000/tonne level yesterday and is backtracking a little today. The US Dollar is trading higher against both the Euro and the Yuan, adding negative pressure on base metal trading. Cancelled warrants are down for a seventh day. After hitting 37.88% on 27 October, they have been sneaking lower and are at 36.37% today. So is actual demand falling - or are the big investor houses backing off on 'hiding' inventory? Remember, last Thursday just happened to be the first day after the LME Week meetings ended. To early to say it's any kind of turning point, but worth watching. Another commodity analyst is warning of a pullback in nickel prices, although ANZ is predicting some staying power in prices over the next few months. Article below. We have updated out monthly PMI page (here).
  • Average price of cash nickel so far this month - $5.75/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)  
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel slips as stronger dollar triggers profit taking - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China urged to ease reliance on DRC for cobalt - more
  • Stocks Rise as Trump Talks Asia Trade; Bonds Gain: Markets Wrap - more

     Monday closing report - Copper and nickel buoyed by EV demand hopes, strong economy - more nickel and copper rose on Monday, boosted by expectations of healthy demand from the electric vehicle sector, a pollution crackdown in China and signs of solid global economic growth. - more

     Nickel: Jumping the gun - ANZ - Daniel Hynes, Senior Commodity Strategist at ANZ points out that Nickel prices have surged 23% over the past month, as investors homed in on the potential impact of the rising demand for electric vehicles (EV) and while they agree that the potential is significant, they suspect the market has jumped the gun and a short-term pullback could be in order. - more

     China Hanking (03788) resumes nickel mining in Indonesia - China Hanking Holdings (03788) said its laterite nickel project (located in North Konawe Regency, Indonesia) companies have entered into the cooperation agreements with several partners to resume mining production. - more

     Sault to make case for $1B 'Ring of Fire' plant - Noront is reaching out to Sault Ste. Marie to formally ask the city if it is interested in hosting a ferrochrome processing plant. - more

     3D-Printing Marine-Grade Steel - Marine-grade stainless steel, or 316 as it’s called in the industry, is highly sought after for applications that range from underwater storage tanks to kitchen utensils and appliances. - more

    Horizonte Minerals Submits Mine Plan For Araguaia Nickel Project - Horizonte Minerals PLC said Tuesday that it has submitted its mine plan for the Araguaia nickel project to Brazil's National Mining Agency. - more

     Courtesy AISI - In the week ending on November 4, 2017, domestic raw steel production was 1,715,000 net tons while the capability utilization rate was 73.6 percent. Production was 1,573,000 net tons in the week ending November 4, 2016 while the capability utilization then was 68.7 percent. The current week production represents a 9.0 percent increase from the same period in the previous year. Production for the week ending November 4, 2017 is down 1.4 percent from the previous week ending October 28, 2017 when production was 1,739,000 net tons and the rate of capability utilization was 74.6 percent. - source

     Viewpoint: Doubly Magic Nickel - Two independent experiments on the isotope copper-79 confirm that its nuclear neighbor nickel-78 is indeed a doubly magic nucleus. - more

  Morning Nickel Price Statistics & Figures

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

Monday, November 6

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.77/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Thursday and fell slightly on Friday, and began the week just under the 383,400 tonne level. Time for our monthly reminder that we started the year at 372,066 tonnes and the high level for the year was hit on Aug 31 at 389,154 tonnes. Like to keep the Chicken Little deficit hounds mute with a few facts. The Euro fell against the US Dollar on Friday, while the Yuan gave back some earlier gains in the week. Shanghai steel futures continue to climb. Nickel fell on Thursday, but bounced back on Friday and continues to recover today. Technicals shows the market is overbought, but otherwise, look positive. Nickel closed back over minor resistance at $5.76/lb n Friday and if it is able to close above that level again, then $5.83/lb may establish itself as the next line, or $5.90/lb might offer some psychological resistance. A Goldman Sachs report, being quoted by Reuters this morning, says “We expect nickel prices to remain high over the next couple of months on a supportive macro-economic backdrop and market tightening driven by Chinese nickel pig iron (NPI) cuts.” Robin Bhar, head of metals research at Societe Generale, said in a report Friday, “Between now and the next 12 months we’ve got adequate supply and spreads are generally in contango. Nickel is probably $1,000 above fair value, so that needs to correct.” And that's how we start another week in the world of stainless steel. Hope it's a successful one for you.
  • Average price of cash nickel so far this month - $5.73/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London copper, nickel buoyed on EV demand expectations - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China and India lead the way in solar power boom - more
  • Reuters - Goldman Sachs upgraded its nickel forecasts, pushing its 3-month nickel view to $12,500 a tonne from $9,000
  • (FT) In an interview with the Financial Times, Fabio Schvartsman said reducing debt was his number one priority ..."
  • Stocks Drift Lower as Banks Lag; Bonds, Oil Climb: Markets Wrap - more

     London Metal Exchange Week galvanised by electric dreams: Andy Home - The future is bright. The future is electric. The green technology revolution lit up this year’s London Metals Exchange (LME) Week.- more

     Nickel: Persistent Consolidation Needed For Continuity Of Uptrend - Having a look at the movement in the same chat on November 3rd, 2017, I find that the Nickel futures price seems ready for volatile moves on either side from the current levels after an eruptive move during the Week of October 29th, 2017. - more

     Nickel: The Secret Driver Of The Battery Revolution - But while lithium and cobalt deservedly get a lot of the press, there is another metal that will also be changed forever by increasing penetration rates of EVs in the automobile market: nickel. - more

     Australian Mines bags $20M to accelerate cobalt, nickel projects - Australian Mines Limited’s shares are trading circa 29% higher intra-day after securing $20 million via a share placement to international institutional investors, at $0.085 per share. - more

     Electric cars could give nickel a jolt - Glencore and Trafigura Group Pte are often at loggerheads, but one thing they agree on: The nickel market will be transformed by the rise of electric cars. - more

     French territory New Caledonia to hold referendum on self rule - The French overseas territory of New Caledonia will hold a referendum on self rule in 2018, which is expected to pave the way to full independence for the Pacific archipelago. - more

     The GOP Proposes Tax Reform That U.S. Shale Will Love, Tesla Will Hate - The popular joke about Tesla founder and CEO Elon Musk is that every time his company reports another quarterly operational loss, he makes another high profile speech about creating a human colony on Mars. - more

  • The All-Electric Car Fairy Tale - more

      Zimbabwe chromium and iron exported through Mozambique’s ports - A million tonnes of chromium and iron ingots from Zimbabwe will be transported annually through the ports of Maputo and Beira along the Limpopo and Machipanda railroads, under a three-way agreement signed recently, the Mozambican press reported. - more

     Reserve training film at archives - This Remembrance Day, take a moment to remember our local military service members by watching film footage of reserve training at Minnow Lake at the City of Greater Sudbury Archives. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, November 2

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.80/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just under the 381,600 tonne level. LME Week festivities ended last night, and maybe there are a few hangovers this morning, as nickel takes a rest from its two day spike. In fairness, all LME traded base metals are lower this morning. The Euro remains quiet, while the Yuan jumped overnight, but is back to yesterday's level.  Shanghai steel futures rose overnight. Not sure how long it will last, but we show $5.83/lb as the next level of resistance. with $5.90/lb offering a line of psychological resistance ($13,000 tonne). Lot being suddenly said about the nickel crunch we are supposedly already in, using the cancelled warrants being at 37% as evidence. Cancelled warrants have been over the 27% level for a few weeks now, and before that they were at this level in August, before they fell to the high 20% range. Before that, would have been February 2016, when they were coming down from the 40% range the month prior. Back then nickel was trading under $4/lb, and did little as cancelled warrants rose. So what gives? At one time, they meant something. Like supply and demand. Or the Baltic Dry Index. The Financial Times wrote an article in 2011 titled 'Re-evaluating cancelled warrants' in which they stated "The cancellation of the warrant, after all, meant someone was ready to take delivery of the metal in question, taking it out of storage for sale into the real physical market. At FT Alphaville, however, we’ve recently observed that’s not necessarily what is happening nowadays. Metal is still being taken “off warrant”, but rather than being transferred into the physical market it’s ending up in non-LME storage facilities or simply being classified private non-LME registered stock in the very same warehouses. Kept out of sight, so to speak. Citi’s latest note on aluminium reflects the concerns. As their metals analysts commented this week (our emphasis): LME Cancelled Warrants have surged to extremely high levels in recent weeks. The issue now is deciding whether this is merely a large holding being transferred to another warehouse – on the back of a better rent deal – or whether consumers are ‘canceling’ in anticipation of long delays in getting hold of their material." - source. In other words, large metals traders are sometimes boosting this number by playing 'hide the inventory'. With another lowering in rents recently announced, this 'tactic' will probably become more popular again. And on that dirty little market secret, we finish aother week. We hope each of you has a restful and safe weekend, and invite you back next week.
  • Average price of cash nickel so far this month - $5.76/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Shanghai nickel surges to highest close in over two years - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China steel futures fall amid uncertain outlook - more
  • Dollar Drops as Powell Set for Fed Nod; Bonds Slip: Markets Wrap - more

     Electric vehicle story fuels nickel's jump to 2-year high - Nickel prices rocketed nearly six percent on Wednesday to two-year highs on growing expectations of strong demand from manufacturers of rechargeable lithium-ion batteries used to power electric vehicles. - more

     Nickel Rallies Most in Five Years on Promise of Electric Cars - The nickel market has caught fire, with prices posting the biggest two-day advance in five years. - more

     MEPS Predicts Record High for Global Stainless Steel Production in 2017 - MEPS forecasts that world crude stainless steel output will reach an all-time high of 47.5 million tonnes in calendar year 2017 - more

     Australia's nickel industry is at a 'natural turning point' - Shares in ASX-lised Western Areas opened strongly on Thursday, rising 3.2 per cent in morning trading, while main rival Independence Group traded 2.9 per cent higher. - more

     Nickel Price Surging As Hype Escalates During LME Week - It’s LME Week and there’s cause for celebration in metal markets. European mining stocks rose to a 4-year high as the nickel price surged more than 5% intraday to a two-year high and rose by the daily limit in Shanghai trading today. - more

     U.S. Stainless Steel Bar Producers Applaud Affirmative Preliminary Determination to Reinstate Two Indian Bar Producers Back Under Existing Antidumping Duty Order - pdf here

     Fatality at New Caledonia nickel plant - There has been a fatal accident at the Vale nickel plant in New Caledonia. - more

     World Steel Association Outlines Challenges Ahead For Steelmaking Raw Materials - The surge in Chinese steel production in the 2000s has boosted the demand for steelmaking raw materials including iron ore and metallurgical coal. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, November 1

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.58/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.23/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and started today's session just over the 381,400 tonne level. Toward the end of London's trading day yesterday, nickel traders decided to start another bullish run, that apparently caught bears completely off guard. At one time nickel was trading at $5.90/lb, nearly $12,500 tonne, and over $1000/tonne higher than it had traded at at one point on Monday. After its first successful close about the $12,000 level and resistance at $5.49/lb, nickel continues to trade bullishly today, and at one point, was trading over the $13,000/tonne level. You have to go back to June 2015 to find nickel trading at these price levels. Whether they will hold or not, remains to be seen. LME nickel analysts and traders seem to be on a high right now, so its hard to see this being a dead cat bounce. RSI and Stochastics are flashing overbought, but other technicals remain positive. Euro is doing nothing against the US Dollar, but the Yen is higher, which is offering support. Shanghai steel futures gave up their gains from yesterday and while remaining off monthly lows, are well off their high for October. Either someone forgot to let the International Nickel Study Group that things are about to get interesting with their metal, or they deal on facts and not hypothesis. At their meeting last week, they forecast the deficit in nickel production compared to demand - to fall from 2017 levels - see the Tex report article below. It's a new month and volatility is back in the market, so interesting times could be ahead. It's all about the battery - boom or bust - yet to be determined.
  • Average price of cash nickel so far this month - $5.14/lb (avg October)
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel prices soar, boosted by demand from electric car battery makers - more
  • Bloomberg morning - Nickel Surges to Two-Year High on Promise of Electric-Car Boom - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Steel Industry CEO Discusses The Impact Of The Canadian Steel Industry On The North American Automotive Market - more
  • Stocks in Europe Hit Two-Year High as Metals Surge: Markets Wrap - more

     Copper slips on fears October rally is overstretched; nickel jumps - Copper fell on Tuesday as its rebound from Friday’s 2 percent drop was arrested by concerns that the market had become overextended during this month’s push to three-year highs above $7,000 a tonne. - more

      INSG Anticipates Ni Production during 2017 to 2018 to Continue Rising = Consumption also will go up and both demand and production are anticipated to be strong = The regular meeting of the International Nickel Study Group (INSG) was held in Lisbon, Portugal during 23rd to 24th of October. - more

     Nigeria: World Bank Predicts Further Rise in Commodity Prices in 2018 - The World Bank has predicted that oil prices would rise to $56 a barrel in 2018 from $53 this year, as a result of steadily growing demand, agreed production cuts among oil exporters and stabilising United States shale oil production. - more

     State miner Antam 'strikes gold' in third quarter - State-owned miner PT Aneka Tambang (Antam) has recorded a 7.9 percent annual increase in net revenues in the first nine months of this year to Rp 6.96 trillion (US$513.37 million), with 55 percent coming from gold sales. - more

     Press Release - For the month of November 2017, North American Stainless will maintain the fuel surcharge at 22% for stainless flat and long products. The surcharge rate is considered a maximum level for November and will be reviewed monthly. - source

     North American Nickel forecasts Greenland project launch by 2024 - North American Nickel should start producing at its flagship Maniitsoq project in Greenland by 2023 or 2024, when demand for nickel from electric vehicle (EV) batteries should be in full swing, the company’s chief executive officer (CEO) said on Tuesday. - more

  Morning Nickel Price Statistics & Figures

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

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