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Thursday, November 29
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$4.90/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Wednesday and started
today just over the 213,700 tonne level. We would call it bear fatigue, as
the market rose ever so slightly yesterday, and is up today. US Fed Chairman
Jerome Powell appeared to be bowing to Twitter pressure from President Trump
and announced interest rates were near where they needed to be, a change
from comments he made in October. The comments were made too late to help
LME trading yesterday, but there is some catch up trading today. The big
news story - the upcoming G-20 and the meeting between President's Trump
and Xi and a possible trade agreement, remains unchanged. This is our
last update for the week, and hopefully, by our next update, we will know
a lot more about that. This is also our final update for November, so we
look forward to seeing you next month. In the mean time, have a safe and
relaxing weekend!
Average price of cash nickel so far this month - $5.12/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper prices rally in wake of Fed comments, force
majeure -
more
SO - US new home sales drop 8.9 percent in October
China Steel prices hold steady in October: CISA -
more
Trading Activity Deteriorates in the Emerging Steel Markets -
more
Citigroup upgrades its iron ore price forecasts even as the market crashes
-
more
Treasury Yield Hits 3%, Stocks Mixed After Powell: Markets Wrap -
more
Yesterday's market review - Zinc regains ground after plunging to 10-week
low - Zinc prices rose on Wednesday as falling stockpiles and rising premiums
for nearby metal highlighted a short-term supply squeeze, halting a slide
to 10-week lows. -
more
Ni
SUS Scrap Price in Late November Starts with JPY115,000 - JPY120,000 = Many
of customers stop buying = As of November 20, the stainless steel mills in
the Kanto area purchase nickel-containing stainless steel scraps (SABOT)
at somewhere between JPY115,000 and JPY120,000 per ton (delivered at plant).
-
more
Mincor
chief confident of robust nickel growth - Incoming Mincor Resources managing
director David Southam is looking beyond recent turbulence in the nickel
price after the respected Western Areas director was announced as its new
head, saying he is confident in the long-term outlook for the base metal.
-
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 28
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$4.89/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME warehouses went unchanged on Tuesday and remain just
under the 213,800 tonne level. Nickel is now trading at its lowest point
since September 2017 and won't have to drop much lower to move to its lowest
since July 2017. Prices are trading higher today, but the chart shows little
enthusiasm behind the movement. Support is at $4.86/lb but these support
points have been falling faster than wheat in a wind storm. China steel index
futures turned higher overnight, but we will have to see if this is just
a momentary break from a bearish trend, or something more. Traders continue
to look for clues on what might or might not happen at the G-20 meeting this
weekend between President 's Xi and Trump. Emboldened by last night's Senate
run off in Mississippi, we don't look for President Trump to give up much
on his demands.
Average price of cash nickel so far this month - $5.13/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper rises after 3-day slide, trade uncertainty
curbs gains -
more
AISI - Steel Imports Down 11% Year-to-Date Through October
Germans increasingly wary of trans-Atlantic alliance: survey -
more
Stocks Push Higher; Dollar Steadies Before Powell: Markets Wrap -
more
Tuesday's market review - Steel-linked metals slide on China demand
woes, tin sinks - Steel-linked metals zinc and nickel hit multi-month lows
on Tuesday as demand worries escalated on Chinese steel price weakness and
mounting U.S.-Sino trade tensions, while tin prices sank to two-year lows.
-
more
Russia's Potanin to appeal UK court decision in battle of billionaires
- Russian businessman Vladimir Potanin plans to appeal a London court decision
to block him from buying shares in mining company Norilsk Nickel from fellow
investor Roman Abramovich, representatives at Potanin’s investment firm
said on Tuesday. -
more
Probe
Into Ramu Nico - Madang Governor Peter Yama has commissioned a team of
environmental experts to immediately conduct an environment damage assessment
on the Ramu nickel mine. -
more
Press
Release - For the month of December 2018, North American Stainless will reduce
the fuel surcharge to 27% for stainless flat and long products. The surcharge
rate is considered a maximum level for December, and will be reviewed monthly.
-
source
Chinese
ferromoly prices fall as inspection-driven supply fear recedes - Chinese
spot ferromolybdenum prices have peaked off from end October levels as fear
of environmental inspections resulting in plant closures receded, market
sources said Wednesday. -
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 27
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$4.93/lb. Indicators
at 6:25 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Monday and started today's
session just under the 213,800 tonne level. Nickel continues to fall, and
the Wall Street report that Trump is now down playing any trade agreement
with China and reinforcing his threats to add new tariffs. This has markets
around the world trading in the red this morning. Nickel has fallen so fast
recently that support levels are busted before they can be published. Traders
are apparently waiting in the wings, having learned it is not wise to try
to catch a falling knife. The report that came out that there was a "massive"
new supply of nickel coming online next year from Indonesia had us puzzled,
as we had not heard this before. Here is where the 'news' came from. Peter
Peng, an analyst at CRU Group, reported Friday “I heard some Chinese
investors are shooting (down) nickel price. They think nickel production
in Indonesia will bring the market into surplus next year, and demand for
stainless will be bad." And in the same report, Reuters states "Expectations
of a supply avalanche hitting the nickel market next year due to new capacity
in Indonesia have sent prices down more than 15 percent since September."
Ok, so where is this new and 'massive' new production coming from? We really
aren't sure and apparently we aren't alone. Here are a few forecasts from
July of this year -
first by BMI Research here -
second
by Macquarie Capital here. These are both very respected metals
analysts and neither seem to be concerned about any 'massive' new production
coming online. Yes Indonesia should produce more nickel next year than this,
and they have for many years now. The use by China of the so called 'pig
nickel' made the Philippines and Indonesia both major players in the nickel
industry. Demand is another story. Should that fall significantly, and production
targeted for the EV industry not pick up the slack, then it is possible we
could see production exceed demand. For now, demand exceeds supply. And
interestingly, someone has been quietly buying nickel the last few days,
with cancelled warrants jumping from 20.91% last Monday, to 23.27% today.
Stay tuned. We thought this week would be a dull one with nickel prices drifting.
Instead, the rush for the exit continues.
Average price of cash nickel so far this month - $5.15/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper falls for third day after Trump tariff
threat -
more
Chinese steel mill profits have collapsed, and iron ore prices could be next
-
more
Kibo Mining completes sale of Haneti Nickel Project in Tanzania -
more
ron ore's plunge is about finally catching up to steel's slump: Russell -
more
Falling Chinese Steel Prices Raise Global Fears -
more
Stocks Struggle as U.S.-China Trade Talks Weigh: Markets Wrap -
more
Yesterday's market review - Zinc falls as weaker Chinese demand outweighs
supply fears - Zinc prices fell for a second session on Monday as expectations
of weaker demand from Chinese steel mills overpowered signs that the market
is short of metal. -
more
Trump
says he expects to raise China tariffs -Wall Street Journal - U.S. President
Donald Trump said on Monday he expected to move ahead with raising tariffs
on $200 billion in Chinese imports to 25 percent from the current 10 percent
and repeated his threat to slap tariffs on all remaining imports from China.
-
more
Aussie
battery metals group plugs-in to Centaurus’ Brazilian nickel-cobalt
discovery - Centaurus Metals has struck what it describes as a
“game-changing” joint venture deal with Australian battery metals
process group Simulus Group to underpin the development of its recently
discovered Itapitanga nickel-cobalt project in Brazil. -
more
More arrests in New Caledonia mining town - Several people have been taken
in for questioning in the New Caledonia mining town of Kouaoua, which has
been the scene of arson attacks this year. -
more
Police to be stationed in New Caledonia mining town -
more
Exclusive: Traders in talks to form first LME ring member in decade
- A group of traders are in talks with Sigma Broking Ltd to create the first
new open-outcry member of the London Metal Exchange (LME) in more than a
decade, three industry sources said. -
more
Courtesy AISI - In the week ending on November 24, 2018, domestic raw
steel production was 1,906,000 net tons while the capability utilization
rate was 81.3 percent. Production was 1,708,000 net tons in the week ending
November 24, 2017 while the capability utilization then was 73.3 percent.
The current week production represents a 11.6 percent increase from the same
period in the previous year. Production for the week ending November 24,
2018 is down 0.9 percent from the previous week ending November 17, 2018
when production was 1,924,000 net tons and the rate of capability utilization
was 82.1 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)
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 26
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$4.95/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses have fallen steadily since last
week and start this week just under the 214,000 tonne level. LME nickel prices
also steadily fell the last three days of last week, closing below the
$11,000/tonne and $5/lb level on Thursday and Friday. Next line of support
is $4.86/lb, but in our opinion, the market has fallen thru numerous support
lines too fast and traders need to take a breath. The market appears to be
trading on what might/will happen at the G-20 meeting later this week, and
if a trade agreement between China and the US will happen. Commodities are
not the only markets trading on this speculation, but much of the volatility
is self imposed. If no agreement is reached, there is no guarantee on what
will happen down the road. Lot of sabre rattling going on but in reality,
at this point, that is all it is. Some reports that there are fears building
that new production of nickel coming online next year from Indonesia could
push the market into a surplus situation. This was not something the market
worried about a few months back, but with the rate of LME stockpile withdrawals
down sharply from a few months ago, it is now a concern to some. BASF took
a little of the wind out of the battery sail Friday, with its news that it
is working on lowering nickel content in its EV batteries. While its worth
watching, they aren't the first producer to announce they are trying this.
Hard to tell where the market will head this week. Obviously the near term
trend is down, but we feel the market has already traded in any potential
negative news coming from the G-20, and the fall below the $5/lb level is
unwarranted. Have a good week!
Average price of cash nickel so far this month -
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Nickel, zinc drop on weaker China demand; focus
on Trump-Xi meeting -
more
EU Steel Demand Slows in November - Prices Under Negative Pressure -
more
Early days for stainless steel in cladding, construction industry -
more
Global Stocks Rebound as Italy, Greek Bonds Rally: Markets Wrap -
more
Friday's
market review - Nickel tumbles to 13-month low on demand fears - Nickel prices
on Friday touched their lowest since October last year, pulled down by worries
about a supply surplus in 2019 and weaker demand from China, the largest
consumer of the metal. -
more
Goldman
Predicts Commodities Will Soar in 2019 - Commodity bull Goldman Sachs Group
Inc. is undaunted by the sell-off in raw materials and is forecasting returns
of about 17 percent in the coming months, describing the current situation
as unsustainable and touting this week’s G-20 meeting in Buenos Aires
as a potential turning point. -
more
BASF plans to lower nickel ratio in batteries - BASF is attempting to lower
the nickel ratio in battery chemistry and also to work towards zero cobalt
content. The goal is to reduce costs while supplying the growing market for
cathode materials for electric vehicle batteries. -
more
WBMS - January to September 2018 Metals Balances - The Nickel market
was in deficit during January to September 2018 with apparent demand exceeding
production by 33 kt. In the whole of 2017 the calculated deficit was 41.3
kt. Reported stocks held in the LME at the end of September 2018 were 138
kt lower than at the end of the previous year. -
more
Market
Trend of Import of Ferroalloy as of 15 November 2018 = Price of manganese
metal continues dropping, and price of FeV drops resulted from adjustment
of high price = The market trend of import of ferroalloy as of 15 November
2018 is as follows. -
more
The investment case for nickel: In charge with electric vehicles - The world
is changing at a rapid pace. Over the next decade, we expect five key megatrends
to shape the framework in which we live. The marriage of two of these key
megatrends – (1) technological innovation and (2) climate change builds
the case for electric vehicle (EV) adoption. -
more
Arrests in New Caledonia over mine attacks - Police in New Caledonia have
arrested three men in connection with the arson attacks on the SLN nickel
company's site in Kouaoua. -
more
Western Areas’ boss David Southam to join Mincor for Kambalda nickel
restart - Mr Southam will take over from current chief executive Peter Muccilli
in February. He had been an executive director of nickel producer Western
Areas since 2010. -
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 21
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.04/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell about the same amount they
rose on Monay and start today just over the 215,300 tonne level, or 6 tonnes
lower than we started the week at. Nickel closed below major support for
a second consecutive day yesterday, sending another bearish technical signal.
Next support line is at $5.00/lb. Commodities appear to have gotten caught
up in the big equity sell off yesterday, and are trading in neutral this
morning, apparently watching to see what US markets will do when they open.
Lot of uncertainty out there about the China - US trade spat and an analysis
by a USTR "Section 301" investigation into China's intellectual property
and technology transfer policies released yesterday is not building confidence
in an agreement. It stated "This update shows that China has not fundamentally
altered its unfair, unreasonable, and market-distorting practices that were
the subject of the March 2018 report on our Section 301 investigation." This
statement was released after U.S. markets had closed yesterday, and while
U.S. stock futures are higher at the moment, it will be interesting to see
if this statement has any adverse affect on markets today. The Euro is slightly
higher this morning, but still lower than yesterday, so any help for commodity
traders there is minimal. Volatility rules, and since June, that has been
bad news for nickel. This is our final update for the week, with US markets
closed Thursday for the Thanksgiving holiday. We are thankful you joined
us today, and hope you have an enjoyable and safe weekend. We hope to see
you again next week.
Average price of cash nickel so far this month - $5.21/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
SMM - Average daily output of crude steel across China Iron and Steel Association
member mills during first 10 days of November rose 0.57% from the last 10
days of October.
Mining and tourism among Northern Manitoba issues touched on in speech from
the throne -
more
USTR says China has failed to alter 'unfair, unreasonable' trade practices
-
more
U.S. Futures Gain With Europe Stocks; Oil Rallies: Markets Wrap -
more
Tuesday's market review - Copper reverses rally on stock market losses,
trade disquiet - Copper prices slipped on Tuesday after five days of gains,
unnerved by a sell-off on share markets and sapped by uncertainty before
a meeting of U.S. and Chinese leaders. -
more
Global nickel market deficit widens in September - INSG - The global
nickel market deficit widened slightly to 9,200 tonnes in September from
the previous month's revised deficit of 8,100 tonnes, the International Nickel
Study Group (INSG) said. -
more
Imports
of nickel unwrought, not alloyed surge in Oct in anticipation of robust demand
- China imported 24,300 mt of nickel unwrought, not alloyed in October, up
35% month on month and 54% year on year, showed data from China Customs.
-
more
China
Produces 82.55 MT of Crude Steel in Oct, a High for the Year - China's National
Bureau of Statistics announced on 14 November that the country's crude steel
production output in October stood at 82.55 mil tons, up 9.1% year-on-year
(y/y) and 2.1% month-on-month (m/m), exceeding the 80-mil ton mark for six
straight months and marking the highest monthly figure not only in the year
but also in the past five years. -
more
BHP Nickel West mine receives EPA backing - BHP Billiton Nickel West’s
proposal to build and operate a new nickel sulphide mine near Leinster in
Western Australia has been approved by the state’s Environmental Protection
Authority (EPA). -
more
Norilsk
Nickel cautiously opening the conversation with environmentalists -
Environmentalists are at last hearing something encouraging from Norilsk
Nickel, one of Russia’s biggest polluters –which last week delivered
a grudging acknowledgement of its past mistakes and offered the beginnings
of a transparent plan to make them right. -
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 20
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.07/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses rose slightly on Monday and started
today's session just under the 215,600 tonne level. At the moment we are
writing this, nickel is trading over the technical line of support by $2.50.
With nickel having closed below support yesterday, someone is apparently
taking the 'second consecutive close below support being bearish' theory
seriously, and trying hard to keep the market above that line today. Based
on trading earlier in the session, today has turned into a up and down skirmish
between the bulls and the bears, with the odds tipped to the bearish side.
Steel prices continue to slide in China, while the Euro has recovered from
much of the last months losses against the US Dollar. Markets appear to be
trading the G-20 summit next week, and the odds of a trade agreement being
announced between China and the U.S. The ramifications are so important to
nickel, that the mere tone in someone's voice used during an interview, can
turn the market. There was little tone used over the weekend by the Vice
President, but his message was clear, and world markets reacted Monday. Or
was his message another threat to force the others hand and push them over
a line they may have drawn in the negotiation sand? Or is an agreement pretty
much a done deal and the 'threats' just a way to make the President look
tougher when an agreement is announced? That is why there is no such thing
as 'clear' when it comes to politics. The pressure appear to be on China,
with the US economy in pretty good shape. China, on the other hand, has to
run at a speed well above the 'pretty good shape; level, and right now, evidence
is starting to show the tariff's are having an adverse effect. How much no
one really knows. One thing is clear, We will know more by the first trading
day of December. Until then, traders bet their hunches.
Average price of cash nickel so far this month - $5.22/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper snaps 5-day rally as U.S.-China trade tensions
weigh -
more
Stocks Track Tech Slump in U.S.; Treasuries Gain: Markets Wrap -
more
El Niño ALERT and positive Indian Ocean Dipole continue -
more
Yesterday's market review - Copper edges higher ahead of G20 summit
- Copper rose for a fifth straight session on Monday, with hopes of a resolution
to the U.S.-China trade war outweighing the threat of higher U.S. tariffs
on Chinese goods. -
more
PH miners ride on China's nickel ore hunger, keeps eye on trade war
- China's growing appetite for electric vehicles is helping drive demand
for nickel ore in the Philippines' largest export market for the mineral,
the head of an industry group said Tuesday. -
more
Nickel prices continue to slump - Nickel prices have sagged to the lowest
they’ve been in nearly a year, in large part due to dynamics in China.
-
more
Nickel
Going Through A Rough Patch In 2018 -
video here
Brazil
court orders Vale to pay damages to indigenous tribes - Vale is ordered to
pay $26.8M to two indigenous tribes by a Brazilian court over river contamination
and public health-related issues caused by the company’s nickel-extracting
operations in Pará state. -
more
Courtesy
AISI - In the week ending on November 17, 2018, domestic raw steel production
was 1,924,000 net tons while the capability utilization rate was 82.1 percent.
Production was 1,708,000 net tons in the week ending November 17, 2017 while
the capability utilization then was 73.3 percent. The current week production
represents a 12.6 percent increase from the same period in the previous year.
Production for the week ending November 17, 2018 is up 0.5 percent from the
previous week ending November 10, 2018 when production was 1,915,000 net
tons and the rate of capability utilization was 81.7 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)
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 19
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.15/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell the last two sessions and
started the week just over the 215,300 tonne level. Nickel rose on Friday,
thanks to a statement by President Trump, that hinted at a trade agreement
later in the month. On Saturday, Vice President Pence at the Asia-Pacific
Economic Cooperation summit in Papua New Guinea, renewed the 'double our
tariffs' threat, and commodity markets are reacting this morning. Nickel
is now flirting once again with major support at $5.09/lb, and technical
indicators remain negative. US traders will have a shortened trading week,
with markets closed Thursday for Thanksgiving, and some traders taking advantage
of the holiday to take an extended weekend.
Average price of cash nickel so far this month - $5.23/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Platts - Platts China Steel Sentiment Index slumped to a 28-month low in
November. Expectations for new steel orders in the month ahead, dropped to
15.23 points out of 100 from 46.03 in October.
Commodity/Economic Comments
China Stainless Steel Scrap Market News / Price -
more
Pence's Sharp China Attacks Fuel Fears of New Cold War -
more
(SO) China’s stainless steel output rises by 8.5 percent in Jan-Sept
Stocks Mixed as Treasuries Decline; Pound Advances: Market Wrap -
more
Friday's
market review - Signs of tight supply push copper and zinc higher - Copper
rose on Friday as signs of supply tightness supported prices, but worries
about the outcome of the U.S.-China trade dispute limited gains. -
more
DENR says 9 suspended mines can resume if conditions met - The Department
of Environment and Natural Resources said 9 suspended mines would be allowed
to resume operations if they rectify previous violations of environmental
regulations, a move that could boost nickel output in the major supplier
of the metal. -
more
IMOA Announces World Mo Consumption in Apr-Jun 149.6 Mil. Lbs = Up
by 6% from prior period and production volume is 137.3 million lbs = According
to the announcement made by International Molybdenum Association (IMOA),
the consumption of molybdenum all over the world in the period from April
to June in 2018 was 149.6 million lbs, up by 6% from the prior period. On
the one hand, the production volume was 137.3 million lbs, up by 1% ditto.
-
more
Nornickel
aims to boost output to tap electric car boom - Russian nickel and palladium
producer Norilsk Nickel (Nornickel) plans to ramp up output over the next
five years to tap an expected boom in demand from electric vehicle makers,
its CEO and top shareholder Vladimir Potanin told Reuters. -
more
Nickel West’s battery vision - Addressing the What’s Down the Track
Forum in Kalgoorlie-Boulder yesterday, Mr Terry said a wave of new mine
developments in the northern Goldfields and a push to extend the life of
the smelter’s furnace were helping to safeguard Nickel West’s long-term
production. -
more
Volkswagen to devote 3 German plants to electric car push - German automaker
Volkswagen will convert three factories in Germany to manufacture electric
cars, ramping up production of zero-local emission cars ahead of tougher
European emissions standards, the company said Wednesday. -
more
Norilsk
Nickel begins educational project for children about Russian North - The
Norilsk Nickel Company (Nornickel) plans to launch a new educational project
about the Russian North, the company’s Head of Humanitarian Projects
Yulia Kantor said at the international cultural forum on Friday. -
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 15
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.13/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 fell on Wednesday and started
the day just under the 216,200 tonne level. Nickel is trading higher this
morning, and commodity analysts are crediting rumors that representatives
from China and the US are talking once again, which may increase a potential
trade deal announcement at the G-20 meeting at the end of the month. Other
factors remain quite bearish, with the Euro trading at annual lows, and Chinese
steel futures again falling. This may prove to be little more than shorts
covering their bets, which occasionally causes spikes in an otherwise bearish
market. The rate of LME nickel withdrawals continue to fall, and for the
first half of November they are down to averaging 244.36 tonnes per day.
This isn't exactly surprising, considering last November stockpiles fell
by less than 2,000 tonnes over the entire month. We are already ahead of
that at the half way point of this month. Another day where finding current
news about nickel or stainless steel production and/or consumption was fruitless.
This is our last update for the week, so we hope each of you has a safe and
restful weekend, and hope to see you next week. It will be Thanksgiving week
on this side of the pond.
Average price of cash nickel so far this month - $5.25/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper, aluminium edge up as investors eye potential
Chinese stimulus -
more
Pound Slumps, Stocks Take Hit Amid Brexit Turmoil: Markets Wrap -
more
Wednesday's market review - Base metals tread water on mixed China
data - Base metals held steady on Wednesday as weak retail sales data from
top consumer China took the shine off upbeat industrial output and investment
figures in the country. -
more
China's
Oct crude steel output rises 9% to record 82.55 mil mt - China's crude steel
output in October hit a record 82.55 million mt, up 9.1% on year, data released
by the National Bureau of Statistics on Wednesday showed. The annual growth
rate compares with 7.5% in September. -
more
OSHA
Fines Steel Firm $320K Over Safety Hazards - The company has 15 business
days from the date of receipt of the citations to comply or contest the findings
before the Occupational Safety and Health Review Commission. -
more
Rep.
Layman on decision to grant permits for PolyMet copper-nickel mine - On Nov.
1, the Minnesota Department of Natural Resources announced its decision to
issue numerous permits for the PolyMet copper-nickel mine in Northeastern
Minnesota. -
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 14
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 6:15 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and started today's
session just over the 216,300 tonne level. Nickel can't find its footing,
and continues to slide, although it is trading off yesterday lows of $5.10/lb.
Steel futures in China rebounded slightly last night, but the trend is still
negative. The US Dollar is trading off yesterday's high. which was also the
highest for the year, and the highest since mid 2017. Macro economics continue
to keep the commodity walkway dotted with quicksand. Besides the concerns
we mentioned yesterday, the elephant in the room has been in the 21st century,
and remains, economic growth in China. It's not always easy getting reliable
information from the country, but signs are emerging that things are starting
to slow down there. Will this force the Chinese to make concessions at the
G20 meeting? We still have a few weeks to find out.
Average price of cash nickel so far this month - $5.27/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper falls as China’s Oct retail sales disappoint
-
more
JPMorgan's co-head of metals to leave around end of the year -
more
U.S. budget deficit expands to 100 billion USD in October -
more
U.S. Holds Off on Trump’s Car Tariffs After Trade Meeting, Sources Say
-
more
Stocks Drop as Oil Turns Higher; Pound Fluctuates: Markets Wrap -
more
Tuesday's market review - Copper advances on U.S.-China trade optimism
- Copper prices rose on Tuesday as worries about growth in top consumer China
receded after a report that the country’s chief trade negotiator could
visit the United States before a meeting between the two countries’
leaders. -
more
Ni-base CR SST Market Price in Asia About to Sink below $2,000 CFR
- The prices of nickel (Ni)-base cold-rolled (CR) stainless steel (SST) in
the Asian region have been falling further: the price of SUS 304 to Hong
Kong has gone down to $2,050 CFR. -
more
Traders
forecast bearish outlook for iron ore, steel on weak China economic data
- The steel market responded negatively to mixed economic data out
of China Wednesday, with most tipping a weak end to the year. -
more
LP finance chief in trouble over nickel shipment - The Department
of Environment and Natural Resources has asked the Bureau of Customs to look
into the possible undervaluation of a shipment of nickel ore to China by
Eric Gutierrez of S.R. Metals Inc., who is also the treasurer of the opposition
Liberal Party. -
more
The
EPA Can’t Wait to Reopen the Mine That Poisoned North Idaho - For a
century, the mines of the Coeur d’Alene Mountains in North Idaho produced
much of the heavy metals that made the U.S. a global superpower. -
more
Glencore
to install underground LTE network at Raglan’s Qakimajurq nickel mine
in 2019 - Glencore’s Raglan nickel mine team in Nunavik, northern Quebec
stated recently: “Technology is omnipresent in our personal lives and
has changed our personal lifestyle habits. -
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 13
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.16/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.05/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses slipped by a few tonnes yesterday
and started today's session at 216,600 tonnes. Nickel is trading higher today
and business media seems tobe crediting reports of back door conversations
going on between China and the US over the trade dispute. While there is
no evidence an agreement is imminent, no agreement can be reached without
talks so.... Nickel closed for a second time below support at $5.24/lb and
has yet to make it back up to that point this morning. If you are one of
those who take the technical signals seriously, then a second close below
support is a bearish signal. If this line holds, then look to $5.03/lb for
the next support. Macro economic signals are also adding pressure. The trade
dispute is the major thorn in commodities side right now, but the strength
of the US Dollar and political problems in Europe are also adding negative
pressure. Steel prices in China continue to fall as well. Enjoy a potentially
bullish market today, because the news has been downright negative so far
this week.
Average price of cash nickel so far this month - $5.28/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
US Trade Tensions Will Not Derail Chinese Economy, Commerce Ministry Says
-
more
The Man Who Brought Down a Commodity Giant Says He Acted Alone -
more
Stocks Climb on Trade Talk Hopes; Oil Extends Loss: Markets Wrap -
more
Yesterday's market review - Nickel slumps to 11-month low on stainless
steel worries - Nickel fell to an 11-month low on Monday on worries about
stainless steel, while other base metals were pressured by uncertainty about
the global economy. -
more
Sherritt International sees jump in nickel production and profit -
Sherritt International, has released its 2018 Q3 report, and the numbers
are up, thanks to the success of the company’s Moa joint venture (JV)
with the Cuban Government. -
more
Shipment of Steel by U.S. Mills Declined 7.5% - The combined steel
shipments by the U.S. mills during initial nine-month period of 2018 totaled
71.469 million net tons. -
more
Courtesy
AISI - In the week ending on November 10, 2018, domestic raw steel production
was 1,915,000 net tons while the capability utilization rate was 81.7 percent.
Production was 1,708,000 net tons in the week ending November 10, 2017 while
the capability utilization then was 73.3 percent. The current week production
represents a 12.1 percent increase from the same period in the previous year.
Production for the week ending November 10, 2018 is down 0.1 percent from
the previous week ending November 3, 2018 when production was 1,917,000 net
tons and the rate of capability utilization was 81.8 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)
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 12
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.20/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME licensed warehouse fell on Thursday and Friday and
start the week just over the 216,600 tonne level. Nickel fell sharply on
Friday as traders fret about world events and market data. Nickel closed
below support on Friday and is showing no signs of climbing back to that
point today - at least yet. A US Dollar trading at a year high is also adding
negative pressure on commodity trading in general. US stock futures are pointing
south again today, showing on a more visible scale, the nervousness amongst
traders. China steel futures are lower for a second week, and stainless steel
prices in that country are continuing a down trend. Oil prices are falling
and while that is good news for the consumer at the pump, it is sending markets
a negative economic signal. All in all, not a real cheery start to the week
on the news front... but it is still early. We hope you enjoy your week.
Average price of cash nickel so far this month - $5.30/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Nickel slumps towards 11-month low on stainless
steel worries -
more
Nickel Asia net income surges 35% to P3.54B -
more
Xinhua Headlines: 1978-2018: China's import history through the lens -
more
Peter Peng of CRU Group via Reuters - “Stainless steel prices dropped
a lot in the last two weeks because production is too high...Investors are
quite bearish about the futures market.".
Stocks Slip in Europe; Dollar Strengthens With Oil: Markets Wrap -
more
Friday's
market review - Nickel hits near 11-month low as speculators step up pressure
- Nickel slumped to its lowest price in nearly 11 months on Friday and other
industrial metals slid as speculators unleashed more selling due to worries
about higher U.S. interest rates and slowing Chinese economic growth. -
more
New Caledonia fire follows end of mine blockade - Police in New Caledonia
have opened an investigation into yet another fire at the nickel mine in
Kouaoua - the 14th this year. -
more
Iron
ore’s China import boom seen faltering as peak passes - The great Chinese
iron ore buying machine may be about to falter. Imports of the raw material
that feed the world’s largest steel industry are at risk of shrinking
this year for first time since 2010 even as official figures suggest that
mills are producing unprecedented amounts of steel. -
more
Glencore's radioactive shock for the cobalt market: Andy Home -
Glencore’s Katanga mine in the Democratic Republic of Congo (DRC) was
supposed to transform the cobalt market. -
more
On the
Iron Range, new hopes and new anxieties - For years, residents of this struggling
mining town have clung to the hope that their old way of life would return.
-
more
Steel industry co-products – worldsteel position paper - The World Steel
Association (worldsteel) has published a position paper on the steel
industry’s use of co-products. -
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 8
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.36/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.07/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and started
today just over the 217,000 tonne level. So far, base metal traders have
shown they are less than impressed with Tuesday's election results with the
price of nickel sliding since. To be fair, this is merely the continuation
of a down trend that has been in place since June. Everyone is looking in
the tea leaves trying to figure out what might happen with Presidents Trump
and Xi meet later this month in Argentina. On Monday, President Xi took a
swipe at US policy when he told the China International Import Expo "In
a world of deepening economic globalisation, practices of the law of the
jungle and winner takes all only represent a dead end.” On the other
hand, President Trump has backed off the threats and is implying a deal is
near. Just today, one of China's top diplomat's stated the meeting would
be of great significance. Does that mean something more than the obvious?
Who knows. Maybe, time will tell. Keep an eye on $5.24/lb for support. If
it is tested and holds again, it could sent a positive technical signal,
albeit a weak one. In the mean time, this is our last update for the week,
so we wish you a safe and enjoyable weekend and invite you back next week.
Average price of cash nickel so far this month - $5.33/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper, aluminium prices steady ahead of U.S. Fed
statement -
more
U.S. Stock Futures Slide as Treasuries Advance: Markets Wrap -
more
Wednesday's market review - Zinc falls to 7-week low on expectations
of rising supply - Zinc prices on Wednesday fell to a seven-week low on
expectations that a supply crunch will ease. -
more
Price
Upturn Forecast in North American Stainless Steel Market in First Half of
2019 - MEPS North American average stainless steel transaction values decreased,
in October, due to large reductions in alloy surcharges. -
more
Japan's
Sumitomo Metal cuts FY profit forecast on lower metal prices - Japan’s
Sumitomo Metal Mining Co Ltd posted a 52 percent jump in half-yearly pre-tax
profit on Thursday but cut its full-year forecast, blaming lower-than-expected
metal prices amid the U.S.-Sino trade spat, and reduced nickel output. -
more
LME
Ni Average Price in October Down by 2% from Prior Month =Ni also continues
dropping due to aggravated trade friction between USA and China and large
drop in share prices= LME monthly average nickel price in October 2018 was
Cash seller: US$12,327.17 per ton (US$5.592 per lb) and 3-month seller:
US$12,414.78 per ton (US$5.631 lb). -
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 7
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.39/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and started today
just over the 217,400 tonne level. The US elections are over and the President's
party strengthened his hold on the Senate, but lost the House. The commodity
markets, at least at the moment, appear to be welcoming the news, with nickel
one of a very few trading in the red this morning. The base metals industry
is far more interested in what will come out of trade talks between the US
and China this month. The two will meet later this month in Argentina. President
Trump still holds another $257 billion in tariff's he has threatened to impose
if these talks prove fruitless - although the last time they were used as
a threat, the Dow Jones turned from a positive day, to end up as its worst
trading day of the year. The market sent a message that day - work out an
agreement. Voters sent a split message, but for the most part, a nod of approval
on how he has performed in the first two years of his administration. Look
to $5.24/lb as offering some strong support. It held earlier this week and
has yet to be tested again. Oh ... and we leave our American readers with
this thought. The 2020 U.S. Presidential election? That starts today.
Average price of cash nickel so far this month - $5.34/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper rises as dollar drops on Democrat's
gains in U.S. elections -
more
Baowu says China steel output to hit record level in 2018 -
more
Dollar Drops, Stocks and Bonds Jump After Midterms: Markets Wrap -
more
El Niño ALERT continues; positive Indian Ocean Dipole -
more
Yesterday's market review - Copper slips ahead of U.S. elections, Fed
meeting - Copper prices slipped on Tuesday as the market waited for the result
of the U.S. midterm elections and a monetary policy meeting of the U.S. Federal
Reserve later this week. -
more
Contradictory views on China’s steel output. But only time will tell
if production will rise or fall - Reports by the Australian government and
other economic analysts that Chinese steel production has peaked are at odds
with the expectations by local observers that the government’s
infrastructure push will underpin demand -
more
Market
Trend of Import of Ferroalloy as of 31 October 2018 = Price of manganese
metal drops, and price of FeV stops dropping = The market trend of import
of ferroalloy as of 31 October 2018 is as follows. -
more
Glencore
to go deeper at Sudbury operations - Cleaner. And deeper. That’s the
direction Sudbury Integrated Nickel Operations (Glencore) is heading with
its existing properties, a new nickel mine in the Onaping area and copper
deposits it hopes to develop north of Capreol. -
more
Courtesy
AISI - In the week ending on November 3, 2018, domestic raw steel production
was 1,917,000 net tons while the capability utilization rate was 81.8 percent.
Production was 1,706,000 net tons in the week ending November 3, 2017 while
the capability utilization then was 73.2 percent. The current week production
represents a 12.4 percent increase from the same period in the previous year.
Production for the week ending November 3, 2018 is up 1.0 percent from the
previous week ending October 27, 2018 when production was 1,898,000 net tons
and the rate of capability utilization was 81.0 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)
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 6
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.33/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Monday and started today
just under the 217,700 tonne level. Electronic vehicle sales figures for
October are out and sales for the month increased from approximately 14,300
last year to near 34,100 this year. Worldwide, sales for the month of September
totalled just over 200,000 compared to just under 125,000 last year. That's
a lot of batteries and a lot of nickel being used. Chinese media reports
the stainless steel industry in that country remains weak, with lower demands
and higher inventories forcing some producers to turn to the government for
help. In the US, today is election day, with midterm elections deciding who
will control the House and Senate for the next two years. Nickel is trading
slightly higher this morning, but we are seeing no real reason for the movement,
and trading has been limited to a $150/tonne range so far this session. Technical
indicators remain weak and bearish, although optimism or pessimism about
trade talks between China and the US this month, could add some volatility.
Any trade agreement between these two economic giants that traders approve
of, and we could see the trend shift back to positive. Very slow news day
for the industry.
Average price of cash nickel so far this month - $5.34/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper slips ahead of U.S. elections, Fed meeting
-
more
Ausmon moves in next door to Sconi cobalt and nickel project -
more
Big investors are loving small nickel and copper stocks as electric car market
grows -
more
U.S. Futures Slip With European Stocks; Oil Drops: Markets Wrap -
more
Monday's
market review - Copper slips on profit-taking - Copper led base metals lower
on Monday as investors took profits after the metal used in power and
construction touched a two-week high on Friday. -
more
Price
of HR SST Coil in East Asia Shows Stronger Downward Trend - The price of
nickel (Ni)-base hot-rolled (HR) stainless steel (SST) coil is likely to
fall, reportedly by about $50. -
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 5
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.42/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.07/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on both Thursday and Friday
and started the week just over the 218,400 tonne level. The average rate
of LME nickel withdrawals in the first half of 2018 was 764,30 tonnes per
day. Last month that rate of withdrawal average fell for a second month and
averaged 421.83/tonnes. Nickel rose late last week, thanks in part to a
referendum in New Caledonia and a 'positive' phone call between Chinese President
Xi and US President Trump. The referendum for New Caledonia independence
failed, and the call was downplayed by multiple senior officials over the
weekend as no trade deal was imminent. For the most part, the commodity markets
are in a holding pattern today, with nickel down the most. Mid term elections
are tomorrow and the path of the next two years will be determined. Will
be interesting to see how commodity traders react to tomorrow's outcome.
Other than that - it would appear trading houses have shown their cards,
and the markets are reacting strongly to trade war news.
Average price of cash nickel so far this month - $5.35/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper slips from two-week top -
more
BHP suspends operations after ghost train travels almost 100km -
more
Every U.S. Metal Producer Is Down for 2018, Despite Tariffs -
more
California adds soluble nickel compounds to Prop 65 -
more
Stocks Struggle as Trade Hopes Fade; Pound Rises: Markets Wrap -
more
Friday's
market review - Copper leads metals rally on Trump-Xi trade optimism - London
copper prices rose sharply on Friday, extending a rally from the previous
session after the presidents of the United States and China both expressed
optimism about resolving a trade row between the two countries. -
more
Caledonia referendum puts nickel on watch - Voters in the French Pacific
territory of New Caledonia have rejected a bid for independence in a
closely-watched referendum. -
more
New Caledonia votes to remain part of France: What comes next -
more
Russia:
Moscow Exchange launches trading in non-ferrous metals - The Moscow Stock
Exchange has started trading in futures contracts for non-ferrous metals
(aluminum, nickel, zinc and copper). -
more
PolyMet
secures permit for copper-nickel mine in Minnesota - Poly Met Mining has
secured permits from the Minnesota Department of Natural Resources (DNR)
to move ahead with the proposed PolyMet mining project in northeastern Minnesota.
-
more
DNR's PolyMet permits bring Minn. closer to its first copper-nickel mine
-
more
Mantashe won’t save you, Norilsk tells BCL - Russian metals giant, Norilsk
Nickel says even if BCL secures a positive review from South Africa’s
minerals minister, Gwede Mantashe, in its fight to avoid a multimillion dollar
claim, the battle will go on. -
more
Palmer gets rid of a second judge for Queensland Nickel trial - Clive
Palmer has succeeded in his bid to have a second Supreme Court judge step
down from a three-month trial next year, when liquidators for his failed
Queensland Nickel company will seek to recover millions of dollars owed to
creditors. -
more
LME to test electronic close on other metals if nickel trial succeeds - The
London Metal Exchange (LME) plans to extend a trial of using electronic closing
prices rather than open outcry for nickel to other metals, its chief executive
told the Reuters Global Commodities Summit in London. -
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 1
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.21/lb
. Indicators
at 6:10 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses rose by just a few tonnes on
Wednesday, and started today's session just under the 218,900 tonne level.
Nickel continued to sink yesterday, falling below another line of technical
support ($5.25/lb). At the moment, nickel is back to this line of support,
but just barely. Busy news day for the first day of November. This is our
final update for the week. so we wish you a safe and enjoyable weekend, and
invite you to join us again next week.
Average price of cash nickel so far this month - $5.59/lb (average for
October)
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Shanghai aluminium extends falls to fresh 2-year
low -
more
Europe Stocks, U.S. Futures Advance; Pound Jumps: Markets Wrap -
more
Wednesday's market review - Aluminium hits near 15-month low on slowing
China factory growth - Aluminium fell near a 15-month low on Wednesday, clocking
up a 5 percent loss on the month, after data showed China’s manufacturing
sector grew at its slowest pace since July 2016 and concerns lingered about
excess Chinese supply. -
more
Strong
Growth Predicted for Global Stainless Steel Production - MEPS forecasts that
world crude stainless steel output will reach an all-time high of 51.75 million
tonnes, in 2018. -
more
Molybdenum production & use increase in second quarter -
Global production of molybdenum increased to 137.3 million pounds in the
second quarter of 2018, up 1% from 136.6 million pounds in the previous quarter,
figures released today by the International Molybdenum Association (IMOA)
show. -
more
Glencore PLC Sees A 178 KT Primary Nickel Deficit For 2018 -
Projects A 178 KT Primary Nickel Deficit For 2018 -
more
Price of HC FeCr in China Shows Declining Mood = Major customer submits
lowered price in tender for November purchase = The price of high-carbon
ferro-chrome in the Chinese domestic market rebounded temporarily in the
middle of September, but immediately stopped rising and remained without
changing in October. -
more
Mining Veteran Wants to Build a $1 Billion Battery Metals Giant - South African
mining veteran Brian Menell wants to build a battery material giant to help
challenge China’s domination of the nascent industry. -
more
Sumitomo lowers nickel output forecast at Ambatovy mine in Madagascar - Japanese
trading house Sumitomo Corp on Thursday lowered its forecast for nickel output
at its Ambatovy project in Madagascar to slightly above 40,000 tonnes in
the year to March 31, below its projection in May of 48,000 tonnes. -
more
Nickel Mines scores a big tax break for Indonesian stainless steel project
- Nickel Mines’ Indonesian partner will not have to pay income tax for
the first seven years of operation of its stainless steel project. -
more
Queensland Nickel proceedings a witch hunt: Palmer - Businessman Clive
Palmer speaks to the media outside Brisbane Supreme Court on Wednesday. Palmer
indicates he'll move to stop legal proceedings involving Queensland Nickel,
claiming there's been an "abuse of process". -
more
'Otherwise inadmissible': Judge asks why Palmer is representing himself -
more
Morning Nickel
Price Statistics & Figures
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Trading"...pdf here(all ton listings are metric
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Daily
Nickel/Stainless Steel Briefing
(7:00 AM CST is 12 PM in London)
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
Reports
Commodity/Economic Comments
Yesterday's market review - Zinc regains ground after plunging to 10-week
low - Zinc prices rose on Wednesday as falling stockpiles and rising premiums
for nearby metal highlighted a short-term supply squeeze, halting a slide
to 10-week lows. -
Ni
SUS Scrap Price in Late November Starts with JPY115,000 - JPY120,000 = Many
of customers stop buying = As of November 20, the stainless steel mills in
the Kanto area purchase nickel-containing stainless steel scraps (SABOT)
at somewhere between JPY115,000 and JPY120,000 per ton (delivered at plant).
-
Mincor
chief confident of robust nickel growth - Incoming Mincor Resources managing
director David Southam is looking beyond recent turbulence in the nickel
price after the respected Western Areas director was announced as its new
head, saying he is confident in the long-term outlook for the base metal.
-
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb
Russia's Potanin to appeal UK court decision in battle of billionaires
- Russian businessman Vladimir Potanin plans to appeal a London court decision
to block him from buying shares in mining company Norilsk Nickel from fellow
investor Roman Abramovich, representatives at Potanin’s investment firm
said on Tuesday. -
Probe
Into Ramu Nico - Madang Governor Peter Yama has commissioned a team of
environmental experts to immediately conduct an environment damage assessment
on the Ramu nickel mine. -
Press
Release - For the month of December 2018, North American Stainless will reduce
the fuel surcharge to 27% for stainless flat and long products. The surcharge
rate is considered a maximum level for December, and will be reviewed monthly.
-
Chinese
ferromoly prices fall as inspection-driven supply fear recedes - Chinese
spot ferromolybdenum prices have peaked off from end October levels as fear
of environmental inspections resulting in plant closures receded, market
sources said Wednesday. -
Aussie
battery metals group plugs-in to Centaurus’ Brazilian nickel-cobalt
discovery - Centaurus Metals has struck what it describes as a
“game-changing” joint venture deal with Australian battery metals
process group Simulus Group to underpin the development of its recently
discovered Itapitanga nickel-cobalt project in Brazil. -
More arrests in New Caledonia mining town - Several people have been taken
in for questioning in the New Caledonia mining town of Kouaoua, which has
been the scene of arson attacks this year. -
Goldman
Predicts Commodities Will Soar in 2019 - Commodity bull Goldman Sachs Group
Inc. is undaunted by the sell-off in raw materials and is forecasting returns
of about 17 percent in the coming months, describing the current situation
as unsustainable and touting this week’s G-20 meeting in Buenos Aires
as a potential turning point. -
BASF plans to lower nickel ratio in batteries - BASF is attempting to lower
the nickel ratio in battery chemistry and also to work towards zero cobalt
content. The goal is to reduce costs while supplying the growing market for
cathode materials for electric vehicle batteries. -
WBMS - January to September 2018 Metals Balances - The Nickel market
was in deficit during January to September 2018 with apparent demand exceeding
production by 33 kt. In the whole of 2017 the calculated deficit was 41.3
kt. Reported stocks held in the LME at the end of September 2018 were 138
kt lower than at the end of the previous year. -
The investment case for nickel: In charge with electric vehicles - The world
is changing at a rapid pace. Over the next decade, we expect five key megatrends
to shape the framework in which we live. The marriage of two of these key
megatrends – (1) technological innovation and (2) climate change builds
the case for electric vehicle (EV) adoption. -
PH miners ride on China's nickel ore hunger, keeps eye on trade war
- China's growing appetite for electric vehicles is helping drive demand
for nickel ore in the Philippines' largest export market for the mineral,
the head of an industry group said Tuesday. -
Nickel prices continue to slump - Nickel prices have sagged to the lowest
they’ve been in nearly a year, in large part due to dynamics in China.
-
Nickel
Going Through A Rough Patch In 2018 -
Glencore
to install underground LTE network at Raglan’s Qakimajurq nickel mine
in 2019 - Glencore’s Raglan nickel mine team in Nunavik, northern Quebec
stated recently: “Technology is omnipresent in our personal lives and
has changed our personal lifestyle habits. -
Mantashe won’t save you, Norilsk tells BCL - Russian metals giant, Norilsk
Nickel says even if BCL secures a positive review from South Africa’s
minerals minister, Gwede Mantashe, in its fight to avoid a multimillion dollar
claim, the battle will go on. -
Glencore PLC Sees A 178 KT Primary Nickel Deficit For 2018 -
Projects A 178 KT Primary Nickel Deficit For 2018 -
Mining Veteran Wants to Build a $1 Billion Battery Metals Giant - South African
mining veteran Brian Menell wants to build a battery material giant to help
challenge China’s domination of the nascent industry. -
Sumitomo lowers nickel output forecast at Ambatovy mine in Madagascar - Japanese
trading house Sumitomo Corp on Thursday lowered its forecast for nickel output
at its Ambatovy project in Madagascar to slightly above 40,000 tonnes in
the year to March 31, below its projection in May of 48,000 tonnes. -
Nickel Mines scores a big tax break for Indonesian stainless steel project
- Nickel Mines’ Indonesian partner will not have to pay income tax for
the first seven years of operation of its stainless steel project. -
