This page is archived news covering the period of October 2012
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Daily Nickel Market News & Stainless Steel Prices

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Nickel PricesStainless Steel News

Wednesday, October 31

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $7.31/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.10/lb higher, with all London traded base metals trading higher this morning. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now totals just over 129,600 tonnes. Base metals are experiencing a relief rally after the US Dollar falls on storm damage and the expectation of more stimulus needs. After being closed for two days, US stock markets re-open today and futures show traders are happy to be back in business. If nickel's bounce sticks, we show its first level of resistance is at $7.77/lb.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper climbs for 2nd day, but eyes worst month since May - more
  • LME Morning - 'Oversold' base metals make solid gains with US markets set to reopen - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Sucden Financial Ltd Nickel Report - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.95
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Copper Climbs Most in Six Weeks on Suggestion of Asian Revival - more
  • (China) Firms gloomier about economic prospects for next 12 months - more

   SMM/Mitsui Not To Undertake Additional Investment To Goro Project = For the additionally required costs of repair work; ownership interest of the two drops to 14.5% from 21% - Mitsui & Co., Ltd. and Sumitomo Metal Mining Co., Ltd. decided not to undertake additional investment in the Vale New Caledonia Nickel Cobalt Project in New Caledonia (Goro Project) at this time to cover repair work from equipment troubles. - more

   Nickel miners outshine gold - The United States Federal Reserve’s open-ended quantitative easing (QE) program got everyone excited about the prospect of inflation and the anticipated boost to commodity prices associated with it. - more

   Russia's Norilsk co-owners in talks over dispute - CEO - The co-owners of Russia's Norilsk Nickel have resumed talks to resolve a four-year dispute over control of the world's largest nickel and palladium miner, the CEO of the company said on Wednesday. - more

   Steel makers facing continued difficulties - Domestic steel companies are still facing a gloomy fourth quarter despite signs of improvement in the economy, experts said Tuesday, after major steel producers reported disappointing third-quarter results. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Tuesday, October 30

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $7.31/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals also trading higher. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just over the 129,700 tonnes level. The US northeast is awakening and assessing the damage left by Hurricane Sandy. Wall Street is closed for a second day, with much of New York City without power. US market news is very light with many national wire services based in the storm affected area. Base metals appear to be drifting, awaiting delayed US economic reports and the US election to give direction.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Copper, aluminium recover from lows but Hurricane Sandy hurts liquidity - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Sucden Financial Ltd Nickel Report - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.04
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Experts bullish on crude, nickel, zinc; negative on copper - more
  • (PR) Société Territoriale de Participation Industrielle and the ERAMET group have decided by common accord to renew until December 31st, 2013 their agreement as shareholders in Société Le Nickel.
  • (SSY) China's daily crude steel output in the 10-days period of 11-20 October is estimated at 1.999 Mt, rising from 1.916 Mt in first ten days of the month and 1.779 Mt a year ago, according to the China Iron and Steel Association. This compares the all-time high of 2.045 witnessed in early May.

   Outokumpu Stainless Steel Sales Continue Sliding: Q3-2012 = 311,000 tons, down 18% from Q2-2012; EBITDA loss of EUR32 million = On October 24, Outokumpu released results for the Q3 (July - September) of 2012 as follows. - more

   Toledo Mining says Berong Nickel's shipments over 678,000 tonnes - Toledo Mining said today Berong Nickel will generate revenues of US$24.4 mln so far this year from 13 shipments dispatched or now being loaded. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Monday, October 29

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $7.26/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses slipped slightly on Friday and now total just shy of 128,950 tonnes. Hurricane Sandy has paralyzed US markets today, and futures imply it is just as well. Asian markets closed lower and European markets are down sharply this morning as 'troika' inspectors in Greece have called on European bodies to write off a chunk of their loans. Nickel prices continue to freefall, with a second close below $7.35/lb today, implying next support may be $6.90/lb.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits 7-week low on growth, earning worries - more
  • LME Morning - Base metals decline, bleak economic backdrop weighs - more

  Reports

  • Weekly Scoreboard - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Sucden Financial Ltd Nickel Report - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.25
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • World Crude Steel Statistics - pdf here
  • Outokumpu Oyj : Outokumpu special stainless steel provides structural support for the new headquarters of Qatar Foundation - more
  • (FAN) China's exports of stainless steel flat products amounted to 135,166 tonnes in Sep, seeing a growth of 18.8% from that in a month ago, according to statistics from China Customs.
  • (MF) Spain-based Acerinox said that the global stainless steel market touched the lowest point in August and it believed that the recovery would continue into the first quarter of 2013.
  • Economic outlook brightens for China - more

   China's Domestic Nickel Production Falls - September 2012 = Down 6% from August due to still weak demand and summer curtailment = According to National Bureau of Statistics of China, production of nickel by the nickel producing plants located in China during September 2012 was..... - more

   Ore Cargoes From Sierra Leone Seen Unsafe by Insurer - Iron-ore exports from Sierra Leone may be unsafe because the moisture content of the steel-making commodity is too high, creating the risk some shipments may liquefy during transit, the London P&I Club said. - more

   China's crude steel output slows sharply in January-September - The output of China's steel industry slowed significantly in the first three quarters of 2012, according to data provided by the country's top economic planner on Sunday. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Friday, October 26

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at 7.42/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading lower as well. The US Dow was able to squeak out a small gainer yesterday, in an otherwise bearish week. As the week draws to an end the bears are back with a vengeance and Dow futures are down nearly triple digits. European equity markets are lower as well, with metals traders getting caught up in another commodity fall, as the US Dollar gains on economic slowdown fears.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls on growth, demand fears; await US GDP data - more
  • LME Morning - Base metals slip to fresh multi-week lows on worsening sentiment - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Sucden Financial Ltd Nickel Report - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.41
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (Dow Jones) OAO Norilsk Nickel, the world's largest nickel and palladium maker, said Friday that its third-quarter nickel output rose 11% from the previous quarter to 77,414 metric tons.
  • Raw Materials Post Longest Skid Since June: Commodities at Close - more
  • Worst Storm in 100 Years Seen for Northeast U.S. - more
  • Barry Ritzhold, The Big Picture - "In terms of future recession probabilities, I now place us at 60% over the next 18 months. In other words, we are more likely to see a normal cyclical recession before Spring 2014 than not."

   Anglo’s Carroll Quits as First Woman CEO as Miner Lags - Anglo American Plc Chief Executive Officer Cynthia Carroll, the first woman, external hire and non- South African to hold the job, will quit after Anglo lost $14 billion in value in the more than five years she was in charge. - more

   BHP cuts jobs at Australian Nickel West unit; no output impact - World No. 3 nickel producer BHP Billiton has shed jobs at its Australian Nickel West division to cut costs amid a weak global market for the metal, the company said on Friday. - more

  • BHP admits some Nickel West jobs may go - Mining giant BHP Billiton admits some jobs are likely to go at its Nickel West operations in Western Australia. - more

   Madagascar economy to grow as huge nickel project starts-World Bank - Madagascar's crisis-hit economy could grow 2.6 percent next year as inflation slows and it begins work on one of the largest nickel mining projects in the world, the World Bank said. - more

   African Eagle sees Tanzania nickel production in 2016 - African Eagle Resources Plc said on Wednesday it planned to start construction of a nickel mine in Tanzania in 2014, with first production of the metal expected to begin in 2016. - more

   Vale will stay: Analyst - A leading mining analyst thinks Vale is likely to hold onto its Sudbury operations, even though executives with the Brazilian mining company said Thursday it plans to sell underperforming assets to control costs and boost profit. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Thursday, October 25

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $7.42/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb higher, with all London traded base metals trading higher this morning. Stockpiles of nickel stored in LME approved warehouses rose sharply on Wednesday and now total just over the 128,700 tonne level. Markets are getting a major boost this morning as Britain unexpectedly jumped out of its double dip recession in the third quarter. With reports that China may be hitting a soft bottom, traders are betting commodities, as well as equities around the world, are oversold. Most are trading higher.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper retreats from one-week high on firmer dollar - more
  • LME Morning - Base metals pare gains but supported by stronger euro - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Sucden Financial Ltd Nickel Report - more

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.59
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Raw Materials Post Longest Skid Since June: Commodities at Close - more
  • African Eagle sees Tanzania nickel production in 2016 - more
  • (China) Rays of hope for manufacturing - more

   Vale Disappoints as CEO Fights Slumping Output in Brazil - Vale SA, the world’s top iron-ore miner, posted its fifth earnings disappointment in six quarters after Chief Executive Officer Murilo Ferreira failed to stem falling output. - more

  • Vale's Production Results For Q3-2012 = Compared to Q2-2012, Mn ore/alloys up = Vale of Brazil released on October 17 results of production and sales during the third quarter (July - September) of 2012. - more

   Universal Stainless profits down, expects demand to pick up in 2013 - Universal Stainless & Alloy Products said today third quarter profits fell 16 percent on a 7 percent decline in sales. - more

   Eramet expects further profit fall in H2 - French mining and metals group Eramet expects current operating profit to fall in the second half of 2012 compared with the first, hit by weakness in its core nickel and manganese markets. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Wednesday, October 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $7.42/lb . Indicators at 7:00 am CST today show 3 month nickel trading flat , with other London traded base metals trading mixed and subdued. Stockpiles of nickel stored in LME licensed warehouses slipped slightly on Tuesday and now total just over 127,900 tonnes. Markets have turned risk adverse, and while equity markets are getting a bounce from the China HSBC Flash Manufacturing PMI rising to 49.1 in October,  metals traders appear to less impressed.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper up off 6-week low on China optimism - more
  • LME Morning - Base metals drift ahead of key US data releases - more
  • Bloomberg Morning - Copper Jumps Most in a Week on China Manufacturing Data - more

  Reports

  • Oryx Stainless Monthly report - pdf here
  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.76
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Universal Stainless Reports Third Quarter 2012 Results - more
  • (TI) The American Trucking Associations' For-Hire Truck Tonnage Index increased 0.4% in September after falling 0.9% in August. In September, the advanced seasonally adjusted index equaled 118.7 (2000=100). The level in September was the same as in January 2012, so the index has been on a flat trend-line over the past nine months.
  • (SSY) Preliminary data from the US Census Bureau indicate that the country's steel imports fell for a fifth consecutive month to a fresh year-to-date low of 2.2 Mt in September, down 9% from August. However, September's total was still 8% higher than the year-ago level. Total imports in the first nine months of this year of 23.2 Mt were 3.3 Mt higher than those for the corresponding period last year.
  • (MF) It’s reported that the South Korean steel giant Posco planned to raise the production capacity of stainless steel products at its Vietnamese subsidiary to 285,000 tons by 2015 from the current 50,000 tons since the company estimated the demand for cold rolled stainless steel products from Vietnam and Southeast Asia will grow significantly.
  • Outokumpu 3rd quarter results - more
  • Japan's Iron And Steel Production In September - more
  • China's economy has bottomed out - economists - more

   The UN joins Xstrata Nickel mine fray - UN Development Program (UNDP) representative Valerie Julliand yesterday agreed to the Government's request to review the results of the miner Xstrata Nickel Falcondo’s environmental impact study for the Loma Miranda project. - more

   Turkey’s Yildirim Offers $1Billion to Acquire Six Companies - Turkey’s Yildirim Group, a privately-owned diverse industrial company, has made offers totalling $1 billion in the past two months to buy six companies involved in energy, chrome and ports, owner Robert Yildirim told Reuters on Tuesday. - more

   DMCI buys into Berong project - DMCI Mining Corp., a subsidiary of DMCI Holdings, has acquired a 31-percent stake in Nickeline Resources Holdings Inc. for $6.552 million. - more

   Norilsk in strife over power bill - Power retailer Synergy has launched a multimillion-dollar lawsuit against a local subsidiary of Russian resources giant Norilsk Nickel, accusing the company of failing to honour a power contract at its mothballed Black Swan nickel mine near Kalgoorlie. - more

   Norilsk Nickel's lawsuit on deposit tenders postponed until November 15 - The Moscow Commercial Court has postponed until November 15 the preliminary hearings into Norilsk Nickel's lawsuit to declare illegal a watchdog's resolutions on metal deposits tenders in Siberia, the court told the Russian Legal Information Agency on Wednesday. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Tuesday, October 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $7.52/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.12/lb lower, with other London traded base metals trading lower this morning. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and now total just shy of 127,950 tonnes. The exodus from base metal investments continues, and the negative sentiment is affecting equity traders as well. European market are following Asian markets lower, and US futures are trading lower as well. After trading deeply in the red all day yesterday, the Dow saw a 100+ point recovery in the last hour, which gave all the appearance of a desperate move to show a positive day. Nickel traders have yet to pull that off and with support at $7.18/lb, even though nickel appears to be oversold, there is still room for further declines.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slides to 6-week low on dollar, weak China - more
  • LME Morning - Base metals wallow in negative territory on lack of positive drivers - more
  • Bloomberg morning - Copper Rises From Six-Week Low as Industrial Metals Gain - more

  Reports

  • The CHRG Report - pdf here
  • ThyssenKrupp Nirosta November Stainless Steel Surcharge - more
  • AK Steel November Stainless Steel Surcharge - pdf here
  • Allegheny November Stainless Steel Surcharge - more
  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.91
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (Interfax) Power consumption in four of China’s main metals and mining regions rose by more than 10 percent year-on-year in September, according to statistics released by the State Electricity Regulatory Commission (SERC) on Saturday.
  • (SMM) China NPI Producers Keep Offers Firm amid LME Nickel Price Decline
  • (SSY) Global crude steel production in September was unchanged on August and the year-ago level, at 123.6 Mt, according to latest update from the World Steel Association.
  • (MBN) Brazil Exports Sep 2012: Nickel exports down 32%
  • Finnish steelmaker Rautaruukki warns of bigger loss - more
  • Pacific’s late retreat to neutral considered unusual - more

   Freezone Sohar emerging hub for ferrochrome smelters - Freezone Sohar is emerging as a hub for ferrochrome production having attracted a total of four smelters so far, according to high-ranking representative of the operating company. - more

   India Imposes Anti-Dumping Duty On SUS Strip = US$1,491/ton on 400-series flat products from Korea, U.S.A. and EU = India's Ministry of Finance announced on October 6 that it would impose US$1,491/ton as an anti-dumping duty on .... - more

   POSCO not serious about buying Thyssen assets -source - POSCO, the world's fourth-biggest steelmaker, is not seriously considering buying ThyssenKrupp's steel mills in Brazil and the United States, a source told Reuters on Tuesday. - more

   Mining industry awaiting deliverance - The mining industry in the Philippines right now is in a crisis of sorts or, if you prefer, in limbo, meaning it is waiting for some kind of deliverance. - more

   Courtesy AISI - In the week ending October 20, 2012, domestic raw steel production was 1,722,000 net tons while the capability utilization rate was 69.7 percent. Production was 1,781,000 tons in the week ending October 20, 2011, while the capability utilization then was 71.9 percent. The current week production represents a 3.3 percent decrease from the same period in the previous year. Production for the week ending October 20, 2012 is down 0.8 percent from the previous week ending October 13, 2012 when production was 1,736,000 tons and the rate of capability utilization was 70.3 percent.

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Monday, October 22

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $7.69/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb lower, with most London traded base metals trading lower. Stockpiles of nickel stored in LME approved warehouses fell Friday and now totals just under 127,150 tonnes. Worldwide equity markets are mixed this morning, with most European markets slightly higher. US futures are also slightly higher as traders will try to recover from a large 200+ point sell off last Friday. Nickel continues to slide and threatens to erase all of September's gains.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits 1-month low after weak Japan export data - more
  • LME Morning - Metals continue to consolidate, investor caution weighs - more

  Reports

  • Weekly Scoreboard - pdf here
  • Reuters Metals Insider - pdf here
  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.00
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • China's Imports Of Raw Materials In August 2012 - more
  • China's Steel Markets In The 2nd Week Of October - more
  • (MF) Reportedly, the Taiwanese stainless steel market might remain weak this week due to poor demand even though Tang Eng, one of the major stainless producers in Taiwan announced to cut October list prices for 304 grade stainless steel products by NT$1,500/ton on October 17th.
  • (CW) According to the World Corrosion Organization (New York, N.Y.), the annual cost of corrosion worldwide is estimated at $2.2 trillion (USD) — more than 3 percent of the world’s gross domestic product (GDP).
  • United States Rated 10th Best in the World for Growing Businesses - more

   Sudbury nickel mine stops operations at year's end due to falling prices - Operations at the Sudbury mine site where 40 per cent of the nickel used to make allied artillery during the First World War came from will be suspended at the end of the year. - more

  • Contractors hit hardest by Frood mine closure -  Contract workers are clearing out of Vale's Frood mine in Sudbury — an industry observer says will impact mining supply companies as the nickel giant tightens its belt on spending by shutting down its century-old mine. - more

    Sumitomo operation impress local team - A delegation of landowners and provincial reps from Isabel and Choiseul was reportedly impressed at Sumitomo’s nickel operations in the Philippines. - more

   LME to Adjust Warehouse Rules to What’s Good for Broader Market - The London Metal Exchange, the world’s largest metals market, will adjust its warehouse rules to be “what’s good for the broader market,” said Charles Li, chief executive officer of Hong Kong Exchanges & Clearing Ltd. - more

  • LME signs deal on new trading surveillance software - The London Stock Exchange's technology system supplier Millennium IT said on Monday it had signed an agreement to provide the London Metal Exchange (LME) with surveillance software which will allow it to analyze trading patterns. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Friday, October 19

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $7.85/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.11/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME warehouses rose on Thursday and now total 127,500 tonnes. European stocks are trading lower this morning, and US futures are lower. Markets are looking for news that will give trading direction, but at the moment, things appear to be quiet, with uncertainty in control.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning -  Copper pressured by weak euro, Chinese demand uncertainty - more
  • LME Morning - Metals down around 1 pct as European leaders meet, Chinese data disappoints - more

  Reports

  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.08
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • First Nickel Reports Lockerby Nickel Production at 80% of Full Production Rate in Third Quarter, Affirms Full Year Production and Cost Outlook - more
  • (AMM) Vale SA produced 49,000 tonnes of nickel during the third quarter, down 15.7 % from the same period last year due largely to maintenance shutdowns at its mines in Sudbury, Ontario, and Thompson, Manitoba, and operational issues at Onca Puma in Brazil.
  • WTO Appellate Body Affirms Decision That Chinese Duties On Electrical Steel Violated China's WTO Obligations - more
  • Thor Mining starts nickel hunt in the Albany-Fraser Province - more
  • China's Iron Ore Imports In September 2012: This Year's Record Volume At 65 Mt  - more
  • (China) Economy 'may have bottomed out in Q3' - more

   LME WEEK: LME Sale Process Smooth So Far -LME Board Member - The transition of ownership of the London Metal Exchange from its member shareholders to Hong Kong Exchanges and Clearing Ltd. is so far going smoothly, an LME board member said. - more

  • LME WEEK: LME Sale to HKEx Shows 'Overwhelming Logic' - LME CEO - The "overwhelming nature" of the London Metal Exchange shareholder vote that saw Hong Kong Exchanges and Clearing Ltd. approved as the exchange's buyer reflects the "overwhelming logic" of the deal, the LME's chief executive said late Tuesday. - more

   LME wants to add iron ore, coking coal to products-Li - The London Metal Exchange, under ownership of Hong Kong Exchanges and Clearing Limited , aims to expand its product offering beyond base metals to iron ore, coking coal and iron ore shipping, HKEx CEO Charles Li said on Friday. - more

   Central to build smelter with Taiwan firm - Publicly listed nickel miner PT Central Omega Resources signed an agreement on Thursday with Asiazone Co Ltd, a subsidiary of Taiwan-based E United Group, for the creation of a joint venture in the nickel-smelting business. - more

   Japan Ferroalloy Market Report - October 15, 2012 = China seems to have few effective measures to restrict ferroalloy exports to Japan = Market situation of ferroalloys in Japan as of October 15 is as follows. - more

   Price recovery pushing up steel output - China’s daily crude steel output in September recovered from August’s six-month low on the back of rising prices, increasing 2.01 percent month-on-month to 1.932 million tons, according to data released Oct. 18 by the National Bureau of Statistics (NBS). - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Thursday, October 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $7.79/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mostly higher as well. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and now total just over 127,150 tonnes. European markets are lower this morning and US futures are flat, and awaiting weekly employment numbers. Greece is seeing some of their largest anti austerity demonstrations yet this morning and the debt crisis is back in the headlines. Based on the news so far today, expect little out of the market today. Support apparently has held for nickel and this could mean the price receives some positive momentum. Supply and demand are not as favorable for any bullish moves.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - London copper edges up for 3rd day; focus on China data - more
  • LME Morning - Metals mostly stable, China economic figures improve mood - more

  Reports

  • Reuters Metals Insider - pdf here
  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.15
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • Japanese Steel Production (Monthly Statistics for September 2012) - more
  • The lore of ore - more
  • (Reuters) Nickel market in 32,200 T surplus Jan-Aug '12-INSG
  • China's economy grows 7.4% in Q3 - more
  • SMR Monthly Stainless Steel Briefing - more

   Norilsk: Low nickel prices threaten global output - Further supply curtailments are likely in the nickel sector, should the price of the metal not rise from current levels, the deputy general director of Norilsk Nickel's sales arm Normetimpex said in an interview. - more

   China Sept steel, oil output bounce points to recovery ahead - China's crude steel output and refinery throughput rose in September, with higher fixed asset investments and industrial output signalling that appetite for bulk commodities and energy in the world's leading buyer is on the mend. - more

   Vale Losing to Rio Tinto as Iron Output Drops: Corporate Brazil - Vale SA, the world’s largest iron- ore producer, is poised to lose more of its market share after production fell and its biggest rivals ramped up operations. - more

   Steel, Aluminum Shipments Down in September - The slowdown continued in September with both American and Canadian service centers reporting declines in steel and aluminum shipments, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. - more

   South Africa Truckers Strike Continues = NUMSA threatens solidarity action with miners and truckers = The truckers' strike in South Africa may need longer time than originally thought before the drivers go back to work as the situation aggravates. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Wednesday, October 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $7.75/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mixed and mostly reserved. Stockpiles of nickel store din LME approved warehouses fell on Tuesday and now totals just over 127,950 tonnes. European markets are trading higher this morning, while US futures are quiet after a strong week of rebounds so far. Nickel appears to be stuck at a support line with up or down momentum stalled.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips ahead of China data, EU summit - more
  • LME Morning - Metals turn mixed as rally stalls, zinc sets new five-week low - more

  Reports

  • Reuters Metals Insider - pdf here
  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.30
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (SSY) German crude steel production was up 6% on August to 3.56 Mt in September, but, significantly, was down 2% from a year ago, according to the country's steel association. Total output in the first nine months of the year of 32.4 Mt was 5% lower than the corresponding period in 2011.
  • (FAN) Stainless scrap prices continue to fall due to weak end-user demand and softening raw material prices. Demand is really in the toilet right now, one dealer said.
  • China daily steel output rises 4 pct in early Oct  - more
  • BHP iron ore output shows clout of mega miners - more

   China Nickel Demand to Lag Growth in Steel Output - Analyst - Chinese demand for nickel, a key ingredient in stainless steel, is likely to lag growth in the country's steel market considerably as producers turn increasingly to scrap for use in their products, the chief analyst at Beijing Antaike Information Development Co. Ltd. said Wednesday. - more

   Xstrata total nickel output stable in Q3, ferronickel output up - Xstrata's nickel production for the third quarter of 2012 was in line with the year-earlier period, the Switzerland-based producer said Wednesday. - more

   LME Says It Can’t Take Short-Term View on Metal Warehouse Waits - The London Metal Exchange said it can’t afford a short-term view on waiting times at its warehouses as Hong Kong Exchanges & Clearing Ltd., which is buying the bourse, said it’s focused on the issue. - more

   Norilsk Nickel’s ships are plowing the Northern Sea Route - Since the beginning of this year’s navigation the vessels owned by MMC Norilsk Nickel have made 54 sailings on the Northern Sea Route as of October 1st, the company press release said. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Tuesday, October 16

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $7.75/lb . Indicators at 7:00 am CST today show 3 month nickel trading flat , with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME approved warehouses rose sharply for a second day and now totals just under the 128,550 tonne level. This is the first time stockpiles have been over 128,000 tonnes since March 2011. Volumes on the London Metal Exchange have been lower so far this week, as LME traders celebrate LME Week. Greece and Spain saw their borrowing costs fall in morning auctions, and European markets are trading higher. US futures show a positive opening for Wall Street. Nickel has hit short term support at $7.75/lb, and it would appear the positive momentum from equity markets could help nickel rebound. Growing stockpiles however, add a negative factor for traders to consider.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper firms from 1-month low on stronger equities, euro - more
  • LME Morning - Metals mixed, market grapples with short-term uncertainty - more

  Reports

  • Reuters Metals Insider - pdf here
  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • U.S. Exports of Stainless Steel Mill Products - more
  • China E-Stainless Steel Daily Price Index - 93.44
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (SMM) Jinchuan Group Cuts Ex-works Nickel Prices to RMB 126,000/mt Oct.16
  • (CEIS) China nonferrous metals prices fall 0.4 pct week on week in Oct. 8-14, MOC
  • (MF) According to foreign media reports, the data released by the Japan Iron and Steel Federation (JISF), Japan August exports of stainless steel 91,469 tons, a decline of 3%
  • (MP) Finnish nickel miner Talvivaara has reduced its annual production target for the second time in three months.
  • Rio, Fortescue drive iron ore output despite China risks - more
  • Copper Gains as Report May Show U.S. Output Returned to Growth - more

   Norilsk sees low nickel prices cutting world output - Russia's Norilsk Nickel , the world's largest nickel and palladium miner, expects more nickel producers to cut capacity if prices stay at current low levels. - more

   At independent LME swansong, rings eye China future - The London Metal Exchange may be hosting the last LME Week as an independent concern but, like the tuxedos being dusted off for the annual beanfeast, other traditions may not just survive but thrive under Chinese ownership. - more

   Greece prepares second wave of privatisations - Greece plans to launch tenders to sell or lease a string of state assets, including its biggest refiner and two largest ports, as it battles to pay down debt and meet the terms of an international bailout. - more

   South Africa Trucker's Strike Causing Force Majeure = On Cr Ore/Mn Alloy shipments: Assmang = Three weeks have passed since the strike by truckers unions began in South Africa, causing ferroalloy producers to declare force majeure on some of the shipments. - more

   Courtesy AISI - In the week ending October 13, 2012, domestic raw steel production was 1,736,000 net tons while the capability utilization rate was 70.3 percent. Production was 1,781,000 tons in the week ending October 13, 2011, while the capability utilization then was 71.9 percent. The current week production represents a 2.5 percent decrease from the same period in the previous year. Production for the week ending October 13, 2012 is down 1.2 percent from the previous week ending October 6, 2012 when production was 1,757,000 tons and the rate of capability utilization was 71.1 percent.

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Monday, October 15

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $7.75/lb . Indicators at 6:55 am CST today show 3 month nickel trading around $.11/lb higher, with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses had another large gain on Friday and now totals just under the 126,350 tonne level. China released some upbeat trade numbers over the weekend, and European markets are higher this morning and US futures are positive as well. Wall Street just suffered its worst week in four months, and will be looking for a rebound. Nickel appears to be starting the week in oversold territory.     
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters morning - Copper falls on China stimulus uncertainty - more
  • LME Morning - Metals sag on economic pessimism, downbeat mood for LME Week - more

  Reports

  • Reuters Inside Metals - pdf here
  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • Weekly Scoreboard - pdf here
  • China E-Stainless Steel Daily Price Index - 93.59
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • (TET) To reflect the weaker-than-anticipated global demand environment over the year to date, Goldman said it moderately downgraded its three-, six- and 12-month aluminium, nickel and zinc forecasts.
  • Bullish Wagers Drop to Eight-Week Low Before Rally: Commodities - more
  • (China) Steel product exports see support from emerging economies - more
  • Growth downturn hits global firms - more

   Nickel Stock Financing May Help Limit Glut and Support Prices - Nickel is staying in surplus through at least 2015 and traders may be tempted to use the metal in financial transactions similar to deals in aluminum and zinc, helping to boost prices, Standard Bank Plc said. - more

   CRU Sees China Leading Metal Demand Growth as Europe Struggles - China will support a “healthy” expansion in global demand for industrial metals even as European usage fails to match pre-financial crisis levels in the next several years, according to research company CRU. - more

   Anti-dumping duty on stainless steel import from EU, US, S. Korea - The Finance Ministry has imposed definitive anti-dumping duty on flat products of stainless steel imported from South Korea, the European Union and the United States. - more

   Turkish Chrome Ore Exports - September 2012 = Almost unchanged from August = Turkey's exports of chrome ore during September 2012 were 110,861 tons, 84 tons less than 110,945 tons exported in August. - more

   Talvivaara warns on nickel output,shares fall - Finnish miner Talvivaara warned on Monday its nickel production this year was likely to fall short of its already reduced 17,000-tonne target due to heavy rains diluting its leach solution, sending its share price down 6 percent. - more

  Morning Nickel Inventory and 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
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Friday, October 12

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $8.02/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.16/lb lower, with all London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses roe on Thursday and now total just over 124,600 tonnes. The EU won the Nobel Peace Prize this morning, but markets are trading lower. US futures are slightly higher, as Wall Street tries to shake a losing streak. Lack of demand appears to be catching up with nickel traders as their bull run loses footing.
  • Have a safe and relaxing weekend!
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper down, eyes weekly loss on growth worries - more
  • LME Morning - Base metals softer ahead of Chinese data this weekend - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Sucden Financial Ltd Nickel Report - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.70
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (DJ) Credit Suisse Lowers 2012 Nickel Forecast 0.9% to $17,791/ton ($8.07/lb)
  • (DJ) HSBC: Ups 2013 Nickel Price Forecast 1% To $8.50/lb
  • (Dow Jones) Nickel Asia's Nickel Shipments in January-September Rose 16% on Year
  • (BoA) Steel prices rebounded by 4.7% after the Chinese Golden Week, primarily driven by 1) traders restocking; 2) recovering iron ore prices; 3) better sentiment.. Our channel check suggests that end-user demand shows no signs of recovery yet. Hence we expect the price rebound to be short-lived.
  • (SSY) The latest Short Range Outlook from the World Steel Association shows global apparent steel use (ASU) in 2012 is set to rise 2.1% year-on-year, noticeably slower than worldsteel's April's forecast of 3.6%. The debt crisis in the eurozone and a sharper-than-expected slowdown in China both contributed to the weaker outlook. Worldsteel forecasts that global ASU will increase by 3.2% in 2013.
  • Evraz freezes Czech steel production due to low demand - more
  • S.Africa truckers sign wage deal, strike off - more
  • Chinese households report falling confidence: BoComm - more

   Metal-Lynx to launch for stainless steel industry - A new online exchange called Metal-Lynx is to launch in early 2013 for trading metals related to the stainless steel industry and will enable participants to establish personalised networks for conducting transactions. - more

   China SUS Mills Ferrochrome October Prices = Jiuquan rolls over, while Baosteel cuts RMB150/ton = There has been no news in the ferrochrome market since the Chinese National Day holidays started on September 30 (until October 7). - more

  • China turns away from ferrochrome imports on lower domestic price - China's demand for ferrochrome imports failed to pick up after the holidays, as domestic prices were still lower than overseas prices, industry sources said late Thursday. - more

   Baosteel keeps November prices unchanged  - Baoshan Iron & Steel Co. Ltd. (Baosteel) said Thursday it will keep ex-works prices for most products unchanged in November, suggesting the bellwether steelmaker remains cautious on the near-term outlook for the market. - more

   Ibris Nickel to Invest $1.8b for Refinery - Ibris Nickel, an Indonesian holder of a mining business license, plans to invest some $1.8 billion to build a refinery in Bulungan district, East Kalimantan, the company’s chief operating officer said on Thursday. - more

   Zuma Says South African Mine Strikes Have Significant Impact - South African President Jacob Zuma said mining strikes are having a “significant” impact on an economy already struggling to cope with Europe’s debt crisis. - more

   Zimasco to shrink chrome operations - Subdued demand for ferrochrome, worsened by the global economic crisis that has hit most developed economies, has forced Zimasco — the Zimbabwean integrated ferrochrome producing division of Sinosteel Corporation — to scale down its chrome mining and smelting operations to 40%. - more

  • Chrome mining on the brink of collapse -  Zimbabwe's decision to lift the ban on raw chrome ore exports will not be enough to save the country’s chrome miners, as the industry teeters on the brink of collapse due to deepening viability challenges, experts have said. - more

   Brazil's Vale's challenges go beyond iron ore - Roger Agnelli, who was forced out as chief executive of Brazil's Vale in May 2011, may have been lucky to leave the world's second-largest mining company when he did. - more

  China's iron, steel producers suffer losses - Large and medium-sized iron and steel companies across the country suffered combined losses of 3.18 billion yuan ($508 million) in the first eight months of the year, according to the China Iron & Steel Association. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Thursday, October 11

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $8.02/lb . Indicators at 7:00 am CST today show 3 month nickel trading flat   with no change, while other London traded base metals are trading higher. Stockpiles of nickel gained slightly and now totals just over 124,350 tonnes. European markets are higher this morning on a recovering Euro, while US futures show Wall Street may open higher on a rebound. Standard & Poors downgraded Spain to just above junk status, but markets appear to be unconcerned - at least for today.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steadies from two-week low, growth woes cap gains - more
  • LME Morning - Base metals cautiously higher after euro comes off low - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.80
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (SBB) PT Indoferro, part of Indonesian rebar maker Growth Steel Group, aims to have its 300,000 tonnes/year nickel pig iron plant at Cilegon, in Java's Banten province, running at full capacity by December. Current production is at 80%, a company official said.
  • (SSY) The world Hot Rolled Band (HRB) export price was down $10/t from two weeks ago to $532/t, the lowest level since December 2009, according to the latest SteelBenchmarker from World Steel Dynamics. The fall of the HRB price in US during the last two weeks has been more severe, declining $25/t to $667/t, its lowest level since November 2010, while the EU price slipped $9/t during the same period to $616/t. By contrast, the Chinese HRB price recovered $20/t to an 11-week high of $495/t. However, this is still $114/t lower than the year-ago level.
  • (SBB) ThyssenKrupp has concluded the first round of receiving proposals for its Brazilian slabmaker Companhia Siderúrgica do Atlântico (CSA) and the sheet rolling mill in the US, with at least five companies interested in buying one or both assets.
  • (Dow Jones) Specialist information provider Metal Pages will next year launch an online exchange for trading metals related to the stainless steel industry, it said Thursday. The new exchange, called Metal-Lynx, will initially focus on the physical trade of metals, such as ferro-alloys, which are used by the steel industry. Later, metals such as nickel, zinc and tin will also be included.
  • (MDN) Danaher Corp. , Washington, DC, and Cooper Industries, Dublin, Ireland, have agreed to sell Apex Tool Group to Bain Capital for $1.6 billion. Danaher and Cooper currently maintain a 50 percent joint ownership interest in Apex.

   Prices Of CR Austenitic Stainless Sheets In Asia Hovering At $200 Up - The Japanese mills are offering price up of $200 in negotiations on cold-rolled (CR) austenitic stainless steel sheets in the Asian area while as each customer is showing a stance to accept prices increase of $100 to 150 but showing its reluctance to be increased by more than such level, negotiations are locked in a tug-of-war over $150 to 200 increase. - more

   China crude steel output falls in Sept, may rebound in Oct - China's average daily crude steel output fell to 1.843 million tonnes between Sept 21-30, down 0.74 percent from the preceding 10 days, data from the China Iron & Steel Association (CISA) showed on Thursday. - more

   RPT-Bucking the trend, LME looks at expanding floor trading - The London Metal Exchange may add morning rounds of open-outcry trading for its unique futures contracts, senior trade sources say, as the new Hong Kong-based owners plot their first major move to hold off intense competition from their Shanghai rival. - more

   South African Charge Chrome Q4 Benchmark For Europe Cut US‘15/lb = To US$1.10/lb Cr, down 12% from Q3 = Merafe Resources, South Africa, a partner with Xstrata in Xstrata-Merafe Chrome Venture, announced on October 4 that the benchmark price for charge chrome shipments to Europe during the Q4 (October - December) of 2012 was settled at US$1.10/lb Cr, after negotiation with major European stainless steel producers, down 12% from the preceding quarter. - more

   Zimbabwe: BNC Begins Road to Recovery - After four years of inactivity, Bindura Nickel Corporation is racing to restart after the group successfully raised US$23 million through a rights issue to assist the recapitalisation of the mine. - more

   Earthquake causes rock fall at Perseverance underground nickel mine - A magnitude 3.0 earthquake caused a rock fall at BHP Billiton's Perseverance underground nickel mine in Western Australia's Goldfields on Sunday night. - more

   Toxicity of Mindanao mining sites is 3,000x above int'l safety limit –FoE - Hexavalent chromium —a highly toxic carcinogenic compound made famous by the movie, Erin Brokovich— has reared its ugly head in a big way in Mindanao. - more

   India loses $40 billion a year due to corrosion in infra - India loses more than USD 40 billion a year - about 4 percent of the size of the total economy - due to corrosion in infrastructure and industry segments, ONGC CMD Sudhir Vasudeva said Wednesday. - more

   Norilsk Discounted as Billionaire Feud Ignited: Russia Overnight - OAO GMK Norilsk Nickel, the Russian metals company at the center of a dispute between two billionaires, tumbled in New York to the cheapest level versus emerging-market mining stocks since 2010 after its conflict with United Co. Rusal intensified. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Wednesday, October 10

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $8.13/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb lower, with all but copper trading lower this morning. Copper is trading slightly higher at the moment. Stockpiles of nickel held in LME approved warehouses rose on Tuesday and now total 124,350 tonnes. The Euro just recently jumped which could give metals some positive momentum. Markets are still trying to understand the ramifications of yesterday's IMF economic warning.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper down on weak China demand; aluminium to 1-mth low - more
  • LME Morning - Metals retreat on cloudy economic outlook, most set one-mth lows - more

  Reports

  • IMF World Economic Outlook - more
  • WorldSteel 2012 Sustainability Indicators show steady improvement - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.85
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • 304 Stainless Sabot Daily Scrap Pries - more
  • European Debt Crisis Live - more
  • (FAN) Processor buying prices for stainless steel scrap have fallen amid weak domestic mill demand and a downward trend in raw materials pricing.
  • IMF Sees ‘Alarmingly High’ Risk of Deeper Global Slump - more
  • Europe Stocks Drop With Metals on China Concern; Rand Advances - more

   Baosteel keeps prices steady for 2nd month, surprises market - Baoshan Iron and Steel , China's largest listed steelmaker, will keep prices of its main products unchanged for a second straight month in November, surprising the market that was expecting a hike given recent gains in spot prices. - more

   Dafeng Port gets nods for Indonesian ferronickel project - China’s National Development and Reform Commission (NDRC) on Monday gave approval for Jiangsu Province’s Dafeng Port Group Co. to invest in a ferronickel project in Indonesia. - more

    Japan SUS Product Exports Decline Continues - August 2012 = Down 3% from July; exports to China and Korea stay depressed = Japan Iron and Steel Federation compiled the Trade Statistics released from the Ministry of Finance into the table as attached hereto with regard to Japan's exports of stainless steel products during August 2012. - more

   Madagascar braces for windfall from nickel and cobalt exports - Madagascar is bracing for billion dollar revenue with its flagship Ambatovy mining project set to start exports of nickel and cobalt whose extraction is expected to last 30 years. - more

   Courtesy AISI - In the week ending October 6, 2012, domestic raw steel production was 1,757,000 net tons while the capability utilization rate was 71.1 percent. Production was 1,792,000 tons in the week ending October 6, 2011, while the capability utilization then was 72.5 percent. The current week production represents a 2 percent decrease from the same period in the previous year. Production for the week ending October 6, 2012 is down 1.3 percent from the previous week ending September 29, 2012 when production was 1,780,000 tons and the rate of capability utilization was 72.0 percent.

   Russia's RUSAL wins Siberian court ruling against Norilsk - Russian aluminium group RUSAL has won a legal claim against Norilsk Nickel , the world's top nickel and palladium producer, which it partly owns, signalling that long-running tensions with its other owner may escalate. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Tuesday, October 9

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $8.20/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb lower, with all London traded base metals trading quietly and mostly slightly lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now totals just under 124,250 tonnes. The International Monetary Fund lowered its growth prospects and showed increased risks of another worldwide recession earlier today. Turkey and Syria are coming close to a full fledged conflict after another day of cross border bombardments. Speaking of armies, Greece brought in 7000 police to protect German Angela Merkel ,who is in Athens today for a state visit.  Markets will need some sort of trigger to do anything dramatic today.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips on weak economy, China stimulus hopes cap falls - more
  • LME Morning - Metals on the defensive, wider economic pessimism weighs - more

  Reports

  • Japan Iron and Steel Federation - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.83
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • IMX acquires nickel partner - more
  • Global Metals Exploration finds nickel/copper zone in WA - more
  • Copper Consumption in China to Drop for First Time Since ‘08 - more
  • NFIB Small Business Economic Trends, October 2012 - more

   Macrolink uncovers large nickel deposit in Xinjiang -  Privately-owned Macrolink Mineral Inc. has discovered a 1.28-million ton nickel deposit in the Xinjiang Uygur Autonomous Region that adds significantly to China’s total reserves and will help alleviate tight domestic supplies of the steelmaking metal, state media report.- more

    BHP Billiton to Cut Jobs, Redeploy Staff in Iron Ore Division - BHP Billiton Ltd.'s (BHP) efforts to control costs in the face of weaker demand for key industrial commodities has shifted to cutting jobs at its Australian iron ore operations, the biggest driver of earnings for the world's largest mining company. - more

    PM lauds Ramu Nickel - Prime Minister Peter O’Neill has announced that Ramu Nickel will most probably start producing world class nickel by end of this year or early next year. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Monday, October 8

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $8.26/lb . Indicators at 7:05 am CST today show 3 month nickel trading around $.12/lb lower, with all London traded base metals trading lower this morning. Stockpile s of nickel fell on Friday and now total just over 124,500 tonnes. World markets are mostly lower this morning on a forecast by the World Bank that China may not recover as fast as earlier forecast. China has returned to work after a week long holiday.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper at 1-wk low on firm dollar, renewed growth worries - more
  • LME Morning - Metals consolidate, China's return triggers correction - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • Russia exported 168,500 metric tons of nickell in the first 8 months of 2012, 1.9 times the amount exported during the first eight months of last year.
  • (Merafe) Shareholders of the Company are advised that the European benchmark ferrochrome price has been settled, after negotiation with major European stainless steel producers, at $1.10 per pound for the fourth quarter of 2012, a decrease of 12% from $1.25 per pound in the third quarter of 2012.
  • (MF) The Malaysian Iron and Steel Industry Federation predicted that the total production of cold rolled (CR) stainless steel in Malaysia, Thailand, Indonesia and Vietnam, the four countries in the Association of Southeast Asian Nations is expected to reach 1.235 million tons in 2015, surging sharply from 400,000 tons in 2010.
  • (Reuters) Mwana Africa finds high-grade nickel at Trojan mine
  • (MF) Tang Eng, one of the major stainless steel producers in Taiwan announced to raise its domestic prices for 300 grades stainless steel hot rolled and cold rolled coils by NT$4,500/ton for October, according to the official of the company.
  • (MF) It’s reported that South Korean steel giant Posco announced to raise its list prices for austenitic hot rolled and cold rolled coils by 200,000 won/ton for October contracts, in response to sharply rising nickel prices.
  • (Dow Jones) One of BHP Billiton Ltd.'s (BHP) nickel mines in Western Australia has been suspended after a rock fall on Sunday forced the evacuation of 79 workers at the underground operation.
  • WB lowered China's growth estimate to 7.7% in 2012 - more

   ASIA MOLY OXIDE: China's return after long holiday fails to revive demand - Asian molybdenum oxide market saw little trading activity Monday despite Chinese buyers returning to work after the week-long National Day holiday. - more

    BHP Billiton Evacuates Australia Nickel Mine After Rock Fall - One of BHP Billiton Ltd.'s (BHP) nickel mines in Western Australia has been suspended after a rock fall on Sunday forced the evacuation of 79 workers at the underground operation. - more

   Large nickel ore discovered in Xinjiang - Geological workers have discovered a nickel ore, with nickel reserves of at least 1.28 million tonnes, in Ruoqiang county, northwest China's Xinjiang Uygur Autonomous Region. - more

   Vale to test new Long Harbour plant with foreign ore - Vale says its new nickel plant in Long Harbour will begin production by the end of next year. - more

   Japan Special Steel Demand Forecast For Q4-2012 = Demand from both domestic consumption and exports is to decline = The Ministry of Economy, Trade and Industry of Japan released on September 28, in a lecture held at the Special Steel Club, a forecast of demand for special steel products in Japan during the Q4 (October - December) of 2012, of which details are as per the attached table hereto. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Friday, October 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $8.42/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading mostly lower and quietly. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and now totals just over 124,850 tonnes.Markets are quiet in anticipation of a US jobs report that may or may not stimulate the Euro, which is trading lower at the moment. The US report could trigger some movement, but with China returning to the market next week, we expect the overall tone to remain bullish.
  • Have a safe and relaxing weekend! 
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steady on euro, U.S. jobs data in focus - more
  • Bloomberg morning - Copper Cuts Weekly Advance Before U.S. Employment Data - more
  • LME Morning - Base metals consolidate ahead of US data, copper prices stall - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more

   Indonesia sets Dec deadline for mine permit approvals - Indonesia's central government has fixed a December deadline to approve thousands of mining business permits, a tight timeframe that threatens to shut out many junior miners and extend a slump in exports of metal ore from Southeast Asia's largest economy. - more

   Cliffs smelter concerns committee - A group of concerned citizens, comprised of people who are all “pro-Cliffs,” will hold a public meeting Oct. 15 in Capreol to strike a formal committee to hold the company's and government's feet to the fire on the issue of environmental health and safety. - more

   WA nickel exploration down in line with lower prices - Nickel exploration expenditure was likely to decline next year because of lower commodity prices, Western Australian Mines and Petroleum Minister Norman Moore said on Thursday. - more

   Factbox: South African firms hit by labor strife - Nearly two months of labor unrest that started in South Africa's platinum mines have spread across the sector and appear to be spilling into other parts of the economy such as manufacturing. - more

   Deputy Sheriff attaches Zim Alloys property - Zimbabwe's sole ferrochrome producer Zim Alloys had its property valued at over $500 000 attached by the Deputy Sheriff last Friday over unpaid electricity bills. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Thursday, October 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $8.40/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.12/lb higher, with other London traded base metals also trading higher. Stockpiles of nickel stored in LME approved warehouses fel on Wednesday and now total just over 123,100 tonnes.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rises on stronger euro; Spain, U.S. data in focus - more
  • LME Morning - Metals advance with euro, anticipate positive US jobs data on Friday - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • (JMD) NSSC/ To raise store sales price of cold-rolled nickel steel sheet 1st in 7 months
  • Nickel sulphide project has platinum in its veins - more
  • ADB lowers forecast for GDP in China - more

   Nickel prices to average higher in 2013 but upside limited: Natixis - Nickel prices are to average $18,750/mt in 2013 compared with $17,840/mt for 2012 but the rise is likely to be limited by the scope for accelerated consumption of nickel pig iron across China, commodity broker Natixis said Wednesday in its fourth quarter review. - more

   Japan Ferroalloy Market Report - September 28, 2012 = Importers of FeSi and SiMn are nervous about possible delays of shipments from China = Summary of the market situation of ferroalloys in Japan as of September 28 is as follows. - more

   WA boom levelling out, says minister - The resources boom in Western Australia is showing signs of levelling out rather than bracing for a bust, the state's mines and petroleum minister Norman Moore says.- more

   Vale ready to increase royalty payments ‘step by step’ - Publicly listed nickel producer, PT Vale Indonesia, was “open to the possibility” of increasing its royalty payments in line with the government’s proposal in the renegotiation of its contract of work (CoW), the company’s top executive has said. - more

   Zimbabwe: BNC Seeks U.S.$60 Million More - Bindura Nickel Corporation will require an estimated US$60 million in additional funding to restart its smelter and refinery plant. - more

   Overlander Leads Sucden to Metals-Trading Dominance: Commodities - Michael Overlander’s first job was sorting copper from brass in a scrapyard north of London. Four decades later, he runs the biggest floor-trading team on the world’s largest metals bourse. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Wednesday, October 3

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $8.50/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.10/lb higher, with other London traded base metals trading lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now totals just over the 123,850 tonnes level. European markets are slightly higher this now, while US futures are quiet. Metals are mostly lower this morning on a lower Euro, while nickel is bucking the trend as traders keep pushing its bullish run higher. Traders always run a risk when they start 'forcing' a market. Sometimes they will successfully trigger new technical points which will take the price higher. On the other hand, they can force it to hard and the market will catch up with it, triggering a serious correction. We will see if they can pull it off.  
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper breaks 4 days of gains on Europe, China gloom - more
  • LME Morning - Base metals consolidate on soft data, US figures now in focus - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • Iron Ore Heads for Longest Bear Market in 20 Years: Commodities - more
  • (Dow Jones) Dominican Republic -Santo Mining Corp., announces that Xstrata is planning a new mine expansion at its Falcondo site in the Loma Miranda area of La Vega province, immediately west of the Santo Mining Corp.
  • Election 2012: Metals Industry Execs Say High Taxes, Regulations Disadvantage US Companies - more
  • China's non-manufacturing sector expands slower - more
  • Nickel Improves and Hurts Battery Performance - more

   Nickel prices in danger of stalling on weak fundamentals: bank - Nickel prices are in danger of stalling as weak demand from the stainless steel sector could re-assert itself after the latest round of stimulus measures loses momentum, Deutsche Bank said in its commodities quarterly research note Tuesday. - more

   Nickel Surplus May Climb to 5-Year High on New Mine Projects - A global nickel surplus may expand for a third year to the highest level since 2008 as supply from new mining projects outweighs China’s demand growth, Japan’s top producer said.  - more

   (Customs Statistics) Japan's Imports Of Ferro Alloys In August 2012 - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Tuesday, October 2

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $8.50/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb higher, with all London traded base metals trading higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over 123,800 tonnes. Markets are higher on Spanish bailout hopes, with metals getting an extra nudge from yesterday's positive reading in the US PMI. We put technical resistance at around $9/lb, which means nickel still has plenty of room to run.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rises as dollar softens, key data in focus - more
  • LME Morning - Base metals up in thin conditions; nickel, tin and lead hit fresh multi-month highs - more

  Reports

  • Damstahl Stainless Steel Report September 2012 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • China’s Metal fastener Output in July - more
  • US Fastener Exports Down 8% in July - more

   North American Stainless - North American Stainless will maintain the fuel surcharge at 35% for stainless flat and long products shipping in the month of October 2012. The surcharge rate is considered a maximum level for October and will be reviewed monthly. - source

    Rising Nickel Prices Give A Lift To Global Stainless Steel Selling Values - The usual, seasonal upturn in demand for stainless steel has failed to occur, so far. In most years, distributors and end-users allow their inventories to run low during the summer holiday period, then rebuild stocks in early autumn before what they hope will be a busy few months before the year-end. - more

   Strike continues at Samancor - North West - Workers at the Samancor Chrome Western Mine, near Rustenburg, embarked on a wildcat strike on Monday, the company said. - more

  • S. Africa transport strike hits fuel supplies - South Africa's fuel suppliers are starting to feel the pinch as a strike by more than 20,000 truck drivers enters its second week, with deliveries to pumps delayed and stations running out of certain types of fuel, an industry body said on Tuesday. - more

   Russia's Mechel H1 nickel sales 8,000 mt, down 5% on year - Russian mining and steel group Mechel said Tuesday that nickel product sales in the first half of 2012 were down 5% at 8,000 mt from 8,400 mt in the same period last year. - more

   China Nickel Imports/Exports - August 2012 = Imports of ferronickel and ores increased = during August 2012 were as per the attached table hereto (all the figures in the table are the weight of material). Imports of ferronickel and ores increased from the preceding month, while those of unwrought and nickel oxide decreased. Exports of unwrought fell. - more

   Nickel shipments grow - London-based Toledo Mining Corp. PLC said on Monday that its shipments from its nickel mine in the Philippines grew more than threefold year-on-year in the nine months ending September. - more

   Courtesy AISI - In the week ending September 29, 2012, domestic raw steel production was 1,780,000 net tons while the capability utilization rate was 72 percent. Production was 1,860,000 tons in the week ending September 29, 2011, while the capability utilization then was 76.1 percent. The current week production represents a 4.3 percent decrease from the same period in the previous year. Production for the week ending September 29, 2012 is down 2.4 percent from the previous week ending September 22, 2012 when production was 1,824,000 tons and the rate of capability utilization was 73.8 percent.

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

Monday, October 1

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $8.38/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals mostly lower and quiet. Stockpiles of nickel increased sharply on Friday and now totals over 124, 000 tonnes. Equity markets are up this morning as traders begin the final quarter of 2012. On the fundamentals picture, base metals would be much lower this morning on the negative China and Eurozone PMI data, with nickel taking an extra hit because of its inventory gains. But we live in a time when traders invest based on technicals, and nickel ended September in a bullish run that may continue.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slips on global growth worries; China PMI weighs - more
  • LME Morning - Metals mostly down on Chinese PMI data but copper, nickel slightly higher - more

  Reports

  • Weekly Scoreboard - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Steel Founders' Society Of America Casteel Reporter - more
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • French workers occupy plant as Arcelor decides fate - more
  • China iron ore sector sees widespread closures - more
  • Chinese steel producer buys ThyssenKrupp's subsidiary - more
  • Bull Wagers Tumble Most in 16 Weeks as Prices Slump: Commodities - more
  • Xstrata Backs Glencore Bid With Board Assurance, Vote Change - more
  • FACTBOX-Glencore and Xstrata - more
  • China's manufacturing contracts again - more
  • Is the Natural Resource Bull Market Over? - more

   Indonesia digs hole for itself with new mining laws - One evening in late September, Peter Wesser and his club of veteran minerals explorers met at Jakarta's Hotel Kristal to swap stories and exchange news. Beer and roast beef were on the menu - on the agenda was trying to figure out how to stay in business. - more

   Nickel debate: Expert urges "50-year ban" - The exploitation of nickel in Serbia should not be allowed under any circumstances in the next 50 years, as it would require the use of polluting technologies. - more

   China domestic ferrochrome prices steady; higher import offers heard - Domestic high carbon ferrochrome (50% Cr) prices were stable at Yuan 7,100-7,300 ($1,120-1,151)/mt this week affected by thin trading activity ahead of the long holiday in China, industry sources said late Thursday. - more

   Outokumpu offers Italian plant to seal Inoxum deal - Finnish stainless steel maker Outokumpu has offered to sell a prized Italian mill to win regulatory approval for its acquisition of ThyssenKrupp's Inoxum. - more

   Potanin's Norilsk feud with rival flares - Vladimir Potanin, the largest shareholder in Russia's Norilsk Nickel, told Reuters that tensions had escalated with the other main owner of the world's top nickel and palladium producer, dashing hopes of a keenly awaited reconciliation. - more

  Morning Nickel Inventory and 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 reports and information free of charge. Contact us

 September Archives


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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.

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9/27 Market Prices
not official prices

ferrochrome and chromium prices

Moly Oxide (>51%)
$11.65/lb
 
Source

Ferrochrome(60-65%)(HC)
$1.21lb
 

9/27 Scrap Price

Stainless Steel (LTL/ton)
$1.02/lb
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$.60/lb
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