This
page is archived news covering the period of October 2012
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
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.
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)
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.
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)
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.
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.
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)
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.
(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)
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.
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)
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.
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.
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)
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.
(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.
(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)
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.
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)
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.
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)
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.
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)
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.
(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)
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
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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.
(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)
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
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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.
(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
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)
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
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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.
(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)
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.
(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)
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
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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.
(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)
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
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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.
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)
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
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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.
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)
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
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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.
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)
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
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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.
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)
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.
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)
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.
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)
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.
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)
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
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 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.
Reports
Commodity/Economic Comments
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. -
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. -
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. -
Morning Nickel
Inventory and Price Statistics & Figures
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. -
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. -
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..... -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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. -
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 .... -
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.
-
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. -
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. -
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. -
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. -
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. -
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. -
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%. -
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. -
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.
-
