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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Thursday, October 31

  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 $6.62/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to another record high on Wednesday and now totals 237,576 tonnes. Cancelled warrants nearly hit 29% on Wednesday as well. For October 2013, stockpiles reached record levels 15 times over 23 reporting days. Markets around the world fell after yesterday's Fed announcement, not because of anything they did, but what they didn't say. The stimulus addicted markets want to hear the free money will continue to flow and stoke the markets. And while the Fed did not stop this flow going into November, or even hint they might stop it anytime before 2014, they did not make blanket promises to the markets that the flow would go on for forever. So markets are throwing a little tantrum, and some are taking some profits after this weeks big jump. Nickel ended September at $6.32/lb and at teh moment, is trading about $.25/lb higher than that.
  • Average price of cash nickel so far this month - $6.37/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Heads for First Monthly Drop in Four on Taper Speculation - more

  Reports

  • 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.78
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (MF) Yusco leaves stainless steel prices flat for November
  • (Law360) The Sixth Circuit on Wednesday backed a lower court's decision not to halt a $1 billion Kennecott Eagle Minerals Co. nickel and copper mine, saying the federal environmental laws cited by the private club plaintiffs do not compel government intervention.
  • Sherritt breaks even in Q3 - more (quote - For the full year, Sherritt expects to produce 67,000 tonnes of sulphides, 60,000 tonnes of nickel and 5,550 tonnes of cobalt. It forecasts spending on capital to reach $248 million.)
  • (FAN) Turkey raises import duty for stainless CRC
  • Slideshow: Latest 3D Printing Materials Include Nickel Alloy - more
  • (SSY) The world export price of hot rolled band dropped to a 3-month low of $555/t at the end of October, according to the latest SteelBenchmarker published by World Steel Dynamics.
  • Kate Rice: Still making history - more
  • China revives steel fastener trade dispute with EU - more

    Morgan Stanley sees weak medium-term nickel prices - Global nickel markets will likely stay weak over the next few years as demand remains low and oversupply continues, Morgan Stanley chief metals economist Peter Richardson said Wednesday. - more

    New Record High For Global Stainless Steel Output This Year - World crude stainless steel output is forecast to reach an all-time high figure of 36.4 million tonnes in calendar year 2013. - more

    BHP Billiton Australian nickel mine hit by small quake - BHP Billiton's Leinster nickel mine in Western Australia was hit by a small earthquake early on Thursday, and all workers have been brought out from the underground mine safely, the company said. - more

    Prices of CR Austenitic Stainless Sheets = They become an environment to be able to expect $2,500 CFR - Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian region have shown a sign to recover rapidly. - more

    Finnish state considering rescue of struggling miner Talvivaara - Finnish nickel miner Talvivaara, struggling for cash just months after its latest fundraising, could be rescued by the government with a package focused on debt relief, sources familiar with the discussions said yesterday. - more

    Australian Mining Magnate Palmer Wins Recount for Seat - Mining magnate Clive Palmer will become an Australian lawmaker, adding to three Senate seats his Palmer United Party may claim in the wake of the Sept. 7 election. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 30

  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 $6.61/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mostly higher as well. After taking a few days off from record breaking gains, stockpiles of nickel stored in LME licensed warehouses rose to yet a new all time record high on Tuesday and now total 236,958 tonnes. This is the fifth time this month that stockpiles have gained by over 1000 tonnes in a single day, and the second time they rose by over 2,000 tonnes. Of the 15 days recording gains so far this month, 14 of them were enough to set a new all time record high. An adviser to the Indonesia mining ministry is telling Bloomberg he doubts Indonesia will go thru with a total ban of ore exports in January. While not speaking for the government, his argument of the need of the revenue generated by these exports, is one we have heard numerous times before, and appears to be more than just propaganda. We will have to wait and see, but this may take out some of the speculative motive for some traders. Looking at the nickel chart, it appears we are seeing a technical flag signal - or triangle signal setting up. This is sometimes a setup for a sharp breakout, either to the positive or negative. So far today, we remain inside the ever shrinking triangle.
  • Average price of cash nickel so far this month - $6.36/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits week high as Fed expected to keep stimulus - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.78
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (Xinhua) Stockpiles of iron ore at 25 major ports in China continued to grow last week, marking the third consecutive week of growth, according to a Tuesday report by Xinhua News Agency.
  • (FAN) Today, Tsingshan Steel finalized its HC ferrochrome purchase price for November 2013, which is 6846.6 RMB/T (by cash, with tax and freight). This price is unchanged over last month.
  • (SM) According to weekly data released by the China Iron and Steel Association (CISA) , the aggregate daily crude steel output of large and medium sized member enterprises declined by 2.97% during mid-October (October 11th to 20th) compared to early-October (October 1st to 10th).
  • (MF) Baosteel Stainless leaves domestic stainless coil prices flat for November
  • (AM) Japanese stainless scrap price flat
  • (AM) India's Jindal Stainless sees net loss in Q2
  • LME Margin Rate Changes - more

    North American Stainless Press Release - For the month of November 2013, North American Stainless will maintain the fuel surcharge at 33% for stainless flat and long products. The surcharge rate is considered a maximum level for November and will be reviewed monthly. - source

  • North American Stainless New Products Announcement - more

     Indonesia Seen Avoiding Total Ban on Mineral-Ore Exports in 2014 - Indonesia may refrain from a complete ban on mineral-ore shipments in 2014 as the country needs the revenue to offset declining income from the oil and gas industry, said an adviser to the industry ministry. - more

    RamuNiCo seeks to boost output - RamuNico is adopting stringent measures to improve its production while reducing deficit in the second-half of this year, the company said in a recent newsletter. - more

    KWG to patent new cheaper, cleaner ferrochrome process - KWG Resources, that is earning an 80% interest the Black Horse chromite deposit in Ontario's Ring of Fire, has filed a patent application for a new method of refining chromite ore into ferrochrome using natural gas. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 29

  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 $6.58/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading mostly positively, but quietly. Stockpiles of nickel stored in LME approved warehouses fell for a second session and now totals just over the 234,200 tonne level. The 20, 40 and 100 day moving average of traded nickel are all currently within $50 of the $14,000 tonne level, with the 20 day moving higher, 40 day average leveling off, and 100 day still moving lower. Cancelled warrants for nickel continue to register in the high 20% range, with only the first day of the month reading below 20%. With stockpiles setting all time record highs nearly daily, and cancelled warrants running at record highs, the amount of nickel being bought and held by investors is unprecedented. The Shanghai Metals Market is reporting the Philippines is looking at raising the taxes on exported nickel ore to China. Many believe this is the coarse fo action that indonesia will eventually take, after backing off their total export ban deadline. This is still up in the air however, and until this ban is cancelled, nickel prices could remain volatile. Some of the market activity this week is being caused by bets that the US Fed will continue stoking the US markets with stimulus, and any tapering will be a 2014 possibility.  
  • Average price of cash nickel so far this month - $6.35/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises as Withdrawal Orders Jump the Most in Four Months - more

  Reports

  • World Crude Steel Production - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (SMM) The Philippines may raise export tax on its nickel ores from 2% to 7% in 2014, which will push up prices for the Philippine material, Shanghai Metals Market understands.
  • (SSY) China's daily steel production for the ten day period from 11-20 October was down by 1% from the previous ten days to 2.107 Mt, according to data from the China Iron and Steel Association. This represents the lowest daily rate since late August.
  • Beijing to ban half of private cars on high-pollution days - more

    Russia's stainless steel imports rise 5.6% in Sep 2013 - According to SpetsStal's appraisal, the volume of stainless steel imports to Russia in September 2013, compared with August, rose 5.6% to 20,339 tons. - more

    Selling their nickel for a dime - Communities on stunning Halmahera Island in North Maluku that have acted as the custodians for biodiversity for generations are being economically displaced for a nickel mine. - more

    Bradford: Keep Eye on Construction, Raw Material Costs in 2014 - The auto industry garners more of the headlines, but nonresidential construction is actually the largest consumer of steel in the United States. - more

    Courtesy AISI - In the week ending October 26, 2013, domestic raw steel production was 1,817,000 net tons while the capability utilization rate was 75.8 percent. Production was 1,692,000 net tons in the week ending October 26, 2012, while the capability utilization then was 68.0 percent. The current week production represents a 7.4 percent increase from the same period in the previous year. Production for the week ending October 26, 2013 is down 1.0 percent from the previous week ending October 19, 2013 when production was 1,835,000 net tons and the rate of capability utilization was 76.6 percent.

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • 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 28

  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 $6.55/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses took a break from breaking daily records and backed off a little on Friday to end the week holding nearly 235,000 tonnes worth of nickel. Minor resistance was established last week at $6.64/lb, while we put major resistance more around the $7/lb level. After three consecutive days ending in the red, nickel has rebounded this morning, but off earlier highs and fading. As long as Indonesia delays any change to their export ban policy, we expect nickel to remain volatile, and potentially grow more volatile as the January 1st deadline nears. As the largest supplier of unrefined nickel ore to China, Indonesia's decision will have an impact, but to what degree remains left to speculation.
  • Average price of cash nickel so far this month - $6.34/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises for Third Day on Speculation Fed to Keep Stimulus - more
  • Reuters metals morning - Copper rises as dollar falls, US stimulus hopes lend support - more

  Reports

  • October’s CHRG Report - pdf here
  • U.S. Exports of Stainless Steel Mill Products - more
  • US Imports of Stainless Steel Mill Products - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.79
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Australia, Indonesia, Mozambique's take different commodity paths: Clyde Russell - more
  • Universal Stainless Reports Preliminary Third Quarter 2013 Results - more

    Rising metals inventories cause concern - U.S. Steel is a 112-year-old, Pittsburgh-based company, developed after J.P. Morgan bought Andrew Carnegie’s steel works in 1901 and merged it with his other smaller steel operations. - more

    BHPB's Production of Ferroalloy and Nickel in Jul-Sept 2013 =Compared to production of year-earlier period, Mn ore is down and Mn alloy is up= On October 22, BHP Billiton Limited (BHPB) announced its production results in the period from July to September in 2013. - more

    Steel firm to fight US probe - The country's largest flat-rolled alloy steel producer, Wuhan Iron and Steel (Group) Corp, said Sunday that it will respond in a proactive manner to an anti-dumping investigation launched Friday by the US Commerce Department. - more

    KWG Resources Files Patent Application - KWG Resources has filed a patent application for a new method of refining. “It would appear that this process, combining North America’s newly discovered high grade chromite with its also newly discovered wealth of natural gas, could usher a new paradigm into the stainless steel making world,” said KWG President Frank Smeenk. - more

  Morning Nickel Price Statistics & Figures

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

Friday, October 25

  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 $6.57/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to yet another all tie record high, after yet another 1000+ tonne single day receipt. The new  warehouse total sits at 235,278 tonnes, with the gain over the last 7 consecutive days recorded at 6,654 tonnes. Hard to justify price increases with stockpiles continuing to gain at such a sharp rate. Very little market news otherwise. Right now we are trading about where Monday closed, but this was nearly $.25/lb higher than the low close of the prior week. Looking at the past few weeks movements in traded nickel, it would be easy to say the bull is in trouble, but we wouldn't set out the barbecue just yet. Fundamentally, nickel looks weak. Technically, nickel will signal a negative signal today, if it closes below $6.50/lb. And lastly, nickel sent a sell signal to those who trade on karma, when cancelled warrants totalled 666,066 tonnes on Tuesday. We try not to be that superstitious, but the fact nickel spiked so high just a few days before two simultaneous shipments totalling 3,642 arrived into warehouses, sending a major negative message to what should have been a deeply pessimistic market, did get our attention. A market conspiracy anyone - or just an example of a bluff that paid off and forced the market sharply higher on short covers. Either way - for a time there the market was volatile and reminded all of those in the world of stainless steel - why nickel prices trading at a boring level day after day after day - is a blessing. Enjoy your weekend! 
  • Average price of cash nickel so far this month - $6.33/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Heads for Weekly Drop on Concern China May Tighten Credit - more
  • Reuters metals morning - Copper droops to two-week low as demand outlook dims - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.80
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Founders apply to delist Kazakh miner ENRC - more
  • China securities watchdog says conditions ripe for commodity options - more
  • 4,000 delegates to attend mining expo - more
  • China's manufacturing hits 7-month high: HSBC - more

    China Ferrochrome: Chinese buyers shun imports for now - Spot prices for high carbon ferrochrome and charge chrome imported into China remained steady this week with trade activities remaining muted as buyers stayed on the sidelines ahead of the settlement of November bid prices by Chinese major stainless steelmakers. - more

    Big miners offer bleak outlook for gold, metals - Earnings season offers traders extra tools to gauge the outlook for commodities such gold and oil. For metals, the prognosis isn’t good.  - more

    Zimbabwe: BNC Mining Plan Bears Fruit - Bindura Nickel Corporation's revised mining plan has started bearing fruit after a marked increase in recoveries and a decline in costs, figures from parent firm Mwana Africa Plc' latest trade update show. - 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 24

  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 $6.64/lb . Indicators at 7:00 am CST today show 3 month nickel trading flat with little change, and other London traded base metals basically on hold as well. Some are up slightly, some are down, but none are making a noteworthy move in either direction. Stockpiles of nickel took a big jump yesterday, and that means another new all time record high mark. Even by LME standards, a single day gain of over 2400 tonnes will raise eyebrows, and with it coming on the back of record stockpiles, a few groans are sure to follow. Your new record high is 234,084 tonnes. While off Tuesday's high, we show the traded price of nickel remains above the earlier line of resistance, for a third day, and this sends a bullish technical signal. The record breaking stockpiles sends a negative fundamental signal. Parties are looking to see what is happening in China, and outside its borders to events that may effect nickel production there - for directional guidance.Will Chinese demand continue to grow - and will an Indonesia export ban on unprocessed nickel ore into China actually occur? The bigger question at this point may be - how many more nickel mines are going to have to cease operation before supply stops exceeding demand. We have some operations already shut down, but when you see one day gains in the stockpile numbers like we did yesterday, coming on the heels of five consecutive growth days, one has to wonder how much surplus is really out there.
  • Average price of cash nickel so far this month - $6.32/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs in London as China Manufacturing Advances - more
  • Reuters metals morning - Copper dips on China credit worries, European growth - more

    (Story below) Norilsk Nickel - Our Metals - video here

  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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.80
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (Reuters) South Korea bought a total of 320 tonnes of nickel for arrival by Jan. 30 via tenders closed on Wednesday, the state-run Public Procurement Service said on its website (www.g2b.go.kr).
  • (MF) Korea’s stainless HRC imports rise in September

    BHP's outlook optimistic, AGM hears - BHP Billiton says the global economy is picking up, with positive signs in the US and Japan, boding well for plans to drive an 8 per cent increase in overall production over the next two years and for shareholders hoping for capital returns. - more

    Merafe Q3 ferrochrome production up 71% - JSE-listed ferrochrome producer Merafe Resources on Thursday reported that its third-quarter attributable production from the Glencore-Merafe chrome venture increased by 71% year-on-year, as a result of additional planned production, good performance of the Lion 1 project and the impact of major production improvements at the venture’s Rustenburg plant. - more

    POSCO cuts 2013 sales outlook; Q3 profit nearly halves - South Korea's POSCO cut its 2013 sales target by 3 percent on Thursday as the world's fifth largest steelmaker struggles to win orders away from Asian rivals also scrambling in an oversupplied market. - more

    Norilsk Nickel Corporate Video Awarded at Festival in Cannes - At the 4th international Cannes Corporate Media & TV Awards customarily held in October in Cannes, France, Norilsk Nickel’s publicity video Our Metals has been given a Silver Dolphin. - more

    Reach for a new career -  France Capon on why expertise in the nickel industry will be relevant for years to come - 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 23

  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 $6.69/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.12/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME licensed warehouses rose to a new all time record high for a fifth straight session and nw total 231,636 tonnes. After one of biggest one day jumps in nickel prices this month, and a reminder to stainless steel buyers around the world of more volatile times in years past, nickel is taking a break in its bullish run on rising Chinese short term interest rates. Inflation is the concern in Asia, while deflation is a concern in Europe. Asian markets ended lower overnight, European markets are lower this morning, and US futures signal a weaker opening for Wall Street. While the media, who feels a duty to explain why everything happens, is blaming the recent increase in nickel prices on the potential Indonesia nickel ore ban of January 2014, we feel this is mostly a technical run, with the Indonesia situation the excuse. Stockpiles continue to increase, with supply far out weighing demand. In our opinion, this is a post LME Week bull run, which we have seen before. Analysts met during the week, and shared notes on what they felt, and possibly left with new perspectives. They know that as long as the Indonesia situation remains in question, the market will be volatile, whether the effect of such a ban would have a major effect on the supply/demand situation, or not. We suspect yesterday's sudden jump was partially short covering, as traders covered earlier bets. Today, the question of Chinese interest rates has put the brakes on the bull, but what tomorrow will bring, is what keeps market watching interesting, and trading nickel profitable.
  • Average price of cash nickel so far this month - $6.30/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Slumps From One-Month High as Chinese Interest Rates Rise - more
  • Reuters metals morning -

  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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.78
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Strategies for Success in a Flat Commodity Price Market - more
  • China leads world's steel production in Sept - more

    AK Steel Reports Financial Results for Third Quarter of 2013 - AK Steel reported a net loss of $31.7 million, or $0.23 per diluted share of common stock, for the third quarter ended September 30, 2013, compared to a net loss of $60.9 million, or $0.55 per diluted share, for the third quarter of 2012 and a net loss of $40.4 million, or $0.30 per diluted share, for the second quarter of 2013. - more

    TVI eyes partner for Agata nickel project - Canadian firm TVI Pacific on Tuesday said it was in talks with a potential partner for the infusion of $11.5 million into the Agata nickel project in Agusan del Norte for the development of a direct shipping ore operation in the area. - more

    Failure to pay pushes Mirabela into mire - Mirabela Nickel has slumped deeper into the mire, confirming yesterday it had failed to make an October 15 interest payment on its $US395 million ($409 million) of bonds. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 22

  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 $6.50/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.17/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses hit another all time record high on Monday, with stockpiles reaching 231,480 tonnes. Ten of the sixteen reporting days so far this month have seen new record levels reported. While the Euro is lower this morning, base metals are trading much higher, and the post LME Week run appears to be now feeding on itself. We have the next technical level of resistance at $6.51/lb, but that has been surpassed already today. The $7.00/lb line could be the next target if the run continues. While traders are starting to gamble that Indonesia will keep its January 2014 export ban in place, much of this bullish run is technically based. Cancelled warrants are running at record levels, averaging in the mid twenty percentile range, and in the high twenty's the last two days. The average price of stainless steel in China is starting to inch up. The major US stainless steel producers reported November surcharges today and AK Steel shows no change in 304, and a slight decrease in 316 stainless steel surcharges.
  • Average price of cash nickel so far this month - $6.28/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Reaches 8-Week High as Export-Ban Prospect Spurs Buying - more
  • Reuters metals morning - Copper steady ahead of U.S. jobs report - more

  Reports

  • September 2013 crude steel production for the 65 countries reporting to worldsteel - more
  • Steel & Metals Market Research Monthly Stainless Steel Briefing - more
  • Oryx Stainless - Man is a wolf to man'' - pdf here
  • Outokumpu Nirosta November Stainless Steel Surcharge - pdf here
  • AK Steel November Stainless Steel Surcharge - pdf here
  • Allegheny Ludlum November Stainless Steel Surcharge - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.65
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (GP) "The nickel sector is in overcapacity. It is impossible to predict when things will sort themselves out," an Eramet spokesman told AFP.
  • (MF) ISSF: Global stainless steel production rises by 4.6% in H1
  • (MB) China's nickel ore imports up 27% in September
  • Chinese traders using LME stock for copper financing trade -traders - more
  • AIIS Steel News-October 2013 - more
  • Mining production falls 7.8% to P45.9b - more
  • An ENSO-neutral summer most likely - more

    Nickel glut extends to fourth year on China supply - The global glut of nickel will extend into a fourth year in 2014 as new technology lowers costs for Chinese furnaces producing record amounts of a lower-grade substitute that helped drive prices into a bear market. - more

    China Nickel Imports and Exports Data September 2013 - The General Administration of China Customs released data of China's September imports and exports of nickel on October. 21st(Unit: mt) - more

    French Mining Group Warns Nickel Industry ‘Overcapacity’ - The French mining group Eramet, hit by the slumping nickel market, is warning of more losses and the need to reduce costs. - more

    Third Time’s the Charm for Sudbury Basin Collaboration? - It’s no secret that nickel prices aren’t doing as well as they could be — the International Nickel Study Group recently revealed that the global nickel market recorded a surplus of 108,200 tonnes in the first eight months of 2013, and some analysts believe that it will take a year or two for a turnaround to occur. - more

    Production of Molybdenum Concentrates by Kennecott, USA in Jul- Sept =2.65 million lbs in pure Mo equivalent, down by 51% from year-earlier period= The quantity of molybdenum concentrates produced at Bingham Canyon Mine by Kennecott Utah Copper in the period from July to September in 2013 was 1,200 tons in pure Mo equivalent (equivalent to 2.65 million lbs), which represented a drastic decrease of 51% versus 2,500 tons (= 5.51 million lbs) of the year-earlier period. - more

    Courtesy AISI - In the week ending October 19, 2013, domestic raw steel production was 1,835,000 net tons while the capability utilization rate was 76.6 percent. Production was 1,692,000 net tons in the week ending October 19, 2012, while the capability utilization then was 68.0 percent. The current week production represents a 8.5 percent increase from the same period in the previous year. Production for the week ending October 19, 2013 is down 0.6 percent from the previous week ending October 12, 2013 when production was 1,847,000 net tons and the rate of capability utilization was 77.1 percent.

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • 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 21

  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 $6.45/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.07/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel rose to another all time record high on Friday, and now total 230,760 tonnes. One year ago today, stockpiles recorded 127,512 tonnes and nickel was selling at $7.71/lb. The short term trend in nickel is now positive, with a distinctive curve upward in average pricing since October 10th. The mid term trend remains neutral, while the long term trend remains negative. Nickel is trading up short term resistance of $6.45/lb today, and two consecutive closes above this mark could signal further technical advances. Traders are also betting some of the delayed economic news coming out of the US this week, will signal further strengthening in the economic recovery.   
  • Average price of cash nickel so far this month - $6.26/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises as Metal Imports Into China Reach a 19-Month High - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • US Imports of Stainless Steel Mill Products - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.61
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (SMM) China’s production of nickel pig iron (NPI) rose sharply in September as high-grade producers ramped up production on higher prices, according to a survey by Shanghai Metals Market.
  • (SMM) Ramu NiCo Management (MCC) Ltd. has achieved 84% of its designed capacity for making nickel-cobalt intermediate at China’s largest overseas laterite-nickel ore mine (Ramu).
  • (MF) Japan’s stainless steel output falls in August
  • Nickel approaching critical long-term support - more
  • (CCTV) China's daily steel production for 1-10 October edged down 1% from the level recorded during the last 10 days of September to 2.128 Mt, according to data from the China Iron and Steel Association.
  • As China's economy grows, so does reform call - more
  • What Premier Wynne Needs to Learn From Finland  - more

     Mining group Eramet plans more savings as nickel stays weak - Eramet on Monday said it would step up cost saving measures to counter the effects of a depressed nickel market, which contributed to a five percent fall in the mining group's third quarter sales. - more

    China will outweigh rest of world for base metals demand by 2017: WoodMac - China is on track to exceed the rest of the world in demand for base metals by 2017, becoming the single largest consumer, research consultancy Wood Mackenzie said Friday. - more

    Alcoa complains to UK, U.S. regulators about metals warehousing - Alcoa Inc, the world's second-largest aluminium producer, has complained to British and U.S. market regulators about a proposal by the London Metal Exchange to overhaul the LME's warehousing policy. - more

    Lower prices depress PHL metals export value, says Mines Bureau - Weighed by lower commodity prices, Philippine metals outs dropped 7.89 percent in peso terms during the first half of the year, Mines and Geosciences Bureau (MGB) data released Monday showed. - more

    Australia’s nickel mining boosted by new extraction process - Collaboration between Perth CSIRO scientists and an Australian technology company has produced a commercially viable method to extract nickel from low grade ore. - more

    Tokyo Steel, wary of imports threat, keeps Nov prices mostly unchanged - Tokyo Steel Manufacturing Co Ltd is keeping November prices of most of its products unchanged as Japan's top construction-steel maker is wary of competition from imports and wants a recent broadbased hike to be absorbed by the market. - more

    China is world's largest consumer, 2nd largest producer of iron ore - Iron ore is the most important raw material for steel production. Its resources are found mainly in Australia, Brazil, China, India, Russia and the United States. - more

  Morning Nickel Price Statistics & Figures

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

Friday, October 18

  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 $6.36lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.08/lb higher, with other London traded base metals trading higher as well. Speaking of higher, stockpiles of nickel stored in LME licensed warehouses rose to yet another all time record high yesterday, now reading 230,040 tonnes. Markets are trading higher this morning, mostly on news out of China that they saw their fastest growth of the year in the third quarter. And while there are signs they may have slowed recently, markets are looking for positive economic news and reacting to it. We posted a link below to an article in China Daily that power consumption rose 10.4% in September - so any slowing in that region is not across the board. As post 'LME Week' week comes to an end, we are seeing the nickel bump we expected, and it remains to be seen if it holds, but so far, it doesn't appear to hold much momentum. We are seeing a batch of 'updated' predictions being issued, after analysts had a chance to compare notes last week. It would appear most believe there isn't much room left on the downside, so predictions on the upside are common. It depends on two things, in our humble opinion. First, Indonesia. If they leave their 2014 ban of nickel ore in place, we will see prices rise on the speculation China will be forced to import more refined nickel. Secondly, if funds ever start seeing base metals as a profitable line again, the influx of fund money could feed on itself, as it has in the past. We don't see this happening anytime soon, but the unknown factor could easily trigger interest.  IN the mean time, it's Friday and the weekend is right around the corner. Have a safe and relaxing one!  
  • Average price of cash nickel so far this month - $6.24/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper gains on China GDP, but caution limits rise - more

  Reports

  • 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.59
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SMM) HSBC slashed its 2013 nickel price view by 6 percent to $15,040 per tonne to reflect current weakness in the market, but kept its 2014 outlook unchanged at $17,090.
  • China's Q3 GDP growth accelerates to 7.8% - more
  • China's power consumption rises 10.4% in Sept - more
  • Easy Fed outlook, China growth send shares to five-year high, dollar to eight-month low - more

    China Metals Demand Slower, Not Lower - Much has been made of a slump in China’s demand for ores and metals, hurting big exporting nations like Brazil, Indonesia and Australia. - more

    Nickel outlook lifts as Indonesian export ban looms over China - A potential ban on nickel ore exports by Indonesia next year and production cutbacks could lift the price of this year's worst-performing base metal by more than 20 percent off multi-year lows, analysts said. - more

    Is BHP looking to escape the nickel market? - BHP Billiton’s rivals are once again suspecting that the miner could be on the move to offload its largest nickel assets as part of its strategy to heavily reduce costs and increase its focus on core operations. - more

    Xstrata Nickel lays off more workers; national park demand gathers steam - The miner Xstrata Nickel Falcondo on Wednesday laid off around 100 workers in the central town of Bonao, and now total 500 people who’ve lost their job. - more

    China Ferrochrome: Buyers hold out for lower import prices -  Spot prices for ferrochrome and charge chrome imported into China were steady this week on a lack of deals as Chinese buyers held out for lower prices due to an absence of movement in China's domestic market. - more

    Japan H1 crude steel output hits 5-year high on construction demand - Japan's crude steel production for the April-September period hit a five-year high, buoyed by solid construction demand from higher government infrastructure spending and a rush to build homes ahead of a sales tax hike 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

Thursday, October 17

  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 $6.31/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to a new all time record high on Wednesday and now totals 229,812 tonnes. Markets around the world are showing relief this morning as the US government reached an 11th hour agreement that returned the government to work, and raised the debt limit. Now this agreement only buys the world about 3 months before we start this same nonsense all over again, but for now, the giant step into an unknown abyss will remain a feared mystery. A Chinese rating agency dropped the US to A- from A, and the story  can be found here. Nickel pricing continues to bob in the surf, going absolutely no where. Even a stronger Euro this morning is having little positive effect on base metals trading. This could be a response to lowered US economic expectations now being released in light of the political debacle.  
  • Average price of cash nickel so far this month - $6.24/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning -

  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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.61
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (Reuters) The global nickel market was in surplus by 108,200 tonnes in the first eight months of the year, a monthly bulletin from the Lisbon-based International Nickel Study Group (INSG) showed on Wednesday.
  • (SSY) The world export price of hot rolled band fell by $17/t over the last two weeks to a 9-week low of $556/t, according to the latest SteelBenchmarker published by World Steel Dynamics.
  • Outotec to cut up to 500 jobs as miners slash spending - more
  • Fed mulls surcharge on bank physical commodities - more
  • Time to reduce dollar's hold - more

    Experts bullish on nickel prices but timing unclear - A trio of metals experts have expressed their confidence in the long-term outlook for the global nickel market, despite spot prices’ continued decline over recent months. However there could still be tough times ahead in the short term. - more

    China's Production of HC FeCr in Sept. Expected to Be 331,000 Tons =Up by 1% from prior month, and consumption of chrome ore is calculated to be about 861,000 tons= According to the local media in China, the domestic production volume of high-carbon ferro-chrome in September is expected to be around 331,000 tons. - more

    Talvivaara must deal with market forces - new minister - Finland's new minister in charge of state ownership said mining company Talvivaara and others which have received state investment should deal with market forces without relying too much on government support. - more

    Norilsk Nickel Russia’s most transparent company – TI - Transparency International has put OAO GMK Norilsk Nickel, the world's largest nickel producer, on top of Russia’s list of its 52-page report, Transparency in Corporate Reporting: Assessing Emerging Market Multinationals. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 16

  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 $6.33/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel retreated on Tuesday and now total just over the 228,250 tonne level. The world has been watching the US Congress closely for a few weeks now, and as a midnight default deadline draws near, there is nothing else that really matters. Markets are still convinced that there will be another last minute deal reached and are trading cautiously to optimistically. No one knows exactly what would happen if they do not reach an agreement. We could see Black Thursday around the world, or we could see a few days of confusion and fear, followed by a nervous calm - or a Black Monday. Either way, no one really believes Washington is stupid enough to test unchartered waters and the radical faction of the House has effectively shut the House out of the negotiation process. Already, Congress inability to reach an agreement has put US' AAA credit rating in danger. An interesting day ahead - although everyone already believes they know what will happen.   
  • Average price of cash nickel so far this month - $6.24/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Slides for Second Day as U.S. Fiscal Standoff Continues - more
  • Reuters Morning - Supply weighs on Copper as U.S. debt deal deadline looms - more

  Reports

  • 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.72
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (MF) Taiwanese stainless steel market to fall into price war this week
  • (MF) China drives global production of stainless steel to record high
  • Ferronickel produced from Decar awaruite concentrate - more

    Sudbury merger likely: Analysts - Glencore Xstrata and Vale could and likely will one day merge their Sudbury operations. - more

    Nickle prices to rise 22% to $17,000 a ton by Q4 2014: Bank of America Merrill Lynch - Nickel prices to rise 22% from current level to $17,000 a ton by the fourth quarter of next year, said Bank of America Merrill Lynch. - more

    Result of Demand & Supply for Ferro-chrome in Apr-Jun 2013 =Decrease in consumption of high-carbon products continues due to production curtailment of stainless steels= The result of demand and supply for ferro-chrome was compiled for the period from April to June in 2013. - more

    Anglo American Names Ruben Fernandes CEO, Nickel, Niobium & Phosphates Unit - Anglo American Plc. announced that it has appointed Ruben Fernandes as chief Executive Officer of its Nickel, Niobium and Phosphates businesses, with effect 1 December 2013, following the company's decision to combine the management of the three commodity businesses. - more

    Modest Recovery in September - September U.S. Shipments of both steel and aluminum displayed their highest year-over-year growth yet in 2013. Canadian shipments returned to a small positive growth rate as well. - more

    PolyMet Mine Launches Campaign To Build Support - Developers behind the proposed PolyMet copper-nickel mine in northern Minnesota have launched a new public awareness campaign to try to build support for it. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 15

  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  $6.35/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.00/lb no change , with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just over the 228,400 tonne level. Equity markets are mostly higher around the world as it appears Washington will, or has reached an agreement that will resolve the government shutdown and debt limit issue. For how long remains to be reported, but media rumors have extensions reaching into early 2014. Apparently House Republicans are being briefed this morning and their reception could seal the deal. We are getting the post LME Week bump in nickel prices that we have seen before, and while prices are flat today, they are still showing strength in the face of a stronger Dollar. Based on the last few years, we expect little to come from this bump and about the only thing that will give any rally some bite, would be news from Indonesia that they will keep their January 1st ferronickel export ban in place. Until then, we should continue to roll with the waves.
  • Average price of cash nickel so far this month - $6.23/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Leads Declines in Base Metals as U.S. Debt Talks Continue - more
  • Reuters Morning - Copper falls as investors hold out for more on U.S. deal - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.70
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (SO) Dalian Commodity Exchange, one of the four futures exchanges in mainland China, has announced that it will launch trading of iron ore futures on October 18.
  • BIR publishes first issue of non-ferrous statistics - more

    Prices of CR Austenitic Stainless Sheets After Anniversary of Founding = They fluctuate in less movements and level off - Attention is paid to whether prices of cold-rolled (CR) austenitic stainless steel sheets will rise or fall after the Anniversary of the Founding in negotiations in the Asian region starting from this week, and the end of the holiday season comes with less movements in the market. - more

    BHP Accused of Underpaying Royalties - Following weeks of protests at its Colombian Cerro Matoso ferronickel operation, mining giant BHP Billiton (ASX: BHP) has now been accused of underpaying Colombian nickel royalties, according to a report by Bloomberg. - more 

    Court case over Solomon Islands nickel rights between Japan, Australia still unresolved - The long drawn out dispute between Australian and Japanese companies over nickel rights in Santa Isabel Island in the Solomon Islands remains unresolved. - more

    Surigao solon wants probe on operation of suspended nickel mining company - Surigao del Norte Rep. Guillermo A. Romarate Jr. (2nd District) is calling for a congressional investigation on a Chinese mining company in Claver town in Surigao del Norte for allegedly operating even while under suspension. - more

    China Steel Binge Spurs Record Hiring of Iron-Ore Vessels - Freight traders are hiring record numbers of iron-ore carriers in the spot market as Chinese steel production expands at the fastest pace in three years, spurring the biggest rally in shipping rates since 2009. - more

    Courtesy AISI - In the week ending October 12, 2013, domestic raw steel production was 1,847,000 net tons while the capability utilization rate was 77.1 percent. Production was 1,692,000 net tons in the week ending October 12, 2012, while the capability utilization then was 68.0 percent. The current week production represents a 9.2 percent increase from the same period in the previous year. Production for the week ending October 12, 2013 is down 1.4 percent from the previous week ending October 5, 2013 when production was 1,873,000 net tons and the rate of capability utilization was 78.2 percent.

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • 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 14

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Nickel trading Dow Jones reports three month nickel closed Friday's trading session at $6.26/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb higher, with other London traded base metals trading mostly higher as well. Stockpiles of nickel stored in LME approved warehouses fell for a third consecutive session and now total just under 228,200 tonnes. Attention is back on Washington as lawmakers there have yet to accomplish anything but talk. Dow futures are down about as much as they gained on Friday, with Asian markets ending higher overnight, and European markets mostly lower this morning. Xstrata's new owners, Glencore, is in talks with Vale, about having their Canadian operations work together. The former owners of these two operations have had such talks before, but were never able to reach an agreement. Nickel trading did very little last week, and we expect a little more activity this week now that LME week is over. No reason to believe it will do much more than ride the waves. Everyone, us included, apparently believes that no one in Washington is stupid enough to not raise the debt limit before Thursday, but as the day gets closer without an agreement, market volatility will rule. .
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Advances as China Imports the Most Metal in 18 Months - more
  • Reuters Morning - Copper up on Chinese imports, chart-based buying - more

  Reports

  • 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.71
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • China's avg. daily steel output rises in late Sept - more

    Glencore, Vale in talks over Canadian nickel tie-up - Glencore Xstrata and Vale have revived talks over a potential combination of the mining groups' nickel operations in Canada's Sudbury basin, in an effort to cut costs as prices for the metal languish, sources familiar with the situation said. - more

  • Glencore share price: Canadian nickel tie-up with Vale revived - more

Nickel miners struggling to stay afloat - Nickel was once the toast of the mining industry, but now nickel miners say the boom is over and they're struggling to stay afloat. - more

New Caledonia’s nickel industry the subject of talks in Paris - Talks in Paris have highlighted the need to agree on a strategy for New Caledonia’s dominant nickel industry to accompany discussions about the territory’s institutional future. - more

    ISSF has published an updated version of the Stock Cycle Review and Demand Index. - more

  Morning Nickel Price Statistics & Figures

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

Friday, 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 $6.26/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mixed and subdued. Stockpiles of nickel stored in LME approved warehouses fell for a second straight session on Thursday, and now total just over the 228,850 tonne level. For the last 5 trading sessions, nickel stockpiles are up 1,308 tonnes. Well what a difference sitting down at a table and talking makes. It is obvious that House Speaker Boehner has forced the more radical faction of his party that letting the US default on its debts is not a smart play, and while the governmental shutdown has yet to be mentioned in media reports, the President and Republican House leaders are apparently negotiating a short term extension to the debt ceiling ... effectively kicking the can down the road, albeit a very short road this time. Since these two parties have proven they can only agree under duress, we expect the reprieve in the market to be short lived. And what a reprieve it has been. Yesterday, the US Dow had its best one day gain since January. Asian markets ended much higher overnight, and European markets are trading much higher today. Base metals are once again, sitting on the sideline, only garnering a very small share of market enthusiasm. LME Week has ended and traders will be back in force on Monday. As in the past, it is possible we will see post-LME Week trading make a move higher that may or may not hold, but with surging supply, we would be skeptical of any such move having much staying power.    
  • Average price of cash nickel so far this month - $6.22/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper up but facing biggest weekly loss in a month - more
  • LME Morning - Base metals tentatively higher, US developments eyed - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 82.80
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • 2012 secondary non-ferrous metals output rises - more
  • (Reuters) Colombia's Cerro Matoso, the world's No. 2 ferronickel producer, partially restarted operations on Thursday after protesting indigenous groups lifted their blockade of the mine's entrance.
  • (Yieh) It’s reported that the Korean steel giant Posco held an opening ceremony for Posco- Italy Processing Center in Verona, northern Italy on October 10th.

    China pushes H1 global stainless steel output up to record high - A jump in Chinese stainless steel output drove global production of the alloy up to a new record high in the first half this year, despite weaker demand growth in the developed world and weak pricing, an industry report showed. - more

    Nickel miners bank on rising demand - Western Australia's nickel miners believe the industry has hit rock bottom, and will be buoyed by a surge in demand by the end of the decade. - more

    Celebrate centenary of Sheffield’s stainless steel discovery - A uniquely Sheffield celebration of one of the world’s most important discoveries is taking place at Kelham Island Museum. Experts on the history and future of stainless steel, and its impact on the city where it was discovered, will be coming together for the first time as part of the Off The Shelf festival. - more

    Sumitomo Metal Mining Co., Ltd. : Trial to commence relating to the Solomon Islands international tender dispute - more

    Japan Ferrochrome: Spot price rises to 92-95 cents/lb CIF Japan - The spot price of high-carbon lumpy ferrochrome imported into Japan was assessed at 92-95 cents/lb CIF Japan Friday, up from from 88-92 cents/lb last week on the back of rising production costs in India. - more

    Survey backs copper/nickel - Mining, in all forms in Minnesota, has strong support, according to a survey commissioned by the Jobs for Minnesotans group. - more

    Talvivaara shares at record low after warning needs more funds - Finnish nickel miner Talvivaara warned on Thursday it needs another cash injection just six months after its last fundraising, prompting its biggest shareholder to say it was not sure whether to invest more in the company. - 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 10

  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 $6.26/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME approved warehouses recorded only their second loss for the month and now total just under the 229,00 tonne level. President Obama and members of the Republican House majority are meeting today and the market appears to be betting something will come from it. The media is reporting that House Republicans may be ready to blink on the debt limit with pressure from their House Leader. Asia markets ended higher overnight, European markets are trading much higher this morning, and US futures show Wall Street should open enthusiastically as well. Protests at a ferro chrome mine in Colombia and one at a closed nickel mine in Dominica Republic are making news today. The Paydirt Australian Nickel Conference is going on and there are some reports posted below, with more nickel predictions. If you want to know what will happen with nickel prices, watch China production umbers and Indonesia mining regulations.
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rises as investors see progress on U.S. deadlock - more
  • LME Morning - Metals wobble again, copper flirts with three-week lows - more

  Reports

  • Steel Founders' Society Of America Casteel Reporter - pdf here
  • Worldsteel Short Range Outlook - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.82
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • ASTM A1084 - 13 Standard Test Method for Detecting Detrimental Phases in Lean Duplex Austenitic/Ferritic Stainless Steels - more
  • (DJ) Russia Jan-Aug Aluminum, Copper, Nickel Exports Down as Demand Dips
  • China steel market may run out of steam without fresh stimulus - more
  • Small Businesses Skeptical About Future; Optimism Dips - more

    Nickel market to see supply tightness starting in 2014: Western Areas CFO - The global nickel market is set to experience some tightness in supplies for smelters starting in 2014, with the potential of increasing pressure on nickel pig iron production in China exacerbating the situation, Joe Belladonna, CFO of Australian producer Western Areas, said Thursday. - more

    Crude SUS Production by Major SUS Mills in August Is 307,638 Tons =Down by 0.7% from prior month, and NSSC, Hikari Works and NYK, Kinuura Works curtail production - The crude stainless steel production by 7 major stainless steel mills in August 2013 was 307,638 tons, down by 0.7% from 309,733 tons of the prior month. - more

    Nova-Bollinger ramp-up seen coinciding with higher nickel prices - Nickel developer Sirius Resources is confident that its Nova-Bollinger project, in the Fraser Range of Western Australia, will come on line in time to cash in on expected improved nickel prices. - more

  • Innovation needed to make nickel recovery cost-effective – Marmion - more
  • Efforts to boost the nickel sector by reducing regulation - more

    Nickel Asia's end-Sept export receipts slip on weak prices - Nickel Asia Corporation today said export receipts in the first nine months of the year dropped by more than a sixth from a year ago, as lower prices in the world market offset an increase in volume shipped. - more

    Protests close world No. 2 ferronickel mine in Colombia - Cerro Matoso, the world's No. 2 ferronickel producer owned by multinational BHP Billiton and located in Colombia, said it has temporarily shut its mine after two weeks of protests by indigenous groups, halting 4 percent of world output. - more

    Dispute over Xstrata Nickel mine sparks riot in front of Dominican Congress - Two groups in dispute over the Glencore Xstrata nickel mine project at Loma Mirada (central) unleashed a riot in front of Congress Wednesday morning, hurling stones and debris at each other, while several rioters were seen wielding guns and one shot fired.  - more

    New Caledonia Mining Documentary To Be Released In 2014 – Six years after starting his Cap Bocage documentary project in New Caledonia, New Zealand filmmaker Jim Marbrook will be ready to release the film mid-2014. - more

    Talvivaara Slumps as Liquidity Worse Than Expected: London Mover - Talvivaara Mining Co., a Finnish nickel miner, sank to a record low in London trading after saying it’s assessing all options for additional funding to offset low prices and output. - more

  • Finland's Talvivaara seeks more funds to keep mine running - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 9

  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 $6.30/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 quietly. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday, and yes, that would mean another all time record high has been set. In fact we have seen a decline in inventories only once so far this month. For today, the record total stands at 229,230 tonnes. This day last year, stockpiles stood at 124,512 tonnes. While equity markets are getting a lift on news that President Obama will nominate market favorite Janet yellen to replace Ben Bernanke as Fed Chairman. After taking a 159 point hit yesterday, US Dow futures are higher on the news. Asia markets ended higher overnight, and European markets are trading higher as well. But don't kid yourself. With the impasse in Washington appearing to get worse, and the US expected to run out of money on the seventeenth, there is still plenty of room for more volatility this week. Both parties are playing chicken and the world and many traders appear to believe that non one in Washington is stupid enough to let America default, and that a last minute deal will be orchestrated by a a few Congressmen who have not spent the last week in front of media camera's. Let us hope they are right. We find it concerning that many of the people beating the drum and saying the whole debt limit is irrelevant and those who are threatening a disastrous outcome if the limit is not raised in time - are some of the same people who claim everything the US government does is an experiment in socialism. Spending less is a great idea - but pay your bills after you've spent it.
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning -
  • LME Morning - Base metals soften, US remains key focus - more

  Reports

  • Desjardins Commodity Trends - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.88
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (FAN) Europe and South Africa's high carbon ferrochrome benchmark contract price is still 112.5 cents/lb, which remained at the same level with the third quarter.
  • (MB) Brazilian ferro-alloys producer Ferbasa has set its high carbon ferro-chrome price at $1.12 per pound for the fourth quarter of 2013, it announced recently.
  • China arrests chairman of world's largest tin producer for bribes - more
  • No Xmas in July for vendors at Yiwu's market - more
  • Taiwan Fastener Imports & Exports both Fall in First Half - more

    Stainless steel production - Preliminary figures released by the International Stainless Steel Forum (ISSF) show that stainless steel crude steel production has been further growing in the first half of 2013 with an increase of 4.6% compared to the same period of 2012. - more

    Britain's financial watchdog backs LME's warehousing consultation - Britain's financial watchdog homed in on the London Metal Exchange's (LME) warehousing crisis, stressing the importance of its global storage network to maintain the integrity of the market. - more

    World Stainless Steel price Forecast - MEPS – World Average Stainless Steel transaction values increased for most products in September. - more

    Offer Prices of CR Austenitic Stainless Sheets to Be Lowered $50-100 - Negotiations on cold-rolled (CR) austenitic stainless steel sheets in the Asian region have been undertaken for November shipment, and offer prices of them are falling by $50-100 from those for October shipment mainly to the level of $3,350 CFR again. - more

    SUS Scrap Market in Oct. Starts with Same Level as Prior Month =Demand from domestic mills is active before furnace repair and POSCO' purchase price is a little bit down= The price of nickel-containing stainless steel scrap (SABOT) to be purchased by Japanese stainless steel mills in October has started with the same level as the prior month of JPY143,000 - JPY144,000 per ton while carrying over the actual condition in September. - more

    Mirabela Nickel suspends trading in its stock -  Struggling nickel miner Mirabela Nickel has suspended trading in its shares after failing to update the market today. - more

    Commodity Prices Wrong as Often as 27% of the Time for Traders - Commodities traders who buy and sell as much as $5.67 trillion of raw materials a year say the benchmark prices for everything from oil to iron ore to gasoline are wrong as often as 27 percent of the time. - more

    Mining group poll shows copper-nickel mining support - A group organized to help push copper mining projects in northeastern Minnesota released the results of statewide polls Tuesday that shows support for copper projects here. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 8

  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 $6.30/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.05/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME licensed warehouses continue to set all time record highs on a daily basis, and now totals 228,066 tonnes. Nickel jumped back to trading levels of early last week, for no real reason other than ending a week long slide and keeping nickel trading within a narrow band. We are seeing a broad range of nickel forecasts this week, many coming from the LME Week meetings. Norilsk is rather gloomy, forecasting it will take two years to bring nickel back to a more balanced stock level and rising prices. Others are not quite so pessimistic, but remain far less than bullish. The trump card remains the Indonesia nickel ore ban, and until a determination is made on whether the island will enforce the ban of 2014, or suspend it, it will be hard for anyone to forecast nickel's future. We do agree with Norilsk's observation that LME stockpile levels are unprecedented. This from a company, that years ago, liked to keep their own top secret stockpiles - and which were sometimes revealed to be of a staggering quantity.  
  • Average price of cash nickel so far this month - $6.21/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises in London as PMI Report in China Signals Growth - more
  • LME Morning - Base metals tread higher; copper sees resistance at $7,300 - more

  Reports

  • The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2013 and 2014. - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.97
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Output growth eases in manufacturing, service - more
  • (SO) In September, the purchasing managers' index (PMI) of China's steel sector decreased to 49.2%, down 4.2% points month on month, as announced by the China Steel Logistics Committee.
  • Madagascar Presidential Candidate Vows Tax Cuts for Economy - more
  • Neutral outlook for tropical Pacific and Indian Oceans - more

    China's 2014 metals demand seen brightening, helped by building drive - China is expected to import more refined copper in 2014 as Beijing steps up building of power networks, rail lines and low-cost homes, while domestic production is likely to be squeezed by tight scrap supply, industry sources said. - more

    Community in the dark over nickel mine - A vulnerable Indonesian community has been let down by a failing legal system and international human rights mechanisms, according to a new report. - more

    Norilsk says will take years to deplete nickel stocks, boost prices - Nickel prices are unlikely to recover for another two years as producers struggle with "unprecedented" low prices and a 100,000-tonne surplus, an executive at Russia's Norilsk Nickel said on Monday. - more

    LMEWEEK-Long-term copper price lifted by higher costs, demand growth - Long-term copper prices should be boosted by rising cost inflation and a bullish outlook for demand from top consumer China, prompting analysts to revise prices for the next 10 years up by more than 8 percent, a Reuters survey showed on Monday. - more

    No plans to step down for Norilsk Nickel's billionaire CEO Vladimir Potanin - When he took the helm of Norilsk Nickel last December as part of a deal that ended a long-running shareholder battle, Russian billionaire Vladimir Potanin hinted he saw himself in the job for roughly two years. - more

    Courtesy AISI - In the week ending October 5, 2013, domestic raw steel production was 1,873,000 net tons while the capability utilization rate was 78.2 percent. Production was 1,709,000 net tons in the week ending October 5, 2012, while the capability utilization then was 68.7 percent. The current week production represents a 9.6 percent increase from the same period in the previous year. Production for the week ending October 5, 2013 is up 1.1 percent from the previous week ending September 28, 2013 when production was 1,852,000 net tons and the rate of capability utilization was 77.3 percent.

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • 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 7

  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 $6.18/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading mixed and mostly lower as well. Stockpiles of nickel stored in LME approved warehouses rose to a new all time record high on Friday and now totals 227,928 tonnes. As the US government shutdown continues and after a weekend of talk tv showed both sides have dug in their heels with little change of a quick resolution, world equity markets are lower today. The US government shutdown itself matters less to world markets, than the upcoming debt limit talks.  In about two weeks, the US will no longer be able to pay its bills, and the same branches of government who can not decide on a federal budget extension, must agree on terms to raise the debt limit. Republican House Leader Boehner has been quoted as saying he will not allow the government to default, but the 'Tea Party' faction of his party has successfully forced his hand on the shutdown issue, and this has markets nervous on his ability to manage the majority party of the House. The London Metal exchange begins LME Week today, so we expect trades to be less active over the next few days. All eyes will remain on Washington this week, with markets becoming more volatile as long as uncertainty continues to rule.
  • Average price of cash nickel so far this month - $6.19/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls on Continuing Deadlock Over U.S. Borrowing Limit - more
  • LME Morning - Metals lower, trade light as LME Week starts - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.06
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Worst Stocks to Reverse With Commodity Profits Rising 18% - more

    China's 2014 metals demand seen brightening, helped by building drive - China is expected to import more refined copper in 2014 as Beijing steps up building of power networks, rail lines and low-cost homes, while domestic production is likely to be squeezed by tight scrap supply, industry sources said. - more

    Nickel production cuts to remove around 33,000t from market in 2014 - Two significant production cuts were announced in the nickel market in the past week which will signify around 33,000t of lost production in 2014. - more

    Forecast on Demand for Special Steel During October to December 2013 - On October 1, the Ministry of Economy, Trade and Industry made clear its forecast on the demand for special steel products during the period from October to December in 2013 (Presentation was made at Special Steel Association of JAPAN). - more

    Nickel hopefuls plug on despite supply glut - Nickel miners must wake up in the mornings expecting every new day to slap them in the face. -  more

    PolyMet study: Water from mine site would need 500 years of treatment - If the PolyMet copper-nickel mine is built and operates north of Hoyt Lakes, water that runs off the site will have to be treated for hundreds of years or more to remove sulfate and metals to meet water quality regulations. - more

  • Iron Range mine could pollute water for up to 500 years - more

    Limited upside seen for Indian prices on large supply - Market participants in Asia are expecting higher offers from Indian high carbon ferrochrome suppliers in the near term but there are doubts about whether higher offers could be realized given the current large supply in the market. - more

    Key Takeaways from the IMOA’s Annual General Meeting - At the International Molybdenum Association’s (IMOA) annual general meeting, held last month in Salt Lake City, Utah, a number of experts analyzed the moly market and presented their outlook for the metal moving forward. - more

    Norilsk Plans $10 Billion Investments by 2018 to Boost Output - OAO GMK Norilsk Nickel, the world’s largest nickel and palladium producer, plans to invest as much as $10 billion in five years to boost output. - more

  Morning Nickel Price Statistics & Figures

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

Friday, October 4

  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 $6.212/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb higher, with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME approved warehouses rose to another all time record high on Thursday and now totals 227,562 tonnes. Of four reporting days so far this month, a new record has been recorded on three of them. Of twenty reporting days in September, a new record was recorded on thirteen of them. One year ago today, LME warehouses held 123,114 tonnes. Nickel continues to drift, bobbing up and down in the waves. Until Indonesia decides what it is going to do on January 1st - either enforcing or backing off a total export ban of nickel ore. A ban will have a major negative effect on China's feed stock, and could support higher prices. Most believe Indonesia will back off this ban and will add higher taxes to future exports. The US governmental shut down is in Day 4 and according to media reports, there is no end in sight. An anonymous report yesterday that Speaker of the House John Boehner will not allow the US to default helped markets move off session lows. The Dow is trading below 15,000 - again. The all important labor report today will not be issued today due to the governmental shutdown. In overnight trading, Asian markets ended lower. European markets are trading slightly higher this morning, and US futures are also slightly higher. Have a safe and relaxing weekend!
  • Average price of cash nickel so far this month - $6.20/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steady on China return, wary on U.S. standoff - more
  • LME Morning - Prices drift aimlessly, rangebound while US govt impasse goes on - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.06
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • The International Nickel Study Group (INSG) forecast a global surplus of 140,000 tonnes of nickel this year on Thursday in their monthly bulletin.
  • (SO) According to statistics released by Japan's Ministry of Finance, Japan's nickel ore imports totaled 392,064 metric tons in August this year, down 18.2 percent month on month and decreasing by 4.9 percent compared to August 2012.
  • (SM) According to the most recent statistics released by the Latin American Steel Association (ALACERO), imports of finished steel by Latin American region from China during the initial eight-month period soared 27% over the year.
  • China Invests Total $28.2b in Indonesia Industry: Hidayat - more

    Nickel Ore Shipments - Lessons Learned From Losses - One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fuelled by China’s thirst for nickel ore as it is the principal alloy component for stainless steel. - more

    Asia Ferrochrome: Limited upside seen for Indian prices on large supply -  Market participants in Asia are expecting higher offers from Indian high carbon ferrochrome suppliers in the near term but there are doubts about whether higher offers could be realized given the current large supply in the market. - more

    Zim mines key to Mwana Africa’s growth - Bindura Nickel Corporation and Freda Rebecca mine will be central to UK-listed Congolese mining house Mwana Africa Ltd’s operations, according to incoming chairman Mark Wellesley-Wood. - more

    Mirabela falls further into strife - Mirabela Nickel's future looks uncertain as its share price continues its freefall, slumping to below 1c following a series of downgrades by ratings agencies after the company flagged a possible default on a debt facility. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 3

  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 $6.21/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mixed, mostly quiet, and mostly lower. Stockpiles of nickel stored in LME approved warehouses slipped on Wednesday and now total just under the 227,000 tonnes level. Yesterday, the Dominican Republic government snubbed Xstrata by turning some land that Xstrata was looking at mining on, into a protected National Park. Today, Xstrata'a owners responded by shutting down Falcondo, the operating nickel mine there. China's non manufacturing PMI rose in September, and that helped Asian shares end higher. European equity markets are lower this morning, and US futures are also lower, on the US government shutdown concerns. Traders are not finding any hints of a possible end to this shutdown and with a debt limit situation just around the corner, concerns are growing this stalemate will turn into something much worse. There is no panic, yet, and some traders are apparently deciding not to risk their investments and pulling some money out of the markets. Nickel is trading today almost exactly where it was last month this date, and going no where fast.
  • Average price of cash nickel so far this month - $6.21/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines as U.S. Government Shutdown Enters Third Day - more
  • LME Morning - Base metals ignore euro's 6-mth high, tread water in thin trading - more

  Reports

  • 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.06
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more

    Quarterly Contract Price of LC FeCr Is US Cents 194 -196/lb Also in Oct-Dec =Price remains at same range in 4 consecutive quarters= The price of low-carbon ferro-chrome for the period from October to December in 2013 Japanese stainless steel mills negotiated with overseas ferroalloy producers has been settled at US Cents 194 - 196 per lb. - more

    Glencore Xstrata to close nickel mine in the Dominican Republic - The global mining and commodities trading giant Glencore Xstrata is suspending operations at its Falcondo nickel mine in the Dominican Republic due to falling nickel prices. - more

  • Xstrata halts nickel mine just 24 hours after project declared National Park - more

    Mirabela Nickel on the brink - Mirabela Nickel could be forced into administration in coming weeks if it defaults on a loan.- more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 2

  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 $6.26/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to another all time record high on Monday, recording a total of 227,292 tonnes. China is closed for a holiday this week, and now the US government is closed due to stupidity. Equity markets are lower today, as traders started noting that the House Republicans were not yet moving from their hard line, and this dispute could keep the government shut down for an extended period. Traders are also nervous that if the two can not agree on this issue, the status of the debt limit talks will go no where, and with the US in danger of defaulting around mid month, the fear of unknown repercussions is making many nervous around the world. Traders have become numb to these constant down-to-the-wire disputes and appear to be only slightly surprised so far, that there were no last minute solutions. We expect trades to become more volatile as debt ceiling negotiations begin, and Americans to become less amused, as the closure starts to affect their personal lives.
  • Average price of cash nickel so far this month - $6.23/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings Between Gains and Drops Amid Shutdown in U.S.- more
  • LME Morning - Base metals consolidate, look for direction - more

  Reports

  • 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.06
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Norilsk to Pay at Least $2Bln Dividend - more
  • Australia Increases Iron Ore Estimate on Chinese Demand Outlook - more

    Press Release - For the month of October 2013, North American Stainless will maintain the fuel surcharge at 33% for stainless flat and long products.

    Merafe Resources - Shareholders of the Company are advised that the European benchmark ferrochrome price for the fourth quarter of 2013 has been settled at 112.5 USc per pound which is a rollover from the price in the third quarter of 2013.

    Commodities Market Little Help for Metal Industry, Solidium Says - The commodities market will offer scant relief to metal producers struggling with overcapacity and low prices in the coming months, according to the head of Finland’s equity-asset manager. - more

    Middle Eastern and South African business alliance set to become World's largest Ferrochrome Exporter - A strategic alliance between high-profile Middle Eastern and South African business leaders is set to challenge global monopolies in the supply of beneficiated ferrochrome after the conclusion of a multi-million dollar investment transaction this month. - more

    Lawmakers deal blow to Xstrata Nickel’s planned mine - Loma Miranda, in central La Vega province, was declared National Park today, after the Chamber of Deputies passed the bill in an emergency session with two roll calls, dealing a blow to a planned nickel mine. - more

    Mirabela sounds default warning - Mirabela Nickel has warned that it may be set to default on its debt covenant after one of its two main customers announced it would terminate its nickel concentrate purchase agreement a year earlier than expected. - more

    Mwana Africa looks to Freda Rebecca mine and Bindura Nickel for self sufficiency - Mwana Africa’s new chairman Mark Wellesley-Wood sounded an upbeat note as he said the group had defined a three-pronged strategy, which he believes will deliver significant value over coming months. - more

    Notice to visitor: Due to the lapse in government funding, the International Trade Administration website you are trying to reach will be unavailable until appropriations are enacted. We sincerely regret this inconvenience. - more

  • Due to the lapse in government funding, census.gov sites, services, and all online survey collection requests will be unavailable until further notice. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 1

  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 $6.32/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses ended the month of September much like they started, closing with a new all time record high reading of 227,004 tonnes. PMI numbers have disappointed so far today, with Japan rising by .3%, China rising by .1%, and Europe slipping by .3%.  US readings will be released later today and are expected to slip by .7% from 55.7 to 55.0. The US government is partially shutdown after the US House of Representatives and US Senate were unable to agree on a budget bill. Next up - an even more contentious, if that is possible, argument over the debt ceiling, as the government is expected to run out of money within a  few weeks. Equity traders seem to be dismissing the partial government shutdown, at least for the moment, with European markets mostly higher, and the Dow futures higher as well. Markets aren't really sure how to react, but expect the world of commerce to continue as expected. The shutdown will have to be extended before we start to see any significant impact on the economy, but if it lasts more than a week or so - it will start to have an effect. The debt limit talks will continue to garner more attention in the coming weeks.  
  • Average price of cash nickel so far this month - 0
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Metals prices drift back, ranging continues - more

  Reports

  • Steel & Metals Market Research Monthly Stainless Briefing - more
  • ThyssenKrupp Stainless USA Stainless Steel Surcharge - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.06
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Biggest Raw-Materials Rally of Year Seen Stalling - more
  • (China) Manufacturing PMI hits 17-month high in Sept - more
  • World Economic Outlook (WEO) - more

    Outokumpu should help itself, says state fund - Outokumpu should try to solve its own problems even though the steel company's heavy debts have raised the prospect it might need more money from shareholders at some stage, the head of Finland's state investment fund Solidium said. - more

    China's Import & Export Results of Nickel in August 2013 - The customs statistics of China shows the import & export results of nickel-containing products in August 2013 in the table below. - more

    Japan's 2013 crude steel output could hit 5-year high -METI - A rush to build homes ahead of a sales tax hike next year and a jump in government infrastructure spending have helped boost steel demand in Japan, driving production increases and likely leading to crude steel output hitting a five-year high this year. - more

    Russia's Norilsk Nickel cuts 2013 dividend target - Russia's Norilsk Nickel, the world's biggest nickel and palladium producer, has lowered its dividend target for 2013-14, its co-owner, aluminium giant Rusal said on Tuesday, as oversupply in its key market hurts prices. - more

    Royal Nickel has high hopes for Dumont mine - Resource companies keep an eagle eye on the economic cycle and Royal Nickel Corp. believes its $1.2 billion U.S. Dumont nickel mine in northwestern Quebec will start up in 2016 as metal prices swing higher. - more

    Forrest's aide takes over at Poseidon helm - Poseidon Nickel has moved to minimize the impact from the surprise resignation of chairman Andrew Forrest, with the battling resources company appointing a trusted lieutenant of the billionaire as its new chairman. - more

    Courtesy AISI - In the week ending September 28, 2013, domestic raw steel production was 1,852,000 net tons while the capability utilization rate was 77.3 percent. Production was 1,751,000 net tons in the week ending September 28, 2012, while the capability utilization then was 70.4 percent. The current week production represents a 5.8 percent increase from the same period in the previous year. Production for the week ending September 28, 2013 is down 1.3 percent from the previous week ending September 21, 2013 when production was 1,877,000 net tons and the rate of capability utilization was 78.3 percent. - more

  Morning Nickel Price Statistics & Figures

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

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