This page is archived news covering the period of October 2014
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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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Nickel Prices and Stainless Steel Bolts

Stainless Steel News and Prices

Friday, October 31

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Thursday's trading session at $7.15/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.12/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel store din LME licensed warehouse rose to another record high on Thursday and for the last day of October 2014, total 383,442 tonnes. On this date last October, totals recorded 237,576 tonnes. Most world commodity and equity markets are trading higher this morning, after Japan surprised markets, and expanded its quantitative easing measures. Japan has been in a two decades long period of deflation, and its using the easing measures to stimulate the economy into inflation. A recent tax increase by the government had put a damper on earlier stimulus measures. And while Japan is trying to stimulate inflation, its neighbor Russia raised interest rates to slow inflationary pressure in that country. Russia is being hit hard with economic sanctions and the fall in the price of oil. Of concern to the stainless and nickel markets, is news that the Macquarie Commodities Research team has lowered stainless steel production estimates for 2015. We will advise if we learn further on this forecast. Nickel will close up for the week, but before you get overly excited, it is back to trading where it was early last week. Have a safe and relaxing weekend. And Happy Halloween!
  • Average price of cash nickel so far this month - $7.15/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Leads Industrial Metals Higher on Japan Stimulus - more
  • Reuters metals morning - London copper on track for monthly gain; Japan stimulus sparks rally - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.63
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (FAN) According to report of Macquarie Commodities Research, it has reduced the forecast for the global stainless steel output by 4.3% in 2015 on the yearly basis. Macquarie expected that the stainless steel production would increase by 9.8% in this year compared to the previous year.
  • Macquarie’s LME Week Base Metals Summit Survey - more

    China's Import & Export Results of Nickel in September 2014 - The customs statistics of China shows the import & export results of nickel-containing products in September 2014 in the table below. - more

    Vale May Oust Norilsk as Biggest Nickel Producer as Price Surges - Vale SA is poised to oust Russian billionaire Vladimir Potanin’s OAO GMK Norilsk Nickel as the No. 1 producer of the metal as prices rose 15 percent this year. - more

    Nickel reforms after the fall of NPI - The output of lower grade pig iron is declining, due to the effect of the price on the production rate of the current situation, and this could be favorable in balancing the market, stated the analysts, Roger Yuan and Max Layton, in the report which was published today. - more

    Shake-out of ferrochrome industry overdue - India's ferroalloys producers have built capacity of 5.25 million tonnes (mt), including 3.2 mt of manganese alloys and 1.75 mt of chrome alloys, anticipating much faster growth in domestic production of carbon, alloys and stainless steel than is actually the case. - more

    Non-Ferrous Metals Division: Members urged to share container theft details - Those making decisions with important repercussions for recycling are often ignorant of the environmental and economic benefits accrued from scrap, argued Robert Stein of US-based Alter Trading in his final address after more than seven years as President of the BIR Non-Ferrous Metals Division. “Governments too easily are swayed by political concerns when establishing policies that are often poorly thought out or are influenced by groups that are more interested in their own agenda,” he declared in Paris on October 28. - more

    Norilsk Nickel issues Q3 production results - Norilsk Nickel, the world's largest nickel and palladium producer, announces preliminary consolidated production results for the third quarter of 2014 and nine months of 2014. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 30

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $7.09/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.14/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses have broken records each day this week, with today's record at 381,762 tonnes. The market price of nickel jumped on Tuesday and we think it primarily has to do with an article published by SMM that started "China is expected to use up nickel ore inventories by April 2015, Shanghai Metals Market foresees. Nickel ore inventories at China’s five major ports, namely Tianjin, Rizhao, Lanshan, Lianyungang and Jingtang, which combines to account for 70% in the country’s total port stocks, have been falling as a whole. As of Oct. 10, stocks at the five major ports were 15.27 million tonnes, down 3. 12 million tonnes or a drop of 17% from last year’s end, according to SMM data.' This news was somewhat offset by an Australian article that started "Commonwealth Bank commodity analysts Lachlan Shaw and Vivek Dhar say a nickel surplus in 2015-2016 is looking more likely." Surplus? 2015? Say what? So from China we hear news that China may run out of nickel ore used to make 'pig nickel' (we don't hear it called that much anymore) by mid year 2015, while analysts in one of the largest producers of refined nickel is forecasting a possible surplus next year. And that is why long range planning for nickel and stainless steel pricing - is no more than a crap shoot these days. There are sites out there catering to purchasing agents telling them something different each week and a month later, reminding their readers how correct they were - but failing to remind them of the faulty forecasts they made the prior week. The honest approach is no one knows what is going to happen and if they did, they could be so rich in a few months, they wouldn't need to share their secret, or what they know. After the Indonesia ore ban in January, the supply of nickel should have started to tighten around the middle of this year. They have not. So when analysts and miners say the say about next year, traders are more skeptical these days. In the mean time, the US Dollar is stronger and this is adding negative pressure on commodities in general, and nickel in particular.    
  • Average price of cash nickel so far this month - $7.16/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Drops From Six-Week High as Dollar Climbs on Fed Decision - more
  • Reuters metals morning - London copper drops as dollar rallies on Fed comments - more

  Reports

  • BIR World Mirror on Stainless Steel & Special Alloys - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 79.75
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    China's nickel ore, concentrate imports to taper or stay flat: analysts - China's imports of nickel ore and concentrate in the coming months are expected to taper or remain flat due to the start of the monsoon season in parts of Southeast Asia, weak nickel ore prices and slow demand, analysts said. - more

    Goldman Sees Nickel Rally Following a Drop in Pig Iron - Nickel prices in London may advance on slower stockpile builds as output of a lower-grade alternative drops in the coming months, according to Goldman Sachs Group Inc. - more

    Sherritt CEO expects rebound in nickel market over next year - There will be a rise in demand for nickel over the next year as a sustained period of excess supply ends due, in part, to Indonesia's ore export ban, the chief executive of Canadian miner Sherritt International Corp told Reuters. - more

  • Sherritt gains on plans to cut 10% of its workforce, to save $10mln per year - more

    China faces friction over steel exports - China has boosted exports of steel qualifying for a generous tax exemption to some Asian countries, triggering claims that mills in the world's biggest producer are taking advantage of the rebate to sell surplus steel cheaply. - more

    Metals Investors Seeing Slowdown Head for Exit From ETFs - Investors are pulling out of industrial-metals funds at the fastest pace in 15 months, signaling increased concern that a faltering global economy will slow demand for everything from cars to appliances. - more

    Courtesy AISI - In the week ending October 25, 2014, domestic raw steel production was 1,835,000 net tons while the capability utilization rate was 76.3 percent. Production was 1,832,000 net tons in the week ending October 25, 2013, while the capability utilization then was 76.5 percent. The current week production represents a 0.2 percent increase from the same period in the previous year. Production for the week ending October 25, 2014 is up 0.7 percent from the previous week ending October 18, 2014 when production was 1,822,000 net tons and the rate of capability utilization was 75.7 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 news and information free of charge. Contact us

Monday, October 27

Chart temporarily down

    We will be on the road the next few days so our next update will be on Thursday.  

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Dow Jones is reporting three month nickel closed Friday's trading session at $6.78/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.09/lb lowe,r with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses did not gain much on Friday, but any will set a new record and we start this week at 378,222 tonnes. Shanghai Metals Market is reporting that only one of the five major ports they monitor received nickel ore last week. Nickel is still getting a lot of media attention, thanks in part to its deep price slide. We had support at $6.78/lb, which is now in danger of being breached. We are traveling the next few days and will be unable to post an update. We have added teh Kitco price indicator chart for our cell phone users. We apologize for the inconvenience and hope to see you back on Thursday.
  • Average price of cash nickel so far this month - $7.21/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Hits Near Seven-Month Low as Growth Worries Linger - more
  • Reuters metals morning - LME copper drifts lower as supply pick-up pressures prices - more

  Reports

  • SSINA - The Future of the Specialty Steel Industry in North America - pdf here
  • Oryx Stainless - Macquarie: When equities sneeze, commodities catch a cold - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 80.88
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SMM) NPI Producers in Inner Mongolia are expected to halt production from October 25, Shanghai Metals Market survey shows. The massive closures are expected to last for 1-2 months, SMM learns.
  • (MB) China imports less chrome ore and ferro-chrome in September
  • (MF) Russia's stainless crude steel output drops in Jan-Sep
  • (SSY) Total crude steel production for the 65 countries reporting to the World Steel Association was down marginally by 0.1% year-on-year to 134.4 Mt in September. This marked the lowest monthly total since February.

    China's nickel ore, concentrate imports to taper or stay flat: analysts - China's imports of nickel ore and concentrate in the coming months are expected to taper or remain flat due to the start of the monsoon season in parts of Southeast Asia, weak nickel ore prices and slow demand, analysts said. - more

    -LME Week rings the changes for the world of metals: Andy Home - Another LME Week, the annual pilgrimage of the global metals industry to London, has come and gone. - more

    China Orders to Stop FA Production in Wide Area in Inner Mongolia = From mid-October until APEC finishes in Beijing = It seems China has made a major-scale order to stop production of ferroalloys in the wide area including Fengzhen City in Inner Mongolia from October 20 to mid-November. - more

    Sumitomo appeal of nickel mine ruling to be heard in early 2015 - Axiom - An appeal by Japan's Sumitomo Metal Mining Co Ltd against a Solomon Islands court ruling giving Australia's Axiom Mining Ltd prospecting rights to a nickel deposit is expected to be heard early next year, Axiom said on Monday. - more

    Cyprus court dismisses billionaire Potanin’s ex-wife’s claim to his property - A Cyprus court has dismissed a lawsuit filed by former wife of Norilsk Nickel CEO Vladimir Potanin, Natalya Potanin, laying claim for her ex-husbands property, Potanin’s press office told RAPSI on Monday. - more

  Morning Nickel Price Statistics & Figures

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

Friday, October 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Thursday's trading session at $6.90/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses rose to yet another record high yesterday and now total 378,132 tonnes. Nickel dropped to $15,000/tonne ($6.80/lb) early this morning and the bulls fearful of another psychologically important breach, have pushed the price back above that level since. We would almost make the wildest forecast in the world today, based on our deep belief that the media can't time anything correctly, but just don't feel the fundamentals can back up such a risky call. Reuters, Bloomberg and other major business media outlets are all suddenly noting nickel's losing streak. So a cynical person, would almost say nickel must be nearing a turn around point. Glencore would like permission for Xstrata to dig deeper, if nickel will climb higher. Vale's producing more nickel than it has in years, which would be good at a time when the market is in deficit. But the market hasn't quite turned out like most of the analysts forecast earlier this year, and the surplus production by Vale and others is keeping the price of nickel in check. Another week of growing inventory and slumping prices. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $7.24/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Heads for Longest Losing Streak in 13 Years on Stockpiles - more
  • Reuters metals morning - Copper, base metals fall after weakness in Chinese house prices - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.22
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • China's manufacturing activity at three-month high in Oct - more

    Nickel tanks on rising stockpiles - Nickel is on its way of the longest run of weekly losses since 2001 on rising inventory level amid concerns of a slowdown in China. - more

    Vale Coming of Age as Nickel Heavyweight as Prices Sink - Vale SA, whose $18 billion base-metal incursion was beset by a slew of delays and stoppages, is growing nickel output at the fastest pace in six years at a time of tumbling prices for the stainless steel ingredient. - more

    Price of Ni SUS Scrap Again Drops to JPY170,000/Ton in Late October = Some traders offer JPY160,000/ton with preceding price cut = As to the price of nickel-containing stainless steel scrap (SABOT) purchased by Japanese Stainless Steel mills, major stainless steel mills announced another price cut, and the price of JPY170,000 per ton (delivered at factory) is now prevailing in the market in late October. - more

    Glencore digging deeper for new mines - The future of Glencore's nickel operations in Sudbury will require deeper mines to access previously untapped deposits, said Marc Boissonneault, the company's vice-president of Sudbury nickel operations. - more

    Govt will not fund BCL acquisitions - BCL general manager Daniel Mahupela says the P3.1 billion acquisition of Tati Nickel Mining Company(TNMC) and Nkomati Mines will not be funded by government but from a combination of debt and company cash reserves. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 23

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $6.91/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses rose to a new record high on Wednesday, and now total 377,538 tonnes. A reader from Australia shared an interesting chart (LME stockpiles) offering a different perspective of current inventory numbers. Base metals started the trading day moving higher on speculation the EU will take further steps to stimulate their economies, but that enthusiasm has since faded. Little market news to report today.
  • Average price of cash nickel so far this month - $7.27/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Climbs as Chinese Manufacturing Growth Exceeds Estimates - more
  • Reuters metals morning - Copper gains on Chinese manufacturing data - more

  Reports

  • Allegheny November Stainless Steel Surcharge - more
  • North American November Stainless Steel Surcharge - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.44
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    Outokumpu lowers European stainless steel surcharges for November - Monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products for November in Europe are set to fall, first mill announcements indicate. - more

    China Nickel Imports and Exports Data September 2014 - The General Administration of China Customs released data of China's September imports and exports of nickel on Oct.22 (Unit: mt) - more

    Stefan Ioannou: Copper, Nickel and Zinc Won't Be Cheap for Long - The all-powerful U.S. dollar is currently hammering base metals and base metal equities. - more

    ThyssenKrupp starts procedure to cut 550 job at Italian plant - German industrial group ThyssenKrupp said on Thursday it had started procedures to cut 550 jobs at its Italian stainless steel plant after talks between unions and the company broke down overnight. - more

    Stainless steel gets too hot for workers checking the arch for corrosion - U.S. Park service officials call it a condition assessment of the Gateway Arch. But, that might be an understatement of the Intrados. That`s the interior curved surface of the famous structure. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 22

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $6.95/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME approved warehouses fell for only the third time on Tuesday, with totals now just over the 377,000 tonne level. While stockpiles have fallen three times this month, the three negative readings total less than yesterday's gain alone.  Nickel is trading choppy this morning, although in a tight range. Nickel is having a hard time getting back to the $7/lb level, with the overall trend still looking negative. Next support is at $6.85/lb, which was tested and held earlier this week.
  • Average price of cash nickel so far this month - $7.29/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Zinc Rises as Stockpiles at Two-Month Low Signal Shortage - more
  • Reuters metals morning - London copper holds gains as markets eye ECB bond buys - more

  Reports

  • AK Steel Stainless Steel November Surcharge - pdf here
  • The October 2014 Casteel Reporter - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 81.91
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • China Sept refined nickel imports 8,663 tonnes, down 27.61% yr/yr
  • About Those Falling Commodity Prices - more
  • BHP production up but prices down - more
  • Star Light, Star Bright - more

    China Nickel Ore Imports From Philippines Fall From Record High - China’s nickel ore imports from the Philippines fell from a record high as buyers hesitated to purchase amid declining prices. - more

    Prices of CR Austenitic Stainless Sheets Lackluster in East Asia - The market prices of cold-rolled (CR) austenitic stainless steel sheets after the Anniversary of the Founding of China seem to be falling to the level of $2,600-2,650 CFR in case of products to SUS304 in the East Asian region due to customers' strong wait-and-see attitude. - more

    September 2014 crude steel production - World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 134 million tonnes (Mt) in September 2014, a slight decrease of -0.1% compared to September 2013. - more

    Water wars - Two of Kambalda's heaviest hitters are headed for the Supreme Court, with South Africa's Gold Fields launching legal action against BHP Billiton over the supply of water to its St Ives operation. - more

    Is This Crunch Time for Base Metals? - Anyone investing in industrial metals needs to be patient. Copper, nickel, zinc and tin are likely to suffer low prices for some time yet, traders and analysts warn, though many are hopeful they’ll hit a floor soon. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 21

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Monday's trading session at $6.93/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals trading mixed but all in an apparent upward trend, after an early morning fall for many of them. Stockpiles of nickel stored in LME licensed warehouses rose to another record high yesterday and now total 377,136 tonnes. This is typically a subdued week of trading, with many traders attending LME Week meetings and parties. Nickel fell early this morning on news that third quarter China growth was less than hoped. But as the US Dollar weakened on the news, and traders decided the news wasn't as bad as it initially appeared (slower growth due primarily to real estate), nickel has recovered from earlier losses and is trading higher. Look for the $7/lb level to become a psychologically important mark for traders. According to media reports, Robin Bhar, an Societe Generale SA analyst with a proven track record, is still forecasting nickel will witness substantial shortfall next year. And Natixis is forecasting nickel will average $8.62/lb next year.
  • Average price of cash nickel so far this month - $7.32/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Aluminum Rebounds as Copper Extends Gains in London Trading - more
  • Reuters metals morning - Zinc, nickel slide on supply, uncertainty over China - more

  Reports

  • ISSF Update of Stainless Steel Statistics available - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • General Corrosion Resistance The normal state for stainless - more
  • Russia's Norilsk to add over $400 mln from asset sales to dividend -RIA - more
  • Tropical Pacific warm, but remains neutral - more

    Natixis sees LME Nickel to avg $19,000 a ton in 2015 - LME nickel prices are expected to average $19,000 a ton during next year, said Natixis in its Metals review. - more

    World Nickel output and utilization to increase in 2015, says INSG - The participants at the meeting held last week by the International Nickel Study Group (INSG) in Lisbon, Portugal has predicted significant growth in global Nickel production and consumption during 2015. - more

     Macquarie’s LME Week Base Metals Summit Survey - Macquarie’s Base Metals Summit, a linchpin of LME Week for the past decade, was held today where an audience of over 400 market participants were polled on their views on the outlook for base metals over the next 12 months. - more

    Things can only get better in HKEx and LME's marriage? - For the tie-up to operate more smoothly after a bumpy start, both parties need to boost their trading volumes and launch more products. - more

    Courtesy AISI - In the week ending October 18, 2014, domestic raw steel production was 1,822,000 net tons while the capability utilization rate was 75.7 percent. Production was 1,832,000 net tons in the week ending October 18, 2013, while the capability utilization then was 76.5 percent. The current week production represents a 0.5 percent decrease from the same period in the previous year. Production for the week ending October 18, 2014 is up 1.0 percent from the previous week ending October 11, 2014 when production was 1,804,000 net tons and the rate of capability utilization was 75.0 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 news and information free of charge. Contact us

Monday, October 20

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Friday's trading session at $7.11/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.14/lb lower, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME licensed warehouses rose to another record high on Friday and now totals 376,506 tonnes. Shanghai Metal Market reports that nickel ore stockpiles in China's five major ports rose by 280,000 tonnes last week, and now total 15.55 million tonnes, up from 15.27 million last week.Nickel prices were holding up well this morning, until the last few hours and it appears the pressure of a slumping European equity market is offsetting a stronger Euro. Short term daily indicators are all negative at the moment, but the traded price appears to be stabilizing. Looks like another interesting week ahead.
  • Average price of cash nickel so far this month - $7.35/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Drops Before China’s GDP Data; Aluminum Advances - more
  • Reuters metals morning - Copper slips as Chinese growth, supply weighs - more

  Reports

  • International Nickel Study Group October 2014 Meetings Press Release - pdf here
  • The Dig – Haywood Mining Team’s week in review - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.80
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) Daily crude steel production at China Iron and Steel Association member mills rose to its highest level since mid-August, of 1.804 Mt in the first 10 days of October, according to data from the industry body reported by Reuters.

    Norilsk sheds African assets in $337m deal - Norilsk Nickel is set to sell its African assets to Botswana-based mining company BCL for $337-million, as the Russian miner’s newly adopted strategy to shed all international assets moves forward. - more

    Indonesia raises Vale nickel royalty, forces share sale - Brazil's Vale SA said on Friday that a revised nickel-mining contract with Indonesia will raise maximum royalties, cut land holdings and require its Indonesian unit to sell another 20 percent of its shares to local investors. - more

    Sherritt CEO predicts rising nickel prices, supply deficit - With a bitter proxy battle now behind it, Sherritt International Corp. can focus on its projects, including the Ambatovy deposit in Madagascar for which the company has a new reserve estimate. - more

    Talisman to pay $10m for Glencore’s idled Sinclair nickel mine - Minerals explorer Talisman Mining has signed an agreement with major Glencore’s Xstrata Nickel Australasia Operations to acquire the Sinclair nickel mine, in Western Australia, for a deal valued at A$10-million. - more

  Morning Nickel Price Statistics & Figures

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

Friday, October 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Thursday's trading session at $7.05/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.02/lb higher, with most other London traded base metals trading higher as well. Stockpiles of nickel, after taking a day off, resumed setting new records and today's recorded high is 375,492 tonnes. While nickel is trading higher this morning, as traders hold onto the $7/lb level, the technicals are less optimistic. Closing below strong support for a second consecutive day, sends a negative trend signal to traders. RSI and Stochastic numbers are oversold, which can send a buy signal. Once again, the market appears to be taking its main cue from the equity market, which in Europe is higher this morning, as traders go bargain shopping before Wall Street opens. Futures here show the Dow may have a good recovery day, which should give metals so positive momentum going into weeks close. For the week, nickel took a serious beating, and we are within $.50/lb of seeing all of the 2014 Indonesia ore ban price increase - evaporate. Have a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $7.37/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Pares Sixth Weekly Loss on U.S. Factory Output - more
  • Reuters metals morning - Copper hits 6-month low on supply worries, other metals bounce - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.97
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MF) Chinese stainless steel mills cut NPI purchasing price

    LME takes battle to Washington after London warehouses win - Fresh from a court win in Britain, the London Metal Exchange now faces one of its biggest hurdles yet in its years-long crisis over its warehousing policy that consumers say has inflated prices: convincing U.S. lawmakers its reforms are enough. - more

   SLN's Alla dies in car crash - The head of the board of New Caledonia's SLN nickel company, Pierre Alla, has died in a car accident in France. - more

    Philippines clears way for Marcventures' expanded nickel mining - Marcventures Holdings Inc , one of the Philippines' biggest nickel miners, has won government approval to expand its mining operations, helping it to ramp up ore exports to top buyer China, the company said on Friday. - more

    Govt, Vale sign contract - The outgoing government sealed an amendment to a mining contract of work (CoW) with nickel miner PT Vale Indonesia on Friday. - more

    Burundi launches activities in new nickel mine - Burundi has started operations at its new nickel mine, which holds an estimated reserve of about 150mn tonnes of the metal, in Musongati region - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 16

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $7.13/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.15/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses finally took a break from growing and for only the second time this month, fell off record highs and now total just over the 374,500 tonne level. Nickel traders have fallen in with the herd and are rushing for the exits. Yesterday's shocking drop in US equity markets, have spooked markets around the world, and you have to look pretty hard to find anything trading in the black today. Slowing world economies, the Ebola threat, ISIS out of control, Russia flexing its muscle in Ukraine, US Fed bond buying program ending this month - one can point a finger at a number of things to explain why the market is down, but all together, happening at the same time, it's brewed a cocktail of negativity in the market. Nickel is trading at prices we have not seen since early March - below $7/lb. We are seeing nickel trading below strong support of $7.19/lb for a second date, and according to those who trade by technicals alone, a second close below this level, sends a strong signal of a potential continuing downtrend. Volatility is back and this time, its favoring nickel consumers.   
  • Average price of cash nickel so far this month - $7.41/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 - Lead in London Slumps to 17-Month Low Amid Global Growth Concern - more
  • Reuters metals morning - Copper slumps to six-month low on economic growth worries - more

  Reports

  • AIIS Steel Exports Show Monthly Increase, Yearly Decline - pdf here
  • Scotiabank Commodity Price Index - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.00
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (China) Industrial deflation deepens in September - more
  • (SSY) The US domestic price for hot rolled band (HRB) fell by $15/t in the two weeks to 15 October, to $721/t, its lowest level for 6 months, according to the latest Steelbenchmarker from World Steel Dynamics.

    Major Chinese Stainless Steel Mills Cut NPI Procurement Price - Major Chinese stainless steel mills reduced the procurement price for high-grade NPI according to their latest bidding price, Shanghai Metals Market learns. - more

    Structural improvement of fundamentals sees bullish 2015 for base metals: BoA/ML - The structural improvement of base metal market fundamentals should support broadly bullish expectations for 2015, Bank of America Merrill Lynch said in a research note Wednesday. - more

    Nickel prices likely to trade lower on easing supply concerns: Angel - The nickel market looks well supplied despite ban by the biggest producer, a monthly report by Angel commodities said. “We expect Nickel prices to trade lower as supply concerns have started to ease with rising output from China and delayed ban from Philippines,” the report said. - more

    Growth Resumes in September - Year-over-year growth in steel and aluminum shipments resumed in September in both the United States and Canada. - more

    New nickel laterite processing method expected to "revolutionise" industry - The company behind a new method of extracting ore from nickel laterite deposits expects the process to revolutionise the nickel industry. - more

    BHP confirms London listing for spin-off after investor outcry - Mining giant BHP Billiton, hoping to appease disgruntled investors, confirmed on Thursday that it would list a planned spin-off company in London next year, as well as in Australia and South Africa. - more

    Rio Tinto says iron ore output jumps as prices in China recover - The world’s No 2 iron ore miner Rio Tinto said a strong third quarter and productivity gains led to a 12 per cent rise in iron ore production as price volatility persists in the global market. - more

    Allergy to metal implants linked to aggressive cancer - Some patients who have metal devices implanted near the skin may develop chronic skin rashes caused by contact allergies to metals such as nickel, cobalt and chromium. These rashes may lead to an unusual and aggressive form of skin cancer, the researchers said. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 15

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $7.42/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mostly lower and quietly. Stockpiles of nickel stored in LME warehouses continue to set records, and after yesterday's gain, now stand at 374,934 tonnes. Stockpiles have now doubled since June 25th of last year, or have more than doubled in the last 16 months. It appears nickel is trading within a near $900/tonne range, between $7.20/lb to $7.60/lb. We expect this range to narrow, unless traders are successful in breaking out one way or the other. Deflation appears to be the dirty word that few want to talk about out loud these days, but there is a real risk in Europe, an increased threat in the US, and after lower than expected inflation numbers  from China today, even Asia is now catching traders attention. In the US, while food prices are higher (bought beef lately?), gas prices are way down. It is interesting to note, that when the economy is faltering, we are constantly reminded how many tens of millions of dollars are being drained from the pockets of American's for every dime the price of gas increases. With gas down, it makes us wonder where those millions of dollars are being spent? Based on retail numbers, now at the local store.
  • Average price of cash nickel so far this month - $7.42/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 China Inflation, First Loss in Three Days - more
  • Reuters metals morning - Copper dips on strong dollar, supply in focus - more

  Reports

  • Sucden Metals Market Report - October 2014 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.05
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (Twitter) Bank of America Merrill lowers nickel price forecast for 2014 by 7% to $17305 per tonne
  • (MP) Chinese refined nickel prices drop further, market sentiment gloomy
  • (MF) Baosteel Stainless reduces stainless steel export prices
  • (SO) Iron ore inventory moves down slightly at Chinese ports
  • NFIB Small Business Economic Trends, October 2014 - more

    LME wins battle but its warehouse campaign will be long: Andy Home - The London Metal Exchange (LME) has won an important battle in the campaign to overhaul its dysfunctional physical delivery system. - more

     Domestic Chinese high-carbon ferrochrome prices fall; stainless steel demand weak - Domestic spot prices of 50% Cr Chinese high-carbon ferrochrome were at Yuan 6,200-6,400/mt (equivalent to 76-79 cents/lb) on Wednesday, down from Yuan 6,250-6,400/mt a week ago, after major stainless steelmakers in the country lowered their October purchase prices. - more

    Hagabat in Philippines hikes Chinese nickel demand - The miners in the Philippines stated that they had already made facilities to accommodate all the orders in the year 2014, as they forecasted the arrival of Habagat, or the seasonal rain. - more

    U.S. Export of Nickel Scrap in August 2014 = Up by 9% from prior month, and export of scrap with high Ni content is up due to lowered Ni price = According to the statistics released by the U. S. Department of Commerce, the export result of nickel scrap in August 2014 was 2,541 tons, up by 8.8% from 2,335 tons of the prior month. The average export unit price per ton was US$4,604.53, up by 14.5% from the prior month. - more

    The Fraser Range and Australia’s Nickel Hope - Brazilian mining giant Vale is moving in to the enviable Fraser Range in western Australia as it looks to into nickel production in the country. - more

    Three big 'whoppers' told about the Ring of Fire - Once called Canada's 'next oil sands', the Ring of Fire mining development area in northern Ontario has yet to live up to its promise. - more

    A Tart New Passivation Method for the Space Industry - Corrosion resistance and high strength put stainless steel high on the list of essential materials for satellite and rocket designers. - more

    The China Slowdown Effect Plus Fundamental Drivers Behind Commodities - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 14

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Monday's trading session at $7.49/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME licenses warehouses rose by a staggering 4,746 tonnes on Monday and now total a record 373,110 tonnes. China media is reporting nickel ore inventories held at major ports in China rose by 160,000 tonnes to 15.27 million tonnes last week. Outflow was limited last week due to the Chinese National Day holiday, and inflows are being tempered by the Monsoon season, negatively affecting imports from the Philippines. It is very possible we are seeing nickel ore imports into China finally peaking. And while the apologists would like us to believe that the stockpile numbers we are seeing rising to mind boggling numbers in LME license warehouses is no more than the effect of an investigation into trading improprieties in China, we think the numbers reflect a supply surplus. On this date last year, LME reported 228,186 tonnes, and in 2012, 124,608 tonnes. Last year the 104,00 tonne gain was attributed to a market in surplus, but this years 145,000 tonne gain is merely a paperwork shuffle? Poppycock. It is very likely, especially if the world economies start showing some momentum, that nickel will enter a deficit situation, courtesy of the Indonesia ore ban. But that time has yet to arrive. And while nickel producers may pray that China starts running out of ore soon, or hope this is all a paperwork shuffle, in the mean time, they are all producing nickel has fast as they can, to take advantage of higher traded nickel prices. And that, in our opinion, is why nickel stockpile numbers continue to rise at such a dramatic pace, ten months after the sky was supposed to have fallen.
  • Average price of cash nickel so far this month - $7.43/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Leads Metals Higher Before European Industrial Output - more
  • Reuters metals morning - Copper at two-week high on upbeat China demand outlook - more

  Reports

  • Damstahl Stainless Steel Report - October 2014 - pdf here
  • October commodity prices from Supply Management - pdf here
  • Deka Group Commodity prices continue their fall - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.09
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MF) China’s stainless steel market remains slow
  • (MP) China nickel ore imports up 3.68% in August 2014
  • IMF official: Growth slowdown welcome - more

    Monsoon to curb Philippines nickel mining, hurt China supply - Seasonal rains are set to disrupt nickel mining in the Philippines for the next four months or so, crimping exports to top buyer China and stoking a shortfall in the global supply of ore. - more

    LME Mo Price Drops Sharply by US$2,100 in Beginning of Week = Price dips below US$10 per lb = LME molybdenum price (cash seller and settlement) dropped sharply to US$21,400 per ton (= US$9.71 per lb) on October 6. The price on Monday in the new week represents a decrease of up to US$2,100 versus US$23,500 (= US$10.66 per lb) on October 3. - more

    Nickel Asia says ore shipment value up 165% in Jan.-Sept - Nickel Asia Corp. shipped P20.6 billion worth of nickel ore in the first nine months of the year, up 165 percent from P7.8 billion year-on-year, the company reported to the Philippine to the Philippine Stock Exchange on Monday. - more

    Burundi Government opens new nickel mine - The Burundi Musongati Mining operation (BMM) will be jointly mined by Burundi Mining Metallurgy International and the Burundi Government. - more

    Courtesy AISI - In the week ending October 11, 2014, domestic raw steel production was 1,804,000 net tons while the capability utilization rate was 75.0 percent. Production was 1,832,000 net tons in the week ending October 11, 2013, while the capability utilization then was 76.5 percent. The current week production represents a 1.5 percent decrease from the same period in the previous year. Production for the week ending October 11, 2014 is down 1.2 percent from the previous week ending October 4, 2014 when production was 1,825,000 net tons and the rate of capability utilization was 75.9 percent.

    Bees help restore Sudbury mining site - Retired foreman Wayne Tonelli worked in Sudbury’s nickel mines since he was a teenager, but his new gig is pretty sweet. - more

  Morning Nickel Price Statistics & Figures

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

Monday, October 13

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Friday's trading session at $7.45/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.04/lb higher, with other London traded base metals trading mostly higher. Stockpile of nickel stored in LME approved warehouses rose to another record high on Friday, and now total 368,364 tonnes. That is 10 tonnes shy of a 10,000 tonne growth since the first of the month. Nickel is trading choppy this morning, having spent most of the morning higher, but at the moment, in recovery from a sudden drop into negative territory. Media is crediting a stronger than expected export report from China to account for the gain in base metals this morning. We tend to think it has more to do with a stronger Euro, than anything else. It's hard to believe, with all the negative economic news coming from Europe, and no one partying about what is going on in China, that we will see much life to any potential rally that may, or may not hit nickel. Two out of three metal analysts polled in China forecast the price of nickel would fall this week, and we find it hard to disagree with them.
  • Average price of cash nickel so far this month - $7.43/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 to Nickel Advance as China Trade Figures Top Estimates - more
  • Reuters metals morning - Copper climbs on strong China trade data, weaker dollar - more

  Reports

  • The August 2014 Casteel Reporter - pdf here
  • IMOA publishes 2013/14 Annual Review - more
  • The Dig – Haywood Mining Team’s week in review - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.16
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) Daily crude steel output at China Iron and Steel Association member mills was 1.786 Mt in the last 10 days of September, according to data from the industry body reported by SteelFirst. This was a slight drop from the preceding 10 days when daily output was 1.787 Mt.
  • (FFM) Taiwanese fastener exports reached a record 140,000 tons in July, a 3% increase on the previous record month of December 2013. Taiwanese fastener exports totaled 920,000 tons in the first seven months of 2014, up 9.6% in the same period of 2013.

    China nickel depletion fuels LME stockpile growth, Norilsk says - Record nickel stockpiles monitored by the London Metal Exchange mask a balanced market as supplies were shifted out of China after a financing scandal, according to OAO GMK Norilsk Nickel, the world’s largest producer - more

    What is the London Metal Exchange? - The London Metal Exchange (LME), founded in 1877, is the world’s largest trading center of industrial metals. It provides futures contracts and options on a number of base and other metals. - more

    Outlook: Lower Raw Material Cost, New Products Expected to Trigger Growth for Industrial Manufacturers - Industrial manufacturers know what must happen for their companies – and the U.S. economy – to improve over the next 12 months. - more

  Morning Nickel Price Statistics & Figures

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

Friday, October 10

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $7.53/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel saw their growth slow the first part of this week, but that was apparently due to the week long holiday in China, because they are back to growing by 1000+ tonnes today. And after a nearly 2000 tonne increase on Thursday, today's new all time record high is 367,134 tonnes.  We are watching the inventory numbers closely for a slowdown, and then evidence of a peak and the start of a consistent slide. This will all have to happen before the forecasted shortage can prove itself. As of today, that has yet to happen. As of right now, the traded price of nickel is only slightly lower than it closed last Friday, so unless something interesting happens in the market today, all of the market volatility this week may have helped traders make or loose money, but did little for nickel and stainless steel producers. News is very light today, with traders trying to figure out if the world economy is souring faster than feared. Have a safe and relaxing weekend.  
  • Average price of cash nickel so far this month -$7.44/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Set for Longest Losing Run Since 2008 as Economies Slow - more
  • LME Morning - Copper pressured by growth concerns, dollar strength - 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 -
  • 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
  • (SG) It is reported that Morgan Stanley is expected to raise its 2014 forecast of nickel prices by 2% to USD 18,044 per tonne.

    Production of Stainless Steel Products in July 2014 Is 258,672 Tons = Up by 1% from prior month, and increased production of Ni-type pushes up = The Ministry of Economy, Trade and Industry announced the production volume of stainless steel products (hot-rolled products) in July 2014 was 258,672 tons, which represented an increase of 1.4% versus the prior month and an increase of 8.0% versus the year-earlier month. - 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 9

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $7.45/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.13/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel store din LME approved warehouses rose to another record high on Wednesday and now stand at 365,158 tonnes.The minutes of the US Fed yesterday put a halt to the slide in equity and commodity trading and their decision to keep the cheap money flooding into the market, helped boost moods. That decision was based on the Fed's worries about a strong Dollar, and an apparently weakening worldwide economy. Once again, it is not the actual condition of business in the world leading the stock markets, but the attempts to boost it up, a process that has been in place since 2009. In the mean time, nickel tries to figure out if or when the shortages will begin.
  • Average price of cash nickel so far this month - $7.42/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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, base metals surge on dovish Fed minutes, dollar losses - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.50
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • German recession fears mount as exports plunge - more

    Platts China Steel Sentiment Index Falls to Lowest Level since January - China's steel sector appears to be relying heavily on the export market in the face of ongoing weak domestic demand, according to the latest Platts China Steel Sentiment Index (Platts CSSI), which showed a headline reading of 38.09 out of a possible 100 points in October. - more

    Stainless Crude Steel Production by Major SUS Mills in August 280,821 Tons = Down by 5.5% from prior month, and production volumes by mills other than JFE, Chiba are down = The stainless crude steel production by 6 major stainless steel mills in August 2014 was 280,821 tons, down by 5.5% from 297,115 tons of the prior month. - more

    Aluminum Costs Seen Rising More Even After LME Wins Case - A courtroom victory allowing the London Metal Exchange to ease backlogs of deliveries of aluminum may do little to reduce the cost of the metal used in everything from beer cans to auto parts. - more

  • LME prevails in legal battle with Rusal on metal warehouse reform - more

    Norilsk Sinks in Nickel Bear Market Wiping Out 46% Gain - OAO GMK Norilsk Nickel, the best performer earlier this year among Russian shares traded in the U.S., sank to a six-month low on concern demand will weaken amid expectations for a slowdown in global economic growth. - more

    We’re not about killing workers – BCL boss - BCL Mine general manager, Daniel Mahupela says the copper and nickel operation is not in the business of killing or injuring its workers, but accidents do take place due to risky behaviour. - more

    Talvivaara's search for capital - The mining company Talvivaara has belatedly released their financial report for the first six months of the year. They simultaneously announced a restructuring plan in an attempt to survive as a going concern. Now investors and creditors – and maybe taxpayers – need to make a decision to either cut their losses or raise the stakes. - more

    PolyMet CEO optimistic on EIS - A top PolyMet official reacted optimistically Wednesday to an early spring 2015 completion date of an environmental impact statement for the company’s copper/nickel/precious metals project near Hoyt Lakes announced this week by the Minnesota DNR commissioner. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 8

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $7.70/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.09/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses rose to a new record high on Tuesday, although movements have been slower than normal the last few days. Your new record high stands at 364,530 tonnes. The International Monetary Fund lowered its forecast for global economic growth yesterday afternoon, and this pessimism could account for some of the negativity the nickel market is witnessing this morning. China markets returned today after a week long holiday on news that the IMF has announced they have passed the USA to become the world's largest economy. Traders will be watching nickel demand closely in China now, to see if their economy picks up steam.
  • Average price of cash nickel so far this month - $7.39/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Declines on Demand Concern as IMF Cuts Outlook - more
  • Reuters metals morning - Copper steady as dollar eases; growth worries cap gains - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.65
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    US Stainless Steel Market Roundup From MEPS - Hot rolled plate sales in the United States are stable at a moderate level according to MEPS. - more

    LME Granted Right to Appeal Warehouse Ruling - The London Metal Exchange, the world’s biggest metals bourse, won an appeal over a court ruling that thwarted its plan to ease delivery backlogs at warehouses. - more

    Glencore may take another run at merging with Rio Tinto - Rio Tinto rejected a merger deal with Glencore earlier this year, but the Swiss-based miner said it reserves the right to give the deal another crack in six months. - more

    More priests join National Park demand in Dominican Republic - Military troops and police agents have been deployed around the National Palace since Tuesday afternoon to await the imminent arrival of dozens of protesters accompanied by at least 12 Catholic priests who demand that Loma Miranda be declared a national park. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, October 7

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Monday's trading session at $7.61/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.02/lb higher, with toher London traded base metals trading mixed and quieter. Stockpiles of nickel stored in LME contracted warehouses fell slightly on Monday and now total just over the 364,200 tonne level. For the first five days of October, total stockpile numbers have risen by 8,208 tonnes. Nickel traders appear to be using the strength of the Euro to guide it over the last few days. A stronger Dollar adds negative pressure on commodity traders, and the US Dollar is experiencing a rally against the Euro that has it trading at nearly two year highs. Recent micro technical signals are sending bearish signals for today, while RSI and Stochastic readings tell us nickel still has plenty of room to roam. China returns to work on Thursday after a week long holiday, so we expect the market to potentially get a little froggy in anticpation.  
  • Average price of cash nickel so far this month - $7.33/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Holds Advance After Biggest Two-Day Gain in a Month - more
  • Reuters metals morning - Copper slips as strong dollar, demand uncertainty weigh - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.65
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (MNP 10/2/14) "Alto Capital senior analyst Carey Smith told the conference it may have been a case of the nickel price rising “too high, too fast”, but he forecast the price to rise back to $19,000/t before the end of the year and average $20,000/t next year. “$19,000 would be a very good price in this environment,” Smith said."
  • Rio Tinto rejects Glencore merger approach amid iron ore slump - more
  • Glencore Rio Tinto: ‘You be chairman… I’ll be chief executive’ - Chris Blackhurst - more
  • Neutral, but El Niño WATCH remains - more

    October Price of Ni SUS Scrap Drops to JPY180,000/Ton = Drop in Ni price and slump in export market, and there may be price cut within month = As to October purchase price of nickel-containing stainless steel scrap (SABOT) by Japanese Stainless Steel mills, many of them lowered it by JPY5,000 per ton and JPY180,000 pert ton (delivered at factory) is now prevailing in the market. - more

    Norilsk Nickel's October Investor presentatino provides some interesting market statisitcs - pdf here

    China invests $1.25-b in New Caledonia nickel mine - Chinese group JinPei has signed a pact with a firm in nickel-rich New Caledonia to mine and process the ore after the world’s top producer Indonesia imposed a ban on exports of the metal. - more

    Suspended mine leaves deep scars in Philippine village - "You know you've reached Santa Cruz when you hit the potholes," says Josephine Astadan. - more

    Chinese blame everyone – except themselves – for Ramu mine problems - Metallurgical Corporation of China (MCC) vice president Mr Wang Yongguang has warned that the company will not hesitate to close down the mine if the safety and lives of its workers are threatened. - more

    Courtesy AISI - In the week ending October 4, 2014, domestic raw steel production was 1,825,000 net tons while the capability utilization rate was 75.9 percent. Production was 1,850,000 net tons in the week ending October 4, 2013, while the capability utilization then was 77.3 percent. The current week production represents a 1.4 percent decrease from the same period in the previous year. Production for the week ending October 4, 2014 is down 1.1 percent from the previous week ending September 27, 2014 when production was 1,846,000 net tons and the rate of capability utilization was 76.7 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 news and information free of charge. Contact us

Monday, October 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Friday's trading session at $7.56/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading higher. Stockpiles of nickel continue to set records, and after a gain of another 1,230 tonnes, now stands at 364,332 tonnes. Nickel opened lower this morning and after a recovery, has since fallen back again. After Friday's bounce, nickel traders are retreating again, in the face of climbing stockpiles. The World Steel Association forecast steel use will expand 2% in 2014, down from 3.8% in 2013. and another 2% in 2015.
  • Average price of cash nickel so far this month - $7.28/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Extends Gains as U.S. Jobless Rate Hits 6-Year Low - more
  • Reuters metals morning - Zinc, copper tick higher as dollar rally pauses - more

  Reports

  • worldsteel Short Range Outlook 2014-2015 - more
  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.65
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • World Bank lowers China 2014 growth forecast to 7.4% - more

    LME nickel snaps six session losing streak on US jobs data - LME nickel futures rebounded on Friday as the three month contract snapped a six session losing streak, adding 2.5% throughout the day. - more

    Four months on, fallout from Chinese scandal drives up nickel stocks - A commodity fraud at China's Qingdao port has hit bank financing of metal deals, sparking a surprise jump in nickel exports and pushing back expectations of a global supply shortage of the metal used mainly in stainless steel. - more

    Price Trend of CR Austenitic Stainless Sheets = The downward trend becomes strong in East Asia = A gloomy atmosphere is hanging over the market prices of cold-rolled (CR) austenitic stainless steel sheets in the East Asian region. It is because a price drop of nickel has an impact on export prices of products and the downward trend of them becomes strong. - more

    Debate over $1b Vanuatu nickel plant - The prospect of low taxes and cheap labour have made Vanuatu an attractive option for a Chinese-backed joint venture hoping to build a huge nickel smelter. - more

  Morning Nickel Price Statistics & Figures

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

Friday, October 3

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Thursday's trading session at $7.30/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.13/lb higher, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approve warehouses rose by nearly 4000 tonnes on Thursday and now total 363,102 tonnes, another all time record high. Nickel is getting a bounce this morning after hitting lows of $7.33/lb twice earlier in the session. The market has been in technically oversold ground this week, and this move is not unexpected. The bounce looks a little extreme however, and without some news affecting the supply/demand parameters, it looks more like a move of desperation. For the week, the trading price of nickel is still over 4-1/2% lower, and for the last month, down over 15-1/2%. Volatility is back, so weekends seem to become more valuable. Have a safe and relaxing one.
  • Average price of cash nickel so far this month - $7.23/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Advances Before U.S. Payroll Data as Copper Gains - more
  • Reuters metals morning - Copper, aluminium bounce, but vulnerable to more losses - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.65
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Port Hedland Iron Ore Shipments to China Decline From Record - more
  • Russian Plutocrat Set to Make $1.6 Billion in Brooklyn Via Tax Money, Threat of Property Seizure - more

    Four months on, fallout from Chinese scandal drives up nickel stocks - A commodity fraud at China's Qingdao port has hit bank financing of metal deals, sparking a surprise jump in nickel exports and pushing back expectations of a global supply shortage of the metal used mainly in stainless steel. - more

    Contract Price of LC FeCr in Oct-Dec US Cents 207 = Up by slightly less than US Cents 4 from prior period, and shortage of domestic supply power continues = The price of low-carbon ferro-chrome for the period from October to December in 2014 Japanese stainless steel mills negotiated with overseas ferroalloy producers has been settled at US Cents 207 per lb, up by slightly less than US Cents 4 from US Cents 203 - 204 of the period (July - September), whose background is the demand for special steels in Japan is still firm and the supply from domestic ferroalloy producers is lacking. - more

    Chinese eye our mineral assets - A Chinese delegation which visited the country last week is interested in investment opportunities in nickel, cobalt and iron sands projects in PNG. - more

    Australian Nickel Conference Media Coverage - more

  Morning Nickel Price Statistics & Figures

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

Thursday, October 2

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Wednesday's trading session at $7.34/lb . Indicators at 6:50 am CST today show 3 month nickel trading unchanged at the moment, but trading so far this morning has been choppy and mostly with higher attempts. Other base metals are trading lower, but quietly. Stockpiles of nickel stored in LME licensed warehouses rose to another record high on Wednesday, but the daily gain recorded was less than 1000 tonnes for the first time in eight sessions. Shortage? Not yet! Total stockpiles numbers are reported at 359,166 tonnes. The Australian Nickel Conference is in full swing and markets have gone quiet. China being on holiday till mid next week has also put a damper on market enthusiasm. Lot of mixed economic signals being sent these days. This isn't exactly new but the US seems to be in about as good a shape as anyone. China growth is slowing and their steel industry appears to be in trouble. Europe is having a hard time kick starting their economic recovery and building up enough RPM to stop stalling out. Right now they appear to be stalling again. And the BRIC's are struggling. That said, worldwide stainless production in the first half of 2014 was higher, but the potential for future growth is being handcuffed by the struggling economies. And thus demand for nickel is being stymied as well.  
  • Average price of cash nickel so far this month - $7.19/lb
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 with Dollar Near Highest Level Since 2010 - more
  • Reuters metals morning - Copper steadies as dollar rally stalls - more

  Reports

  • Scrap Metals MarketWatch Oct 2014 - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.65
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SSY) China's Purchasing Managers Index for the steel sector fell to a seven-month low of 43.6 in September, according to a report from Steel First. This is also the fifth month in succession below the benchmark of 50, indicating a contraction in activity.
  • Poseidon Nickel presentation Australian Nickel Conference - pdf here (other presenters - here)

    Flat Fourth Quarter Predicted for Stainless Steel Market - MEPS - According to MEPS, stainless steel sales have been surprisingly subdued since the summer holiday season. Most market participants predicted an upturn in demand during, what is traditionally, one of the busiest periods of the year. - more

    Nickel prices seen at $20 000/t next year - Nickel prices on the London Metals Exchange (LME) were expected to average at $20 000/t in 2015, owing to an expected shortfall in new production, coupled with a ban on ore exports from Indonesia, financial adviser Alto Capital reported at the Paydirt Nickel conference. - more

    Mincor CEO sees strong nickel market in 2015 on uptick in global economy - Australian nickel producer Mincor Resources expects the nickel market to perform strongly in 2015 and move back above the $20,000/mt level as demand is boosted by a booming US economy and a stock drawdown in China, company CEO David Moore told a conference in Queensland Wednesday, October 1. - more

    Indonesia’s minerals export ban - In one of its most far-reaching economic policy decisions, Indonesia halted all mineral ore exports on January 2014 to promote domestic processing. The long-planned ban hopes to eventually boost Indonesia’s profits from its mineral wealth by forcing miners to process their ores before export. - more

    BHP to buy nickel ore from Poseidon to feed Australia refinery - BHP Billiton on Thursday agreed to a two-year contract to buy nickel ore from Poseidon Nickel Ltd to feed its Nickel West operations in Australia. - more

    A Cargo Ship Just Completed - A Game changing First Trip Through The Northwest Passage - The hazardous Northwest Passage is open for business. The MV Nunavik left Canada’s Deception Bay on September 19 and rounded Alaska’s Point Barrow on Tuesday – without an icebreaker escort. - more

    Anger over Vanuatu nickel plant plan - A former MP on Santo in Vanuatu says a proposed nickel smelter will harm a pristine area, and that locals have not been consulted on the project. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, October 1

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones is reporting three month nickel closed Tuesday's trading session at $7.39/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.05/lb lower, but recovering from 6 month lows hit earlier in the session. Other London traded base metals are trading mixed and very quietly. Stockpiles of nickel stored in LME approved warehouses ended the month of September by setting another new record high, this time at 358,374 tonnes. On 17 of 22 sessions in September, a new record high was recorded, and stockpiles have risen by 131,370 tonnes since October 1st, 2013. China markets are closed for Golden Week until October 8th, so its possible we could see some of the recent volatility in the market subside. Then again the bears are apparently in control of the market, so moves by bulls to combat the slide, could keep pricing 'interesting'. China's Purchasing Managers' Index was unchanged at 51.1 in September, with the Chinese economy facing downward pressure, according to the report.
  • Average price of cash nickel so far this month - N/A
  • Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/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 Hits Six Month Low as Supply Levels Pressure Price - more
  • Reuters metals morning - Copper steadies near 3-1/2 month low, dollar weighs - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.65
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (SO) Russian exports of stainless steel products in the January-August period of this year decreased by 66.5 percent year on year.

    North American Stainless Press Release - For the month of October 2014, North American Stainless will reduce the fuel surcharge to 32% for stainless flat and long products. The surcharge rate is considered a maximum level for October and will be reviewed monthly.

    Mincor CEO sees strong nickel market in 2015 on uptick in global economy - Australian nickel producer Mincor Resources expects the nickel market to perform strongly in 2015 and move back above the $20,000/mt level as demand is boosted by a booming US economy and a stock drawdown in China, company CEO David Moore told a conference in Queensland Wednesday, October 1. - more

    Interview from Norilsk Nickel CEO Vladimir Potanin - This week Norilsk Nickel’s CEO Vladimir Potanin opened up publicly to discuss the companies strategy of limiting their foreign assets to those most profitable and about his goals for the near and distant future. - more

    Proposed Oregon Nickel Mine Fails To Secure First Permit - It’s difficult to use water when there’s no water flowing. Or so discovered a UK-based mining company this week when Oregon regulators denied one of the many permits required before development of a nickel mine can get underway in Southern Oregon. - more

  Morning Nickel Price Statistics & Figures

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

 September Archives


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