This
page is archived news covering the period of October 2014
If you are looking for current daily market news, please visit
here.
Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
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
(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)
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
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)
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
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
(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)
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
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)
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
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)
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
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)
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
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)
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
(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)
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
(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)
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
(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)
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
(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)
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
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)
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
(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)
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
(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)
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
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)
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
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)
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
(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
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)
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
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)
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
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)
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
(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)
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
(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)
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
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators at
6:40 am CST today show 3 month nickel trading around $.12/lb
Reports
Commodity/Economic Comments
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. -
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. -
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. -
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.
-
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. -
Morning Nickel
Price Statistics & Figures
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. -
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. -
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.
We will
be on the road the next few days so our next update will be on Thursday.
-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. -
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. -
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. -
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. -
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. -
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.
-
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. -
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. -
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. -
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. -
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. -
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. -
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 -
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 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. -
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.02/lb
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. -
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. -
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. -
