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page is archived news covering the period of October 2016
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Monday, October 31
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.73/lb. Indicators at
5:30 am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose sharply on Friday and now
total above the 363,500 tonne level. This will be the first month in many
where nickel reserves stored in warehouses licensed by the London Metal Exchange,
will end the month with more nickel than they had at the beginning of the
month. This is LME Week, and price changes can be muted, as traders from
around the world converge on London.
Average price of cash nickel so far this month - $4.65/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Asian Energy Stocks Fall as OPEC Split Hits Oil; Dollar Gains -
more
Global
nickel market sees 66,000 tonne deficit in 2017 - The global nickel market
is seen in a 66,000 tonne deficit next year, in line with this year, on growing
demand from the stainless steel sector, the International Nickel Study Group
(INSG) said. -
more
Gloomy
future for Phikwe cooperative as BCL folds - Mine employees, who will be
jobless by the end of the month, contributed P2.9 million monthly towards
SACCOS. -
more
Vale's
Production Volumes of Mn Ore, Ferroalloy, Ni and Co in Jul-Sept = Production
of ferroalloy and cobalt is up, but production of nickel is down due to
maintenance = On October 20, Vale S. A., a major resource company in Brazil
announced its production volumes of manganese ore, ferroalloys, nickel and
cobalt in the period from July to September in 2016. -
more
Financial
Recovery is Possible After Nickel Price Rebound - Nickel Asia Corporation
is one of the world’s top suppliers of lateritic nickel ore. -
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 27
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.65/lb
. Indicators
at 5:40 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
362,250 tonnes. Indonesia has proposed allowing miners who are building
refineries in Indonesia, be allowed to export ore in the mean time. This
would be a partial reversal of the complete ban imposed in early 2014 and
could help alleviate concerns being caused by the Philippine crack down on
ore miners there. This is our final update for the week so we wish our readers
a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.65/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Bonds Fall, Dollar Strengthens as Monetary Policy Outlook Shifts -
more
Govt
to allow nickel ore, bauxite exports under new rules - The government has
finalized the draft revision of a government regulation on coal and mineral
resources mining activities, which focuses on a licensing regime change and
flexibility for mineral exports. -
more
Suspended
Philippine nickel miner mounts first legal challenge to govt - A suspended
Philippine nickel miner said on Wednesday it has sued government environment
agencies for a nearly four-month stoppage of its operations, in the first
legal challenge to the state's environmental crackdown on the mining sector.
-
more
Steel
manufacturers gain popularity once again - Steel manufacturing has reemerged
as a hot sector. The global steel industry at least for now, is attracting
investors back as China's Baoshan Iron & Steel Co. has started the earnings
season for the recent quarter with a jump in profit. -
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 26
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.64/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose slightly on Tuesday and
now total just under the 362,500 tonne level. Sideway trading continues,
although we have read two technical traders recently, one of which is forecasting
a break to the positive side and one saying the charts don't yet show that.
Things are looking better in China but stockpiles have yet to show the declines
necessary to prove we have hit a level where demand outweighs supply
significantly. In fact, LME warehouses are 480 tonnes above where they
started the month today. Without some major news, we expect prices to continue
sideways.
Average price of cash nickel so far this month - $4.65/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
SMM - China’s Baiyin Nonferrous Group will build an integrated #200
stainless steel plant in the Philippines in a long-term strategic partnership
with Global Ferronickel Holdings Inc. (FNI), news from Manila reported.
Stocks Fall as Apple Adds to Earnings Queasiness; Oil Retreats -
more
An
'unhealthy' stainless recycling market - Global: In general, conditions within
the stainless recycling industry are not healthy, with almost all the leading
processors confronted by significant pressure on margins, according to Joost
Van Kleef, chairman of the BIR’s stainless steel & special alloys
committee. -
more
POSCO
Q3 profit jumps to over 4-year-high as China prices gain - POSCO posted its
strongest quarterly operating profit in more than four years, beating analysts'
estimates, as a sustained recovery in Chinese steel prices helped boost margins
for South Korea's top steelmaker. -
more
BHP Billiton
likely to renew nickel off-take contract with Western Areas - Western Areas
Ltd. has released two tenders to market for nickel off-take that is currently
contracted to BHP Billiton Group and China's Jinchuan Group Co. Ltd. and
due to expire at the end of this year. -
more
BHPB's
Production of Nickel and Molybdenum in Jul-Sept 2016 = When compared with
prior period, both productions of nickel and molybdenum are down = On October
19, BHP Billiton Limited (BHPB) announced its production results and sales
volumes in the period from July to September in 2016. -
more
Sherritt
widens loss as output slows; lowers Ambatovy FY guidance - Canadian diversified
miner Sherritt International Resources has, for the second time this year,
cut the nickel guidance at the 40%-owned Ambatovy mine, in Madagascar, citing
a tailings pipe blockage and total shutdown that occurred in June and July,
followed by weak output in August. -
more
Recent Vale
job losses ‘part of regular business’ - Vale says any recent job
losses at its Manitoba Operations are the result of normal business operations
rather than the result of strategic cuts in response to market forces or
the closure of the smelter and refinery by the end of 2018. -
more
We can fight
for mining together - It is pretty obvious what people want from government.
Security for our seniors, a good education for our kids, safe roads to travel
on, healthcare, respect for our veterans, and jobs. -
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 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.54/lb
. Indicators
at 5:45 am CST today show 3 month nickel trading around $.10/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Monday and now total
just over the 362,400 tonne level. Flash manufacturing readings have been
positive and traders, encouraged that demand should be picking up, are responding
positively this week. Still trading in an established channel, so no reason
yet to say the market has turned one way or the other.
Average price of cash nickel so far this month - $4.65/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Metals Jump on Economic Optimism as Rand Strengthens With Miners -
more
World Stocks, commodities climb as economic confidence lifts -
more
Negative IOD continues as tropical Pacific remains ENSO neutral -
more
Philippines
stock investors weigh up Duterte's policies with a solid economy - Recent
headlines emanating from the Philippines have caused ructions in the nickel
market and pressured the sharemarket, although some international investors
believe the country's robust economic fundamentals mean equities are still
worth a look. -
more
Botswana: BCL Poisoned Workers - Experts - BCL Liquidator Nigel
Dixon-Warren will be confronted with shocking findings when he finally conducts
health inspections on the 5000 dismissed workers, after Government and other
shareholders disregarded warning of disastrous pollution from public health
experts, caused by the sulphur dioxide and effluent pumped into the open
environment. -
more
FDA-approved alternative to stainless steel in geared motors - An
anti-corrosion system for geared motors that goes far beyond the effectiveness
of surface coatings to deliver a true alternative to stainless steel at a
much lower cost has been released in Australia. -
more
Courtesy
AISI - In the week ending October 22, 2016, domestic raw steel production
was 1,597,000 net tons while the capability utilization rate was 67.3 percent.
Production was 1,629,000 net tons in the week ending October 22, 2015 while
the capability utilization then was 68.1 percent. The current week production
represents a 2.0 percent decrease from the same period in the previous year.
Production for the week ending October 22, 2016 is up 0.4 percent from the
previous week ending October 15, 2016 when production was 1,590,000 net tons
and the rate of capability utilization was 67.0 percent. -
source
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 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at $4.52/lb
, the first close
below $10,000/tonne since mid September. Indicators at 6:00 am CST today
show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Friday and start the
week just under the 363,300 tonne level. Stockpile umbers are currently running
ahead of where they started the month, which apparently has traders somewhat
concerned. Cancelled warrants jumped to nearly 35% today, so this gain may
evaporate shortly. Nickel continues to trade within a trend started back
in July, after an earlier year jump.
Average price of cash nickel so far this month - $4.66/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Stocks Rise With Bonds as Europe Lifts Market With Triple Boost -
more
World
nickel prices jumped in Q3 - Global prices of nickel jumped 16 percent amid
strong demand for stainless steel as well as the anticipated tightening of
output from the Philippines following an audit of mine operations, according
to the World Bank. -
more
Fury
as 5,000 jobs vanish at BCL, Tati - The Botswana Mine Workers Union is today
consulting legal counsel with a view to challenging Wednesday’s decision
by BCL Ltd liquidator, Nigel Dixon-Warren to terminate 5,000 jobs at BCL
and Tati Nickel mines. -
more
New
venture plans steel mill - Nickel miner Global Ferronickel Holdings Inc.’s
agreement with state-owned Baiyin Nonferrous Group Co., Ltd. will provide
it with trade financing and if feasible help it to put up a steel mill. -
more
China visit helps Duterte reap funding deals worth USD24 billion -
more
September
2016 crude steel production - World crude steel production for the 66 countries
reporting to the World Steel Association (worldsteel) was 132.9 million tonnes
(Mt) in September 2016, 2.0% up on September 2015. -
more
PHL
nickel supply to depend on government mining policies - The
Philippines’s nickel supply in the next few years will depend on mining
policies implemented in the country, the World Bank said. -
more
BHP’s
Nickel West eyes Yakabindie pit - A BHP Nickel West plan to develop the
Yakabindie open pit near Leinster as a satellite pit of the Mt Keith project,
20km to the north, could be key to expanding the once-endangered division’s
asset life to 2038. -
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 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.68/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME approved warehouses have been up and down over the
last week and started today's trading day just over the 362,800 tonne level.
For the most part, the past trading week has been quiet, with BHP's positive
tone about the future welcome news for traders. Demand in China appears to
be on the rise again, and with the so called pig nickel becoming harder to
come by, due to export bans and hostility toward mines, there is a reason
to be bullish. With over 350,000 tonnes in stock however, this optimism can
quickly wane. This is our first and last update for the week and we apologize
for that, and our next update will be Monday. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.67/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Euro, Stocks Hang on Draghi Briefing as Crude Gives Back Gains -
more
BHP
Sees Imminent Turning Point in Nickel With Deficit Looming - BHP Billiton
Ltd., the world’s largest mining company, sees the nickel market swinging
into deficit because of supply threats in the Philippines and growing demand
from electric vehicles and stainless steel. -
more
BHP spends
$2 million a month on nickel unit as recovery looms - BHP Billiton's nickel
business, which faced closure after failing to attract a buyer, is spending
$2 million a month on improvements and making headway to extend operations
through the next decade, a senior executive said on Thursday. -
more
PT Antam
to Construct Coal-fired Power Plant to Expand FeNi Production - On October
10, PT Antam Tbk, Indonesia announced that it completed construction of a
coal-fired thermal power plant with two 30-MW power units as part of the
expansion project (P3FP) for its Pomalaa ferro-nickel plant. -
more
Charges
in miner’s death - Tears will be shed today by hard-rock miners at Nickel
Rim South Mine, by the union that represents them, and by friends and family
as they mark the one-year anniversary of the workplace death of a man who
was beloved. -
more
‘We are slowly being killed by this mine’ - Amid the arid
farmlands of Colombia’s Córdoba province, the grassed earth gives
way to bare incisions. Upturned mounds of ochre puncture the landscape. -
more
Crackdown on illegal mines cheered - The Chamber of Mines of the
Philippines (COMP) Wednesday welcomed an anticipated crackdown by the Ombudsman
on illegal mines following a move against illegal dumpsites. -
more
7
Years Fighting Against Canadian Mining Impunity in Guatemala - Murder, rape
and displacement is what a Canadian mining project has brought to a Mayan
Q’eqchi’ community in Guatemala. -
more
Courtesy AISI
- In the week ending October 15, 2016, domestic raw steel production was
1,590,000 net tons while the capability utilization rate was 67.0 percent.
Production was 1,629,000 net tons in the week ending October 15, 2015 while
the capability utilization then was 68.1 percent. The current week production
represents a 2.4 percent decrease from the same period in the previous year.
Production for the week ending October 15, 2016 is up 0.3 percent from the
previous week ending October 8, 2016 when production was 1,585,000 net tons
and the rate of capability utilization was 66.8 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 17th - Friday, October
21st
We
will be traveling the week of October 17th and will have limited access to
the internet. Thus, we will be unable to update this daily news site until
Monday, October 24th. We apologize for any inconvenience and hope to see
you again on the 24th.
Thursday, October 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.79/lb. Indicators at
5:50 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just under the 360,100 tonne level. Nickel bulls got some positive news late
yesterday, when Reuters published an interview with Indonesia's mining minister,
who advised the country's ban on nickel ore would remain in place. This makes
the actions taken by the Philippines government recently with mine closures,
more relevant to the long term impact on the supply and demand balance of
the industry. Today, however, a stronger Dollar and disappointing Chinese
export numbers has commodities following other markets lower.
Average price of cash nickel so far this month - $4.65/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China Steel Exports at Seven-Month Low as Frictions Escalate -
more
Indonesia
unlikely to relax ban on nickel ore and bauxite exports – Minister -
Indonesia will "almost definitely" keep in place a ban on nickel ore and
bauxite exports, the country's mining minister said on Wednesday, just days
after it had considered lifting the restriction to raise extra cash in an
overhaul of mining rules. -
more
Stainless
steel scrap market briefing - Demand and scrap prices have mirrored the nickel
market. Following a near-full recovery to $9,600/tonne in May, nickel prices
increased to over $11,000/tonne, but this has not been sustained. -
more
Sherritt’s
Moa survives hurricane Matthew - Toronto’s Sherritt International Corp.
has provided an update on its Moa joint venture nickel project following
hurricane Matthew earlier this month. -
more
BCL, Tati workers
to know fate in four months - The fate of 5,000 workers at the closed BCL
and Tati Nickel mines lies in the hands of a KPMG liquidator, whose report
next February is expected to specify whether all jobs should be shed, or
just some. -
more
Taiwan's
Import of Major Ferroalloys in July 73,931 Tons = Down by 4% from prior month,
and imports of Malaysian FeSi and HC-FeMn are up = According to the import
statistics of Taiwan, the import volume of major ferroalloys in July 2016
was 73,931 tons, down by 4.4% from 77,337 tons in the prior month -
more
KPK
to Consolidate Steps for Investigation of Nur Alam Case - Head of the Law
Bureau of the Corruption Eradication Commission (KPK) Setiadi said the Law
Bureau will consolidate steps for investigation of Nur Alam corruption case
after the South Jakarta district court rejected pretrial plea of the Southeast
Sulawesi governor. -
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 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$4.73/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just under the 360,550 tonne level. News has slowed with China re-opening
from a week long holiday. So far this month, nickel is averaging slightly
higher than September, but lower than August.
Average price of cash nickel so far this month - $4.63/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Pound Rises as May Eases Brexit Angst; European Stocks Fluctuate -
more
Stainless steel surge impacts nickel and ferro-chrome: Andy Home -
Global steel demand will rise by a meagre 0.2 percent this year, according
to the World Steel Association (WSA). -
more
Chinese lenders
target Singapore metals merchants as trade push grows - Chinese banks are
stepping up lending to midsize metals traders in Singapore, pushing into
a gap in the market as U.S. regulations and fading appetite for risk drive
Western rivals to focus on larger commodity merchants, metals industry sources
said. -
more
Nickel price
rally 'on shaky ground' - On Tuesday, nickel exchanged hands for $10,490
a tonne in London holding onto most of its 3% overnight gains. -
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 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.78/lb
. Indicators
at 5:30 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just under the 360,800 tonne level. The Botswana government seems to have
decided to get out of the state sponsored nickel mining business, although
it does not appear to have pulled a Philippine's about face and turned hostile
turned mining as an industry.
Average price of cash nickel so far this month - $4.61/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Botswana
Shuts State-Owned Copper, Nickel Producer BCL on Losses - Botswana shut down
money-losing copper and nickel producer BCL Ltd. and began steps to liquidate
the state-owned company, Mineral Resources Minister Sadique Kebonang said
Saturday. -
more
Botswana Pulls Out of $279 Million Norilsk Nickel-Mine Deal -
more
Chinese Smelter Assails Indonesia Over U-Turn on Ore Exports - A plan
by Indonesia to allow shipments of raw mineral ores would inflate local smelting
costs and threaten the existence of small producers, according to the head
of a Chinese-Indonesian venture, who called the move unwise and said it
contradicted promises by the nation’s president. -
more
Vale
cuts Swiss jobs - Vale is eliminating positions from its Swiss operations
as the Brazilian mining company consolidates its base metals marketing group
in Canada. -
more
Japan's Purchase
Price of HC FeCr for Oct-Dec Up by US Cents 12 = US Cents 118 per lb due
to increase in ore price, etc.= Japanese stainless steel mills have
continued negotiation with multiple foreign ferro-chrome producers to fix
the purchase price of high-carbon ferro-chrome for the period from October
to December in 2016, and have recently come to an agreement on the price
to be up by US Cents 12 from the prior period. -
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 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.64/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.08/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose on Monday after no change
on Thursday. Stockpiles now total just over the 360,800 tonne level. China
has reopened for business after a week long holiday and a surprise announcement
of another mine closure in the Philippines has nickel trading higher.
Average price of cash nickel so far this month - $4.60/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Goldman Sachs Sees Shock Potential for U.S., European Stocks -
more
Stainless
Steel Production Reached 22.1 million metric tons in the First Half of 2016
- The International Stainless Steel Forum (ISSF) has released figures for
the first half year of 2016 showing that stainless steel melt shop production
increased by 4.1% year–on–year to 22.1 million metric tons. Production
increased in Asia without China and in China. -
more
Philippines to cancel environmental permit of nickel miner as crackdown
continues - The Philippines will cancel the environmental permit of a nickel
miner that began operations this year, a minister said, as the government
intensifies a campaign to punish mineral producers harming natural resources.
-
more
Workers in suspended Caraga mines won’t lose jobs, DENR assures -
more
Indonesia
eyes 15 mln T nickel ore exports in 2017 - Indonesia could export up to 15
million tonnes of nickel ore in 2017 if it amends a ban on unprocessed ore
exports, a mining ministry official said on Friday. -
more
New
Caledonia's Koniambo says job cuts needed - The company, KNS, announced last
week that 140 positions would be dis-established - 50 of them affecting New
Caledonians. -
more
Clive
Palmer to sue Michaelia Cash over Queensland Nickel comments - Clive Palmer
is set to become involved in another legal dispute, this time threatening
to sue Employment Minister Michaelia Cash. -
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 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.57/lb. Indicators
at 5:30 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME a licensed warehouses fell on Wednesday and now total
just under the 360,300 tonne level. Nickel prices continue to trade quietly
with China markets closed for the week. This is our final update for the
week so we wish each of our readers a safe and relaxing weekend and
invite you back next week.
Average price of cash nickel so far this month - $4.58/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Bad bolts in valves may be causing water line breaks -
more
Fed Rate Bets Boost Dollar, Damp Treasuries as Stocks Fluctuate -
more
Philippines
Aims for Final Mine-Halt Decisions by Month-End - The Philippine government
has set out a timetable for the final stages of its review of metallic miners
in the world’s largest nickel producer, and aims to decide which suppliers
will be suspended for failing an environmental audit before the end of this
month. -
more
Duterte
and Jokowi Are Nickel's New Best Friends - A vigilantist politician who would
be happy for all his country's mines to shut down and a populist president
enforcing a ban on ore exports might not seem the most obvious allies for
global nickel miners. -
more
Resumption
of ore exports could put smelting industry at risk: CEO - Major nickel producer
PT Vale Indonesia has urged the government to reconsider its plan to allow
ore exports because it could put the country’s smelting and mineral
processing industry at risk. -
more
Local
authority appeals for extended life-span of ailing Botswana nickel miner
- The Selebi-Phikwe town council has pleaded with the cabinet sub-committee
set up to probe the feasibility of continued mining operations at the ailing
Bamwangwato Concession Limited (BCL) mine to ask the government to consider
financing the mine instead of taking up the closing down of it, as doing
so would destroy the regional economy. -
more
Russia’s
Norilsk Nickel to spend 18 bln rbl on modernization - Russian metals giant
Norilsk Nickel plans to spend over 18 billion rubles to introduce a new
technology of nickel refining at its unit Kola Mining and Metallurgical Company
(Kola MMC) in the Murmansk Region, Norilsk Nickel said in a statement Wednesday.
-
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 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.57/lb. Indicators
at 5:45 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell Tuesday and now total just
over the 360,550 tonne level. With China still closed for their week long
holiday, markets are subdued and in a slow retreat.
Average price of cash nickel so far this month - $4.61/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
European Stocks Fall With Emerging Markets on Central Bank Angst -
more
Nickel market
developments, September 2016 - Presentation on developments in the nickel
market. -
more
Indonesia
expects mining rule overhaul within weeks - Indonesia is finalizing an overhaul
of its mining rules that could give companies up to five more years to build
smelters, and reopen exports of nickel ore banned since 2014, the country's
mining minister said on Tuesday. -
more
China's Import
of High-carbon Ferro-chrome in August 270,000 Tons - According to the foreign
trade statistics of China, the import volume of high-carbon ferro-chrome
(material quantity) in August 2016 was 270,214 tons, down by 21.1% from 342,371
tons in the prior month. -
more
Mining
employees to keep jobs — Lopez - Employees of 20 mining companies that
were recommended for suspension will keep their jobs for the moment, Environment
Secretary Regina Lopez said Tuesday. -
more
Queensland
Nickel liquidators to pursue $180m from Clive Palmer's other companies -
Liquidators for Queensland Nickel have been given a war chest to wrestle
back hundreds of millions of dollars Clive Palmer’s other companies
owe creditors. -
more
Botswana: Nickel Park to Impact On Region - The Minister of Infrastructure
and Housing Development, Mr Nonofo Molefhi, says the Nickel Park in Selebi
Phikwe will have a positive impact on the town's community and SPEDU region.
-
more
The End of
the Commodities Crash? - Last week, I harped on opportunities in commodities
— clearly a “most hated” asset class if there ever was one.
-
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 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.69/lb. Indicators
at 5:45 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just under the 361,450 tonne level. As Indonesia discusses changing their
2014 nickel ore ban, the negative effect from mine closures in the Philippines
wanes. Now there is news that some of those Philippine mines may be able
to make the environmental changes necessary to remain open. For the fist
time in a long time, all four purchasing manager indexes we follow went positive
(above 50 reading) in September
(more).
Average price of cash nickel so far this month - $4.62/lb
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
US steel firms say Chinese evaded tax via VN -
more
Steel ministry wants MIP continuation for 21 products -
more
Dollar Rises on Fed Hawks as Pound Slumps; European Stocks Gain -
more
Indonesia
'still discussing' whether to overturn nickel ore export ban - Indonesia
is still considering whether to resume nickel ore exports, the mining minister
said on Tuesday, amid broader discussions of the country's mining rules.
-
more
Indonesia may allow miners a further 3-5 years to build smelters -minister
-
more
Cuban nickel
industry shuttered as Hurricane Matthew looms - Cuba's two nickel processing
plants were temporarily shut down on Monday, State-run media said, as powerful
Hurricane Matthew threatened the eastern part of the Caribbean island, where
the country's top export-earning industry is located. -
more
Japanese
Mills Raise Offer Prices of CR Austenitic Stainless Sheets by $50-100 - In
the austenitic stainless steel sheet market in the East Asian region, supply
of hot-rolled (HR) steel coils has still been tightened, and inquiries of
HR coils to Japan are not decreasing. -
more
Miners
May Avoid Shutdowns in Philippine Audit as Nickel Drops - A mining audit
in the world’s top nickel supplier that’s threatened mass closures
may see producers prevail, with companies signaling their confidence shutdowns
can be avoided as they race to remedy problems flagged in the nationwide
Philippine checkup. Futures dropped. -
more
Small
Tasmanian nickel mine symbol of hope in uncertain market: Russell - It's
not often that jobs get exported from the developing world back to a developed
country, but this is likely to be the case with nickel, the Philippines and
Australia. -
more
Job
cuts threatened at New Caledonia nickel plant - Job cuts are looming in New
Caledonia’s mining and processing sector following a severe drop in
the global price of nickel. -
more
Courtesy AISI
- In the week ending October 1, 2016, domestic raw steel production was 1,611,000
net tons while the capability utilization rate was 68.9 percent. Production
was 1,687,000 net tons in the week ending October 1, 2015 while the capability
utilization then was 70.5 percent. The current week production represents
a 4.5 percent decrease from the same period in the previous year. Production
for the week ending October 1, 2016 is up 0.4 percent from the previous week
ending September 24, 2016 when production was 1,605,000 net tons and the
rate of capability utilization was 68.6 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.80/lb
. Indicators
at 5:45 am CST today show 3 month nickel trading $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Friday and start the
week just under teh 361,800 tonne level. We expect the nickel market to remain
quiet this week, with Chinese markets closed for their Golden Week holiday.
Chinese manufacturing PMI remained unchanged for September, but still on
the growth side.
Average price of cash nickel so far this month - n/a
Average price of LME traded nickel in 2015 - $5.37/lb / 2014 - $7.65/lb /
2013 - $6.80/lb / avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel Belt MP Marc Serré voted against the bill, and Sudbury MP Paul
Lefebvre a no show -
more
Pound Slides on Brexit Angst as Stocks Show Contagion Contained -
more
World nickel
market faces supply shock as UBS flags risk in 2017 - About a 10th
of the world's nickel supply is at risk after the Philippines widened its
crackdown on miners, raising the chances of prices rallying by another 25
per cent through 2017, according to UBS Group, which had already billed the
metal as one of its favoured commodities. -
more
Nickel Supply
Curbs Set To Lift Stainless Steel Prices - According to MEPS, austenitic
stainless steel coil selling values rose in September, in the United States
and Europe. -
more
S.
African Charge Chrome Price for Europe in Oct-Dec Up by US Cents 12 - On
September 26, Merafe Resources Limited, South Africa, a joint venture partner
for Glencore -Merafe Chrome Venture announced on its home page that the benchmark
price of South African charge chrome meant for Europe for shipments from
October to December in 2016 was settled at US Cents 110.0 per lb. -
more
India alleges
Chinese non-cooperation in stainless steel countervailing duty investigation
- In what may delay the ongoing countervailing duty investigation on imports
of stainless steel products from China, India has alleged that it is not
getting adequate support from the Chinese authorities to ascertain subsidies
provided to its manufacturers. -
more
Comet
Minerals discovers unusual native nickel deposit in Nigeria - The Titan native
nickel deposit has a genesis like no other nickel deposit in the world –
different to that of conventional laterite or sulphide nickel. -
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 Monday thru Thursday before 8 am CST -
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
5:30 am CST today show 3 month nickel trading around $.04/lb
Reports
Commodity/Economic Comments
Global
nickel market sees 66,000 tonne deficit in 2017 - The global nickel market
is seen in a 66,000 tonne deficit next year, in line with this year, on growing
demand from the stainless steel sector, the International Nickel Study Group
(INSG) said. -
Gloomy
future for Phikwe cooperative as BCL folds - Mine employees, who will be
jobless by the end of the month, contributed P2.9 million monthly towards
SACCOS. -
Vale's
Production Volumes of Mn Ore, Ferroalloy, Ni and Co in Jul-Sept = Production
of ferroalloy and cobalt is up, but production of nickel is down due to
maintenance = On October 20, Vale S. A., a major resource company in Brazil
announced its production volumes of manganese ore, ferroalloys, nickel and
cobalt in the period from July to September in 2016. -
Financial
Recovery is Possible After Nickel Price Rebound - Nickel Asia Corporation
is one of the world’s top suppliers of lateritic nickel ore. -
Morning Nickel
Price Statistics & Figures
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
362,250 tonnes. Indonesia has proposed allowing miners who are building
refineries in Indonesia, be allowed to export ore in the mean time. This
would be a partial reversal of the complete ban imposed in early 2014 and
could help alleviate concerns being caused by the Philippine crack down on
ore miners there. This is our final update for the week so we wish our readers
a safe and relaxing weekend.
Govt
to allow nickel ore, bauxite exports under new rules - The government has
finalized the draft revision of a government regulation on coal and mineral
resources mining activities, which focuses on a licensing regime change and
flexibility for mineral exports. -
Steel
manufacturers gain popularity once again - Steel manufacturing has reemerged
as a hot sector. The global steel industry at least for now, is attracting
investors back as China's Baoshan Iron & Steel Co. has started the earnings
season for the recent quarter with a jump in profit. -
An
'unhealthy' stainless recycling market - Global: In general, conditions within
the stainless recycling industry are not healthy, with almost all the leading
processors confronted by significant pressure on margins, according to Joost
Van Kleef, chairman of the BIR’s stainless steel & special alloys
committee. -
POSCO
Q3 profit jumps to over 4-year-high as China prices gain - POSCO posted its
strongest quarterly operating profit in more than four years, beating analysts'
estimates, as a sustained recovery in Chinese steel prices helped boost margins
for South Korea's top steelmaker. -
BHP Billiton
likely to renew nickel off-take contract with Western Areas - Western Areas
Ltd. has released two tenders to market for nickel off-take that is currently
contracted to BHP Billiton Group and China's Jinchuan Group Co. Ltd. and
due to expire at the end of this year. -
Anglo
America Q3 2016 Production Report -
Sherritt
widens loss as output slows; lowers Ambatovy FY guidance - Canadian diversified
miner Sherritt International Resources has, for the second time this year,
cut the nickel guidance at the 40%-owned Ambatovy mine, in Madagascar, citing
a tailings pipe blockage and total shutdown that occurred in June and July,
followed by weak output in August. -
Recent Vale
job losses ‘part of regular business’ - Vale says any recent job
losses at its Manitoba Operations are the result of normal business operations
rather than the result of strategic cuts in response to market forces or
the closure of the smelter and refinery by the end of 2018. -
We can fight
for mining together - It is pretty obvious what people want from government.
Security for our seniors, a good education for our kids, safe roads to travel
on, healthcare, respect for our veterans, and jobs. -
September
2016 crude steel production - World crude steel production for the 66 countries
reporting to the World Steel Association (worldsteel) was 132.9 million tonnes
(Mt) in September 2016, 2.0% up on September 2015. -
‘We are slowly being killed by this mine’ - Amid the arid
farmlands of Colombia’s Córdoba province, the grassed earth gives
way to bare incisions. Upturned mounds of ochre puncture the landscape. -
7
Years Fighting Against Canadian Mining Impunity in Guatemala - Murder, rape
and displacement is what a Canadian mining project has brought to a Mayan
Q’eqchi’ community in Guatemala. -
We
will be traveling the week of October 17th and will have limited access to
the internet. Thus, we will be unable to update this daily news site until
Monday, October 24th. We apologize for any inconvenience and hope to see
you again on the 24th. 
Sherritt’s
Moa survives hurricane Matthew - Toronto’s Sherritt International Corp.
has provided an update on its Moa joint venture nickel project following
hurricane Matthew earlier this month. -
Taiwan's
Import of Major Ferroalloys in July 73,931 Tons = Down by 4% from prior month,
and imports of Malaysian FeSi and HC-FeMn are up = According to the import
statistics of Taiwan, the import volume of major ferroalloys in July 2016
was 73,931 tons, down by 4.4% from 77,337 tons in the prior month -
Stainless steel surge impacts nickel and ferro-chrome: Andy Home -
Global steel demand will rise by a meagre 0.2 percent this year, according
to the World Steel Association (WSA). -
Vale
cuts Swiss jobs - Vale is eliminating positions from its Swiss operations
as the Brazilian mining company consolidates its base metals marketing group
in Canada. -
Japan's Purchase
Price of HC FeCr for Oct-Dec Up by US Cents 12 = US Cents 118 per lb due
to increase in ore price, etc.= Japanese stainless steel mills have
continued negotiation with multiple foreign ferro-chrome producers to fix
the purchase price of high-carbon ferro-chrome for the period from October
to December in 2016, and have recently come to an agreement on the price
to be up by US Cents 12 from the prior period. -
New
Caledonia's Koniambo says job cuts needed - The company, KNS, announced last
week that 140 positions would be dis-established - 50 of them affecting New
Caledonians. -
. Indicators
at 5:30 am CST today show 3 month nickel trading around $.02/lb
Russia’s
Norilsk Nickel to spend 18 bln rbl on modernization - Russian metals giant
Norilsk Nickel plans to spend over 18 billion rubles to introduce a new
technology of nickel refining at its unit Kola Mining and Metallurgical Company
(Kola MMC) in the Murmansk Region, Norilsk Nickel said in a statement Wednesday.
-
Nickel market
developments, September 2016 - Presentation on developments in the nickel
market. -
Nickel Supply
Curbs Set To Lift Stainless Steel Prices - According to MEPS, austenitic
stainless steel coil selling values rose in September, in the United States
and Europe. -
India alleges
Chinese non-cooperation in stainless steel countervailing duty investigation
- In what may delay the ongoing countervailing duty investigation on imports
of stainless steel products from China, India has alleged that it is not
getting adequate support from the Chinese authorities to ascertain subsidies
provided to its manufacturers. -
