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page is archived news covering the period of October 2018
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Wednesday, October 31
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.34/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and now totals
just under the 218,900 tonne level. We are currently trading at $5.30/lb,
which is a new low for 2018. News that China's manufacturing sector may have
grown at its lowest level since July 2016 is not helping bulls find any footing.
And for a second time in as many days, a metals analyst is warning
about the potential bearish affect Tsingshan could have on the nickel market
long term. And daily withdrawals from LME warehouses have fallen for a second
month and running just a little over 1/2 of what they did in the first half
of the year. And then there is always the unknown effects from the trade
war. With that, we say goodbye to October.
Average price of cash nickel so far this month - $5.60/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Shanghai aluminium hits 2-year low after downbeat
China data -
more
Stocks Rally Into Turbulent Month's End; Bonds Dip: Markets Wrap -
more
Tuesday's market review - Aluminium hits 14-month low on renewed U.S.-China
trade tension - Aluminium slumped to its lowest in more than a year, with
other base metals also falling on Tuesday, on fresh concerns that a U.S.-China
trade war was dampening global growth. -
more
China's
Tsingshan rains on nickel bulls' party: Andy Home - Has nickel lost its electric
buzz? Bull spirits had been galvanised by the potential boost to demand from
the electric vehicle revolution. -
more
Nickel bull worries intensify for key electric vehicle component - The rout
in metal markets has spread to nickel at the same time as optimism over a
supply crunch for the key electric vehicle component fades. -
more
Press
release - For the month of November 2018, North American Stainless will increase
the fuel surcharge to 28% for stainless flat and long products. The surcharge
rate is considered a maximum level for November, and will be reviewed monthly.
Nickel Monthly News For The Month Of October 2018 - Welcome to the nickel
miners news for October. The trade war-depressed markets took its toll on
nickel this month with the metal price falling significantly despite LME
inventory levels also falling significantly. -
more
Protection Measures Support Steel Prices but Disrupt Trade Flows - Supply
options for large exporters of steel, such as those in China and Russia,
are becoming limited, owing to existing trade barriers, implemented by many
authorities around the world. As a consequence, steelmakers are scouring
the globe, for new destinations, in which to sell their excess capacity.
-
more
Economic Uncertainty Weighs Down the Emerging Steel Markets -
more
Russia's
Nornickel says Q3 nickel output up 9 pct q/q - Russia’s Norilsk Nickel
(Nornickel) said on Wednesday its consolidated nickel production was at 53,739
tonnes in the third quarter of 2018, up 9 percent quarter-on-quarter. -
more
Clive Palmer reveals Bulgarian dinner date with nephew Clive Mensink, who
is the subject of two arrest warrants - Clive Palmer has told the Federal
Court he dined with Clive Mensink in Bulgaria a few weeks ago, but didn't
ask for his nephew's home address because he wanted to know more about his
girlfriend instead. -
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 30
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.33/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and started today
just under the 219,000 tonne level. Macro economic factors keep pressuring
nickel lower, and the news a few weeks ago that some of the nickel that has
been shipped, is not actually being used, but stored, is causing a degree
of skepticism to rise in official stockpile reports. National media outlets
are reporting the US could announce early December tariffs on all remaining
Chinese imports if talks next month between the countries presidents fail
to put a halt to the trade war. US stock markets volatility is raising eyebrows,
as is the economic news from Europe. The Chinese Yuan is at its lowest in
a decade. The US has an election next week, so after being bombarded for
months with negative commercials, American's must dig very deep to find anything
positive in the markets - or about life in general. Then again, after next
week, the nasty political commercials will go away, to be replaced by ambulance
chasing lawyers. Very little market news today, but interesting story about
Tsingshan below.
Average price of cash nickel so far this month - $5.62/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Zinc, copper fall as fresh U.S. tariffs on China
loom -
more
Metminco bails on nickel acquisition; share price punished -
more
Horizonte Minerals estimates $443m cost for Brazil nickel development -
more
U.S. Futures Trim Gains as Europe Stocks Decline: Markets Wrap -
more
Monday's
market review - Copper steadies as LME supplies shrink - Copper prices steadied
on Monday with support from shortages created by tumbling inventories on
the London Metal Exchange countering concern over growth and demand because
of the U.S.-China trade dispute. -
more
Chinese metals giant Tsingshan can upset bullish nickel prices - Commodity
traders expect nickel, the silvery-white metal used to make stainless steel,
to be a winner from the electric-vehicle revolution - it is a key component
of batteries. -
more
Mines and batteries: a perfect match? - Finnish state-owned mining company
Terrafame has received a building permit from local authorities to build
a battery chemicals plant on the site of its Sotkamo nickel/zinc mine. -
more
Courtesy
AISI - In the week ending on October 27, 2018, domestic raw steel production
was 1,898,000 net tons while the capability utilization rate was 81.0 percent.
Production was 1,705,000 net tons in the week ending October 27, 2017 while
the capability utilization then was 73.2 percent. The current week production
represents an 11.3 percent increase from the same period in the previous
year. Production for the week ending October 27, 2018 is up 1.2 percent from
the previous week ending October 20, 2018 when production was 1,875,000 net
tons and the rate of capability utilization was 80.0 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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 29
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.40/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Thursday and Friday and
started the week just over the 219,100 tonne level. Last week was pretty
dismal for producers of nickel, as prices have fallen at a fairly steady
pace over the past five days. Nickel is now trading at a 2018 low, and we
are seeing prices last seen in December 2017. Nickel has fallen since May
6th, with only sporadic bounces. We show the next line of support around
$5.25/lb. At the moment, if you make a living digging nickel ore, the market
looks rather dismal for the short term. If you produce stainless steel, lower
nickel means lower production costs. This was the weekend for market predictions
apparently. We have three articles posted below with forecasts for prices
in 2019 and beyond. We wish you a good and prosperous week!
Average price of cash nickel so far this month - 5.64/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper trims gains as China data clouds outlook
-
more
WA nickel miner to slash diesel bill with 7MW solar -
more
Trafigura-backed Finnish miner Terrafame to build EV battery plant -
more
URU Metals applies for rights extension at Zebediela nickel project in South
Africa -
more
Stocks Find Some Swagger After Nervy Asia Session: Markets Wrap -
more
Friday's
market review - Copper slides as equity markets rout rattles investors -
Copper fell 1 percent on Friday as global equities headed for their worst
week in more than five years, overshadowing a supply shortage of the metal
building in the market. -
more
Copper
price to spring back in 2019, zinc seen flat: Reuters poll - Copper prices
are due to rebound next year as healthy supply/demand fundamentals overcome
macro-economic worries, but zinc will be held back by rising output, a Reuters
poll showed. -
more
Better nickel, base metal prices in 2020, Vale says - Lower prices
for metals, including nickel, and the planned maintenance shutdown at its
Sudbury operations, ate into Vale’s third-quarter revenues of its base
metals division. -
more
ERG
forecasts strong metals price recovery - Diversified miner Eurasian Resources
Group (ERG) forecasts a strong metals price recovery ahead, including for
copper, cobalt, aluminium, ferrochrome and iron-ore. -
more
Blockade at New Caledonia nickel mine over - New Caledonia's SLN nickel company
says the blockade of its mine site at Kouaoua, which began in early August,
has ended. -
more
Gwede Mantashe weighs into BCL, Norilsk battle - South African mineral resources
minister, Gwede Mantashe has reportedly requested BCL Mine and Norilsk Nickel
to shelve their court battle over a US$271 million deal, and wait for his
decision. -
more
Merafe's Production Volume of FeCr in Jul-Sept 2018 Is 84,000 Tons - At the
end of last week, Merafe Resources Limited, South Africa announced the volume
of ferro-chrome produced by Glencore-Merafe Chrome Venture in the period
from July to September in 2018. -
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 25
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.55/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Wednesday and now total
just under the 219,700 tonne level. Nickel started in neutral yesterday,
but once US markets opened and decided to take a dive, LME commodities
followed suit. And much like the US Dow, the day saw any price gain accomplished
in 2018, evaporate, and the market enter negative territory. First time this
year for the Dow, second time for nickel. It looks like the market is in
neutral again this morning, waiting for US markets to open and see what mood
US traders are in today. Whatever the reason for the sudden anxiety, nickel
is now trading below its prior 2018 low of September 11th, and short and
mid term technical indicators are sending negative signals. And they will....
until nickel starts trading higher. That's it for us this week. We hope you
each have an enjoyable and safe weekend, and invite you to join us again
next week.
Average price of cash nickel so far this month - $5.66/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper prices slip to 2-wk low after Wall
Street rout -
more
EU steel demand growth to level out in 2019: Eurofer -
more
Australian nickel sector stepping up to meet global change -
more
Why the Dow tumbled 600 points and the Nasdaq fell into correction territory
for the first time in 2 years -
more
Europe Stocks Climb With U.S. Futures Ahead of ECB: Markets Wrap -
more
Wednesday's market review - Base metals follow stock markets lower
as dollar surges - Industrial metals prices fell on Wednesday, pushed lower
by a stronger dollar and losses on global stock markets that reflected a
lack of appetite for risky assets, though zinc touched a three-week high
in earlier trading. -
more
Chinese
ferrochrome prices fall, molybdenum rises, nickel briquette stabilizes -
Chinese ferrochrome prices fell this week on a lack of buying interest, but
molybdenum, used along with ferrochrome for stainless steel production, rose,
while nickel briquette premiums were steady, market sources said Wednesday.
-
more
Nickel
producer Eramet's earnings to be hit by New Caledonia protests - Protests
that have blocked some of Eramet’s mines in New Caledonia have curbed
its nickel output and will weigh on annual profit, the French mining group
said on Thursday. -
more
Vale Indonesia records lower production, higher revenue in Q3 - Publicly
listed nickel miner PT Vale Indonesia on Wednesday announced its unaudited
third-quarter performance, which recorded nickel matte production of 18,193
metric tons (MT) and sales of US$205 million -
more
Vale
still keen on nickel, at least in the long term - Vale said Wednesday it
remains optimistic about the long-term prospects for nickel. The short-term,
however, is another matter. -
more
Ramu
landowners pleased with CPI inclusion in land compo payment - The
landowners associations in the Ramu Nickel/Cobalt project in Madang have
expressed satisfaction in the developer’s decision to add the Consumer
Price Index in the calculation of its revised lands and compensation payment
rates to landowners. -
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 24
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.61/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just over the 219,000 tonne level. Not much to report today. Alto Capital
senior analyst Cary Smith told Paydirt Conference attendees that 90% of nickel
production is being done profitably at the current prices. Stockhead also
reports his price forecast “For the next two years my forecast is an
average between $US6.50/lb and $US 7/lb ($9.18 to $9.8/lb) - but that is
pretty conservative, and could easily reach $US7.50 or $US8/lb ($10.50 to
$11.30/lb).”. Nickel traders look to be using $12,400 tonne for minor
support ($5.62/lb).
Average price of cash nickel so far this month - $5.66/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper steady amid worries over weaker China demand
-
more
U.S. Stock Futures Decline as Europe Bucks Selloff: Markets Wrap -
more
Tuesday's market review - Copper prices tripped up by political tensions
and slow growth - Copper tracked equity markets lower on Tuesday on concerns
of slowing demand in China and as geopolitical tensions escalated over the
killing of a prominent Saudi journalist. -
more
90 per cent of global nickel miners are making money at current prices,
says expert - For the first time in six years, most global nickel producers
are now making money, a senior analyst has told delegates at the Paydirt
nickel conference in Perth. -
more
BHP
powering ahead with plans to lift Nickel West production - Mining major
BHP’s Nickel West division is powering ahead with plans to increase
production at its Leinster operation, in Western Australia. -
more
Cerro Matoso owes Colombia more than $56M in royalties - The Cerro Matoso
nickel mine, owned by Australian miner South32, owes more than $56 million
in unpaid royalties to Colombia, the country's comptroller said on Tuesday.
-
more
Remote
WA nickel mine to add 7MW solar plant, slash diesel use - ASX-listed miner
Independence Group is going (partially) solar at its Nova nickel operation
in Western Australia, through a PV installation and power purchase agreement
with remote power generation specialist Zenith Energy. -
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 23
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.68/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.07/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses ticked slightly higher yesterday
and now totals just under the 219,700 tonne level. After peaking out around
$5.77/lb late yesterday, nickel has been in a fairly solid slide since.
Investors appear to have been rattled on comments by a leading Chinese official,
who stated publically, that while the country did not seek a trade war with
the U.S. , it also did not fear one. Typical sabre rattling, but a poll of
leading economists by Reuters also released yesterday, showed investors that
economists are worried about a possible global economic slowdown starting
as early as next year because of the trade war. Nickel miners have a bright
future, according to speakers at a conference in Perth, but for the day -
and year for that matters, someone forgot to turn on the lights.
Average price of cash nickel so far this month - $5.67/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper falls nearly 1 pct, aluminum rises for 2nd
day -
more
Stocks Deepen Losses as Investors Flock to Havens: Markets Wrap -
more
El Niño ALERT; positive Indian Ocean Dipole may be underway -
more
Yesterday's market review - Copper climbs to one-week high on China
demand hopes - Copper prices hit one-week highs on Monday due to expectations
of stronger demand after authorities in top consumer China said they would
take measures aimed at bolstering growth and liquidity. -
more
The next decade will be ‘very good’ for nickel miners amid pivot
to batteries - Nickel miners are increasingly pivoting towards battery-grade
nickel production for the coming electric vehicle (or “EV”) and
stationary storage boom, delegates at the Nickel Conference 2018 in Perth
heard on Tuesday. -
more
Producers see strongest nickel market in many years -
more
Press
Release - Universal Stainless & Alloy Products, Inc. today announced
a base price increase of 3% to 8% on selected specialty steel long products.
The increase will be effective for all non-contract new orders entered October
29, 2018 forward. Current electrode, material and energy surcharges will
remain in effect. -
more
Vale's
Production Volumes of Mn Ore, FA, Ni and Co in Jul-Sept = Production of Mn
ore, nickel and cobalt is down from year-earlier period = On October 15,
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 2018. -
more
Boom in EV batteries - It took more than seven years for automakers
to sell four million passenger electric vehicles (EVs). It will take about
six months to sell the next million. -
more
Liquidator cuts BCL, Tati Nickel skeletal staff - Senior staff members
of both BCL and Tati Nickel were on Wednesday briefed on the decision to
reduce the care and maintenance operations that would result in some of them
losing their jobs by the end of November. -
more
Cosmos to drive growth - Nickel miner Western Areas has signed off on a new
$300 million nickel mine in the northern Goldfields which will create more
than 200 jobs when it opens in late 2022, capitalising on what managing director
Dan Lougher believes will be rising global demand for the base metal. -
more
Courtesy
AISI - In the week ending on October 20, 2018, domestic raw steel production
was 1,875,000 net tons while the capability utilization rate was 80.0 percent.
Production was 1,705,000 net tons in the week ending October 20, 2017 while
the capability utilization then was 73.2 percent. The current week production
represents a 10.0 percent increase from the same period in the previous year.
Production for the week ending October 20, 2018 is down 0.3 percent from
the previous week ending October 13, 2018 when production was 1,881,000 net
tons and the rate of capability utilization was 80.2 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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 22
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.65/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel rose slightly on Thursday and fell on Friday and started this week
just over the 219,600 tonne level. Nickel got a little bump on Friday on
news China had promised support for firms with liquidity problems. With nickel
up again this morning, we have pretty well erased last weeks losses. We aren't
convinced the promised stimulus in China is enough to change the overall
trend in pricing, although it is a bullish signal. There is an article below
by Reuters you should read titled "Flow of LME nickel to hidden storage dents
bull story". According to the article much of the inventory that is leaving
LME warehouses is going into storage as large investors bet on prices going
higher in the future. If true, this is incredibly bearish, and could explain
why prices are in retreat while inventories do the same. And while there
is always hidden inventory out there, as base metals investment houses play
the game to make money, we are skeptical it is of the volume these analysts
suggest. Time will tell, but if true, the holders are going to be sitting
with millions of dollars worth of nickel for a long while, as prices have
done little but fall since May. Have a prosperous week!
Average price of cash nickel so far this month - $5.67/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper climbs for second day after China liquidity
pledge -
more
Western Areas gives go-ahead for Odysseus nickel mine -
more
How tycoon Roman Abramovich blows his millions: mega yachts, fast cars and
private jets -
more
Chinese Stocks Rally Most Since 2016 as State Steps Up Support -
more
$100bn in nickel investment is needed to keep up with electric car demand
-
more
Supply Chain Risks In Driving Seat As Transport Sector Changes Lane -
more
Stocks Climb After China Rally; Pound Turns Lower: Markets Wrap -
more
Yesterday's market review - Copper, nickel rise as China pledges support
for illiquid firms - Copper rose on Friday and nickel prices rebounded from
a one-month low after regulators in China pledged support for firms with
liquidity issues brought on by months of slowing growth. -
more
Flow of LME nickel to hidden storage dents bull story - The bulk
of nickel moving out of London Metal Exchange-approved warehouses in Asia
is showing up in hidden facilities in Europe, analysts said, denting a bullish
scenario of potential shortages. -
more
BASF,
Nornickel join forces in electric vehicle battery push - Germany's BASF and
Russia's Norilsk Nickel (Nornickel) have signed a nickel and cobalt supply
deal to address growing demand for batteries to power electric vehicles,
they said on Monday. -
more
Voisey’s Bay starts to go underground - Cobalt 27 Capital Corp has received
confirmation from Vale of the start of the Voisey’s Bay transition to
underground mining with the first blast at the Reid Brook portal rock face
of the Voisey’s Bay Mine Expansion, located in Newfoundland & Labrador,
Canada. -
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 18
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.61/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.07/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Wednesday and started
today just over the 219,900 tonne level. We show nickel fell below major
support yesterday and if today's trading continues its current path, we could
see another close below. Since the market is already bearish, we are not
real sure what another bearish technical signal would mean. We were incorrect
yesterday about Vale's future nickel expansion plans. It is not the $13,000/tonne
level they want to see hold, but the $20,000/tonne level, before they will
consider any expansion in their nickel division. That is $9.00/lb. $5.53/lb
is your next line of support.. Anything below that will be a new trading
low for 2018. SMM has some predictions for fourth quarter stainless steel
production below. BHP says the fire that shut down their Kalgoorlie Smelter
for a few weeks will not adversely affect their annual production. Is future
EV nickel demand more hype than reality? One author makes his case below.
The bears are winning the trading tug of war this week, and the bulls better
dig in their heels or they could be in real trouble for the rest of the year.
In the mean time, this is our final update for the week, so we hope each
of you has a safe and entertaining weekend, and hope to see you again next
week.
Average price of cash nickel so far this month - $5.68/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Nickel hits 1-month low on China growth worries,
U.S. rates -
more
Glencore chair Tony Hayward latest to drop out of Saudi conference -
more
Canada to implement provisional safeguards on certain steel imports -
more
Fed Minutes Weigh on Stocks, Bonds; Yuan Slips: Markets Wrap -
more
Yesterday's market review - Copper steady on Chinese data, aluminium
falls on stock inflow - Copper prices held steady on Wednesday as better
than forecast Chinese lending data signalling solid economic growth in the
world’s biggest metals consumer was offset by signs that a supply squeeze
in China was receding. -
more
The Nickel market was in deficit during January to August 2018 with apparent
demand exceeding production by 56.3 kt. In the whole of 2017 the calculated
deficit was 46.3 kt. -
more
Supply
growth, poorer demand to affect stainless steel prices in Q4 - Stainless
steel across Chinese markets is likely to face pressure in the last quarter
of the year as mills step up production, especially output of #300 series,
and as downbeat economic data suggest weakening demand, SMM expects. -
more
Pulling the handbrake on the electric vehicle revolution? - "With big model
releases and announcements more akin to the tech world, it’s very easy
to get caught up in the EV hype. -
more
Vale
putting off new investments in nickel - Nickel prices will have to rise
dramatically before Vale makes new investments in nickel, reports said Tuesday.
-
more
Smelter shutdown will not hurt production: BHP - BHP says a shutdown at the
Kalgoorlie Nickel Smelter caused by a highly publicised fire will not lead
to a drop in annual production for its Nickel West division. -
more
Japan's
Purchase Price of HC FeCr for Oct-Dec Down by US Cents 14 = US Cents 132
per lb, which is affected by cheap price meant for China = Japanese stainless
steel mills have continued negotiation with multiple overseas ferro-chrome
producers to fix the purchase price of high-carbon ferro-chrome for the period
from October to December in 2018 and have this time come to an agreement
on the price to be down by US Cents 14 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
Wednesday, October 17
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.71/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and started today's
session just over the 220,400 tonne level. With major technical support at
$12,400/tonne and major resistance at $20,000/tonne, nickel has spent October
trading mostly sideways. Vale sent a negative signal to traders today, saying
it will not consider investing in more nickel mines until nickel remains
above the $13,000/tonne level. BHP, on the other hand, is joining many of
the smaller mining companies and investing heavily in nickel exploration,
in anticipation of future demand. The cog in the wheel that we are watching
is future production balanced with future demand. While some of the commodity
houses we watch are predicting the supply and demand imbalance will lessen,
or even even itself out come 2021 or 2022, we just don't see that - unless
world economies go into the toilet. Where are any new mega mines currently
under construction? Yes, there are mine expansions under way, but we are
not aware of any new mega mines under construction anywhere in the world.
And with all the talk about future demand increasing, we will need some new
mines to offset those depleting their resources. On May 22nd of this year,
we watched LME stockpiles of nickel fall below the 300,000 tonne level. On
August 8th, they fell below 250,000 tonnes. At the current rate they are
falling we could fall below the 200,000 tonne level sometime around the
Thanksgiving holiday. Something to keep in the back of your mind.
Average price of cash nickel so far this month - $5.68/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Shanghai copper slips for 2nd day on lukewarm trade
-
more
U.S. Futures Slip, Dollar Rises as Good Mood Fades: Markets Wrap -
more
Yesterday's market review - Copper slips as trade tensions, rising
U.S. rates weigh - Copper prices slid on Tuesday amid lean factory-gate inflation
data in China and nagging concerns about global growth, trade tensions and
rising U.S. interest rates. -
more
Evaluation of global nickel resources - The client, one of
China’s largest stainless-steel producers, is evaluating an M&A
opportunity with an NPI producer to expand their upstream capability. -
more
Battery metal demand drives miner focus on Class 1 nickel - Not all
nickel is created equal. In fact, there are two types of nickel, Class 1
and Class 2. The stainless steel that comprises the primary use for nickel
comes primarily from Class 2 nickel, which has an iron component. -
more
Brazil's
Vale to wait for major price rebound before investing in nickel - CEO - Major
Brazilian mining company Vale SA will only make new investments in nickel
if global prices for the metal rise from their current price below $13,000
per tonne to around $20,000 per tonne, the firm’s chief executive said
on Tuesday. -
more
BHP’s 1st qtr iron-ore output jumps 8 pct, cuts copper guidance - The
world’s biggest miner, BHP, said on Wednesday its first-quarter iron
ore production rose 8 percent on strong Chinese demand for high-grade ore,
but cut its fiscal 2019 guidance for copper production, citing outages at
key mines. -
more
World’s Top Miner Embracing Boom in Electric Car Batteries -
more
An
Update On Norilsk Nickel - The 5 year price chart for Norilsk Nickel
("Nornickel") shows the stock has basically moved up and down (sideways)
over the past 5 years. -
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 16
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.72/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Monday and now total
just under the 221,900 tonne level. Nickel bounced off support at $5.62/lb
this morning ($12,400/tonne) but has done little in the way of recovery since.
Attendee's at LME Week started their meeting hearing how positive the outlook
for nickel looked, and nickel has continued its bearish ruin since. Makes
one wonder what the representatives of the big trading houses talked about
amongst themselves at dinner. Nickel can't be a boost from much these days.
The Euro bounced a little last Friday, and nickel, which would typically
get a boost from that, coasted. The International Stainless Steel Forum reports
nickel containing stainless steel production rose over 13% for the first
half of this year, and nickel falls. US electric vehicle sales have more
than doubled from last year the last few months and nickel retreats. Worldwide
sales of EV's thru September have risen from 124,000 to 172,000 and nickel
prices slip. After hitting their highest level in 3-1/2 years in early June,
nickel fell and in recent weeks, has turned neutral. Is this a buying
opportunity? Or is their more fat to cut from the bull? Or is the market
in a holding pattern until we can get past this trade war? Stay tuned.
Average price of cash nickel so far this month - $5.69/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper drops 1.5 pct as U.S.-China trade war raises
demand concerns -
more
Europe to spend billions on lithium-ion battery plants -
more
Battery metals appear to be losing their spark as prices start to fall -
more
Stocks Edge Higher With Yields as Earnings Roll In: Markets Wrap -
more
Monday's
market review - Lead bounces back on falling stocks and weaker dollar - Lead
jumped to its highest in six weeks on Monday, helped by a weaker dollar and
falling inventories, but U.S-China trade tensions kept pressure on most metals.
-
more
Here’s what’s ahead for nickel, copper, lithium and cobalt prices
- Escalating global trade tensions have helped drive down metal prices in
the second half of the year – but the outlook isn’t all bad, according
to leading analysts. -
more
Global
nickel supply gap to narrow in 2019 – The global supply gap in nickel
is likely to narrow in 2019, as output expands 10% to drive annual output
to 2.46 million mt, said SMM senior analyst, Yang Bo. -
more
Stainless
steel output expands 3.9% in Sep – China produced 2.16 million mt of
stainless steel in September, up 3.9% from August and 1.6% from September
2017, SMM data showed. -
more
worldsteel Short Range Outlook 2018/2019 - The World Steel Association
(worldsteel) today released its October 2018 Short Range Outlook. worldsteel
projects global steel demand will reach 1,657.9 Mt in 2018, an increase of
3.9%* (please see *note below) over 2017. In 2019, it is forecast that global
steel demand will grow by 1.4% to reach 1,681.2 Mt. -
more
Townsville processing plant on cards as part of Pure Minerals acquisition
- Pure Minerals may develop an ore processing plant in Townsville, Queensland
following its acquisition of emerging nickel-cobalt company Queensland Pacific
Metals. -
more
Courtesy
AISI - In the week ending on October 13, 2018, domestic raw steel production
was 1,881,000 net tons while the capability utilization rate was 80.2 percent.
Production was 1,705,000 net tons in the week ending October 13, 2017 while
the capability utilization then was 73.2 percent. The current week production
represents a 10.3 percent increase from the same period in the previous year.
Production for the week ending October 13, 2018 is up 1.6 percent from the
previous week ending October 6, 2018 when production was 1,851,000 net tons
and the rate of capability utilization was 79.0 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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 11
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.75/lb. Indicators
at 6:10 am CST today show 3 month nickel trading around $.10/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Wednesday and started
today's session just over the 224,900 tonne level. There is little base metal
news today, as media around the world has apparently shifted their immediate
attention to the equity rout, which started in the US yesterday and is making
itself around the world today. Asian stocks fell in the 3-4% range overnight,
and futures show US markets are still edgy. While the doomsayers are always
looking for a reason to spread their doom and gloom, we would agree with
those who believe this is an overdue correction that is needed to keep the
market healthy over the long term. It appears nickel is caught up in
the sell off fervor, and the large commodity houses will be watching for
timely buying opportunities. The old saying that it is never wise to try
to catch a falling knife applies in the mean time. Technical support comes
at $5.55/lb, which is the traded low for the year, reached on September 11th.
This is our last update for the week, so we hope you have a safe and relaxing
weekend.
Average price of cash nickel so far this month - $5.68/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Base metal prices drop, track equities rout on macro
fears -
more
Stock Rout Spreads as Bonds, Currencies Stay Calm: Markets Wrap -
more
Yesterday's market review - Zinc falls after nearing 3-month high on
tighter supplies - Zinc fell on Wednesday on trade and inflation worries,
although it had earlier risen back towards a 3-month high reached last week
on shrinking inventories and smelter cuts in China. -
more
Nickel
price volatility likely to remain “pretty intense” - World output
of stainless steel leapt 7.6% in 2016 and a further 6.7% in 2017 - but “a
turning point” has been reached and the rate of increase can be expected
to slow to perhaps 3.4% in 2018 and 2.6% in 2019, according to Jim Lennon,
Senior Commodities Consultant at UK-based Macquarie Capital (Europe) Ltd.
-
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 15
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.75/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Thursday and Friday and
started the week just over the 222,100 tonne level. Stockpile withdrawals
have fallen an average of 587.45 tonnes per day so far this month. After a very
volatile Wednesday, with nickel falling to $12,40/tonne, markets bounced
back and have been choppy since, but failing to do much more than tread water
within a $200 tonne range. $13,000/tonne remains to put up resistance, but
hasn't been tested since last Tuesday. Base metals are trading sideways and
subdued so far today. ISSF reported Friday that stainless steel production
was up over 13% for the first half of 2018. The market is sending few technical
signals, with indicators mostly neutral. While last week got interesting,
it ended just slightly higher than the prior Friday.
Average price of cash nickel so far this month - $5.68/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Firmer dollar, trade concerns weigh on London metal
prices -
more
Trump & Xi: Metals and Mining in the Strongman Era -
more
Mincor hits shallow high-grade nickel — now it just needs somewhere
to process it -
more
Stock Slump Resumes; Oil Advances on Saudi Tension: Markets Wrap -
more
Friday's
market review - Aluminium breaks six-session losing streak as markets recover
- Aluminium rebounded on Friday, breaking a six-session losing streak, as
speculators and consumers regarded the lower prices as good value against
a background of recovering share markets. -
more
Stainless Steel Production Increases by 13 3 percent to 26 1 Million Tons
in the First Half Year of 2018 – The International Stainless Steel Forum
(ISSF) has released figures for the first half year of 2018 showing that
stainless steel melt shop production increased by 13.3% year–on–year
to 26.1 million metric tons. -
more
Tsingshan
to offer fixed-price stainless contracts with no alloy surcharge: SMR -
Chinese-owned Tsingshan, the world’s top stainless steelmaker, is prepared
to offer fixed-priced long-term contracts that have no alloy surcharge -
a move that could change the way the metal is priced globally, an industry
veteran told Reuters. -
more
LME Week metals puzzle is how to trade a trade war: Andy Home - Donald Trump
didn’t make it to LME Week, the annual jamboree of the global metals
trading community. -
more
NSSC
Cuts Retail Price of Ni-base SST for October by 5,000 Yen - Nippon Steel
& Sumikin Stainless Steel Corporation (NSSC) disclosed on 4 October its
contract prices for domestic retailers of cold-rolled (CR) stainless steel
(SST) sheet as well as heavy and mid plates for October. -
more
FeNi
Producer in Greece Suffers from Damages due to Cyclone = Kiln and building
are totally damaged, and production volume is down to half = According to
the local news report, the cyclone which occurred in the Mediterranean Sea
at the end of last month passed Greece during 29th to 30th of September,
and Larco General Mining & Metallurgical Co. S.A., a ferro-nickel producer
suffered from damages. -
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 10
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.90/lb
. Indicators
at 6:10 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and now total
just over the 225,500 tonne level. Nickel traders were able to drive nickel
up to the $13,000 level overnight, but has fallen back since. $5.90/lb is
your line of resistance to watch, and if this market has any opens of turning
bullish, it will have to beat this level. It looked like we might see the
beginning of a bull run late last month, with this line being beat for two
consecutive days, but it turned out to be little more than shorts covering.
LME Week is ending this afternoon, so it will be interesting to see if the
major trading houses make any adjustments in their trading strategy. It's
hard to find anyone that is bearish on nickel long term, but that pesky trade
war and its potential fall out continue to damper short term expectations.
Average price of cash nickel so far this month - $5.66/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Shanghai zinc hits near 4-month top as supplies
tighten, LME prices flat -
more
Treasuries Yields Edge Higher as Stocks Struggle: Markets Wrap -
more
Tuesday's market review - Zinc surges as supply deficit erodes stockpiles
- Zinc prices rose on Tuesday towards last week’s three-month high as
falling stockpiles underlined a global supply shortage. -
more
Tsingshan
Group's Plant Indonesia Has No Damage from This Earthquake - Around 18:00
local time on September 28, a big earthquake with a magnitude 7.5 occurred
in the central part of the Sulawesi Island in Indonesia which caused seismic
surges, which brought down big damages to Palu, a provincial capital of Central
Sulawesi. -
more
Higher nickel prices sees Rox relook at Fishers East - An updated scoping
study into the Fishers East nickel project, in Western Australia, has proved
the project to be financially robust, and technically low risk, ASX-listed
Rox Resources said. -
more
Clive Palmer withdraws $1.8 billion lawsuit against Queensland Nickel liquidators
- Businessman Clive Palmer has withdrawn counterclaims seeking $1.8 billion
in damages from liquidators of Queensland Nickel, who are seeking to recover
hundreds of millions of dollars over the closure of the Townsville refinery.
-
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 9
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.70/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.10/lb
higher. Stockpiles
of nickel stocked in LME licensed warehouses fell on Monday and now total
just over the 226,000 tonne level. Base metal traders who aren't attending
the LME Week meetings, apparently are laying follow the leader to the Shanghai
Metal Markets. Typically, it is the other way around. SMM nickel closed up
2.2% last evening and LME nickel is currently up over 1%. The Euro is lower
this morning, which is a drag on commodity trading. With LME Week meetings
still going on in London, the future of nickel is being discussed and the
hopes for future growth tend to levitate toward the rise in electric vehicle
sales and the need for nickel filled batteries. US EV sales numbers are out
and sales of electric vehicles rose from around 21,200 last year, to nearly
44,500 this September. Worldwide sales thur the end of September show over
1,067,000 vehicles have been sold YTD. Last year sales for the entire year,
sales totalled just over 1,227,000 vehicles, so based on current trend, 2018
sales will pass 2017 sales in early November, or possibly late October. Sales
in the US have already surpassed last years total sales over nearly 200,000
by over 15%. So unless someone comes up with a better battery that does not
use nickel, the future demand indeed looks bright.
Average price of cash nickel so far this month - $5.65/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Shanghai zinc hits 3-1/2-month top on dwindling
supply, steel lifts nickel -
more
El Niño ALERT; positive Indian Ocean Dipole likely underway -
more
Monday's
market review - Receding supply concerns push aluminium to 1-week low - Aluminium
prices fell to one-week lows on Monday as worries about supplies receded
after a Brazilian court approved emergency waste measures that could allow
the world’s biggest alumina refinery to resume production. -
more
Bullish view for 'exciting' nickel - Nickel has once again won the poll as
the most exciting metal in the upcoming year, with 55% of the audience of
metals traders and investors voting for it at the LME Week metals debate
Monday. -
more
LME
Week: Chinese infrastructure to accelerate in H2 2018, SMM says - infrastructure
construction in China will accelerate in the second half of the year as Beijing
has been loosening policies in the face of potential impact from the trade
war, said SMM general manager, Ian Roper. -
more
APAC Region to Drive Robust Market Growth of Primary Nickel - Chinese
stainless steel mills accounted for more than 50% of the total consumption
of primary nickel. -
more
LME Ni Average Price in September Down by 7% from Prior Month = It shows
a declining trend as dollar purchase is going on due to trade friction between
USA and China = LME monthly average nickel price in September 2018 was Cash
seller: US$12,527.25 per ton (US$5.682 per lb) and 3-month seller: -
more
Economics looking favourable at St George Mining’s ‘phenomenal’
nickel sulphide project - John Prineas, executive chairman of St George Mining
Ltd, spoke to Proactive London's Andrew Scott while in the City for LME Week
2018. -
more
Courtesy
AISI - In the week ending on October 6, 2018, domestic raw steel production
was 1,851,000 net tons while the capability utilization rate was 79.0 percent.
Production was 1,706,000 net tons in the week ending October 6, 2017 while
the capability utilization then was 73.2 percent. The current week production
represents a 8.5 percent increase from the same period in the previous year.
Production for the week ending October 6, 2018 is down 0.3 percent from the
previous week ending September 29, 2018 when production was 1,856,000 net
tons and the rate of capability utilization was 79.2 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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 8
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.72/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Thursday and Friday and
started the week just under the 226,500 tonne level. Its LME Week and based
on the tweet I have read this morning, nickel is the topic of primary discussion.
A poll of members show a many believe nickel has the most growth potential
next year of all base metals. Back in the real world, nickel is down sharply
this morning, along with all base metals, as markets worry about the Italian
financial debt crisis, and a 3% drop in China stocks overnight. While China
stocks have been in a slump for sometime now, the week long holiday apparently
did not help change their pessimism. The exchange between U.S. Secretary
of State Mike Pompeo and Chinese Foreign Minister Wang Yi this morning ,is
being described in business media as 'frosty', so any hopes for a quick
resolution to the trade war, prove once again to be wishful thinking.
Markets are typically subdued during LME Week, so we aren't expecting
much to happen the next few days. The overall trend remains negative since
May 1st, so if the upbeat talk on nickel's future can stabilize the market,
it would make it much easier on the lives of nickel's end users. With stainless
a target of the trade wars, life is difficult enough.
Average price of cash nickel so far this month - $5.65/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London aluminium sinks on bets huge Brazil refinery
could restart -
more
Fresh Italy Slump Adds to Stock Gloom; Euro Drops: Markets Wrap -
more
Friday's
market review - Aluminium tumbles from 16-week highs - Aluminium prices slipped
on Friday from a 16-week high reached in the previous session as investors
began to question whether a plant producing the raw material alumina would
close. -
more
Macro
disquiet drowns out signs of base metals shortages - Uncertainty about how
metals demand will be hit by trade wars, rising U.S. interest rates and a
slowdown in China is weighing on industrial metals prices, submerging signals
pointing to potential shortages. -
more
Police break blockade by Kanaks at New Caledonia nickel mine - Police in
New Caledonia have broken up a blockade of the nickel mine at Tiebaghi. -
more
Munali
Nickel Mine back on track - Munali Nickel Mine is set to resume production
of minerals after securing US$40 million operating capital. -
more
Nickel
mining set to start on Solomons' San Jorge island - Nickel mining is finally
set to commence on San Jorge Island in Solomon Islands' Isabel Province.
-
more
Highlands
confirms Ramu expansion focus - Highlands Pacific has confirmed recent
speculation that the operator of its world-class Ramu laterite nickel-cobalt
project in Papua New Guinea is looking at a US$1.5 billion expansion option.
-
more
Britain's
CNM plans to relaunch Zambia nickel mine next year - British firm Consolidated
Nickel Mines plans to restart production at Zambia's Munali nickel mine in
the first quarter of next year, its local subsidiary said on Saturday. -
more
BCSC
settles with Nickel One CEO - British Columbia’s securities watchdog
has settled with junior mineral explorer Nickel One Resources after a deficient
technical report prompted an investigation. -
more
Federal
Lawmakers Closely Watching SW Oregon Nickel Mine Proposal - An
“on-again-off-again” proposal for a nickel mine in southwest Oregon
is on again. -
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 4
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.79/lb. Indicators at
6:05 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now sit
just under the 228,100 tonne level. Nickel jumped about $.17/lb yesterday
in midday trading and has done little since. Not sure why the jump, especially
in light of the Euro falling at about the same time. A weaker Euro is typically
not good news for base metals traded in US Dollars. Reports out of Australia
that production has resumed at its Kalgoorlie Smelter after being closed
about 1-1/2 weeks to repair equipment damaged in a fire. That's a smidge
better than the near year shut down the SMM website forecast they would be
shut down. Very light news day, and maybe with China coming back from a week
long holiday next week, we will learn more about what is going on in that
country. With their markets down about 20% YTD, fears of an economic
slowdown due to the trade war with the United States, are becoming stronger.
And with China being the largest worldwide consumer of nickel, you have your
primary reason for the slump in pricing. This is our last update for the
week, so we hope each of you has a safe and relaxing weekend.
Average price of cash nickel so far this month - $5.62/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Aluminium extends rally to 3-1/2-month peak on alumina
shortage fears -
more
China's Holiday Week Only Gets Worse as Stocks Slump With Yuan -
more
Bond Slump Goes Global; Dollar Gains, Stocks Drop: Markets Wrap -
more
Yesterday's market review - Aluminium hits highest since June as Norsk
Hydro shuts refinery - The price of aluminium jumped to its highest in more
than three months on Wednesday after Norsk Hydro said it would halt output
at its Alunorte alumina refinery, stoking concerns about shortages of the
raw material. -
more
BHP's Kalgoorlie nickel smelter restarts - Production at BHP Billiton's
Kalgoorlie nickel smelter restarted on Wednesday after a fire last month,
a company spokeswoman said on Thursday. -
more
Universal
Stainless Reaches Labor Agreement at Its Bridgeville Facility - Universal
Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that
it has reached a new five-year collective bargaining agreement with the hourly
employees at its Bridgeville facility represented by Local 9531 of the United
Steelworkers. -
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 3
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.63/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell slightly on Tuesday and
remain just over the 228,400 tonne level. Nickel is up slightly this morning,
but showing little enthusiasm. Merafe announced ferrochrome prices are down
for the fourth quarter. Allegheny finally published their October stainless
steel surcharges and they are nearly back down to March levels. SLN is reporting
a second New Caledonia mine is being blockaded by local activists, who want
an independence referendum in that country scheduled for next month, called
off. Apparently SLN is the most visible representative of the nation
of France available. Interesting article below by Chinese media about
"Contradictory views on China’s steel output.".
Average price of cash nickel so far this month - $5.61/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Aluminium rallies to 5-week high as Hydro shuts
Brazil output -
more
Great Returns Come To Those That Understand Business Cycles -
more
Metminco completes first leg of nickel acquisition financing -
more
U.S. Stock Futures Follow European Gains on Italy: Markets Wrap -
more
Tuesday's market review - Copper loses more ground as manufacturing
growth slows in China - Copper prices slid for a second session on Tuesday
as growth in China's manufacturing sector slowed last month, raising concerns
over demand in the world's top industrial metals consumer. -
more
Merafe Resources Limited - Ferrochrome price announcement for the fourth
quarter of 2018 are advised that the European benchmark ferrochrome price
has been settled at USD 124 cents per pound for the fourth quarter of 2018,
a decrease of 10.1% from the USD138 cents per pound price in the third quarter
of 2018. -
source
Nickel
turnaround on the cards after stocks savaged by 20pc price drop - Nickel
prices have plummeted more than 20 per cent in four months, taking ASX nickel
stocks with them — but experts expect a turn-around in 2019. -
more
EU
Safeguard Duties on Stainless Steel Products - Developing Countries as defined
by EU and European Economic Area members – Norway, Iceland and Liechtenstein
– are exempted from the new EU stainless steel policy. All other countries
aside these are affected. -
more
Second major New Caledonia nickel mine closed by protesters - A second
large nickel mine in New Caledonia has been blockaded, stopping about 200
people from going to work. -
more
Axiom says
near supply agreement for Solomon Islands nickel mine - Australia's Axiom
Mining on Wednesday said it was close to deciding on a partner to take nickel
ore supplies from its mine in the Solomon Islands in exchange for finance.
-
more
Contradictory
views on China’s steel output. But only time will tell if production
will rise or fall - Reports by the Australian government and other economic
analysts that Chinese steel production has peaked are at odds with the
expectations by local observers that the government’s infrastructure
push will underpin demand .-
more
Courtesy
AISI - In the week ending on September 29, 2018, domestic raw steel production
was 1,856,000 net tons while the capability utilization rate was 79.2 percent.
Production was 1,711,000 net tons in the week ending September 29, 2017 while
the capability utilization then was 73.4 percent. The current week production
represents a 8.5 percent increase from the same period in the previous year.
Production for the week ending September 29, 2018 is down 0.4 percent from
the previous week ending September 22, 2018 when production was 1,863,000
net tons and the rate of capability utilization was 79.5 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
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 2
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.67/lb. Indicators
at 6:00 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses rose on Monday and now total
just under the 228,500 tonne level. Nickel continues its slow slide, but
still has nearly $400 tonne separating it from its Sept 11th low. With China
closed and traders ho-humming any news of supply disruptions recently, we
are not really sure anything can convince traders to change their sour mood
this week. The Euro is lower as well today, which adds additional pressure
on base metals trading. Still no October surcharges posted on any of the
major US stainless steel producers, and we really aren't sure why. These
surcharges have always been posted in the latter half of the preceding month,
and have been without missing a beat for many years. The US PMI backed off
a bit last month, but remains strong. China and Europe PMI numbers also slipped,
while Japan's held steady. We post these four monthly
(here).
Average price of cash nickel so far this month - $5.59/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper drops for 2nd session on China’s growth
worries -
more
Nickel As A Catalyst For Benzene And Cyclohexane -
more
Euro Drops as Italy Worries Simmer; Stocks Decline: Markets Wrap -
more
Monday's
market review - Copper slides as nerves about Chinese demand surface - Copper
prices dipped on Monday after weak manufacturing data from top consumer China
caused nervousness about demand, but falling inventories in London Metal
Exchange-approved warehouses helped support sentiment. -
more
For
the month of October 2018, North American Stainless will increase the fuel
surcharge to 27% for stainless flat and long products. The surcharge rate
is considered a maximum level for October, and will be reviewed monthly.
-
source
Global Stainless Steel Trade Plagued by Quotas - The introduction, by the
United States government, of quotas and tariffs, arising from their Section
232 investigations, reduced the flow of imported stainless steel into the
country. -
more
Chinese explorer seals Blackham Resources farm-in deal at Wiluna - Blackham
will bank an initial $2.8 million cash for 20 per cent of the project, along
with $100,000 for the project’s exploration data. -
more
Here
are the commodities that look best for the year ahead - Buy copper, nickel,
gold and uranium. Sell lithium, coal, iron ore and alumina. -
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 1
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.72/lb. Indicators at
6:10 am CST today show 3 month nickel trading around $.12/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on both Thursday and Friday
and start the day just over the 228,200 tonne level. After suffering its
worst quarter in three years, nickel, which fell over 15% last quarter, is
starting this quarter in the same mood. Nickel's short term trend has been
negative since Wednesday and long term trend has been negative since June.
We have major support at $5.50/lb, that being the lowest nickel has traded
this year (on September 11th). We still feel the long term 'fundamentals'
remain positive, although the trade war is currently overshadowing. The Euro
fell a tad on Thursday but has done little since. China manufacturing continued
to grow in September, but at a slower rate. China markets are closed this
week for National Day Holiday. Neither of the two US stainless steel
manufacturers we follow have posted updated October surcharge figures on
their web sites as of this morning. This is unusual as they both typically
post these a week prior to the end of the month. Late last night, Canada
and the US reached a new trade agreement, with NAFTA now a piece of history.
Today begins the final quarter of 2018 and we hope its a profitable one for
you..
Average price of cash nickel so far this month - $5.68/lb (average Sept)
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London metal slips as week-long holiday kicks off
in China -
more
Found metal that can withstand extremely high temperatures and pressure -
more
Simulations uncover why some supernova explosions produce so much manganese
and nickel -
more
U.S. Stock Futures, Loonie, Peso Advance on Trade: Markets Wrap -
more
Friday's
market review - Zinc hits 7-week peak as Chinese inventories slide - Zinc
prices hit a seven-week high on Friday after stocks in Shanghai slid to the
lowest in more than a decade and other metals rallied as speculators cancelled
bearish positions. -
more
Nickel Monthly News For The Month Of September 2018 - Nickel spot prices
were slightly down in September; however, nickel LME inventory continues
to fall. -
more
Nickel
producers eye Indonesia to plug into EV battery market - Several global metals
producers have set their sights on Indonesia’s nickel reserves to tap
an expected surge in demand for the metal for electric vehicle batteries.
-
more
After Another Quarter of Losses, Is Worst Over for Commodities? - Commodities
just posted the longest losing streak in more than three years, and analysts
and investors are giving conflicting signals over whether the worst is over.
-
more
Botswana does not owe the Russians – Keorapetse - During the PAC appearance
by the Administration of Justice, Keorapetse said as far as he was concerned,
the country did not owe the Russians since the contract was never signed.
-
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
(7:00 AM CST is 12 PM in London)
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and now totals
just under the 218,900 tonne level. We are currently trading at $5.30/lb,
which is a new low for 2018. News that China's manufacturing sector may have
grown at its lowest level since July 2016 is not helping bulls find any footing.
And for a second time in as many days, a metals analyst is warning
about the potential bearish affect Tsingshan could have on the nickel market
long term. And daily withdrawals from LME warehouses have fallen for a second
month and running just a little over 1/2 of what they did in the first half
of the year. And then there is always the unknown effects from the trade
war. With that, we say goodbye to October.
Reports
Commodity/Economic Comments
Tuesday's market review - Aluminium hits 14-month low on renewed U.S.-China
trade tension - Aluminium slumped to its lowest in more than a year, with
other base metals also falling on Tuesday, on fresh concerns that a U.S.-China
trade war was dampening global growth. -
China's
Tsingshan rains on nickel bulls' party: Andy Home - Has nickel lost its electric
buzz? Bull spirits had been galvanised by the potential boost to demand from
the electric vehicle revolution. -
Nickel bull worries intensify for key electric vehicle component - The rout
in metal markets has spread to nickel at the same time as optimism over a
supply crunch for the key electric vehicle component fades. -
Press
release - For the month of November 2018, North American Stainless will increase
the fuel surcharge to 28% for stainless flat and long products. The surcharge
rate is considered a maximum level for November, and will be reviewed monthly.
Russia's
Nornickel says Q3 nickel output up 9 pct q/q - Russia’s Norilsk Nickel
(Nornickel) said on Wednesday its consolidated nickel production was at 53,739
tonnes in the third quarter of 2018, up 9 percent quarter-on-quarter. -
Clive Palmer reveals Bulgarian dinner date with nephew Clive Mensink, who
is the subject of two arrest warrants - Clive Palmer has told the Federal
Court he dined with Clive Mensink in Bulgaria a few weeks ago, but didn't
ask for his nephew's home address because he wanted to know more about his
girlfriend instead. -
Chinese metals giant Tsingshan can upset bullish nickel prices - Commodity
traders expect nickel, the silvery-white metal used to make stainless steel,
to be a winner from the electric-vehicle revolution - it is a key component
of batteries. -
Mines and batteries: a perfect match? - Finnish state-owned mining company
Terrafame has received a building permit from local authorities to build
a battery chemicals plant on the site of its Sotkamo nickel/zinc mine. -
Copper
price to spring back in 2019, zinc seen flat: Reuters poll - Copper prices
are due to rebound next year as healthy supply/demand fundamentals overcome
macro-economic worries, but zinc will be held back by rising output, a Reuters
poll showed. -
Blockade at New Caledonia nickel mine over - New Caledonia's SLN nickel company
says the blockade of its mine site at Kouaoua, which began in early August,
has ended. -
Gwede Mantashe weighs into BCL, Norilsk battle - South African mineral resources
minister, Gwede Mantashe has reportedly requested BCL Mine and Norilsk Nickel
to shelve their court battle over a US$271 million deal, and wait for his
decision. -
Merafe's Production Volume of FeCr in Jul-Sept 2018 Is 84,000 Tons - At the
end of last week, Merafe Resources Limited, South Africa announced the volume
of ferro-chrome produced by Glencore-Merafe Chrome Venture in the period
from July to September in 2018. -
Nickel
producer Eramet's earnings to be hit by New Caledonia protests - Protests
that have blocked some of Eramet’s mines in New Caledonia have curbed
its nickel output and will weigh on annual profit, the French mining group
said on Thursday. -
Vale Indonesia records lower production, higher revenue in Q3 - Publicly
listed nickel miner PT Vale Indonesia on Wednesday announced its unaudited
third-quarter performance, which recorded nickel matte production of 18,193
metric tons (MT) and sales of US$205 million -
Vale
still keen on nickel, at least in the long term - Vale said Wednesday it
remains optimistic about the long-term prospects for nickel. The short-term,
however, is another matter. -
Ramu
landowners pleased with CPI inclusion in land compo payment - The
landowners associations in the Ramu Nickel/Cobalt project in Madang have
expressed satisfaction in the developer’s decision to add the Consumer
Price Index in the calculation of its revised lands and compensation payment
rates to landowners. -
Cerro Matoso owes Colombia more than $56M in royalties - The Cerro Matoso
nickel mine, owned by Australian miner South32, owes more than $56 million
in unpaid royalties to Colombia, the country's comptroller said on Tuesday.
-
Voisey’s Bay starts to go underground - Cobalt 27 Capital Corp has received
confirmation from Vale of the start of the Voisey’s Bay transition to
underground mining with the first blast at the Reid Brook portal rock face
of the Voisey’s Bay Mine Expansion, located in Newfoundland & Labrador,
Canada. -
Japan's
Purchase Price of HC FeCr for Oct-Dec Down by US Cents 14 = US Cents 132
per lb, which is affected by cheap price meant for China = Japanese stainless
steel mills have continued negotiation with multiple overseas ferro-chrome
producers to fix the purchase price of high-carbon ferro-chrome for the period
from October to December in 2018 and have this time come to an agreement
on the price to be down by US Cents 14 from the prior period. -
FeNi
Producer in Greece Suffers from Damages due to Cyclone = Kiln and building
are totally damaged, and production volume is down to half = According to
the local news report, the cyclone which occurred in the Mediterranean Sea
at the end of last month passed Greece during 29th to 30th of September,
and Larco General Mining & Metallurgical Co. S.A., a ferro-nickel producer
suffered from damages. -
Munali
Nickel Mine back on track - Munali Nickel Mine is set to resume production
of minerals after securing US$40 million operating capital. -
Nickel
mining set to start on Solomons' San Jorge island - Nickel mining is finally
set to commence on San Jorge Island in Solomon Islands' Isabel Province.
-
Britain's
CNM plans to relaunch Zambia nickel mine next year - British firm Consolidated
Nickel Mines plans to restart production at Zambia's Munali nickel mine in
the first quarter of next year, its local subsidiary said on Saturday. -
EU
Safeguard Duties on Stainless Steel Products - Developing Countries as defined
by EU and European Economic Area members – Norway, Iceland and Liechtenstein
– are exempted from the new EU stainless steel policy. All other countries
aside these are affected. -
