This page is archived news covering the period of September 2012
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Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Nickel PricesStainless Steel News

Friday, September 28

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $8.32/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.10/lb higher, with all London traded base metals trading higher this morning. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and now total just over 122,250 tonnes. European equity markets opened higher this morning but have slipped into negative territory since. Nickel opened higher and has done little since. China is closed next week for holiday so the first week of the final quarter of 2012 may see a calming in the recent trading volatility. Then again, the major LME players don't make money unless the price goes up or down, so we will have to see what happens.
  • Have a safe and relaxing weekend.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rises on Spain relief, ends quarter up 7 pct - more
  • LME Morning - Base metals rally one pct after China stimulates and Spain signals cuts - more

  Reports

  • SMR Monthly Stainless Steel Briefing - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.60
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • BNC in Debt, Equity Swap - more
  • Goldman sees China's growth slowing to 7 percent for next decade - more
  • China industrial profits decline further in Aug - more
  • World Economic Outlook -- Analytical Chapters - more

   China Cr Ore Imports Up - August 2012 = Up 4% from July to 937,472 tons, the third highest monthly record = According to China's customs statistics, details of the imports of chrome ore in August 2012 as well as during the eight months (January - August) of 2012 are as per the table attached hereto. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, September 27

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $8.19/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.10/lb higher, with all London traded base metals trading higher this morning. Stockpiles of nickel stored in LME warehouses slipped on Wednesday and now total just over 122,250 tonnes. Spain is expected to announce new austerity measures today, Greece has reportedly agreed to more, Italy sold long term debt at its lowest level since March, and the US awaits numerous economic reports today. Equity and metals markets are trading higher this morning as volatility continues. Markets may calm a little next week as China takes a week long holiday break.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper edges higher on demand optimism, euro zone eyed - more
  • Bloomberg - Copper Rises as China Company Profits Fuel Stimulus Speculation - more
  • LME Morning - Base metals cautiously higher, eurozone and China in focus - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.55
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • 2012 map of China steel mills now available - more
  • Norilsk picks Singapore as Asia trading hub - more
  • (SSY) The latest SteelBenchmarker from World Steel Dynamics shows 6% gain in the Chinese Hot Rolled Band (HRB) price to a 6-week high of $475/t. Elsewhere the HRB price in EU rose 4% during the same period to a 3-month high of $625/t and the US price declined 5% to a 2-month low of $692/t.
  • (Reuters) China's average daily crude steel output fell 2.01 percent to 1.857 million tonnes between Sept 11-20 from the preceding 10 days, data from the China Iron & Steel Association (CISA) showed on Wednesday, as steel mills trimmed output amid poor demand.
  • (MF) According to statistics released by the customs, China exported 113,802 tons of stainless flat products including hot rolled and cold rolled products in August, rising by 9.4% from a month earlier while falling by 30 % year on year.
  • AMM notable quote - Marcegaglia USA Inc. president David Cornelius at the 26th annual 'Stainless & Its Alloys Conference' in Chicago 2012 - "A decade ago, nickel prices were primarily determined by supply and demand. Today, we have investors buying and selling nickel as you would any other commodity. As a result, the pricing is at times not reflective of the underlying fundamentals but driven by speculation of brokerage houses."

   China steelmaker, miners cut output as slowdown bites - China's steel market, the world's biggest, is feeling the pinch of a slowing economy that has sapped demand for new ships and construction work. Its largest listed steelmaker has halted output at a 3 million tonnes-a-year plant, and over a third of the country's iron ore mines stand idle. - more

    S.African mine labour strife halts slide in chrome - The impact of South African mine labour unrest has spread beyond precious metals to UG2 chrome ore, a by product of platinum and key ingredient in stainless steel, with output cuts putting a floor under prices after four months of decline. - more

   Serbians Unite Against Nickel Extraction - A popular Serbian proverb quips that when it comes to politics there are as many opinions as there are people in this central European country of seven million. - more

   Japan Crude Stainless Steel Production Rise Continues - July 2012 = 311,295 tons in a continued steady rise from the drop in May = Crude stainless steel production in July 2012 by the 7 major Japanese stainless steel mills was 311,295 tons, up 5.0% from 296,377 tons recorded in June. - more

    Colombia to renegotiate terms of BHP's Cerro Matoso mine - Colombia will renegotiate out-dated contract terms including royalty payments for BHP Billiton's Cerro Matoso nickel mine in a bid to get a better deal for the Andean nation, government officials and a tribunal said on Wednesday. - more

   Russia's Norilsk Nickel sees African opportunity - Russia's Norilsk Nickel, the world's largest nickel and palladium miner, is taking its push to boost reserves to Africa, where it is considering deals and the acquisition of copper, nickel and platinum licenses, its CEO said on Wednesday. - more

   Intex Mulls Mindoro Nickel Refinery - With the way its mining plan is configured, a nickel refinery plant could well be a part of Norwegian-based mining company, Intex Resources ASA’s grand plan. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, September 26

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $8.34/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.13/lb lower, with all London traded base metals trading lower this morning. Stockpiles of nickel stored in LME approved warehouse so no change on Tuesday. US Federal Reserve member Charles Plosser said yesterday that quantitative easing measures may not help the U.S. economy grow and this news helped turn US markets south. Along with European economic concerns that are growing again, world markets have soured today. The Euro is trading at a two week low and this is putting pressure on metals traders. In our opinion, metals trading remains in overbought territory and is overdue for a correction. Whether that happens or not, it is obvious that nickel traders have awoke and volatility has returned.  
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slides on renewed European debt worries - more
  • LME Morning - Copper leads base metals lower amid EU worries - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • World Steel Production - pdf here
  • US Imports of Stainless Steel Mill Products - more
  • China E-Stainless Steel Daily Price Index - 93.53
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • (China) GDP may slow for 9th quarter - more
  • Mechel may sell 25% of mining arm to speed Elga coal development - more

   Xstrata to shutter Australian nickel mine due to low prices, high A$ - Global miner Xstrata said it is suspending operations at its Cosmos nickel mine in Western Australia due to prolonged weak prices for the metal and a strong Australian dollar, cutting around 150 jobs. - more

   Number 1 Global Steel Maker In The Works - And Nobody's Looking? - So, there's a new global leader in stainless steel in the making. Yet all this seems to have gone unnoticed at Seeking Alpha. - more

   Puzzlement Is Felt In Negotiations On Austenitic CR Stainless Sheets Against Ni Price Up - The LME nickel (Ni) price has risen to the level of $8 per pound since the latter half of last week, and both a seller and buyer look puzzled as it reached the mark all at once. - more

   Nickel ore imports sturdy in August - GAC - China’s imports of nickel ore and concentrate remained strong in August and analysts expect similarly healthy volumes in coming months on the back of restocking, with ore prices the lowest since early 2010 and prices for the finished metal on the rise. - more

   ThyssenKrupp Materials will build $13 million facility in Woodstock, Alabama - ThyssenKrupp Materials North America Inc. said today that it will invest $13 million to build a materials processing and distribution center in Woodstock, Ala. - more

   China Ferroalloy Production By Division - August 2012 = Up 7.3% from July thanks to the sharp increases in Inner Mongolia, Shandong and Yunnan = Production of ferroalloys by division (province, region and municipality) in China in the single month of August 2012 as well as during the first eight months (January through August) of 2012 are as per the table attached hereto. - more

    CIF import premiums up on pre-holiday inquiries - Chinese import premiums of London Metal Exchange-registered brands of copper cathode on a CFR basis gained amid a pickup in inquiries mainly from market participants in China ahead of the holidays next week, industry sources said Wednesday. - more

   Coppermoly: Favourable metal recovery - Queensland-based copper explorer Coppermoly Ltd yesterday announced favourable metallurgical tests of samples taken from drill core at its Nakru-1 copper-gold-silver project on New Britain Island. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, September 25

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $8.15/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.15/lb higher, with all London traded base metals trading higher this morning. Stockpiles of nickel stored in LME approved warehouses slipped slightly on Monday and now sits just under the 122,450 tonnes. Chinese markets will be closed next week for a holiday and news that at least one province is stockpiling metals has base metal markets trading higher this morning. Equity markets are mostly quiet and mixed this morning, after Asian markets ended lower. INteresting article below from the Wall Street Journal announcing the popularity of stainless steel appliances may be coming to an end.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper slightly firmer, China demand prospects uncertain - more
  • LME Morning - Base metals hold onto gains but caution remains - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • ThyssenKrupp Nirosta October Stainless Steel Surcharges - more
  • China E-Stainless Steel Daily Price Index - 93.54
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • Is Chinese economy sliding into dangerous position? - more
  • Odds of El Niño ease, but risk remains - more

    Stainless steel production for first half of 2012 - Preliminary figures released by the International Stainless Steel Forum (ISSF) show that stainless steel crude steel production has been stable in the first half of 2012 with a slight decrease of just 0.2% compared to the same period of 2011. - more

   Chinese Stainless Steel Prices May Rebound In October - Accordingly, the Chinese stainless steel prices finally rebound for October with the increases of CNY 1,000 per tonne on cold drawn stainless steel round bar and CNY 300 per tonne on stainless hot rolled coils in domestic market, according to Taiyuan Iron & Steel Group, the largest stainless producer in China. - more

   China's Yunnan province to stockpile 300,000T of metals-sources - China's Yunnan province will stockpile 300,000 tonnes of industrial metals from local producers, sources at two smelters that received government notices said on Monday, a move aimed at helping smelters ride out tough economic times. - more

   FeCr Q4 European Benchmark Negotiations To Start Next Week = Price cut inevitable due to decline of spot prices = Negotiations for the benchmark price applicable to the South African Charge Chrome shipped to Europe during the fourth quarter (October - December) of 2012 are scheduled to start next week. - more

   After Stainless, Now What?  - Major manufacturers are placing bets on different potential successors to the shiny, upscale appliance finish, which surprised everyone with its resilience - more

   Courtesy AISI - In the week ending September 22, 2012, domestic raw steel production was 1,824,000 net tons while the capability utilization rate was 73.8 percent. Production was 1,860,000 tons in the week ending September 22, 2011, while the capability utilization then was 76.1 percent. The current week production represents a 1.9 percent decrease from the same period in the previous year. Production for the week ending September 22, 2012 is up 0.4 percent from the previous week ending September 15, 2012 when production was 1,817,000 tons and the rate of capability utilization was 73.5 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Monday, September 24

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $8.24/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.11/lb lower, with other London traded base metals lower as well. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Friday and now totals just over 122,450 tonnes. Markets are trading later as German business confidence falls for a fifth month, and EC President warns European leaders not to lose their sense of urgency in addressing the EU credit problems. The US Dollar is higher on renewed European concerns and that is putting pressure on metal trades. US markets appear to be on track for a quiet opening.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls as investors await signs of real demand - more
  • LME Morning - Base metals all lower, dollar regains some ground - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • Oryx Stainless monthly Report - pdf here
  • AK Steel October Stainless Surcharge - pdf here
  • Allegheny October Stainless Surcharge - more
  • Weekly Scoreboard - pdf here
  • China E-Stainless Steel Daily Price Index - 93.52
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • Goldman Sachs Forecasts 18.2% Return on Commodities in Year - more
  • Shanghai Nickel Spot Prices to Slip on European Uncertainties - more

    August 2012 Crude Steel Production - World crude steel production for the 62 countries reporting to the World Steel Association (worldsteel) was 124 million tonnes (Mt) in August 2012, a decrease of -1.0% compared to August 2011. - more

   Norilsk Nickel Sees First-Half Profit Falling as Much as a Third - OAO GMK Norilsk Nickel, the world’s largest miner of the metal, expects first-half profit to decline by as much as a third after average prices of the metal dropped, according to Chief Executive Officer Vladimir Strzhalkovsky. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, September 21

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $8.11/lb . Indicators at 6:55 am CST today show 3 month nickel trading around $.09/lb higher, with most other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses retreated slightly for second day on Thursday and now totals just over the 120,850 tonne level. We are getting e-mail's asking for our opinion on why nickel is suddenly spiking again. In our opinion, and that is all it is, this is a cyclical move by traders on (1) hopes that the world economy will pick up based on the additional stimulus being pumped into markets and (2) technical trading that moves the market upward on its own momentum. The problem with #2, as we have seen in the past few years, is that this kind of rally can fizzle just as fast. We are seeing no reports that the price jump we are seeing is justified by anything more than a 'hope and a prayer'. Buyers of nickel and stainless now have to decide if they can afford to wait it out, or if that move carries too much risk. For nickel watchers, the price has been fairly stable for some time now, so its return to a more volatile nature, is overdue.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steadies on stimulus optimism, doubts on rally - more
  • LME Morning - no post today

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 93.25
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • Storm Clouds Darken Over Global Economy - more
  • Euro Advances With Spanish Bonds as Commodities Climb - more
  • (MF) Taiyuan Iron & Steel Group (Tisco), the largest stainless producer in China announced to hike its export prices by US$150/ton average for September orders, driven by sharply rising nickel prices boosted by the QE3 monetary policy.

   Indonesia seeks 10 pct royalties from miners with long-term contracts - Indonesia wants miners who hold long- term contracts of work to increase export royalty payments to 10 percent in renegotiated deals, the country's deputy energy and minerals minister said on Friday. - more

   BNC ready to export - Bindura Nickel Corporation will start exporting in the first quarter of next year, as the reopening of Trojan Mine begins, chairman Mr Kalaa Mpinga said yesterday. The nickel miner raised about US$21 million through a rights offer, enabling it to restart Trojan Mine, placed on care and maintenance - more

   Japan Ferroalloy Market Report - September 14, 2012 = Importers' concern gradually growing about China's reaction to the Senkaku Islands issue = Summary of the market situation of ferroalloys in Japan as of September 14 is as follows. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, September 20

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $8.05/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading lower as well. The Euro is trading 2/3 of 1% lower against the US Dollar, adding negative pressure on base metals trading. Chinese stocks are trading at their lowest level since February 2009 after an initial reading of HSBC’s September survey on manufacturing conditions fell to 47.8. Likewise, the preliminary September purchasing-managers’ index for the euro zone fell to its lowest level since June 2009. Metal traders, as well as equity traders, are worried about the world economy continuing to slow.  
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls after China, France factory data - more
  • LME Morning - Base metals step back, caution returns to market - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.85
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • Commodities Boom May Have Peaked as Fed Stimulus Fades - more
  • BHP Says Pace of China Iron Ore Demand Has Slowed by Half - more
  • (China) Tougher rules on iron and steel industry - more
  • Japanese Steel Production Monthly Statistics for August 2012(Excel) - here
  • August Shipments Slow in the U.S. and Canada - more
  • Metalformers Expect Slightly Better Business Conditions - more

   Indonesia to Relax 2014 Ore Ban to Allow Smelter Projects - Indonesia, preparing to ban raw- metal ore shipments from 2014 while compelling mining companies to build smelters, will probably allow some exports beyond that deadline to give more time for processing plants to be built. - more

   China Nickel Production Up - August 2012 = 24,543 tons, up 21% from July = According to National Bureau of Statistics of China, production of nickel in August 2012 was 24,542.5 tons (of nickel content), the highest monthly record this year, up 20.7% from 20,341.3 tons in the preceding month, and up 21.7% compared to the same month of 2011. - more

   Outokumpu revises Inoxum deal proposal to regulators - Finnish stainless steel maker Outokumpu has offered to divest parts of its business in a bid to be allowed to buy ThyssenKrupp's Inoxum unit, after the European Commission raised concerns about competition. - more

   Chinese competition threatens South African domination of ferrochrome industry - International Ferro Metals has experienced a challenging year as Chinese companies have begun to challenge its production of ferrochrome. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, September 19

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $8.08/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher but declining, with other London traded base metals trading mixed and mostly subdued. Stockpiles of nickel stored in LME approved warehouses rose sharply on Tuesday and now totals just over 120,900 tonnes. The Euro is trading over 1/3 of 1% lower, adding pressure to base metals trading.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits 4.5-month high as BOJ adds to stimulus rally - more
  • LME Morning - Base metals mixed; zinc and lead hit fresh highs, aluminium and tin flounder - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.45
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • S.Korea buys nickel, tin for Oct-Nov - more

   Norilsk Sees Nickel at $16,000 Making 30% of Output Unprofitable - Nickel prices at about $16,000 a metric ton would make 30 percent of global output of the metal unprofitable, according to Moscow-based OAO GMK Norilsk Nickel, the biggest producer. - more

   DJ Sharp Rise In Commodity Prices Won't Be Repeated-BHP - Commodity prices aren't likely to repeat the sharp gains seen in recent years because global production is rapidly stepping up to meet demand, a top BHP Billiton Ltd. (BHP) executive said Wednesday. - more

   Outokumpu in European distribution divestment - Stainless Steel producer, Outokumpu plans to sell nine of its warehouse distribution businesses across Europe. - more

   Baosteel Also Left Its Domestic Prices Unchanged For Oct. Shipment - Baoshan Iron & Steel (Baosteel) of China seems to have noticed by 12th to leave its domestic prices of flat-rolled products unchanged for October shipment to each customer. - more

   China steel, iron ore at 1-month top on demand rebound - Shanghai rebar futures hit one-month highs on Wednesday on signs of a pickup in steel demand in top market China, prompting mills to restock iron ore and supporting prices of the steelmaking ingredient that fell by a quarter in August. - more

    Farmers accuse Madagascar mining giant of killing bees - A swath of farmland around a giant nickel and cobalt mine in Madagascar has been contaminated by pesticides that have wiped out local bee populations, a group of farmers claimed Tuesday. - more

   Talvivaara mulls 1 bln euro nickel expansion project - Finnish mining company Talvivaara is considering a one billion euro investment to expand nickel production in Sotkamo, eastern Finland, a senior executive said on Wednesday. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, September 18

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $8.26/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.15/lb lower, with all London traded base metals trading lower this morning. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just shy of the 120,000 tonne level. Nickel joined the other metals traded on the LME this morning by giving back some of its stimulus rally gains. Spanish banks reported nearly 10% of household and business loans in Spain are behind on their payments. European equity markets are trading lower this morning on European recovery concerns.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper eases for second day as stimulus rally sputters - more
  • LME Morning - Base metals lower, profit-taking and softer euro weigh on prices - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 92.01
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • (MF) Jinchuan Group once again raised the electrolytic nickel ex-factory price, increase the range of 2,000 yuan / ton.
  • Stainless steel scrap exports from Russia - more

    China helping nickel: analyst - Three key drivers will boost commodity prices in the second half of 2013 -- China, China and China -- says an economist with TD Securities. - more

  • Nickel price drop only temporary, TD economist says - more

   Tougher rules on iron and steel industry - China announced a series of new regulations on Monday to fine-tune its iron and steel industry in a bid to make it more energy efficient and environmentally friendly. - more

   German steelmakers cut output forecast on Europe crisis - Germany's steel industry association cut its forecast for 2012 crude steel output in Europe's biggest economy and said it sees no quick recovery as the euro zone debt crisis hurts demand for steel products more than expected. - more

   Nickel Institute : German Risk Assessment on Nickel in Toys Published - The German Federal Institute for Risk Assessment (BfR) published an updated Opinion (No. 010/2012 dated 11 April 2012) on 'Contact allergens in toys: Health assessment of nickel and fragrances'. The Nickel Institute published a Position Paper in response to the BfR Opinion. - more

   Courtesy AISI - In the week ending September 15, 2012, domestic raw steel production was 1,817,000 net tons while the capability utilization rate was 73.5 percent. Production was 1,860,000 tons in the week ending September 15, 2011, while the capability utilization then was 76.1 percent. The current week production represents a 2.3 percent decrease from the same period in the previous year. Production for the week ending September 15, 2012 is up 0.3 percent from the previous week ending September 8, 2012 when production was 1,811,000 tons and the rate of capability utilization was 73.3 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Monday, September 17

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at  $8.06/lb , its first close above $8/lb since May 1st.  Indicators at 7:00 am CST today show 3 month nickel trading around $.12/lb , with other London traded base metals trading lower. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now totals 120,150 tonnes. Asian markets closed lower and European markets are trading lower as well, but nickel is breaking with today's trend to crawl higher. Whether this is the last gasps of a mini bull run, or the first phase of a long term bull run, is yet to be determined. But nickel prices have risen too high, too quickly, so we expect a correction.  
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper eases but stays near 4-1/2 month high on Fed move - more
  • LME Morning - Base metals take breather, fund buying to provide direction - more

  Reports

  • SSINA Releases Market Data for June 2012 - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • Weekly Scoreboard - pdf here
  • China E-Stainless Steel Daily Price Index - 91.54
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • NAW Report: Despite Uncertainty, Most Distributors Are Seeing Steady Growth - more
  • Bullish Wagers at 16-Month High as Citi Sees Gains: Commodities - more
  • (China) Deflation rears its ugly head - more

   Nickel refinery part of Intex’s grand plan - Nickel, according to my Google-adept friend, is a versatile mineral that has more than 300,000 industrial and consumer uses. - more

  Nickel price breathes life into Mirabela - Beleaguered Mirabela Nickel has been buoyed by a rise in the nickel price, gaining as much as 12 per cent on the Australian Securities Exchange. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, September 14

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $7.60/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.38/lb higher, with all London traded base metals trading much higher. Stockpiles of nickel fell back slightly yesterday and now totals just over 120,875 tonnes. Asian markets soared on the Federal Reserve QE3 news, and Europe is following in its wake. Even US markets point higher for a second day. The Wall Street Journal reported yesterday "The Federal Reserve is launching an open-ended program to buy $85 billion of bonds each month, and will keep short-term rates near zero through mid-2015." In the light of the slowing economic recovery, US Federal Chairman Ben Bernanke appears to be breaking all the rules trying to figure out what will kick the recovery with permanent momentum. We will have to wait and see what will happen, but the risks have grown higher. Let's hope the reward is equally much higher.
  • Have a safe and relaxing weekend!  
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper jumps to multi-month highs on Fed stimulus - more
  • Bloomberg morning - Commodities Jump to Five-Month High as QE3 Boosts Metals - more
  • LME Morning - Base metals race higher, set fresh multi-month peaks on Fed stimulus announcement - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.34
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • Sumitomo Metal jumps - more
  • Commodities Post Longest Rally Since 2010 as Fed Boosts Outlook - more
  • Iron Ore-Shanghai rebar rises 3 pct on Fed stimulus - more

    EU ferrochrome benchmark price to fall in Q4 -Eti Krom - Turkish ferrochrome producer Eti Krom expects the European ferrochrome benchmark to fall slightly in the last quarter of this year due to oversupply and weaker demand, the company chief executive Robert Yuksel Yildirim said on Thursday. - more

   ISRI Roundtable: Bulls in the Pen - Several factors have contributed to a lackluster stainless steel scrap market in the past two years, but at least one panelist at the 2012 Institute of Scrap Recycling Industries Inc. (ISRI) Commodities Roundtable Forum nickel/stainless session was convinced better times are around the corner. - more

   Vale freezes hiring - Just weeks ago, Vale Ltd. was advertising to hire 400 new employees at its Canadian operations. - more

   We’d leave within 5 years if denied mine permit, Xstrata warns - The mining company Xstrata Nickel Falcondo will shutter Dominican Republic operations in less than five years if it doesn’t get the go ahead to exploit Loma Miranda, in central La Vega province, senior executives warned Thursday. - more

   China's Steel Export In August Showed 4,240,000 Tons, Down 1.9% From July - China's export quantity of steel products (steel ingots and semi-finished products excluded) in August was 4,240 thousand tons (hereinafter abbreviated as t/t), down 1.9% from the previous month. It was revealed on 10th by the General Administration of China Customs. - more

   Groups reach deal on monitoring UP nickel mine - The company building a nickel and copper mine in Michigan's Upper Peninsula says it will pay $300,000 a year for independent reporting on how the operation is affecting the environment. - more

   Madagascar signs operating permit for Ambatovy mine -govt - Madagascar has signed an operating permit allowing Canada's Sherritt International Corp and partners to begin production at the Ambatovy nickel mine, its government said on Thursday. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, September 13

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday's trading session at $7.55/lb  . Indicators at 6:50 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals mixed and quiet. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and now total just shy of the 120,900 tonne level. World equity markets are mostly lower as traders await the results from the Federal Open Market Committee meeting. Markets have priced in a major move toward QE3 by the Fed today, and are experiencing last minute jitters, as they await the 12:30 pm EST announcement. This announcement will be made after the London Metal Exchange is closed so we expect little movement for nickel today.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper holds near four-month peak ahead of Fed decision - more
  • LME Morning - Base metals steady ahead of FOMC, aluminium stocks climb on backwardation - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.25
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more

   Acerinox says open to steel pricing formula changes - Spanish steel producer Acerinox is open to changes in pricing for stainless steel if customers desire, but prefers the current pricing mechanism, its Chief Executive Bernardo Velazquez told Reuters on Wednesday. - more

   Chrome ore export to drop nearly 20% in FY13: MMTC - Chrome ore export from India is expected to slip by 18 per cent to 330,000 tonnes in the current financial year, says Minerals and Metals Trading Corporation of India (MMTC), the sole agency permitted by the government to export it. - more

   Dominican doctors guild also opposes Xstrata nickel mine - The Dominican Medical Association (CMD) today joined the growing group which defends the natural resources and oppose nickel mining at Loma Miranda, in the Central Mountains. - more

   Brazil's Vale Says It Will Delay Projects in 'Conceptual' Phase - Brazilian mining company Vale SA said Wednesday it will delay projects in the "conceptual" phase of development because of the economic climate. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, September 12

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $7.63/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel reclaimed their small loss of 6 tonnes yesterday and remains totaling over 120,800 tonnes. Germany's top court did rule that Germany's participation in the European bailout is Constitutional and markets worldwide are higher on the ruling. The US Federal Reserve begins a two day meeting later today and many expect QE3 to be announced. Free money is good for investors but it is far less clear what the long term effect there will be on the worldwide economy.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper rises for 4th session after German ruling - more
  • LME Morning - Base metals set new highs as ESM overcomes German constitutional hurdle - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.15
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • (MBNA) Jinchuan hikes nickel prices twice in one week
  • (Dow Jones) U.S. nickel exports rose 17.9% in July from the previous month, but was down 18.7% from the previous year, the Commerce Department reported Tuesday.
  • (Dow Jones) U.S. nickel imports rose 38.8% in July from last month, and was up 12.9% from the previous year, the Commerce Department reported Tuesday.
  • (MF) According to data released by China's National Bureau of Statistics of view, 24,542.5 tons of nickel metal production in August, a year-on-year growth of 21.7%. 1-8 months of accumulated 145,726.5 tons, a year-on-year decline of 1.8%.
  • Text:IBD/TIPP Consumer Optimism Index 51.8 In Sep Vs 45.6 Aug - more
  • Threat of Port Strike Not Affecting Retail Container Imports - more
  • Small Business Optimism: Slight Bump in August - more
  • China announces measures to stabilize trade - more

   Aperam suggests stainless steel pricing change - Stainless steel maker Aperam is talking to its customers about a possible move to a shorter-term pricing mechanism for the alloy, CEO Philippe Darmayan said at an industry conference on Wednesday.. - more

  China's Major SUS Mills Cut HCFeCr Price For September = Taiyuan Steel quoted a cut of RMB500/ton, causing even weaker market outlook = According to a media report from China, Taiyuan Steel, one of the very large stainless steel producers in China quoted RMB7,100/ton for high-carbon ferrochrome (half paid in cash and half by delayed payment) to be delivered during September, down RMB500/ton (or RMB450/ton based on TEX's findings) from August. - more

   State seeks partner for Munali Nickel - Government says it is working towards securing a viable equity partner for Albidon Limited’s Munali Nickel Mine in Mazabuka District to safeguard the 200 workers at the firm. - more

  Daily steel output down in August - NBS - China’s daily steel output declined to a six-month low in August, but analysts said output may rise again after prices gained on the back of Beijing’s recently announced infrastructure spending, renewing overproduction concerns and limiting further price increases. - more

   Xstrata mining dividends cut welfare rolls in Nunavik communities - The number of people in Salluit and Kangiqsujuaq who receive income support — what’s called “last resort financial assistance” — dropped dramatically last month due to the distribution of more than $13 million in revenue sharing from the Xstrata nickel mine in Nunavik. - more

    Indonesia's SBY supports Norilsk Nickel's plans for his country - A working meeting between the General Director, Chairman of the Board of OJSC MMC Norilsk Nickel (hereinafter – “Norilsk Nickel” or “the Company”) Vladimir Strzhalkovsky and President Susilo Bambang Yudhoyono of the Republic of Indonesia took place at APEC Business summit in Vladivostok on September, 8th. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, September 11

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $7.61/lb .  Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and remains totaled just over 120,800 tonnes. Metal traders appear to be shadowing European equity markets lower, as europe awaits tomorrow's decision by Germany's top court on the constitutionality of that country's participation in the European Stability Mechanism. Markets expect it to vote favorably, as a negative vote could be disastrous to the Euro's future. US futures are higher.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper steady, below 4-month peak; stimulus eyed - more
  • LME Morning - Metals down from multi-month highs, await stimulus news - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.10
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • (Reuters) China's Baoshan Iron & Steel will keep main steel product prices unchanged for October bookings from September, the company said on Tuesday, after cutting prices for three consecutive months.
  • Mining-Zimbabwe: Mineral output on target  - more
  • (China) Economic slowdown cools labor market - more
  • Pacific near El Niño thresholds; positive Indian Ocean Dipole - more

   Japan Follows China In Ferrochrome Price Cut = Recent spot purchase of high-carbon ferrochrome by a special steel mill at below US$0.90/lb = The weak trend in China of the high-carbon ferrochrome spot price has spread to Japan, where spot buyers, mostly special steel mills including stainless steel mills, apparently require the price of high-carbon ferrochrome price to be lowered to the similar level as seen in China. - more

  China August metals output up, aluminium at record - China's production of most base metals rose in August, reversing declines in the previous month, with primary aluminium hitting an all-time monthly high, official data showed on Tuesday, as smelters expect demand to improve in the next 3 or 4 months. - more

   Courtesy AISI - In the week ending September 8, 2012, domestic raw steel production was 1,811,000 net tons while the capability utilization rate was 73.3 percent. Production was 1,860,000 tons in the week ending September 8, 2011, while the capability utilization then was 76.1 percent. The current week production represents a 2.6 percent decrease from the same period in the previous year. Production for the week ending September 8, 2012 is down 2.8 percent from the previous week ending September 1, 2012 when production was 1,864,000 tons and the rate of capability utilization was 75.4 percent.

   Outokumpu - We Create The Future Out Of The Past - Recycled and Reborn - more

  Morning Nickel Inventory and Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us
  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Friday's trading session at $7.48/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.06/lb higher, with all London traded base metals trading higher for a second day. Stockpiles of nickel stored in LME approved warehouses slipped on Friday and now totals just over 120,800 tonnes.  European metals traders are still upbeat about last weeks ECB announcement and metals are trading higher, even with a lower Euro. How long this rally will last is anyone's guess, but price have risen too fast to be sustainable, in our opinion.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper, zinc hit four-month highs on stimulus hopes - more
  • LME Morning - Base metal rally continues, amid stop-loss buying and stimulus hopes - more

  Reports

  • Weekly Scoreboard - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.06
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • (LGMI) According to China Iron and Steel Association (CISA), the daily crude steel production of its members in late August averaged at 1.5214 million tonnes; the national daily output is estimated to be 1.8715 million tonnes, both decreasing by 58,900 tonnes over prior month
  • (ETCN) Reportedly, in 2012, Chinese import of nickel ores will slip in its annual growth to 29% from 92% of 2011, despite its increase in volume.
  • (MF) Nippon Steel & Sumikin Stainless (NSSC), the largest stainless producer in Japan announced to remain the September contract prices for stainless cold rolled coils unchanged.

  Finland's Outokumpu to cut 100 jobs in general stainless unit - Finnish stainless steel maker Outokumpu said it would cut around 100 jobs in its general stainless unit to save costs. - more

  Nickel mine is Environment chief’s first major challenge - For ex Soil and Water Deputy minister Victor Garcia the evaluation of the Environmental Impact Study to extract ferronickel at Loma Miranda is the first major challenge for the new Environment minister Bautista Rojas and other senior officials, because it’s a metal mining project whose very nature as a site with extensive biodiversity and many variables makes it like no other the agency normally evaluates. - more

   Global miners face growing nationalism - The growing global threat of resource nationalism has been rated as the No 1 threat for miners and Papua New Guinea is no exception, according to lawyer Hubert Namani. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Friday, September 7

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Thursday's trading session at $7.28/lb  . Indicators at 7:00 am CST today show 3 month nickel trading around $.11/b higher, with other London traded base metals also trading higher. Nickel is benefitting from yesterday's announcement that the European Central Bank plans to buy the shorter-term debt of struggling euro-zone countries, which is giving a boost to markets around the world. In our opinion, we have been here before and this is not the magic pill that will make the Eurozone debt crisis a thing of the past. For now, markets like what they see and are reacting positively. Stockpiles of nickel slipped slightly on Thursday and now total just under the 121,100 tonne level.
  • Have a safe and relaxing weekend.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper hits almost 4-month high on China spending plan - more
  • LME Morning - Copper charges to four month highs, firm euro supports ahead of US jobs data - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.03
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • (DJN) Norilsk Nickel Metal & Metallurgical Co. said Thursday its deputy general director for sales and distribution, Viktor Sprogis, has resigned.
  • (Dow Jones) Russia exported 161,600 metric tons of nickel in January-July, 90.1% more than in the corresponding period last year amid a favorable world demand and pricing environment, the federal customs service reported Friday.
  • (Telegraph) OECD expects Germany to enter a double-dip recession this year with growth of -0.5p in Q3 and -0.8pc in Q4.

   Japan SUS Product Exports Drop - July 2012 = Down 11% from June; exports to most of the major destinations dropped = Japan Iron and Steel Federation compiled the Trade Statistics released from the Ministry of Finance into the table as attached hereto with regard to Japan's exports of stainless steel products during July 2012. - more

  Steel companies facing difficulties: S&P - Weak margins and overcapacity will erode the profitability of China's steel sector this year, amid sluggish demand and declining prices, ratings agency Standard & Poor's said at a teleconference Wednesday. - more

  DMCI, UK partner gain control of nickel producer - DMCI Holdings Inc. and its UK-based partner D&A Income Ltd. have acquired a controlling 60.7-percent stake in ENK Plc., a mid-tier nickel producer with assets in Turkey, Philippines and Albania. - more

  Glencore Raises Xstrata Offer as Glasenberg Proposed as CEO - Glencore International Plc (GLEN) raised its offer for mining company Xstrata Plc by 9 percent in a bid to salvage the year’s biggest takeover and overcome opposition from investors including Qatar’s sovereign wealth fund. - more

  After Stainless, Now What? - Is this the end of a 25-year run for stainless steel? Stainless has been the big word in kitchen appliances for years. What's next? Two major appliance manufacturers are going head-to-head with difference finishes, as Ellen Byron explains on Lunch Break. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Thursday, September 6

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Wednesday trading session at $7.30/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mixed, as traders await a statement from European Central Bank chief Mario Draghi. Stockpiles of nickel stored in LME approved warehouses continue to swell, and now total over 121,150 tonnes.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper buoyed by stimulus hopes before ECB meet - more
  • LME Morning - Metals mostly higher, positive ahead of key ECB meeting - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.01
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more

  Molybdenum majors look to raise output – China’s leading molybdenum producers are increasing output in anticipation of a strong recovery in demand and to take advantage of new regulations introduced in July to encourage consolidation. - more

    Stainless Steel Prices Further As Nickel Cost Decline - The trend in MEPS world average stainless steel prices has been negative over the past twelve months. - more

  Russia plans to invest billions in smelters in RI - Russian firms plan to invest billions of dollars in refineries, smelters and infrastructure, including railways and power plants, in Indonesia within the next few years, an ambassador says. - more

  Japan Ferroalloy Market Report - August 31, 2012 = Imported low-carbon ferrochrome price falls = Summary of the market situation of ferroalloys in Japan as of August 31 is as follows. - more

  Mining firm starts green livelihood project in Mindoro - Mining company Mindoro Nickel in cooperation with the National Greening Program of the Department of Environment and Natural Resources has launched its own reforestation program dubbed the Livelihood Enhancement Agro-Forestry in Occidental Mindoro to prove that “responsible mining” can be done. - more

  Courtesy AISI - In the week ending September 1, 2012, domestic raw steel production was 1,864,000 net tons while the capability utilization rate was 75.4 percent. Production was 1,853,000 tons in the week ending September 1, 2011, while the capability utilization then was 75.8 percent. The current week production represents a 0.6 percent increase from the same period in the previous year. Production for the week ending September 1, 2012 is up 0.1 percent from the previous week ending August 25, 2012 when production was 1,863,000 tons and the rate of capability utilization was 75.4 percent.

  Morning Nickel Inventory and Price Statistics & Figures

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

Wednesday, September 5

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Tuesday's trading session at $7.23/lb .  Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose over the 120,000 tonne level after gains were recorded on Tuesday. This the first time stockpiles have risen above the 120,000 tonne level since April of last year. Stockpiles bottomed out most recently on November 9th of last year, when they fell to 83,160 tonnes. Stainless steel producers in the US are raising pries using different tactics, but unless the market picks up, they might have hard time getting them to stick.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper edges lower as European stimulus hopes fade - more
  • LME Morning - Metals mostly lower, pause ahead of end-week ECB/US jobs events - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.05
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • (MF) Yieh United Steel Corp. (Yusco), one of the major stainless steel producers in Taiwan announced to remain the domestic and export prices for all its stainless steel products unchanged for September after cutting the prices for consecutive six months.
  • China revises up 2011 GDP growth to 9.3% - more

   North American Stainless will increase the fuel surcharge to 35% for stainless flat and long products shipping in the month of September 2012. - more

  Gloomy Future of South African Ferrochrome Industry = Joint venture partners must be seriously reviewing viability = A darker shadow is cast on the South African ferrochrome industry that had been leading the world until recently with its very low operational costs compared to others and with abundant chrome ore reserves. - more

  Samsung eyes $2.5b nickel play at Wingellina - Shares in Metal X rose 11 per today after it announced that it had signed memorandum of understanding with Samsung to advance its $2.5 billion Wingellina laterite nickel project in the State's north-east. - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Tuesday, September 4

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)
  • Dow Jones reports three month nickel closed Monday's trading session at $7.35/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals mixed and mostly quiet. Stockpiles of nickel fell for the first time in a week on Monday, and now total just over 119,700 tonnes. Markets are quiet so far today, as traders await news on what, if any, economic stimulus China, Europe, or US might take to stimulate a faltering world economy.
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper dips on China fears, stimulus hopes limit losses - more
  • LME Morning - Metals mostly higher, poised ahead of European meetings - more

  Reports

  • Damstahl Stainless Steel Report September 2012 - pdf here
  • Weekly Scoreboard - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 91.10
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • European Debt Crisis Live - more
  • Belvedere cuts costs and boosts output to offset tough nickel market - more
  • Mwana Africa confirms go-ahead for BNC rights issue - more
  • Slight earnings increase for ARM - more
  • (MF) It’s reported that the four major stainless producers including Acerinox, ThyssenKrupp, Aperam and Outokumpu have announced to reduce the alloy surcharges for 304, 316 and 430 grade cold rolled (CR) stainless steel products for September, due to lower nickel prices and debt crisis in euro zone.
  • (Interfax) China’s depressed steel sector took a turn for the worse in August as the official Purchasing Managers' Index (PMI) fell to the lowest level since December 2008.
  • Commodities Vulnerable if Bernanke Short on Stimulus - more

   AK Steel said today that it will increase transaction prices for all Type 201, 301, 430, 430 ULTRA FORM®, 409, and 409 ULTRA FORM® flat rolled stainless steel products, effective with shipments on September 4, 2012. - more

   Stainless Steel in August/September 2012 Stainless in Autumn - All Downhill from now on? - The European stainless steel market remained very soft at the beginning of Q3/12. There was an increasing uncertainty amongst end users in Europe in Q2 and most of Q3/12. - more

   Customers Are Highly Sensitive To Price Rise Of LME Nickel/Inquiries Are Increasing - As soon as the LME nickel price rose to $7.50 per pound late last week, customers' bid prices of austenitic cold-rolled (CR) stainless steel sheets rose, and the number of their inquiries are increasing. - more

   Hardnose protesters to erect campsite targeting Xstrata Nickel mine - The National Youth Action Network (RED) on Monday announced it will stage a campout next weekend to protest nickel mining at Loma Miranda (Central Mountains), calling that natural resource an essential part of the island’s hydrographic system and one of the most important aquifers for the northeast region. - more

  LCH.Clearnet to reduce LME metals margin rates - London clearing house LCH.Clearnet is reducing its margin rates for the London Metal Exchange's copper, primary aluminium, aluminium alloy, North American alloy, nickel, lead, zinc and molybdenum contracts, effective September 7, LCH said Tuesday. - more

  Antam Cites Falling Mineral Prices for Earnings Drop - Aneka Tambang, a state-controlled gold and nickel miner, posted a big decline in earnings in the first half of this year, as metal and mineral prices slid. - more

  The 60th Anniversary Ceremony of China Stainless Steel Industrialization - NI Beijing office receives award for “Outstanding Contributions to the Development of China’s Stainless Steel Industry” - more

  Morning Nickel Inventory and Price Statistics & Figures

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

Monday, September 2

  US markets are closed for Labor Day today and will re-open on Tuesday. Our next update will be tomorrow.

  Reports

  • Reuters metals morning - Copper up on economic stimulus hopes after gloomy China data - more
  • LME morning - Base metals rise, bolstered by fresh stimulus hopes - more
  • Reuters Inside Metals - pdf here
  • Commonwealth Daily Alert- pdf here
  • Daily Market Report - pdf here
  • Commodities Report - pdf here
  • Metals Insight - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Alpha Commodities Daily - pdf here

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8/20 Market Prices
not official prices

ferrochrome and chromium prices

Moly Oxide (>51%)
$10.90/lb
 
Source

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