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Daily Nickel Market News & Stainless Steel Prices

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Stainless Steel News and Prices

Monday, September 30

  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 $6.34/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading mixed, and mostly higher, yet quietly. Stockpiles of nickel stored in LME approved warehouses fell for a third session, and now total just over the 226,050 tonne level. Equity markets are down as a US government shut down this evening seems more likely. Base metals are mostly higher, puzzling after a flash China PMI by HSBC, came in lower than expected. The reading remained positive, but just barely. Today the third quarter of 2013 ends, and for nickel, it was a rather ho-hum few months, with record breaking stockpiles the lead story. With China closed the rest of the week for Golden Week, we expect teh first week of the final quarter, to be no more eventful.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings Between Gains and Drops on Chinese Manufacturing - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.15
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (FAN) According to the local media, China's production of stainless crude steel in July 2013 was 1.57 million tons, up by 7.2% from the prior month.
  • (MF) Turkey’s imports of stainless flats jump by 28% y-o-y in July
  • (FW) In August 2013, the total production of metal fasteners in China reached 0.526 million tons, down 0.82% compared to the same period last year; during January to August 2013, the total production of metal fasteners in China was 4.063 million, up 5.52% compared to the same period last year.

    Brazil's Votorantim to halt Mirabela Nickel contract, close plant - Brazilian metals producer Votorantim Metals said it will suspend operations at its 13,000 tonne a year nickel matte export plant in November and interrupt a supply contract with Mirabela Nickel Ltd , an Australian miner that produces nickel concentrate in Brazil's Bahia state. - more

    Poseidon Nickel appoints new chairman, acknowledges Andrew Forrest's contribution - Poseidon Nickel has reorganized its board with the election of H.E. "Bud” Scruggs as its new chairman. - more

    Inuit employment in Nunavik mines still weak - Nunavik Inuit still make up only 13 per cent of the work force at the region’s only fully operational mine. - more

  Morning Nickel Price Statistics & Figures

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

Friday, September 27

  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 $6.29/lb . Indicators at 7:30 am CST today show 3 month nickel trading around $.07/lb higher, with all London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses fell on Thursday, and now total just over the 226,200 tonne level. US Dow futures are lower this morning, and European markets are sharply lower, on fears of a US shutdown. The rhetoric in Washington amongst the hard liners remains the same, while the more level headed politicians try to find a compromise. With a potential shutdown set for early next week, time is beginning to work against them. In our opinion, Congress will find a way out of this mess, with another last minute agreement that will kick the can down the road for someone else to pickup. Yesterday one of the Fed chairmen got the market excited as he discussed his personal thoughts on QE. He would like to see it linked to the employment rate for the US and pretty much guaranteed nothing will happen to it until the Bernanke term has ended. The addicted loved this news, and the Dow ended higher for the first time this week. The high has apparently already worn off today. Nickel continues to roll higher, with Norilsk calling for mines who aren't making money, to close. Makes one think it might not cost as much to produce a pound of nickel in Russia's Siberia as in other parts of the world. Could be an interesting weekend, with eyes on Washington. There is little we can do about it individually except observe and prepare, but in the mean time, enjoy the limited amount of weekends life has to offer.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • LME Morning - Copper prices steadier but markets mostly ranging - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 83.38
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (Reuters) South Korea has bought a total of 420 tonnes of nickel for arrival by Nov. 30 via tenders closed on Thursday, the state-run Public Procurement Service said on its website.

    Norilsk Sees Nickel Surplus Shrinking Next Year on Idled Plants - OAO GMK Norilsk Nickel, the world’s largest producer of the metal, urged producers to start idling unprofitable operations to fight a surplus that has damped prices and caused losses. - more

  • Russia's Norilsk sees global loss-making nickel capacity cut in fourth-quarter - more

    China's Stainless Crude Steel Production in July Is 1.57 Mil. Tons = Up by 7% from prior month, and apparent consumption is 1.167 million tons= According to the local media, China's production of stainless crude steel in July 2013 was 1.57 million tons, up by 7.2% from the prior month. - more

    Philippines Mining Tax Backfires - The government’s take on mining in terms of royalties fell by 18.4 percent year on year in the first semester to P577.55 million, according to the Mines and Geosciences Bureau (MGB). - more

    Andrew Forrest stands down from Poseidon Nickel - Andrew Forrest has stood down from Poseidon Nickel ahead of an $8 million repayment deadline the junior needs to settle with the mining billionaire. - 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 26

  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 $6.27/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose to yet another record high on Wednesday and now total 226,278 tonnes. Cancelled warrants also continue to break records and have continued to run in the 20-21% range over the last few weeks. Economic news from the US was positive yesterday but Congress' inability to accomplish anything economically in Washington has markets nervous. The US government reported yesterday that it estimates the US government will run out of money on October 17th if Congress does not raise the debt limit. And the government could shut down next week if Congress does not pass a stop gap measure. Markets have gotten use to the Republicans forcing these type of discussions down to the wire, but this time they seem to have backed themselves into a corner by drawing a line in the sand and this has raised eyebrows around the world. US market futures are higher this morning in preparation of a day with lots of economic data to be released. Metal trading could best be described as accomplishing about what a wave does. Up, then down, back up, then back down, with something falling into the water occasionally that causes a sharper rise in the peak, with a harder fall to follow. Overall, its going nowhere, but without some up or down movement, traders can not make any money. Today we are on day two of the upswing, and there is no reason to believe this one will ever catch the attention of a surfer. It is interesting to watch teh news and analysts these days. Ten years ago, when you talked about nickel you were talking about Russia, Canada, or Australia. We even found an article when researching the Philippines nickel market years ago, that showed a huge mountain of what the article called 'junk' nickel, low content laterite ore that wasn't worth processing. Ten years later, all anyone wants to talk about is Indonesia and that low grade nickel ore that used to get discarded. Its became so valuable to China that the country is actually considering banning its export. And with nickel stockpiles continuing to grow, some in the industry are hoping they do, while others feel the supply keeps nickel prices competitive.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs Before Report Seen Showing Stronger U.S. Growth - more
  • LME Morning - Base metals edge higher, US concerns weigh on dollar - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.57
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (SSY) The world export price of hot rolled band slipped $4/t over the last two weeks to $573/t, according to the latest SteelBenchmarker published by World Steel Dynamics.
  • Baosteel says steel use to peak in 2018 - more

   Commodities ‘Super Cycle’ Is Seen Enduring by McKinsey - Commodity supply constraints and demand from emerging markets mean it’s premature to talk about the death of the super cycle that brought a longer-than-average period of rising prices, McKinsey & Co. said. - more

    China firms to sign nickel smelter deals during Xi's Indonesia visit - At least four China-backed Indonesian nickel smelter projects, including one worth at least $3 billion, are expected to be finalized and announced during a state visit by China's president to Jakarta next week, company executives said. - more

    Antam to Build Plant for Stainless Steel - State-controlled miner Aneka Tambang is looking to expand its business by building a plant to produce stainless steel, said the company’s president director, Tato Miraza. - more

    Indonesia's Antam expects to ship up to 50 pct more nickel ore in 2013 - Indonesia's PT Aneka Tambang (Antam) expects to export up to 50 percent more nickel ore this year at 10 million-12 million tonnes, a director at the state-controlled miner said. - more

    Nickel Institute : Nickel in Tomorrow’s World: Tackling Global Challenges - The Nickel Institute has today released a new report 'Nickel in Tomorrow's World: Tackling Global Challenges' which highlights how nickel contributes to technologies for a more sustainable society and economy, one which meets the needs of a growing global population. - more

    US stainless scrap recycler Keywell files for Chapter 11 - Chicago-based stainless scrap recycler Keywell has filed for Chapter 11 bankruptcy protection as part of an agreement to sell a substantial portion of its assets to rival stainless scrap processor Cronimet, according to court documents filed Tuesday in the Bankruptcy Court for the Northern District of Illinois. - more

    Low nickel prices depress first half PHL mining royalties by 14% - Royalties received by the Philippine government from mining companies fell by 14 percent to P577.55 million in the first half of the year, from P707.4 million as year earlier, the Mines and Geosciences Bureau (MGB) reported Thursday, citing low nickel prices as a major factor in depressing revenues from the extractive industry. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, September 25

  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 $6.25/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading mostly higher, but quietly. Stockpiles of nickel stored in LME approved warehouses set another all time record high of 225,426 tonnes overnight. One year ago today, LME reported licensed warehouses held 122,442 tonnes. Now that we have seen a 100,000 tonne gain over the last 12 months, it is only a matter of time before we see the stockpile double within a twelve month time - unless the source of supply slows. Nickel is getting a boost from a stronger Euro this morning, and as long as the news of a potential US government shutdown stay in the headlines, and the fight over the U.S. debt limit looms, the Euro could benefit. These headlines are also having a negative effect on equity markets, with Asia ending lower overnight, Europe trading lower at the moment, and US futures lower as well. We will get two reports this morning; sales of a new homes in the US and a durable goods report, which could help US markets determine an early morning direction. The gain of 7,062 tonnes in nickel over the last four days is a staggering number and serves as a warning to stockholders of nickel mining companies that shutdowns of smaller mines are possible.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises Before Report Seen Showing Higher U.S. House Sales - more
  • LME Morning - Base metals rangebound but support levels could be tested - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 82.80
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • Vale, Fortescue see iron ore prices holding up on China demand - more

    Korea's Import & Export Trends of Main Ferroalloys in August 2013 - Korea's import & export statistics shows the import & export details of main ferroalloys in August 2013 in attached Tables (1) & (2) respectively. - more

    Indonesia Probably Won’t Ban Ore Exports in 2014, Lennon Says - Indonesia will probably refrain from fully banning mineral ore exports in 2014 as the move would spur unemployment in the producing regions, said Jim Lennon, commodities consultant to Macquarie Group Ltd. - more

    Anglo American Sees Barro Alto Nickel Output Cut Until 2016 - Anglo American Plc., the mining company with operations from Australia to Brazil, expects output at its biggest nickel project to remain curtailed until mid-2016 as it rebuilds two furnaces to fix design problems. - more

    Lundin Mining announces Eagle mine construction update - Lundin Mining Corporation today provides a progress update on the continued development of the high grade Eagle nickel/copper mine located in the Upper Peninsula of Michigan. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, September 24

  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 $6.31/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.09/lb lower, with other London traded base metals trading lower as well. Stockpiles continue to break all time record highs, and for the eleventh time this month and third consecutive day, they have done it again. Stockpiles now total 222,012 tonnes, just 400 tonnes shy of a 100,000 tonne gain in the last 52 weeks. With little else to talk about, analysts continue to speculate on the effect of the planned Indonesia export nickel ore ban due to take effect in 2014. There is also some debate on whether Indonesia can afford to block a major source of income for the country as its economy slows sharply. For short term traders, attention has shifted from the US Fed to the US Congress, as another US government shutdown looms - and this time looks more likely. Right on its heels will be the debate on raising the US debt limit or run the risk of defaulting on government obligations. The Republicans have drawn a line in the sand and want their support for either of the two above contingent on Obamacare being unfunded, something the Democrats and President refuse to negotiate over. With Fed President's sending mixed signals about the future of stimulus tapering, yesterday Lockhart of Atlanta reported the US economy is losing steam and stimulus measures should continue. We are cynical and feel the market is addicted to the stimulus measures and will be around ins some form for many more months, and will only disappear when the Fed believes the effect on the stock market, will be minimal.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Drops for Third Day on Concern About U.S. Budget Clash - more
  • LME Morning - Base metals prices weak amid US uncertainty - more

  Reports

  • Outokumpu Nirosta October Stainless Steel Surcharge - pdf here
  • AK Steel October Stainless Steel Surcharge - pdf here
  • Allegheny Ludlum October Stainless Steel Surcharge - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.07
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (MBN) Brazil's nickel output jumps 27% in August; zinc up 5.3%
  • Indonesia Vows to Stick With Tin Trade Policy as Prices Jump - more
  • Russia can afford to keep Putin's social promises - more
  • Both tropical Pacific and Indian oceans neutral  - more

     Vietnam Considers Removing Tax on Stainless Steel Scrap Exports - Vietnam’s Ministry of Industry and Trade (MoIT) has proposed a policy to remove a 15 percent tax on the export of stainless steel scrap from Vietnam, according to published reports. - more

    Anglo American Sees Barro Alto Nickel Output Cut Until Mid-2016 - Anglo American Plc, the mining company with operations from Australia to Brazil, expects output at its biggest nickel project to remain curtailed until mid-2016 as it rebuilds two furnaces to fix design problems. - more

    Courtesy AISI - In the week ending September 21, 2013, domestic raw steel production was 1,877,000 net tons while the capability utilization rate was 78.3 percent. Production was 1,751,000 net tons in the week ending September 21, 2012, while the capability utilization then was 70.4 percent. The current week production represents a 7.2 percent increase from the same period in the previous year. Production for the week ending September 21, 2013 is up 1.8 percent from the previous week ending September 14, 2013 when production was 1,843,000 net tons and the rate of capability utilization was 76.9 percent.

  Morning Nickel Price Statistics & Figures

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

Monday, September 23

  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 $6.37/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metal trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses rose to its tenth record high this month and now totals 219,786 tonnes. Cancelled warrants area t record highs as well and skate around the 20% level each day. China is back to work today and according to a flash PMI survey issued by HSBC, they are slowly getting busier. The spike in nickel prices after the surprise announcement by the US Fed last week, did not last very long, and the traded price has nearly returned to where it was trading the day prior to the announcement. With stockpiles at record levels, and increasing nearly daily, it will take a lot more than positive news from China to put nickel prices in a positive trend. More mines will have to stop producing before we will see stockpiles level off and start to recede. So far, that isn't happening and the cycle continues. In the mean time, prices will continue to falter.
  • Average price of cash nickel so far this month - $6.25/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls a Second Day on Concern About U.S. Economic Outlook - more
  • LME Morning - Base metal price weakness continues, data shrugged off - more

  Reports

  • Worldsteel Monthly Statistics for August 2013 - pdf here
  • Oryx Stainless - Just where exactly, is the economic advantage? - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.30
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (CSJ) China's manufacturing activities rose to a six-month high in September, according to a preliminary survey from HSBC. The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for September rose to 51.2, the highest level since April and up from 50.1 in August, according to figures released by HSBC on Monday.
  • (MF) Taigang Stainless cuts stainless steel export prices for September

    China Nickel Imports and Exports Data August 2013 - The General Administration of China Customs released data of China's August imports and exports of nickel on September. 23st(Unit: mt) - more

    SA - Stainless change in Europe to hit demand for SA ferrochrome - Demand for South African ferrochrome into Europe will decline as the European stainless steel industry is in full consolidation mode and companies are forced to keep operations as efficient as possible, Outokumpu Chrome VP ferrochrome sales Mauri Kauppi said. - more

    Chrome ore prices shoot up 16% in OMC e-auction - High grade chrome ore rates went up to Rs 14,522 per tonne in the e-auction of the Odisha Mining Corporation (OMC) from Rs 12,037 a tonne quoted in the August auction. Buyers said prices moved up as the state-run miner had limited stocks this time. - more

    Molybdenum oxide slips below $9.30 on pressure from weak market fundamentals - Molybdenum oxide prices slipped below $9.30/lb Thursday, as sources reported lower offers and bids as well a sale concluded in Europe in a quiet market. - more

    Fed leaves banks hanging as commodity asset deadline passes - The future of Goldman Sachs' and Morgan Stanley's commodity businesses faces even greater uncertainty after a key deadline for them to conform their physical trading to U.S. regulations expired at the weekend without word from the Federal Reserve. - more

    Talks to sell ThyssenKrupp's Brazil site could collapse-source - German steelmaker ThyssenKrupp may walk away from talks over the sale of its Brazil plant, part of its loss-making Steel Americas business, a person familiar with the matter told Reuters on Monday. - more

  Morning Nickel Price Statistics & Figures

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

Friday, September 20

  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 $6.53/lb . Indicators at 7:15 am CST today show 3 month nickel trading around $.09/lb lower, with other London traded base metals lower as well. Stockpiles of nickel stored in LME approved warehouses rose to their ninth all time record high this month and now totals 219,246 tonnes. Nickel is backing off yesterday's US Fed monetary policy induced high, but has refused to give back all of the gains. China remains closed for the Moon Festival and will re-open on Monday. Little news this week beside the Fed's action to drive metal traders, and nickel especially is suffering from ever expanding and record level warehouse stockpiles. With a Congress that can accomplish nothing and a US debt limit fast approaching, we expect teh news in coming weeks to be less favorable for US traders, but a weakened Dollar could help commodity traders. Time will tell. Have a restful and safe weekend.
  • Average price of cash nickel so far this month - $6.24/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - London copper eyes biggest weekly climb in a year - more
  • LME Morning - Base metals consolidate gains as wider markets pull back - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 83.58
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more

    Prices of CR Austenitic Stainless Sheets in Asia Rise to $2,550 CFR Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian region are rising further to $2,550 CFR - more

    Canadian Companies: Why Is This OSC Decision In The HudBay Case Important For Your Foreign Operations? - A July 22, 2013 decision by the Ontario Supreme Court in Choc v. Hudbay Minerals Inc. is an important reminder to Canadian companies with foreign operations. Here's why. - more

    Taiwanese steelmaker YUSCO interested in Italian steel plant - Taiwan's Yieh United Steel Corp (YUSCO) may join three other bidders for Outokumpu's Italian stainless steel plant, sources said, in a move that would boost its international presence. - more

    Market Trend of Import of Ferroalloy as of September 13, 2013 =Mo rebounds and Si metal demands price hike= Market trend of imports of ferroalloy as of September 13, 2013 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 19

  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 $6.32/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. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now totals just over 218,350 tonnes. On Tuesday we noted "By not announcing some degree of tapering, the Fed could send a signal that it is not confident in the resilience of the US economy, and send an unintended shock thru the market." Apparently we were correct, but not quite the way we thought. Convince an addict he is going to have to quit and then slip him another baggie, you are going to shock them all right. Into a new high. And traders responded accordingly - even if the economic news that forced the Fed's hand wasn't all that bright. One Marketwatch author was more gentle in his wording "The Federal Reserve kept the punch bowl spiked a little longer in a surprise decision that postponed investors’ day of reckoning." As we have mentioned before, we live in a much different world and traders care less about the economy than to what degree the companies they invest in do today. The decision by the Fed, in our opinion, is due to two things. First the employment picture, while better than before, is not a pretty one. Way too many people are still out of work, way too many people are working part time jobs that want to work full time, and way to many people have simply given up and quit looking. It's easy for the callous to say 'there are plenty of jobs' out there, but there are many hard working and honest people looking for a job. Regrettably, it has taken a sudden job loss and self realization of how the world really operates, for some to lose their callousness toward the unemployed. The second reason may be the industrial production picture. Look at the graph in this Marketwatch article about Fed Ex. (article) Putting aside the up and down shifts from monthly reports, this charts puts the overall US industrial production trend in perspective and gives another snapshot of why commodity purchases are struggling. The bad news economically that the Fed decision hinted at, was good for the Euro, which bounced hard after the news came out and remains higher this morning. This in turn was welcomed by commodity traders, which got, and are getting, a Bernanke bounce from the Fed statement. How long this bounce will last is anyone's guess. But the move is not being motivated by positive economic news. So its staying power is highly questionable.
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Industrial Metals Extend Gains After Fed Holds Economic Stimulus - more
  • LME Morning - Base metals off highs, market digests Fed QE taper delay - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.58
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (SSY) China's daily steel production for 1-10 September edged 0.5% above the level recorded during the last 11 days of August to 2.129 Mt, according to data from the China Iron and Steel Association. Production is up 12% when compared with the same period of last year.
  • CEOs Forecast Continued Slow Economic Growth - more

    Europe's economic rebound to boost industrial metals demand - Increased demand in Europe as it recovers from recession could tip the market balance for some industrial metals, creating small but price-boosting deficits after years of surplus. - more

    UAE And South Africa firm alliance targets global leadership in Ferrochrome exports - UAE based businessman, Mr Alibek Issaev, whose group of companies include growing global software business Dudu Communications, acquired a 50% stake in FerroChrome Furnaces (Pty) Ltd (FCF), a South Africa based producer of low and medium carbon ferrochrome for the export market. - more

  • FCF plans to corner niche market in world ferrochrome - more

    Service Center Shipments Fall Back in August - After an encouraging start to the second half, U.S. service center shipments backslide a bit in August, compared to the previous year, in both steel and aluminum, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. - more

    Intex’s nickel deposit - Intex Resources Philippines Inc. said Wednesday its Mindoro Nickel Project can produce over $40 billion worth of nickel. - more

    Mining petition drive hits all 87 Minn. counties -  A campaign by critics of proposed copper-nickel mining in northern Minnesota says it has gathered petition signatures from all 87 Minnesota counties. - more

    LME’s Martin Abbott to be honoured by BIR - BIR’s upcoming World Recycling Convention in Warsaw will be the backdrop for a special presentation that the Non-Ferrous Metals Division under the presidency of Robert Stein (Alter Trading, USA) will make to Martin Abbott, departing CEO of the London Metal Exchange. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, September 18

  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 $6.27/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses saw a gain that dwarfed the last three days of losses and set a new all time record high of 218,448 tonnes. Markets are mostly higher as traders await for the US Fed to announce whether it will begin tapering of its stimulation measures or not, and to what degree if so. Asian markets ended higher overnight, and China will be closed for the rest of the week for a holiday. European markets are higher this morning and US futures are higher as well. In our opinion, Fed Chairman Ben Bernanke would have to announce a huge and immediate cut in tapering to really jar the markets today, as most are betting on the beginning of a gradual withdrawal. Commodities are getting a slight bump this morning, although we see no real reason for it as the Euro is lower.
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper edges up as investors brace for modest Fed taper - more
  • LME Morning - Base metals range higher, China holiday and FOMC weigh on volumes - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.58
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • (SO) The China Iron and Steel Association (CISA) has announced that in early September (Sept 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 1.7625 million mt, up 1.29 percent compared to late August (August 21-31). Meanwhile, the average aggregate daily crude steel production of all steelmakers in China in early September was estimated at 2.1294 million mt, indicating an increase of 0.48 percent compared with late August.
  • (TSS) The Ontario Ministry of Labour was notified about seismic activity that occurred Monday about 11 a.m. at Nickel Rim South Mine, but the ministry won't be investigating the incident.
  • Is the commodity supercycle dead? - more
  • China cuts coal use, steel capacity in northern regions - more

    China Ferrochrome: Market waits for steelmakers' bid prices - Chinese domestic spot prices of high carbon ferrochrome (50% basis Cr) were unchanged week-on-week at Yuan 6,850-7,000/mt (84.5-86 cents/lb) Wednesday in quiet trading prior to announcements of October purchase prices from major stainless steelmakers and mid-autumn festival holidays in China Thursday to Saturday. - more

    Nickel giant Vale fined $1M over Sudbury mine deaths - Toronto-based Vale Canada Ltd., which owns and operates several mines in the Sudbury area, has been fined more than $1 million after two workers were fatally injured in June 2011. - more

    July Improvement Disappears in August - U.S. and Canadian shipments of both steel and aluminum returned to the year-over-year trend that was experienced earlier this year in contrast to the modest growth displayed last month. - more

    Slow and Steady Wins the Race Says Lundin CEO Conibear - Lundin Mining Corp., the best performer among Canadian base-metal companies, is betting that a cast-off from the world’s second-biggest miner will help double output. - more

    Vale's Manitoba Operations has reached 95 per cent of cost savings goal, Lovro Paulic says - Vale, which is trying to find $100 million in cost savings at its Manitoba Operations in Thompson, has achieved 95 per cent of that goal over the last year – a cost savings of $95 million with $5 million still to go, vice-president Lovro Paulic told the Thompson Chamber of Commerce Sept. 11. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, September 17

  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 $6.29/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME approved warehouses did something it hasn't done since June yesterday - when it dropped for a third consecutive session. It now totals just over 216,300 tonnes. Markets are quiet today as eyes shift to Washington DC and the start of the two day meeting of the US Federal Reserve. Most economists tend to bet the Fed will announce a slight reduction in its asset purchase program  tomorrow. And for a market addicted to, yet resigned to the fact, that this free money from the Fed will gradually end, the withdrawal symptoms appear to be far less than feared - except for emerging markets. The markets have a way of 'influencing' what will happen at these Fed meetings, whether anyone will admit it or not, and a slight tapering appears to have already been priced into the stock market. By not announcing some degree of tapering, the Fed could send a signal that it is not confident in the resilience of the US economy, and send an unintended shock thru the market. Asian markets ended lower overnight, European markets are trading lower this morning, and US futures are flat. We expect the markets to return to their bull run unless the Fed decides to force the markets into a cold turkey taper.
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Declines as U.S. Federal Reserve Starts Policy Meeting - more
  • LME Morning - Base metals ignore euro strength, focus on FOMC - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.58
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (MF) According to data released by Japan’s Ministry of Finance, the country’s stainless steel output totaled 239,450 tons in July, falling by 4.1% month on month and down by 0.5% year on year.
  • (SMM) Prices for high-grade nickel pig iron (NPI) are expected to decline after breaking through 1,000 yuan ($163) per metal unit as London Metal Exchange's nickel prices fell. The prices for high-grade NPI rose above 1,000 yuan per nickel unit at the end of August on supply shortages
  • End to QE to 'split' emerging markets - more

    Thousands again protest Xstrata Nickel’s planned mine - Thousands of people gathered Saturday afternoon at the entrance to the Xstrata Nickel Falcondo’s mining project at La Vega province, backing up traffic for miles on the Duarte highway’s southbound lanes. - more

    Rock blast disrupts Nickel Rim Mine - A rock blast at Sudbury's Nickel Rim mine temporarily shut the mine down Monday, but there were no injuries, said the president of Mine Mill 598. - more

    Chinese steel demand built on a "house of cards" - World Steel Dynamics - Chinese demand for steel may begin to decline within two years as the country seeks to "rebalance" its economy, according to Philipp Englin, director general of information service World Steel Dynamics. - more

    Indonesia's widening deficit takes toll on resource nationalism drive - Indonesian policymakers are scrambling to ease nationalistic resource rules that threaten to slash mining exports from January and potentially widen a current account deficit already at a near-record high. - more

    Largest ore carrier in the world docks for the first time at Pier IV - A new milestone was reached in the construction work at Pier IV of the Ponta da Madeira Terminal in São Luís, Maranhão. - more

    Courtesy AISI - In the week ending September 14, 2013, domestic raw steel production was 1,843,000 net tons while the capability utilization rate was 76.9 percent. Production was 1,751,000 net tons in the week ending September 14, 2012, while the capability utilization then was 70.4 percent. The current week production represents a 5.3 percent increase from the same period in the previous year. Production for the week ending September 14, 2013 is down 1.5 percent from the previous week ending September 7, 2013 when production was 1,872,000 net tons and the rate of capability utilization was 78.1 percent.

  Morning Nickel Price Statistics & Figures

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

Monday, September 16

  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 $6.29/lb . Indicators at 6:50 am CST today show 3 month nickel trading unchanged , with other London traded base metals quietly mixed. Stockpiles of nickel stored in LME approved warehouses fell for a second consecutive session and now total just over the 217,000 tonne level. While commodity trading is mostly non existent so far this week, equity markets are higher. Asia, European and American futures are all higher, or have closed higher to start the week. The controversial Lawrence Summers has withdrawn his name as a potential replacement for Ben Bernanke at the helm of the Federal Reserve. The US economy is showing signs of cooling in some area, which also has traders betting the Fed will limit its tapering expected to be announced later this week. And Russia and the US announced a deal over the Syrian chemical weapons crisis over the weekend. With this trifacto of good news, equity markets around the world are higher. US traders have entered another one of those bullish markets where good news is enthusiastically welcomed as a signal to drive stock higher, while negative news is mostly poo-poohed. For equity traders, the trend is your friend, while for commodities, its al quiet on the western front.
  • Average price of cash nickel so far this month - $6.21/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rebounds From 5-Week Low as Summers Drops Out - more
  • LME Morning - Metals rangebound ahead of FOMC meeting - more

  Reports

  • Gerdau Steel Market indicators - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.60
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (ARM) According to Business Day, ARM is anticipated to buy the 50% stake in Nkomati Nickel currently on sale by Russia's Norilsk Nickel. Nkomati is a 50-50 joint venture between Norilsk and ARM thus giving ARm right of first refusal on Norilsk's 50% shareholding. However, ARM could not elaborate further on their plans.

    Russian metal giants pause Australian activity - According to official Russian statistics, in the first three months of 2013 trade turnover fell by almost 40 per cent to $US 227 million, compared to the same period in 2012. - more

    Atlas seeks higher copper production - Atlas Consolidated Mining and Development Corp. said over the weekend it plans to increase copper production this year to 100 million pounds from last year’s 90 million pounds. - more

     100 Years of Stainless Steel in Maastricht - The International Stainless Steel Forum, its members and its partners would like to invite you to the 100 Years of Stainless Steel exhibition from 12 to 14 November 2013 at the Stainless Steel World Conference and Expo in Maastricht. - more

  Morning Nickel Price Statistics & Figures

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

Friday, September 13

  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 $6.23/lb . Indicators at 7:20 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading mixed and mostly quietly. Stockpiles of nickel took a slight dip yesterday, for only the third time this month, and ended just over the 217,400 tonne level. Markets are waiting for retail sales and consumer confidence numbers out of the US today, but in the mean time, they are speculating with their trades o what the Fed may or may not do next week at its monthly Fed meeting. Tapering of the all important Fed easing is on the minds of all, and the addicted market is not sure what will happen during the withdrawal symptoms. Nickel has little to trade on, and with little current market news besides a growing stockpile, traders are looking to what Indonesia may or may not do in January, in regards to the possible ban of nickel ore to China. Cancelled warrants have been in the 20% range over the last week, surprising because stockpiles seem to hit a new all time record high on a daily basis now. If the news out of the US is negative, we may see a bump in the Euro which would help nickel recover on the day. Have a safe and relaxing weekend! 
  • Average price of cash nickel so far this month - $6.22/lb
  • Average cash price of nickel last month - $6.78/lb / average last year - $8.08/lb
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises, Paring Weekly Loss, as Investors Position for Fed - more
  • LME Morning - Base metals prices mostly steady, future of QE 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index - 83.76
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (SMM) Indonesia remains a wild card in regard to its controversial ban on mineral exports from 2014, managing director of Indonesian Nickel Association, Mag. Faisal Emzita, told Shanghai Metals Market in an interview this week. ``To ban in words is different from banning on paper,’’ Emzita said in Shanghai on Tuesday, ``The eastern way means everything is behind closed doors.’’
  • (MB) The Philippines will not be able to meet China's nickel needs if Indonesia bans ore exports in 2014, according to the largest nickel ore producer in Philippines.
  • (AMM) Chinese nickel pig iron prices overtook refined nickel prices thanks to an August rally in which stainless steel mills increased purchases.

    China's spot prices for imported ferrochrome rise as rupee, rand recover - The Chinese spot prices for imported high carbon ferrochrome and charge chrome into China rose this week following a recovery in the Indian rupee and South African rand against the US dollar. - more

    Intex budgets $2.8B for Mindoro nickel project - Intex Resources ASA of Norway has committed to invest $2.8 billion in the development of its flagship Mindoro nickel project. - more

    China's Steel Export in Aug. Showed First-ever Level of 6 Million Tons/Mo. - China's export quantity of steel products (except steel ingots/semi-finished products) in August hit a record high of 6,140 thousand tons (hereinafter abbreviated as t/t). - 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 12

  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 $6.27/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading lower, some sharply. Stockpiles of nickel stored in LME approved warehouses rose for a third consecutive session to an all time record high and now totals 217,650 tonnes. In overnight trading Asian markets ended slightly lower, while European markets are trading lower this morning after a report showed EU industrial production dropped sharply in July. US futures show uncertainty amongst US traders this morning. US markets ended higher again yesterday, as traders apparently rush to 'get it while the gettin' is good'. With debt ceiling talks to begin soon, a potential Syria military strike looming, and most importantly to traders, an inevitable tapering in the future, markets are assured of some volatility in the near future. We would say this could apply to metals as well except traders appear to be less speculative about future supply and demand of commodities, except the more commonly traded by the public, ie oil and gold, silver and copper in metals. Stockpiles of nickel are up 2.6% so far this month alone, and up 44.5% from this date last year. With those inventory numbers in play, we don't expect much more than dead cat bounces in nickel pricing for the remainder of the month.    
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Reaches One-Week Low on Concern About Outlook for Demand - more
  • LME Morning - Base metals lower on tapering fears, Syrian uncertainty - more

  Reports

  • Oryx Stainless Export restrictions for Europe is not an alternative - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.84
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Philippine mining situation at a glance - more
  • (SSY) The world export price of hot rolled band has increased by $7/t over the last two weeks to a 5-month high of $577/t, according to the latest SteelBenchmarker published by World Steel Dynamics.
  • Consumer Reports Index: Americans Report Sharp Rise In Financial Troubles As Sentiment Continues Slide - more

    Goldman Sees China’s Commodity Demand Rebounding to December - Commodity demand in China, the world’s largest user of iron ore, copper and tin, will rebound through the end of the year as infrastructure projects gather pace and users restock, according to Goldman Sachs Group Inc. - more

    China's Stainless Crude Steel Prod. Anticipated to Exceed 25 Mil. Tons by 2020 =This was announced in speech in 8th China Int'l Stainless Steel Congress 2013= The 8th China International Stainless Steel Congress 2013 was held in Shanghai, and it was announced that China's stainless crude steel production is anticipated to exceed 25 million tons by 2020, and also the apparent consumption is anticipated to exceed 20 million tons. - more

    Norilsk Tipped as Possible Uralkali Buyer - Metals giant Norilsk Nickel might buy a 21.7 percent share in the potash producer Uralkali from its major shareholder Suleiman Kerimov, who is seeking to resolve a conflict with the Belarussian government, a news report said Wednesday. - more

    Norilsk Board Approves Strategy Review to Sell Overseas Mines - OAO GMK Norilsk Nickel, the world’s largest producer of nickel and palladium, plans to sell international assets to focus on profitable mines in northern Russia, according to a strategy review agreed by its board. - more

    Cliffs Natural Resources rebuffed - Developing the mineral-rich Ring of Fire area of Northwestern Ontario could be pushed back years if Cliffs Natural Resources appeals a ruling by the Ontario Mining and Lands Commissioner, a mining rival suggested Wednesday. - more

    Alcoa Urges LME to Improve Transparency for Clear Aluminum Price-Setting and to Enable Premium Hedging for Price Risk Management - Alcoa AA -0.12% has submitted a letter to the London Metal Exchange (LME) to comment on proposed warehouse rule changes and to recommend solutions to effectively address the business needs of aluminum producers and consumers. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, September 11

  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 $6.23/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading quietly higher. Stockpiles of nickel stored in LME approved warehouses hit another all time record high yesterday, and now sits at 216,108 tonnes. For those trivia buffs, switch the numbers of today's nickel inventory total, and you can get the total for September 10th, 2012 - 120,816 tonnes. In overnight trading, Asian markets ended slightly lower, European markets continue trading higher today, and US futures show US traders intend to continue their rally today. An off the cuff remark by the US Secretary of State on Monday, has completely changed the coarse of events in Syria and markets around the world have rebounded as the risk for a US military strike has declined. While the Syria issue will not go away until the world decides that Syria and Russia are acting in good faith and allow the disposal of Syria's chemical weapon stockpiles, upcoming market movers include the meeting next week by the US Fed and a potential tapering timetable, and another debt fight in Congress for October. For today, markets look to trade fairly quietly, with nickel no exception...... so far.
  • Average price of cash nickel so far this month - $6.23/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs as Banks Project Stronger Chinese Economic Growth - more
  • LME Morning - Base metals dull, rangebound in quiet conditions - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.05
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (Standard Bank daily report) China’s crude steel output for August YTD reached 521.84mt, up a strong 7.8% y/y, in line with GDP growth, and way beyond CISA’s 3% forecasts.
  • (AMM) Glencore Xstrata Plc will raise its annual nickel output to almost 200,000 tonnes by 2015 from 139,000 tonnes in 2012, it said.
  • China's finished steel exports surged 45% in August this year - more
  • China's crude steel output up 12.8% in Aug - more
  • (US) Small Business Optimism Flat, Down 0.1 Points - more

    Asia stainless steel mills to benefit from Chinese nickel-pig-iron from Indonesia - Chinese firms operating nickel mines in Indonesia are likely to step up plans to build nickel-pig-iron plants in the Southeast Asian country in order to continue shipping ores back home, which would help support higher production in China next year. - more

    Low prices take toll on Cuban nickel revenues - Cuban nickel industry revenues were well below expectations in the first six months of the year, mainly because of low international prices, official radio reported this week. - more

    China Ferrochrome: Domestic prices steady as buyers wait and see - Chinese domestic spot prices of high carbon ferrochrome (50% basis Cr) were steady week on week at Yuan 6,850-7,000/mt (equivalent to 84-86 cents/lb) Wednesday as buying activities were limited by more consumers adopting a wait-and-see attitude, China-based industry sources said. - more

    Canada's TVI Pacific expects revenue from Agusan nickel mine by 2014 - The Canadian company that is digging for nickel in Agusan del Norte said feasibility studies undertaken so far indicate that the project could generate revenue. - more

    Drilling boosts nickel miner Mincor's Kambalda reserves - Nickel miner Mincor Resources says a recent drilling program has increased the ore reserves at its operations in Kambalda. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, September 10

  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 $6.31/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.06/lb lower, with most London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to yet another all time record high on Monday to 215,808 tonnes. That's five new records for the first seven reporting days of September. On more positive economic news from China, Asian markets ended higher, European markets are trading higher, and US futures hint at a higher opening. It is looking less likely President Obama will get Congressional approval for military action against Syria, and an inadvertent remark by Secretary fo State Kerry yesterday has the world scrambling for a potential back door to the immediate crisis. Nickel is not benefiting from the positive news from China and continues to retreat from last week's mini hike. While it appears some of the less profitable nickel mines are trying to hold on till the end of the year, when an expected Indonesia ban on the export of nickel ore could potentially drive prices higher, the continuous rise on stockpiles is going to force the eventual closure in some mines - or the current cycle will continue.
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Retreats as Syria Tension, Fed Tapering Concerns Increase - more
  • LME Morning - Base metals lower, market assess data from China - more

  Reports

  • Damstahl Stainless Steel Report - September 2013 - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.13
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • Glencore Raises Xstrata Cost Savings Estimate to $2 Billion - more
  • Tropical Pacific and Indian oceans both neutral - more

    Korean, Taiwanese Mills Also Raise Domestic Prices of CR Austenitic Stainless Sheets - Following that the major stainless steel mills like Taiyuan Iron & Steel and Baoshan Iron & Steel raised their domestic prices of cold-rolled (CR) austenitic stainless steel sheets by 1,500 CNY ($242) for September shipment, the Korean and Taiwanese mills also set out in succession an increase in prices of CR austenitic ones for September shipment. - more

    SUS Scrap Market in Sept. Continues to Be Firm Following Prior Month =Domestic traders continue to take strong attitude to buy due to decrease in generation of scraps in summer= Currently, the market for nickel-containing stainless steel scrap (SABOT) has continued to rise while carrying over the firm situation during August. - more

    Xstrata Nickel’s Loma Miranda project not a closed case: Mining chief - Nickel mining at Loma Miranda isn’t a closed case, said Mining director Alexander Medina on Sunday, and affirmed that Xstrata Nickel Falcondo will conduct further studies and propose extraction techniques with lower environmental impact to request a new Environment Ministry permit, aimed at extracting 20 million tons of the ore. - more

    China slowdown spells end of big payday for iron ore traders - With China's insatiable appetite for iron ore cooling alongside a slowing economy, once in-demand traders of the steelmaking raw material face a new reality: fewer financial perks and tougher resume requirements. - more

    PNG activist calls for a ban on dumping mining tailings in the sea - An environmental activist in Papua New Guinea has called for a total ban on dumping mining tailings in the sea, calling the practice a “long term death sentence” for local communities. - more

    Russia's Norilsk CEO says to change dividend policy - FT - Russia's Norilsk Nickel , the world's biggest nickel producer, will have to change its dividend policy due to weak metals markets, its chief executive and co-owner Vladimir Potanin said in a newspaper interview on Monday. - more

    Courtesy AISI - In the week ending September 7, 2013, domestic raw steel production was 1,872,000 net tons while the capability utilization rate was 78.1 percent. Production was 1,751,000 net tons in the week ending September 7, 2012, while the capability utilization then was 70.4 percent. The current week production represents a 6.9 percent increase from the same period in the previous year. Production for the week ending September 7, 2013 is up 0.9 percent from the previous week ending August 31, 2013 when production was 1,856,000 net tons and the rate of capability utilization was 77.5 percent.

  Morning Nickel Price Statistics & Figures

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

Monday, September 9

  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 $6.34/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.04/lb lower, with most London traded base metals trading lower, but quietly.Stockpiles of nickel stored in LME approved warehouses fell slightly over the weekend, after hitting an all time record high on Friday of 215,538 tonnes, and now total just under 215,400 tonnes today. Of six reporting days thus far this month, four new all time record highs have been reported. After rising for two days, nickel is lower this morning as positive export news from China is overshadowed by Libyan concerns. The US August employment report issued Friday also did little to clue anyone to any Fed easing date or the degree of the expected tapering. Asian markets ended higher overnight, Europe markets are mostly lower, and US futures are quiet. The US Senate may vote as early as Wednesday about Syria and the US Fed meets next week. Expect some volatility in nickel trading over the next few weeks. The short term trend to nickel trading is neutral to positive ,while mid and long term trends remain negative.  
  • Average price of cash nickel so far this month - $6.22/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - London copper up more than 2 pct after upbeat China data; rally sold - more
  • Bloomberg metals morning - Copper Rises for Third Day as Chinese Exports Exceed Estimates - more
  • LME Morning -  Base metals mostly higher on Chinese data - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.17
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (WSJ) Russia's Norilsk Nickel, the world's largest nickel and palladium producer, is looking to exit its Australian mine assets and has hired Citigroup to handle the sale. - more
  • Shipping Index Surges Most Since 2010 as Ore and Grains Climb - “We’ve seen pretty large amounts of iron ore, coal, grains and mineral cargoes including nickel ore,” said Jeffrey Landsberg, the New York-based managing director of Commodore Research & Consultancy, an adviser to ship owners. “That’s helping freight rates across the board.” - more
  • International stainless steel exposition in Shanghai - more
  • CRONIMET heads for Singapore - more
  • Sundram Fasteners to leverage US exports for growth - more

    Outokumpu Asia President: China A "Growth Engine" for Global Stainless Steel Market - China's goal to become a consumption-driven economy will lead to sustained demand growth for the global stainless steel market, said a top executive from the world's largest stainless steel producer, Outokumpu Oyi - more

    $1.6-B mining venture sets commercial start - A Japanese-Philippine nickel project in northeastern Mindanao -- touted to be the biggest mining investment in the country, so far -- is scheduled to start commercial production next quarter, according to a Sept. 4 statement on the Web site of Sumitomo Metal Mining Company Ltd. (SMM). - more

    Import of SUS Products in July 2013 Is 16,800 Tons =Up by 7% from prior month due to increase in imports from Korea and China= The import quantity of stainless steel products in July 2013 which was compiled by The Japan Iron and Steel Federation based on the trade statistics prepared by the Ministry of Finance was 16,800 tons, up by 7.3% from the prior month (15,658 tons). - more

    Crude SUS Production by Major SUS Mills in July Is 310,071 Tons =Down by 0.5% from prior month= The crude stainless steel production by 7 major stainless steel mills in July 2013 was 310,071 tons, down by 0.5% from the prior month (311,690 tons). - more

    Mining Magnate Palmer in Contention to Be Australia Lawmaker - Australian mining magnate Clive Palmer led the vote count for the lower-house district of Fairfax in his native Queensland state, putting him on course to win a seat in the federal parliament after the Sept. 7 election. - more

     Take a sip and see if it is not poisonous - “I’m here with the real thing and I want you all to take a sip to see if its poisonous.” - more

    Tati Nickel Walks for Charity - For the fourth year running Tati Nickel mine will host its annual Managing Director’s Charity walk next weekend. - more

    Steel firm makes a big difference - China's spectacular growth over the past 30 years has exacted a heavy toll on its environment, and now the country's leaders are seeking to rebalance the quest for economic success and the need for sustainable development. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, September 5

   Due to a medical situation, our next scheduled update will be Monday, September 9th. There will be no update on Friday and we apologize for any inconvenience this may cause. Have a safe and relaxing weekend.

  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 $6.20/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mostly higher. Stockpiles of nickel stored in LME approved warehouses rose to its third all time record high in the four reporting days this month, at 214,386 tonnes. Traders are pushing worries about Libya and US Fed tapering to the side for the time being and markets around the world have ended higher, are trading higher, or appear they will open higher. In the US 10 year treasury yields hit a two year high this morning, which will put some negative pressure on US markets early. Yesterday's auto sales numbers were very positive and traders will look to tomorrow's August employment numbers for more clues on the pace of the Fed's tapering moves, expected to be announced later this month. In the mean time, the economic news remains positive in most areas of the world, and while one can find plenty to be worried about, or negative aspects to just about all the positive news, the truth remains that the world is in economic recovery. It's not fast enough for anyone and some areas of the world are filling it more than others, and some have yet to benefit from it at all. As far as the nickel market goes, while it means far less than it used to, the law of supply and demand is hobbling the nickel market. With nickel hitting an all time high over $20/lb less than a decade ago, and all signs pointing to a commodity boom that would last for years, major investment rolled into building new nickel mines. Most of those mega mines are now producing nickel. In the mean time, the Chinese, once again showing their ingenuity and making due with what they have, turned low content nickel ore, into a viable source. In the beginning the 'experts' dismissed teh so called pig nickel as just an expensive alternative that the Chinese were using to fill a temporary gap in supply. But the supply stuck and now the 'experts' are predicting the price of nickel will benefit when Indonesia bans the export of this ore at years end. It all remains to be seen.
  • Average price of cash nickel so far this month - $6.48/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Tin Heads for Four-Month High on Concern About Limited Supply - more
  • LME Morning - Base metals tread water at low levels, copper stuck under $7,200/t - more

  Reports

  • US Imports 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.36
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more

     Norilsk extends Aussie losses - Russian mining giant Norilsk Nickel has extended its run of losses in Australia, with its major local operating subsidiary booking an after-tax loss of $69.2 million last calendar year. - more

    Steel Is Rallying With Chinese Builders Beating Mills - The fastest Chinese steel output on record is still too slow to meet demand from builders, reducing inventories and driving prices toward a bull market. - more

    U.S., World Crude Steel Production Up in July - World crude steel production in July totaled 132 million metric tons, according to the latest data from the Brussels-based World Steel Association. - more

    Chris Verbiski Turned A Nickel Mine Discovery Into Two Of The Finest Fishing Lodges In The World - The best Atlantic salmon fishing outfit in Labrador–and just possibly in all of North America–was born in the gloaming of Sept. 16, 1993, when two mineral prospectors made the discovery of a lifetime. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, September 4

  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 $6.21/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose to a new record high on Tuesday and now total 213,804 tonnes. One year ago today, these same warehouses held 119,724 tonnes of nickel. In a repeat of yesterday's morning report, Asian markets ended mostly higher overnight, while European equity markets are lower this morning. US futures are lower this morning, with yesterday's decision by House Majority Leader Boehner to support President Obama's call for US military action against Libya shifting yesterday's early morning momentum. Traders have become accustomed to House Republicans playing Congressional spoilers to any of the President't plans and the support from Republican leadership, took the market by surprise. Today, traders are dealing with all the positive economic news from the last few days, and what effect higher interest rates in the US will have on the overall market. Nickel continues to feel the strain of record breaking inventory levels.
  • Average price of cash nickel so far this month - $6.48/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls on Concern U.S. Economy Will Spur Reduced Stimulus - more
  • LME Morning - Metals sag as mood remains cautious, copper under $7,200/t - more

  Reports

  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • Oakvale Daily Market Report - more
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • Weekly Market Report - pdf here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.51
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (MB) Stainless steel producers should sue customers who cancel orders when nickel prices fall, London Metal Exchange ceo Martin Abbott told delegates at Metal Bulletin’s 12th International Stainless and Special Steel Summit in London on Wednesday September 4.
  • (MF) India’s stainless steel production to hit 4 million tons by 2015

    China miner gets control of Rio Tinto mine - China Molybdenum has cleared a key hurdle to taking control of Rio Tinto Northparkes copper mine, with Japan’s Sumitomo Metal Mining and Sumitomo Corp deciding not to match the Chinese miner’s US$820 million (RM2.69 billion) bid. - more

    Courtesy AISI - In the week ending August 31, 2013, domestic raw steel production was 1,856,000 net tons while the capability utilization rate was 77.5 percent. Production was 1,897,000 net tons in the week ending August 31, 2012, while the capability utilization then was 76.3 percent. The current week production represents a 2.2 percent decrease from the same period in the previous year. Production for the week ending August 31, 2013 is down 0.3 percent from the previous week ending August 24, 2013 when production was 1,861,000 net tons and the rate of capability utilization was 77.7 percent.

    Clive Palmer's Qld Nickel threatens legal stoush over Minister Andrew Cripps' nickel refinery claims - Billionaire Clive Palmer's Queensland Nickel says it is considering legal action against the State Government over allegations made about the performance of its Yabulu refinery near Townsville. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, September 3

  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 $6.24/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell off a new record high reported on Monday of 213,378 tonnes and now totals just over 213,250 tonnes. Asian markets closed mostly higher overnight, while European markets are trading lower this morning. US futures are solidly higher after higher production PMI numbers were reported from China and Europe, with US PMI numbers due out today. Of 22 reporting days in August, the LME reported nickel stockpiles in their licensed warehouses rose to new record highs on 11 of them. For September, we are already at 50% with only two days reported. Stockpiles continue to grown but nickel mines apparently are trying to hold on till year end to see if the Indonesia nickel ore ban will kick in, and if so, if its effect on China will have an immediate price reflection. Supply and demand values are working against nickel, while fund investment is timid and quick to fell at signs of trouble. Short term nickel trading remains neutral while mid and long term trends remain negative.
  • Average price of cash nickel so far this month - $6.48/lb
  • Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb / avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Swings Between Gains and Drops on Prospects for Surplus - more
  • LME Morning - Base metals rangebound as caution returns to market - more

  Reports

  • ThyssenKrupp Stainless USA September Stainless Steel Surcharge - 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  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Alpari Global Markets Daily - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.60
  • 2013 Reuters Nickel Price Forecasts - more (World Bank forecast 2013 - $8.16/lb)
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Stainless Steel Daily Scrap Prices - more
  • Gerdua Steel Market Update - more
  • European Debt Crisis Live - more
  • (IBT) HSBC China Manufacturing PMI Rises To 50.1 In August From 47.7 In July, Signaling Expansion In The Sector For The First Time In Four Months
  • (SSY) China's daily steel production for 11-20 August edged down from the first ten days of May to 2.118 Mt, according to data from the China Iron and Steel Association. However, production still remains up by 10% when compared with the same period of last year.
  • (FAN) According to local resources, the stocks of stainless steel products totaled 165,114 tons in the first half of August, falling by 8.49% from the previous 15 days.
  • China's steel industry in crisis  - more
  • Taiwan Fastener Exports Decrease 1% in Q2 - more
  • German Screw & Nut Industry Import and Production Turned Weak in 2012 - more

    North American Stainless - For the month of September 2013, North American Stainless will maintain the fuel surcharge at 33% for stainless flat and long products. The surcharge rate is considered a maximum level for September and will be reviewed monthly.

    Nickel Seen Falling Toward Four-Year Low: Technical Analysis - Nickel, the worst performing industrial metal on the London Metal Exchange this year, may extend its decline toward a four-year low of $13,200 a metric ton, according to technical analysis by Societe Generale SA. - more

    [Korea's Steel Statistics] Demand & Supply Result for Ferroalloys in May 2013 - The actual result of demand and supply for ferroalloys in Korea in May 2013 which was compiled by Korea Iron and Steel Association (KOSA) is as per the table below. - more

    Stainless steel imports to Russia grow - According to SpetsStal's appraisal, the volume of stainless steel imports to Russia in July 2013, if compared with June, rose 18.8% to 22,249 tons (in June – +4.5%). - more

  • Russia's stainless steel exports fell in July - According to SpetsStal's latest appraisal, the volume of stainless steel exports in July 2013, if compared with June, fell 44.3% to 1,929 tons (while in June it rose 60.8%). - more

    Surigao mine facility to open - Second district Rep. Francisco Matugas said Senator Allan Peter Cayetano will represent President Benigno Aquino III on Wednesday to open a mine waste facility of THPAL Nickel Corp. in Surigao del Norte. - more

    Ring of Fire: Strategic Chromite and the Commodity Super-Cycle [Part One of Two] – by Stan Sudol (Sudbury Star – August 30, 2013) - more

  • Ring of Fire: Chromite Crumbs or Stainless Steel for Ontario? [Part Two of Two] – by Stan Sudol (Sudbury Star – August 31, 2013) - more

  Morning Nickel Price Statistics & Figures

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

 August Archives


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