This
page is archived news covering the period of September 2014
If you are looking for current daily market news, please visit
here.
Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Tuesday, September 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $7.56/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading with little change
, with other London
traded base metals trading mostly lower and very quiet. Stockpiles of nickel
stored in LME licensed warehouses rose to another record high yesterday,
adding another 2700 tonnes with a grand total reaching 356,040 tonnes. Bloomberg
and the Wall Street Journal reported nickel entering a bear market yesterday
afternoon. We show weak support at $7.45/lb, but technicals show nickel very
oversold. In the face of stockpiles growing at what might best be described
as an 'out of control' pace, well respected industrial expert and Scotiabank
economist Patricia Mohr is sticking to her guns and forecasting the supply
of nickel will fall next year and the price of nickel will rise to average
$10/lb in 2015. We will let those with the proper training in trading to
define whether nickel is in a bear market or not, but it could be said nickel
has had a problem finding its footing since September 9th, falling from near
$20,000/tonne to below $16,700/tonne yesterday in three weeks. The bulls
had been in a sideways trend since June, and decided to make a run for the
border on the news of the proposed Philippine ban. It was a risky move in
light of the current fundamentals and the gamble failed miserably, throwing
the market into a tailspin and well below the sideways trend it had been
stuck in. And while traders lick their wounds, or count their winning, stainless
steel producers and end users try to figure out where the market is heading
and try to decide the right time to buy.
Average price of cash nickel so far this month - $8.24/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) According to Carey Smith, Research Analyst, Alto Capital, LME nickel
prices are most likely to average around $20,000 per mt in 2015.
(LGMI) Based on the latest statistics from Customs, in August, China exported
255268 tonnes stainless steel flats, down 15.5% when compared with 301969
tonnes in July, while up 43.6% YoY.
Iron Ore Heads for Record Run of Losses on Global Surplus -
more
Iron ore price hits five-year low in poor month for commodities -
more
LME to increase transaction fees as it eyes Asia expansion -
more
Nickel
Heads for Bear Market as Inventories Reach Record - Nickel entered a bear
market as stockpiles reached a record, signaling ample global supplies even
as Indonesia bans its exports of the mined metal. -
more
China's Baosteel
cuts domestic price of 300-series stainless coil - China's Baosteel has cut
its domestic prices of 300-series stainless steel coil by Yuan 300/mt ($49/mt)
for October on lower nickel and spot stainless steel prices, a company official
said on Monday, September 29 -
more
Price
of S. African FeCr Meant for Europe for Oct-Dec Reduced by Cents 4 - On September
23, Merafe Resources Limited, South Africa, a joint venture partner for Glencore
-Merafe Chrome Venture announced on its home page that the benchmark price
of South African charge chrome meant for Europe for shipments from October
to December in 2014 was settled at US Cents 115.0 per lb. -
more
China’s
nickel supply & demand balance to tighten - Mohr - Although LME nickel
prices retreated to US$7.80 per pound in late September, Scotiabank economist
Patricia Mohr forecasts “the supply & demand balance for nickel
in China is still expected to tighten noticeably by early 2015 and we have
maintained our price forecast for 2015 & 2016 at a strong US$10 and US$12
respectively.” -
more
New
Caledonian, Chinese companies plan Vanuatu nickel partnership - The South
Pacific islands of New Caledonia and Vanuatu are studying a plan to jointly
mine and process nickel ores into refined metal to help produce stainless
steel in China. -
more
Sherritt
releases new resource and reserve estimates for Ambatovy nickel project -
Sherritt International Corp. has released new reserve and resource estimates
for the Ambatovy mining project in Madagascar, showing increased economically
viable tonnage but lower nickel and cobalt ore grades. -
more
Courtesy AISI
- In the week ending September 27, 2014, domestic raw steel production was
1,846,000 net tons while the capability utilization rate was 76.7 percent.
Production was 1,875,000 net tons in the week ending September 27, 2013,
while the capability utilization then was 78.3 percent. The current week
production represents a 1.5 percent decrease from the same period in the
previous year. Production for the week ending September 27, 2014 is down
2.4 percent from the previous week ending September 20, 2014 when production
was 1,891,000 net tons and the rate of capability utilization was 78.6 percent.
Bees the
key to mine site rehab - International mining giant Vale has improved on
mine site revegetation in Canada by starting a beekeeping program. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, September 29
Abridged
version due to internet outage
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $7.65/lb
. Indicators
at 9:00 am CST today show 3 month nickel trading around $.11/lb
lower, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Friday and now
total 353,340 tonnes. Stockpiles have risen by 8,544 tonnes in the last two
sessions and if you need an explanation on why the trading price of nickel
is lower, that could potentially give you some explanation. For those who
may be new to this site and who might not be aware of my constant hammering
on the growing stockpile numbers, let me share a few numbers. In September
of last year, LME stockpiles numbers rose by 12,690 tonnes during the month
of September. This was before the Indonesia nickel ore ban. This year, nine
months after that ban was put into place, LME stockpiles numbers have grown
by 24,480 tonnes this month, with a day left. Maybe the speculators are getting
a little nervous in the apparent delay in the 'nickel shortages are coming'.
We apologize for the delay and hopefully our internet is back to stay.
Average price of cash nickel so far this month - $8.29/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
LME Boosts
Fees 34% in First Increase Since 2012 Takeover - The London Metal Exchange,
the world’s biggest metals bourse, raised fees it charges members and
users for the first time since it was acquired in 2012 by Hong Kong Exchanges
& Clearing Ltd. for $2.2 billion. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, September 26
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.86/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose by 3,174 tonnes to hit a new record high
at 347,970 tonnes. Reported LME stockpiles rose by 8,928 tonnes this week
alone. The market continues to act like it did last year, when it was in
a surplus situation, with stockpiles continuing to grow. Only the traded
price is higher, as traders continue to speculate when the market will start
showing evidence it has moved into a deficit situation.The trading chart
show nickel has yet to recover its Wednesday high, but for the week has a
slightly upward trend, in recovery mood after last weeks steep drop bottomed
out on Monday. We anticipate the market will enter into another sideways
pattern, but we have been wrong before. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $8.29/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) China exported 16,284.29 tonnes of other unwrought non-alloy nickel
in July, down 2.05% from June’s, according to China Customs. The imports
still held near the record high, despite of a month-on-month decline.
Nickel price
to average $20,000 mt in 2015 on ore supply tightness: analyst - Nickel prices
on the London Metal Exchange are likely to trade within a range of
$17,000-23,000/mt in 2015, Alto Capital research analyst Carey Smith said
Friday. -
more
Vladimir
Potanin: 'Business is not a sport' - Vladimir Potanin, co-owner and
general director of the world’s largest nickel producer, Norilsk Nickel
(Nornickel), and who, according to Forbes, is worth $12.6 billion, spoke
with RBTH about the sale of foreign assets of the company, as well as his
drive to improve the firm’s efficiency. -
more
Mine rubbishes
union safety claims - Tati Nickel Mining Company (TNMC) has rubbished claims
by the Botswana Mine Workers Union that the mine had neglected safety standards
following weekend accident in which one person died. Unconfirmed reports
indicate that the deceased died after he was hit by a rock.-
more
Plants Can Be Mined for Metal - Future generations of miners could harvest
metals from trees, capitalizing on the ability of some plants to isolate
and accumulate metals in their shoots. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, September 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $7.93/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose again - to another all time record high -
at 344,796 tonnes. Nickel, as well as other base metals, are trading lower
this morning mainly because the Euro is trading at a 2 year low against the
US Dollar. The stronger the Dollar, the less attractive commodity investments
become. Some news media is reporting that the bump in nickel price on Tuesday
came from a report that an official in Indonesia confirmed that country has
no plans to change its nickel ore ban. We believe this is hogwash, since
the newly elected President of Indonesia has already told the world the very
same thing. Nickel had dropped too far, too fast the prior week, and we are
simply seeing the market find its footing, which it did at $17,000/tonne.
As we have reported on numerous occasions here, the media likes a reason
to explain everything, and on many days, there is no real reason to point
a finger at - so they stretch the imagination with their reasoning.
Average price of cash nickel so far this month - $8.32/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Bloomberg 9/23) Edi Prasodjo, a director at the Energy and Mineral Resources
Ministry, told a conference in Jakarta that the country was at the “point
of no return” on the policy [nickel ore ban], implemented in January
to help develop domestic smelting. Nickel will probably advance next year
as the rule boosts costs and the market shifts to a supply deficit, Jim Lennon,
a senior consultant to Macquarie Group Ltd., said at the gathering.
(SSY) The Chinese domestic price for hot rolled band (HRB) dropped sharply
in the two weeks to 22 September to $418/t, down $18/t, according to the
latest SteelBenchmarker from World Steel Dynamics. This is its lowest level
since mid-October 2009.
China throws
cold water on nickel bulls - It is now a full eight months since Indonesia
turned off the supply of nickel ore to China's giant nickel pig iron sector.
-
more
LME Molybdenum
Price Drops Sharply = Partly because of WTO's correction recommendation =
LME molybdenum price (cash seller and settlement) dropped sharply to US$26,500
per ton (= US$12.02 per lb) on September 17. -
more
BHP boss
earns $US8m during cost drive - BHP Billiton boss Andrew Mackenzie earned
$US8 million in the 2014 financial year, but he will have his salary frozen
amid the resources giant's cost cutting campaign. -
more
Miner
killed in freak accident - Shoddy safety measures have come under fire at
Tati Nickel Mining Company (TNMC) following the death of a 27-year old miner.
Mining
battle ends, Court rejects Sumitomo bid - The High Court has rejected a bid
Japanese mining giant Sumitomo Ltd brought against Australian firm Axiom
Ltd, the national government, and some Isabel landowners. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, September 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $7.79/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.04/lb
higher, with other
London traded base metals trading mostly higher; only copper lagging this
morning. Stockpiles of nickel stored in LME licensed warehouses rose to another
record high, and now total 343,384 tonnes. It appears the bounce is holding,
which puts a new line of support at $17,000/tonne ($7.71/lb). The short term
trend remains bearish, but from a technical analysis, stochastic and RSI
numbers show the market is seriously oversold and has more room to recoup
some of Monday's nosedive. According to reports from Lundin, the US will
soon have a producing nicjkel mine with operations at the Eagle Mine firing
up.
Average price of cash nickel so far this month - $8.35/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Leon Westgate Standard Bank 9/23) Aside from the brief flurry of optimism
following the announcement that the Philippines might follow Indonesia in
banning unprocessed ore, the market has become rather bored with nickel and
its bull story, with the trade of H1-14 (or rather March-May) now struggling
for an audience. Nickel has undoubtedly got some bullish factors going for
it and, once the laterite ore stockpile is worked through, those fundamentals
should start to be felt and prices will likely react accordingly. It remains,
however, a rather slow burn. -
more
(SMM) China imported 5.33 million tonnes of nickel ore from the Philippines
in August, according to China Customs. The imports in August were up from
5.01 million tonnes in July, and also up from 2.85 million tonnes a year
ago.
(MP) China refined nickel imports down 32.88% in August 2014
Iron Ore Price Outlook Cut Again by Australia on Supplies -
more
China
throws cold water on nickel bulls: Andy Home - It's now a full eight months
since Indonesia turned off the supply of nickel ore to China's giant nickel
pig iron (NPI) sector. -
more
Goldman Sees
Nickel Support at $17,000 on Slowing Inventory Gain - Nickel is strongly
supported at $17,000 a metric ton as a result of slowing stockpile gains,
refined metal trading at a discount to nickel pig iron and squeezed NPI margins,
according to Goldman Sachs Group Inc. -
more
Nickel price
drop to have minimal impact on suppliers - A recent drop in the price of
nickel should not have a major impact on Sudbury's mining supply and services
sector, said the executive director of the Sudbury Area Mining Supply and
Service Association. -
more
Four charged
in Finland toxic leak - Four persons representing the Talvivaara nickel mine
were indicted on Monday by the Eastern Finland public prosecutor. -
more
Axiom wins
long battle to develop Solomons nickel - Tiny Australian prospector Axiom
Mining has won a three-year court battle against Japanese giant Sumitomo
Metal Mining to exploit a major nickel discovery in the South Pacific's Solomon
Islands left idle for more than half a century. -
more
Operations
begin at new Upper Peninsula mine - Operations have begun at a nickel and
copper mine in the Upper Peninsula following a 12-year legal and political
struggle. -
more
Mine-Loving Dominican Republic Leader Scoffs At Nature Preserve - Some 80%
of the Dominican Republic's fresh water comes from Loma Miranda, a mountainous
area that the late dictator Rafael Trujillo sold in the 1950s to Falconbridge,
a Canadian mining firm that used the land to extract nickel and ferronickel.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, September 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $7.70/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.10/lb
higher, with other
London traded base metals trading mostly higher. After taking a few days
off, stockpiles of nickel stored in LME approved warehouses resumed setting
all time record highs, with todays reading at 341,364 tonnes. The price of
nickel tumbled over 3-1/2% yesterday, but traders were able to hold onto
the $17,000 tonne level, a five month low. Markets are higher today,
on positive Chinese economic news, but we will have to see if the bounce
turns into something with staying power. We put the next line of support
for nickel around $7.57/lb. Traders were apparently taken by surprise yesterday
by the amount of nickel ore China imported from the Philippines, which in
itself surprises us, because the Chinese have proven time and time again
their resilience in the face of adversity. The Indonesia export ban may have
put a crimp in their supply, but they will figure out away and the Philippines
is the easiest avenue, but not the only one they are pursuing.
Average price of cash nickel so far this month - $8.39/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel to
Advance in 2015 on Shift to Deficit - Nickel will probably advance next year
as Indonesia’s ban on ore exports boosts processing costs and the global
market shifts to a deficit, according to Jim Lennon, a senior consultant
to Macquarie Group. -
more
August 2014
crude steel production - World crude steel production for the 65 countries
reporting to the World Steel Association (worldsteel) was 135 million tonnes
(Mt) in August 2014, an increase of 1.4% compared to August 2013. -
more
China Nickel
Imports and Exports Data August 2014 - The General Administration of China
Customs released data of China's August imports and exports of nickel on
Sep.21 (Unit: mt) -
more
Four charged
in Talvivaara toxic leak case - Four persons representing the Talvivaara
nickel mine were indicted on Monday by the Eastern Finland public prosecutor.
-
more
Canada’s
Nunavik to be first commercial vessel to transit Northwest Passage unescorted
- Fednav, a Canadian-owned company and world leader in Arctic navigation,
announced that its vessel, the MV Nunavik sailed from Deception Bay en route
to China via Canada's Northwest Passage, with a full cargo of nickel concentrate.
- more
The iron
ore industry is headed for a brutal shakeout as prices collapse - A bloodbath
in iron-ore prices could get much uglier before things turn around. And
it’s not all China’s fault, either. -
more
Courtesy AISI
- In the week ending September 20, 2014, domestic raw steel production was
1,891,000 net tons while the capability utilization rate was 78.6 percent.
Production was 1,875,000 net tons in the week ending September 20, 2013,
while the capability utilization then was 78.3 percent. The current week
production represents a 0.9 percent increase from the same period in the
previous year. Production for the week ending September 20, 2014 is up 0.5
percent from the previous week ending September 13, 2014 when production
was 1,882,000 net tons and the rate of capability utilization was 78.2 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, September 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $8.06/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.25/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses slipped slightly on Friday and still totals just
over the 339,000 tonne level. Nickel is trading below another level of support
at $7.85/lb this morning and appears to be in trouble. For much of last week,
nickel seemed to be using the $8/lb level as a potential base point to find
a new sideways trendline, but that has now failed. We find the timing of
this correction interesting. While SMM reports nickel ore stockpiles held
at Chinese ports grew again last week, we are entering a period where shipments
to China from the Philippines becomes more difficult due to weather, and
thus we may finally see these port numbers start to fall. For traders
who have been betting for months, that analyst forecasts of deficits were
right around the corner, to decide now as a good time to bail out of the
market, is puzzling. Then again, most traders have been trained never buck
the trend no matter what their personal convictions might be. And since early
last week, the trend for nickel has been bearish. Stainless steel producers
are entering one of those confused periods - when they welcome the lower
nickel costs, but wonder how long it will last - and how low it might go.
Buying on the wrong side of the traded price can cost a stainless producer
much more than an investor.
Average price of cash nickel so far this month - $8.43/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) Nickel ore stocks at China’s top five ports reached up to 15.16
million tonnes last week, up 216,000 tonnes on a weekly basis, Shanghai Metals
Market data shows.
Production
of Stainless Steel Products in June 2014 Is 255,071 Tons = Up by 6% from
prior month, and production of both Ni-type and Cr-type recovers = The Ministry
of Economy, Trade and Industry announced the production volume of stainless
steel products (hot-rolled products) in June 2014 was 255,071 tons, which
represented an increase of 6.1% versus the prior month and an increase of
2.1% versus the year-earlier month. -
more
No
interest in nickel smelter from Vanuatu Govt - Vanuatu's government has ruled
out a reported project to build a nickel plant in Santo. -
more
Vanuatu dismisses reported nickel deal in Santo - The Vanuatu government
has poured cold water on reports of a deal between a New Caledonian and a
Chinese company to build a one-billion US dollar nickel plant in Vanuatu.
-
more
Fednav vessel
sails for China from Quebec unescorted via Northwest Passage - A Fednav vessel
is set to make the first independent passage of the Arctic Northwest passage
shipping a cargo of nickel concentrate from Northern Quebec to China. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, September 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$8.12/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. Stockpiles of nickel stored in LME
approved warehouses fell for only the fourth time this month, and total just
under the 339,050 level. Base metal markets have been quiet so far today,
with little economic news to drive it one way or the other. The short term
trend for nickel remains bearish, while the mid term looks neutral and long
term remains bullish. Equity markets have been in a fairly good mood since
Wednesday's announcement that the Fed wouldn't be charging banks to borrow
money anytime soon. The Fed is so nervous about a repeat of the 1937-38 stall
in the recovery from the Great Depression, that it appears it has no idea
how to get out of the freebie give away game and as long as inflation stays
in check, the retirees and savers, who are seeing no return on their savings,
appear to have little to say compared to the big banks and Wall Street.
Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $8.46/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
Philippine
Power No Bar to Ore-Export Ban, Lawmaker Says - The Philippines can build
the electricity capacity needed to process minerals domestically if a ban
on ore exports by 2021 is enforced, according to a lawmaker proposing the
bill to congress. -
more
Market Trend
of Import of Ferroalloy as of 12 September 2014 = Price of Si metal surges,
and negotiation on FeCr for quarterly portion will start after 16th = The
market trend of import of ferroalloy as of 12 September 2014 is as follows.
-
more
Indonesia’s raw ore export ban – eight months on - The Indonesian
Government continues to vacillate between waving a stick and dangling a carrot
to encourage compliance with the controversial raw ore export ban, which
came into effect in January 2014. -
more
Minnesota Poll:
Support slipping for PolyMet project - Support among Minnesotans for
a proposed copper and nickel mine in the state’s northeast corner is
slumping, according to a Star Tribune Minnesota poll. -
more
Miner doing
‘local’ census - A team from Ramu NiCo’s community affairs
department has been visiting remote villages of the project areas to conduct
population census survey, the miner says. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Thursday, September 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $8.19/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
licensed warehouses rose to another record high on Wednesday and now total
339,288 tonnes. We show nickel closed below our support level of $8.28/lb
for the first time yesterday, and is in danger of closing below it again
today. A second close below strong support could send a bearish signal to
the market, with the next support level at $7.85/lb. Our gut feeling is that
nickel is trying to find a new sideways range to trade in, and is feeling
out a base to trade from. And while nickel is trading lower than it has since
June, the average price of nickel this month remains above August levels.
Average price of cash nickel so far this month - $8.49/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Yieh) It is reported that Vale is likely to become the global biggest nickel
supplier in the next two to three quarters.
(MP) China ferro-nickel imports up 64.86% in July 2014
(SSY) Daily crude steel output at China Iron and Steel Association member
mills rose to 1.795 Mt in the first 10 days of September, according to data
from the industry body reported by SteelFirst.
Stainless steel production reaches 20.9 million metric tons in the First
Half Year of 2014 - The International Stainless Steel Forum (ISSF) has released
figures for HY1 2014 showing that stainless steel melt shop production increased
by 10.6% year–on–year to 20.9 million metric tons (mmt). Production
increased in all regions except for Central and Eastern Europe. -
more
Proposed
ore export ban needs further study - groups - Miners want a closer look at
a measure filed last month at the Senate that seeks to effectively ban exports
of unprocessed mineral ore from the country, officials yesterday said. -
more
Service
Center Shipments Stall in August - Steel and aluminum shipments by service
centers in the U.S. and Canada were flat to down slightly in August, reports
the Metals Service Center Institute, Rolling Meadows, Ill. -
more
Multiple
hurdles still facing Chinese owners of Ramu mine - MCC is still facing multiple
hurdles in its attempts to increase production at its troubled Ramu mine
which was recently shut by local landowners angered by the lack of benefits
and environmental damage. -
more
Perfect
Policy Storm Causes High Nickel Prices - Back in March, I told Wall Street
Daily readers that the stars were aligned for a nickel bull market. Sure
enough, nickel became a commodities standout this year. It’s up about
40% so far in 2014 at $19,400 per metric ton. -
more
LME Ni
Price Drops back As Fear on Philippines' Export Ban Eliminated = It takes
2 years this bill will be enforced, and grace period for enforcement is 5
years = LME nickel price drastically dropped on 9th and 10th of September.
This is because the demand and supply for nickel is judged as not being affected
in a short term due to the prediction that the bill on Philippines' export
ban on ores won't be enforced immediately. -
more
Deripaska’s En+ Sees Norilsk Spinoff Prompting Rusal Payout - Billionaire
Oleg Deripaska’s En+ Group Ltd. said it may discuss spinning off United
Co. Rusal’s stake in OAO GMK Norilsk Nickel as a step toward the aluminum
producer resuming paying dividends. -
more
The World
Without Metals (courtesy of Swiss Metal Assets) -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, September 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $8.30/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.12/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses rose to another all tie record high on Tuesday
and now totals 337,992 tonnes. Nickel was in trouble yesterday, trading below
major support, when news came that China's central bank had taken steps to
stimulate that economy. As the world's largest consumer of nickel, this $81
billion Dollar injection was seen as positive, and with a lower US Dollar,
nickel shot higher, with most of the gains coming in after market trading.
Metals are back down today, as the after market gains were seen as overdrawn,
in light of expected news today that the world's largest economy will step
back further from their economic stimulus measures - ie, the US Fed. In our
opinion, while traders are encouraged by the stimulus measures that China
is taking , they are also discouraged by the fact China felt the need to
take this measure. There is still a lot of mystery surrounding what
is actually going on in China and economic reports are met with suspicion
in many cases. So the stimulus measures taken yesterday, along with a constantly
growing inventory of nickel, are putting a heavy drag on nickel bulls. So
far this morning, nickel is back to trading below the July-August trading
range, and below major support. Technical signals are mixed, with RSI and
Stochastic showing the market is oversold, but momentum and other signals
sending negative signals. The next few days could be interesting, as shorts
try to take advantage of a move by the bulls, that evaporated as quickly
as it started. Stay tuned.
Average price of cash nickel so far this month - $8.52/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MP) China ferro-nickel imports up 64.86% in July 2014
(SO) CISA mills' average daily crude steel output up sharply in early Sept
U.S. Export
of Nickel Scrap in July 2014 = Slightly up from prior month, and increased
export to UK is balanced out by decreased exports to others = According to
the statistics released by the U. S. Department of Commerce, the export result
of nickel scrap in July 2014 was 2,335 tons, slightly up by 0.5 tons from
2,334 tons of the prior month. -
more
Here's
What We Know About The Speculation Glencore Is Eyeing Off A Rio Tinto Takeover
- There’s talk about Rio Tinto being a takeover target for Glencore.
Here’s what we know. -
more
Iron
Ore Seen Stabilizing by Top Shipper as Mines Close Down - Iron ore mine closures
around the world spurred by prices at a five-year low will help the raw material
to level out even as Australia’s suppliers increase capacity further,
the government forecaster in the largest exporter said one week before updating
its global forecasts. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, September 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $8.30/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses rose to another record high on Monday,
now totaling 337,044 tonnes. So far this month, stockpiles have grown by
7,908 tonnes. This compares to a gain of 4,242 tonnes month to date last
year, with the latter half of September 2013 seeing a big jump in stockpiles.
If this holds true for this year, we could see some more large gains in the
next few weeks. Chinese media reports ore stockpiles continue to grow at
ports in that country, even in the face of a ban of such ore from their primary
supplier, Indonesia. Nickel is trading below a key support line this morning
and at a price level we haven't seen since late June. The US Fed begins a
two day meeting today.
Average price of cash nickel so far this month - $8.55/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) China produced 68.9 Mt of crude steel in August, up 1% both month-on-month
and year-on-year, according to National Bureau of Statistics data.
Cool video: Ceramic head cuts one of the toughest metals in the world -
more
Nickel
falls to three-month low - Nickel dropped to a three-month low on Monday
after inventories hit a record high and weak factory output in China raised
fears about growth in the world's biggest metals consumer. -
more
Nickel
Price Influenced by Export Bans of Indonesia and the Philippines - Nickel
Price Influenced by Export Bans of Indonesia and Philippines the global nickel
price declined 5.1 percent on Tuesday (09/09) after it became known that
the Philippines would not implement a ban on exports of this commodity yet.
-
more
Rio
Tinto touted as Glencore takeover target - Rio Tinto is on Glencore chief
Ivan Glasenberg’s wish list, but a takeover attempt at current prices
would blindsided the market, fund managers say. -
more
Courtesy AISI
- In the week ending September 13, 2014, domestic raw steel production was
1,882,000 net tons while the capability utilization rate was 78.2 percent.
Production was 1,875,000 net tons in the week ending September 13, 2013,
while the capability utilization then was 78.3 percent. The current week
production represents a 0.4 percent increase from the same period in the
previous year. Production for the week ending September 13, 2014 is down
0.2 percent from the previous week ending September 6, 2014 when production
was 1,885,000 net tons and the rate of capability utilization was 78.5 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)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, September 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $8.36/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses rose to another all time record high on Friday
and now total 334,842 tonnes. Cancelled warrants continue to fall, now under
the 24% threshold. We have support at $8.28/lb, which nickel is starting
to test. The continuing fall in the Euro against the Dollar, is also adding
negative pressure on base metals. Little in the way of news today. Chinese
data released on Saturday was rather depressing, with industrial production
slowing from a 9 % YOY expansion rate in July to a 6.9% rate in August. This
week the US Fed meets, and traders will be following this closely. By a margin
of 2 to 1, Chinese metal analysts forecast the price of nickel will fall
this week.
Average price of cash nickel so far this month - $8.58/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) Nickel ore inventories at China’s top five ports – Tianjin,
Rizhao, Lanshan, Lianyungang, and Jingtang – last week reached 14.94
million tonnes, up 161,000 tonnes, Shanghai Metals Market data shows.
(SSY) The world export price for hot rolled band dropped to its lowest level
since early October 2012 at the start of September at $534/t, down $20/t
from late August, according to the latest World Steel Dynamics
Commodities brace for more woe ahead of Fed rate decision -
more
Government
Industrial Strategy for the Metals Sector - The Metals Forum (of which the
BSSA is a member), in conjunction with the Department for Business, Innovation
and Skills (BIS) are moving forward in the process of developing an Industrial
Strategy for Metals. Several key end use sectors such as automotive, oil
and gas, construction and aerospace have already developed their strategies
and they can be found by clicking here. -
more
China's steel
cuts cloud the air for local ore miners - The Chinese government has unveiled
an ambitious plan to rapidly reduce steel production in the next few years
in a bid to help solve the worsening pollution crisis, which is now the No
1 concern for many Chinese citizens. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, September 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$8.34/lb. Indicators
at 7:30 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading mixed and quieter as well. Stockpiles of
nickel stored in LME license warehouses continue to break all time record
highs, setting a new record in today's report at 333,834 tonnes. We apologize
for the lack of a report yesterday. There was a network outage that effected
a large area of the country. Nickel has returned to its August trading range,
and needs to stabilize or it is in danger of slumping below this range, as
momentum evaporates. The strength of the US Dollar against the Euro is adding
additional pressure. On the news front, with the Philippines hot button topic
now taking a back seat, the market has grown quiet.And with that we end the
week and hope to see you back next. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $8.61/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
Nickel Prices
Forecasted to Keep Rising - As debate rages in the Philippines about the
banning of ore exports, nickel prices have been yo-yoing, with concern
fluctuating between panic over stocks and assurances that there is enough
of the metal to go around. -
more
Proposed
Philippines minerals ban spooks nickel: Andy Home - News that the Philippines
was preparing to follow Indonesia in banning exports of unprocessed minerals
caused panic in the London nickel market last week. -
more
Qingdao Port
says 400,000 tonnes of metals involved in financing fraud - Qingdao Port
International said on Friday that about 400,000 tonnes of base metals were
involved in the metals financing fraud. -
more
BHP Spinoff
Set to Lure Investors, Predators on Profit Promise - BHP Billiton Ltd.
(BHP)’s spinoff of discarded assets is forecast to deliver investors
a two-thirds uplift in earnings. This prospect may also tempt predators.
-
more
Commodities
Fall to 5-Year Low With Plenty of Supplies - Commodities fell to a five-year
low on speculation abundant supplies and slowing economic growth outside
of the U.S. will curb demand for raw materials. -
more
Morning Nickel
Inventory and Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Wednesday, September 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $8.56/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.06/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME licensed warehouses fell on Tuesday, for only the third time
this month, and now total just under the 332,000 level. What goes up must
come down would describe nickel trading over the last 5 trading days, with
the gains achieved over 4 prior days, disappearing yesterday in a dizzying
fall. During August, the price of nickel traded mostly between $8.30/lb and
$8.60/lb, with the average official cash price coming in at $8.48/lb for
the month. Last Wednesday, we were still trading in this area, then worries
about a potential ban of Philippine ore spooked the market, and the price
pushed higher. Yesterday, word came that it would be fie years before any
such ban, if it were to take place, would take place. Today, we are back
to trading where we did last month. And while we would dismiss those who
try to explain the last weeks moves in nickel, claiming it was foretold by
technical signals, we do feel technical signals will guide a market without
other markers to steer it. The last week, it was the Philippines news that
took over the market, This week, those fears have evaporated, so technicals
begin to become important again. Technical signals this morning are mostly
negative, with momentum, RSI and stochastic numbers all sending negative
signals. Other short term signals, mostly watched by day traders, are starting
to turn positive, which could mean we saw the depth of today's slide earlier
in the session.
Average price of cash nickel so far this month - $8.67/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China commodity imports send warning signals -
more
(CF) According to data from Ministry of Finance Japan, Japan’s fastener
exports in volume rose 5.4 percent year-on-year to 30,552 tons, and up 10.5
percent over the last month. Export value totaled 26,083.4 million yen, up
5 percent year-on-year, and up 10.4 percent over the last month. The main
consumers of Japan's fasteners were Mainland China, the U.S. and Thailand.
August’s Optimism Index rose 0.4 points to 96.1 making it the second
highest reading since October, 2007. -
more
Nickel
Tumbles Most in 16 Weeks on Philippines Outlook - Nickel prices tumbled 5
percent on speculation that a ban of ore exports won’t occur anytime
soon by the Philippines, the largest supplier to China. Tin dropped to a
13-month low. -
more
Philippine lawmaker eases concerns over metal ore export ban - A Philippine
proposal to ban exports of unprocessed metal ores could take seven years
to implement, its main backer said in comments that eased concerns about
a supply squeeze on China and sent nickel prices skidding. -
more
Vietnam
levies 1st anti-dumping taxes on imported stainless steel - Vietnam levied
anti-dumping taxes on imported stainless steel products from China, China's
Taiwan, Indonesia and Malaysia, which is the first time Vietnam has imposed
anti-dumping duties on imported products. -
more
Debts pile
up, weighing on steelmakers - The first six months of 2014 were not easy
for a slowing Chinese economy. For China's steel companies, times were even
harder. -
more
CODELCO's
Mo Production in Jan-Jun 35.3 Million LBS = Production is grossly up by 45%
from year-earlier period and sales is 27.6 million lbs, up by 17% ditto =
Corporacion Nacional del Cobre (CODELCO), Chile has recently announced the
results of its production and sales in the period from January to June in
2014. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, September 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $9.04/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.18/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses rose to another record high on Monday and now
total 332,142 tonnes. While the base metal complex is lower a sa whole on
a stronger Dollar, which traded at a 14 month high against the Euro earlier
today, nickel is being whacked on news that any potential ore ban in the
Philippines could be years away. This most recent bull run has been based
on the possibility that the Philippines might follow Indonesia with a nickel
ore ban, which could effectively put the Chinese pig iron industry our of
business. And while their is a faction in the Philippines that want to pursue
this course, the likelihood that it would take effect anytime in the near
future, look highly unlikely. Technically, nickel looks bullish again, although
the signal today are mixed. It has closed twice above a major line of resistance
($8.85/lb), sending a bullish signal. Stochastic and RSI numbers are moving,
or are solidly in, overbought territory.
Average price of cash nickel so far this month - $8.65/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China commodity imports send warning signals -
more
(SMM) Russia exported 20,200 tonnes of nickel during the first seven months
of 2014, up 0.5% year-on-year on demand improvement, according to the Federal
Customs Service of Russia.
Philippine
lawmaker sees 5-year grace period before ore export ban - A proposed ban
on exports of unprocessed metal ores from the Philippines should only take
effect five years after legislation to boost mineral processing is put in
place, the proponent of a bill before Congress said on Tuesday. -
more
Glencore
in box seat for Nickel West - Glencore's push to acquire BHP Billiton's unwanted
Nickel West assets could bring a number of abandoned nickel assets into play,
as well as substantially lowering the operating costs at Glencore's existing
operations at Murrin Murrin. -
more
Australia,
Japan and China eye Solomon Islands as nickel court case nears verdict -
High nickel prices and interest from China are raising the stakes in Solomon
Islands as a verdict nears in a court battle between a small Australian mining
company and the Japanese giant, Sumitomo. -
more
Laif
Meidell: Indonesia’s strategy pushes nickel higher - When Indonesia
decided to stop the export of all non processed ore in January, the price
of many industrial metals like nickel began moving higher. Indonesia’s
gamble was that by halting all exports of non processed ore it would create
a world supply shortage, driving metal prices higher. -
more
Courtesy AISI
- In the week ending September 6, 2014, domestic raw steel production was
1,885,000 net tons while the capability utilization rate was 78.4 percent.
Production was 1,875,000 net tons in the week ending September 6, 2013, while
the capability utilization then was 78.3 percent. The current week production
represents a 0.5 percent increase from the same period in the previous year.
Production for the week ending September 6, 2014 is down 1.5 percent from
the previous week ending August 30, 2014 when production was 1,913,000 net
tons and the rate of capability utilization was 79.5 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)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, September 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $8.89/lb. Indicators at
6:45 am CST today show 3 month nickel trading around $.12/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose slightly on Friday, but enough to set a new
all time record high at 332,034 tonnes. Cancelled warrants slipped below
the 25% level for the first time since October of last year. Cancelled warrants
climbed sharply at teh beginning of this year, almost hitting the 50% threshold
back in March and April. Once it became clear the sky was not falling and
any shortfall would not hit the market immediately, cancelled warrants began
to fall. China markets are closed today for mid autumn festival. Two thirds
of Chinese metal analysts polled by a Chinese metals web site are forecasting
the price of nickel will fall this week. We will see.
Average price of cash nickel so far this month - $8.59/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Philippine
committee approves bill banning mineral ore exports - A Philippine bill seeking
a halt to exports of unprocessed mineral ores has been approved at the committee
stage in the lower chamber of Congress, one of two bills aimed at extracting
more value from the country's mineral resources. -
more
High nickel
price raises stakes in Australia-Japan Solomons mining dispute - High nickel
prices and interest from China are raising the stakes in Solomon Islands
as a verdict nears in court action between a small Australian mining company
and Japanese giant Sumitomo. -
more
Avebury
mining hopeful secures offtake deal with Jinchuan Group - Hopes of about
200 new West Coast mining jobs have taken a big step forward. The company
aiming to re-open the Avebury nickel Mine, near Zeehan,has secured on ongoing
offtake agreement with Chinese company Jinchuan Group. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, September 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Thursday's trading session
at $8.78/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME licensed warehouses rose to a new record high on Thursday and
now total 331,992 tonnes. Yesterday's surprise cut in interest rates in the
EU drove the Euro lower, and for the time, appears to have robbed some of
the positive momentum away from this weeks bullish run by nickel. We had
major resistance at $8.70/lb and nickel closed above that once; a second
close above would send a positive technical signal for more upside potential.
Other technical signals include a stochastic reading that has moved into
overbought territory. Nickel is now trading only a little over 10% from where
it traded on May 13th of this year. While the business week was short here
in the States, it was an eventful one for nickel. Have a relaxing weekend
and we will see you next week and learn together what nickel traders have
in store for us.
Average price of cash nickel so far this month - $8.54/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Standard Bank Leon Westgate) Nickel has been the main focus of the market
this morning [Thursday], with the metal trading higher yesterday and continuing
its break upwards this morning. With options declaration rolling off yesterday,
the recent leash that has kept nickel prices compressed looks to have been
released. Yesterday’s reports that a Philippine senator had filed a
bill on an ore export ban have given the metal extra impetus and have attracted
technical buying, in spite of the follow-up comments to the proposed bill
talking in very conciliatory language and emphasising that it will be a slow
process and how not to repeat Indonesian errors. There is no threat of an
imminent ban.
(SSN) Manila: Moves are afoot for the Philippines to follow Indonesia’s
lead and ban mineral ore exports. The environment secretary has backed a
proposal made last month by Senator Paolo Benigno Aquino that would require
all minerals to be processed before export. Indonesia has had a similar law
in effect since January. The Philippines has since replaced Indonesia as
the largest supplier of nickel ore to China, the world’s biggest user.
(MP) China refined nickel imports up 6.32% in July 2014
Nickel
Set for Fifth Weekly Gain on Philippine Supplies - Nickel was poised to advance
for a fifth week on concern ore supply will decline as the Philippines considers
banning exports of unprocessed minerals. -
more
September
Price of Ni SUS Scrap Rebounds and Hovers at JPY185,000/Ton = Markets in
South Korea and Taiwan get calmed down = September purchase price of
nickel-containing stainless steel scrap (SABOT) by Japanese Stainless Steel
mills is JPY185,000 pert ton (delivered at factory) which is prevailing in
the market, and remains unchanged from the end of August. -
more
MCC denies
MP’s claims it has failed to meet obligations - The developers of the
Ramu Nickel project says it has met all its commitments under the project’s
memorandum of agreement-2000. -
more
Why nickel prices are rising - in 200 words or less - Nickel
- mineral found in rock. Ingredient and major pricing factor of most popular
grades of stainless steel. Dug at mine, sent to refinery, nickel extracted.
Nickel sold or stockpiled for later sale. pre 2000 - Rocks containing small
percentage of laterite ore mostly discarded due to expense of extraction.
Post 2000 - China quickly becomes largest consumer of nickel in world. Prices
sky rocket as demand exceeds supply, hitting $23.50/lb in mid 2007. China
looks to 'garbage rock' for extra source and invents 'pig nickel'. China
imports low grade ore from Indonesia and Philippines and 'pig nickel' becomes
a major source of nickel for China, easing their dependence on nickel mines.
Prices drop as pig nickel and new supply from new mines comes online. Price
averages $6.80/lb in 2013. Stockpiles grow. January 2014 - Indonesia stops
exports of ore, cutting off largest supply for China, forcing China to import
more lower grade ore from Philippines. Prices rise on prospects of future
shortages, but stockpiles continue to increase and keep price gains tempered.
September 2014 - A senator in Philippines proposes a similar ore export ban.
If this takes place, it could effectively kill China's pig nickel production
and potentially, put strain on world supply, as China becomes heavily dependent
on mines again. Speculators drive price higher. Stay tuned.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, September 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $8.65/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.16/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME licensed warehouses slipped on Wednesday and now total just
over the 330,700 tonne level. The news yesterday that the Philippines is
considering a ban on the export of nickel ore, after Indonesia did the very
same earlier this year, has helped nickel finally break out of its month
long sideways trend. This could potentially give the bulls the news they
need to drive the price of nickel out of its summer funk, even though any
such action, if it were to be taken, could potentially be years away. China
has grown dependent on low grade laterite ore to feed it's 'pig nickel' business,
and with their primary supply now closed for business, the Philippines has
moved into the position of supplier number one. Cut this source off and the
availability would become so seriously limited, that no one would be in a
position to pick up even a respectable percentage of the slack. China's
production of pig nickel could potentially dry up, or become a minimal factor
on the world stage. Last year, few ever thought any country would dare halt
exports of low grade nickel ore, which nearly a decade ago, was considered
waste material by many mines. Somebody wants to pay for trash rock that no
one else can figure out what to do with? That was a no brainer back then.
But resourceful China figured out how to turn a profit with these rocks,
and now that Indonesia has not only banned their export, but shows no signs
of reversing course, their move has added validation to the new threat now
coming from the Philippines. Many analysts, including those whose opinion
we respect, have their concerns that the market is overreacting to the news.
And while we agree, markets do have a habit of over reacting and we can only
imagine the frustration nickel bulls have been experiencing at the sideways
trend nickel has been in the last few months. So buckle up for the ride higher
- only time will tell if it sticks or not.
Average price of cash nickel so far this month - $8.47/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Philippine
Ore Ban Wins Support While Implementation Far Off - The Philippine government
should move toward banning mineral ore exports, the environment secretary
said today, offering support to a bill proposing restrictions that may threaten
nickel ore supplies to China.
- more
North American
Stainless Press Release - For the month of September 2014, 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.
Tsingshan
eyes first Indonesian nickel pig iron output in Jan - China's Tsingshan Group
expects to start production at its Indonesian nickel pig iron smelter as
soon as January, becoming the second plant to ramp up since the country's
new mineral processing laws came into force at the start of the year. -
more
Market Trend
of Import of Ferroalloy as of 29 August 2014 = Both prices of Mn metal and
Si metal are anticipated to be up in future = The market trend of import
of ferroalloy as of 29 August 2014 is as follows. -
more
BHP looks
at Glencore’s offer for Nickel West holdings - According to the reports,
the offer made by Glencore for Nickel West mine lies between the margins
of 190 million dollars and 230 million dollars. -
more
Why the
Vale-Glencore merger failed - He can only speculate, but a Laurentian University
economist offers several reasons why talks between mining giants Vale SA
and Glencore to merge the companies' Sudbury operations may have broken off.
-
more
PM expresses
concern on treatment of Ramu mine landowners - Prime Minister Peter O’Neill
has expressed concern at the treatment by police towards the landowners of
the Ramu Nickel mine in the Usino-Bundi district, Madang. -
more
Courtesy AISI
- In the week ending August 30, 2014, domestic raw steel production was 1,913,000
net tons while the capability utilization rate was 79.5 percent. Production
was 1,858,000 net tons in the week ending August 30, 2013, while the capability
utilization then was 77.6 percent. The current week production represents
a 3.0 percent increase from the same period in the previous year. Production
for the week ending August 30, 2014 is down 1.0 percent from the previous
week ending August 23, 2014 when production was 1,932,000 net tons and the
rate of capability utilization was 80.3 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, September 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $8.41/lb. Indicators
at 7:50 am CST today show 3 month nickel trading around $.13/lb
higher, with other
London traded base metals trading lower, Stockpiles of nickel stored in LME
licensed warehouses rose to yet another record high on Tuesday and now total
331,068 tonnes. The media is reporting a Philippine senators proposal to
ban all ore exports is adding positive momentum to nickel this morning. Back
to London, as of the first of September, stockpiles of nickel in LME licensed
warehouses have risen by 67,379 tonnes so far this year., This compares to
an increase of 71,688 tonnes YTD in 2013. During September of 2013, stockpiles
grew by an additional 12,690 tonnes. It will be curious to see how this month
compares. We are expecting, along with a bunch of of analysts that are probably
getting anxious, that the growth in nickel stockpiles should start tapering
off. This would only seem logical to fit the coming deficit forecasts most
analysts have made. SMM reports that nickel ore inventories at China’s
five major ports totaled 14.79 million tonnes last week, down 120,000 tonnes
from the previous week, but higher than the 14.72 million tonnes reported
one month earlier. While higher today, nickel remains rangebound
Average price of cash nickel so far this month - $8.44/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Customs Statistics) Japan's Imports of Ferro Alloys in July 2014 -
more
Zambia waives VAT rule for mining firms, other exporters -
more
Glencore says still plans to sell Lonmin stake -
more
$6.70/lb - the average price of nickel forecast for 2014 in Reuters annual
analysts poll back in January
China steel futures slip, traders still wary -
more
London
nickel perks up as Philippine Senator eyes ore export ban - London nickel
firmed on Wednesday, bucking the trend in a largely flat metals market, after
a Philippine senator filed a bill urging a halt to exports of unprocessed
mineral ores. -
more
Nickel supply uncertainty lifts austenitic Stainless Steel prices this year
- The development of world average stainless steel prices has been predominantly
positive over the past twelve months. -
more
Russia’s Norilsk Nickel sells Lake Johnston to Poseidon Nickel - Russian
metals giant Norilsk Nickel has agreed to sell its Australian company Lake
Johnston to a local company Poseidon Nickel at an undisclosed price, the
company said in a statement Wednesday. -
more
Official:
Ramu NiCo pumped in K125m - The country’s nickel and cobalt developer,
Ramu NiCo, has contributed more than K125 million towards the local economy
in the past 12 months, an official says. -
more
MP: Failure of govt, company causes Ramu destruction -
more
Philippine
protesters force mining company to back off - Tension rose on Wednesday morning
after residents of Manicani, a small island in Leyte Gulf in the central
Philippines, formed a human barricade to prevent a mining company from
transporting nickel ore stockpiles off the island. -
more
Dominican president vetoes new national park - A proposal to create a new
national park that would have blocked the expansion of a nickel mine in the
forested mountains of the central Dominican Republic was vetoed Tuesday by
President Danilo Medina. -
more
London
Metal Exchange to push for reform after US judge dismisses suits - The end
of class action lawsuits in the United States against the London Metal Exchange
will open the way for a long-promised reform of the aluminium warehousing
issue and allow the bourse to focus on its expansion in Asia, according to
brokers. -
more
Glencore,
Vale fail to find common ground in Sudbury nickel - One of Canada’s
richest ore bodies will remain divided after talks to combine the Sudbury
nickel operations of Glencore Xstrata PLC and Vale SA fell apart earlier
this year. -
more
Pedal To The
Metal: Mining is on the upswing in the 9th Federal Reserve District - The
city of Hoyt Lakes, Minn., has experienced boom and bust in iron mining.
Founded in the 1950s to house workers at the Erie Mining Co. taconite plant,
the Iron Range community flourished with the industry; in the late 1970s,
20-odd businesses and a shopping mall catered to the needs of well-paid miners
and their families. -
more
Widow of
First Nickel Lockerby mine victim still waits for answers - The widow of
a worker killed in an accident at Sudbury’s Lockerby mine four months
ago said she wants answers after being kept in the dark for too long. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, September 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $8.50/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mostly higher, but quietly. Stockpiles
of nickel stored in LME approved warehouses took a break on Friday and fell
slightly, but rose to a new all time record high yesterday and now totals
330,630 tonnes. A decline in the Chinese manufacturing PMI and increasing
geopolitical risks around the world, are having a dampering affect on commodity
trading. Nickel remains rangebound but is now trading below its 10, 30 and
100 moving day average. While there are a lot of economic reports due out
this week, we don't foresee anything that might shake nickel trading out
of range. Chinese metal analysts are forecasting nickel prices to fall this
week, with over 2/3 predicting the price to fall.
Average price of cash nickel so far this month - $8.426/lb (August)
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(AAS) According to the latest research report by Goldman Sachs, the market
of refined nickel had improved, and the bank believed the refined nickel
price is very likely to move up continuously in 2015, and the price may reach
USD22,000 per ton next year.
(SMM) Norilsk Nickel’s net profit tripled in the first half of this
year, the company said in its first-half 2014 interim financial results.
“We remain bullish on nickel in the medium term assuming that the Indonesian
ban remains in place unaltered”, the company noted in the report.
(SSY) China's official manufacturing Purchasing Managers Index fell for the
first time since February to 51.2 in August, down from a final July reading
of 51.7
Chinese steel, iron ore fall further as traders stay away -
more
Stainless
Crude Steel Production by Major SUS Mills in July 297,339 Tons = Down by
1.5% from prior month due to production curtailment at Kinuura and Kawasaki
= The stainless crude steel production by 6 major stainless steel mills in
July 2014 was 297,339 tons, down by 1.5% from 301,941 tons of the prior month.
-
more
Japan to
Maintain $3,000 CFR of CR Austenitic Sheets for Oct./Nov. Shipt - Negotiations
on cold-rolled (CR) austenitic stainless steel sheets for the Asian region
are expected to start soon for shipment of October/November, and the Japanese
mills seem to maintain $3,000 CFR (on SUS304 basis) in general and to negotiate
focusing on prices. -
more
What’s
Behind the Current Global Commodity Price Slump? - As the year 2014 got underway,
it looked as if commodities in general, and energy, in particular, were headed
for a boom year. -
more
Nickel
West too complex - BHP Billiton chief executive Andrew Mackenzie has for
the first time hinted that Nickel West's reliance on third-party ore feed
was one of the key reasons the Goldfields division was being jettisoned and
will not find a home in its NewCo spin-off. -
more
Indonesian
nickel embargo sends Aneka Tambang south - Shares in Aneka Tambang, Indonesia's
largest nickel producer, fell on Monday after the company reported a net
loss in the January-June period that deepened in the second quarter, confirming
concerns about the impact of a recent ban on ore exports. -
more
Amplats
plans to nearly triple production at sole Zimbabwe mine - Anglo American
Platinum (Amplats) plans to almost triple production at its sole mine in
Zimbabwe even though it still has to be repaid money seized from its bank
accounts by the central bank and is being forced to cede control of the
operation. -
more
Russian
Nickel and Copper Reserve Revealed as Among the Largest in the World - Amur
Minerals Corporation has announced that proved and probable reserves at its
Russian asset at Kun-Manie have increased by 25 percent, making it one of
the world’s largest nickel sulphide projects. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:50 am CST today show 3 month nickel trading with little change
, with other London
traded base metals trading mostly lower and very quiet. Stockpiles of nickel
stored in LME licensed warehouses rose to another record high yesterday,
adding another 2700 tonnes with a grand total reaching 356,040 tonnes. Bloomberg
and the Wall Street Journal reported nickel entering a bear market yesterday
afternoon. We show weak support at $7.45/lb, but technicals show nickel very
oversold. In the face of stockpiles growing at what might best be described
as an 'out of control' pace, well respected industrial expert and Scotiabank
economist Patricia Mohr is sticking to her guns and forecasting the supply
of nickel will fall next year and the price of nickel will rise to average
$10/lb in 2015. We will let those with the proper training in trading to
define whether nickel is in a bear market or not, but it could be said nickel
has had a problem finding its footing since September 9th, falling from near
$20,000/tonne to below $16,700/tonne yesterday in three weeks. The bulls
had been in a sideways trend since June, and decided to make a run for the
border on the news of the proposed Philippine ban. It was a risky move in
light of the current fundamentals and the gamble failed miserably, throwing
the market into a tailspin and well below the sideways trend it had been
stuck in. And while traders lick their wounds, or count their winning, stainless
steel producers and end users try to figure out where the market is heading
and try to decide the right time to buy.
Reports
Commodity/Economic Comments
Nickel
Heads for Bear Market as Inventories Reach Record - Nickel entered a bear
market as stockpiles reached a record, signaling ample global supplies even
as Indonesia bans its exports of the mined metal. -
China's Baosteel
cuts domestic price of 300-series stainless coil - China's Baosteel has cut
its domestic prices of 300-series stainless steel coil by Yuan 300/mt ($49/mt)
for October on lower nickel and spot stainless steel prices, a company official
said on Monday, September 29 -
Price
of S. African FeCr Meant for Europe for Oct-Dec Reduced by Cents 4 - On September
23, Merafe Resources Limited, South Africa, a joint venture partner for Glencore
-Merafe Chrome Venture announced on its home page that the benchmark price
of South African charge chrome meant for Europe for shipments from October
to December in 2014 was settled at US Cents 115.0 per lb. -
China’s
nickel supply & demand balance to tighten - Mohr - Although LME nickel
prices retreated to US$7.80 per pound in late September, Scotiabank economist
Patricia Mohr forecasts “the supply & demand balance for nickel
in China is still expected to tighten noticeably by early 2015 and we have
maintained our price forecast for 2015 & 2016 at a strong US$10 and US$12
respectively.” -
New
Caledonian, Chinese companies plan Vanuatu nickel partnership - The South
Pacific islands of New Caledonia and Vanuatu are studying a plan to jointly
mine and process nickel ores into refined metal to help produce stainless
steel in China. -
Sherritt
releases new resource and reserve estimates for Ambatovy nickel project -
Sherritt International Corp. has released new reserve and resource estimates
for the Ambatovy mining project in Madagascar, showing increased economically
viable tonnage but lower nickel and cobalt ore grades. -
Courtesy AISI
- In the week ending September 27, 2014, domestic raw steel production was
1,846,000 net tons while the capability utilization rate was 76.7 percent.
Production was 1,875,000 net tons in the week ending September 27, 2013,
while the capability utilization then was 78.3 percent. The current week
production represents a 1.5 percent decrease from the same period in the
previous year. Production for the week ending September 27, 2014 is down
2.4 percent from the previous week ending September 20, 2014 when production
was 1,891,000 net tons and the rate of capability utilization was 78.6 percent.
Bees the
key to mine site rehab - International mining giant Vale has improved on
mine site revegetation in Canada by starting a beekeeping program. -
Morning Nickel
Price Statistics & Figures
Abridged
version due to internet outage
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose by 3,174 tonnes to hit a new record high
at 347,970 tonnes. Reported LME stockpiles rose by 8,928 tonnes this week
alone. The market continues to act like it did last year, when it was in
a surplus situation, with stockpiles continuing to grow. Only the traded
price is higher, as traders continue to speculate when the market will start
showing evidence it has moved into a deficit situation.The trading chart
show nickel has yet to recover its Wednesday high, but for the week has a
slightly upward trend, in recovery mood after last weeks steep drop bottomed
out on Monday. We anticipate the market will enter into another sideways
pattern, but we have been wrong before. Have a safe and relaxing weekend.
Vladimir
Potanin: 'Business is not a sport' - Vladimir Potanin, co-owner and
general director of the world’s largest nickel producer, Norilsk Nickel
(Nornickel), and who, according to Forbes, is worth $12.6 billion, spoke
with RBTH about the sale of foreign assets of the company, as well as his
drive to improve the firm’s efficiency. -
Mine rubbishes
union safety claims - Tati Nickel Mining Company (TNMC) has rubbished claims
by the Botswana Mine Workers Union that the mine had neglected safety standards
following weekend accident in which one person died. Unconfirmed reports
indicate that the deceased died after he was hit by a rock.-
Plants Can Be Mined for Metal - Future generations of miners could harvest
metals from trees, capitalizing on the ability of some plants to isolate
and accumulate metals in their shoots. -
BHP boss
earns $US8m during cost drive - BHP Billiton boss Andrew Mackenzie earned
$US8 million in the 2014 financial year, but he will have his salary frozen
amid the resources giant's cost cutting campaign. -
Mining
battle ends, Court rejects Sumitomo bid - The High Court has rejected a bid
Japanese mining giant Sumitomo Ltd brought against Australian firm Axiom
Ltd, the national government, and some Isabel landowners. -
Four charged
in Finland toxic leak - Four persons representing the Talvivaara nickel mine
were indicted on Monday by the Eastern Finland public prosecutor. -
Mine-Loving Dominican Republic Leader Scoffs At Nature Preserve - Some 80%
of the Dominican Republic's fresh water comes from Loma Miranda, a mountainous
area that the late dictator Rafael Trujillo sold in the 1950s to Falconbridge,
a Canadian mining firm that used the land to extract nickel and ferronickel.
-
August 2014
crude steel production - World crude steel production for the 65 countries
reporting to the World Steel Association (worldsteel) was 135 million tonnes
(Mt) in August 2014, an increase of 1.4% compared to August 2013. -
Production
of Stainless Steel Products in June 2014 Is 255,071 Tons = Up by 6% from
prior month, and production of both Ni-type and Cr-type recovers = The Ministry
of Economy, Trade and Industry announced the production volume of stainless
steel products (hot-rolled products) in June 2014 was 255,071 tons, which
represented an increase of 6.1% versus the prior month and an increase of
2.1% versus the year-earlier month. -
Philippine
Power No Bar to Ore-Export Ban, Lawmaker Says - The Philippines can build
the electricity capacity needed to process minerals domestically if a ban
on ore exports by 2021 is enforced, according to a lawmaker proposing the
bill to congress. -
Indonesia’s raw ore export ban – eight months on - The Indonesian
Government continues to vacillate between waving a stick and dangling a carrot
to encourage compliance with the controversial raw ore export ban, which
came into effect in January 2014. -
Miner doing
‘local’ census - A team from Ramu NiCo’s community affairs
department has been visiting remote villages of the project areas to conduct
population census survey, the miner says. -
Deripaska’s En+ Sees Norilsk Spinoff Prompting Rusal Payout - Billionaire
Oleg Deripaska’s En+ Group Ltd. said it may discuss spinning off United
Co. Rusal’s stake in OAO GMK Norilsk Nickel as a step toward the aluminum
producer resuming paying dividends. -
The World
Without Metals (courtesy of Swiss Metal Assets) -
Here's
What We Know About The Speculation Glencore Is Eyeing Off A Rio Tinto Takeover
- There’s talk about Rio Tinto being a takeover target for Glencore.
Here’s what we know. -
Vietnam
levies 1st anti-dumping taxes on imported stainless steel - Vietnam levied
anti-dumping taxes on imported stainless steel products from China, China's
Taiwan, Indonesia and Malaysia, which is the first time Vietnam has imposed
anti-dumping duties on imported products. -
CODELCO's
Mo Production in Jan-Jun 35.3 Million LBS = Production is grossly up by 45%
from year-earlier period and sales is 27.6 million lbs, up by 17% ditto =
Corporacion Nacional del Cobre (CODELCO), Chile has recently announced the
results of its production and sales in the period from January to June in
2014. -
Amplats
plans to nearly triple production at sole Zimbabwe mine - Anglo American
Platinum (Amplats) plans to almost triple production at its sole mine in
Zimbabwe even though it still has to be repaid money seized from its bank
accounts by the central bank and is being forced to cede control of the
operation. -
