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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

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Nickel Prices and Stainless Steel Bolts

Stainless Steel News and Prices

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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Zinc Set for Second Quarterly Advance Amid Shortages - more
  • Reuters metals morning - Copper slips after dollar rally, weak Chinese data - more

  Reports

  • Scotiabank Commodity Price Index - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.83
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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
  • Unlocking the value of the LME - 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Reuters metals morning - Copper falls to near three-month low as dollar gains - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 83.90
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rebounds From 14-Week Low Before Figures on U.S. Growth - more
  • Reuters morning - Copper up but eyes weekly loss on expected supply surge - 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 - 84.23  
  • 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) 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper to Aluminum Fall as Stronger Dollar Curbs Investor Demand - more
  • Reuters metals morning - Copper, base metals retreat on stronger dollar - more

  Reports

  • Read Oryx Stainless Press Release 25.09.2014 - pdf here
  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.31
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls to Lowest in Three Months on China Demand Concern - more
  • Reuters metals morning - London copper climbs away from three-month lows on China signals - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.59
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises on China Factory Data as Nickel Trims Drop - more
  • Reuters metals morning - Copper rebounds after encouraging China factory data - more

  Reports

  • AK Steel October Stainless Steel Surcharge - pdf here
  • Oryx 'Bolt of thunder from the Philippines' - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.80
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • Iron ore seen at $80 long term as China steel output growth slows - more
  • Late season El Niño remains possible - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Leads Industrial Metals Lower on Outlook in China - more
  • Reuters metals morning - Copper falls to 3-month low on worries about China growth - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 84.94
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Heads for Fourth Weekly Drop on Slowing Demand - more
  • LME Morning - Copper weighed by strong dollar; China data 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 - 85.05
  • 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
  • 5 Nickel Companies on the Move - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Retreats as Decline in Chinese House Prices Broadens - more
  • Reuters metals morning - Copper falls as Fed rates outlook lifts dollar - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 85.26
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Advances as Top Consumer China Boosts Stimulus - more
  • Reuters metals morning - Copper up on China stimulus reports, markets await Fed - more

  Reports

  • Great American Group Metals Monitor - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Trades Near Lowest Since June as China Investment Slumps - more
  • Reuters metals morning -  Lead hits 3-month low, copper steadies ahead of Fed meeting - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 85.46
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Falls a Fifth Session Amid China Slowdown Signals - more
  • Reuters metals morning - Copper slips on China growth jitters, Fed rate hike bets - more

  Reports

  • Deka - Downward trend continues in commodity markets - pdf here
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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
  • China to export more steel - 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Zinc’s Advance Narrows Biggest Weekly Slump in Almost Two Years - more
  • Reuters Morning - Copper set for biggest weekly loss in two months on dollar's strength - 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 - 85.46
  • 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
  • Dollar heads for best run in 17 years - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Extends Drops as Philippine Ore Export Worry Eases - more
  • Reuters metals morning - Copper steadies as dollar's rally eases - more

  Reports

  • Nickel – NPI market facing more upheaval, but not yet - pdf here (published before the price plunge)
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Leads Metals Lower as Dollar’s Gain Curbs Demand - more
  • Reuters metals morning - Nickel drops as Philippine supply no longer a concern - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index -
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • 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.
  • El Niño remains possible in 2014 - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Reaches 9-Wk High on Philippine Ore Supply Concern - more
  • Reuters metals morning - Copper up on speculation of looser China monetary policy - more

  Reports

  • Damstahl Stainless Steel Report - September 2014 - pdf here
  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 85.15
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Rises Before U.S. Jobs Report as Surplus Elusive - more
  • Reuters metals morning - Copper gains as ECB rate cut boosts recovery hopes - more

  Reports

  • US Imports of Stainless Steel Mill Products - more
  • Reuters Metals Insider - pdf here
  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 85.11
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Nickel Rises to Seven-Week High on Philippine Ore Concern - more
  • Reuters metals morning - Nickel hits 7-week high as Philippine news spurs speculators - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 85.03
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more

    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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Falls as China’s Power Grid Probe Curbs Demand - more
  • Reuters metals morning - Nickel gains on Philippine ban proposal, copper slips - more

  Reports

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 85.01
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 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
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index) (live java chart)
  • Bloomberg metals morning - Copper Climbs in London Before U.S. Manufacturing Report - more
  • Reuters metals morning - Zinc hits 4-week peak, aluminium up as funds buy - more

  Reports

  • Commodities Daily - here
  • Commonwealth Daily Alert - pdf here
  • KBC Commodity Report - here
  • Angel Metals Fundamental Report - here
  • DNB Metals Weekly - pdf here
  • Mico Metals Weekly - pdf here  
  • Hedge Equities Commodity Report - pdf here
  • MacNicol Morning Notes - pdf here
  • Mangal Commodities Metals & Energy - pdf here
  • Danske Weekly Focus - pdf here

  Commodity/Economic Comments

  • China E-Stainless Daily Price Index - 85.01
  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • European Debt Crisis Live - more
  • 100 Years of Stainless Steel - more
  • (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)
  • 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 news and information free of charge. Contact us

 August Archives


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