Nickel closed Thursday's trading
session at $8.58/lb ($18,925/tonne). Indicators
at 5:30 am CST today show
nickel trading around $.04/lb
lower. Stockpiles of nickel stored in LME approved warehouses rose on
Thursday and started the final trading day of the third quarter, just
over the 42,200 tonne level. That's assuming the bags marked nickel ARE
actually filled with nickel, which used to be a pretty safe bet.
Shanghai is closed for a week long holiday so it will be the second
week of October before we hear from them again. LME nickel continues to
slide, now trading just above the $18,800 tonne level, having fallen
below that level earlier this morning. It's a very bearish end to
September and the nickel bulls appear to be out to pasture. If your
requirements include corrosion resistant and
high alloy piping, we request you visit our site sponsor, P.A. Inc of
Houston, Texas. It is courtesy their year long sponsorship that
estainlesssteel is able to bring you daily updates and links to news on
the nickel and stainless eel industry. We thank them for that
sponsorship and we invite you to visit their website thru the banner
link
at the top of this page. Stay safe out there, have a great weekend, and
we hope to see you in October.
Average price of LME traded cash nickel
so far this month
- $8.93/lb
Reports
Reuters metals morning - Copper set for flat quarter amid rising inventories, firm dollar - more
Aperam raises European stainless steel alloy surcharges for Oct -
Aperam, a stainless steel manufacturer based in Luxembourg, raised the
alloy surcharge for its European austenitic stainless steel flat
products for October. - more
Russia’s stainless steel imports up 21.4 percent in August from
July - In August this year, Russia's stainless steel imports totaled
53,292 mt, up by 21.4 percent compared to the previous month and by
34.4 percent ... - more
Thyssenkrupp in talks to sell up to 50% of steel unit to Czech
billionaire -sources - German industrial group Thyssenkrupp is in
advanced talks to sell up to 50% of its steel division to Czech
billionaire.... more
Atlas Materials Raises $27 Million for Nickel Processing Pilot Plant in
North America - Atlas Materials, a start-up firm based in the United
States, has secured $27 million in funding to construct a pilot plant
in North America. - more
Swiss-based trader IXM cuts several metals traders in major reshuffle -
Swiss-based commodity trader IXM has announced the departure of several
metal traders, including its head of refined copper, ... - more
Other News
$1 billion metals SPAC deal backed by Glencore, automakers collapses - more
China's Grip on Critical Minerals Draws Warnings at IEA Gathering - more
Cuba warns of worsening blackouts as fuel crisis bites - more
Nickel closed Wednesday's trading
session at $8.61/lb ($18,980/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.01/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Wednesday and started today's session just under the 42,000 tonne
level. Shanghai nickel rose slightly overnight to 151,910 y/t. China
begins a week long holiday today celebrating two holidays, their
National Day and mid-Autumn Festival. Nickel has peeked its head back
above the $19,000 tonne level this morning, but showing little
enthusiasm to move in either direction. Glencore announced it will stop
funding the Koniambo Nickel mine in New Caledonia next year. New
Caledonia is rich with nickel, but no one has figured out a way to mine
nickel there and make money. French owned and long time miner Eramet,
has made money in years past, but even that operation has experienced
some difficulty primarily due to social unrest and sabotage to
facilities. Stay safe out there and have a great Thursday!
Average price of LME traded cash nickel
so far this month
- $8.95/lb
Reports
Reuters metals morning - Copper rebounds after traders square positions ahead of China holiday - more
Glencore to stop funding troubled New Caledonia nickel plant - Glencore
Plc said on Wednesday it will stop funding the loss-making Koniambo
Nickel SAS business it co-owns in New Caledonia at the end of February
.... - more
Yusco maintains stainless steel prices for Oct - Yieh United Steel
Corp. (Yusco), a leading stainless steel mill in Taiwan, announced that
the new prices for both domestic and foreign sales are kept unchanged
for October, in line with market expectations. - more
Column - China's strong metal imports not as bullish as they seem: Andy
Home - China’s appetite for base metal imports appears to be growing.- more
House passes bill overhauling mining tax system - The Philippines’
lower house on Tuesday approved a bill that overhauls the tax system
for mining, which the government said will be simplified to make the
industry more attractive to investors. - more
EU
recyclers warn against Critical Raw Materials Act - European recyclers
umbrella organisation EuRic has issued a note of concern on a report
presented to the European Parliament on critical raw materials (CRMs).
- more
Assessing nickel downstreaming in Indonesia - The International
Monetary Fund’s June 2023 assessment of Indonesia’s export ban policy
has reignited debate on Indonesia’s downstream industrial policy. - more
Other News
Brazilian miner Vale seals deal for potential low-carbon iron ore complex - more
Nickel closed Tuesday's trading
session at $8.58/lb ($18,905/tonne). Indicators
at 5:50 am CST today show
nickel trading around $.13/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and started today's session just over the 41,600 tonne level.
Shanghai nickel fell to 149,900 y/t overnight. While we have observed a
few bearish runs at the end of a fiscal quarter over the years, we
remember more the opposite happening. Bulls, who seemed to have wanted
to get an early jump on a new quarter in the past, have disappeared
this week. We may yet see a bump this week, but based on the overall
trend, that could turn out to be little more than what is called a
'dead cat bounce'. Nickel closed trading yesterday $2,220 tonne lower
than it did the first day this month. Stay safe out there and have a
great hump day!
Average price of LME traded cash nickel
so far this month
- $8.98/lb
Reports
Reuters metals morning - Copper falls on firm dollar, China property worries - more
Nickel futures have declined to a nearly two-year low,
falling below the $19,000 - Nickel futures have declined to a nearly
two-year low, falling below the $19,000 per tonne mark. - more
Outokumpu raises stainless steel alloy surcharges for Oct - Outokumpu,
a leading stainless steel manufacturer in Europe based in Finland,
announced its new alloy surcharges of stainless steel flat products for
October for its European customers. - more
Robust exports, stable domestic demand keep China’s steel production
strong in 2023 - Robust steel exports from China have emerged as a
major driver supporting steel production at a time .... - more
Indonesia's Ambitious EV Drive Faces Regional Challenges - Indonesia's
government has rolled out a series of policies to boost the electric
vehicle (EV) industry. Anindya Novyan Bakrie, president of Indonesian
company Barkie&Brothers .... - more
Mexico issues preliminary conclusions on anti-dumping investigation
into cold-rolled steel from Vietnam - The International Commercial
Practices Unit (UPCI) of the Mexican Ministry of Economy has issued
preliminary conclusions on the anti-dumping.... - more
What set off the latest South China Sea row between China and Philippines? - more
US Steel is attracting interest from a Canadian rival it once owned - more
Canada sees China as less ‘dependable’ partner on critical minerals, minister says - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Monday's trading
session at $8.68/lb ($19,145/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.10/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose
slightly on Monday and started today just over the 41,300 tonne level.
Shanghai nickel fell overnight to 157,080, and it is that time of the
month when we change contracts, so our new price will reflect 155,200
y/t for today. The Euro fell yesterday and this helped drag nickel
lower, and this morning, that negative momentum has dragged the price
below the $19,000 tonne level. Stay safe out there and have a great
Tuesday!
Average price of LME traded cash nickel
so far this month
- $9.01/lb
Reports
Reuters metals morning - Copper dragged down by China demand concerns, strong dollar, high stocks - more
Taiwan’s Yusco & Tang Eng expected to hike stainless steel prices
for Oct - Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co.,
Ltd., two leading stainless steel upstream manufacturers in Taiwan,....
- more
August 2023 crude steel production - World crude steel production for
the 63 countries reporting to the World Steel Association (worldsteel)
was 152.6 million tonnes (Mt) in August 2023, a 2.2% increase compared
to August 2022. - more
Reclaiming a billion-dollar venture from illegal miners - Standing in
groups on the lower slopes of a huge mountain in the Sandawana area of
the vast Mberengwa District, young men spoke to one ..... - more
Courtesy AISI - In the week ending on September 23, 2023, domestic raw
steel production was 1,735,000 net tons while the capability
utilization rate was 76.3 percent. Production was 1,684,000 net tons in
the week ending September 23, 2022 while the capability utilization
then was 76.4 percent. - more
Other News
Polymetal CEO: new tax proposals to hit price of Russian assets sale - more
EU Rules on Electric Cars Could Cost Carmakers Billions - more
Lego Abandons Effort to Make Bricks From Recycled Plastic Bottles - more
EU negotiator says trade relations with China ‘very imbalanced’ - more
Shutdown showdown in US Congress: Time running short to fund government - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Friday's trading
session at $8.80/lb ($19,400/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.01/lb
lower. Stockpiles of nickel stored in LME licensed warehouses went
unchanged on Friday and started this week just under the 41,300 tonne
level. Shanghai nickel rose overnight to 158,160 y/t. It's the
beginning of the last week of the third quarter of the year and so far
this morning, nickel is trading quietly. News in the U.S. this week
will likely be centered around another potential government shutdown.
Stay safe out there and have a great week!
Average price of LME traded cash nickel
so far this month
- $9.04/lb
MEPS debates future of stainless steel buying trends - The future of
stainless steel pricing models and the possibility of Amazon-style
online buying platforms were explored in a MEPS International debate at
the UK Metals Expo - more
Pullback In Commodity Prices Sets The Stage For Next Big Move – What’s
Next? - After an explosive start to September, Commodity prices have
pulled back on routine end of quarter profit-taking as traders square
up their positions – ready to capitalize on the markets next big move.
- more
South Korea’s Hyundai Steel to exit stainless steel market - South
Korean steelmaker Hyundai Steel will close its Incheon stainless steel
plant at the end of the year, exiting the stainless steel market, ... -
more
Russia to introduce new export tariffs linked to ruble exchange rate on
commodities - The Russian government will impose additional tariffs
linked to the ruble-dollar exchange rate on exports of metals, iron
ore, pig iron, .... - more
Inside Vietnam's plans to dent China's rare earths dominance - Vietnam
plans to restart its biggest rare-earths mine next year with a
Western-backed project that could rival the world's largest, .... - more
Other News
Steel mills selling ‘below cost’ in Northern European long steel markets - more
Russia Temporarily Bans Diesel Exports; European Prices Jump - more
Nickel closed Thursday's trading
session at $8.68/lb ($19,130/tonne). Indicators
at 6:00 am CST today show
nickel trading around $.11/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Thursday and started today just under the 41,300 tonne
level. Shanghai nickel declined slightly overnight, to 157,210 y/t.
Nickel is trading higher this morning, but with little apparent
enthusiasm. Nickel traded below the $19,000 tonne level yesterday, for
the first time in two years. Not a lot of news, so we end the week
quietly. Stay safe out there and have a great weekend!
Average price of LME traded cash nickel
so far this month
-
Reports
Reuters metals morning - Copper heads for weekly loss as hawkish US rate path spurs dollar - more
Odisha & GSSE establish partnership for Stainless Steel Hub - In
order to establish the Indian state of Odisha as a key destination for
the production and trade of stainless steel, .... - more
Hyundai Steel decides to withdraw stainless steel market - Hyundai
Steel, a steel manufacturer in South Korea, has decided to stop
operations at its stainless steel plant in Incheon by the end of this
month. - more
Post-holiday demand revival fails to materialise - A post-holiday
revival in European steel demand has yet to materialise as the limited
market activity of a month ago continues in September. - more
IREPAS in Istanbul: Uncertainty prevails in slow market with weak
demand - The 89th meeting of IREPAS (the International Rebar Exporters
and Producers Association) was held in Istanbul on September 17-19,
marking the 40th anniversary of the foundation of the association, in
conjunction with the SteelOrbis Fall ’23 Conference. - more
Other News
Minnesota grapples with nickel mining impacts as EV manufacturing raises demand - video here
Stagflation in Europe a bigger worry than China’s economic slowdown - more
New Battery Recycling Rules Could be a Game Changer - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Wednesday's trading
session at $8.90/lb ($19,620/tonne) Indicators
at 6:00 am CST today show
nickel trading around $.15/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose for
the fifth consecutive session, and ninth time this month, and started
today just over the 41,300 tonne level. Shanghai nickel fell sharply
overnight, to 157,480 y/t, its lowest close this year. The Euro is down
against the U.S. Dollar, while the Chinese Yuan Renminbi has recovered
most of its loss from yesterday's dip. This is adding negative pressure
on base metals trading, with all base metals trading lower this
morning. Fundamentally, nickel is finally facing clear evidence in LME
numbers, of the surplus we have been told about since late last year.
Indonesia says it will hold quota numbers for the next three years,
meaning the plants built there, will have to continue importing ore. If
Indonesia continues to take measures to protect their nickel, we could
see a lot more imported in the future. We really hope the US government
is paying attention to these developments, before entering into some
long term agreement for nickel they may or may not want to mine and
export. Everyone in the world wants a piece of the U.S. tax credits
being offered, but our government needs to be careful in using this as
a political carrot without getting some supply guarantees in return.
Stay safe out there and have a great Thursday!
Average price of LME traded cash nickel
so far this month
- $9.10/lb
Reports
Reuters metals morning - Copper falls to five-week low on hawkish Fed, strong dollar, high stocks - more
Wednesday's market review - Copper rises with improved China demand
hopes, weaker dollar - Copper prices rose in London on Wednesday with
more upbeat demand prospects from top metals consumer China, .... - more
China’s steel bar exports up 50 percent to 7.36 million mt in Jan-Aug -
In the January-August period this year, China\u2019s exports of steel
bars, wire rod and angles\/channels totaled 7.361 million mt, 1.62
million mt and ... - more
Indonesia extends validity of mining production plans to three years -
Indonesia will allow mining production plans to stay valid for three
years with immediate effect, according to rules made public on
Thursday, as it looks to beef up efficiency in quota approvals. - more
Top Philippine nickel miners may spend $2bn in new plants - The
Philippines’ two biggest nickel producers are planning to invest about
$1-billion each to build processing plants, the companies’ top
executives said, .... - more
China Baowu puts deal for Tsingshan nickel assets on hold - report -
China Baowu Steel Group, the world's largest steelmaker, has put on
hold the purchase of some Indonesian nickel assets owned by Tsingshan
Holding Group, according to a Chinese media report. - more
Indonesia’s nickel sector under scrutiny as Chinese workers allege inhumane working conditions, incl. company statement - more
Other News
Supply Chain Due Diligence: New Regulations and What You Need to Do - more
What Industrial Distributor Customers Really Want - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Tuesday's trading
session at $9.04/lb ($19,925/tonne). Indicators
at 5:45 am CST today show
nickel trading unchanged .
Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday,
and started today's session just over the 41,000 tonne level. Shanghai
nickel rose overnight, to 163,540 y/t. Markets are very quiet so far
this morning, with the Fed rate decision offering traders an excuse to
trade in wither direction. That will be announced after LME trading
hours, so unless someone blinks and decides to gamble big, this could
remain a quiet day. Indonesia is making news again, and its an apparent
turn around from all the promises they have been giving to those who
were looking to invest there. Apparently the largest producer of nickel
in the world, is suddenly concerned about running out, and is now
putting limits on production by limiting quotas. IF you are one of the
countries that invested heavily there, you have a right to be annoyed.
If you are not, like Elon Musk, you are to be congratulated. Stay safe
out there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $9.11/lb
Reports
Reuters metals morning - Copper moves in tight range ahead of Fed rate decision - more
Tuesday's market review - Copper slips ahead of Fed meeting as
inventories build - Copper prices extended losses on Tuesday, as
inventories piled up and as traders worried ahead of a U.S. Federal
Reserve policy .... - more
Top nickel producer Indonesia will not approve any new mining quotas
for 2023 - Top nickel producer Indonesia will not approve any new
mining output quotas this year, .... - more
POSCO achieves 50 million tons of stainless steel crude steel
production on Sep 18 - South Korean leading steelmaker POSCO achieved
50 million tons of stainless steel crude steel production on September
18 ..... - more
Odisha government announces subsidy scheme to boost stainless steel
production - The Odisha government launched a special investment scheme
to raise stainless steel production, offering 20% capital subsidy.....
- more
India's Jindal forays into stainless steel long products - more
China may finally nick some metals clout from LME - When Hong Kong
Exchanges and Clearing splashed $2.2 billion to acquire the London
Metal Exchange in 2012.... - more
Trafigura Reshuffles Top Team as Metals Losses Rattle Trader - Trafigura
Group announced a shakeup in its senior ranks as the commodities
trading giant wrestles with with the future of its metals business,
.... - more
Turning a makorokoza-infested mine into a billion-dollar venture -
Standing in groups on the lower slopes of a huge mountain in the
Sandawana area of the vast Mberengwa District, ..... - more
Courtesy AISI - In the week ending on September 16, 2023, domestic raw
steel production was 1,733,000 net tons while the capability
utilization rate was 76.2 percent. Production was 1,684,000 net tons in
the week ending September 16, 2022 while the capability utilization
then was 76.4 percent. - more
Other News
Aurubis trims annual forecast further after metal theft - more
US to continue CVD orders on wire rod from Italy - more
Clorox warns of product shortages a month after disclosing cyberattack - more
Senate ditches dress code as Fetterman and others choose casual clothes - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Monday's trading
session at $9.02/lb ($19,885). Indicators
at 5:45 am CST today show
nickel trading around $.10/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Monday and started today's session at 40,500 tonnes. Shanghai nickel
fell slightly overnight, to 161,670 y/t. In the lead article below, the
author states "Energy and Mineral Resources Minister Arifin
Tasrif has forecast that at current nickel ore consumption, the world’s
largest nickel producer has around 15 years until its deposits run
out." This kind of information would usually send a chill through the
market, but since its publication in the Jakarta Post yesterday,
traders appear to be shrugging it off. The sudden growth in LME nickel
numbers this month, back over 40,000 tonnes for the first since May
2nd, appears to have supply bulls subdued. There is a mine for sale in
Australia, the Philippines is looking for more nickel to mine, and
Fitch has updated its nickel forecast. Stay safe out there and have a
great Tuesday!
Average price of LME traded cash nickel
so far this month
- $9.14/lb
Reports
Reuters metals morning - Copper heads lower ahead of Fed meeting, as inventories build - more
Indonesia’s nickel reserves could be depleted in 15 years, minister
warns - The possible depletion could be the result of high annual
production amid increased demand from smelting facilities, a senior
minister has warned. - more
China slowdown? Indonesian exporters are not feeling it, yet - Despite
the drop in exports to China, the Asian powerhouse remains Indonesia’s
biggest export destination, accounting for 25.99 per cent of all
outgoing shipments in August. - more
Receivers look to sell Australia’s Avebury nickel mine by Christmas -
KordaMentha plans to have sold the Avebury nickel mine in Tasmania by
Christmas, a partner for the insolvency firm said on Monday, after
missed debt repayment deadlines and a falling nickel price tipped the
operation into receivership. - more
Philippines seeks more sites for critical minerals in govt-led
exploration - The Philippine government will step up support for the
local mining industry via exploration activities starting next year to
identify more areas where critical minerals such as nickel and chromium
can be extracted, a senior official said on Tuesday. - more
Fitch Ratings Revises Global Metals and Mining Price Assumptions -
Fitch Ratings has raised all of its metallurgical coal price
assumptions on higher costs and rising global steel consumption. - more
Other News
Philippines' Philex says looking at venturing into nickel mining - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Friday's trading
session at $9.06/lb ($19,980/tonne). Indicators
at 5:50 am CST today show
nickel trading around $.03/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose
sharply on Friday and started this week just over the 39,950 tonne
level. Cancelled warrants remain in the 2% range. Shanghai nickel rose
slightly overnight, to 162,900 y/t. The U.S. Federal Reserve is meeting
tomorrow and will announce any possible interest rate increase on
Wednesday. It appears the market is betting there will be no change, so
any announced rate increase could affect the Dollar/Euro ratio, and
thus, the trading price of nickel. Stay safe out there and have a great
week!
Average price of LME traded cash nickel
so far this month
- $9.15/lb
Reports
Reuters metals morning - China demand angst, LME inventories weigh on copper - more
US sets 0% dumping margin for India’s stainless steel bars - The US
Department of Commerce (USDOC) announced the final result after the
review of the anti-dumping (AD) duty order on stainless steel bars from
India, .... - more
Hansteel first produces thickest and widest hot-rolled stainless steel
composite plate - Handan Iron and Steel Group (Hansteel) of HBIS Group
received positive feedback for hot-rolled coil stainless steel
composite plate with grade 304 and ... - more
Taiwan’s stainless steel wire rod exports fall for 3 consecutive months
- According to Customs statistics, Taiwan’s stainless steel wire rod
exports totaled around 7,400 tons in August .... - more
Base Metals: China Flatters to Deceive - Base metal prices have
diverged so far year, as fundamental drivers have started to reassert
themselves. - more
China’s crude steel output loses 4.83% in Aug from July’s high, but
Jan-Aug result still 2.6% above last year - In August, China's
outputs of pig iron, crude steel and finished steel totaled 74.62
million mt, 86.41 million mt and 116.52 million mt, indicating ... - more
Headwinds for nickel and stainless steel - For recyclers of nickel and
stainless steel, global market fundamentals continue to pose
challenges. - more
Other News
Trafigura Wrestles With Future of Metals Unit After Losses - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Thursday's trading
session at $9.20/lb ($20,285/tonne). Indicators
at 7:00 am CST today show
nickel trading around $.05/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Thursday and started today's session just under the 38,950 tonne level.
Shanghai nickel tracked LME nickel slightly higher, to 162,800 y/t.
Considering the Euro fell hard against the U.S. Dollar yesterday, it
was surprising to see nickel pull off a positive close. It is
down this morning, but we are seeing no evidence of any sharp moves.
LME has announced it will change the way it determines a closing price.
This will not change our number, as we are not authorized to publish
LME's actual closing numbers, so we publish the trading price where it
stands at a particular time every day. That seems to be how U.S.
markets operate, so it gives us continuity without any games, beyond
those played by the traders. Stay safe out there and enjoy your weekend!
Average price of LME traded cash nickel
so far this month
- $9.16/lb
Reports
Reuters metals morning - Copper climbs after China data but firmer dollar caps upside - more
Thursday's market review - Copper firms ahead of interest rate
decisions - Copper prices rose on Thursday as China's measures to
support economic recovery helped to alleviate price pressure from high
inventories while the market awaits interest rate decisions in the euro
zone and China. - more
LME to change the way closing prices are determined - The London Metal
Exchange (LME) said on Thursday that it would introduce a phased
roll-out of an evolved closing price methodology to its most liquid
contracts from January 2024 after a market-wide consultation. - more
Europe's mining quest faces a hurdle: angry locals - In Portugal's
northern Barroso region, Maria Loureiro weeps at the prospect of losing
her family's land to a mine that could become one of Europe's biggest
producers of lithium, used in electric vehicle batteries and other
clean technologies. - more
Other News
Indonesia asks China's Geely to help build homegrown EV by 2026 - more
New Indonesian industrial park on Borneo, feted as 'green,' will be powered by coal, report says - more
U.S. auto workers target Detroit Three with first simultaneous strike - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Wednesday's trading
session at $9.12/lb ($20,110/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.14/lb
higher. Stockpiles of nickel stored in LME licensed warehouse went
unchanged on Wednesday and remain just under the 37,750 tonne level.
Shanghai nickel gave up taking the lead and followed LME higher to
162,300 y/t. Extreme flooding has hurt numerous countries this year,
only nearly every continent, with a killer flood in Libya still in the
headlines. Indonesia is under the gun now, with reports of nickel mines
having to temporarily close and damage to their infrastructure. Not
sure if this is global warming, El Nino, or just rotten luck, but it
seems this has been an incredibly bad year for flooding - everywhere.
Shanghai Futures Exchange is looking at offering a challenge to the LME
in nickel trading, but in our opinion, they really need to show some
initiative and spend more than a couple of days a month leading the
directional up and down of trading, and stop merely shadowing what the
LME did the prior day. Stay safe out there and have a great Thursday!
Average price of LME traded cash nickel
so far this month
- $9.16/lb
Reports
Reuters metals morning - Copper weighed down by rising stocks, China demand concerns - more
Wednesday's market review - Copper up after moderate rise in underlying
US inflation - Copper prices reversed earlier losses to trade higher on
Wednesday, after a moderate rise in underlying inflation in the United
States raised hopes the U.S. Federal Reserve would leave interest rates
unchanged next week. - more
Shanghai exchange exploring potential LME nickel rival - The Shanghai
Futures Exchange (ShFE) is looking into the possible launch of nickel
futures for international use, a potential challenge to the London
Metal Exchange's (LME) contract, five sources with knowledge of the
matter told Reuters. - more
Flash floods hit Indonesia's Weda Bay nickel park - Heavy rains in
Indonesia's North Maluku have caused flash floods that hit a major
nickel industry area in the province's Weda Bay, a search and rescue
official said on Wednesday. - more
Nickel closed Tuesday's trading
session at $9.04/lb ($19,925/tonne). Indicators
at 5:50 am CST today show
nickel trading around $.02/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and started today just under the 38,750 tonne level. Shanghai
fell overnight, to 161,600, it's lowest since early July. LME nickel
fell to its lowest traded price since mid August yesterday and shows
little evidence of a recovery yet today. The two nickel mining
companies in Minnesota are having entirely different months. Twin
Metals, a subsidiary of the Chilean mining company Antofagasta, saw its
proposed nickel-copper mining mine near the Boundary Waters Canoe Area
Wilderness in northeastern Minnesota, dealt a serious blow last week,
when courts ruled the Biden administration was within its rights to
cancel their critical mineral rights lease. On the other hand, Talon
Metals received a large contract from the U.S. government yesterday,
for nickel to be supplied by its Tamarack mine project in Minnesota.
And in potentially bigger news, a federal committee is recommending the
government start collecting a royalty on minerals mined within the US
border. Stay safe out there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $9.20/lb
Reports
Reuters metals morning - Copper stuck in tight range ahead of US inflation data - more
Tuesday's market review - Copper retreats on stronger dollar and rising
LME stocks - Copper prices fell in London on Tuesday under pressure
from a stronger dollar and rising inventories, though positive signals
from top metals consumer China kept losses in check. - more
U.S. Dept of Defense signs deal to boost domestic nickel production -
The U.S. Department of Defense on Tuesday entered into a $20.6 million
agreement with a subsidiary of Canada's Talon Metals Corp to
increase domestic production of Nickel. - more
Defense Department awards $20.6 million to proposed nickel mines in Minnesota and Michigan - more
More life-changing developments in Midlands - Midlands has
achieved a lot of life-changing socio-economic development under the
Second Republic and is poised .... - more
US committee recommends royalties on minerals for EVs in sweeping
reform proposal - A federal committee on Tuesday recommended imposing
royalties on U.S. hardrock mining for the first time, a move it said
could increase domestic production by providing funds for the agencies
in charge of issuing new mining permits. - more
Biden plan would overhaul 151-year-old mining law, make companies pay royalties for copper and gold - more
Other News
Canada to recoup investments from EV plants in 20 years -watchdog - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Monday's trading
session at$9.29/lb ($20,485/tonne). Indicators
at 5:50 am CST today show
nickel trading around $.17/lb
lower. Stockpiles of nickel stored in LME approved warehouses went
unchanged on Monday and remain just under the 38,300 tonne level.
Shanghai nickel broke with LME overnight, falling to 162,170 y/t. The
last time Shanghai was trading nickel this low, mid last month, LME
nickel closed well under the $20,000 tonne level. Both the Euro and
Yuan have given back some of yesterday's gains, adding negative
pressure in both Chinese and London markets. Stay safe out there and
have a great Tuesday!
Average price of LME traded cash nickel
so far this month
- $9.23/lb
Reports
Reuters metals morning - London copper falls as dollar rebounds - more
Monday's market review - Copper climbs with Chinese currency recovery -
Copper prices rose on Monday as a stronger Chinese currency, a weaker
dollar and buoyant loan data from top consumer China fuelled purchases
by traders that use algorithms to generate buy and sell signals. - more
China's steel industry PPI decreases by 6.6 percent in August - In
August this year, China's producer price index (PPI) for its ferrous
metal smelting and rolling sector declined by 6.6 percent year on year,
while ... - more
Minister Luhut warns nickel factories to comply with laws and
regulations, threatens to revoke permit - Coordinating Minister for
Maritime Affairs and Investment, Luhut Binsar Pandjaitan, was giving a
strict warning to nickel smelter facility management companies to
operate in accordance with existing regulations, including
environmental standards. - more
Govt will monitor nickel demand fulfillment: minister - more
Stanislav Kondrashov: nickel mining at the bottom of the sea in Indonesia is a revolution in the mining industry - more
India imposes anti-dumping duty on some Chinese steel for 5 years -
India on Monday imposed an anti-dumping duty on some Chinese steel for
five years, according to a government notification. - more
Courtesy AISI - In the week ending on September 9, 2023, domestic raw
steel production was 1,721,000 net tons while the capability
utilization rate was 75.7 percent. Production was 1,684,000 net tons in
the week ending September 9, 2022 while the capability utilization then
was 76.4 percent. - more
Other News
Swarm of Chinese Vessels Tries - And Fails - to Block Philippine Convoy - more
Nickel closed Friday's trading
session at $9.09/lb ($20,045/tonne). Indicators
at 6:00 am CST today show
nickel trading around $.08/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose for
a third time this month on Friday and ended last week just under the
38,300 tonne level. Shanghai nickel rose slightly to 166,450 y/t
overnight. Nickel fell below the $20,000/tonne level on Friday and this
morning, the bulls appear to be trying to keep that from happening
again. There was a subscription article on Friday, published by the
Jakarta Post, that stated "Indonesia imported 53,863 tonnes of nickel
ore in the first half of 2023, up from 22,503 tonnes in 2022" The surge
is being blamed on more processing capacity than ore mining can
currently supply. Westwin Elements has broken ground for America's only
nickel refinery in Oklahoma, which they hope to have processing next
year. Here is more on their initial announcement from March (here).
Today we remember the victims of the terrorist attacks - on what has
become known as simply 9/11. It was a wake up call, and we have not
slept since. Stay safe out there and have a great week!
Average price of LME traded cash nickel
so far this month
- $9.25/lb
Reports
Reuters metals morning - London copper rises on signs of China economic stabilisation - more
China schedules more cold-rolled stainless steel production for Sep -
In August, the production of 34 cold-rolled stainless steel mills in
China totaled around 1.32 million tons, up by 3.83% compared to the
previous month and by 20.4% from the same month a year ago. - more
U.S. imports/exports of Nickel - more // U.S. imports/exports of Stainless steel - more
Ferronickel and NPI importers to the EU: get ready for the EU Carbon
Border Adjustment Mechanism and its data collection and submission
requirements - After several years of negotiation between EU
institutions, the EU Carbon Border Adjustment Mechanism (CBAM)
Regulation was adopted in 2023. - more
US, Saudi Arabia in talks to secure metals in Africa - The United
States and Saudi Arabia are in talks to secure metals in Africa needed
to help them with their energy transitions, the Wall Street Journal
reported on Sunday, citing people with knowledge of the talks. - more
UK initiates safeguard extension review for 15 steel product categories
- The UK’s Trade Remedies Authority (TRA) has announced that it has
initiated an extension review of the safeguard measure on 15 categories
of steel products that is due to expire on June 30, 2024. - more
Other News
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Thursday's trading
session at $9.30/lb ($20,500/tonne). Indicators
at 6:15 am CST today show
nickel trading around $.11/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose by a
respectable amount on Thursday and started today's session just under
the 38,000 tonne level. That is two larger increases seen this week,
after months with little daily change. Shanghai nickel again followed
LME lower, to 166,220 y/t overnight. The proposed Twin Metals nickel
mine in Minnesota appears to be destined to fail, after a court denied
an appeal by the mine for a license. Stay safe out there and have a
great weekend!
Average price of LME traded cash nickel
so far this month
- $9.30/lb
Reports
Reuters metals morning - Copper set for worst week in four on firm dollar and higher stocks - more
Indonesia proposes critical minerals trade deal with US - Indonesia has
asked the United States to begin talks on a trade deal for critical
minerals so that exports from the Southeast Asian country can be
covered under the U.S. Inflation Reduction Act, an Indonesian ministry
said on Thursday. - more
Federal judge deals another serious blow to proposed copper-nickel mine
on edge Minnesota wilderness - A federal judge has dealt another
serious setback to the proposed Twin Metals copper-nickel mine near the
Boundary Waters Canoe Area Wilderness ...... - more
Mining company loses bid to revive Minnesota copper, nickel project - more
HRC buyers in Europe postpone restocking amid lack of clarity on price
trend, slow consumption - Hot-rolled coil buyers in Europe have
postponed restocking amid mixed views on the future direction of prices
and insufficient end-user demand, sources told Fastmarkets on Tuesday
September 5. - more
Vale Base Metals to invest $10 billion in Indonesia over next decade -
Vale Base Metals is committing $10 billion for investment in Indonesia
over the next decade to capture demand for metals such as nickel and
copper for electric vehicle production, its chief executive said on
Thursday. - more
Russia's Nornickel: cash flow not yet stable enough to resume dividends
- Russian metals and mining giant Norilsk Nickel is not yet generating
free cash flow on a stable enough basis to resume dividend payments,
but does not rule out doing so in future, head of investor relations
Mikhail Borovikov told reporters on Thursday. - more
Other News
Chinese duties on U.S. imports 'inconsistent' with WTO obligations: panel - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Wednesday's trading
session at $9.34/lb ($20,580/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.02/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Wednesday and started today's trading session just under
the 37,400 tonne level. Shanghai nickel followed LME lower overnight,
down to 167,620 y/t. The Euro continues to slide against the Dollar,
which is keeping negative pressure on London traded base metals. After
a sharp drop yesterday, and a big dip this morning, nickel is down only
slightly at the moment. Stay safe out there and have a great Thursday!
Average price of LME traded cash nickel
so far this month
- $9.34/lb
Reports
Reuters metals morning - Copper hits lowest in over a week on firm dollar, stimulus wait - more
CISA mills’ daily steel output down 7.65 percent in late August - The
China Iron and Steel Association (CISA) has announced that in late
August (August 21-31) this year the average aggregate daily crude steel
output ... - more
Indonesia Illegal Nickel Ore Policy - In mid-August 2023, the
Indonesian government investigated and dealt with illegal nickel ores
and stopped the approval of new quota applications. The news caused the
market to pay close attention. - more
UK Metals Expo Q&A: Outokumpu’s Simon Marsden - Outokumpu’s
head of UK sales Simon Marsden said that highlighting the value of
low-CO2 stainless steel in a price-driven market will be a key focus at
the UK Metals Expo. - more
Other News
Chinese Premier Li Qian takes a test ride on Indonesia's new high-speed railway - more
China’s new map has riled the region, with ‘collective concern’ over its claims - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Tuesday's trading
session at $9.56/lb ($21,070/tonne). Indicators
at 5:50 am CST today show
nickel trading around $.09/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and started today just over the 37,400 tonne level. Shanghai
nickel rose slightly to 171,860 y/t. LME nickel rose by a mere
$20/tonne yesterday and is down this morning, thanks in part to a
weaker Euro. Another suit claiming nickel fraud and this one does not
appear to be related to the earlier suits or involved companies. It's
an early Wednesday for Americans who had Monday off. Stay safe out
there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $9.35/lb
Reports
Reuters metals morning - Copper pulls back on weak yuan, concern about global growth - more
POSCO raises 300 series stainless steel prices & 316L surcharge for
Sep - South Korean steelmaker POSCO raised the price of 300 series
stainless steel by 100,000 won per ton for September, due to
..... - more
Philippines says H1 nickel ore output up 40% y/y - The Philippines’
nickel ore output in the first half of the year totalled 16.87 million
dry metric tons (dmt), up 40% versus the 12.01 million dmt produced in
the same period last year, the Mines and Geosciences Bureau said on
Monday. - more
Metals trader Kataman suing several firms for nickel fraud - U.S.
trading house Kataman Metals LLC is suing several companies for
allegedly defrauding it out of more than $3 million worth of nickel and
for not .... - more
Stainless Steel CO2 Emissions Report - Like
any other major industry, the stainless steels industry consistently
endeavours to reduce its operational CO2 emissions year-on-year. - more
EU lawmakers see recycling as key in search for critical minerals -
European Union lawmakers will push for far greater recycling of waste
in a new EU law to ensure the bloc has raw materials such as lithium,
nickel and cobalt required for its green transition. - more
Courtesy AISI - In the week ending on September 2, 2023, domestic raw
steel production was 1,729,000 net tons while the capability
utilization rate was 76.0 percent. Production was 1,709,000 net tons in
the week ending September 2, 2022 while the capability utilization then
was 77.5 percent. - more
Other News
Can you use expired Covid tests? What to know as cases rise, new variants emerge - more
Economic
Stats and Prices (posted in Friday
edition)
Nickel closed Friday's trading
session at $9.58/lb ($21,125/tonne) and Monday's session at $9.55/lb
($21,050/tonne). Indicators
at 5:45 am CST today show
nickel trading unchanged from Monday's close. Stockpiles of nickel
stored in LME licensed warehouses fell a grad total of one lot over the
last two working days and start today's session just over the 37,150
tonne level. Shanghai nickel rose over their last two sessions, to
170,710 on Monday and 171,800 y/t this morning. Nickel got a bump on
Friday to start the new month, but gave back a little yesterday, with
U.S. markets closed for Labor Day. This morning, LME traders appear to
be waiting to see what mood U.S. traders will return to the market in.
If futures are any hint, then U.S. traders are wondering the same. The
last third of 2023 has officially begun. Stay safe out there and have a
great Tuesday!
Average price of LME traded cash nickel
so far this month
- $9.29/lb
Reports
Reuters metals morning - Copper down on weak China service data, uncertainty over property measures - more
Metals Drop From Four-Week High as Traders Assess China Policy - Most
base metals retreated after racking up a second weekly gain on China’s
moves to ease stress in its struggling property market. - more
Nickel prices start September 2023 on a positive note - more
European stainless steel makers move to US amid falling EU profits - As
a result of recent events in the markets of Europe and the US, the
difference in prices for stainless steel exceeded $1,350 per ton in
favor of the US market. - more
Column: Abaxx offers sulphate solution for broken nickel market -
It's been a year and a half since the London Metal Exchange (LME)
nickel contract went into meltdown, forcing the suspension of trading
and the controversial decision to cancel trades. - more
US announces final CVD ruling on India’s stainless steel flanges -
According to the final results of the expedited first sunset review of
the countervailing duty (CVD) order, the US Department of Commerce
(USDOC).... - more
Government tightens norms for sale of aluminium, copper, and nickel
from December - India has restricted the sale of poor-quality
aluminium, copper, and nickel from December 2023 onwards.- more
W. Australia Offers to Make Indonesia’s EV Battery Dream Come True -
The state of Western Australia says that it wants to help make
Indonesia -- its close neighbor that is also abundant in nickel -- one
of the key players in electric vehicle (EV) manufacturing, particularly
its components such as batteries. - more
From ‘Ring of Fire’ to Mincor: Nickel dream drives Wyloo boss - Ask
Wyloo Metals boss Luca Giacovazzi, 31, if he’s a bit young to be four
years into running a pure-play nickel miner that wrestled control of
Canada’s fabled “Ring of Fire” basin from resources giant BHP, and he
quips: “Don’t hold it against me.” - more
China Mulls Tougher Rules on Commodity Trading For Key Firms - China
has proposed tougher-than-expected rules on commodities trading by its
state-owned giants, as Beijing seek to tackle hidden risks in the
world’s biggest raw materials market. - more
Other News
Copper Crime Ring Is Latest Scandal to Rock the Metals World - more
Nickel closed yesterday's trading
session at $9.22/lb ($20,330/tonne). Indicators
at 5:30 am CST today show
nickel trading around $.12/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Thursday and closed out the month of August at 37,170 tonnes. That is
342 tonnes lower than it ended July. Cancelled warrants spent most of
the last half of the month in the 2% range, where they remain. China is
taking more steps to aid its ailing real estate market, and base metals
traders are starting the new month on a positive note. As we start
another month of news reporting on
estainlesssteel.com, we want to thank P.A. Inc of Houston, Texas, the
sponsor who makes it available to site visitors. If you use
corrosion resistant pipe, buttweld fittings, flanges and pressure
fittings in critical applications, check out their line sheet here. Supporting them supports us, so please visit their web site (here) and see if they offer a service you can take advantage of. We
appreciate their continued support and your visit to the site today. US
markets celebrate Labor Day on Monday, so our next update will be on
Tuesday, September 5th. Stay safe out there and have a great weekend!
Average price of LME traded cash nickel
so far this month
- $9.30/lb (August average)
Reports
Reuters metals morning - Base metals rally as China ramps up economic support - more
Yusco’s price increase in stainless steel accepted by
market - Yieh United Steel Corp. (Yusco), Taiwan’s leading stainless
steel mill, announced an increase in its stainless steel prices for
September delivery, of which domestic price was hiked by
NT$1,000-3,500/ton, and export price was increased by US$30-120/ton. - more
High carbon FeCr prices tick up in Europe; buyers gradually return - High
carbon ferro-chrome prices rose in Europe during the week to Tuesday
August 29, amid rising offers from the sell side, while end users have
gradually begun to return to the spot market following summer
maintenance shutdowns. - more
US stainless market resilient as EU mill profits slump - In their
latest financial results, European listed companies Acerinox, Aperam
and Outokumpu, in most cases, reported lower sales and profits for
their stainless steel divisions, for the second quarter of 2023,
compared with those in the previous three-month period. - more
MOC: Average steel prices in China rise slightly during August 21-27 -
China's Ministry of Commerce (MOC) has announced that during the August
21-27 period this year the overall average finished steel price in
China ... - more
Other News
Super Typhoon Saola: highest warning as storm barrels towards southern China - more
Dollar unlikely to lose global dominance soon even as BRICS expand, BNY Mellon says - more
It's Getting Harder to Find Mining Engineers a Green World Needs - more
China ramps up economic support as Country Garden vote looms - more
Economic
Stats and Prices (posted in Friday
edition)
(all
ton listings are metric tons = 2204.622 pounds ) Updated Monday thru
Thursday before 7 am CST, Friday version before 8 am CST - DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on
this page are indications only. Please note - for real time and
official LME
prices, LME requires a user subscribe to an authorized LME vendor.
Daily Nickel/Stainless Steel Briefing 
($18,925/tonne). Indicators
at 5:30 am CST today show
nickel trading around $.04/lb 
Reports 
Shanghai
Metals Market
London Metals
Market
Aperam raises European stainless steel alloy surcharges for Oct -
Aperam, a stainless steel manufacturer based in Luxembourg, raised the
alloy surcharge for its European austenitic stainless steel flat
products for October. - 
Russia’s stainless steel imports up 21.4 percent in August from
July - In August this year, Russia's stainless steel imports totaled
53,292 mt, up by 21.4 percent compared to the previous month and by
34.4 percent ... - 
Thyssenkrupp in talks to sell up to 50% of steel unit to Czech
billionaire -sources - German industrial group Thyssenkrupp is in
advanced talks to sell up to 50% of its steel division to Czech
billionaire.... 
Atlas Materials Raises $27 Million for Nickel Processing Pilot Plant in
North America - Atlas Materials, a start-up firm based in the United
States, has secured $27 million in funding to construct a pilot plant
in North America. - 
Swiss-based trader IXM cuts several metals traders in major reshuffle -
Swiss-based commodity trader IXM has announced the departure of several
metal traders, including its head of refined copper, ... - 
Other News
Слава Україні! - 
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Wednesday and started today's session just under the 42,000 tonne
level. Shanghai nickel rose slightly overnight to 151,910 y/t. China
begins a week long holiday today celebrating two holidays, their
National Day and mid-Autumn Festival. Nickel has peeked its head back
above the $19,000 tonne level this morning, but showing little
enthusiasm to move in either direction. Glencore announced it will stop
funding the Koniambo Nickel mine in New Caledonia next year. New
Caledonia is rich with nickel, but no one has figured out a way to mine
nickel there and make money. French owned and long time miner Eramet,
has made money in years past, but even that operation has experienced
some difficulty primarily due to social unrest and sabotage to
facilities. Stay safe out there and have a great Thursday! 
Glencore to stop funding troubled New Caledonia nickel plant - Glencore
Plc said on Wednesday it will stop funding the loss-making Koniambo
Nickel SAS business it co-owns in New Caledonia at the end of February
.... - 
Yusco maintains stainless steel prices for Oct - Yieh United Steel
Corp. (Yusco), a leading stainless steel mill in Taiwan, announced that
the new prices for both domestic and foreign sales are kept unchanged
for October, in line with market expectations. - 
House passes bill overhauling mining tax system - The Philippines’
lower house on Tuesday approved a bill that overhauls the tax system
for mining, which the government said will be simplified to make the
industry more attractive to investors. - 
Assessing nickel downstreaming in Indonesia - The International
Monetary Fund’s June 2023 assessment of Indonesia’s export ban policy
has reignited debate on Indonesia’s downstream industrial policy. - 
Mexico issues preliminary conclusions on anti-dumping investigation
into cold-rolled steel from Vietnam - The International Commercial
Practices Unit (UPCI) of the Mexican Ministry of Economy has issued
preliminary conclusions on the anti-dumping.... - 
Reclaiming a billion-dollar venture from illegal miners - Standing in
groups on the lower slopes of a huge mountain in the Sandawana area of
the vast Mberengwa District, young men spoke to one ..... - 
Pullback In Commodity Prices Sets The Stage For Next Big Move – What’s
Next? - After an explosive start to September, Commodity prices have
pulled back on routine end of quarter profit-taking as traders square
up their positions – ready to capitalize on the markets next big move.
- 
South Korea’s Hyundai Steel to exit stainless steel market - South
Korean steelmaker Hyundai Steel will close its Incheon stainless steel
plant at the end of the year, exiting the stainless steel market, ... -
Inside Vietnam's plans to dent China's rare earths dominance - Vietnam
plans to restart its biggest rare-earths mine next year with a
Western-backed project that could rival the world's largest, .... - 
Odisha & GSSE establish partnership for Stainless Steel Hub - In
order to establish the Indian state of Odisha as a key destination for
the production and trade of stainless steel, .... - 
.
Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday,
and started today's session just over the 41,000 tonne level. Shanghai
nickel rose overnight, to 163,540 y/t. Markets are very quiet so far
this morning, with the Fed rate decision offering traders an excuse to
trade in wither direction. That will be announced after LME trading
hours, so unless someone blinks and decides to gamble big, this could
remain a quiet day. Indonesia is making news again, and its an apparent
turn around from all the promises they have been giving to those who
were looking to invest there. Apparently the largest producer of nickel
in the world, is suddenly concerned about running out, and is now
putting limits on production by limiting quotas. IF you are one of the
countries that invested heavily there, you have a right to be annoyed.
If you are not, like Elon Musk, you are to be congratulated. Stay safe
out there and have a great hump day!
Receivers look to sell Australia’s Avebury nickel mine by Christmas -
KordaMentha plans to have sold the Avebury nickel mine in Tasmania by
Christmas, a partner for the insolvency firm said on Monday, after
missed debt repayment deadlines and a falling nickel price tipped the
operation into receivership. - 
U.S. imports/exports of Nickel -
US, Saudi Arabia in talks to secure metals in Africa - The United
States and Saudi Arabia are in talks to secure metals in Africa needed
to help them with their energy transitions, the Wall Street Journal
reported on Sunday, citing people with knowledge of the talks. - 
Russia's Nornickel: cash flow not yet stable enough to resume dividends
- Russian metals and mining giant Norilsk Nickel is not yet generating
free cash flow on a stable enough basis to resume dividend payments,
but does not rule out doing so in future, head of investor relations
Mikhail Borovikov told reporters on Thursday. - 
Column: Abaxx offers sulphate solution for broken nickel market -
It's been a year and a half since the London Metal Exchange (LME)
nickel contract went into meltdown, forcing the suspension of trading
and the controversial decision to cancel trades. - 
