|
|
|
8-31 |
LME nickel ended the day at $6.74/lb.
* MEPS is reporting world output of crude stainless was up almost
6% in the first half of 2005, compared to the same period last year. Without
China, output in the rest of the world was up only 1.8%.
* Nickel inventories continue to gain, with another 204 tons
added Tuesday to bring the total warehoused by LME at 9,714 tons. |
|
|
|
|
8-30 |
LME nickel ended the day at $6.69/lb. |
|
|
|
|
8-29 |
LME markets closed for Summer Bank Holiday today.
* Another large gain Friday, as LME nickel inventories grew
by another 540 tons to total 9,510 tons. |
|
|
|
|
8-26 |
LME nickel stalled again today, closing at
$6.72/lb.
* LME nickel inventories got another good boost yesterday, adding
492 tons, taking the total to 8,970 tons. |
|
|
|
|
8-25 |
LME nickel ended the day at $6.73/lb, showing
very little movement in the last 3 days.
* Ahora.co.cu reported Cuba is investing heavily in the northeastern
province of Holguin, where the world's greatest reserve of cobalt and
nickel are found. Besides adding a third plant to produce ferro-nickel, an
11-km long conveyor belt is being built. In 2005, Cuba has a production goal
of 12,400 tons. By 2007, the article states, the potential could be as high
as 120,000 tons.
* LME nickel inventories gained 144 tons yesterday, to bring
the total to 8,478 tons. |
|
|
|
|
8-24 |
LME nickel closed at $6.73/lb.
* There are signs that the stainless steel market is starting
to pick back up.
* An additonal 150 tons added to LME stocks, brings the nickel
inventories to 8,334 tons. |
|
|
|
|
8-23 |
LME nickel ended the day at $6.74/lb.
* Another 78 tons added to LME inventories yesterday takes the
total to 8,184 tons. |
|
|
|
|
8-22 |
LME nickel ended the day at $6.86/lb as funds
showed renewed interest and the contract talks at Inco Manitoba keeps everyone
jittery.
* LME nickel inventories increased 72 tons on Friday to start
the week at 8,106 tons. |
|
|
|
|
8-19 |
LME nickel ended the day at $6.69/lb.
Metals market in wait and see mode as European and American vacation period
draws to an end.
* LME nickel inventories gained 108 tons to total 8,034 tons
- nearly back to where we were on Tuesday. |
|
|
|
|
8-18 |
LME nickel ends the day at $6.73/lb.
Global nickel consumption rose by only 1% in the first half of 2005
compared to the same period in 2004 according to the International Nickel
Study Group. The INSG said Chinese consumption had risen by over 30 per cent,
but global consumption was up by only one percent overall.
* LME nickel inventories gained 72 tons yesterday to total 7,296
tons. |
|
|
|
|
8-17 |
Nickel prices retreated again today, closing at
$6.80/lb.
* 18-8 stainless scrap moved back up last week, primarily due
to its iron content.
* While old news, here is a nice article from Australia, on
why nickel prices are so high and the future looks bright for Australian
mines
here
* After a huge gain, LME nickel inventories lost a chunk yesterday,
falling by 216 tons to total 7854 tons. |
|
|
|
|
8-16 |
LME nickel prices stepped back a little, closing at
$6.90/lb.
* Inventories of nickel on the LME swelled yesterday, with the
addition of 462 tons taking the total to 8,070 tons. |
|
|
|
|
8-15
 |
LME nickel ended the day at $6.99/lb. I am assuming
some of the 50 cent plus increase in the last week is due to the Inco
negotiations with their union that should be turning serious in the next
week or so. If Inco plans to settle, their market strategy would most likely
be to drag it out to the very end, and keep investors nervous. Nervous investors
gamble and drive the market up.
* Xstrata buys a 19.9% share in Falconbridge.
* LME nickel stocks gained 102 tons Friday to now total 7,608
tons.Nickel had a big day Friday, closing at $6.90/lb. |
|
|
|
|
8-11 |
LME nickel closes at $6.69/lb.
* LME nickel inventories gained 114 tons yesterday to total
7,392 tons. |
|
|
|
|
8-10 |
LME nickel ends the day at $6.66/lb. We are
all doomed now.
* Fed raises US interest rates 1/4% for the 10th time
yesterday.
* LME nickel inventories fell 48 tons yesterday to total 7,278
tons. |
|
|
|
|
8-9 |
LME nickel ended the day at $6.46/lb.
* Macquarie Bank is forecasting the price of nickel to
bounce between $4.50/lb and $6.35/lb until 2009. Consolidated Minerals is
forecasting $4.50/lb to $5.50/lb.
* Reports China has asked fabricators to cut back on their power
usage as hot summer is straining usage.
* All traders are watching the negotiations between Inco and
its Thompson mine workers, where the current contract expires on the 15th
of next month.
* Nickel inventories on the LME increased 72 more tons yesterday,
bringing the total on hand to 7,326 tons. |
|
|
|
|
8-8 |
LME nickel ended the day at $6.54/lb and oil
hit a record $63.99/barrel
* LME nickel inventories gained 72 tons Friday to total 7,254
tons. |
|
|
|
|
8-4 |
Next update - Monday August 8th
Nickel closed at $6.44/lb.
* PriceWaterhouseCoopers issues an 8 page report on market
sentiment
here
* An additional 24 tons added yesterday brings LME warehouse
totals of nickel to 7,182 tons. |
|
|
|
|
8-3 |
Weaker dollar makes metals more attractive, and LME nickel ends the day
at $6.50/lb.
* Yieh is reporting markets are nervous as Typhoon Matsa
approaches. Deliveries have been delayed since Typhoon Haitang caused severe
damage 2 weeks ago.
* US stainless buyers are seeing lower surcharges for August
* 48 more tons were added to the LME nickel inventories yesterday,
bringing the total to 7,158 tons. |
|
|
|
|
8-2 |
LME nickel ended at $6.39/lb.
* LME nickel inventories gained 120 tons yesterday to total 7,110
tons. |
|
|
|
|
8-1 |
LME nickel ends the day at $6.49/lb.
* Phelps Dodge predicting moly will sell in the $30/lb range,
or higher, during 3rd quarter of 2005, as China keeps numerous mines closed
for environmental reasons..
* LME nickel inventories slipped Friday by 48 tons to start
August at 6,990 tons. |
|
|
|
Nickel (average annual price) |
Molybdenum (average annual price) |
| 2001 |
$2.70/lb |
$2.36/lb |
| 2002 |
$3.07/lb |
$3.59/lb |
| 2003 |
$4.37/lb |
$5.21/lb |
| 2004 |
$6.28/lb |
$18.00/lb (approx) |
| Today |
$7.27/lb |
$38.50/lb |
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|