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Thursday, August 30
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$6.12/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses rose by 12 tonnes yesterday and
started today, as yesterday, just under the 240,700 tonne level. Nickel continues
to trade around the 200 day MVA currently at $6.12/lb. Stainless steel price
indexes in China show prices running about 3% higher than this time last
year, and up 3/4 of 1% in the last month. The steel price index however shows
steel prices in a decline since the 21st, after seeing large gains prior.
The Euro continues to make slight daily gains against the US Dollar, after
bottoming out for the year on August 15th. Not much in the way of news today,
as the summer vacation season comes to an end. Based on history, September
can be less than kind for nickel prices, so with long term fundamentals pulling
on one end, and questions about short term fundamentals pulling on the other,
the last third of 2018 could prove challenging to forecast..... as if they
weren't anyway. This is our last update for the week and final update for
August. US markets are closed Monday for Labor Day so our next update will
be Tuesday, September 4th. Have a safe and very relaxing weekend.
Average price of cash nickel so far this month - $6.11/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Aluminium slips from 2-month high as U.S. eases
metal import quotas -
more
US goes to WTO to challenge Russian response to Trump's steel tariffs -
more
Stocks Drop as Trade Worries Linger; Dollar Steady: Markets Wrap -
more
Wednesday's market review - Worries over Chinese demand weigh on copper
prices - Copper prices eased on Wednesday due to worries about demand in
top consumer China after a state planning official said there were increasing
risks to growth in the second half of the year. -
more
Global Nickel Market Suffered Shortfall in H1 2018 - WBMS estimated the mine
production during the six-month period at 1.027 million tonnes. -
more
The
Chinese Dream - China is a country of superlatives, of enormous capacities
and gargantuan appetites. With an estimated population approaching 1.4 billion
and a mid-ranking GDP per capita of $8,582 in 2017, it cannot be anything
but. -
download free Platts report here
Global
Steel Prices Stabilise Amid Uncertain Outlook - The consensus view of global
steel market participants is that they are uncertain about the future direction
of domestic pricing. -
more
African Battery Metals shifts focus to nickel/cobalt, relinquishes Sierra
Leone projects - Aim-listed African Battery Metals has decided to relinquish
its interests in gold and iron-ore projects in Sierra Leone to focus on its
newly acquired nickel and cobalt projects in Cameroon and Côte
d’Ivoire. -
more
Battle
brewing over mine south of Bancroft - There’s a battle brewing in this
tiny cottage community south of Bancroft over a proposed nickel, cobalt and
copper mine. -
more
New
Caledonia: boycotts and blockade - Preparations are under way for New
Caledonia’s historic independence referendum just two months away. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, August 29
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$6.20/lb
. Indicators
at 6:10 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and started today's
session just under the 240,700 tonne level. Nickel closed slightly higher
yesterday, but shy of the 200 day MVA line. This morning, the trading price
has moved lower once again. Lot of speculation out there is as the business
media tries to add reason to the unreasonable. In our opinion, the market
peaked on June the 5th, and has been in a summer slump since. This could
continue into the fall months, or end abruptly. Traders need to keep in mind
that nickel is the only LME metal with solid price gains so far this year,
so there is likely some hesitation to 'push ones luck'. The fundamentals
remain positive, so don't be surprised if we see some volatility return to
the market in the near future. The US and the President have a pretty important
election coming up in November, that could turn the next two years into a
mandate - or a lame duck session. In the mean time, trade war concerns are
hog tieing metals markets.
Average price of cash nickel so far this month - $6.11/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper slips on China demand risks, firmer
dollar -
more
Now is the Time to Prepare for Profits in the New Energy Paradigm -
more
Stocks Give Up Gains as Treasuries Rise; Euro Dips: Markets Wrap -
more
Tuesday's market review - Copper hits 2-week high encouraged by U.S.-Mexico
deal, lower dollar - Copper prices climbed to two-week highs on Tuesday as
the U.S.-Mexico trade deal raised hopes for an agreement between the United
States and China and as the dollar slipped. -
more
Care
to Contango? - Finished nickel demand is forecast to continue growing strongly
at 7.6% to 2.36Mt in 2018, following a 7.8% increase in 2017. Demand is forecast
to lift another 3.4% in 2019. -
more
Four
things that need to happen before PolyMet mine's future can be written -
PolyMet Mining moved a tiny step closer to its goal of opening the first
copper-nickel mine in Minnesota last week when the state Department of Natural
Resources declined an environmental group's petition for additional environmental
review on the proposed mine. -
more
Noront
continues research into Sault, Timmins - Negotiations are continuing between
Noront Resources and Algoma to determine whether an agreement can be reached
that would see the development of a ferrochrome facility on the
steelmaker’s property. -
more
(Press
Release) For the month of September 2018, North American Stainless will maintain
the fuel surcharge of 26% for stainless flat and long products. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, August 28
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$6.09/lb. Indicators at
6:15 am CST today show 3 month nickel trading around $.05/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Thursday and Friday and
started this shortened week just under the 241,500 tonne level. Since our
last update, nickel slipped back below the 200 day MVA once again, and therefore
out of the narrower channel. On Thursday, the 10 day MVA also moved below
the 200 day moving average, with the 30 day MVA threatening to follow suit.
Technically, all this is bearish. The fundamentals, however, remain bullish.
Traders appear to be taking the new Mexico-US trade agreement with a grain
of salt, looking north to our relations with Canada as more important to
metals demand ....and supply. Also, while answering reporters question during
the Mexico announcement, Trump stated the “It’s just not the right
time to talk right now, to be honest with China.” We are watching nickel
trade in a range we saw last in late January, and if the market gets any
more bearish, we could see any gains that nickel prices have made this year,
quickly evaporate. As for today, and since mid July, traders appear to be
looking at the 200 day MVA as both a line of support, and resistance. Have
a great week!
Average price of cash nickel so far this month - $6.11/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper drops as U.S.-China trade tensions cloud
demand outlook -
more
Overnight
market review - Shanghai zinc prices climb for 6th day as inventories plunge
- Shanghai base metal prices rose on Monday, with zinc climbing for a sixth
day and hitting a two-week high as inventories in China languish at their
lowest in a decade. -
more
Friday's
market review - Copper rises on weaker dollar but trade war drags on - Copper
rose on Friday, clocking its first weekly gain in four on a softer dollar,
though worries about Chinese demand are expected to cap gains as the
country’s trade dispute with the United States drags on. -
more
Price
of Ni-base CR SST in East Asia Shows No Sign of Recovery - It has been almost
one month since a multiple number of state-run steel makers in China, including
Taiyuan Kron and Steel ('Taiyuan'), have requested the Chinese government
to conduct an anti-dumping (AD) investigation on stainless steel (SST),
hot-rolled steel coil (HRC), and heavy plate imported from Indonesia, Japan,
South Korea, and the EU. No visible changes have occurred to the SST market
so far. -
more
Stainless
steel producers hopeful of Govt removing duty on ferro nickel - Stainless
steel industry body ISSDA is expecting the government to look into the demands
of local players to remove 2.5 per cent basic customs duty on import of ferro
nickel and stainless steel scrap -
more
Meet
the Canadian miner that plans to shake up the nickel industry - If Royal
Nickel Canada succeeds, it would show how Chinese demand for raw materials
can stimulate the expansion of Canadian mining -
more
The
Outlook for Nickel Miners - In January of 2016 a Reuters Poll of analysts
covering the base metals index (aluminum, copper, lead, nickel, and tin)
saw a majority predicting an end to the price rout in the index that commenced
in 2011. -
more
Courtesy
AISI - In the week ending on August 25, 2018, domestic raw steel production
was 1,858,000 net tons while the capability utilization rate was 79.3 percent.
Production was 1,767,000 net tons in the week ending August 25, 2017 while
the capability utilization then was 75.8 percent. The current week production
represents a 5.1 percent increase from the same period in the previous year.
Production for the week ending August 25, 2018 is down 0.3 percent from the
previous week ending August 18, 2018 when production was 1,864,000 net tons
and the rate of capability utilization was 79.5 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, August 23
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$6.13/lb. Indicators
at 6:25 am CST today show 3 month nickel trading around $.12/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell slightly on Wednesday and
started today's session just under the 243,600 tonne level. Traded nickel
prices have fallen back below the 200 day MVA today, and have dragged the
10 day below the 200 day as well. This is another bearish signal from a technical
stand point. From a fundamental stand point, the news remains tilted to the
bullish side, where the ever dwindling stockpiles are the primary focus.
The threat to the 'rate' of that decrease appears to be a potential
slowdown in China. A Chinese stimulus package would encourage traders, but
some economists say it would help steady their economy at best, yet not help
it recover into stronger growth. So that is your primary threat to nickel
consumption at the time. If we can get this tariff war behind us, then the
long term outlook for nickel remains positive. US stainless steel surcharges
for September have been updated
(here).
They are down for a second month, and basically back to May levels. LME markets
will be closed on Monday for Summer Bank Holiday so our next update will
be on Tuesday the 28th. Have a safe and relaxing weekend!
Average price of cash nickel so far this month - $6.12/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper drops for 2nd day as trade war escalates
-
more
U.S., China Impose New Tariffs on Each Other as Talks Resume -
more
Dollar Climbs, Stocks Steady Ahead of Jackson Hole: Markets Wrap -
more
Wednesday's market review - Copper down as hopes for progress on trade
dispute fade - Copper prices slipped on Wednesday as worries about demand
resurfaced ahead of trade talks between the United States and China that
are seen as unlikely to yield progress. -
more
European
stainless steel alloy surcharges down again in September - Monthly alloy
surcharges on austenitic grades of stainless steel flat-rolled products in
Europe are set to fall for a second successive month in September, first
mill announcements indicated. -
more
PolyMet
still facing hurdles to proposed mine - With the prospect that the Department
of Natural Resources could grant provisional approval of a permit-to-mine
for the proposed PolyMet copper-nickel mine near Babbitt and Hoyt Lakes later
this fall, many residents of those communities are anticipating potential
new employment opportunities. -
more
Galileo eyes shallow nickel targets at Nightmarch - The Mark Creasy-backed
Galileo Mining says it has pinpointed shallow nickel-copper-cobalt targets
at its flagship Fraser Range project, with similarities to the prominent
prospector’s Nova and Silver Knight discoveries. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, August 22
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$6.23/lb
. Indicators
at 6:55 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and started today's
session just under the 243,700 tonne level. Metals recent bullish run could
be in trouble, or at the very least, showing signs of losing some of its
earlier enthusiasm. Business media seems to be blaming President Trump's
potential legal problems as a reason. We don't buy that but feel the optimism
behind the US and China economic meetings is beginning to wain. Not a lot
of business news so far this week. Summer season in its last few weeks. We
made our update by our promised time of 8 am CST but we know our regular
readers are used to seeing our morning post uploaded by 6:30 am, so like
you, we feel like we are running behind. Still suffering the after effects
of the flu, so please bear with us.
Average price of cash nickel so far this month - $6.12/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper slides as hopes for progress on trade dispute
fade -
more
US senators call for tough policy on Rusal; Treasury says Deripaska is target
-
more
U.S. Futures Slip on Trump Legal Woes; Euro Rises: Markets Wrap -
more
Tuesday's market review - Copper climbs to one-week high as dollar
slides - Copper climbed to one-week highs on Tuesday as funds cut bets on
lower prices and the dollar retreated from recent highs while the market
waited for talks on the U.S.-China trade dispute. -
more
WBMS
January to June 2018 Metals Balances - The Nickel market was in deficit during
January to June 2018 with apparent demand exceeding production by 22 kt.
In the whole of 2017 the calculated deficit was 76.0 kt. Reported stocks
held in the LME at the end of June 2018 were 95 kt lower than at the end
of the previous year. Refined production in January to June 2018 totalled
934.3 kt and demand was 956.1 kt. -
source
Talks held over New Caledonia mine closure - A first meeting has been held
in New Caledonia between traditional leaders and a group of protesters blocking
the Kouaoua mining site. -
more
FNI
nickel-ore output in H1 down by 19% - Global Ferronickel Holdings Inc. (FNI)
said its nickel-ore shipment in the first half fell by 19 percent to 1.55
million wet metric tons (WMT) as the firm shifted to higher-grade minerals
to capitalize better prices in the world market. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, August 21
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$6.15/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell overnight and stated today's
session just under the 245,100 tonne level. Nickel continues to climb back
from last weeks meltdown. We show the 100 day MVA around $6.44/lb so that
is where we put resistance. That gives nickel plenty of room to roam, should
it continue its current upward trend. All eyes remain on the scheduled talks
between the US and China.
Average price of cash nickel so far this month - $6.11/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper above $6,000/T; up 2nd day as base
metals rally -
more
Trump Accuses China, EU of Currency Manipulation -
more
Dollar Weakens on Trump Fed Remarks; Stocks Climb: Markets Wrap -
more
Monday's
market review - Copper rises on hopes of U.S.-China trade progress - Copper
edged higher on Monday, bouncing back from its third straight week of losses
in a sign of market optimism over planned trade talks between China and the
United States and a view that the recent decline in metals was overdone.
-
more
(written last Thursday) Is the metals rout signal or noise? The zinc
perspective: Andy Home - The London Metal Exchange (LME) base metals markets
were a scene of carnage on Wednesday. -
more
Price
of HC FeCr in China Continues Tapering down = Price in main production area
is CNY300 cheaper than prior month = The price of high-carbon ferro-chrome
in the Chinese domestic market began to drop in July, and continues tapering
down in early August as well. -
more
Indonesian Ni-base HRC to Taiwan Reaches 60,000 Tons - According to informed
sources, the export volume of nickel (Ni)-base stainless steel (SST) hot-rolled
coil (HRC) from Indonesia to Taiwan has recently reached 60,000 tons per
month. It was reported as 20,000 tons per month only a few months ago, but
seems to have tripled at a stretch. -
more
Good
news for nickel; cobalt not so much as China battery giant reveals plans
- China’s biggest lithium battery maker has announced it will need less
cobalt next year — though it will increase its use of nickel. -
more
No
current sale process for Nickel West - There has been market talk that BHP
is running a fresh sale process for Nickel West, but CEO Andrew Mackenzie
said today that was not the case. -
more
Ex Glencore bosses try to snatch nickel asset - Mining giants Glencore and
Barrick could have a prospective nickel and cobalt project taken from under
their nose, if plans being hatched by ASX-listed Jervois Mining come to fruition.
-
more
Courtesy
AISI - In the week ending on August 18, 2018, domestic raw steel production
was 1,864,000 net tons while the capability utilization rate was 79.5 percent.
Production was 1,767,000 net tons in the week ending August 18, 2017 while
the capability utilization then was 75.8 percent. The current week production
represents a 5.5 percent increase from the same period in the previous year.
Production for the week ending August 18, 2018 is up 0.5 percent from the
previous week ending August 11, 2018 when production was 1,855,000 net tons
and the rate of capability utilization was 79.1 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, August 20
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Thanks
to an apparent virus picked up over the weekend, we are unable to update
the news site beyond the basics today. We apologize for this inconvenience,
and really hope tomorrow brings a resumption of health .... and updates.
Three month nickel closed Friday's trading session at
$6.11/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.05/lb
higher. Stockpiles
of nickel stored in LME licenses warehouses fell on both Thursday and Friay
and started the week just over the 246,500 tonne level. Low level talks between
China and the US were announced last Thursday, and metals have been rising
ever since. Nickel is trading back in its 100 day to 200 day MVA channel.
Average price of cash nickel so far this month - $6.11/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper rises on hopes of U.S.-China trade progress
-
more
Friday's
market review - Copper posts biggest weekly fall since early July - - Copper
inched lower on Friday, posting its largest weekly fall since early July
as strikes, including at the world's largest mine, seemed mostly resolved
but a weaker dollar provided some support. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, August 16
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.83/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.15/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Wednesday and started
today's session just over the 247,500 tonne level. Nickel had a really bad
day yesterday, with nickel hitting and eventually closing at levels not seen
since early April. This is a second close below support, and because of this,
that line, today at $6.11/lb, now becomes a minor line of resistance. That
is if you are a technicals trader. On a fundamentals side, the market had
turned toxic with a constant stream of tariff's and counter tariff's, political
moves and reprisals, causing traders to wonder if the world was shooting
itself in the foot. Today, LME traders are once again leading, disregarding
the fall in overnight Shanghai prices. At the moment, nickel has rebounded
nicely, but has a ways to go before it can claim a complete recovery from
yesterday's rout. The market is bearish in the short term, neutral for the
mid term, and remains bullish for the long term. The 30 day MVA, which isn't
near as volatile as the 10 day, has been in a decline since late June,
possibly reflecting the markets anticipation of the typically slower summer
season. If that is true, then the pickup in the nickel market in September
could potentially turn the tables, or at the very least, add some stability.
That is subject to the unpredictable and ever present threat of future tweet.
This is our last update for the week, so we wish each of you a safe and relaxing
weekend and invite you back next week.
Average price of cash nickel so far this month - $6.13/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Base metals claw back ground on fresh U.S.-China
trade talks -
more
Ukraine's Jan-Jul imports of nickel ore up 13.4% to 891,670 million mt on
year -
more
The Man Who Triggered a $10 Billion Commodity Collapse Finally Speaks -
more
Best commodity bets? Exposed to China and less open to trade: Russell -
more
Dollar Drops With Treasuries on Trade-Talk Plans: Markets Wrap -
more
Wednesday's market review - Global growth concerns hit prices of industrial
metals - Industrial metal prices tumbled on Wednesday on concerns about the
hit to global growth and demand from trade disputes and political tensions,
as well as a stronger dollar. -
more
Metals Poisoned by Turkey Contagion as Copper Nears Bear Market -
more
Commentary: Nickel is dancing to a new electric (vehicle) beat - The
world used almost 2.2 million tonnes of nickel last year. Around two thirds
of that metal was absorbed by the stainless steel industry, which uses it
as a key alloying agent. -
more
Indonesia temporarily revokes nickel ore, bauxite export permits of 4 miners
- Indonesian government temporarily revoked nickel ore and bauxite export
permits of four companies citing zero progress in smelter development, energy
ministry data showed on Thursday. -
more
Mediation call after New Caledonia mine closure - New Caledonia's
environmentalist group Rheebu Nuu has called for mediation over this week's
closure of the nickel mine in Kouaoua -
more
US
may impose duties on Indian steel imports - The Trump administration may
impose antidumping duty and countervailing duty on imports of stainless steel
flanges from India citing unfair pricing of these products even as the two
countries chalk out a way to resolve their bilateral trade issues. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, August 15
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$6.09/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.16/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell slightly on Tuesday and
started today's session just over the 248,300 tonne level. Thru the end of
July,we witnessed an average daily decline of 764.3 tonnes per day, bringing
stockpiles down from 366,612 tonnes to 254,262. As of today, we have seen
stockpiles decline by an average of 701.45 tonnes, reflecting the summer
slowdown ... but not by much. If nickel stockpiles were to continue to decline
by this month's levels, we would see LME stockpiles disappear in 354 working
days - or around February 2020. That is using the slowest month of declines
we have seen thus far this year. Using the average of the first seven months
of the year, would knock a couple of months off that estimate - or December
of next year. That is for those of you still interested in the fundamentals.
For those interested in the technicals, nickle appears to be in trouble.
Closing below the 200 day MVA and line of support yesterday, nickel is dropping
like a rock this morning A second close below support will send a negative
short term technical signal to the market. All base metals are falling this
morning, with most in the 2 to 3% negative range at the moment. This appears
to be mostly a follow the leader move of the Shanghai Futures Exchange
significant drop overnight. LME traders are used to seeing traders on the
Shanghai market play follow the leaders to them, so when the tables turn,
it draws a lot of attention. The US Dollar is also trading at an annual high,
adding negative pressure on trading as well. At the moment, LME traders are
trading at levels not seen since early April of this year.
Average price of cash nickel so far this month - $6.16/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - LME copper hits 1-yr low as Chile mine union plans
to avert strike -
more
Stocks Decline as Caution Lingers; Lira Advances: Markets Wrap -
more
Tuesday's market review - China data increases pressure on copper price
- Copper fell on Tuesday towards the one-year lows of last month as sentiment
already floored by the Turkish lira crisis took another knock from data
suggesting weaker demand in China. -
more
New Caledonia party wants Paris to act over mine woes - The Caledonia Together
party has called on the French state to take urgent action after the SLN
nickel company closed its mining operations in Kouaoua. -
more
Pramod
Mittal, daughter quit Gontermann-Peipers Board - Pramod Mittal, the younger
brother of global steel tycoon Laxmi Mittal, has quit from the listed Indian
corporate's that controlled by his Ispat group. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, August 14
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$6.15/lb. Indicators
at 6:15 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Monday and started today
just over the 248,700 tonne level. Nickel fell sharply yesterday, and today
is trying to hold itself inside the larger 100 and 200 day MVA channel. At
the moment, trading is slightly below this channel , with the 200 day at
$6.10/lb. We fell out and below this channel for three sessions a few weeks
back, but the market was able to keep from closing two consecutive times
below, so its support power was confirmed. We appear to be testing that again.
SLN has stopped its production of nickel in New Caledonia due to an environmental
protest there, and declared force majeure. Norilsk has added its voice to
nickel mines expecting prices to increase in the future, thanks to the expected
electric car boom. The average price for cash nickel for the first seven
months of 2018 has been $6.29/lb, higher than its averaged the last three
years, but still much lower than it averaged in 2014..
Average price of cash nickel so far this month - $6.17/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - China data increases pressure on copper price -
more
(SO) NBS: China’s crude steel output up 6.3 percent in January-July
Stocks Rebound as Turkey Calms; Dollar Declines: Markets Wrap -
more
Little change in the tropical Pacific; El Niño remains possible in
2018 - more
Monday's
market review - Copper falls as Turkish crisis sweeps through markets - Copper
prices moved lower on Monday as a currency crisis engulfing Turkey rippled
across markets and prompted investors to dump riskier assets. -
more
New Caledonia protest prompts SLN mine closure - The SLN nickel company in
New Caledonia has decided to close indefinitely its mining site at Kouaoua,
saying security can no longer be assured for its staff and its installations.
-
more
Electric
car bets boosting nickel demand, Nornickel says - Expectations of a boom
in demand for electric vehicles are leading investors and battery makers
to stockpile nickel and helping to fuel a spike in global prices of the metal,
Russian mining company Norilsk Nickel said on Monday. -
more
How
Canada’s Mining Sector Impacts the Economy - Canada is a mining nation.
From the Rockies to the Canadian Shield, and from the Plains and to the North,
the variety of geology that exists in the country is immense – and this
has created a large and unique opportunity for groundbreaking mineral
discoveries. -
more
Courtesy
AISI - In the week ending on August 11, 2018, domestic raw steel production
was 1,855,000 net tons while the capability utilization rate was 79.1 percent.
Production was 1,767,000 net tons in the week ending August 11, 2017 while
the capability utilization then was 75.8 percent. The current week production
represents a 5.0 percent increase from the same period in the previous year.
Production for the week ending August 11, 2018 is up 1.5 percent from the
previous week ending August 4, 2018 when production was 1,828,000 net tons
and the rate of capability utilization was 78.0 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, August 13
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$6.27/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
started this week just under the 248,800 tonne level. Nickel seems to be
using the 60 day MVA line as a guide, or at least it did the latter part
of last week. For the last three days of the week, nickel closed near the
still sagging average line. More tariff news is causing concern in the market,
with China announcing new reciprocal tariff's late last week. In Russia,
Putin apparently has turned his eyes on his mining oligarch's as a potential
source for new revenue. Russia's ruble took a tumble last week, after Washington
announced new sanctions against the Russian leader for the poisoning incident
in England. Should be a quiet week with nickel prices, but that is more of
a hope than based on the reality of the times. From a technical standpoint,
with nickel hugging the 60 day MVA, which is nearing the 10 day MVA, we have
a potential squeeze setting up. If this happens we could see nickel make
a sudden 'break out' movement in either direction. Don't really see this
happening but its worth mentioning, since sometimes the market needs very
little motivation to make a move. Hope the week is a good and profitable
one for you.
Average price of cash nickel so far this month - $6.16/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper sags as dollar strengthens on Turkish
crisis -
more
What's driving China's record steel production? -
more
Market views mixed on impact of China's 25% tariff on US ferrous scrap -
more
Bayer sued over Essure contraceptive that allegedly caused nickel poisoning
-
more
Stocks, EM Currencies Drop as Turkey Fever Spreads: Markets Wrap -
more
Yesterday's market review - Copper gives up gains as dollar rises to
13-month high - London copper prices gave up early gains to trade lower on
Friday, weighed down by a stronger dollar and slumping equities, even as
the prospect of strikes at copper mines in Chile drew nearer. -
more
Putin
wants $7.5 billion Russian miners tax discussed, shares drop - Vladimir Putin
has ordered that a proposal to raise 500 billion roubles ($7.5 billion) a
year from metal and mining firms be looked at, but the Russian president
has not decided whether to approve the plan by a Kremlin economic aide. -
more
Major fire in Port of Antwerp triggers disaster plan - A major fire in the
port of Antwerp has been brought under control, the port authority said,
but could go on burning for the rest of the week. -
more
No end in sight for New Caledonia nickel protest - There is no end in sight
to a protest in the north of New Caledonia which has paralysed the nickel
mine at Kouaoua. -
more
Russian revelation behind nickel boom - Legendary mining scientist
Roy Woodall used his Kalgoorlie-Boulder Walk of Fame plaque unveiling yesterday
to tell the story of how “secret Russian technology” smuggled into
Australia helped him discover the Goldfields’ rich nickel deposits.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, August 9
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$6.37/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just over the 249,700 tonne level. While no different than any other total,
nickel falling below the 250,000 tonne level is a psychological barrier than
has now been busted. The last time we recorded the 250,000 tonne total was
back on November 27, 2013, and at that time, we were on the way up. That
was 5 years ago, and 5 years prior to that, stockpiles were running under
50,000 tonnes, and were recovering from 2007, when nickel stockpiles, for
all practical purposes, ran out. So from 2007 until June 2015, when stockpiles
maxed out at 470,000+ tonnes, we were on the increase in stockpiles numbers.
The decreases began in the fall of 2015, and we are currently in year three
of declining stockpiles. There is no reason whatsoever to think the decline
in stockpile numbers will stop anytime soon. Nickel closed above the
$14,000/tonne level yesterday, and unless something turns the market negative
today, it should do so for a second time today. Not sure how important that
is technically to computer driven trades, but it is another psychologically
important level for human traders. As far as we know, there are no operating
nickel mines within the borders of the United States. A Chilean based company
wants to build an open pit copper and nickel mine in northeastern Minnesota
and after years of legal wrangling, the Vice President has announced in a
political rally ,that the state will get one and they can "bank on it". This
is our last update for the week, and we wish each of you a safe and entertaining
weekend, and invite you back next week.
Average price of cash nickel so far this month - $6.13/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Shanghai aluminium jumps to near 2-month closing
high on Alcoa strike -
more
Commentary: Has no-one told the steel market there's a trade war on? -
more
China Announces Date to Match $16 Billion U.S. Tariffs -
more
Wednesday's market review - Copper ends flat but trade war pressure
builds - Copper ended mostly unchanged on Wednesday as the United States
geared up to begin collecting tariffs on a further $16 billion of Chinese
goods later this month but a weaker dollar stemmed losses. -
more
China's
AD Investigation on HR SST Affecting Taiwan and S. Korea - It has been 10
days since Ministry of Commerce of the People's Republic of China began its
anti-dumping (AD) investigation on hot-rolled (HR) stainless steel (SST)
and semimanufactures from Indonesia, Japan, South Korea, and the EU. -
more
More tension at New Caledonian nickel company - There is fresh tension at
a mining site of the SLN nickel company in the north of New Caledonia. According
to local meda reports, access to the mine at Kouaoua is being blocked by
about 40 people opposed to expanded exploitation despite its approval by
the provincial government. -
more
Pence
promises growth for copper-nickel in stumping for Stauber - Vice President
Mike Pence blew in and out of Duluth on Wednesday, Aug. 8, in less than four
hours, promising while he was there to capitalize on an economy growing in
chunks, he said, for the first time in 16 years. -
more
Arsenic, nickel released from grill racks, German authority finds - Some
enamelled racks for use with gas or charcoal grills could be releasing unsafe
levels of nickel and arsenic into food, according to a report from German
authorities. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, August 8
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$6.28/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and started today
just over the 250,500 tonne level. Nickel is on the 'after conference' bull
run we expected, and is now trading above the 10, 30 and 200 day moving averages,
with $6.45/lb on the 100 day the final to beat. Having traded below $13,100/tonne
on Friday, today's trading above $14,000 gives one an idea of the bullish
run the conference has given. With tariff talks expected to pick up in the
next few days, the 100 day line of resistance may hold a little longer -
or not. Speaking of the conference, Diggers & Dealers ended in Australia
today, with nickel's forecasted bright future the main topic of discussion.
Here is an example of what and why traders are talking about nickel.
In 2015, in the month of June, the world saw nearly 44,000 electric vehicle
sold worldwide. In June 2016, that number stood near 70,000, and by 2017,
the number jumped to over 102,000. This June, the world saw nearly 158,000
electric vehicles sold. Those vehicles need batteries, and batteries need
nickel. Lots of it. And oil is playing right into the electric vehicle market's
appeal again, so don't expect sales to slump anytime soon.
Average price of cash nickel so far this month - $6.09/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper gains as dollar rally wanes, nickel hits
1-week high -
more
S & P - China's July steel exports drop 15% on month, on year at 5.886
mil mt -
more
Don’t hold your breath - 2+42 Chinese steel-producing cities -
more
Stocks Mixed Amid New Trade Duties; Dollar Steady: Markets Wrap -
more
Tuesday's market review - Zinc, copper gain on short-covering amid
optimism on China - Base metals rose on Tuesday on short-covering amid optimism
top consumer China will prop up its economy with stimulus measures and that
the country’s currency is stabilising. -
more
The
price of nickel could double as demand grows for stainless steel and batteries
- Nickel miners are a lot more optimistic about the market than they have
been in a long time thanks to strong demand for stainless steel and lithium-ion
batteries to power electric cars. -
more
LME Ni Average Price in July Down by 9% from Prior Month = Declining trend
continues, and price drops to the US$13,200 range = LME monthly average nickel
price in July 2018 was Cash seller: US$13,772.05 per ton (US$6.247 per lb)
and 3-month seller: US$13,868.86 per ton (US$6.291 per lb). -
more
Market
intelligence from China - August 8, 2018 - The port inventory of nickel ore
has been climbing since July 2018, and 3Q is the peak season for the supply
of nickel ore from the Philippines. -
more
Nickel’s steely resolve shines through for miners at this year’s
Diggers & Dealers - As the global economic outlook continues to improve,
the unmissable overarching theme at this year’s Diggers & Dealers
has been nickel’s turnaround, with most analysts, miners and explorers
alike believing the commodity’s upturn has only just begun. -
more
Philippine miner Nickel Asia holds H1 ore shipments steady at 8.89 mil wmt
- Nickel Asia sold 8.89 million wet mt of ore from its four operating mines
in the first six months of the year, relatively stable from 8.92 mil wmt
a year earlier, the miner said Monday in a filing to the Philippines Stock
Exchange. -
more
Merafe production of ferrochrome hit hard by rising costs - Merafe Resources
said yesterday that ferrochrome production from its Glencore-Merafe chrome
venture fell 2.3 percent in the six months to end June to 211000 tons as
costs per ton increased 4.8percent from December. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, August 7
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$6.21/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.09/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Monday and started today
just over the 251,400 tonne level. Nickel closed above support ( 200 day
MVA) for a second session yesterday, which has sent a positive technical
signal to the market. Nickel is trading back in the channel between the 200
day MVA ($6.08/lb) and the 100 day MVA ($6.45/lb). For the most part, nickel
has traded in this channel since early July, having tested resistance a couple
of times since. Diggers & Dealers has completed Day 2 - for detailed
coverage here are a few links - Diggers & Dealers Twitter-
here /
Australia media coverage -
more
Other than news from the conference, industry news is on the light
side. Stainless steel prices in China are running 3.68% higher than this
time last year, and 1.1% higher than last month, according to a Chinese steel
index we follow. Steel, in the same period, is up 14.5% and 2.28%.
Average price of cash nickel so far this month - $6.05/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper rises on softer dollar, but trade woes weigh
on market -
more
Russia's Rusal shuts down Nadvoitsky plant due to U.S. sanctions -
more
Stocks Jump as Focus Turns to Results; Dollar Dips: Markets Wrap -
more
Monday's
market review - Growth worries see copper retreat further - Copper prices
slid on Monday due to worries about the damage to global economic growth
from the trade dispute between the United States and its trading partners
and a stronger dollar. -
more
Safeguard
quotas provide little support to EU stainless prices - Looser than expected
provisional safeguard measures will provide little support for European prices
near-term. -
more
Miners Set to Spend $11 Billion in Search of the Next Jackpot - Miners and
investors are poring over satellite images, tracking drilling rigs and quizzing
company executives for clues on whether the sector’s heavyweights are
close to a new jackpot discovery. -
more
Diggers & Dealers: BHP reveals 2040 vision for Nickel West -
BHP’s Nickel West business unit is progressing a series of mine developments
in Western Australia to strengthen supply for the battery materials sector.
-
more
Market
Trend of Import of Ferroalloy as of 31 July 2018 = Anticipation of price
hike of EMM is enhanced in China = In China, alteration of export procedures
effective from August 1 was officially announced last week, but many of the
shippers have yet to cope with this, and the shipment of the contract balance
in August has a likelihood of being delayed. -
more
Courtesy
AISI - In the week ending on August 4, 2018, domestic raw steel production
was 1,828,000 net tons while the capability utilization rate was 78.0 percent.
Production was 1,752,000 net tons in the week ending August 4, 2017 while
the capability utilization then was 75.2 percent. The current week production
represents a 4.3 percent increase from the same period in the previous year.
Production for the week ending August 4, 2018 is down 0.4 percent from the
previous week ending July 28, 2018 when production was 1,836,000 net tons
and the rate of capability utilization was 78.3 percent. -
source
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, August 6
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$6.00/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.08/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Thursday and Friday and
started the week just over the 251,800 tonne level. Nickel is trading below
$6/lb for the first time since late March. Nickel has traded below, along,
and just over the 200 day moving average for the last three sessions, closing
below it last Thursday, just above it on Friday, and now trading back below
it this morning. Technical traders would see this as a very bearish signal.
With Diggers & Dealers going on in Australia this week, we doubt bearish
is a term they will be using often there.
(Follow the
meeting tweet here) After trying to dump nickel all together last year,
BHP is apparently going 'whole hog' the other way this year, announcing it
wants to be able to provide all the nickel to the battery-grade nickel sulphate
plant it is constructing, and is back to exploring for future nickel mine
sites in Australia. More news that would not be seen as bearish by most.
Hard to see where nickel might end this week. The short and mid term trends
remain negative. Technicals could turn bullish if nickel traders are able
to climb above the 200 MVA and stay there, which at the moment, looks doubtful.
Industry meetings like Diggers & Dealers tend to give metals a boost,
especially when the fundamentals look as positive as they do now. So who
knows - this is why traders scurry and nickel producers and consumers worry.
Average price of cash nickel so far this month - $6.07/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - LME copper slips on firmer dollar after China tariff
response -
more
(SO) China’s stainless steel output rises by 13.23 percent in H1
Nickel, Copper, Cobalt to Be 'Big Winners' in Energy Storage, IGO CEO Says
-
video here
Stocks Mixed as Trade Gloom Endures; Pound Falls: Markets Wrap -
more
Friday's
market review - Copper edges higher but still on path to end the week lower
- Copper turned positive on Friday as the dollar lost ground after
weaker-than-expected U.S jobs data, but the metal was still on track to end
the week lower as trade tensions between the United States and China weighed.
-
more
LME warehousing shrinks, casualties mount: Andy Home - The business
of providing warehousing services to the London Metal Exchange (LME) is becoming
brutal. -
more
Sumitomo says Ambatovy to miss FY18/19 nickel output target of 48,000 T -
Japanese trading house Sumitomo Corp expects that nickel output at its Ambatovy
project in Madagascar will likely fall short of its earlier target of 48,000
tonnes in the year to March 2019, its chief financial officer said on Friday.
-
more
BHP boosts nickel mining, exploration investment amid electric vehicle boom
- Global miner BHP is plowing more investment into nickel mine development
and exploration in Western Australia, seeking to secure its own supply of
a key material in batteries needed to meet booming demand for electric cars.
-
more
China Interested in Building Nickel Factory in North Maluku - Minister of
Industry Airlangga Hartarto said that Chinese investors are interested in
building a nickel factory in North Halmahera, North Maluku, to process the
nickel that is a component of a lithium battery. -
more
Worker dies in Noumea nickel smelter mishap - A worker died in an accident
at a nickel smelter in the New Caledonian capital of Noumea on Monday, said
the plant's operator Societe le Nickel, a subsidiary of French conglomerate
Eramet SA. -
more
Press
Release - For the month of August 2018, North American Stainless will maintain
the fuel surcharge of 26% for stainless flat and long products. The surcharge
rate is considered a maximum level for August, and will be reviewed monthly.
-
source
Independence Group readies for charge into nickel processing - Mid-tier miner
Independence Group has started eyeing off sites for a large-scale processing
plant to produce nickel sulphate for battery manufacturers. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, August 2
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$6.16/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell slightly on Wednesday and
started todays session just under the 254,100 tonne level. After teasing
the high end of the 100 day to 200 day moving average channel nickel has
been trading in, yesterday's threat from the Trump administration saw the
trading price of nickel fall over 3% where it now hugs the low end of the
range. The 200 day MVA stands at $6.07/lb today, and that is your major technical
support. It has already been tested a few times in the last 24 hours and
so far, has held. For now, nickel's momentary peak above the $14,000/tonne
level is over. Industry news has quieted significantly since the calendar
turned to August, and this is seasonably typical. This is our last update
for the week, and we hope each of you has a safe and relaxing weekend. We
invite you to check in with us next week as we continue to follow nickel,
and its effect on stainless steel pricing.
Average price of cash nickel so far this month - $6.25/lb
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - Copper prices drop further despite Escondida strike
vote -
more
Get used to low-grade iron ore discounts, WA miners told as China clears
the air -
more
China's Steelmakers Are Smashing Production Records -
more
Fire knocks out furnace at Nucor steel plate mill in Longview, Texas -
more
Ask the Doctors: Allergic reactions to nickel are quite common -
more
Stocks Slump as Trade Fears Return; Dollar Climbs: Markets Wrap -
more
Wednesday's market review - Copper slides on new trade tensions, worries
on China growth - Copper and other base metals slipped on Wednesday on fears
of slower demand due to renewed U.S.-China trade tensions and worries about
slowing growth in top metals consumer China. -
more
ArcelorMittal ups steel consumption forecast to 2-3% for 2018 - Based
on the ongoing positive economic outlook ArcelorMittal (AM) reviewed its
forecast of the apparent steel consumption growth for 2018 to 2-3% from 1.5-2.5%,
the company said in its Outlook and Guidance statement on Wednesday. -
more
LME to trial electronic closing prices for nickel next year - The London
Metal Exchange (LME) launched on Wednesday a consultation to trial in the
first quarter of next year the use of its electronic system to determine
closing prices of the three-month nickel contract instead of open outcry.
-
more
Mincor Grows Australian Nickel Presence with Cassini Resource - A new
indicated and inferred resource for Mincor’s Cassini prospect has boosted
the mineral resource for the company’s Kambalda holdings to 118,000
tonnes of contained nickel. -
more
Clive
Palmer mocks Chinese conglomerate CITIC over mine closure threats - Clive
Palmer has mocked giant Chinese conglomerate CITIC Ltd over claims it could
shut down the $US12 billion ($16.2 billion) Sino Iron operations in Western
Australia. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, August 1
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$6.36/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.08/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and started the
new month just under the 254,300 tonne level. On this day last year, stockpiles
of nickel monitored by the LME totalled 372,936 tonnes. But here is the kicker.
They were still growing, and would not peak out until they hit 389,154 tonnes
on August 31st. Thus the decline we have all been monitoring has been been
taking place over the last eleven months. It will be interesting to note
where they stand at the end of this month and a full 12 months of decline.
Yesterday, the commodities headlines where positive based on the rumors that
the US was working with China to resolve their trade issues. That ended
overnight, and now both sides are back to saber rattling, with Trump officials
expected to announce new tariff's as early as today. Nickel ended yesterday's
session over the $14,000/tonne level for the first time since July 9th, but
continues to trade within the 100 and 200 day moving averages. It is also
trading inside the 10 and 30 day moving averages, which are setting up another
potential squeeze play, but traders may ignore that one. It's a new month
and may it be a successful one for our readers.
Average price of cash nickel so far this month - $6.25/lb (average for
July)
Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb /
2015 - $5.37/lb / 2014 - $7.65/lb
Reports
Reuters metals morning - London copper starts August weaker on U.S. tariff
threat -
more
China vows retaliation if Trump slaps 25 pct tariff on $200 bln of Chinese
imports -
more
Stocks Turn Lower as Trade Fears Hit Commodities: Markets Wrap -
more
Tuesday's market review - Copper rallies on report U.S., China to restart
trade talks - Copper prices climbed on Tuesday as the market took heart from
a report that the United States and China are looking to resolve trade
differences, while labour negotiations at major producer Codelco helped lift
sentiment. -
more
EU
Safeguard Measures Influence Stainless Steel Purchasing Behaviour - The
EU’s recently announced temporary quotas and tariffs on steel imports,
arising from the Commission’s safeguarding investigation, might have
been expected to push prices of stainless steel upward, in the European market.
- more
Nickel
price increases likely to put pressure on plastic automotive components says
UK manufacturer - A UK manufacturer of a metal-plated plastic automotive
components says the increasing price of nickel is likely to put pressure
on the price of parts. -
more
Courtesy
AISI - In the week ending on July 28, 2018, domestic raw steel production
was 1,836,000 net tons while the capability utilization rate was 78.3 percent.
Production was 1,733,000 net tons in the week ending July 28, 2017 while
the capability utilization then was 74.3 percent. The current week production
represents a 5.9 percent increase from the same period in the previous year.
Production for the week ending July 28, 2018 is up 1.2 percent from the previous
week ending July 21, 2018 when production was 1,815,000 net tons and the
rate of capability utilization was 77.4 percent. -
more
Dangerous
sulfur dioxide levels at Kola nickel plant are dropping, cheering
environmentalists - Dangerous emissions from the Kola Mining and Metallurgy
Company dropped by nearly 9 percent during 2017, says data from the company,
marking, according to its figures, a significant drop in pollution over the
previous year. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
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us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(7:00 AM CST is 12 PM in London)
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
Reports
Commodity/Economic Comments
Wednesday's market review - Worries over Chinese demand weigh on copper
prices - Copper prices eased on Wednesday due to worries about demand in
top consumer China after a state planning official said there were increasing
risks to growth in the second half of the year. -
Global Nickel Market Suffered Shortfall in H1 2018 - WBMS estimated the mine
production during the six-month period at 1.027 million tonnes. -
The
Chinese Dream - China is a country of superlatives, of enormous capacities
and gargantuan appetites. With an estimated population approaching 1.4 billion
and a mid-ranking GDP per capita of $8,582 in 2017, it cannot be anything
but. -
Global
Steel Prices Stabilise Amid Uncertain Outlook - The consensus view of global
steel market participants is that they are uncertain about the future direction
of domestic pricing. -
Battle
brewing over mine south of Bancroft - There’s a battle brewing in this
tiny cottage community south of Bancroft over a proposed nickel, cobalt and
copper mine. -
New
Caledonia: boycotts and blockade - Preparations are under way for New
Caledonia’s historic independence referendum just two months away. -
. Indicators
at 6:10 am CST today show 3 month nickel trading around $.06/lb
Care
to Contango? - Finished nickel demand is forecast to continue growing strongly
at 7.6% to 2.36Mt in 2018, following a 7.8% increase in 2017. Demand is forecast
to lift another 3.4% in 2019. -
Four
things that need to happen before PolyMet mine's future can be written -
PolyMet Mining moved a tiny step closer to its goal of opening the first
copper-nickel mine in Minnesota last week when the state Department of Natural
Resources declined an environmental group's petition for additional environmental
review on the proposed mine. -
Stainless
steel producers hopeful of Govt removing duty on ferro nickel - Stainless
steel industry body ISSDA is expecting the government to look into the demands
of local players to remove 2.5 per cent basic customs duty on import of ferro
nickel and stainless steel scrap -
Galileo eyes shallow nickel targets at Nightmarch - The Mark Creasy-backed
Galileo Mining says it has pinpointed shallow nickel-copper-cobalt targets
at its flagship Fraser Range project, with similarities to the prominent
prospector’s Nova and Silver Knight discoveries. -
WBMS
January to June 2018 Metals Balances - The Nickel market was in deficit during
January to June 2018 with apparent demand exceeding production by 22 kt.
In the whole of 2017 the calculated deficit was 76.0 kt. Reported stocks
held in the LME at the end of June 2018 were 95 kt lower than at the end
of the previous year. Refined production in January to June 2018 totalled
934.3 kt and demand was 956.1 kt. -
FNI
nickel-ore output in H1 down by 19% - Global Ferronickel Holdings Inc. (FNI)
said its nickel-ore shipment in the first half fell by 19 percent to 1.55
million wet metric tons (WMT) as the firm shifted to higher-grade minerals
to capitalize better prices in the world market. -
(written last Thursday) Is the metals rout signal or noise? The zinc
perspective: Andy Home - The London Metal Exchange (LME) base metals markets
were a scene of carnage on Wednesday. -
Indonesian Ni-base HRC to Taiwan Reaches 60,000 Tons - According to informed
sources, the export volume of nickel (Ni)-base stainless steel (SST) hot-rolled
coil (HRC) from Indonesia to Taiwan has recently reached 60,000 tons per
month. It was reported as 20,000 tons per month only a few months ago, but
seems to have tripled at a stretch. -
Ex Glencore bosses try to snatch nickel asset - Mining giants Glencore and
Barrick could have a prospective nickel and cobalt project taken from under
their nose, if plans being hatched by ASX-listed Jervois Mining come to fruition.
-
Thanks
to an apparent virus picked up over the weekend, we are unable to update
the news site beyond the basics today. We apologize for this inconvenience,
and really hope tomorrow brings a resumption of health .... and updates.
Electric
car bets boosting nickel demand, Nornickel says - Expectations of a boom
in demand for electric vehicles are leading investors and battery makers
to stockpile nickel and helping to fuel a spike in global prices of the metal,
Russian mining company Norilsk Nickel said on Monday. -
Major fire in Port of Antwerp triggers disaster plan - A major fire in the
port of Antwerp has been brought under control, the port authority said,
but could go on burning for the rest of the week. -
Arsenic, nickel released from grill racks, German authority finds - Some
enamelled racks for use with gas or charcoal grills could be releasing unsafe
levels of nickel and arsenic into food, according to a report from German
authorities. -
Merafe production of ferrochrome hit hard by rising costs - Merafe Resources
said yesterday that ferrochrome production from its Glencore-Merafe chrome
venture fell 2.3 percent in the six months to end June to 211000 tons as
costs per ton increased 4.8percent from December. -
Sumitomo says Ambatovy to miss FY18/19 nickel output target of 48,000 T -
Japanese trading house Sumitomo Corp expects that nickel output at its Ambatovy
project in Madagascar will likely fall short of its earlier target of 48,000
tonnes in the year to March 2019, its chief financial officer said on Friday.
-
