This
page is archived news covering the period of February 2015
If you are looking for current daily market news, please visit
here.
Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Cell phone and tablet users - smaller version of
this page -
(here)
Thursday, February 26
On
the road Feb 27th so the next news update will be Monday. Have a safe and
relaxing weekend.
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.49/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.08/lb
higher this morning,
with other base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new record high for only the second
time this month, and now total 427,596 tonnes. It was really starting to
look like LME inventories of nickel had possibly peaked out this month, but
once again, a large influx yesterday has negated those thoughts. Nickel is
trading about where it was two weeks ago, and we are starting to see some
buying on China's return from their week long Lunar New Year break. The market
remains in a funk, a mirror image of the world economies.
Average price of cash nickel so far this month - $6.61/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(FAN) The global ferrochrome market will be in a deficit of 150,000 mt, as
demand from the stainless steel sector outgrows production, Turkey's Yildirim
Group said Wednesday.
(POA) Bank of America Merrill Lynch expects the price to rise to US$25,000/t
in 2015 while Wood MacKenzie has predicted a long term price of US$25,350
to US$ 26,460/t.
Brazil's Vale misses forecast with 2014 profit of $657 mln -
more
Commodities trader Noble rejects fresh accounting allegations -
more
Aperam,
Terni raise March stainless steel surcharges - European stainless steel producers
Aperam and Acciai Speciali Terni have followed the the continent's largest
producer, Finland's Outokumpu, in raising monthly alloy surcharges on austenitic
grades of stainless steel flat-rolled products for March. -
more
Another
knock for stainless steel sentiment - Global: The stainless steel market
is suffering from a lack of momentum. Constantly rising primary nickel stocks
on the LME have helped to undermine sentiment and maintain the pressure on
values in the stainless steel scrap sector. -
more
New
Caledonia: Nickel – Market Insights - There are currently three key
players in the nickel sector over in New Caledonia. French-owned ERAMET has
been present in the country for over 120 years now and operate mines in New
Caledonia through their subsidiary, SLN (Société Le Nickel).
-
more
Nickel
IPOs proposed in favourable market - Higher nickel prices and increased demand
due to a ban on shipments of ore from Indonesia are expected to lead to a
number of IPOs on the Philippines Stock Exchange this year by nickel producers
aiming to take advantage of the favourable conditions by expanding existing
operations and possibly starting new ones. -
more
Vale's
Production Volumes of Mn Ore, FA, Ni and Co in Full Year 2014 = As compared
with prior year, Mn ore and FA are down and Ni and Co are up = On February
19, Vale S. A., a major resource company in Brazil announced its production
volumes of manganese ore, ferroalloys, nickel and cobalt in the full year
2014 (January - December) and also in the period from October to December.
-
more
Building
sustainable cities - With over half the world’s population now living
in urban areas, the concept of sustainable or eco-cities has become increasingly
attractive. -
more
The Socio-Economic Benefits of Nickel Commerce - Every day, we witness how
people talk about sustainability as an essential aspect of modern living.
-
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, February 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.51/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mostly unchanged. Stockpiles of nickel
stored in LME approved warehouses rose on Tuesday and now total just over
the 425,300 tonne level. China is back to work, so traders will be watching
to see if they start placing orders for nickel. No surprises from Fed Chair
Yellen yesterday, and today she faces another round of questioning before
Congress.
Average price of cash nickel so far this month - $6.61/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Tweet) Wood Mackenzie see a nickel shortage after overhang is consumed by
2018, some 778,000t of new nickel by 2030 and 300,000t by 2018
China factories run at fastest for four months despite fall in export orders
-
more
Vale to
pay Newfoundland $230-million for nickel export boost - Mining giant Vale
SA will pay Newfoundland and Labrador $230-million for letting the company
export more Voisey’s Bay nickel concentrate while a processing plant
ramps up in the province. -
more
‘This is not acceptable’: Nunatsiavut president - The announcement
of yet another amendment to the Voisey’s Bay Development Agreement came
as a surprise to Nunatsiavut President Sarah Leo, who says her government
was never consulted on the deal. -
more
Gungnir
Resources Stakes Two Nickel Deposits in Sweden - Gungnir Resources Inc. is
pleased to announce that it has successfully staked two nickel deposits with
historical resources in the Vasterbotten District of northern Sweden. -
more
Steel is an integral part of the global circular economy - The World Steel
Association (worldsteel) today announced the launch of a new publication
‘Steel in the circular economy - A life cycle perspective’. -
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, February 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.41/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell on Monday and now total just under the 424,550
tonne level. Nickel successfully stayed above support late last week, and
is showing some signs of a possible bottom. The Greece agreement and the
return of China from its annual Lunar New Year shut down have traders in
a better mood, and eyes now shift to Congressional testimony over the next
few days by Fed Chair Janet Yellen. US stainless steel surcharges have been
updated
here.
Average price of cash nickel so far this month - $6.62/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Copper, nickel prices down 10% in 2015 - International prices for copper
and nickel are down 10% or so since the start of the year and remain sluggish
due largely to a prolonged slowdown in growth of Chinese demand, which accounts
for 40% of global demand. -
more
Outokumpu
European stainless steel surcharges edge higher for March - Monthly alloy
surcharges on austenitic grades of stainless steel flat-rolled products for
March in Europe are set to rise modestly, reversing the previous month's
decline, first mill announcements indicated Monday.
- more
More Nickel
Than Expected Discovered In Solomons - The Solomon Islands government says
Axiom Mining Limited has discovered there is a lot more nickel at the Isabel
Province site than previously thought. -
more
Scotiabank
Commodity Price Index Falls Below April-2009 Recessionary Low -
Scotiabank’s Commodity Price Index plunged again in January, -8.6%
month-over-month (m/m) or -27.9% year-over-year (yr/yr), dropping below the
April-2009 low during the ‘Great Recession.’ Commodity prices are
now at levels last seen in January 2007. -
more
Ramu Nico:
Mine still running at loss - Despite the technical, social, economic and
cultural challenges faced in 2014 by Ramu Nico, company president Wang Jicheng
set this year’s production target at 83 percent capacity rate in line
with requirements from the MCC-Group. -
more
Courtesy AISI
- In the week ending February 21, 2015, domestic raw steel production was
1,716,000 net tons while the capability utilization rate was 72.6 percent.
Production was 1,824,000 net tons in the week ending February 21, 2014, while
the capability utilization then was 75.8 percent. The current week production
represents a 5.9 percent decrease from the same period in the previous year.
Production for the week ending February 21, 2015 is down 2.5 percent from
the previous week ending February 14, 2015 when production was 1,760,000
net tons and the rate of capability utilization was 74.8 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, February 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.34/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses fell over 1000 tonnes on Friday and now
total just over the 424,900 tonne level. Nickel is holding above the $6.27/lb
support level, but with little enthusiasm. The Euro is weaker today, and
oil is trading under $50/barrel again, but nickel is nudging up. Nickel's
short, mid and long term trends are all negative, but with China returning
to work this week, we could see the short term trend take a positive turn.
Dockworkers and west coast dock reached a tentative agreement late Friday
and have returned to processing imports and exports. Analysts warn of a five
month backlog though, which means delayed shipments will continue.
Average price of cash nickel so far this month - $6.66/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
LME warehousing; overdue reform or regulatory overreach? - What to make of
last week's mass cancellations of zinc at London Metal Exchange (LME) warehouses
in New Orleans? -
more
U.S. Molybdenum
Import & Export Balance in 2014 = Both import and export are drastically
up from prior year - According to the calculation to figure out volumes of
molybdenum import and export in pure Mo equivalent based on foreign trade
statistics of United States Department of Commerce, the export volume in
the full year 2014 (January - December) was 70.20 million lbs, up by 22.0%
from 57.53 million lbs of the prior year, and the import volume was 43.22
million lbs, up by 19.7% from 36.11 million lbs of the prior year. -
more
Ravensthorpe
proves a profit spinner - Canada's First Quantum Minerals booked a $US117.3
million pre-tax profit on its Ravensthorpe nickel mine last year, before
a burst acid tank forced its temporary closure in December. -
more
Asian Mineral
Resources: Taking on Nickel in Vietnam - Nickel-focused investors may not
know much about nickel in Vietnam, but that could soon change thanks to Canada's
Asian Mineral Resources. -
more
BHP Billiton
spin-off a bright spot in commodities gloom - When global miner BHP Billiton
reports its half-year results on Tuesday, the only parts of the company that
are likely to report profit growth are some of the unloved assets it aims
to spin off by June. -
more
Asian
HR Coil Market Plunges into War of Attrition for Survival - Export negotiations
on hot-rolled (HR) steel coils in the Asian region are expected to start
for countries starting with Korea for April shipment as early as early March.
-
more
MDC slams
Mnangagwa for “trained to kill” comment - Recent remarks by Emmerson
Mnangagwa to the effect that " he was trained to kill " are a morbid , wicked
and nefarious attempt to instill fear not only in the hearts of the management
of Tongaat Hulett and Bindura Nickel corporation but also in the hearts of
all peace-loving Zimbabweans, says the MDC. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, February 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.33/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stored in LME
approved warehouses rose on Thursday and now total just over the 425,900
tonne level. With another support level at $6.26/lb within view, traders
are pushing nickel higher today, but based on the chart, with little enthusiasm.
China returns to work after a week long Lunar New Year holliday next week,
and a surge in buying is expected. How much of a surge that actually happens,
could give nickel a boost next week. The Euro continues to trade lower today,
adding negative pressure on base metals. Nickel is trading $.30/lb lower
than this time last Friday, and $.24/lb lower than this day last month. Have
a safe and relaxing weekend!
Average price of cash nickel so far this month - $6.69/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
January 2015
crude steel production - World crude steel production for the 65 countries
reporting to the World Steel Association (worldsteel) was 133 million tonnes
(Mt) in January 2015, a -2.9% decrease compared to January 2014. -
more
Japan
ferrochrome: Slips to 85-87 cents/lb amid Lunar New Year lull - Platts assessed
spot price of high-carbon ferrochrome imported into Japan at 85-87 cents/lb
CIF Japan Friday, down from 86-88 cents/lb CIF last week, amid a Lunar New
Year holiday lull. -
more
LME Mo
Price Updates Record Low with US$17,400/MT = Cheap level since 2004 = LME
molybdenum price (cash seller/settlement and 3-month seller) dropped down
to US$17,400 per ton (= US$7.89 per lb) on February 13. -
more
Negotiations
on CR Austenitic Stainless May Face Anxiety after Lunar New Yr - Negotiations
on cold-rolled (CR) austenitic stainless steel sheets have almost stopped
in the Asian region. -
more
Budget 2015:
Stainless steel makers seek higher customs duty - Ahead of the budget, stainless
steel firms have asked the Finance Ministry to increase customs duty to 25
per cent from 10 per cent at present to safeguard the interest of domestic
firms in view of growing imports.-
more
Asian Mineral
Resources: Taking on Nickel in Vietnam - Nickel-focused investors may not
know much about nickel in Vietnam, but that could soon change thanks to
Canada’s Asian Mineral Resources. -
more
Bindura
Nickel spends US$7 million on new equipment - Mwana Africa’s Bindura
Nickel Corporation (BNC) has spent US$7 million in acquiring new equipment
and refurbishing existing machinery as the company seeks to grow its business.
-
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, February 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.44/lb. Indicators
at 6:45 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell on Wednesday and now total just over the
425,600 tonne level. Having closed at or below support for two consecutive
days, nickel prices have collapsed to prices not seen since last February.
The difference being that last February, prices were on the increase. The
bulls are in hiding and apparently are not betting that the Chinese will
return from their holiday break in a buying mood. The deficit in worldwide
nickel production has yet to materialize, even after 14 months of forecasts
that it would happen. And while the doom and gloom forecasts continue to
get pushed out to "next month; or 'next year', we remain on the supply side
of the cyclical supply & demand up and down that has been experienced
in base metals production forever. When we run low on supply, the mining
companies all jump in to fill the void, and eventually that production exceeds
demand. That is where we are today. The nickel market 'needed' Indonesia
to invoke an ore ban, and rumors that Norilsk encouraged Indonesia not
to change their minds, makes complete sense.
Average price of cash nickel so far this month - $6.72/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Triland) “We did see some static data showing nickel had a 197,000-tonne
surplus from January-December in comparison with 186,700 tonnes in 2013,
thus proving demand is being outweighed by production.”
(SSY) China's daily crude steel output continued to decline at the start
of February as demand weakened and some steel mills scheduled maintenance
in advance of Chinese New Year, SteelFirst reports. Daily production at China
Iron and Steel Association member mills dropped to 1.63 Mt in the period
1-10 February, down from 1.69 Mt/day in the preceding eleven days, according
to data from the industry association.
Nickel
West cuts 50 jobs - BHP Billiton has laid off about 50 workers at its Nickel
West division over the past two weeks, following its failure to sell the
struggling WA operation. -
more
BIR Stainless
World Mirror February 2015 - Global: The following article is based on the
latest Stainless Steel & Special Alloys World Mirror produced by the
BIR world recycling organisation for the benefit of its members. -
more
Brazil's
Vale beats iron ore forecast, takes nickel crown - Brazilian miner Vale SA
said on Thursday it produced 319.2 million tonnes of iron ore in 2014, beating
its forecast for the year, as it begins to boost production after years of
stagnation. -
more
Chrome
sector considers power imports as high tariffs choke sector - The chrome
sector is seriously considering importing power dedicated for its smelters
as local tariffs are being charged at a premium, stifling the viability of
the sector, mines minister Walter Chidhakwa has said. -
more
BCL smelter
shut down lead to 52.1% production decline - The shutting down of the BCL
smelter last year in July and over the first week of August contributed to
a 52.1 per cent decline of the Copper-Nickel-Cobalt Matte production in the
third quarter of 2014 in comparison with the corresponding quarter of the
previous year, records at Statistics Botswana have indicated. -
more
January 2015
Shipments Lower - U.S. shipments of both steel and aluminum decreased from
levels a year ago in January. Canadian results were similar.
- 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, February 18
Due
to inclement weather, we will not be updating today. Nickel closed at $6.46/lb
yesterday, and is trading $.04/lb lower this morning. Stockpiles slipped
yesterday and now total just under 425,800 tonnes.
Tuesday, February 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.62/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.11/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose on Monday and now total just over the 426,100
tonne level. Base metals in general, and nickel in particular, are getting
whacked by a sharper lower Euro this morning, again on concerns about Greece.
China's closing for their Lunar New Year, has in the past, given speculating
nickel traders, a reason to drive prices higher. That enthusiasm has yet
to develop, and Greece seems to have the markets entire attention. We still
show major support at $6.46/lb. An agreement in Europe between Greece and
other members of the EU could give nickel a big bounce. Anything less, could
be deeply concerning.
Average price of cash nickel so far this month - $6.74/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China's Steel Export by Destination in 2014 -
more
Australian cyclone's forecast path crosses BHP, Rio, Glencore mines -
more
Tropical Pacific Ocean remains ENSO-neutral -
more
Mwana
Africa Shares Drop As Gold And Nickel Production Falls - Shares in Mwana
Africa PLC were sold off on Monday after the company reported drops in gold
and nickel production in the final quarter of 2014. -
more
Norilsk,
Russia -- The inescapability of the company town on Russia’s tundra
- There are many ways of framing Arctic climate change. On the one hand,
countries in the south often see themselves as potential victims of the melting
Greenland ice sheet and rising sea levels. -
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, February 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.67/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses fell on Friday and now total just over
the 425,800 tonne level, only 486 tonnes shy of the all time record high.
SMM is reporting nickel ore stockpiles at five of China's major ports fell
by 145,000 tonnes to total 11.71 million tonnes. Nickel ore stockpiles measured
by SMM have fallen for four consecutive months. We expect the market news
to be on the quiet side for the next few weeks, as China shuts down later
this week for the Lunar New Year holiday. We could still still some traders
gambling that China will return in a more enthusiastic mood as they have
been and drive nickel prices higher, but there is little evidence to see
any increase in demand is inevitable. We have major support at $6.46/lb but
see no reason to believe nickel will test this unless something happens in
Europe to drive the Euro much lower.
Average price of cash nickel so far this month - $6.76/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(WTO) WTO declared that the antidumping duties on stainless steel tubes imposed
by China on EU and Japanese imports are illegal in the light of WTO rules.
(Reuters) South African power utility Eskom said on Saturday it was imposing
"Stage 2" rolling blackouts until 2000 GMT due to pressure on the national
grid and the need to build up diesel reserves and water in hydropower dams.
Japan's out of recession - but not with any great conviction -
more
February
Purchase Price of Ni SUS Scrap by SUS Mills Remains Unchanged = Domestic
demand is weak, and price cut is likely depending on Ni price = February
purchase price of nickel-containing stainless steel scrap (SABOT) by Japanese
Stainless Steel mills has started with JPY155,000 - JPY165,000 per ton (delivered
at factory). The price has continued to be flat since it dropped in late
January. (Hereinafter, The price is per ton.) -
more
China's steel
outlook set to fall - China's steel market is expected to decline in the
next 30 days due to weaker expectations for new domestic and export orders
ahead of the weeklong Chinese New Year holiday, according to the latest Platts
China Steel Sentiment Index (Platts CSSI). -
more
Indonesia
Plans to Raise Coal Royalties by End of First Quarter - Indonesia plans to
raise coal royalties by the end of the first quarter to boost mining revenue
amid shrinking incomes from oil and gas, according to an official at the
Energy and Mineral Resources ministry. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, February 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.69/lb. Indicators
at 6:50 am CST today show 3 month nickel trading
flat, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses rose on Thursday but came up just short of a new
record level, starting today just over the 426,200 tonne level. Once again,
we are seeing base metals benefiting by a firmer Euro, with nickel lagging.
The labor dispute between union dockworkers and shipping companies has taken
a turn for the worst, with the ports locking dockworkers out yesterday, and
expected to do the same today. Shipments that have been delayed by slow down
protests by dockworkers, has now ground to a halt, with major implications
possible for the US economy. Base metal production in China has ground to
a halt in anticipation of the week long New Year holiday shutdown. Surprising
strong economic news from Germany is helping boost the Euro, and equity markets.
Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.77/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Sherritt posts
bigger-than-expected loss as nickel prices fall - Canadian miner Sherritt
International Corp reported a much wider-than-expected quarterly loss as
nickel prices fell due to a supply glut and weak demand from China. -
more
Stainless
Crude Steel Production by Major SUS Mills in December 280,006 Tons = Up by
5.7% from prior month, and influence of production recovery at Nisshin Steel's
Shunan Works is big = The stainless crude steel production by 6 major stainless
steel mills in December 2014 was 280,066 tons, up by 5.7% from 264,959 tons
of the prior month. -
more
Nickel
Producer Central Omega Ramps Up Smelter Investment - Listed Indonesian nickel
producer Central Omega Resources is ramping up its investment plan by 33
percent to build a smelter in Morowali, Central Sulawesi. -
more
Domestic
stainless steel prices keep growing - Average supply price for CR flats (2mm)
in January 2014, compared with December 2014, increased: -
more
Appeal
over Solomons nickel deposit - Japanese mining giant Sumitomo has a court
date for its appeal against Axiom Mining's ownership of a nickel deposit
in Solomon Islands Isabel province. -
more
US Nickel scrap
exports soared in 2014 - The latest statistics released by the US Department
of Commerce (DOC) indicates that the country’s Nickel scrap exports
were down by 26% in December ’14 when compared with the previous month.
However, the cumulative exports during the entire year 2014 soared higher
by over 18%. -
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, February 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.70/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses fell on Wednesday and now total just over the
425,300 tonne level. Nickel is bucking the boost a weaker Dollar is giving
base metals traders this morning, but is showing signs of possibly trading
in positive territory before the day is over. The Euro got a bounce late
yesterday when EU officials announced a deal with Greece was more likely
after a major stumbling block was cleared. A new cease fire agreement in
Ukraine is also helping markets this morning. The geopolitical news is positive,
but we have been here before on both topics, so...? Read the Damstahl report
below - it's one of the best free monthly reports we have found.
Average price of cash nickel so far this month - $6.79/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(CFI) Taiwan’s fastener exports hit record high in 2014 with the export
volume up 9.31% year-on-year to 1.52 million tons and the value up 10.12%
to USD 4.3 billion.
LME Ni Average Price in January Down by 7.2% from Prior Month = It rebounds
and stagnates after rising early in January, and month-end inventory increases
to 425,000 tons = LME monthly average price in January 2015 was <>
Cash seller: US$14,770.95 per ton (US$6.700 per lb) and <> 3-month
seller: US$14,837.38 per ton (US$6.730 per lb). -
more
China seizes
upper hand in iron ore market after deal with Vale - “Resolution of
the dispute coincides with a paradigm shift in the global iron ore trade
from a seller’s market to a buyer’s market. China has regained
pricing power it lost in the past decade over imported iron ore,” said
Jiang Ming, an analyst at Haitong Securities -
more
worldsteel
announces the world champions of steel challenge-9 - The World Steel Association
(worldsteel) today announced the new world champions of the 9th steel challenge.
-
more
Lucky Ludwig
the otter is rescued from a 'sticky' situation under a factory conveyor belt
- An otter who got himself into a sticky situation at a refinery has been
rescued. -
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, February 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.72/lb. Indicators
at 6:40 am CST today show 3 month nickel trading little changed, with other
London traded base metals trading sideways as well. Stockpiles of nickel
stored in LME approved warehouses slipped on Tuesday, and now total just
over the 426,000 tonne level. Cancelled warrants have slipped the last few
days, possibly reflecting a slack in buying interest due to the upcoming
week long China shutdown. So far this year, nickel has traded between $6.35/lb
and $7.00/lb. For the last few weeks, that range has narrowed to $6.50/lb
to $7.00/lb. Like BHP, Vale is finding it difficult unloading its nickel
business during a period of lower nickel prices. And while most analysts
are forecasting higher nickel prices right around the corner, apparently
those with the money to invest in working nickel mines, are not convinced
any increase would remain long term.
Average price of cash nickel so far this month - $6.81/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Tweet) Asian Metal Statistics: Chinese nickel cathodes output totaled to
207,336t in 2014, up by 6.89% from 2013.
(SSY) Daily crude steel output at China Iron and Steel Association member
mills continued to decline in the last 11 days of January, dropping to 1.688
Mt, according to data from the industry body reported by SteelFirst.
(CF) U.S. fastener imports of iron and steel fasteners (HTS Code: 7318) jumped
7% month-to-month to $401,828,220 in December and exports dropped 7% to
$292,258,751.
The NFIB Small Business Optimism Survey for January slipped 2.5 points to
97.9 with seven components dropping, one unchanged, and two slightly increasing.
-
more
Nickel's bull story; just a simple matter of timing?: Andy Home - The nickel
market went on a super-charged rally over the first half of last year, the
benchmark London Metal Exchange (LME) three-month price racing up from below
$15,000 per tonne to a May high of $21,625. -
more
Vale's CEO
rules out nickel IPO, writedowns - Vale's chief executive said on Tuesday
that a possible initial public offer of part of its nickel division was off
the cards for now due to low prices for the commodity, but that other asset
sales could be expected over the coming year. -
more
Nyota Minerals
Shares Soar On Deal For Italian Nickel Project Stake - Nyota Minerals Ltd
on Tuesday said it has entered into a cash and shares deal to buy a 70% stake
in KEC Exploration Pty, the owner of an exploration permit for a nickel project
in Italy. -
more
Seven charged
for Ramu mine office damages - Seven people, including a man of Asian origin,
have been charged in connection with the damage at the Kurumbukari Ramu Nickel
office in Madang. -
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, February 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.83/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.11/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new record high on Friday, reaching
426,324 tonnes. Yesterday those numbers slipped by a few hundred tonnes.
Base metal prices are getting hit by weak economic news from China, and the
Euro trading lower with the war of words with Greece ongoing. In the mean
time, it remains rangebound, trading on the higher side of the $6.50/lb to
$7.00/lb spread. China shuts down for a week starting next Thursday for the
Chinese New Year celebration, and buying interest has waned. We would be
surprised if the price of nickel does anything major for the rest of the
month, although traders have a history of betting things will pick up after
the New Year in China. This enthusiasm can last thru May, when reality will
finally hit. Stay tuned.
Average price of cash nickel so far this month - $6.82/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Chinese steel exports totalled a record 10.3 Mt in January, up 3.5
Mt year-on-year, according to preliminary customs data. This is the fifth
month in succession exports have set a new all-time high. In contrast, iron
ore imports fell to 78.6 Mt in January, down from 86.7 Mt in December and
a fall of 8.3 Mt from the record high achieved in January 2014. There was
an even sharper drop in coal imports (incl. lignite) which plunged 19.1 Mt
year-on-year, the largest annual decline in volume on record, to 16.8 Mt.
China lifts three-year ban on Valemax cargo ships -
more
Russian Train Drivers Fired Over Attempt to Crash Into Bear -
more
Production
of Stainless Steel Products in November 2014 Is 219,621 Tons = Down by 17%
from prior month, and month-end inventory was down, too = The Ministry of
Economy, Trade and Industry announced the production volume of stainless
steel products (hot-rolled products) in November 2014 was 219,621 tons, down
by 17.5% from the prior month and down by 4.6% also from the year-earlier
month. -
more
India: Stainless
steel makers cut prices by 7-10% to match imports, call for tariffs - Stung
by cheap imports from ASEAN and free trade agreement (FTA) countries, stainless
steel manufacturers have cut prices to 7-10% below the cost of production.
-
more
China
ferrochrome: Domestic spot prices unchanged as trading slows - The domestic
spot price of 50% Cr Chinese high-carbon ferrochrome was assessed unchanged
week on week Wednesday, February 4, at Yuan 6,400-6,600/mt (equivalent to
78-80.5 cents/lb), including 17% VAT and delivery. -
more
Japan ferrochrome: Prices flat on week in thin trade -
more
Sumitomo
Metal cuts profit f'cast on appraisal loss on Goro nickel stake - Sumitomo
Metal Mining Co Ltd on Monday lowered its net profit forecast for the 2014
business year by 15 percent due to an estimated appraisal loss of $220 million
on its stake in Vale New Caledonia (VNC), the operator of the Goro nickel
project.
- more
Molybdenum production up, use down slightly - Global production of molybdenum
increased to 150.3 million pounds for the third quarter of 2014, up 5% from
142.9 million pounds in the previous quarter, and 11% higher compared with
the same period in 2013, figures released today by the International Molybdenum
Association (IMOA) show. -
more
Courtesy
AISI - In the week ending February 7, 2015, domestic raw steel production
was 1,769,000 net tons while the capability utilization rate was 74.8 percent.
Production was 1,824,000 net tons in the week ending February 7, 2014, while
the capability utilization then was 75.8 percent. The current week production
represents a 3.0 percent decrease from the same period in the previous year.
Production for the week ending February 7, 2015 is down 0.7 percent from
the previous week ending January 31, 2015 when production was 1,782,000 net
tons and the rate of capability utilization was 75.4 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, February 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.84/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.08/lb
lower, with most
other London traded base metals trading lower as well. Stockpiles of nickel
stored in LME approved warehouses rose on Thursday and now total just over
the 424,200 tonne level. Cancelled warrants rose over the 27% level for the
first time since August of last year showing some buying interest. SMM reports
inventories of nickel ore held at five major China inventories fell 289,000
tonnes to 11.85 million tonnes last week. This is a drop of 1.8 million tonnes
since the end of 2014. Nickel remains rangebound, unable to break above the
$7/lb level earlier this week. Having followed this market for years, we
have learned to accept the fact that fundamentals, the whole law of supply
and demand, mean far less to the trading price of nickel than it once did.
Yes, traders used the Indonesia ban on nickel ore as an excuse to rise prices
last year, only to see them crumble when the world glut in nickel and slowdown
in demand proved the predictions of doom and gloom to be false. And for the
most part, that glut in world nickel production continues. How long it will
last is anyone's guess. But for the 21st century, if you wanted to monitor
demand for nickel, you cast your eyes to China. So the news out of China
that steel production may have peaked there last year, means a major shift
in calculations. Will it matter to the traded price of nickel? We will have
to wait and see. Have a relaxing and safe weekend.
Average price of cash nickel so far this month - $6.83/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Sherritt
(T.S) reports record production levels at Madagascar nickel operation - Sherritt
International's 40% ownership of the Ambatovy nickel operation located in
Madagascar really paid off today when the company announced operational results
for January 2015. -
more
Import of
SUS Products in December 2014 Is 10,623 Tons = Down by 27% from prior month,
and imports from 3 major countries are grossly down = The import volume of
stainless steel products in December 2014 which was compiled by the Japan
Iron and Steel Federation based on the trade statistics prepared by the Ministry
of Finance was 10,623 tons, grossly down by 26.5% from 14,453 tons of the
prior month. -
more
Has China
reached ‘peak steel’? - A term gaining currency among China commodity
watchers is “peak steel”, something that sounds ominous, especially
to iron ore and metallurgical coal miners. -
more
Steel capacity likely to grow this year due to slower demand: industry ministry
-
more
Finland:
Talvivaara gets extra time for restructuring plan - The beleaguered Finnish
mining company Talvivaara has caught a break in the form of extra time to
resubmit a restructuring proposal to write off the company’s debts and
find new investors to refloat the business. -
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, February 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.83/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.12/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell on Wednesday and now total just under the
423,500 tonne level. Base metals are feeling the pressure of a Euro that
got hammered overnight. The EU threw down the gauntlet on Greece late yesterday
and while Greece scrambles to determine its next move, the Euro suffered
in the short term. It's up a little this morning, but base metals trading
had ended for the day when the announcement was made, so they had negative
pressure to face this morning. At its present trading level, nickel is trading
just over 7-1/2% higher than the 2014 average, but 18% lower than nickel
averaged in 2013. For those who like to make metals forecasts on their own,
please read the article 'Crude steel output to drop in 2015: CISA' posted
below. This is a stunning forecast, and if it proves true, will cause those
analysts who have forecast large increases in the price of nickel later this
year, a potentially stressful day.
Average price of cash nickel so far this month - $6.86/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) China’s stainless steel output up by 8% in 2014
PMA Makes “All-in” Offer to ILWU as Contract Talks Lag -
pdf here
ANZ Cuts 2015
Industrial Metals Forecasts on China Slowdown - Australia & New Zealand
Banking Group Ltd. cut its price forecasts for industrial metals this year
by as much as 19 percent on concern that further economic troubles are ahead
for China, the world’s largest consumer. -
more
First
Quantum forecasts 2015 Ravensthorpe nickel output of 24,000-30,000 T - First
Quantum Minerals on Thursday said its Ravensthorpe nickel plant in Australia
will run at 70 percent of capacity while it conducts repairs following an
acid spill in December, forecasting output of 24,000-30,000 tonnes for the
year. -
more
Crude steel
output to drop in 2015: CISA - China's crude steel output is expected
to fall by 1.07 percent year-on-year to 814 million tons in 2015, an industry
official said Wednesday, adding that demand has already peaked. -
more
Chinese iron ore imports seen rising to 1 bln tonnes as top miners rule -
more
Indonesia
2014 growth slowest in 5 years - Jakarta: Indonesia’s economic growth
slipped to its weakest in five years in 2014 as weak exports and investments
dragged, underlining the challenges facing the country’s new President
Joko Widodo. -
more
Mining
Projects Group raising funds for nickel exploration - Mining Projects
Group has been granted a trading halt by the ASX pending details of a capital
raising. -
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, February 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.99/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.17/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses rose on Tuesday dn now total just shy of
the 424,800 tonne level. Nickel punched thru resistance at $7.02/lb twice
in yesterday's session, but was unable to close above that point. Today,
markets are in retreat, although China did announce the stimulus that markets
had been gambling on the last few days. For now, nickel remains rangebound,
although this month we have moved to the high side of that range..... so
far.
Average price of cash nickel so far this month - $6.90/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China’s central bank cuts reserve ratio for banks by 50 basis points
to spur growth -
more
Letter: Don’t forget Cuba’s history as we change our foreign policy
-
more
China
ferrochrome: Domestic spot prices unchanged as trading slows - The domestic
spot price of 50% Cr Chinese high-carbon ferrochrome was assessed unchanged
week on week Wednesday, February 4, at Yuan 6,400-6,600/mt (equivalent to
78-80.5 cents/lb), including 17% VAT and delivery. -
more
Stainless
steel makers cut prices by 7-10% to match imports, call for tariffs - Stung
by cheap imports from ASEAN and free trade agreement (FTA) countries, stainless
steel manufacturers have cut prices to 7-10% below the cost of production.
-
more
New Infographic: Nine Lives of Steel - What do steel and a cat have in common?
They both have at least nine lives. worldsteel has just issued a new infographic
titled 'Nine Lives of Steel'™. Check it out and learn about the
recyclability of modern steel. -
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, February 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.91/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel store
din LME approved warehouses fell for a second day on Tuesday and now total
just over the 425,500 tonne level. The Baltic Dry Index fell to its lowest
level since August 1986. What was once a major measure of base metals transport,
is now another gauge generally overlooked by the computers who manage most
trades. Base metals, as well as equity markets, are trading higher this morning,
on speculation China will give its economy a boost with a stimulus,
Greece appears to be backing some of its earlier demands, climbing oil prices,
and a nagging doubt that the US Fed will ever risk raising interest rates
in light of negative and less than enthusiastic economic reports. Nickel
is approaching a major line of resistance, both technically and psychologically,
around $7/lb.
Average price of cash nickel so far this month - $6.83/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM China) For these reasons, Wood Mackenzie predicts that the first half
of 2015, global nickel prices are expected to return to the high point in
June 2014, that is $19,000 - $20 000 US dollars / ton (US $ 8.60-9.05 / lb),
expected to rise in the third quarter of 2015 to $23,000 dollars - $24 000
US dollars / ton, and in the second half of 2015, the average price of nickel
is expected to more than 22,000 US dollars / ton.
Chinese employers bullish on hiring over next 12 months, survey finds -
more
Baltic index slide continues as capesize and panamax rates drop -
more
United States ISM Purchasing Managers Index (PMI) -
more
Axiom planning
nickel production by year end - The final resolution of long-running litigation
between Japan's Sumitomo and Axiom Mining over control of a large nickel
deposit in the Solomon Islands, which is expected around Easter, is likely
to see development work on the project accelerated with the intention of
achieving initial exports of ore by year end. -
more
Asia's Prices
of CR Ferritic Stainless Sheets Fall below $1,300 CFR - Prices of cold-rolled
(CR) ferritic stainless steel sheets in the Asian region are falling. -
more
Global
Ferronickel to sustain record shipments - Global Ferronickel Holdings Inc.
expects to sustain its record shipments of nickel ore amid high global prices
which has pushed its earnings to about $130 million last year. -
more
Sumitomo
warns of further write-down on energy, iron ore assets - Japanese trading
house Sumitomo Corp warned on Tuesday that it may take additional impairment
losses on its energy and metal assets due to slumping oil and iron ore prices,
although its annual profit forecast remained unchanged. -
more
Courtesy AISI
- In the week ending January 31, 2015, domestic raw steel production was
1,782,000 net tons while the capability utilization rate was 75.4 percent.
Production was 1,824,000 net tons in the week ending January 31, 2014, while
the capability utilization then was 75.8 percent. The current week production
represents a 2.3 percent decrease from the same period in the previous year.
Production for the week ending January 31, 2015 is down 2.4 percent from
the previous week ending January 24, 2015 when production was 1,825,000 net
tons and the rate of capability utilization was 75.9 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, February 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.69/lb. Indicators
at 6:45 am CST today show 3 month nickel trading around $.05/ll
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME approved warehouses fell on Friday, and now total just under
the 425,000 tonne level. In another case of bad news can be good news to
the market, base metals traders initially reacted negatively to the Chinese
PMI falling harder than expected (49.7), but since then they have convinced
themselves that China will be forced to take stimulus measures, so now base
metals are trading mostly higher. The average price of cash nickel fell sharply
in January, and a week long Chinese holiday later this month, could keep
potential increases in check this month.
Average price of cash nickel so far this month - $6.70/lb (Jan)
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) Baosteel Stainless cuts domestic stainless prices for Feb-Mar
(MEPS) The annual total global stainless steel production for 2014 is estimated
to have reached an all-time high of 41 million tonnes. This exceeds the previous
record mark, set in 2013, by 7.6 percent.
Scant relief seen for commodities from European monetary easing -
more
Sumitomo sees
first nickel deficit in 5 years - Demand will exceed production by 12,000
metric tons, compared with a 36,000-ton surplus last year. -
more
Antam’s
sales plunge - State-run diversified miner Aneka Tambang (Antam) wrapped
up 2014 with sliding sales due to the government’s ore-exports ban and
weak commodity prices, despite significant growth in the company’s
ferronickel business. -
more
Russia's
Norilsk Nickel Faces Battle to Protect Workforce From Rising Food Prices
- Russia's financial crisis is posing a stark challenge to the country's
largest mining company. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
On
the road Feb 27th so the next news update will be Monday. Have a safe and
relaxing weekend.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.08/lb
higher this morning,
with other base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new record high for only the second
time this month, and now total 427,596 tonnes. It was really starting to
look like LME inventories of nickel had possibly peaked out this month, but
once again, a large influx yesterday has negated those thoughts. Nickel is
trading about where it was two weeks ago, and we are starting to see some
buying on China's return from their week long Lunar New Year break. The market
remains in a funk, a mirror image of the world economies.
Reports
Commodity/Economic Comments
Aperam,
Terni raise March stainless steel surcharges - European stainless steel producers
Aperam and Acciai Speciali Terni have followed the the continent's largest
producer, Finland's Outokumpu, in raising monthly alloy surcharges on austenitic
grades of stainless steel flat-rolled products for March. -
Another
knock for stainless steel sentiment - Global: The stainless steel market
is suffering from a lack of momentum. Constantly rising primary nickel stocks
on the LME have helped to undermine sentiment and maintain the pressure on
values in the stainless steel scrap sector. -
New
Caledonia: Nickel – Market Insights - There are currently three key
players in the nickel sector over in New Caledonia. French-owned ERAMET has
been present in the country for over 120 years now and operate mines in New
Caledonia through their subsidiary, SLN (Société Le Nickel).
-
Nickel
IPOs proposed in favourable market - Higher nickel prices and increased demand
due to a ban on shipments of ore from Indonesia are expected to lead to a
number of IPOs on the Philippines Stock Exchange this year by nickel producers
aiming to take advantage of the favourable conditions by expanding existing
operations and possibly starting new ones. -
Vale's
Production Volumes of Mn Ore, FA, Ni and Co in Full Year 2014 = As compared
with prior year, Mn ore and FA are down and Ni and Co are up = On February
19, Vale S. A., a major resource company in Brazil announced its production
volumes of manganese ore, ferroalloys, nickel and cobalt in the full year
2014 (January - December) and also in the period from October to December.
-
The Socio-Economic Benefits of Nickel Commerce - Every day, we witness how
people talk about sustainability as an essential aspect of modern living.
-
Morning Nickel
Price Statistics & Figures
Vale to
pay Newfoundland $230-million for nickel export boost - Mining giant Vale
SA will pay Newfoundland and Labrador $230-million for letting the company
export more Voisey’s Bay nickel concentrate while a processing plant
ramps up in the province. -
Gungnir
Resources Stakes Two Nickel Deposits in Sweden - Gungnir Resources Inc. is
pleased to announce that it has successfully staked two nickel deposits with
historical resources in the Vasterbotten District of northern Sweden. -
More Nickel
Than Expected Discovered In Solomons - The Solomon Islands government says
Axiom Mining Limited has discovered there is a lot more nickel at the Isabel
Province site than previously thought. -
Ramu Nico:
Mine still running at loss - Despite the technical, social, economic and
cultural challenges faced in 2014 by Ramu Nico, company president Wang Jicheng
set this year’s production target at 83 percent capacity rate in line
with requirements from the MCC-Group. -
Courtesy AISI
- In the week ending February 21, 2015, domestic raw steel production was
1,716,000 net tons while the capability utilization rate was 72.6 percent.
Production was 1,824,000 net tons in the week ending February 21, 2014, while
the capability utilization then was 75.8 percent. The current week production
represents a 5.9 percent decrease from the same period in the previous year.
Production for the week ending February 21, 2015 is down 2.5 percent from
the previous week ending February 14, 2015 when production was 1,760,000
net tons and the rate of capability utilization was 74.8 percent.
Ravensthorpe
proves a profit spinner - Canada's First Quantum Minerals booked a $US117.3
million pre-tax profit on its Ravensthorpe nickel mine last year, before
a burst acid tank forced its temporary closure in December. -
Asian Mineral
Resources: Taking on Nickel in Vietnam - Nickel-focused investors may not
know much about nickel in Vietnam, but that could soon change thanks to Canada's
Asian Mineral Resources. -
Asian
HR Coil Market Plunges into War of Attrition for Survival - Export negotiations
on hot-rolled (HR) steel coils in the Asian region are expected to start
for countries starting with Korea for April shipment as early as early March.
-
MDC slams
Mnangagwa for “trained to kill” comment - Recent remarks by Emmerson
Mnangagwa to the effect that " he was trained to kill " are a morbid , wicked
and nefarious attempt to instill fear not only in the hearts of the management
of Tongaat Hulett and Bindura Nickel corporation but also in the hearts of
all peace-loving Zimbabweans, says the MDC. -
January 2015
crude steel production - World crude steel production for the 65 countries
reporting to the World Steel Association (worldsteel) was 133 million tonnes
(Mt) in January 2015, a -2.9% decrease compared to January 2014. -
Japan
ferrochrome: Slips to 85-87 cents/lb amid Lunar New Year lull - Platts assessed
spot price of high-carbon ferrochrome imported into Japan at 85-87 cents/lb
CIF Japan Friday, down from 86-88 cents/lb CIF last week, amid a Lunar New
Year holiday lull. -
Budget 2015:
Stainless steel makers seek higher customs duty - Ahead of the budget, stainless
steel firms have asked the Finance Ministry to increase customs duty to 25
per cent from 10 per cent at present to safeguard the interest of domestic
firms in view of growing imports.-
BCL smelter
shut down lead to 52.1% production decline - The shutting down of the BCL
smelter last year in July and over the first week of August contributed to
a 52.1 per cent decline of the Copper-Nickel-Cobalt Matte production in the
third quarter of 2014 in comparison with the corresponding quarter of the
previous year, records at Statistics Botswana have indicated. -
Norilsk,
Russia -- The inescapability of the company town on Russia’s tundra
- There are many ways of framing Arctic climate change. On the one hand,
countries in the south often see themselves as potential victims of the melting
Greenland ice sheet and rising sea levels. -
China's steel
outlook set to fall - China's steel market is expected to decline in the
next 30 days due to weaker expectations for new domestic and export orders
ahead of the weeklong Chinese New Year holiday, according to the latest Platts
China Steel Sentiment Index (Platts CSSI). -
Indonesia
Plans to Raise Coal Royalties by End of First Quarter - Indonesia plans to
raise coal royalties by the end of the first quarter to boost mining revenue
amid shrinking incomes from oil and gas, according to an official at the
Energy and Mineral Resources ministry. -
flat, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses rose on Thursday but came up just short of a new
record level, starting today just over the 426,200 tonne level. Once again,
we are seeing base metals benefiting by a firmer Euro, with nickel lagging.
The labor dispute between union dockworkers and shipping companies has taken
a turn for the worst, with the ports locking dockworkers out yesterday, and
expected to do the same today. Shipments that have been delayed by slow down
protests by dockworkers, has now ground to a halt, with major implications
possible for the US economy. Base metal production in China has ground to
a halt in anticipation of the week long New Year holiday shutdown. Surprising
strong economic news from Germany is helping boost the Euro, and equity markets.
Have a safe and relaxing weekend.
Sherritt posts
bigger-than-expected loss as nickel prices fall - Canadian miner Sherritt
International Corp reported a much wider-than-expected quarterly loss as
nickel prices fell due to a supply glut and weak demand from China. -
Nyota Minerals
Shares Soar On Deal For Italian Nickel Project Stake - Nyota Minerals Ltd
on Tuesday said it has entered into a cash and shares deal to buy a 70% stake
in KEC Exploration Pty, the owner of an exploration permit for a nickel project
in Italy. -
Sherritt
(T.S) reports record production levels at Madagascar nickel operation - Sherritt
International's 40% ownership of the Ambatovy nickel operation located in
Madagascar really paid off today when the company announced operational results
for January 2015. -
Finland:
Talvivaara gets extra time for restructuring plan - The beleaguered Finnish
mining company Talvivaara has caught a break in the form of extra time to
resubmit a restructuring proposal to write off the company’s debts and
find new investors to refloat the business. -
ANZ Cuts 2015
Industrial Metals Forecasts on China Slowdown - Australia & New Zealand
Banking Group Ltd. cut its price forecasts for industrial metals this year
by as much as 19 percent on concern that further economic troubles are ahead
for China, the world’s largest consumer. -
Asia's Prices
of CR Ferritic Stainless Sheets Fall below $1,300 CFR - Prices of cold-rolled
(CR) ferritic stainless steel sheets in the Asian region are falling. -
