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page is archived news covering the period of February 2017
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Tuesday, February 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$5.01/lb. Indicators at 6:20 am CST today show 3 month
nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just over the 377,450 tonne level. Nickel closed just over the $5/lb level
yesterday, but once again is having problems holding on to it. Secretary
of Environment and Natural Resources Gina Lopez had her first confirmation
hearing cancelled after it became apparent her confirmation might be in trouble
with the current committee. Nickel miners working for Glencore in Sudbury
agreed to a contract yesterday. Earlier this month Xstrata miners in Sudbury
agreed to a new contract, and the Vale miners contract doesn't expire until
2020.
Average price of cash nickel so far this month - $4.81/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China Said to Probe Speculation in Commodity Futures Rally -
more
We need to talk about the London Metal Exchange: Andy Home -
more
El Niño WATCH: likelihood of El Niño in 2017 increases -
more
Stocks Steady as Traders Await Trump, Dollar Slips: Markets Wrap -
more
China's Feb
stainless steel output regains momentum after Lunar New Year - China's stainless
steel production has regained momentum in February after Lunar New Year holidays
trimmed output in January, Yujing Liu, analyst at Chinese consultancy Antaike,
said Tuesday. -
more
Glencore,
Steelworkers in Sudbury, reach deal - Glencore and its office, clerical and
technical employees have reached a tentative agreement. -
more
Tata
Steel starts production at ferro-chrome plant in Odisha - Tata Steel’s
first greenfield ferro-chrome plant in India at Gopalpur Industrial Park
in Ganjam district of Odisha has started production. -
more
New
Caledonia urges nickel workers to help keep SLN open - The New Caledonian
government is urging unions representing workers at the country’s largest
nickel mining firm to accept reduced working hours in order to stave off
job losses. -
more
Why
miners are not ready for Gina Lopez - Mining industry players did not invest
enough in building goodwill. And this explains why they were not prepared
for someone like Gina Lopez. -
more
Lopez fears conflict of interest to derail her CA confirmation -
more
Lopez urges CA: 'Make decisions based on common good' -
more
Courtesy
AISI - In the week ending on February 25, 2017, domestic raw steel production
was 1,770,000 net tons while the capability utilization rate was 74.7 percent.
Production was 1,709,000 net tons in the week ending February 25, 2016 while
the capability utilization then was 73.1 percent. The current week production
represents a 3.6 percent increase from the same period in the previous year.
Production for the week ending February 25, 2017 is up 0.2 percent from the
previous week ending February 18, 2017 when production was 1,766,000 net
tons and the rate of capability utilization was 74.6 percent. -
source
GOP lawmakers
try to revive Pebble mine project under Trump EPA - Some GOP lawmakers and
mining companies are banking on the EPA's new head, Scott Pruitt reversing
an earlier veto by the agency of a controversial mine project in Alaska's
Bristol Bay, despite local opposition and the threat to sockeye salmon fisheries.
-
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 27
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.93/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
now total just over the 378,600 tonne level. Unless LME warehouses receive
some huge shipments of nickel into their warehouses, we will see the first
monthly drop in stockpiles since last September. Nickel fell hard until mid
day Friday, when it started to recover. It's up again today and we put resistance
around $5/lb, where it had a problem at last week. Technical indicators are
positive and traders are responding. Some of last weeks drop can be blamed
on the US Dollar strengthening, some was due to the market momentum feeding
on itself and profit taking.
Average price of cash nickel so far this month - $4.80/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Politics Reigns as French Bonds Gain, Pound Slips: Markets Wrap -
more
China's nickel imports mirror shifts in supply chain: Andy Home - Is
the Philippines' draconian mining clampdown already affecting the flow of
nickel ore to China's nickel pig iron (NPI) producers? -
more
Eramet
revives Indonesia nickel project with Tsingshan partnership - France's Eramet
announced a preliminary agreement with Chinese steelmaker Tsingshan Group
to revive a nickel mining project in Indonesia that Eramet had frozen during
a downturn in nickel markets. -
more
Vale’s profits plunge amid low nickel price - Publicly listed
nickel mine operator PT Vale Indonesia (INCO) saw its profits plunge 96.2
percent year-on-year to only US$1.9 million in 2016, due to a 22 percent
drop in the global nickel price throughout the year. -
more
Vale CEO Ferreira to step down after term expires in May -
more
Nickel Ore – Philippines tightens supply / Indonesia relaxes ban
- The club understands that in a bid to clamp down on environmental degradation,
the Philippines Department of Environment and Natural Resources (DENR) has
ordered to close 23 of the country’s 41 nickel ore mines, amounting
to almost 50% of the Philippines’ nickel ore production (10% of global
supply). -
more
Philippines Plans To Shut 23 Mines Because Of Environmental Concerns -
audio here
ROSS
NORMAN - A Response to The LME Issue - Visualize the scene - a man in the
open seas and struggling. His fate is inevitable and the only uncertainty
is whether he dies by drowning or is taken out by the increasing number of
sharks that are circling. -
more
Congress
is shrinking, it isn’t in national interest, says Steel minister Chaudhary
Birender Singh - ‘National parties must be visible prominently. Cong
is shrinking, it isn’t in national interest’ -
more
Mining
minister seen as hindrance to Solomons exploration - A Solomon Islands mining
professional says more government support is needed to unlock the country's
significant mining potential. -
more
Nice
chart showing UAE stainless steel prices since 2003 - uncheck "reinforcing
Bars" and check "Stainless HR Coils" -
more
Meet
Evgenia Bednova, the woman paid $1 million by Clive Palmer’s Queensland
Nickel - The first most Australians would have heard of Evgenia Bednova was
when her name was mentioned in the Federal Court as someone who was paid
a staggering $1 million by Queensland Nickel. -
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 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.90/lb. Indicators
at 8:00 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell strongly on Wednesday and
now total just over the 381,700 tonne level. The $5/lb level appears to have
proved to be too much of a psychological barrier to maintain and nickel continues
to fall since closing above it for two days. Technicals have turned negative
and traders are responding in kind. Sorry for the late update - we had a
computer that did not want to cooperate today but a system restore brought
us back online. Have a great weekend!
Average price of cash nickel so far this month - $4.80/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Impressionism: In the shadow of the Superstack -
more
London Metal Exchange cuts deal with banks to propel gold futures -
more
Investors Weighing Earnings, Fed Hit Pause Button: Markets Wrap -
more
Nickel demand exceeded supply by around 100,000 mt in 2016: Glencore
- Global nickel consumption exceeded supply by around 100,000 mt in 2016,
Glencore said Thursday in its preliminary annual results statement. -
more
Nickel:
Legal action in the Philippines fails to reassure the market - Roskill view:
Nickel prices continued their rapid rebound after a drop in prices in December
and January, when prices briefly fell to US$9,430/t. -
more
South32's Forecast about Mn and Ni Production in FY2017 = Production
of both Mn ore and Ni in latter half is expected to be up = South32 Limited
announced its settlement of accounts in the former half of FY2017 (from July
1 to December 31 in 2016) and forecast the production in FY2018 (from 1 July
2017 to 30 June 2018). -
more
Minor
Bulk Trade: Indonesia Back In The Game? - Seaborne minor bulk trade is estimated
to have remained steady at best in 2016, making it the third consecutive
uninspiring year of minor bulk trade growth following the introduction of
Indonesia’s refined mineral export ban in January 2014. -
more
Man
killed and nickel worth R1 million stolen in Wadeville heist - A gang of
about 15 men murdered an elderly man and made off with nickel worth more
than R1 million in a robbery at the Lauds Foundry Equipment premises in
Wadeville‚ Ekurhuleni‚ on Wednesday morning‚ police said.
-
more
Kambalda faces future with no nickel output - Kambalda has run on nickel
dust since it kicked off the base metal’s Australian boom in the 1960s.
-
more
Clive
Mensink too stressed, anxious for Queensland Nickel court hearing, court
told - Former Queensland Nickel director Clive Mensink has been diagnosed
with clinical depression and anxiety and returning to Australia to face a
public court examination would prove difficult, a Brisbane court has been
told. -
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 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.94/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
approximately 384,000 tonnes. Nickel looked like it had beat the $5/lb level,
closing above it for 2 days, typically seen as a technical buy signal. But
profit takers drove nickel back below that level yesterday, and are continuing
the slide today. The International Study Group reported a surplus in nickel
production in December, which also may have sent a chill thru the market.
Something to keep in mind that we aren't hearing much about. One of the hottest
metals around right now is cobalt. Cobalt prices have surged 50% since last
fall, and speculators are buying up stock in anticipation of possible shortages.
Cobalt is primarily a by product of copper and nickel mining. Thus established
nickel miners with higher cobalt content, may be motivated to produce more
nickel for the potential cobalt sale. That's purely a speculative
observation on our part, but as we go forward into 2017, we may hear more
on it.
Average price of cash nickel so far this month - $4.80/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters) The worldwide nickel market registered a deficit of 49,700 tonnes
[in 2016] which compared with a surplus of 91,400 tonnes in 2015, industry
data showed.
(AK Steel) AK Steel said today that it will increase current spot market
base prices for all carbon flat-rolled steel products by a minimum of $30
per ton, effective immediately with new orders.
Euro Slips, Bonds Gain as Investors Turn Cautious: Markets Wrap -
more
Global nickel market swung into surplus in December -INSG -
The worldwide nickel market moved to a surplus of 9,700 tonnes in December
from a deficit of 1,700 tonnes the previous month, the International Nickel
Study Group said on Tuesday. -
more
Nickel
West delivers huge turnaround - The remarkable turnaround at BHP Billiton’s
Nickel West operations continued in the first half of the financial year,
with the company’s WA nickel operations delivering $US37 million in
underlying earnings in the December half. -
more
Market
Trend of Import of Ferroalloy as of 15 February 2017 = Drop in price of manganese
ore has impact at every place - The market trend of import of ferroalloy
as of 15 February 2017 is as follows. -
more
Mixed
reaction to Philippine mine closures - His brother kept telling him that
the mine would reopen and he would be hired again, but when Winston Ordonez
didn't get a call from a mining firm, he took a laptop charger cable, tied
it around his neck and hanged himself in his kitchen. -
more
Power
struggle: Australian smelters grapple with electricity uncertainty - Fed
up with unpredictable and often exorbitant electricity prices, Sun Metals
CEO Yun Birm Choi plans to invest A$183 million ($140 million) to build a
massive solar farm to power his zinc refinery in the Australian outback.
-
more
Could using stainless steel save SA millions in water losses? - With
South Africa experiencing stage two and three water restrictions following
its worst drought in decades, the spotlight falls on how to reduce leakages
and maintenance costs and preserve our already strained water resources into
the long-term future. -
more
Call
for Clive Palmer’s nephew Clive Mensink to be arrested over Queensland
Nickel case - The special purpose liquidator trying to claw back tens of
millions owed to the Federal Government by Clive Palmer’s Queensland
Nickel will apply for an arrest warrant for Mr Palmer’s nephew and former
QNI director Clive Mensink. -
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 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$5.06/lb. Indicators at
5:30 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose for a second consecutive
day and now total 384,900 tonnes. In two days, nickel stockpiles have risen
by over 5,400 tonnes and are now nearly 2,300 tonnes ahead of the start of
the month. We put next major resistance around $5.30/lb for nickel, giving
it some room to run. This will be some major resistance however, as it is
set at the highest nickel has traded at in over two years - seen in November
of last year. A stronger US Dollar has put the brakes on nickel's momentum
this morning, but for the most of February, a stronger Dollar has done little
to hamper nickel's bullish run.
Average price of cash nickel so far this month - $4.78/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Dollar Rises as Gain in Mining Stocks Offsets HSBC: Markets Wrap -
more
Copper, zinc, nickel up on supply concerns - The price of copper has
bounced back above $US6,000 a tonne as a dispute affecting production at
the world's second-biggest copper mine worsened, while zinc was boosted by
a drop in inventories. -
more
Sherritt mulling Ambatovy retreat to pop debt balloon - Sherritt's
dream of lifting Madagascar out of poverty and making a handsome packet for
itself on the proceeds from a huge nickel mine appear to be in jeopardy.
-
more
Ravensthorpe nickel has a future, says First Quantum - The owner of
Ravensthorpe’s biggest mine has given its strongest indication yet it
has no plans to shutter the 25,000-tonne-a-year nickel laterite operations
which employ 270 people on WA’s south coast. -
more
Mining row hurting supply chain - The Philippine Exporters Confederation
Inc. (Philexport) said the controversy in the mining industry has hurt the
supply chain, leaving the foreign market worried that local exporters might
not be able to fill their orders. -
more
Anglo
American recovery fuelled by rising commodity prices - Mining giant Anglo
American has swung to a full-year profit after it was boosted by recovering
commodity prices and a cost-cutting drive. -
more
Independence Group downgrades Nova production guidance - Independence
Group's new Nova nickel mine will likely fail to produce at its full capacity
this financial year after work at the project slowed because mining contractor
Barminco had difficulty recruiting workers. -
more
Courtesy
AISI - In the week ending on February 18, 2017, domestic raw steel production
was 1,766,000 net tons while the capability utilization rate was 74.6 percent.
Production was 1,709,000 net tons in the week ending February 18, 2016 while
the capability utilization then was 73.1 percent. The current week production
represents a 3.3 percent increase from the same period in the previous year.
Production for the week ending February 18, 2017 is up 1.6 percent from the
previous week ending February 11, 2017 when production was 1,738,000 net
tons and the rate of capability utilization was 73.4 percent. -
source
Palmer's nephew 'too sick for court' - Clive Palmer's globe trotting
nephew claims he's too sick to return home to face questions about Queensland
Nickel's collapse, with lawyers now considering whether to seek a warrant
for his arrest. -
more
New
Caledonia village warned about nickel in tap water - Excessive levels of
nickel in the water in the New Caledonian village of Kuto have prompted the
authorities to urge people to stop drinking tap water. -
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 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at $5.01/lb
. Indicators at
6:45 am CST today show 3 month nickel trading around $.01/lb
higher. Just when we
wrote that we thought February could see the first decline in monthly stockpiles,
LME warehouses saw a huge increase on Friday and start the week just under
the 383,800 tonne level. Nickle closed above the psychologically important
$5/lb both Thursday and Friday so most technical signals remain positive,
although it remains overbought. US markets are closed for the Presidents
Day holiday.
Average price of cash nickel so far this month - $4.76/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China steel mills caught on the hop by North Korea coal ban -
more
Europe Stocks Shrug Off Unilever as Pound Rallies: Markets Wrap -
more
China's
stainless steel mills stop offering as nickel prices up - Stimulated by the
strong nickel price rebounded recently, China's stainless steel mills decided
to stop offering this week. -
more
Philippines' Duterte says will review minister's decision to close
mines - Philippine President Rodrigo Duterte said he will review his minister's
order to close more than half the country's mines for environmental violations,
following an outcry from affected producers. -
more
South32
: Open to Offers for Colombian Nickel Mine - Mining company South32 Ltd.
was born out of BHP Billiton Ltd.'s desire to rid itself of assets ranging
from alumina refineries to manganese mines. Soon, South32 may consider doing
some housekeeping of its own.
- more
PHL
could lose position as top source of nickel; Indonesia resumes exports -
The Philippines could lose its standing as the world’s top nickel supplier
with Indonesia lifting its export ban on the metal, and after the Environment
department ordered closures and canceled concessions which affected 28 mines,
accounting for half of the country’s total nickel output. -
more
China
Sees Smaller Declines in Nickel Ore Inventories, SMM Reports, with Price
to Advance - Nickel ore inventories at seven major Chinese ports dropped
slightly in the week ending February 17 after a sharp decline during the
first trading week after the holiday, Shanghai Metals Market reported. -
more
Philippine miner ordered shut says to ship nickel ore in March - Philippine
miner Marcventures Mining and Development Corp, whose nickel mine was one
of 23 ordered to close by the environment ministry, said on Friday it will
take legal action to overturn the ruling and plans to ship out ore next month.
-
more
Philippine Miner Defies Minister's Shutdown Order -
more
Biz group says mine closure will lead to jobs loss -
more
Global Ferronickel bags another supply contract from HK 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
Thursday, February 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.95/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.01/lb
higher. Stockpiles
of nickel stored in LME approved warehouses slipped for a third consecutive
session and now total 380,100 tonnes. The decline in stockpiles this week
is the biggest drop we have seen in some time. LME nickel stockpile numbers
have actually grown over the last 4 months, but with half the month behind
us, February numbers are on pace to finish in the other direction. Stainless
prices are following nickel prices higher and we have posted an article below
in case you need to send your customer something as proof it's not your fault.
The Clive Palmer soap opera continues in Australia. You may wonder
why we continue to link to this story, but for an American, it is fascinating.
You see in America, if you are rich, you can nearly destroy the economy,
put millions of people out of work, and force millions more out of their
homes - but as long as your company will pay the government a fine for getting
caught, no one goes to jail. So this whole situation with Mr Palmer is not
something you would likely see take place in the US. So please forgive us
for our curiosity. This is our final update for the week so we wish each
of you a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.73/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Equity Rally Falters as Traders Turn to Havens: Markets Wrap -
more
Stainless
steel market stirs back to life - Prices of stainless steel are on an uptrend,
with producers and distributors breathing a sigh of relief after a prolonged
slump. -
more
LME's
Chamberlain favorite to take wheel of metals juggernaut - Acting head Matt
Chamberlain is fast emerging as the frontrunner to permanently take the reins
at the London Metal Exchange, with industry insiders saying he has the skills,
experience and knowledge to resolve a conflict with members and grow volumes.
-
more
China's
Production of SUS Crude Steel in 2016 Is 24.9378 Mil. Tons = Up by 16% from
prior year, and production of all steel types is up = Stainless Steel Council
of China Special Steel Enterprises Association announces China's production
of stainless crude steel in the full year 2016 (January - December) was 24.9378
million tons, up by 15.7% from 21.5622 million tons in the prior year. -
more
Philippines’ Duterte says cancellation of mining contracts based
on law - Philippine President Rodrigo Duterte on Wednesday supported his
environment minister's decision to cancel nearly a third of contracts for
undeveloped mines, saying it was based on law. -
more
First
Quantum says restores access to Ravensthorpe nickel mine - Access to the
Ravensthorpe nickel mining complex in Australia has been re-established following
heavy rains last weekend that flooded local roadways, owner First Quantum
Minerals said on Thursday. -
more
Exports
of Steel and Nickel scrap by the US ended 2016 on a high note - The latest
trade data published by the US Census Bureau and International Trade Commission
(ITC) suggests modest rise in steel scrap exports by the country during the
final month of 2016. -
more
SAIL’s Salem plant supplies steel to ISRO’s 104 satellites
- The steel authority of India limited (SAIL), a Maharatna enterprise, has
added another feather to its cap by supplying steel to Indian space research
organisation (ISRO) for the launch of a record 104 satellites in a single
rocket on February, 15. -
more
Clive
Palmer defends conversation with nephew Clive Mensink during Queensland Nickel
case - Clive Palmer has told the Federal Court in Brisbane it is unfair to
blame him for the collapse of Queensland Nickel, as he is questioned for
a second day. -
more
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 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.89/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around .01/lb
.higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just over the 380,600 tonne level. Cancelled warrants are falling again,
and back solidly under the 30% level. Nickel is testing resistance, with
the psychological barrier of $5/lb looming. The Chinese steel index fell
again in February. Market news is light today.
Average price of cash nickel so far this month - $4.72/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Yellen Fuels Bank Stocks as Traders Eye Inflation: Markets Wrap -
more
S&P
Global Platts China Steel Sentiment Index Softens in February - Chinese steel
market sentiment softened further in February as the market returned from
the Lunar New Year holiday period, with the outlook for domestic steel orders
deteriorating since last month, according to the latest S&P Global Platts
China Steel Sentiment Index (CSSI), which showed a headline reading of 25.21
out of a possible 100 points. -
more
What’s Impact from Indonesia New Export Policy? SMM Reports -
Indonesia’s Finance Ministry said this Monday to levy 7.5 percent export
taxes on lead, zinc, iron and copper concentrate, and 10 percent duties will
be imposed on nickel ore with Ni content less than 1.7 percent and on bauxite
with aluminum oxide content of at least 42 percent. -
more
Japan’s stainless steel scrap imports record 12% jump in 2016
- According to latest statistics released by the Japanese Ministry of Finance
(MoF), the country’s stainless steel scrap imports have registered
significant increase during 2016. -
more
Suicide, lost jobs after Philippine mine closures, but some relieved
- His brother kept telling him that the mine would reopen and he would be
hired again: but when Winston Ordonez didn't get a call from a mining firm,
he took a laptop charger cable, tied it around his neck and hanged himself
in his kitchen. -
more
Botswana chamber adopts Canada’s sustainable mining programme - The
Botswana Chamber of Mines (BCM) has announced that it will adopt the Towards
Sustainable Mining (TSM) initiative, a corporate social responsibility programme
developed by the Mining Association of Canada (MAC) to improve environmental
and social practices in the mining industry. -
more
Clive
Palmer 'can't recall' huge payments from coffers of Queensland Nickel. -
Clive Palmer has told a court an $8m payment to his father-in-law from his
Queensland Nickel business in the years before its collapse may have been
out of “love and affection”. -
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 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.87/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.07/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just under the 381,550 tonne level. Philippine Environment Secretary Regina
Lopez continued her assault on mining and according to one report, accused
miners of raping her country. Today she ordered the cancellation of 75 mining
contracts. This action is further bolstering nickel bulls, who believe this
attack on one of the large suppliers of nickel in the world, will adversely
affect the supply/demand balance.
Average price of cash nickel so far this month - $4.70/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Philippines' environment agency to cancel 75 mining contracts - The
Philippine environment minister on Tuesday ordered the cancellation of mining
contracts in watershed areas, taking another bold step in protecting resources
from extraction after earlier shutting more than half of the country's mines.
-
more
Philippine environment minister doubles down on mining crackdown -
more
Saying mining is 'raping' us, Philippines minister continues crackdown -
more
Nickel
market rebalancing put on hold as divergent Indonesia, Philippines strategies
signal standoff - A rebalancing of the nickel market has been cast into doubt
as divergent strategies by major producers Indonesia and the Philippines
muddle the outlook, a recent report by Bank of America Merrill Lynch has
found. -
more
Ni
SUS Scrap Purchase Price in Kanto in Feb Starts with JPY130,000/135,000 =
Remains unchanged from January on alert against recovery in LME Ni price
and difficult cargo booking = As of February 7, Stainless steel mills in
the Kanto area offer the purchase price (delivered at plant) of nickel-containing
stainless steel scrap (SABOT) at the range from JPY130,000 to JPY135,000
per ton. The price starts with the situation of remaining unchanged from
January. (Hereinafter, the price is per ton) -
more
Antam
Has 5m Tons of Low-Grade Nickel Ore for Export - State-controlled miner Aneka
Tambang (Antam) has an estimated 5 million tonnes of low-grade wet nickel
ore available for immediate shipping, corporate secretary Trenggono Sutioso
told Reuters on Monday -
more
Aluminium's parallel universes are colliding: Andy Home - There was
a time when the global aluminium market could be seen as two parallel universes,
to borrow a phrase coined by Klaus Kleinfeld, chairman and chief executive
of Alcoa. -
more
Clive
Palmer says he'll sue PM for $10M over 'lies' - Clive Palmer says he will
sue Prime Minister Malcolm Turnbull and Employment Minister Michaelia Cash
for defamation over "lies" about his role in the collapse of Queensland Nickel.
-
more
Railway
to Ring of Fire favoured - KWG Resources sees a bright future for the Ring
of Fire and believes the best way to reach that future is on iron rails.
-
more
Courtesy
AISI - In the week ending on February 11, 2017, domestic raw steel production
was 1,738,000 net tons while the capability utilization rate was 73.4 percent.
Production was 1,709,000 net tons in the week ending February 11, 2016 while
the capability utilization then was 73.1 percent. The current week production
represents a 1.7 percent increase from the same period in the previous year.
Production for the week ending February 11, 2017 is up 0.9 percent from the
previous week ending February 4, 2017 when production was 1,723,000 net tons
and the rate of capability utilization was 72.7 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, February 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.84/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.06/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday but increased
on Friday and start the week just under the 383,050 tonne level. Stockpiles
of zinc now sit 610 tones higher than nickel stockpiles with cancelled warrants
running at 28.37% compared to nickel's 28.52%. Nickel mines in the Philippines
report no damage after this weekend's earthquake, although many are closed
due to the Environmental Minister's declaration of war on mining. President
Duterte told reporters he has Gina's back (apparently what Minister Regina
Lopez goes by) in her decision to shut down numerous nickel mines. The technical
line of resistance at $4.75/lb has fallen, with the next target at $4.97/lb,
with the important psychological line at $5.00/lb. We show nickel trading
above its 10, 30, 100 and 200 day moving averages, putting nickel trading
in the overbought position, but all other technical signals are bullish.
Average price of cash nickel so far this month - $4.68/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Global Stocks Keep Climbing as Treasuries Decline: Markets Wrap -
more
Fake receipts at Glencore warehouse unit triggered sector credit freeze,
Qingdao shivers -sources - Some global banks briefly froze credit lines for
Singapore metal traders last month after a unit of commodities giant Glencore
uncovered fake warehousing receipts, people familiar with the matter said,
reviving the spectre of a $3 billion scandal that rocked the trading world
three years ago. -
more
Australia's Ravensthorpe nickel mine cut off by rains -First Quantum
- Heavy rains have cut access in and out of the Ravensthorpe nickel-producing
operations in Western Australia, owner First Quantum Minerals said on Monday.
-
more
Terrafame's mine to continue ramp-up after financing deal with Trafigura
- Trafigura, a multinational commodity trading company based in Geneva,
Switzerland, has acquired a 15.5 per cent stake in Terrafame, a Finnish
state-owned mining company, as part of a 250 million euro funding arrangement..
-
more
Philippines mining shutdown - The Philippines is the world's biggest
supplier of nickel ore. President Rodrigo Duterte's government has shut down
over half of the country's mines. -
more
Duterte: Nothing I can do about mining closures if companies can’t restore
nature -
more
Philippines starts to repair damage in quake-hit southern province -
more
Import
Volume of Stainless Steel Scrap in December 2016 - According to the import
statistics prepared by the Ministry of Finance, the import volume of stainless
steel scrap in December 2016 was 7,309 tons, down by 2.0% from the prior
month. -
more
Clive
Palmer targets Michaela Cash in defamation claim - Clive Palmer has claimed
he lives in fear because of a damning character assessment by the Turnbull
Government, and has demanded $250,000 in compensation. -
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 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.76/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 Wednesday and now total
just under the 382,600 tonne level. Nickel closed above resistance yesterday
but is struggling to do it a second consecutive day. Doing so could send
a bullish technical signal to the market. As is, a few technicals have turned
bearish, with the stochastic reading showing the market is overbought. Reports
from the Philippines is causing further confusion, with Lopez's mine closure
announcement last week, apparently overriding the commission's recommendations
and now in question. Apparently the miners are being told they will have
their day in court - so the drama will continue for some time. Interesting
point to ponder - Although Lopez has the full backing of President Duterte,
she has yet to be confirmed by the Philippine Congress in her position.
This is our final update for the week, so we hope each of you has a
relaxing and enjoyable weekend.
Average price of cash nickel so far this month - $4.67/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Volatility & rising prices: The commodity rally is squeezing MSMEs -
more
Europe Stocks Extend Asia Momentum as Bonds Climb: Markets Wrap -
more
Philippines follows Indonesia in confounding nickel market expectations -
The Philippines has followed the Indonesian government in surprising the
nickel market. The Department of Environment and Natural Resources (DENR)
has ordered the closure of 23 mines in the country following an audit process
which started back in July 2016. The DENR also maintained that five mines
should remain suspended. -
more
Nickel industry group lauds due process for shuttered mines -
more
Duterte's legal counsel says mine closures, suspension will undergo due process
-
more
Lopez says mine closures in watershed areas non-negotiable -
more
Will
LME Nickel Keep Rising Strength Seen in 2017 Chinese New Year Holiday? SMM
Reports - LME nickel rallied from lows during the 2017 Chinese New Year Holiday
from January 27 to February 2. LME nickel registered a 5-day rising streak
after the Philippine’s decision to close 21 mining operations, and most
of the mines are nickel ore producers, sending LME nickel up to $ 10,500
per tonne. -
more
Import
Volume of SUS Products in December 2016 Is 19,474 Tons = Down by 1% from
prior month because of decreased import of products loaded in South Korea
= The import volume of stainless steel products in December 2016 which was
compiled by the Japan Iron and Steel Federation based on the foreign trade
statistics prepared by the Ministry of Finance was 19,474 tons, down by 1.0%
from 19,666 tons in the prior month. -
more
Confident
of maintaining current EBITDA margins in upcoming quarters: Ashok Gupta,
Jindal Stainless - In a chat with ET Now, Ashok Gupta, Jindal Stainless ,
said his company is expecting to maintain the profits despite fall in prices
as demand will pick up. -
more
India Nickel
Scrap prices remain stable; Nickel Futures advance nearly 2% - India's major
nickel scrap prices remained stable on the Scrap Register Price Index as
on Monday, while nickel futures prices at India's Multi Commodity Exchange
advanced by nearly 2 percent led by news from Philippine. -
more
Latest issue
of Nickel Magazine - From farm to fork, the essential part nickel plays in
food production -
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 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.69/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.07/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell slightly on Tuesday and
now total just under the 383,250 tonne level. Nickel is testing resistance
today, and so far, is holding above that line by a few pennies. We have the
next line of resistance at $5.32/lb, so if the market closes above $4.75/lb
for two consecutive days, it could send a very bullish signal. Another day
of heavy reading below so enjoy.
Average price of cash nickel so far this month - $4.65/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
INTL FCStone analyst Edward Meir - "More important to the sustainability
of nickel's bullish narrative is whether Indonesia will further ramp up its
output, as it has already been doing for some time now.....New Caledonia
is also gearing up, granting three more companies the right to export nickel
ore to China. Pressure could also start forming on the demand side as well;
although Chinese stainless demand has been very strong this past year, we
don't see the same rate of growth in 2017."
Earnings Buoy Stocks as Peripheral Bonds Recover: Markets Wrap
- more
Nickel market roiled by supply outlooks in Indonesia, Philippines
- The nickel market has been undergoing wild swings this year, pummeled by
Indonesia's move to relax an export ban but later buoyed by expectations
of a supply decrease from the Philippines. -
more
Chinese
Imports of Nickel Ore and Concentrates plunged 35% in December - The Chinese
Customs authorities have released the foreign trade statistics for the
country’s imports and exports of Nickel-containing products during 2016.
-
more
LME
Ni Average Price in January Down by 9% from Prior Month = Inventory level
is up and rises to 382,290 tons at end of month = LME monthly average nickel
price in January 2016 was Cash seller: US$9,984.29 per ton (US$4.529 per
lb) and 3-month seller: US$10,039.76 per ton (US$4.554 per lb). -
more
Mine closures worry nickel buyers - The Environment department’s
decision to shutter and suspend more than three-fifths of the country’s
41 metal mines, which account for half of the country’s nickel supply,
is rattling nickel buyers, especially in China and Japan, an industry official
said. -
more
Pollution
cuts from Norilsk Nickel could quiet Norwegian rebels - Norilsk Nickel head
Vladimir Potanin announced plans to spend $17 billion in the company’s
modernization during a meeting with President Vladimir Putin last week, about
a quarter of which will go toward environmental improvement, by 2023. -
more
US DLA
sells low-carbon ferrochrome; offers more material - The US Defense Logistics
Agency has sold 151 st of low-carbon ferrochrome from the national stockpile
in the month of January at a single sale held on January 31, the agency said
Tuesday. -
more
Clive
Palmer tries to delay Queensland Nickel court hearing - A judge is considering
whether to delay the questioning of Clive Palmer about claims he used his
failed Queensland Nickel business to bankroll other companies and his political
party. -
more
Global
Stainless Steel Market 2016 – Acerinox, Aperam, Thyssen Krupp, Jindal
Stainless, AK Steel, Outokumpu USA, Mexinox - Global Stainless Steel Market
2016, presents a professional and in-depth study on the current state of
the Stainless Steel market globally, providing basic overview of Stainless
Steel market including definitions, classifications, applications and industry
chain structure. -
more
Exclusive:
White House eying executive order targeting 'conflict minerals' rule - sources
- President Donald Trump is planning to issue an executive order targeting
a controversial Dodd-Frank rule that requires companies to disclose whether
their products contain "conflict minerals" from a war-torn part of Africa,
according to sources familiar with the administration's thinking. -
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 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.74/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored i LME approved warehouses rose on Monday and now total just
under the 383,300 tonne level. A stronger US Dollar is putting negative pressure
on base metal trading this morning and at the moment, that is enough to push
nickel lower. Technical signals remain tilted to the bullish side. The
Philippines' Environment and Natural Resources Secretary Regina Lopez is
fast becoming the poster child for anti-mining groups around the world with
her decision that the Philippines eco-system are to fragile for mining activity.
Those who were considering investing in this country are taking notice.
Average price of cash nickel so far this month - $4.64/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Dollar Jumps, Gold Falls as Demand for Havens Ebbs: Markets Wrap -
more
Nickel market doubles up on political uncertainty: Andy Home - Last month
Indonesia rocked the nickel market. This month it is the turn of the Philippines.
-
more
Asian Q1
ferrochrome contract prices set at 110-128 cents/lb CIF - Specialty steelmakers
in Asia set first quarter high-carbon ferrochrome contract prices in a wide
range of 110-128 cents/lb CIF because different mills bought at different
times over the last four months, market sources said Monday. -
more
Philippine
mining firms urge minister to publish audit - A Philippine mining industry
body said it will file a freedom of information request on Tuesday to press
the government to release the results of a mining audit, following an order
to close over half of the country's mines. -
more
30,000 jobs at stake with closure of mine firms — Chamber of Mines Caraga
-
more
Sherritt’s
nickel-price boost capped by debt, ‘confusing’ U.S. signals on
Cuba - David Pathe knows what it’s like to be banned from the United
States. -
more
Philippines
orders mines shut: Medusa unaffected, but nickel sentiment boosted - The
Philippine authorities are cracking down on environmental violations, but
Medusa is unaffected -
more
Courtesy
AISI - In the week ending on February 4, 2017, domestic raw steel production
was 1,723,000 net tons while the capability utilization rate was 72.7 percent.
Production was 1,665,000 net tons in the week ending February 4, 2016 while
the capability utilization then was 71.2 percent. The current week production
represents a 3.5 percent increase from the same period in the previous year.
Production for the week ending February 4, 2017 is down 0.7 percent from
the previous week ending January 28, 2017 when production was 1,736,000 net
tons and the rate of capability utilization was 73.3 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, February 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.64/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose on Friday and start the
week just under the 382,200 tonne level. Most technical signals are bullish
this morning, and we show the next line of resistance around $4.74/lb. This
gives nickel some room to run, but traders appear to be somewhat cautious
with China returning to work today after a week long holiday break. Bulls
are probably kicking stray dogs after a near miss in January. With the
Philippines shutting down nickel mines like crazy, had the three year Indonesia
export ban on nickel ore been renewed, we could be seeing nickel traded prices
soaring. But just as things in the Philippines turned sour, Indonesia decided
to lift some of its export restrictions. LME nickel stockpiles bottomed out
on October 13th , when they fell to 360,096 tonnes. Since then they have
slowly increased. We expect a volatile trading week.
Average price of cash nickel so far this month - $4.62/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Reuters - Friday - The Philippine move will potentially result in a loss
of 50,000 tonnes of supply in the global nickel market and deepen this year's
supply/demand deficit to 97,000 tonnes, said Jim Lennon, senior commodities
consultant with Macquarie. "A moderate deficit becomes a significant deficit,"
he said in a note. "The immediate impact of such a programme of closures
will be to raise nickel ore prices."
Currencies, Bonds Underscore Rising Political Risk: Market Wrap -
more
Philippines "unfit for mining" because of nation's unique ecosystem
- minister - Philippine Environment and Natural Resources Secretary Regina
Lopez will not reconsider her decision to shut down 23 of the country's 41
mines, saying the Southeast Asian nation is "unfit for mining." -
more
Team advised Philippine mine suspensions, not closures: sources -
more
PHL mining group says mine closures, suspension to affect 1.2 million people
-
more
Mine closure order will cost jobs: Philippine ministers -
more
Philippine ministers concern over mass pit closure -
more
China's
Import and Export Results of Nickel in December 2016 - According to the foreign
trade statistics of China, the import and export results of nickel-containing
products in December 2016 are as per the table below. -
more
China releases Nickel Import, Export Trade Statistics for 2016 -
more
China
Hanking to resume Indonesia nickel mine production - China Hanking
said it has decided to initiate the preparatory works to resume mining production
from the laterite nickel project located in North Konawe Regency, South East
Sulawesi Province, Indonesia since the first half of 2016. -
more
Govt
ponders banning raw chrome exports - Mines minister Walter Chidakwa has disclosed
that the government is losing millions of dollars in potential revenue by
allowing chrome miners to export the mineral in its raw form instead of
beneficiated ferrochrome, which fetches a higher price on the international
market. -
more
Japan
ferrochrome price rises as low offers disappear amid active trade - The S&P
Global Platts CIF Japan ferrochrome price rose to $1.13-$1.20/lb CIF Japan
Friday, from $1.10-$1.15/lb CIF Japan a week ago as offers as low as $1.10/lb
were no longer heard amid active trade. -
more
Hill says time to go Clive - Mayor Jenny Hill is calling on Clive Palmer
to make his intentions clear about the future of Queensland Nickel’s
Yabulu refinery. -
more
US finds
on final steel dumping margins - The US Commerce Department on Thursday stepped
closer to placing duties on imports of stainless steel sheet and strip from
China, issuing a final determination that the products were being subsidized
and dumped in the US market at below fair value.-
more
Beijing warns US over high taxes on Chinese steel 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
Thursday, February 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.65/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.08/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and started
today just under the 383,100 tonne level. Cancelled warrants have been stuck
at or near the 30% level since last Thursday. Environment and Natural Resources
Secretary Regina Lopez is taking more action against miners in the Philippines,
while her boss puts a temporary halt on his war on drugs. Nothing like seeing
miners and drug dealers making the headlines at the same time as jointly
destroying the fabric of Philippine society. Lopez has come to office with
an agenda and has decided that mining in her country are the root of all
environmental evil, and anyone betting her attacks won't continue, is betting
against the odds. In the mean time, traders are betting her war on nickel
will help boost the cost long term. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.55/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Dollar Falls as Fed Path Assessed; Stocks Retreat: Markets Wrap -
more
Philippines to shut half of mines, mostly nickel, in environmental
clampdown - The Philippines ordered the closure on Thursday of 23 mines,
mainly nickel producers that account for about half of output in the world's
top nickel ore supplier, in a government campaign to fight environmental
degradation by the industry. -
more
Mining firms to seek legal remedies after closure, suspension orders -
more
Stainless steel maker Outokumpu proposes first dividends since 2010
- Outokumpu, Europe's largest stainless steel maker, reported its first annual
core operating profit since 2007 on Thursday and proposed its first dividend
since 2010, sending its shares sharply higher. -
more
Service
Center Shipments Down Across the Board - Service center shipments in the
U.S. and Canada finished 2016 with year-over-year declines in both steel
and aluminum, reports the Metals Service Center Institute, Rolling Meadows,
Ill. Inventories mostly remained below prior-year levels, though stocks crept
up at year’s end. -
more
Finnish
PM cleared in nickel mine conflict of interest review - Prime Minister Juha
Sipila was cleared by Finland's parliamentary watchdog on Wednesday of any
conflict of interest over the government's funding decisions for a state-owned
nickel mine, following a public outcry. -
more
Glencore - Production Report for the 12 months ended 31 December 2016
-
more
Freeport's
Mo Production in 2016 Is 80 Million LBS = Down by 13% from prior year, and
sales volume is 74 million lbs, down by 17% ditto = On January 25,
Freeport-McMoRan Copper & Gold Inc. (FCX), a gold mining company in the
U.S. announced its production and sales volumes in the full year 2016 (January
- December) and also in the period from October to December. -
more
Philippines news a tale of differing fortune for Aussie miners - Shares
in Western Areas soared while those of Oceanagold dived after the Philippines
moved to close down at least five nickel mines and suspend others, including
the country’s top gold producer. -
more
Feasibility of reopening Kimberley nickel mine looking good for Panoramic
Resources - Mining company Panoramic Resources says it is in a good position
to restart its nickel mine north of Halls Creek as soon as the commodity
price improves. -
more
Who’s
Afraid of Steel Import Duties? - Steel import tariff rates have always been
a sensitive issue for government officials and industry players. -
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 1
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.52/lb. Indicators at
6:30 am CST today show 3 month nickel trading around $.04//lb higher. Stockpiles
of nickel stored in LME approved warehouses rose on Tuesday and now total
just over the 382,600 tonne level. We have shifted our morning update time
to between 6:30 and 7 am CST, instead of an hour earlier. Nickel has regained
the $10,000 tonne level today, and now has paused as traders decide if this
bullish run is technically driven, or in anticipation of China returning
from their week long holiday next week in a buying mood. Lots of news to
start the new month so enjoy.
Average price of cash nickel so far this month - (January average) $4.53/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Corporate Outlook Spurs Stocks as Eyes Turn to Fed: Markets Wrap -
more
El Niño–Southern Oscillation remains neutral -
more
Russia's
Nornickel sees nickel, palladium output up in 2017 - Norilsk Nickel
(Nornickel) , one of the world's largest nickel and palladium producers,
plans to increase output of its main metals from Russian raw material this
year, the company said in a statement on Tuesday. -
more
Meeting with Norilsk Nickel CEO Vladimir Potanin -
more
Philippine minister says some mines need to be shut on eve of green
audit results - Some Philippine mines need to be shut given the environmental
harm they have caused, the minister in charge of sector said on Wednesday,
a day before the government announces the results of a months-long review
of the country's mineral producers. -
more
Nickel
stocks spin as Indonesia eases export ban - Shares in miners and metal producers
have swung wildly as Indonesia's relaxing its nickel export ban raised hopes
about their business prospects as well as concerns over falling prices of
the metal. -
more
Sherritt forecasts higher 2017 nickel output - Canada-based Sherritt
International Resources is forecasting higher nickel production in 2017,
especially from its 40%-owned Ambatovy nickel and cobalt joint venture (JV),
in Madagascar. -
more
BHPB's
Production of Nickel and Molybdenum in Oct-Dec 2016 = When compared with
prior period, production of nickel is up but production of molybdenum is
down = On January 25, BHP Billiton Limited (BHPB) announced its production
results and sales volumes in the period from October to December in 2016.
-
more
Lawsuit:
Feds sold Superior National Forest land to mining company for way too cheap
- Canadian mining company PolyMet wants to open a first-of-its-kind mine
in the Superior National Forest to crack into the area’s rich deposits
of copper, nickel, and platinum. -
more
Contract
for Mine Millers 'a tough one' - Union representatives were confident a tentative
deal with Glencore's Sudbury Integrated Nickel Operations would be approved
Tuesday as production and maintenance workers packed a conference room at
the Radisson Hotel to place their votes. -
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 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
(8:00 AM CST is 1PM in London)
. Indicators at 6:20 am CST today show 3 month
nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just over the 377,450 tonne level. Nickel closed just over the $5/lb level
yesterday, but once again is having problems holding on to it. Secretary
of Environment and Natural Resources Gina Lopez had her first confirmation
hearing cancelled after it became apparent her confirmation might be in trouble
with the current committee. Nickel miners working for Glencore in Sudbury
agreed to a contract yesterday. Earlier this month Xstrata miners in Sudbury
agreed to a new contract, and the Vale miners contract doesn't expire until
2020.
Reports
Commodity/Economic Comments
China's Feb
stainless steel output regains momentum after Lunar New Year - China's stainless
steel production has regained momentum in February after Lunar New Year holidays
trimmed output in January, Yujing Liu, analyst at Chinese consultancy Antaike,
said Tuesday. -
Glencore,
Steelworkers in Sudbury, reach deal - Glencore and its office, clerical and
technical employees have reached a tentative agreement. -
Tata
Steel starts production at ferro-chrome plant in Odisha - Tata Steel’s
first greenfield ferro-chrome plant in India at Gopalpur Industrial Park
in Ganjam district of Odisha has started production. -
New
Caledonia urges nickel workers to help keep SLN open - The New Caledonian
government is urging unions representing workers at the country’s largest
nickel mining firm to accept reduced working hours in order to stave off
job losses. -
Why
miners are not ready for Gina Lopez - Mining industry players did not invest
enough in building goodwill. And this explains why they were not prepared
for someone like Gina Lopez. -
Courtesy
AISI - In the week ending on February 25, 2017, domestic raw steel production
was 1,770,000 net tons while the capability utilization rate was 74.7 percent.
Production was 1,709,000 net tons in the week ending February 25, 2016 while
the capability utilization then was 73.1 percent. The current week production
represents a 3.6 percent increase from the same period in the previous year.
Production for the week ending February 25, 2017 is up 0.2 percent from the
previous week ending February 18, 2017 when production was 1,766,000 net
tons and the rate of capability utilization was 74.6 percent. -
Morning Nickel
Price Statistics & Figures
China's nickel imports mirror shifts in supply chain: Andy Home - Is
the Philippines' draconian mining clampdown already affecting the flow of
nickel ore to China's nickel pig iron (NPI) producers? -
Eramet
revives Indonesia nickel project with Tsingshan partnership - France's Eramet
announced a preliminary agreement with Chinese steelmaker Tsingshan Group
to revive a nickel mining project in Indonesia that Eramet had frozen during
a downturn in nickel markets. -
Mining
minister seen as hindrance to Solomons exploration - A Solomon Islands mining
professional says more government support is needed to unlock the country's
significant mining potential. -
Nice
chart showing UAE stainless steel prices since 2003 - uncheck "reinforcing
Bars" and check "Stainless HR Coils" -
Meet
Evgenia Bednova, the woman paid $1 million by Clive Palmer’s Queensland
Nickel - The first most Australians would have heard of Evgenia Bednova was
when her name was mentioned in the Federal Court as someone who was paid
a staggering $1 million by Queensland Nickel. -
Nickel demand exceeded supply by around 100,000 mt in 2016: Glencore
- Global nickel consumption exceeded supply by around 100,000 mt in 2016,
Glencore said Thursday in its preliminary annual results statement. -
Nickel:
Legal action in the Philippines fails to reassure the market - Roskill view:
Nickel prices continued their rapid rebound after a drop in prices in December
and January, when prices briefly fell to US$9,430/t. -
Minor
Bulk Trade: Indonesia Back In The Game? - Seaborne minor bulk trade is estimated
to have remained steady at best in 2016, making it the third consecutive
uninspiring year of minor bulk trade growth following the introduction of
Indonesia’s refined mineral export ban in January 2014. -
Man
killed and nickel worth R1 million stolen in Wadeville heist - A gang of
about 15 men murdered an elderly man and made off with nickel worth more
than R1 million in a robbery at the Lauds Foundry Equipment premises in
Wadeville‚ Ekurhuleni‚ on Wednesday morning‚ police said.
-
Market
Trend of Import of Ferroalloy as of 15 February 2017 = Drop in price of manganese
ore has impact at every place - The market trend of import of ferroalloy
as of 15 February 2017 is as follows. -
Could using stainless steel save SA millions in water losses? - With
South Africa experiencing stage two and three water restrictions following
its worst drought in decades, the spotlight falls on how to reduce leakages
and maintenance costs and preserve our already strained water resources into
the long-term future. -
Sherritt mulling Ambatovy retreat to pop debt balloon - Sherritt's
dream of lifting Madagascar out of poverty and making a handsome packet for
itself on the proceeds from a huge nickel mine appear to be in jeopardy.
-
Anglo
American recovery fuelled by rising commodity prices - Mining giant Anglo
American has swung to a full-year profit after it was boosted by recovering
commodity prices and a cost-cutting drive. -
South32
: Open to Offers for Colombian Nickel Mine - Mining company South32 Ltd.
was born out of BHP Billiton Ltd.'s desire to rid itself of assets ranging
from alumina refineries to manganese mines. Soon, South32 may consider doing
some housekeeping of its own.
-
Botswana chamber adopts Canada’s sustainable mining programme - The
Botswana Chamber of Mines (BCM) has announced that it will adopt the Towards
Sustainable Mining (TSM) initiative, a corporate social responsibility programme
developed by the Mining Association of Canada (MAC) to improve environmental
and social practices in the mining industry. -
Terrafame's mine to continue ramp-up after financing deal with Trafigura
- Trafigura, a multinational commodity trading company based in Geneva,
Switzerland, has acquired a 15.5 per cent stake in Terrafame, a Finnish
state-owned mining company, as part of a 250 million euro funding arrangement..
-
Latest issue
of Nickel Magazine - From farm to fork, the essential part nickel plays in
food production -
Pollution
cuts from Norilsk Nickel could quiet Norwegian rebels - Norilsk Nickel head
Vladimir Potanin announced plans to spend $17 billion in the company’s
modernization during a meeting with President Vladimir Putin last week, about
a quarter of which will go toward environmental improvement, by 2023. -
Global
Stainless Steel Market 2016 – Acerinox, Aperam, Thyssen Krupp, Jindal
Stainless, AK Steel, Outokumpu USA, Mexinox - Global Stainless Steel Market
2016, presents a professional and in-depth study on the current state of
the Stainless Steel market globally, providing basic overview of Stainless
Steel market including definitions, classifications, applications and industry
chain structure. -
Who’s
Afraid of Steel Import Duties? - Steel import tariff rates have always been
a sensitive issue for government officials and industry players. -
Russia's
Nornickel sees nickel, palladium output up in 2017 - Norilsk Nickel
(Nornickel) , one of the world's largest nickel and palladium producers,
plans to increase output of its main metals from Russian raw material this
year, the company said in a statement on Tuesday. -
