This
page is archived news covering the period of January 2013
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Thursday, January 31
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$8.33/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.02/lb
higher but fading,
with other London traded base metals trading sideways and off earlier highs.
Stockpiles of nickel stored in LME approved warehouses fell on Wednesday
and now total just over the 150,000 tonne level. Base metals were trading
higher this morning but have seen quieted as the European equity market falls
on US economic recovery concerns.The Euro continues to trade higher, but
for the moment, its boost to metals is waning. Today is the last day of scheduled
contract negotiations between Xstrata and Mine Mill. Not finding any updates
in the Sudbury media, although every major highway surrounding the town is
closed due to a massive snow storm, so it is possible the two sides may announce
a weather delay. Nickel's charge over the last two days is taking a break
today and we will have to see if it is running out of gas.
(CS) China's crude steel output grew 3.1 percent to 716.54 million tonnes
in 2012, down 5.8 percentage points from a year earlier, the China Iron and
Steel Association(CISA) said Thursday.
(SSY) The world export price of hot rolled band rose by $15/t from two weeks
ago to $578/t, the highest level since end-August 2012, according to the
latest SteelBenchmarker published by World Steel Dynamics. However, this
is still $65/t lower than the year-ago level.
Goldman Sachs - Though we remain bearish on the 3-6 month outlook for nickel
from current prices, and prices have rallied by c.10% since November 2012
to $17,500/t, it may be too soon to be establishing short positions in nickel.
Maxim Naumchenko will be in charge of MMC Norilsk Nickel’s strategic
development -
more
Yesterday's bounce in relation to last 3 months of trades
Sumitomo
Metal, Vale Consider Building Nickel Plant in Indonesia - Sumitomo Metal
Mining Co., Japan’s top nickel producer, said it has joined PT Vale
Indonesia Tbk (INCO) on a pre-feasibility study for a nickel processing plant
in Indonesia. -
more
South
African ferrochrome output cuts expected to boost prices - Ferrochrome production
cuts in South Africa are likely to persist into the second quarter, boosting
prices at a time of weak demand, traders said. -
more
MSCI: Early Gains
Disappear as 2012 Shipments Match 2011 - Service center shipments of steel
and aluminum finished 2012 about the same as in 2011. With the exception
of a modest increase in aluminum shipments in Canada, the slowdown that
characterized the second half wiped out most gains earlier in the year. -
more
China Ferroalloy
Production By Division - December 2012 = Down 1.4% from November; yearly
production of 2012 up 15.0% from 2011 = Production of ferroalloys by division
(province, region and municipality) in China in the single month of December
2012 as well as during the calendar year of 2012 are as per the table attached
hereto. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Wednesday, January 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$8.10/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.19/lb
higher, with all London
traded base metals higher as well. Stockpiles of nickel stored in LME approved
warehouses rose on Tuesday and now totals just over the 150,050 tonne level.
We show nickel closed above minor resistance yesterday, and another close
today, which looks highly likely, would mean $8.55/lb could be our next line
of resistance. The Euro is trading higher than it did all last year, which
is giving base metals a big boost. We are only a few weeks away from the
week long Chinese Lunar New year shut down, and China's return afterwards,
will be watched closely by many who believe things could kick into high gear.
For every piece of evidence to confirm this theory though, there are indications
it could be mostly wishful thinking. We will have to wait and see, but in
the mean time, traders will be jockeying for position to profit. The Fed
will end a two day meeting later today, and will issue their closely watched
statement that could affect traders decisions.
(LGMI) According to the China Iron and Steel Association, China’s inventory
of the main finished steel products plate, hot rolled coil, cold rolled coil,
rebar and wire rod in major steel markets totaled 14.796 million tonne, up
450,000 tonne compared to the previous week and constituting the sixth
consecutive WoW increase.
AK Steel Reports Fourth Quarter and Full-Year 2012 Financial Results -
more
Western Areas forges improved nickel sale agreement with Jinchuan -
more
(Interfax) Nickel prices started climbing again this week after a flat period
since mid-December, with the gains likely to continue in the near-term,
fulfilling expectations of a price recovery in the first quarter (Q1) of
2013.
worldsteel launches 'Steel in your life' photo competition -
more
Writedowns Near $50 Billion as M&A Haunts Mine CEOs: Commodities
- The world’s biggest mining and steel companies have wiped about $50
billion off project valuations in the past year and the purge is poised to
continue this earnings season as managers reassess expensive takeovers. -
more
Vale Pledges
to Deliver Growth After Losing Title to Rio Tinto - Vale SA pledged to deliver
on its growth projects after losing to Rio Tinto Group the title of the
world’s second-largest mining company and failing to boost production
of the steelmaking ingredient. -
more
Norilsk
Nickel to join forces with Murmansk region authorities in environmental
protection - On this date OJSC MMC Norilsk Nickel (Norilsk Nickel or the
Company) has become one of the first signatories to the Murmansk Region Ecology
Declaration. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Tuesday, January 29
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.99/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01lb
higher, with other
London traded base metals trading sideways to slightly higher as well. Stockpiles
of nickel stored in LME licensed warehouses rose on Monday and now totals
just over the 149,800 tonne level. The central bank of India lowered its
interest rate today and cut its growth and inflation forecasts thru March.
Asian markets ended mostly higher, while banks are dragging European equity
markets lower. US futures are slightly lower at the moment. Nickel continues
to hug the $8/lb threshold, awaiting news from the Xstrata-Mine Mill negotiations
for some potential momentum.
BHP Billiton December 2012 Quarter Production Summary -
more
(SSY) The price of wire rod in China edged $2/t higher from last week to
$577/t, according to World Steel Dynamics. As a result the wire rod price
averaged $579/t in January, some $11/t above the December 2012 level. This
was also the highest monthly average since June 2012.
Universal Stainless Reports Fourth Quarter 2012 Results in Line With Company
Guidance -
more
2013 Xstrata Nickel Mine Mill Local 598/CAW Bargaining Updates -
more
Xstrata mum
on progress of contract negotiations - Xstrata Nickel officials weren't talking
Monday about the progress of contract talks with the union representing 860
of its production and maintenance workers. -
more
First Quantum
Says Zambia Nickel-Export Levy Threatens Mine - First Quantum Minerals Ltd.,
Zambia’s biggest copper producer, wants the government to waive a 10
percent levy on nickel-concentrate exports that the company said threatens
its newest mine. -
more
Sandvik profit,
orders lag in face of weak demand - Swedish machinery and tool maker Sandvik
posted fourth-quarter earnings below analysts' expectations on Tuesday and
said it had cut production further in the face of sluggish demand. -
more
Courtesy AISI
- In the week ending January 26, 2013, domestic raw steel production was
1,806,000 net tons while the capability utilization rate was 75.4 percent.
Production was 1,918,000 tons in the week ending January 26, 2012, while
the capability utilization then was 77.6 percent. The current week production
represents a 5.8 percent decrease from the same period in the previous year.
Production for the week ending January 26, 2013 is down 1.0 percent from
the previous week ending January 19, 2013 when production was 1,824,000 tons
and the rate of capability utilization was 76.1percent.
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Monday, January 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$7.88/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
higher, with most London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME approved warehouses finally fell on Friday and now total just over the
149,400 tonne level. Nickel is getting a slight boost this morning as
negotiations in Canada near their Thursday deadline. The sad part of this
situation is the industry could actually use a strike to cut off some supply.
This puts the mining companies in a better bargaining position, which has
not necessarily been the case during the last few contract talks. Xstrata
and Mine Mill have a fairly good record of working together so the news we
see in the press from now until the negotiations have concluded is basically
rooster strutting and means very little. Equity markets are trading sideways
but remain stronger for the year as traders start the year with the same
optimism they did in 2012. Metals appear to be waiting for the Chinese Lunar
New Year to conclude to take long risks.
Resources sector works through Qld's wet weather -
more
Xstrata,
Mine Mill brace for possible job action - It's the yin-yang of contract
negotiations. As bargaining committee members for Mine Mill Local 598/CAW
and Xstrata Nickel met Friday to forge a new collective agreement, preparations
were going on -- on both sides -- should those talks fail. -
more
Xstrata may use replacement workers: union - Xstrata Nickel may use replacement
workers and house them on its smelter property, Mine Mill/CAW Local 598 says
in a letter to the people of Falconbridge. -
more
Russia's
Norilsk asks Kremlin to cancel metals export tax - Russia's Norilsk Nickel
has petitioned the Kremlin for a tax break worth around $500 million per
year that, if granted, would help the world's top nickel and palladium miner
pay dividends to its oligarch owners. -
more
Xstrata's
Outlook Of Ferrochrome Market During The First Half 2013 = Estimated output
loss of 350 - 400K tons of charge chrome during the Q1-2013 due to ESKOM's
power buyback = Mr. Jeff McLaughlan, Marketing Director of Xstrata Alloys,
Mr. Sean Edwards, General Manager, Marketing of Xstrata Alloys and Mr. Cassian
Battistini from Glencore, a sole marketing agent for Xstrata gave an interview
to our pressman (Mr. Saito) on the 16th of January at the Imperial Hotel,
Tokyo -
more
Outokumpu
proposes former Nokia leader as chairman - Finnish stainless steel firm Outokumpu
proposed appointing Jorma Ollila, the former leader of Nokia, as its new
board chairman. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Friday, January 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.89/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.03/lb
lower. with other
London traded base metals trading mixed and mostly sideways. Stockpiles of
nickel gained for a sixth consecutive session and rolled over the 150,000
tonne level. They now total just over the 150,200 tonne level. Cancelled
warrants grew to the 15% threshold on Wednesday and remained there on Thursday.
Metals are floundering on the LME even as the Euro trades near a year high.
Hard to say why traders are taking profits, but gains have been hard to come
by lately, so traders may be running a little gun shy and taking what they
can, while they can. With nickel stockpiles rolling over the psychological
important 150,000 tonne level yesterday, nickel is suffering from over supply
concerns. Don't count nickel out yet. We have yet to see traders start betting
on China demand rebounding after the Chinese New Year, which takes place
in mid-February. Have a safe and relaxing weekend.
(SBB) China's import of nickel ore and concentrate totaled 7.51 million metric
tons in December, up 71.8% year-on-year and 10% month-on-month
(FAN) Baosteel publishes February 2013 purchase price for HC ferrochrome,
which is 7800RMB/T, 50% basis (by cash, with tax and freight), increasing
400 RMB/T, 50% basis over last month.
(SSY) An update to its World Economic Outlook, the International Monetary
Fund has trimmed its global GDP growth forecasts for 2013 and 2014 by 0.1
percentage points for each year from the previous projection in October to
3.5% and 4.1% respectively. The IMF has seen a large downside risk to the
global outlook in the eurozone, where GDP is now expected to contract by
0.2% this year before growing by 1.0% in 2014.
Anglo
American Says Iron-Ore, Platinum Output Falls on Strikes - Anglo American
Plc, a mining company with operations from Australia to Brazil, said
fourth-quarter iron-ore and platinum output declined because of strikes in
South Africa, while coal and copper production rose. -
more
IFL
to shut one furnace to aid S.Africa's Eskom - Ferrochrome producer International
Ferro Metals said on Thursday it would shut one of its furnaces between Feb.
1 and March 31 to help South African power utility Eskom manage a tight
electricity supply. -
more
Ramu mine
good for 40 years - The US$1.5 billion (K3.13 billion) Ramu nickel and cobalt
project is designed to operate for 20 years and has the potential to extend
mine life to 40 years. -
more
Outokumpu
and Outotec enter into a legal dispute over invention rights - Outokumpu
Oyj and Outotec Oyj have entered into a legal dispute over invention rights
related to a ferrochrome production method. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Thursday, January 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$7.96/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.04/lb
lower, with all London
traded base metals trading lower at the moment. Stockpiles of nickel stored
in LME approved warehouses rose for the fifth consecutive session and now
totals just over the 149,700 tonne level. Nickel continues to trade in a
sideways range, seemingly unable to break thru the $8/lb level. World economic
news out today has so far been positive, but this momentum has yet to carry
into equity or commodity markets. US markets may give metals a direction,
but so far, futures for the Dow show little change.
Trading strategies for gold, natural gas, nickel by experts -
more
(FAN) Stainless scrap market players are eyeing potential price declines
moving into February as processor buying prices logged mixed results this
week.
Eurozone flash Jan Mfg PMI rises to 47.5
(CD) The preliminary HSBC China Manufacturing Purchasing Managers Index rose
to 51.9 in January from the final reading of 51.5 in December.
Japan Hot-Rolled
SUS Production Recedes - November 2012 = 214,081 tons down 10.8% from October;
both Cr-alloyed group and Ni-alloyed group down = According to the data released
by Ministry of Economy, Trade and Industry on January 18, details of the
output of hot-rolled stainless steel during November 2012 were as per the
table attached hereto. -
more
Poseidon
Nickel: Andrew Forrest and David Singleton forging a “New Nickel
Force” in Australia - Andrew Forrest built a “new force in iron
ore” with Fortescue Metals, and now with David Singleton (CEO and MD
of Poseidon Nickel) has combined to forge a “New Nickel Force”
in Australia. -
more
Japan’s
Metal Smelters See 12 Billion Yen Cost Rise on Power - Base-metal producers
in Japan, the world’s third-largest economy, will face a 12 billion
yen ($135 million) cost gain if power companies follow a rate increase by
Tokyo Electric Power Co. (5411), according to an industry group. -
more
Strong
currency and low prices pressure BHP - BHP Billiton, the world’s biggest
mining company, on Wednesday said the strong Australian dollar and weak prices
were hurting its local alumina and nickel operations, spurring speculation
of possible write-downs or asset sales. -
more
Worker Allegedly
Stole $138,000 of Nickel From Kirwan Heights Factory - An Elizabeth man is
accused by investigators of stealing more than $138,000 worth of nickel while
working at a Kirwan Heights industrial complex. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Wednesday, January 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$7.88/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME approved warehouses rose on Tuesday and now total just over the 149,150
tonnes. Stockpiles are now less than 1000 tonnes from the 150,000 level;
a level last seen on April 19th, 2010. Commodities are trading higher
on economic optimism and trying to break out of a trading pattern to the
upside. We will see how successful they are.
(FAN) China's ferro-chrome import volumes, up 15% on the month in December,
are likely to post a further increase in January amid tight domestic
availability, market participants said.
(FAN) Aperam, one of the major stainless steel producers in Europe said that
it will raise spot base prices for all its stainless steel products by EUR
50 per tonne in Europe.
(SSY) Although declining slightly from November, global steel output in December
registered an annual increase of 2.4% to 121.3 Mt, according to the World
Steel Association. As a result world steel production in 2012 rose 1.2% on
the 2011 total.
(Interfax) Industry bellwether Baosteel announced March prices earlier than
usual on Tuesday, raising most flats to reflect an optimistic outlook for
end-user demand during the spring peak season and high raw materials prices.
BHP Says
Alumina, Nickel Units Pressured, Spurring Sale Talk - BHP Billiton Ltd. (BHP),
the world’s biggest mining company, said the high Australian dollar
and weak prices are hurting its local alumina and nickel operations, spurring
speculation of possible writedowns or asset sales. -
more
Tata Steel
halts Sukinda mine operation - Tata Steel has halted chromite mine operation
at Sukinda as its lease validity expired earlier this month. -
more
Potanin Becomes
Norilsk General Director As Part of Management Deal - The appointment was
part of a settlement of a long-running shareholder dispute over control of
the company. -
more
UN
to mull studies of Xstrata’s Dominican Republic mine - A team of UN
experts will assess the feasibility studies of the Loma Miranda mining project
in the multinational Xstrata Nickel, whose exploration phase was halted by
a Dominican Republic court on a challenge by environmentalists. -
more
Western
Areas Frustrated By Nickel Price - Nickel miner Western Areas ((WSA)) hit
all the right notes with the broking community after its solid December quarter
production results and evidence of being well managed. However, the nickel
price is out of the company's control and on that hangs the tale. -
more
Into
deep space: second U.S. firm takes aim at mining asteroids - A team of
entrepreneurs and engineers unveiled plans on Tuesday for a space mining
company that would tap nearby asteroids for raw materials to fuel satellites
and manufacture components in orbit. -
more
Courtesy AISI
- In the week ending January 19, 2013, domestic raw steel production was
1,824,000 net tons while the capability utilization rate was 76.1 percent.
Production was 1,918,000 tons in the week ending January 19, 2012, while
the capability utilization then was 77.6 percent. The current week production
represents a 4.9 percent decrease from the same period in the previous year.
Production for the week ending January 19, 2013 is up 0.3 percent from the
previous week ending January 12, 2013 when production was 1,819,000 tons
and the rate of capability utilization was 75.9percent.
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Tuesday, January 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.88/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with most other
London traded base metals trading higher as well.Stockpiles of nickel stored
in LME approved warehouses rose on Monday and now total just over the 148,125
tonne level. Markets are trading higher this morning after a gauge of German
economic sentiment (the ZEW) registered an unexpected jump this month and
hit a two year high. US futures are mostly flat as markets re-open after
the MLK holiday. The ILO warned deep austerity measures some European countries
have been forced to take is slowing the recovery, and the global jobless
total will hit a record 202 million this year. Borrowing costs increase for
the UK, bringing that country's Triple A rating in question.
(Interfax) Eastern China’s major construction steel producers have frozen
or reduced rebar prices for the remainder of January, indicating a more cautious
outlook after spot rebar and iron ore prices entered a corrective dip.
Iron Ore’s ‘Unsustainable’ Rally Seen Ending as Supply Gains
-
more
Slovakia still in talks with U.S. Steel over mill -
more
24K pounds of nickel stolen from N. Ind. business
- more
Japan's SUS
Scrap Prices Up For January Deliveries = Yen125,000/ton, up from December,
stimulated by aggressive buys from Korea without domestic demand recovery
= The price in Japan for nickel-alloyed stainless steel scraps (new clippings)
rose to Yen125,000/ton, delivered to mills' yard, from Yen120,000/ton, the
latest price quoted by the mills for December deliveries. -
more
Murrin
Murrin finally overdelivers - Minara Resources boss Peter Johnston says he
has finally laid the ghosts of the company's troubled past to bed, nearly
14 years after the first nickel was produced at its Murrin Murrin mine. -
more
Mirabela
aims to lift production in 2013 - Troubled miner Mirabela Nickel hopes to
increase production to between 22,000 and 24,000 tonnes of nickel in concentrate
in 2013. -
more
China says
top 10 steel mills to control 60 percent of capacity by 2015 - China, the
world's largest steel producer, aims to bring around 60 percent of total
steel capacity under the control of its top 10 steel mills by 2015 as part
of a wide-ranging plan to restructure its industries. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Monday, January 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$8.04/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses rose on Friday and now totals just over
148,000 tonnes. European markets are trading slightly higher, following US
markets on Friday that moved higher on news that the Republican led House
of Representatives will authorize a 3 month increase in the US debt ceiling.
US markets are closed today for Martin Luther King;'s Birthday, and the
Presidential inauguration ceremonies will be held today. Commodity markets
should remain quiet for the day.
(SSY) Crude steel output in China in December was almost unchanged from the
previous month, at 57.7 Mt, according to the National Bureau of Statistics.
This marks a gain of 7.7% year-on-year and takes the annual output for 2012
to 716.5 Mt, representing growth of 3.1% on the previous year and hitting
a new annual production record.
Top commodity
managers tip metals for Q1 on Chinese recovery - Commodity fund managers
who performed well over the testing final quarter of 2012 believe metals
commodities prices could do better than expected in early 2013 due to a
combination of Chinese restocking and continued supply disruption. -
more
Tribes petition
against nickel mining - Land owning tribes in south-eastern parts of Choiseul
have lodged a petition to the ministry of mines and energy opposing the proposed
nickel mining operation by Sumitomo mining group. -
more
Norilsk Nickel
withdraws lawsuit against subsoil watchdog - The Moscow Commercial Court
has accepted the withdrawal of Norilsk Nickel's lawsuit to invalidate the
actions of the Federal Agency for Subsoil Use and its commissions granting
licenses to develop federal-level deposits, the court told the Russian Legal
Information Agency on Monday. -
more
Chinese steel
production in 2012 up by 3.1% - Bloomberg reported that China, which produces
almost half the world’s steel boosted production by 3.1% last year as
economic expansion spurred demand for roads and railways. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Friday, January 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.96/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME approved warehouses rose on Thursday and now totals just over the 147,800
tonne level. Base metals are following equity markets higher this morning
after China reports that while its growth was at a 13 year low, the pace
picked up in the fourth quarter, signaling a potential bottom. this followed
a very positive housing report yesterday from the US, so optimism is ruling
markets as the week ends. Our China Stainless Steel Index continues to slide,
but some of this could be caused by buyers holding off until the Chinese
New Year break in mid February. Nickel is nearing a weak resistance at $8.05/lb
with a stronger line of resistance at $8.55/lb. Have a safe and relaxing
weekend.
Japan Low-Carbon
FeCr Prices For Q1-2013 Drop = US$1.93 - 1.97/lb Cr, down from US$2.02 -
2.05/lb Cr in the preceding quarter =
more
Nickel
Output Exceeded Demand in November, Study Group Says - Refined nickel production
increased to 153,100 metric tons in November, exceeding demand of 142,600
tons, the International Nickel Study Group said. -
more
Thyssen
chairman admits to mistakes but won't quit - ThyssenKrupp AG Chairman Gerhard
Cromme admitted on Friday to making mistakes that contributed to massive
losses at the German steelmaker, but didn't bow to pressure from some
shareholders to step down. -
more
worldsteel
launches 'The white book of steel' & 'The Steel Story' - The white book
of steel is an informative and entertaining look at steel’s enormous
impact on the history of mankind, and the role that it is set to play in
helping to shape the future of humanity. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Thursday, January 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$7.83/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
higher, with most London
traded base metals trading slightly higher as well. Stockpiles of nickel
stored in LME approved warehouses fell on Wednesday and now totals just over
the 147,200 tonne level. Base metals are getting a positive boost this morning
as the Euro bounces against the US Dollar. Asian markets ended lower, European
equity markets are on the upswing, and US futures are slightly higher. Nickel
has closed at $7.83/lb for the first three days of this week.
(Interfax) China’s crude steel output could rise as much as three percent
this year as a result of growing demand from infrastructure and real estate
construction, UBS Securities forecast on January 15.
(MB) Brazilian nickel exports fell 14.6% year-on-year in 2012
(SSY) The latest SteelBenchmarker published by World Steel Dynamics shows
gains for hot rolled band steel prices outside the US in early-January. For
example, Chinese HRB steel prices rose $20/t from three weeks ago to a 6-month
high of $545/t, while EU HRB prices rose $10/t to $638/t over the same period,
the highest level since mid-June 2012. As a result, world steel export prices
increased by $10/t from end-December to $563/t, but are still down by $66/t
from the year-ago level. By contrast, HRB prices in the US slipped by a further
$13/t to $689/t.
Rio Tinto turns to iron ore boss to restore fortunes -
more
Rio Tinto CEO pays price of calamitous acquisitions -
more
Transparency urged for Chinese mining companies -
more
(MOM) World Bank expects Nickel prices to increase almost 3 percent in 2013,
and following a slightly upward trend thereafter. 'Although there are no
physical constraints in these metal markets, there are a number of factors
that could push prices even higher over the forecast period, including declining
ore grades, environmental issues, and rising energy costs.' World Bank said
in its metals forecast.
(CFI) Both U.S. fastener imports and exports declined in November. Imports
of U.S. fasteners in November dropped 11% to $353,681,686, while exports
of U.S. fasteners in November dropped 5% to $279,726,102.
Meps:
World stainless steel market roundup - Meps International (Ltd) forecasts
rising world stainless steel prices in January 2013 on the back of recent
increases in raw material costs. -
more
Talvivaara
Falls as Excess Water ‘Challenging’: Helsinki Mover - Talvivaara
Mining Co., a Finnish nickel miner, slid the most in two months in Helsinki
trading after it said efforts to resume ore production, halted since September
by excess water, were still proving “challenging.” -
more
Big
newcomers force metal warehousers to adapt or quit - Old-style warehouse
firms are coming to accept that big traders and banks, muscling in on storage
of metals like aluminium, may have changed it forever into a financial business
from a service to manufacturers. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Wednesday, January 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$7.83/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.08/lb
lower, with all London
traded base metals trading lower as well. Stockpiles of nickel stored in
LME approved warehouses rose on Tuesday and now total just shy of the 147,350
tonne level. WBMS is reporting today that they show the global nickel market
was in a 93,000 tonne surplus for the first eleven months of 2012. The World
Bank cuts its forecast for global growth and Asian markets closed lower,
and European markets are trading lower as well. Luxembourg Prime Minister
Jean-Claude Juncker reportedly warned the Euro was trading 'dangerously high',
which has put pressure on Euro trading today, and commodities as well.
(TR) Turkey's exports of chrome ore during the full year of 2012 were 2,133,882
tons, down 1.7% from 2,171,673 tons exported during 2011.
(TN) The German economy, Europe’s biggest, shrank by about 0.5% in the
fourth quarter of last year, leaving full-year growth at just 0.7%, official
data showed yesterday.
Consumers Reports Index: Middle-Income Americans Remain Cautious Spenders,
While Facing Lackluster Employment Outlook -
more
(CD) Foreign direct investment in China in 2012 declined 3.7 percent year-on-year
to $111.72 billion, the Ministry of Commerce said.
Nickel pig iron output to rise 25% as costs decline - China's nickel pig
iron output in 2013 may rise 25 percent more than previously forecast as
costs decline, curbing nickel imports, Japan's top producer of the metal
said. -
more
Norilsk Names
Evgeny Yakovlev as First Deputy General Director - Russia's Norilsk Nickel,
the world's largest producer of nickel and palladium, said Tuesday that former
executive Evgeny Yakovlev has been named the company's new first deputy general
director. -
more
Zimbabwe:
BNC Resumes Milling Operations - Bindura Nickel Corporation will restart
milling operations early next month, paving the way for concentrate exports,
chief operating officer Mr Batirai Manhando has said. -
more
Choiseul
landowners snub mining - Land owners in the proposed nickel mining areas
in the southeastern part of Choiseul have lodged a petition letter to the
National Government’s Ministry of Mines and Energy for the Sumitomo
mining group not to proceed with any mining operations. -
more
Talvivaara
eyes H1 production suspension, worker lay-offs - Talvivaara said it
may temporarily lay-off up to 230 workers for up to three months after a
gypsum pond leakage caused a production disruption that may last until end-June
2013. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Tuesday, January 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.83/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded based trade metals mostly lower. Stockpiles of nickel stored
in LME approved warehouses showed no change on Monday and totals remain just
over the 147,050 tonne level. Commerzbank is reporting that 'Sumitomo Metal
Mining Co., Japan’s largest nickel producer, expects the supply surplus
on the global nickel market to climb to 58 thousand tons this year, its highest
level for five years.'
EU steel demand crashes in 2012 but small gain forecast for 2013 -
more
(Kotak) According to the latest monthly bulletin from Lisbon-based International
Nickel Study Group (INSG), the global nickel market was in surplus by 55,600
tons in the first ten months of 2012.
Red Kite’s Jansen Favors Tin as ‘Super-Cycle’ Continues -
more
HKEx to
launch Asian trading on London Metal Exchange - Hong Kong Exchanges and Clearing
said on Tuesday it will introduce Asian time-zone price discovery and clearing
on the London Metal Exchange (LME), in a move that could hold off competition
from its Shanghai rival. -
more
China Ferroalloy
Production By Division - November 2012 = Up 4.5% from October; output in
Hunan, Guangxi, Guizhou and Ningxia all increased = Ferroalloy production
details by division (province, region and municipality) in China in the single
month of November 2012 as well as during the first eleven months (January
through November) of 2012 were as per the table attached hereto. -
more
Zambia: 2,000
FQM Jobs in Offing in Solwezi - More than 2,000 Zambians are expected to
be employed at the First Quantum Minerals (FQM)'s Sentinel Mine in Solwezi
in North-Western Province when it is fully operational. -
more
Courtesy AISI
- In the week ending January 12, 2013, domestic raw steel production was
1,819,000 net tons while the capability utilization rate was 75.9 percent.
Production was 1,918,000 tons in the week ending January 12 , 2012, while
the capability utilization then was 77.6 percent. The current week production
represents a 5.2 percent decrease from the same period in the previous year.
Production for the week ending January 12, 2013 is up 3.6 percent from the
previous week ending January 5, 2012 when production was 1,756,000 tons and
the rate of capability utilization was 72.6 percent.
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Monday, January 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$7.97/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading quietly higher. Stockpiles of nickel stored
in LME licensed warehouses rose sharply on Friday and now total just shy
of the 144,250 tonne level. China markets surged overnight after it was reported
their stock market will be opened to foreigners. European markets and US
stock futures are quiet with little market news to give either direction.
(Dow Jones) Russia exported 2.5 times as much copper in the first eight months
of the year as during the same period last year, responding to the surge
in global demand. Nickel exports also soared.
(Interfax) The China Association of Automotive Manufacturers (CAAM) expects
growth in China’s vehicles sales to speed up in 2013, which will give
much-needed support to the upstream steel sector.
(Dow Jones) U.S. nickel imports fell 4.6% in November from last month, and
was down 14.1% from the previous year, the Commerce Department reported Friday.
(Dow Jones) U.S. nickel exports rose 7.3% in November from the previous month,
and was up 11.4% from the previous year, the Commerce Department reported
Friday.
First Quantum Mine to create more than 2,000 mining jobs -
more
Shrewd forecasters win in a volatile commodities world -
more
Russian fastener standards harmonized with ISO -
more
Tata
Steel KZN shuts furnaces to aid S.Africa's Eskom: sources - Tata Steel KZN,
a subsidiary of the Indian steel maker, has shut two ferrochrome furnaces
in South Africa for two months to help power utility Eskom manage a tight
electricity supply, industry sources said on Friday. -
more
Zimbabwe:
Govt to Lift Ban On Chrome Ore Exports - The Zimbabwean government is expected
to lift the ban on chrome ore exports in April, exactly a year after it was
reinstated following protracted negotiations with industry stakeholders,
the Zimbabwe Independent can reveal. -
more
First Quantum
plans $275 mln investment in Zambia nickel mine - Canadian mining firm First
Quantum Minerals plans to invest $275 million in a new nickel mine in Zambia,
a company official said on Saturday.
- more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Friday, January 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$7.89/lb. Indicators
at 7:00 am CST today show 3 month nickel trading unchanged
, with other London
traded base metals trading mixed and sideways. Stockpiles of nickel stored
in LME approved warehouses fell slightly on Thursday, and now total just
shy of the 144,250 tonnes. Commodities are seeing little movement this morning
after worrying inflationary data was released from China. Our observation
that we may have seen the bottom in China stainless steel prices was incorrect,
as our daily index is now at its lowest level since we started our index
in May 2009. Nickel trading remains subdued and stockpiles continue their
upward trend.
Copper, tin
likely beneficiaries in 2013 from improved demand: Macquarie - Copper and
tin are likely to be the biggest near-term beneficiaries of improved apparent
demand through the first half of 2013, with supply availability still limited,
Macquarie said in a research note Friday. -
more
Industries
Want Nickel Exports to Begin - The Indonesian Nickel Association (ANI) has
asked the government to start export activities for 14 main mining minerals,
including nickel. -
more
The
debate about the true invention of stainless steel will rage forever but
ISSF has a nice video about the first 100 years of stainless steel.
and the Science Channel has a video on how stainless steel is made
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Thursday, January 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$7.96/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with all London
traded base metals trading higher. Stockpiles of nickel rose on Wednesday
and now total just shy of the 144,350 tonne level. China reported its exports
surged in December which is giving world markets a boost this morning, including
commodities. The European debt crisis has taken a back seat to the US' problems
lately, but central bank meetings on that continent today will be watched
closely. Nickel is higher for a second day but continues to hover around
the $8/lb range. Some analysts believe we will likely see little movement
until possibly after the Chinese New Year holiday in mid February.
(MF) Nippon Steel & Sumikin Stainless (NSSC), the largest stainless steel
producer in Japan announced to raise its list prices for austenitic cold
rolled coils (CRC) by 25,000/ton for January contracts.
(CEN) China remained the world's largest energy producer for a fifth year
in 2012, China's energy authority said Wednesday. The National Energy
Administration (NEA) said in a statement on its website that the country's
total installed power generation capacity reached 1.14 billion kilowatts
(kw) by the end of 2012. Installed hydropower capacity stood at 249 million
kw, the world's greatest. The country's wind power also led the world with
an installed capacity of 63 million kw by the end of last year, the statement
said.
China copper imports down in Dec, up 14.1 pct in 2012 -
more
Nickel
miner ships record volume in 2012 - The Philippines' largest nickel miner
shipped 11.7 million wet metric tons (WMT) of nickel ore in 2012, the company
disclosed to the Philippine Stock Exchange. -
more
Russia's
stainless steel exports in November 2012 - According to an estimate by SpetsStal
Association, the volume of Russian stainless steel exports in November 2012,
compared to the previous month, increased 0.9% to 880 tons. -
more
Aperam fire
to benefit other EU stainless steel makers - A fire affecting output at a
French Aperam stainless steel plant will benefit Outokumpu and other European
producers and will put upward pressure on European prices in the next few
months, market players said this week. -
more
Palmer
rejects green groups' claims - Mining magnate Clive Palmer has rejected claims
that tailing ponds at his north Queensland nickel refinery will burst during
the upcoming wet season. -
more
NL: Applications
flood in to Vale for long-term jobs - There are an estimated 500 long-term
jobs for the operation of the Long Harbour plant and about 350 people are
expected to be hired by the end of the year. -
more
Australian
cyclone shuts Rio Tinto ports, crude output - Australia's first cyclone of
the storm season is intensifying off the country's northwest, shutting key
iron ore export terminals and crude production at offshore oilfields in mining
powerhouse Western Australia state. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Wednesday, January 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$7.86/lb. Indicators at
7:00 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 stored
in LME approved warehouses fell slightly on Tuesday and now total just over
the 143,400 tonne level. Commodity markets and equity markets are getting
a boost from Alcoa's positive earnings report last evening. Increasing
inventories should keep price increases in check.
(GFN) Asian Mineral Resources Ltd. (AMR), a Canada based company engaged
in the exploration and development of mineral property interests, has secured
approval from Ministry of Industry and Trade of the Socialist Republic of
Vietnam, to export minerals and mineral products from Vietnam. Under the
circular issued by Vietnamese Ministry, AMR s subsidiary Ban Phuc Nickel
Mines LLC can export 9.5% nickel concentrate, without time limit. Before
this approval, BPNM had a licence to export nickel concentrate till 31 December
2015. The new Circular replaces the previous export licence.
(FAN) According to statistics, the stocks of stainless steel products totaled
188,489 tons in the Chinese Wuxi market in the last 10 days of December,
falling by 1.86% from the previous 10 days.
Nickel contract trading volumes on the London Metal Exchange increased by
38.6% in 2012.
Iron Ore Seen Set for Bear Market as Restocking Rally Fades -
more
Iron ore may reach $170/dmt China 'over next quarter': Deutsche Bank -
more
(China) More than half of firms see profits drop in 2012 -
more
Odisha chrome
ore prices fall 12% in auction - But stainless steel makers unlikely to pass
on the advantage, citing rising cost of production -
more
China Nickel
Imports/Exports - November 2012 = Unwrought nickel exports up/imports down;
ore/concentrates imports hit the highest monthly record = According to China's
Customs Statistics, imports and exports of nickel-bearing materials including
ore/concentrates during November 2012 as well as during the first eleven
months of 2012 were as per the attached table hereto (all the figures in
the table are the weight of the material). -
more
Japan's Outlook
Of Crude Steel Demand For Next Qtr. To Be 26,070,000 Tons = It will increase
by 0.2% from the previous quarter - The Ministry of Economy, Trade and Industry
of Japan released on 27th the forecast of demand for steel in the 4th quarter
(January - March) of fiscal 2012. -
more
Anglo
American Hires Cutifani as CEO After Losing $14 Billion - Anglo American
Plc appointed Mark Cutifani as chief executive officer as the mining company
seeks to reverse the $14 billion loss of market value it suffered in the
five years his predecessor Cynthia Carroll was in charge. -
more
Palmer
Qld refinery at tipping point: WWF - Conservationists are concerned tailing
ponds at a north Queensland nickel refinery owned by mining magnate Clive
Palmer will burst during the upcoming wet season. -
more
Courtesy AISI
- In the week ending January 5, 2013, domestic raw steel production was 1,756,000
net tons while the capability utilization rate was 72.6 percent. Production
was 1,902,000 tons in the week ending January 5, 2012, while the capability
utilization then was 76.9 percent. The current week production represents
a 7.7 percent decrease from the same period in the previous year. Production
for the week ending January 5, 2013 is down 3.9 percent from the previous
week ending December 29, 2012 when production was 1,827,000 tons and the
rate of capability utilization was 73.9 percent.
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Tuesday, January 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.80/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses rose sharply and now totals just shy of
the 143,500 tonne level. Bloomberg has nickel's relative strength index at
49 today. LME warehouses have registered increases for 3 of the 4 operating
days this year. Commodity markets are looking for direction today and
the Euro/US Dollar exchange is not giving any signals. Our China SS Index
has risen for a second session and we may have bounced off another low point.
So far, China's reaction to the 20% duty that India has slapped on stainless
steel imports from that country has been muted.
(CD) The Indonesian government has decided to extend export licenses ore.
Additional time will be between three months and one year, depending on the
types of contracts and minerals concerned.
(CD) The Colombian government and Cerro Matoso SA signed a new contract for
the operation of the nickel mine Cerro Matoso. The operator is 100% owned
by BHP Billiton of Australia. The mine is located near Cordoba in northern
Colombia.
Copper, Crude Oil Vulnerable as Optimism Dissipates -
more
Iron-Ore Swaps Reach 14-Month High as China Seen Restocking -
more
Aussie mining magnate accused of dividing indigenous communities -
more
China’s Metal Fastener Output for Jan.-Nov. -
more
January Report: Small-Business Owner Confidence Edges Up, Barely One of the
lowest optimism readings in survey history -
more
Import duty
won't impact pricing much: Jindal Stainless - The government has imposed
20 per cent safeguard duty on imports of a certain variety of stainless steel
from China to protect domestic players. -
more
LME volumes
up 9% in 2012, primary aluminium turnover edges lower - Traded volumes of
futures and options on the London Metal Exchange rose 9% in 2012 as a 10.6%
rise in futures turnover offset a 19.1% drop in options. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Monday, January 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$7.86/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel rose
on Friday and now total just shy of the 142,250 tonne level. The more politicians
spoke on Sunday morning television talk shows, the more it became apparent
the recent tax deal in Washington was probably the high water mark in political
party cooperation. Lines were drawn in the sand and nervousness crept back
into world markets. Markets have been limited in their ability to find a
direction over many months now due to this uncertainty. And this looks to
continue. Nickel inventories have risen by 3% in the last 30 days, and cancelled
warrants remain below the 10% level.
Bulls Add to Wagers for First Time Since November: Commodities -
more
Hedge funds' commodity bets see little change in value over year -
more
India Imposes 20% Import Tax on Chinese Hot-Rolled Flat Steel -
more
China Cr Ore
Imports Sharply Drop - November 2012 = Down 4.8% from October to 651,309
tons = According to China's customs statistics, details of the imports of
chrome ore in November 2012 as well as during the eleven months (January
- November) of 2012 were as per the table attached hereto. -
more
Prices Of
CR Austenitic Stainless Sheets To Be Fixed At $2,700 CFR In Asia - Prices
of cold-rolled (CR) austenitic stainless steel sheets in the Asian region
seem mainly to be the level of $2,700 CFR. Korea's POSCO, Taiwan's YUSCO
and so on had proceeded with negotiations before at $2,600 CFR for December
shipment but such price level disappeared at present, and negotiations at
the higher price level than that by $100 have been made. -
more
“Misunderstood” Nickel Could Rally in 2013 - With the price
of nickel down around 7 percent and year-end stocks in LME warehouses at
their highest levels since May, investors in the base metal were hard-pressed
to find good news in 2012. -
more
Minmetals
may diversify into nickel: report - Minmetals Resources chief Andrew Michelmore
says that after spending last year focusing on the integration of Congo copper
player Anvil, the miner is now in the position to consider another major
$1 billion-plus base metals purchase, according to a report by The Australian.
-
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Friday, January 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$7.94/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel fell
slightly on Thursday and now total just under the 141,675 level. We get the
jobs report for Dec 2012 in the US today and that is expected to give the
market some direction. Base metals fell sharply late yesterday after notes
from the last US Federal Reserve meeting showed a disagreement over future
bond buying efforts. The notes also revealed that the Fed is running out
of bullets to keep boosting the US economy. This news helped boost the US
Dollar, and hurt commodity trading. Many Asian markets that have yet to re-open
from the holiday season, will reopen Monday so we should see market news
pick up.
(FAN) According to statistics released by the customs, China's exports of
stainless steel flat products totaled 156,839 tonnes in November, rising
by 31% YoY and increasing by 33% MoM In November,
One Missing, Another Dead After Cyclone Hits New Caledonia -
more
Are you a base metal growth bull or a gold gloom-and-doomer? -
more
Production
slump for First Nickel - First Nickel Inc. said Thursday production from
the Lockerby Mine in Sudbury, Ont., is expected to fall short of earlier
expectations. -
more
Kent Stainless
Win Manufacturing Exporter of the Year and Exporter of the Year 2012 - Members
of the Kent team were over the moon last night as MD, Ann O’Brien gratefully
picked up 2 of these prestigious awards. -
more
Experts forecast
strong Q1 for steelmakers - High prices and strong demands are expected to
contribute to a strong first quarter for Taiwan's steel industry, experts
said yesterday. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Thursday, January 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$8.03/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with all London
traded base metals trading lower this morning. Stockpiles of nickel stored
in LME approved warehouses rose sharply on Wednesday and now total just shy
of the 141,700 tonne level. Yesterday's euphoric relief rally is taking a
break today, as traders look to a new U.S. Congress facing the same old problems.
As the most unproductive Congress in history, we say good riddance to the
last one. Metals news remains light.
ENSO-neutral conditions persist in the tropical Pacific -
more
China's Steel
Sector Pain is Construction industry's Gain - MEPS - 2012 has been a difficult
year for the Chinese steel industry. Oversupply has plagued the sector –
resulting in significantly lower selling prices as the year progressed. -
more
Courtesy AISI
- In the week ending December 29, 2012, domestic raw steel production was
1,827,000 net tons while the capability utilization rate was 73.9 percent.
Production was 1,863,000 tons in the week ending December 29, 2011, while
the capability utilization then was 75.2 percent. The current week production
represents a 1.9 percent decrease from the same period in the previous year.
Production for the week ending December 29, 2012 is down 0.7 percent from
the previous week ending December 22, 2012 when production was 1,840,000
tons and the rate of capability utilization was 74.5 percent.
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Wednesday, January 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$7.97/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.21/lb
higher with all other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose on Monday and begin the year at 141,690 tonnes.
That is a net gain of 51,174 tonnes for 2012. Markets are trading higher
today, on news that the US government passed another stop gap measure in
the 11th hour, to keep the US from slipping over the fiscal cliff. In reality
all that was accomplished was the lower taxes from 2012 were extended for
most tax payers, while none of the actual fiscal problems were addressed.
These battles have been put off for a few months, with further market uncertainty
- now a certainty. Nickel closed 2012 at $7.97/lb and ended the prior year
at $8.49/lb. Nickel is up today as part of today's larger commodity bullish
run, and has punched thru minor resistance of $8.06/lb.
Taiyuan Iron
and Steel plans 52% increase in exports - Taiyuan Iron and Steel Group Co
Ltd, the world's largest stainless steel producer by output, plans to increase
its product exports by about 52 percent to 500,000 metric tons next year.
-
more
Base Metals
Surge as Congressional Deal Boosts Demand Outlook - Copper and nickel led
a rally in base metals after the House of Representatives approved a bill
to avert tax gains for most U.S. workers, boosting the outlook for demand.
Lead gained to the highest level in more than 15 months in London and zinc
climbed to the most expensive since October. -
more
Western
Areas tips nickel sector M&A - Western Areas managing director Dan Lougher
says the Glencore-Xstrata merger could be the catalyst for a wave of acquisition
activity in the WA nickel sector this year, with the new global giant primed
to gobble up a number of local assets. -
more
Zimbabwe:
Zimalloys Eager to Reopen Mines - Ferrochrome producer Zimbabwe Alloys Limited
says it expects to secure investors soon for operations at its two mines
in Mutorashanga to resume and create employment for residents living in the
compounds. -
more
Morning Nickel
Inventory and 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 reports 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.
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 $.02/lb
Reports
Commodity/Economic Comments
Yesterday's bounce in relation to last 3 months of trades
Sumitomo
Metal, Vale Consider Building Nickel Plant in Indonesia - Sumitomo Metal
Mining Co., Japan’s top nickel producer, said it has joined PT Vale
Indonesia Tbk (INCO) on a pre-feasibility study for a nickel processing plant
in Indonesia. -
South
African ferrochrome output cuts expected to boost prices - Ferrochrome production
cuts in South Africa are likely to persist into the second quarter, boosting
prices at a time of weak demand, traders said. -
MSCI: Early Gains
Disappear as 2012 Shipments Match 2011 - Service center shipments of steel
and aluminum finished 2012 about the same as in 2011. With the exception
of a modest increase in aluminum shipments in Canada, the slowdown that
characterized the second half wiped out most gains earlier in the year. -
China Ferroalloy
Production By Division - December 2012 = Down 1.4% from November; yearly
production of 2012 up 15.0% from 2011 = Production of ferroalloys by division
(province, region and municipality) in China in the single month of December
2012 as well as during the calendar year of 2012 are as per the table attached
hereto. -
Morning Nickel
Inventory and Price Statistics & Figures
Vale Pledges
to Deliver Growth After Losing Title to Rio Tinto - Vale SA pledged to deliver
on its growth projects after losing to Rio Tinto Group the title of the
world’s second-largest mining company and failing to boost production
of the steelmaking ingredient. -
Norilsk
Nickel to join forces with Murmansk region authorities in environmental
protection - On this date OJSC MMC Norilsk Nickel (Norilsk Nickel or the
Company) has become one of the first signatories to the Murmansk Region Ecology
Declaration. -
Xstrata mum
on progress of contract negotiations - Xstrata Nickel officials weren't talking
Monday about the progress of contract talks with the union representing 860
of its production and maintenance workers. -
First Quantum
Says Zambia Nickel-Export Levy Threatens Mine - First Quantum Minerals Ltd.,
Zambia’s biggest copper producer, wants the government to waive a 10
percent levy on nickel-concentrate exports that the company said threatens
its newest mine. -
Sandvik profit,
orders lag in face of weak demand - Swedish machinery and tool maker Sandvik
posted fourth-quarter earnings below analysts' expectations on Tuesday and
said it had cut production further in the face of sluggish demand. -
Russia's
Norilsk asks Kremlin to cancel metals export tax - Russia's Norilsk Nickel
has petitioned the Kremlin for a tax break worth around $500 million per
year that, if granted, would help the world's top nickel and palladium miner
pay dividends to its oligarch owners. -
Outokumpu
proposes former Nokia leader as chairman - Finnish stainless steel firm Outokumpu
proposed appointing Jorma Ollila, the former leader of Nokia, as its new
board chairman. -
Ramu mine
good for 40 years - The US$1.5 billion (K3.13 billion) Ramu nickel and cobalt
project is designed to operate for 20 years and has the potential to extend
mine life to 40 years. -
Japan Hot-Rolled
SUS Production Recedes - November 2012 = 214,081 tons down 10.8% from October;
both Cr-alloyed group and Ni-alloyed group down = According to the data released
by Ministry of Economy, Trade and Industry on January 18, details of the
output of hot-rolled stainless steel during November 2012 were as per the
table attached hereto. -
Poseidon
Nickel: Andrew Forrest and David Singleton forging a “New Nickel
Force” in Australia - Andrew Forrest built a “new force in iron
ore” with Fortescue Metals, and now with David Singleton (CEO and MD
of Poseidon Nickel) has combined to forge a “New Nickel Force”
in Australia. -
Tata Steel
halts Sukinda mine operation - Tata Steel has halted chromite mine operation
at Sukinda as its lease validity expired earlier this month. -
UN
to mull studies of Xstrata’s Dominican Republic mine - A team of UN
experts will assess the feasibility studies of the Loma Miranda mining project
in the multinational Xstrata Nickel, whose exploration phase was halted by
a Dominican Republic court on a challenge by environmentalists. -
Top commodity
managers tip metals for Q1 on Chinese recovery - Commodity fund managers
who performed well over the testing final quarter of 2012 believe metals
commodities prices could do better than expected in early 2013 due to a
combination of Chinese restocking and continued supply disruption. -
Tribes petition
against nickel mining - Land owning tribes in south-eastern parts of Choiseul
have lodged a petition to the ministry of mines and energy opposing the proposed
nickel mining operation by Sumitomo mining group. -
Nickel
Output Exceeded Demand in November, Study Group Says - Refined nickel production
increased to 153,100 metric tons in November, exceeding demand of 142,600
tons, the International Nickel Study Group said. -
Thyssen
chairman admits to mistakes but won't quit - ThyssenKrupp AG Chairman Gerhard
Cromme admitted on Friday to making mistakes that contributed to massive
losses at the German steelmaker, but didn't bow to pressure from some
shareholders to step down. -
worldsteel
launches 'The white book of steel' & 'The Steel Story' - The white book
of steel is an informative and entertaining look at steel’s enormous
impact on the history of mankind, and the role that it is set to play in
helping to shape the future of humanity. -
Zimbabwe:
BNC Resumes Milling Operations - Bindura Nickel Corporation will restart
milling operations early next month, paving the way for concentrate exports,
chief operating officer Mr Batirai Manhando has said. -
Nickel
miner ships record volume in 2012 - The Philippines' largest nickel miner
shipped 11.7 million wet metric tons (WMT) of nickel ore in 2012, the company
disclosed to the Philippine Stock Exchange. -
Aperam fire
to benefit other EU stainless steel makers - A fire affecting output at a
French Aperam stainless steel plant will benefit Outokumpu and other European
producers and will put upward pressure on European prices in the next few
months, market players said this week. -
