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Friday, January 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.77/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London trade base metals trading slightly higher as well. Stockpiles of nickel
stored in LME approved warehouses rose to another record high on Thursday
and now total 426,240 tonnes. Since today is the last stock reporting
day by LME, they recorded a gain of 13,092 tonnes over the 21 reporting days
of January. This compares to a gain of 8,652 during the 21 reporting days
in December. Nickel remains rangebound, unable to punch thru minor resistance
earlier. China PMI numbers will be released this weekend and we will see
how the base metals react next week. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.70/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Daily crude steel production at China Iron and Steel Association (CISA)
member mills fell to 1.69 Mt in the period 11-20 January, down from 1.79
in the first 10 days of the month, according to data from the industry
association reported by SteelFirst. This is the lowest daily total since
mid-November when output was 1.64 Mt.
Metals poll shows even the losers can be winners: Andy Home - Copper emerges
as the apparent bear stand-out in the latest Reuters poll of base metals
analysts. -
more
Philippines' Global Ferronickel targets 11 pct rise in ore exports - Global
Ferronickel Holdings Inc , the Philippines' No. 3 nickel producer, said on
Friday it aims to increase ore exports this year by up to 11 percent to 7
million wet metric tonnes, mostly intended for Chinese customers. -
more
Norilsk
Nickel faces Arctic prices challenge - Russia’s financial crisis is
posing a stark challenge to the country’s largest mining company. -
more
The
Philippines Leads the World in Nickel Production - Since 2011, there has
been an unprecedented nickel mining production boom in the Philippines,
outgrowing traditionally large nickel producing countries such as Australia,
Indonesia and Russia. -
more
China steel
industry struggles - Although China's steelmakers saw a big rise in profits
last year, the industry still has overcapacity problems that have dragged
prices to record lows. -
more
The pros
and cons of China's irrational exuberance - Call it irrational exuberance
with Chinese characteristics. In August last year, a fascinating campaign
unfolded in the state-run media, prodding citizens to pile into stocks. -
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, January 29
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.78/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.08/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses returned to setting all time record highs on Wednesday
and started today's session at 425,562 tonnes. Not much news to report today.
The US Fed leaving potential interest rate hikes on the table for later this
year, has turned traders attention back to Europe, and the return of little
Greece to the headlines. Nickel remains rangebound.
Average price of cash nickel so far this month - $6.70/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MB) Yunnan Tiangao Nickel Company Limited announced to halt production by
the end of February due to high nickel ore purchasing price and poor
profitability.
Vale
plans multiyear investment - After a contract amendment in October last year,
PT Vale Indonesia is gearing up for business expansion with the nickel mining
company preparing multiyear capital expenditure amounting to US$4 billion.
-
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, January 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.70/lb. Indicators at
6:45 am CST today show 3 month nickel trading around $.11/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses fell slightly for a second day and now total just
over the 423,700 tonne level. Base metals are trading higher this morning,
with traders watching to see what the US Fed has to say, as it rounds up
a two day meeting. Few expecting any change in policy, with any move to increase
the interest rate to be muted by uncertain economic signals elsewhere in
the world. The analysts are starting to update their commodity forecasts,
with nickel futures still favorable, and deficits still being forecast. For
now, look to $7/lb to offer strong resistance.
Average price of cash nickel so far this month -
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Malcolm Freeman with Kingdom Futures - “The general feeling is
that a bottom has started to form in the market and, if it breaks through
the overhead resistance at $15,200, it will rally sharply. In addition to
this, nickel is now divorcing itself from moving hand-in-hand with all the
metals and reacting to its own fundamentals.”
Global Economic Outlook: 1st Quarter 2015 -
pdf here
Goldman Sees
Commodities as Worst Pick Before Year-End Rally - Commodities will lag behind
equities, bonds and credit markets over the next three months before a rebound
in oil sparks a recovery, according to Goldman Sachs Group Inc. -
more
Zinc and nickel
price upside 'imminent': Clarus - There has been a lot of bullish talk in
the metals community about zinc and nickel over the past couple of years,
as many insiders believe those commodities are poised for a rally. You can
include Clarus Securities analyst Mike Bandrowski in that group. -
more
China's December
nickel ore, conc imports fall 62% on year to 2.48 million mt - China's imports
of nickel ores and concentrates fell 61.7% year on year and 13.3% month on
month to 2.48 million mt in December, latest data from the General Administration
of Customs showed Tuesday, January 27. -
more
(Press Release)
For the month of February 2015, North American Stainless will reduce the
fuel surcharge to 23% for stainless flat and long products. The surcharge
rate is considered a maximum level for February and will be reviewed monthly.
Indonesia's
export of processed-mineral to rise - As many as 12 smelters to process or
smelt raw mining products are forecast to kick off operation or finish on
its construction this year, which is expected to increase the country's export
of processed minerals, an official said on Wednesday. -
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, January 27
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.69/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading mostly lower. Stockpiles of nickel stored
in LME approved warehouses fell slightly from record levels yesterday, and
now total just over the 424,100 tonne level. Nickel bounced yesterday, but
continues to trade within the $6.50/lb to $7.00/lb range. There is little
reason to believe that will change anytime soon, with China shutting down
for their week long New Year festivities in just a few weeks.
Average price of cash nickel so far this month - $6.70/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(EM) Reuters reports that Chinese bonded premiums for nickel are climbing
and are now up $10 to $85, the highest since June, a sign that stainless
steel makers may be stocking up
(SMM) Jinchuan Group Raises nickel prices 2,300 yuan to 107,000 yuan on Jan.
27
World Bank Growth Forecast Downgrade Drags Down Metal Prices -
more
Has China's base metals import appetite peaked?: Andy Home - Not so very
long ago base metals bulls marched to the beat of the monthly release of
China's trade figures.-
more
China's December
nickel ore, conc imports fall 62% on year to 2.48 million mt - China's imports
of nickel ores and concentrates fell 61.7% year on year and 13.3% month on
month to 2.48 million mt in December, latest data from the General Administration
of Customs showed Tuesday, January 27. -
more
Solomons
nickel mine on track for production - The Australian miner Axiom says its
nickel mine subsidiary development in Solomon Islands, Axiom KB, is on track
for production to begin at the end of the year. -
more
China commodity
trade data show winners are scarce: Russell - China's detailed commodity
trade figures for 2014 do much to confirm that the trend has changed to higher
import volumes being dependent on lower commodity prices, but there are a
few notable exceptions. -
more
Courtesy AISI
- In the week ending January 24, 2015, domestic raw steel production was
1,825,000 net tons while the capability utilization rate was 75.9 percent.
Production was 1,824,000 net tons in the week ending January 24, 2014, while
the capability utilization then was 75.8 percent. The current week production
represents a 0.1 percent increase from the same period in the previous year.
Production for the week ending January 24, 2015 is up 1.1 percent from the
previous week ending January 17, 2015 when production was 1,806,000 net tons
and the rate of capability utilization was 75.1 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, January 26
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.51/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.10/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME approved warehouses rose to another record high on Friday and
started the week at 424,344 tonnes. Shanghai Metal Markets report nickel
ore stockpiles at five major ports fell for the tenth consecutive week, and
now total around 12.45 million tonnes. This is down for 15.65 million tonnes
the first week of November 2014. Nickel traded uncomfortably close to its
$6.50/lb floor on Friday and the $6.46/lb support level, but has rebounded
today. The markets have become somewhat numb to the record breaking stockpiles
of nickel but the growth in LME numbers this month is something few were
expecting. It could be argued that the growth rates had fallen over the past
few months fo 2014, and it was starting to look like some of the deficit
predictions for 2015 could be proven true right off the bat. But the growth
rate this month has resumed its staggering pace.
Average price of cash nickel so far this month - $6.71/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
SP Angel - Nickel - $14,500/t 2015, $15,000/t 2016, $16,000/t L-T. we cut
this years’ forecast from last years $15,500/t estimate despite our
forecast deficit in the metal. The price should still perform well from current
levels.
(SMM) Jinchuan Group Slashes nickel prices 3,300 yuan to 104,700 yuan on
Jan. 26
WLI Growth Virtually Unchanged from 154-wk Low -
more
China's coal production sees first drop since 2000 -
more
Goldman Sachs
slashes base metal price forecasts, ups gold - Goldman Sachs Group Inc on
Friday slashed its 2015 price forecasts for several base metals including
copper and aluminium while raising its estimate for gold by $62 per ounce.
-
more
China's 10
nonferrous metal output up 7.2% in 2014 - The combined output of the ten
nonferrous metals rose 7.2% year on year to 44.17 million ton in 2014, according
to the latest statistics released by the Ministry of Industry and Information
Technology. -
more
Negotiations
on CR Austenitic Stainless Sheets in Asia Not Lackluster at All - The Japanese
mills are proceeding with negotiations on cold-rolled (CR) austenitic stainless
steel sheets for Asia for shipments of February and March across the Chinese
New Year holiday, which are in a state to be lackluster at all. It is because
the number of inquiries is few and it is in a state to be difficult to conclude
contracts as even in negotiations with customers having a long-term business
relationship, customers require big price reductions. -
more
SUS Mills
to Lower Purchase Price of Ni SUS Scrap by JPY5,000 - 10,000 = Traders' price
of export-oriented cargoes remains unchanged = Japanese Stainless Steel mills
lowered their purchase prices of nickel-containing stainless steel scrap
(SABOT) by JPY5,000 - JPY10,000 per ton on January 20. In addition to many
mills having production adjustment, the weak nickel price and fluctuation
in the foreign exchange are working as factors for a price fall. -
more
China steelmakers
bring forward maintenance, try to dent oversupply - Chinese steelmakers are
bringing forward plant maintenance as they look to curb oversupply that helped
knock nearly a third off prices last year in the world's top producer of
the alloy, industry sources said. -
more
Iron Ore
Extends Rout as China Slows, Banks Reduce Forecasts - Iron ore retreated
to the lowest level in more than five years as a slowdown in China hurt the
outlook for demand in the world’s biggest user while the largest mining
companies add to supply, boosting a surplus. -
more
BNC extends
cash raising period - Mwana Africa investor relations executive Caroline
Mathonsi said the process of raising funds is continuing until February 27
after it was initially supposed to close on January 23. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, January 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.72/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.13/lb
lower, with other
London traded based metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Thursday, and after
a gain of 5,136 tonnes over the last four trading sessions, stockpiles total
423,036 tonnes. They totaled 261,900 tonnes this day last year. Another
interesting fact might be the entire gain in nickel stockpiles for this month
last year totaled 5,070 tonnes. We are already up 8,136 tonnes this month.
If the European stimulus announcement will prove positive for base metals,
it has yet to show, with the announcement sending the Euro south, which in
turn is putting negative pressure on base metal trading. We are still trading
in the $6.50 to $7/lb range with LME stockpile numbers keeping potential
China nickel ore shortages in check. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.72/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Yieh) According to report of World Bureau of Metal Statistics (WBMS), the
global nickel supply was in a surplus of 169,000 tons in the first eleven
months of 2014. In 2013, the global nickel supply was in a surplus of 186,700
tons.
China Nickel Imports and Exports Data December 2014 -
more
China's annual steel consumption drops for first time in three decades -
more
Australia Wins Iron Ore Market Share in China as Mines Shut -
more
China PMI shows January factory growth stalls, fans worries over deflation
-
more
China Nickel
Ore Imports Fall to Four-Year Low on Indonesia Ban - Imports of nickel ore
by China, the world’s largest consumer of industrial metals, slumped
to the lowest in four years as an Indonesian ban on unprocessed minerals
tightened global supply. -
more
World crude
steel output increases by 1.2% in 2014 - World crude steel production reached
1,662 million tonnes (Mt) for the year 2014, up by 1.2% compared to 2013.
-
more
Russia's
Norilsk Nickel Says Weak Ruble Helps Offset Fall in Metals Prices - Falling
metal prices are being more than offset by the ruble slide, allowing Russia's
Norilsk Nickel to maintain margins despite lower foreign currency earnings,
its chief executive said. -
more
China's bonded
nickel premiums surge on creeping shortage - Premiums for bonded nickel in
China have surged in January, an early warning signal of a shortage in raw
feed for China's vast stainless steel industry. -
more
Weak
Growth & Indonesia’s Export Ban Curb China’s Nickel Ore Imports
- Official data show that in 2014 China, the world’s largest consumer
of industrial metals, imported the lowest amount of nickel ore since 2010.
Apart from slowing economic growth in the world’s second-largest economy
(China’s economic expansion having eased to 7.4 percent year-on-year
in 2014), falling nickel ore imports are also caused by Indonesia’s
ban on exports of unprocessed minerals (implemented in January 2014) and
monsoon rains in the Philippines (limiting production and seaborne trade).
-
more
Talvivaara
to seek new state bailout - Bankrupt mining firm Talvivaara Sotkamo might
need another bailout from the government. -
more
U.S. Trade
Balance for Molybdenum in January - November = Overseas outsourced production
is up from year-earlier period = According to the calculation of pure molybdenum
equivalence based on the statistics released by the U. S. Department of Commerce,
the export volume in the period from January to November in 2014 was 652.3
million lbs (up by 23.7% from the year-earlier period), and the import volume
was 380.9 million lbs (up by 19.9% ditto). -
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, January 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.83/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.14/lb
lower, with other
London traded base metals mostly lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Wednesday and now
total 421,842 tonnes. The Euro is trading higher this morning on the market
betting on a huge stimulus program being announced by ECB President Mario
Draghi later today. This si not helping nickel much, which is having a heard
time finding solid footing under the shadow of stockpiles that will not stop
breaking records. Nickel appears to have settled into the $6.50/lb and $7.00/lb
trading range for the time being.
Average price of cash nickel so far this month - $6.73/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MB) China refined nickel imports down 18.96pc in November 2014
Press release
- For the month of January 2015, North American Stainless will reduce the
fuel surcharge to 27% for stainless flat and long products. The surcharge
rate is considered a maximum level for January and will be reviewed monthly.
China's output
of copper, aluminium hits record in Dec - Refined nickel production rose
6.4 percent in December from the previous month to 34,949 tonnes, the highest
since January 2013, data showed. Output in 2014 surged 27 percent to 353,599
tonnes. - more
Norilsk
Nickel's Upgraded Plant Starts Operations in Russian Arctic - Russia's Norilsk
Nickel, the world's largest nickel and palladium miner, has started pilot
operations at its Arctic-based Talnakh concentrator plant after the first
stage of an upgrade to improve productivity. -
more
Russia's Norilsk Nickel starts Arctic plant after first upgrade -
more
Iron
Ore Declines to 2009-Low as Steel Mills Seen Cutting Output - Iron ore declined
to the lowest level in more than five years amid speculation that mills in
China will reduce steel output in the runup to a holiday next month, curbing
demand from the biggest user and worsening a glut. -
more
China
ferrochrome: Domestic spot price higher on supply tightness - The domestic
spot price of 50% Cr Chinese high-carbon ferrochrome on Wednesday, January
21, was assessed at Yuan 6,400-6,500/mt (equivalent to 78-79 cents/lb), including
17% VAT and delivery, up from Yuan 6,350-6,500/mt a week ago amid supply
tightness. -
more
Import Duty
Rates on FA and Ni after Japan-Australia EPA Becomes Effective - The Economic
Partnership Agreement (EPA) between Japan and Australia became effective
on January 15. Accordingly, the new import duty rates on ferroalloys of
Australian origin and nickel are as shown in the table below. -
more
BHP’s
Spinoff Offers Glencore an Alternative to Rio: Real M&A - Rebuffed by
Rio Tinto Group (RIO) last year, Glencore Plc (GLEN) will soon have another
acquisition target to consider for expanding its mining empire: the company
formed from the biggest spinoff in the industry’s history. -
more
3 mining
firms to pay Zambales farmers P3.2M - The Mines and Geosciences Bureau (MGB)
ordered 3 mining firms in Zambales to pay P3.2 million ($72.36 million*)
to compensate the farmers whose lots in the municipalities of Sta. Cruz and
Candelaria have been damaged by their operations. -
more
Taiwan’s
steel maker cuts prices on weak demand - Taiwan’s leading steel
maker—China Steel Corp (CSC) on January 16 announced a deeper 2.27 percent
price cut for its products to be shipped to local customers in March amid
constant oversupply and weak demand, but the nation’s biggest steelmaker
expects prices to rebound next quarter due to recovering demand from the
US and China. -
more
This metal
is so water-resistant that it bounces them off - If you think IPX8 grade
waterproofing is already astounding, prepare to pick up your jaw after seeing
this new metal etching technique. -
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, January 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.68/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading
flat, with other
London traded base metals trading mixed and mostly quietly. Stockpiles of
nickel stored in LME approved warehouses rose to a new record high on Tuesday
and now total 419,964 tonnes. The support level of $6.46/lb has effectively
held, but nickel is having a hard time finding momentum to climb much higher.
China is still booming, although when you only grow 7%, instead of 10%, during
the year, apparently that's bad. The US, who is finding it hard to believe
things are that good, leads the world recovery and can only dream of a 7%
growth. Europe has been, and continues to be, an economic mess. Russia has
crawled back behind its wall, taking aggressive steps with it military, then
crying they are being picked on when the world reacts negatively. Crude oil,
which we have been told for years we were running out of, is now in surplus
and prices are cratering. With all of this going on at once, we can forgive
the analysts who are having a hard time forecasting where nickel prices might
go in 2015. For now, record breaking stockpile growth is keeping the nickel
bulls in check.
Average price of cash nickel so far this month - $6.73/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
BHP Billiton Q2 production of key commodities -
more
Zinc and nickel
price upside ‘imminent': Clarus - There has been a lot of bullish talk
in the metals community about zinc and nickel over the past couple of years,
as many insiders believe those commodities are poised for a rally. -
more
New
Caledonia Nickel Plant Set To Resume Production - New Caledonia's Koniambo
nickel plant is set to resume production after a spill last month shut down
the plant. -
more
Should You
Bet on a Nickel Rally in 2015? - Base metal, collectively, was weighed down
by a series of lows in 2014. Even nickel, the best-performing entity in the
segment last year, was a bit precarious in the third quarter, and managed
only to resurge before the year reached conclusion. -
more
China's 2014
steel output grows at slowest rate since 1981 - China's steel production
grew at its slowest rate in more than three decades in 2014 as a cooling
economy in the world's largest producer curbed demand and the government
moved to tackle overcapacity and pollution. -
more
Western
Areas’ unit costs fall to lowest level in 3 years - Cost management
has resulted in nickel miner Western Areas reporting its lowest quarterly
unit costs of production since December 2011. -
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, January 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.56/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose slightly on Monday and opened today's session
totaling over the 418,000 tonne level. Base metals are trading higher this
morning, even in the face of a weaker Euro. This could be because traders
feel like they dodged a bullet with the Chinese GDP figures released today.
While the slowest growth in a quarter century, the 7.3% that China reported
for 2014, is very respectable and not nearly as low as some had forecast.
The Euro will remain volatile, with all eyes on Greece's upcoming elections
to be held on Sunday. US markets re-open today and futures show a strong
opening possible.
Average price of cash nickel so far this month - $6.74/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
El Nino Alert Abandoned as Australia Predicts Neutral Pacific -
more
Tropical Pacific Ocean moves from El Niño to neutral -
more
IMF trims forecast for China’s GDP growth, raises outlook for US -
more
U.S. Fastener Imports and Exports in November -
more
Nickel
Falls as Surplus Persists for Fifth Month; Copper Slips - Nickel fell for
the first time in three days after data showed global output beat demand
for a fifth month. -
more
Metals Activity
Report December Results - U.S. service center shipments of both steel and
aluminum were higher in December 2014 than in the prior year. -
more
Courtesy AISI
- In the week ending January 17, 2015, domestic raw steel production was
1,806,000 net tons while the capability utilization rate was 75.1 percent.
Production was 1,824,000 net tons in the week ending January 17, 2014, while
the capability utilization then was 75.8 percent. The current week production
represents a 1.0 percent decrease from the same period in the previous year.
Production for the week ending January 17, 2015 is down 4.9 percent from
the previous week ending January 10, 2015 when production was 1,899,000 net
tons and the rate of capability utilization was 79.0 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, January 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.69/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.13/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses slipped on Friday and ended the week at 417,900
tonnes. Nickel appears to have no legs of its own at the moment and is caught
up in the tide, following the general commodity price up and down. Today
commodities are trading lower, as is nickel.
Average price of cash nickel so far this month - $6.76/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Twitter) The global nickel market was in a 3,000 T surplus in Nov '14 compared
with a 15,400 T surplus a year earlier - INSG
Indonesia state firms plan $2 billion of rights offers this year
-
more
Fitch Revises Norilsk Nickel's Outlook to Negative On Sovereign Downgrade
- more
Port Hedland, Apache Evacuate Sites on Australia Cyclone -
more
China stocks plunge 8pc amid crackdown on brokerages -
more
(SSY) Chinese power consumption rose by 3.8% year-on-year to 5.523 trillion
kWh in 2014, according to official data reported by Reuters.
Nickel
Falls as Surplus Persists for Fifth Month; Copper Slips - Nickel fell for
the first time in three days after global production outpaced demand for
a fifth month. -
more
Mining
bill seen enacted this year - The Trade Department expects the passage
of a new mining law this year, which is expected to boost government revenues
and open more mining projects. -
more
December
Production from Ambatovy Nickel Project = Production volume in full year
2014 is 37,053 tons, close to the original schedule = Sherritt International
Corporation, Canada has recently announced that the production volume of
nickel from Ambatovy nickel project in Madagascar in December. -
more
Chinese ferromoly
prices nosedive despite stable prices in global markets - Chinese domestic
price for ferromolybdenum continued to fall over the first two weeks of 2015,
while prices in Japan and Europe have held steady, market sources said Friday,
January 16. -
more
RI-China
joint venture to build smelter in S. Sulawesi - Nickel miner PT Huadi
Nickel-Alloy Indonesia plans to kick off operation of a smelter in Bantaeng,
South Sulawesi, which is slated to be the area’s first nickel-processing
facility. -
more
Iron ore
eyes 2nd weekly fall amid weak construction - Iron ore hovered not far above
its weakest level in 5-1/2 years and was headed for a second consecutive
weekly drop as a soft Chinese property market slowed construction activity,
prompting steel producers to keep stockpiles of the raw material low. -
more
Chinese hedge
funds in aggressive short-selling strategy in copper, other commodities -
Chinese hedge funds, once again linked to a powerful sell-off in copper this
week, were probably replaying an aggressive short-selling strategy they have
also used to target iron ore and coal, according to industry sources. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, January 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.61/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading mostly higher, with copper recently slipping.
Stockpiles of nickel stored in LME approved warehouses rose on Thursday to
another all time record high and now total 418,518 tonnes. Nickel is trading
higher but not looking especially strong. Copper has been dragging the market
behind it this week, and it recently went negative, so it will be interesting
to see if nickel can hold onto its morning gains. Bloomberg is quoting the
People's Bank of China reporting lending rose to a six month high in
December. Any news that hints things might be getting better in China,
will be welcomed by commodity traders. Right now, however, most eyes are
on Europe. The market was already nervous about Greece's future intents,
when it was blindsided by the Swiss National Bank on Wednesday. This uncertainty
is damaging the outlook for commodities, and the impact on the Euro is hurting
the trading value of commodities. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.78/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China Nickel
Buying Tempted by London Prices: Chart of the Day - China may swing back
to being a net importer of refined nickel as benchmark prices in London dropped
below those in Shanghai for the first time in almost three years. -
more
Miners
in for volatile year but recovery trends are emerging - Miners are in for
a volatile year in 2015, as the industry faces price volatility, geopolitical
turmoil, rising costs and declining grades, advisory firm Deloitte has warned.
-
more
First
Quantum nickel mine still closed after chemical spill - First Quantum's nickel
operation in Ravensthorpe remains closed one month after a chemical spill
shut it down in December. -
more
Mincor
surges on nickel discovery - Shares in Mincor Resources surged after the
company announced drilling results which it said might indicate a new high-grade
nickel discovery at its Cassini prospect in the Kambalda nickel district
east of Perth. -
more
World's
best mining dividend at risk in slump - Vale is forecast by analysts to cut
its annual dividend by almost half, jeopardizing its status as the most generous
major mining company as iron-ore prices plummet. -
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, January 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.48/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.13/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses gained only a few tonnes on Wednesday, but it
was enough to set another all time record high level of 418,332 tonnes. Nickel
closed below strong support of $6.62/lb for a second consecutive date, sending
a negative technical signal. Having got caught up in the commodity rout
yesterday, nickel is now tagging along for the general rebound that commodities
are experiencing today. This is to be expected, as is the slight bump in
cancelled warrants as buying interest resurfaces. The World Bank's downgrading
of its global economic growth forecast for 2015 to 3% added fuel to yesterday's
negative dive, but the surprise move by Switzerland to ditch the currency
ceiling it had with the Euro, and the lower trading in the Euro today, is
keeping the trading rebound in check. Technically speaking, nickel is sending
negative signals.
Average price of cash nickel so far this month - $6.80/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Global steel prices continued to decline at the start of 2015 with
the world export price for hot rolled band (HRB) falling $8/t from 22 December,
to $494/t on 12 January, according to the latest World Steel Dynamics
SteelBenchmarker. This is $69/t lower than the level at which it started
in 2014.
(MP) China ferro-nickel imports down 11.96pc in November 2014
Seven charts that explain what's going on in the global economy right now
-
more
Third steel bolt breaks on Cheesegrater skyscraper -
more
Vale's nickel
unit a good target for X2 but higher price needed - Vale's nickel business
is a good target for former Xstrata CEO Mick Davis, but his reported offer
price is probably too low, considering the Brazilian miner's stated interest
in only selling a minority stake, analysts and banking sources said on Wednesday.
-
more
Nickel Outlook
for 2015: Competing Suppliers to Watch for Q1 - Last year, the Indonesian
government followed through with its policy of banning iron ore exports to
the rest of the world. -
more
SUS Mills'
January Purchase Price for Ni SUS Scrap Unchanged = Domestic demand is weak,
but purchase by Taiwan and China props up = In January, Japanese Stainless
Steel mills started their purchase with prices of nickel-containing stainless
steel scrap (SABOT) being JPY165,000 - JPY170,000 per ton (delivered at plant).
-
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, January 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.58/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.14/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Tuesday, and now
totals 418,320 tonnes. Wow! As difficult as it is to try an explain bull
runs most of the time, explaining this bear market is equally difficult.
Nickel fell below major support at $6.62/lb yesterday and is in danger of
closing below it for a second time. $6.20/lb would be the next line of major
support for technical traders to eye if the price continues its fall. Shanghai
Metal Markets is blaming high stockpiles for the most recent price collapse,
which doesn't make a lot of sense since we have been setting all time record
highs since April 2013. We still say watch the trading price of the Euro
and demand in China. The latter has lead the bull run for nickel in the 21st
century, and there is no reason to believe that will change anytime soon.
Average price of cash nickel so far this month - $6.84/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Glencore Plummets to Record as Copper Joins Commodity Rout -
more
NFIB Small Business Economic Trends, December 2014 -
more
Ex-Xstrata
CEO Davis Considering a Bid for Vale Nickel Assets - Former Xstrata Plc chief
executive officer Mick Davis is considering a bid for the nickel business
of Vale SA (VALE), the world’s top producer of the metal, according
to people with knowledge of the situation. -
more
NSSC's Prices
of CR Austenitic Stainless Sheets for Jan Contracts = It raised those prices
for distributors by 10,000 yen = Nippon Steel & Sumikin Stainless Steel
(NSSC) released on 7th its domestic prices of cold-rolled (CR) austenitic
stainless steel sheets and heavy and medium plates for January contracts
to distributors. -
more
First Nickel
reduces workforce by 45% at Sudbury mine - First Nickel says its Lockerby
Mine in Sudbury is being restructured to reduce costs, increase exploration
and extend the life of the mine. -
more
PPMAI urges
Govt not to further hike import duty on stainless steel - Process Plant &
Machinery Association of India (PPMAI) has written to Director General of
Safeguard Duties not to impose any further duty on import of Cold Rolled
Flat Products of Stainless Steel of 400 series in larger interest of the
capital goods industry and the prevailing economic situation in the country.
-
more
Global steel
prices to gain from China's scrapping of export tax rebate - China's cancellation
from January 1 of an export tax rebate on steel alloys that contain boron
may provide support for international steel prices and prompt Russia to fight
for market share in the trade, analysts said. -
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, January 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.87/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around .13/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new record high on Monday, and now totals
416,436 tonnes. The market is in serious risk of testing strong support of
$6.62/lb again, the low trading point for latter 2014, and already tested
once this month, and if that is breached, the next line of strong technical
support is $6.21/lb, the lowest price point for all of 2014. The average
price of $6.86/lb today is the first time we have seen the average below
$7/lb since early march of last year. If commodity prices are the canary
in the coal mine, then the world economy is heading into serious trouble.
We don't really see any evidence of that happening, as economies around the
world have become addicted and dependent on manipulation by their governments.
There has been bets going on for well over a year now on when the US Fed
might increase interest rates in the US. And considering their line in the
sand keeps getting moved to insure they can justify their free money saturation,
they have no motivation to do so. Thanks to lower oil prices, the fear their
money manipulation could result in serious inflation, is lessened. For the
future of nickel prices, watch the Euro value and the economy in China.
Average price of cash nickel so far this month - $6.86/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Daily steel production at Chinese steel mills fell to 2.239 Mt in the
first ten days of January, down from 2.264 Mt in the last 11 days of December,
according to China Iron and Steel Association data reported by Reuters.
(SMM) Jinchuan Group Cuts nickel prices 1,500 yuan to 109,500 yuan on Jan.
13
China’s Copper Imports Climb to Record as Slump Spurs Demand -
more
Iron Ore Imports by China Advance to Record as Price Collapses -
more
China’s Steel Exports Reach Record Before Tax Rebate Dropped -
more
‘Stainless
steel industry needs government support’ - Lower capacity utilisation
and competition with Chinese imports is feared dent the country’s stainless
steel industry, industry players have said. -
more
First Nickel
to cut about 250 jobs at Sudbury mine - Ontario-focused miner First Nickel
(FNI) plans to cut about 250 jobs at its flagship Lockerby nickel/copper
mine, in the Sudbury basin, as part of a restructuring exercise aimed at
reducing costs, increasing exploration and extending the mine life. -
more
Unforeseen
Circumstances Could Rattle Up Nickel Forecasts in 2015 - Commodity analysts
routinely spend the last couple of months of a year forecasting the movement
of a whole range of agricultural and industrial commodities. -
more
Nickel
Asia's ore shipments up more than a fourth in 2014 - Ore shipments by Nickel
Asia Corp (NAC) increased by at least a quarter in 2014, as the company benefited
from higher prices brought about by Indonesia's export ban of the mineral.
-
more
China Wins
From Commodity Slump as Collapse Spurs Imports - China is emerging a winner
from the collapse in commodities prices to the lowest in 12 years as the
world’s second-largest economy buys a record amount of raw materials.
-
more
Tensions
simmer in Zimbabwe as mining firms, workers differ on pay - Mineworkers in
mineral-rich but struggling Zimbabwe may have to wait for a wage rise as
the mining industry says it is beset with serious operational and cost
challenges. -
more
China’s
Virtue Dragon to Invest $5b in SE Sulawesi Ferronickel Smelter - A Chinese
ferronickel producer, Virtue Dragon Nickel Industry, plans to invest up to
$5 billion in Konawe industrial estate in Southeast Sulawesi province to
build a nickel smelter and supporting infrastructure including a power plant
and a port, its president director said on Friday. -
more
Courtesy AISI
- In the week ending January 10, 2015, domestic raw steel production was
1,899,000 net tons while the capability utilization rate was 79.0 percent.
Production was 1,824,000 net tons in the week ending January 10, 2014, while
the capability utilization then was 75.8 percent. The current week production
represents a 4.1 percent increase from the same period in the previous year.
Production for the week ending January 10, 2015 is up 2.3 percent from the
previous week ending January 3, 2015 when production was 1,857,000 net tons
and the rate of capability utilization was 77.2 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, January 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Media is reporting three month nickel closed Friday's trading session at
$6.94/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell on Friday and now total just over the 414,700
tonnes. SMM is reporting nickel ore stockpiles at five Chinese ports fell
for an eighth consecutive week, last week down 320,000 tonnes to 13.33 million
tonnes. Traders were unable to hold onto the $7/lb trading level Friday,
and while the market is trading off earlier session lows, it has been unable
to secure that level in today's trading. $7 is a psychologically important
level, while $6.62/lb is an important support level. The Euro was trading
3% lower this morning, and this is adding additional pressure on base metals.
The majority of Chinese metal analysts polled this weekend, are forecasting
the price of nickel to trade flat this week. We will see.
Average price of cash nickel so far this month - $6.88/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Daily crude steel output at China Iron and Steel Association (CISA)
member mills fell to 1.722 Mt in the last 11 days of December, down 3.6%
from the preceding ten days, according to CISA data reported by SteelFirst
Mindoro’s Joint Venture Company Concludes Two Shipments of Nickel Ore,
Inks Offtake Contract with Tewoo Hoperay -
more
Global
Ferronickel plans $600 mln IPO in booming Philippine market - Global Ferronickel
Holdings Inc, the Philippines' No. 3 nickel producer, is expected to raise
$600 million in a Manila IPO in March, sources said, taking advantage of
higher prices and exports triggered by a ban on shipments of ore from Indonesia.
-
more
Agata Mining ships more ore - Agata Mining Ventures Inc. (Amvi) in December
shipped out two more cargoes of high-iron, low-nickel ores valued at a total
of $1.34 million (about P60 million) from its mine in Agusan del Norte. -
more
Chinese nickel
pig iron prices resilient on tight supply - Spot prices of high-grade nickel
pig iron (10-15% Ni) in China have been fairly resilient over the past month
despite a significant drop in global nickel metal prices. -
more
Nickel
advances as supply tightens - The cost of nickel pig iron, which is
a lower grade alternative for the refined nickel ore, is increasing, and
the inventories are low in commodity, therefore there is a good chance of
restocking. -
more
Russia's
stainless steel import is positive yet - According to SpetsStal's appraisal,
the volume of stainless steel import to Russia in November 2014, compared
to October, decreased by 19.8% to 19,562 tons. -
more
Russia's stainless steel exports in November 2013 - From January to November
2014, compared with the equal period of 2013, Russia's stainless steel exports
decreased 62.1% to 8,121 tons. -
more
Virtue
Dragon Nickel Industry Invests in Nickel Smelter in Indonesia - Chinese
ferronickel producer Virtue Dragon Nickel Industry plans to invest USD $5
billion for the establishment of a nickel smelter, power plant and a port.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Friday, January 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Thursday's trading session
at $7.06/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses fell on Thursday and started todays trading
session just over the 415,150 tonne level. Nickel is trading around the $15,500
tonne level this morning, and showing little motivation to trade in either
direction. The $7/lb level appears to be more of a psychological level than
any technical line of support or resistance. Nickel fell throughout the day
yesterday, before spiking over $300 tonne higher within just a few minutes
before trading ended for the day. It implied a desperate move, so we tend
to look at the trend as turning negative in the short term. Cancelled
warrants have done little since the fell below 22% at the end of December.
They were reportedly in the 40% range this time last year. Have a safe and
relaxing weekend!
Average price of cash nickel so far this month - $6.85/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Twitter) Chinese nickel powder imports down by 30.98% MOM to 225t in Nov
2014
(MF) Japan’s stainless steel exports drop in Nov
Sherritt Announces December Production Update on Ambatovy Nickel Operation
-
more
Legendary metal of ‘Atlantis’ recovered from ancient shipwreck
-
more
LME Ni Average Price in December Up by 1.4% from Prior Month = It drops and
stagnates in latter half of month, and month-end inventory increases to 415,000
tons = LME monthly average price in December 2014 was Cash seller: US$15,918.57
per ton (US$7.221 per lb) and 3-month seller: US$15,993.57 per ton (US$7.255
per lb). -
more
European
stainless steel sector at turning point: Jefferies - The European stainless
steel sector is hitting a turning point in 2015, leading to gradually rising
steel prices and strong earnings growth, investment bank Jefferies said Thursday.
-
more
Aluminium,
zinc and nickel becoming the new favourites - Prospects for the unloved
commodities BHP is exiting through its $US15 billion spin-off South32 are
looking increasingly bright, with aluminium, zinc and nickel tipped to be
among the few standouts in a tough few years ahead. -
more
China’s
Fujian to See 20% Annual Growth in Ferronickel Imports after New Tariff Policy
- Inbound shipments of ferronickel to Ningde in Fujian Province, China are
expected to grow 20% annually after the implementation of new import tariff
in 2015, local media reported. -
more
Panoramic
maintains optimistic outlook - Nickel producer Panoramic Resources has told
shareholders that it was on track to meet its full 2015 production guidance
of between 20 000 t and 21 000 t of contained nickel in concentrate. -
more
Mwana
Africa tiff with Chinese partners dampens recovery - Mwana Africa’s
fallout with its largest shareholder China International Mining Group Corporation
(CIMGC) and Yat Hoi Ning, a Non-Executive Director and associate of CIMGC,
over board seats could drag on to February 2016, the company said on Thursday.
-
more
Axiom secures
funding agreement - Axiom Mining has entered into a strategic partnership
with Anitua Limited for the Isabel Nickel Project. Anitua is providing Aus$5
million in loan funding to advance development of the project. -
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, January 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Wednesday's trading session
at $7.04/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses rose just slightly, but enough to hit a set a
new all time record high of 415,842 tonnes. Nickel was trading much lower
earlier today, but has recovered since. The stimulus program that China is
rumored to be considering, that could increase demand for nickel in that
country, has yet to be announced, and today, Luo Guosen, deputy head of the
investment department at the National Development and Reform Commission in
China told reporters that China is not planning to sharply boost spending.
Traders have brought nickel back into the $7/lb trading range, and we suspect
they will fight hard to stay in this range.
Average price of cash nickel so far this month - $6.83/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Unusual Metal Recovered from Ancient Greek Shipwreck -
more
COLUMN-New
year, same old warehouse problems for London Metal Exchange: Andy Home -
A new year it may be but the London Metal Exchange (LME) will spend a large
part of it grappling with the same old problems afflicting its global warehousing
system. -
more
Natixis: Nickel
prices to move higher in 2015 - Paris based Natixis said the LME nickel prices
expected to average at US$19,000/ton in 2015. -
more
Colombia's
output of nickel, silver, platinum drops in Q3; gold rises - Colombia's
production of nickel, silver and platinum fell in the third quarter of 2014,
while gold production rose, the government said Wednesday in its most-recent
quarterly update. -
more
Look into
double fatality at Stobie to begin April 20 - The Office of the Chief Coroner
for Ontario announced yesterday that an inquest will begin on April 20 into
the deaths of Jason Chenier and Jordan Fram. -
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, January 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Tuesday's trading session
at $6.92/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading mostly lower, Stockpiles of nickels stored
in LME approved warehouses rose to its third record high of the year, and
started today at 415,812 tonnes. Bloomberg is crediting speculation that
China's decision to is accelerate 300 infrastructure projects valued at $1.1
trillion US dollars, will increase demand for nickel, and strain pig nickel
supplies. A good excuse, but realistically, its the beginning of a new year,
and funds, who are only interested in growth, have to find places to
invest and nickel, the winner for positive growth in 2014 among base metals,
stands out as a prime candidate. With funds coming back into the market,
and traders covering shorts, we believe, explains the bounce in prices we
are seeing. How long it will last is anyone's guess, but these runs have
away of building on themselves until they stretch out too far. Computers
monitoring technical markers are more likely to make those decisions more
than any single person. The market wants to get back into the $7/lb range
and unless something happens in the next few days, it looks like they will
be shortly.
Average price of cash nickel so far this month - 6.77/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(FAN) According to data released by Russia's special steel association Spetsstal,
the country's exports of stainless steel products decreased by 63.6% in
January-November period on a yearly basis.
(SMM) Jinchuan Group raised nickel ex-works prices to 110,000 yuan per tonne
on January 7, Shanghai Metals Market learns.
Chinese
ferrochrome market under pressure as import tax is scrapped - The Chinese
domestic ferrochrome market is expected to remain under pressure after the
1% import tax on ferrochrome with more than 4% carbon was scrapped. -
more
Nickel
demand hikes as aerospace industry grows - The nickel industry around the
globe, is experiencing a huge growth in the increasing demand for nickel
in every part of the world. -
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, January 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Monday's trading session
at $6.86/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.10/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME licensed warehouses rose to a new record high on Monday and
started today at 415,388 tonnes. Nickel started a fall mid day yesterday
until it hit strong support at $6.65/lb and has been bouncing ever since.
$6.65/lb is a very important level and traders could not afford nickel prices
falling below that level. Why so important? That was the lowest nickel fell
in 2014 after the springtime bull run, hit in mid October. To have fallen
below this support level could have been dangerous for future nickel prices.
As is, falling to that level appears to have spooked the market and nickel
is up for the second day.
Average price of cash nickel so far this month - $6.68/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Steel inventories in the major Chinese cities rose to their highest
level since the beginning of November 2014 at the end of last week, at 10.2
Mt, according to data from U-metal. This is up 0.5 Mt week-on-but compares
with 13.7 Mt at the start of 2014.
Tropical Pacific waters show signs of cooling -
more
Perils of
commodity price forecasting: The case of nickel - Ahead of the New Year,
commodity specialists and merchant bankers will be routinely engaged in crystal
gazing about price behaviour of a whole range of industrial and agricultural
commodities. -
more
What Will
2015 Have In Store For Commodities Prices? - If you are a miner with a product
to sell, or even if you’re an explorer simply hoping to have a product
to sell one day, there seems little doubt that 2015 is opening on a fairly
downbeat note. -
more
China's CISA
to revise iron ore price index methodology: official - The China Iron &
Steel Association, the organization representing Chinese steel mills, has
started revising its iron ore price index methodology, an association official
said Monday. -
more
Vale
investigates big bang from slag dump - People in Sudbury reported hearing
bang as they sat down to dinner last night. -
more
Courtesy AISI
- In the week ending January 2, 2015, domestic raw steel production was 1,857,000
net tons while the capability utilization rate was 77.2 percent. Production
was 1,787,000 net tons in the week ending January 2, 2014, while the capability
utilization then was 74.5 percent. The current week production represents
a 3.9 percent increase from the same period in the previous year. Production
for the week ending January 2, 2015 is up 6.4 percent from the previous week
ending December 27, 2014 when production was 1,746,000 net tons and the rate
of capability utilization was 72.6 percent. -
more
Norilsk
Nickel: 3 Reasons Why Norilsk Nickel Could Provide Significant Upside - The
company benefits from rising nickel prices, which are likely given Indonesia's
export ban. -
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, January 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones is reporting three month nickel closed Friday's trading session
at $6.75/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses started the year with a new record high
reading on Friday, of 414,900 tonnes, but today slipped slightly to just
over 414,750 tonnes. The Euro is trading at a near 9 year low against the
US Dollar, and the negative pressure on base metals trading is undeniable.
Shanghai Metal Markets is reporting stockpiles of nickel ore held at 5 major
Chinese ports fell by 405,000 tonnes to 13.65 million tonnes. We are having
a hard time finding any analysts forecasting a weak year for nickel prices,
with most in agreement that a deficit will develop 'sometime' and prices
will rise. We hope each of you have a successful 2015 and invite you to check
in with us daily for free updates on the nickel and stainless steel industry.
Average price of cash nickel so far this month - $6.75/lb
Average price of LME traded nickel in 2013 - $6.80/lb / avg 2012 - $7.95/lb
/ avg 2011 - $10.36/lb / avg 2010 - $9.89/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel prices
likely to move higher in 2015 - The rapid change in fundamentals led
to high volatility in Nickel prices in 2014. The volatility is expected to
continue in 2015, according to analyst reports. -
more
Mining in
2015: Nickel price promises much - The metal was languishing at multi-year
lows in January but against market expectations Indonesia stuck to its guns
and stopped nickel ore from leaving its shores. -
more
Embattled
Chinese mining company praises police efforts - Mining company Ramu Nickel
has praised police in their area. Their appreciation was relayed through
Acting Assistant Commissioner of Police (ACP) Momase, Chief Superintendent
Nema Mondiai. -
more
Iron
ore faces weak year: Chinese steel chief - China's steel industry has warned
that iron ore prices will remain under pressure over the year ahead as the
nation's steel mills battle with over-capacity and weak demand. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London trade base metals trading slightly higher as well. Stockpiles of nickel
stored in LME approved warehouses rose to another record high on Thursday
and now total 426,240 tonnes. Since today is the last stock reporting
day by LME, they recorded a gain of 13,092 tonnes over the 21 reporting days
of January. This compares to a gain of 8,652 during the 21 reporting days
in December. Nickel remains rangebound, unable to punch thru minor resistance
earlier. China PMI numbers will be released this weekend and we will see
how the base metals react next week. Have a safe and relaxing weekend.
Reports
Commodity/Economic Comments
Metals poll shows even the losers can be winners: Andy Home - Copper emerges
as the apparent bear stand-out in the latest Reuters poll of base metals
analysts. -
Philippines' Global Ferronickel targets 11 pct rise in ore exports - Global
Ferronickel Holdings Inc , the Philippines' No. 3 nickel producer, said on
Friday it aims to increase ore exports this year by up to 11 percent to 7
million wet metric tonnes, mostly intended for Chinese customers. -
Norilsk
Nickel faces Arctic prices challenge - Russia’s financial crisis is
posing a stark challenge to the country’s largest mining company. -
China steel
industry struggles - Although China's steelmakers saw a big rise in profits
last year, the industry still has overcapacity problems that have dragged
prices to record lows. -
Morning Nickel
Price Statistics & Figures
Vale
plans multiyear investment - After a contract amendment in October last year,
PT Vale Indonesia is gearing up for business expansion with the nickel mining
company preparing multiyear capital expenditure amounting to US$4 billion.
-
Goldman Sees
Commodities as Worst Pick Before Year-End Rally - Commodities will lag behind
equities, bonds and credit markets over the next three months before a rebound
in oil sparks a recovery, according to Goldman Sachs Group Inc. -
(Press Release)
For the month of February 2015, North American Stainless will reduce the
fuel surcharge to 23% for stainless flat and long products. The surcharge
rate is considered a maximum level for February and will be reviewed monthly.
Solomons
nickel mine on track for production - The Australian miner Axiom says its
nickel mine subsidiary development in Solomon Islands, Axiom KB, is on track
for production to begin at the end of the year. -
Negotiations
on CR Austenitic Stainless Sheets in Asia Not Lackluster at All - The Japanese
mills are proceeding with negotiations on cold-rolled (CR) austenitic stainless
steel sheets for Asia for shipments of February and March across the Chinese
New Year holiday, which are in a state to be lackluster at all. It is because
the number of inquiries is few and it is in a state to be difficult to conclude
contracts as even in negotiations with customers having a long-term business
relationship, customers require big price reductions. -
BNC extends
cash raising period - Mwana Africa investor relations executive Caroline
Mathonsi said the process of raising funds is continuing until February 27
after it was initially supposed to close on January 23. -
World crude
steel output increases by 1.2% in 2014 - World crude steel production reached
1,662 million tonnes (Mt) for the year 2014, up by 1.2% compared to 2013.
-
Talvivaara
to seek new state bailout - Bankrupt mining firm Talvivaara Sotkamo might
need another bailout from the government. -
Iron
Ore Declines to 2009-Low as Steel Mills Seen Cutting Output - Iron ore declined
to the lowest level in more than five years amid speculation that mills in
China will reduce steel output in the runup to a holiday next month, curbing
demand from the biggest user and worsening a glut. -
BHP’s
Spinoff Offers Glencore an Alternative to Rio: Real M&A - Rebuffed by
Rio Tinto Group (RIO) last year, Glencore Plc (GLEN) will soon have another
acquisition target to consider for expanding its mining empire: the company
formed from the biggest spinoff in the industry’s history. -
Taiwan’s
steel maker cuts prices on weak demand - Taiwan’s leading steel
maker—China Steel Corp (CSC) on January 16 announced a deeper 2.27 percent
price cut for its products to be shipped to local customers in March amid
constant oversupply and weak demand, but the nation’s biggest steelmaker
expects prices to rebound next quarter due to recovering demand from the
US and China. -
This metal
is so water-resistant that it bounces them off - If you think IPX8 grade
waterproofing is already astounding, prepare to pick up your jaw after seeing
this new metal etching technique. -
flat, with other
London traded base metals trading mixed and mostly quietly. Stockpiles of
nickel stored in LME approved warehouses rose to a new record high on Tuesday
and now total 419,964 tonnes. The support level of $6.46/lb has effectively
held, but nickel is having a hard time finding momentum to climb much higher.
China is still booming, although when you only grow 7%, instead of 10%, during
the year, apparently that's bad. The US, who is finding it hard to believe
things are that good, leads the world recovery and can only dream of a 7%
growth. Europe has been, and continues to be, an economic mess. Russia has
crawled back behind its wall, taking aggressive steps with it military, then
crying they are being picked on when the world reacts negatively. Crude oil,
which we have been told for years we were running out of, is now in surplus
and prices are cratering. With all of this going on at once, we can forgive
the analysts who are having a hard time forecasting where nickel prices might
go in 2015. For now, record breaking stockpile growth is keeping the nickel
bulls in check.
New
Caledonia Nickel Plant Set To Resume Production - New Caledonia's Koniambo
nickel plant is set to resume production after a spill last month shut down
the plant. -
Western
Areas’ unit costs fall to lowest level in 3 years - Cost management
has resulted in nickel miner Western Areas reporting its lowest quarterly
unit costs of production since December 2011. -
December
Production from Ambatovy Nickel Project = Production volume in full year
2014 is 37,053 tons, close to the original schedule = Sherritt International
Corporation, Canada has recently announced that the production volume of
nickel from Ambatovy nickel project in Madagascar in December. -
World's
best mining dividend at risk in slump - Vale is forecast by analysts to cut
its annual dividend by almost half, jeopardizing its status as the most generous
major mining company as iron-ore prices plummet. -
First Nickel
reduces workforce by 45% at Sudbury mine - First Nickel says its Lockerby
Mine in Sudbury is being restructured to reduce costs, increase exploration
and extend the life of the mine. -
PPMAI urges
Govt not to further hike import duty on stainless steel - Process Plant &
Machinery Association of India (PPMAI) has written to Director General of
Safeguard Duties not to impose any further duty on import of Cold Rolled
Flat Products of Stainless Steel of 400 series in larger interest of the
capital goods industry and the prevailing economic situation in the country.
-
European
stainless steel sector at turning point: Jefferies - The European stainless
steel sector is hitting a turning point in 2015, leading to gradually rising
steel prices and strong earnings growth, investment bank Jefferies said Thursday.
-
Colombia's
output of nickel, silver, platinum drops in Q3; gold rises - Colombia's
production of nickel, silver and platinum fell in the third quarter of 2014,
while gold production rose, the government said Wednesday in its most-recent
quarterly update. -
Embattled
Chinese mining company praises police efforts - Mining company Ramu Nickel
has praised police in their area. Their appreciation was relayed through
Acting Assistant Commissioner of Police (ACP) Momase, Chief Superintendent
Nema Mondiai. -
