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Thursday, June 27
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$4.20/lb. Indicators at 6:10
am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just under the 372,900 tonne level. On January 1st of this year, LME recorded
nickel stockpiles totaling 372,066 tonnes and today's figures are only 804
tonnes higher. There is an excellent chance we will enter the second half
of the year, lower than we entered the first half. Nickel prices continue
to rise, as the base metals complex as a whole benefits by a surging Euro
and a falling US Dollar. The upward trend that began on the 13th remains
intact, and at least at the moment, short and mid term technical indicators
remain positive. While Reuters is reporting copper and a few of the other
base metals are trading at three month highs, nickel remains well off its
April highs, reflecting continuing weakness. This is our last update for
the week, month, and first half of 2017, and we hope each of you has a safe
and relaxing weekend. Tuesday, the US will be celebrating its Independence,
so Monday's trading from the States could be constrained as some traders
take a four day weekend.
Average price of cash nickel so far this month - $4.04/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Uncertainty Dampens Trading Activity in Emerging Steel Markets -
more
Crude Steel Output Growth Stalled in Asia and Middle East; African Output
Soared by 11% -
more
Euro, Pound Rally as Traders Adjust Rates Outlook: Markets Wrap -
more
Weak
demand from China stainless steel mills hits ferrochrome prices - Global
prices of ferrochrome, used to make stainless steel, have tumbled to their
lowest levels this year due to weaker demand from stainless steel mills in
top producer China, according to traders in Asia and Europe. -
more
Philippines open-pit mining ban has "no legal basis" -govt official
- A ban on open-pit mining in the Philippines enforced by former environment
minister Regina Lopez has "no legal basis" and is under review, a senior
government official said, the first sign that drastic measures she had ordered
could be challenged. -
more
Nornickel
bets on battery materials for electric cars - Russian miner Norilsk Nickel
(Nornickel) wants to supply more manufacturers with the raw materials used
to make batteries for electric vehicles, its head of marketing and sales
told Reuters. -
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, June 28
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$4.20/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and started the
day just over the 373,900 tonne level. $4.25/lb is next line of resistance
as nickel continues to rise, with only three days left in the quarter. Nickel
jumped yesterday and got a boost from a spike in the Euro trading against
the Dollar. Base metals are helped by a stronger Euro. Euro trading is quieter
today, so far, and so is nickel trading. Nickel is trading above its 10 and
30 day moving average, with the 100 day running just over $4.40/lb. Short
term technical indicators continue to send buy signals. We have seen different
reasons for why nickel is suddenly rising, but are skeptical of them all.
Trading is gambling and traders are either gambling demand will increase,
or simply trading the trend.
Average price of cash nickel so far this month - $4.03/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Wind power's big bet: turbines taller than skyscrapers -
more
Iron Ore Outlook Cut Back by Morgan Stanley Over Rest of Year -
more
The MEPS Global All Products Composite Steel Price Continues to Slip -
more
Euro Extends Gain, Bonds Drop; Europe Stocks Slump: Markets Wrap -
more
BASF,
Norilsk Nickel eye supply deal on battery materials production in Europe
- BASF and Norilsk Nickel say they signed an MoU and entered exclusive
negotiations to cooperate on the supply of raw materials for lithium battery
production in Europe. -
more
Nickel
Dropped Pressured By Expectations Of More Supply - Nickel on MCX settled
down -0.86% at 579.6 pressured by expectations of more supply from Philippines
and Indonesia. -
more
Nickel Ore producer Global Ferronickel on track to meet 6M WMT shipment
target - Global Ferronickel Holdings Inc. (FNI), the country's second-largest
nickel ore producer, is on track to meet a shipment target of 6 million wet
metric tons (WMT) this year, banking on the renewal of its permit in Surigao
del Norte and additional supply from the Palawan mine. -
more
Nornickel
announces completion of Talnakh Concentrator Modernization Project - The
ultimate upgrade of Talnakh Concentrator Project is a key element of the
downstream reconfiguration plan that is aimed at raising the working productivity
and lessening the environmental impact of Nornickel’s manufacturing
sites. -
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, June 27
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$4.10/lb. Indicators
at 6:25 am CST today show 3 month nickel trading around $.05/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and now total
just over the 374,600 tonne mark. Trading price of nickel continues to trade
above the $9000/tonne level, which has short term technical indicators nearly
all flashing buy. Mid and long term indicators are more mixed, with some
positive and others negative. After Allegheny published their July surcharge,
AK Steel followed suit yesterday. We like the AK Steel monthly report as
it shares the material costs they used to garner the surcharge. For july
2017 they show nickel at $4.0454/lb, compared to $3.9218/lb, for the same
period last year. Chrome was $1.10/lb, compared to $.935/lb. Molybdenum,
found in 316, was lower at $7.4666/lb, compared to $8.1829/lb. And iron was
at $.37/lb compared to $.272/lb. Due to these costs differences, their 304
stainless surcharge for July 2017 is $.4323/lb, compared to $.3533/lb last
year. Lower than last month, but higher than last year. S&P published
their monthly steel sentiment index for China and it remains lackluster.
And things are so slow in Australia, that the Daily Telegraph is giving updates
on Clive Palmer's holiday to Europe, with clandestine photo's.
Average price of cash nickel so far this month - $4.03/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
ANZ
Suffered 'Substantial Losses' in Alleged Nickel Receipt Scam - Australia
& New Zealand Banking Group Ltd. told a U.S. court that its commodities
trading arm suffered “substantial losses” after it discovered that
receipts for metal held in Glencore Plc’s Access World warehouses are
probably fake. -
more
US stainless
sheet surcharges fall on lower chrome costs - US stainless flats surcharges
will drop in July alongside lower chrome costs, according to raw material
levies published by domestic mills Monday. -
more
Nickel market is struggling with softening demand - Global nickel miners
are coming under renewed pressure to cut costs or close capacity as a flood
of cheap ore pushes prices to one-year lows, with analysts seeing little
prospect of recovery, Reuters reported. -
more
Philippines Minister May Decide on Mining Closure Orders Next Month
- The new Philippines environment minister said on Tuesday he may decide
next month on the fate of dozens of mining operations and contracts that
his predecessor ordered closed, suspended or cancelled to protect watersheds
and other natural resources. -
more
EU
launches dumping probe into Chinese, Russian, Turkish low-carbon ferrochrome
- The European Commission has launched an antidumping investigation into
imports of low-carbon ferrochrome originating in China, Russia and Turkey.
-
more
Forthcoming GST regime will be a game changer for steel industry: ISSDA
- Indian Stainless Steel Development Association (ISSDA), the country’s
apex stainless steel industry body, has said the forthcoming GST regime will
be a game changer for the industry. -
more
Independence ramps up Nova production - Independence Group (IGO) is
ramping up production of the Nova nickel - copper - cobalt mine to name plate
capacity. -
more
Expecting
demand from govt infra projects, Tata Steel rejigs Kalinganagar plant expansion
- Tata Steel plans to enhance production capacity at its Kalinganagar plant
in Odisha to 8 million tonnes per annum, from three mtpa, in anticipation
of incremental demand from the Centre’s ambitious infrastructure spend
of ?4 lakh crore. -
more
Courtesy
AISI - In the week ending on June 24, 2017, domestic raw steel production
was 1,729,000 net tons while the capability utilization rate was 74.2 percent.
Production was 1,755,000 net tons in the week ending June 24, 2016 while
the capability utilization then was 75.1 percent. The current week production
represents a 1.5 percent decrease from the same period in the previous year.
Production for the week ending June 24, 2017 is down 0.6 percent from the
previous week ending June 17, 2017 when production was 1,739,000 net tons
and the rate of capability utilization was 74.6 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, June 26
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$4.12/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
start the week just under the 375,000 tonne level. Nickel continues in what
we would call a June trend, only broken by a small spike on the 20th
and 21st. On Friday, Allegheny Ludlum announced its stainless steel surcharges
for July, and as predicted, we are seeing a drop. Maybe not as much as we
expected, but after AK Steel published their surcharge, we will see if we
can figure out the difference in last years and this. For example, the surcharge
for 304 stainless steel for July of last year was $.3536/lb compared to
$..4325/lb this year. Better than the $.5403/lb paid this month, but we will
have to see if higher ferrochrome prices really offset the similar or lower
prices of the other ingredients. Final week of the second quarter and first
half of 2017, so we expect to see somewhat restrained trading this week,
as trading houses square their books.
Average price of cash nickel so far this month - $4.02/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Thyssenkrupp signals steel merger decision by end Sept: works council -
more
Iron ore reverts to supply-driven market after 2016 aberration: Russell -
more
European Stocks Jump as Crude, Nestle Power Gains: Markets Wrap -
more
European
ferrochrome price dips nearly 30% in quarter, Merafe says - Though down from
the previous quarter, the price was 12% higher than the 98c in the third
quarter of 2016, sending Merafe’s share price up 0.85% -
more
World Nickel, Zinc and Tin markets moved to marginal deficits: WBMS
- Refined Nickel production in Jan-Apr ’17 was 531.6 kt. The Chinese
smelter/refinery production during the initial four-month period of the year
witnessed decline of 26.0 kt compared to 2016. -
more
MGB
seeks lifting of Pujada Nickel Project suspension - The Mines and Geosciences
Bureau (MGB) in Davao Region hopes to have the suspension of Pujada Nickel
Project in Davao Oriental be lifted with the appointment of the new environment
secretary. -
more
Battle
lines drawn over Zimbabwe chrome claim - On Saturday July 1, 2017 the Zimbabwe
Mining and Smelting Company (Zimasco), the country's biggest ferrochrome
producer, will officially surrender 22 700 hectares of chrome-rich claims
to Government, but far from bringing cheer sabres are rattling and bows are
bent. -
more
Norilsk
Nickel participates in recreation of salmon population in Arctic - The Norilsk
Nickel Company's Murmansk Transportation Branch (MTB) bought and released
into waters of the Umba River in the Murmansk region 47,000 salmon fry. The
company's press service said by restoring the Atlantic Salmon's population
the company compensates for the impact on the environment. -
more
Over
80pc mining activities cover PNG - Mining exploration activities in Papua
New Guinea cover over 80 percent of the country, according to the PNG Extractive
Industries Transparency Initiative Report 2013. -
more
Cobalt
Miners News For The Month Of June 2017 - (quote) Investors are reminded that
cobalt is mostly mined as a byproduct of copper or nickel, hence many of
the miners discussed below are not pure cobalt plays. -
more
Increased customs duty on stainless steel fasteners an
‘oversight’ - Cape Town-based fastener supplier Fastenright is
appealing to the International Trade Administration Commission of South Africa
(Itac) to remove the customs duty that was implemented on stainless steel
fasteners on April 1. -
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, June 22
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$4.08/lb. Indicators at
6:20 am CST today show 3 month nickel trading flat
and just a few dollars
a ton higher. Stockpiles of nickel stored in LME approved warehouses fell
on Wednesday and started the day just over the 376,600 tonne level. It is
obvious that traders or their computers did not want to see nickel closing
for two consecutive days below $9000 per tonne, so it closed yesterday $5/ton
above that level. It was a yo-up day, with nickel closing where it had on
Monday, and recovering from the $185/tonne drop we witnessed on Tuesday.
Nickel is now trading between its 10 day and 30 day moving average. It traders
can concentrate on the $9000/per tonne level, they know the psychologically
important $4/lb will stay in the rear view mirror. Entering the slow summer
months, we will see how successful they are. This is our last weekly update
so we invite you back next week and hope each of you has a a restful, safe
and enjoyable weekend.
Average price of cash nickel so far this month - $4.01/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Iron ore reverts to supply-driven market after 2016 aberration: Russell -
more
China Bad Debt Prices Up 30% as New Gold Rush Gets Under Way -
more
Global nickel deficit narrows in April - INSG - A global deficit of
refined nickel narrowed in April after a jump in refined metal output from
Indonesia and China, data from the International Nickel Study Group showed
on Thursday. -
more
Nickel
smelters suffer with production boom - The effects of a government regulation
permitting the extension of mineral concentrate exports continue to hit the
nickel industry hard, with more than a dozen nickel pig iron smelters halting
operations due to low global prices. -
more
BCL
creditors may lose out - The company allegedly owes about P1 billion to its
close to 700 creditors. Provisional liquidator, Nijel Dixon-Warren has said
during an interview that creditors will have to wait to see whether a buyer
can be secured to restart some, or all of the BCL operations. -
more
China
steel mill spreads surging, as weak raw materials find foothold - Steel mill
export product spreads with raw materials in China have surged in the past
week on the back of a strong recovery in May, which may be incentivizing
seaborne raw materials purchases as traders lock in margins. -
more
EU
Steel Prices Decline due to High Inventories and Import Pressure - Flat product
price weakness persists in both the north and south of Europe, according
to MEPS. Spot business is slow amidst a reluctance to commit to forward
transactions for third quarter business. -
more
Local
View: Minnesotans could be left holding the bag after mining - Most Minnesotans
have heard about the troubling risks that come with copper-nickel mining
projects like the proposed PolyMet mine. -
more
Section
232 Investigation on the Effect of Imports of Steel on U.S. National Security
-
more
Wilbur Ross, Commerce Secretary, Sure Doesn't Understand The Steel Trade
-
more
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, June 21
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$4.00/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and now total
just under the 377,100 tonne level. Nickel's bullish bump evaporated for
the most point yesterday, caught up in an overall bearish mood in commodity
and equity markets. Traders are a little less pessimistic today and nickel
at the moment is higher, although still trading under $9000/tonne. The $4/lb
level did hold again, which is a technical line that traders are fighting
to stay above. Technical indicators are mixed this morning, with nickel trading
above and below its 10 day moving average. World Steel Association reports
worldwide steel production in MAy was 2% higher than the same time last year.
EU warns that any action taken by the Trump administration because of the
Section 232 investigation findings could be harmful to world steel trade.
And down in Australia, where its the first day of winter, Clive Palmer files
a defamation suit against one of the papers there.
Average price of cash nickel so far this month - $4.01/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Reuters - London Metal Exchange tin stocks have sunk below 2,000 tonnes to
the least since 1998, while benchmark LME tin prices have fallen more than
7 percent so far this year, making it the second worst performing base metal
after nickel
Oil Slide Weighs on Stocks; Haven Assets Advance: Markets Wrap -
more
China's
stainless steel glut a new headwind for nickel - International nickel prices
have remained soft in recent months, with the price of the metal for three-month
delivery on the London Metal Exchange down 20% to around $8,900 per ton from
its most recent high reached in late February. -
more
May
2017 crude steel production - World crude steel production for the 67 countries
reporting to the World Steel Association (worldsteel) was 143.3 million tonnes
(Mt) in May 2017, a 2.0% increase compared to May 2016. -
more
Miners
punished as iron ore price continues decline - The Northern China import
price of 62% Fe content ore turned weaker again on Tuesday trading near one
year-lows of $54.40 per dry metric tonne according to data supplied by The
Steel Index. -
more
India
Nickel Scrap prices advance in line with Nickel Futures - India's major nickel
scrap prices advanced on the Scrap Register Price Index as on Monday in line
with nickel futures prices at India's Multi Commodity Exchange mainly due
to Indonesian nickel smelters cease operations due to falling prices. -
more
China’s plan to boost commodity trading needs reality check: Russell
- The call by China’s securities regulator for the country’s wealth
managers to invest in domestic commodity futures is both encouraging and
somewhat bizarre. -
more
EU
looking at firm actions if US S232 measures go ahead - The European Union
is considering taking action in response to the US’s Section 232
investigation against steel imports, should this go ahead, as it could have
a “disastrous” impact on world steel trade, said speakers at S&P
Global Platts’ European Steel Markets conference in Barcelona Monday.
-
more
Inside the wonderful world of Nickel - Nickel is without a doubt one of the
most underrated metals in the world. First discovered in 1751, the chemical
element is found in everything from televisions to batteries to stainless
steel, making it one of several metals that makes modern life work. -
more
Clive
Palmer sues newspaper for defamation - Clive Palmer is suing The Courier-Mail
for defamation over an opinion piece published in the Queensland newspaper.
-
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, June 20
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$4.08/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME approved warehouses went unchanged on Monday and
remain just under the 377,500 tonne mark. Nickel closed yesterday's trading
just over teh $900/per tonne level for the first time this month. Nickel
is now trading above its 10 day moving average, and right at its 30 day moving
average. This has helped move short and longer term technical signals to
the buy side. On the news side, the industry appears to be entering its
summertime quiet period, where we find it hard to find news to link to for
our readers. BMI Research is forecasting worldwide nickel production will
grow in 2017, the first time in four years. Andy Home from Reuters looks
into the recent drop in China steel exports, and Australia's Bureau of
Meteorology cancels its El Nino Watch. Our daily average for the official
cash close is running at $4.00/lb so far this month, compared to a June 2016
month end average fo $4.03/lb, and $4.16/lb last month.
Average price of cash nickel so far this month - $4.00/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
El Niño WATCH cancelled; ENSO neutral likely for 2017 -
more
The Daily Prophet: Has the Fed Looked at Commodities Lately? -
more
Pound Drops on Carney; Europe Stocks Extend Gains: Markets Wrap -
more
Nickel
production to grow for first time since 2013 - Global nickel production
will come out of negative territory this year for the first time since 2013,
driven by Indonesia’s export ban moderation, a new report published
Monday shows. -
more
China
to promote wealth management investment in commodities -regulator - China’s
securities regulator said it will encourage wealth management firms to invest
in commodity futures in a bid to promote its domestic derivatives industry
and raise the amount of commodities in the nation’s assets under management.
-
more
Chinese steel exports sliding sharply, but for how long? Andy Home
- China's exports of steel product have fallen sharply over the first few
months of this year. -
more
Courtesy
AISI - In the week ending on June 17, 2017, domestic raw steel production
was 1,739,000 net tons while the capability utilization rate was 74.6 percent.
Production was 1,755,000 net tons in the week ending June 17, 2016 while
the capability utilization then was 75.1 percent. The current week production
represents a 0.9 percent decrease from the same period in the previous year.
Production for the week ending June 17, 2017 is up 1.2 percent from the previous
week ending June 10, 2017 when production was 1,718,000 net tons and the
rate of capability utilization was 73.7 percent. -
source
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, June 19
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$4.06/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell slightly on Thursday but
rose on Friday and start the week just under teh 377,500 tonne level. Nickel
spent the latter part of last week slowly climbing out from under $4/lb and
that trend continues so far today. After an early dip that put the $4/lb
level in jeopardy, nickel rebounded and has done little since, but remains
at a five week high. Base metals are all positive this morning, which has
been an uncommon sight lately. Nickel supply remains strong, while demand
in China particularly, is questionable in light of surplus steel production
and Chinese attempts to curb that extra production. Indonesia nickel ore
smelters announced some shutdowns in light of lower prices.
Average price of cash nickel so far this month - $4.00/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(TOI) Increased near-term risk with continued weakness in Chinese ferrochrome
prices and softer EU stainless steel base prices prompts Kepler Cheuvreux
to cut Outokumpu to "reduce"
Macron Victory Boosts Europe Stocks; Oil Declines: Markets Wrap -
more
Some
Indonesian nickel smelters cease operations due to falling prices - About
a dozen newly constructed nickel smelters in Indonesia have stopped operations
due to a plunge in nickel prices while others are operating at a loss, an
industry association executive said on Monday. -
more
Palmer
blames CITIC for Qld Nickel collapse - Clive Palmer has launched into an
anti-Chinese spray on the sidelines of his private company's trial with estranged
joint venture partner CITIC, which he blames for the collapse of his Queensland
Nickel business. -
more
Clive Palmer defends $10k per head family cruise: ‘If it’s a crime
to love your wife and children ... I am guilty’ -
more
Botswana to sell off copper, nickel firm - Botswana copper and nickel
producer, BCL Ltd. will be sold off piecemeal after the company failed to
find a buyer, its liquidator said on Friday. -
more
Shanghai
steel extends gains, but shaky demand outlook drags - Chinese steel futures
rose for a third day in a row on Friday but gave up bulk of the day's gains
as the outlook for demand in the world's top steel consumer may not be too
promising, particularly from its property sector. -
more
AIIS
Steel Exports Press Release-April 2017 - Steel exports fell by nearly one-tenth
from March to April, though they remained above the April 2016 level. -
more
China’s Delong to build $950m steel factory in Morowali -
China’s Delong Holdings Limited plans to build a stainless steel factory
in the Morowali Industrial Park in Central Sulawesi with an investment of
around US$950 million, an official with the company said on Friday. -
more
Nickel shows potential for high-temperature superconductivity - A team
of researchers at the U.S. Department of Energy’s (DOE) Argonne National
Laboratory has identified a nickel oxide compound as an unconventional but
promising candidate material for high-temperature superconductivity. -
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, June 15
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$4.06/lb. Indicators at
6:00 am CST today show 3 month nickel trading around $.01/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose on Wednesday and now total
just under the 377,000 tonne level. Nickel bounced yesterday, even though
the Euro dropped as the US Fed raised interest rates, which put negative
price pressure on commodity trading. So far today, nickel has traded within
a $50 per tonne range. Stainless steel surcharges should be announced next
week and we expect to see them to be lower than this month. They shouldn't
be as low as last June, thanks mostly to higher ferrochrome prices. Ferrochrome
typically has a smaller effect on the daily price for of a pound of stainless
steel, even though it makes up a greater part of the ingredient mix. As the
price of nickel falls though, ferrochrome, which sells for about 25% of nickel
these days, does have a greater effect on the overall cost. Nickel averaged
$4.18/lb last April, and this month, is closer to $4.00/lb. Last May, US
stainless steel producers added approximately $.33/lb in 304 stainless steel
surcharge, and this year, after averaging $4.13/lb in May, the same surcharge
was $.54/lb for June. Unless US producers of stainless steel have changed
their formula, we expect the surcharge to come down next month. News is quiet
today, and with this being our last update for the week, we thank you for
visiting and wish each of you a safe and enjoyable weekend.
Average price of cash nickel so far this month - $4.00/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Commodity Drop Saps Stocks; Dollar Gains After Fed: Markets Wrap -
more
Nickel
may remain bearish during the second half of June - It is now middle of June,
and nickel ore market shows no improvement over the past two weeks of the
month. -
more
Ferrochrome producers cut output following fall in Chinese prices -
Several producers of high-carbon ferrochrome have reduced output following
a steep fall in Chinese prices, producers said Thursday. -
more
China's
nonferrous metals production up in May - China's metal output during May,
mainly 10 nonferrous metals increased by about 2.4 percent when compared
to the corresponding period last year, as per National Bureau of Statistics.
-
more
Air district
takes action against smelly Paramount metal plant - The South Coast Air Quality
Management District is cracking down on a Paramount metal manufacturing company
that has received 17 violation notices since December for allegedly emitting
odors. -
more
There Could Be an Infinite Number of Undiscovered Elements Awaiting
Us in the Universe - Due to how vast the universe is, is it possible to find
an element that is not on the periodic table? originally appeared on Quora:
the place to gain and share knowledge, empowering people to learn from others
and better understand 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
Wednesday, June 14
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$3.94/lb. Indicators
at 6:30 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose on Tuesday and now total
just under the 376,500 tonne level. Nickel hit its lowest in a year yesterday
when it closed at $3.94/lb. We show nickel closed at $3.77/lb last April
4th, and prior to that, we have to go back to 2003 to find nickel closing
lower. Technically, nickel closing the last two consecutive days below $4/lb
sends a negative signal, which with all of the other negative indicators
flashing, does not look good for nickel prices rebounding anytime soon.
Average price of cash nickel so far this month - $4.00/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Do Rechargeable Batteries Still Lose Power When They Aren't Being Used? -
more
Europe Stocks Extend Win Streak; Oil Drops on Data: Markets Wrap -
more
Nickel at year low, zinc also down - Nickel prices have touched their lowest
in a year while zinc has also fallen, pressured by a fall in Chinese steel
prices and ahead of expected weaker Chinese data. -
more
Forces
combine to push stainless scrap values lower - Global: Stainless steel scrap
traders have been confronted with falling prices owing to a combination of
weakening steel scrap values, a return to fourth quarter 2016 price levels
for ferro-chrome and falling nickel quotations. -
more
IODEX
slumps to near one-year low of $54/dmt on weak demand - Spot iron ore prices
tumbled to a nearly 12-month low Tuesday as ongoing oversupply and cheaper
substitute feedstocks such as scrap brought pressure down on trade levels.
-
more
EU
distributors see shipments decrease to end-April - European distributors
and flat service centres saw their shipments fall during the first four months
of the year, according to the latest data published by distributors’
association EUROMETAL. -
more
A
visa-free for dirty money: transborder corruption, Russia and the west -
The endemic corruption of Russian business, politics and law enforcement
is spreading to the west – and becoming a global phenomenon. -
more
Mining
exploration spreading across northern Minnesota - Mining companies are expanding
their search for copper, gold and other minerals across northern Minnesota,
with a Department of Natural Resources auction last week attracting bidders
for mining exploration in Beltrami, Lake of the Woods, Koochiching and Itasca
counties. -
more
Cassini Resources final assays extend nickel resource - With all Nebo
assays received, resource remodelling can begin. Cassini Resources has received
assays from its 11 hole infill and extensional drilling program at the Nebo
and Babel deposits within the West Musgrave Project located in Western Australia.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, June 13
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$3.99/lb. Indicators
at 6:15 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell slightly on Monday and now
total just over the 375,800 tonne level. Friday's price spike went sour on
Monday and nickel closed below the $4/lb level and only $90/tonne above its
lowest traded level for the last 12 months. The $4.00/lb level continues
to act as a mental support level and traders fear what might happen if the
traded price fell below it with any staying power. Possible commodities fraud
as back in the news yesterday, and after the debacle in 2014 in Qingdao,
China, traders may have had that in the back of their minds yesterday. Today,
prices have crawled back above $4/lb, but lacking any real enthusiasm so
far.
Average price of cash nickel so far this month - $4.00/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SO) MOC: Average finished steel price in China down 1.2 %
Macquarie - "The nickel market, which had moved into deficit between supply
and demand last year and in the first half of this year, is likely to move
into small surplus during the remainder of 2017."
Europe Stocks Gain as Tech Rout Fades; Pound Rises: Markets Wrap -
more
Is it time to recycle more nickel? - Demand for nickel across the whole
range of applications has increased by around 5% per year since 2010 and
this trend looks set to continue. At the same time a shortfall in production
has developed. -
more
Europe
Nails China Steel, Says Locals Benefit From Subsidized Loans - The European
Union slapped new duties on Chinese steel products over the weekend and China
was not too happy about it. -
more
Will
Indonesia replace China as top NPI producer? - China’s NPI capacity
had been expanding since 2007 as the product has been applied as raw material
for stainless steel production. -
more
Forgery Fears at Glencore Unit Spur Nickel Financing Lawsuit - Glencore
Plc’s Access World unit was drawn into a London lawsuit over losses
from a finance deal that allegedly relied on forged warehouse receipts for
nickel, reigniting concerns about fraud in the storage of commodities. -
more
Chrome
ore output low - The country’s chrome ore output for the first quarter
of 2017 stood at 316 625 tonnes slightly lower than the annual projection
of 375 000 tonnes. Of the recorded figure, about 113 571 tonnes was exported
as raw ore while 203 054 tonnes was value added and exported as high carbon
ferrochrome. -
more
Courtesy
AISI - In the week ending on June 10, 2017, domestic raw steel production
was 1,718,000 net tons while the capability utilization rate was 73.7 percent.
Production was 1,755,000 net tons in the week ending June 10, 2016 while
the capability utilization then was 75.1 percent. The current week production
represents a 2.1 percent decrease from the same period in the previous year.
Production for the week ending June 10, 2017 is down 1.8 percent from the
previous week ending June 3, 2017 when production was 1,749,000 net tons
and the rate of capability utilization was 75.0 percent. -
more
Tanzania claims 19 years of mining fraud cost $84bn - Fraud in the
mining sector since 1998 has cost Tanzania $84 billion, an investigating
commission said Monday, blaming foreign companies failing to declare revenues.
-
more
Precious metals-rich Philippines encounters powerful opposition to
mining - Activists point to rights abuses, ecological disasters and what
they believe to be unfair distribution of profits. -
more
Mining
a delicate balance of enviro vs. economics - Mining has, for some time now,
been considered by many a contentious issue, and a delicate balancing act
between a means of providing desirable economic benefits and a process that
potentially leads to avoidable long-lasting environmental concerns. -
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, June 12
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$4.07/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
start the week just under the 375,9- tonne level. Nickel continues to hover
just over the $4/lb level, although it bounced on Friday, and fighting to
hold on to that positive momentum today. Short term indicators have turned
positive, while indicators for any period over a few hours, remain negative.
Friday's bounce appears to be a combination of positive economic news from
China, a rarity these days, no smoking gun in the Comey hearing, and the
stunning election results in England. Hope each of you have a successful
week. Success is not measured by how much money you make.
Average price of cash nickel so far this month - $3.99/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
April Steel Shipments Up 0.7 Percent Year-Over-Year -
more
(Yieh) According to China's joint steel network statistics showed that China's
27 mainstream stainless steel mills ‘ crude steel production was 1,812,100
tons in May of this year, down by 5.69%.
Tech Selloff Spreads; Pound Swings as May Battles: Markets Wrap -
more
Indonesia
Cuts Base Export Prices of Nickel Ore, Why? - Indonesia’s Ministry of
Trade said recently in Jakarta that the government will cut the base export
prices of mineral products in June due to volatile prices in international
market. -
more
Material Matters: Stainless, Tin & Batteries - A glance through
the latest expert views and predictions about commodities. Stainless steel;
tin; battery materials; and oil. -
more
Stainless
steel market update May’17- Stainless prices move down on lower surcharges
- During the month of April 2017, stainless steel prices dropped in all the
three major markets, America, Europe and China. -
more
Ni
SUS Scrap Purchase Price in Kanto in June Starts with JPY115,000/125,000
= Because of continuing drop in LME nickel price and anticipation of drop
in demand = As of June 5, many of the stainless steel mills in the Kanto
area offer the purchase price (delivered at plant) of nickel-containing stainless
steel scrap (SABOT) at the range from JPY115,000 to JPY125,000 per ton.
(Hereinafter, the price is per ton) -
more
Eramet
Finalises Agreement with Tsingshan to Develop the Weda Bay Nickel Deposit
in Indonesia - Eramet has announced an agreement finalised with the Chinese
Steel Group Tsingshan, a leading stainless steel world producer, to develop
the Weda Bay nickel deposit in Indonesia. -
more
EU
distributors see shipments decrease to end-April - European distributors
and flat service centres saw their shipments fall during the first four months
of the year, according to the latest data published by distributors’
association EUROMETAL. -
more
BIR:
Emergence of “multi-polar” scrap trading - Improved prices at the
start of 2017 had led to a healthy availability of stainless steel scrap
- but “these positive conditions were not to last”. -
more
A
clash of new and old for the lost heart of metals trading? - Is a showdown
looming in the world of industrial metals trading? It would, at first glance,
seem that way. -
more
DMCI
Mining to resume nickel ore shipments - DMCI Mining Corp. President Cesar
F. Simbulan, Jr. told reporters on June 3 the Consunji-led firm will ship
200,000 metric tons (MT) of nickel ore from its stockpiles in Palawan and
Zambales, bulk of which will go to China. -
more
Natixis sues Marex Spectron over metals warehouse receipts - French
bank Natixis has sued broker Marex Spectron for $32 million over alleged
fraudulent receipts for nickel stored at warehouses in Asia run by a unit
of commodities giant Glencore, a court filing showed. -
more
The
federal government wants to put a national park right where it will cost
First Nations mine-workers their jobs - Why is the federal government planning
to create a national park on top of potentially lucrative nickel ore deposits
in Northern Manitoba? -
more
Nornickel
has completed the Talnakh concentrator modernisation project - Nickel and
palladium miner Norilsk Nickel (Nornickel) has completed the Talnakh concentrator
modernisation project, in Russia’s Arctic region. -
more
Sam
Panopoulos, Canadian inventor of Hawaiian pizza, dies at 83 - (quote)
After arriving in Halifax in 1954, he moved to Montreal, then Elliot
Lake, Ont., where he worked in the mines.
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, June 8
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$4.00/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Wednesday and now total
just under the 378,200 tonne level. Nickel traders continue to look to $4/lb
as the line in the sand as bulls fight to stay above that level. Today we
are seeing a slight bounce, after closing at $3.996/lb last night. Nickel
stockpiles are now recording levels below where they started last month,
but remain higher than the level we saw on January 2nd. One of the reason
we think nickel miners are so resistant to curtail production in the face
of low prices, is the success cobalt is seeing this year. Cobalt is a byproduct
of many nickel miners, and to get to one, you get the other. Thanks to
rechargeable batteries, cobalt prices have nearly doubled in the first few
months of 2017. Many forecasters say cobalt has room to run, and if true,
we could see nickel production stay higher than usual. If interested in learning
more about cobalt, here is an interesting observation made a few months ago
(Cobalt miner news). This is our last update for teh week
so we hope each of you has a safe and relaxing weekend and hope to see you
back here next week.
Average price of cash nickel so far this month - $3.99/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Investors Avoid Big Moves as Key Events Draw Near: Markets Wrap -
more
China's exports rise for third straight month -
more
A clash of new and old for the lost heart of metals trading?: Andy
Home - Is a showdown looming in the world of industrial metals trading? It
would, at first glance, seem that way. -
more
Global
nickel miners under pressure to cut costs - Global nickel miners are coming
under renewed pressure to cut costs or close capacity as a flood of cheap
ore pushes prices to one-year lows, with analysts seeing little prospect
of recovery. -
more
India
Nickel Scrap prices stay steady; Nickel Futures slightly advance - India's
major nickel scrap prices stayed steady on the Scrap Register Price Index
as on Tuesday, while nickel futures prices at India's Multi Commodity Exchange
gained amid expectations of weak demand as a seasonal construction slowdown
in the summer months looms. -
more
Steel
Imports Jump in First Four Months - The U.S. imported 3.3 million net tons
of steel in April, down 3.1 percent from March, including 2.5 million tons
of finished steel, a 1.7 percent decline, based on preliminary Census Bureau
data, reports the American Iron and Steel Institute in Washington. -
more
AISI Releases May SIMA Imports Data; Import Market Share 27 percent in May
-
more
Justice
Dept. seeks dismissal of Twin Metals lease lawsuit - The Trump Justice Department
has filed a motion to dismiss a lawsuit by Twin Metals over last December’s
decision by the Bureau of Land Management to deny renewal of two federal
mineral leases critical to the company’s plans for a copper-nickel mine
near Ely. -
more
Mining opponents seek dismissal of Twin Metals' lawsuit -
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, June 7
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$4.02/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading unchanged
. Stockpiles of nickel
stored in licensed warehouses fell on Tuesday and totaled just under the
379,600 tonne level. The market continues to do little, with traders waiting
for geopolitical news to determine if the bear market will continue, or the
bulls will find some room to roam. Look to $4/lb as support - both
psychologically and technically, with $3.83/lb still our 'must hold' support
line. At the moment, technical signals remain bearish. Chinese media is reporting
ferrochrome prices continue to slide in that country, and with nickel trading
at near year lows, and iron ore back down, stainless steel prices are sure
to follow. Even the Baltic Dry Index is lower, so shipping charges from overseas
are lower. Industry news is on the light side today, so we have posted some
links to stories on steel and iron ore stories that are applicable to the
stainless steel industry.
Average price of cash nickel so far this month - $3.99/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Current state of the Pacific and Indian oceans -
more
(PR) AK Steel Announces Price Increase For Carbon Steel Products
Saudi Dispute With Qatar Has 22-Year History Rooted in Gas -
more
Markets cautious ahead of potential turbulence on Thursday -
more
Flight to Havens Eases; Bank Rescue Spurs Equities: Markets Wrap -
more
Low
prices to pile more pressure on beleaguered nickel miners - Global nickel
miners are coming under renewed pressure to cut costs or close capacity as
a flood of cheap ore pushes prices to one-year lows, with analysts seeing
little prospect of recovery. -
more
Nickel
Prices Hover Near One-Year Low - Nickel prices have gone through an abrupt
change in recent weeks, with the commodity now down bout 10% year-to-date
to make it the worse performer of the LME-traded industrial metals. In March,
LME nickel futures were on a bull-run, having hit over $11,000 per ton. -
more
Nornickel
completes upgrade of Arctic-based concentrator – Nickel and palladium
miner Norilsk Nickel (Nornickel) has completed the Talnakh concentrator
modernisation project, in Russia’s Arctic region, the company reported
on Wednesday. -
more
Climate Change - Global warming is one of the major challenges facing
the world today. The demand for energy and related carbon emissions are rising
due to population growth. At the same time, higher living standards are resulting
in increased per capita use of energy. -
more
The
Hard-to-Believe Steel Shortage That's Unfolding in China - The world’s
top steelmaker may have a shortage of steel. China has a lack of rebar, according
to iron ore miner Fortescue Metals Group Ltd., which says a shortfall of
the key product helps to explain a divergence between the price of the commodity
it digs up with the alloy it’s made into. -
more
This
analyst thinks he knows what’s been driving the wild price action in
iron ore markets recently - Iron ore markets have been on a rollercoaster
ride in recent days, tanking, then surging, before subsequently tanking again.
-
more
China's steady iron ore imports contrast with price swings: Russell -
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, June 6
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$4.04/lb. Indicators
at 6:20 am CST today show 3 month nickel trading nearly unchanged
. Stockpiles of nickel
stored in LME approved warehouses fell on Monday and started the day just
over the 379,900 tonne level. Nickel is again drifting just above the $4/lb
trading level, with traders resisting technical indicators that all are sending
sell signals. Markets in general are subdued this week, with the Comey testimony
before Congress on Thursday sure to get a worldwide audience. Yesterday's
arrest of a NSA leaker revealed Russia had not only hacked Democratic e-mails
during the US election of 2016, but also hacked a company that made electronic
ballot machines shortly before the election. This whole situation is putting
the entire election process in question, something no one in Washington,
from either party, wants to acknowledge. For now, anyone who questions any
election result is a sore loser, but it will be interesting to watch DC tap
dance in the months to come - and the mid term election process next year.
Our Pacific island allies are expressing regret about President Trump's decision
to back out of the Paris climate agreement. These islands have a special
interest in the agreement as they are especially susceptible to rising ocean
levels, and are of interest to the nickel industry because of their annual
contributions to world production.
Average price of cash nickel so far this month - $3.99/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Havens Rally as Risk Events Stack Up; Oil Swings: Markets Wrap -
more
COLUMN-Nickel facing a long and rocky road to price recovery: Andy
Home - Nickel touched a near one-year low of $8,700 per tonne on the London
Metal Exchange (LME) last week. -
more
Material Matters: Stainless, Tin & Batteries - While the first
quarter of this year was strong for stainless steel production, Macquarie
observes orders, subsequently, have fallen sharply across the globe as buyers
de-stocked. -
more
New
Caledonia's Vale fined over acid spill - New Caledonia's Vale nickel company
has been fined just under $US2,000 for an acid spill in 2014. -
more
Jiangsu
Delong Nickel to build new stainless steel production facility - The Economic
and Information Technology Commission of China’s Jiangsu Province has
announced that Jiangsu-based company Jiangsu Delong Nickel Co., Ltd (Jiangsu
Delong Nickel) will construct a new stainless steel production facility with
an annual output capacity of 1.12 million mt. -
more
Declare
offshore wealth? Russia tycoons would rather ship themselves off shore -
Some of Russia's super-rich have given up residency to escape a 2014 law
requiring them to disclose offshore assets, wealthy businessmen told Reuters,
a practice that could keep billions of dollars hidden from Moscow's tax
authorities. -
more
Commercial uses of nickel - I got these illustrations from the fb page
of PH Nickel Industry Association (PNIA). Useful info. Makes one realize
that without this mineral, modern life as we know it is hardly possible.
-
more
Courtesy
AISI - In the week ending on June 3, 2017, domestic raw steel production
was 1,749,000 net tons while the capability utilization rate was 75.0 percent.
Production was 1,742,000 net tons in the week ending June 3, 2016 while the
capability utilization then was 74.5 percent. The current week production
represents a 0.4 percent increase from the same period in the previous year.
Production for the week ending June 3, 2017 is down 0.2 percent from the
previous week ending May 27, 2017 when production was 1,753,000 net tons
and the rate of capability utilization was 75.2 percent. -
more
Vague
Russian promises on slashing pollution continue to frustrate Norway - More
than two decades of successful environmental cooperation between Norway and
Russia, especially on coping with the Cold War nuclear legacy, still hasn’t
reduced deadly sulfur dioxide emissions from the Kola Mining and Metallurgy
Company wafting over the Norwegian border. -
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, June 5
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$4.04/lb. Indicators at
6:25 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on both Thursday and Friday
and now total just under the 381,500 tonne level. Nickel is fighting to remain
above the $4/lb level, and traded as low as $3.95/lb on Friday. Trading ended
Thursday at $4.01/lb and recovered slightly on Friday. Market appears to
be in a holding pattern so far today, with traders waiting to see who blinks
first. Markus Moll of Steel & Metals Market Research is forecasting nickel
will climb back to $4.50/lb by years end, but in the short term, just holding
onto the $4/lb level is what has bulls most immediate attention.
Average price of cash nickel so far this month - $3.98/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Vedanta, Vale Lead Base-Metals Mining Drop as Iron Ore Plunges -
more
Oil Gains on Gulf Crisis; Metals Hit Europe Stocks: Markets Wrap -
more
Ever wonder why so many "Buy America" companies purchase their commodities
from foreign owned manufacturers or distributors?
Nickel
sinks to 11-month low on dimmer China outlook - Nickel prices have touched
an 11-month low, hit by concerns about oversupply in producing countries
coupled with economic warning signs in China, the No. 1 importer. -
more
Policy
upheavals buffet mining in Philippines, Indonesia - In the eyes of Diosdado
Alota, chief of Guinabon village in the northwest Philippines, the mining
industry is key to his community's health. -
more
Nickel
prices seen recovering to $10,000/t by year-end - Nickel prices should recover
to around $10,000/tonne by the end of 2017, while crude stainless steel
production will grow 4.8% on-year this year to 49.2 million tonnes, according
to Markus Moll of Austria-based Steel & Metals Market Research. -
more
Prices
of HR Austenitic Stainless Coils Fall to $1,600 CFR Level in Asia - According
to a source, prices of austenitic stainless steel flat products are largely
falling in the East Asian region. -
more
Members lament impact of imported products on local industry - In April,
the Southern Africa Stainless Steel Development Association (Sassda) conducted
a Short Track Survey that gave an account of the state of the stainless steel
industry, compared with this time last year, which had Sassda members lamenting
the negative impact of imported stainless steel products. -
more
CEO
of Finnish miner Talvivaara gets suspended sentence for misleading investors
- The founder and chief executive of troubled Finnish miner Talvivaara was
handed a suspended eight month sentence on Friday after a court ruled the
company gave investors unrealistic forecasts for nickel production. -
more
Suspended prison terms, fines for Talvivaara mine bosses -
more
Stainless
steel association wants utensils, cutlery under same GST tax slab - Stainless
steel traders in the capital sought the placement of utensils and cutlery
under the same bracket within GST taxation framework. -
more
Mining
reps weary of all talk, no action in Ring of Fire - Some key players in the
Ontario mining industry said they’re getting sick and tired hearing
about the Ring of Fire. -
more
Chinese railroaders like the route to the Ring of Fire -
more
PM’s remarks about Clive Palmer could have implied fraud, judge
finds - A Queensland judge has found comments made by the prime minister,
Malcolm Turnbull, about Clive Palmer and the demise of Queensland Nickel
“could well be viewed” as a suggestion the mining magnate had acted
fraudulently. -
more
Clive
Palmer sells Queensland Nickel Headquarters - Embattled businessman Clive
Palmer has sold the head office of his Queensland Nickel company as part
of a $53.7 million sale of three adjoining properties in Brisbane's "Golden
Triangle". -
more
Flying
Yankee train won’t be returning to Concord after plans derailed - The
Flying Yankee won’t be flying to Concord after all – at least,
not any time soon. -
more
Call
to Halt Deep Sea Mining - At the upcoming United Nations’ The Ocean
Conference, which will take place in New York from June 5 to 9, Seas At Risk
is calling for a halt to deep sea mining. -
more
65 Things You Might Not Know About Steel - While many of us associate
the introduction of steel into economics with the start of the First Industrial
Revolution, steel has actually been around for a VERY long time. -
more
Former
Townsville man killed in US - San Francisco detectives have made an arrest
in the killing of a former Townsville man as his family began the heartbreaking
and long trek to bring his body home. -
more
One Arrested in Connection With Australian Tourist's Homicide at San Francisco
Hotel -
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, June 1
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$4.07/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses rose on Wednesday and start the
day just under the 385,000 tonne level. The nickel bears continue to control
trading, with nickel closing below the $9000/tonne level yesterday, and looking
like it may do it for a second consecutive day today. That will send a technical
signal to the market that this bear run is likely not over, although to be
fair, technical signals have not proven very reliable lately. Nickel closed
at $3.83/lb on May 1st 2016, but it had traded at a low of $3.78/lb that
day. That will be a 'super 'support line, because that has been the lowest
nickel had traded since 2003. Nickel will be offering some great opportunities
for investors - if the buy is timed right. Stainless steel prices are already
lower for June. Have a safe and relaxing weekend and we hope to see you back
next week.
Average price of cash nickel so far this month - ($4.15/lb average for May)
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Tweet) Goldman predicts a supply surplus of nickel of 37,000 tons in 2017
and 100,000 tons in 2018.
Stocks in Upbeat Mood as Oil Rises, Havens Slip: Markets Wrap -
more
Rising
supplies, weak demand push nickel to 11-month low - Nickel prices tumbled
to 11-month lows on Wednesday on investor concern over rising supply from
top producers Indonesia and the Philippines as well as weak demand from stainless
steel mills in China. -
more
Notable
Prediction - (Goldman Sachs 5/31) - "Prices will remain trading at very low
levels through 2017 and much of 2018, until a substantial supply response
both in China and outside of China eradicates our forecast surplus of 37,000
tonnes in 2017 and about 100,000 in 2018."
Press
Release - For the month of June 2017, North American Stainless will maintain
the fuel surcharge of 20% for stainless flat and long products.
China
iron ore falls 6 pct to 6-mth low, steel sags despite upbeat PMI - Iron ore
futures in China tumbled 6 percent on Wednesday to the lowest since November,
posting their biggest monthly decline in a year, amid lower steel prices
and a glut of the raw material. -
more
Workers’ agitation disrupts production at Ganjam plant - The agitation
by retrenched unskilled contractual workers has disrupted production at the
ferrochrome plant of Tata Steel near Gopalpur port in Ganjam district for
the past ten days. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(7:00 AM CST is 12 PM in London)
. Indicators at 6:10
am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just under the 372,900 tonne level. On January 1st of this year, LME recorded
nickel stockpiles totaling 372,066 tonnes and today's figures are only 804
tonnes higher. There is an excellent chance we will enter the second half
of the year, lower than we entered the first half. Nickel prices continue
to rise, as the base metals complex as a whole benefits by a surging Euro
and a falling US Dollar. The upward trend that began on the 13th remains
intact, and at least at the moment, short and mid term technical indicators
remain positive. While Reuters is reporting copper and a few of the other
base metals are trading at three month highs, nickel remains well off its
April highs, reflecting continuing weakness. This is our last update for
the week, month, and first half of 2017, and we hope each of you has a safe
and relaxing weekend. Tuesday, the US will be celebrating its Independence,
so Monday's trading from the States could be constrained as some traders
take a four day weekend.
Reports
Commodity/Economic Comments
Weak
demand from China stainless steel mills hits ferrochrome prices - Global
prices of ferrochrome, used to make stainless steel, have tumbled to their
lowest levels this year due to weaker demand from stainless steel mills in
top producer China, according to traders in Asia and Europe. -
Philippines open-pit mining ban has "no legal basis" -govt official
- A ban on open-pit mining in the Philippines enforced by former environment
minister Regina Lopez has "no legal basis" and is under review, a senior
government official said, the first sign that drastic measures she had ordered
could be challenged. -
Nornickel
bets on battery materials for electric cars - Russian miner Norilsk Nickel
(Nornickel) wants to supply more manufacturers with the raw materials used
to make batteries for electric vehicles, its head of marketing and sales
told Reuters. -
Morning Nickel
Price Statistics & Figures
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and started the
day just over the 373,900 tonne level. $4.25/lb is next line of resistance
as nickel continues to rise, with only three days left in the quarter. Nickel
jumped yesterday and got a boost from a spike in the Euro trading against
the Dollar. Base metals are helped by a stronger Euro. Euro trading is quieter
today, so far, and so is nickel trading. Nickel is trading above its 10 and
30 day moving average, with the 100 day running just over $4.40/lb. Short
term technical indicators continue to send buy signals. We have seen different
reasons for why nickel is suddenly rising, but are skeptical of them all.
Trading is gambling and traders are either gambling demand will increase,
or simply trading the trend.
Nickel
Dropped Pressured By Expectations Of More Supply - Nickel on MCX settled
down -0.86% at 579.6 pressured by expectations of more supply from Philippines
and Indonesia. -
ANZ
Suffered 'Substantial Losses' in Alleged Nickel Receipt Scam - Australia
& New Zealand Banking Group Ltd. told a U.S. court that its commodities
trading arm suffered “substantial losses” after it discovered that
receipts for metal held in Glencore Plc’s Access World warehouses are
probably fake. -
US stainless
sheet surcharges fall on lower chrome costs - US stainless flats surcharges
will drop in July alongside lower chrome costs, according to raw material
levies published by domestic mills Monday. -
Nickel market is struggling with softening demand - Global nickel miners
are coming under renewed pressure to cut costs or close capacity as a flood
of cheap ore pushes prices to one-year lows, with analysts seeing little
prospect of recovery, Reuters reported. -
EU
launches dumping probe into Chinese, Russian, Turkish low-carbon ferrochrome
- The European Commission has launched an antidumping investigation into
imports of low-carbon ferrochrome originating in China, Russia and Turkey.
-
Forthcoming GST regime will be a game changer for steel industry: ISSDA
- Indian Stainless Steel Development Association (ISSDA), the country’s
apex stainless steel industry body, has said the forthcoming GST regime will
be a game changer for the industry. -
World Nickel, Zinc and Tin markets moved to marginal deficits: WBMS
- Refined Nickel production in Jan-Apr ’17 was 531.6 kt. The Chinese
smelter/refinery production during the initial four-month period of the year
witnessed decline of 26.0 kt compared to 2016. -
Battle
lines drawn over Zimbabwe chrome claim - On Saturday July 1, 2017 the Zimbabwe
Mining and Smelting Company (Zimasco), the country's biggest ferrochrome
producer, will officially surrender 22 700 hectares of chrome-rich claims
to Government, but far from bringing cheer sabres are rattling and bows are
bent. -
Over
80pc mining activities cover PNG - Mining exploration activities in Papua
New Guinea cover over 80 percent of the country, according to the PNG Extractive
Industries Transparency Initiative Report 2013. -
Increased customs duty on stainless steel fasteners an
‘oversight’ - Cape Town-based fastener supplier Fastenright is
appealing to the International Trade Administration Commission of South Africa
(Itac) to remove the customs duty that was implemented on stainless steel
fasteners on April 1. -
and just a few dollars
a ton higher. Stockpiles of nickel stored in LME approved warehouses fell
on Wednesday and started the day just over the 376,600 tonne level. It is
obvious that traders or their computers did not want to see nickel closing
for two consecutive days below $9000 per tonne, so it closed yesterday $5/ton
above that level. It was a yo-up day, with nickel closing where it had on
Monday, and recovering from the $185/tonne drop we witnessed on Tuesday.
Nickel is now trading between its 10 day and 30 day moving average. It traders
can concentrate on the $9000/per tonne level, they know the psychologically
important $4/lb will stay in the rear view mirror. Entering the slow summer
months, we will see how successful they are. This is our last weekly update
so we invite you back next week and hope each of you has a a restful, safe
and enjoyable weekend.
Nickel
smelters suffer with production boom - The effects of a government regulation
permitting the extension of mineral concentrate exports continue to hit the
nickel industry hard, with more than a dozen nickel pig iron smelters halting
operations due to low global prices. -
BCL
creditors may lose out - The company allegedly owes about P1 billion to its
close to 700 creditors. Provisional liquidator, Nijel Dixon-Warren has said
during an interview that creditors will have to wait to see whether a buyer
can be secured to restart some, or all of the BCL operations. -
May
2017 crude steel production - World crude steel production for the 67 countries
reporting to the World Steel Association (worldsteel) was 143.3 million tonnes
(Mt) in May 2017, a 2.0% increase compared to May 2016. -
Nickel
production to grow for first time since 2013 - Global nickel production
will come out of negative territory this year for the first time since 2013,
driven by Indonesia’s export ban moderation, a new report published
Monday shows. -
Forgery Fears at Glencore Unit Spur Nickel Financing Lawsuit - Glencore
Plc’s Access World unit was drawn into a London lawsuit over losses
from a finance deal that allegedly relied on forged warehouse receipts for
nickel, reigniting concerns about fraud in the storage of commodities. -
Tanzania claims 19 years of mining fraud cost $84bn - Fraud in the
mining sector since 1998 has cost Tanzania $84 billion, an investigating
commission said Monday, blaming foreign companies failing to declare revenues.
-
Ni
SUS Scrap Purchase Price in Kanto in June Starts with JPY115,000/125,000
= Because of continuing drop in LME nickel price and anticipation of drop
in demand = As of June 5, many of the stainless steel mills in the Kanto
area offer the purchase price (delivered at plant) of nickel-containing stainless
steel scrap (SABOT) at the range from JPY115,000 to JPY125,000 per ton.
(Hereinafter, the price is per ton) -
The
federal government wants to put a national park right where it will cost
First Nations mine-workers their jobs - Why is the federal government planning
to create a national park on top of potentially lucrative nickel ore deposits
in Northern Manitoba? -
Vague
Russian promises on slashing pollution continue to frustrate Norway - More
than two decades of successful environmental cooperation between Norway and
Russia, especially on coping with the Cold War nuclear legacy, still hasn’t
reduced deadly sulfur dioxide emissions from the Kola Mining and Metallurgy
Company wafting over the Norwegian border. -
CEO
of Finnish miner Talvivaara gets suspended sentence for misleading investors
- The founder and chief executive of troubled Finnish miner Talvivaara was
handed a suspended eight month sentence on Friday after a court ruled the
company gave investors unrealistic forecasts for nickel production. -
