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Friday, May 29
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$5.81/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 for a second day on Thursday and now total
just under the 464,350 tonne level. Weak support held at $5.71/lb yesterday
and so far, does not appear to be under threat for a second test today. Traders
are watching US GDP figures today, which could affect the strength of the
US Dollar againt the Euro. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.15/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Billionaire Potanin’s ex-wife’s claim to his property set for July
1 -
more
LME Ni
Inventory Exceeds 450,000 Tons = Sporadic large increase continues, and
increasing trend is seen in Europe and Southeast Asia = LME nickel inventory
made a record of 455,790 tons at the time of trade closing on May 21 (= at
the time of trade opening on May 22), which updated an all-time high. -
more
Japan
ferrochrome: Prices fall to 82-83 cents/lb after six stable weeks - Platts
assessed spot import price of high carbon ferrochrome into Japan at 82 cents-83
cents/lb CIF Japan Friday, down from 83 cents-84 cents/lb CIF for the last
six weeks. -
more
President
Jokowi visits - Accompanied by First Lady Iriana, President Joko "Jokowi"
Widodo and his entourage arrived at Mutiara Sis Aljufri Airport in Palu,
Central Sulawesi, at 9:09 a.m. local time on Friday for a two-day working
visit.-
more
Miners forced to dig deep for buyers - Miners across the world want to sell
off their mines, but they have a problem: almost no one wants to buy them.
-
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, May 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$5.76/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses slipped on Wednesday and now total just over the
464,600 tonne level. Base metals are benefiting from a weaker US Dollar this
morning, with nickel lagging and losing earlier momentum. Nickel is testing
weak support this morning, with strong support at $5.56/lb.
Average price of cash nickel so far this month - $6.17/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) US steel imports fell to a 13-month low of 3.2 Mt in April, down 7%
year-on-year, according to preliminary trade data from the US Census Bureau.
However, combined imports for the first four months of 2015 were still up
12% on the same period in 2014, at 13.7 Mt. -
more
World supply chains under most threat from economic risk -
more
Dollar momentum wanes, China stocks take heavy tumble -
more
"Cautious
optimism" abounds in Asia commodities: Russell - There appears to be an outbreak
of "cautious optimism" in the Asian commodities sector. -
more
Chine
ferrochrome: Domestic spot price wait for steelmakers' June purchase prices
- The domestic spot price of 50% Cr Chinese high-carbon ferrochrome was assessed
at Yuan 6,350-6,500/mt (equivalent to 78-80 cents/lb) -- including 17% VAT
and delivery -- on Wednesday, unchanged from a week ago, as the market waited
for major Chinese stainless steelmakers to settle their June purchase prices.
-
more
Vale Long
Harbour nickel plant gets first shipment from Voisey's Bay - Vale's nickel
processing plant in Long Harbour received its first major shipment from its
Labrador mine in Voisey's Bay Monday. -
more
New
Caledonia's Vale hopes to end losses - The head of the Vale New Caledonia
mining company says this year it may move out of the red for the first time
since the seven-billion US dollar plant's launch. -
more
Jokowi
to inaugurate smelter - President Joko “Jokowi” Widodo is scheduled
to inaugurate a smelter, or a concentrate purification facility, developed
by nickel miner PT Sulawesi Mining Investment (SMI) in Morowali regency,
Central Sulawesi, on Friday. -
more
2 sentenced
in theft of $1M in nickel briquettes - Two men have been sentenced
in the theft of $1 million in nickel briquettes which were imported through
the Port of Baltimore. -
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, May 27
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$5.78/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.02/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, starting
today's session at 465,624 tonnes. Total stocks have risen by 20,868 tonnes
this month, after rising 13,812 tonnes in April, 5,130 tonnes in March, and
only 2,436 tonnes in February. And still, analysts and mines predict that
world nickel production will begin to fall below demand levels any day now.
We would suggest strongly against holding your breathe, as this fairy tale
has been making the rounds since Indonesia started its nickel ore export
ban - about 17 months ago. The old saying that even a stopped clock is right
twice a day has yet to prove true for the purveyors of gloom.
Average price of cash nickel so far this month - $6.20/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Global stainless market dominated by Far Eastern players - Markus Moll, managing
director of Steel & Metals Market Research of Austria, speaking at the
recent World Recycling Convention and Exhibition in Dubai, organised by the
Bureau of International Recycling, told delegates that 18/8 stainless steel
scrap availability was growing faster over the period 1980 to 2020 than 300
series stainless steel production – the former by 4.6% per annum and
the latter by 4%. -
more
BIR Stainless
Steel World Mirror May 2015 - Global: The following article is based on the
latest Stainless Steel & Special Alloys World Mirror produced by the
BIR world recycling organisation for the benefit of its members. -
more
Prices of
CR Ferritic Stainless Sheets in Asia Collapse - According to a source, prices
of cold-rolled (CR) ferritic stainless steel sheets are on downward trend
in the Asian region. -
more
Influence
Indonesian Export Ban on Nickel Price Short-Lived - At the start of 2014
Indonesia introduced its long-planned export ban on raw mineral ores in a
bid to strengthen the domestic economy by reducing its dependence on raw
commodity exports and instead forcing miners to process their raw ores
domestically before exporting is allowed. -
more
The International
Stainless Steel Forum (ISSF) has launched a number of new publications during
the organisation’s 19th conference (ISSF-19) which is being held in
Hong Kong on 20 and 21 May. - The following brochures were published during
ISSF-19: -
more
Courtesy AISI
- In the week ending May 23, 2015, domestic raw steel production was 1,732,000
net tons while the capability utilization rate was 73.3 percent. Production
was 1,860,000 net tons in the week ending May 23, 2014 while the capability
utilization then was 77.3 percent. The current week production represents
a 6.9 percent decrease from the same period in the previous year. Production
for the week ending May 23, 2015 is up 1.6 percent from the previous week
ending May 16, 2015 when production was 1,705,000 net tons and the rate of
capability utilization was 72.1 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
Tuesday, May 26
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$5.80/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.06/lb
lower, with other
London traded base metals trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses rose by fifth consecutive session, and
by a second staggering figure. Stockpiles grew by 8,922 tonnes on Thursday,
and another 8,010 tonnes on Friday. Since our last entry on Thursday, stockpiles
have grown by 16,932 tonnes and today's new record high reading stands at
463,800 tonnes. Shanghai Metals Market reports nickel ore stockpiles at major
Chinese ports rose for a third consecutive week last week, and are now back
to where they were the last week of February. Nickel made an early run at
technical resistance of $5.89/lb this morning, but was unable to hold. Nickel
is feeling the pressure of a stronger US Dollar today as the market begins
to bet Greece will not be able to make its debt repayment next month, with
the Euro trading lower. Australia's Mincor is threatening to cut output if
the price continues to trade at current prices. US stainless steel producers
have raised surcharges for June purchases
(here).
Average price of cash nickel so far this month - $6.23/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
BIR CONVENTION: Raising the floor - Although stainless steel scrap prices
have languished, conditions may soon be in place to produce a modest rally.
-
more
China Nickel
Imports and Exports Data April 2015 - The General Administration of China
Customs released data of China's April imports and exports of nickel on May.22
(Unit: mt) -
more
Australia's
Mincor warns of output cut unless nickel price turns - Shares in Australia's
Mincor Resources dropped more than 3 percent to a three-week low on Tuesday
after the nickel miner said it was considering production cuts due to persistent
low prices for the steel-making metal. -
more
Commodity
Watch: Influence Indonesian Export Ban on Nickel Price Short-Lived - At the
start of 2014 Indonesia introduced its long-planned export ban on raw mineral
ores in a bid to strengthen the domestic economy by reducing its dependence
on raw commodity exports and instead forcing miners to process their raw
ores domestically before exporting is allowed -
more
Nickel
may be dazzling but the Bollie’s still on ice - Independence chief Peter
Bradford leaves no room for ambiguity when it comes to the goldminer’s
motivation for its $2.7 billion pitch to nickel dazzler Sirius. -
more
April 2015
crude steel production - World crude steel production for the 65 countries
reporting to the World Steel Association (worldsteel) was 135 million tonnes
(Mt) in April 2015, a -1.7% decrease compared to April 2014. -
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, May 21
Markets
in the US are closed on Monday for Memorial Day, and we will be traveling
on Friday. Our next update will be on Tuesday, the 26th. Have a safe and
relaxing weekend.
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$5.93/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses gained just slightly on Wednesday, but
any addition when you are already at record levels, establishes a new record
high. Today we started with 446,868 tonnes. The Euro is higher this morning,
which gives metals a boost, but initial PMI numbers that have been released,
are less than encouraging, which is putting negative pressure on metals.
Market news is generally quiet as the US readies itself for a long holiday
weekend.
Average price of cash nickel so far this month - $6.29/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Macquarie metals analyst Vivienne Lloyd - "You are beginning to see
nickel pig iron production coming down and a stabilisation in ore prices,
if not a lift, but we need stronger signals that raw material constraints
have arrived....We need to see nickel ore prices ticking up in China, that's
what traders and funds are looking for."
LME working
on linking with commodity exchanges in China, but process not simple - The
London Metal Exchange (LME) is in detailed talks with mainland authorities
to create direct trading links with domestic commodity exchanges that would
emulate the Shanghai-Hong Kong Stock Connect. -
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, May 20
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$5.88/lb. Indicators
at 6:30 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 rose to a new record hih on Tuesday and now total
446,640 tonnes. The Euro is again down on fears Greece may not meet its IMF
loan payment, and this is dragging down metals. For the first time since
late April, nickel is trading below its 20 and 50 day moving average, and
has fallen thru support levels.
Average price of cash nickel so far this month - $6.32/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Sherritt Reports Fatality at the Ambatovy Joint Venture -
more
Mwana Africa - Chinese shareholder ups stake -
more
Euro slides as Greek IMF repayment in doubt -
more
Deficit, surplus or balance: What are the real fundamentals of the global
nickel market? - Global nickel market fundamentals have been troubling analysts
recently with the market constantly forecast to be about to enter a significant
deficit. -
more
Indonesia
aims 11.8m tonnes processed nickel output in 2015 - Indonesia's Energy and
Mineral Resources (ESDM) Ministry is hoping the country will produce up to
11.8 million tonnes of domestically processed nickel ore in 2015. -
more
LME says
develops improved warehouse receipt system - The London Metal Exchange
said it has developed a new warehouse receipt system with a partner, which
it intends to roll out globally and that could help advance its long held
ambition to open warehouses in mainland China. -
more
Regency
Mines Inks Collaborative Nickel Development Deal In Australia - Regency Mines
PLC Wednesday said it has reached agreements with the holders of adjacent
nickel tenements to the company's Munglinup tenements in Western Australia
to consolidate the area and develop it together. -
more
Courtesy AISI
- In the week ending May 16, 2015, domestic raw steel production was 1,705,000
net tons while the capability utilization rate was 72.1 percent. Production
was 1,860,000 net tons in the week ending May 16, 2014 while the capability
utilization then was 77.3 percent. The current week production represents
a 8.3 percent decrease from the same period in the previous year. Production
for the week ending May 16, 2015 is up 2.4 percent from the previous week
ending May 9, 2015 when production was 1,665,000 net tons and the rate of
capability utilization was 70.4 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, May 19
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.22/lb
. Indicators
at 6:30 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 a new record high on Monday, and now total
444,936 tonnes. The Euro began trading lower yesterday, and base metals are
feeling the negative pressure, especially nickel. Norilsk's comment that
the turn around in the supply surplus would end over the 'next couple of
years' isn't' helping build confidence in nickel either. Everyone has an
opinion on when the current surplus situation in nickel production will come
to an end, and so far, all of these forecasts have been wrong. Eventually,
the surplus will end, as they always do. When, and how severe it might be,
has yet to happen, and shows no real evidence of happening anytime soon.
Average price of cash nickel so far this month - $6.35/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) Russia’s stainless steel exports plunge in Jan-Apr
(SSY) EU steel exports rose to a five-month high of 2.5 Mt in March, up 8%
year-on-year, according to data from Eurofer, the European Steel Association.
Exports in the 1q15 totalled 6.5 Mt, up 1% on the same period in 2014.
BHP Billiton warns against inquiry in iron ore industry by Australia would
turn off China -
more
LME nickel
inventories at 'turning point': Norilsk Nickel - Russian metal producer Norilsk
Nickel said Monday it expects high LME nickel inventories to be at a 'turning
point' with a likely decrease in the near term. -
more
World's Biggest
Nickel Producer Sees Prices Up on Chinese Demand - The world's biggest nickel
producer, Norilsk Nickel, sees nickel prices moving off six-year-lows on
the back of strong Chinese demand, the company's deputy chief executive,
Pavel Fedorov, said on Monday. -
more
Sumitomo
Metal to buy 79 per cent nickel ore from New Caledonia in 2015 - Sumitomo
Metal Mining Co, Japan's No. 2 ferronickel smelter, plans to procure 79 percent
of nickel ore from New Caledonia and the rest from Philippines in the fiscal
year to March 2016, its President Yoshiaki Nakazato said on Tuesday. -
more
LME launches
LMEapp in Chinese - The London Metal Exchange (LME) has launched a Chinese
language version of the LMEapp, the exchange’s smartphone application
providing metals data and tools. -
more
Bloomberg:
Russia's richest billionaire says sanctions impact waning - Vladimir
Potanin, who heads Russia's biggest miner, says international investors are
coming back to the country -
more
Why China Holds the Key to the Nickel Market -
video here
Nickel Compounds explained in new publication from the Nickel Institute -
The Nickel Institute has published Nickel Compounds - the inside story, a
free 16-page guide to nickel compounds written for non-specialists by industry
experts. -
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, May 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.29/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stored in LME
approved warehouses fell on Friday and ended last week just over the 443,600
tonne level. We don't expect much from nickel this week, unless Greece comes
to some sort of agreement with creditors. As the nation threatens
a possible default again, we see the Euro suffering, which puts negative
pressure on base metal prices. We are already seeing this today, although
nickel is showing some resilience.
Average price of cash nickel so far this month - $6.36/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) Jinchuan Group cut ex-works prices of nickel to 108,000 per tonne on
May 18, Shanghai Metals Market learns.The price was down 1,500 yuan from
the 109,500 yuan mark on May 13.
(CRU) CRU's Molybdenum Monitor, published Friday 15th May 2015, reports that
Molybdenum prices continued to fall in April, further squeezing conversion
margins. CRU Consultant Mireille Botros writes "this is largely attributed
to the general oversupply of FeMo units that are dragging down prices."
(CRU) CRU's Nickel Monitor, published Friday 15th May 2015, reports
that prices have lost some of its recent gains to trade back below the $14,000/t.
CRU Consultant Nikhil Shah writes "the rally in LME nickel prices was driven
more by short-covering than any improvement in the fundamental picture and
thus prices have lost some of its upward momentum".
(CRU) CRU's Chrome Monitor, published Friday 15th May 2015, reports that
Chinese ferrochrome supply, which has been constrained, is starting to rise
again. CRU consultant Mark Beveridge writes "at the same time, output in
South Africa has been strong so far this year and CRU understands producers
have been willing of late to cut export prices to China."
Widodo Taps Regional Commodities to Attract Investors -
more
Greece Remains Defiant as It Seeks Creditor Deal This Week -
more
The metal
that brought you cheap flights - It made the age of cheap foreign holidays
possible, and for years it was what made margarine spreadable. Nickel may
not be the flashiest metal but modern life would be very different without
it. -
more
2014 Ni
Production and Sales volumes by Sumitomo Metal Mining = Production is 80,471
tons, up by 12% from prior year = On May 12, Sumitomo Metal Mining Co., Ltd.
announced its consolidated settlement of accounts in the fiscal year 2014
(from 1 April 2014 to 31 March 2015). -
more
Norilsk
Nickel to focus on the development of deposit with metal reserves for $1
trillion - Norilsk Nickel, one of the world's largest producers of nickel,
palladium, platinum and copper, will focus on the development of existing
Talnakh deposit in the Taymyr Peninsula with metal reserves estimated at
$881mln. -
more
Russia's VTB bank offers $1 bln credit line to Norilsk -
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, May 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.28/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.03/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel rose
for a third day on Thursday and now total just over the 444,300 tonne level.
Nickel's sideway pattern continues with little news to add positive momentum.
Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.38/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters) Rising production costs will put a floor under nickel prices, but
expectations of significant gains this year are likely to be thwarted by
lacklustre demand from China's stainless steel mills and high inventories.Nickel
production costs in top consumer China have been climbing since April due
to higher energy prices, while the dollar's losses since mid-April have also
raised costs of raw materials for smelters.
Indonesia trade surplus shrinks in April on lower commodity prices -
more
U.S. confirms duties on imported steel nails -
more
The Driver
Behind the Nickel Bull - There’s no doubt that I’m bullish
nickel… A large part of my N3 Eclipse report focussed on rising geopolitical
conflict. -
more
April Results
Mirror February - U.S. shipments of steel products decreased year over year
in April and aluminum shipments were essentially flat. -
more
US Nickel scrap
exports rebound in March - The latest statistics released by the US Department
of Commerce (DOC) indicates that the country’s Nickel scrap exports
increased sharply by 24.9% in March this year when compared with the previous
month. However, the average export price of nickel scrap declined in comparison
with the previous month. -
more
$40m sought
for Munali Nickel - United Kingdom-based Consolidated Nickel Mines plans
to raise US$40 million on the Toronto Stock Exchange to resume operations
at Munali Nickel Mine project in Southern Province. -
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, May 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.35/lb
. Indicators
at 6:30 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 rose on Wednesday and now total just over
the 443,350 tonne level. Nickel is continuing its sideways rangebound trading
that we have experienced during May. The Euro continue to climb from its
recent mid April dip and this adds positive momentum to base metals trading.
Average price of cash nickel so far this month - $6.39/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) China's crude steel output fell 0.7% year-on-year in April to 68.9
Mt, according to National Bureau of Statistics data. In the first four months
of 2015 Chinese steel output was down 1.3% on the same period in 2014, at
270.1 Mt.
Sumitomo
Metal sees nickel market swinging into deficit in 2015 - Sumitomo Metal Mining
Co, Japan's biggest nickel smelter, expects nickel supplies to swing into
a deficit of 5,000 tonnes in 2015, the first shortfall in five years, due
to lower output of nickel pig iron (NPI) by China. -
more
Nickel
Smelting and Refining: A Long Road Ahead for Indonesia - When Indonesia placed
export restrictions on nickel ore early last year, the plan was to encourage
the country’s mining firms to develop their own smelting and processing
facilities so that Indonesia could export refined ores and concentrates,
which are worth more in the market than raw ones. -
more
Glencore,
Barrick set to sell Tanzanian nickel project - Resources titans, Glencore
and Barrick Gold are poised to dispose of their joint nickel expansion scheme
in Tanzania, one of east Africa’s fastest-growing economies. -
more
Sherritt
brings discipline to the business - At its annual general meeting in Toronto
today, Sherritt International Corp. Chairman Harold (Hap) Stephen dismissed
criticisms from a disgruntled shareholder about the nickel producer’s
languishing share price and claims that management “needed new blood.”
-
more
Russia Stainless
Steel Imports fell 27.1% - According to Spetsstal’s appraisal, imports
of stainless steel to Russia in the first quarter of 2015, if compared to
the same period of 2014, fell 21.4% to 44,198 tons. -
more
China steel
consumption likely to fall six percent this year - CISA - China's steel
consumption will likely fall 6 percent this year, an industry official from
the country said on Thursday, underlining how a slowdown in the world's No.
2 economy will continue to hurt industrial demand. -
more
Charles
Li Direct - LME Week Asia is right around the corner, so I want to turn my
attention to our commodities business. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, May 13
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.49/lb. Indicators at
6:30 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses rose on Monday and now total just shy of
the 441,050 tonne level. Nickel has entered another one of those sideways
zones as traders try to determine where the next trend will take pricing.
Technically speaking, nickel received a positive signal late last, and early
this week. Fundamentally, one really has to squint their eyes and cross them,
to create a situation where the excess supply of nickel does not matter.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Global Industrial Fastener Demand to Reach US$104 Billion in 2020 -
more
Nickel
Continues To Rebound As Analysts Remain Hopeful For Bull Market - Despite
sliding slightly in the past two days, nickel remains a major player in the
commodities market after China cut interest rates for the third time in six
months following a decrease in the nation's imports and exports. The metal
climbed as much as 2.4 percent last week before falling by 1.5 percent this
week. -
more
Outlook for
new steel orders weakens - The outlook for new steel orders in China in May
weakened from April despite hopes of higher prices for flat steel products,
according to the latest survey by global metals information provider Platts.
-
more
Base metals
likely to trade mixed in May: Angel - For May’15, base metal prices
are likely to trade mixed as consistent weak economic data from China along
with rising expectations of delay in interest rate hike by the US will be
supportive, the latest report by Angel Commodities said. -
more
Mirabela
Nickel Limited - Plant & Port Update - Mirabela Nickel Limited advises
that on 12 May 2015 Mirabela's Brazilian subsidiary Mirabela
Mineração do Brasil Ltda (Mirabela Brazil) received notice
from the Ministry of Labour that the stop work order in respect of the operation
of the plant at the Santa Rita Mine was lifted. Plant operations have now
returned to normal. -
more
Sirius
close to second nickel supply pact - Australia's Sirius Resources is close
to reaching a commercial agreement to supply up to 13 000 tons of nickel
concentrate annually from a nickel and copper mine under development in Western
Australia state. -
more
23
mining firm staff seized in Surigao - Twenty heavily armed Bagani tribesmen
held 23 employees of a mining firm hostage in Barangay Babuyan, Carrascal,
Surigao del Sur Monday. -
more
Mining
Companies in Philippines Face Many Travails - The island’s name means
“gold mine” in Spanish, but it was nickel that was ultimately found
in the mountains of Mindoro two decades ago. -
more
Mining and Modernity in Isolated Philippine Community - On the island of
Mindoro in the Philippines, a tribe contemplates the impact a proposed nickel
mine will have on its way of life. -
video
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, May 12
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$6.47/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 higher. Stockpiles of nickel stored
in LME approved warehouses fell sharply on Monday and now total just over
the 440,000 tonne level. Nickel closed above the $6.44/lb level for a second
consecutive day yesterday, which sends a bullish technical signal. This follows
a negative technical signal last week. The Euro is up sharply this morning,
and nickel has yet to benefit from this, while other base metals are. The
traded price of nickel is about to where it was trading in early March, and
is only $1000 per tonne from a new high for the year.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) Inbound shipments of Philippine’s nickel ore to the Port of Yangjiang
in Guangdong province totaled 703,000 tonnes in April, up 12-fold month-on-month,
southcn.com reported.
(SSY) Daily crude steel output at China Iron and Steel Association member
mills rose to its highest level since early October 2014 in the last 10 days
of April at 1.790 Mt, according to data from the industry association published
by SteelFirst. This compares with 1.723 Mt/day in the period 11-20 April.
BHP cuts production costs in response to metal price dive -
more
Nickel
overshadows European stainless steel market dynamics: Damstahl - Market dynamics
in the European stainless steel market are "overshadowed by weak nickel prices
but with longer delivery times as a positive sign," German stainless distributor
Damstahl said Monday in its latest market report.-
more
Platts China
Steel Sentiment Index Dipped in May - The outlook for new steel orders in
China over May weakened from April despite expectations of higher prices
for flat steel products, according to the latest Platts China Steel Sentiment
Index (Platts CSSI), which showed a headline reading of 68.2 out of a possible
100 points in May. -
more
Courtesy AISI
- In the week ending May 9, 2015, domestic raw steel production was 1,665,000
net tons while the capability utilization rate was 70.4 percent. Production
was 1,860,000 net tons in the week ending May 9, 2014 while the capability
utilization then was 77.3 percent. The current week production represents
a 10.5 percent decrease from the same period in the previous year. Production
for the week ending May 9, 2015 is down 2.7 percent from the previous week
ending May 2, 2015 when production was 1,712,000 net tons and the rate of
capability utilization was 72.4 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, May 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.50/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading
flat, with other
London traded base metals trading mostly lower. Stockpiles of nickel stored
in LME licensed warehouses rose on Friday and started this week just over
the 442,800 tonne level. In an unusual twist, SMM is reporting stockpiles
of nickel ore at five major Chinese ports actually rose last week by 200,000,
to total 10.65 million tonnes. China dropped its interest rate for the third
time in six months over the weekend, in hopes of kick starting the sputtering
Chinese economy. The Euro is down as Greece debt talks ramp up, and the US
Dollar is up on strong employment numbers. Nickel closed over resistance
on Friday and another close above $6.44/lb today could signal further price
increases. This is only a technical signal and last weeks signal has so far
failed to materialize.
Average price of cash nickel so far this month - $6.38/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) Jinchuan Group raised ex-works prices of nickel to 110,000 per tonne
on May 8, Shanghai Metals Market learns.
Sierra Rutile Hires Norilsk Nickel's Australia Boss As Operating Chief -
more
Asia’s
Stalling Exports Make the Case for Stimulus - A slew of recent data across
Asia is underlining how one of the world’s major economic engines is
sputtering, raising the likelihood of further interest rate cuts and public
spending to support growth. -
more
Market Trend
of Import of Ferroalloy as of 30 April 2015 = Manganese metal marks new record
low since 2006 = The market trend of import of ferroalloy as of 30 April
2015 is as follows. -
more
China's Jiuquan
Steel chairman under investigation for disciplinary violations - The chairman
of state-owned Jiuquan Iron & Steel Group is being probed for "serious
disciplinary violations", China's corruption watchdog said, in further evidence
that the government has intensified its crackdown on graft in the sector.
-
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, May 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.42/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading
flat, with other
London traded base metals trading quietly as well. Stockpiles of nickel stored
in LME approved warehouses fell for a fifth consecutive session and now total
just under the 441,200 tonne level. Nickel opened bullishly, up $.12/lb at
one point earlier in the trading session, but have since lost momentum. The
line of resistance at $6.44/lb is still holding, but the bulls aren't done
testing it. This is risky because continuous failures could trigger a sell
signal, with a steep drop in prices following. Andy Home from Reuters has
an interesting read below. And a Happy Birthday to North American Stainless!
Another week goes into the history books and we start clean on Monday. Have
a safe and relaxing weekend.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
U.S. Fastener Imports and Exports Both Jump in March -
more
Nickel bulls' focus on LME stocks a risky strategy: Andy Home - For the nickel
market, it's a case of once bitten, twice shy. Analysts are finding ever
more evidence that the Indonesian ban on nickel ore exports introduced at
the start of 2014 is finally starting to impact China's massive nickel pig
iron (NPI) sector. -
more
Shanghai
Exchange Seeks Foreign Nickel to Help Ease Shortage - The Shanghai Futures
Exchange plans to allow delivery of foreign-made nickel into its futures
contracts as it seeks relief from a shortage of domestic supply to the bourse.
-
more
Metal
Traders See Silver Lining In China Trade Data - China’s weak trade data
is likely to prompt the government to introduce economic stimulus measures
that may support demand for most industrial metals and other commodities,
analysts said Friday. -
more
Nickel Stocks
Offer the Biggest Potential Profits in 2015 - The 21st century will see emerging
markets dominate the world. Incredibly, emerging markets already contribute
half of the world’s GDP — a portion which will only increase. -
more
March 2015
Steel Exports - Steel exports inched up in March, as the North American neighbors
of the United States increased their purchases of American steel and the
European Union nations cut back on theirs. -
more
NAS Celebrates
25 Years - North American Stainless (Acerinox Group) celebrated its 25 years
in the US stainless steel market with festivities at its Ghent, Kentucky
mill on May 5 and 6. -
more
New Allegheny
Technologies plant project is rolling along - Allegheny Technologies Inc.
on Thursday provided the first look inside its new hot-rolling mill in Harrison,
touting the state-of-the-art steel processing facility as a long-term commitment
to the region that will allow the company to broaden its markets and better
compete with domestic and foreign steel producers. -
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, May 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.34/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading mixed. Stockpiles of nickel stored in LME
approved warehouses fell for a fourth consecutive sessions and now total
just under the 442,450 tonne level. Resistance at $6.44/lb held yesterday
and now technically speaking, nickel's short term trend turns sideways to/or
lower. That is based strictly on a technical signal. The average price of
cash nickel is $.61/lb higher today than it was at the beginning of April.
Stainless prices are shadowing.
Average price of cash nickel so far this month - $6.40/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Fall
in copper and nickel production impacts merged mining and commodity giant
Glencore - Mining and commodity trading giant Glencore disappointed investors
today with a weaker than expected first quarter update as copper and nickel
production fell below expectations. -
more
Norilsk
Nickel Jumps on Metal Price Outlook as Russia ADRs Gain - OAO GMK Norilsk
Nickel rallied, helping drive a gain in U.S.-traded Russian stocks, amid
speculation that prices for the metal will continue their rebound from a
six-year low as stockpiles fell from a record high. -
more
Sherritt
Announces April Production Update on Ambatovy Nickel Operation - Sherritt
International Corporation ("Sherritt" or the "Corporation") (TSX: S) announced
today the April 2015 operational results for the Ambatovy Joint Venture.
-
more
Iron Ore
Trade Boom Shows China Bid for Commodities Clout - China’s bid for greater
influence over commodity prices is intensifying as record trade in its iron
ore futures dwarfs its nearest rivals. -
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, May 6
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$6.46/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading lower. Stockpiles of nickel stored in LME
approved warehouses fell for a third session on Tuesday and now total just
under the 444,000 tonne level. Nickel closed above resistance at $6.44/lb
yesterday and another close above this point could send a technical signal
of more gains to come. The recent strength in the Euro is starting to waver
although the US Dollar is still faltering. Yesterday's export numbers for
the US were very concerning, while Greece's financial problems will return
to the headlines in the next few weeks.
Average price of cash nickel so far this month - $6.33/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) Jinchuan Group Raises nickel prices for Fourth Day to 108,000 yuan
China
ferrochrome: Domestic price stays flat amid expected downward pressure -
The domestic spot price of 50% Cr Chinese high-carbon ferrochrome was assessed
unchanged week on week Wednesday at Yuan 6,400-Yuan 6,600/mt (equivalent
to 78.8-81.3 cents/lb) including 17% VAT and delivery costs. -
more
Nickel
Asia sees record 2015 sales - Nickel Asia Corp., the Philippines’ biggest
nickel miner by output and sales, said it was confident of sales this year
exceeding the record-high volume in 2014 as the monsoon season in the
country’s south where it operates ended earlier than usual. -
more
Philippines' Agata Mining cuts May nickel ore exports due to weak prices,
demand - Nickel miner Agata Mining Ventures Inc (AMVI), partly owned by Canada's
TVI Pacific Inc, has cancelled three of four ore shipments due to be exported
in May from its mine in the Philippines, TVI said, citing depressed prices
and low demand. -
more
The journey
south: South32 open to acquisitions after BHP Billiton breakaway - Newly
formed mining and metals group South32 is open to acquisitions once it breaks
from BHP Billiton , its CEO-elect Graham Kerr said on Wednesday. -
more
Italy amends
migration rules for stainless steel cutting implements - Changes to Italy's
rules on the testing conditions for measuring the migration of chromium,
nickel and manganese for stainless steel dining cutting implements have been
notified to the European Commission. -
more
Courtesy AISI
- In the week ending May 2, 2015, domestic raw steel production was 1,712,000
net tons while the capability utilization rate was 72.4 percent. Production
was 1,841,000 net tons in the week ending May 2, 2014 while the capability
utilization then was 76.6 percent. The current week production represents
a 7.0 percent decrease from the same period in the previous year. Production
for the week ending May 2, 2015 is up 0.3 percent from the previous week
ending April 25, 2015 when production was 1,707,000 net tons and the rate
of capability utilization was 72.2 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
Tuesday, May 5
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$6.24/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.15/lb
higher with other London
traded base metals trading mostly higher, but much quieter than nickel.
Stockpiles of nickel stored in LME warehouses fell for a second day on Friday,
and now total just over the 444,000 tonne level. Shanghai Metals Markets
report nickel ore inventories at five major Chinese ports fell by 200,000
tons last week, and now total 10.45 million tons. This is down from 13.65
million tons that was reported on January 2nd of this year, and 15.24 million
tons reported six months ago today. LME stockpiles, on the other hand, are
about 70% higher than they were in January 2014, when Indonesia began their
ore ban. The Cerro Matoso strike has ended, so the media is trying to figure
out what is to blame for the continuing increase in nickel prices. Long time
market traders will tell you to follow the trend, which for nickel, has turned
positive for the short term. In our opinion the most immediate threat to
higher nickel prices would be the return of Greece's financial problems to
the headlines, which in turn could hurt the Euro, making nickel more expensive
to trade. In the mean time, the US Dollar has fallen in recent weeks against
the Euro and we are seeing that in commodity prices.
Average price of cash nickel so far this month - $6.24/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Xinhua) China produced less steel in the first quarter of 2015 as
demand shrank amid a slowing economy and government moves to overhaul the
saturated sector, new data showed on April 29. Output of crude steel slipped
1.7 percent from a year ago to 200.1 million tons in the January-March period,
accounting for slightly more than half of the world's total, according to
the data from the China Iron and Steel Association (CISA).
TVI's Philippine Affiliate JV Completes Three Shipments of Nickel Ore in
April 2015 and Modifies Shipment Schedule at the Agata Nickel Laterite Project
-
more
(MW) Miners have ended a two-week long strike at the Cerro Matoso nickel
mine in Colombia, after reaching agreement on a dispute that had force BHP
Billiton to declare force majeure earlier this week, the company said on
Friday.
(SMM) Jinchuan Group Raises nickel prices to 105,500 yuan on May 5
Indonesia Growth Slows to More Than Five-Year Low -
more
BHP’s South32 has a big plus: China’s isn’t its chief customer,
India is -
more
Base
metals at four-month high on Chinese stimulus hope - Base metals hit a four-month
high on Friday following seasonal demand and expectations of economic stimulus
measures in the world's largest consumer, China -
more
Promising signs for most grades - The nonferrous market in Europe may be
finding some solid footing, which could be good news for overall health of
most nonferrous metals markets there.-
more
Philippine
Nickel is Abundant but Never Sufficient - For economic analyst Alexander
Davis, there’s no reason to doubt that the Philippines, now the largest
producer and supplier of laterite nickel ore in the world, will fail to meet
the growing demand coming from China. -
more
Glencore
Production Up On Year, But Parts Down On Quarter - Glencore PLC Tuesday said
production grew year-on-year across all of its commodities in the first quarter
of 2015 apart from lead, but some segments saw production fall from the previous
quarter as the company experienced weaker commodity prices overall. -
more
Zimbabwe:
'I Want Credible Refinery Plans' - Mines and Mining Development Minister
Walter Chidhakwa has demanded a credible and compact presentation on platinum
miners' plans to set up a platinum refinery in the country.Minister Chidhakwa
said yesterday that he was still awaiting a detailed account of the platinum
refinery plans from the miners showing the amount to be invested and the
dates on which they will be implemented. -
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, May 1
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Thursday's trading session at
$6.33/lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mostly higher. Unable to find any current
LME stockpile numbers this morning, with much of the world on May Day holiday,
and many in London already gone for an extended weekend. London markets will
be closed Monday for a Bank Holiday. If you want to know why nickel
prices are rising, in our opinion, it has far less to do with the strike
in Columbia that the media would like you to believe, and for reasons far
less glamorous. The headline this morning reads "Euro climbs to 2-month high".
Until yesterdays spike, nickel's gains were closely shadowing the rise of
the Euro against the Dollar. We will have to follow it closely for another
few weeks, but we suspect the whole strike talk is more fluff than anything
else. Our next update will be Tuesday when the LME returns to trading. Have
a restful and relaxing weekend.
Average price of cash nickel so far this month - na
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China manufacturing business activity improves slightly in April -
more
North American
Stainless Press Release - For the month of May 2015, North American Stainless
will maintain the fuel surcharge at 22% for stainless flat and long products.
The surcharge rate is considered a maximum level for May and will be reviewed
monthly.
(source)
LME swats
a warehousing fly, but what about the tigers? Andy Home - The London Metal
Exchange (LME) has fined one of its warehousing operators, CWT Commodities
(Metals), 100,000 pounds ($149,000) for breaching information barriers with
associated trading companies. -
more
MEPS Predicts
Record Global Stainless Steel Output This Year - Worldwide total crude stainless
steel output in 2014 reached an all-time high figure of nearly 41.7 million
tonnes. -
more
Vale to
push back possible base metal division IPO - Vale says it is delaying the
timeline of a possible IPO of its base metals division after an expected
rebound in nickel prices failed to materialize. -
more
Two
hurt in New Caledonia nickel plant accident - Reports from New Caledonia
say two workers have been taken to hospital after an accident at the Vale
nickel 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
Thursday, April 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$6.12/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.15/lb
higher, with other
London treaded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to its fifth consecutive all time record
high on Wednesday and now total 444,756 tonnes. And yet again, the media
claims 'supply concerns' account for the sudden rise in nickel prices. And
maybe, just maybe, this incessant whine that the world is starting to
use more nickel than it produces will come true, but that hasn't proven true
yet since Chicken Little started proclaiming it over a year ago. But hey,
even a stopped clock gets it right eventually. The London Metal Exchange
is closed on Monday for Early Bank Holiday, and China markets are closed
tomorrow for May Day celebrations. Ahead of a long weekend for most, we are
seeing traders playing the short term trend and betting prices will be higher
when they return from their break. We will see if their gamble pays off.
Look to $6.44/lb for strong resistance.
Average price of cash nickel so far this month - $5.77/lb
Average price of LME traded nickel in 2014 - $7.65/lb / 2013 - $6.80/lb /
avg 2012 - $7.95/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SSY) Daily crude steel output at China Iron and Steel Association member
mills rose to its highest level since late February at 1.72 Mt in the period
11-20 April, according to data from the industry association reported by
SteelFirst. This is up from 1.70 Mt/day in the preceding ten days but compares
to 1.75 Mt/day for the same period in 2014.
Stainless steel business remains sluggish - Global: In line with a softer
nickel market over recent weeks, 304 stainless steel scrap prices have slid
from US$ 1340-1390 per tonne in late March to US$ 1280-1330 a month later
while 316 values have suffered under the influence of molybdenum weakness
and have dropped over the same time period from US$ 1800-1850 to US$ 1700-1750.
-
more
Indonesia
nickel smelters to see slow growth -Macquarie - Indonesia's ban on nickel
ore exports is stimulating investment in processing plants, but this will
be a slow process over the next decade, a senior analyst told a conference
on Wednesday. -
more
China's
molybdenum mining tax reform on May 1 unlikely to spur surge in exports -
China's molybdenum producers are unlikely to immediately flock back to the
export market next month following the roll-out of a new tax regime on May
1, as domestic prices are still higher than international levels, market
sources said Wednesday. -
more
New
Caledonia President Accused Of Lying About Mine Debt - There has been a sharp
rebuke for New Caledonia's president, Philippe Germain, from his predecessor
over alleged concessions for the SMSP mining company, which belongs to the
mainly Kanak northern province. -
more
World’s top nickel producer can’t mine enough to satisfy China
- The Philippines might fail to satisfy China’s nickel ore demand, which
could push up refined metal prices more than 15% -
more
Nickel
miner First Quantum Minerals slashes jobs in Ravensthorpe - A nickel mining
company in Western Australia's south has laid off 31 workers in response
to the low price for the mineral. -
more
Vale Earnings
Fall to Six-Year Low as China Steel Boom Fades - Vale SA earnings excluding
items slumped to the lowest since 2009, in line with estimates, as the
world’s largest iron-ore producer faces shrinking Chinese steel demand.
-
more
Vale's
Production Volumes of Mn Ore, FA, Ni and Co in Jan-Mar = When compared with
year-earlier period, Mn ore, Ni and Co are up and FA is down = On April 22,
Vale S. A., a major resource company in Brazil announced its production volumes
of manganese ore, ferroalloys, nickel and cobalt in the period from January
to March in 2015. -
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
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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
6:30 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 for a second day on Thursday and now total
just under the 464,350 tonne level. Weak support held at $5.71/lb yesterday
and so far, does not appear to be under threat for a second test today. Traders
are watching US GDP figures today, which could affect the strength of the
US Dollar againt the Euro. Have a safe and relaxing weekend.
Reports
Commodity/Economic Comments
LME Ni
Inventory Exceeds 450,000 Tons = Sporadic large increase continues, and
increasing trend is seen in Europe and Southeast Asia = LME nickel inventory
made a record of 455,790 tons at the time of trade closing on May 21 (= at
the time of trade opening on May 22), which updated an all-time high. -
Japan
ferrochrome: Prices fall to 82-83 cents/lb after six stable weeks - Platts
assessed spot import price of high carbon ferrochrome into Japan at 82 cents-83
cents/lb CIF Japan Friday, down from 83 cents-84 cents/lb CIF for the last
six weeks. -
President
Jokowi visits - Accompanied by First Lady Iriana, President Joko "Jokowi"
Widodo and his entourage arrived at Mutiara Sis Aljufri Airport in Palu,
Central Sulawesi, at 9:09 a.m. local time on Friday for a two-day working
visit.-
Miners forced to dig deep for buyers - Miners across the world want to sell
off their mines, but they have a problem: almost no one wants to buy them.
-
Morning Nickel
Price Statistics & Figures
"Cautious
optimism" abounds in Asia commodities: Russell - There appears to be an outbreak
of "cautious optimism" in the Asian commodities sector. -
Chine
ferrochrome: Domestic spot price wait for steelmakers' June purchase prices
- The domestic spot price of 50% Cr Chinese high-carbon ferrochrome was assessed
at Yuan 6,350-6,500/mt (equivalent to 78-80 cents/lb) -- including 17% VAT
and delivery -- on Wednesday, unchanged from a week ago, as the market waited
for major Chinese stainless steelmakers to settle their June purchase prices.
-
Vale Long
Harbour nickel plant gets first shipment from Voisey's Bay - Vale's nickel
processing plant in Long Harbour received its first major shipment from its
Labrador mine in Voisey's Bay Monday. -
New
Caledonia's Vale hopes to end losses - The head of the Vale New Caledonia
mining company says this year it may move out of the red for the first time
since the seven-billion US dollar plant's launch. -
2 sentenced
in theft of $1M in nickel briquettes - Two men have been sentenced
in the theft of $1 million in nickel briquettes which were imported through
the Port of Baltimore. -
Prices of
CR Ferritic Stainless Sheets in Asia Collapse - According to a source, prices
of cold-rolled (CR) ferritic stainless steel sheets are on downward trend
in the Asian region. -
The International
Stainless Steel Forum (ISSF) has launched a number of new publications during
the organisation’s 19th conference (ISSF-19) which is being held in
Hong Kong on 20 and 21 May. - The following brochures were published during
ISSF-19: -
Australia's
Mincor warns of output cut unless nickel price turns - Shares in Australia's
Mincor Resources dropped more than 3 percent to a three-week low on Tuesday
after the nickel miner said it was considering production cuts due to persistent
low prices for the steel-making metal. -
April 2015
crude steel production - World crude steel production for the 65 countries
reporting to the World Steel Association (worldsteel) was 135 million tonnes
(Mt) in April 2015, a -1.7% decrease compared to April 2014. -
Markets
in the US are closed on Monday for Memorial Day, and we will be traveling
on Friday. Our next update will be on Tuesday, the 26th. Have a safe and
relaxing weekend.
Bloomberg:
Russia's richest billionaire says sanctions impact waning - Vladimir
Potanin, who heads Russia's biggest miner, says international investors are
coming back to the country -
$40m sought
for Munali Nickel - United Kingdom-based Consolidated Nickel Mines plans
to raise US$40 million on the Toronto Stock Exchange to resume operations
at Munali Nickel Mine project in Southern Province. -
Glencore,
Barrick set to sell Tanzanian nickel project - Resources titans, Glencore
and Barrick Gold are poised to dispose of their joint nickel expansion scheme
in Tanzania, one of east Africa’s fastest-growing economies. -
Charles
Li Direct - LME Week Asia is right around the corner, so I want to turn my
attention to our commodities business. -
Mirabela
Nickel Limited - Plant & Port Update - Mirabela Nickel Limited advises
that on 12 May 2015 Mirabela's Brazilian subsidiary Mirabela
Mineração do Brasil Ltda (Mirabela Brazil) received notice
from the Ministry of Labour that the stop work order in respect of the operation
of the plant at the Santa Rita Mine was lifted. Plant operations have now
returned to normal. -
23
mining firm staff seized in Surigao - Twenty heavily armed Bagani tribesmen
held 23 employees of a mining firm hostage in Barangay Babuyan, Carrascal,
Surigao del Sur Monday. -
Nickel
overshadows European stainless steel market dynamics: Damstahl - Market dynamics
in the European stainless steel market are "overshadowed by weak nickel prices
but with longer delivery times as a positive sign," German stainless distributor
Damstahl said Monday in its latest market report.-
flat, with other
London traded base metals trading mostly lower. Stockpiles of nickel stored
in LME licensed warehouses rose on Friday and started this week just over
the 442,800 tonne level. In an unusual twist, SMM is reporting stockpiles
of nickel ore at five major Chinese ports actually rose last week by 200,000,
to total 10.65 million tonnes. China dropped its interest rate for the third
time in six months over the weekend, in hopes of kick starting the sputtering
Chinese economy. The Euro is down as Greece debt talks ramp up, and the US
Dollar is up on strong employment numbers. Nickel closed over resistance
on Friday and another close above $6.44/lb today could signal further price
increases. This is only a technical signal and last weeks signal has so far
failed to materialize.
Fall
in copper and nickel production impacts merged mining and commodity giant
Glencore - Mining and commodity trading giant Glencore disappointed investors
today with a weaker than expected first quarter update as copper and nickel
production fell below expectations. -
Italy amends
migration rules for stainless steel cutting implements - Changes to Italy's
rules on the testing conditions for measuring the migration of chromium,
nickel and manganese for stainless steel dining cutting implements have been
notified to the European Commission. -
Zimbabwe:
'I Want Credible Refinery Plans' - Mines and Mining Development Minister
Walter Chidhakwa has demanded a credible and compact presentation on platinum
miners' plans to set up a platinum refinery in the country.Minister Chidhakwa
said yesterday that he was still awaiting a detailed account of the platinum
refinery plans from the miners showing the amount to be invested and the
dates on which they will be implemented. -
