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Wednesday, May 31
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12PM in London)
Three month nickel closed Tuesday's trading session at
$4.13/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.10/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and now total
just under the 379,000 tonne level. Stockpile numbers are now lower for the
month, with only today left to change that statement. Chinese traders returned
to the market today and on news that Indonesia's largest nickel miner has
made its first shipment of nickel ore after that country ended an export
ban, they have driven nickel below the $9000/tonne level and nickel is in
danger of slipping below the $4/lb level. The last time nickel traded
this low was June 16 of last year, and the first half of last year was the
lowest nickel had traded since well before the price spike of 2007. In other
words, it is doubtful we will see nickel trade much low and the downside
potential is limited. $3.83/lb on May 1st, 2016 would be your traded low
for the past decade. $4.03lb is a technical line of support and that is being
tested today. Stay tuned.
Average price of cash nickel so far this month - $4.16/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
Election Jitters Hit Pound; Oil Drops Before Data: Markets Wrap -
more
Bull
run in commodities nearing end; base metals likely to lead fall - Global
commodity market started its bull run in October 2016 and the momentum shifted
in top gear after election of the US President Trump, who had promised to
stimulate the economy by spending more on infrastructure. -
more
Antam
starts exporting nickel after relaxation policy - State-owned diversified
miner PT Aneka Tambang (Antam) has started exporting its low-grade nickel,
with content below 1.7 percent, following the governments decision
to relax its mineral export ban earlier this year. -
more
China's
Steel Output Climbs Despite Cuts - Another month, another record for Chinese
steel manufacturers -
more
Buying
Sentiment Deteriorates in Emerging Steel Markets - Challenging business
conditions persist in the Russian Federation, according to MEPS. -
more
Mining sees short-lived impact, might even benefit from martial law
- The mining industry says the impact of martial law in Mindanao will be
short-lived, and business could even pick up if the islands peace and
order problems are resolved. -
more
Twin
Metals' owner has a history of environmental disaster in its homeland - Twin
Metals, a Minnesota company owned by Chilean mining titan Antofagasta Minerals,
has dreams of striking valuable copper, nickel, and platinum near Ely. -
more
Courtesy
AISI - In the week ending on May 27, 2017, domestic raw steel production
was 1,753,000 net tons while the capability utilization rate was 75.2 percent.
Production was 1,732,000 net tons in the week ending May 27, 2016 while the
capability utilization then was 74.1 percent. The current week production
represents a 1.2 percent increase from the same period in the previous year.
Production for the week ending May 27, 2017 is up 0.7 percent from the previous
week ending May 20, 2017 when production was 1,741,000 net tons and the rate
of capability utilization was 74.7 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
Tuesday, May 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.12/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 on Friday and now total
just under the 380,300 tonne level. Nickel is one of the few commodities
trading on the positive side, but showing little enthusiasm at the moment.
The US Dollar is trading higher against the Euro on Greek and Italian financial
worries. China is closed today for their Dragon Boat Festival, the London
Metal Exchange was closed yesterday for their Spring Bank Holiday and US
markets were closed for Memorial Day. Summer has unofficially begun around
the world - at least north of the equator. Guatemala mine riots, with deaths
recorded, are back in the news. The contest amongst four Canadian cities
for a new ferrochrome smelter continues. Nickel is trading dangerously close
to $4.00/lb but traders and computers are probably looking at $9000/tonne
as more important. Tomorrow is the last day of the month, so we don't expect
much to happen in the market this week.
Average price of cash nickel so far this month - $4.16/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 has lost 40% in 3 months and is now back below $60 a tonne -
more
(TJN) The S&P Global Platts China Steel Sentiment Index slumped to 33.1
this month from 45.1 in April, weighed down by the outlook for domestic steel
orders.
Europe Risks Weigh on Stocks; Crude, Gold Retreat: Markets Wrap -
more
Mining
in Indonesia: Nickel Price to Remain Under Pressure - The nickel price is
expected to remain under pressure up to (at least) the second half of 2018
due to the structural oversupply in the world market. So far this year the
nickel price has fallen 9.38 percent to USD $9,080 per ton (London Metal
Exchange). -
more
Clashes in Guatemala Mining Protest Leaves 1 Dead, 6 Injured - Opponents
of the mine argue that contamination has already impacted the local artisanal
fishing industry local families depend on. -
more
Production
of SUS Products in February 2017 Is 232,919 Tons = Down by 3% from prior
month due to decreased production of chrome-type product = The Ministry of
Economy, Trade and Industry announced the production volume of stainless
steel products (hot-rolled products) in February 2017 was 232,919 tons, which
was down by 2.8% from the prior month and down by 0.6% from the year-earlier
month. -
more
Odisha:
Ferro Alloys says closure of mines will force company to discontinue CSR
- With its two chromites mines and its two ferrochrome plants in Odisha shut
for over a month, Indian Metal and Ferro Alloys, Indias largest
fully-integrated producer of ferroalloys, Saturday said the closure will
force the company to discontinue its CSR activities in Odisha. -
more
Ferrochrome smelter opportunity gleams in eyes of Sault councillors - 'We
went from not being in consideration to being at the top of the consideration'
- Mayor Christian Provenzano on proposed ferrochrome smelter -
more
Sault Ste. Marie angling for inside track on Ring of Fire smelter -
more
DENR
starts retrieving thousands of trees felled by Palawan nickel miner - The
Department of Environment and Natural Resources (DENR) is retrieving thousands
of a mix of old-growth and secondary trees that were indiscriminately felled
by Ipilan Nickel Corp. (INC) operating in Palawan. -
more
Vale
to celebrate Stobies last skip on May 30 - On May 30, the final load
of ore a.k.a. the last skip will rise from the
depths of Stobie Mine. -
more
WA's
three richest people worth $21b combined, thanks to iron ore - Three Perth
residents were among Australia's top 10 wealthiest people, the nation's best
known rich list has revealed. -
more
Mine
health, safety icons mourned - Two men connected to the fight for better
health and safety in Ontario's mines are being remembered today. -
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 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.13/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just over the 383,800 tonne level. The week went somewhat quiet without the
Lopez drama in the Philippines and Palmer drama in Australia carrying headlines.
Someone in the Philippines figured that since Lopez was gone even if she
had successfully brought the environment to the forefront of everyone's mind,
that it was the perfect time to cut down 15,000 trees without a permit for
a new nickel mine. Can you spell 'clueless'? Here is a quote from the article
below about Duterte asking for help from Russia. Associate professor at the
Higher School of Economics Dmitry Ofitserov-Belsky to Sputnik Radio - "I
think that Russia, for example, can help the Philippines in both developing
and processing nickel ore on its own territory and that can stabilize prices
for this resource in the international market, Ofitserov-Belsky said."
There was talk when Indonesia put a ban on exports of nickel ore, that Russia
had a hand in that decision. Maybe just a story put out by those who see
a conspiracy in the mirror each morning. This si our last update for the
week. Monday is Memorial Day in the US, so our next update will be on Tuesday,
May 30th. Wish each of you a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.17/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
Steel vital to national security, industry pleads -
more
Duterte Asks Putin for 'Help and Support in Fight Against Daesh' -
more
All Eyes on Vienna as Oil Drops; Growth Hits Pound: Markets Wrap -
more
Nickel miner says unit unaffected by Mindanao martial law - Global
Ferronickel Holdings Inc. (GFNI), the Philippines's second largest nickel
miner, on Wednesday said its unit operating in Mindanao is unaffected by
the declaration of martial law in the island. -
more
April
2017 crude steel production - World crude steel production for the 67 countries
reporting to the World Steel Association (worldsteel) was 142.1 million tonnes
(Mt) in April 2017, a 5.0% increase compared to April 2016. -
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
Sacking of Philippines environmental secretary good for nickel - U.S.
economic growth is likely to be subdued this year following the Federal Reserve's
lifting of its policy rate in March, with inflation and forecast inflation
on the downside in recent months. -
more
Glencore questioned over fatalities, unions and environment - Global
commodities miner and marketer Glencore fielded a number of questions from
shareholders, trade unionists and environmentalists at its AGM in Switzerland
on Wednesday, including several about the 16 fatalities at its operations
last year. -
more
Mining firm faces looming legal battle for cutting trees in Palawan
- Environment chief Roy Cimatu assured President Rodrigo Duterte that Ipilan
Nickel Corporation (INC) will face charges if investigation into its alleged
illegal mining-related activities in Palawan province warrants so. -
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 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.24/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.09/lb
lower. Stockpiles
of nickel - well forget what we said yesterday about the month finally showing
a negative growth on stockpiles, because it lasted only a few days. Yesterday
they grew by 6,384 tonnes, and now sit just shy of the 384,800 tonne level,
Still a few thousand tonnes shy of the 2017 high, but well over the level
we saw the year, and month, start at. Moody's downgraded China's debt today, a first
for this century, and commodity markets are taking note.
Average price of cash nickel so far this month - $4.17/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
Moody's downgrades China's debt for first time in 26 years -
more
Iron and Metals Slump as Moody's Puts China's Debt in Spotlight -
more
BHP
hopes for more nickel mines in WA - Mining major BHP has confirmed that it
is pursuing environmental approvals to develop two satellite pits to support
production from its Mt Keith operation, in Western Australia. -
more
Ipilan Nickel Corp. asked to explain tree cutting spree - The Department
of Environment and Natural Resources (DENR) has given Ipilan Nickel Corp.
(INC) until Wednesday to explain why no criminal charges should be filed
against the mining company over its massive indiscriminate tree cutting in
the town of Brookes Point in Palawan province. -
more
Freight
hikes 'may hinder' stainless scrap movements - Asia: Production of
stainless steel has been at elevated levels but, if the normal business cycle
is to be followed, there will be a decline during the summer months. -
more
Japan's
chrome-moly steel demand robust despite slow car output: sources - Demand
for chrome-molybdenum alloy steel sheets, used for automotive components,
has been robust in Japan despite major automakers cutting domestic production
in the second quarter, market sources said Wednesday. -
more
Rodrigo Duterte puts Mindanao under martial law on militant clashes
- Philippine president Rodrigo Duterte cuts short trip to Russia after declaring
60-day martial law in Mindanao island after clashes between government troops
and ISIS -
more
Bidding
for Botswana's BCL Group reopened after no offer from suitor - Bidding for
BCL Group, which owns Botswana's largest copper and nickel mine, has been
reopened to other investors after an exclusivity period granted to a suitor,
Emirates Investment House (EIH) lapsed without an offer. -
more
Batteries improve air quality in underground mines - Next-generation
nickel-based technologies and the potential they hold in underground mining
-
more
Ex-wife
claims $15 billion in world's biggest divorce settlement - A Russian woman
has demanded half of her estranged ex-husband's $30 billion fortune in what
could become the world's largest divorce settlement. -
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 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.26/lb
. Indicators
at 6:10 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel store din LME approved warehouses fell on Monday and now total
just over the 378,400 tonne level. Stockpiles fell below the level they started
the month on Thursday, so the month now shows a negative growth on nickel
stockpiles. However, they remain well above April's lowest level. US stainless
steel producers published their surcharges yesterday and both 304 and 316
fell, with increased molybdenum costs not enough to offset falling nickel
prices for 316 stainless steel. We follow the monthly changes
here.
Average price of cash nickel so far this month - $4.17/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
Twitter - Commerzbank sees average 2018 copper price forecast at $5,850 per
tonne; sees 2018 nickel outlook at $10,400 per tonne
Current state of the Pacific and Indian oceans -
more
China steel hits nine-week peak amid crackdown, lifts iron ore -
more
European Stocks Gain on Solid Data; Crude Retreats: Markets Wrap -
more
ISSF Stainless Steel In Figures 2017 reports 5.8% CAGR output growth
- The Stainless Steel in Figures 2017 Report released by the
International Stainless Steel Federation (ISSF) states that stainless steel
production registered compounded annual growth rate (CAGR) of 5.8% over the
period from 1950 to 2015, which is significantly higher than other metals.
-
more
ISSF launches new publications during ISSF 21 -
more
Stainless Steel production registers a CAGR growth of 5.8% during 1950
to 2015 - The stainless steel production registered compounded annual growth
rate (CAGR) of 5.8 percent over the period from 1950 to 2015, which is
significantly higher than other metals, according to the Stainless
Steel in Figures 2017 report released by the International Stainless
Steel Federation (ISSF). -
more
BHP
eyes reboot for Mt Keith nickel operation - BHP Billitons Nickel West
division will look to extend the life of its Mt Keith operations, 100km north
of Leinster, into the 2030s with the development of the Yakabindie satellite
deposit. -
more
Botswana Clash With Billionaires Could Tarnish Its Reputation As Resource
Investor's Paradise - At first glance, there is simply no country like it
in Africa. Within the continent, Botswana is considered to be the crème
de la crème. -
more
First-hand
look at Nickel Asias open pit mining in Palawan - Open-pit mining remains
controversial in the Philippines because of its adverse impact on the
environment, but a mining plant and refinery in Bataraza, Puerto Princesa
City, says it is pursuing measures to ensure responsible mining. -
more
Ipilan
Nickel claims tree cutting operation legal - Ipilan Nickel Corp.,
a subsidiary of Global Ferronickel Inc. , on Monday said its tree-cutting
activities within its mining tenement in Palawan is compliant with environmental
laws, rules and regulations. -
more
Courtesy
AISI - In the week ending on May 20, 2017, domestic raw steel production
was 1,741,000 net tons while the capability utilization rate was 74.7 percent.
Production was 1,732,000 net tons in the week ending May 20, 2016 while the
capability utilization then was 74.1 percent. The current week production
represents a 0.5 percent increase from the same period in the previous year.
Production for the week ending May 20, 2017 is up 0.8 percent from the previous
week ending May 13, 2017 when production was 1,728,000 net tons and the rate
of capability utilization was 74.1 percent. -
more
Spare
a nickel? Russian tycoon's ex-wife demands $15bn in final divorce settlement
- The former wife of Russian billionaire and the CEO of Norilsk Nickel
Vladimir Potanin has filed a new lawsuit against her ex-husband, demanding
849.5 billion rubles ($15 billion), Forbes reports. -
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 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.25/lb
. Indicators at
6:20 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel store in LME approved warehouses fell on both Thursday and Friday
and start the week just under the 378,900 tonne level. Cancelled warrants
have risen this month and now sit just shy of the 29% reading. While business
media seems to be crediting the Chinese pollution crackdown as the reason
for the lift in nickel prices, we tend to believe it has more to do with
the US Dollar having lost nearly everything its gained against the Euro since
the Trump election. The steel crackdown is old news and tends to happen every
year about this time. The Trump administration appears to be in trouble and
its agenda has been thrown off course by the drama. US and European stainless
steel producers announce June surcharges this week, so any lift in cost last
week will help them next month. We see 304 stainless steel prices lower next
month, with an increase in molybdenum keeping the decrease on 316 in check.
Week is starting quietly and unless that changes, we expect nickel pricing
to do much the same.
Average price of cash nickel so far this month - $4.16/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
Steel Prices Rebound as China Announces New Crackdown on Emissions (May 11)
-
more
Duterte stresses PH right over Benham Rise, renames it Philippine Rise -
more
Output Bets Spur Oil; Pound Slips on Brexit Fears: Markets Wrap -
more
Global
nickel market swings into small surplus in March-INSG - The global market
for refined nickel swung into a small surplus in March after an increase
in production outpaced steady global demand, figures from the International
Nickel Study Group showed. -
more
Bearish Outlook
For Nickel - Nickel prices are falling amid expectations for renewed exports
from Indonesia and the Philippines. Brokers observe the outlook for nickel
has turned quite bearish. -
more
DENR
chief urged to close mining firm in Palawan - As a litmus test to the environment
secretary, an environmental group on Friday urged DENR chief Roy Cimatu to
close down the Ipilan mining firm for cutting some 15, 000 trees in Palawan
province. -
more
Rival
bid for BCL against EIH - A second bidder for BCL Groups assets has
emerged to rival an impending proposal from the Emirates Investment House
(EIH). -
more
Billionaire Andrew Forrest and family make largest single donation
in Australian history - Billionaire Andrew Twiggy Forrest and
his family will donate $400 million, in the biggest single philanthropic
gift by a living person in Australias history. -
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 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.15/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and now total
just over the 379,800 tonne level. Nickel gained yesterday, after news that
Vale was shutting a mine down due to low nickel prices. While this particular
mine was slatted to close anyway, as it was nearing its end of life, the
news sent a glimmer of hope that supply might become strained as prices remained
low. Today, those hopes have evaporated in light of what is happening in
Washington DC. After last weeks revelation, which one commentator said was
like no other, this week has seen three straight days of non stop and stunning
drama, making traders nervous about what might come next. Nickel is testing
support today at $9000/tonne and at the moment, technical signals remain
mostly bearish. This is our last update for the week, so we thank you for
spending a few moments of your time with us today and invite you back next
week.
Average price of cash nickel so far this month - $4.17/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China iron ore tracks rebar higher on firm steel demand outlook -
more
Flotilla of U.S. crude heads to Asia as OPEC weighs extending cuts -
more
Dow plunges as investors finally concede Trump is not the US economys
panacea -
more
Global Stocks Fall After U.S. Rout; Dollar Climbs: Markets Wrap -
more
Column -Has China flipped from bull to bear driver for metals pricing?
Andy Home - What's happened to the industrial metals complex? -
more
Bearish
Outlook For Nickel - Nickel prices are falling amid expectations for renewed
exports from Indonesia and the Philippines. Brokers observe the outlook for
nickel has turned quite bearish. -
more
Cimatu vows to clean up Laguna de Bay - Newly appointed Environment
Secretary Roy Cimatu on Thursday vowed to put priority in protecting water
resources including a cleanup of Laguna de Bay. -
more
Palawan town to sue miner for clearing forest - One of the large-scale
mining companies operating in Palawan province cut more than 15,000 trees
in Brookes Point town despite the cancellation of its environmental
clearance certificate (ECC) and the absence of permits from the local government,
local officials said. -
more
EU
Adds Nickel to Restricted List and Strengthens Chemical Safety Under Food
Contact Plastics Regulations - The European Union (EU) has published several
changes to the Food Contact Plastics Regulation. Issued on April
29, 2017, Regulation (EU) 2017/752 adds: -
more
Chamber
members hear from candidates - The Sault Ste. Marie Chamber of Commerce wants
to see its member of provincial parliament have a 'business friendly' public
policy that will help small business thrive. -
more
Clive
Palmers friends happy to write me big cheques - A cheerful
and morphine-free Clive Palmer has boasted about his wealth, claiming he
is a collector not seller of luxury assets, with a slew
of rich friends who would write him $100 million cheques on demand. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, May 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.14/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 rose on Tuesday and now total
over the 380,300 tonne level. While technical signals are still sending sell
signals, buyers aren't in any hurry to oblige this morning. Nickel is up
slightly, but activity is light. Vale is shutting a small mine in Canada
due to lower ore grades and weakening prices. In Australia, Clive Palmer
showed up to court a little healthier than the last week. Market watchers
have a weary eye on Washington, as the Presidential drama seems to have no
end.
Average price of cash nickel so far this month - $4.17/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
Caution Reigns as U.S. Politics Takes Center Stage: Markets Wrap -
more
Vale
to shutter Canadian nickel mine, causing up to 200 job losses - Vale says
it will suspend operations at its Birchtree nickel mine in Canada's Manitoba
province on Oct. 1 because of weak nickel prices and declining ore grades.
-
more
Sagaing
nickel refinery employees protest - Employees of a nickel refinery factory
in Htigyaing Township, Sagaing Region, protested against their employer on
May 16 over the dismissal of a Myanmar national employee. -
more
Nickel Production
Outlook for Philippines Steady at 2.4% Until 2021 - BMI Research, the research
arm of Fitch Group, has kept its outlook on the countrys nickel ore
production at an average of 2.4 percent from 2017 to 2021. -
more
DMCI Holdings still upbeat on 2017 despite mining uncertainty -
more
BCL
gets more time for Arab deal - Lawyers representing BCL Ltd provisional
liquidator, Nigel Dixon-Warren secured a 30-day extension of the liquidation
process at the High Court yesterday. -
more
Zimbabwe: Indian Investor to Inject U.S.$100 Million in Zimalloys -
An Indian investor is set to inject $100 million into ferrochrome producer,
ZimAlloys under an equity structure secured by judicial manager Grant Thornton
and Camelsa. -
more
Clive
Palmer fronts Queensland Nickel hearings in better spirits after days of
complaints - Clive Palmer was back to his larger-than-life self at the Federal
Court in Brisbane today, joking with liquidators, playfully responding to
journalists and replacing his now infamous sick bag with a health shake.-
more
Clive Palmer boasts of wealth after attacking cost of legal representation
-
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 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.19/lb
. Indicators
at 6:00 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Monday and now total
just over the 380,200 tonne level. The spurt last Thursday came to an abrupt
end yesterday, as nickel fell back below resistance, with all technical signals
now flashing sell. The Euro is higher and oil is up, so base metals in general
are getting some support today. Miners are trying to sell nickel filled batteries
as the next big thing for the nickel industry. And in light of the extra
supply that is facing the industry, it needs some new demand outlets quickly.
LME nickel inventories have grown every day, less two this month. Stainless
steel consumers should be seeing lower prices from earlier this year, with
more on the way. Clive Palmer is suffering from pancreatitis, but a judge
is making him testify anyway.
Average price of cash nickel so far this month - $4.18/lb
Average price of LME traded nickel in 2016 - $4.36/lb / 2015 - $5.37/lb /
2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China steel falls as record output undermines steps to curb excess -
more
Global Steel Industry Skeptical Of Chinese Oath To Push Capacity-Cut Drive
-
more
Euro Soars Amid Trump Concerns; Oil Extends Gains: Markets Wrap -
more
Glencore
Says Electric Car Boom Is Coming Faster Than Expected - Glencore Plc Chief
Executive Officer Ivan Glasenberg said the rise of electric cars will
significantly boost demand for minerals including copper and lithium in the
coming decades. -
more
Customers Remain Wait-and-see Stance for CR Austenitic Stainless Sheets
= In the East Asian region = It is in a state where there is almost no movement
of cold-rolled (CR) austenitic stainless steel sheets in the East Asian region.
-
more
The
Risk of Oversupply Spreads as Indonesia Resumes Nickel Ore Exports - Wariness
over policy changes in two major nickel producing countries, Indonesia and
the Philippines, is dragging the price of the metal down to 10-month lows.
-
more
Despite Warnings, Nickel Ore Cargo Dangers Persist - Despite years
of warnings about the risk of cargo liquefaction in shipments of bulk nickel
ore, terminals in the Philippines continue to load dangerously wet cargoes,
says leading insurer Gard. -
more
Thakadu progresses nickel beneficiation plant plans - Beneficiator
Thakadu Battery Materials has taken significant steps forward in its high-purity
battery-grade nickel sulphate plant project, which is expected to produce
up to 25 000 t/y of high-purity nickel sulphate from South Africa-focused
platinum producer Lonmins crude nickel sulphate stream. -
more
Botswana proposes debt for equity deal for troubled BCL Mine - Botswana's
government has offered its state-owned BCL Mine Ltd to the Emirates Investment
House (EIH) for a token price of $1 in a deal that will result in the Emirati
firm taking over the mine's debts, minerals minister Sadique Kebonang said.
-
more
Courtesy
AISI - In the week ending on May 13, 2017, domestic raw steel production
was 1,728,000 net tons while the capability utilization rate was 74.1 percent.
Production was 1,732,000 net tons in the week ending May 13, 2016 while the
capability utilization then was 74.1 percent. The current week production
represents a 0.2 percent decrease from the same period in the previous year.
Production for the week ending May 13, 2017 is down 0.5 percent from the
previous week ending May 6, 2017 when production was 1,737,000 net tons and
the rate of capability utilization was 74.5 percent. -
more
Clive Palmer aide likens forced court appearance to Nazi-era Germany - Former
MP arrives at Brisbane federal court holding a sickbag after being compelled
to testify about Queensland Nickel collapse -
more
Clive Palmer has history of invoking Nazi Germany defence -
more
Palmer claims privilege more than 80 times in court -
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 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.23/lb
. Indicators
at 6:25 am CST today show 3 month nickel trading around $.01/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on both Thursday and Friday
and start the week just over the 379,600 tonne level. Nickel prices have
done little since they bounced on Thursday afternoon. Technically,
we could see prices increase this week, with nickel closing above resistance
twice, but the resistance level was a weak one already, so the market may
be giving the signal little significance. The market wants to rise but an
Asian commodity analyst from Reuters, Clyde Russell, warned readers last
week that the market was facing another over supply situation. For the time,
this appears to have taken teh wind out of the bulls sails.
Average price of cash nickel so far this month - $4.18/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) CSSEA: Chinas stainless steel exports up 0.63 percent in Q1
Chinese Crude Steel production reaches record high -
more
Iron ore outlook signals a winter of discontent -
more
Oil Jumps With Commodity Currencies on Output Deal: Markets Wrap -
more
Chamber of Mines: No impact on nickel output after closure, suspension
orders - Chamber of Mines of the Philippines Legal and Policy Vice
President Ronald Recidoro said the closure and suspension orders issued against
mining operations by former environment secretary Gina Lopez had no impact
on the local production of nickel ore. -
more
Indonesia Set to Produce 4 Million Tons of Nickel - The Industry Ministry
is targeting to produce four million tons of nickel by 2020, which is equivalent
to 10 percent of the global demand that reaches 40 million tons per year
-
more
Mining
Companies in Focus: Nickel Producer Vale Indonesia - Although Indonesian
nickel miner Vale Indonesia saw its sales rise by 32.4 percent year-on-year
(y/y) to USD $143.95 million in the first quarter of 2017 supported by the
24.1 percent (y/y) growth in the (average) nickel matte price in Q1-2017,
the company is pessimistic about the direction of the nickel price in the
remainder of 2017 as inventory levels remain high on the London Metal Exchange
and Shanghai Futures Exchange. -
more
Ni
SUS Scrap Purchase Price in Kanto in May Starts with JPY125,000/130,000 =
Pickup price in Western Japan is down by JPY5,000 which is same level as
that in Kanto = As of May 1, 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 JPY125,000 to JPY130,000 per ton. -
more
Glencore's Production Volumes of Ni, Co & FA in Jan-Mar - Last
week, Glencore plc announced its production volumes in the period from January
to March in 2017, of which the Company's production volumes in the division
of ferroalloys (ferro-chrome, vanadium pentoxide, ferro-manganese and
silico-manganese), in the division of nickel (nickel, nickel concentrates
and ferro-nickel) and in the division of cobalt (including the volume produced
from raw materials supplied by the third party) are as shown in the table
below. -
more
Govt
launches probe on alleged dumping of stainless steel - The Government has
launched a preliminary investigation on cold rolled stainless steel (CRSS)
imports that originate in, or are exported from, China, South Korea, Taiwan
and Thailand. -
more
Afarak notes high ferrochrome, chrome ore prices of Q1 not sustainable
- Shares in Afarak fell almost 11% as it said warned the high price levels
for ferrochrome and chrome ore seen Q1 have not been sustainable over the
longer term. -
more
No
future for mining beyond 2050 - experts - Currently the mixed structured
open economy is largely dependent on mineral revenue mainly from the diamond
sector for foreign income generation and the government dominates, coordinates
and regulates almost every sector of the middle income economy that Botswana
is. -
more
Sumitomo Agrees to Change Shareholding Ratio in Ambatovy = Sumitomo's
interest holding ratio goes up to 47.7% =On May 2 (May 1 Canadian time),
Sumitomo Corporation made a basic agreement to change the structure among
the shareholders in Ambatovy nickel project in Madagascar. -
more
Wynne
warns First Nations in Ring of Fire talks - Ontario Premier Kathleen Wynne
signalled this week to First Nations in the provinces north that
shes willing to abandon joint talks with them over building roads into
the Ring of Fire region. -
more
Premier growing frustrated with Ring of Fire talks -
more
All
candidates want ferrochrome plant in the Sault - A presentation by NorOnt
Resources top brass have created a stir with candidates running in the provincial
by election. -
more
Northern Ontario cities try to 'sell' themselves as best place to put Ring
of Fire smelter -
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 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.14/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.09/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose on Wednesday and now total
just over the 381,800 tonne mark. Nickel is higher this morning on short
covering and what could turn out to be, a dead cat bounce. We put resistance
just under the $4.40/lb level, so if nickel makes it that high, we will see
if it has any staying power. The traded price has moved above its 10 day
moving average, so traders and trading computers are paying attention. The
Palmer soap opera from Australia continues, and could have only gotten better
in this weeks episode, had Mr Palmer thrown up on the judge. The question
remains - Where in the world is Carmen San... - whoops, sorry - Clive Mensink?
Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.16/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
Brunel metal expert picks holes in new pound coin with Sky News -
more
Ontario's best mine rescue squads battling it out in Sudbury -
more
(Tweet) Sumitomo Metal Mining executive says assumes nickel price at $4.75
per pound in fy2017/18, against $4.56 a year earlier
Europe Stocks Slip as Oil Leads Commodity Rebound: Markets Wrap -
more
Nickel ore oversupply looms, threatening refined prices: Russell -
It may be going from bad to worse for the nickel price, with conciliatory
comments from the new mining minister in top ore producer the Philippines
adding to the risks of the market being pushed into oversupply. -
more
Stainless steel raw material tracker Apr 2017 - Ferrochrome
had a good run in March but as expected, the prices kept falling even more
sharply. -
more
Indonesias Contribution to Meet Global Nickel Demand by 2020
- Indonesia has set a target to produce four million tons of nickel by 2020
to become one of the world's suppliers of the commodity. -
more
Commodities Declined on Weakening Fundamentals - Commodities declined
in April on weakening industrial demand expectations out of China and increasing
US crude inventories, according to Credit Suisse Asset Management. -
more
Ni
SUS Scrap Purchase Price in Kanto in May Starts with JPY125,000/130,000 =
Pickup price in Western Japan is down by JPY5,000 which is same level as
that in Kanto = As of May 1, 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 JPY125,000 to JPY130,000 per ton. -
more
Sudbury
in running for ferrochrome plant - At least four communities -- including
Greater Sudbury -- are in the running to host a $1-billion ferrochrome facility
to process ore from the Ring of Fire located in northwestern Ontario. -
more
Clive
Palmer claims strong painkillers affected his memory in court testimony -
Clive Palmer seems to be having a rough trot of late. -
more
LME's
Q1 2017 trading volume down 1.5% on year; quarter-end open interest slips
4.6% - Total trading volume on the London Metal Exchange was 38.86 million
lots in first-quarter 2017 (January-March), inching 1.5% down from the same
quarter in 2016, LME's parent company Hong Kong Exchanges and Clearing said
Wednesday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, May 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.18/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 rose on Tuesday and started the
day just shy of the 381,400 tonne level. Nickel appears to be readying another
attempt at the $9300/tonne level today, which rejected an earlier attempt
to breech it. We don't see technical resistance until around $9500/tonne
so this could be a psychological point. With fundamentals sending a bearish
signal this week, with the appointment of a pro mining minister in the
Philippines, the positive run over the last few days could be buyers taking
advantage of some very low prices. The news is good for Philippine miners,
but not so much for the other world miners, as the threat of less supply
from that island could have helped boost prices elsewhere. LME nickel stockpiles
have grown every day this month, so surviving miners could use a little less
supply. The news from China is bearish as well, with their stock market losing
for a sixth day, the first time that has happened in four years. Damstahl
published their monthly report - one of the best free monthly reports out
there. New Caledonia is no longer under the threat of a typhoon.
Average price of cash nickel so far this month - $4.16/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) CSSEA: Chinas crude stainless steel output up 19.38 percent
in Q1
U.S. to impose anti-dumping tariffs on Taiwan steel makers -
more
Models reduce likelihood of El Niño for 2017 but tropical Pacific
Ocean warmer than average -
more
The China steel market is pointing to big problems for iron ore -
more
Goldman Sachs: Why the commodities rally might be different this time -
more
Tesla battery researcher says they doubled lifetime of batteries in Teslas
products 4 years ahead of time -
more
Stocks Edge Lower as Dollar Stalls; Oil Advances: Markets Wrap -
more
Philippines' Duterte says mining law to stay, as new minister takes
over - Philippine President Rodrigo Duterte said on Wednesday the government
cannot scrap an existing mining law, suggesting he is open to easing up on
a crackdown launched by a dismissed minister who ordered the closure of half
the country's mines. -
more
Philippines Q1 nickel ore output falls 51 pct on rains, crackdown -
Nickel ore output in the Philippines, the world's top supplier, fell 51 percent
in the first quarter due to rains and the suspension of mine operations,
government data showed on Wednesday -
more
The
commodity conundrum why are prices so weak? - While it is accepted
wisdom that energy is the most important commodity complex, representing
more than 80% of the dollar volume of trading in commodity markets, there
are dozens of important raw materials and soft commodities that also serve
as important barometers of the global economy. -
more
Norilsk
Nickel lawsuit against Botswana undeterred by potential deal - Norilsk Nickel
Africa will press ahead with a lawsuit against Botswana over a failed $271
million deal to sell a 50 percent stake in its Nkomati Nickel Mine even though
the government is still trying to raise the funds, its chief executive has
told Reuters. -
more
Market
Trend of Import of Ferroalloy as of 28 April 2017 = Chinese market rebounds
in final week of April because Ministry of Environmental Protection begins
inspection = In the final week of April, the Ministry of Environmental Protection
(MEP) began a one-month inspection in a total of 7 provinces and cities such
as Tianjin, Shanxi, Liaoning, Anhui, Fujian, Hunan and Guizhou. -
more
Tough
times ahead for Odisha metal industries as state doubles energy duty - The
Odisha governments move to double the electricity duty for captive
power plants from 30 paise per unit to 60 paise per unit is likely to hit
all power intensive metal processing industries in the state hard. -
more
Ex-cyclone moves away from New Caledonia - Cyclone Donna has weakened
to a tropical low, with its centre moving away from New Caledonia. -
more
Clive
Palmer testifies on nephew's disappearance, 'has memory loss due to morphine'
- An ill-looking and out-of-breath Clive Palmer has told a court he paid
for two luxury cruises for his nephew Clive Mensink, who has an outstanding
warrant for his arrest for failing to appear over Queensland Nickel's collapse.
-
more
Clive Palmer clutches vomit bag as court grills him over nephew's whereabouts
-
more
Palmer in court - with sick bag and ventilator -
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 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Monday's trading session at
$4.15/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose slightly on Monday and now
total just over the 380,700 tonne level. As far as nickel trading went yesterday,
traders could have taken a holiday and accomplished about as much. Nickel
ended $5 a tonne higher, and stockpiles rose by 6 tonnes. Not exactly a busy
day. Commodities are trading higher this morning, but without much enthusiasm.
Support at $4.11/lb appears to be holding., after being tested on Friday.
I suspect the markets are more than a little nervous about that $4.04/lb
that nickel fell to on Friday and do not want to see nickel trading in the
$3/lb range ever again. We have a new Environmental Minister in the Philippines,
a hurricane threatening New Caledonia, and more drama in the Australian Palmer
soap opera.
Average price of cash nickel so far this month - $4.15/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
(ipath) Downward trend on Nickel Marketbeta - down -17.65% in 2 months
Dollar Advance Saps Commodity Gain; Stocks Rise: Markets Wrap -
more
New
Philippines environment minister says possible to balance mining, nature
- The Philippines' new environment minister said it was possible to strike
a balance between mining and protecting natural resources, but added that
he needed time to assess mine closures ordered by his dismissed predecessor.
-
more
Will Filipino Mining Realise Its Potential? -
more
Clive
Palmer ordered to attend Queensland Nickel hearings amid pancreatitis recovery
- Clive Palmer is recovering from a severe case of pancreatitis which his
legal team said prevented him from giving evidence to the Federal Court today,
but a judge has ordered him to attend tomorrow. -
more
Clive Palmer a no-show at Obama dinner despite protestations -
more
Clive Palmer calls in sick to Federal Court -
more
Gimme
smelter - Its time to get political about the Ring of Fire. -
more
Eskom
puts pressure on ZESA payments - Zimbabwe has been warned that if they do
not adhere to their payment obligation, Eskom will cut supply come end of
May. -
more
New
Caledonia braces for Cyclone Donna - Power has been cut in parts of New Caledonia
as Cyclone Donna passes near the Loyalty Islands. -
more
Courtesy
AISI - In the week ending on May 6, 2017, domestic raw steel production was
1,737,000 net tons while the capability utilization rate was 74.5 percent.
Production was 1,732,000 net tons in the week ending May 6, 2016 while the
capability utilization then was 74.1 percent. The current week production
represents a 0.3 percent increase from the same period in the previous year.
Production for the week ending May 6, 2017 is down 0.7 percent from the previous
week ending April 29, 2017 when production was 1,750,000 net tons and the
rate of capability utilization was 75.1 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, May 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.15/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Thursday and were unchanged
on Friday and start the week just over the 380,700 tonne level. Nickel recovered
a little late Friday after falling to a 2017 low of $4.04/lb earlier in the
session. This was part of an overall bounce in commodities and the Euro and
had nothing to do with any fundamental change in nickel itself. That reality
is returning today and nickel is floundering, as are most base metals. Support
remains at $4.11/lb and the market doesn't appear to want to test this today
- but that could change. Philippine media is reporting President Duterte
has appointed former army general and ambassador Roy Cimatu to the post of
Environmental Minister. The Philippine mining industry has welcomed the news,
and after the disastrous last eleven months under Lopez, we expect news out
of that region will soon fall from headline status.
Average price of cash nickel so far this month - $4.16/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
Chinese Steel exports plunge by 29% y/y during April -
more
China's iron ore imports slump as port stocks build -
more
Euro Slips With Stocks After Macron's Expected Win: Markets Wrap -
more
Philippines Duterte names ex-army general as environment minister -
Philippine President Rodrigo Duterte has appointed a former military man
as the new environment minister after Congress dismissed his first choice,
who ordered the closure of more than half of the mines in the world's top
nickel ore supplier. -
more
Miners deny hand in lawmakers decision on Lopez -
more
The CA is now the public face of rotten politics -
more
Commodities Slump Fueled by Softening Demand From China - A global
commodities slump deepened Friday, with oil and iron ore hitting their lowest
levels since November on continuing worries about an excess of world-wide
supply, as well as concerns over weakening demand in the key China market.
-
more
Eskom to cut power supplies to Zimbabwe - South African power utility,
Eskom, has given Zesa Holdings until the end of this month to clear its debt
of $43 million, failure of which it threatens to cut 300 megawatts from the
amount it is supplying Zimbabwe per day, raising fears of load-shedding.
-
more
New
Caledonians take shelter as Cyclone Donna bears down - A cyclone bearing
down on New Caledonia in the South Pacific was upgraded on Monday to a category
five storm, the most destructive wind-speed level, prompting local authorities
to order people to stay indoors and take shelter. -
more
AIIS
Steel Market Update- April 2017 - Economic growth slowed to a crawl during
the first quarter, with gross domestic product (GDP) increasing by just 0.7
percent. -
more
AIIS March 2017 Steel Imports Press Release -
more
Low
nickel prices must recover for Yabulu to reopen - Hopes of a new operator
buying or restarting Yabulu nickel refinery look slim with the metals
prices continuing to languish around $US4 a pound, marginally higher than
when the plant fell into administration and closed last year. -
more
Nickel Asia swings to profit in Q1 on higher shipments, prices - Listed
mining firm Nickel Asia Corp. (NAC) swung to a profit in the first quarter
of this year from a loss in the same period last year on the combined effects
of shipments of higher-value saprolite ore from its Rio Tuba and Taganito
mines this quarter, coupled with higher prices and a stronger US dollar.
-
more
Russian
nickel copper sulphide project begins industry low cost drilling phase -
Russian nickel copper sulphide project begins "lowest priced" drilling phase
in mineral resource industry -
more
Chinese
submersible discovers polymetallic nodules in SCS - "Learning the distribution
of polymetallic nodules will help us to choose a site for experimenting with
collection, which is one of the main goals of the mission," Wu Changbin,
general commander of the second stage of the expedition said -
more
How Electrified Steel Could Suck Toxic Metals From the Ocean -
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 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Wednesday's trading session at
$4.19/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.08/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose slightly on Wednesday and
now total just over the 380,500 tonne level. If you look up swan dive in
the dictionary, you might find the best description of how the market is
reacting to the news from the Philippines that Lopez is out. To be fair,
the commodity crash is happening across the board, so the Lopez news is just
adding fuel to an already bearish mood sweeping across markets. Nickel is
now trading at a eleven month low and closing in on key support at $4.10/lb.
'Gina' Lopez became President Duterte's second cabinet pick to be rejected
by that country's Congress, and in our opinion, can only blame herself. When
you take on big business in a personal crusade, you better have a lot of
support in your back pocket, and a whole lot more than she had. President
Duterte, the outspoken leader in the Philippines, who once referred to Philippine
miners as "sons of whores", received the news of Lopez's rejection with unusual
silence, with his spokesman advising the President was accepting the news
and already seeking a replacement. Maybe her war on miners had turned her
into such a polarizing figure, that even he had grown tired of her stealing
the headlines. In the mean time, this is bad news for nickel miners, who
are watching profit margins take another beating. Stainless steel producers,
who may see higher profit margins in the short term, now have to play the
cat and mouse game in a volatile market, on when to buy nickel, with a poorly
times decision potentially costing a buyer hundreds of thousands of dollars.
Any justification for recent price increases in stainless steel product,
are fast disappearing. Have a safe and relaxing weekend.
Average price of cash nickel so far this month - $4.26/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
Chinese Steel Companies Register Highest Quarterly Profits of Decade -
more
Upbeat Earnings Lift Europe as Dollar Heads Down: Markets Wrap -
more
Metals
Extend Sell-Off as Mining Shares Decline, Iron Ore Slumps - Metals extended
their biggest daily plunge this year, buffeted by signs of ample supplies
of copper, concern over the outlook for demand in China and a stronger dollar.
-
more
Mining firm files graft complaint vs Gina - A mining company yesterday
filed before the Office of the Ombudsman a graft complaint against Environment
Secretary Gina Lopez for allegedly using her position to impose additional
requirements on the firm that she had suspended for violating mining laws.
-
more
Ejercito chides CA members with mining interests who did not inhibit from
Lopez vote -
more
Second review of Philippine mines to go ahead - finance official -
more
Arabs
offer to buy disputed Nkomati stake - The Emirates Investment
House (EIH) this week extended their due diligence on BCL assets to Nkomati
Mine after getting the greenlight from Russias Norilsk Nickel, Minister
of Minerals, Energy Security and Green Technology Sadique Kebonang said
yesterday. -
more
US Steel
Import Permits Declined 2% in April - Based on the most recent Steel Import
Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute
(AISI) reported today that the U.S. steel import permit applications for
the month of April this year totaled 3,433,000 net tons (NT) of steel. -
more
Russia's
Norilsk Nickel to invest $14 mln into machinery upgrade of Arctic mine -
Russian mining and metals company Norilsk Nickel will allocate 800 mln rubles
($14 mln) to acquire new machinery for Severny Mine of its affiliate Kola
GMK in the Murmansk Region, press service of Kola GMK told TASS on Wednesday.
- more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, May 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Tuesday's trading session at
$4.32/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.10/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Tuesday and now stand
just under the 380,500 tonne level. Stunning news from the Philippines has
taken the market by storm, with nickel falling sharply on news that Gina
Lopez is out as Duterte's Environmental Minister. Nickel bulls can not get
a break this year, and the bears appear to be firmly in control. We have
linked to numerous stories below about the Lopez rejection, which happened
a few hours ago. She had moxie, but she lost the battle to the mining industry.
It remains to be seen whether the noise she made in the past year will last
beyond her tenure.
Average price of cash nickel so far this month - $4.30/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
EU steel market: Greater stability at the start of 2017 - EUROFER urges caution
-
more
European Stocks Decline, Dollar Climbs Before Fed: Markets Wrap -
more
Philippine Congress Rejects Appointee Who Ordered Mines Shut - The
Philippine Congress has rejected the appointment of the country's acting
environment chief, who ordered the closure and suspension of dozens of mines
she says harm the environment and residents. -
more
Duterte's controversial environment secretary out after Senate rejects
appointment -
more
Gina Lopez says CA vote was influenced by biz interests -
more
Philippine environment chief dumped as miners triumph -
more
Nickel shriek turns to shrug as Philippines dithers on audit -
more
Listed mining firms buck order vs open-pit operations -
more
Miners say agony over with Gina Lopez's rejection -
more
Nickel falls from grace as bull narrative unravels: Andy Home - Nickel
has gone from bull hero to zero in the space of just a couple of months.
-
more
US stainless
sheet transaction prices soften on lower surcharges - Despite base prices
holding firm, US cold-rolled stainless sheet transaction prices dipped slightly
to start May as raw material surcharges softened from April levels, sources
said Monday. -
more
SAIL
plans to double steel exports to 1.6 mt in FY18 - Buoyed by a three-fold
rise in exports in 2016-17 over the previous fiscal year, state-run Steel
Authority of India (SAIL) is hoping to more than double its outward shipment
to 1.6 million tonne. -
more
Munali
mine to resume operations - Consolidated Nickel Mine Limited is soon expected
to finalise the raising of capital to restart production of nickel by the
end of the year at its subsidiary, Munali Nickel Mine in Mazabuka. -
more
Emirati
firm eyes mine disputed by Botswana, Norilsk Nickel - Botswana hopes to end
a lawsuit with Russia's Norilsk Nickel by helping Emirates Investment House
(EIH) buy a disputed 50 percent stake in the Nkomati nickel mine in South
Africa, a government minister said on Tuesday. -
more
Antam
Investors Upbeat as Nickel Ore Exports Resume - State-owned Indonesian mining
company Aneka Tambang is looking to improve sales with the resumption of
nickel ore exports this month after a three-year ban. -
more
Govt
restructures chrome mining sector - The Government is restructuring the chrome
mining sector to enable small-scale miners to drive the exploitation of the
mineral, a Cabinet Minister said. -
more
Outokumpu supplies stainless steel for China Resources innovative
skyscraper in Shenzhen - Outokumpu has provided 1,000 metric tonnes of Supra
316L/4404 stainless steel for the China Resources Group headquarters in mainland
China. -
more
Fateful
conversation on day of Sudbury tragedy - Trevor Gosselin says he remembers
the conversation that probably saved his life like it happened yesterday.
-
more
73,000-pound
falcon statue in place at Mercedes-Benz Stadium - Workers install a 73,000-pound
stainless steel sculpture of a falcon outside Mercedes-Benz stadium Thursday,
April 27, 2017, in Atlanta. -
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 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Three month nickel closed Friday's trading session at
$4.29/lb
. Indicators at
6:20 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME approved warehouses rose on Thursday and fell on
Friday to start the new month just under the 379,200 tonne level. LME markets,
as well as most of the rest of the world, were closed on Monday for the Mayday
holiday. The news that Lopez had banned open pit mining in the Philippines
finally hit the markets after we published Thursday and nickel has been trading
higher ever since. At the moment, it is struggling with minor technical
resistance at $4.31/lb, but appears to have enough gas to push thru this.
Tomorrow's scheduled confirmation hearings in the Philippines could add a
little 'punch' to the market, as DENR head Regina Lopez faces off against
an industry her boss refers to "sons of whores". The average price of cash
nickel ended $.01/lb lower than it did in March and its lowest for 2017.
The average price of $4.39/lb was only $.03/lb higher than cash nickel averaged
all of 2016. Could be an interesting week as nickel starts a new month
with some positive momentum. How long will it last this time around?
Average price of cash nickel so far this month - $4.39/lb (final April
average)
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) China's steel sector PMI decreases to 49.1 percent in April
Global Stocks Climb Amid Earnings as Yen Weakens: Markets Wrap -
more
Nickel
Prices: Trading Quiet Following Commoditys Fall to 10-Month Low - Nickel
trading was quiet Friday, with the metal holding fractionally lower on lighter
trading volume. -
more
Indonesian miner Antam to resume nickel ore exports this month -
Indonesia's state-controlled miner PT Aneka Tambang (Antam) will resume exports
of nickel ore this month, with an initial shipment of 150,000 tonnes expected
to leave for China in early May, a company executive said on Tuesday. -
more
Nickel
producer Nornickel to sue Botswana government - The world's leading nickel
producer, Nornickel is taking a legal action against the Botswana government
over its failed sale of Tati mine in Botswana and the Nkomati mine in South
Africa to the State Enterprise, BCL Mine, said Nornickel on Friday in
Johannesburg. -
more
Brazil
starts antidumping investigation on austenitic Stainless Steel - ...Against
the austenitic stainless tube imports from Malaysia, Thailand and Vietnam,
the Brazil government has started an antidumping investigation. -
more
Philippines Moves to Shut Mines Accused of Polluting - And on Thursday,
she said she would soon issue an order banning open-pit mines, calling the
pollution of rivers with heavy metals a perpetual liability.
-
more
DENR partners with more mining firms for livelihood program -
more
Chrome
price boom creates scramble for claims - A boom in the international price
of chrome has seen foreign companies scrambling for chrome claims in the
country, Standard Business has learnt. -
more
Sherritt gives partners larger stake in Madagascar nickel mine for
debt relief - Sumitomo and Korea Resources will get a larger stake in the
Ambatovy nickel project in Madagascar under a debt restructuring agreement
with partner Sherritt International. -
more
Outokumpu expects Q2 profit to be slightly weaker than Q1 - Finnish
stainless steel producer Outokumpu said it expects current quarter profit
to be "somewhat" below first-quarter levels due to lower ferrochrome prices
and deliveries. -
more
Zimbabwe: Govt Demands 1 000ha From Zimasco - Zimasco is to release
a further 1 000 hectares (ha) of chrome claims to government after failing
to comply with a State directive last year to cede half of its 49 000ha resource
to the State, official reports indicated this week. -
more
Nickel
miner Vale Indonesia scores higher Q1 yoy sales - Nickel miner PT Vale Indonesia
recorded a US$143.9 million sales value in the first quarter of the year,
32 percent higher than in the same period last year. -
more
Land
stir hurts investments in Tata Steel's Gopalpur industrial park - Sporadic
protests by land losers and project affected people are impeding the flow
of investments to Tata Steel's industrial park at Gopalpur. -
more
Courtesy
AISI - In the week ending on April 29, 2017, domestic raw steel production
was 1,750,000 net tons while the capability utilization rate was 75.1 percent.
Production was 1,698,000 net tons in the week ending April 29, 2016 while
the capability utilization then was 72.6 percent. The current week production
represents a 3.1 percent increase from the same period in the previous year.
Production for the week ending April 29, 2017 is up 2.0 percent from the
previous week ending April 22, 2017 when production was 1,715,000 net tons
and the rate of capability utilization was 73.6 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
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
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