This
page is archived news covering the period of May 2019
If you are looking for current daily market news, please visit
here.
Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.
Cell phone and tablet users - smaller version of
this page -
(here)
Thursday, May 30
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.47/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Wednesday and started
today's session just under the 160,300 tonne level. At the moment, the price
of nickel has its nose still above the $12,000 tonne level, but by less than
the price of a bottle of beer. The average cash price of LME cash nickel
is now $3/tonne below the same level. After spiking early Friday, nickel
has been on a steady rate of decline. The spike started around the $5.39/lb
level, so the rate of decline needs to slow down or the market is in danger
of slipping below support levels. If last weeks spike was part of an actual
'plan' to stimulate the market, it appears to have failed. If it was a move
to force shorts to sell off to cover, and thus place less downward pressure
on the market, it remains to be seen if that pressure has been removed. It
did, however, force shorts to cover last Friday. The rate of LME inventory
declines has roared back this week, after evaporating last week. Depending
on the next few days, we could actually see the 708 tonnes reported at the
half way point of the month, increase for the month as a whole. This is our
last entry for the week - and month. We hope each of you has a safe and
entertaining weekend, and hope to see you back Monday for the first week
of the last month of the first half of 2019.
Average price of cash nickel so far this month - $5.44/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Copper falls further as trade tension flares -
more
ArcelorMittal Declares Production Cuts in More EU Steel Mills -
more
China Waits for U.S. to Make Move After Trump Says He’s in No Rush -
more
U.S. Futures, Europe Stocks Advance; Bonds Steady: Markets Wrap -
more
Wednesday's market review - Copper hits near 5-month low after China-U.S.
tension flares - Copper prices slumped to the lowest in almost five months
on Wednesday on fears an escalation in US-China trade tension will damage
economic growth and curb metals demand. -
more
Price
of HC FeCr in China Continues to Go down Gradually = Production makes recovery
in Inner Mongolia and import goes up = The price of high-carbon ferro-chrome
in the Chinese domestic market has continued to go down gradually also in
May. -
more
Taiwan's
Yusco remains stainless steel prices unchanged for Jun - Yieh United Steel
Corp, the largest integrated stainless steel mill in Southeast Asia, announced
its domestic and export prices of stainless steel for June today (May 30th).
- more
Philippines says Q1 nickel ore output rises 3% on year - The Philippines'
nickel ore production in the first quarter rose 3% from a year earlier to
2.97 million dry metric tonnes, despite zero output from more than half of
the country's 28 mines, the government said on Thursday. -
more
China’s push for more nickel in batteries slightly delayed, but it will
come - The lower cobalt price has delayed slightly China’s push towards
more nickel and less cobalt in its batteries – but fear not, the switch
in chemistries is still on the agenda. -
more
US
authorities Relax Section 232 Measures - Steel selling values, in the United
States, continue to be among the highest in the world. Nevertheless, local
steel manufacturers are struggling to minimize the extent of recent price
erosion, across flat and long products. -
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 29
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.50/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and started today
just over the 163,100 tonne level. Nickel closed above the $12,000 tonne
level for a second day, which typically would send a bullish technical signal.
But it appears traders are treating the price spike of Friday last with the
same sense of suspicion that market analysts are, and a downward trend since
seems to be evident. Once again, nickel appears to be shadowing the Euro.
The average price of cash nickel today is just $5/tonne shy of regaining
the $12,000 tonne level. The trade war is still in the forefront of markets
minds and China's implied threat that it could ban the exports of what are
called 'rare earth minerals' has everyone buzzing. And if that isn't special
enough, there is news from China that the Shanghai Futures Exchange will
be trading stainless futures later this year. As if stainless steel prices
weren't volatile enough.
Average price of cash nickel so far this month - $5.44/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Base metals fall on demand worries amid dragging
trade war -
more
Stocks Tumble as Bond-Market Warning Rings Louder: Markets Wrap -
more
Tuesday's market review - Copper rises, but trade tensions keep sentiment
fragile - Copper prices rose on Tuesday alongside Chinese equities, supported
by expectations of further economic stimulus in the world's biggest consumer,
though sentiment remained fragile because of the U.S.-China trade dispute.
-
more
Chinese
Steel output reaches new heights - Until a few years ago, market updates
from major iron ore producers Rio Tinto and BHP routinely stated that they
expected Chinese crude steel production to reach 1 billion metric tons sometime
between 2025 and 2030. -
more
Commodities Markets Can Provide Valuable Insights into the State of
the Global Economy - Notwithstanding the recent correction associated with
renewed trade tensions between the U.S. and China, a strong start to the
year for global equity and commodities markets suggests a strong macroeconomic
backdrop and a high risk appetite among investors. -
more
Ferronickel imports rebound close to 50% in Apr - China's ferronickel
imports in April jumped 49.7% on the month to stand at 145,531 mt, after
fewer arrivals from Indonesia drag on imports to 97,216 mt in March, showed
data from China Customs on Wednesday May 29. -
more
Court
denies request for additional environmental review of PolyMet mine - The
Minnesota Court of Appeals has rejected arguments from three conservation
groups that claim state regulators should conduct additional environmental
review of the PolyMet copper-nickel mine proposed for northeastern Minnesota.
-
more
Courtesy
AISI - In the week ending on May 25, 2019, domestic raw steel production
was 1,892,000 net tons while the capability utilization rate was 81.3 percent.
Production was 1,808,000 net tons in the week ending May 25, 2018 while the
capability utilization then was 77.1 percent. The current week production
represents a 4.6 percent increase from the same period in the previous year.
Production for the week ending May 25, 2019 is down 0.4 percent from the
previous week ending May 18, 2019 when production was 1,900,000 net tons
and the rate of capability utilization was 81.6 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
Tuesday, May 28
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.61/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Thursday and rose on
Friday and start this week just under the 165,600 tonne level. We reported
earlier this month that as of the half way point in the month, nickel stockpile
numbers had fallen by an average of 708 tonnes per day. Since then, and as
of today, the stockpile figures are now higher than they were on the 15th.
Nickel spiked higher on Friday and media yesterday was buzzing on why. Even
those who seem to have a reason for everything could not explain why the
price spike. There were some violent riots in Indonesia on Thursday but things
have been calm there since. The Euro had jumped right before the spike, but
did little more than take the Euro back to where it was trading against the
US Dollar on the 13th. The general consensus is blame trading computer
algorithms. Nickel remains above the $12,000 tonne level this morning. It's
a shortened week and the final week of the second month of the second quarter
of 2019. May it be a prosperous one for you.
Average price of cash nickel so far this month - $5.43/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Zinc prices rally for second day; tight stocks in
focus -
more
Stainless Steel in Architectural Applications -
new
brochure
Jakarta riots reveal Indonesia’s deep divisions on religion and politics
-
more
Stocks Dip as Treasury Yields Drop to 19-Month Low: Markets Wrap -
more
Positive Indian Ocean Dipole likelihood increases -
more
Friday's
market review - Nickel jumps to 2-week peak on short covering, China hopes
- Nickel spiked to its highest level in over two weeks on Friday as bearish
investors covered positions, while other industrial metals gained on a weaker
dollar and hopes for a U.S.-China trade deal. -
more
Nickel no more on the nickel: price hike remains a mystery - The price
for nickel jumped sharply in a few minutes on Friday without a clear reason.
-
more
Nickel prices spike to its highest level in more than two weeks -
more
Muted
Chinese stainless steel production, trade dispute results in nickel price
dip - Fitch Solutions Macro Research has revised its nickel price forecast
for this year down to $13 250/t, compared with its previous forecast of $14
500/t, as prices have headed lower in recent weeks. -
more
Indonesia's Export of Stainless Steel Semi-products in March 2019 = Ingot
is 50,000 tons and flat roll is 190,000 tons = Indonesia's foreign trade
statistics shows the export volume of stainless steel semi-products in March
2019 was 49,829 tons of ingot (slab/HS: 7218) which made a recovery from
the prior month (151 kgs). -
more
Most new plants use low-scrap input despite cost and environmental pluses,
says analyst - There are some powerful reasons for mills to favour the use
of stainless steel scrap over virgin materials, not least that it is “the
lowest cost option” for consuming mills and the subject of “very
competitive pricing at the moment”. -
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 23
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.43/lb. Indicators
at 6:25 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell slightly on Wednesday and
started today just over the 165,000 tonne level. Nickel closed back below
the $12,000 tonne level yesterday, and so far, is bucking its tendency to
see saw back above that level this morning. It still has about $120/tonne
before it tests resistance, but traders have been bitten by the bear bug
again. Reuters is blaming the trade war, but we tend to feel today's accelerated
drop is primarily due to the Euro dropping today. The trade war is definitely
a factor, but we feel it is more responsible for the overall bearish trend,
and not the day to day dumps or bumps. Speaking of, still no negotiations
planned and the two parties have moved from the negotiation table to saber
rattling and nationalistic rhetoric in their respective media's. We can't
help but wonder where all the free-trade Congressmen have gone. This is our
last update for the week and we hope each of you has a safe and enjoyable
weekend and invite you back next week. US markets are closed for Memorial
Day Monday and LME markets are closed for Spring Bank Holiday. So we will
return on Tuesday.
Average price of cash nickel so far this month - $5.43/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Copper slides as prolonged U.S.-China trade tension
clouds sentiment -
more
SMM - China Customs reports China imported 350,000 mt of scrap metal in April.
This was up 40% from March, but down 20.4% from April 2018.
The trade war is forcing China to 'rethink economic ties' to the US -
more
Full-Blown Trade War Is Quickly Shifting From Risk to ‘Baseline’
-
more
Stocks Slump, Dollar Rises as Trade Worries Deepen: Markets Wrap -
more
Wednesday's market review - Trade war worries drag copper to 4-month
lows - Copper prices hit a four-month low on Wednesday as an intensifying
trade dispute between the United States and China took its toll on industrial
metals with investors fearing damage to economic growth and weakened demand.
-
more
POSCO's stainless steel production & sales increases in Q1 - It was reported
that in the first quarter of 2019, POSCO's stainless steel output was around
500,000 tons, up from 470,000 tons in the previous quarter and 490,000 tons
in the same period a year ago. -
more
Mincor drives nickel portfolio through purchase of IGO operation - Independence
Group has sold its Long nickel operation in Western Australia’s Kambalda
district to Mincor Resources for up to $9.5 million. -
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 22
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.47/lb. Indicators at
6:25 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses rose for a second consecutive
day and now total just over the 165,100 tonne level. Nickel closed above
the $12,000/tonne level yesterday and has slipped back below that level this
morning. The price see-saw around this level continues. BHP is telling anyone
that will listen that not only ae they all in to the nickel business again,
but are looking for more assets. They want you, or at least their stock holders,
to believe that they came up with this idea first, instead of being one of
the last to show up to the party. If one questions that, I would invite you
to look back at the LME Week meeting last year, as that was topic number
one even at that late day. We welcome BHP to the party, but you might want
to make a less conspicuous entry, as your stock holders probably have noticed
your late. US stainless producers have posted surcharges for June and they
are lower
(sampling
here). As far as trade war news, there is none, We will say, from a personal
perspective, it appears that the Chinese media has turned sharply to a more
defiant and nationalistic tone in the last week. There has always been some
of that, but in the past, it was more defensive rhetoric against the bullying
American's, with always a hopeful tone to compromise included. That hopeful
tone is gone and the tone is much more defiant. This does not bode well for
a quick agreement, in our opinion.
Average price of cash nickel so far this month - $5.43/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Trade war drags copper to 4-month lows -
more
Stainless steel fasteners for the most demanding marine applications -
more
Nickel Prices Could "Go Through The Roof"; Watch For Signs -
more
How To Play The Upcoming Nickel Boom, According To Expert -
more
Xi Jinping says China is embarking on a 'new Long March,' signaling no end
to trade war soon -
more
Stocks in Holding Pattern as Traders Eye Tech Risk: Markets Wrap -
more
Tuesday's market review - Aluminium and other metals muted as U.S.
loosens Huawei restrictions - Aluminium ended barely changed on Tuesday after
a day of choppy trade, as a boost from a temporary easing of U.S. trade
restrictions on China’s Huawei was offset by expected higher output
from Norsk Hydro’s Alunorte refinery. -
more
BHP seeks more nickel sulphides on bright battery demand - Global miner BHP
Group said on Wednesday it is seeking to expand in nickel sulphides to feed
future demand for electric vehicle batteries, adding to its core commodities
of copper and oil. -
more
BHP puts coal on back burner in return to nickel and focus on renewables
future -
more
Market
Trend of Import of Ferroalloy as of 15 May 2019 = While many of products
show tapering down trend, molybdenum bounces back = The market trend of import
of ferroalloy as of 15 May 2019 is as follows. -
more
Nickel market records deficit in January to March 2019 - The nickel market
was in deficit during January to March 2019 with apparent demand exceeding
production by 23.2 kt. In the whole of 2018 the calculated deficit was 90
kt. WBMS has revised its estimated demand for Indonesia for the last three
years which has changed the market balances for the period. -
more
Stainless Steel Creates an Art Deco Masterpiece - With the Delhi Pillar
(Delhi, India), improved corrosion resistance was achieved through alloy
additions to the iron, but this was the result of luck with the ore used.
It was not until the late Victorian era that scientific investigations produced
the precursors to the modern corrosion-resistant steels in use 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
Tuesday, May 21
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.43/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.04/lb
higher. Stockpiles
of nickel stored in LME licensed warehouse rose for the first time this month
and started the day just over the 164,500 tonne level. Look like the $12,000
tonne level is setting itself up to be a battleground for bulls and bears,
at least in the short term. After rising above that level Friday, it closed
below it yesterday, and is trading back over it this morning. A weakening
Euro is putting negative pressure on LME traded commodities. On the other
hand, Chinese steel futures are trading very strong. Interesting article
below by Reuters' Andy Thomas about the 'confusing signals' LME nickel is
sending.
Average price of cash nickel so far this month - $5.43/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - London copper climbs as U.S. eases Huawei restrictions
-
more
Analysis: Platts China Steel Sentiment Index slumps to 12.79 points in May
-
more
China Warns About ‘Unwavering Resolve’ to Fight U.S.
‘Bullying’ -
more
Will China's steel production, capacity additions result in another export
flood? -
more
U.S. Futures, Europe Stocks Advance as Bonds Drift: Markets Wrap -
more
Monday's
market review - Zinc slides to 4-month low as China supplies ramp up - Zinc
prices hit four-month lows on Monday as investors fretted about rising supplies
from top producer China, while industrial metals overall came under pressure
from trade tensions between the United States and China. -
more
Column: Confusing signals cloud London nickel market - The London Metal
Exchange (LME) nickel market was last week gripped by the most acute tightness
in a decade. -
more
Production
Plan for Special Steel Products in Apr-Jun 4.8888 Mil. Tons = Down by 8%
from year-earlier period = On May 13, the Ministry of Economy, Trade and
Industry made clear the production plan for hot-rolled special steel products
in the period from April to June in 2019. -
more
Vanquished Palmer a no-show at Queensland Nickel court case - Big-spending
election loser Clive Palmer was absent from court as his lawyers were lambasted
by a judge overseeing Queensland Nickel's liquidation trial. -
more
Courtesy
AISI - In the week ending on May 18, 2019, domestic raw steel production
was 1,900,000 net tons while the capability utilization rate was 81.6 percent.
Production was 1,808,000 net tons in the week ending May 18, 2018 while the
capability utilization then was 77.1 percent. The current week production
represents a 5.1 percent increase from the same period in the previous year.
Production for the week ending May 18, 2019 is down 1.4 percent from the
previous week ending May 11, 2019 when production was 1,927,000 net tons
and the rate of capability utilization was 82.8 percent. -
more
'How's
the rape and pillage going?' WA public servant in CCC probe - A public servant
in charge of managing the rehabilitation of WA's abandoned mines has been
accused of serious misconduct and corruption after authorising payments to
her partner's consultancy company. -
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 20
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at $5.45/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME licensed warehouse fell on Thursday and Friday and
started the week around the 164,100 tonne level. Nickle topped out just after
we posted our final update for last week, and then has begun a decline which
has yet to stop. The market has not yet fallen to the lows of the last few
weeks, but nothing seems to be hindering its drop as of yet. If anything,
this morning the trading price rate of drop has accelerated. We put resistance
at the $5.33/lb level, which has been tested twice in the past few weeks
and so far, has held. On the news front the market is back and forth on its
fears of the economic effects of the trade war with China. The news that
the steel tariffs with China and Mexico have ended appears to be having little
positive effect. And Australia ... take a bow for proving money can't buy
everything. So what will the week bring for nickel prices and downstream
stainless steel users? Stay tuned and we will learn together.
Average price of cash nickel so far this month - $5.43/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Copper extends losses in volatile trade amid trade
war fears -
more
US reaches agreement to remove Canada, Mexico metals tariffs -
more
Stocks Decline as Trade War Hits Tech; Oil Rises: Markets Wrap -
more
Friday's
market review - Escalating trade war drives copper to fifth weekly loss -
Copper prices fell for a fifth consecutive week as the trade confrontation
between the United States and China intensified. -
more
Increasing
production may put pressure on Nickel prices - With no concrete conclusion
coming out of the months long trade spat between Washington and Beijing coupled
with narrowing global deficit, we expect MCX Nickel prices to go lower towards
Rs 800 per kg. -
more
China
trade conflict reverberates in Asian stainless steel market - Fears of a
fall in stainless steel demand are expected to limit a recent rebound in
Asian prices of the alloy, in one of the myriad ripple effects from the newly
escalating U.S.-China trade conflict. -
more
Is the commodities shortage more a mirage than reality? - Samso seeks to
help clients with business development and public investor/relation needs.
-
more
China's
scrap metal imports to slump as new rules leave firms confused - China’s
scrap metal importers expect disruptions in shipments to start this month
because of uncertainty surrounding new scrap restrictions starting in July,
depriving the world’s biggest copper consumer of a crucial source of
the metal. -
more
Ni
SUS Scrap Price in mid-May Starts with JPY120,000 to JPY130,000 = Due to
drop in LME nickel price and decreased domestic demand = As of April 13,
the stainless steel mills in the Kanto area purchase nickel-containing stainless
steel scraps (SABOT) at JPY120,000 to JPY130,000 per ton (delivered at plant).
-
more
Clive
Palmer's $60m election ad blitz appears to have failed to win a single seat
- Clive Palmer’s United Australia party appears to have failed to win
a single seat in federal parliament, after the billionaire spent an estimated
$60 million on election advertising. -
more
‘He destroyed lives’: Ex-Queensland Nickel worker unleashes on
Clive Palmer -
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 16
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.51/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Wednesday and started
today just under the 165,500 tonne level. If LME withdrawal rates continue
at their current pace, this month will take the lead for withdrawal rates.
At present, for the first half of the month, withdrawal rates jumped to an
average of 708.54 tonnes per day. Putting aside the seasonal fluctuations
in demand, that works out to less than 47 weeks of LME supply. After a very
slow start, nickel jumped back over the 12,000 tonne level yesterday, and
so far today, remains there. For the technical fans, we show resistance around
$5.60/lb. While it's too early to declare that nickel has found the floor
at $5.33/lb, the jump off that level has been significant and its going to
take some bad economic news, in our opinion, for traders to test it again.
Our track record for forecasting is 100% accurate - but only if we don't
announce it. When we publish it - the record is not nearly as good. So take
that comment with the same grain of salt you should consider every prediction
with. Linked to quite a few articles below but most are of regional interest.
This is our final update for the week, so we wish our readers a safe and
relaxing weekend and invite you back next week as we discover if the bull
is back, or if the bear just took a short break in his hidey-hole.
Average price of cash nickel so far this month - $5.42/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Shanghai aluminium hits 7-mth high amid supply shortage
in China -
more
China Promises Response If U.S. Slaps Tariffs on all Remaining Imports -
more
Commodities for the Trump-China trade war: Gold for bears, copper for bulls
- Russell -
more
U.S. Futures Turn Higher, Treasuries Erase Gain: Markets Wrap -
more
Wednesday's market review - Copper gains as hopes for trade deal outweigh
soft Chinese data - Copper extended its rebound on Wednesday as hopes the
United States and China would forge a trade deal overshadowed largely
disappointing economic data from top metals consumer China. -
more
Nickel & stainless: early optimism clouded by uncertainty - On
top of the effect of shaky China-US relations and the expected summer slowdown,
the alarm is being raised about the massive expansion of Indonesian output.
-
more
VTEM
survey confirms potential for significant nickel discovery at Chase
Mining’s Zeus project - Minerals explorer Chase Mining Corporation has
confirmed the potential for a significant nickel discovery at its wholly-owned
Zeus project area in Canada after receiving positive results from an airborne
geophysical survey at the Lorraine and Alotta-Delphi-Zullo targets. -
more
Trump
administration renews key leases for potential copper mine next to the BWCA
- Twin Metals is one step closer to officially proposing a copper-nickel
mine in northern Minnesota. -
more
Organic
waste reclaiming mine waste produces award-winning solution - Sudbury nickel
miner Vale and an industrial waste management company have come up with an
award-winning organic solution toward covering mine tailings near the smelter
in Sudbury. -
more
Clive
Palmer will not try to influence Queensland Nickel inquiry, senator says
- Brian Burston, the former One Nation and now United Australia party senator,
says he would consider it a “conflict of interest” and
“corruption” if an elected Clive Palmer sought to influence a
commonwealth-appointed special purpose liquidator into Queensland Nickel.
-
more
The
world’s nickel capital Norilsk is gripped by eternal winter - If you
live in Siberia, you’ve got to be either born with an unbreakable sense
of humour, or to grow one quickly to survive its tough climate and unpredictable
weather. -
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 15
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.40/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.01/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and started the
day just under the 167,300 tonne level. Base metals are in neutral today,
after a modest bounce back yesterday. Today's continuation of that bounce
appears to be tempered by a weakening Euro and no base metal is moving with
any tenacity today. Very little news today other than a lot of rehashing
of the news that BHP decided to keep Nickel West. Typically news like this
would be seen by the market as bullish news, but BHP spent five years trying
to unload this entire division, so its reasoning for the change is seen as
suspicious. Trade war news, while still important, is being pushed to page
two by other world events, and the bear is having his thunder stolen. Have
we seen a bottom? Or has the market got room to go before it finds the floor?
Stay tuned.
Average price of cash nickel so far this month - $5.42/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Copper rises on renewed trade deal hopes, Germany's
growth recovery -
more
Afarak issues profit warning for first quarter of 2019 -
more
U.S. Futures, Europe Stocks Dip as Asia Advances: Markets Wrap -
more
Tuesday's market review - Copper rebounds on bargain hunting, trade
tensions weigh - Copper rebounded on Tuesday as investors emboldened by solid
supply and demand fundamentals sought bargains after tit-for-tat trade tariffs
between the United States and China triggered a fall in prices. -
more
Chinese
stainless steel output increases in Apr m-o-m, y-o-y - According to statistics,
China produced a total of around 2.34 million tons of stainless steel in
April, up by 0.03% from the previous month and by 12.08% compared to the
same month a year ago. -
more
Acerinox
expects higher earnings on improved inventory - Spanish stainless steel producer
Acerinox forecasts higher earnings in the second quarter as a result of
"reasonable" US inventory levels, despite a decline in production from the
prior year period. -
more
BHP backs future of Nickel West to drive battery market - BHP has indicated
it will keep the Nickel West business in Western Australia as the company
looks to capitalise on the emerging global battery market. -
more
Clive
Palmer gag clause: QN workers told to make no ‘disparaging comments’
if they want entitlements - Former Queensland Nickel workers are being told
to sign a document gagging them from making any disparaging comments about
Clive Palmer in exchange for receiving their outstanding entitlements. -
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 14
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.34/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses fell on Monday and started todays
session just over the 168,700 tonne level. Nickel retreated sharply again
yesterday, and is up a few pennies this morning, as even the bears get concerned
the market has fallen too fast, too quickly. That isn't to say traders have
found the floor yet - but the pessimistic reaction to the trade talks should
concern even those who typically delight when their shorts pay off. Nickel
fell to as low as $5.32/lb yesterday as China retaliated to Trymp's tariff
increases. The average price of nickel for nickel has fallen below the $12,000
tonne level for May and this would be the the first time since January we
have seen that. BHP gave up on its five year attempt at unloading the Nickel
West mine, and instead says because of the expected increase in demand for
batteries, it has decided to keep the mine. The press is eating this announcement
up, but we see it as a no winner for BHP. Either they are putting lipstick
on a pig they couldn't unload, or their long term planning is seriously
deficient. BHP was a major player in the nickel industry, and its decision
years ago to get out of the business, is a reflection on an inability to
see beyond its iron ore operation. It would be interesting to know on what
day someone in their corporate office, upon hearing for the thousandth time
about EV and potential shortages of nickel, suddenly thought "Hey! What just
a minute!".
Average price of cash nickel so far this month - $5.42/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Copper rebounds on bargain buying; zinc spread hits
22-yr high -
more
China not afraid to 'fight back' as markets tumble on trade fears -
more
U.S. Futures, Europe Stocks Gain as Asia Peers Dip: Markets Wrap -
more
ENSO Outlook decreased to El Niño WATCH; positive IOD possible -
more
Monday's
market review - LME lead near 3-year low on deadlock in U.S.-China trade
talks - Prices of lead and other industrial metals fell on Monday, pressured
by concerns over the outlook for the global economy and metals demand as
Washington and Beijing struggled to salvage a deal to end a bitter trade
war. -
more
BHP
to keep Nickel West operations in Australia amid positive battery outlook
- Global miner BHP Group will keep its Nickel West operations in Australia
amid increasing demand for materials used to make batteries, its chief executive
said on Tuesday. -
more
Zero to hero as BHP decides Nickel West is a keeper -
more
Nickel, Lead, and Beryllium: The Top 5 Minerals Mined in the U.S. -
Did you know there are about 3,800 known minerals on earth? No wonder
that with so many minerals available people want to learn more about which
ones are the most mined in order to sell. -
more
Courtesy
AISI - In the week ending on May 11, 2019, domestic raw steel production
was 1,927,000 net tons while the capability utilization rate was 82.8 percent.
Production was 1,808,000 net tons in the week ending May 11, 2018 while the
capability utilization then was 77.1 percent. The current week production
represents a 6.6 percent increase from the same period in the previous year.
Production for the week ending May 11, 2019 is up 0.6 percent from the previous
week ending May 4, 2019 when production was 1,915,000 net tons and the rate
of capability utilization was 82.3 percent. -
more
Palmer
protests QLD Government denial of Townsville port access - Clive Palmer plans
to pursue legal action against the Queensland Government for allegedly refusing
to provide Queensland Nickel Resources with access to the Port of Townsville.
-
more
Throw
in your two cents on proposed Sudbury copper-nickel mine - The Canadian
Environmental Assessment Agency is seeking public comment on the environmental
impact of KGHM International’s proposed mine project near Sudbury. -
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 13
If
you sent an e-mail to this site last week, we did not receive it. Our server
advised us of the problem and that all e-mail's were lost. If you sent one
to us and were looking for a reply, please accept our apologies and request
for you resend it. Thank you.
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.31/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
started this week just over the 169,200 tonne level. Nickel fell sharply
on Thursday and recovered on Friday, so we ended the week about where the
market was on Wednesday. Today, however, the bears have returned and nickel
is lower. Friday's optimism was based on a stronger Euro and hopes that the
trade talks would end positively. They did not. Friday's tariff increases
are in effect - from the old 10% tariff to now 25% tariff. And with a Twitter
tirade over the weekend promising more tariff's coming and threats that a
reelected Trump won't be in the mood to be so generous, it is hard to see
where an agreement will come anytime soon. Stock markets and commodity markets
are sending a strong signal that they disapprove. Lot of news below so we
will leave you to it. Have a great week!
Average price of cash nickel so far this month - $5.44/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - LME lead near 3-year low on deadlock in U.S.-China
trade talks -
more
State govt urged to tackle heavy metal pollution -
more
US-China trade war isn’t buckling copper price – yet -
more
Trump Says U.S. ‘Where We Want to Be’ on China Trade Talks -
more
Kudlow acknowledges US will pay for China tariffs, contradicting Trump -
more
Stocks Slump, Dollar Rises on Trade-Talks Deadlock: Markets Wrap -
more
Friday's
market review - Copper rebounds on hopes for trade deal, but market vulnerable
- Copper and other industrial metals rebounded on Friday on hopes that a
U.S.-China trade deal would be hammered out, but they remained vulnerable
to further friction between the world's two biggest economies. -
more
Copper
to creep higher in coming months - Copper prices are expected to extend their
rebound in coming months as recovering demand in top metals consumer China
and mine disruptions create a larger than expected deficit, a Reuters poll
showed. -
more
China's
Production of SUS Crude Steel in Jan-Mar 6.4341 Mil. Tons = Down by 2% from
year-earlier period, and production of Cr-type and Mn-type products is down
= The Stainless Steel Council of China Special Steel Enterprises Association
announced China's production of stainless crude steel in the period from
January to March in 2019 was 6.4341 million tons, down by 1.5% from 6.5329
million tons in the year-earlier period. -
more
Vale
still confident about nickel prices - A deadly dam disaster in its home country
of Brazil has put Vale SA in the red. On the bright side for Sudbury, however,
the company remains cautiously optimistic about the demand and price for
nickel. -
more
African Battery Metals acquires interest in nickel and PGM project in Botswana
- African Battery Metals PLC has acquired an 18.26% stake in Kalahari Key
Mineral Exploration Ltd. -
more
LME
Considering China Expansion - Although new warehouses have no direct effect
on tin production or consumption, the arrival of the LME into China could
still be significant. -
more
Sherritt
hits 3-billion pounds in nickel production - It was an unlikely milestone
some didn’t think the company would ever see. -
more
Nickel: First Quantum investigating Ravensthorpe re-start - First Quantum
Minerals is investigating the possibility of re-starting its idled Ravensthorpe
nickel/cobalt operation in Australia. -
more
Dutch
firm advances Venezuela slag-to-nickel project - A Dutch company has partnered
with Venezuela´s state-owned mining company CVM to install a slag
reprocessing plant to recover about 3,000 metric tons of nickel from 150,000t
of slag accumulated since 2000. -
more
Palmer
threatens suing for Qld port access - He's got a very notorious record in
Townsville, he's been spending $50 million on the most expensive political
campaign in Australian history, and he still hasn't paid his debt of $1.1
million to the Port of Townsville -
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 9
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.41/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.07/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Wednesday and started
today just over the 170,400 tonne level. The price of nickel fell below the
$12,000/tonne level yesterday, for the first time since January. Nickel has
been in a fairly consistent since May 7th, and a far more choppy decline
since March 4th. The pace of decline has increased dramatically since President
Trump's weekend tweet blew up predictions of a China - US trade deal announcement
this week. Lot of 'blame game' and 'sky is falling' articles out there, but
to understand what the sides are really thinking behind all the noise, we
posted a few articles in the Commodity Comments section, starting with the
Chinese point of view in "Why is China playing hardball...". It won't change
our individual opinions on this matter, but it never hurts to try to understand
'why' our trading partners think the way they do. And we use the term 'partner'
loosely. This is our final update for the week and we hope each of you has
a safe and relaxing weekend. Join us next week and let's hope things have
calmed down a bit and some stability returns to the market.
Average price of cash nickel so far this month - $5.48/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Copper, nickel extend losses ahead of crucial trade
talks -
more
Why is China playing hardball in trade war talks with the United States?
-
more
Trump's China Tariff Threat Could Be His Riskiest Trade Move Yet -
more
China-U.S. trade war disrupting metal markets, sparking volatility: industry
-
more
Trump blows up trade complacency, commodities to feel pain: Russell -
more
Trump Says China ‘Broke the Deal’ in Trade Talks With U.S. -
more
Stocks Drop, Treasuries Rise as Fresh Tariffs Loom: Markets Wrap -
more
Wednesday's market review - Copper nears three-month low before U.S-China
trade talks - Copper fell to a near three-month low on Wednesday on concerns
over a potential resumption of tit-for-tat trade tariffs between the United
States and China ahead of last-ditch negotiations. -
more
Nickel rich batteries are here – but where’s the nickel going to
come from? - The trend toward higher nickel content batteries is expected
to continue – and securing enough nickel has now become a major concern
for the EV industry. -
more
Government targets increase in mining production - Zimbabwe desperately needs
investors in the mining sector given its potential to steer economic growth
towards attainment of an upper middle income vision by 2030, a Cabinet minister
has said. -
more
Batchewana First Nation denies it supported ferrochrome proposal - Batchewana
First Nation is denying a claim by the City of Sault Ste. Marie and Sault
Ste. Marie Economic Development Corp. that it wrote a letter of support for
Noront Resources Ltd.'s ferrochrome processing facility. -
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 8
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.48/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell on Tuesday and start the
day just over the 171,100 tonne level. Cancelled warrants hit the 40% mark
as well yesterday. Nickel, as well as nearly everything else, fell yesterday
as traders turned sour on US and China trade woes. All signs pointed toward
an agreement by this Friday, with the Chinese leader scheduled to meet with
President Trump on Friday. A few days later, and the President is suddenly
tweeting threats to increase tariffs to 25% on Chinese imports on the very
day he is supposed to meet with the Chinese President. Understandably, world
markets are more than a little rattled. In the stainless steel market, orders
that would have other wise been placed, are on hold, as end users who can
afford to wait, do so to see where nickel and stainless steel prices will
bottom out. While nickel prices increasing are stressful for stainless steel
distributors, with price increases in stainless steel product sometimes coming
daily, price drops are nearly as bad, with inventory suddenly overpriced
for the market and customers waiting for and/or demanding lower prices. This
is when gross profit margins can take a hit. The volatility of nickel, while
beneficial to traders, can sometimes be inconvenient for those who actually
work with the material.
Average price of cash nickel so far this month - $5.60/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Most Shanghai metals ease ahead of U.S.-China trade
talks -
more
Trump's Section 232 Tariffs Cost $900K for Every U.S. Steel Sector Job -
more
China backtracked on nearly all aspects of US trade deal: Sources -
more
U.S. Futures, Europe Stocks Turn Lower; Pound Dips: Markets Wrap -
more
Tuesday's market review - Copper heads towards February lows as trade
tensions rise - Copper prices fell on Tuesday towards 2-1/2 month lows hit
last week on worries about demand after U.S. President Donald Trump said
he would raise tariffs on Chinese goods before U.S-China trade talks. -
more
Poor
output, orders for stainless steel lower downstream nickel PMI for Apr -
The purchasing managers' index (PMI) for the downstream nickel industries
again fell below 50, to 42.55 in April, after it sharply gained 17.32 month
on month to 64.65 in March, showed SMM data on Wednesday May 8. A reading
below 50 indicates contraction. -
more
Price of SST Sheet in Asia on a Decline - The price of stainless steel (SST)
sheet in the Asian region has shown signs of decline. Some observers are
voicing concern that the downward movement may accelerate in May. -
more
Blackstone to acquire Vietnamese nickel project - After a period of relative
quiescence, ASX listed and battery metal focussed small cap explorer Blackstone
Minerals has burst back into life securing an option to acquire 90% of the
prospective Ta Khoa nickel project in Vietnam, including the mothballed Ban
Phuc underground nickel mine. -
more
Noront
chooses Sault Ste. Marie - Noront Resources has selected Sault Ste. Marie
to be the host of its ferrochrome processing facility. CEO Alan Coutts said
the lower operating costs over the 100-year period, is what set Sault Ste.
Marie out from Timmins. -
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 7
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.53/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
off nickel stored in LME licensed warehouses fell on Thursday and Friday
and started the shortened week just under the 172,800 tonne level. Nickel
is lower this morning, and while it continues a month long downward trend,
the tariff threat over the weekend by the President surely did not help matters.
The new threat to increase tariff's from 10 to 25% if an agreement is not
reached by Friday, appears to be counter productive at this stage of the
game - unless things were not going as well as we were being led to believe.
Traders appear to fear the worst, with markets around the world reacting
negatively to the tweet. Nickel is now trading where it was back in late
January - at the moment, January 29th to be exact. It also trading below
another minor support line. On the supply/demand front, the news as more
bullish. Tesla is forecasting a possible shortage for nickel in the near
future, and Eramet in New Caledonia, which has seen its mines there plagued
with sabotage, has possibly not yet seen the end of such actions with another
fire hurting operations there. Have a great week!
Average price of cash nickel so far this month - $5.51/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - London base metals mixed amid renewed U.S.-China
trade tensions -
more
Faltering Metals Get Check-Up as Industry Gathers in Hong Kong -
more
Domestic steel sheet prices already mirroring slower US growth: S&P Global
-
more
Stocks Decline as Trade Concerns Linger; Oil Dips: Markets Wrap -
more
Friday's
market review - Copper jumps on weaker dollar but logs weekly loss - Copper
rose on Friday on a weaker dollar and expectations for progress in U.S.-
China trade talks, but the move higher was not enough to rescue prices from
their worst week since November. -
more
Trump blows up trade complacency, commodities to feel pain: Russell - U.S.
President Donald Trump has just given commodity markets a reminder that stormy
waters can blow up quite quickly even if the voyage ahead was looking like
smooth sailing. -
more
Tesla
Manager Sees Risk of Battery-Minerals Shortage in Future - Booming demand
for electric vehicles and insufficient investment in mines could result in
a global shortage of minerals needed to manufacture rechargeable batteries
in a few years’ time, a Tesla Inc. representative told U.S. officials
and mining executives in a meeting in Washington. -
more
New Caledonia mine site hit by fire - Local media reports said a stretch
of the conveyor belt which feeds nickel ore to the coast for shipping to
the SLN smelter in Noumea has been burnt. -
more
Japanese
stainless steel exports drop in 2018 y-o-y - According to the statistics,
Japan exported a total of around 976,000 tons of stainless steel products
in 2018, dropping by 1.5% compared to the previous year. -
more
Molybdenum demand unaffected by short-run oil price volatility - The
oil and gas sector is a significant, albeit hugely volatile, source of molybdenum
demand. -
more
First
Quantum could restart Ravensthorpe amid surging nickel prices - First Quantum
Minerals has signalled the potential comeback of its Ravensthorpe nickel-cobalt
operation in Western Australia next year if commodity prices continue to
rise. -
more
Retired
Forest Service officials raise concerns about Twin Metals - In northeast
Minnesota, two new copper-nickel mining projects on the fringe of the state's
Iron Range are inching closer to reality. -
more
Minnesota environmentalists step up fight against Twin Metals’ copper
project -
more
Courtesy
AISI - In the week ending on May 4, 2019, domestic raw steel production was
1,915,000 net tons while the capability utilization rate was 82.3 percent.
Production was 1,796,000 net tons in the week ending May 4, 2018 while the
capability utilization then was 77.6 percent. The current week production
represents a 6.6 percent increase from the same period in the previous year.
Production for the week ending May 4, 2019 is up 1.1 percent from the previous
week ending April 27, 2019 when production was 1,895,000 net tons and the
rate of capability utilization was 81.4 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
Thursday, May 2
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.54/lb. Indicators
at 6:20 am CST today show 3 month nickel trading unchanged
from last night's
close. Stockpiles of nickel stored in LME licensed warehouses was also
unchanged from yesterday.
There was a famous line in "Raiders of the Lost Ark", where the German agent
sat down in front of the professor and his friend and stated "what shall
we talk about?". With unchanged inventories, unchanged trading prices, and
China closed for a holiday, we have to wonder "What shall we talk about?".
Let's run down other news, shall we? The Euro is off yesterday's highs, which
is way off last months highs. The China stainless steel index we follow is
down over 3% from a month ago, and nearly 2% from last quarter. China steel
futures are on the rise again, and back to where they were a few weeks ago.
And finally, the press is reporting a possible trade deal agreement is in
the works between China and the U.S. and could be finalized by next Friday.
China will reopen and be back in business on Monday, but the London Metal
Exchange will be closed Monday for a holiday. It's called an Early May Bank
holiday. So our next update will be on Tuesday. Another month is in the history
book's, and for nickel, it was rather brutal, with the gains from February
and March, evaporating. Since January was a very healthy month, we are still
up year to date, while year on year, we are down even more. What will May
and the coming summer bring? Stay tuned. Have a safe and relaxing weekend,
and we will see you next week.
Average price of cash nickel so far this month - $5.50/lb
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Most metals rise on trade talk progress; zinc dips
on ample stocks -
more
Glencore shares close lower after production targets are revised -
more
Stocks Mixed as Focus Turns to Earnings and Trade: Markets Wrap -
more
Wednesday's market review - Copper drops to one-month low on selling
by computer funds - Copper prices slid to their lowest in a month on Wednesday
as computer-driven funds unleashed selling following an options expiry amid
disquiet about demand in top metals consumer China. -
more
Copper
to creep higher in coming months as China recovers - Copper prices are expected
to extend their rebound in coming months as recovering demand in top metals
consumer China and mine disruptions create a larger than expected deficit,
a Reuters poll showed. -
more
Further World Stainless Steel Production Records Forecast - Worldwide crude
stainless steel production, in 2018, reached an all-time high total of more
than 50.7 million tonnes. -
more
Indonesian stainless steel imports hit 2019 new high in Mar - According to
the statistics, Indonesia imported a total of around 140,000 tons of stainless
steel in March, significantly rising by 98.55% compared to the previous month,
also up by 18.10% from the same month a year ago. The imports in March hit
a new high in 2019. -
more
Queensland Nickel makes claim for Yabulu Refinery rail operations - Clive
Palmer-owned Queensland Nickel has applied to be the rail operator for the
Yabulu Nickel Refinery operations in North Queensland. -
more
Yuri
Kozyrev's best photograph: Norilsk, one of Earth's most polluted places -
This Arctic city was built by Russian prisoners in the late 1930s to meet
wartime demand for metal. There are graveyards everywhere -
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 1
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.56/lb. Indicators
at 6:15 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel store din LME licensed warehouses fell on Tuesday and started today's
session just under the 173,100 tonne level. After a week of doing very little,
nickel finally made a noticeable move yesterday,.but not in the direction
nickel miners hoped for. At the moment we show it is still trading below
support, after closing below last night. this may or may not send another
negative technical signal, depending on whether you buy into the theory or
not. Nickel needs to find the floor, but where that will be, is anyone's
guess. It could depend on the China-US trade talks, but at this point, the
market has soured on nickel so quickly, that even that positive news may
have little effect on the traded price. Case in point - the Euro is stronger
for a second day, with nickel pretending not to notice. Nickel stockpiles
fell an average of 479.4 tonnes per trading day in April, down from 683.71
tonnes per day in March, but higher than January and February numbers. After
four months, LME stockpile numbers have fallen from just over 207,300 tonnes
to just over 173,000 tonnes. Today begins a new month, the fifth of 2019.
May it be a prosperous and personally rewarding one for you.
Average price of cash nickel so far this month - $5.81/lb (average for April)
Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb
/ 2016 - $4.36/lb / 2015 - $5.37/lb /
Reports
Reuters metals morning - Copper prices climb as U.S-China trade talks start
-
more
Political Uncertainty Unnerves Business Confidence in Several Emerging Markets
-
more
U.S. Futures Advance, Treasuries Steady Before Fed: Markets Wrap -
more
Tuesday's market review - Copper prices rise despite weak Chinese factory
data - Copper prices rose on Tuesday as investors bet that top consumer
China would respond to weak factory data by implementing fresh stimulus measures.
-
more
North
American Stainless press release - For the month of May 2019, North American
Stainless will increase the fuel surcharge to 26% for stainless flat and
long products. The surcharge rate is considered a maximum level for May and
will be reviewed monthly. -
source
China's
metals imports robust despite macro doubts: Andy Home - Industrial metal
markets are taking a breather as they await tangible evidence that China’s
latest stimulus package is feeding through to a flagging manufacturing sector.
-
more
Nickel
Monthly News For The Month Of April 2019 - Nickel spot prices were slightly
lower in April, as the LME inventory fell yet again approaching a 7-year
low. -
more
China's
CATL starts mass production of high-nickel batteries: chairman - Contemporary
Amperex Technology Co Ltd (CATL), China’s biggest maker of batteries
for electric vehicles, has begun mass production of high-nickel batteries,
its chairman told investors last Friday. -
more
Sir Arvi Parbo: Humble man who struck it rich in Australia - Sir Arvi Parbo
should have been the poster boy for Australia's post-war immigration policy.
A foreigner and outsider, he came to Australia with no family connections
or advantages but rose to become one of our top businessmen. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(7:00 AM CST is 12 PM in London)
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.02/lb
Reports
Commodity/Economic Comments
Wednesday's market review - Copper hits near 5-month low after China-U.S.
tension flares - Copper prices slumped to the lowest in almost five months
on Wednesday on fears an escalation in US-China trade tension will damage
economic growth and curb metals demand. -
Price
of HC FeCr in China Continues to Go down Gradually = Production makes recovery
in Inner Mongolia and import goes up = The price of high-carbon ferro-chrome
in the Chinese domestic market has continued to go down gradually also in
May. -
Taiwan's
Yusco remains stainless steel prices unchanged for Jun - Yieh United Steel
Corp, the largest integrated stainless steel mill in Southeast Asia, announced
its domestic and export prices of stainless steel for June today (May 30th).
- 
Philippines says Q1 nickel ore output rises 3% on year - The Philippines'
nickel ore production in the first quarter rose 3% from a year earlier to
2.97 million dry metric tonnes, despite zero output from more than half of
the country's 28 mines, the government said on Thursday. -
US
authorities Relax Section 232 Measures - Steel selling values, in the United
States, continue to be among the highest in the world. Nevertheless, local
steel manufacturers are struggling to minimize the extent of recent price
erosion, across flat and long products. -
Commodities Markets Can Provide Valuable Insights into the State of
the Global Economy - Notwithstanding the recent correction associated with
renewed trade tensions between the U.S. and China, a strong start to the
year for global equity and commodities markets suggests a strong macroeconomic
backdrop and a high risk appetite among investors. -
. Indicators at
6:20 am CST today show 3 month nickel trading around $.05/lb
Muted
Chinese stainless steel production, trade dispute results in nickel price
dip - Fitch Solutions Macro Research has revised its nickel price forecast
for this year down to $13 250/t, compared with its previous forecast of $14
500/t, as prices have headed lower in recent weeks. -
Indonesia's Export of Stainless Steel Semi-products in March 2019 = Ingot
is 50,000 tons and flat roll is 190,000 tons = Indonesia's foreign trade
statistics shows the export volume of stainless steel semi-products in March
2019 was 49,829 tons of ingot (slab/HS: 7218) which made a recovery from
the prior month (151 kgs). -
Most new plants use low-scrap input despite cost and environmental pluses,
says analyst - There are some powerful reasons for mills to favour the use
of stainless steel scrap over virgin materials, not least that it is “the
lowest cost option” for consuming mills and the subject of “very
competitive pricing at the moment”. -
POSCO's stainless steel production & sales increases in Q1 - It was reported
that in the first quarter of 2019, POSCO's stainless steel output was around
500,000 tons, up from 470,000 tons in the previous quarter and 490,000 tons
in the same period a year ago. -
Mincor drives nickel portfolio through purchase of IGO operation - Independence
Group has sold its Long nickel operation in Western Australia’s Kambalda
district to Mincor Resources for up to $9.5 million. -
Market
Trend of Import of Ferroalloy as of 15 May 2019 = While many of products
show tapering down trend, molybdenum bounces back = The market trend of import
of ferroalloy as of 15 May 2019 is as follows. -
Increasing
production may put pressure on Nickel prices - With no concrete conclusion
coming out of the months long trade spat between Washington and Beijing coupled
with narrowing global deficit, we expect MCX Nickel prices to go lower towards
Rs 800 per kg. -
Organic
waste reclaiming mine waste produces award-winning solution - Sudbury nickel
miner Vale and an industrial waste management company have come up with an
award-winning organic solution toward covering mine tailings near the smelter
in Sudbury. -
The
world’s nickel capital Norilsk is gripped by eternal winter - If you
live in Siberia, you’ve got to be either born with an unbreakable sense
of humour, or to grow one quickly to survive its tough climate and unpredictable
weather. -
Acerinox
expects higher earnings on improved inventory - Spanish stainless steel producer
Acerinox forecasts higher earnings in the second quarter as a result of
"reasonable" US inventory levels, despite a decline in production from the
prior year period. -
If
you sent an e-mail to this site last week, we did not receive it. Our server
advised us of the problem and that all e-mail's were lost. If you sent one
to us and were looking for a reply, please accept our apologies and request
for you resend it. Thank you.
African Battery Metals acquires interest in nickel and PGM project in Botswana
- African Battery Metals PLC has acquired an 18.26% stake in Kalahari Key
Mineral Exploration Ltd. -
Dutch
firm advances Venezuela slag-to-nickel project - A Dutch company has partnered
with Venezuela´s state-owned mining company CVM to install a slag
reprocessing plant to recover about 3,000 metric tons of nickel from 150,000t
of slag accumulated since 2000. -
Government targets increase in mining production - Zimbabwe desperately needs
investors in the mining sector given its potential to steer economic growth
towards attainment of an upper middle income vision by 2030, a Cabinet minister
has said. -
Blackstone to acquire Vietnamese nickel project - After a period of relative
quiescence, ASX listed and battery metal focussed small cap explorer Blackstone
Minerals has burst back into life securing an option to acquire 90% of the
prospective Ta Khoa nickel project in Vietnam, including the mothballed Ban
Phuc underground nickel mine. -
New Caledonia mine site hit by fire - Local media reports said a stretch
of the conveyor belt which feeds nickel ore to the coast for shipping to
the SLN smelter in Noumea has been burnt. -
from last night's
close. Stockpiles of nickel stored in LME licensed warehouses was also
