This
page is archived news covering the period of October 2013
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Thursday, October 31
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.62/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Wednesday and now
totals 237,576 tonnes. Cancelled warrants nearly hit 29% on Wednesday as
well. For October 2013, stockpiles reached record levels 15 times over 23
reporting days. Markets around the world fell after yesterday's Fed announcement,
not because of anything they did, but what they didn't say. The stimulus
addicted markets want to hear the free money will continue to flow and stoke
the markets. And while the Fed did not stop this flow going into November,
or even hint they might stop it anytime before 2014, they did not make blanket
promises to the markets that the flow would go on for forever. So markets
are throwing a little tantrum, and some are taking some profits after this
weeks big jump. Nickel ended September at $6.32/lb and at teh moment, is
trading about $.25/lb higher than that.
Average price of cash nickel so far this month - $6.37/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) Yusco leaves stainless steel prices flat for November
(Law360) The Sixth Circuit on Wednesday backed a lower court's decision not
to halt a $1 billion Kennecott Eagle Minerals Co. nickel and copper mine,
saying the federal environmental laws cited by the private club plaintiffs
do not compel government intervention.
Sherritt breaks even in Q3 -
more(quote - For the full year, Sherritt expects
to produce 67,000 tonnes of sulphides, 60,000 tonnes of nickel and 5,550
tonnes of cobalt. It forecasts spending on capital to reach $248 million.)
(FAN) Turkey raises import duty for stainless CRC
Slideshow: Latest 3D Printing Materials Include Nickel Alloy
- more
(SSY) The world export price of hot rolled band dropped to a 3-month low
of $555/t at the end of October, according to the latest SteelBenchmarker
published by World Steel Dynamics.
China revives steel fastener trade dispute with EU -
more
Morgan Stanley
sees weak medium-term nickel prices - Global nickel markets will likely stay
weak over the next few years as demand remains low and oversupply continues,
Morgan Stanley chief metals economist Peter Richardson said Wednesday. -
more
New Record
High For Global Stainless Steel Output This Year - World crude stainless
steel output is forecast to reach an all-time high figure of 36.4 million
tonnes in calendar year 2013. -
more
BHP Billiton
Australian nickel mine hit by small quake - BHP Billiton's Leinster nickel
mine in Western Australia was hit by a small earthquake early on Thursday,
and all workers have been brought out from the underground mine safely, the
company said. -
more
Prices of
CR Austenitic Stainless Sheets = They become an environment to be able to
expect $2,500 CFR - Prices of cold-rolled (CR) austenitic stainless steel
sheets in the Asian region have shown a sign to recover rapidly. -
more
Finnish
state considering rescue of struggling miner Talvivaara - Finnish nickel
miner Talvivaara, struggling for cash just months after its latest fundraising,
could be rescued by the government with a package focused on debt relief,
sources familiar with the discussions said yesterday.
- more
Australian
Mining Magnate Palmer Wins Recount for Seat - Mining magnate Clive Palmer
will become an Australian lawmaker, adding to three Senate seats his Palmer
United Party may claim in the wake of the Sept. 7 election. -
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 reports and information
free of charge.Contact
us
Wednesday, October 30
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.61/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mostly higher as well. After taking a few
days off from record breaking gains, stockpiles of nickel stored in LME licensed
warehouses rose to yet a new all time record high on Tuesday and now total
236,958 tonnes. This is the fifth time this month that stockpiles have gained
by over 1000 tonnes in a single day, and the second time they rose by over
2,000 tonnes. Of the 15 days recording gains so far this month, 14 of them
were enough to set a new all time record high. An adviser to the Indonesia
mining ministry is telling Bloomberg he doubts Indonesia will go thru with
a total ban of ore exports in January. While not speaking for the government,
his argument of the need of the revenue generated by these exports, is one
we have heard numerous times before, and appears to be more than just propaganda.
We will have to wait and see, but this may take out some of the speculative
motive for some traders. Looking at the nickel chart, it appears we are seeing
a technical flag signal - or triangle signal setting up. This is sometimes
a setup for a sharp breakout, either to the positive or negative. So far
today, we remain inside the ever shrinking triangle.
Average price of cash nickel so far this month - $6.36/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Xinhua) Stockpiles of iron ore at 25 major ports in China continued to grow
last week, marking the third consecutive week of growth, according to a Tuesday
report by Xinhua News Agency.
(FAN) Today, Tsingshan Steel finalized its HC ferrochrome purchase price
for November 2013, which is 6846.6 RMB/T (by cash, with tax and freight).
This price is unchanged over last month.
(SM) According to weekly data released by the China Iron and Steel Association
(CISA) , the aggregate daily crude steel output of large and medium sized
member enterprises declined by 2.97% during mid-October (October 11th to
20th) compared to early-October (October 1st to 10th).
(MF) Baosteel Stainless leaves domestic stainless coil prices flat for November
(AM) Japanese stainless scrap price flat
(AM) India's Jindal Stainless sees net loss in Q2
LME Margin Rate Changes - more
North American
Stainless Press Release - For the month of November 2013, North American
Stainless will maintain the fuel surcharge at 33% for stainless flat and
long products. The surcharge rate is considered a maximum level for November
and will be reviewed monthly. -
source
North American Stainless New Products Announcement -
more
Indonesia Seen Avoiding Total Ban on Mineral-Ore Exports in 2014 -
Indonesia may refrain from a complete ban on mineral-ore shipments in 2014
as the country needs the revenue to offset declining income from the oil
and gas industry, said an adviser to the industry ministry. -
more
RamuNiCo
seeks to boost output - RamuNico is adopting stringent measures to improve
its production while reducing deficit in the second-half of this year, the
company said in a recent newsletter. -
more
KWG to patent new cheaper, cleaner ferrochrome process - KWG Resources, that
is earning an 80% interest the Black Horse chromite deposit in Ontario's
Ring of Fire, has filed a patent application for a new method of refining
chromite ore into ferrochrome using natural gas. -
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 reports and information
free of charge.Contact
us
Tuesday, October 29
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.58/lb. Indicators at 6:50
am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading mostly positively, but quietly. Stockpiles
of nickel stored in LME approved warehouses fell for a second session and
now totals just over the 234,200 tonne level. The 20, 40 and 100 day moving
average of traded nickel are all currently within $50 of the $14,000 tonne
level, with the 20 day moving higher, 40 day average leveling off, and 100
day still moving lower. Cancelled warrants for nickel continue to register
in the high 20% range, with only the first day of the month reading below
20%. With stockpiles setting all time record highs nearly daily, and cancelled
warrants running at record highs, the amount of nickel being bought and held
by investors is unprecedented. The Shanghai Metals Market is reporting the
Philippines is looking at raising the taxes on exported nickel ore to China.
Many believe this is the coarse fo action that indonesia will eventually
take, after backing off their total export ban deadline. This is still up
in the air however, and until this ban is cancelled, nickel prices could
remain volatile. Some of the market activity this week is being caused by
bets that the US Fed will continue stoking the US markets with stimulus,
and any tapering will be a 2014 possibility.
Average price of cash nickel so far this month - $6.35/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) The Philippines may raise export tax on its nickel ores from 2% to
7% in 2014, which will push up prices for the Philippine material, Shanghai
Metals Market understands.
(SSY) China's daily steel production for the ten day period from 11-20 October
was down by 1% from the previous ten days to 2.107 Mt, according to data
from the China Iron and Steel Association. This represents the lowest daily
rate since late August.
Beijing to ban half of private cars on high-pollution days -
more
Russia's
stainless steel imports rise 5.6% in Sep 2013 - According to SpetsStal's
appraisal, the volume of stainless steel imports to Russia in September 2013,
compared with August, rose 5.6% to 20,339 tons. -
more
Selling
their nickel for a dime - Communities on stunning Halmahera Island in North
Maluku that have acted as the custodians for biodiversity for generations
are being economically displaced for a nickel mine. -
more
Bradford:
Keep Eye on Construction, Raw Material Costs in 2014 - The auto industry
garners more of the headlines, but nonresidential construction is actually
the largest consumer of steel in the United States. -
more
Courtesy AISI
- In the week ending October 26, 2013, domestic raw steel production was
1,817,000 net tons while the capability utilization rate was 75.8 percent.
Production was 1,692,000 net tons in the week ending October 26, 2012, while
the capability utilization then was 68.0 percent. The current week production
represents a 7.4 percent increase from the same period in the previous year.
Production for the week ending October 26, 2013 is down 1.0 percent from
the previous week ending October 19, 2013 when production was 1,835,000 net
tons and the rate of capability utilization was 76.6 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, October 28
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.55/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses took a break from breaking daily records and backed
off a little on Friday to end the week holding nearly 235,000 tonnes worth
of nickel. Minor resistance was established last week at $6.64/lb, while
we put major resistance more around the $7/lb level. After three consecutive
days ending in the red, nickel has rebounded this morning, but off earlier
highs and fading. As long as Indonesia delays any change to their export
ban policy, we expect nickel to remain volatile, and potentially grow more
volatile as the January 1st deadline nears. As the largest supplier of unrefined
nickel ore to China, Indonesia's decision will have an impact, but to what
degree remains left to speculation.
Average price of cash nickel so far this month - $6.34/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Australia, Indonesia, Mozambique's take different commodity paths: Clyde
Russell -
more
Universal Stainless Reports Preliminary Third Quarter 2013 Results -
more
Rising
metals inventories cause concern - U.S. Steel is a 112-year-old, Pittsburgh-based
company, developed after J.P. Morgan bought Andrew Carnegie’s steel
works in 1901 and merged it with his other smaller steel operations. -
more
BHPB's
Production of Ferroalloy and Nickel in Jul-Sept 2013 =Compared to production
of year-earlier period, Mn ore is down and Mn alloy is up= On October 22,
BHP Billiton Limited (BHPB) announced its production results in the period
from July to September in 2013. -
more
Steel firm
to fight US probe - The country's largest flat-rolled alloy steel producer,
Wuhan Iron and Steel (Group) Corp, said Sunday that it will respond in a
proactive manner to an anti-dumping investigation launched Friday by the
US Commerce Department. -
more
KWG Resources Files Patent Application - KWG Resources has filed a patent
application for a new method of refining. “It would appear that this
process, combining North America’s newly discovered high grade chromite
with its also newly discovered wealth of natural gas, could usher a new paradigm
into the stainless steel making world,” said KWG President Frank Smeenk.
-
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 reports and information
free of charge.Contact
us
Friday, October 25
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.57/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to yet another all tie record high, after
yet another 1000+ tonne single day receipt. The new warehouse total
sits at 235,278 tonnes, with the gain over the last 7 consecutive days recorded
at 6,654 tonnes. Hard to justify price increases with stockpiles continuing
to gain at such a sharp rate. Very little market news otherwise. Right now
we are trading about where Monday closed, but this was nearly $.25/lb higher
than the low close of the prior week. Looking at the past few weeks movements
in traded nickel, it would be easy to say the bull is in trouble, but we
wouldn't set out the barbecue just yet. Fundamentally, nickel looks weak.
Technically, nickel will signal a negative signal today, if it closes below
$6.50/lb. And lastly, nickel sent a sell signal to those who trade on karma,
when cancelled warrants totalled 666,066 tonnes on Tuesday. We try not to
be that superstitious, but the fact nickel spiked so high just a few days
before two simultaneous shipments totalling 3,642 arrived into warehouses,
sending a major negative message to what should have been a deeply pessimistic
market, did get our attention. A market conspiracy anyone - or just an example
of a bluff that paid off and forced the market sharply higher on short covers.
Either way - for a time there the market was volatile and reminded all of
those in the world of stainless steel - why nickel prices trading at a boring
level day after day after day - is a blessing. Enjoy your weekend!
Average price of cash nickel so far this month - $6.33/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
China's manufacturing hits 7-month high: HSBC -
more
China
Ferrochrome: Chinese buyers shun imports for now - Spot prices for high carbon
ferrochrome and charge chrome imported into China remained steady this week
with trade activities remaining muted as buyers stayed on the sidelines ahead
of the settlement of November bid prices by Chinese major stainless steelmakers.
-
more
Big miners offer bleak outlook for gold, metals - Earnings season offers
traders extra tools to gauge the outlook for commodities such gold and oil.
For metals, the prognosis isn’t good. -
more
Zimbabwe:
BNC Mining Plan Bears Fruit - Bindura Nickel Corporation's revised mining
plan has started bearing fruit after a marked increase in recoveries and
a decline in costs, figures from parent firm Mwana Africa Plc' latest trade
update show. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Thursday, October 24
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.64/lb. Indicators
at 7:00 am CST today show 3 month nickel trading flat with little change,
and other London traded base metals basically on hold as well. Some are up
slightly, some are down, but none are making a noteworthy move in either
direction. Stockpiles of nickel took a big jump yesterday, and that means
another new all time record high mark. Even by LME standards, a single day
gain of over 2400 tonnes will raise eyebrows, and with it coming on the back
of record stockpiles, a few groans are sure to follow. Your new record high
is 234,084 tonnes. While off Tuesday's high, we show the traded price of
nickel remains above the earlier line of resistance, for a third day, and
this sends a bullish technical signal. The record breaking stockpiles sends
a negative fundamental signal. Parties are looking to see what is happening
in China, and outside its borders to events that may effect nickel production
there - for directional guidance.Will Chinese demand continue to grow
- and will an Indonesia export ban on unprocessed nickel ore into China actually
occur? The bigger question at this point may be - how many more nickel mines
are going to have to cease operation before supply stops exceeding demand.
We have some operations already shut down, but when you see one day gains
in the stockpile numbers like we did yesterday, coming on the heels of five
consecutive growth days, one has to wonder how much surplus is really out
there.
Average price of cash nickel so far this month - $6.32/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
(Reuters) South Korea bought a total of 320 tonnes of nickel for arrival
by Jan. 30 via tenders closed on Wednesday, the state-run Public Procurement
Service said on its website (www.g2b.go.kr).
(MF) Korea’s stainless HRC imports rise in September
BHP's
outlook optimistic, AGM hears - BHP Billiton says the global economy is picking
up, with positive signs in the US and Japan, boding well for plans to drive
an 8 per cent increase in overall production over the next two years and
for shareholders hoping for capital returns. -
more
Merafe
Q3 ferrochrome production up 71% - JSE-listed ferrochrome producer Merafe
Resources on Thursday reported that its third-quarter attributable production
from the Glencore-Merafe chrome venture increased by 71% year-on-year, as
a result of additional planned production, good performance of the Lion 1
project and the impact of major production improvements at the venture’s
Rustenburg plant. -
more
POSCO
cuts 2013 sales outlook; Q3 profit nearly halves - South Korea's POSCO cut
its 2013 sales target by 3 percent on Thursday as the world's fifth largest
steelmaker struggles to win orders away from Asian rivals also scrambling
in an oversupplied market. -
more
Norilsk
Nickel Corporate Video Awarded at Festival in Cannes - At the 4th international
Cannes Corporate Media & TV Awards customarily held in October in Cannes,
France, Norilsk Nickel’s publicity video Our Metals has been given a
Silver Dolphin. -
more
Reach for a new career - France Capon on why expertise in the nickel
industry will be relevant for years to come -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Wednesday, October 23
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.69/lb
. Indicators
at 6:40 am CST today show 3 month nickel trading around $.12/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME licensed warehouses rose to a new all time record high for a fifth
straight session and nw total 231,636 tonnes. After one of biggest one day
jumps in nickel prices this month, and a reminder to stainless steel buyers
around the world of more volatile times in years past, nickel is taking a
break in its bullish run on rising Chinese short term interest rates. Inflation
is the concern in Asia, while deflation is a concern in Europe. Asian markets
ended lower overnight, European markets are lower this morning, and US futures
signal a weaker opening for Wall Street. While the media, who feels a duty
to explain why everything happens, is blaming the recent increase in nickel
prices on the potential Indonesia nickel ore ban of January 2014, we feel
this is mostly a technical run, with the Indonesia situation the excuse.
Stockpiles continue to increase, with supply far out weighing demand. In
our opinion, this is a post LME Week bull run, which we have seen before.
Analysts met during the week, and shared notes on what they felt, and possibly
left with new perspectives. They know that as long as the Indonesia situation
remains in question, the market will be volatile, whether the effect of such
a ban would have a major effect on the supply/demand situation, or not. We
suspect yesterday's sudden jump was partially short covering, as traders
covered earlier bets. Today, the question of Chinese interest rates has put
the brakes on the bull, but what tomorrow will bring, is what keeps market
watching interesting, and trading nickel profitable.
Average price of cash nickel so far this month - $6.30/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Strategies for Success in a Flat Commodity Price Market -
more
China leads world's steel production in Sept -
more
AK Steel Reports
Financial Results for Third Quarter of 2013 - AK Steel reported a net loss
of $31.7 million, or $0.23 per diluted share of common stock, for the third
quarter ended September 30, 2013, compared to a net loss of $60.9 million,
or $0.55 per diluted share, for the third quarter of 2012 and a net loss
of $40.4 million, or $0.30 per diluted share, for the second quarter of 2013.
-
more
TVI
eyes partner for Agata nickel project - Canadian firm TVI Pacific on Tuesday
said it was in talks with a potential partner for the infusion of $11.5 million
into the Agata nickel project in Agusan del Norte for the development of
a direct shipping ore operation in the area. -
more
Failure
to pay pushes Mirabela into mire - Mirabela Nickel has slumped deeper into
the mire, confirming yesterday it had failed to make an October 15 interest
payment on its $US395 million ($409 million) of bonds. -
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 reports and information
free of charge.Contact
us
Tuesday, October 22
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.50/lb. Indicators at
6:45 am CST today show 3 month nickel trading around $.17/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses hit another all time record high on Monday, with
stockpiles reaching 231,480 tonnes. Ten of the sixteen reporting days so
far this month have seen new record levels reported. While the Euro is lower
this morning, base metals are trading much higher, and the post LME Week
run appears to be now feeding on itself. We have the next technical level
of resistance at $6.51/lb, but that has been surpassed already today. The
$7.00/lb line could be the next target if the run continues. While traders
are starting to gamble that Indonesia will keep its January 2014 export ban
in place, much of this bullish run is technically based. Cancelled warrants
are running at record levels, averaging in the mid twenty percentile range,
and in the high twenty's the last two days. The average price of stainless
steel in China is starting to inch up. The major US stainless steel producers
reported November surcharges today and AK Steel shows no change in 304, and
a slight decrease in 316 stainless steel surcharges.
Average price of cash nickel so far this month - $6.28/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel
glut extends to fourth year on China supply - The global glut of nickel will
extend into a fourth year in 2014 as new technology lowers costs for Chinese
furnaces producing record amounts of a lower-grade substitute that helped
drive prices into a bear market. -
more
China Nickel
Imports and Exports Data September 2013 - The General Administration of China
Customs released data of China's September imports and exports of nickel
on October. 21st(Unit: mt) -
more
French
Mining Group Warns Nickel Industry ‘Overcapacity’ - The French
mining group Eramet, hit by the slumping nickel market, is warning of more
losses and the need to reduce costs. -
more
Third
Time’s the Charm for Sudbury Basin Collaboration? - It’s no secret
that nickel prices aren’t doing as well as they could be — the
International Nickel Study Group recently revealed that the global nickel
market recorded a surplus of 108,200 tonnes in the first eight months of
2013, and some analysts believe that it will take a year or two for a turnaround
to occur. -
more
Production
of Molybdenum Concentrates by Kennecott, USA in Jul- Sept =2.65 million lbs
in pure Mo equivalent, down by 51% from year-earlier period= The quantity
of molybdenum concentrates produced at Bingham Canyon Mine by Kennecott Utah
Copper in the period from July to September in 2013 was 1,200 tons in pure
Mo equivalent (equivalent to 2.65 million lbs), which represented a drastic
decrease of 51% versus 2,500 tons (= 5.51 million lbs) of the year-earlier
period. -
more
Courtesy AISI
- In the week ending October 19, 2013, domestic raw steel production was
1,835,000 net tons while the capability utilization rate was 76.6 percent.
Production was 1,692,000 net tons in the week ending October 19, 2012, while
the capability utilization then was 68.0 percent. The current week production
represents a 8.5 percent increase from the same period in the previous year.
Production for the week ending October 19, 2013 is down 0.6 percent from
the previous week ending October 12, 2013 when production was 1,847,000 net
tons and the rate of capability utilization was 77.1 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, October 21
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.45/lb. Indicators at
6:50 am CST today show 3 month nickel trading around $.07/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel rose
to another all time record high on Friday, and now total 230,760 tonnes.
One year ago today, stockpiles recorded 127,512 tonnes and nickel was selling
at $7.71/lb. The short term trend in nickel is now positive, with a distinctive
curve upward in average pricing since October 10th. The mid term trend remains
neutral, while the long term trend remains negative. Nickel is trading up
short term resistance of $6.45/lb today, and two consecutive closes above
this mark could signal further technical advances. Traders are also betting
some of the delayed economic news coming out of the US this week, will signal
further strengthening in the economic recovery.
Average price of cash nickel so far this month - $6.26/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SMM) China’s production of nickel pig iron (NPI) rose sharply in September
as high-grade producers ramped up production on higher prices, according
to a survey by Shanghai Metals Market.
(SMM) Ramu NiCo Management (MCC) Ltd. has achieved 84% of its designed capacity
for making nickel-cobalt intermediate at China’s largest overseas
laterite-nickel ore mine (Ramu).
(MF) Japan’s stainless steel output falls in August
Nickel approaching critical long-term support -
more
(CCTV) China's daily steel production for 1-10 October edged down 1% from
the level recorded during the last 10 days of September to 2.128 Mt, according
to data from the China Iron and Steel Association.
As China's economy grows, so does reform call -
more
What Premier Wynne Needs to Learn From Finland -
more
Mining group Eramet plans more savings as nickel stays weak - Eramet
on Monday said it would step up cost saving measures to counter the effects
of a depressed nickel market, which contributed to a five percent fall in
the mining group's third quarter sales. -
more
China will outweigh rest of world for base metals demand by 2017: WoodMac
- China is on track to exceed the rest of the world in demand for base metals
by 2017, becoming the single largest consumer, research consultancy Wood
Mackenzie said Friday. -
more
Alcoa complains
to UK, U.S. regulators about metals warehousing - Alcoa Inc, the world's
second-largest aluminium producer, has complained to British and U.S. market
regulators about a proposal by the London Metal Exchange to overhaul the
LME's warehousing policy. -
more
Lower
prices depress PHL metals export value, says Mines Bureau - Weighed by lower
commodity prices, Philippine metals outs dropped 7.89 percent in peso terms
during the first half of the year, Mines and Geosciences Bureau (MGB) data
released Monday showed. -
more
Australia’s nickel mining boosted by new extraction process - Collaboration
between Perth CSIRO scientists and an Australian technology company has produced
a commercially viable method to extract nickel from low grade ore. -
more
Tokyo Steel,
wary of imports threat, keeps Nov prices mostly unchanged - Tokyo Steel
Manufacturing Co Ltd is keeping November prices of most of its products unchanged
as Japan's top construction-steel maker is wary of competition from imports
and wants a recent broadbased hike to be absorbed by the market. -
more
China is
world's largest consumer, 2nd largest producer of iron ore - Iron ore is
the most important raw material for steel production. Its resources are found
mainly in Australia, Brazil, China, India, Russia and the United States.
-
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 reports and information
free of charge.Contact
us
Friday, October 18
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.36lb. Indicators at
6:40 am CST today show 3 month nickel trading around $.08/lb
higher, with other
London traded base metals trading higher as well. Speaking of higher, stockpiles
of nickel stored in LME licensed warehouses rose to yet another all time
record high yesterday, now reading 230,040 tonnes. Markets are trading higher
this morning, mostly on news out of China that they saw their fastest growth
of the year in the third quarter. And while there are signs they may have
slowed recently, markets are looking for positive economic news and reacting
to it. We posted a link below to an article in China Daily that power consumption
rose 10.4% in September - so any slowing in that region is not across the
board. As post 'LME Week' week comes to an end, we are seeing the nickel
bump we expected, and it remains to be seen if it holds, but so far, it doesn't
appear to hold much momentum. We are seeing a batch of 'updated' predictions
being issued, after analysts had a chance to compare notes last week. It
would appear most believe there isn't much room left on the downside, so
predictions on the upside are common. It depends on two things, in our humble
opinion. First, Indonesia. If they leave their 2014 ban of nickel ore in
place, we will see prices rise on the speculation China will be forced to
import more refined nickel. Secondly, if funds ever start seeing base metals
as a profitable line again, the influx of fund money could feed on itself,
as it has in the past. We don't see this happening anytime soon, but the
unknown factor could easily trigger interest. IN the mean time, it's
Friday and the weekend is right around the corner. Have a safe and relaxing
one!
Average price of cash nickel so far this month - $6.24/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
(SMM) HSBC slashed its 2013 nickel price view by 6 percent to $15,040 per
tonne to reflect current weakness in the market, but kept its 2014 outlook
unchanged at $17,090.
China's power consumption rises 10.4% in Sept -
more
Easy Fed outlook, China growth send shares to five-year high, dollar to
eight-month low -
more
China Metals Demand Slower, Not Lower - Much has been made of a slump in
China’s demand for ores and metals, hurting big exporting nations like
Brazil, Indonesia and Australia. -
more
Nickel
outlook lifts as Indonesian export ban looms over China - A potential ban
on nickel ore exports by Indonesia next year and production cutbacks could
lift the price of this year's worst-performing base metal by more than 20
percent off multi-year lows, analysts said. -
more
Is BHP
looking to escape the nickel market? - BHP Billiton’s rivals are once
again suspecting that the miner could be on the move to offload its largest
nickel assets as part of its strategy to heavily reduce costs and increase
its focus on core operations. -
more
Xstrata Nickel lays off more workers; national park demand gathers steam
- The miner Xstrata Nickel Falcondo on Wednesday laid off around 100 workers
in the central town of Bonao, and now total 500 people who’ve lost their
job. -
more
China
Ferrochrome: Buyers hold out for lower import prices - Spot prices
for ferrochrome and charge chrome imported into China were steady this week
on a lack of deals as Chinese buyers held out for lower prices due to an
absence of movement in China's domestic market. -
more
Japan H1
crude steel output hits 5-year high on construction demand - Japan's crude
steel production for the April-September period hit a five-year high, buoyed
by solid construction demand from higher government infrastructure spending
and a rush to build homes ahead of a sales tax hike next year. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Thursday, October 17
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.31/lb. Indicators
at 6:45 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new all time record high on Wednesday
and now totals 229,812 tonnes. Markets around the world are showing relief
this morning as the US government reached an 11th hour agreement that returned
the government to work, and raised the debt limit. Now this agreement only
buys the world about 3 months before we start this same nonsense all over
again, but for now, the giant step into an unknown abyss will remain a feared
mystery. A Chinese rating agency dropped the US to A- from A, and the story
can be
found here. Nickel pricing continues to bob in the surf, going
absolutely no where. Even a stronger Euro this morning is having little positive
effect on base metals trading. This could be a response to lowered US economic
expectations now being released in light of the political debacle.
Average price of cash nickel so far this month - $6.24/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(Reuters) The global nickel market was in surplus by 108,200 tonnes in the
first eight months of the year, a monthly bulletin from the Lisbon-based
International Nickel Study Group (INSG) showed on Wednesday.
(SSY) The world export price of hot rolled band fell by $17/t over the last
two weeks to a 9-week low of $556/t, according to the latest SteelBenchmarker
published by World Steel Dynamics.
Outotec to cut up to 500 jobs as miners slash spending -
more
Fed mulls surcharge on bank physical commodities -
more
Experts bullish
on nickel prices but timing unclear - A trio of metals experts have expressed
their confidence in the long-term outlook for the global nickel market, despite
spot prices’ continued decline over recent months. However there could
still be tough times ahead in the short term. -
more
China's
Production of HC FeCr in Sept. Expected to Be 331,000 Tons =Up by 1% from
prior month, and consumption of chrome ore is calculated to be about 861,000
tons= According to the local media in China, the domestic production volume
of high-carbon ferro-chrome in September is expected to be around 331,000
tons. -
more
Talvivaara
must deal with market forces - new minister - Finland's new minister in charge
of state ownership said mining company Talvivaara and others which have received
state investment should deal with market forces without relying too much
on government support. -
more
Norilsk
Nickel Russia’s most transparent company – TI - Transparency
International has put OAO GMK Norilsk Nickel, the world's largest nickel
producer, on top of Russia’s list of its 52-page report, Transparency
in Corporate Reporting: Assessing Emerging Market Multinationals. -
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 reports and information
free of charge.Contact
us
Wednesday, October 16
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.33/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel retreated
on Tuesday and now total just over the 228,250 tonne level. The world has
been watching the US Congress closely for a few weeks now, and as a midnight
default deadline draws near, there is nothing else that really matters. Markets
are still convinced that there will be another last minute deal reached and
are trading cautiously to optimistically. No one knows exactly what would
happen if they do not reach an agreement. We could see Black Thursday around
the world, or we could see a few days of confusion and fear, followed by
a nervous calm - or a Black Monday. Either way, no one really believes Washington
is stupid enough to test unchartered waters and the radical faction of the
House has effectively shut the House out of the negotiation process. Already,
Congress inability to reach an agreement has put US' AAA credit rating in
danger. An interesting day ahead - although everyone already believes they
know what will happen.
Average price of cash nickel so far this month - $6.24/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(MF) Taiwanese stainless steel market to fall into price war this week
(MF) China drives global production of stainless steel to record high
Ferronickel produced from Decar awaruite concentrate -
more
Sudbury
merger likely: Analysts - Glencore Xstrata and Vale could and likely will
one day merge their Sudbury operations. -
more
Nickle prices
to rise 22% to $17,000 a ton by Q4 2014: Bank of America Merrill Lynch -
Nickel prices to rise 22% from current level to $17,000 a ton by the fourth
quarter of next year, said Bank of America Merrill Lynch. -
more
Result of
Demand & Supply for Ferro-chrome in Apr-Jun 2013 =Decrease in consumption
of high-carbon products continues due to production curtailment of stainless
steels= The result of demand and supply for ferro-chrome was compiled for
the period from April to June in 2013. -
more
Anglo
American Names Ruben Fernandes CEO, Nickel, Niobium & Phosphates Unit
- Anglo American Plc. announced that it has appointed Ruben Fernandes as
chief Executive Officer of its Nickel, Niobium and Phosphates businesses,
with effect 1 December 2013, following the company's decision to combine
the management of the three commodity businesses. -
more
Modest Recovery
in September - September U.S. Shipments of both steel and aluminum displayed
their highest year-over-year growth yet in 2013. Canadian shipments returned
to a small positive growth rate as well. -
more
PolyMet Mine
Launches Campaign To Build Support - Developers behind the proposed PolyMet
copper-nickel mine in northern Minnesota have launched a new public awareness
campaign to try to build support for it. -
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 reports and information
free of charge.Contact
us
Tuesday, October 15
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.35/lb. Indicators at
6:45 am CST today show 3 month nickel trading around $.00/lb
no change , with
other London traded base metals trading mostly lower. Stockpiles of nickel
stored in LME approved warehouses rose on Monday and now total just over
the 228,400 tonne level. Equity markets are mostly higher around the world
as it appears Washington will, or has reached an agreement that will resolve
the government shutdown and debt limit issue. For how long remains to be
reported, but media rumors have extensions reaching into early 2014. Apparently
House Republicans are being briefed this morning and their reception could
seal the deal. We are getting the post LME Week bump in nickel prices that
we have seen before, and while prices are flat today, they are still showing
strength in the face of a stronger Dollar. Based on the last few years, we
expect little to come from this bump and about the only thing that will give
any rally some bite, would be news from Indonesia that they will keep their
January 1st ferronickel export ban in place. Until then, we should continue
to roll with the waves.
Average price of cash nickel so far this month - $6.23/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SO) Dalian Commodity Exchange, one of the four futures exchanges in mainland
China, has announced that it will launch trading of iron ore futures on October
18.
BIR publishes first issue of non-ferrous statistics -
more
Prices of
CR Austenitic Stainless Sheets After Anniversary of Founding = They fluctuate
in less movements and level off - Attention is paid to whether prices of
cold-rolled (CR) austenitic stainless steel sheets will rise or fall after
the Anniversary of the Founding in negotiations in the Asian region starting
from this week, and the end of the holiday season comes with less movements
in the market. -
more
BHP Accused
of Underpaying Royalties - Following weeks of protests at its Colombian Cerro
Matoso ferronickel operation, mining giant BHP Billiton (ASX: BHP) has now
been accused of underpaying Colombian nickel royalties, according to a report
by Bloomberg. -
more
Court case
over Solomon Islands nickel rights between Japan, Australia still unresolved
- The long drawn out dispute between Australian and Japanese companies over
nickel rights in Santa Isabel Island in the Solomon Islands remains unresolved.
-
more
Surigao
solon wants probe on operation of suspended nickel mining company - Surigao
del Norte Rep. Guillermo A. Romarate Jr. (2nd District) is calling for a
congressional investigation on a Chinese mining company in Claver town in
Surigao del Norte for allegedly operating even while under suspension. -
more
China Steel
Binge Spurs Record Hiring of Iron-Ore Vessels - Freight traders are hiring
record numbers of iron-ore carriers in the spot market as Chinese steel
production expands at the fastest pace in three years, spurring the biggest
rally in shipping rates since 2009. -
more
Courtesy AISI
- In the week ending October 12, 2013, domestic raw steel production was
1,847,000 net tons while the capability utilization rate was 77.1 percent.
Production was 1,692,000 net tons in the week ending October 12, 2012, while
the capability utilization then was 68.0 percent. The current week production
represents a 9.2 percent increase from the same period in the previous year.
Production for the week ending October 12, 2013 is down 1.4 percent from
the previous week ending October 5, 2013 when production was 1,873,000 net
tons and the rate of capability utilization was 78.2 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, October 14
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Nickel trading Dow Jones reports three month nickel closed Friday's trading
session at $6.26/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading mostly higher as well. Stockpiles of nickel
stored in LME approved warehouses fell for a third consecutive session and
now total just under 228,200 tonnes. Attention is back on Washington as lawmakers
there have yet to accomplish anything but talk. Dow futures are down about
as much as they gained on Friday, with Asian markets ending higher overnight,
and European markets mostly lower this morning. Xstrata's new owners, Glencore,
is in talks with Vale, about having their Canadian operations work together.
The former owners of these two operations have had such talks before, but
were never able to reach an agreement. Nickel trading did very little last
week, and we expect a little more activity this week now that LME week is
over. No reason to believe it will do much more than ride the waves. Everyone,
us included, apparently believes that no one in Washington is stupid
enough to not raise the debt limit before Thursday, but as the day gets closer
without an agreement, market volatility will rule. .
Average price of cash nickel so far this month - $6.22/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China's avg. daily steel output rises in late Sept -
more
Glencore,
Vale in talks over Canadian nickel tie-up - Glencore Xstrata and Vale have
revived talks over a potential combination of the mining groups' nickel
operations in Canada's Sudbury basin, in an effort to cut costs as prices
for the metal languish, sources familiar with the situation said. -
more
Glencore share price: Canadian nickel tie-up with Vale revived -
more
Nickel miners struggling
to stay afloat - Nickel was once the toast of the mining industry, but now
nickel miners say the boom is over and they're struggling to stay afloat.
-
more
New Caledonia’s
nickel industry the subject of talks in Paris - Talks in Paris have highlighted
the need to agree on a strategy for New Caledonia’s dominant nickel
industry to accompany discussions about the territory’s institutional
future. -
more
ISSF has published an updated version of the Stock Cycle Review and Demand
Index. -
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 reports and information
free of charge.Contact
us
Friday, October 11
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session at
$6.26/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mixed and subdued. Stockpiles of nickel
stored in LME approved warehouses fell for a second straight session on Thursday,
and now total just over the 228,850 tonne level. For the last 5 trading sessions,
nickel stockpiles are up 1,308 tonnes. Well what a difference sitting down
at a table and talking makes. It is obvious that House Speaker Boehner has
forced the more radical faction of his party that letting the US default
on its debts is not a smart play, and while the governmental shutdown has
yet to be mentioned in media reports, the President and Republican House
leaders are apparently negotiating a short term extension to the debt
ceiling ... effectively kicking the can down the road, albeit a very
short road this time. Since these two parties have proven they can only agree
under duress, we expect the reprieve in the market to be short lived. And
what a reprieve it has been. Yesterday, the US Dow had its best one day gain
since January. Asian markets ended much higher overnight, and European markets
are trading much higher today. Base metals are once again, sitting on the
sideline, only garnering a very small share of market enthusiasm. LME Week
has ended and traders will be back in force on Monday. As in the past, it
is possible we will see post-LME Week trading make a move higher that may
or may not hold, but with surging supply, we would be skeptical of any such
move having much staying power.
Average price of cash nickel so far this month - $6.22/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
2012 secondary non-ferrous metals output rises -
more
(Reuters) Colombia's Cerro Matoso, the world's No. 2 ferronickel producer,
partially restarted operations on Thursday after protesting indigenous groups
lifted their blockade of the mine's entrance.
(Yieh) It’s reported that the Korean steel giant Posco held an opening
ceremony for Posco- Italy Processing Center in Verona, northern Italy on
October 10th.
China pushes
H1 global stainless steel output up to record high - A jump in Chinese stainless
steel output drove global production of the alloy up to a new record high
in the first half this year, despite weaker demand growth in the developed
world and weak pricing, an industry report showed. -
more
Nickel
miners bank on rising demand - Western Australia's nickel miners believe
the industry has hit rock bottom, and will be buoyed by a surge in demand
by the end of the decade. -
more
Celebrate
centenary of Sheffield’s stainless steel discovery - A uniquely Sheffield
celebration of one of the world’s most important discoveries is taking
place at Kelham Island Museum. Experts on the history and future of stainless
steel, and its impact on the city where it was discovered, will be coming
together for the first time as part of the Off The Shelf festival. -
more
Sumitomo
Metal Mining Co., Ltd. : Trial to commence relating to the Solomon Islands
international tender dispute -
more
Japan
Ferrochrome: Spot price rises to 92-95 cents/lb CIF Japan - The spot price
of high-carbon lumpy ferrochrome imported into Japan was assessed at 92-95
cents/lb CIF Japan Friday, up from from 88-92 cents/lb last week on the back
of rising production costs in India. -
more
Survey backs
copper/nickel - Mining, in all forms in Minnesota, has strong support, according
to a survey commissioned by the Jobs for Minnesotans group. -
more
Talvivaara
shares at record low after warning needs more funds - Finnish nickel miner
Talvivaara warned on Thursday it needs another cash injection just six months
after its last fundraising, prompting its biggest shareholder to say it was
not sure whether to invest more in the company. -
more
Morning Nickel
Inventory and 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 reports and information
free of charge.Contact
us
Thursday, October 10
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.26/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.06/lb
higher, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses recorded only their second loss for the month
and now total just under the 229,00 tonne level. President Obama and members
of the Republican House majority are meeting today and the market appears
to be betting something will come from it. The media is reporting that House
Republicans may be ready to blink on the debt limit with pressure from their
House Leader. Asia markets ended higher overnight, European markets are trading
much higher this morning, and US futures show Wall Street should open
enthusiastically as well. Protests at a ferro chrome mine in Colombia and
one at a closed nickel mine in Dominica Republic are making news today. The
Paydirt Australian Nickel Conference is going on and there are some reports
posted below, with more nickel predictions. If you want to know what will
happen with nickel prices, watch China production umbers and Indonesia mining
regulations.
Average price of cash nickel so far this month - $6.22/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
ASTM A1084 - 13 Standard Test Method for Detecting Detrimental Phases in
Lean Duplex Austenitic/Ferritic Stainless Steels -
more
(DJ) Russia Jan-Aug Aluminum, Copper, Nickel Exports Down as Demand Dips
China steel market may run out of steam without fresh stimulus -
more
Small Businesses Skeptical About Future; Optimism Dips -
more
Nickel market
to see supply tightness starting in 2014: Western Areas CFO - The global
nickel market is set to experience some tightness in supplies for smelters
starting in 2014, with the potential of increasing pressure on nickel pig
iron production in China exacerbating the situation, Joe Belladonna, CFO
of Australian producer Western Areas, said Thursday. -
more
Crude SUS
Production by Major SUS Mills in August Is 307,638 Tons =Down by 0.7% from
prior month, and NSSC, Hikari Works and NYK, Kinuura Works curtail production
- The crude stainless steel production by 7 major stainless steel mills in
August 2013 was 307,638 tons, down by 0.7% from 309,733 tons of the prior
month. -
more
Nova-Bollinger ramp-up seen coinciding with higher nickel prices - Nickel
developer Sirius Resources is confident that its Nova-Bollinger project,
in the Fraser Range of Western Australia, will come on line in time to cash
in on expected improved nickel prices. -
more
Innovation needed to make nickel recovery cost-effective – Marmion -
more
Efforts to boost the nickel sector by reducing regulation -
more
Nickel
Asia's end-Sept export receipts slip on weak prices - Nickel Asia Corporation
today said export receipts in the first nine months of the year dropped by
more than a sixth from a year ago, as lower prices in the world market offset
an increase in volume shipped. -
more
Protests
close world No. 2 ferronickel mine in Colombia - Cerro Matoso, the world's
No. 2 ferronickel producer owned by multinational BHP Billiton and located
in Colombia, said it has temporarily shut its mine after two weeks of protests
by indigenous groups, halting 4 percent of world output. -
more
Dispute over Xstrata Nickel mine sparks riot in front of Dominican Congress
- Two groups in dispute over the Glencore Xstrata nickel mine project at
Loma Mirada (central) unleashed a riot in front of Congress Wednesday morning,
hurling stones and debris at each other, while several rioters were seen
wielding guns and one shot fired. -
more
New Caledonia
Mining Documentary To Be Released In 2014 – Six years after starting
his Cap Bocage documentary project in New Caledonia, New Zealand filmmaker
Jim Marbrook will be ready to release the film mid-2014. -
more
Talvivaara
Slumps as Liquidity Worse Than Expected: London Mover - Talvivaara Mining
Co., a Finnish nickel miner, sank to a record low in London trading after
saying it’s assessing all options for additional funding to offset low
prices and output. -
more
Finland's Talvivaara seeks more funds to keep mine running -
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 reports and information
free of charge.Contact
us
Wednesday, October 9
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.30/lb. Indicators
at 6:50 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses rose on Tuesday, and yes, that would mean
another all time record high has been set. In fact we have seen a decline
in inventories only once so far this month. For today, the record total stands
at 229,230 tonnes. This day last year, stockpiles stood at 124,512 tonnes.
While equity markets are getting a lift on news that President Obama will
nominate market favorite Janet yellen to replace Ben Bernanke as Fed Chairman.
After taking a 159 point hit yesterday, US Dow futures are higher on the
news. Asia markets ended higher overnight, and European markets are trading
higher as well. But don't kid yourself. With the impasse in Washington appearing
to get worse, and the US expected to run out of money on the seventeenth,
there is still plenty of room for more volatility this week. Both parties
are playing chicken and the world and many traders appear to believe that
non one in Washington is stupid enough to let America default, and that a
last minute deal will be orchestrated by a a few Congressmen who have not
spent the last week in front of media camera's. Let us hope they are right.
We find it concerning that many of the people beating the drum and saying
the whole debt limit is irrelevant and those who are threatening a disastrous
outcome if the limit is not raised in time - are some of the same people
who claim everything the US government does is an experiment in socialism.
Spending less is a great idea - but pay your bills after you've spent it.
Average price of cash nickel so far this month - $6.22/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(FAN) Europe and South Africa's high carbon ferrochrome benchmark contract
price is still 112.5 cents/lb, which remained at the same level with the
third quarter.
(MB) Brazilian ferro-alloys producer Ferbasa has set its high carbon ferro-chrome
price at $1.12 per pound for the fourth quarter of 2013, it announced recently.
China arrests chairman of world's largest tin producer for bribes -
more
No Xmas in July for vendors at Yiwu's market -
more
Taiwan Fastener Imports & Exports both Fall in First Half -
more
Stainless
steel production - Preliminary figures released by the International Stainless
Steel Forum (ISSF) show that stainless steel crude steel production has been
further growing in the first half of 2013 with an increase of 4.6% compared
to the same period of 2012. -
more
Britain's
financial watchdog backs LME's warehousing consultation - Britain's financial
watchdog homed in on the London Metal Exchange's (LME) warehousing crisis,
stressing the importance of its global storage network to maintain the integrity
of the market. -
more
World Stainless
Steel price Forecast - MEPS – World Average Stainless Steel transaction
values increased for most products in September. -
more
Offer Prices
of CR Austenitic Stainless Sheets to Be Lowered $50-100 - Negotiations on
cold-rolled (CR) austenitic stainless steel sheets in the Asian region have
been undertaken for November shipment, and offer prices of them are falling
by $50-100 from those for October shipment mainly to the level of $3,350
CFR again. -
more
SUS Scrap
Market in Oct. Starts with Same Level as Prior Month =Demand from domestic
mills is active before furnace repair and POSCO' purchase price is a little
bit down= The price of nickel-containing stainless steel scrap (SABOT) to
be purchased by Japanese stainless steel mills in October has started with
the same level as the prior month of JPY143,000 - JPY144,000 per ton while
carrying over the actual condition in September. -
more
Mirabela
Nickel suspends trading in its stock - Struggling nickel miner Mirabela
Nickel has suspended trading in its shares after failing to update the market
today.
- more
Commodity Prices Wrong as Often as 27% of the Time for Traders - Commodities
traders who buy and sell as much as $5.67 trillion of raw materials a year
say the benchmark prices for everything from oil to iron ore to gasoline
are wrong as often as 27 percent of the time. -
more
Mining group
poll shows copper-nickel mining support - A group organized to help push
copper mining projects in northeastern Minnesota released the results of
statewide polls Tuesday that shows support for copper projects here. -
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 reports and information
free of charge.Contact
us
Tuesday, October 8
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.30/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.05/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME licensed warehouses continue to set all time record highs on a daily
basis, and now totals 228,066 tonnes. Nickel jumped back to trading levels
of early last week, for no real reason other than ending a week long slide
and keeping nickel trading within a narrow band. We are seeing a broad range
of nickel forecasts this week, many coming from the LME Week meetings. Norilsk
is rather gloomy, forecasting it will take two years to bring nickel back
to a more balanced stock level and rising prices. Others are not quite so
pessimistic, but remain far less than bullish. The trump card remains the
Indonesia nickel ore ban, and until a determination is made on whether the
island will enforce the ban of 2014, or suspend it, it will be hard for anyone
to forecast nickel's future. We do agree with Norilsk's observation that
LME stockpile levels are unprecedented. This from a company, that years ago,
liked to keep their own top secret stockpiles - and which were sometimes
revealed to be of a staggering quantity.
Average price of cash nickel so far this month - $6.21/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Output growth eases in manufacturing, service -
more
(SO) In September, the purchasing managers' index (PMI) of China's steel
sector decreased to 49.2%, down 4.2% points month on month, as announced
by the China Steel Logistics Committee.
Madagascar Presidential Candidate Vows Tax Cuts for Economy -
more
Neutral outlook for tropical Pacific and Indian Oceans -
more
China's 2014
metals demand seen brightening, helped by building drive - China is expected
to import more refined copper in 2014 as Beijing steps up building of power
networks, rail lines and low-cost homes, while domestic production is likely
to be squeezed by tight scrap supply, industry sources said. -
more
Community
in the dark over nickel mine - A vulnerable Indonesian community has been
let down by a failing legal system and international human rights mechanisms,
according to a new report. -
more
Norilsk says
will take years to deplete nickel stocks, boost prices - Nickel prices are
unlikely to recover for another two years as producers struggle with
"unprecedented" low prices and a 100,000-tonne surplus, an executive at Russia's
Norilsk Nickel said on Monday. -
more
LMEWEEK-Long-term
copper price lifted by higher costs, demand growth - Long-term copper prices
should be boosted by rising cost inflation and a bullish outlook for demand
from top consumer China, prompting analysts to revise prices for the next
10 years up by more than 8 percent, a Reuters survey showed on Monday. -
more
No plans
to step down for Norilsk Nickel's billionaire CEO Vladimir Potanin - When
he took the helm of Norilsk Nickel last December as part of a deal that ended
a long-running shareholder battle, Russian billionaire Vladimir Potanin hinted
he saw himself in the job for roughly two years. -
more
Courtesy AISI
- In the week ending October 5, 2013, domestic raw steel production was 1,873,000
net tons while the capability utilization rate was 78.2 percent. Production
was 1,709,000 net tons in the week ending October 5, 2012, while the capability
utilization then was 68.7 percent. The current week production represents
a 9.6 percent increase from the same period in the previous year. Production
for the week ending October 5, 2013 is up 1.1 percent from the previous week
ending September 28, 2013 when production was 1,852,000 net tons and the
rate of capability utilization was 77.3 percent.
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Monday, October 7
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Friday's trading session at
$6.18/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading mixed and mostly lower as well. Stockpiles
of nickel stored in LME approved warehouses rose to a new all time record
high on Friday and now totals 227,928 tonnes. As the US government shutdown
continues and after a weekend of talk tv showed both sides have dug in their
heels with little change of a quick resolution, world equity markets are
lower today. The US government shutdown itself matters less to world markets,
than the upcoming debt limit talks. In about two weeks, the US will
no longer be able to pay its bills, and the same branches of government who
can not decide on a federal budget extension, must agree on terms to raise
the debt limit. Republican House Leader Boehner has been quoted as saying
he will not allow the government to default, but the 'Tea Party' faction
of his party has successfully forced his hand on the shutdown issue, and
this has markets nervous on his ability to manage the majority party of the
House. The London Metal exchange begins LME Week today, so we expect trades
to be less active over the next few days. All eyes will remain on Washington
this week, with markets becoming more volatile as long as uncertainty continues
to rule.
Average price of cash nickel so far this month - $6.19/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Worst Stocks to Reverse With Commodity Profits Rising 18% -
more
China's 2014
metals demand seen brightening, helped by building drive - China is expected
to import more refined copper in 2014 as Beijing steps up building of power
networks, rail lines and low-cost homes, while domestic production is likely
to be squeezed by tight scrap supply, industry sources said. -
more
Nickel
production cuts to remove around 33,000t from market in 2014 - Two significant
production cuts were announced in the nickel market in the past week which
will signify around 33,000t of lost production in 2014. -
more
Forecast
on Demand for Special Steel During October to December 2013 - On October
1, the Ministry of Economy, Trade and Industry made clear its forecast on
the demand for special steel products during the period from October to December
in 2013 (Presentation was made at Special Steel Association of JAPAN). -
more
Nickel hopefuls plug on despite supply glut - Nickel miners must wake up
in the mornings expecting every new day to slap them in the face. -
more
PolyMet study:
Water from mine site would need 500 years of treatment - If the PolyMet
copper-nickel mine is built and operates north of Hoyt Lakes, water that
runs off the site will have to be treated for hundreds of years or more to
remove sulfate and metals to meet water quality regulations. -
more
Iron Range mine could pollute water for up to 500 years -
more
Limited upside
seen for Indian prices on large supply - Market participants in Asia are
expecting higher offers from Indian high carbon ferrochrome suppliers in
the near term but there are doubts about whether higher offers could be realized
given the current large supply in the market. -
more
Key Takeaways from the IMOA’s Annual General Meeting - At the International
Molybdenum Association’s (IMOA) annual general meeting, held last month
in Salt Lake City, Utah, a number of experts analyzed the moly market and
presented their outlook for the metal moving forward. -
more
Norilsk
Plans $10 Billion Investments by 2018 to Boost Output - OAO GMK Norilsk Nickel,
the world’s largest nickel and palladium producer, plans to invest as
much as $10 billion in five years to boost output. -
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 reports and information
free of charge.Contact
us
Friday, October 4
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Thursday's trading session
at $6.212/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around
$.04/lb
higher, with
other London traded base metals trading mostly higher. Stockpiles of nickel
stored in LME approved warehouses rose to another all time record high on
Thursday and now totals 227,562 tonnes. Of four reporting days so far this
month, a new record has been recorded on three of them. Of twenty reporting
days in September, a new record was recorded on thirteen of them. One year
ago today, LME warehouses held 123,114 tonnes. Nickel continues to drift,
bobbing up and down in the waves. Until Indonesia decides what it is going
to do on January 1st - either enforcing or backing off a total export ban
of nickel ore. A ban will have a major negative effect on China's feed stock,
and could support higher prices. Most believe Indonesia will back off this
ban and will add higher taxes to future exports. The US governmental shut
down is in Day 4 and according to media reports, there is no end in sight.
An anonymous report yesterday that Speaker of the House John Boehner will
not allow the US to default helped markets move off session lows. The Dow
is trading below 15,000 - again. The all important labor report today will
not be issued today due to the governmental shutdown. In overnight trading,
Asian markets ended lower. European markets are trading slightly higher this
morning, and US futures are also slightly higher. Have a safe and relaxing
weekend!
Average price of cash nickel so far this month - $6.20/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
The International Nickel Study Group (INSG) forecast a global surplus of
140,000 tonnes of nickel this year on Thursday in their monthly bulletin.
(SO) According to statistics released by Japan's Ministry of Finance, Japan's
nickel ore imports totaled 392,064 metric tons in August this year, down
18.2 percent month on month and decreasing by 4.9 percent compared to August
2012.
(SM) According to the most recent statistics released by the Latin American
Steel Association (ALACERO), imports of finished steel by Latin American
region from China during the initial eight-month period soared 27% over the
year.
China Invests Total $28.2b in Indonesia Industry: Hidayat -
more
Nickel Ore Shipments - Lessons Learned From Losses - One of the most pressing
problems for the bulk shipping industry is the safe carriage of nickel ore.
The increasing demand for this commodity is fuelled by China’s thirst
for nickel ore as it is the principal alloy component for stainless steel.
-
more
Asia Ferrochrome:
Limited upside seen for Indian prices on large supply - Market participants
in Asia are expecting higher offers from Indian high carbon ferrochrome suppliers
in the near term but there are doubts about whether higher offers could be
realized given the current large supply in the market. -
more
Zim mines
key to Mwana Africa’s growth - Bindura Nickel Corporation and Freda
Rebecca mine will be central to UK-listed Congolese mining house Mwana Africa
Ltd’s operations, according to incoming chairman Mark Wellesley-Wood.
-
more
Mirabela
falls further into strife - Mirabela Nickel's future looks uncertain as its
share price continues its freefall, slumping to below 1c following a series
of downgrades by ratings agencies after the company flagged a possible default
on a debt 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 reports and information
free of charge.Contact
us
Thursday, October 3
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Wednesday's trading session at
$6.21/lb. Indicators
at 6:45 am CST today show 3 month nickel trading around $.02/lb
lower, with other
London traded base metals trading mixed, mostly quiet, and mostly lower.
Stockpiles of nickel stored in LME approved warehouses slipped on Wednesday
and now total just under the 227,000 tonnes level. Yesterday, the Dominican
Republic government snubbed Xstrata by turning some land that Xstrata was
looking at mining on, into a protected National Park. Today, Xstrata'a owners
responded by shutting down Falcondo, the operating nickel mine there. China's
non manufacturing PMI rose in September, and that helped Asian shares end
higher. European equity markets are lower this morning, and US futures are
also lower, on the US government shutdown concerns. Traders are not finding
any hints of a possible end to this shutdown and with a debt limit situation
just around the corner, concerns are growing this stalemate will turn into
something much worse. There is no panic, yet, and some traders are apparently
deciding not to risk their investments and pulling some money out of the
markets. Nickel is trading today almost exactly where it was last month this
date, and going no where fast.
Average price of cash nickel so far this month - $6.21/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Quarterly
Contract Price of LC FeCr Is US Cents 194 -196/lb Also in Oct-Dec =Price
remains at same range in 4 consecutive quarters= The price of low-carbon
ferro-chrome for the period from October to December in 2013 Japanese stainless
steel mills negotiated with overseas ferroalloy producers has been settled
at US Cents 194 - 196 per lb. -
more
Glencore Xstrata to close nickel mine in the Dominican Republic - The global
mining and commodities trading giant Glencore Xstrata is suspending operations
at its Falcondo nickel mine in the Dominican Republic due to falling nickel
prices. -
more
Xstrata halts nickel mine just 24 hours after project declared National Park
-
more
Mirabela
Nickel on the brink - Mirabela Nickel could be forced into administration
in coming weeks if it defaults on a loan.-
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 reports and information
free of charge.Contact
us
Wednesday, October 2
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Tuesday's trading session at
$6.26/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to another all time record high on Monday,
recording a total of 227,292 tonnes. China is closed for a holiday this
week, and now the US government is closed due to stupidity. Equity markets
are lower today, as traders started noting that the House Republicans were
not yet moving from their hard line, and this dispute could keep the government
shut down for an extended period. Traders are also nervous that if the two
can not agree on this issue, the status of the debt limit talks will go no
where, and with the US in danger of defaulting around mid month, the fear
of unknown repercussions is making many nervous around the world. Traders
have become numb to these constant down-to-the-wire disputes and appear to
be only slightly surprised so far, that there were no last minute solutions.
We expect trades to become more volatile as debt ceiling negotiations begin,
and Americans to become less amused, as the closure starts to affect their
personal lives.
Average price of cash nickel so far this month - $6.23/lb
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Australia Increases Iron Ore Estimate on Chinese Demand Outlook -
more
Press Release
- For the month of October 2013, North American Stainless will maintain the
fuel surcharge at 33% for stainless flat and long products.
Merafe
Resources - Shareholders of the Company are advised that the European benchmark
ferrochrome price for the fourth quarter of 2013 has been settled at 112.5
USc per pound which is a rollover from the price in the third quarter of
2013.
Commodities
Market Little Help for Metal Industry, Solidium Says - The commodities market
will offer scant relief to metal producers struggling with overcapacity and
low prices in the coming months, according to the head of Finland’s
equity-asset manager. -
more
Middle Eastern
and South African business alliance set to become World's largest Ferrochrome
Exporter - A strategic alliance between high-profile Middle Eastern and South
African business leaders is set to challenge global monopolies in the supply
of beneficiated ferrochrome after the conclusion of a multi-million dollar
investment transaction this month. -
more
Lawmakers deal blow to Xstrata Nickel’s planned mine - Loma Miranda,
in central La Vega province, was declared National Park today, after the
Chamber of Deputies passed the bill in an emergency session with two roll
calls, dealing a blow to a planned nickel mine. -
more
Mirabela
sounds default warning - Mirabela Nickel has warned that it may be set to
default on its debt covenant after one of its two main customers announced
it would terminate its nickel concentrate purchase agreement a year earlier
than expected. -
more
Mwana
Africa looks to Freda Rebecca mine and Bindura Nickel for self sufficiency
- Mwana Africa’s new chairman Mark Wellesley-Wood sounded an upbeat
note as he said the group had defined a three-pronged strategy, which he
believes will deliver significant value over coming months. -
more
Notice to visitor:
Due to the lapse in government funding, the International Trade Administration
website you are trying to reach will be unavailable until appropriations
are enacted. We sincerely regret this inconvenience. -
more
Due to the lapse in government funding, census.gov sites, services, and all
online survey collection requests will be unavailable until further notice.
-
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 reports and information
free of charge.Contact
us
Tuesday, October 1
Daily
Nickel/Stainless Steel Briefing(8:00 AM CST is 1PM in London)
Dow Jones reports three month nickel closed Monday's trading session at
$6.32/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.04/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses ended the month of September much like they started,
closing with a new all time record high reading of 227,004 tonnes. PMI numbers
have disappointed so far today, with Japan rising by .3%, China rising by
.1%, and Europe slipping by .3%. US readings will be released later
today and are expected to slip by .7% from 55.7 to 55.0. The US government
is partially shutdown after the US House of Representatives and US Senate
were unable to agree on a budget bill. Next up - an even more contentious,
if that is possible, argument over the debt ceiling, as the government is
expected to run out of money within a few weeks. Equity traders seem
to be dismissing the partial government shutdown, at least for the moment,
with European markets mostly higher, and the Dow futures higher as well.
Markets aren't really sure how to react, but expect the world of commerce
to continue as expected. The shutdown will have to be extended before we
start to see any significant impact on the economy, but if it lasts more
than a week or so - it will start to have an effect. The debt limit talks
will continue to garner more attention in the coming weeks.
Average price of cash nickel so far this month - 0
Average price of LME traded nickel in 2012 - $7.95/lb / avg 2011 - $10.36/lb
/ avg 2010 - $9.89/lb / avg 2009 - $6.64/lb
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Outokumpu
should help itself, says state fund - Outokumpu should try to solve its own
problems even though the steel company's heavy debts have raised the prospect
it might need more money from shareholders at some stage, the head of Finland's
state investment fund Solidium said. -
more
China's Import
& Export Results of Nickel in August 2013 - The customs statistics of
China shows the import & export results of nickel-containing products
in August 2013 in the table below. -
more
Japan's 2013
crude steel output could hit 5-year high -METI - A rush to build homes ahead
of a sales tax hike next year and a jump in government infrastructure spending
have helped boost steel demand in Japan, driving production increases and
likely leading to crude steel output hitting a five-year high this year.
-
more
Russia's
Norilsk Nickel cuts 2013 dividend target - Russia's Norilsk Nickel, the world's
biggest nickel and palladium producer, has lowered its dividend target for
2013-14, its co-owner, aluminium giant Rusal said on Tuesday, as oversupply
in its key market hurts prices. -
more
Royal Nickel
has high hopes for Dumont mine - Resource companies keep an eagle eye on
the economic cycle and Royal Nickel Corp. believes its $1.2 billion U.S.
Dumont nickel mine in northwestern Quebec will start up in 2016 as metal
prices swing higher. -
more
Forrest's
aide takes over at Poseidon helm - Poseidon Nickel has moved to minimize
the impact from the surprise resignation of chairman Andrew Forrest, with
the battling resources company appointing a trusted lieutenant of the billionaire
as its new chairman. -
more
Courtesy AISI
- In the week ending September 28, 2013, domestic raw steel production was
1,852,000 net tons while the capability utilization rate was 77.3 percent.
Production was 1,751,000 net tons in the week ending September 28, 2012,
while the capability utilization then was 70.4 percent. The current week
production represents a 5.8 percent increase from the same period in the
previous year. Production for the week ending September 28, 2013 is down
1.3 percent from the previous week ending September 21, 2013 when production
was 1,877,000 net tons and the rate of capability utilization was 78.3 percent.
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Morning Nickel
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Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to another record high on Wednesday and now
totals 237,576 tonnes. Cancelled warrants nearly hit 29% on Wednesday as
well. For October 2013, stockpiles reached record levels 15 times over 23
reporting days. Markets around the world fell after yesterday's Fed announcement,
not because of anything they did, but what they didn't say. The stimulus
addicted markets want to hear the free money will continue to flow and stoke
the markets. And while the Fed did not stop this flow going into November,
or even hint they might stop it anytime before 2014, they did not make blanket
promises to the markets that the flow would go on for forever. So markets
are throwing a little tantrum, and some are taking some profits after this
weeks big jump. Nickel ended September at $6.32/lb and at teh moment, is
trading about $.25/lb higher than that.
Reports
Commodity/Economic Comments
Morgan Stanley
sees weak medium-term nickel prices - Global nickel markets will likely stay
weak over the next few years as demand remains low and oversupply continues,
Morgan Stanley chief metals economist Peter Richardson said Wednesday. -
New Record
High For Global Stainless Steel Output This Year - World crude stainless
steel output is forecast to reach an all-time high figure of 36.4 million
tonnes in calendar year 2013. -
BHP Billiton
Australian nickel mine hit by small quake - BHP Billiton's Leinster nickel
mine in Western Australia was hit by a small earthquake early on Thursday,
and all workers have been brought out from the underground mine safely, the
company said. -
Prices of
CR Austenitic Stainless Sheets = They become an environment to be able to
expect $2,500 CFR - Prices of cold-rolled (CR) austenitic stainless steel
sheets in the Asian region have shown a sign to recover rapidly. -
Finnish
state considering rescue of struggling miner Talvivaara - Finnish nickel
miner Talvivaara, struggling for cash just months after its latest fundraising,
could be rescued by the government with a package focused on debt relief,
sources familiar with the discussions said yesterday.
-
Morning Nickel
Price Statistics & Figures
North American
Stainless Press Release - For the month of November 2013, North American
Stainless will maintain the fuel surcharge at 33% for stainless flat and
long products. The surcharge rate is considered a maximum level for November
and will be reviewed monthly. -
Indonesia Seen Avoiding Total Ban on Mineral-Ore Exports in 2014 -
Indonesia may refrain from a complete ban on mineral-ore shipments in 2014
as the country needs the revenue to offset declining income from the oil
and gas industry, said an adviser to the industry ministry. -
RamuNiCo
seeks to boost output - RamuNico is adopting stringent measures to improve
its production while reducing deficit in the second-half of this year, the
company said in a recent newsletter. -
KWG to patent new cheaper, cleaner ferrochrome process - KWG Resources, that
is earning an 80% interest the Black Horse chromite deposit in Ontario's
Ring of Fire, has filed a patent application for a new method of refining
chromite ore into ferrochrome using natural gas. -
. Indicators at 6:50
am CST today show 3 month nickel trading around $.01/lb
Russia's
stainless steel imports rise 5.6% in Sep 2013 - According to SpetsStal's
appraisal, the volume of stainless steel imports to Russia in September 2013,
compared with August, rose 5.6% to 20,339 tons. -
Steel firm
to fight US probe - The country's largest flat-rolled alloy steel producer,
Wuhan Iron and Steel (Group) Corp, said Sunday that it will respond in a
proactive manner to an anti-dumping investigation launched Friday by the
US Commerce Department. -
Zimbabwe:
BNC Mining Plan Bears Fruit - Bindura Nickel Corporation's revised mining
plan has started bearing fruit after a marked increase in recoveries and
a decline in costs, figures from parent firm Mwana Africa Plc' latest trade
update show. -
(Story below)
Norilsk Nickel - Our Metals -
Merafe
Q3 ferrochrome production up 71% - JSE-listed ferrochrome producer Merafe
Resources on Thursday reported that its third-quarter attributable production
from the Glencore-Merafe chrome venture increased by 71% year-on-year, as
a result of additional planned production, good performance of the Lion 1
project and the impact of major production improvements at the venture’s
Rustenburg plant. -
POSCO
cuts 2013 sales outlook; Q3 profit nearly halves - South Korea's POSCO cut
its 2013 sales target by 3 percent on Thursday as the world's fifth largest
steelmaker struggles to win orders away from Asian rivals also scrambling
in an oversupplied market. -
Norilsk
Nickel Corporate Video Awarded at Festival in Cannes - At the 4th international
Cannes Corporate Media & TV Awards customarily held in October in Cannes,
France, Norilsk Nickel’s publicity video Our Metals has been given a
Silver Dolphin. -
TVI
eyes partner for Agata nickel project - Canadian firm TVI Pacific on Tuesday
said it was in talks with a potential partner for the infusion of $11.5 million
into the Agata nickel project in Agusan del Norte for the development of
a direct shipping ore operation in the area. -
French
Mining Group Warns Nickel Industry ‘Overcapacity’ - The French
mining group Eramet, hit by the slumping nickel market, is warning of more
losses and the need to reduce costs. -
Third
Time’s the Charm for Sudbury Basin Collaboration? - It’s no secret
that nickel prices aren’t doing as well as they could be — the
International Nickel Study Group recently revealed that the global nickel
market recorded a surplus of 108,200 tonnes in the first eight months of
2013, and some analysts believe that it will take a year or two for a turnaround
to occur. -
Tokyo Steel,
wary of imports threat, keeps Nov prices mostly unchanged - Tokyo Steel
Manufacturing Co Ltd is keeping November prices of most of its products unchanged
as Japan's top construction-steel maker is wary of competition from imports
and wants a recent broadbased hike to be absorbed by the market. -
Xstrata Nickel lays off more workers; national park demand gathers steam
- The miner Xstrata Nickel Falcondo on Wednesday laid off around 100 workers
in the central town of Bonao, and now total 500 people who’ve lost their
job. -
BHP Accused
of Underpaying Royalties - Following weeks of protests at its Colombian Cerro
Matoso ferronickel operation, mining giant BHP Billiton (ASX: BHP) has now
been accused of underpaying Colombian nickel royalties, according to a report
by Bloomberg. -
Court case
over Solomon Islands nickel rights between Japan, Australia still unresolved
- The long drawn out dispute between Australian and Japanese companies over
nickel rights in Santa Isabel Island in the Solomon Islands remains unresolved.
-
Nickel
production cuts to remove around 33,000t from market in 2014 - Two significant
production cuts were announced in the nickel market in the past week which
will signify around 33,000t of lost production in 2014. -
Limited upside
seen for Indian prices on large supply - Market participants in Asia are
expecting higher offers from Indian high carbon ferrochrome suppliers in
the near term but there are doubts about whether higher offers could be realized
given the current large supply in the market. -
Middle Eastern
and South African business alliance set to become World's largest Ferrochrome
Exporter - A strategic alliance between high-profile Middle Eastern and South
African business leaders is set to challenge global monopolies in the supply
of beneficiated ferrochrome after the conclusion of a multi-million dollar
investment transaction this month. -
