This
page is archived news covering the period of September 2013
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Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Monday, September 30
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
$6.34/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading mixed, and mostly higher, yet quietly.
Stockpiles of nickel stored in LME approved warehouses fell for a third session,
and now total just over the 226,050 tonne level. Equity markets are down
as a US government shut down this evening seems more likely. Base metals
are mostly higher, puzzling after a flash China PMI by HSBC, came in lower
than expected. The reading remained positive, but just barely. Today the
third quarter of 2013 ends, and for nickel, it was a rather ho-hum few months,
with record breaking stockpiles the lead story. With China closed the rest
of the week for Golden Week, we expect teh first week of the final quarter,
to be no more eventful.
Average price of cash nickel so far this month - $6.25/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) According to the local media, China's production of stainless crude
steel in July 2013 was 1.57 million tons, up by 7.2% from the prior month.
(MF) Turkey’s imports of stainless flats jump by 28% y-o-y in July
(FW) In August 2013, the total production of metal fasteners in China reached
0.526 million tons, down 0.82% compared to the same period last year; during
January to August 2013, the total production of metal fasteners in China
was 4.063 million, up 5.52% compared to the same period last year.
Brazil's
Votorantim to halt Mirabela Nickel contract, close plant - Brazilian metals
producer Votorantim Metals said it will suspend operations at its 13,000
tonne a year nickel matte export plant in November and interrupt a supply
contract with Mirabela Nickel Ltd , an Australian miner that produces nickel
concentrate in Brazil's Bahia state. -
more
Poseidon
Nickel appoints new chairman, acknowledges Andrew Forrest's contribution
- Poseidon Nickel has reorganized its board with the election of H.E. "Bud”
Scruggs as its new chairman. -
more
Inuit employment
in Nunavik mines still weak - Nunavik Inuit still make up only 13 per cent
of the work force at the region’s only fully operational mine. -
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, September 27
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
$6.29/lb
. Indicators
at 7:30 am CST today show 3 month nickel trading around $.07/lb
higher, with all London
traded base metals trading higher as well. Stockpiles of nickel stored in
LME approved warehouses fell on Thursday, and now total just over the 226,200
tonne level. US Dow futures are lower this morning, and European markets
are sharply lower, on fears of a US shutdown. The rhetoric in Washington
amongst the hard liners remains the same, while the more level headed politicians
try to find a compromise. With a potential shutdown set for early next week,
time is beginning to work against them. In our opinion, Congress will find
a way out of this mess, with another last minute agreement that will kick
the can down the road for someone else to pickup. Yesterday one of the Fed
chairmen got the market excited as he discussed his personal thoughts on
QE. He would like to see it linked to the employment rate for the US and
pretty much guaranteed nothing will happen to it until the Bernanke term
has ended. The addicted loved this news, and the Dow ended higher for the
first time this week. The high has apparently already worn off today. Nickel
continues to roll higher, with Norilsk calling for mines who aren't making
money, to close. Makes one think it might not cost as much to produce a pound
of nickel in Russia's Siberia as in other parts of the world. Could be an
interesting weekend, with eyes on Washington. There is little we can do about
it individually except observe and prepare, but in the mean time, enjoy
the limited amount of weekends life has to offer.
Average price of cash nickel so far this month - $6.25/lb
Average cash price of nickel last month - $6.78/lb / average last year
- $8.08/lb
(Reuters) South Korea has bought a total of 420 tonnes of nickel for arrival
by Nov. 30 via tenders closed on Thursday, the state-run Public Procurement
Service said on its website.
Norilsk
Sees Nickel Surplus Shrinking Next Year on Idled Plants - OAO GMK Norilsk
Nickel, the world’s largest producer of the metal, urged producers to
start idling unprofitable operations to fight a surplus that has damped prices
and caused losses. -
more
Russia's Norilsk sees global loss-making nickel capacity cut in fourth-quarter
-
more
China's Stainless
Crude Steel Production in July Is 1.57 Mil. Tons = Up by 7% from prior month,
and apparent consumption is 1.167 million tons= According to the local media,
China's production of stainless crude steel in July 2013 was 1.57 million
tons, up by 7.2% from the prior month. -
more
Philippines
Mining Tax Backfires - The government’s take on mining in terms of royalties
fell by 18.4 percent year on year in the first semester to P577.55 million,
according to the Mines and Geosciences Bureau (MGB). -
more
Andrew
Forrest stands down from Poseidon Nickel - Andrew Forrest has stood down
from Poseidon Nickel ahead of an $8 million repayment deadline the junior
needs to settle with the mining billionaire. -
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, September 26
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
$6.27/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.03/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses rose to yet another record high on Wednesday and
now total 226,278 tonnes. Cancelled warrants also continue to break records
and have continued to run in the 20-21% range over the last few weeks.
Economic news from the US was positive yesterday but Congress' inability
to accomplish anything economically in Washington has markets nervous. The
US government reported yesterday that it estimates the US government will
run out of money on October 17th if Congress does not raise the debt limit.
And the government could shut down next week if Congress does not pass a
stop gap measure. Markets have gotten use to the Republicans forcing these
type of discussions down to the wire, but this time they seem to have backed
themselves into a corner by drawing a line in the sand and this has raised
eyebrows around the world. US market futures are higher this morning in
preparation of a day with lots of economic data to be released. Metal trading
could best be described as accomplishing about what a wave does. Up, then
down, back up, then back down, with something falling into the water occasionally
that causes a sharper rise in the peak, with a harder fall to follow. Overall,
its going nowhere, but without some up or down movement, traders can not
make any money. Today we are on day two of the upswing, and there is no reason
to believe this one will ever catch the attention of a surfer. It is interesting
to watch teh news and analysts these days. Ten years ago, when you talked
about nickel you were talking about Russia, Canada, or Australia. We even
found an article when researching the Philippines nickel market years ago,
that showed a huge mountain of what the article called 'junk' nickel, low
content laterite ore that wasn't worth processing. Ten years later, all anyone
wants to talk about is Indonesia and that low grade nickel ore that used
to get discarded. Its became so valuable to China that the country is actually
considering banning its export. And with nickel stockpiles continuing to
grow, some in the industry are hoping they do, while others feel the
supply keeps nickel prices competitive.
Average price of cash nickel so far this month - $6.25/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
(SSY) The world export price of hot rolled band slipped $4/t over the last
two weeks to $573/t, according to the latest SteelBenchmarker published by
World Steel Dynamics.
Commodities
‘Super Cycle’ Is Seen Enduring by McKinsey - Commodity supply
constraints and demand from emerging markets mean it’s premature to
talk about the death of the super cycle that brought a longer-than-average
period of rising prices, McKinsey & Co. said. -
more
China
firms to sign nickel smelter deals during Xi's Indonesia visit - At least
four China-backed Indonesian nickel smelter projects, including one worth
at least $3 billion, are expected to be finalized and announced during a
state visit by China's president to Jakarta next week, company executives
said. -
more
Antam
to Build Plant for Stainless Steel - State-controlled miner Aneka Tambang
is looking to expand its business by building a plant to produce stainless
steel, said the company’s president director, Tato Miraza. -
more
Indonesia's
Antam expects to ship up to 50 pct more nickel ore in 2013 - Indonesia's
PT Aneka Tambang (Antam) expects to export up to 50 percent more nickel ore
this year at 10 million-12 million tonnes, a director at the state-controlled
miner said. -
more
Nickel
Institute : Nickel in Tomorrow’s World: Tackling Global Challenges -
The Nickel Institute has today released a new report 'Nickel in Tomorrow's
World: Tackling Global Challenges' which highlights how nickel contributes
to technologies for a more sustainable society and economy, one which meets
the needs of a growing global population. -
more
US stainless
scrap recycler Keywell files for Chapter 11 - Chicago-based stainless scrap
recycler Keywell has filed for Chapter 11 bankruptcy protection as part of
an agreement to sell a substantial portion of its assets to rival stainless
scrap processor Cronimet, according to court documents filed Tuesday in the
Bankruptcy Court for the Northern District of Illinois. -
more
Low
nickel prices depress first half PHL mining royalties by 14% - Royalties
received by the Philippine government from mining companies fell by 14 percent
to P577.55 million in the first half of the year, from P707.4 million as
year earlier, the Mines and Geosciences Bureau (MGB) reported Thursday, citing
low nickel prices as a major factor in depressing revenues from the extractive
industry. -
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, September 25
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
$6.25/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading mostly higher, but quietly. Stockpiles
of nickel stored in LME approved warehouses set another all time record high
of 225,426 tonnes overnight. One year ago today, LME reported licensed warehouses
held 122,442 tonnes. Now that we have seen a 100,000 tonne gain over the
last 12 months, it is only a matter of time before we see the stockpile double
within a twelve month time - unless the source of supply slows. Nickel is
getting a boost from a stronger Euro this morning, and as long as the news
of a potential US government shutdown stay in the headlines, and the fight
over the U.S. debt limit looms, the Euro could benefit. These headlines are
also having a negative effect on equity markets, with Asia ending lower
overnight, Europe trading lower at the moment, and US futures lower as well.
We will get two reports this morning; sales of a new homes in the US and
a durable goods report, which could help US markets determine an early morning
direction. The gain of 7,062 tonnes in nickel over the last four days is
a staggering number and serves as a warning to stockholders of nickel mining
companies that shutdowns of smaller mines are possible.
Average price of cash nickel so far this month - $6.25/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
Vale, Fortescue see iron ore prices holding up on China demand -
more
Korea's
Import & Export Trends of Main Ferroalloys in August 2013 - Korea's import
& export statistics shows the import & export details of main ferroalloys
in August 2013 in attached Tables (1) & (2) respectively. -
more
Indonesia
Probably Won’t Ban Ore Exports in 2014, Lennon Says - Indonesia will
probably refrain from fully banning mineral ore exports in 2014 as the move
would spur unemployment in the producing regions, said Jim Lennon, commodities
consultant to Macquarie Group Ltd. -
more
Anglo American
Sees Barro Alto Nickel Output Cut Until 2016 - Anglo American Plc., the mining
company with operations from Australia to Brazil, expects output at its biggest
nickel project to remain curtailed until mid-2016 as it rebuilds two furnaces
to fix design problems. -
more
Lundin Mining
announces Eagle mine construction update - Lundin Mining Corporation today
provides a progress update on the continued development of the high grade
Eagle nickel/copper mine located in the Upper Peninsula of Michigan. -
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, September 24
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
$6.31/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals trading lower as well. Stockpiles continue to break
all time record highs, and for the eleventh time this month and third consecutive
day, they have done it again. Stockpiles now total 222,012 tonnes, just 400
tonnes shy of a 100,000 tonne gain in the last 52 weeks. With little else
to talk about, analysts continue to speculate on the effect of the planned
Indonesia export nickel ore ban due to take effect in 2014. There is also
some debate on whether Indonesia can afford to block a major source of income
for the country as its economy slows sharply. For short term traders, attention
has shifted from the US Fed to the US Congress, as another US government
shutdown looms - and this time looks more likely. Right on its heels will
be the debate on raising the US debt limit or run the risk of defaulting
on government obligations. The Republicans have drawn a line in the sand
and want their support for either of the two above contingent on Obamacare
being unfunded, something the Democrats and President refuse to negotiate
over. With Fed President's sending mixed signals about the future of stimulus
tapering, yesterday Lockhart of Atlanta reported the US economy is losing
steam and stimulus measures should continue. We are cynical and feel the
market is addicted to the stimulus measures and will be around ins some form
for many more months, and will only disappear when the Fed believes the effect
on the stock market, will be minimal.
Average price of cash nickel so far this month - $6.25/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
(MBN) Brazil's nickel output jumps 27% in August; zinc up 5.3%
Indonesia Vows to Stick With Tin Trade Policy as Prices Jump -
more
Russia can afford to keep Putin's social promises -
more
Both tropical Pacific and Indian oceans neutral -
more
Vietnam
Considers Removing Tax on Stainless Steel Scrap Exports - Vietnam’s
Ministry of Industry and Trade (MoIT) has proposed a policy to remove a 15
percent tax on the export of stainless steel scrap from Vietnam, according
to published reports. -
more
Anglo American
Sees Barro Alto Nickel Output Cut Until Mid-2016 - Anglo American Plc, the
mining company with operations from Australia to Brazil, expects output at
its biggest nickel project to remain curtailed until mid-2016 as it rebuilds
two furnaces to fix design problems. -
more
Courtesy AISI
- In the week ending September 21, 2013, domestic raw steel production was
1,877,000 net tons while the capability utilization rate was 78.3 percent.
Production was 1,751,000 net tons in the week ending September 21, 2012,
while the capability utilization then was 70.4 percent. The current week
production represents a 7.2 percent increase from the same period in the
previous year. Production for the week ending September 21, 2013 is up 1.8
percent from the previous week ending September 14, 2013 when production
was 1,843,000 net tons and the rate of capability utilization was 76.9 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, September 23
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
$6.37/lb
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metal trading mostly lower as well. Stockpiles of nickel
stored in LME approved warehouses rose to its tenth record high this month
and now totals 219,786 tonnes. Cancelled warrants area t record highs as
well and skate around the 20% level each day. China is back to work today
and according to a flash PMI survey issued by HSBC, they are slowly getting
busier. The spike in nickel prices after the surprise announcement by the
US Fed last week, did not last very long, and the traded price has nearly
returned to where it was trading the day prior to the announcement. With
stockpiles at record levels, and increasing nearly daily, it will take a
lot more than positive news from China to put nickel prices in a positive
trend. More mines will have to stop producing before we will see stockpiles
level off and start to recede. So far, that isn't happening and the cycle
continues. In the mean time, prices will continue to falter.
Average price of cash nickel so far this month - $6.25/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
(CSJ) China's manufacturing activities rose to a six-month high in September,
according to a preliminary survey from HSBC. The HSBC Flash Manufacturing
Purchasing Managers' Index (PMI) for September rose to 51.2, the highest
level since April and up from 50.1 in August, according to figures released
by HSBC on Monday.
(MF) Taigang Stainless cuts stainless steel export prices for September
China Nickel
Imports and Exports Data August 2013 - The General Administration of China
Customs released data of China's August imports and exports of nickel on
September. 23st(Unit: mt) -
more
SA
- Stainless change in Europe to hit demand for SA ferrochrome - Demand for
South African ferrochrome into Europe will decline as the European stainless
steel industry is in full consolidation mode and companies are forced to
keep operations as efficient as possible, Outokumpu Chrome VP ferrochrome
sales Mauri Kauppi said. -
more
Chrome ore
prices shoot up 16% in OMC e-auction - High grade chrome ore rates went up
to Rs 14,522 per tonne in the e-auction of the Odisha Mining Corporation
(OMC) from Rs 12,037 a tonne quoted in the August auction. Buyers said prices
moved up as the state-run miner had limited stocks this time. -
more
Molybdenum
oxide slips below $9.30 on pressure from weak market fundamentals - Molybdenum
oxide prices slipped below $9.30/lb Thursday, as sources reported lower offers
and bids as well a sale concluded in Europe in a quiet market. -
more
Fed leaves banks hanging as commodity asset deadline passes - The future
of Goldman Sachs' and Morgan Stanley's commodity businesses faces even greater
uncertainty after a key deadline for them to conform their physical trading
to U.S. regulations expired at the weekend without word from the Federal
Reserve. -
more
Talks to
sell ThyssenKrupp's Brazil site could collapse-source - German steelmaker
ThyssenKrupp may walk away from talks over the sale of its Brazil plant,
part of its loss-making Steel Americas business, a person familiar with the
matter told Reuters on Monday. -
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, September 20
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
$6.53/lb
. Indicators
at 7:15 am CST today show 3 month nickel trading around $.09/lb
lower, with other
London traded base metals lower as well. Stockpiles of nickel stored in LME
approved warehouses rose to their ninth all time record high this month and now
totals 219,246 tonnes. Nickel is backing off yesterday's US Fed monetary
policy induced high, but has refused to give back all of the gains. China
remains closed for the Moon Festival and will re-open on Monday. Little news
this week beside the Fed's action to drive metal traders, and nickel especially
is suffering from ever expanding and record level warehouse stockpiles. With
a Congress that can accomplish nothing and a US debt limit fast approaching,
we expect teh news in coming weeks to be less favorable for US traders, but
a weakened Dollar could help commodity traders. Time will tell. Have a restful
and safe weekend.
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
Prices of
CR Austenitic Stainless Sheets in Asia Rise to $2,550 CFR Prices of cold-rolled
(CR) austenitic stainless steel sheets in the Asian region are rising further
to $2,550 CFR -
more
Canadian
Companies: Why Is This OSC Decision In The HudBay Case Important For Your
Foreign Operations? - A July 22, 2013 decision by the Ontario Supreme Court
in Choc v. Hudbay Minerals Inc. is an important reminder to Canadian companies
with foreign operations. Here's why. -
more
Taiwanese
steelmaker YUSCO interested in Italian steel plant - Taiwan's Yieh United
Steel Corp (YUSCO) may join three other bidders for Outokumpu's Italian stainless
steel plant, sources said, in a move that would boost its international presence.
-
more
Market Trend
of Import of Ferroalloy as of September 13, 2013 =Mo rebounds and Si metal
demands price hike= Market trend of imports of ferroalloy as of September
13, 2013 is as follows. -
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, September 19
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
$6.32/lb. Indicators at
7:00 am CST today show 3 month nickel trading around $.15/lb
higher, with all London
traded base metals trading higher. Stockpiles of nickel stored in LME approved
warehouses fell on Wednesday and now totals just over 218,350 tonnes. On
Tuesday we noted "By not announcing some degree of tapering, the Fed could
send a signal that it is not confident in the resilience of the US economy,
and send an unintended shock thru the market." Apparently we were correct,
but not quite the way we thought. Convince an addict he is going to have
to quit and then slip him another baggie, you are going to shock them all
right. Into a new high. And traders responded accordingly - even if the economic
news that forced the Fed's hand wasn't all that bright. One Marketwatch author
was more gentle in his wording "The Federal Reserve kept the punch bowl spiked
a little longer in a surprise decision that postponed investors’ day
of reckoning." As we have mentioned before, we live in a much different world
and traders care less about the economy than to what degree the companies
they invest in do today. The decision by the Fed, in our opinion, is due
to two things. First the employment picture, while better than before, is
not a pretty one. Way too many people are still out of work, way too many
people are working part time jobs that want to work full time, and way to
many people have simply given up and quit looking. It's easy for the callous
to say 'there are plenty of jobs' out there, but there are many hard working
and honest people looking for a job. Regrettably, it has taken a sudden job
loss and self realization of how the world really operates, for some to lose
their callousness toward the unemployed. The second reason may be the industrial
production picture. Look at the graph in this Marketwatch article about Fed
Ex.
(article) Putting aside the up and down shifts from
monthly reports, this charts puts the overall US industrial production trend
in perspective and gives another snapshot of why commodity purchases are
struggling. The bad news economically that the Fed decision hinted at, was
good for the Euro, which bounced hard after the news came out and remains
higher this morning. This in turn was welcomed by commodity traders, which
got, and are getting, a Bernanke bounce from the Fed statement. How long
this bounce will last is anyone's guess. But the move is not being motivated
by positive economic news. So its staying power is highly questionable.
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
(SSY) China's daily steel production for 1-10 September edged 0.5% above
the level recorded during the last 11 days of August to 2.129 Mt, according
to data from the China Iron and Steel Association. Production is up 12% when
compared with the same period of last year.
CEOs Forecast Continued Slow Economic Growth -
more
Europe's economic
rebound to boost industrial metals demand - Increased demand in Europe as
it recovers from recession could tip the market balance for some industrial
metals, creating small but price-boosting deficits after years of surplus.
-
more
UAE And South
Africa firm alliance targets global leadership in Ferrochrome exports - UAE
based businessman, Mr Alibek Issaev, whose group of companies include growing
global software business Dudu Communications, acquired a 50% stake in FerroChrome
Furnaces (Pty) Ltd (FCF), a South Africa based producer of low and medium
carbon ferrochrome for the export market. -
more
FCF plans to corner niche market in world ferrochrome -
more
Service Center
Shipments Fall Back in August - After an encouraging start to the second
half, U.S. service center shipments backslide a bit in August, compared to
the previous year, in both steel and aluminum, according to the latest Metals
Activity Report from the Metals Service Center Institute, Rolling Meadows,
Ill. -
more
Intex’s nickel deposit - Intex Resources Philippines Inc. said Wednesday
its Mindoro Nickel Project can produce over $40 billion worth of nickel.
-
more
Mining petition
drive hits all 87 Minn. counties - A campaign by critics of proposed
copper-nickel mining in northern Minnesota says it has gathered petition
signatures from all 87 Minnesota counties. -
more
LME’s
Martin Abbott to be honoured by BIR - BIR’s upcoming World Recycling
Convention in Warsaw will be the backdrop for a special presentation that
the Non-Ferrous Metals Division under the presidency of Robert Stein (Alter
Trading, USA) will make to Martin Abbott, departing CEO of the London Metal
Exchange. -
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, September 18
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
$6.27/lb. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading higher as well. Stockpiles of nickel stored
in LME approved warehouses saw a gain that dwarfed the last three days of
losses and set a new all time record high of 218,448 tonnes. Markets are
mostly higher as traders await for the US Fed to announce whether it will
begin tapering of its stimulation measures or not, and to what degree if
so. Asian markets ended higher overnight, and China will be closed for the
rest of the week for a holiday. European markets are higher this morning
and US futures are higher as well. In our opinion, Fed Chairman Ben Bernanke
would have to announce a huge and immediate cut in tapering to really jar
the markets today, as most are betting on the beginning of a gradual withdrawal.
Commodities are getting a slight bump this morning, although we see no real
reason for it as the Euro is lower.
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
(SO) The China Iron and Steel Association (CISA) has announced that in early
September (Sept 1-10) this year the average aggregate daily crude steel output
of large and medium-sized steel enterprises in China totaled 1.7625 million
mt, up 1.29 percent compared to late August (August 21-31). Meanwhile, the
average aggregate daily crude steel production of all steelmakers in China
in early September was estimated at 2.1294 million mt, indicating an increase
of 0.48 percent compared with late August.
(TSS) The Ontario Ministry of Labour was notified about seismic activity
that occurred Monday about 11 a.m. at Nickel Rim South Mine, but the ministry
won't be investigating the incident.
China cuts coal use, steel capacity in northern regions -
more
China
Ferrochrome: Market waits for steelmakers' bid prices - Chinese domestic
spot prices of high carbon ferrochrome (50% basis Cr) were unchanged week-on-week
at Yuan 6,850-7,000/mt (84.5-86 cents/lb) Wednesday in quiet trading prior
to announcements of October purchase prices from major stainless steelmakers
and mid-autumn festival holidays in China Thursday to Saturday. -
more
Nickel giant
Vale fined $1M over Sudbury mine deaths - Toronto-based Vale Canada Ltd.,
which owns and operates several mines in the Sudbury area, has been fined
more than $1 million after two workers were fatally injured in June 2011.
-
more
July Improvement
Disappears in August - U.S. and Canadian shipments of both steel and aluminum
returned to the year-over-year trend that was experienced earlier this year
in contrast to the modest growth displayed last month. -
more
Slow and
Steady Wins the Race Says Lundin CEO Conibear - Lundin Mining Corp., the
best performer among Canadian base-metal companies, is betting that a cast-off
from the world’s second-biggest miner will help double output. -
more
Vale's Manitoba
Operations has reached 95 per cent of cost savings goal, Lovro Paulic says
- Vale, which is trying to find $100 million in cost savings at its Manitoba
Operations in Thompson, has achieved 95 per cent of that goal over the last
year – a cost savings of $95 million with $5 million still to go,
vice-president Lovro Paulic told the Thompson Chamber of Commerce Sept. 11.
-
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, September 17
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
$6.29/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading mixed and quietly. Stockpiles of nickel
stored in LME approved warehouses did something it hasn't done since June
yesterday - when it dropped for a third consecutive session. It now totals
just over 216,300 tonnes. Markets are quiet today as eyes shift to Washington
DC and the start of the two day meeting of the US Federal Reserve. Most
economists tend to bet the Fed will announce a slight reduction in its asset
purchase program tomorrow. And for a market addicted to, yet resigned
to the fact, that this free money from the Fed will gradually end, the withdrawal
symptoms appear to be far less than feared - except for emerging markets.
The markets have a way of 'influencing' what will happen at these Fed meetings,
whether anyone will admit it or not, and a slight tapering appears to have
already been priced into the stock market. By not announcing some degree
of tapering, the Fed could send a signal that it is not confident in the
resilience of the US economy, and send an unintended shock thru the market.
Asian markets ended lower overnight, European markets are trading lower this
morning, and US futures are flat. We expect the markets to return to their
bull run unless the Fed decides to force the markets into a cold turkey taper.
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
(MF) According to data released by Japan’s Ministry of Finance, the
country’s stainless steel output totaled 239,450 tons in July, falling
by 4.1% month on month and down by 0.5% year on year.
(SMM) Prices for high-grade nickel pig iron (NPI) are expected to decline
after breaking through 1,000 yuan ($163) per metal unit as London Metal
Exchange's nickel prices fell. The prices for high-grade NPI rose above 1,000
yuan per nickel unit at the end of August on supply shortages
Thousands again protest Xstrata Nickel’s planned mine - Thousands of
people gathered Saturday afternoon at the entrance to the Xstrata Nickel
Falcondo’s mining project at La Vega province, backing up traffic for
miles on the Duarte highway’s southbound lanes. -
more
Rock blast
disrupts Nickel Rim Mine - A rock blast at Sudbury's Nickel Rim mine temporarily
shut the mine down Monday, but there were no injuries, said the president
of Mine Mill 598. -
more
Chinese steel
demand built on a "house of cards" - World Steel Dynamics - Chinese demand
for steel may begin to decline within two years as the country seeks to
"rebalance" its economy, according to Philipp Englin, director general of
information service World Steel Dynamics. -
more
Indonesia's
widening deficit takes toll on resource nationalism drive - Indonesian
policymakers are scrambling to ease nationalistic resource rules that threaten
to slash mining exports from January and potentially widen a current account
deficit already at a near-record high. -
more
Largest
ore carrier in the world docks for the first time at Pier IV - A new milestone
was reached in the construction work at Pier IV of the Ponta da Madeira Terminal
in São Luís, Maranhão. -
more
Courtesy AISI
- In the week ending September 14, 2013, domestic raw steel production was
1,843,000 net tons while the capability utilization rate was 76.9 percent.
Production was 1,751,000 net tons in the week ending September 14, 2012,
while the capability utilization then was 70.4 percent. The current week
production represents a 5.3 percent increase from the same period in the
previous year. Production for the week ending September 14, 2013 is down
1.5 percent from the previous week ending September 7, 2013 when production
was 1,872,000 net tons and the rate of capability utilization was 78.1 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, September 16
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
$6.29/lb. Indicators
at 6:50 am CST today show 3 month nickel trading unchanged
, with other London
traded base metals quietly mixed. Stockpiles of nickel stored in LME approved
warehouses fell for a second consecutive session and now total just over
the 217,000 tonne level. While commodity trading is mostly non existent so
far this week, equity markets are higher. Asia, European and American futures
are all higher, or have closed higher to start the week. The controversial
Lawrence Summers has withdrawn his name as a potential replacement for Ben
Bernanke at the helm of the Federal Reserve. The US economy is showing signs
of cooling in some area, which also has traders betting the Fed will limit
its tapering expected to be announced later this week. And Russia and the
US announced a deal over the Syrian chemical weapons crisis over the weekend.
With this trifacto of good news, equity markets around the world are higher.
US traders have entered another one of those bullish markets where good news
is enthusiastically welcomed as a signal to drive stock higher, while negative
news is mostly poo-poohed. For equity traders, the trend is your friend,
while for commodities, its al quiet on the western front.
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
(ARM) According to Business Day, ARM is anticipated to buy the 50% stake
in Nkomati Nickel currently on sale by Russia's Norilsk Nickel. Nkomati is
a 50-50 joint venture between Norilsk and ARM thus giving ARm right of first
refusal on Norilsk's 50% shareholding. However, ARM could not elaborate further
on their plans.
Russian
metal giants pause Australian activity - According to official Russian
statistics, in the first three months of 2013 trade turnover fell by almost
40 per cent to $US 227 million, compared to the same period in 2012. -
more
Atlas
seeks higher copper production - Atlas Consolidated Mining and Development
Corp. said over the weekend it plans to increase copper production this year
to 100 million pounds from last year’s 90 million pounds. -
more
100
Years of Stainless Steel in Maastricht - The International Stainless Steel
Forum, its members and its partners would like to invite you to the 100 Years
of Stainless Steel exhibition from 12 to 14 November 2013 at the Stainless
Steel World Conference and Expo in Maastricht. -
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, September 13
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
$6.23/lb. Indicators
at 7:20 am CST today show 3 month nickel trading around $.05/lb
lower, with other
London traded base metals trading mixed and mostly quietly. Stockpiles of
nickel took a slight dip yesterday, for only the third time this month, and
ended just over the 217,400 tonne level. Markets are waiting for retail sales
and consumer confidence numbers out of the US today, but in the mean time,
they are speculating with their trades o what the Fed may or may not do next
week at its monthly Fed meeting. Tapering of the all important Fed easing
is on the minds of all, and the addicted market is not sure what will happen
during the withdrawal symptoms. Nickel has little to trade on, and with little
current market news besides a growing stockpile, traders are looking to what
Indonesia may or may not do in January, in regards to the possible ban of
nickel ore to China. Cancelled warrants have been in the 20% range over the
last week, surprising because stockpiles seem to hit a new all time record
high on a daily basis now. If the news out of the US is negative, we may
see a bump in the Euro which would help nickel recover on the day. Have a
safe and relaxing weekend!
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
(SMM) Indonesia remains a wild card in regard to its controversial ban on
mineral exports from 2014, managing director of Indonesian Nickel Association,
Mag. Faisal Emzita, told Shanghai Metals Market in an interview this week.
``To ban in words is different from banning on paper,’’ Emzita
said in Shanghai on Tuesday, ``The eastern way means everything is behind
closed doors.’’
(MB) The Philippines will not be able to meet China's nickel needs if Indonesia
bans ore exports in 2014, according to the largest nickel ore producer in
Philippines.
(AMM) Chinese nickel pig iron prices overtook refined nickel prices thanks
to an August rally in which stainless steel mills increased purchases.
China's spot
prices for imported ferrochrome rise as rupee, rand recover - The Chinese
spot prices for imported high carbon ferrochrome and charge chrome into China
rose this week following a recovery in the Indian rupee and South African
rand against the US dollar. -
more
Intex
budgets $2.8B for Mindoro nickel project - Intex Resources ASA of Norway
has committed to invest $2.8 billion in the development of its flagship Mindoro
nickel project. -
more
China's Steel
Export in Aug. Showed First-ever Level of 6 Million Tons/Mo. - China's export
quantity of steel products (except steel ingots/semi-finished products) in
August hit a record high of 6,140 thousand tons (hereinafter abbreviated
as t/t). -
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, September 12
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
$6.27/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.07/lb
lower, with other
London traded base metals trading lower, some sharply. Stockpiles of nickel
stored in LME approved warehouses rose for a third consecutive session to
an all time record high and now totals 217,650 tonnes. In overnight trading
Asian markets ended slightly lower, while European markets are trading lower
this morning after a report showed EU industrial production dropped
sharply in July. US futures show uncertainty amongst US traders this morning.
US markets ended higher again yesterday, as traders apparently rush to 'get
it while the gettin' is good'. With debt ceiling talks to begin soon, a potential
Syria military strike looming, and most importantly to traders, an inevitable
tapering in the future, markets are assured of some volatility in the near
future. We would say this could apply to metals as well except traders appear
to be less speculative about future supply and demand of commodities, except
the more commonly traded by the public, ie oil and gold, silver and
copper in metals. Stockpiles of nickel are up 2.6% so far this month alone,
and up 44.5% from this date last year. With those inventory numbers in play,
we don't expect much more than dead cat bounces in nickel pricing for the
remainder of the month.
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
(SSY) The world export price of hot rolled band has increased by $7/t over
the last two weeks to a 5-month high of $577/t, according to the latest
SteelBenchmarker published by World Steel Dynamics.
Consumer Reports Index: Americans Report Sharp Rise In Financial Troubles
As Sentiment Continues Slide -
more
Goldman Sees
China’s Commodity Demand Rebounding to December - Commodity demand in
China, the world’s largest user of iron ore, copper and tin, will rebound
through the end of the year as infrastructure projects gather pace and users
restock, according to Goldman Sachs Group Inc. -
more
China's Stainless
Crude Steel Prod. Anticipated to Exceed 25 Mil. Tons by 2020 =This was announced
in speech in 8th China Int'l Stainless Steel Congress 2013= The 8th China
International Stainless Steel Congress 2013 was held in Shanghai, and it
was announced that China's stainless crude steel production is anticipated
to exceed 25 million tons by 2020, and also the apparent consumption is
anticipated to exceed 20 million tons. -
more
Norilsk
Tipped as Possible Uralkali Buyer - Metals giant Norilsk Nickel might buy
a 21.7 percent share in the potash producer Uralkali from its major shareholder
Suleiman Kerimov, who is seeking to resolve a conflict with the Belarussian
government, a news report said Wednesday. -
more
Norilsk
Board Approves Strategy Review to Sell Overseas Mines - OAO GMK Norilsk Nickel,
the world’s largest producer of nickel and palladium, plans to sell
international assets to focus on profitable mines in northern Russia, according
to a strategy review agreed by its board. -
more
Cliffs Natural
Resources rebuffed - Developing the mineral-rich Ring of Fire area of
Northwestern Ontario could be pushed back years if Cliffs Natural Resources
appeals a ruling by the Ontario Mining and Lands Commissioner, a mining rival
suggested Wednesday. -
more
Alcoa Urges LME to Improve Transparency for Clear Aluminum Price-Setting
and to Enable Premium Hedging for Price Risk Management - Alcoa AA -0.12%
has submitted a letter to the London Metal Exchange (LME) to comment on proposed
warehouse rule changes and to recommend solutions to effectively address
the business needs of aluminum producers and consumers. -
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, September 11
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
$6.23/lb
. Indicators
at 6:45 am CST today show 3 month nickel trading around $.01/lb
higher, with other
London traded base metals trading quietly higher. Stockpiles of nickel stored
in LME approved warehouses hit another all time record high yesterday, and
now sits at 216,108 tonnes. For those trivia buffs, switch the numbers of
today's nickel inventory total, and you can get the total for September 10th,
2012 - 120,816 tonnes. In overnight trading, Asian markets ended slightly
lower, European markets continue trading higher today, and US futures show
US traders intend to continue their rally today. An off the cuff remark by
the US Secretary of State on Monday, has completely changed the coarse of
events in Syria and markets around the world have rebounded as the risk for
a US military strike has declined. While the Syria issue will not go away
until the world decides that Syria and Russia are acting in good faith and
allow the disposal of Syria's chemical weapon stockpiles, upcoming market
movers include the meeting next week by the US Fed and a potential tapering
timetable, and another debt fight in Congress for October. For today, markets
look to trade fairly quietly, with nickel no exception...... so far.
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
(Standard Bank daily report) China’s crude steel output for August YTD
reached 521.84mt, up a strong 7.8% y/y, in line with GDP growth, and way
beyond CISA’s 3% forecasts.
(AMM) Glencore Xstrata Plc will raise its annual nickel output to almost
200,000 tonnes by 2015 from 139,000 tonnes in 2012, it said.
China's finished steel exports surged 45% in August this year -
more
(US) Small Business Optimism Flat, Down 0.1 Points -
more
Asia stainless
steel mills to benefit from Chinese nickel-pig-iron from Indonesia - Chinese
firms operating nickel mines in Indonesia are likely to step up plans to
build nickel-pig-iron plants in the Southeast Asian country in order to continue
shipping ores back home, which would help support higher production in China
next year. -
more
Low prices
take toll on Cuban nickel revenues - Cuban nickel industry revenues were
well below expectations in the first six months of the year, mainly because
of low international prices, official radio reported this week. -
more
China
Ferrochrome: Domestic prices steady as buyers wait and see - Chinese domestic
spot prices of high carbon ferrochrome (50% basis Cr) were steady week on
week at Yuan 6,850-7,000/mt (equivalent to 84-86 cents/lb) Wednesday as buying
activities were limited by more consumers adopting a wait-and-see attitude,
China-based industry sources said. -
more
Canada's
TVI Pacific expects revenue from Agusan nickel mine by 2014 - The Canadian
company that is digging for nickel in Agusan del Norte said feasibility studies
undertaken so far indicate that the project could generate revenue. -
more
Drilling
boosts nickel miner Mincor's Kambalda reserves - Nickel miner Mincor Resources
says a recent drilling program has increased the ore reserves at its operations
in Kambalda. -
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, September 10
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
$6.31/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.06/lb
lower, with most
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to yet another all time record high on Monday
to 215,808 tonnes. That's five new records for the first seven reporting
days of September. On more positive economic news from China, Asian markets
ended higher, European markets are trading higher, and US futures hint at
a higher opening. It is looking less likely President Obama will get
Congressional approval for military action against Syria, and an inadvertent
remark by Secretary fo State Kerry yesterday has the world scrambling for
a potential back door to the immediate crisis. Nickel is not benefiting from
the positive news from China and continues to retreat from last week's mini
hike. While it appears some of the less profitable nickel mines are trying
to hold on till the end of the year, when an expected Indonesia ban on the
export of nickel ore could potentially drive prices higher, the continuous
rise on stockpiles is going to force the eventual closure in some mines -
or the current cycle will continue.
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
Glencore Raises Xstrata Cost Savings Estimate to $2 Billion -
more
Tropical Pacific and Indian oceans both neutral -
more
Korean,
Taiwanese Mills Also Raise Domestic Prices of CR Austenitic Stainless Sheets
- Following that the major stainless steel mills like Taiyuan Iron &
Steel and Baoshan Iron & Steel raised their domestic prices of cold-rolled
(CR) austenitic stainless steel sheets by 1,500 CNY ($242) for September
shipment, the Korean and Taiwanese mills also set out in succession an increase
in prices of CR austenitic ones for September shipment. -
more
SUS Scrap
Market in Sept. Continues to Be Firm Following Prior Month =Domestic traders
continue to take strong attitude to buy due to decrease in generation of
scraps in summer= Currently, the market for nickel-containing stainless steel
scrap (SABOT) has continued to rise while carrying over the firm situation
during August. -
more
Xstrata Nickel’s Loma Miranda project not a closed case: Mining chief
- Nickel mining at Loma Miranda isn’t a closed case, said Mining director
Alexander Medina on Sunday, and affirmed that Xstrata Nickel Falcondo will
conduct further studies and propose extraction techniques with lower
environmental impact to request a new Environment Ministry permit, aimed
at extracting 20 million tons of the ore. -
more
China slowdown
spells end of big payday for iron ore traders - With China's insatiable appetite
for iron ore cooling alongside a slowing economy, once in-demand traders
of the steelmaking raw material face a new reality: fewer financial perks
and tougher resume requirements. -
more
PNG activist
calls for a ban on dumping mining tailings in the sea - An environmental
activist in Papua New Guinea has called for a total ban on dumping mining
tailings in the sea, calling the practice a “long term death sentence”
for local communities. -
more
Russia's
Norilsk CEO says to change dividend policy - FT - Russia's Norilsk Nickel
, the world's biggest nickel producer, will have to change its dividend policy
due to weak metals markets, its chief executive and co-owner Vladimir Potanin
said in a newspaper interview on Monday. -
more
Courtesy AISI
- In the week ending September 7, 2013, domestic raw steel production was
1,872,000 net tons while the capability utilization rate was 78.1 percent.
Production was 1,751,000 net tons in the week ending September 7, 2012, while
the capability utilization then was 70.4 percent. The current week production
represents a 6.9 percent increase from the same period in the previous year.
Production for the week ending September 7, 2013 is up 0.9 percent from the
previous week ending August 31, 2013 when production was 1,856,000 net tons
and the rate of capability utilization was 77.5 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, September 9
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
$6.34/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.04/lb
lower, with most
London traded base metals trading lower, but quietly.Stockpiles of nickel
stored in LME approved warehouses fell slightly over the weekend, after hitting
an all time record high on Friday of 215,538 tonnes, and now total just under
215,400 tonnes today. Of six reporting days thus far this month, four new
all time record highs have been reported. After rising for two days, nickel
is lower this morning as positive export news from China is overshadowed
by Libyan concerns. The US August employment report issued Friday also did
little to clue anyone to any Fed easing date or the degree of the expected
tapering. Asian markets ended higher overnight, Europe markets are mostly
lower, and US futures are quiet. The US Senate may vote as early as Wednesday
about Syria and the US Fed meets next week. Expect some volatility in nickel
trading over the next few weeks. The short term trend to nickel trading is
neutral to positive ,while mid and long term trends remain negative.
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
(WSJ) Russia's Norilsk Nickel, the world's largest nickel and palladium producer,
is looking to exit its Australian mine assets and has hired Citigroup to
handle the sale. -
more
Shipping Index Surges Most Since 2010 as Ore and Grains Climb -
“We’ve seen pretty large amounts of iron ore, coal, grains and
mineral cargoes including nickel ore,” said Jeffrey Landsberg, the New
York-based managing director of Commodore Research & Consultancy, an
adviser to ship owners. “That’s helping freight rates across the
board.” -
more
International stainless steel exposition in Shanghai -
more
Sundram Fasteners to leverage US exports for growth -
more
Outokumpu
Asia President: China A "Growth Engine" for Global Stainless Steel Market
- China's goal to become a consumption-driven economy will lead to sustained
demand growth for the global stainless steel market, said a top executive
from the world's largest stainless steel producer, Outokumpu Oyi -
more
$1.6-B
mining venture sets commercial start - A Japanese-Philippine nickel project
in northeastern Mindanao -- touted to be the biggest mining investment in
the country, so far -- is scheduled to start commercial production next quarter,
according to a Sept. 4 statement on the Web site of Sumitomo Metal Mining
Company Ltd. (SMM). -
more
Import of
SUS Products in July 2013 Is 16,800 Tons =Up by 7% from prior month due to
increase in imports from Korea and China= The import quantity of stainless
steel products in July 2013 which was compiled by The Japan Iron and Steel
Federation based on the trade statistics prepared by the Ministry of Finance
was 16,800 tons, up by 7.3% from the prior month (15,658 tons). -
more
Crude SUS
Production by Major SUS Mills in July Is 310,071 Tons =Down by 0.5% from
prior month= The crude stainless steel production by 7 major stainless steel
mills in July 2013 was 310,071 tons, down by 0.5% from the prior month (311,690
tons). -
more
Mining
Magnate Palmer in Contention to Be Australia Lawmaker - Australian mining
magnate Clive Palmer led the vote count for the lower-house district of Fairfax
in his native Queensland state, putting him on course to win a seat in the
federal parliament after the Sept. 7 election. -
more
Take
a sip and see if it is not poisonous - “I’m here with the real
thing and I want you all to take a sip to see if its poisonous.” -
more
Tati Nickel
Walks for Charity - For the fourth year running Tati Nickel mine will host
its annual Managing Director’s Charity walk next weekend. -
more
Steel firm
makes a big difference - China's spectacular growth over the past 30 years
has exacted a heavy toll on its environment, and now the country's leaders
are seeking to rebalance the quest for economic success and the need for
sustainable development. -
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, September 5
Due
to a medical situation, our next scheduled update will be Monday, September
9th. There will be no update on Friday and we apologize for any inconvenience
this may cause. Have a safe and relaxing weekend.
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
$6.20/lb. Indicators
at 6:40 am CST today show 3 month nickel trading around $.02/lb
higher, with other
London traded base metals trading mostly higher. Stockpiles of nickel stored
in LME approved warehouses rose to its third all time record high in the
four reporting days this month, at 214,386 tonnes. Traders are pushing worries
about Libya and US Fed tapering to the side for the time being and markets
around the world have ended higher, are trading higher, or appear they will
open higher. In the US 10 year treasury yields hit a two year high this morning,
which will put some negative pressure on US markets early. Yesterday's auto
sales numbers were very positive and traders will look to tomorrow's August
employment numbers for more clues on the pace of the Fed's tapering moves,
expected to be announced later this month. In the mean time, the economic
news remains positive in most areas of the world, and while one can find
plenty to be worried about, or negative aspects to just about all the positive
news, the truth remains that the world is in economic recovery. It's not
fast enough for anyone and some areas of the world are filling it more than
others, and some have yet to benefit from it at all. As far as the nickel
market goes, while it means far less than it used to, the law of supply and
demand is hobbling the nickel market. With nickel hitting an all time high
over $20/lb less than a decade ago, and all signs pointing to a commodity
boom that would last for years, major investment rolled into building new
nickel mines. Most of those mega mines are now producing nickel. In the mean
time, the Chinese, once again showing their ingenuity and making due with
what they have, turned low content nickel ore, into a viable source. In the
beginning the 'experts' dismissed teh so called pig nickel as just an expensive
alternative that the Chinese were using to fill a temporary gap in supply.
But the supply stuck and now the 'experts' are predicting the price of nickel
will benefit when Indonesia bans the export of this ore at years end. It
all remains to be seen.
Average price of cash nickel so far this month - $6.48/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
Norilsk extends Aussie losses - Russian mining giant Norilsk Nickel has extended
its run of losses in Australia, with its major local operating subsidiary
booking an after-tax loss of $69.2 million last calendar year. -
more
Steel Is
Rallying With Chinese Builders Beating Mills - The fastest Chinese steel
output on record is still too slow to meet demand from builders, reducing
inventories and driving prices toward a bull market. -
more
U.S., World
Crude Steel Production Up in July - World crude steel production in July
totaled 132 million metric tons, according to the latest data from the
Brussels-based World Steel Association. -
more
Chris Verbiski
Turned A Nickel Mine Discovery Into Two Of The Finest Fishing Lodges In The
World - The best Atlantic salmon fishing outfit in Labrador–and just
possibly in all of North America–was born in the gloaming of Sept. 16,
1993, when two mineral prospectors made the discovery of a lifetime.
- 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, September 4
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
$6.21/lb. Indicators
at 6:45 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses rose to a new record high on Tuesday and now total
213,804 tonnes. One year ago today, these same warehouses held 119,724 tonnes
of nickel. In a repeat of yesterday's morning report, Asian markets ended
mostly higher overnight, while European equity markets are lower this morning.
US futures are lower this morning, with yesterday's decision by House Majority
Leader Boehner to support President Obama's call for US military action
against Libya shifting yesterday's early morning momentum. Traders have become
accustomed to House Republicans playing Congressional spoilers to any of
the President't plans and the support from Republican leadership, took the
market by surprise. Today, traders are dealing with all the positive economic
news from the last few days, and what effect higher interest rates in the
US will have on the overall market. Nickel continues to feel the strain of
record breaking inventory levels.
Average price of cash nickel so far this month - $6.48/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
(MB) Stainless steel producers should sue customers who cancel orders when
nickel prices fall, London Metal Exchange ceo Martin Abbott told delegates
at Metal Bulletin’s 12th International Stainless and Special Steel Summit
in London on Wednesday September 4.
(MF) India’s stainless steel production to hit 4 million tons by 2015
China
miner gets control of Rio Tinto mine - China Molybdenum has cleared a key
hurdle to taking control of Rio Tinto Northparkes copper mine, with Japan’s
Sumitomo Metal Mining and Sumitomo Corp deciding not to match the Chinese
miner’s US$820 million (RM2.69 billion) bid. -
more
Courtesy AISI
- In the week ending August 31, 2013, domestic raw steel production was 1,856,000
net tons while the capability utilization rate was 77.5 percent. Production
was 1,897,000 net tons in the week ending August 31, 2012, while the capability
utilization then was 76.3 percent. The current week production represents
a 2.2 percent decrease from the same period in the previous year. Production
for the week ending August 31, 2013 is down 0.3 percent from the previous
week ending August 24, 2013 when production was 1,861,000 net tons and the
rate of capability utilization was 77.7 percent.
Clive
Palmer's Qld Nickel threatens legal stoush over Minister Andrew Cripps' nickel
refinery claims - Billionaire Clive Palmer's Queensland Nickel says it is
considering legal action against the State Government over allegations made
about the performance of its Yabulu refinery near Townsville. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply reports and information
free of charge.Contact
us
Tuesday, September 3
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
$6.24/lb
. Indicators
at 6:50 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading lower as well. Stockpiles of nickel stored
in LME approved warehouses fell off a new record high reported on Monday
of 213,378 tonnes and now totals just over 213,250 tonnes. Asian markets
closed mostly higher overnight, while European markets are trading lower
this morning. US futures are solidly higher after higher production PMI numbers
were reported from China and Europe, with US PMI numbers due out today. Of
22 reporting days in August, the LME reported nickel stockpiles in their
licensed warehouses rose to new record highs on 11 of them. For September,
we are already at 50% with only two days reported. Stockpiles continue to
grown but nickel mines apparently are trying to hold on till year end to
see if the Indonesia nickel ore ban will kick in, and if so, if its
effect on China will have an immediate price reflection. Supply and demand
values are working against nickel, while fund investment is timid and quick
to fell at signs of trouble. Short term nickel trading remains neutral while
mid and long term trends remain negative.
Average price of cash nickel so far this month - $6.48/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
(IBT) HSBC China Manufacturing PMI Rises To 50.1 In August From 47.7 In July,
Signaling Expansion In The Sector For The First Time In Four Months
(SSY) China's daily steel production for 11-20 August edged down from the
first ten days of May to 2.118 Mt, according to data from the China Iron
and Steel Association. However, production still remains up by 10% when compared
with the same period of last year.
(FAN) According to local resources, the stocks of stainless steel products
totaled 165,114 tons in the first half of August, falling by 8.49% from the
previous 15 days.
German Screw & Nut Industry Import and Production Turned Weak in 2012
-
more
North American
Stainless - For the month of September 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 September and will be
reviewed monthly.
Nickel Seen
Falling Toward Four-Year Low: Technical Analysis - Nickel, the worst performing
industrial metal on the London Metal Exchange this year, may extend its decline
toward a four-year low of $13,200 a metric ton, according to technical analysis
by Societe Generale SA. -
more
[Korea's
Steel Statistics] Demand & Supply Result for Ferroalloys in May 2013
- The actual result of demand and supply for ferroalloys in Korea in May
2013 which was compiled by Korea Iron and Steel Association (KOSA) is as
per the table below. -
more
Stainless
steel imports to Russia grow - According to SpetsStal's appraisal, the volume
of stainless steel imports to Russia in July 2013, if compared with June,
rose 18.8% to 22,249 tons (in June – +4.5%). -
more
Russia's stainless steel exports fell in July - According to SpetsStal's
latest appraisal, the volume of stainless steel exports in July 2013, if
compared with June, fell 44.3% to 1,929 tons (while in June it rose 60.8%).
-
more
Surigao
mine facility to open - Second district Rep. Francisco Matugas said Senator
Allan Peter Cayetano will represent President Benigno Aquino III on Wednesday
to open a mine waste facility of THPAL Nickel Corp. in Surigao del Norte.
-
more
Ring of
Fire: Strategic Chromite and the Commodity Super-Cycle [Part One of Two]
– by Stan Sudol (Sudbury Star – August 30, 2013) -
more
Ring of Fire: Chromite Crumbs or Stainless Steel for Ontario? [Part Two of
Two] – by Stan Sudol (Sudbury Star – August 31, 2013) -
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
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(8:00 AM CST is 1PM in London)
. Indicators
at 7:00 am CST today show 3 month nickel trading around $.01/lb
lower, with other
London traded base metals trading mixed, and mostly higher, yet quietly.
Stockpiles of nickel stored in LME approved warehouses fell for a third session,
and now total just over the 226,050 tonne level. Equity markets are down
as a US government shut down this evening seems more likely. Base metals
are mostly higher, puzzling after a flash China PMI by HSBC, came in lower
than expected. The reading remained positive, but just barely. Today the
third quarter of 2013 ends, and for nickel, it was a rather ho-hum few months,
with record breaking stockpiles the lead story. With China closed the rest
of the week for Golden Week, we expect teh first week of the final quarter,
to be no more eventful.
Reports
Commodity/Economic Comments
Brazil's
Votorantim to halt Mirabela Nickel contract, close plant - Brazilian metals
producer Votorantim Metals said it will suspend operations at its 13,000
tonne a year nickel matte export plant in November and interrupt a supply
contract with Mirabela Nickel Ltd , an Australian miner that produces nickel
concentrate in Brazil's Bahia state. -
Poseidon
Nickel appoints new chairman, acknowledges Andrew Forrest's contribution
- Poseidon Nickel has reorganized its board with the election of H.E. "Bud”
Scruggs as its new chairman. -
Inuit employment
in Nunavik mines still weak - Nunavik Inuit still make up only 13 per cent
of the work force at the region’s only fully operational mine. -
Morning Nickel
Price Statistics & Figures
Norilsk
Sees Nickel Surplus Shrinking Next Year on Idled Plants - OAO GMK Norilsk
Nickel, the world’s largest producer of the metal, urged producers to
start idling unprofitable operations to fight a surplus that has damped prices
and caused losses. -
China's Stainless
Crude Steel Production in July Is 1.57 Mil. Tons = Up by 7% from prior month,
and apparent consumption is 1.167 million tons= According to the local media,
China's production of stainless crude steel in July 2013 was 1.57 million
tons, up by 7.2% from the prior month. -
Philippines
Mining Tax Backfires - The government’s take on mining in terms of royalties
fell by 18.4 percent year on year in the first semester to P577.55 million,
according to the Mines and Geosciences Bureau (MGB). -
Commodities
‘Super Cycle’ Is Seen Enduring by McKinsey - Commodity supply
constraints and demand from emerging markets mean it’s premature to
talk about the death of the super cycle that brought a longer-than-average
period of rising prices, McKinsey & Co. said. -
China
firms to sign nickel smelter deals during Xi's Indonesia visit - At least
four China-backed Indonesian nickel smelter projects, including one worth
at least $3 billion, are expected to be finalized and announced during a
state visit by China's president to Jakarta next week, company executives
said. -
Nickel
Institute : Nickel in Tomorrow’s World: Tackling Global Challenges -
The Nickel Institute has today released a new report 'Nickel in Tomorrow's
World: Tackling Global Challenges' which highlights how nickel contributes
to technologies for a more sustainable society and economy, one which meets
the needs of a growing global population. -
US stainless
scrap recycler Keywell files for Chapter 11 - Chicago-based stainless scrap
recycler Keywell has filed for Chapter 11 bankruptcy protection as part of
an agreement to sell a substantial portion of its assets to rival stainless
scrap processor Cronimet, according to court documents filed Tuesday in the
Bankruptcy Court for the Northern District of Illinois. -
Korea's
Import & Export Trends of Main Ferroalloys in August 2013 - Korea's import
& export statistics shows the import & export details of main ferroalloys
in August 2013 in attached Tables (1) & (2) respectively. -
Vietnam
Considers Removing Tax on Stainless Steel Scrap Exports - Vietnam’s
Ministry of Industry and Trade (MoIT) has proposed a policy to remove a 15
percent tax on the export of stainless steel scrap from Vietnam, according
to published reports. -
SA
- Stainless change in Europe to hit demand for SA ferrochrome - Demand for
South African ferrochrome into Europe will decline as the European stainless
steel industry is in full consolidation mode and companies are forced to
keep operations as efficient as possible, Outokumpu Chrome VP ferrochrome
sales Mauri Kauppi said. -
Chrome ore
prices shoot up 16% in OMC e-auction - High grade chrome ore rates went up
to Rs 14,522 per tonne in the e-auction of the Odisha Mining Corporation
(OMC) from Rs 12,037 a tonne quoted in the August auction. Buyers said prices
moved up as the state-run miner had limited stocks this time. -
Molybdenum
oxide slips below $9.30 on pressure from weak market fundamentals - Molybdenum
oxide prices slipped below $9.30/lb Thursday, as sources reported lower offers
and bids as well a sale concluded in Europe in a quiet market. -
Fed leaves banks hanging as commodity asset deadline passes - The future
of Goldman Sachs' and Morgan Stanley's commodity businesses faces even greater
uncertainty after a key deadline for them to conform their physical trading
to U.S. regulations expired at the weekend without word from the Federal
Reserve. -
Canadian
Companies: Why Is This OSC Decision In The HudBay Case Important For Your
Foreign Operations? - A July 22, 2013 decision by the Ontario Supreme Court
in Choc v. Hudbay Minerals Inc. is an important reminder to Canadian companies
with foreign operations. Here's why. -
Taiwanese
steelmaker YUSCO interested in Italian steel plant - Taiwan's Yieh United
Steel Corp (YUSCO) may join three other bidders for Outokumpu's Italian stainless
steel plant, sources said, in a move that would boost its international presence.
-
Market Trend
of Import of Ferroalloy as of September 13, 2013 =Mo rebounds and Si metal
demands price hike= Market trend of imports of ferroalloy as of September
13, 2013 is as follows. -
UAE And South
Africa firm alliance targets global leadership in Ferrochrome exports - UAE
based businessman, Mr Alibek Issaev, whose group of companies include growing
global software business Dudu Communications, acquired a 50% stake in FerroChrome
Furnaces (Pty) Ltd (FCF), a South Africa based producer of low and medium
carbon ferrochrome for the export market. -
Thousands again protest Xstrata Nickel’s planned mine - Thousands of
people gathered Saturday afternoon at the entrance to the Xstrata Nickel
Falcondo’s mining project at La Vega province, backing up traffic for
miles on the Duarte highway’s southbound lanes. -
Norilsk
Tipped as Possible Uralkali Buyer - Metals giant Norilsk Nickel might buy
a 21.7 percent share in the potash producer Uralkali from its major shareholder
Suleiman Kerimov, who is seeking to resolve a conflict with the Belarussian
government, a news report said Wednesday. -
Low prices
take toll on Cuban nickel revenues - Cuban nickel industry revenues were
well below expectations in the first six months of the year, mainly because
of low international prices, official radio reported this week. -
PNG activist
calls for a ban on dumping mining tailings in the sea - An environmental
activist in Papua New Guinea has called for a total ban on dumping mining
tailings in the sea, calling the practice a “long term death sentence”
for local communities. -
Tati Nickel
Walks for Charity - For the fourth year running Tati Nickel mine will host
its annual Managing Director’s Charity walk next weekend. -
Due
to a medical situation, our next scheduled update will be Monday, September
9th. There will be no update on Friday and we apologize for any inconvenience
this may cause. Have a safe and relaxing weekend.
