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 $8.33/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher but fading, with other London traded base metals trading sideways and off earlier highs. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 150,000 tonne level. Base metals were trading higher this morning but have seen quieted as the European equity market falls on US economic recovery concerns.The Euro continues to trade higher, but for the moment, its boost to metals is waning. Today is the last day of scheduled contract negotiations between Xstrata and Mine Mill. Not finding any updates in the Sudbury media, although every major highway surrounding the town is closed due to a massive snow storm, so it is possible the two sides may announce a weather delay. Nickel’s charge over the last two days is taking a break today and we will have to see if it is running out of gas.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Reaches Three-Month High as Fed Maintains Asset Purchases – more
Reuters metals morning – Copper rises on economy hopes, Chile production dip – more
LME Morning – Base metals prices steady, sentiment upbeat – more
Latest updates from Mine Mill – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.91
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(CS) China’s crude steel output grew 3.1 percent to 716.54 million tonnes in 2012, down 5.8 percentage points from a year earlier, the China Iron and Steel Association(CISA) said Thursday.
(SSY) The world export price of hot rolled band rose by $15/t from two weeks ago to $578/t, the highest level since end-August 2012, according to the latest SteelBenchmarker published by World Steel Dynamics. However, this is still $65/t lower than the year-ago level.
Goldman Sachs – Though we remain bearish on the 3-6 month outlook for nickel from current prices, and prices have rallied by c.10% since November 2012 to $17,500/t, it may be too soon to be establishing short positions in nickel.
Maxim Naumchenko will be in charge of MMC Norilsk Nickel’s strategic development – more
Yesterday’s bounce in relation to last 3 months of trades
Sumitomo Metal, Vale Consider Building Nickel Plant in Indonesia – Sumitomo Metal Mining Co., Japan’s top nickel producer, said it has joined PT Vale Indonesia Tbk (INCO) on a pre-feasibility study for a nickel processing plant in Indonesia. – more
South African ferrochrome output cuts expected to boost prices – Ferrochrome production cuts in South Africa are likely to persist into the second quarter, boosting prices at a time of weak demand, traders said. – more
MSCI: Early Gains Disappear as 2012 Shipments Match 2011 – Service center shipments of steel and aluminum finished 2012 about the same as in 2011. With the exception of a modest increase in aluminum shipments in Canada, the slowdown that characterized the second half wiped out most gains earlier in the year. – more
China Ferroalloy Production By Division – December 2012 = Down 1.4% from November; yearly production of 2012 up 15.0% from 2011 = Production of ferroalloys by division (province, region and municipality) in China in the single month of December 2012 as well as during the calendar year of 2012 are as per the table attached hereto. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $8.10/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.19/lb higher, with all London traded base metals higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now totals just over the 150,050 tonne level. We show nickel closed above minor resistance yesterday, and another close today, which looks highly likely, would mean $8.55/lb could be our next line of resistance. The Euro is trading higher than it did all last year, which is giving base metals a big boost. We are only a few weeks away from the week long Chinese Lunar New year shut down, and China’s return afterwards, will be watched closely by many who believe things could kick into high gear. For every piece of evidence to confirm this theory though, there are indications it could be mostly wishful thinking. We will have to wait and see, but in the mean time, traders will be jockeying for position to profit. The Fed will end a two day meeting later today, and will issue their closely watched statement that could affect traders decisions.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Reuters metals morning – Copper surges to near-month peak, wary of upside – more
LME Morning – Base metals prices rise on return of risk appetite – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.86
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(LGMI) According to the China Iron and Steel Association, China’s inventory of the main finished steel products plate, hot rolled coil, cold rolled coil, rebar and wire rod in major steel markets totaled 14.796 million tonne, up 450,000 tonne compared to the previous week and constituting the sixth consecutive WoW increase.
AK Steel Reports Fourth Quarter and Full-Year 2012 Financial Results – more
Western Areas forges improved nickel sale agreement with Jinchuan – more
(Interfax) Nickel prices started climbing again this week after a flat period since mid-December, with the gains likely to continue in the near-term, fulfilling expectations of a price recovery in the first quarter (Q1) of 2013.
worldsteel launches ‘Steel in your life’ photo competition – more
The real euro crisis is just starting – more
Writedowns Near $50 Billion as M&A Haunts Mine CEOs: Commodities – The world’s biggest mining and steel companies have wiped about $50 billion off project valuations in the past year and the purge is poised to continue this earnings season as managers reassess expensive takeovers. – more
Vale Pledges to Deliver Growth After Losing Title to Rio Tinto – Vale SA pledged to deliver on its growth projects after losing to Rio Tinto Group the title of the world’s second-largest mining company and failing to boost production of the steelmaking ingredient. – more
Norilsk Nickel to join forces with Murmansk region authorities in environmental protection – On this date OJSC MMC Norilsk Nickel (Norilsk Nickel or the Company) has become one of the first signatories to the Murmansk Region Ecology Declaration. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.99/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01lb higher, with other London traded base metals trading sideways to slightly higher as well. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and now totals just over the 149,800 tonne level. The central bank of India lowered its interest rate today and cut its growth and inflation forecasts thru March. Asian markets ended mostly higher, while banks are dragging European equity markets lower. US futures are slightly lower at the moment. Nickel continues to hug the $8/lb threshold, awaiting news from the Xstrata-Mine Mill negotiations for some potential momentum.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
LME Morning – Base metals prices off highs, copper advance checked above $8,100/t – more
Reports
World Steel Production – pdf here
EUROFER Newsletter Issue 18 – January 2013 – pdf here
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.87
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
BHP Billiton December 2012 Quarter Production Summary – more
(SSY) The price of wire rod in China edged $2/t higher from last week to $577/t, according to World Steel Dynamics. As a result the wire rod price averaged $579/t in January, some $11/t above the December 2012 level. This was also the highest monthly average since June 2012.
Universal Stainless Reports Fourth Quarter 2012 Results in Line With Company Guidance – more
ENSO neutral for early 2013 – more
2013 Xstrata Nickel Mine Mill Local 598/CAW Bargaining Updates – more
Xstrata mum on progress of contract negotiations – Xstrata Nickel officials weren’t talking Monday about the progress of contract talks with the union representing 860 of its production and maintenance workers. – more
First Quantum Says Zambia Nickel-Export Levy Threatens Mine – First Quantum Minerals Ltd., Zambia’s biggest copper producer, wants the government to waive a 10 percent levy on nickel-concentrate exports that the company said threatens its newest mine. – more
Sandvik profit, orders lag in face of weak demand – Swedish machinery and tool maker Sandvik posted fourth-quarter earnings below analysts’ expectations on Tuesday and said it had cut production further in the face of sluggish demand. – more
Courtesy AISI – In the week ending January 26, 2013, domestic raw steel production was 1,806,000 net tons while the capability utilization rate was 75.4 percent. Production was 1,918,000 tons in the week ending January 26, 2012, while the capability utilization then was 77.6 percent. The current week production represents a 5.8 percent decrease from the same period in the previous year. Production for the week ending January 26, 2013 is down 1.0 percent from the previous week ending January 19, 2013 when production was 1,824,000 tons and the rate of capability utilization was 76.1percent.
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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.88/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb higher, with most London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses finally fell on Friday and now total just over the 149,400 tonne level. Nickel is getting a slight boost this morning as negotiations in Canada near their Thursday deadline. The sad part of this situation is the industry could actually use a strike to cut off some supply. This puts the mining companies in a better bargaining position, which has not necessarily been the case during the last few contract talks. Xstrata and Mine Mill have a fairly good record of working together so the news we see in the press from now until the negotiations have concluded is basically rooster strutting and means very little. Equity markets are trading sideways but remain stronger for the year as traders start the year with the same optimism they did in 2012. Metals appear to be waiting for the Chinese Lunar New Year to conclude to take long risks.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Advances as Chinese Earnings Add to Revival Indications – more
LME Morning – Base metals prices stuck in sideways pattern, shrug off currency strength – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.87
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(SBB) China’s nickel metal and alloy imports fell by 26.7% to 159,302 mt in 2012, according to data from Chinese customs.
Toledo Mining ships 155,844 wmt from Berong – more
Baosteel Raised Its Domestic Prices Extensively For March Shipment – more
China to pursue RMB internationalization – more
Resources sector works through Qld’s wet weather – more
Xstrata, Mine Mill brace for possible job action – It’s the yin-yang of contract negotiations. As bargaining committee members for Mine Mill Local 598/CAW and Xstrata Nickel met Friday to forge a new collective agreement, preparations were going on — on both sides — should those talks fail. – more
Xstrata may use replacement workers: union – Xstrata Nickel may use replacement workers and house them on its smelter property, Mine Mill/CAW Local 598 says in a letter to the people of Falconbridge. – more
Russia’s Norilsk asks Kremlin to cancel metals export tax – Russia’s Norilsk Nickel has petitioned the Kremlin for a tax break worth around $500 million per year that, if granted, would help the world’s top nickel and palladium miner pay dividends to its oligarch owners. – more
Xstrata’s Outlook Of Ferrochrome Market During The First Half 2013 = Estimated output loss of 350 – 400K tons of charge chrome during the Q1-2013 due to ESKOM’s power buyback = Mr. Jeff McLaughlan, Marketing Director of Xstrata Alloys, Mr. Sean Edwards, General Manager, Marketing of Xstrata Alloys and Mr. Cassian Battistini from Glencore, a sole marketing agent for Xstrata gave an interview to our pressman (Mr. Saito) on the 16th of January at the Imperial Hotel, Tokyo – more
Outokumpu proposes former Nokia leader as chairman – Finnish stainless steel firm Outokumpu proposed appointing Jorma Ollila, the former leader of Nokia, as its new board chairman. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.89/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.03/lb lower. with other London traded base metals trading mixed and mostly sideways. Stockpiles of nickel gained for a sixth consecutive session and rolled over the 150,000 tonne level. They now total just over the 150,200 tonne level. Cancelled warrants grew to the 15% threshold on Wednesday and remained there on Thursday. Metals are floundering on the LME even as the Euro trades near a year high. Hard to say why traders are taking profits, but gains have been hard to come by lately, so traders may be running a little gun shy and taking what they can, while they can. With nickel stockpiles rolling over the psychological important 150,000 tonne level yesterday, nickel is suffering from over supply concerns. Don’t count nickel out yet. We have yet to see traders start betting on China demand rebounding after the Chinese New Year, which takes place in mid-February. Have a safe and relaxing weekend.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Seen Extending Rally With China Accelerating: Commodities – more
Reuters metals morning – Copper near two-week high on China, U.S. factory data – more
LME Morning – Base metals prices bar nickel follow euro higher – more
Reports
US Imports of Stainless Steel Mill Products – more
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.84
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(SBB) China’s import of nickel ore and concentrate totaled 7.51 million metric tons in December, up 71.8% year-on-year and 10% month-on-month
(FAN) Baosteel publishes February 2013 purchase price for HC ferrochrome, which is 7800RMB/T, 50% basis (by cash, with tax and freight), increasing 400 RMB/T, 50% basis over last month.
(SSY) An update to its World Economic Outlook, the International Monetary Fund has trimmed its global GDP growth forecasts for 2013 and 2014 by 0.1 percentage points for each year from the previous projection in October to 3.5% and 4.1% respectively. The IMF has seen a large downside risk to the global outlook in the eurozone, where GDP is now expected to contract by 0.2% this year before growing by 1.0% in 2014.
Anglo American Says Iron-Ore, Platinum Output Falls on Strikes – Anglo American Plc, a mining company with operations from Australia to Brazil, said fourth-quarter iron-ore and platinum output declined because of strikes in South Africa, while coal and copper production rose. – more
IFL to shut one furnace to aid S.Africa’s Eskom – Ferrochrome producer International Ferro Metals said on Thursday it would shut one of its furnaces between Feb. 1 and March 31 to help South African power utility Eskom manage a tight electricity supply. – more
Ramu mine good for 40 years – The US$1.5 billion (K3.13 billion) Ramu nickel and cobalt project is designed to operate for 20 years and has the potential to extend mine life to 40 years. – more
Outokumpu and Outotec enter into a legal dispute over invention rights – Outokumpu Oyj and Outotec Oyj have entered into a legal dispute over invention rights related to a ferrochrome production method. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.96/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb lower, with all London traded base metals trading lower at the moment. Stockpiles of nickel stored in LME approved warehouses rose for the fifth consecutive session and now totals just over the 149,700 tonne level. Nickel continues to trade in a sideways range, seemingly unable to break thru the $8/lb level. World economic news out today has so far been positive, but this momentum has yet to carry into equity or commodity markets. US markets may give metals a direction, but so far, futures for the Dow show little change.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Declines as Codelco Adds to Indications of Ample Supply – more
LME Morning – Copper cuts losses on positive eurozone PMI figures, euro bounce – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.80
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
Trading strategies for gold, natural gas, nickel by experts – more
(FAN) Stainless scrap market players are eyeing potential price declines moving into February as processor buying prices logged mixed results this week.
Eurozone flash Jan Mfg PMI rises to 47.5
(CD) The preliminary HSBC China Manufacturing Purchasing Managers Index rose to 51.9 in January from the final reading of 51.5 in December.
Japan Hot-Rolled SUS Production Recedes – November 2012 = 214,081 tons down 10.8% from October; both Cr-alloyed group and Ni-alloyed group down = According to the data released by Ministry of Economy, Trade and Industry on January 18, details of the output of hot-rolled stainless steel during November 2012 were as per the table attached hereto. – more
Poseidon Nickel: Andrew Forrest and David Singleton forging a “New Nickel Force” in Australia – Andrew Forrest built a “new force in iron ore” with Fortescue Metals, and now with David Singleton (CEO and MD of Poseidon Nickel) has combined to forge a “New Nickel Force” in Australia. – more
Japan’s Metal Smelters See 12 Billion Yen Cost Rise on Power – Base-metal producers in Japan, the world’s third-largest economy, will face a 12 billion yen ($135 million) cost gain if power companies follow a rate increase by Tokyo Electric Power Co. (5411), according to an industry group. – more
Strong currency and low prices pressure BHP – BHP Billiton, the world’s biggest mining company, on Wednesday said the strong Australian dollar and weak prices were hurting its local alumina and nickel operations, spurring speculation of possible write-downs or asset sales. – more
Worker Allegedly Stole $138,000 of Nickel From Kirwan Heights Factory – An Elizabeth man is accused by investigators of stealing more than $138,000 worth of nickel while working at a Kirwan Heights industrial complex. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.88/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb higher, with all London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just over the 149,150 tonnes. Stockpiles are now less than 1000 tonnes from the 150,000 level; a level last seen on April 19th, 2010. Commodities are trading higher on economic optimism and trying to break out of a trading pattern to the upside. We will see how successful they are.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Trades Near One-Week High Before U.S. Debt-Ceiling Vote – more
LME Morning – Base metals lifted on improved sentiment and steadier euro – more
Reports
Oryx Stainless Saving energy is certainly worthwhile – pdf here
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.79
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
Our man of steel – more
(FAN) China’s ferro-chrome import volumes, up 15% on the month in December, are likely to post a further increase in January amid tight domestic availability, market participants said.
(FAN) Aperam, one of the major stainless steel producers in Europe said that it will raise spot base prices for all its stainless steel products by EUR 50 per tonne in Europe.
(SSY) Although declining slightly from November, global steel output in December registered an annual increase of 2.4% to 121.3 Mt, according to the World Steel Association. As a result world steel production in 2012 rose 1.2% on the 2011 total.
(Interfax) Industry bellwether Baosteel announced March prices earlier than usual on Tuesday, raising most flats to reflect an optimistic outlook for end-user demand during the spring peak season and high raw materials prices.
BHP Says Alumina, Nickel Units Pressured, Spurring Sale Talk – BHP Billiton Ltd. (BHP), the world’s biggest mining company, said the high Australian dollar and weak prices are hurting its local alumina and nickel operations, spurring speculation of possible writedowns or asset sales. – more
Tata Steel halts Sukinda mine operation – Tata Steel has halted chromite mine operation at Sukinda as its lease validity expired earlier this month. – more
Potanin Becomes Norilsk General Director As Part of Management Deal – The appointment was part of a settlement of a long-running shareholder dispute over control of the company. – more
UN to mull studies of Xstrata’s Dominican Republic mine – A team of UN experts will assess the feasibility studies of the Loma Miranda mining project in the multinational Xstrata Nickel, whose exploration phase was halted by a Dominican Republic court on a challenge by environmentalists. – more
Western Areas Frustrated By Nickel Price – Nickel miner Western Areas ((WSA)) hit all the right notes with the broking community after its solid December quarter production results and evidence of being well managed. However, the nickel price is out of the company’s control and on that hangs the tale. – more
Into deep space: second U.S. firm takes aim at mining asteroids – A team of entrepreneurs and engineers unveiled plans on Tuesday for a space mining company that would tap nearby asteroids for raw materials to fuel satellites and manufacture components in orbit. – more
Courtesy AISI – In the week ending January 19, 2013, domestic raw steel production was 1,824,000 net tons while the capability utilization rate was 76.1 percent. Production was 1,918,000 tons in the week ending January 19, 2012, while the capability utilization then was 77.6 percent. The current week production represents a 4.9 percent decrease from the same period in the previous year. Production for the week ending January 19, 2013 is up 0.3 percent from the previous week ending January 12, 2013 when production was 1,819,000 tons and the rate of capability utilization was 75.9percent.
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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.88/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with most other London traded base metals trading higher as well.Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just over the 148,125 tonne level. Markets are trading higher this morning after a gauge of German economic sentiment (the ZEW) registered an unexpected jump this month and hit a two year high. US futures are mostly flat as markets re-open after the MLK holiday. The ILO warned deep austerity measures some European countries have been forced to take is slowing the recovery, and the global jobless total will hit a record 202 million this year. Borrowing costs increase for the UK, bringing that country’s Triple A rating in question.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Reuters metals morning – London copper hits highest in more than week on China prospects – more
Bloomberg metals morning – Copper Climbs as Investors Weigh Japan, ZEW Survey: LME Preview – more
LME Morning – Base metals led by currencies, back near session highs after earlier jitters – more
Reports
ThyssenKrupp Nirosta February Stainless Steel Surcharge – more
AK Steel February Stainless Steel Surcharge – pdf here
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.74
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(Interfax) Eastern China’s major construction steel producers have frozen or reduced rebar prices for the remainder of January, indicating a more cautious outlook after spot rebar and iron ore prices entered a corrective dip.
Iron Ore’s ‘Unsustainable’ Rally Seen Ending as Supply Gains – more
Slovakia still in talks with U.S. Steel over mill – more
24K pounds of nickel stolen from N. Ind. business – more
Talvivaara Operational Update – more
Japan’s SUS Scrap Prices Up For January Deliveries = Yen125,000/ton, up from December, stimulated by aggressive buys from Korea without domestic demand recovery = The price in Japan for nickel-alloyed stainless steel scraps (new clippings) rose to Yen125,000/ton, delivered to mills’ yard, from Yen120,000/ton, the latest price quoted by the mills for December deliveries. – more
Murrin Murrin finally overdelivers – Minara Resources boss Peter Johnston says he has finally laid the ghosts of the company’s troubled past to bed, nearly 14 years after the first nickel was produced at its Murrin Murrin mine. – more
Mirabela aims to lift production in 2013 – Troubled miner Mirabela Nickel hopes to increase production to between 22,000 and 24,000 tonnes of nickel in concentrate in 2013. – more
China says top 10 steel mills to control 60 percent of capacity by 2015 – China, the world’s largest steel producer, aims to bring around 60 percent of total steel capacity under the control of its top 10 steel mills by 2015 as part of a wide-ranging plan to restructure its industries. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $8.04/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME approved warehouses rose on Friday and now totals just over 148,000 tonnes. European markets are trading slightly higher, following US markets on Friday that moved higher on news that the Republican led House of Representatives will authorize a 3 month increase in the US debt ceiling. US markets are closed today for Martin Luther King;’s Birthday, and the Presidential inauguration ceremonies will be held today. Commodity markets should remain quiet for the day.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Swings Between Gains and Drops as China’s Imports Slide – more
LME Morning – Copper drifts gently in sluggish metals, US holiday dulls interest – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.72
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
People of Choiseul Province in Solomon Islands oppose Nickel Mine – more
Northern Mining CEO resigns – more
(SSY) Crude steel output in China in December was almost unchanged from the previous month, at 57.7 Mt, according to the National Bureau of Statistics. This marks a gain of 7.7% year-on-year and takes the annual output for 2012 to 716.5 Mt, representing growth of 3.1% on the previous year and hitting a new annual production record.
Top commodity managers tip metals for Q1 on Chinese recovery – Commodity fund managers who performed well over the testing final quarter of 2012 believe metals commodities prices could do better than expected in early 2013 due to a combination of Chinese restocking and continued supply disruption. – more
Tribes petition against nickel mining – Land owning tribes in south-eastern parts of Choiseul have lodged a petition to the ministry of mines and energy opposing the proposed nickel mining operation by Sumitomo mining group. – more
Norilsk Nickel withdraws lawsuit against subsoil watchdog – The Moscow Commercial Court has accepted the withdrawal of Norilsk Nickel’s lawsuit to invalidate the actions of the Federal Agency for Subsoil Use and its commissions granting licenses to develop federal-level deposits, the court told the Russian Legal Information Agency on Monday. – more
Chinese steel production in 2012 up by 3.1% – Bloomberg reported that China, which produces almost half the world’s steel boosted production by 3.1% last year as economic expansion spurred demand for roads and railways. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.96/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb higher, with all London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and now totals just over the 147,800 tonne level. Base metals are following equity markets higher this morning after China reports that while its growth was at a 13 year low, the pace picked up in the fourth quarter, signaling a potential bottom. this followed a very positive housing report yesterday from the US, so optimism is ruling markets as the week ends. Our China Stainless Steel Index continues to slide, but some of this could be caused by buyers holding off until the Chinese New Year break in mid February. Nickel is nearing a weak resistance at $8.05/lb with a stronger line of resistance at $8.55/lb. Have a safe and relaxing weekend.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Advances as Growth Speeds Up in Leading Consumer China – more
LME Morning – Base metals move higher but remain in well-worn ranges, volumes low – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.73
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
China’s Steel Market In 2nd Week Of January Continued To Rise – more
Miners have lost investors’ trust, says BlackRock’s Evy Hambro – more
Chinese economy grows at slowest pace in 13 years, portends challenges – more
China’s GDP growth eases to 7.8% in 2012 – more
Japan Low-Carbon FeCr Prices For Q1-2013 Drop = US$1.93 – 1.97/lb Cr, down from US$2.02 – 2.05/lb Cr in the preceding quarter = more
Nickel Output Exceeded Demand in November, Study Group Says – Refined nickel production increased to 153,100 metric tons in November, exceeding demand of 142,600 tons, the International Nickel Study Group said. – more
Thyssen chairman admits to mistakes but won’t quit – ThyssenKrupp AG Chairman Gerhard Cromme admitted on Friday to making mistakes that contributed to massive losses at the German steelmaker, but didn’t bow to pressure from some shareholders to step down. – more
worldsteel launches ‘The white book of steel’ & ‘The Steel Story’ – The white book of steel is an informative and entertaining look at steel’s enormous impact on the history of mankind, and the role that it is set to play in helping to shape the future of humanity. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.83/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb higher, with most London traded base metals trading slightly higher as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now totals just over the 147,200 tonne level. Base metals are getting a positive boost this morning as the Euro bounces against the US Dollar. Asian markets ended lower, European equity markets are on the upswing, and US futures are slightly higher. Nickel has closed at $7.83/lb for the first three days of this week.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Rises First Time in Five Days on U.S., China Data – more
LME Morning – LME base metals mostly higher, sentiment on hold ahead of Chinese data – more
Reports
SMR Monthly Stainless Steel Briefing – more
U.S. Exports of Stainless Steel Mill Products – more
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.76
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(Interfax) China’s crude steel output could rise as much as three percent this year as a result of growing demand from infrastructure and real estate construction, UBS Securities forecast on January 15.
(MB) Brazilian nickel exports fell 14.6% year-on-year in 2012
(SSY) The latest SteelBenchmarker published by World Steel Dynamics shows gains for hot rolled band steel prices outside the US in early-January. For example, Chinese HRB steel prices rose $20/t from three weeks ago to a 6-month high of $545/t, while EU HRB prices rose $10/t to $638/t over the same period, the highest level since mid-June 2012. As a result, world steel export prices increased by $10/t from end-December to $563/t, but are still down by $66/t from the year-ago level. By contrast, HRB prices in the US slipped by a further $13/t to $689/t.
Rio Tinto turns to iron ore boss to restore fortunes – more
Rio Tinto CEO pays price of calamitous acquisitions – more
Minmetals profits drop in 2012 – more
Transparency urged for Chinese mining companies – more
(MOM) World Bank expects Nickel prices to increase almost 3 percent in 2013, and following a slightly upward trend thereafter. ‘Although there are no physical constraints in these metal markets, there are a number of factors that could push prices even higher over the forecast period, including declining ore grades, environmental issues, and rising energy costs.’ World Bank said in its metals forecast.
(CFI) Both U.S. fastener imports and exports declined in November. Imports of U.S. fasteners in November dropped 11% to $353,681,686, while exports of U.S. fasteners in November dropped 5% to $279,726,102.
Meps: World stainless steel market roundup – Meps International (Ltd) forecasts rising world stainless steel prices in January 2013 on the back of recent increases in raw material costs. – more
Talvivaara Falls as Excess Water ‘Challenging’: Helsinki Mover – Talvivaara Mining Co., a Finnish nickel miner, slid the most in two months in Helsinki trading after it said efforts to resume ore production, halted since September by excess water, were still proving “challenging.” – more
Big newcomers force metal warehousers to adapt or quit – Old-style warehouse firms are coming to accept that big traders and banks, muscling in on storage of metals like aluminium, may have changed it forever into a financial business from a service to manufacturers. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.83/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb lower, with all London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just shy of the 147,350 tonne level. WBMS is reporting today that they show the global nickel market was in a 93,000 tonne surplus for the first eleven months of 2012. The World Bank cuts its forecast for global growth and Asian markets closed lower, and European markets are trading lower as well. Luxembourg Prime Minister Jean-Claude Juncker reportedly warned the Euro was trading ‘dangerously high’, which has put pressure on Euro trading today, and commodities as well.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Declines for Fourth Day Before U.S. Production Figures – more
LME Morning – Base metals slip on eurozone growth worries, Chinese demand concerns – more
Reports
SSINA Releases Market Data for October 2012 – pdf here
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.79
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(TR) Turkey’s exports of chrome ore during the full year of 2012 were 2,133,882 tons, down 1.7% from 2,171,673 tons exported during 2011.
(TN) The German economy, Europe’s biggest, shrank by about 0.5% in the fourth quarter of last year, leaving full-year growth at just 0.7%, official data showed yesterday.
Consumers Reports Index: Middle-Income Americans Remain Cautious Spenders, While Facing Lackluster Employment Outlook – more
(CD) Foreign direct investment in China in 2012 declined 3.7 percent year-on-year to $111.72 billion, the Ministry of Commerce said.
Nickel pig iron output to rise 25% as costs decline – China’s nickel pig iron output in 2013 may rise 25 percent more than previously forecast as costs decline, curbing nickel imports, Japan’s top producer of the metal said. – more
Norilsk Names Evgeny Yakovlev as First Deputy General Director – Russia’s Norilsk Nickel, the world’s largest producer of nickel and palladium, said Tuesday that former executive Evgeny Yakovlev has been named the company’s new first deputy general director. – more
Zimbabwe: BNC Resumes Milling Operations – Bindura Nickel Corporation will restart milling operations early next month, paving the way for concentrate exports, chief operating officer Mr Batirai Manhando has said. – more
Choiseul landowners snub mining – Land owners in the proposed nickel mining areas in the southeastern part of Choiseul have lodged a petition letter to the National Government’s Ministry of Mines and Energy for the Sumitomo mining group not to proceed with any mining operations. – more
Talvivaara eyes H1 production suspension, worker lay-offs – Talvivaara said it may temporarily lay-off up to 230 workers for up to three months after a gypsum pond leakage caused a production disruption that may last until end-June 2013. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.83/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded based trade metals mostly lower. Stockpiles of nickel stored in LME approved warehouses showed no change on Monday and totals remain just over the 147,050 tonne level. Commerzbank is reporting that ‘Sumitomo Metal Mining Co., Japan’s largest nickel producer, expects the supply surplus on the global nickel market to climb to 58 thousand tons this year, its highest level for five years.’
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Falls to 2-Week Low After Rio’s Beats Forecasts – more
LME Morning – Base metals bar tin slip to fresh lows as dollar strengthens – more
Reports
Steel Founders’ Society Of America Casteel reporter – pdf here
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.85
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
EU steel demand crashes in 2012 but small gain forecast for 2013 – more
(Kotak) According to the latest monthly bulletin from Lisbon-based International Nickel Study Group (INSG), the global nickel market was in surplus by 55,600 tons in the first ten months of 2012.
Red Kite’s Jansen Favors Tin as ‘Super-Cycle’ Continues – more
Power consumption slows, rebound expected – more
Tropical Pacific ENSO neutral – more
HKEx to launch Asian trading on London Metal Exchange – Hong Kong Exchanges and Clearing said on Tuesday it will introduce Asian time-zone price discovery and clearing on the London Metal Exchange (LME), in a move that could hold off competition from its Shanghai rival. – more
China Ferroalloy Production By Division – November 2012 = Up 4.5% from October; output in Hunan, Guangxi, Guizhou and Ningxia all increased = Ferroalloy production details by division (province, region and municipality) in China in the single month of November 2012 as well as during the first eleven months (January through November) of 2012 were as per the table attached hereto. – more
Zambia: 2,000 FQM Jobs in Offing in Solwezi – More than 2,000 Zambians are expected to be employed at the First Quantum Minerals (FQM)’s Sentinel Mine in Solwezi in North-Western Province when it is fully operational. – more
Courtesy AISI – In the week ending January 12, 2013, domestic raw steel production was 1,819,000 net tons while the capability utilization rate was 75.9 percent. Production was 1,918,000 tons in the week ending January 12 , 2012, while the capability utilization then was 77.6 percent. The current week production represents a 5.2 percent decrease from the same period in the previous year. Production for the week ending January 12, 2013 is up 3.6 percent from the previous week ending January 5, 2012 when production was 1,756,000 tons and the rate of capability utilization was 72.6 percent.
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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 14
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 $7.97/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading quietly higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Friday and now total just shy of the 144,250 tonne level. China markets surged overnight after it was reported their stock market will be opened to foreigners. European markets and US stock futures are quiet with little market news to give either direction.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Climbs on Stimulus Signal, China Equities Jump – more
LME Morning – Base metals firm but trading quiet ahead of Fed meeting – more
Reports
US Imports of Stainless Steel Mill Products – more
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.91
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(Dow Jones) Russia exported 2.5 times as much copper in the first eight months of the year as during the same period last year, responding to the surge in global demand. Nickel exports also soared.
(Interfax) The China Association of Automotive Manufacturers (CAAM) expects growth in China’s vehicles sales to speed up in 2013, which will give much-needed support to the upstream steel sector.
(Dow Jones) U.S. nickel imports fell 4.6% in November from last month, and was down 14.1% from the previous year, the Commerce Department reported Friday.
(Dow Jones) U.S. nickel exports rose 7.3% in November from the previous month, and was up 11.4% from the previous year, the Commerce Department reported Friday.
First Quantum Mine to create more than 2,000 mining jobs – more
NRF: Imports Rising as Strike Looms – more
Shrewd forecasters win in a volatile commodities world – more
Russian fastener standards harmonized with ISO – more
Tata Steel KZN shuts furnaces to aid S.Africa’s Eskom: sources – Tata Steel KZN, a subsidiary of the Indian steel maker, has shut two ferrochrome furnaces in South Africa for two months to help power utility Eskom manage a tight electricity supply, industry sources said on Friday. – more
Zimbabwe: Govt to Lift Ban On Chrome Ore Exports – The Zimbabwean government is expected to lift the ban on chrome ore exports in April, exactly a year after it was reinstated following protracted negotiations with industry stakeholders, the Zimbabwe Independent can reveal. – more
First Quantum plans $275 mln investment in Zambia nickel mine – Canadian mining firm First Quantum Minerals plans to invest $275 million in a new nickel mine in Zambia, a company official said on Saturday. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.89/lb . Indicators at 7:00 am CST today show 3 month nickel trading unchanged , with other London traded base metals trading mixed and sideways. Stockpiles of nickel stored in LME approved warehouses fell slightly on Thursday, and now total just shy of the 144,250 tonnes. Commodities are seeing little movement this morning after worrying inflationary data was released from China. Our observation that we may have seen the bottom in China stainless steel prices was incorrect, as our daily index is now at its lowest level since we started our index in May 2009. Nickel trading remains subdued and stockpiles continue their upward trend.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Reuters metals morning –
LME Morning – Base metals trade sideways, Chinese data unnerves – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.95
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
China spot copper buys seen delayed until after lunar holiday – more
China’s Dec inflation rises 2.5% – more
Copper, tin likely beneficiaries in 2013 from improved demand: Macquarie – Copper and tin are likely to be the biggest near-term beneficiaries of improved apparent demand through the first half of 2013, with supply availability still limited, Macquarie said in a research note Friday. – more
Industries Want Nickel Exports to Begin – The Indonesian Nickel Association (ANI) has asked the government to start export activities for 14 main mining minerals, including nickel. – more
The debate about the true invention of stainless steel will rage forever but ISSF has a nice video about the first 100 years of stainless steel.
and the Science Channel has a video on how stainless steel is made
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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.96/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with all London traded base metals trading higher. Stockpiles of nickel rose on Wednesday and now total just shy of the 144,350 tonne level. China reported its exports surged in December which is giving world markets a boost this morning, including commodities. The European debt crisis has taken a back seat to the US’ problems lately, but central bank meetings on that continent today will be watched closely. Nickel is higher for a second day but continues to hover around the $8/lb range. Some analysts believe we will likely see little movement until possibly after the Chinese New Year holiday in mid February.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Reuters metals morning – Copper rises on dollar fall, China export data – more
LME Morning – Base metals boosted, risk-on mood returns to market – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 91.01
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(MF) Nippon Steel & Sumikin Stainless (NSSC), the largest stainless steel producer in Japan announced to raise its list prices for austenitic cold rolled coils (CRC) by 25,000/ton for January contracts.
(CEN) China remained the world’s largest energy producer for a fifth year in 2012, China’s energy authority said Wednesday. The National Energy Administration (NEA) said in a statement on its website that the country’s total installed power generation capacity reached 1.14 billion kilowatts (kw) by the end of 2012. Installed hydropower capacity stood at 249 million kw, the world’s greatest. The country’s wind power also led the world with an installed capacity of 63 million kw by the end of last year, the statement said.
China copper imports down in Dec, up 14.1 pct in 2012 – more
Nickel miner ships record volume in 2012 – The Philippines’ largest nickel miner shipped 11.7 million wet metric tons (WMT) of nickel ore in 2012, the company disclosed to the Philippine Stock Exchange. – more
Russia’s stainless steel exports in November 2012 – According to an estimate by SpetsStal Association, the volume of Russian stainless steel exports in November 2012, compared to the previous month, increased 0.9% to 880 tons. – more
Aperam fire to benefit other EU stainless steel makers – A fire affecting output at a French Aperam stainless steel plant will benefit Outokumpu and other European producers and will put upward pressure on European prices in the next few months, market players said this week. – more
Palmer rejects green groups’ claims – Mining magnate Clive Palmer has rejected claims that tailing ponds at his north Queensland nickel refinery will burst during the upcoming wet season. – more
NL: Applications flood in to Vale for long-term jobs – There are an estimated 500 long-term jobs for the operation of the Long Harbour plant and about 350 people are expected to be hired by the end of the year. – more
Australian cyclone shuts Rio Tinto ports, crude output – Australia’s first cyclone of the storm season is intensifying off the country’s northwest, shutting key iron ore export terminals and crude production at offshore oilfields in mining powerhouse Western Australia state. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.86/lb . Indicators at 7:00 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 stored in LME approved warehouses fell slightly on Tuesday and now total just over the 143,400 tonne level. Commodity markets and equity markets are getting a boost from Alcoa’s positive earnings report last evening. Increasing inventories should keep price increases in check.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Reuters metals morning –
LME Morning – Base metals inch higher in thin trading conditions – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 91.06
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(GFN) Asian Mineral Resources Ltd. (AMR), a Canada based company engaged in the exploration and development of mineral property interests, has secured approval from Ministry of Industry and Trade of the Socialist Republic of Vietnam, to export minerals and mineral products from Vietnam. Under the circular issued by Vietnamese Ministry, AMR s subsidiary Ban Phuc Nickel Mines LLC can export 9.5% nickel concentrate, without time limit. Before this approval, BPNM had a licence to export nickel concentrate till 31 December 2015. The new Circular replaces the previous export licence.
(FAN) According to statistics, the stocks of stainless steel products totaled 188,489 tons in the Chinese Wuxi market in the last 10 days of December, falling by 1.86% from the previous 10 days.
Nickel contract trading volumes on the London Metal Exchange increased by 38.6% in 2012.
Iron Ore Seen Set for Bear Market as Restocking Rally Fades – more
Iron ore may reach $170/dmt China ‘over next quarter’: Deutsche Bank – more
(China) More than half of firms see profits drop in 2012 – more
Odisha chrome ore prices fall 12% in auction – But stainless steel makers unlikely to pass on the advantage, citing rising cost of production – more
China Nickel Imports/Exports – November 2012 = Unwrought nickel exports up/imports down; ore/concentrates imports hit the highest monthly record = According to China’s Customs Statistics, imports and exports of nickel-bearing materials including ore/concentrates during November 2012 as well as during the first eleven months of 2012 were as per the attached table hereto (all the figures in the table are the weight of the material). – more
Japan’s Outlook Of Crude Steel Demand For Next Qtr. To Be 26,070,000 Tons = It will increase by 0.2% from the previous quarter – The Ministry of Economy, Trade and Industry of Japan released on 27th the forecast of demand for steel in the 4th quarter (January – March) of fiscal 2012. – more
Anglo American Hires Cutifani as CEO After Losing $14 Billion – Anglo American Plc appointed Mark Cutifani as chief executive officer as the mining company seeks to reverse the $14 billion loss of market value it suffered in the five years his predecessor Cynthia Carroll was in charge. – more
Palmer Qld refinery at tipping point: WWF – Conservationists are concerned tailing ponds at a north Queensland nickel refinery owned by mining magnate Clive Palmer will burst during the upcoming wet season. – more
Courtesy AISI – In the week ending January 5, 2013, domestic raw steel production was 1,756,000 net tons while the capability utilization rate was 72.6 percent. Production was 1,902,000 tons in the week ending January 5, 2012, while the capability utilization then was 76.9 percent. The current week production represents a 7.7 percent decrease from the same period in the previous year. Production for the week ending January 5, 2013 is down 3.9 percent from the previous week ending December 29, 2012 when production was 1,827,000 tons and the rate of capability utilization was 73.9 percent.
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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.80/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME approved warehouses rose sharply and now totals just shy of the 143,500 tonne level. Bloomberg has nickel’s relative strength index at 49 today. LME warehouses have registered increases for 3 of the 4 operating days this year. Commodity markets are looking for direction today and the Euro/US Dollar exchange is not giving any signals. Our China SS Index has risen for a second session and we may have bounced off another low point. So far, China’s reaction to the 20% duty that India has slapped on stainless steel imports from that country has been muted.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Reuters metals morning – Cocoa, coffee rally; oil, metals little changed – more
LME Morning – Base metals tread water, softer equities weigh – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 91.03
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(CD) The Indonesian government has decided to extend export licenses ore. Additional time will be between three months and one year, depending on the types of contracts and minerals concerned.
(CD) The Colombian government and Cerro Matoso SA signed a new contract for the operation of the nickel mine Cerro Matoso. The operator is 100% owned by BHP Billiton of Australia. The mine is located near Cordoba in northern Colombia.
Copper, Crude Oil Vulnerable as Optimism Dissipates – more
Iron-Ore Swaps Reach 14-Month High as China Seen Restocking – more
Aussie mining magnate accused of dividing indigenous communities – more
China’s Metal Fastener Output for Jan.-Nov. – more
January Report: Small-Business Owner Confidence Edges Up, Barely One of the lowest optimism readings in survey history – more
Import duty won’t impact pricing much: Jindal Stainless – The government has imposed 20 per cent safeguard duty on imports of a certain variety of stainless steel from China to protect domestic players. – more
LME volumes up 9% in 2012, primary aluminium turnover edges lower – Traded volumes of futures and options on the London Metal Exchange rose 9% in 2012 as a 10.6% rise in futures turnover offset a 19.1% drop in options. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $7.86/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel rose on Friday and now total just shy of the 142,250 tonne level. The more politicians spoke on Sunday morning television talk shows, the more it became apparent the recent tax deal in Washington was probably the high water mark in political party cooperation. Lines were drawn in the sand and nervousness crept back into world markets. Markets have been limited in their ability to find a direction over many months now due to this uncertainty. And this looks to continue. Nickel inventories have risen by 3% in the last 30 days, and cancelled warrants remain below the 10% level.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Falls as Report May Show Weaker German Factory Orders – more
LME Morning – Base metals subdued on softer euro, US economic fears – more
Reports
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 91.00
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
Bulls Add to Wagers for First Time Since November: Commodities – more
Hedge funds’ commodity bets see little change in value over year – more
India Imposes 20% Import Tax on Chinese Hot-Rolled Flat Steel – more
China Cr Ore Imports Sharply Drop – November 2012 = Down 4.8% from October to 651,309 tons = According to China’s customs statistics, details of the imports of chrome ore in November 2012 as well as during the eleven months (January – November) of 2012 were as per the table attached hereto. – more
Prices Of CR Austenitic Stainless Sheets To Be Fixed At $2,700 CFR In Asia – Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian region seem mainly to be the level of $2,700 CFR. Korea’s POSCO, Taiwan’s YUSCO and so on had proceeded with negotiations before at $2,600 CFR for December shipment but such price level disappeared at present, and negotiations at the higher price level than that by $100 have been made. – more
“Misunderstood” Nickel Could Rally in 2013 – With the price of nickel down around 7 percent and year-end stocks in LME warehouses at their highest levels since May, investors in the base metal were hard-pressed to find good news in 2012. – more
Minmetals may diversify into nickel: report – Minmetals Resources chief Andrew Michelmore says that after spending last year focusing on the integration of Congo copper player Anvil, the miner is now in the position to consider another major $1 billion-plus base metals purchase, according to a report by The Australian. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 4
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 $7.94/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel fell slightly on Thursday and now total just under the 141,675 level. We get the jobs report for Dec 2012 in the US today and that is expected to give the market some direction. Base metals fell sharply late yesterday after notes from the last US Federal Reserve meeting showed a disagreement over future bond buying efforts. The notes also revealed that the Fed is running out of bullets to keep boosting the US economy. This news helped boost the US Dollar, and hurt commodity trading. Many Asian markets that have yet to re-open from the holiday season, will reopen Monday so we should see market news pick up.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Reuters metals morning –
LME Morning – Metals easier after New Year risk appetite rally stumbles, eyes on US jobs data – more
Reports
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.99
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
(FAN) According to statistics released by the customs, China’s exports of stainless steel flat products totaled 156,839 tonnes in November, rising by 31% YoY and increasing by 33% MoM In November,
One Missing, Another Dead After Cyclone Hits New Caledonia – more
Are you a base metal growth bull or a gold gloom-and-doomer? – more
Production slump for First Nickel – First Nickel Inc. said Thursday production from the Lockerby Mine in Sudbury, Ont., is expected to fall short of earlier expectations. – more
Kent Stainless Win Manufacturing Exporter of the Year and Exporter of the Year 2012 – Members of the Kent team were over the moon last night as MD, Ann O’Brien gratefully picked up 2 of these prestigious awards. – more
Experts forecast strong Q1 for steelmakers – High prices and strong demands are expected to contribute to a strong first quarter for Taiwan’s steel industry, experts said yesterday. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 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 $8.03/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with all London traded base metals trading lower this morning. Stockpiles of nickel stored in LME approved warehouses rose sharply on Wednesday and now total just shy of the 141,700 tonne level. Yesterday’s euphoric relief rally is taking a break today, as traders look to a new U.S. Congress facing the same old problems. As the most unproductive Congress in history, we say good riddance to the last one. Metals news remains light.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg metals morning – Copper Advances on Prospects for an Economic Rebound in China – more
Reuters metals morning – Copper near 2-1/2 month high on U.S. deal, China data – more
LME Morning – Return of risk-on sentiment lifts most base metals, many at multi-week highs – more
Reports
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.99
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
Scrap Metals Market Watch – more
ENSO-neutral conditions persist in the tropical Pacific – more
China’s Steel Sector Pain is Construction industry’s Gain – MEPS – 2012 has been a difficult year for the Chinese steel industry. Oversupply has plagued the sector – resulting in significantly lower selling prices as the year progressed. – more
Courtesy AISI – In the week ending December 29, 2012, domestic raw steel production was 1,827,000 net tons while the capability utilization rate was 73.9 percent. Production was 1,863,000 tons in the week ending December 29, 2011, while the capability utilization then was 75.2 percent. The current week production represents a 1.9 percent decrease from the same period in the previous year. Production for the week ending December 29, 2012 is down 0.7 percent from the previous week ending December 22, 2012 when production was 1,840,000 tons and the rate of capability utilization was 74.5 percent.
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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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, January 2
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 $7.97/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.21/lb higher with all other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Monday and begin the year at 141,690 tonnes. That is a net gain of 51,174 tonnes for 2012. Markets are trading higher today, on news that the US government passed another stop gap measure in the 11th hour, to keep the US from slipping over the fiscal cliff. In reality all that was accomplished was the lower taxes from 2012 were extended for most tax payers, while none of the actual fiscal problems were addressed. These battles have been put off for a few months, with further market uncertainty – now a certainty. Nickel closed 2012 at $7.97/lb and ended the prior year at $8.49/lb. Nickel is up today as part of today’s larger commodity bullish run, and has punched thru minor resistance of $8.06/lb.
Baltic Dry Index – (current) (chart)
Dollar trading graph – (chart of dollar index)(live java chart)
Bloomberg morning – Industrial Metals Rise in London Following U.S. Budget Accord – more
LME Morning – Base metals boosted by positive newsflow, lead and tin at multi-month highs – more
Reports
US Imports of Stainless Steel Mill Products – more
Reuters Metals Insider – pdf here
Commodities Daily – here
Commonwealth Daily Alert – pdf here
Oakvale Daily Market Report – more
KBC Commodity Report – here
Angel Metals Fundamental Report – here
Weekly Market Report – pdf here
DNB Metals Weekly – pdf here
Mico Metals Weekly – pdf here
Hedge Equities Commodity Report – pdf here
MacNicol Morning Notes – pdf here
Alpari Global Markets Daily – pdf here
Mangal Commodities Metals & Energy – pdf here
Danske Weekly Focus – pdf here
Commodity/Economic Comments
China E-Stainless Steel Daily Price Index – 90.99
China Stainless Steel Scrap Market News / Price – more
Yieh Daily Asian Stainless Steel News – more
304 Stainless Sabot Daily Scrap Pries – more
European Debt Crisis Live – more
Iron ore scores biggest monthly rise and up 5 pct on year – more
China official factory PMI points to steady growth revival – more
The Year That Shaped Our World – more
Taiyuan Iron and Steel plans 52% increase in exports – Taiyuan Iron and Steel Group Co Ltd, the world’s largest stainless steel producer by output, plans to increase its product exports by about 52 percent to 500,000 metric tons next year. – more
Base Metals Surge as Congressional Deal Boosts Demand Outlook – Copper and nickel led a rally in base metals after the House of Representatives approved a bill to avert tax gains for most U.S. workers, boosting the outlook for demand. Lead gained to the highest level in more than 15 months in London and zinc climbed to the most expensive since October. – more
Western Areas tips nickel sector M&A – Western Areas managing director Dan Lougher says the Glencore-Xstrata merger could be the catalyst for a wave of acquisition activity in the WA nickel sector this year, with the new global giant primed to gobble up a number of local assets. – more
Zimbabwe: Zimalloys Eager to Reopen Mines – Ferrochrome producer Zimbabwe Alloys Limited says it expects to secure investors soon for operations at its two mines in Mutorashanga to resume and create employment for residents living in the compounds. – 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)
India MCX Nickel Price – more more
100 Years of Stainless Steel Video – online here
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
December Archives
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“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)
Reports
Commodity/Economic Comments
Yesterday’s bounce in relation to last 3 months of trades
Sumitomo Metal, Vale Consider Building Nickel Plant in Indonesia – Sumitomo Metal Mining Co., Japan’s top nickel producer, said it has joined PT Vale Indonesia Tbk (INCO) on a pre-feasibility study for a nickel processing plant in Indonesia. – more
South African ferrochrome output cuts expected to boost prices – Ferrochrome production cuts in South Africa are likely to persist into the second quarter, boosting prices at a time of weak demand, traders said. – more
MSCI: Early Gains Disappear as 2012 Shipments Match 2011 – Service center shipments of steel and aluminum finished 2012 about the same as in 2011. With the exception of a modest increase in aluminum shipments in Canada, the slowdown that characterized the second half wiped out most gains earlier in the year. – more
China Ferroalloy Production By Division – December 2012 = Down 1.4% from November; yearly production of 2012 up 15.0% from 2011 = Production of ferroalloys by division (province, region and municipality) in China in the single month of December 2012 as well as during the calendar year of 2012 are as per the table attached hereto. – more
Morning Nickel Inventory and Price Statistics & Figures
Vale Pledges to Deliver Growth After Losing Title to Rio Tinto – Vale SA pledged to deliver on its growth projects after losing to Rio Tinto Group the title of the world’s second-largest mining company and failing to boost production of the steelmaking ingredient. – more
Norilsk Nickel to join forces with Murmansk region authorities in environmental protection – On this date OJSC MMC Norilsk Nickel (Norilsk Nickel or the Company) has become one of the first signatories to the Murmansk Region Ecology Declaration. – more
Xstrata mum on progress of contract negotiations – Xstrata Nickel officials weren’t talking Monday about the progress of contract talks with the union representing 860 of its production and maintenance workers. – more
First Quantum Says Zambia Nickel-Export Levy Threatens Mine – First Quantum Minerals Ltd., Zambia’s biggest copper producer, wants the government to waive a 10 percent levy on nickel-concentrate exports that the company said threatens its newest mine. – more
Sandvik profit, orders lag in face of weak demand – Swedish machinery and tool maker Sandvik posted fourth-quarter earnings below analysts’ expectations on Tuesday and said it had cut production further in the face of sluggish demand. – more
Russia’s Norilsk asks Kremlin to cancel metals export tax – Russia’s Norilsk Nickel has petitioned the Kremlin for a tax break worth around $500 million per year that, if granted, would help the world’s top nickel and palladium miner pay dividends to its oligarch owners. – more
Outokumpu proposes former Nokia leader as chairman – Finnish stainless steel firm Outokumpu proposed appointing Jorma Ollila, the former leader of Nokia, as its new board chairman. – more
Ramu mine good for 40 years – The US$1.5 billion (K3.13 billion) Ramu nickel and cobalt project is designed to operate for 20 years and has the potential to extend mine life to 40 years. – more
Japan Hot-Rolled SUS Production Recedes – November 2012 = 214,081 tons down 10.8% from October; both Cr-alloyed group and Ni-alloyed group down = According to the data released by Ministry of Economy, Trade and Industry on January 18, details of the output of hot-rolled stainless steel during November 2012 were as per the table attached hereto. – more
Poseidon Nickel: Andrew Forrest and David Singleton forging a “New Nickel Force” in Australia – Andrew Forrest built a “new force in iron ore” with Fortescue Metals, and now with David Singleton (CEO and MD of Poseidon Nickel) has combined to forge a “New Nickel Force” in Australia. – more
Tata Steel halts Sukinda mine operation – Tata Steel has halted chromite mine operation at Sukinda as its lease validity expired earlier this month. – more
UN to mull studies of Xstrata’s Dominican Republic mine – A team of UN experts will assess the feasibility studies of the Loma Miranda mining project in the multinational Xstrata Nickel, whose exploration phase was halted by a Dominican Republic court on a challenge by environmentalists. – more
Top commodity managers tip metals for Q1 on Chinese recovery – Commodity fund managers who performed well over the testing final quarter of 2012 believe metals commodities prices could do better than expected in early 2013 due to a combination of Chinese restocking and continued supply disruption. – more
Tribes petition against nickel mining – Land owning tribes in south-eastern parts of Choiseul have lodged a petition to the ministry of mines and energy opposing the proposed nickel mining operation by Sumitomo mining group. – more
Nickel Output Exceeded Demand in November, Study Group Says – Refined nickel production increased to 153,100 metric tons in November, exceeding demand of 142,600 tons, the International Nickel Study Group said. – more
Thyssen chairman admits to mistakes but won’t quit – ThyssenKrupp AG Chairman Gerhard Cromme admitted on Friday to making mistakes that contributed to massive losses at the German steelmaker, but didn’t bow to pressure from some shareholders to step down. – more
worldsteel launches ‘The white book of steel’ & ‘The Steel Story’ – The white book of steel is an informative and entertaining look at steel’s enormous impact on the history of mankind, and the role that it is set to play in helping to shape the future of humanity. – more
Zimbabwe: BNC Resumes Milling Operations – Bindura Nickel Corporation will restart milling operations early next month, paving the way for concentrate exports, chief operating officer Mr Batirai Manhando has said. – more
Nickel miner ships record volume in 2012 – The Philippines’ largest nickel miner shipped 11.7 million wet metric tons (WMT) of nickel ore in 2012, the company disclosed to the Philippine Stock Exchange. – more
Aperam fire to benefit other EU stainless steel makers – A fire affecting output at a French Aperam stainless steel plant will benefit Outokumpu and other European producers and will put upward pressure on European prices in the next few months, market players said this week. – more
