Nickel Market Prices – Stainless Steel Market Pricing

Friday, November 30

• Dow Jones reports three month nickel closed Thursday’s trading session at $7.71/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. Nickel stockpiles held in LME licensed warehouses rose slightly on Thursday and now total just over the 136,350 tonne level. Three month nickel was unable to close above resistance yesterday of $7.77/lb, but is making another run today. European markets are higher this morning and US futures are higher on, as Marketwatch puts it, “as investors looked to consumer- spending data and the Chicago purchasing managers index due later for at least a temporary respite from the debt-negotiation roller-coaster.” The Euro is higher, although off earlier session highs. Next week begins the last month of the year, and the last third of the fourth quarter. Enjoy your weekend!
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper hits 5-week high on euro, growth optimism – more
• LME Morning – Base metals build on rebound, buying interest and fiscal cliff hopes lift mood – 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 – 91.13
• 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
• International Ferro expects first-half loss on lower 2nd-qtr output – more
• S&P lowers stainless steel maker Aperam rtg to ‘B+’;outlook negative – more

   Nickel’s bounce to be hit by heavy 2013 surplus – Nickel prices may see a short-term lift over the next several months due to a seasonal rise in demand for stainless steel, but next year’s outlook is burdened by another market surplus. – more

   Hernic enters new Eskom buy-back programme – Ferrochrome producer Hernic would temporarily shut down two furnaces at its De Kroon operations on December 1, as it entered a new power buy-back programme with State-owned Eskom. – more

   China Cr Ore Imports Sharply Drop – October 2012 = Down 28% from September to 685,048 tons = According to China’s customs statistics, details of the imports of chrome ore in October 2012 as well as during the ten months (January – October) of 2012 were as per the table attached hereto. – more

   Japan steel mills begin trial use of Vietnam high-carbon ferrochrome – At least two steelmakers in Japan have begun to use high-carbon ferrochrome of Vietnamese origin on a trial basis at their mills, following the first shipment to Japan in March, Yoshitaka Murobushi of Advanced Material Japan said Monday. – 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, November 29

• Dow Jones reports three month nickel closed Wednesday’s trading session at $7.70/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.15/lb higher, punching thru a line of resistant. Other base metals traded in London are higher as well this morning. Stockpiles fell slightly on Wednesday and now totals just over the 136,350 tonne level. Global markets are trading higher today on optimism that fiscal cliff talks in Washington are making progress. The Euro is trading higher as well, which is giving an additional boost to commodity trading. We show nickel has broken thru a major line of resistance today at $7.77/lb and if it holds today and tomorrow, we could see nickel trend into the $8/lb range next month.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• LME Morning – Base metals gather momentum on US fiscal cliff hopes – 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 – 91.13
• 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 Ferroalloy Production By Division – October 2012 = Total production up 4.6% from September owing to the increases in Hunan, Ningxia, Shanxi and Shandong = Production of ferroalloys by division (province, region and municipality) in China in the single month of October 2012 as well as during the first ten months (January through October) of 2012 are as per the table attached hereto. – more

   Lawsuit against mining firm brings Guatemalans to Toronto – Five Guatemalans are in Toronto to sue a Canadian mining firm over allegations the security staff of one of its subsidiaries brought violence and death to their village. – more

    Talvivaara production under scrutiny after mine restart stalls – Nickel miner Talvivaara yesterday postponed the restart of mining in Sotkamo, Eastern Finland by half a year to mid-2013, raising concern over its future metals production. – more

   Deep underground, Dinosaurs Roam – (interesting article about Norilsk but difficult to read) – link goes to an online edition – here

   Stainless Steel and high temperatures – 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, November 28

• Dow Jones reports three month nickel closed Tuesday’s trading session at $7.69/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb , while the rest of London traded base meals are slightly lower this morning. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just shy of the 136,400 tonne level. European markets are lower on concerns US Congress is making little progress on budget talks, US futures are also lower. Nickel technicals still appear to point higher, and unless the talks in Washington turn into a huge debacle and drag markets much lower, we see technical strength regardless of fundamental pressure.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – LME copper slips as US fiscal cliff worries resurface – more
• LME Morning – Metals drift as euro sags, lack of follow-through to rally – 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 – 91.15
• 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 ferroalloynet, Baosteel posts its December HC ferrochrome purchase price, which is 7100 RMB/T, 50% basis, up 100 RMB/T over last month.

    Talvivaara postpones production re-start until summer – The mining company Talvivaara will postpone the re-start of production at its mine until mid-2013, citing the leak in the gypsum sediment pond and difficult water conditions as the main reasons. – more

   Steel, Aluminum Shipments Stop Free Fall in October – The slowdown in steel and aluminum shipments through the late summer eased in October in both the United States and Canada, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. – more

   Canadian Royalties aims to start shipments from Nunavik Nickel in 2013 – A Chinese-owned mine in Nunavik will soon see huge ice-class vessels sailing through Hudson Strait to bring nickel, copper, platinum and palladium to European markets. – more

   ThyssenKrupp to lose billions in steel plant sales – German heavy engineering giant ThyssenKrupp has been bracing for multi-billion-euro (dollar) losses over the planned sale of its steel plants in the Americas. Construction defects will cost the firm dearly. – more

   MEPS World Steel Price Steady Ahead Of Anticipated New Year Revival – US domestic transaction values are firming as major producers announce more price hikes of $US50 per short ton as scrap charges escalate. – more

   China Ferroalloy Production By Division – October 2012 – Total production up 4.6% from September owing to the increases in Hunan, Ningxia, Shanxi and Shandong = Production of ferroalloys by division (province, region and municipality) in China in the single month of October 2012 as well as during the first ten months (January through October) 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

Tuesday, November 27

• Dow Jones reports three month nickel closed Monday’s trading session at $7.46/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.13/lb higher, with all London traded base metals also trading higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Monday and now total just under the 134,450 tonnes level. European markets, as well as base metals, are higher this morning as the Eurozone and IMF agree to a another Greek loan, which should keep Greece from defaulting (for now) and in the Euro (for now). Nickel continues to trend higher, and with resistance at $7.77/lb, we show it has room to roam.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper up slightly to 3-week high on Greek deal – more
• Bloomberg morning – Europe Stocks Rise With Metals on Greece Aid Deal – more
• LME Morning – Metals ride wave of Greek debt deal enthusiasm to multi-week highs – more

  Reports

• AK Steel Stainless December 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 – 91.19
• 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) BNP Paribas  Tuesday cut it outlook on base metal prices for next year, but reiterated its view that demand for the metals should grow in 2013 as the global economic outlook brightens. ….. It also lowered its 2013 nickel outlook by 2.0% to $18,000/ton….
• (MF) According to statistics released by the Chinese customs, China exported 118,103 tons of stainless hot rolled (HR) and cold rolled (HR) flat products in October, falling by 12.6% from a month ago while rising by 18.1% year on year.
• (IF) Despite end-demand showing no signs of recovery, China’s steel product inventories fell to a three-year low last Friday as banks tightened lending to traders and cold weather in the north saw stockpiles sent to the south.
• (SSY) The price of Chinese wire rod at the end of last week edged lower by $3/t from the previous week to $571/t, according to World Steel Dynamics. This took the monthly average for November to $570/t, some $118/t lower than the year-ago level.
• Tata Port Talbot: ‘This is devastating, everyone will be hit’ – more
• China’s 10 nonferrous metal output up 7.7% in Jan-Oct  – more
• French minister threatens to expel Arcelor Mittal – more
• Size matters when reducing nickel oxide nanoparticles – more
• China October industrial profits jump 20.5 percent, signal rebound – more
• (CD) Chinese stocks continued to fall Tuesday, with the benchmark Shanghai Composite Index dipping 1.3 percent, or 26.3 points, to end at 1,991.16, the lowest level since February 2009.

   Nickel Market Seen Moving Into Balance in 2013 by Wood Mackenzie – The nickel market may be in balance next year as demand strengthens amid potential delays in adding supply, according to Andrew Mitchell, an analyst at researcher Wood Mackenzie Ltd. – more

   European stainless steel surcharges down for December – European stainless steel surcharges for December are lower, producers announced at the end of last week, as the price for nickel, the main driver for some of the alloy surcharges continued to trade in a weaker range over much of November. – more

    Indonesia’s nickel ore exports recover from govt curbs – Indonesia’s nickel ore exports recovered in October, as biggest buyer China stocked up ahead of winter and more miners resumed production after meeting tough government rules that battered shipments this year from the world’s top exporter of the metal. – more

   Japan Ferrochrome Demand/Supply For 9 Months of 2012 = High-carbon consumption down reflecting SUS production cut = Demand and supply of ferrochrome in Japan during the first nine months (January – September) of 2012 were as per the table attached hereto. – more

   Deripaska and Potanin make peace at Norilsk (U/R) under government shadow: positive – Vladimir Potanin and Oleg Deripaska held a joint press conference last Tuesday, at which Potanin said that the long-standing shareholder conflict at Norilsk Nickel between Interros (Potanin) and RusAl (Deripaska) is now over. The parties have apparently agreed on all matters of importance regarding management of the company, and say that they are committed to “restoring value” to Norilsk Nickel. – more

   Courtesy AISI – In the week ending November 24, 2012, domestic raw steel production was 1,764,000 net tons while the capability utilization rate was 71.4 percent. Production was 1,809,000 tons in the week ending November 24, 2011, while the capability utilization then was 73.0 percent. The current week production represents a 2.5 percent decrease from the same period in the previous year. Production for the week ending November 24, 2012 is down 1.6 percent from the previous week ending November 17, 2012 when production was 1,792,000 tons and the rate of capability utilization was 72.5 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

Monday, November 26

• Dow Jones reports three month nickel closed Friday’s trading session at $7.53/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mostly higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Friday and now total just shy of the 134,650 tonne level. European markets are down as EU nations struggle with the terms of another Greek bailout. US futures are lower as well as ‘fiscal cliff’ negotiations resume in Washington.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper steady after two weeks of gains; Greece supports – more
• LME Morning – Metals drift routinely, sideways pattern in place – more

  Reports

• ThyssenKrupp Nirosta December Stainless Steel Surcharge – more
• Metals Despatch November 2012 – pdf here
• World Steel Production – 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
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.20
• 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) The global nickel market had a surplus of 89,000 metric tons in January to September, the World Bureau of Metal Statistics said Wednesday. This compares with a 3,100 ton deficit over the whole of 2011.
• (Dow Jones) Xstrata: Koniambo Nickel To Ramp Up To 60,000 Tons Nickel/Year by 2014
• (CBN) China’s imports of laterite nickel to hit 61.9 mln tons in 2012
• Intl investors rush to ride China rebound – more
• Italian prosecutors arrest 7 over ILVA steel plant scandal – more

   Nickel Glut Recedes as Biggest Metals Loser Rallies: Commodities – Nickel, this year’s worst-performing metal, is rallying as analysts from Standard Bank Plc to BNP Paribas SA forecast a smaller-than-expected supply glut in 2013. – more

   China Molybdenum Trade Volume Quickly Shrinking = Imports/exports of January – September 2012 have both shrunk 35 – 36% compared to the same period of 2011 = September) of 2012 became import surplus after two calendar quarters of export surplus. – more

• China’s Oct moly ores, concentrate imports plunge 73.6% to 377 mt – China’s October imports of molybdenum ores and concentrates plunged 73.6% on year to 377 mt, the latest figures from the General Administration of Customs of China showed Friday. – more

   PNG Ramu Nickel, Cobalt Mine Ships Product to China – Highlands Pacific states that the first loading of 576 tons of nickel and cobalt mixed hydroxide intermediate product has been completed in Basamuk smelting plant and shipped to China. The intermediate product includes 217 tons of nickel and 19 tons of cobalt. – more

• Ramu Nico thanks landowners? – The Director and Executive Vice President of Ramu NiCo Management (MCC) Ltd, Mr Gu Yuxiang expressed his Company’s gratitude to the landowner associations (LOAs) in the four impacted project areas in Madang province for the on-going support in the last five years. – more

   Xstrata: Koniambo Nickel Project First Production Line Completed – Xstrata PLC, the Anglo-Swiss mining company that’s in the process of merging with Swiss commodities broker Glencore International PLC, said Friday Xstrata Nickel–the industrial partner in the Koniambo Nickel Project–has completed construction of the first production line of the smelter Line 1. – more

   Zim brushes off pressure from chrome producers – Windhoek – Zimbabwe Government has refused to cave in to pressure from mining companies to temporarily lift or relax a ban on chrome ore exports, which companies say is worsening their plight. – more

   Norilsk Nickel Holders Make Progress in Four-Year Dispute – The two main shareholders in Russian mining giant Norilsk Nickel are making progress in resolving their four-year-long conflict over the control and management of the company which could see its chief executive’s departure and billionaire businessman Roman Abramovich becoming a minority shareholder, people familiar with the matter said Monday. – 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, November 21

• Dow Jones reports three month nickel closed Tuesday’s trading session at $7.53/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals also trading lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just under the 133,600 tonne level. US markets are closed tomorrow for Thanksgiving and our next update will be on the following Monday. Happy Thanksgiving!
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – more
• LME Morning – Base metals track euro lower, derisking seen ahead of Thanksgiving – 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
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.29
• 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) According to the Specialty Steel Industry of North America (SSINA), the US’s imports of stainless steel sheets and strips totaled 320,160 short tons in the first eight months of this year, increasing by 11.9% year on year.
• (Reuters) China refined nickel stocks seen up at 200,000 T by year-end – Antaike
• Drought No Obstacle to Record Income for U.S. Farms – more

   Nickel misunderstood, consumer restocking rally likely: – The global nickel market is basically misunderstood with consumer restocking likely to lift prices in the first quarter of 2013, Citigroup said in its 2013 commodities outlook Monday. – more

   Talvivaara Mining to restart production at nickel mine – Finnish miner Talvivaara Mining has received a permit to restart the metals recovery plant at its Sotkamo nickel mine and expects full production to resume by November 25th. Production had been temporarily suspended since November 4th following a gypsum pond leak at the mine. – more

   Xstrata’s merger with Glencore claims chair Sir John Bond’s scalp – Mining’s biggest ever deal, the tie-up of Glencore and Xstrata, got the greenlight from investors – but Sir John Bond, Xstrata’s chairman, resigned after they vetoed bonuses. – more

• Glasenberg Wins Xstrata as Bond Exits Over Blocked Bonuses – more
• EU regulators clear way for Glencore Xstrata tie-up – more

  Japan Ferroalloy Market Report – November 15, 2012 = Market is waiting for China’s decision-making about export duty on ferroalloys = Market situation of ferroalloys in Japan as of November 15 is as follows. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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, November 20

• Dow Jones reports three month nickel closed Monday’s trading session at $7.47/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals mostly lower as well. Stockpiles of nickel stored in LME warehouses rose sharply on Monday and now total just over the 133,900 tonne level. Markets are mostly off yesterday’s bullish run, as a Moody’s downgrade of France and an inability on the part of EU leaders to agree to a new loan for Greece, remind traders that yesterday’s optimistic belief that Washington leaders can agree to way to avoiding the ‘fiscal cliff’, there is a lot yet that can go wrong in many places. Nickel had a big day yesterday, and resistance of $7.62/lb could be tested in the next few weeks.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper falls as euro zone growth fears return – more
• LME Morning – Metals consolidate mini-advance, further gains anticipated – more

  Reports

• SMR GmbH Monthly Stainless Steel Briefing – 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
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.34
• 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) U.S. stainless steel imports jumped 30.8 percent in August compared with the same month last year, while total consumption rose just 7 percent, according to the Specialty Steel Industry of North America
• China faces challenges in maintaining growth – more
• Pacific Ocean likely to remain ENSO neutral – more

   Nickel misunderstood, consumer restocking rally likely: Citigroup – The global nickel market is basically misunderstood with consumer restocking likely to lift prices in the first quarter of 2013, Citigroup said in its 2013 commodities outlook Monday. – more

   Norilsk stops Tati nickel operations after fault at some point smelter – The earth’s biggest nickel the manufacturer, Russia’s Norilsk Pennie, will halt it is Tati mine and many concentrator in Botswana to use as 12 days, after a furnace breakdown at once smelter that processes the majority of the concentrate from the area mine. – more

   China Crude SUS Production 11.407 Million Tons – 9 Months 2012 = Up 9.4% from the same period of 2011 = According to Stainless Steel Council of China Special Steel Enterprises Association, crude stainless steel production during the first nine months (January – September) of 2012 was 11.4070 million tons, up 9.4% from the same period of 2011 ….. more

   Xstrata Investors Seen Backing Glencore Takeover – Trading in Xstrata Plc shows that investors, who vote today on 2012’s biggest takeover, have almost never been more confident that Glencore International Plc’s 19.5 billion-pound ($31 billion) bid will win approval. – more

• Glencore eyes finish line in marathon Xstrata deal – Shareholders in commodities trader Glencore have overwhelmingly approved its long-awaited $31 billion takeover of miner Xstrata , paving the way for one of the largest tie-ups in the sector to date. – more

   Takamul mulls ferrochrome smelter project in Oman – Takamul Investment Company, the downstream investment subsidiary of Oman Oil Company, is actively weighing the feasibility of establishing a ferrochrome smelter project in the Sultanate. – more

   Philippines’ Nickel Asia says Taganito project cost to rise 22 pct – The cost of building the Philippines’ second nickel processing plant, due to be completed next year, will rise 22 percent to $1.59 billion, swelled by higher material prices and changes in specifications, the country’s biggest nickel miner said on Tuesday. – more

   Courtesy AISI – In the week ending November 17, 2012, domestic raw steel production was 1,792,000 net tons while the capability utilization rate was 72.5 percent. Production was 1,809,000 tons in the week ending November 17, 2011, while the capability utilization then was 73.0 percent. The current week production represents a 0.9 percent decrease from the same period in the previous year. Production for the week ending November 17, 2012 is up 2.6 percent from the previous week ending November 10, 2012 when production was 1,746,000 tons and the rate of capability utilization was 70.7 percent.

   Proven Strength in Stainless – The overhead netting of Perth Zoo’s Australian Wetlands and Penguin Plunge Exhibit was badly damaged when severe hailstorm and winds of up to 128km/h swept through Perth in March 2010. – 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, November 19

• Dow Jones reports three month nickel closed Friday’s trading session at $7.24/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb higher, with other London traded base metals mostly higher and quiet. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just under the 132,650 tonne level. European markets are trading higher this morning, with US futures shadowing, as reports come out of Washington that debt talks amongst US Congress members is going well. US markets are beginning a shortened week, closed on Thursday for Thanksgiving, and trading only 1/2 day on Friday.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper up 1 pct on hopes for U.S. fiscal fix – more
• LME Morning – Metals higher on mood pick-up, consolidate gains – 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
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.40
• 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
• (SN) The American Iron and Steel Institute (AISI) reported today that for the month of September 2012, U.S. steel mills shipped 7,233,375 tons, a 13.7% decrease from the 8,377,162 tons shipped in the previous month.
• Hedge Funds Cut Bets in Longest Retreat Since 2008: Commodities – more

   Palmer slams “bullsh*t” rumours – Mining magnate Clive Palmer says rumours claiming he might have to close his Yabulu refinery over the Queensland wet season are “bullsh*t”. – more

   Japan Hot-Rolled SUS Production Continues Down – September 2012 = 236,996 tons down 0.9% from July; Cr-alloyed group up, and Ni-alloyed group down = According to the data released by Ministry of Economy, Trade and Industry on November 13, details of output of hot-rolled stainless steel during September 2012 were as per the table attached hereto. – more

   Stainless Steel and Nickel – 100 Years of Working Together – Stainless steel is everywhere in our world and contributes to all aspects of our lives. We find stainless steel in our homes, in our buildings and offices, in the vehicles we travel in and in every imaginable industrial sector. Yet the first patents for stainless steel were issued only 100 years ago. – more

   How A Nickel Mining Venture Brought An Invasive Flower to Oregon  – A new invasive species has taken root in Oregon. Yellow tuft alyssum threatens dozens of rare native wildflowers. – more

   Hammered ore prices threaten Chinese iron miners – “To be or not to be” — that is the pressing question for Chinese iron ore producers teetering on thin profit margins that have been squeezed by lower-priced imported ores and sluggish steel demand at home. – more

   Nickel Metal Mining Like its 1864  – Nickel is present in over 3000 different alloys that are used in over 300,000 products for consumer, industrial, military, transport/aerospace, marine and architectural applications. – more

   Norilsk Nickel’s ice-breaking ships reach the Russian ports others can’t – Norilsk Nickel’s fleet carries copper and nickel but it’s also a vital link to the outside world for an isolated Siberian mining community. – 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, November 16

• Dow Jones reports three month nickel closed Thursday’s trading session at $7.21/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and now total just shy of the 132,900 tonne level. Markets continue to remain sour with the so-called fiscal cliff overshadowing the European debt crisis. Nickel is on track to end the week flat, which in light of equity markets falling for much of the week, makes it look like it is hiding some strength. We see initial support at $7.18/lb, with resistance at $7.76/lb. The average price of cash nickel thru yesterday is running around $7.25/lb, down from October’s average of $7.82/lb. US markets will be shortened next week by the Thanksgiving holiday on Thursday, while metals will trade all week in London.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• LME Morning – Metals softer as early consolidation fades, head towards range floors – 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
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.45
• 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
• (SSY) German crude steel production in October rose for a second consecutive month, up 4% on September and fractionally above the year-ago level to 3.7 Mt, according to the country’s steel association. October’s figure marked the highest monthly level since June and the first year-on-year increase since September 2011. However, total output in January to October of 36.1 Mt was still 4% lower than the corresponding period in 2011.
• Steelworkers union marks 75th anniversary – more

   Outlook Of Chromium Metal Market By Delachaux/France = Solid demand with a possibility of short supply = Mr. Yoran Guenegou, Sales and Marketing Engineer of Delachaux in France, visiting Japan had an interview with our pressman (Mr. Saito) on the 6th of November in Tokyo. – more

   LME sale on track, keeps metal storage under scrutiny – The London Metal Exchange (LME) expects proposed changes to its warehousing rules to go some way to solve problems in the network of warehouses it monitors, but would continue reviewing the situation, chief executive Martin Abbott said on Friday. – more

   Dominican Republic: Protests of Nickel & Gold Plans – On Nov. 11 Congressman Adriano Sánchez Roa, of the Dominican Republic’s ruling PLD Party, rejected the award of a license to Canadian mining firm Unigold, claiming it would threaten environmentally protected areas, particularly the Manolo Tavárez Justo National Park. – more

   Glencore $31 Billion Deal for Xstrata Looking Completed: Energy – Glencore International Plc’s $31 billion bid for control of Xstrata Plc (XTA) has never looked so certain after the sovereign wealth fund of Qatar threw its support behind the biggest takeover of the year. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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, November 15

• Dow Jones reports three month nickel closed Wednesday’s trading session at $7.33/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now totals just over the 133,450 tonne level. The Euro-zone GDP fell at at 0.1% quarterly rate in the third quarter, according to Eurostat today. Germany and France economies grew during the same period. China was introduced to their new President, Mr. Xi Jinping. Wal-Mart reported sales just shy of expectations. Weekly jobless claims and reports on the consumer price index and the Empire State Mfg will be released in the US today. The US Dow is trading at a four month low and traders are looking for a bottom. European equity markets are mostly lower, while the Euro is currently trading higher.  
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – more
• LME Morning – Base metals stuck in neutral as eurozone backs into recession – 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
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.47
• 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) The China Iron and Steel Association said that almost half of China’s large and mid sized steel mills reported losses during the first nine months of 2012. Combined losses amounted to CNY 26.73 billion, marking a 41.5 fold increase in losses year on year. Last year’s losses were CNY 644 million.
• (SSY) The world hot rolled band export price was up marginally by $8/t from end-October to $542/t, according to the latest SteelBenchmarker from World Steel Dynamics. However, the current price is only $10/t above the year-to-date low seen a month ago and remains $114/t below the year-to-date high in mid-March.
• (CBN) China – Steel prices look set to decline as demand in China tapers off during the winter low season, spelling an end to two months of increases that brought a brief respite for the beleaguered industry.
• Steel industry sees Q4 upturn: CISA – more
• US Fastener Exports & Imports Drop in September – more

   Best Metals Forecaster Smirk Sees China Recovering: Commodities – Industrial metals will rally through the middle of next year as the economy strengthens in China, the biggest user of everything from aluminum to zinc, according to the most accurate price forecaster tracked by Bloomberg. – more

   Western World Molybdenum Production Review (January – September 2012) = Under control at major mines responding to low prices = Production of molybdenum concentrates during the Q3 (July -September) of 2012 by major miners was 66.92 million pounds reflecting the downward trend since the beginning of 2012, following 69.28 million pounds during the Q1 (January – March) of 2012 and 67.58 million pounds during the Q2 (April – June) of 2012. – more

   Talvivaara Brings Back Pera as CEO Amid Output Decline, Leak – Talvivaara Mining Co., the Finnish nickel miner struggling to meet production targets and stem environmental contamination, brought back its founder as chief executive officer until operations are “stabilized.” – more

   Effective with shipments January 1, 2013 NAS is increasing prices on all Cold Roll Flat Products in 200, 300, and 430 grades. – more

Source – Standard Bank Commodities Daily 11/13/12

  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, November 14

• Dow Jones reports three month nickel closed Tuesday’s trading session at $7.28/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb higher, with most London traded base metals trading quietly higher as well. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and now total just over 133,600 tonnes. Base metals are trending higher with the assistance of a higher trading Euro as Greece default concerns ease while the area is rocked by huge anti-austerity strikes today in Spain, Portugal , Greece and Italy. Equity markets are trading lower in Europe, while US futures are slightly higher. Venezuela has taken control of Anglo’s Loma de Niquel Mine, after its permit expired. Venezuela, under Hugo Chavez, has seized many foreign operated operations in that nation over the years, and we expect with their track record, future production from this mine will eventually fall.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper flat, supported by upturn in China – more
• Bloomberg morning – Copper Advances for Third Day as Governments May Boost Economies – more
• LME Morning – Metals range at steadier levels, aluminium sets two-month high – 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
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.51
• 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
• (SSY) According to China’s National Bureaus of Statistics, October saw a gain in the country’s crude steel production, up by 2% from the 7-month low in September to 59.1 Mt. This also marked an increase of 8% year-on-year.
• Talvivaara Investors Face Dilution in Bond Payment Bid – more
• First Nickel Reports Third Quarter 2012 Financial and Operating Results – more
• Liberty Mines Reports Financial Results for Third Quarter 2012 – more
• China steel prices still face headwinds -industry body – more
• Why Copper Is a Critical Metal: Mickey Fulp – more

   Japan’s SUS Mills Cut Ni-Alloyed Scrap November Prices = Down more than Yen5,000/ton from October reflecting LME nickel price drop = SUS mills’ purchasing price for nickel-alloyed stainless steel scraps (new clippings) for November deliveries is to drop more than Yen5,000/ton from the price for October to Yen120,000 – 125,000/ton delivered. – more

   Talvivaara says mine stopped leaking waste water – Talvivaara said its nickel mine in eastern Finland had stopped leaking waste water, sending its shares sharply higher on hopes it has gained control over an environmental fiasco. – more

   Baosteel raises December ex-factory prices on growing demand – Baoshan Iron and Steel Co Ltd (Baosteel), China’s largest listed steelmaker, has raised ex-factory prices of its main products for December delivery, the first price rise since March. – more

   Deripaska tightens grip on RUSAL as Onexim CEO leaves – Russian tycoon Oleg Deripaska appears to have tightened his grip on aluminium giant RUSAL after seeing off the chief executive of rival shareholder Onexim, who has left the board. – 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, November 13

• Dow Jones reports three month nickel closed Monday’s trading session at $7.23/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with most London traded base metals trading lower as well. Stockpiles of nickel rose sharply on Monday and now total just over 133,100 tonnes. Markets are lower this morning as Greece debt concerns continue – and the US so called ‘fiscal cliff ‘approaches. Nickel is down as the Euro lags and stockpiles grow. China reports steel production in that country returned to August levels last month, but steel stockpiles in that country appear to be growing as well. We have added numerous reports to the site today, and you are welcome to check them out. Typically we have to review them monthly as many reports either go subscription, or are discontinued.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning –  Copper falls as Greece fears bolster dollar – more
• LME Morning – Base metals soggy, eurozone sentiment worsens – 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
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.54
• 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
• (CF) Taiwan’s fastener exports declined 3.2% year on year to 1,045.1 million kilogram for the first ninth months. The export value also saw a decrease of 3.67% to 2.9 billion US dollars year on year.
• China’s Steel Market Prices Rebounded And Recovered To August Level – more
• Iron-Ore Rebound Boosts STX With Record Chinese Imports: Freight – more
• FIB Small Business Economic Trends, November 2012 – more
• Economic slowdown bites China’s employment – more

   Madagascar ships its first refined nickel – Madagascar shipped its first refined nickel last week, a statement from the company explorer of cobalt and nickel in the country said on Monday. – more

   Turkish Chrome Ore Exports Decline Continue – October 2012 = 103,541 tons, down 7%; exports to China recovered = Turkey’s exports of chrome ore during October 2012 as well as the ten-month period (January – October) of 2012 are as per the attached table hereto. – more

   UMMC will locate a nickel plant in the Sverdlovsk region – Ural Mining and Metallurgical Company is weighing the idea of building a nickel plant in the Middle Urals. A company that would be able to produce 50 thousand tons of nickel a year could be located in Kirovgrad, near a branch of Uralelectromed, OJSC (a subsidiary of UMMC) that produces base metals. – more

   Talvivaara says taxpayers won’t pay for clean-up – Crisis-hit Talvivaara Mining Company says taxpayers will not have to shoulder the clean-up cost at its nickel mine in eastern Finland. – more

Courtesy Global Markets Briefing

   Courtesy AISI – In the week ending November 10, 2012, domestic raw steel production was 1,746,000 net tons while the capability utilization rate was 70.7 percent. Production was 1,809,000 tons in the week ending November 10, 2011, while the capability utilization then was 73.0 percent. The current week production represents a 3.5 percent decrease from the same period in the previous year. Production for the week ending November 10, 2012 is up 1.7 percent from the previous week ending November 3, 2012 when production was 1,707,000 tons and the rate of capability utilization was 69.1 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, November 12

• Dow Jones reports three month nickel closed Friday’s trading session at $7.23/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with aa London traded base metals trading higher this morning. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just under 129,800 tonnes. Greece passed an annual budget with deep austerity cuts over the weekend, which was a condition of getting more aid. Creditors are now meeting on how best to give that aid. China hands over power to a new leader tomorrow. And US government offices are closed today for Veteran’s Day. Metal trading is quiet and following the Euro.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper up from 2-mth lows, growth worries cap gains – more
• LME Morning – Base metals consolidate as pessimism dominates sentiment – more

  Reports

• U.S. Exports of Stainless Steel Mill Products – more
• Desjardin’s Commodity trends – A tough autumn – 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  
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.58
• 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) European ferrochrome prices have fallen to their lowest levels in nearly three years amid low demand, high inventories and growth in Chinese production.
• (PR) Universal Stainless & Alloy Products, Inc. announced today that its Dunkirk Specialty Steel, LLC subsidiary has reached a new five-year collective bargaining agreement with the Dunkirk hourly employees represented by Local 2693 of the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, AFL-CIO.
• U.S. nickel imports fell 10.9% in September from August, and was down 10.1% YOY, according to a Thursday report by the Commerce Department.
• U.S. nickel exports fell 28.4% in September from August, and was down 24.2% YOY, according to a Thursday report by the Commerce Department.
• Russian Federal Customs reports exports of nickel from Jan thru Sept of 2012 are up 46.1% YOY.
• Bulls Cut Wagers as Prices Rally Most in Two Months: Commodities – more
• EU approves deal to create largest steel maker – more

   Press Release – AK Steel said today that it will increase base prices for all 200, 300 and 400 series flat rolled stainless steel products, effective with shipments on December 30, 2012. AK Steel said this increase will be achieved through a reduction in the functional discount of four percentage points for cold rolled and hot rolled products. Base prices of automotive exhaust grades will increase by $0.04 per pound. All raw material surcharges for stainless steel products, including those for materials under .015 inch thickness, will remain in effect. Surcharges for the broad range of stainless steel products that AK Steel produces can be found under the Products and Markets section of the company’s web site at www.aksteel.com.

   Talvivaara nickel mine not ready to restart after leak – Finnish miner Talvivaara is not in a position to restart production at its nickel mine in eastern Finland, which has been leaking waste water for more than a week, local government authorities said on Monday. – more

   Venezuela to Take Over Anglo American Nickel Concession – Venezuela will take control of a nickel concession operated by Anglo American Plc (AAL) when it expires tomorrow, said an official from the Oil and Mines Ministry. – more

    Court Voids Norilsk Nickel Buyback – A regional court in Siberia has ruled in favor of aluminum giant RusAl, which was seeking to void the buyback of a 7.7 percent stake in Norilsk Nickel that took place last year. – more

   Poseidon gets conditional nod for Mt Windarra – Poseidon Nickel has received conditional State Government approval to recommence mining at the historic Mt Windarra nickel mine near Laverton. – 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, November 9

• Dow Jones reports three month nickel closed Thursday’s trading session at $7.33/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals all trading lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and now total just under 130,250 tonnes. Worldwide markets are lower as attention intensifies on the so called upcoming US fiscal cliff. Markets are either nervous that Congress will continue on its path of inability to accomplish anything besides defining party lines, or are sending Congress a message that market investors can just as easily turn on the US as they did on Europe. Nickel is caught up in today’s negativity and continues to trade up and down at the whim of financial forces, wth little supply/demand market news to give it any momentum of its own.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper dips as U.S. fiscal worries trump China data – more
• LME Morning – Copper leads metals lower, sloppy sentiment weighs – more

  Reports

• US Imports of Stainless Steel Mill Products – more
• 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  
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.63
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• 304 Stainless Sabot Daily Scrap Pries – more
• Norilsk share cancellation still on, slight delay – more
• European Debt Crisis Live – more
• Lonmin rejects Xstrata proposals to take control – more
• China economy shows positive signs – more
• U.S. weather forecaster drops El Niño watch – more

   Talvivaara waste water leak plugged? – On Thursday morning, the CEO of the Talvivaara mining company said a leak at its gypsum pond had been blocked. However by late morning Helsingin Sanomat reported that there was renewed leakage. – more

   Indonesia to Maintain Metal Export Policy Amid Court Ruling – Indonesia, the world’s largest nickel producer, will maintain a policy that tightens exports of mineral ores amid a ruling by the Supreme Court that annulled some articles on the ministerial decree. – more

   Indonesia may relax smelter deadline for miners -industry – Indonesia may allow copper, zinc and lead miners more time to comply with a 2014 deadline to process ores in the country, the top industry body said on Friday, as the government faces legal challenges to its new mining regulations. – more

   Japan Nickel Metal Consumption January – August 2012 = 28,561 tons, down 6.8% from the same period of 2011 = According to the data recently released by Ministry of Economy, Trade and Industry, consumption of nickel metal in the single month of August and during the eight months (January – August) of 2012 were as per the table attached hereto. – more

   Economic & Steel Market Outlook 2012-2013 – Uncertainty grips EU as risks mount and policy action is delayed – 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, November 8

• Dow Jones reports three month nickel closed Wednesday’s trading session at $7.26/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.04/lb higher, with all London traded base metals trading higher as well. Stockpiles of nickel rose on Wednesday and now total just over 130, 750 tonnes. The Euro is trading at a two month low but metals seem to be reacting to Greece’s affirmative austerity vote, and an expected rebound from Wall Street’s biggest one day drop of the year. Economic reports continue to affirm that most of the world economy is in a slow, gradual recovery, with Europe still suffering and the potential so called US fiscal cliff fears the biggest threat to the markets.   
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper falls as U.S. fiscal concerns, demand uncertainty weigh – more
• LME Morning – Base metals struggle, economic uncertainty weighs – 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  
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.68
• 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 daily output of China’s major steel companies in late October dropped 5.39 percent, or 86,600 metric tons, compared with the previous 10 days to 1.51 million tons, said a report issued on Wednesday by the China Iron and Steel Association.
• (FIN) Nippon Steel & Sumikin Stainless, the largest stainless steel producer in Japan announced to leave its domestic prices for stainless cold rolled coils (CRC) and plates unchanged for November.
• Japan’s Steel Export In Sept. Showed 3,566,000 Tons, Down 3.1% From Aug. – more

    Indonesia’s metal export policy in limbo – Indonesia is not sure if its own rules on mining exports still apply, after a court ruling upheld an industry challenge to its policy, the country’s trade minister said on Wednesday. – more

• Indonesia’s Metal Export Policy in Limbo – Indonesia is not sure if its own rules on mining exports still apply, after a court ruling upheld an industry challenge to its policy, the country’s trade minister said on Wednesday. – more

    PNG’s Ramu NiCo mine: An environmental time bomb? – Papua New Guinea is home to some of the biggest gold, silver and nickel reserves in the world, and for decades has been the centre of attention for international mining giants. – more

    Finland’s Talvivaara keeps Q3 loss lower than expected – Finnish miner Talvivaara reported a smaller than expected third-quarter operating loss despite disruptions at its mine in eastern Finland. – more

    Norilsk May Cancel 10% of Stock in March With Month Delay – OAO GMK Norilsk Nickel, the world’s largest producer of the metal, will proceed with a plan to cancel as much as 10 percent of its stock and may complete the move in March, said Marianna Zakharova, a board member. – more

   Billionaire Vekselberg Sees Resumed Norilsk Talks as Positive – United Co. Rusal shareholder Oleg Deripaska resumption of talks with Vladimir Potanin on managing OAO GMK Norilsk Nickel is positive for Russia’s biggest mining company, according to billionaire investor Viktor Vekselberg. – 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, November 7

• Dow Jones reports three month nickel closed Tuesday’s trading session at $7.29/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with all London traded base metals trading slightly higher this morning. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total 130,500 tonnes. The US elections are over and markets are higher, with some of the uncertainty that markets fear so much, now gone. Attention now shifts to China where a once in a decade political change takes place tomorrow. Greece has an important austerity vote at midnight tonight. Nickel has lost some of the momentum it had yesterday, and is looking for a direction. The Euro is starting to fall, which could take base metals prices with it.  
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper rises on Obama win, but more losses seen – more
• LME Morning – Base metals up on Obama victory, focus turns to Greece – 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  
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.71
• 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
• Vale’s former boss Agnelli eyes Guinea potential again – more
• Chinese private investors eye overseas mining – more
• Both Pacific and Indian oceans neutral – more

    Protectionist barriers have no place – In the current “fragile” economic environment, most processors of non-ferrous metals are complaining of “a lack of material to process” while many consumers “are feeling pain at the prices they need to pay for our scrap to feed their furnaces”, – more

    China base metal buys will hardly dent ample supply -trade – China’s plan to buy base metals for state reserves in an effort to cushion domestic smelters from slowing economic growth would support prices but would not significantly reduce bulging stockpiles, traders and analysts said on Wednesday. – more

    MEPS Forecasts EU Stainless Steel Prices To Rise In Early 2013 – MEPS – EU Average Stainless Steel transaction values, for all austenitic grades, increased in October. Some EU mills were able to implement advances in basis numbers. – more

    Outokumpu wins EU okay for Inoxum buy, with condition – Finnish steel producer Outokumpu Oyj won EU regulatory approval on Wednesday to acquire German peer ThyssenKrupp AG’s stainless steel business in a 2.7 billion euro ($3.46 billion) deal after agreeing to sell an Italian facility. – more

    LME Nickel October Averages Almost Unchanged From September = Basically in a downward trend within the month as if correcting the upward move in September = LME nickel prices averaged over October 2012 were, Spot: US$17,245.43/ton (US$7.822/lb), up 0.2% from September, 3 months: US$17,305.00/ton (US$7.849/lb) up 0.1% from September. The prices were in mostly a downtrend throughout the month, contrary to the upward move during September. – more

    Mwana Africa restarts work at Zimbabwe mine – Mwana Africa has moved to restart production at Zimbabwe’s formerly lucrative Trojan Nickel Mine following the raising of $23m through a rights issue and share placement scheme. – 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, November 6

• Dow Jones reports three month nickel closed Monday’s trading session at $7.21/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.07/lb higher, with all London traded base metals trading higher at the moment. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just shy of 130,550 tonnes. Greece is on a nationwide strike ito protest an upcoming austerity vote. US voters go to the polls today to decide who will govern for the next two to four years. And China prepares for its first leadership change in ten years. European equity markets are higher, with base metal markets in tow. Nickel is getting strong support at $7.20lb.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper off 2-month low, cautious ahead of U.S. vote – more
• Bloomberg – Copper Rises for First Day in Three as Base Metals Climb – more
• LME Morning – Metals modestly higher, in wait-and-see mode ahead of US vote outcome – more

  Reports

• Commodity Connections – 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  
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.74
• 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
• (MF) According to the data from Stainless Steel Council of China Special Steel Enterprises Association, China produced 11.41 million tons of crude stainless steel from January to September this year, rising about 9.4% or 981,100 tons from the same period last year.
• Talvivaara Mining Company Plc Press Release – Leakage detected at the gypsum pond – metals production temporarily suspended – A leakage in the gypsum pond of the mine site of Talvivaara Mining Company Plc was detected at 7.30 am (Finnish time) on Sunday 4 November 2012. The levees of the pond are intact, but water is filtering through the lower part of the levee on the east side of the pond.
• Chinese steel industry scenario to worsen in Q4 2012 – MIIT – more
• Metal mining industry faces reshuffle – more
• Rare earth companies ‘halt production’ – more

    BIR Stainless Steel & Special Alloys Committee: Stainless production to fall short of projections? – It is “very doubtful”, he told the Round-Table gathering in Barcelona, that production will rise the projected 4% to 33.3m tonnes; indeed, he added, there is a strong possibility the total will fail to match that of last year owing to third and fourth quarters which have been “much weaker than anticipated”. – more

• Stainless production to fall short of projections? – Heading up his final meeting as Chairman of the BIR Stainless Steel & Special Alloys Committee, Michael Wright of ELG Haniel GmbH was not at all confident that global stainless steel production in 2012 would achieve the mark predicted earlier this year. – more

   China to resume stockpiling base metals soon -sources – China is expected to soon resume stockpiling of some base metals, including copper and aluminium, buying them from domestic smelters hurt by weak demand, industry sources said on Tuesday. – more

   Indonesia to review unprocessed ore export rules-minister – Indonesia will review its rules on the export of unprocessed metal ores after a Supreme Court ruling that upheld a challenge to a government ban on such shipments, Energy and Mineral Resources Minister Jero Wacik said on Tuesday. – more

   Japan Ferroalloy Market Report – October 31, 2012 = It is worth noting that RMB is under pressure for further appreciation against US$ = Market situation of ferroalloys in Japan as of October 31 is as follows. – more

   China’s mining, metals industries pursue M&A possibilities overseas – China’s mining and metals companies are taking advantage of global caution to seize merger and acquisition opportunities in the sector in overseas markets, experts at Ernst & Young Global Ltd said on Monday. – more

   Eramet Group: Société Le Nickel-SLN, an ERAMET group subsidiary, signs declaration of intent with Southern Province and Vale New Caledonia on Prony and Creek Pernod deposits – Société Le Nickel-SLN, an ERAMET group subsidiary, signs declaration of intent with Southern Province and Vale New Caledonia on Prony and Creek Pernod deposits. – more

   Norilsk Nickel’s ice-breaking ships reach the Russian ports others can’t – Norilsk Nickel’s fleet carries copper and nickel but it’s also a vital link to the outside world for an isolated Siberian mining community. – more

   Courtesy AISI – In the week ending November 3, 2012, domestic raw steel production was 1,707,000 net tons while the capability utilization rate was 69.1 percent. Production was 1,793,000 tons in the week ending November 3, 2011, while the capability utilization then was 72.4 percent. The current week production represents a 4.8 percent decrease from the same period in the previous year. Production for the week ending November 3, 2012 is up 1.7 percent from the previous week ending October 27, 2012 when production was 1,679,000 tons and the rate of capability utilization was 67.9 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

Monday, November 5

• Dow Jones reports three month nickel closed Friday’s trading session at $7.24/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 as well. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over 130,100 tonnes. Nickel turned softer on Friday as attention shifted to the political arena, in both the US and China. The US outcome is uncertain while the once in a decade leadership change in China is expected. How these two events will change things going forward has put risk aversion back into the market and metals are lower today on a lower Euro. Nickel should get strong support at $7.20/lb.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper hits 2-month low as US election, China in focus – more
• LME Morning – Metals weaken on risk aversion, copper sets two-month lows – more

  Reports

• Damstahl Stainless Steel Report November 2012 – pdf here
• Weekly Scoreboard – 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  
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.78
• 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
• (NAS) North American Stainless will maintain the fuel surcharge at 35% for stainless flat and long products shipping in the month of November 2012. The surcharge rate is considered a maximum level for November and will be reviewed monthly.
• (MBN) Stainless steel mills in China cut their bids for November nickel pig iron (NPI), after nickel prices fell on the London Metal Exchange
• S&P summary: MMC Norilsk Nickel OJSC – more
• (Indonesia) Nickel miners continue free fall – more
• Iron ore prices to rise in Q4 – more

   Nickel supply continues to spring surprises: Andy Home – Nickel has been the underperformer of the industrial metals traded on the London Metal Exchange (LME) for much of this year. – more

    MEPS Expects Global Stainless Steel Output To Reach New Peak In 2012 – Total world crude stainless steel production for 2012 looks set to reach an all-time record figure of 34 million tonnes. This would be a 0.8 percent increase on the previous high, set in 2011. – more

   Indonesia court scraps mineral export regulations – Indonesia’s supreme court has scrapped a government ban on the export of unprocessed minerals, the country’s chamber of commerce said today, and urged the government to draft new mineral export rules. – more

   Islanders miss nickel’s ‘golden era’ – The island is red and almost barren, the sea encircling it not as generous as it was once due to overfishing and pervasive use of illegal fishing methods. – more

  Jan-Sept non-ferrous metals output up 7.1% – China produced 26.97 million tons of 10 major non-ferrous metal products in the first nine months of this year, up 7.1 percent year-on-year, according to data from the National Development and Reform Commission. – more

  Japan Q4-2012 Special Steel Production Plan = 4,857,500 tons, down 2% from Q3, mostly due to lower demand from automobile sectors = The Ministry of Economy, Trade and Industry (METI) of Japan released on October 30, a compiled production plan of hot-rolled special steel during the Q4 (October – December) of 2012, of which details are as per the attached table hereto.- more

   Metal recyclers cautiously optimistic – While U.S. manufacturing has been declining over the past couple of years, there has been recent recovery in the automotive sector and some signs of life in construction. – more

   Mysterious patterns found in Chinese desert ‘are result of geological surveys for nickel mines’ – Bizarre patterns in the deserts of central China are likely to be the result of geological surveys for nickel mines, according to the researcher who discovered the curiosity. – 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, November 2

• Dow Jones reports three month nickel closed Thursday’s trading session at $7.39/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 130,200 tonne level. Markets appear to be in flux this morning as traders await the US payroll report for October. Most of US reports yesterday revealed the US economy is keeping its head above water, but continues to mostly tread water. Today’s report will be the last major economic report to be released before the US election next Tuesday. Metals news has been very light this week, with Hurricane Sandy grabbing much of global attention. The price of LME cash nickel averaged $7.822/lb in October. This compared to $7.81/lb in September, $7.10/lb in August, and $8.57/lb in October 2011. Have a nice weekend!
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters morning – Copper slips on demand concerns, U.S. payroll eyed – more

  Reports

• Reuters Inside Metals – 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  

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.79
• 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
• Copper Set for Fourth Weekly Decline on China Inventory Concerns – more
• (Credit Suisse) – Nickel prices have suffered this year as the market shifted sharply into surplus on the back of very weak demand (the weakest of the five main LME metals), combined with increased supply from major ramp-ups and growing Chinese NPI capacity. However, we believe the market has moved back closer to balance, creating a more favorable price environment over the next three months. While the market’s attention has been focused on the demand-side in recent months, important supply-side developments have been largely overlooked. (see CS “Nickel – Supply Difficulties Create Opportunity for Higher Prices” for complete report)

   Xstrata fires 400 strikers at South Africa chrome mine – Global diversified mining firm Xstrata has dismissed 400 workers involved in an illegal strike at its Kroondal chrome mine in South Africa, the company said on Friday. – more

   Asian Prices Of Austenitic CR Stainless Sheets To Downward Revision By Over $100 – Prices of cold-rolled (CR) austenitic stainless steel sheets in the Asian area are forced to be revised to the downward trend by $100 to 150 to the level of $2,700 CFR. – more

   The Hedging abuse in commodity markets – The commodity markets were intended to help agricultural producers manage risk and find buyers for their products. – 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
• 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, November 1

• Dow Jones reports three month nickel closed Wednesday’s trading session at $7.35/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb higher, with other London traded base metals also trading higher as well. Stockpiles of nickel rose on Wednesday and now total just shy of 130,300 tonnes. This is the first time inventories have exceeded 130,000 tonnes since March 2011. Dow futures are unchanged this morning as traders prepare to receive numerous economic reports today, some delayed from earlier release by Hurricane Sandy. China’s PMI went positive in October, rising to 50.2 from 49.8, and this helped Asian markets close higher, and giving European markets a boost as well.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – LME copper inches up on China data, set to climb for 3rd day – more
• LME Morning – Metals boosted by Chinese PMI bounce but cobalt sets new low – more

  Reports

• Mining & Metals issue – 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  
• Sucden Financial Ltd Nickel Report – more

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.84
• 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
• Commodities Post Biggest Loss in 5 Months to Trail Stocks – more
• (Interfax) Stainless steel prices are on the way to a sustained recovery on the back of rising raw material prices, falling stockpiles and increased demand from the manufacturing sector, with further support expected from stimulus measures announced during the upcoming 18th National Congress, analysts told Interfax.
• (SO) According to statistics released by Japan’s Ministry of Finance, Japan’s nickel ore imports totaled 428,506 metric tons in September this year, rising by four percent month on month and up 30 percent compared to September 2011.
• Toledo Mining says Berong Nickel’s shipments over 678,000 tonnes – more
• (SSY) Japanese industrial production contracted for a fourth consecutive month to the lowest level since April 2011 in September, down 8.1% on an annual basis, official data shows.
• (MW) China’s Shanghai Composite index CN:000001 +1.72% soared 1.7% after an official gauge of manufacturing Purchasing Managers’ Index rose to 50.2 in October from 49.8 in September.

   Indonesia’s first nickel pig iron smelter starts output – Indonesia’s first nickel pig iron smelter has begun initial production of about 1,000 tonnes of ingots a day, kicking off a wave of new metal processing plants planned in the next few years. – more

   Sherritt posts loss on lower nickel sales, price – Canadian miner Sherritt International Corp posted a third-quarter loss on Wednesday as lower nickel prices and sales volumes, and lower exports of thermal coal weighed on revenue. – more

   Glencore Offers Concessions in EU Review of Xstrata Deal – Glencore International Plc (GLEN) offered unspecified concessions to European Union antitrust regulators examining its $33 billion takeover bid for Xstrata Plc, which would create the world’s fourth-biggest mining company. – more

   Eramet Group Production/Turnover – Q3 2012 = Manganese Group/Nickel Group downtrend in turnover continued = Eramet Group of France released production/turnover results of the Q3 (July – September) of 2012 on October 25. – more

   Norilsk Nickel Shareholders Seek to Resolve Dispute – The co-owners of Norilsk Nickel have resumed talks to settle the long-standing dispute over control of the nickel and palladium giant, in a move that could result in replacing the company’s management. – more

• Russian Billionaires Discuss Norilsk Chairman Job – Vladimir Potanin, a billionaire investor in OAO GMK Norilsk Nickel, has been proposed to become chairman of the world’s biggest producer of the metal as a step toward resolving a four-year shareholder conflict, according to two people with knowledge of the matter. – more

   Courtesy AISI – In the week ending October 27, 2012, domestic raw steel production was 1,679,000 net tons while the capability utilization rate was 67.9 percent. Production was 1,781,000 tons in the week ending October 27, 2011, while the capability utilization then was 71.9 percent. The current week production represents a 5.7 percent decrease from the same period in the previous year. Production for the week ending October 27, 2012 is down 2.5 percent from the previous week ending October 20, 2012 when production was 1,722,000 tons and the rate of capability utilization was 69.7 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

 October Archives

Translate this page to French | German | Spanish | Italian | Portuguese | Chinese | Japanese | Korean | Russian

“A Guide To LME Trading”…pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays – Disclaimer Original 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.