Stainless Steel News and Nickel Prices, Molybdenum, Metal Pricing, Ferrochrome

Monday, April 30

• Three month nickel closed Friday’s trading session at $6.29/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on both Thursday and Friday and started the week just under the 307,300 tonne level. Nickel was quiet on Thursday, but retreated on Friday to close below the $14,000 tonne level . It also fell below another support line and is now trading inside the $5.83/lb to $6.31/lb range it has traded in for much of 2018. Markets are quiet today, with many countries shut down for the May Day holiday tomorrow and workers taking today off for an extended weekend. LME markets are open and will close next Monday for the holiday. After closing above the $15,000 tonne level on the 19th, nickel has now retreated back to where it was trading on the 13th. Vale is threatening to do something else with its New Caledonia operation, but apparently markets are tiring of the whining about low prices and the news is having little effect on today’s trading. So far, its a slow trading day to end the month.
• Average price of cash nickel so far this month – $6.33/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Copper climbs on solid China manufacturing report, softer dollar – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• The S&P Global Platts China Steel Sentiment Index rose to a 25-month high of 82.78 points out of 100, up from 69.09 in March, on more orders and production
• China’s industrial body warns over rapid crude steel growth – more
• Russia: government to buy Deripaska’s stake in RUSAL – more
• Stocks Advance as Deals Greet Week; Pound Weakens: Markets Wrap – more

     Friday’s market review – Aluminium heads for biggest weekly drop since 2011 – Aluminium fell on Friday after sources said sanctions-hit Russian producer Rusal will overhaul its management structure to restore shipments, further dampening fears of a supply shortfall. – more

     Aluminium market to rebalance, prices to hold steady – Reuters poll – Still supporting the nickel market is the expectation of a surge in demand for electric vehicle batteries, though most investors and analysts acknowledge that it will take several years for momentum to build in this area.- more

     Vale eyes $1 billion in dividends each quarter this year – Vale SA, the world’s top iron ore producer, expects iron ore prices no lower than $70 per tonne this year and will hand out $1 billion in dividends each quarter this year if conditions remain similar ahead, executives said on Thursday. – more

• Vale not happy with nickel prices – more

     Townsville refinery liquidator confirms refusal of Clive Palmer employee payout – Kelly-Anne Trenfield, a liquidator and former administrator of Queensland Nickel’s Yabulu refinery — which went into voluntary administration in January 2016 – has admitted in court that she rejected an offer from Queensland Nickel managing director Clive Mensink to pay all administration costs if she transferred the refinery’s employees and assets to a new operator. – more

      China steel sector eyes possible 2H supply surplus – China’s steel market could shift back to oversupply in the second half of 2018 if its economic growth slows just as new mill capacity comes on line. – more

      Section 232 Probe Creates Chaos in Global Steel Industry – The consensus view from MEPS research, this month, is that a large degree of uncertainty persists in the global steel market. – more

     Tanzania: Nickel to Be Transported On Standard Gauge Rail – Extension of the 572-kilometre Standard Gauge Railway (SGR) from Isaka to Rusumo- Kigali is aimed at tapping not only shipments to and from Rwanda, Burundi and northern parts of Democratic Republic of Congo (DRC) but also 3.6 million tonnes of nickel at Kabanga mine project in Ngara, Kagera, Region. – more

      High grade Radio Hill nickel results boost Artemis – Shares in Artemis Resources have gained today after shallow high-grade nickel was intersected at the top of the Radio Hill deposit near Karratha in Western Australia’s Pilbara. – more

     Govt clinches $730 million mining investment deal – The Government will next month sign a major framework agreement that will see more than $730 million worth of investment coming into the mining sector with coal bed methane being one of the key priority areas, a Cabinet Minister has said. – more

     Citizens, experts voice ferrochrome qualms – If there was any doubt left as to the level of interest or concern about a proposed ferrochrome smelter in Coniston, that should have been erased with a visit to Ecole Notre-Dame de la Merci on Saturday afternoon. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Thursday, April 26

• Three month nickel closed Wednesday’s trading session at $6.42/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started the day just under the 309,600 tonne level. Technically, nickel sent a bearish signal yesterday, when it closed below support for a second consecutive day. We show support now at $6.31/lb, which is the high side of a tighter trading range nickel spent much of March in. That is if you believe in trading by technical signals alone. For those who trade on other factors like macroeconomics, the US Dollar is trading at or near its 2018 high against the Euro. China steel prices continue to slowly recover, while Chinese stainless steel prices are lower, yes lower, than last month. And in world economic news, fears about further Russia sanctions or Chinese tariffs appear to have subsided… at least for now. This is our final update for the week and we wish each of our readers a safe and enjoyable weekend.
• Average price of cash nickel so far this month – $6.32/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – London aluminium resumes decline as LME reassesses Rusal metal – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• China’s War on Pollution Fuels State Takeover of Heavy Industry – more
• Ford Plans $11.5 Billion in Extra Cuts, Killing Most U.S. Cars – more
• Stocks Stabilize as Results Roll In; Bonds Advance: Markets Wrap – more

     Wednesday’s market review – Aluminium claws back lost ground after 4-day slide – Aluminium clawed back some lost ground on Wednesday after four straight days of losses, but remained down 18 percent from its April peak as concerns over the impact of U.S. sanctions on Russian producer United Company Rusal eased. – more

     INSG sees global nickel demand of 2.34 million mt in 2018 – Global demand for nickel is likely to rise to 2.34 million mt in 2018 from 2.19 million in 2017, the International Nickel Study Group (INSG) said on Wednesday April 25. – more

     Layoff notices sent to 169 Vale employees in Thompson, Man. – Vale has sent layoff notices to 169 hourly employees in Thompson, Man. The company will closes down its smelting and refining operations in Thompson on July 31. – more

     Queensland Nickel staff have assisted firefighters responding to a blaze near the Yabulu site – Skeleton staff remaining at Queensland Nickel fired up machinery to clear a path for firefighters to attack a blaze near the site. – more

     Environmental impacts from potential ferrochrome smelter to be discussed at public session – A public information session will be held this Saturday to discuss a proposed ferrochrome smelter that may be built in Coniston in Greater Sudbury. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Wednesday, April 25

• Three month nickel closed Tuesday’s trading session at $6.35/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and started today just over the 310,900 tonne level. Nickel fell below support of $6.46/lb yesterday, and is trying to climb back above. A second close today, will put support at $6.31/lb. Markets appear quiet, looking to world news for guidance. At the moment, Twitter is quiet.
• Average price of cash nickel so far this month – $6.32/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Aluminium falls for fifth day as Rusal fears ease – more
• Reuters Daily Inside Metals – pdf here
• U.S. Imports of Stainless Steel Mill Products – more
• March 2018 crude steel production – more

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (HM) The stainless steel sector’s share of global primary nickel demand is set to decrease from 68% in 2017 to 60% in 2027, as demand from the battery sector surges
• LME looks at implications for Rusal’s aluminium after U.S. extends sanctions deadline – more
• Dollar Gains as Treasury Yield Hits 3%; Stocks Dip: Markets Wrap – more

     Tuesday’s market review – Aluminium extends price fall on U.S. sanctions reprieve – Aluminium hit its lowest in nearly two weeks on Tuesday, extending declines from the previous day after Washington gave U.S. companies more time to comply with sanctions on Russian producer Rusal and hinted at further sanctions relief. – more

      Raw material suppliers join Finland battery factory project – Five companies that can supply essential raw materials for an emerging battery industry in Finland have joined a cooperation network that aims to obtain international investment in the battery cluster. – more

      Philippines’ Global Ferronickel says mining curbs may hit output – The Philippines’ second-biggest nickel miner, Global Ferronickel Holdings Inc, said planned government curbs on mining may hit its long-term output and would force it to make adjustments to meet its 2018 shipment goals. – more

• After crackdown, Philippines plans fresh mining curbs – more

      Cuba sees 2018 nickel plus cobalt output topping 50,000 tonnes – Cuba forecasts nickel plus cobalt sulfide production will exceed 50,000 tonnes this year even as prices rise, the head of the country’s state monopoly Cubaniquel was quoted by local media as stating on Tuesday. – more

      Proposed Coniston smelter topic of meeting – The possibility that Coniston may host a ferrochrome production facility has generated much discussion and many questions in the community. What are the risks and benefits? – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Tuesday, April 24

• Three month nickel closed Monday’s trading session at $6.47/lb . Indicators at 6:05 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 312,300 tonne level. We gave major support yesterday at $6.46/lb, and after trading below that level ($6.30/lb for daily low), traders were able to climb back above this level and close at $6.47/lb. The price is slightly higher this morning, but showing little enthusiasm so far. We may see a tug of war around this level, or we could see another bullish rise or bearish dip. Time will tell.
• Average price of cash nickel so far this month – $6.31/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Aluminium extends price fall on U.S. sanctions reprieve – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Kremlin cautious about possible easing of U.S. curbs on Rusal – more
• Bonds Edge Up as Dollar Holds Gain; Stocks Climb: Markets Wrap – more
• El Niño–Southern Oscillation expected to remain neutral through winter – more

     Monday’s market review – Aluminium tumbles as U.S. extends deadline for Rusal wind-down – Aluminium fell 7 percent on Monday, its biggest one-day drop in eight years, on news that the United States has extended the deadline for companies to wind down business with sanctions-hit Russian producer Rusal. – more

       LME plans nickel closing price experiment – The London Metal Exchange (LME) is planning to move end-of-day pricing of the benchmark three-month nickel contract from open outcry to its electronic trading platform for a trial period, LME chief Matt Chamberlain said on Monday. – more

      Nickel Market Reports Modest Deficit In Jan-Feb ‘18 – The Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) indicates that global Nickel market ended in modest deficit during the first two months of 2018. – more

      Steel ‘is still big driver of nickel price’ – Western Areas managing director Dan Lougher says stainless steel demand is still the driving force behind rising nickel prices, despite expectations the commodity will play a big role in supplying the growing battery and electric vehicle market. – more

      Courtesy NAS – Effective with shipments May 1, 2018, North American Stainless will make the following price changes:• Type 416 bar increase of $80/ton ($.04/lb) • All other alloys of bar increase of $40/ton ($.02/lb) • Wire Rod increase of $80/ton ($.04/lb) • Angle increase of $80/ton ($.04/lb) Please note, all active requests for quote will be subject to the price changes listed above. – source

       Vale’s Production Volumes of Mn Ore, FA, Ni and Co in Jan-Mar 2018 = Production of ferroalloys and cobalt is up from year-earlier period = On April 16, Vale S. A., a major resource company in Brazil announced its production volumes of manganese ore, ferroalloys, nickel and cobalt in the period from January to March in 2018. – more

       Expect volatility in aluminium and broader commodities’ pricing: David Lennox, Fat Prophets – In an interview with ET Now, David Lennox, Fat Prophets, says there has been a decline in aluminium and alumina inventories over last 12 months and that would have provided a good tailwind for the prices earlier. – more

      Philippines’ top nickel miner keeps sales guidance despite govt curbs – The Philippines’ top nickel ore producer, Nickel Asia Corp, said its export plans in 2018 remain unchanged despite government plans to limit mining areas. – more

       Courtesy AISI – In the week ending on April 21, 2018, domestic raw steel production was 1,788,000 net tons while the capability utilization rate was 76.3 percent. Production was 1,721,000 net tons in the week ending April 21, 2017 while the capability utilization then was 73.8 percent. The current week production represents a 3.9 percent increase from the same period in the previous year. Production for the week ending April 21, 2018 is up 0.2 percent from the previous week ending April 14, 2018 when production was 1,784,000 net tons and the rate of capability utilization was 76.1 percent. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Monday, April 23

• Three month nickel closed Friday’s trading session at $6.73/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.22/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and rose slightly on Friday and start the new week just over the 312,900 tonne level.  We show technical support at $6.46/lb, which if nickel falls below, puts it back on the high side of a range it has been trading in for months. After closing above the $15,000/tonne level on Thursday, nickel has been falling since, and today, is falling off a cliff, just a few dollars away of falling $500/tonne. It will be curious to see what happens as US traders enter the market day. For now, the speculation about potential new Russian sanctions appears to be calming and the market is returning back to where it is more comfortable – at least, for now. What went up, is coming down and traders should remember the old adage – “what happens when one tries to catch a falling knife?”. Regardless of the daily trading price, the average for the month is well above last month, so expect some higher May surcharge numbers being published later this week.
• Average price of cash nickel so far this month – $6.31/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Aluminium climbs as Rusal sanctions stoke supply fears – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (IT) A ferrochrome plant with a 60,000-ton per year capacity was inaugurated in Kerman Province’s Rafsanjan Special Economic Zone (Iran) on Thursday. Launched in the fiscal 2014-15, the project was established using Chinese investment amounting to 4.2 trillion rials ($100 million).
• Mining firms from China to Canada watch as Greenland holds election – more
• Deep-sea mining: scientists say collaboration is key – more
• Shocking claim about asteroids could change everything – more
• Dollar Strengthens as U.S. Treasury Yields Near 3%: Markets Wrap – more

     Friday’s market review – Aluminium slips from seven-year highs as Rusal sanctions rally stalls – Aluminium prices fell for a second day on Friday as a rally sparked by U.S. sanctions against Russia’s Rusal, the world’s second-biggest producer, appeared to stall. – more

      Sanctions fever grips nickel as market rethinks Russia risk: Andy Home – Sanctions fever has spread to nickel. With Russian aluminum producer Rusal imploding in the wake of U.S. sanctions against its oligarch owner Oleg Deripaska, attention is now turning to the status of another Russian industrial powerhouse, Norilsk Nickel. – more

      Exclusive: After crackdown, Philippines plans fresh mining curbs – The Philippines is planning to limit the amount of land that miners can develop at any one time to boost environmental rehabilitation, a move that miners say may cut output of nickel ore in last year’s top supplier to China. – more

      Production Volume of SUS Products in January 2018 Is 254,983 Tons = Up by 1% from prior month, and production of Chrome-type and Ni-Cr-type of products is up = The Ministry of Economy, Trade and Industry announced the production volume of stainless steel products (hot-rolled products) in January 2018 was 254,983 tons, which was up by 1.2% from the prior month and up by 6.4% from the year-earlier month. – more

      Nickel, Cobalt Remain In High Demand As EV Market Grows – From Streetwise Reports: As electric vehicles grab a larger share of the automotive market, the sourcing of raw materials becomes increasingly important. – more

      Indonesian SOE Ramping Up Gold And Nickel Production – PT Aneka Tambang Tbk is a 65%-state-owned Indonesian enterprise engaged primarily in mining, refining, and processing of metals including nickel ore, gold, silver, and bauxite. – more

      Western Areas commissions plant to produce high-grade nickel sulphide – “Western Areas now has a new high-grade nickel sulphide product set to attract premium pricing above its existing concentrate terms. – more

      Appeal lodged to return Tati to liquidation – The Court of Appeal is set to hear an urgent appeal by the former Tati Nickel liquidator to return the mothballed mine back into liquidation, BusinessWeek has established. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Thursday, April 19

• Three month nickel closed Wednesday’s trading session at $6.74/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.15/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and now total just over the 314,300 tonne level. Nickel traded over $7.50/lb earlier today, and is currently trading around $7.10/lb. This is one of those trading sessions a risk taking trader can make a lot of money, or lose a lot of money, depending on when they buy and what the market does. And one of those sessions that gives most in the stainless steel industry a serious headache. Media appears to be crediting this situation to the great unknown and will he or won’t he. On Sunday, Nikki Haley told the United Nations that President Trump would announce new sanctions against Russia and rumors have spread that Norilsk nickel would be added to the aluminum fiasco. On Monday, the White House back tracked off Nikki’s threat and President Trump has decided not to add more sanctions….. at least as of today. Apparently many traders believe that decision is not written in stone, as few in this administration have proven to be. Whatever is to blame, yesterday we were trading at highs last seem in January 2015. Today, we are trading at highs last seen in January 2014, and the jump we witnessed earlier today, was the biggest we have seen since 2008. And we don’t want to start making comparisons to 2008. The bull is back and on a stampede. Best to step aside and let the serious money play, and see where things end up when calmness returns. This is our last update for the week, and we hope you each have a safe and relaxing weekend.
• Average price of cash nickel so far this month – $6.21/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Nickel soars 9 pct to 3-year high on Russia sanctions scare – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Metals Gripped by Turmoil as Rusal’s Sanctions Fallout Spreads – more
• Commodities Rally as Metals Surge; Bonds Slide: Markets Wrap – more

     Yesterday’s market review – Aluminium hits near 7-year peak; nickel rallies to 3-year top – Aluminium hit its highest in nearly seven years on Wednesday amid growing supply concerns in the aftermath of U.S. sanctions on Rusal, while nickel hit a three-year peak on technical factors and fears over additional Russian sanctions. – more

      Sanctions Fallout Upends Metals as Aluminum, Nickel Burst Higher – The turmoil unleashed by U.S. sanctions against United Co. Rusal reverberated in metals markets, sending aluminum and nickel to multi-year highs. – more

     Price of HC FeCr in China Continues Dropping due to Weak Demand = Slumping price of stainless steel gives impact = The price of high-carbon ferro-chrome in the Chinese domestic market rose during February and continued rising also in early March, but dropped back in the latter half of March. – more

      Lower long-term steel prices on excess global steel production: Commerzbank – Lower steel prices longer term due to excess steel supplies over the next two years are expected, investment bank Commerzbank said Wednesday. – more

      Courtesy AISI – In the week ending on April 14, 2018, domestic raw steel production was 1,784,000 net tons while the capability utilization rate was 76.1 percent. Production was 1,721,000 net tons in the week ending April 14, 2017 while the capability utilization then was 73.8 percent. The current week production represents a 3.7 percent increase from the same period in the previous year. Production for the week ending April 14, 2018 is down 1.2 percent from the previous week ending April 7, 2018 when production was 1,805,000 net tons and the rate of capability utilization was 77.0 percent. – source

     Steel Ballers hack to victory for Nickel West – A Simulation and genetic algorithm that could improve an ore crushing circuit’s throughput by 3% has won first prize at Unearthed Solution’s Unearthed Perth 2018. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Wednesday, April 18

• Three month nickel closed Tuesday’s trading session at $6.45/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.21/lb higher. Stockpiles of nickel stored in LME approved warehouses rose for a second day and now total just under the 315,700 tonne level. Nickel is way up this morning, but not really sure what all the speculation is based on. Technical signals are positive, but not to this extreme. Possible Russian sanctions are off the table for now, after the President decided against them yesterday. Cancelled warrants have fallen from over 41% to under 35% today. Broker Marex Spectron reports that there has been some “consistent CTA (black box fund) bid of late”. Somebody is gambling and others are jumping on the band wagon apparently. This is a time where the risk of getting your fingers burnt are high, so we will watch the market cautiously. For now, nickel is trading at its highest since January 2015.  
• Average price of cash nickel so far this month – $6.15/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Aluminium hits 6-1/2-year peak on supply worries; nickel rallies – more
• Reuters Daily Inside Metals – pdf here
• worldsteel Short Range Outlook April 2018 – more

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (WBMS) The Nickel market was in deficit during January to February 2018 with apparent demand exceeding production by 24 kt. In the whole of 2017 the calculated deficit was 96.1 kt. Reported stocks held in the LME at the end of February 2018 were 31 kt lower than at the end of the previous year. Refined production in January to February 2018 totalled 286.0 kt and demand was 310.2 kt. – more
• U.S. Stock Futures Climb on Earnings, Geopolitics: Markets Wrap – more

     Tuesday’s market review – Chinese data weighs on metals; aluminium set to rebound – Weak industrial data in top base metals consumer China weighed on prices on Tuesday, while aluminium took a breather but was expected to resume its rally as U.S. sanctions disrupt supplies from the world’s No. 2 producer Rusal. – more

      BHP Billiton to produce nickel sulphate next year, eyeing cobalt on battery boom – BHP Billiton is expanding its business as a supplier of battery minerals at its nickel refinery in Western Australia, planning to start producing nickel sulphate next year and looking at cobalt output as well, a company executive said. – more

     Indonesia says shipped 8.6 mln T of nickel ore since 2017 policy shift – Indonesia exported 8,637,595 tonnes of nickel ore up to March 31, 2018 since its ore export policy was revised in January, 2017, data from the mining ministry showed – more

      Nornickel exec says in talks with battery makers on investments, cooperation – Russia’s Norilsk Nickel , or Nornickel, is in talks with battery makers over possible investment in its mining assets, but is also interested in downstream joint ventures in return, a company executive said on Wednesday. – more

      Major Russian polluter pledges to turn over a ‘green’ leaf on national television – In a wide ranging appearance on Russian national television, Vladimir Potanin, the president of Norilsk Nickel, a long-time, heavy-duty polluter, made the case that his company has turned over a new leaf, and hitched its future to producing “green” products in an environmentally friendly manner. – more

      Clive Palmer tries to halt Queensland Nickel legal action over ‘abuse of process’ – Clive Palmer says he once offered to pay the debts of Queensland Nickel and that he will seek to halt legal proceedings against the failed company. – more

      China’s Beijing Easpring says will need more cobalt and nickel offtake agreements – China’sBeijing Easpring Material Technology Co Ltd is looking for additional nickel and cobalt offtake agreements to sustain growth in cathode materials production, its general manager said on Wednesday. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Tuesday, April 17

• Three month nickel closed Monday’s trading session at $6.50/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and now total just under the 314,500 tonne level. Nickel successfully closed above resistance for a second day yesterday, sending a positive bullish signal to the market. It also closed above the $14.,000/tonne level for the first time since February. Today, markets are lower on news President Trump has backed off earlier promises to place more business sanctions on Russia.  Some had feared Russian Norilsk owner Potanin might be a target, and having witnessed the huge increase in aluminum prices, traders gambled this cold be bullish for nickel. We will have to wait and see if this takes the gas out of this run, but we suspect it is hitting major resistance at $14,000/tonne, which has taken the gas out of many prior runs.
• Average price of cash nickel so far this month – $6.13/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Aluminium extends rally, hits strongest since 2011 on supply woes – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• U.S. Futures Advance as Focus Shifts to Earnings: Markets Wrap – more

     Yesterday’s market review – Supply concerns, weaker dollar push aluminium to highest since 2011 – Aluminium prices rallied to their highest since 2011 on Monday as the dollar fell and Rio Tinto declared force majeure on some customer contracts after the United States imposed sanctions on its Russian partner Rusal. – more

      Brazil’s Vale nickel output down 17.9% year on year in Q1 to 58,600 mt – Vale produced 58,600 mt of finished nickel in the first quarter of 2018, down 17.9% from Q1 2017, the Brazilian miner said Monday. – more

     Maintenance, cutback to affect output of #300 stainless steel – About 100,000 mt of #300 stainless steel output will be affected as a stainless steel plant in north-west China undertakes maintenance and as a steelmaker in Fujian province cuts production, an SMM survey showed. – more

     Russia’s Arctic ore mining district attractive for investors, experts note – The new data on resources of nickel and platinum group metals on the Kola Peninsula, which geologists received after recent research, prove the Monchegorsk mining-ore district is attractive for investors, Managing Director of the geology authority, Rosgeologiya, Oleg Vasin said. – more

     Asian Mineral Resources Update On Strategic Review For Ban Phuc Nickel Mine In Vietnam – more

     Money didn’t change Voisey’s Bay discoverer, son says – As the Newfoundland legislature paid homage Monday to a mining pioneer who died last week of cancer, the man who called Al Chislett dad said he will miss the adventures and the conversation. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Monday, April 16

• Three month nickel closed Friday’s trading session at $6.32/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the week just under the 312.,000 tonne level. Nickel closed above resistance on Friday and looks to easily beat that level today, so the bull appears to be on the run again. The average price of nickel last month was $6.08/lb, and we are now above that level. Monday is usually packed with news, but Thursday and Friday were fairly quiet, and so far, not much is happening this week. For the second week in a row, a nickel mine on New Caledonia is reporting a fire. This time its at the SLN mine, and appears to potentially have been intentionally set. The US President was too busy attacking Syria and his former Attorney General to tweet about China, so the potential trade war news is back burner for now. Last week ended with eh bull in control and this week is starting similar.  
• Average price of cash nickel so far this month – $6.10/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Aluminium resumes rally after Rio Tinto force majeure – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• AIIS Newsletter: April 2018 – more
• Wall Street Economists See Global Growth Cresting Not Collapsing – more
• U.S. Stock Futures Rally, Bonds Fall After Syria: Markets Wrap – more

     Friday’s market review – Aluminium posts near 12 pct weekly jump on Rusal sanctions – Aluminium hit a six-year high on Friday and posted its biggest weekly gain since the current contract was launched, after the United States imposed sanctions on Russia’s UC Rusal, the world’s second-biggest producer. – more

      Fire damages New Caledonia nickel mine belt system – There has been a fire at a Kouaoua mining site of New Caledonia’s SLN nickel company. – more

      Special Steel Demand Forecast in Apr-Jun 2018 = Down by 0.4% from year-earlier period = On April 6, the Ministry of Economy, Trade and Industry made clear its demand forecast about special steel products in the period from April to June in 2018 in the lecture made in the Special Steel Association of Japan. – more

      Ni Containing Stainless Sheet Price Moves in Asia Further Slow Down – Price movements of nickel (Ni)-containing stainless sheets in the Asian region have become even slower. The prices of cold-rolled sheets are at the $2,200 CFR level, and the price difference with hot-rolled coil (HRC) has narrowed down to around $100-150. – more

      8th District DFL candidates split on mining – Stephanie Lee had one hope for the 8th Congressional District DFL candidate forum at Fond du Lac Tribal and Community College in Cloquet on Wednesday, April 4. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Thursday, April 12

• Three month nickel closed Wednesday’s trading session at $6.29/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.07/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started today’s session just under the 314,950 tonne level. Lot of news for a Thursday. Even Australian Clive Palmer made news covered by the smaller media, by suing the creditors for Queensland, who have been suing him. Mr Palmer has gone from being one of Australia’s most popular billionaires, to what appears to be, one of the most disliked. Oleg Deripaska  has been wrestling for more control at Norilsk Nickel for year, but Vladimir Potanin just got a gift from US President Trump, when he added Deripaska to sanctions, making him a hot potato for any business and unable to purchase an additional 2% of the company. Nickel is trading lower this morning, but we will have to wait and see what kind of mood American traders are in. Lot of reasons to be nervous looking around the political world , but so far, the economic world remains positive. This si our last update for the week and we wish each of you a safe and relaxing weekend.
• Average price of cash nickel so far this month – $6.06/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – London zinc slides to 4-mth low on slow pick-up in China steel demand – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• The $105 Billion ‘Ghost Stock’ Blunder Rocking Markets in Korea – more
• Stocks Advance After Trump Tweet; Dollar Gains: Markets Wrap – more

     Wednesday’s market review – London aluminium climbs for 6th session after LME suspends Rusal metal – London aluminium prices climbed as much as 2 percent on Wednesday, trading higher for a sixth straight session as the fallout from U.S. sanctions on Russian producer United Company Rusal continues to roil metals markets. – more

      Prices of Ni-containing Cold-rolled Stainless Sheets Stay Flat in East Asia – Prices of nickel (Ni) -containing cold-rolled stainless sheets have remained at the same level in the East Asia region. LME Ni prices returned to the $6.0 per pound level at March-end after a long interval; however, the market showed almost no response. – more

     Antam’s Nickel Production Soars 107 Percent in Q1 – PT AnekaTambang Tbk achieved positive operational performance and sales of key commodities in the first quarter of 2018. The company recorded ferronickel production volume of 6,088 tons of nickel in ferronickel (TNi), up 107 percent from the first quarter of 2017 achievement of 2,934 TNi. – more

     Deripaska declines to become member of Norilsk Nickel board – Russian tycoon Oleg Deripaska, President and core beneficiary of troubled aluminum giant UC RUSAL, has declined to be nominated to the board of directors of another metals giant Norilsk Nickel, a spokesperson for the company told reporters on Thursday. – more

      EU measures to mitigate Section 232 – To protect the European steel industry from an anticipated import glut triggered by global overcapacity and the recent Section 232 measures taken by the USA, the European Commission launched a safeguard investigation on 26 March which might result in an import quota on all finished carbon and stainless steel products and would prevent European prices from dropping of a cliff. – more

      Japan’s Purchase Price of HC FeCr for Apr-Jun Up by US Cents 24 = US Cents 150 per lb, which is affected by tight supply and demand in Europe = Japanese stainless steel mills have continued negotiation with multiple overseas ferro-chrome producers to fix the purchase price of high-carbon ferro-chrome for the period from April to June in 2018 and have this time come to an agreement on the price to be up by US Cents 24 from the prior period. – more

      Botswana’s Tati Nickel Mine out of liquidation after court ruling – Botswana’s High Court has taken Tati Nickel Mine out of provisional liquidation, dismissing a request for more time to negotiate with potential buyers, the liquidator said on Wednesday. – more

      Clive Palmer seeking $1.8 billion in damages against Queensland Nickel liquidators – Businessman Clive Palmer says he is seeking $1.8 billion in damages from the administrators and liquidators of his Townsville nickel refinery. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Wednesday, April 11

• Three month nickel closed Tuesday’s trading session at $6.21/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.03.lb higher. Stockpiles of nickel stored in LME licensed warehouses rose….. yes rose on Tuesday and now total just over the 315,800 tonne level. Vladimir Potanin is not known for making news discussing politics very often, at least from what the wires pick up, but he warned that President Trump’s recent sanctions on Russian companies resembles a trade war, something similar to what the US is teetering on with China. The stainless steel price index in China continues to fall, while steel futures, after rising for the last few days, fell back overnight. The index is down over 18% from the end of February, while stainless steel prices are down nearly 3% from a month ago. With the big increase in US producer stainless steel surcharges for this month, US stainless steel prices are higher. We show the first line of resistance at $6.31/lb so nickel has room to run.
• Average price of cash nickel so far this month – $6.03/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – London aluminium climbs for 6th session after LME suspends Rusal metal – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• China files trade complaint against US over steel tariffs – more
• Syria Hangs Over Assets Before U.S. Inflation Data: Markets Wrap – more

     Tuesday’s market review – Aluminium hits 2-month peak as LME takes action on Rusal metal – Aluminium prices surged to the highest in over two months on Tuesday after the London Metal Exchange imposed restrictions on metal from Russian producer Rusal due to U.S. sanctions. – more

     Russia’s Nornickel co-owner says U.S. sanctions resemble trade war – Russian billionaire Vladimir Potanin said on Tuesday the U.S. sanctions imposed on some Russian companies resembled a large-scale trade war. – more

• LME to suspend Rusal’s aluminium from approved brand list – more

    South32 lashed by Colombian court over Cerro Matoso waste emissions – South32 may have to reapply for its licence to run the Cerro Matoso nickel project in Colombia and is facing a hefty compensation bill after a court ruled that waste emissions from the mine and smelter had seriously affected neighbouring communities. – more

     Sirius Resources set for massive takeover bid after Nova discovery in WA – Aspiring West Australian nickel producer Sirius Resources is set to be to taken over for $1.8 billion. – more

    Europe’s coming gigafactory boom, mapped  – By 2020 at least seven new gigawatt-size battery factories are scheduled to start operating on the continent, with another three developments rumoured. – more

     Voisey’s Bay co-discoverer Al Chislett was ‘unshakable optimist’ – Al Chislett, one of the individuals responsible for the biggest mineral discovery ever in Canada, lost his battle with cancer and died Sunday. He was 69. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Tuesday, April 10

• Three month nickel closed Monday’s trading session at $6.09/lb . Indicators at 6:15am CST today show 3 month nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just under the 315,200 tonne level. As has been happening over the past few weeks, nickel appears to be trading on the breeze generated by world political news, and as yesterday was a quiet day on Twitter, market anxiety eased. This market wants to remain bullish, but factors outside the commodity market have put a damper on latter 2017 enthusiasm. Trade wars are dangerous to economies and with the US and China teetering on the edge of one, markets are now nervous. With a recent election in Russia solidifying support for President Putin, that leader now has the public support  necessary to continue provoking others. The Middle East continues to be a powder keg, waiting for the right match to set it off. But nickel continues to be mined and stainless steel continues to be produced. World economies are doing well, and only world leaders can screw that run up. They are trying apparently. Let’s hope they fail. Today is an early report.
• Average price of cash nickel so far this month – $5.99/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Aluminium prices extend gains on Rusal sanctions – more
• Reuters Daily Inside Metals – pdf here
• Resources and Energy Quarterly March 2018 – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Global Debt Jumped to Record $237 Trillion Last Year – more
• Xi Warns Against Returning to a ‘Cold War Mentality’ – more
• Iron Ore Giant Says Miners Have Shut Gates on New Supply – more
• Traders Turn Risk-On as U.S.-China Standoff Eases: Markets Wrap – more
• El Niño–Southern Oscillation influence on the climate remains weak – more

     Monday’s market review – U.S. sanctions on Rusal lift aluminium to four-week high – Aluminium prices soared on Monday to their highest in more than four weeks after the United States imposed sanctions on Russian company Rusal, one of the world’s largest producers. – more

     Japan’s NSSC keeps spot stainless CRC, plate prices at current levels – Japan’s Nippon Steel & Sumikin Stainless Tuesday said it has decided to maintain its spot austenitic cold rolled coil and plate, as well as ferritic CRC prices for April sales contracts at current levels, the company said in a statement. – more

      Western Areas eyes battery market with WA sulphide nickel project – The board of ASX-listed nickel miner Western Areas has approved a A$32-million early works programme at the Odysseus project, in Western Australia. – more

     China’s Baowu expects steel sales growth to slow – Chinese state-controlled steel producer Baowu expects its sales and output growth to slow this year as China’s steel consumption either remains flat or falls slightly. – more

     Courtesy AISI – In the week ending on April 7, 2018, domestic raw steel production was 1,805,000 net tons while the capability utilization rate was 77.0 percent. Production was 1,721,000 net tons in the week ending April 7, 2017 while the capability utilization then was 73.8 percent. The current week production represents a 4.9 percent increase from the same period in the previous year. Production for the week ending April 7, 2018 is up 1.6 percent from the previous week ending March 31, 2018 when production was 1,776,000 net tons and the rate of capability utilization was 76.2 percent. – more

     Al Chislett, co-discoverer of Voisey’s Bay, dies at 69 – Al Chislett, the co-discoverer of the massive Voisey’s Bay nickel deposit in northern Labrador, has died in St. John’s at the age of 69. – more

     Russia’s Nornickel company working on drones for mines monitoring – The Norilsk Nickel Company plans to make an unmanned aerial vehicle, which could move independently inside mines, the company’s representative Levon Kirakosyan told reporters at during an IT show. – more

     Sudbury Chamber backs former Coniston smelter location for ferrochrome production – Greater Sudbury has the opportunity to capitalize on 120 years of mining leadership and success and to ensure a prosperous 150-plus years of future with its invitation to Noront Resources to build its Ferrochrome Production Facility (FPF) in our community. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Monday, April 9

• Three month nickel closed Friday’s trading session at $6.02/lb . Indicators at 6:25 am CST today show 3 month nickel trading unchanged. Stockpiles of nickel stored in LME approved warehouses fell both Thursday and Friday and start the week just under the 315,900 tonne level. Nickel is caught up in the overall nervousness of trading markets, unsure of what new US foreign policy change might be announced by Twitter today. While China has been getting all the economic attention of the US President, Russia has been pushing its political muscle around the world, and after a new chemical attack in Syria over the weekend, no one knows how, or if, the US might respond. The Philippine president instructed mining companies there to start reforesting and renewed his threat to ban open pit mining. Markets appear to be at the mercy of the news cycle, so based on the ego’s involved, it could be another interesting week. May it it be a prosperous one for you.
• Average price of cash nickel so far this month – $5.99/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – U.S. sanctions on Rusal lift aluminium to near four-week high – more
• Reuters Daily Inside Metals – pdf here
• U.S. Exports of Stainless Steel Mill Products – more
• U.S. Imports of Stainless Steel Mill Products – more

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Tit-for-tat Tariff’s – more
• World’s Top Iron Shipper Says China Import Boom to Level Off – more
• Sanctions on Russian tycoon Deripaska will create global ripples – more
• Stocks Rise, Bonds Fall on Hopes Xi Can Calm Waves: Markets Wrap – more

     Friday’s market review – Aluminium rebounds on Rusal sanctions, others slip – Aluminium rebounded on Friday after the United States imposed sanctions on allies of President Vladimir Putin and their companies, including Rusal, one of the world’s biggest aluminium producers. – more

     Philippines’ Duterte orders reforestation, threatens open pit mining ban – Philippines President Rodrigo Duterte on Monday ordered mining companies to conduct tree planting projects and threatened to ban all open pit mining next year. – more

     Vale to focus on cost efficiency amid nickel price volatility – Expecting to deal with another turbulent year, major nickel miner PT Vale Indonesia is seeking to push for cost-efficiency measures and increase its production target slightly this year. – more

      Dangerous pollution spike at Kola nickel plant draws fine, despite promised improvements – Russia’s environmental oversight agency has said it will fine a nickel smelting and refining company in Northwest Russia after it produced a smog bank whose dangerous chemical content exceeded national legal limits by eight times. – more

      Fire at New Caledonia nickel plant investigated – The fire at one of the plant’s two furnaces broke out just before midnight on Friday but according to the company it was contained within an hour. – more

     Ukraine’s imports of nickel ore down 14% on year in Q1 – Ukraine’s imports of nickel ore and concentrate fell 14% year-on-year to 309,420 mt in January-March from 357,720 mt in January-March 2017, the state customs service reported Friday. – more

      Sumitomo Metal Mining’s FY2018 Plan for Nickel Production = Production of Fe-Ni decreases to 12,400 tons, but production of electrolytic Ni increases to 64,900 tons = According to the summary of the plan for metal production Sumitomo Metal Mining Co., Ltd. released on April 2, the Company’s production volume of ferro-nickel (in pure Ni equivalent) planned for the fiscal year 2018 (April 2018 – March 2019) is 12,400 tons (6,300 tons in the former half and 6,100 tons in the latter half). – more

      Three firms make offers for Tati Nickel – TNMC liquidator, Nigel Dixon-Warren has in recent months been trying to sell the Mine to no avail. Prospective buyers have in the past either pulled out before sale negotiations could take off or failed to put convincing offers to buy the Mine, which closed in October 2016. – more

     Long mine closure forces Nickel West’s hand – The concentrator had already been hit by the mothballing of a string of nickel mines across 2015 and 2016 as the metal’s price collapsed to decade-long lows, triggering a major economic slump in the Goldfields town, 50km south of Kalgoorlie-Boulder. – more

      Miners want incentives for processing not levies – Mining firms want Government to offer beneficiation incentives to fast track economic turnaround through rapid value addition of minerals, stimulation of industrialisation, increased revenue, more jobs, skills promotion and technology transfer. – more

      Press Release – For the month of April 2018, North American Stainless will reduce the fuel surcharge to 24% for stainless flat and long products. The surcharge rate is considered a maximum level for April and will be reviewed monthly. – source

     Prospect of growth intensifies debate about PolyMet tailings dam – Questions over whether the state is demanding the highest possible environmental and safety standards in the rebirth of a 1950s-era tailings dam are growing more urgent just as Minnesota’s first proposed copper nickel mine is reaching the final stage of regulatory approval. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Thursday, April 5

• Three month nickel closed Wednesday’s trading session at $5.97/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.09/lb higher, Stockpiles of nickel stored in LME approved warehouses slipped on Wednesday and now total just over the 318,400 tonne level. After falling sharply yesterday, nickel is in recovery mood today, with business media reporting traders are becoming more convinced the US and China will divert a full fledged trade war. China caught the market off guard yesterday, when after the Trump administration announced there would be another $50 billion dollars worth of import tariff’s put on Chinese products, China immediately responded, publishing a list of tariff’s it would reprise with. The immediacy of the response from China showed the world, and hopefully President Trump, that having been invited to the game, it is prepared and equipped to play ball. Chinese markets are closed for their annual Ching Ming Festival today and tomorrow, so unless we see a Tweet storm come out of DC, market nervousness should subside for the next few days. We show minor resistance at $6.31/lb, although $6.00/lb seems to be putting up a psychological barrier. Support at $5.83/lb. This is our last update for the week, so we wish our readers a safe and relaxing weekend and invite you back next week.
• Average price of cash nickel so far this month – $6.04/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Copper climbs 1 pct as U.S.-China trade fears ease – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• AISI Says Import Permits Surge Nearly 42 Percent in March – more
• Stocks Rebound Globally as Trade-War Anxiety Eases: Markets Wrap – more

     Wednesday’s market review – not published

     Who’s Hoarding All the Nickel? – The mass roll-out of electric vehicles may still be years away, but there are signs the nickel industry is already preparing for a surge in demand. – more

     ‘Deep will be the new norm’ – Glencore spends $1B to find new ore beneath Sudbury – Glencore is spending nearly $1 billion to mine new ore underneath Sudbury. The Onaping Depth project was announced at the same time as Vale revealed plans to go ahead with its multi-million dollar expansion of Copper Cliff Mine, also known as “Copper Cliff Deep.” – more

     BHP to open a mine of information for Unearthed – Resources technology hackathon Unearthed Perth 2018 will mark the fifth anniversary of the inaugural event this month. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Wednesday, April 4

• Three month nickel closed Tuesday’s trading session at $6.11/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.18/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and started today’s session just over the the 318,700 tonne level. Whatever triggered the bulls to buy yesterday, has evaporated and now there is a sudden rush for the exits. Nickel is down sharply this morning and the psychologically important $13,000/tonne level is in danger of being breached. At the moment, nickel is down nearly 3%. The stainless steel index in China slipped another 1/2 of 1% since last week, and steel rebar futures continue their slide. The Euro/US Dollar continue to trade in a tight channel that has been in place since March 1st. China issued a list of item’s it says it will add import tariff’s to, should President Trump go thru with his threat of adding another $50 billion worth of import tariff’s. China has also retaliated for Trump’s $3 billion worth of import tariff’s on steel and aluminum.
• Average price of cash nickel so far this month – $6.15/lb
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Base metals fall as U.S-China trade row escalates – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Trump Wanted a Trade War. Here’s What One Looks Like – more
• St Barbara backs Duketon Mining with $4m injection – more
• Specter of Full Trade War Returns to Roil Stocks: Markets Wrap – more

     Tuesday’s market review – Copper hits one-week high, shrugs off trade dispute – Copper prices touched one-week highs on Tuesday as investors bought on expectations the escalating trade dispute between China and the United States would not undermine flows of metal. – more

     Damp squib or next commodity super-cycle? The Belt and Road dilemma: Russell – China’s Belt and Road Initiative is one of those rare things that virtually everybody seems to have heard about, but equally, very few people can actually claim to have a detailed understanding of what it means. – more

     Is there an electric accelerator to falling nickel stocks? Andy Home – Stocks of nickel held in London Metal Exchange (LME) warehouses fell by 46,344 tonnes, or 12.6 percent, over the first quarter. – more  (regular readers may remember we covered this a few weeks ago)

• Will there be enough nickel to support the EV hype? – video here

     Nickel reserves in Murmansk Region’s mine sufficient for decades to go – The Severny mine, the main supplier of raw material to the Kola MMC (part of Norilsk Nickel), will be developed until 2060, the Kola MMC’s Deputy Director General Konstantin Nesterov told TASS. – more

     Nickel Energizing Batteries – Concern over climate change, the drive towards energy efficiency and the adoption of carbon dioxide emissions targets by governments are all helping to increase interest in renewable energy technologies involving batteries and energy storage. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Tuesday, April 3

• Three month nickel closed Thursday’s trading session at $6.03/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell over the London break and start the shortened week just under the 320,300 tonne level. Traders have returned to the trading floors in an optimistic mood, and taking advantage of a lower US Dollar. At least for now, the market appears not to be concerned about China’s response to President Trump’s steel and aluminum tariff’s, nor their promise to respond accordingly to his threats of billions of dollars more in import tariff’s. Not yet a war, but the lines have been drawn and initial shots have been exchanged. It’s a new week (for many of you), and new month, and a new quarter. Nickel ended Dec 2017 at $12,760/tonne ($5.79/lb) and March 2018 at $13,300/tonne ($6.03/lb). The bullish run that began in nickel on December 21st, 2016 has stalled since February 1st of this year, but long term technicals and fundamentals remain positive. While there is still a lot of inventory sitting in LME warehouses, the rate of decline has become more than noticeable, and with no new large mines due to come on line anytime soon, we could be seeing some supply concerns manifest as early as 2020. We don’t think it will come to that, but the nickel market, like most commodity markets, goes thru its supply shifts, and we have been in an oversupply situation so long, its hard to see days like those just a decade ago, when LME warehouses held less than 5,000 tonnes of nickel in reserve, and nickel sold for over $20/lb for a period.  
• Average price of cash nickel so far this month – N/A
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning – Copper hits one-week high, shrugs off trade dispute – more
• Reuters Daily Inside Metals – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Tropical Cyclone puts Asian steelmakers on alert – more
• China to Respond to New U.S. Duties With ‘Same Scale, Intensity’ – more
• U.S. Stock Futures Climb as Turmoil Starts to Ease: Markets Wrap – more

     Monday’s market review – N/A

      PHL’s 2nd-largest nickel producer to ship 2WMT to China Baowu unit – Global Ferronickel Holdings Inc. , the country’s second-largest nickel producer, said it eyes to ship 2 million wet metric tons (WMT) of nickel ore to a subsidiary of China’s largest steel manufacturer China Baowu Steel Group this year. – more

     Mining rally running out of steam as copper price weighs – Expectations of a boom in demand for battery raw materials as automakers move away from internal combustion engines kept cobalt and nickel prices on the boil during the first quarter. – more

     India’s Export Result of HC Ferro-chrome in January 2018 = 62,249 tons, down by 15% from prior month = According to the foreign trade statistics of India, the export volume of high-carbon ferro-chrome in January 2018 was 62,249 tons (material quantity), down by 15.2% from 73,412 tons in the prior month. – more

      Section 232 Action Creates Ripples Throughout Stainless Steel Markets – Divergent trends have emerged, in worldwide stainless steel markets, in the wake of the United States government’s Section 232 deliberations. – more

     Shipping Q1: Asia Pacific dry freight market stutters after promising start – The story of the Asia Pacific dry bulk markets for 2018 has been that of a promising start, but a shaky entry into the second quarter and a hopeful medium term, based on the trends that emerged from Q1. – more

     Noront smelter ‘unique opportunity’ – Greater Sudbury has the opportunity to capitalize on 120 years of mining leadership and success and to ensure a prosperous 150-plus years of future with its invitation to Noront Resources to build its ferrochrome production facility in our community. – more

     Courtesy AISI – In the week ending on March 31, 2018, domestic raw steel production was 1,776,000 net tons while the capability utilization rate was 76.2 percent. Production was 1,716,000 net tons in the week ending March 31, 2017 while the capability utilization then was 73.6 percent. The current week production represents a 3.5 percent increase from the same period in the previous year. Production for the week ending March 31, 2018 is down 1.5 percent from the previous week ending March 24, 2018 when production was 1,803,000 net tons and the rate of capability utilization was 77.4 percent. – more

     Nickel in Electronics – Nickel-containing materials form the basis of some key components in the electronics industry. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

Monday, April 2

• Three month nickel closed Thursday’s trading session at $6.03/lb . Indicators at 6:30 am CST today show 3 month nickel unchanged with LME markets closed for a four day Easter break. Markets closed Thursday above the $6.00/lb level. Stockpiles fell on Thursday and ended the first quarter of 2018 just under the 320,600 tonne level. Nickel ended the month on a positive note and it will be interesting to see how they will react to China’s new import tariff’s tomorrow. Based on overnight trading in Shanghai, it will have little effect, and with the US Dollar lower, it could send a positive trading signal. Shanghai Metals Market reports “Of the five key Shanghai base metals, only nickel rose in the first quarter, while copper and aluminium posted double-digit losses.” China’s new tariff’s are in response to similar action President Trump took earlier in March, and with his threat there would be more, the potential for a trade war is increasing. This would typically be bad for metals, but we will have to wait and see if the sabre rattling will end soon.  Unless Twitter shuts down, we don’t see that happening anytime soon. US stainless steel producers milked that nickel price as long as they could in March, and finally issued surcharges for April (here). It appears Allegheny quietly joined with AK Steel and now show a monthly charge for ‘electrodes’.
• Average price of cash nickel so far this month – $6.08/lb (March ending)
• Average price of LME traded nickel in 2017 – $4.73/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb

  Reports

• Reuters metals morning –  Shanghai metals start Q2 with gains on weaker dollar – more
• Reuters Daily Inside Metals – not available today

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Baltic Dry Index – (chart)
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (Reuters) Nickel was the only one among the five key Shanghai base metals set to end the quarter higher. It gained 1.6 percent over the three months and tracked the ferrous complex higher with a 2.6 percent jump on Friday. Nickel is used to make stainless steel.
• (SO) China’s steel sector PMI increases to 50.6 percent in March
• U.S. Stock Futures Fall After Asia Rally Fizzles: Markets Wrap – more
• Rising Rates Sounding Alarm Bells for Debt-Laden U.S. Consumers – more

     Thursday’s market review – Copper recovers as trade fears recede, aluminium hits near 8-month low – Copper rose on Thursday on receding fears about a trade war but ended the quarter down 7 percent, while aluminium hit a near 8 month low on rising stocks and disappointment over China’s winter output curbs. – more

     Merafe Press Release – Ferrochrome price announcement second quarter 2018 – Shareholders of the Company are advised that the European benchmark  ferrochrome price has been settled at USD142 cents per pound for the second quarter of 2018, an increase of 20.3% from the USD118 cents per pound price in the first quarter of 2018. – source

     Chinese steel mills’ April ferrochrome tender prices plunge: sources – The April ferrochrome tender purchasing price for three major Chinese stainless steel mills — Baosteel, Tsingshan Holdings and Taiyuan Iron & Steel Co. (Tisco) — dived Yuan 500/mt month on month, sources said Friday. – more

     Of all things molybdenum could crash cobalt, nickel price party – Cobalt’s rise to six-digit territory seems inexorable as the hype around electric vehicle demand for battery materials shows no signs of cooling. – more

     China metals group eyeing new counter-measures in U.S. trade row – The Chinese industry body which recommended targeting scrap aluminium in retaliatory trade action against the United States is already exploring what other measures could be taken, an official said on Monday. – more

     Antam granted additional export permit for nickel, bauxite – State-owned diversified miner PT Aneka Tambang (Antam) has obtained a new recommendation for nickel and bauxite exports in line with its plans to boost production and sales of the commodities this year. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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 news and information free of charge. Contact us

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