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

  Daily Nickel/Stainless Steel Briefing (8:00 AM CST is 1PM in London)

  • Nickel was untraded on Monday as the LME was closed for a holiday. Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses rose over the weekend, and now total just under 115,250 tonnes. Global slowdown fears are top topic today as Japan lowers its growth forecasts and Spain reports its recession is getting worse. Markets are watching the meeting in Jackson Hole, Wyoming closely although ECB President Mario Draghi’s cancellation has lowered expectations.
  • Baltic Dry Index – (current) (chart)
  • Dollar trading graph – (chart of dollar index) (live java chart)
  • Reuters metals morning – Copper drops on economy fears; central bank action eyed – more
  • LME Morning – Base metals soften due to profit-taking – 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  

  Commodity/Economic Comments

  • China E-Stainless Steel Daily Price Index – 92.10
  • China Stainless Steel Scrap Market News / Price – more
  • Yieh Daily Asian Stainless Steel News – more
  • European Debt Crisis Live – more
  • (SA) According to SpetsStal’s estimate, stainless steel imports to Russia in 1H 2012, compared to the equal period of 2011, decreased 6.6% to 106.2 thousand tons.
  • (FAN) U.S. distributors’ shipments of stainless steel sank to their lowest level this year in July, historically a slow month due to summer vacations and shutdowns.
  • (FAN) It is reported that ThyssenKrupp AG plans to sell its Alabama and Brazilian mills separately for at least the book value, which is about USD 8.8 billion combined.
  • Toledo see benefits from Berong nickel mine – more
  • Close of Glencore-Viterra deal delayed – more
  • China Set for Record Crude Steel Output in 2013  – more
  • (China) Slowdown takes toll on industrial profits – more
  • El Niño edges closer – more

  China’s MMG Sees Mining Boom Shifting Gear – Chinese mining group MMG on Tuesday said the era of sharply increasing metals prices had passed, but predicted activity in China would pick up after the leadership transition in Beijing. – more

  Japan Crude SUS Production Declines 2% – First Half 2012 = 1,769,969 tons; fairly high output only in April otherwise sunken below 300,000-ton-per-month level = Crude stainless steel production during the first half (January – June) of 2012 by the 7 major Japanese stainless steel mills was 1,769,969 tons, down 2.3% from 1,812,483 tons produced during the same period of 2012. Details are as per the table attached hereto. – more

   Lundin restarts production from Aguablanca mine – Canadian base metal miner Lundin Mining Corp said on Monday it has restarted production from Aguablanca, nearly two years after heavy rains caused a landslide at the nickel-copper mine in Spain. – more

  BHP takes razor to WA nickel – BHP Billiton will scour its WA nickel operations for more savings in an attempt to wait out sharp falls in commodity prices, after the sale of its Yeelirrie uranium deposit raised fresh questions about its commitment to its marginal WA operations. – more

  Russian President Vladimir Putin Hailed Valiant Work of MMC Norilsk Nickel Miners – On the eve of Miner’s Day, Honored Miner of Russian Federation title was conferred on four employees of OJSC MMC Norilsk Nickel (hereinafter – the Company). Corresponding decree was signed by Russian President Vladimir Putin on July 12. – more

  Valley of the Dinosaurs no more – President Vladimir Putin’s comments about warring shareholders at Norilsk Nickel last week may have surprised some. – more

  Courtesy AISI – In the week ending August 26, 2012, domestic raw steel production was 1,863,000 net tons while the capability utilization rate was 75.4 percent. Production was 1,851,000 tons in the week ending August 26, 2011, while the capability utilization then was 75.7 percent. The current week production represents a 0.6 percent increase from the same period in the previous year. Production for the week ending August 26, 2012 is down 0.7 percent from the previous week ending August 18, 2012 when production was 1,876,000 tons and the rate of capability utilization was 75.9 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
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