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

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Friday, July 31

• Three month nickel closed Wednesday’s trading session at $4.96/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading   . Stockpiles of nickel stored in LME approved warehouses threw the market a curve ball this week, and after looking to fall for a second month, a large two day gain on Tuesday and Wednesday added 8,418 tonnes, and erased all earlier losses for the month. A small drop yesterday brings totals to just under 460,100 tonnes. News remains light and that typically doesn’t change until late August. Have a safe and relaxing weekend.   
• Average price of cash nickel so far this month – $5.17/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper drops on China worries, faces 9 pct July loss – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (MBN) Brazil’s Vale expects nickel prices to rebound in the second half of 2015, as the market has shown some signs of improvement during the quarter ended June 30.

    Philippines to mine nickel until year end with help from El Nino – Philippine nickel miners, hit by a slump in prices, may have found an unexpected ally in the El Nino. – more

    Russia’s Norilsk Nickel says Q2 nickel output at 64,000 tonnes – Russia’s Norilsk Nickel , one of the world’s largest nickel and palladium producers, said on Friday its second-quarter nickel output was at around 64,000 tonnes and its palladium production at 726,000 troy ounces. – more

    Vale Workers Accuse Company of Ignoring Safety – Some workers at the Vale site in Long Harbour say their workplace safety concerns are being ignored. – 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, July 29

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

• Three month nickel closed Tuesday’s trading session at $5.12/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.06/lb lower, with other London traded base metals trading mostly lower. Stockpiles of nickel are the story today, with a Tuesday gain of 5,310 tonnes, July might actually end with a monthly gain. With just a few days left in the month, stockpiles total just under the 457,900 tonne level, nearly 1400 tonnes higher than the month started at. Nickel mines are announcing closures and cut backs, which should add support to pricing – someday.
• Average price of cash nickel so far this month – $5.20/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper rallies alongside Chinese equities – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• List of world’s top ten steel producers in June ’15 – more

    Australia’s Mincor slashes nickel output amid prices near 6-yr lows – Australian nickel miner Mincor Resources said on Wednesday it will reduce production by up to 56 percent over the six months to end-December due to persistent low nickel prices that have left its operating levels unsustainable. – more

    Canadian miner Sherritt posts wider loss as nickel prices drop – Canadian miner Sherritt International Corp reported a bigger loss for the second quarter, hurt by lower nickel prices. – more

    Philippines’ Global Ferronickel waits for prices to recover before share sale – Global Ferronickel Holdings Inc , the Philippines’ No. 3 nickel producer by output, said on Wednesday it would pursue a planned follow-on share sale this year if the stock price more than doubles by October. – more

    Courtesy AISI – In the week ending July 25, 2015, domestic raw steel production was 1,740,000 net tons while the capability utilization rate was 72.8 percent. Production was 1,914,000 net tons in the week ending July 25, 2014 while the capability utilization then was 79.6 percent. The current week production represents a 9.1 percent decrease from the same period in the previous year. Production for the week ending July 25, 2015 is down 0.7 percent from the previous week ending July 18, 2015 when production was 1,753,000 net tons and the rate of capability utilization was 73.3 percent.

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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, July 28

• Three month nickel closed Monday’s trading session at $4.98/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.11/lb higher, with other London traded base metals trading higher this morning. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just under the 452,600 tonne level. China stocks continued to fall last night, but the rout factor disappeared and that is sending a positive signal to western markets. European markets are trading higher this morning, as are US futures. Nickel, which fell below $5/lb yesterday, is bouncing hard this morning, with support at $10,900 holding. Market news, which is typically light during the month of August, has already started drying up.  
• Average price of cash nickel so far this month – $5.20/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper rises as Beijing reaffirms support for shares – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SSY) US steel imports fell to an 18-month low of 2.8 Mt in June, down 16% year-on-year, according to preliminary trade data from the US Census Bureau. Nevertheless, steel imports in the 1h15 were still up 2% on the same six months in 2014 at 19.5 Mt.
• (FAN) Russian imports of stainless steel products in June this year increased by 22.1 percent month on month to 21,092 mt.

    Nickel imports in China nab a massive increase – China’s imports of refined nickel increased by a staggering 250% in June to 38,545 mt compared to 11,014 mt in June 2014. – more

    Chinese steel juggernaut slows but not fast enough: Andy Home – Chinese steel output fell by 1.3 percent in the first half of the year. This is self-evidently not good news for the iron ore market, given China is the single biggest buyer of seaborne ore. – more

    Nunavik nickel firm wants to nearly double Raglan’s lifespan – The operators of Nunavik’s Raglan nickel mine hope to expand its lifespan well beyond 2019, with the addition of five new underground mines across the region’s nickel belt. – more

    Unpacking the secrets of South Africa’s dolerite sills – The exploitation of mineral deposits always creates debates around economic necessity versus environmental preservation. – 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, July 27

• Three month nickel closed Thursday’s trading session at $5.14/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.13/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses rose on Friday and ended the week just over the 453,400 tonne level. Shanghai Metals Market is reporting no change in nickel ore stockpiles at six major Chinese ports, with a second week report of 10.67 million tonnes. When you wake up to a headline that the Shanghai Composite Index dropped 8-1/2% overnight, you just know its going to be a difficult day for commodities. And nickel appears to be suffering more than most, down over 2-1/2% at the moment and knocking on the $4/lb range again.
• Average price of cash nickel so far this month – $5.21/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper languishes near 6-year low on demand concerns – more

  Reports

• U.S. Imports of Stainless Steel Mill Products – more
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Haywood Weekly Dig – pdf here
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• China June industrial profits fall 0.3 percent year on year – more
• China Stocks Sink Most Since 2007 as State-Induced Calm Shatters – more
• Shanghai ends at 2-week low in biggest daily drop in 8 years, Shenzhen and Hong Kong tumble – more
• U.S. Fastener Imports and Exports Continue to Decline in May – more

    The nickel price can only go up – It’s a strange time to be in mining. Irrational exuberance has been replaced by irrational despondency. – more

    Botswana Metals starts exploration for nickel sulphides – Botswana Metals recently raised funds and is now ready to explore its wholly-owned prospecting licence PL 59/2008 in Botswana. – more

     Nickel Magazine – Current Issue Volume 30-2: 30th anniversary issue – 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

Friday, July 24

• Three month nickel closed Thursday’s trading session at $5.18/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 453,300 tonne level. An economic gauge from China is sending traders a warning sign of weakening factory production, and metals are paying the price. The market is in serious danger of falling below the $5/lb level again. Have a safe and enjoyable weekend.
• Average price of cash nickel so far this month – $5.22/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper tumbles to six-year low on worries about Chinese demand – more

  Reports

• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SMM) Nickel prices are expected to fall further next week, with LME nickel trading at $ 11,000-11,500 per tonne, SMM predicts.
• Chinese Factory Gauge Weakens in Threat to Economic Recovery – more

    Metals hit multi-year lows on global growth concerns, dollar rises – Metal prices hit multi-year lows on Friday after weaker-than-expected data from China and the euro zone raised concerns about global growth, but the U.S. dollar rose as a Federal Reserve rate hike was still on the table. – more

    China stockpiler likely to buy nickel on low global prices: Sources – China’s commodity stockpiler is likely to buy refined nickel as it takes advantage of lower prices of the metal, but the impact on global benchmark rates is likely to be muted in the near term given ample world supplies, industry sources said on Thursday. – more

    Vale’s nickel IPO chances fade as production disappoints again – Vale missed production estimates for nickel for a second consecutive quarter, coming as a plunge in metal prices makes the company’s plan to sell as much as 30% of the nickel unit in an IPO less likely. – more

    The Good And The Bad At Poseidon Nickel: The Reserves Look Good, But The Production Start Is Being Delayed – Poseidon Nickel has released two reserve estimates on both Mt Windarra and Lake Johnston as part of a new mine plan. – 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, July 23

• Three month nickel closed Wednesday’s trading session at $5.20/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading mixed and very quiet. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 453,750 tonne level. The Euro is trading higher this morning but nickel can’t seem to find the gas pedal. Typically, when rumors start swirling that China is secretly stockpiling nickel, traders take the price of nickel higher. This time they appear to be wary about possibly scaring any potential Chinese sources off, and the falling price makes any possible stockpiling a even more lucrative exercise. Based on LME warehouse numbers, the world is fairly close to balance in supply and demand and with record stockpiles already built up around the world, more stockpiling does nothing but skew the statistics.
• Average price of cash nickel so far this month – $5.23/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper edges higher on weaker dollar, still vulnerable – more

  Reports

• June 2015 crude steel production – pdf here
• Metals & Manufacturing Outlook – July 2015 – more
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• China’s rising commodity exports changing nature of trade: Russell – more

    Nickel bucks the trend of slower Chinese metal imports: Andy Home – China’s pull on refined metal from the rest of the world was much diminished in the first half of this year. – more

    Nickel imports in China nab a massive increase – China’s imports of refined nickel increased by a staggering 250% in June to 38,545 mt compared to 11,014 mt in June 2014. – more

    Global Nickel market records surplus during Jan-May ’15 – The global nickel production exceeded apparent demand during the initial five-month period of the year. – more

    China stockpiler likely to buy nickel on low global prices: Sources – China’s commodity stockpiler is likely to buy refined nickel as it takes advantage of lower prices of the metal, but the impact on global benchmark rates is likely to be muted in the near term given ample world supplies, industry sources said on Thursday. – more

    Global nickel glut seen persisting as Sumitomo Metal shifts – Japan’s biggest nickel producer reversed its outlook for the global market to predict another surplus as demand growth slows in China. – more

    First Quantum Minerals to restart Ravensthorpe nickel mine after 2014 shutdown – The operator of the Ravensthorpe nickel mine says it is in the process of restarting the mine on Western Australia’s south coast. – more

     Philippines – Liquefaction of Nickel Ore from Surigao – Earlier this month a supramax bulk carrier sailed for Lianyungang, China after loading a cargo of nickel ore at Surigao, Philippines. – 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, July 22

• Three month nickel closed Tuesday’s trading session at $5.30/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just over the 453,800 tonne level. Nickel was trading strong yesterday until US equity markets opened sharply lower, and this dragged nickel lower to a break even day. The Euro is trading lower this morning, and European markets are trading lower as well.  US futures are lower at the moment, and base metals are not bucking the pessimistic trend. At least not yet.
• Average price of cash nickel so far this month – $5.23/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper hits two-week low as Chinese demand struggles – more

  Reports

• The May 2015 Casteel Reporter – pdf here
• Reuters Metals Insider – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SMM) Inbound shipments of refined nickel to China surged in June, according to China Customs. Imports surged to 38,759 tonnes in June, up from 23, 476 tonnes in May, according to the data.

    Worst is over for base metals firms – Prices of base metals have seen some recovery in the past week, after most of these visited their two-six year lows, following the Greece crisis and sharp fall in the Chinese equity market. – more

    Australia’s South32 nickel output falls below guidance – Australia’s South32 said on Wednesday it missed June quarter nickel production guidance due to labour unrest at its Cerro Matoso mine in Colombia and a drop in ore grades. – more

    Mwana Africa’s nickel arm hits production record – The Trojan mine produced 7,306 tonnes (7,129) in the year to March generating US$78.9mln in revenues. – 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, July 21

• Three month nickel closed Monday’s trading session at $5.30/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.08/lb higher, with other London traded base metals trading mostly higher and much quieter than nickel. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now totals just under the 453,600 tonne level. Rumors that China is stockpiling nickel has caught traders interest and import numbers of refined nickel recently has added evidence to the rumors. Considering China is very dependent on foreign sources for its nickel, it makes sense that China would be taking advantage of low market prices to build up their stockpiles. How much this will boost current prices remains to be seen.  
• Average price of cash nickel so far this month – $5.22/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London nickel jumps after China boosts imports – more

  Reports

• Oryx Stainless – It’s enough to drive one up the wall – pdf here
• Reuters Metals Insider – pdf here
• Commonwealth Daily Alert – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Four Signs of Pain in Commodities – more
• (SMM) The rumors of nickel stockpiling by China’s State Reserve Bureau drove the September-delivery contract up to close at 87,870 yuan per tonne Jul. 21, a gain of 3.25%
• (SSY) Crude steel output at China Iron and Steel Association member mills continued to decline in the first 10 days of July, dropping to its lowest level since early April at 1.705 Mt/day, according to data from the industry association reported by U-metal. This is down from 1.735 Mt/day in the preceding ten days and compares with 1.814 Mt/day for the same period in 2014.
• Grijalva’s Save Oak Flat Bill Boosted by Historic Preservation Listing – more
• El Niño continues to strengthen – more

    Chinese Nickel Imports Jump to 6-Year High as Shortage Looms – China imported the most refined nickel in six years in a further sign that the world’s biggest consumer is drawing on global supply. Futures rose 2.4 percent in London. – more

    BMO Sees Long-term Potential for ‘Strong’ Nickel Price Recovery – BMO Capital Markets recently released its Q3 2015 Commodity Canvas report, and though it has revised down its medium-term forecast for nickel, longer term it anticipates “a strong price recovery if/when the market moves back to ‘risk on’ mode.” – more

    Steel trading companies struggle as downturn persists into fourth year – Times used to be good for China’s steel traders. The country’s economy was booming. – more

    Zimbabwe nickel firm lifts output – Zimbabwe’s Bindura Nickel Corporation said on Tuesday it had increased its full-year nickel production by 3 percent to a record 7 306 tons, while revenue was boosted by higher prices of the metal. – more

    Courtesy AISI – In the week ending July 18, 2015, domestic raw steel production was 1,753,000 net tons while the capability utilization rate was 73.3 percent. Production was 1,914,000 net tons in the week ending July 18, 2014 while the capability utilization then was 79.6 percent. The current week production represents a 8.4 percent decrease from the same period in the previous year. Production for the week ending July 18, 2015 is up 0.7 percent from the previous week ending July 11, 2015 when production was 1,740,000 net tons and the rate of capability utilization was 72.8 percent.

  Morning Nickel Price Statistics & Figures

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

• Three month nickel closed Friday’s trading session at $5.20/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME approved inventories fell on Friday and now total just over the 453,300 tonne level. Shanghai Metals Market reports nickel ore inventories at six major Chinese ports grew by 20,000 tonne last week and now total 10.68 million tonnes. The Euro is trading lower against the US Dollar and this is adding negative pressure on base metals trading.
• Average price of cash nickel so far this month – $5.22/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper slinks back towards six-year lows – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• The Case for Zinc and Nickel Stocks to Rebound Soon – more

    Shipments Recover Slightly in June  – U.S. shipments of steel products decreased only moderately in June and aluminum shipments increased. Canadian results recovered last month, with small increases in both steel and aluminum shipments. – more

    Chief mate dies as bulker lists while transporting nickel ore – The chief mate of a bulker has died after it listed while shipping nickel ore from the Philippines. – more

• One dead, 20 rescued from listing cargo vessel – At least one crew member was reported dead while 20 others were rescued on Friday, after a Malaysian cargo vessel experienced severe listing at sea while en route from Loreto Dinagat, the Philippines to Lianyungang, China. – more
• UK P&I cautions on nickel ore liquefaction  – The UK P&I Club has issued an advisory about the liquefaction risks of nickel ore cargos, after a bulker belonging to one of its members listed on 15 July. – more

    Global miners face succession crisis as old guard nears retirement – As if slumping commodity prices and unhappy shareholders were not enough, global mining companies are also facing a looming succession crisis. – more

    IMOA demonstrates the far-reaching sustainability benefits of molybdenum – Today, IMOA has published a new brochure exploring the wide contribution molybdenum makes to sustainable development. ‘A Sustainable World with Molybdenum’ showcases examples of how molybdenum’s unique properties are being harnessed to generate a wide range of sustainable benefits in many sectors. – 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

Friday, July 17

• Three month nickel closed Thursday’s trading session at $5.25/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.04/lb lower, with other London traded base metals trading mostly higher, albeit quietly. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and now total just over the 454,050 tonne level. Nickel’s bounce off its 6 year lows is showing signs of losing gas, and while we do not believe nickel will fall into the $4/lb range again, we have been wrong many times before. Have a safe and relaxing weekend.
• Average price of cash nickel so far this month – $5.22/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper slides, China demand worries dominate sentiment – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (MM) Nickel is in free-fall as shortage expectations faded. The long-term outlook remains bearish, especially while the rest of base metals keep falling.

    Assumptions On Ore Ban Relaxation In Indonesia Alerts Banks – Speculations on possible nickel ore ban leeway pull nickel prices down anew, leaving international creditors anxious over the base metal’s continuously blurring future. – more

    U.S. approves continued probe against steel products from China – The U.S. International Trade Commission (USITC) Thursday approved continued anti-dumping and countervailing duties investigations against imports of corrosion-resistant steel products from the Chinese mainland. Similar action was taken against India, Italy, South Korea and Taiwan. – more

    Vietnam’s only nickel mine hit by $55mln loss after 2 years: report – Vietnam’s only facility for mining and processing nickel has incurred losses of around US$55 million since it started operating in 2013, according to the Ministry of Finance, which plans to keep the royalty on the mineral unchanged. – more

    Sirius Resources’ flagship Nova project ahead of schedule, set for early production – Mine development at Sirius Resources’ flagship Nova project is racing ahead of schedule, presenting the nickel hopeful with the opportunity to ramp up the mine’s production to its full capacity 12 months sooner than planned. – more

    Lake Johnston startup delayed in anticipation of higher nickel price – ASX-listed Poseidon Nickel has delayed the formal opening of its Lake Johnston project in the hopes of a higher nickel price. – more

    Mining company could lose lease if it fails to finalise Avebury nickel mine sale – The Tasmanian Opposition is suggesting a mining company should be stripped of its lease if it fails to finalise the sale of the Avebury nickel mine soon. – more

    LME may have to curb price volatility in line with peers – The London Metal Exchange may have to introduce rules to rein in extreme volatility to conform with other exchanges and regulatory regimes, industry sources said. – 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, July 16

• Three month nickel closed Wednesday’s trading session at $5.21/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.04/lb higher, with other London traded base metals trading mixed and quietly. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total over 452,800. The Euro continues to fall against the US Dollar, and this is putting negative pressure on commodities, but nickel is positive for the day so far.
• Average price of cash nickel so far this month – $5.23/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper rises after Greek vote, capped by firmer dollar – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SMM) Nickel market is expected to trade widely for the foreseeable future, Shanghai Metals Market’s interview finds.
• What is in Store for Industrial Metal ETFs After China Rout? – ETF News And Commentary – more
• (SSY) Chinese crude steel output fell 0.8% year-on-year in June to 69.0 Mt, according to official data. Nevertheless, steel production for the 1h15 was still up 1.3% on the same six months in 2014 at 410.0 Mt.

    China’s cost-conscious steel mills tempted by lower cost refined nickel – China’s stainless steel mills may use more refined nickel as prices of the steel-making ingredient fall below the cost of nickel pig iron, but traders play down the prospect of any spike in refined nickel demand as mills shut for seasonal maintenance. – more

    Contract Price of LC FeCr in Jul-Sept US Cents 207 – 209 = Price remains unchanged from prior period due to demand and Supply being balanced = The price of low-carbon ferro-chrome for the period during July to September in 2015 Japanese stainless steel mills negotiated with overseas ferroalloy producers has been settled at US Cents 207 – 209 per lb. – more

    Prices for stainless steel products continue to decrease – In June 2015 the price situation on the domestic market was affected by a significant reduction in business activity. Solvent demand has decreased, while the volume of supply is still very high – more

    No joy for EU steelmakers from rising demand as imports bite – Eurofer – European economic growth is expected to power a 1.5 percent rise in EU steel demand this year but local producers will see little benefit due to rising imports, steel body Eurofer said on Thursday. – more

    Avebury buyer looms – Another buyer for the Avebury nickel mine has emerged. – more

    Poseidon shelves plans to restart Lake Johnston nickel mine in WA – Languishing nickel prices have forced Poseidon Nickel to shelve the restart of its Lake Johnston mine, west of Norseman in Western Australia. – more

• Poseidon shelves projects, cuts pay – more

    BCL smelter shuts down for refurbishment – The delay in the commencement of the shutdown was necessitated by the outstanding delivery of a vital material required for the process, especially items for the waste heat boiler that are being sourced from Europe. – 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, July 15

• Three month nickel closed Tuesday’s trading session at $5.26/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.09/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just under the 453,500 tonne level. China reported growth for the second quarter remained at 7%, taking analysts by surprise. Growth evidence from China is always good for commodities, and nickel is trading higher on the news. The Euro is lower, adding negative pressure.
• Average price of cash nickel so far this month – $5.22/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – London copper climbs after China growth beats forecasts – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• NFIB – The Index of Small Business Optimism dropped 4.2 points to 94.1 in June, well below the pre-recession average of 99.5 with nine of the ten components dropping and one remaining unchanged from May. – more
• China growth beats forecasts but stocks dive again – more

    Nickel’s fightback begins but obstacles loom – Prospects for tighter nickel supplies may have put a floor under prices but any real recovery will need Chinese stainless steel mills to step up their orders and global stockpiles to fall. – more

    Interview with Mr. Buffet, Chairman of ERAMET, France in Tokyo  – The press interview with Mr. Patrick Buffet, Chairman and Chief Executive Officer (CEO) of ERAMET, France who visited Japan was held at Hotel Okura on July 2. – more

    Russian export of stainless steel grew up in May, but volumes remain low – According to experts of the Spetsstal Association, the volume of Russian export of major products of stainless steel in May 2015 increased by 26.9%, compared to April, and amounted to 354 tons. – more

    CR Austenitic Stainless Prices in Asia Inevitable to Dip below $2,000 CFR – As the LME nickel price dipped below $5 per pound, customers appear to strengthen a wait-and-see attitude. – more

    Commodity market rout shows how Chinese growth determines prices – The recent global rout in commodity markets re-emphasised the relationship between Chinese growth and commodity prices. – 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, July 14

• Three month nickel closed Monday’s trading session at $5.22/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.01/lb lower, but trending higher, with other London trade base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 453,000 tonne level. Iran makes a nuclear deal the day after Greece makes a debt deal. Markets appear to be confused this morning, as is much of the world.  
• Average price of cash nickel so far this month – $5.22/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper falls on jitters over Greece bailout deal, weak oil – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• BNP Paribas lowered its 2015 nickel forecast to $12,875 per tonne on Monday
• (TNA) Iran’s Khouzestan Steel Company to hold intl. tender to buy nickel

    Industrial Metals Drop as China Growth May Be Slowest Since ’09 – Nickel led industrial metals lower before data on Wednesday that may show China’s economy expanded at the weakest pace since 2009. – more

    China’s copper, aluminum consumption expected to peak in 2022-25 – China’s consumption of refined copper and aluminum is expected to peak in 2022-2025 at 13 million-15 million mt/year and 27 million-29 million mt/year, respectively, and then remain at high levels, the China Mining Association said Tuesday. – more

    Lockerby Mine layoffs will continue – Good, solid contract language is helping miners laid off at First Nickel Inc.’s Lockerby Mine land on their feet, says the president of Mine Mill Local 598/Unifor. – more

    DNR gives details on PolyMet review process – The Minnesota Department of Natural Resources has provided new details on the tasks remaining in the PolyMet copper/nickel/precious metals Environmental Impact Statement process. – more

    Mindoro JV Completes One Shipment of Nickel Ore at the Agata Nickel Laterite Project in June 2015 –  Mindoro Resources Ltd., a joint venture company in which Mindoro holds a 40% direct and beneficial interest and TVI Resource Development, Inc. holds a 60% interest and is the operator, has completed one shipment of higher nickel grade saprolite ore during June 2015 for gross proceeds of US$1.83 million from the Agata nickel laterite project located in northern Mindanao, the Philippines.

    Courtesy AISI – In the week ending July 11, 2015, domestic raw steel production was 1,740,000 net tons while the capability utilization rate was 72.8 percent. Production was 1,914,000 net tons in the week ending July 11, 2014 while the capability utilization then was 79.6 percent. The current week production represents a 9.1 percent decrease from the same period in the previous year. Production for the week ending July 11, 2015 is up 3.3 percent from the previous week ending July 4, 2015 when production was 1,684,000 net tons and the rate of capability utilization was 71.2 percent.

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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, July 13

• Three month nickel closed Friday’s trading session at $5.10/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.15/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just under the 454,900 tonne level. Shanghai Metals Market is reporting stockpiles of nickel ore stockpiles at six major Chinese ports fell 420,000 tonnes to 10.66 million tonnes last week. Markets are all up this morning as traders put withdrawn money back into the markets. Greece and its creditors have finally came to an agreement and China markets continue to rebound.  Oh yeah, there are problems and plenty of them. But for today, good news grabs the headlines and markets are reaping the benefits.  
• Average price of cash nickel so far this month – $5.23/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper bounces after Greek deal, China data caps gains – more

  Reports

• The Dig – Haywood Mining Team’s week in review – pdf here
• Business risks in mining and metals 2015-2016 – more
• Reuters Metals Insider – pdf here
• Commonwealth Daily Alert – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SM) The US steel mill shipments increased slightly during the month of May this year when compared with the month before. However, over the previous year, the country’s steel shipments were down by nearly 15% in May ’15.
• China sees exports increase 2% in June, imports decline – more

    Slowing China, supply gluts limit upside for commodities in Q3 – A slowdown in China, a strong dollar and high inventories will limit the upside for commodity price performance in coming months, although leading fund managers still see pockets of value in areas such as refined oil products. – more

    Weak China economy becomes big drag on base metals counter – Irrespective of their fundamentals, all the base metals have been trading in the negative territory in the past couple of months. – more

    Lower prices cut Nickel Asia’s first-half export sales – First-half shipment of the country’s largest nickel miner rose by a quarter, but weak prices cut shipment value by a sixth. – more

    Ni SUS Scrap Purchase Price in July Starts with JPY138,000 – JPY148,000 = Due to cheap LME nickel price, and purchase price abroad also is down = The price for July purchase of nickel-containing stainless steel scrap (SABOT) by stainless steel mills in the Kanto area starts with JPY138,000 – JPY148,000 per ton (delivered at factory) which is down by JPY5,000 – JPY10,000 from June purchase price. – more

    Rocky road for nickel miner Western Areas – Nickel producer Western Areas was by far the most volatile S&P/ASX 200 commodities stock last week with a sharp drop in the nickel price between Monday and Thursday to below $11,000 per tonne levels prompting a substantial sell-off. – more

    Piketon Cleanup and Contaminated Remains of Huntington Plant – A remedial plan for decontamination and decommissioning of the Portsmouth Gaseous Diffusion Plant, includes potential unearthing and reburial of the contaminated Huntington Pilot Plant (Reduction Pilot Plant a.k.a. Nickel Powder Processing Plant) that arrived by truck from the INCO facility in Huntington, WV and in 1978-1979 was buried in a classified landfill on the PGDP property. – 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

Friday, July 10

• Three month nickel closed Thursday’s trading session at $5.21/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and now total just under the 456,400 tonne level. With China stocks on their second day of a record rebound, and world equity markets falling all over themselves trying to buy on hopes the Greece crisis will soon be over, it is somewhat confusing why base metals are not benefitting by this sudden euphoria. Nickel saw a good bounce yesterday, but is far from recovering early week losses, and is trading lower today. Are traders actually looking at fundamentals, which remain weak? We will see. Have a safe and relaxing weekend.
• Average price of cash nickel so far this month – $5.24/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper to close lower on week as China demand woes persist – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SSY) Daily crude steel output at China Iron and Steel Association (CISA) member mills fell to 1.74 Mt in the period 21-30 June, according to data from the industry association reported by U-metal. This is down from 1.76 Mt/day in the preceding ten days and compares with a year-ago level of 1.78 Mt/day.
• (MF) Taiwan’s Yusco, Tang Eng see demands picking up
• Chinese storm rocks London copper – more
• Iron ore prices jump 10% – more
• IMF lowers world growth forecasts, points to US weakness – more

    Lockerby Mine idles 26 employees – The Sudbury StarFirst Nickel Inc. is moving ahead with plans to stop production at Lockerby Mine in the next few months by issuing layoff notices to 26 unionized production and maintenance workers. – more

    San Miguel plants to cost it $2B – The San Miguel Group is investing over $2 billion to build a nickel processing plant and two cement factories as the conglomerate diversifies further into new growth areas. – more

    Stainless steel surface brief introduction – Stainless steel has its unique strength and high wear resistance and excellent anti-corrosion performance and other excellent characteristics, it’s not easy to rust, stainless steel widely used in chemical industry, food machinery, mechanical and electrical industry, household electrical appliances industry etc. – more

    Government to pass mining, petroleum bills in October – Madagascar’s parliament in May impeached the president, a move later overturned by the constitutional court, and nearly toppled the government in a censure vote earlier this month, ratcheting up tensions on the coup-prone nation. – 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, July 9

• Three month nickel closed Wednesday’s trading session at $4.96/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.13/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now totals just under te 457,250 tonne level. China markets made a big jump today, and base metals are playing ‘follow the leader’. Volatility is way up, so don’t get comfortable with the thought the worst is over. Nickel appears to have set a pretty good line of support the last few days, but technical signals have been wrong lately, so we wouldn’t recommend betting the bank on it. That said, it appears we might have seen a bottom to the bearish slide that started a year ago. Stay tuned.
• Average price of cash nickel so far this month – $5.26/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper gains on China equity rebound, but concerns persist – more

  Reports

• U.S. Exports of Stainless Steel Mill Products – more
• Reuters Metals Insider – pdf here
• Commonwealth Daily Alert – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here

    Could Nickel Really Fall Below $10,000 A Metric Ton? – Nickel on the London Metal Exchange fell to a fresh low this week, trading as low as $10,440 per metric ton on Tuesday. – more

    Interview with Mr. Buffet, Chairman of ERAMET, France in Tokyo = Capital expenditure in 2015 is anticipated to be far below EUR400 million = Mr. Patrick Buffet, Chairman and Chief Executive Officer (CEO) of ERAMET, France who visited Japan had a press interview at Hotel Okura located in Minato-Ward, Tokyo on July 2, and announced the Company’s activity in 2014 and the outlook for its future transaction as follows. – more

    Top Frontier plans $1.5 billion nickel plant in Philippines – Top Frontier Investment Holdings Inc is looking to build a $1.5 billion nickel processing plant in the southern Philippines. – more

    Top Chinese steelmakers’ core business losses double – Large Chinese steelmakers’ losses in core business more than doubled during the first five months from a year earlier as tumbling steel prices plunged producers into red, a top official of the China Iron & Steel Association (CISA) said on Thursday. – 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, July 8

• Three month nickel closed Tuesday’s trading session at $4.91/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just under the 456,750 tonne level. $4.73/lb was the bottom for yesterday’s freefall, and it was tested and held early in today’s session. We had $10,400 tonne showing as major support and so far it is holding. This Marketwatch article title speaks volumes – “Forget Greece, China is cause to freak out”. Commodity traders have been taking note based on the movement in the price of base metals the last few days, but so far, equity traders seem to be paying far more attention to Greece than what would be the lead economic story any other time.
• Average price of cash nickel so far this month – $5.33/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – LME, ShFE copper sag to 6-year lows as China worries mount – more

  Reports

• U.S. Imports of Stainless Steel Mill Products – more
• D Commodity Price Report – pdf here
• Reuters Metals Insider – pdf here
• Commonwealth Daily Alert – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Tropical cyclone activity may boost El Niño – more

    The Mining Supercycle’s Long Goodbye – On the way up, the catchphrase of the commodities supercycle was “stronger for longer.” Now, its demise feels just as enduring. – more

    China’s equity rout sparks metal meltdown – High quality global journalism requires investment. – The $3tn rout of Chinese equities has spilled over into commodities, pushing nickel, zinc and iron ore into bear market territory and sending copper to its lowest level since the financial crisis. – more

    Commodity carnage: broad sell-off in metals and energy commodities charts – Three key commodities for Australia hit six-year lows on Tuesday night as commodity prices enter bear market territory and edge towards collapse in increasingly volatile markets. – more

    SHFE Nickel is Shut at Daily Downward Limit Price for All Day – SHFE 1509 nickel opened at RMB 82,400/mt during Tuesday evening session and them dropped to daily limit, to finish at RMB 81,630/mt. – more

    Only half of nickel smelters to be built in Indonesia this yr-industry – Nickel producers in Indonesia may only build half of the 12 new smelters anticipated this year and some may not commence production immediately due to low global prices, a senior industry official said. – more

    Platts China Steel Sentiment Index for July Fell on Weak Price Outlook – The outlook for steel prices in China slumped to a six-month low, while expectations for domestic orders during July also deteriorated, according to the latest Platts China Steel Sentiment Index (Platts CSSI) for July, which showed a headline reading of 26.5 out of a possible 100 points. – more

    Victory Nickel blames falling oil prices for missing interest payments – Victory Nickel Inc., which missed quarterly interest payments on its 14.8% senior secured notes and its unsecured convertible promissory notes on June 30, is now working with City Hall Capital LLC on what to do next, according to a spokesman for the Canadian nickel and frac sand mining company. – 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, July 7

• Three month nickel closed Monday’s trading session at $5.29/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.16/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses fell for a third consecutive session and now total just over the 455,500 tonne level. The Euro continues to take a beating against the US Dollar, and this is putting all sorts of negative pressure on commodities. Nickel is getting hit especially hard, with technical support levels failing on a near daily basis. Hard to say where this will end, because the fall has been so dramatic.
• Average price of cash nickel so far this month – $5.40/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Chinese equities, Greek crisis push copper to 5-month low – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SMM) Some Philippine suppliers of medium and high-grade nickel ore plan to stop selling goods due to sluggish prices, Shanghai Metals Market learns.
• Chinese Trading Suspensions Freeze $1.4 Trillion of Shares Amid Rout – more

    Goldman Sachs prefers ‘disappointing’ nickel as rebound expected – Goldman Sachs Group sees nickel rising by the end of the year. Just not as high as the bank originally thought. – more

    CR Stainless Sheet Export to EU Ups at Double Rate from Last Year Japan’s export quantity of cold-rolled (CR) stainless steel sheets to the EU is in an upward trend. – more

    LME Ni Average Price in June Down by 5% from Prior Month = It drops sharply at end of month due to Greek matter, and inventory exceeds 470,000 tons at beginning of month = LME monthly average price in June 2015 was Cash seller: US$12,779.77 per ton (US$5.797 per lb) and 3-month seller: US$12,817.05 per ton (US$5.814 per lb). – more

    US stainless steel market roundup from MEPS – Market activity levels for hot rolled coil and plate have decreased, in the United States, according to MEPS. – more

    Finnish Government To Invest $233M In Restructuring Debt-Laden Nickel Mine – In November 2014, Finnish nickel company Talvivaara announced that the corporation’s major asset owner was thinking of drafting a bankruptcy protection as debts continued to soar after several financing failures. – more

    (Courtesy AISI) In the week ending July 4, 2015, domestic raw steel production was 1,684,000 net tons while the capability utilization rate was 71.2 percent. Production was 1,900,000 net tons in the week ending July 4, 2014 while the capability utilization then was 79.0 percent. The current week production represents a 11.4 percent decrease from the same period in the previous year. Production for the week ending July 4, 2015 is down 2.8 percent from the previous week ending June 27, 2015 when production was 1,733,000 net tons and the rate of capability utilization was 73.3 percent.

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• 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, July 6

• Three month nickel closed Friday’s trading session at $5.41/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.15/lb lower, with other London traded base metals trading mostly lower. Stockpiles of nickel stored in LME approved warehouses continue to slump and now total over the 456,400 tonne level. Shanghai Metals Market reports nickel ore inventories at six major Chinese ports fell 620,000 tonnes to 11.08 million tonnes last week. These are stockpiles that SMM also forecasted would be gone by last April. It’s all about the Greece this morning, after its citizens overwhelming refused creditor demands. Markets are very nervous today, but so for, operating without panic. The Euro is down over 1% against the US Dollar, and this is adding negative pressure to commodities. Volatility could rule the week, and any agreement in Greece, could see nickel snap back sharply. Stay tuned.    
• Average price of cash nickel so far this month –
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper sinks to 5-month low on China, Greece jitters – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SSY) According to data from the China Federation of Logistics & Purchasing, China’s steel sector Purchasing Managers Index (PMI) fell 5 points month-on-month in June to a six and a half year low of 37.4, SteelFirst reports.
• (CF) China’s Ministry of Commerce (MOC) announced on Jun. 29 it decided to launch antidumping duty review investigation on carbon steel fasteners imported from the European Union.

    Market Trend of Import of Ferroalloy as of 30 June 2015 = Mo price continues declining, and EMM price also drops again =The market trend of import of ferroalloy as of 30 June 2015 is as follows. – more

    Rebound Of Industrial Metals Expected To Last Through Second Half Of 2015 – The past few days saw the Greek debt crisis hound the prices of commodities as investors erred on the safe side and waited for the next chapter to unfold. – more

    LME turns the regulatory screw on its warehousers: Andy Home – Whisper it softly, but the end of the load-out queues that have plagued the London Metal Exchange (LME) warehousing system for so long may finally be in sight. – more

    Metals investors look for miners to cut supplies to lift prices – Investors in industrial metals will keep a close watch on miners’ results in coming weeks for possible announcements of production cutbacks that could bolster weak prices. – more

    Russia’s economic prosperity directly depends on entrepreneurs — Norilsk Nickel CEO – In March 2015, CEO and one of the owners of Norilsk Nickel, the president of the Interros holding Vladimir Potanin, topped the Forbes rating of the richest Russians – more

    China’s crude steel output down 1.7% in May to 69.95 mln tons – China, the world’s largest steel producer, saw its crude steel output decrease 1.7% year on year to 69.95 million tons in May this year, according to the latest statistics released by the National Development and Reform Commission. – 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, July 2

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

• Three month nickel closed Wednesday’s trading session at $5.44/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.08/lb higher, with other London traded base metals trading mostly higher as well. Stockpiles of nickel stored in LME approved warehouses rose slightly on Wednesday and now total just over the 457,300 tonne level. The $12,000 tonne level was giving the market some resistance the last few days, but seems to be acting as support today. If Greece wasn’t what everyone was taking about, the huge correction in th Chinese stock market would be the buzz. Happy Independence Day America and a super and safe weekend to all.
• Average price of cash nickel so far this month – $5.40/lb
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper inches up ahead of U.S. jobs data – more

  Reports

• Reuters Metals Insider – pdf here

  Commodity/Economic Comments

• China manufacturing PMI unchanged at 50.2 in June – more

Wednesday, July 1

• Three month nickel closed Tuesday’s trading session at $5.46/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.02/lb higher, with other London trade base metals trading higher as well, albeit quietly. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just over the 457,100 tonne level. After momentarily dipping below $4.90/lb, cash nickel bounced sharply yesterday, with plenty of room left to recovery the earlier weeks steep loss. Some of the initial panic about Greece defaulting has diminished, with traders more confident something will be worked out to keep Greece in the Euro, and if not, the world may not fall apart after all.  
• Average price of cash nickel so far this month – N/A
• Average price of LME traded nickel in 2014 – $7.65/lb / 2013 – $6.80/lb / avg 2012 – $7.95/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Aluminium edges higher on hopes for China demand, Greek deal – more

  Reports

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (PM) Russia’s Norilsk nickel is 1st foreign company among global nickel producers to register nickel for delivery on Shanghai Futures Exchange.
• China Fastener Exports & Imports during Jan.-Apr. – more

    London nickel steadies, copper flat after China PMI – London copper held its ground on Wednesday after China’s June factory growth came in a tad slower than expected but suggested the economy was stabilising, while nickel steadied as the dust settled a day after it slid to six-year lows. – more

    (Press Release) For the month of July 2015, North American Stainless will decrease the fuel surcharge to 22% for stainless flat and long products. The surcharge rate is considered a maximum level for July and will be reviewed monthly.

    Prices of CR Austenitic Stainless Sheets in Asia Head for Double Dip – In the Chinese Wuxi market, cold-rolled (CR) austenitic stainless steel sheets got the price of 14,000 CNY per ton this week. – more

    Weak market fundamentals keep stainless steel prices in check – MEPS – Stainless steel market activity remains subdued, around the world. Prices are quite stable. – more

    Avebury Nickel Mine sale falls through as buyer misses deadline – The sale of the Avebury nickel mine on Tasmania’s west coast has fallen through, potentially dashing the prospect of hundreds of new jobs. – more

    Grand theft at the top turning Zim into a ‘tsotsiocracy’ – Between 2007 and 2008, a mining house — Mwana Africa — sourced $8 million for its Zimbabwean mining operation, Bindura Nickel Corporation (BNC). – 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

 June Archives

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