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

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Monday, October 31

• Three month nickel closed Friday’s trading session at $4.73/lb . Indicators at 5:30 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses rose sharply on Friday and now total above the 363,500 tonne level. This will be the first month in many where nickel reserves stored in warehouses licensed by the London Metal Exchange, will end the month with more nickel than they had at the beginning of the month. This is LME Week, and price changes can be muted, as traders from around the world converge on London.
• Average price of cash nickel so far this month – $4.65/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 eyes flat Oct close for copper, aluminium tracks higher – more

  Reports

• Follow LME Week on Twitter – #lmeweek
• 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
• Asian Energy Stocks Fall as OPEC Split Hits Oil; Dollar Gains – more

    Global nickel market sees 66,000 tonne deficit in 2017 – The global nickel market is seen in a 66,000 tonne deficit next year, in line with this year, on growing demand from the stainless steel sector, the International Nickel Study Group (INSG) said. – more

    Gloomy future for Phikwe cooperative as BCL folds – Mine employees, who will be jobless by the end of the month, contributed P2.9 million monthly towards SACCOS. – more

    Vale’s Production Volumes of Mn Ore, Ferroalloy, Ni and Co in Jul-Sept = Production of ferroalloy and cobalt is up, but production of nickel is down due to maintenance = On October 20, Vale S. A., a major resource company in Brazil announced its production volumes of manganese ore, ferroalloys, nickel and cobalt in the period from July to September in 2016. – more

    Financial Recovery is Possible After Nickel Price Rebound – Nickel Asia Corporation is one of the world’s top suppliers of lateritic nickel ore. – 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, October 27

• Three month nickel closed Wednesday’s trading session at $4.65/lb . Indicators at 5:40 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total 362,250 tonnes. Indonesia has proposed allowing miners who are building refineries in Indonesia, be allowed to export ore in the mean time. This would be a partial reversal of the complete ban imposed in early 2014 and could help alleviate concerns being caused by the Philippine crack down on ore miners there. This is our final update for the week so we wish our readers a safe and relaxing weekend.
• Average price of cash nickel so far this month – $4.65/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 hits two-week high on Chinese demand hopes – more

  Reports

• U.S. Imports of Stainless Steel Mill Products – more
• The Life of Ni – 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
• Bonds Fall, Dollar Strengthens as Monetary Policy Outlook Shifts – more

    Govt to allow nickel ore, bauxite exports under new rules – The government has finalized the draft revision of a government regulation on coal and mineral resources mining activities, which focuses on a licensing regime change and flexibility for mineral exports. – more

    Suspended Philippine nickel miner mounts first legal challenge to govt – A suspended Philippine nickel miner said on Wednesday it has sued government environment agencies for a nearly four-month stoppage of its operations, in the first legal challenge to the state’s environmental crackdown on the mining sector. – more

      Steel manufacturers gain popularity once again – Steel manufacturing has reemerged as a hot sector. The global steel industry at least for now, is attracting investors back as China’s Baoshan Iron & Steel Co. has started the earnings season for the recent quarter with a jump in profit. – 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, October 26

• Three month nickel closed Tuesday’s trading session at $4.64/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses rose slightly on Tuesday and now total just under the 362,500 tonne level. Sideway trading continues, although we have read two technical traders recently, one of which is forecasting a break to the positive side and one saying the charts don’t yet show that. Things are looking better in China but stockpiles have yet to show the declines necessary to prove we have hit a level where demand outweighs supply significantly. In fact, LME warehouses are 480 tonnes above where they started the month today. Without some major news, we expect prices to continue sideways.  
• Average price of cash nickel so far this month – $4.65/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 – Shanghai aluminium hits 2-year high on coal price surge – 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 – China’s Baiyin Nonferrous Group will build an integrated #200 stainless steel plant in the Philippines in a long-term strategic partnership with Global Ferronickel Holdings Inc. (FNI), news from Manila reported.
• Stocks Fall as Apple Adds to Earnings Queasiness; Oil Retreats – more

     An ‘unhealthy’ stainless recycling market – Global: In general, conditions within the stainless recycling industry are not healthy, with almost all the leading processors confronted by significant pressure on margins, according to Joost Van Kleef, chairman of the BIR’s stainless steel & special alloys committee. – more

    POSCO Q3 profit jumps to over 4-year-high as China prices gain – POSCO posted its strongest quarterly operating profit in more than four years, beating analysts’ estimates, as a sustained recovery in Chinese steel prices helped boost margins for South Korea’s top steelmaker. – more

    BHP Billiton likely to renew nickel off-take contract with Western Areas – Western Areas Ltd. has released two tenders to market for nickel off-take that is currently contracted to BHP Billiton Group and China’s Jinchuan Group Co. Ltd. and due to expire at the end of this year. – more

     BHPB’s Production of Nickel and Molybdenum in Jul-Sept 2016 = When compared with prior period, both productions of nickel and molybdenum are down = On October 19, BHP Billiton Limited (BHPB) announced its production results and sales volumes in the period from July to September in 2016. – more

    Anglo America Q3 2016 Production Report – more

    Sherritt widens loss as output slows; lowers Ambatovy FY guidance – Canadian diversified miner Sherritt International Resources has, for the second time this year, cut the nickel guidance at the 40%-owned Ambatovy mine, in Madagascar, citing a tailings pipe blockage and total shutdown that occurred in June and July, followed by weak output in August. – more

    Recent Vale job losses ‘part of regular business’ – Vale says any recent job losses at its Manitoba Operations are the result of normal business operations rather than the result of strategic cuts in response to market forces or the closure of the smelter and refinery by the end of 2018. – more

    We can fight for mining together – It is pretty obvious what people want from government. Security for our seniors, a good education for our kids, safe roads to travel on, healthcare, respect for our veterans, and jobs. – 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, October 25

• Three month nickel closed Monday’s trading session at $4.54/lb . Indicators at 5:45 am CST today show 3 month nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and now total just over the 362,400 tonne level. Flash manufacturing readings have been positive and traders, encouraged that demand should be picking up, are responding positively this week. Still trading in an established channel, so no reason yet to say the market has turned one way or the other.
• Average price of cash nickel so far this month – $4.65/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 – Shanghai zinc surges to 5-year high, tracks steel – more

  Reports

• Damstahl Stainless Steel Report – October 2016 – 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
• Metals Jump on Economic Optimism as Rand Strengthens With Miners – more
• World Stocks, commodities climb as economic confidence lifts – more
• Negative IOD continues as tropical Pacific remains ENSO neutral – more

    Philippines stock investors weigh up Duterte’s policies with a solid economy – Recent headlines emanating from the Philippines have caused ructions in the nickel market and pressured the sharemarket, although some international investors believe the country’s robust economic fundamentals mean equities are still worth a look. – more

     Botswana: BCL Poisoned Workers – Experts – BCL Liquidator Nigel Dixon-Warren will be confronted with shocking findings when he finally conducts health inspections on the 5000 dismissed workers, after Government and other shareholders disregarded warning of disastrous pollution from public health experts, caused by the sulphur dioxide and effluent pumped into the open environment. – more

     FDA-approved alternative to stainless steel in geared motors – An anti-corrosion system for geared motors that goes far beyond the effectiveness of surface coatings to deliver a true alternative to stainless steel at a much lower cost has been released in Australia. – more

     Courtesy AISI – In the week ending October 22, 2016, domestic raw steel production was 1,597,000 net tons while the capability utilization rate was 67.3 percent. Production was 1,629,000 net tons in the week ending October 22, 2015 while the capability utilization then was 68.1 percent. The current week production represents a 2.0 percent decrease from the same period in the previous year. Production for the week ending October 22, 2016 is up 0.4 percent from the previous week ending October 15, 2016 when production was 1,590,000 net tons and the rate of capability utilization was 67.0 percent. – source

  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, October 24

• Three month nickel closed Friday’s trading session at $4.52/lb , the first close below $10,000/tonne since mid September. Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Friday and start the week just under the 363,300 tonne level. Stockpile umbers are currently running ahead of where they started the month, which apparently has traders somewhat concerned. Cancelled warrants jumped to nearly 35% today, so this gain may evaporate shortly. Nickel continues to trade within a trend started back in July, after an earlier year jump.
• Average price of cash nickel so far this month – $4.66/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 looks through dollar strength; tight China market supports – 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
• Stocks Rise With Bonds as Europe Lifts Market With Triple Boost – more

    World nickel prices jumped in Q3 – Global prices of nickel jumped 16 percent amid strong demand for stainless steel as well as the anticipated tightening of output from the Philippines following an audit of mine operations, according to the World Bank. – more

    Fury as 5,000 jobs vanish at BCL, Tati – The Botswana Mine Workers Union is today consulting legal counsel with a view to challenging Wednesday’s decision by BCL Ltd liquidator, Nigel Dixon-Warren to terminate 5,000 jobs at BCL and Tati Nickel mines. – more

• The fall of Tati Nickel – more

    New venture plans steel mill – Nickel miner Global Ferronickel Holdings Inc.’s agreement with state-owned Baiyin Nonferrous Group Co., Ltd. will provide it with trade financing and if feasible help it to put up a steel mill. – more

• China visit helps Duterte reap funding deals worth USD24 billion – more

    September 2016 crude steel production – World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 132.9 million tonnes (Mt) in September 2016, 2.0% up on September 2015. – more

    PHL nickel supply to depend on government mining policies  – The Philippines’s nickel supply in the next few years will depend on mining policies implemented in the country, the World Bank said. – more

    BHP’s Nickel West eyes Yakabindie pit – A BHP Nickel West plan to develop the Yakabindie open pit near Leinster as a satellite pit of the Mt Keith project, 20km to the north, could be key to expanding the once-endangered division’s asset life to 2038. – 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, October 20

• Three month nickel closed Friday’s trading session at $4.68/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses have been up and down over the last week and started today’s trading day just over the 362,800 tonne level. For the most part, the past trading week has been quiet, with BHP’s positive tone about the future welcome news for traders. Demand in China appears to be on the rise again, and with the so called pig nickel becoming harder to come by, due to export bans and hostility toward mines, there is a reason to be bullish. With over 350,000 tonnes in stock however, this optimism can quickly wane. This is our first and last update for the week and we apologize for that, and our next update will be Monday. Have a safe and relaxing weekend.
• Average price of cash nickel so far this month – $4.67/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 drifts as China douses property sector – 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
• Euro, Stocks Hang on Draghi Briefing as Crude Gives Back Gains – more

     BHP Sees Imminent Turning Point in Nickel With Deficit Looming – BHP Billiton Ltd., the world’s largest mining company, sees the nickel market swinging into deficit because of supply threats in the Philippines and growing demand from electric vehicles and stainless steel. – more

    BHP spends $2 million a month on nickel unit as recovery looms – BHP Billiton’s nickel business, which faced closure after failing to attract a buyer, is spending $2 million a month on improvements and making headway to extend operations through the next decade, a senior executive said on Thursday. – more

    PT Antam to Construct Coal-fired Power Plant to Expand FeNi Production – On October 10, PT Antam Tbk, Indonesia announced that it completed construction of a coal-fired thermal power plant with two 30-MW power units as part of the expansion project (P3FP) for its Pomalaa ferro-nickel plant. – more

    Charges in miner’s death – Tears will be shed today by hard-rock miners at Nickel Rim South Mine, by the union that represents them, and by friends and family as they mark the one-year anniversary of the workplace death of a man who was beloved. – more

     ‘We are slowly being killed by this mine’ – Amid the arid farmlands of Colombia’s Córdoba province, the grassed earth gives way to bare incisions. Upturned mounds of ochre puncture the landscape. – more

     Crackdown on illegal mines cheered – The Chamber of Mines of the Philippines (COMP) Wednesday welcomed an anticipated crackdown by the Ombudsman on illegal mines following a move against illegal dumpsites. – more

     7 Years Fighting Against Canadian Mining Impunity in Guatemala – Murder, rape and displacement is what a Canadian mining project has brought to a Mayan Q’eqchi’ community in Guatemala. – more

    Courtesy AISI – In the week ending October 15, 2016, domestic raw steel production was 1,590,000 net tons while the capability utilization rate was 67.0 percent. Production was 1,629,000 net tons in the week ending October 15, 2015 while the capability utilization then was 68.1 percent. The current week production represents a 2.4 percent decrease from the same period in the previous year. Production for the week ending October 15, 2016 is up 0.3 percent from the previous week ending October 8, 2016 when production was 1,585,000 net tons and the rate of capability utilization was 66.8 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, October 17th – Friday, October 21st

Thursday, October 13

• Three month nickel closed Wednesday’s trading session at $4.79/lb . Indicators at 5:50 am CST today show 3 month nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 360,100 tonne level. Nickel bulls got some positive news late yesterday, when Reuters published an interview with Indonesia’s mining minister, who advised the country’s ban on nickel ore would remain in place. This makes the actions taken by the Philippines government recently with mine closures, more relevant to the long term impact on the supply and demand balance of the industry. Today, however, a stronger Dollar and disappointing Chinese export numbers has commodities following other markets lower.  
• Average price of cash nickel so far this month – $4.65/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 falls after tepid China trade data – 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
• China Steel Exports at Seven-Month Low as Frictions Escalate – more

    Indonesia unlikely to relax ban on nickel ore and bauxite exports – Minister – Indonesia will “almost definitely” keep in place a ban on nickel ore and bauxite exports, the country’s mining minister said on Wednesday, just days after it had considered lifting the restriction to raise extra cash in an overhaul of mining rules. – more

    Stainless steel scrap market briefing – Demand and scrap prices have mirrored the nickel market. Following a near-full recovery to $9,600/tonne in May, nickel prices increased to over $11,000/tonne, but this has not been sustained. – more

    Sherritt’s Moa survives hurricane Matthew – Toronto’s Sherritt International Corp. has provided an update on its Moa joint venture nickel project following hurricane Matthew earlier this month. – more

  BCL, Tati workers to know fate in four months – The fate of 5,000 workers at the closed BCL and Tati Nickel mines lies in the hands of a KPMG liquidator, whose report next February is expected to specify whether all jobs should be shed, or just some. – more

    Taiwan’s Import of Major Ferroalloys in July 73,931 Tons = Down by 4% from prior month, and imports of Malaysian FeSi and HC-FeMn are up = According to the import statistics of Taiwan, the import volume of major ferroalloys in July 2016 was 73,931 tons, down by 4.4% from 77,337 tons in the prior month – more

     KPK to Consolidate Steps for Investigation of Nur Alam Case – Head of the Law Bureau of the Corruption Eradication Commission (KPK) Setiadi said the Law Bureau will consolidate steps for investigation of Nur Alam corruption case after the South Jakarta district court rejected pretrial plea of the Southeast Sulawesi governor. – 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, October 12

• Three month nickel closed Thursday’s trading session at $4.73/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just under the 360,550 tonne level. News has slowed with China re-opening from a week long holiday. So far this month, nickel is averaging slightly higher than September, but lower than August.
• Average price of cash nickel so far this month – $4.63/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 zinc pares losses from Peru supply boost – 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
• Pound Rises as May Eases Brexit Angst; European Stocks Fluctuate – more

     Stainless steel surge impacts nickel and ferro-chrome: Andy Home – Global steel demand will rise by a meagre 0.2 percent this year, according to the World Steel Association (WSA). – more

    Chinese lenders target Singapore metals merchants as trade push grows – Chinese banks are stepping up lending to midsize metals traders in Singapore, pushing into a gap in the market as U.S. regulations and fading appetite for risk drive Western rivals to focus on larger commodity merchants, metals industry sources said. – more

    Nickel price rally ‘on shaky ground’ – On Tuesday, nickel exchanged hands for $10,490 a tonne in London holding onto most of its 3% overnight gains. – 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, October 11

• Three month nickel closed Monday’s trading session at $4.78/lb . Indicators at 5:30 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just under the 360,800 tonne level. The Botswana government seems to have decided to get out of the state sponsored nickel mining business, although it does not appear to have pulled a Philippine’s about face and turned hostile turned mining as an industry.
• Average price of cash nickel so far this month – $4.61/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 steady near Oct peak as US risk appetite improves – 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
• Dollar Climbs as Treasuries Decline on Fed Wagers; Rand Sinks – more
• ENSO Wrap-Up – more

    Botswana Shuts State-Owned Copper, Nickel Producer BCL on Losses – Botswana shut down money-losing copper and nickel producer BCL Ltd. and began steps to liquidate the state-owned company, Mineral Resources Minister Sadique Kebonang said Saturday. – more

• Botswana Pulls Out of $279 Million Norilsk Nickel-Mine Deal – more

     Chinese Smelter Assails Indonesia Over U-Turn on Ore Exports – A plan by Indonesia to allow shipments of raw mineral ores would inflate local smelting costs and threaten the existence of small producers, according to the head of a Chinese-Indonesian venture, who called the move unwise and said it contradicted promises by the nation’s president. – more

    Vale cuts Swiss jobs – Vale is eliminating positions from its Swiss operations as the Brazilian mining company consolidates its base metals marketing group in Canada. – more

    Japan’s Purchase Price of HC FeCr for Oct-Dec Up by US Cents 12 = US Cents 118 per lb due to increase in ore price, etc.=  Japanese stainless steel mills have continued negotiation with multiple foreign ferro-chrome producers to fix the purchase price of high-carbon ferro-chrome for the period from October to December in 2016, and have recently come to an agreement on the price to be up by US Cents 12 from the prior period. – 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, October 10

• Three month nickel closed Friday’s trading session at $4.64/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Monday after no change on Thursday. Stockpiles now total just over the 360,800 tonne level. China has reopened for business after a week long holiday and a surprise announcement of another mine closure in the Philippines has nickel trading higher.
• Average price of cash nickel so far this month – $4.60/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 as China returns after break – 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
• Goldman Sachs Sees Shock Potential for U.S., European Stocks – more

     Stainless Steel Production Reached 22.1 million metric tons in the First Half of 2016 – The International Stainless Steel Forum (ISSF) has released figures for the first half year of 2016 showing that stainless steel melt shop production increased by 4.1% year–on–year to 22.1 million metric tons. Production increased in Asia without China and in China. – more

     Philippines to cancel environmental permit of nickel miner as crackdown continues – The Philippines will cancel the environmental permit of a nickel miner that began operations this year, a minister said, as the government intensifies a campaign to punish mineral producers harming natural resources. – more

• Workers in suspended Caraga mines won’t lose jobs, DENR assures – more

    Indonesia eyes 15 mln T nickel ore exports in 2017 – Indonesia could export up to 15 million tonnes of nickel ore in 2017 if it amends a ban on unprocessed ore exports, a mining ministry official said on Friday. – more

    New Caledonia’s Koniambo says job cuts needed – The company, KNS, announced last week that 140 positions would be dis-established – 50 of them affecting New Caledonians. – more

    Clive Palmer to sue Michaelia Cash over Queensland Nickel comments – Clive Palmer is set to become involved in another legal dispute, this time threatening to sue Employment Minister Michaelia Cash. – 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, October 6

• Three month nickel closed Wednesday’s trading session at $4.57/lb . Indicators at 5:30 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME a licensed warehouses fell on Wednesday and now total just under the 360,300 tonne level. Nickel prices continue to trade quietly with China markets closed for the week. This is our final update for the week so we wish each of our readers a safe and relaxing weekend and invite you back next week.
• Average price of cash nickel so far this month – $4.58/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 slips as China holiday crimps demand – more

  Reports

• Sustainable Steel – Policy and Indicators 2016 – 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
• Bad bolts in valves may be causing water line breaks – more
• Fed Rate Bets Boost Dollar, Damp Treasuries as Stocks Fluctuate – more

    Philippines Aims for Final Mine-Halt Decisions by Month-End – The Philippine government has set out a timetable for the final stages of its review of metallic miners in the world’s largest nickel producer, and aims to decide which suppliers will be suspended for failing an environmental audit before the end of this month. – more

    Duterte and Jokowi Are Nickel’s New Best Friends – A vigilantist politician who would be happy for all his country’s mines to shut down and a populist president enforcing a ban on ore exports might not seem the most obvious allies for global nickel miners. – more

    Resumption of ore exports could put smelting industry at risk: CEO – Major nickel producer PT Vale Indonesia has urged the government to reconsider its plan to allow ore exports because it could put the country’s smelting and mineral processing industry at risk. – more

    Local authority appeals for extended life-span of ailing Botswana nickel miner – The Selebi-Phikwe town council has pleaded with the cabinet sub-committee set up to probe the feasibility of continued mining operations at the ailing Bamwangwato Concession Limited (BCL) mine to ask the government to consider financing the mine instead of taking up the closing down of it, as doing so would destroy the regional economy. – more

    Russia’s Norilsk Nickel to spend 18 bln rbl on modernization – Russian metals giant Norilsk Nickel plans to spend over 18 billion rubles to introduce a new technology of nickel refining at its unit Kola Mining and Metallurgical Company (Kola MMC) in the Murmansk Region, Norilsk Nickel said in a statement 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

Wednesday, October 5

• Three month nickel closed Tuesday’s trading session at $4.57/lb . Indicators at 5:45 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell Tuesday and now total just over the 360,550 tonne level. With China still closed for their week long holiday, markets are subdued and in a slow retreat.
• Average price of cash nickel so far this month – $4.61/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 near 1-week low as China holiday dampens market – 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
• European Stocks Fall With Emerging Markets on Central Bank Angst – more

    Nickel market developments, September 2016 – Presentation on developments in the nickel market. – more

    Indonesia expects mining rule overhaul within weeks – Indonesia is finalizing an overhaul of its mining rules that could give companies up to five more years to build smelters, and reopen exports of nickel ore banned since 2014, the country’s mining minister said on Tuesday. – more

    China’s Import of High-carbon Ferro-chrome in August 270,000 Tons – According to the foreign trade statistics of China, the import volume of high-carbon ferro-chrome (material quantity) in August 2016 was 270,214 tons, down by 21.1% from 342,371 tons in the prior month. – more

    Mining employees to keep jobs — Lopez – Employees of 20 mining companies that were recommended for suspension will keep their jobs for the moment, Environment Secretary Regina Lopez said Tuesday. – more

    Queensland Nickel liquidators to pursue $180m from Clive Palmer’s other companies – Liquidators for Queensland Nickel have been given a war chest to wrestle back hundreds of millions of dollars Clive Palmer’s other companies owe creditors. – more

    Botswana: Nickel Park to Impact On Region – The Minister of Infrastructure and Housing Development, Mr Nonofo Molefhi, says the Nickel Park in Selebi Phikwe will have a positive impact on the town’s community and SPEDU region. – more

    The End of the Commodities Crash? – Last week, I harped on opportunities in commodities — clearly a “most hated” asset class if there ever was one. – 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, October 4

• Three month nickel closed Monday’s trading session at $4.69/lb . Indicators at 5:45 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just under the 361,450 tonne level. As Indonesia discusses changing their 2014 nickel ore ban, the negative effect from mine closures in the Philippines wanes. Now there is news that some of those Philippine mines may be able to make the environmental changes necessary to remain open. For the fist time in a long time, all four purchasing manager indexes we follow went positive (above 50 reading) in September (more).
• Average price of cash nickel so far this month – $4.62/lb
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 prices tread water in holiday-thinned trade – 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
• US steel firms say Chinese evaded tax via VN – more
• Steel ministry wants MIP continuation for 21 products – more
• Dollar Rises on Fed Hawks as Pound Slumps; European Stocks Gain – more

    Indonesia ‘still discussing’ whether to overturn nickel ore export ban – Indonesia is still considering whether to resume nickel ore exports, the mining minister said on Tuesday, amid broader discussions of the country’s mining rules. – more

• Indonesia may allow miners a further 3-5 years to build smelters -minister – more

    Cuban nickel industry shuttered as Hurricane Matthew looms – Cuba’s two nickel processing plants were temporarily shut down on Monday, State-run media said, as powerful Hurricane Matthew threatened the eastern part of the Caribbean island, where the country’s top export-earning industry is located. – more

    Japanese Mills Raise Offer Prices of CR Austenitic Stainless Sheets by $50-100 – In the austenitic stainless steel sheet market in the East Asian region, supply of hot-rolled (HR) steel coils has still been tightened, and inquiries of HR coils to Japan are not decreasing. – more

    Miners May Avoid Shutdowns in Philippine Audit as Nickel Drops – A mining audit in the world’s top nickel supplier that’s threatened mass closures may see producers prevail, with companies signaling their confidence shutdowns can be avoided as they race to remedy problems flagged in the nationwide Philippine checkup. Futures dropped. – more

    Small Tasmanian nickel mine symbol of hope in uncertain market: Russell – It’s not often that jobs get exported from the developing world back to a developed country, but this is likely to be the case with nickel, the Philippines and Australia. – more

    Job cuts threatened at New Caledonia nickel plant – Job cuts are looming in New Caledonia’s mining and processing sector following a severe drop in the global price of nickel. – more

    Courtesy AISI – In the week ending October 1, 2016, domestic raw steel production was 1,611,000 net tons while the capability utilization rate was 68.9 percent. Production was 1,687,000 net tons in the week ending October 1, 2015 while the capability utilization then was 70.5 percent. The current week production represents a 4.5 percent decrease from the same period in the previous year. Production for the week ending October 1, 2016 is up 0.4 percent from the previous week ending September 24, 2016 when production was 1,605,000 net tons and the rate of capability utilization was 68.6 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, October 3

• Three month nickel closed Friday’s trading session at $4.80/lb . Indicators at 5:45 am CST today show 3 month nickel trading $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Friday and start the week just under teh 361,800 tonne level. We expect the nickel market to remain quiet this week, with Chinese markets closed for their Golden Week holiday. Chinese manufacturing PMI remained unchanged for September, but still on the growth side.
• Average price of cash nickel so far this month – n/a
• Average price of LME traded nickel in 2015 – $5.37/lb / 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 near 8-wk high after China PMI in holiday-thinned trading – 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
• Nickel Belt MP Marc Serré voted against the bill, and Sudbury MP Paul Lefebvre a no show – more
• Pound Slides on Brexit Angst as Stocks Show Contagion Contained – more

    World nickel market faces supply shock as UBS flags risk in 2017 –  About a 10th of the world’s nickel supply is at risk after the Philippines widened its crackdown on miners, raising the chances of prices rallying by another 25 per cent through 2017, according to UBS Group, which had already billed the metal as one of its favoured commodities. – more

    Nickel Supply Curbs Set To Lift Stainless Steel Prices – According to MEPS, austenitic stainless steel coil selling values rose in September, in the United States and Europe. – more

    S. African Charge Chrome Price for Europe in Oct-Dec Up by US Cents 12 – On September 26, Merafe Resources Limited, South Africa, a joint venture partner for Glencore -Merafe Chrome Venture announced on its home page that the benchmark price of South African charge chrome meant for Europe for shipments from October to December in 2016 was settled at US Cents 110.0 per lb. – more

    India alleges Chinese non-cooperation in stainless steel countervailing duty investigation – In what may delay the ongoing countervailing duty investigation on imports of stainless steel products from China, India has alleged that it is not getting adequate support from the Chinese authorities to ascertain subsidies provided to its manufacturers. – more

    Comet Minerals discovers unusual native nickel deposit in Nigeria – The Titan native nickel deposit has a genesis like no other nickel deposit in the world – different to that of conventional laterite or sulphide nickel. – 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

September Archives

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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.