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

    Cell phone and tablet users – smaller version of this page – (here)

Thursday, October 29

• Three month nickel closed Wednesday’s trading session at $4.79/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb lower, but in recovery mood from earlier losses. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now totals just over teh 427,500 tonne level. Nickel prices continue to trade sideways, and rangebound. Our next update will be Monday, November 2nd. Have a safe and relaxing Halloween weekend.
• Average price of cash nickel so far this month – $4.69/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 pressured by U.S. Dec rate hike view – 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

    Even Chinese Mills Reach Limit of Price Cut of HR Coils for Asia – In the Asian region, negotiations on hot-rolled (HR) steel coils have been commenced for December shipment, and among Chinese mills, some having dropped out from a price war are said to begin to appear. – more

    NPA destroys 28 vehicles, heavy equipment in Isabela attack – Alleged New People’s Army (NPA) remnants reportedly attacked and destroyed 28 vehicles and heavy equipment units owned by Nickel Asia and Fortune Allied Mining in Dinapigue town, Isabela on October 28, 2015. – more

     Vale denies wrongdoing after Environment Canada water pollution claims – New court documents obtained by CBC News allege Vale knew it was polluting Sudbury-area waters for 15 years and didn’t address it until Environment Canada got involved. – more

     Trouble in New Caledonia over links with China – In August the economy of the nickel-rich French territory of New Caledonia ground to a halt as truck drivers set up barricades preventing movement at strategic points around the main island. – more

    Freeport’s Mo Production during July to September 23 Million LBS = Down by 4% from year-earlier period, and sales volume is 23 million lbs, up by 5% ditto = On October 22, Freeport-McMoRan Copper & Gold Inc. (FCX), a gold mining company in the U.S. announced its production and sales volumes in the period from July to September in 2015. – more

     Counterpoint: PolyMet’s Minnesota copper-nickel project is risky business – As finance professionals who have spent considerable time studying the PolyMet project, we come to the exact opposite conclusion from Lee Schafer (“Low prices won’t dissuade PolyMet,” Oct. 15). – more

     Ramu Nico is Strategic partner : Aloi – RAMU Nickel and Cobalt developer, Ramu NiCo Management (MCC) Ltd is a strategic development partner in Madang Province and it presents an opportunity for the Madang Provincial Government to partner with for common infrastructure and economic development. – 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 28

• Three month nickel closed Tuesday’s trading session at $4.80/lb  . Indicators at 6:15 am CST today show 3 month nickel trading around $.03/lb lower, and off earlier lows. Stockpiles of nickel stored in LME approved warehouses fell just slightly on Tuesday and now total just over the 428,200 tonne level. US Fed will end their two day meeting later today and make their statement. No one expects them to raise interest rates, but the statement give the market an idea when rates might be raised.
• Average price of cash nickel so far this month – $4.69/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 slips, demand worries drag – 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
• 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 Board of the BSSA Appoints New Chairman and Vice-Chairman – more
• Strong El Niño and positive Indian Ocean Dipole persist – more

    Global base metal prices seen weak through 2016: Moody’s – Slowing growth in China and Brazil, muted conditions in Europe and weak recovery in the US economy will continue to put pressure on global prices of base metals, ratings agency Moody’s Investors Service said on Monday – more

    New Caledonia nickel policy decried – New Caledonia’s anti-independence Republicans have condemned the government’s decision to allow only one company to export low-grade nickel ore to China. – more

     Ramu mine locals not happy with land payments – People living along the Ramu NiCo’s inland and coastal pipeline areas in Madang received payments for their land last week. – more

    News from AIIS: September 2015 Steel Imports Press Release – Steel imports into the United States dropped sharply for the second straight month in September, a potential bad sign for the economy going into the third quarter, according to preliminary data from the U.S. Census Bureau. – 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 27

• Three month nickel closed Monday’s trading session at $4.78/lb . Indicators at 6:05 am CST today show 3 month nickel trading flat and off earlier highs. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday and now total just under the 428,250 tonne level.
• Average price of cash nickel so far this month – $4.69/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, traders eye central bank meetings – more

  Reports

• A Closer Look at Nickel: An Unsustainable Current Reality? – pdf here
• The October 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

     New Caledonia to export nickel ore to China – The New Caledonian government has approved a single company’s bid to start exporting low-grade nickel ore to China. – more

    Chinese metal smelter Jinchuan gets approval for Trafigura JV – A unit of Chinese metal producer Jinchuan Group has got approval to set up a joint venture with Trafigura, and it plans to build a harbour in the southwestern region of Guangxi to cut the costs of importing raw materials, a company official said. – more

    Ramu NiCo presents half a million to Ramu Dev. Foundation – The developer of the Ramu nickel and cobalt project in Madang province, Ramu NiCo Management (MCC) Ltd, has presented a cheque K500, 000 to Ramu Development Foundation over the weekend in Madang. – more

    Botswana: Tati Mine Dedicated to Corporate Social Responsibility – The managing director of Tati Nickel Mining Company (TNMC), Mr Ditiro Lentswe has said his mine will continue to assist the underprivileged members of the community in the villages around it. – more

    Courtesy AISI – In the week ending October 24, 2015, domestic raw steel production was 1,667,000 net tons while the capability utilization rate was 69.7 percent. Production was 1,840,000 net tons in the week ending October 24, 2014 while the capability utilization then was 76.5 percent. The current week production represents a 9.4 percent decrease from the same period in the previous year. Production for the week ending October 24, 2015 is down 0.5 percent from the previous week ending October 17, 2015 when production was 1,675,000 net tons and the rate of capability utilization was 70.1 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 26

• Three month nickel closed Friday’s trading session at $4.78/lb . Indicators at 6:15 am CST today show 3 month nickel trading flat, but recovering from earlier session losses. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just over the 428,350 tonne level. SMM reports nickel ore stockpiles at six major Chinese ports fell by 230,000 tonnes last week and now totals 9.88 million tonnes. Nickel was helped Friday by a cut in Chinese interest rates and speculation Europe as possibly adding more economic stimulation measures.
• Average price of cash nickel so far this month – $4.69/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 up on weak dollar, China rate cut – 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 shares slip as easing expectations fade – more
• (SMM) LME Nickel to Rise to $10,400-10,800 Next Week, SMM Says

     Hopes in New Caledonia for nickel price rise – Traders in London say nickel stocks are decreasing, raising hopes in New Caledonia that the price for the territory’s top export commodity will go up again. – more

    Spotted Quoll beats records for Western Areas – Nickel miner Western Areas has reported its highest quarterly output since the December 2013 quarter, as its Spotted Quoll mine, in Western Australia, achieved record production in the quarter ended September 30. – more

    Miner ‘hard worker,’ ‘gentle soul’ – Richard Pigeau, the local miner killed in an accident at Glencore’s Nickel Rim South Mine last Tuesday, enjoyed spending time on his boat and listening to music, and his quiet time reading. – more

     Tour of mines precedes Dayton’s tough PolyMet decision – Sometime next year, Gov. Mark Dayton expects to face a major decision about whether a new copper and nickel mining project gets the ultimate go-ahead. – more

     Ex- wife of Russia’s richest oligarch who had secret mistress and love child on her fight for his £10BILLION fortune – The spurned former wife at the centre of the world’s biggest divorce has laughed off her estranged husband’s claim that he is down to his last millions.- 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 22

• Three month nickel closed Wednesday’s trading session at $4.72/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.04/lb and experiencing a session high rally at the moment. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 434,250 tonne level.
• Average price of cash nickel so far this month – $4.68/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, better China imports support – more

  Reports

• Damstahl Stainless Steel Report – October 2015 – 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

    Commodity Markets May Not See a Sustained Rally Until the 2020’s – There’s no quick fix on the horizon for the world’s beleaguered commodity markets, if more than a century of price cycles is any guide. – more

    Call for common New Caledonia nickel stance – New Caledonia’s pro-French Republicans have called for a meeting of the signatories of the Noumea Accord to develop a common nickel policy. – more

    Miners proving stubborn on output cuts despite price slide  -Base metal mines dipping into the red are proving unexpectedly resilient against output cuts, which is likely to prolong and deepen already weak prices. – more

    Brazil Vale posts $2 bln loss on currency, iron ore slump – Brazilian miner Vale SA reported on Thursday a net loss of $2.12 billion in the third quarter due to low iron ore prices and a weakening real against the dollar. – more

    Glencore Canadian nickel mine remains closed after fatality – Operations at Glencore Plc’s Nickel Rim South mine in Sudbury, Ontario were suspended until further notice for a second day on Wednesday after a worker was killed underground on Tuesday morning. – more

    Voisey’s Bay nickel, copper and cobalt deposit in quite the discovery – Mining analyst Stephan Bogner published a research update on Equitas Resources Corp. as the company provided a remarkable drilling update yesterday after market close. – 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 21

• Three month nickel closed Tuesday’s trading session at $4.74/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.05/lb lower, and recoverying from earlier session lows. Stockpiles of nickel stored in LME approved warehouses fell for its 12th consecutive session Tuesday, and now total 435,450 tonnes. The Euro is trading higher this morning, as are European stocks, but nickel is yet to find its footing. Today’s steel production numbers for September are not offering much support.
• Average price of cash nickel so far this month – $4.68/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 near 2-week low as demand sours – more

  Reports

• September 2015 crude steel production – 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
• European earnings, China’s weakness drag on stocks – more

    Mining exec kidnapped May 3 freed Tuesday – The finance officer of a mining firm who was kidnapped from a hotel in Bongao, Tawi-tawi on May 3 was freed in Indanan, Sulu on October 20, ending five months and 17 days in captivity. – more

   Mining town Kambalda looks to 50th anniversary despite nickel turmoil – Amid the toughest downturn the nickel town has ever seen, Kambalda residents say it is only a matter of time before the tide turns. – more

    Worker dies at Sudbury’s Nickel Rim mine – A Ministry of Labour inspector is on the scene of a fatality at Glencore’s Nickel Rim South Mine. – 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 20

• Three month nickel closed Monday’s trading session at $4.71/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.01/lb lower, and recovering from earlier session lows. Stockpiles of nickel stored in LME approved warehouses continue to slide, and now total just under the 435,000 tonne level. Nickel prices were damaged by a lower Euro yesterday, which is recovering slightly today. The ISSF reports world wide stainless steel production was down slightly during the first six months of 2015 (see below).
• Average price of cash nickel so far this month – $4.68/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 steady as China demand concerns drag – 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
• Commodities in the “Year of the Booby Trap” – more
• Freight Costs Could Soar as Driver Shortage Grows – more

     Stainless Steel Production Turns Out At 21.1 Million Metric Tons In The First Half of 2015 – The International Stainless Steel Forum (ISSF) has released figures for the first half year of 2015 showing that at 21.1 million metric tons stainless steel melt shop production decreased 0.7% year–on–year. Production increased in the Americas and in China. – more

     COLUMN-LME Week; adjusting to life after the supercycle: Andy Home – The Swiss trading and mining giant’s announcement of massive production cutbacks just ahead of LME Week did at least lighten the otherwise decidedly downbeat mood among the great and the good of the metals business meeting in London last week. – more

     Nickel’s market polish may buck metals malaise – Amid concerns in the mining sector that prices for metals and ores may not yet have found the bottom of the market, there may be light at the end of the tunnel for nickel, despite record high inventories being held by the London Metals Exchange. – more

     China crude steel output falls in Sept y/y as demand slows – China’s crude steel output fell 3 percent in September from a year ago to 66.12 million tonnes, government data showed on Monday, as persistent weakness in demand in the world’s top producer forced steekmakers to curb output. – more

     Brazil’s Vale Q3 nickel output up from Q2, nine-month output up – Vale produced 71,600 mt of nickel in the third quarter, down from 72,100 mt in Q3 last year but up from 67,100 mt in the second quarter of 2015, the Brazilian miner said Monday. – more

     Courtesy AISI – In the week ending October 17, 2015, domestic raw steel production was 1,675,000 net tons while the capability utilization rate was 70.1 percent. Production was 1,840,000 net tons in the week ending October 17, 2014 while the capability utilization then was 76.5 percent. The current week production represents a 9.0 percent decrease from the same period in the previous year. Production for the week ending October 17, 2015 is down 1.8 percent from the previous week ending October 10, 2015 when production was 1,705,000 net tons and the rate of capability utilization was 71.3 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, October 19

• Three month nickel closed Friday’s trading session at $4.80/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.05/lb lower, and market is quiet so far today. Stockpiles of nickel stored in LME approved warehouses fell on Friday and now total just under the 437,650 tonne levels. SMM reports nickel stockpiles at six major Chine ports fell 1.03 million tonnes to 10.11 million tonnes last week. These levels are about half of what they were a year and a half ago, when Indonesia exports were flooding the market.  
• Average price of cash nickel so far this month – $4.68/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 slips to near one-week low as China growth dims – 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
• El Nino halts Papua New Guinea gold mine-Barrick – more
• Asia stocks near 2-month highs on encouraging China data – more
• GDP growth rate of 6.9% beats market expectations: NBS – more

    Top Philippine nickel miner says prices may have hit bottom – Global nickel prices may have hit bottom and production cuts could hasten a recovery in the metal that has lost nearly a third of its value this year, the CFO of the Philippines’ top nickel ore miner said. – more

    Nickel’s market polish may buck metals malaise – Amid concerns in the mining sector that prices for metals and ores may not yet have found the bottom of the market, there may be light at the end of the tunnel for nickel, despite record high inventories being held by the London Metals Exchange. – more

    Finland’s Outokumpu sells stake in Chinese mill to cut debt – Europe’s largest stainless steel company Outokumpu is selling a 55 percent stake in Shanghai Krupp Stainless (SKS), Chinese joint venture mill, for 370 million euros ($420.5 million) to reduce debt. – more

     Chinese Steel demand may drop by 3.5% in 2015, 2% in 2016: worldsteel – The Chinese economy has decelerated as the impact of the rebalancing measures on the investment and real estate sector turned out to be more severe than expected, said the World Steel Association (worldsteel). – more

     Shipments declined from 2014 levels in September for both steel and aluminum in the United States and Canada. Inventory positions deteriorated again for both metals in both countries. – 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 15

• Three month nickel closed Wednesday’s trading session at $4.76/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.06/lb higher, but having trouble moving higher. Stockpiles of nickel stored in LME approved warehouses fell for an eighth consecutive session and now total just over the 438,600 tonne level. New Caledonia’s Congress confirmed an earlier decision to block exports of nickel ore to China yesterday.
• Average price of cash nickel so far this month – $4.65/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 near 4-wk high as miners consider output cuts – 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

    LMEWEEK-EL Nino to aid nickel, bauxite, tin supplies; cut copper – An El Nino weather pattern that is expected to be the strongest in nearly 20 years looks set to hit copper mining over the coming months, but should boost production of bauxite, nickel ore and tin in 2016, industry sources said. – more

    Glencore likely to cut back nickel production, says analysts – According to analysts speculations, Glencore may cut back Nickel production. The company had earlier announced cuts to its copper and zinc production. – more

    Majority Of New Caledonia Congress Favors More Nickel Exports – New Caledonia’s Congress has narrowly backed calls to extend nickel ore exports to China – an issue at the centre of a three-week industrial conflict in August. – more

    Clive Palmer reassures Queensland Nickel workers about their future – Federal MP Clive Palmer has met with Queensland Nickel workers in north Queensland to reassure them about the future of his company. – more

    INSG Anticipates Nickel Production in 2015 -16 to Continue Declining = Consumption shows upward trend, and supply will become tight in 2016 = The regular meeting of International Nickel Study Group (INSG) was held during 5th to 6th of October in Lisbon, Portugal. – more

    Philippine nickel miner pursues $22-mln IPO despite metal slump – Philippine nickel miner TVI Resource Development (Phils) Inc plans an initial public offering to raise up to 1 billion pesos ($22 million) to fund a domestic gold and silver mining project, a preliminary prospectus showed. – 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 14

• Three month nickel closed Tuesday’s trading session at $4.73/lb . Indicators at 6:00 am CST today show three month nickel trading flat and showing little enthusiasm. Stockpiles of nickel stored in LME approved warehouses fell for a seventh staight session and now total just over the 439,000 tonne level. Half way thru LME Week and not much news to move the market except lower than expected inflation levels reported in China.  
• Average price of cash nickel so far this month – $4.65/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 slips for second session on China outlook – 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) According to the latest Short Range Outlook from the World Steel Association, Chinese apparent steel use (ASU) is forecast to contract by -3.5% this year and again by -2.0% in 2016. This contraction in Chinese demand has contributed to a world ASU growth forecast of -1.7% this year to 1,513.4 Mt, with growth of 0.7% in 2016.

    Nickel pig iron producer in Indonesia to triple capacity by May – A unit of China steel producer Tsingshan Group is set to triple its capacity to produce nickel pig iron in Indonesia as soon as May, an executive said, as the Southeast Asian nation pushes to win more profit from its mineral wealth. – more

    Clive Palmer will ‘not allow’ Queensland Nickel to borrow from state – Clive Palmer has claimed he will “not allow” his nickel refinery to borrow money from the Queensland Government, despite holding at least two meetings with senior ministers in the past two weeks. – more

    September Production Volume from Ambatovy Nickel Project = Ni production is down by 14% from prior month, and product passes examination by LME = Sherritt International Corporation, Canada reported its September production volume from Ambatovy Nickel Project in Madagascar on October 6. – more

    Sudbury’s job market continues to soften – Sudbury lost another 1,400 jobs in September as the job market in the city continues to weaken. – 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 13

• Three month nickel closed Monday’s trading session at $4.79/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses fell very slightly on Monday and now total just under the 438,750 tonne level. The nickel market continues to drift, with LME Week taking much of the trading houses attention, and traders waiting to see if last weeks bump turns out to be something more than a dead cat bounce.
• Average price of cash nickel so far this month – $4.82/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 takes breather from rally; China imports support – 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
• Europe Stocks Fall as China Data Reignite Global Growth Concern – more
• Pacific and Indian oceans now reinforcing climate patterns – more

    LMEWEEK-Funds bet on beaten-down basic resources stocks – Some brave investors are taking a risk by betting on a sharp rebound in European basic resource shares, which have mounted a fledgling recovery recently after slumping more than 40 percent in just five months. – more

• LME Week: More output cuts to come? – more

     Nickel prices rebound, boosted by speculation of Glencore output cuts – Nickel prices have rebounded after dropping to a near seven-year low last week, buoyed by market speculation that heavily indebted miner and trader Glencore Plc could curb output following cuts to its copper and zinc production. – more

    Treasurer meets Clive Palmer over Townsville’s Queensland Nickel refinery – Queensland Treasurer Curtis Pitt has become the second senior Queensland government member to meet with Clive Palmer to discuss his Queensland Nickel refinery, but he has refused to say whether there was a request for help. – more

    The Metals Poll That Shows Just How Hard Forecasting Can Be – What do attendees of LME Week know about the likely direction of metals prices? – more

     worldsteel Short Range Outlook 2015-2016 – The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2015 and 2016. worldsteel forecasts that global steel demand will decrease by -1.7% to 1,513 Mt in 2015 following growth of 0.7% in 2014. – more

    Nickel Asia Jan-Sept shipments value drop 40% on low prices – Nickel Asia Corporation said its estimated value of its shipments dropped 40 percent to P12.3 billion for the first nine months of 2015 from the P20.5 billion reported in the same period last year due to lower prices. – more

    Courtesy AISI – In the week ending October 10, 2015, domestic raw steel production was 1,705,000 net tons while the capability utilization rate was 71.3 percent. Production was 1,840,000 net tons in the week ending October 10, 2014 while the capability utilization then was 76.5 percent. The current week production represents a 7.3 percent decrease from the same period in the previous year. Production for the week ending October 10, 2015 is down 1.3 percent from the previous week ending October 3, 2015 when production was 1,727,000 net tons and the rate of capability utilization was 72.2 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, October 12

• Three month nickel closed Friday’s trading session at $4.81/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.04/lb higher, its highest trading price since early August. Stockpiles of nickel stored in LME approved warehouses continue to fall, down a fifth consecutive session and now totaling just under the 439,800 tonne level. Nickel is up nearly 8% over the past week, but still 29-1/2% lower on the year. This is LME Week so unless traders hear whispers of something huge coming down the pike, we doubt you will see much happen with the nickel market the first part of the week.
• Average price of cash nickel so far this month – $4.62/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 gains, zinc rallies as supply cuts in focus – more

  Reports

• U.S. Exports 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
• 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

    LMEWEEK-Mini contracts to be launched in nickel, tin and lead-LME – Chief Executive Garry Jones of the London Metal Exchange (LME) said on Monday that mini contracts are due to be launched in nickel, tin and lead. – more

• LMEWEEK-China base metal demand to inch up next yr, may pick up in H2 – Most base metals will face tepid demand in China in 2016 as the economy slows in the world’s largest consumer of the commodities used in everything from jet engines to cooking utensils, although there is some hope appetite will strengthen later in the year. – more

    Anglo American Completes Barro Alto Furnace Rebuilds Ahead Of Schedule – Anglo American completed the rebuild of its two electric furnaces at its nickel operation in the Barro Alto city, Goiás state, Brazil almost two months ahead of schedule, the company said in its e-mail to SMM. – more

    Nickel to rise nine percent next year, copper to end four years of falls: GFMS – Nickel prices will lead the base metals complex to gain 9 percent next year following dramatic falls this year, with supply constraints meeting strong consumption as China’s economy avoids a hard landing, consultants GFMS said on Thursday. – more

    What is stainless steel application? – In metallurgy, stainless steel, also known as inox steel or inox from French “inoxydable”, is a steel alloy with a minimum of 10.5% chromium content by mass. – 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, October 9

• Three month nickel closed Thursday’s trading session at $4.63/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.25/lb higher, and trading around the $10,750 tonne level. Stockpiles of nickel stored in LME approved warehouses fell by over 2000 tonnes for the fourth consecutive session and now stand just under 441,500 tonne level. Nickel is up thanks to a big jump in zinc prices, coming after Glencore announced a big cut in zinc production, and the base metal rally that followed, forced shorts to cover their bets. Many traders are heading to LME Week to be held next week and do not want to be exposed to any sudden turns in the market while they are in a conference. Typically, little happens during LME Week, but we don’t expect today’s increase to stick. We have been wrong many times before but the market has little to justify a bullish turn. Have a safe and relaxing weekend.  
• Average price of cash nickel so far this month – $4.56/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 – Zinc soars 10 pct, fuelling metals surge after Glencore cuts output – more

  Reports

• The tough environment for commodities persists – 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
• Global stocks eye biggest rally in four years on Fed relief – more
• Miner Rally Going Strong Boosts European Stocks for a Sixth Day – more

    LMEWEEK-China base metal demand to inch up next yr, may pick up in H2 – Most base metals will face tepid demand in China in 2016 as the economy slows in the world’s largest consumer of the commodities used in everything from jet engines to cooking utensils, although there is some hope appetite will strengthen later in the year. – more

    China base metal demand to inch up next yr, may pick up in H2 – Most base metals will face tepid demand in China in 2016 as the economy slows in the world’s largest consumer of the commodities used in everything from jet engines to cooking utensils, although there is some hope appetite will strengthen later in the year. – more

    Global nickel market seen in 23 000 t deficit in 2016 – INSG – The global nickel market should swing into a 23 000 tonne deficit in 2016 from a small surplus in 2015, the International Nickel Study Group (INSG) said on Wednesday, predicting that Chinese customers would drive an increase in nickel use. – more

    Goldman lowers 2016 price forecasts for nickel, zinc, lead – Goldman Sachs on Thursday slashed its 2016 price forecasts for nickel, zinc, and lead by more than 20 percent, primarily citing challenges to Chinese metals and mining demand. – more

    Nickel to rise 9 percent next year, copper to end four years of falls: GFMS – Nickel prices will lead the base metals complex to gain 9 percent next year following dramatic falls this year, with supply constraints meeting strong consumption as China’s economy avoids a hard landing, consultants GFMS said on Thursday. – more

    Forecast on Demand for Special Steel During October to December 2015 = Down by 9% from year-earlier period, and demands for auto and energy industries are weak = The Ministry of Economy, Trade and Industry made clear its forecast on the demand for special steel products during October to December in 2015 in its lecture made in the meeting held on October 5 by Special Steel Association of JAPAN. – 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 8

• Three month nickel closed Wednesday’s trading session at $4.61/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.01/lb lower, but off earlier session lows. Stockpiles of nickel stored in LME approved warehouses fell over 2000 tonnes for a third consecutive session and now totals just under the 443,600 tonne level. China markets bounced when they opened as we expected, but nickel isn’t biting into the optimism just yet. After three consecutive sessions of growth the first three sessions of the month, LME stockpiles have fallen by large amounts the last three sessions. Cancelled warrants show interest but it appears much of the sold nickel is being bought by one trader.  
• Average price of cash nickel so far this month – $4.57/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 on fund selling as China worries mount – 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
• Asia flags but China stocks jump in catch-up after long break – more
• China’s crude steel output remains weak – more

    Tumbling nickel prices eat into miners’ profits, but turnaround could be in sight – Tumbling nickel prices are eating into miner profits with about 60 per cent of global producers now losing money — but one investment bank believes there is a turnaround in sight. – more

    Nickel price to double: analyst – The price of nickel will almost doubt to $US20,000 a tonne by March 2017, according to investment bank and corporate advisor Alto Capital. – more

    Thomson Reuters Publishes GFMS Base Metals Review & Outlook – In the run up to LME Week 2015, which kicks off on Monday 12th October 2015, the GFMS research team at Thomson Reuters publishes updated price forecasts for the base metals complex. – more

    Amec calls for belt-tightening in nickel sector – Nickel miners will need to continue their focus on cutting costs if they are to emerge from the low price environment ready to drive a new wave of exploration and development once prices improve, the Association of Mining and Exploration Companies (Amec) says. – more

• ‘Future still bright for Nickel West’ – BHP Billiton nickel boss Eddy Haegel says struggling Nickel West needs to develop a “junior miner mindset” to survive the nickel price crisis and thrive in the future. – more

    Production of Stainless Steel Products in July 2015 Is 231,194 Tons = Up by 3% from prior month, and production of Cr-type and Ni-Cr-type is up = The Ministry of Economy, Trade and Industry announced the production volume of stainless steel products (hot-rolled products) in July 2015 was 231,194 tons, which was up by 2.9% from the prior month and down by 3.2% from the year-earlier month. – more

    BHP to cut 37 jobs at Kambalda concentrator  – Mining giant BHP Billiton will cut some 37 staff from its Kambalda concentrator, in Western Australia, as third-party providers cut ore supply. – more

    Courtesy AISI – In the week ending October 3, 2015, domestic raw steel production was 1,727,000 net tons while the capability utilization rate was 72.2 percent. Production was 1,862,000 net tons in the week ending October 3, 2014 while the capability utilization then was 77.4 percent. The current week production represents a 7.3 percent decrease from the same period in the previous year. Production for the week ending October 3, 2015 is down 0.5 percent from the previous week ending September 26, 2015 when production was 1,735,000 net tons and the rate of capability utilization was 72.6 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

Wednesday, October 7

• Three month nickel closed Tuesday’s trading session at $4.62/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.11/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total 446,400 tonnes. Nickel is starting to trade higher, as equity markets find some life. China re-opens for business tomorrow after  a week long holiday and in an effort to catch up with Hong Kong markets, we could see a big increase, which could carry over to the rest of the world. Then again, who knows what will happen. For today, optimism is sneaking back in.
• Average price of cash nickel so far this month – $4.55/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 in thin trade, China holiday end nears – more

  Reports

• INSG October 2015 Meetings Press Release – pdf here
• Sucden Metals Market Report – October 2015 – pdf here
• 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
• 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
• (Tweet) Global nickel output expected to decrease to 1.942 mln t in 2016, vs 1.954 mln t in 2015, according to Internation Nickel Study Group

    Western Areas cuts spending to counter low nickel prices – Western Areas, one of Australia’s largest nickel producers, says it will delay $32.6 million of planned investment to counter low prices of the industrial metal. – more

    Sherritt Announces Ambatovy September Monthly Production Update – Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX: S) announced today the September 2015 production and pressure acid leach (PAL) throughput results for the Ambatovy Joint Venture. – more

    Durango Looking at Additional Labrador Nickel Prospects – Durango Resources Inc. is looking at other prospects with positive historical results in and around the Voisey’s Bay area. – more

    Russian Miner Norilsk Nickel Issues Dollar Bond – Metals miner is first Russian company to borrow U.S. dollars in nine months – 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, October 2

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

• Three month nickel closed Thursday’s trading session at $4.57/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.02/lb lower, and showing little enthusiasm to do much of anything. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and now totals just shy of the 453,250 tonne level. Nickel continues to drift and taking cues from the equity markets. Until the worlds stock markets figure out if their bear markets are over, nickel could continue to flounder.
• Average price of cash nickel so far this month – $4.71/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 poised for weekly gain; China demand concerns remain – 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

    Mwana approves name change to Asa Resources, says to go global – Mwana Africa’s board approved a proposal to change the company’s name to Asa Resource Group Plc at the annual general meeting in London on Tuesday as it moves to spread its interests beyond the continent. – more

    Norilsk Nickel To Benefit From The Volkswagen Emissions Scandal – Norilsk Nickel may benefit significantly from the Volkswagen emissions scandal. – 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 1

• Three month nickel closed Wednesday’s trading session at $4.69/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME appored warehouses rose on Wednesday and ended the month of September just over 452,634 tonnes and 1,410 tonnes lower than it ended the prior month. For a second day, European markets are trading higher, with US futures sharply higher for a second day, with nickel tagging along.
• 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 up as China PMI sparks stimulus hopes, short-covering – 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
• (Reuters) SNC-Lavalin said on Wednesday it has exercised its option to sell its 5 percent stake and the balance of its loans in the Ambatovy Nickel project in Madagascar to Japan’s Sumitomo Corp for approximately C$600 million (US$451 million) in cash.
• West Virginia trial starts for mine exec in deadly 2010 blast – more

    What Ails Glencore Ails the World Economy as Supercycles Reverse – Is a canary for the global economy to be found down one of Glencore Plc’s mines? – more

    Negative outlook for nickel leads Norilsk to cut spending – GMK Norilsk Nickel, Russia’s largest mining company, plans to cut investment and freeze some projects because it sees the risk of the metals prices remaining low. – more

     Nickel Deficit Diminishing – Several indicators suggest the expected supply deficit in the nickel market is diminishing. A lack of output discipline, weak demand and rising inventories are keeping prices low. – more

     Fear and loathing as LME mulls position limits: Andy Home – Sometimes revolutions start with a bang. But more often than not they grow out of a small change that is barely noticed at the time. – more

     Axiom Mining maiden nickel resource brings first sales closer – Axiom Mining draws closer to its goal of shipping ore by the end of this year with the estimation of a maiden Resource of 4.8 million tonnes at 1.3% nickel and 0.08% cobalt for its Isabel Nickel Project, Solomon Islands. – more

    Standing up to harmful industries: conference participants find economic crisis is environmentalists’ strange bedfellow – Recent experience trying to stop environmentally harmful activities offers little comfort, Russia’s ecological activists noted as they exchanged battle stories from dealing with the diverse problems in Russia’s regions at Bellona’s 5th annual conference, “The Ecology of Russian Cities/ Public Initiatives.” – more

    Courtesy AISI – In the week ending September 26, 2015, domestic raw steel production was 1,735,000 net tons while the capability utilization rate was 72.6 percent. Production was 1,878,000 net tons in the week ending September 26, 2014 while the capability utilization then was 78.1 percent. The current week production represents a 7.6 percent decrease from the same period in the previous year. Production for the week ending September 26, 2015 is up 1.7 percent from the previous week ending September 19, 2015 when production was 1,706,000 net tons and the rate of capability utilization was 71.4 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

September Archives

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

“A Guide To LME Trading”…pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated daily before 8 am CST weekdays – Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note – For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.