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

Friday, February 28

• Dow Jones reports three month nickel closed Thursday’s trading session at $6.55/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.07/lb higher with other base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses fell for a second day on Thursday and now total just over the 270,600 tonne level. Nickel broke away from the pack yesterday and is continuing its run higher today, thanks in part to a weaker US Dollar. We think some of this might be explained by a weak technical signal, which may not be so weak to computer trades. $6.42/lb, in hindsight, could be seen as a very weak point of support, and now that nickel is bounced off that level, it could be argued that it was not as weak as it appeared prior to the bounce. Regardless, if nickel holds on for the day, it will close on the upside for the week, and end the month having gained over $25/lb. We have world PMI releases to start next week, but in US reports today, we will get Chicago PMI, pending home sales, consumer sentiment, and fourth quarter 2013 GDP numbers. Have a safe and relaxing weekend.
• Average price of cash nickel so far this month – $6.43/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Nickel Reaches One-Week High on Speculation Supply to Tighten – more

  Reports

• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.08
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more

    China’s Nickel Ore imports from Indonesia may collapse in February: Barclays – Despite the January 12th ban on ore exports, Chinese imports of nickel ore were strong in January, up 48% y/y, with a 55% y/y increase in imports from Indonesia. – more

    RPT-In metal warehouse overhaul, pressure shifts from LME to regulators – A series of public and private meetings between the London Metal Exchange and its staunchest critics in the United States has revealed a small but significant shift in a years-long crisis over the exchange’s warehousing policy, sources said. – more

    Brazil’s Vale Sees Ebitda In Base-Metals Division Surging – Brazilian mining company Vale SA expects cash generation from its base-metals division to roughly quadruple through next year as new copper and nickel operations ramp up and an Indonesian export ban drives prices higher, a company executive said Thursday. – more

    Vale vows spending austerity as metals price outlook improves – Vale SA , the world’s largest iron ore producer, will continue reining in costs this year even as the outlook for prices and sales volumes is improving, its chief executive officer said on Thursday. – more

    PolyMet mine environmental review’s comment period not extended – The comment period on an environmental review of what would be Minnesota’s first copper-nickel mine will not be extended past March 13, the state Department of Natural Resources said Thursday. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, February 27

• Dow Jones reports three month nickel closed Wednesday’s trading session at $6.45/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.01/lb lower, with other London traded base metals trading slightly lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under 270,700 tonnes. Technicals are sending few directional signals for nickel traders and momentum continues to remain neutral. IN equity trades, Asian markets ended higher overnight, European markets are trading lower this morning, and US Dow futures are lower as well. The popular uprising in Ukraine continues to concern traders, with Russia’s intervention in Georgia in years past, fresh in many minds. Economic signals out of the US remain mixed, and while the majority are positive, there is a pessimistic tone that can not be shaken.     
• Average price of cash nickel so far this month – $6.43/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Trades Near December Low With Production Set to Expand – more

  Reports

• US Imports of Stainless Steel Mill Products – more
• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.09
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (SSY) According to the latest World Steel Dynamics€™ Steelbenchmarker, the world export price for hot rolled band fell slightly in the second half of February 2014, down $2/t in the last two weeks to $560/t. EU and Chinese HRB prices declined by $6/t and $7/t, to $599/t and $467/t respectively. This is the lowest Chinese HRB price since mid-September 2012. Meanwhile, US HRB prices also fell sharply, down $14/t to $722/t.

    New Caledonia nickel mine fined after acid spill – A landmark decision by the court of appeal in New Caledonia has found against the Vale Nickel company after a major acid spill damaged a UNESCO listed World Heritage lagoon. – more

    Another political party supports National Park at planned mine – Al-Pais minority party president Guillermo Moreno on Wednesday slammed president Danilo Medina’s “ambiguous position” regarding Xstrata Nickel’s planned mine at Loma Miranda (central) and demands declaring it eminent domain. – more

    China Steel Raises April-May Domestic Prices by Average 0.37% – China Steel Corp. said Wednesday it will raise its local steel product prices slightly for the April-May period, citing a better outlook for demand in the second quarter. – more

    Vale Posts Record $6.45 Billion Loss on Tax Deal, Writedown – Vale SA, the world’s largest iron-ore producer, posted a record quarterly loss after settling a decade-long tax dispute and writing down the value of an asset in Argentina amid slowing Chinese demand. – more

• Vale’s earnings slump steeply amid sharp drop in nickel prices – more

    ERAMET Group’s Production and Sales in 2013 – On February 21, ERAMET Group, France announced its production and sales volumes in the calendar year 2013 as well as in the period from October to December in 2013. – more

    Tonnage grows for Duluth Metals in Minnesota – Duluth Metals of Toronto has increased the metal content as well as the tonnage of the resources in four deposits at its Twin Metals project in the northeast part of the state. – 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 reports and information free of charge. Contact us

Wednesday, February 26

• Dow Jones reports three month nickel closed Tuesday’s trading session at $6.48/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals slightly higher as well. Stockpiles of nickel stored in LME approved warehouses saw its second largest one day increase of 2014 and set a new all time record high of 270,882 tonnes. For the few that were forecasting the Indonesia ore ban could mean immediate shortages in China, nickel stockpiles having set five new record highs so far this month, must be distressing. Very quiet on the news front this morning. None of the wires have published morning reports on action at the LME, something we rarely see. Nickel closed below its 10 day moving average for a second day yesterday, and for a second day, the traded price closed above the 30 day moving average. The short term trend has turned neutral, with no clear technical signals being sent. In overnight trading, Asian markets ended d lower, European markets are trading lower this morning, and US Dow futures are slightly positive. Metals look to trade quietly for the remainder of the day.
• Average price of cash nickel so far this month – $6.43/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)

  Reports

• Steel Founders’ Society Of America February 2014 Casteel Reporter – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.14
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (BNA) Brazilian stainless steel production rose 6.3% to 354,000t in 2013, according to stainless steel association Abinox.

    China metal imports boom a very mixed blessing: Andy Home – China imported record amounts of iron ore, nickel ore and bauxite in January. Imports of refined copper were the second-highest on record, while those of refined zinc were the fourth-highest. – more

    Dominican Republic official: ‘Yes, but’ to Xstrata Nickel’s planned mine – Presidency Administrative minister Jose Ramon Peralta said Tuesday he supports “responsible mining” at Loma Miranda (central), but only if it isn’t done in that manner, otherwise “it will do more damage than good.” – more

• March in Central Mountain town supports Xstrata Nickel mine – Dozens of people marched through some of the city’s busiest streets Tuesday to support Xstrata Nickel Falcondo’s planned controversial mine at Loma Miranda. – 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 reports and information free of charge. Contact us

Tuesday, February 25

• Dow Jones reports three month nickel closed Monday’s trading session at $6.52/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mixed and mostly quiet. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just over the 268,450 tonne level. Back in February of 2012, nickel was trading in the $9/lb range. Vale is forecasting the traded price of nickel could return to these levels next year. Stainless steel surcharges for March have been posted here. Nickel trading has been fairly subdued so far today, and it looks like it could be a quiet day.
• Average price of cash nickel so far this month – $6.43/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Extends Losses on Weaker Yuan, Tighter Property Financing – more
• Reuters metals morning – Copper falls for second day as China worries resurface – more

  Reports

• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.22
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (LG) Stainless Steel Council of China Special Steel Enterprises Association announced China’s production of stainless crude steel in the calendar year 2013 (January to December) was 18.984 million tonnes up by 18.0% from the prior year.
• Pacific Ocean expected to warm – more

    Vale Sees Nickel Over $20,000 a Ton on Indonesia Ban – Nickel will climb significantly in 2015 and may advance to more than $20,000 a metric ton in the next few years because of Indonesia’s ban on ore exports, said Vale SA , the world’s second-biggest producer. – more

    China’s steel sector troubles can’t be solved easily – CISA – China’s steel industry will not see a quick end to its troubles as overcapacity has reached staggering proportions and structural adjustments to the economy have complicated the sector’s situation, the nation’s top steel association said. – more

    NICKEL: Celebration marks opening of Vale’s Totten mine in Sudbury – Vale celebrated what its calls its first new mine near Sudbury in over 40 years – the 2,200-t/d underground Totten nickel-copper mine – last Friday, Feb. 21, 2014. – more

    Courtesy AISI – In the week ending February 22, 2014, domestic raw steel production was 1,831,000 net tons while the capability utilization rate was 76.3 percent. Production was 1,875,000 net tons in the week ending February 22, 2013, while the capability utilization then was 78.3 percent. The current week production represents a 2.3 percent decrease from the same period in the previous year. Production for the week ending February 22, 2014 is down 0.8 percent from the previous week ending February 15, 2014 when production was 1,845,000 net tons and the rate of capability utilization was 77 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 reports and information free of charge. Contact us

Monday, February 24

• Dow Jones reports three month nickel closed Friday’s trading session at $6.51/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickle store din LME licensed warehouses fell for a fourth day on Friday and ended last week just over 268,150 tonnes. Asian markets ended mostly lower overnight on China property curb fears, European markets are trading mostly higher on better than expected German business confidence data, and US Dow futures are higher at the moment. Nickel is showing some signs it may have peaked out last Wednesday, contrary to the technical signal that was sent that day. The Euro is stronger this morning but base metals are trading lower on demand concerns, this nervousness caused by Chinese property concerns. China steel recorded a decline in production in January, its first drop in 17 months.
• Average price of cash nickel so far this month – $6.43/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Declines Most in a Month on China’s Slowing Demand – more

  Reports

• Ak Steel March Stainless Steel Surcharge – pdf here
• Allegheny Ludlum March Stainless Steel Surcharge – pdf here
• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.24
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• China Nickel Imports and Exports Data January 2014 – more
• (SSY) According to the World Steel Association, January 2014 recorded the first annual fall in Chinese steel production since August 2012, down 3.2% to 61.6 Mt.
• Poseidon Nickel raises $3.8M for Mt Windarra pre-production work – more

    Vale ‘Not in Hurry’ in Over Canada Glencore Negotiations – Vale SA, the world’s second-biggest nickel producer, said it’s not in a rush to reach an agreement with Glencore Xstrata Plc to combine operations in Canada’s Sudbury basin.- more

    Indonesia to ease export tax, 1st rollback of mining rules – Indonesia will ease a controversial tax on mineral concentrate exports for firms that build smelters in the country, in the first rollback of new rules that have caused its mining industry to grind to a halt. – more

• Indonesia may eliminate mineral export tax for smelter-building firms – Indonesia’s government will consider eliminating a controversial tax on exports of mineral concentrates for companies that build a smelter in the Southeast Asian country, a senior government official said on Monday. – more

    Stainless Crude Steel Production by Major SUS Mills in Dec. 320,009 Tons =Up by 9% from prior month and production in CY2013 is 3.63 million tons, up by 3% from prior year= The stainless crude steel production by 7 major stainless steel mills in December 2013 was 320,009 tons, up by 8.6% from 294,556 tons of the prior month. – more

    Accent: Sudbury’s Totten a space-age mine – In major mining centres, the opening of a new mine is no small feat. Especially when that mine is a company’s first to open in the area in more than four decades – and took seven years to get production-ready. – 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 reports and information free of charge. Contact us

Friday, February 21

• Dow Jones reports three month nickel closed Thursday’s trading session at $6.51/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.04/lb higher, with other London traded base metals trading mixed and mostly quietly. Stockpiles of nickel stored in LME licensed warehouses fell for a third consecutive session on Thursday and now total just over the 268,700 tonne level. Cancelled warrants jumped yesterday and were over the 45% mark yesterday. US stocks ended higher yesterday after U.S. manufacturing activity jumped to its highest level in nearly four years. Asian markets ended higher overnight, European markets are trading higher at the moment, and US Dow futures are trading higher this morning. Nickel looks to close higher for the fourth consecutive week, but has yet to reach where it was trading that fifth week back. $6.64/lb remains major resistance and the short term trend remains positive. Have a safe and relaxing weekend.
• Average price of cash nickel so far this month – $6.42/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Falls on Concern China Factories Indicate Weaker Demand – more
• Reuters metals morning – Copper edges down; mixed China data clouds outlook for demand – more

  Reports

• Steel Statistical Yearbook 2013 – pdf here
• January 2014 crude steel production – more
• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.27
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• Macquarie Commodities Research Commodities Comment – In today’s report we look at the nickel supply/demand balance in detail to assess the impact of a full ban. The conclusion is that in the case of a full ban, a massive nickel deficit would start from end-2014 onwards and that by 2016, LME and producer nickel inventories would be lower than in 2006/07 when nickel prices were trading in the $20-50,000/t range. We now think that as early as mid-2014, a full ban could lead prices rally strong above $15,000/t towards $20,000 by end-2014.
• China world’s biggest luxury consumer – more
• El Nino threatens to return, hit global food production – more

    Nickel Set for 3rd Weekly Rise on Indonesia Ore Ban – Nickel headed for a third weekly advance on speculation that a global surplus will shrink amid a ban on exports of unprocessed ore in Indonesia and as U.S. manufacturing beat estimates. – more

    Production of Stainless Steel Products in December 2013 Is 252,829 Tons =Up by 10% from prior month, and production of Ni-type returns to level before Lehman Crisis= On February 17, the Ministry of Economy, Trade and Industry announced the production volume of stainless steel products (hot-rolled products) in December 2013 was 252,829 tons, which represented an increase of 9.9% versus the prior month and an increase of 17.4% versus the year-earlier month. – more

    Eramet sinks to loss on nickel woes, delays Indonesia mine – French mining group Eramet postponed its flagship nickel mine project in Indonesia on Friday as it posted a full-year loss after being hit by low nickel prices. – more

    Four firms face suspensions over nickel contamination in Zambales town – Four mining companies may have their operations suspended over nickel contamination in the town of Sta. Cruz in Zambales since last year. – more

    Ring of Fire needs federal, Ontario help: study – The federal Conservatives should make the Ring of Fire a national priority and take a “more active role” in developing the mineral-rich region in northern Ontario, which could yield billions in tax revenues and economic activity, a new report recommends. – more

    Courtesy AISI – In the week ending February 15, domestic raw steel production was 1,845,000 net tons while the capability utilization rate was 77 percent. Production was 1,875,000 net tons in the week ending February 15, 2013, while the capability utilization then was 78.3 percent. The current week production represents a 1.6 percent decrease from the same period in the previous year. Production for the week ending February 15, 2014 is up .3 percent from the previous week ending February 8, 2014 when production was 1,839,000 net tons and the rate of capability utilization was 76.8 percent. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

Thursday, February 20

• Dow Jones reports three month nickel closed Wednesday’s trading session at $6.58/lb  Indicators at 6:40 am CST today show 3 month nickel trading around $.07/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME licensed warehouses fell for a second day on Wednesday and now total just over the 269,200 tonne level. Negative preliminary PMI numbers from Europe, and mostly China, are sending metals lower today. Yesterday’s Fed release of its last meeting notes showing uncertainty and disagreement over the future of its stimulus has bumped up the US Dollar, and this is adding further pressure on metals. For nickel, the news that Japan may take Indonesia to the World Trade Organization over its mineral ban, coming on the same day that news has leaked China is apparently sending a trade delegation to Indonesia to discuss the same matter, implies that these two countries are very concerned over the long term effects of this ban. When today’s negative PMI numbers are forgotten, this news could easily boost nickels traded price. We still see major resistance at $6.64/lb.
• Average price of cash nickel so far this month – $6.41/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Falls Most in a Week After Chinese Manufacturing Shrinks – more

  Reports

• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.35
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• China stainless steel price will mainly be stable in Q1 2014 – more
• Copper’s Antimicrobial Campaign Sees Slow Progress – more
• Antibacterial stainless steel created – more

    China may send delegation on metals investments to Indonesia – sources – Beijing is organising a delegation of Chinese companies that have plans to build metals plants in Indonesia, in a first sign the government may be concerned over ore supplies because of the Southeast Asian country’s mineral ore export ban. – more

    Japan May Take Indonesia to WTO Over Mineral Export Ban: Media – Japan is considering taking Indonesia to the World Trade Organization over a ban on exports of mineral ores that has curtailed supplies for industry, senior government officials said on Thursday. – more

    Xstrata Nickel flap: Prominent group wants mining chief fired – One of Dominican Republic’s most prominent civil society organizations on Wednesday called for the immediate resignation or dismissal of Mining Agency director Alexander Medina, describing him as a sort of “Trojan Horse” and an enemy of the Dominican people for his alleged defense of corporate, purely foreign interests and above the collective interest, for openly promoting Loma Miranda’s exploitation. – more

    Market Trend of Import of Ferroalloy as of 14 February 2014 =Market trend after Chinese New Year varies according to commodities. Upward trend for SiMn= Market trend of import of ferroalloy as of 14 February 2014 is as follows. – more

    Nickel: Sherritt output up, earnings down for 2013 – Sherritt International pledged to focus on its core nickel business last year as evidenced by its decision to get out of coal mining. – 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 reports and information free of charge. Contact us

Wednesday, February 19

• Dow Jones reports three month nickel closed Tuesday’s trading session at $6.56/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals trading mixed and quiet. Stockpiles of nickel stored in LME approved warehouses slipped on Tuesday and now total just over the 269,250 tonne level. Nickel closed above minor resistance for a second day, sending a technical signal that major resistance of $6.64/lb could be the next target. Deadly protests in Ukraine, Thailand and Venezuela are overshadowing the peaceful world gathering at the Sochi Olympics. So far, noe of this conflict has sent investors scurrying for the US Dollar, which is trading around a 4 week low. Should that happen, we could see nickel’s momentum come under pressure. Asian markets ended mostly higher overnight, European markets are trading lower after a worse than expected employment report from the UK, and US Dow futures are lower at teh moment. China’s steel output in February is running higher than 2013, after a disappointing January. Stainless steel index prices in China continue to move lower, although we expect that to turn around any day now.
• Average price of cash nickel so far this month – $6.40/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Nickel Reaches Three-Week High on Buying to Close Bearish Bets – more

  Reports

• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.52
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (OS) Reuters poll: average nickel price expected for 2014 USD 14,774.20/mt, for 2015 an increase of 10% or USD 16,172.00/mt. Indonesia not yet taken into account in the forecast.
• (SSY) According to the China Iron and Steel Association, the daily rate for Chinese crude steel output for 1-10 February 2014 was 2.060 Mt, up from 1.659 Mt in the period 21-31 January. This marks an improvement on the daily output of 1.989 Mt for the same period in February 2013.

    China’s Production of Stainless Crude Steel 18.984 Mil. Tons in 2013 =Up by 18% from prior year, and production of both Cr and Ni alloyed stainless steels increases sharply= Stainless Steel Council of China Special Steel Enterprises Association announces China’s production of stainless crude steel in the calendar year 2013 (January – December) was 18.984 million tons, up by 18.0% from the prior year. – more

    2014 Starts Even – Monthly shipments of steel and aluminum in both the United States and Canada began 2014 with small gains or losses from January 2013. Inventory levels were improved from December, however. – more

    Miners digging deep for a new global strategy – Weak commodity prices, a shifting investment environment, and problems with governments and workers prompt Chinese mining companies to slow their expansion abroad, reports Du Juan from Tianjin – more

• Outbound mining M&As to rebound: Experts – China’s outbound mergers and acquisitions in the mining sector sank to decade lows last year in terms of deal numbers and volume, affected by domestic policy shifts and a weak economy, but an upturn is due this year, experts said on Tuesday. – 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 reports and information free of charge. Contact us

Tuesday, February 18

• Dow Jones reports three month nickel closed Monday’s trading session at $6.51/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.04/lb higher, with other London traded base metals trading mixed and mostly quietly. Stockpiles of nickel stored in LME approved warehouses returned to its record breaking run, setting a new record high of 269,388 tonnes on Monday. A second consecutive close above $6.47/lb today could put nickel on track to test next resistance of $6.64/lb. That is the technical signal. Nickel appears to be benefitting primarily from a weaker US Dollar, and the return of China to work, and the ever present optimism amongst some traders, that a resurgence in China demand will drive nickel prices higher. In reality, that resurgence has yet to materialize. Steel production was down in China in January, and record iron ore imports are being held for credit purposes, and not being used due to steel demand. That is not to say the sky is falling. Even when it slows, steel production in China remains staggering. Of China metals analysts who participated in a weekly poll this past weekend, 46% forecast nickel prices would rise, 51% forecast the price would fall, with the balance forecasting no change. Asian markets ended higher overnight, European markets are trading sharply higher this morning, and US Dow futures remain higher.
• Average price of cash nickel so far this month – $6.39/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Declines as Top User China’s Central Bank Drains Funds – more

  Reports

• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.63  
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (SSI) Global use of molybdenum in the third quarter of 2013 was 134.1 million pounds, up just over 1% from 132.2 million pounds in the previous quarter, figures released today by the International Molybdenum Association (IMOA) show. Global production fell slightly to 129.3 million pounds, down 2% from 132 million pounds in the previous quarter.
• (CW) The European Commission has notified the World Trade Organization (WTO) of its intention to amend the 2009 EU Directive on the safety of toys to extend an existing exemption for nickel. Currently, even though it is a Category 2 carcinogen, use of the metal is permitted in stainless steel in toys. Following safety advice from its Scientific Committee on Health and Environmental Risks, the Commission now proposes to extend this permission, to include nickel in “parts of toys allowing the correct electrical function of toys”. The Commission notified the WTO last Friday.
• (SSY) China Iron and Steel Association data puts Chinese crude steel output for 12-31 January 2014 at 1.659 Mt, down from 2.007 Mt in the period 11-20 January. This compares with a daily output of 1.906 Mt for the same period in January 2013.
• Leading stainless steel suppliers to Russia in 2013 – more
• China’s FDI inflow rises 16.11% in January – more

    Credit not steel, China’s new use of iron ore props up demand – Chinese steel mills and traders are buying more iron ore to use as collateral to secure loans, helping imports and stocks of the raw material defy expectations for a slowdown in demand by the world’s biggest consumer. – more

    Panoramic soars on nickel discovery – Shares in nickel miner Panoramic Resources have soared on news of a major discovery at its Savannah North project in the East Kimberley. – more

    New Caledonian documentary balances economics and tradition – The challenge of balancing economic development and traditional values is something that confronts many Pacific island communities. – more

    Scientists warm over coming era of deep sea mining – The last great unexplored wilderness on Earth is about to experience industrial-scale mining that could change the face of the pristine seabed of the deep ocean for generations to come, scientists have warned. – 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 reports and information free of charge. Contact us

Monday, February 17

• Dow Jones reports three month nickel closed Friday’s trading session at $6.46/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.07/lb higher, with other London traded base metals trading higher as well. Stockpiles slipped for a second consecutive day and now total 268,800 tonnes. Cancelled warrants total nearly 43%. World equity markets are trading higher today on higher earning reports. The China credit party, which was supposedly going to have the brakes put on this year, appears to be still going strong, and this has traders encouraged as well. Nickel has punched thru minor resistance this morning and it remains to be seen where it will close. It’s President’s Day in the US, and government offices are closed.
• Average price of cash nickel so far this month – $6.38/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Advances With Base Metals on China’s Record New Credit – more
• Reuters metals morning – Copper climbs further as China worries fade; nickel up – more

  Reports

• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.67
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (CFI) China’s Baoshan Iron & Steel, the country’s biggest listed steelmaker, has recently announced to raise prices for its main products in March, the third increase this year, it said on Feb. 12. The company will raise prices of most steel products for March delivery by 50-80 yuan a tonne, with cold-rolled coil up 50 yuan a tonne, while prices of hot-rolled coil keeps unchanged.
• Matsa Resources expands nickel, copper targets at Symons Hill – more
• US AIIS Steel Exports Decline in December – pdf here
• US AIIS November Import Press Release – pdf here

    Indonesia does not see concentrate export permits until March at the earliest – Indonesia does not expect to approve any export permits for mineral concentrates until next month at the earliest, a senior government official said on Monday, keeping one of the world’s biggest mining industries at a standstill. – more

    Chinese steel product exports surged 38% in Jan, steel outlook stable: CISA – According to latest statistics released by the China Iron & Steel Association (CISA), the country’s exports of steel products surged 37.6% year-on-year in January. – more

    China Ore Stockpiles Rise to Record on Financing Deals – Iron ore stockpiles in China, the world’s biggest buyer, climbed to a record as traders increased imports to use the steel-making raw material as collateral for credit and domestic demand remained weak. – 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 reports and information free of charge. Contact us

Friday, February 14

• Dow Jones reports three month nickel closed Thursday’s trading session at $6.44/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.05/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses retreated off its most recent record high on Thursday and now totals just under the 269,000 tonne level. Base metals are getting a nudge higher from a weaker Dollar this morning, but little else is motivating nickel trading, from what we can see. Asian markets ended higher overnight, European markets are trading higher this morning, and US Dow futures are slightly higher. The US Dow ended higher on better than expected earnings reports, but the economic news was not as bright, and thus the weakness in today’s Dollar. US traders are also starting to place their bets that the negative news in the economy and the testimony of new Fed Chairman Yellen earlier this week, might mean the Fed could back off on its tapering in future meetings.
• Average price of cash nickel so far this month – $6.37/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)

  Reports

• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.67
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (SSY) According to the latest SteelBenchmarker published by World Steel Dynamics, the world export price of hot rolled band edged down by $2/t from end-January to $562/t, which compares with the year-ago level of $592/t.
• Anglo Profit Falls 7% Amid $1.9 Billion Asset Writedown – more
• ThyssenKrupp’s Q1 profit buoyed by Brazilian improvement – more

    Supply of Nickel in 2014 to Be Strongly Supported by New Projects =Production is planned to be increased by 5 new projects= The Government of Indonesia implemented the export ban on nickel ore from January 12, and although the price of nickel rose a few days prior to implementation, the impact to the nickel market disappeared in a week or so after the implementation took place. – more

    China Ferrochrome: Import price edges up to 84-85 cents/lb CIF – The spot price for South African charge chrome (48-52% Cr) imported into China was assessed by Platts at 84-85 cents/lb CIF China on Friday, up from 83-84 cents/lb CIF a week ago, following a deal closed in the range and higher price ideas from Chinese buyers. – more

    Warehouse firms walk away from reforming London Metal Exchange – A bid by the London Metal Exchange (LME) to ensure clients can obtain aluminium faster from owners of warehouses in its global network risks eroding its function as the world’s top metals marketplace. – more

    Steel trade meltdown – Two big steel traders in Shanghai will face a series of lawsuits in the next few months, highlighting the mounting credit crisis in the steel trading sector. – 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 reports and information free of charge. Contact us

Thursday, February 13

• Dow Jones reports three month nickel closed Wednesday’s trading session at $6.51/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses rose to a new record high for a third consecutive session on Wednesday and now total 269,256 tonnes. Two years ago today, warehouses held 94,380 tonnes with 3.68% cancelled warrants. Cancelled warrants totaled over 112,000 tonnes today. While Indonesia once again confirmed they would enforce the nickel ore ban as it stands, some metal analysts continue to believe this will inevitably change. This is weighing on the traded price of nickel, which wants to climb higher on the ban, but this constant hum that Indonesia may change its mind, is keeping the price in check. Nickel is once again trading about its 10, 30, 100, and 200 day moving average and closed above our minor resistance line yesterday. Major resistance is still set up around $6.65/lb.
• Average price of cash nickel so far this month – $6.36/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Drops as China Said to Target Slower Growth in Exports – more
• Reuters metals morning – Copper eases as doubts emerge on strong Chinese trade data – more

  Reports

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.67
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more

    PLATTS ANALYSIS: Chinese growth, steel output may slow in 2014 – Chinese crude steel production surprised on the upside again in 2013 but this year has started slowly, raising the possibility that 2014 could see China’s economic growth and steel sector start to plateau. – more

    Debt worries cloud outlook for Finnish steel firm Outokumpu – Finnish stainless steel firm Outokumpu reported a higher debt ratio on Thursday, raising concerns over its cost of capital, even though it managed to trim underlying operating losses more than expected in the fourth quarter. – more

    Vale expects no increase – Jakarta-listed nickel miner Vale Indonesia expects flat growth in its nickel production this year amid uncertainty in the negotiation of its contracts with the government. – more

    Clive Palmer’s company Queensland Nickel not prosecuted over toxin discharge in Barrier Reef marine park – The Greens and environmental groups say they are alarmed authorities have not acted against Clive Palmer’s company Queensland Nickel (QNI) for discharging toxic material into the Great Barrier Reef marine park without permission. – more

    Department of Natural Resources sorts through 10,000 comments on proposed copper-nickel mine –  A proposed nickel and copper mine in northeastern Wisconsin has generated a mountain of public comments. – 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 reports and information free of charge. Contact us

Wednesday, February 12

• Dow Jones reports three month nickel closed Tuesday’s trading session at $6.43/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.09/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose to another all time record high for a second consecutive day and now totals 268,668 tonnes. China’s trade surplus in January jumped higher than expected, quieting fears that the Chinese economy may be slowing, and base metals are trading higher on the news. Chinese markets ended higher overnight, European markets are trading higher although the Euro just took a dip on news European industrial output fell more than expected in December, and the US Dow is quiet.
• Average price of cash nickel so far this month – $6.34/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)

  Reports

• IMF Primary Commodity Prices updated – more
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.70
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• Despite Good Data, Headwinds Await Indonesia’s Economic Growth – more
• Investment in Quebec’s mining sector dropped further than forecast – more
• February 2014 Report: Small Business Confidence Edges Up, Ever So Slightly – more

    China’s nickel ore, pig iron prices to rise further in near term: Macquarie – Prices of nickel ore and nickel pig iron in China are set to rise further in coming weeks, Macquarie Commodities Research forecast Tuesday in a report. – more

    Japan’s Import of Stainless Steel Scrap in December 2013 – The import statistics prepared by the Ministry of Finance Japan shows the import of stainless steel scrap in December 2013 by country in Table 1 and by discharge port in Table 2 respectively. – more

    Analyst points to improving nickel sector conditions – A business analyst says conditions are improving in the nickel sector but it is too early to declare that the industry has ‘bottomed out’. – more

    Royal Nickel Corp: Indonesian Ore Export Ban Opens Door to the Next Generation of Nickel Mines – Nickel prices have been weak, but the recent Indonesian government announcement banning ore shipments outside the country may be the shock that reverses the trend. – more

    Clive Palmer’s nickel refinery pumped toxic waste into Great Barrier Reef park – A nickel refinery owned by Clive Palmer has released toxic wastewater into the Great Barrier Reef marine park on several occasions despite being forbidden from doing so, government documents have revealed. – more

    Lawmaker accuses PolyMet as being a shell – A southwest Minnesota legislator claims the company proposing a northeastern copper-nickel mine is a shell corporation that does not have enough financial assets to assure that environmental problems it leaves could be cleaned up. – 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 reports and information free of charge. Contact us

Tuesday, February 11

• Dow Jones reports three month nickel closed Monday’s trading session at $6.42/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading quietly higher, Stockpiles of nickel stored in LME approved warehouses rose to a new all time record high on Monday, and now totals 267,138 tonnes. Cancelled warrants remain in the area of 40%. World markets are in a better mood today, and Asian markets ended higher overnight, European markets are trading higher today, and US Dow futures are higher. Lot of news links posted below so we will leave you with nickel still trying to decide what news China’s re-opening for business will do to demand.
• Average price of cash nickel so far this month – $6.33/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Nickel Falls on Concern Chinese Demand May Decline – more

  Reports

• Damstahl Stainless Steel Report – February 2014 – pdf here
• U.S. Exports of Stainless Steel Mill Products – more
• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.70
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• ENSO expected to remain neutral at least through autumn – more

    Nickel Climbs to Two-Week High on Indonesia Export-Ban Concerns – Nickel climbed in London to the highest in two weeks on mounting concern that Indonesia, the world’s biggest producer, won’t relax its ban on unprocessed-ore exports. – more

    USTKE demonstrates against New Caledonia tax bill for SMSP – Unionists in New Caledonia have held a demonstration outside the government building in Noumea in protest at a tax bill given to the SMSP nickel company. – more

    Cash is king as global miners get set to boost payouts – Aggressive cost cutting, volume growth and stable commodity prices will drive a rise in half-year profits for the world’s biggest miners, paving the way for healthy dividend hikes now and anticipated capital returns in 2015. – more

    Production Plan for Special Steel Products in Jan-Mar 2013 Is 5.2 Million Tons =Up by 11% from year-earlier period, and production for domestic is going well= On February 3, Ministry of Economy, Trade and Industry made clear the production plan for hot-rolled special steel products in the period from January to March in 2014. – more

    Nickel miner reveals improved outlook – Western Australian Wheatbelt nickel miner Western Areas has improved its outlook for production and costs for this financial year and flagged improved profits in its half-year results. – more

    Glencore grows production volumes in ‘key commodities’ in 2013 – Glencore Xstrata, the diversified miner and marketer of metals listed in London, Johannesburg and Hong Kong, grew production volumes last year in several key commodities, including copper, cobalt, ferrochrome and platinum group metals, it said on Tuesday. – more

    Ramu mine: Kurumbukari landowners angered – The Madang Provincial Government’s assurance of addressing issues and benefits concerning the Ramu NiCo Project has been questioned by the Tigina tribe in the Kurumbukari (KBK) area. – more

    Chinese steel futures fall to a record low – Chinese steel futures fell to a record low on Monday, before steadying in line with firmer equities, amid subdued demand that has trimmed buying interest for iron ore. – more

    European steel recovery remains fragile, says German industry body  – An expected recovery in the European steel sector could be derailed by fierce competition and rising raw material and energy prices, the German steel association warned on Tuesday. – more

    Courtesy AISI – In the week ending February 8, 2014, domestic raw steel production was 1,839,000 net tons while the capability utilization rate was 76.8 percent. Production was 1,875,000 net tons in the week ending February 8, 2013, while the capability utilization then was 78.3 percent. The current week production represents a 1.9 percent decrease from the same period in the previous year. Production for the week ending February 8, 2014 is up 1.9 percent from the previous week ending February 1, 2014 when production was 1,804,000 net tons and the rate of capability utilization was 75.3 percent.

    Win “timely” for New Caledonia film about nickel – The organiser of the the Pacific Documentary Film Festival, Miriama Bono, says the top winning film about nickel in New Caledonia is timely, as people there prepare to vote on their independence. – 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 reports and information free of charge. Contact us

Monday, February 10

• Dow Jones reports three month nickel closed Friday’s trading session at $6.42/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals trading mixed and quiet. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and ended the week with just under 265,700 tonnes. Nickel has approached an initial line of weak resistance – $6.48/lb and it si too early to tell how it will handle it. Major resistance will be near $6.70/lb. China returned to work today and we could see some volatility in the base metals market this week as traders jockey for position on news and rumors. Asian markets closed higher overnight, European markets are drifting this morning, and US Dow futures are slightly lower. A group of Chinese analysts forecast what the price of nickel would do this week. 73% forecast the price would fall, 20% predicted it would rise and the balance felt it will end the week flat. We will see.
• Average price of cash nickel so far this month – $6.28/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Nickel Climbs Amid Speculation Ore-Export Ban Will Lift Prices – more

  Reports

• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.77
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• Western Areas lifts nickel guidance – more
• New Caledonian film wins top prize at FIFO film festival – more
• China May Face Renewal of EU Fastener Tariffs Challenged at WTO – more

    Russia hits a new record in volumes of stainless steel imports – According to SpetsStal’s appraisal, the import of stainless steel in 2013, compared with 2013, rose 5.1% to 251.6 thousand tons. – more

    How to kill an industry in Indonesia – Indonesia’s exports of mineral ore are now at a standstill, with unprocessed bauxite and nickel the target of an outright ban and mining companies either refusing or unable to pay the draconian new export duty on copper and the other concentrates that were given a 12th-hour three-year extension. – more

    Cuba near completion of biggest diesel power plant – State utility Unión Eléctrica ompleted a trial run of the largest new fuel-oil power plant on the island, official media reported. – more

    Mining tax update – A quarterly review of tax developments and industry updates for the global mining sector. In this issue, we summarize alternative financing options, identify the needs of investors regarding reporting from mining companies, discuss the economic impact of gold on the global economy, provide an overview of a global gold, silver and copper price report, and update readers on the Dodd-Frank Act. – 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 reports and information free of charge. Contact us

Friday, February 7

• Dow Jones reports three month nickel closed Thursday’s trading session at $6.33/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose to within 30 tonnes of the record high and ended Thursday just shy of the 266,700 tonne level. Base metals in general, and nickel in particular, got a big jump in yesterday’s trading when the Euro jumped against the US Dollar. Nickel was already trading higher on news that the Indonesia government had affirmed its nickel ore ban. The Euro is trading off yesterday’s highs today, but base metals are maintaining their positive momentum. Markets are watching the US January jobs report today closely and markets are betting that December’s dismal numbers was a fluke and analysts are predicting 185,000 jobs were created. The report will be made public in a half an hour and this set the mood in US markets, which tend to heavily influence European markets. It is looking more likely that nickel traders have successfully established a new floor for nickel, and that all eyes will shift to China on Monday. The anticipation that comes with this re-opening, will probably keep the momentum positive, at least in the short term. Then again, we have a jobs report hump to get over today. Have a safe and relaxing weekend! 
• Average price of cash nickel so far this month – $6.28/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Advances for a Second Day Before U.S. Employment Report – more
• WSJ metals morning – LME Metals Climb Ahead of Payrolls – more

  Reports

• US Imports of Stainless Steel Mill Products – more
• Desjardins Commodity Trends – pdf here
• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.77
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• Judge throws out former BHP mine manager’s unfair dismissal claim – more
• (Customs Statistics) Japan’s Exports of Ferro Alloys in December 2013 – more

    Indonesia miners must pay smelter cash guarantee -govt officials – Miners with smelter plans in Indonesia will have to pay a financial guarantee to prove they are serious about building domestic metal-processing plants, said mining ministry officials. – more

    Metal trade wars could cost a pretty nickel – Nickel gained in London for the first time in four sessions on signs that demand for the metal used to make stainless steel will accelerate just as supply tightens on an ore-export ban from top producer Indonesia. – more

    Billionaire Vladimir Potanin Moves Some of His Assets to Charity – Billionaire Vladimir Potanin, Russia’s sixth-richest person and a shareholder in OAO GMK Norilsk Nickel, transferred some of the assets in his holding company to charity. – more

• Russian nickel king Potanin gives his money to charity before divorce – 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 reports and information free of charge. Contact us

Thursday, February 6

• Dow Jones reports three month nickel closed Wednesday’s trading session at $6.24/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb higher, with other London traded base metals hardly trading. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just shy of the 266,000 tonne level. Nickel is trading higher this morning on yesterday’s forecast by MEPS that China production of stainless steel will increase this year. That is what those of us who report on base metals trading would like you to think, primarily we are desperate to explain the unexplainable. Today is a little easier than most, with the other metals barely trading, but nickel getting a nice little bounce and the MEPS report the only real news with China closed for a holiday. In reality, it is more likely that nickel is still working on finding a floor and this bounce is part of that strategy.  Since last Thursday, the market seems to be looking at $6.25/lb as a possible floor and except for a bounce on last Friday, that faded as quickly on Monday, nickel has traded fairly rangebound with this mark holding as a floor. Today’s bounce is either an attempt to break out of this range, or a sign of desperation, but so far, remains within the week long range. That is our opinion of course, and we all have one or two of those.
• Average price of cash nickel so far this month – $6.28/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Nickel Rises Amid Speculation Stainless Steel Will Fuel Demand – more
• Reuters metals morning – LME copper holds above 2-month lows, growth hopes support – more

  Reports

• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.77
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• Beijing sees 38% slump in fireworks sales – more

    Cuban Nickel Plant Announces Stoppage for Maintenance – Cuba will reduce production at one of its two nickel plants this year so it can carry out maintenance and capital improvements to make the plant competitive at low international prices. – more

    Australian nickel explorer aims to squeeze more out of big find – The last thing Australian nickel explorer Sirius Resources wants is a quick recovery in the price of the metal. – 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 reports and information free of charge. Contact us

Wednesday, February 5

• Dow Jones reports three month nickel closed Tuesday’s trading session at $6.26/lb . Indicators at 6:40 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mostly higher, but very quietly. Stockpiles of nickel stored in LME approved warehouses fell for a fourth consecutive session, with stores now totalling just over the 265,700 tonne level. Nickel was unable to gain with other base metals yesterday, and while higher this morning,  it is already trading off earlier session highs. All base metals are struggling to gain ground today. Chinese markets remain closed for New Years holiday, European markets are trading higher this morning, while US Dow futures are slightly lower at the moment. Nickel continues to look for a floor to its recent fall, but so far, without success.
• Average price of cash nickel so far this month – $6.28/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Zinc Rebounds From Longest Slump in 25 Years on Supply Outlook – more
• Reuters metals morning –

  Reports

• World Bank Commodity Markets Outlook – pdf here
• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here
• Universal Stainless Reports Fourth Quarter and Full Year 2013 Results – more
• Indonesia’s Growth Beats Estimates as Rebound Seen Faltering – more

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.77
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more

    North American Stainless PR – For the month of February 2014, North American Stainless will maintain the fuel surcharge at 33% for stainless flat and long products. The surcharge rate is considered a maximum level for February and will be reviewed monthly.

    Stainless Steel Production – Global Recovery Forecast For 2014 – MEPS – The annual total global crude stainless steel production for 2013 is estimated to have reached an all-time high of 37.3 million tonnes – more

    PolyMet Pitches It’s Copper-Nickel Mine Project To St. Cloud Business Leaders – – St. Cloud business leaders got an update today (Tuesday) on a proposed copper-nickel mine on the Iron Range. – 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 reports and information free of charge. Contact us

Tuesday, February 4

• Dow Jones reports three month nickel closed Monday’s trading session at $6.27/lb . Indicators at 6:50 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses fell for the third consecutive day with the total now just over the 265,850 tonne level. While trading sentiment appears to remain negative, base metals have apparently fallen too fast, and we are seeing a small recovery today. Traders are desperately trying to find some footing for nickel, with the price getting uncomfortably close to last months pre-ban lows. The International Stainless Steel Forum released some preliminary numbers for worldwide stainless steel production for the first nine months of 2013. Yesterday’s manufacturing PMI numbers did not impress, with a slowdown in China only being overshadowed by a steep slowdown in the US. Both remain positive, and bad weather may account for some of the US drop, but equity markets reacted negatively and the US Dow saw a 350+ point drop. China remains closed for their week long New Years holiday.  
• Average price of cash nickel so far this month – $6.27/lb
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Lead Paces Gains by Metals Amid Speculation Decline Was Overdone – more
• Reuters metals morning –

  Reports

• Reuters Metals Insider – pdf here
• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.77
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (RIN) Reuters reported at the end of last week that Russia’s Norilsk Nickel produced 285,292 tonnes of nickel in 2013, a 5-percent decrease from 2012. The decline was due to a number of factors, including “a reduction of grades in the processed ore, lower deliveries of semi-finished products and the mothballing of its Lake Johnston operations in Australia.”

    Global stainless steel production in the 3rd – Preliminary figures released by the International Stainless Steel Forum (ISSF) show that global stainless crude steel production increased by +5.5% for the first 9 months of 2013 y–o–y. Production for the first nine months of 2013 totaled 28 million metric tons (mmt), up 1.4 mmt in comparison to the same period of 2012. – more

    Indonesian minerals ban bites as well as barks: Home – Indonesian minerals policy is rarely a straightforward affair and so it proved again in the run-up to the Jan. 12 ban on exports of unprocessed ores. – more

    Cuba to cut nickel plant output for major overhaul – Cuba will reduce production at one of its two nickel plants this year so it can carry out maintenance and capital improvements to make the plant competitive at low international prices. – more

    Chinese stainless steel growth likely to sustain, says Macquarie – According to the latest research report published by Macquarie, the stainless steel output growth will continue to maintain its momentum during 2014. – more

    Prices of CR Austenitic Stainless Sheets in Asia to Rise in Feb. – The market of cold-rolled (CR) austenitic stainless steel sheets in the Asian region is predicted to be slow until mid-February as it enters the long Chinese New Year holidays in China. – more

    LME Ni Price Continues to Drop and Inventory Updates All-time High Level =Speculators’ sentiment gets aggravated over fears of early reduction in U.S. QE3= LME nickel price as cash seller settled on January 28 was US$14,080/MT, down for 4 consecutive days. – more

    Courtesy AISI – In the week ending February 1, 2014, domestic raw steel production was 1,804,000 net tons while the capability utilization rate was 75.3 percent. Production was 1,839,000 net tons in the week ending February 1, 2013, while the capability utilization then was 76.5 percent. The current week production represents a 1.9 percent decrease from the same period in the previous year. Production for the week ending February 1, 2014 is down 1.1 percent from the previous week ending January 25, 2014 when production was 1,824,000 net tons and the rate of capability utilization was 76.1 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 reports and information free of charge. Contact us

Monday, February 3

• Dow Jones reports three month nickel closed Friday’s trading session at $6.35/lb . Indicators at 6:45 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mostly lower as well. Stockpiles of nickel stored in LME approved warehouses fell on Friday and ended January just under the 266,000 tonne level. With China closed  for their New Year holiday, relevant industry news is thin. The official Chinese manufacturing PMI slipped 1/2 point to 50.5, but remained positive. Nickel climbed back  Friday to close above its 100 day moving average, but has fallen below this level today. Stochastic readings show nickel is trading in oversold territory, while the RSI reading gives it some room for further loss. European markets are trading quietly this morning, with US Dow futures slightly higher.
• Average price of cash nickel so far this month – N/A
• Average price of LME traded nickel in 2013 – $6.80/lb / avg 2012 – $7.95/lb / avg 2011 – $10.36/lb / avg 2010 – $9.89/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)
• Bloomberg metals morning – Copper Set for Longest Slump Since 1996 on China Data – more

  Reports

• Commodities Daily – here
• Commonwealth Daily Alert – pdf here
• Oakvale Daily Market Report – more
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here
• Weekly Market Report – pdf here
• DNB Metals Weekly – pdf here
• Mico Metals Weekly – pdf here  
• Hedge Equities Commodity Report – pdf here
• MacNicol Morning Notes – pdf here
• Alpari Global Markets Daily – pdf here
• Mangal Commodities Metals & Energy – pdf here
• Danske Weekly Focus – pdf here

  Commodity/Economic Comments

• China E-Stainless Daily Price Index – 79.77
• 2013 Reuters Nickel Price Forecasts – more (World Bank forecast 2013 – $8.16/lb)
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Stainless Steel Daily Scrap Prices – more
• Gerdau Steel Market Update – more
• European Debt Crisis Live – more
• 100 Years of Stainless Steel – more
• (BNA) Mirabela produced 3,433t of nickel in concentrate in the fourth quarter of 2013, down 13% from 3Q13.
• (China) Manufacturing PMI drops to 50.5 – more

    China’s Production of Mo Concentrates in CY2013 Is 276,600 Tons =Down by 0.2% from prior year by pressure from increase in ore import= According to the announcement made by National Bureau of Statistics of China, China’s production volume of molybdenum in the calendar year 2013 was 276,605 tons (in pure Mo equivalent), down by 0.2% from 277,122 tons of the prior year. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply reports and information free of charge. Contact us

 January Archives

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