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

Thursday, February 28

• Dow Jones reports three month nickel closed Wednesday’s trading session at $7.62/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb lower, with other London traded base metals trading mostly lower, Stockpiles of nickel stored in LME approved warehouses rose again on Wednesday and now total just under the 158,000 tonne level. Nickel bounced back above the $7.57/lb support level yesterday and is holding above it so far today. Two consecutive closes below this level would imply the downward trend in pricing could return. Holding about it sends a technical signal that buyers may be showing renewed interest.Most other technical signals remain negative however. The Euro is trading slightly lower against the US Dollar, and European equity markets are higher for a second day. The shock of the indecisive Italian election is wearing off and warnings that the US sequester will slow US economic growth appear to falling on deaf ears.  
• Average price of cash nickel so far this month – $8.07/lb
• Average cash price of nickel last month – $7.92/lb / average last year – $7.95/lb
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Copper Swings Between Gains and Declines Amid Lack of Demand – more
• LME Morning – Metals bar tin slip as economic sentiment sours, aluminium at 2013 low – 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 Steel Daily Price Index – 90.81
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• Stainless India Magazine January 2013 – pdf here
• (LGMI) According to China Iron and Steel Association, the daily crude steel production of its members in mid February was 1.7186 million tonnes, up 1.01% or 17,200 tonnes from that in early February.
• Iron ore demand seen climbing, but not prices: expert  – more
• Efficiency of China economy ‘sliding’ – more
• Sherritt International announces Q4 result – more

   Chrome ore firms up in auction, rises over 50% – Chrome ore prices rose sharply in the latest auction conducted by the Odisha Mining Corporation (OMC), the state government-run mining company, due to ferrochrome supply problems in international markets and ore supply issues in the domestic market, sources said. – more

   Midnight Strike Deadline – Xstrata Nickel and United Steelworkers Local 2020 continued to bargain Wednesday evening as the clock ticked down to the union’s strike deadline Thursday at midnight. – more

   Vale Had Wider-Than-Forecast Loss on $5.7 Billion Writedowns – Vale SA, the world’s largest iron- ore producer, reported a record quarterly loss that was wider than analyst forecasts after writing down the value of some nickel, coal and steel assets amid lower commodity prices. – more

   Clive Palmer’s Titanic II Is Something New, A Reenactment Of The 20th Century – I have been surprised since I first wrote about Australian mining magnate Clive Palmer‘s ambition to rebuild the Titanic, almost a year ago, at how much interest there has been in the topic. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 27

• Dow Jones reports three month nickel closed Tuesday’s trading session at $7.55/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading mostly higher and quietly. Stockpiles of nickel stored in LME approved warehouses rose for a fourth day on Tuesday and now totals just over the 157,800 tonnes level. Euro is trading higher this morning after Italian borrowing costs did not rise to levels feared this morning. European equities are trading higher as well, with crisis fears back in the lime light, but for today at least, a sigh of relief. US futures are higher with traders once again looking at the 14,000 level on the Dow as a psychological barrier it an’t seem to punch thru. Fed Chairman Ben Bernanke is giving his semi annual report before Congress for a second day, and he dropped no bomb shells yesterday, and affirmed his commitment to further economic stimulation by the Fed. Nickel fell below support at $7.57/lb yesterday and a second close below that level, could signal further declines. Next support at $7.18/lb , strong resistance at $8.00/lb.
• Average price of cash nickel so far this month – $8.10/lb
• Average cash price of nickel last month – $7.92/lb / average last year – $7.95/lb
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper edges up after Fed defends easing, euro zone data – more
• LME Morning – Base metals in consolidation mode, headlines and data to drive market – 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 Steel Daily Price Index – 90.95
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (Interfax) Nickel prices have suffered a marked decline since the Chinese New Year holiday, confounding expectations of a recovery on the back of seasonal demand. Analysts believe further decreases possible with some predicting prices will test a six-month low in the short-term.
• Northern Shield enters into earn-in agreement for Greenland project – more
• SLN mine in New Caledonia vandalised – more
• Controversial artist Flugelman dies at 90 – more
• China’s fastener Output Sees 1.5% Decline in 2012 – more

   China Crude Stainless Steel 2012 Output Up Year-On-Year – Stainless Steel Council of China Special Steel Enterprises Association released production of crude stainless steel in China during the calendar year of 2012 being 16.087 million tons, up 14.2% from 2011, together with imports/exports of SUS products during 2012. – more

   BHP hits $4 billion nickel ‘jackpot’ – Global mining giant BHP Billiton says it has hit upon a $4 billion nickel “jackpot” in Western Australia that will redefine their struggling nickel business. – more

    Putin Ally Chemezov Likely to Join Norilsk Board – Russian Technologies head Sergei Chemezov is likely to get a seat on Norilsk Nickel’s new board of directors after majority owners agreed to support his candidacy at the upcoming shareholder meeting, sources close to the nickel giant’s biggest shareholders said Tuesday. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 26

• Dow Jones reports three month nickel closed Monday’s trading session at $7.58/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.09/lb lower, with other London traded base metals trading lower this morning. Stockpiles of nickel stored in LME approved warehouses rose by over 1250 tonnes yesterday and now total just over the 156,800 tonne level.  Markets started off positive yesterday but when it became clear the Italian elections were not going to go the way the markets hoped, the Euro took a dive and base metals, as well as equities, headed south as well. Markets are mostly taking a breath this morning, and while European equities are lower, the Euro is up slightly. US futures are higher as well.  
• Average price of cash nickel so far this month – $8.13/lb
• Average cash price of nickel last month – $7.92/lb / average last year – $7.95/lb
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Reuters metals morning – Copper slips as Italy vote weighs, China demand in focus – more
• LME 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 Steel Daily Price Index – 91.09
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (MB) China’s nickel ore imports down 34% in January
• A neutral ENSO state likely for the next season – more

   Glencore’s CEO Says Rival Mining Chiefs ‘Really Screwed Up’ – Glencore International Plc (GLEN)’s billionaire Chief Executive Officer Ivan Glasenberg criticized his recently departed mining CEO peers for swamping the industry with mines and new production that’s crimped profits. – more

   Xstrata Nickel denies US$100M tax dodge at Dominican mine – The miner Xstrata Nickel Falcondo, which exploits ferronickel sites in central Monseñor Noel province, said a difference in prices between the reports submitted to the Dominican government and its parent company result from calculations made according to the operation period and isn’t an undervaluation which cuts tax payments. – more

   BHP nickel flip? – As BHP Billiton talks up a potentially transformative nickel discovery in Western Australia, the miner appears to be getting closer to what could be the spin-off of the year. – more

   U.S. Molybdenum Ores/Concentrates 2012 Imports/Exports – According to the the trade statistics released by U.S. Department of Commerce, the imports and exports of molybdenum ores and concentrates during the calendar year of 2012 were as per the table attached hereto. – more

   Extreme pollution from nickel plants – Monday was not a good day for people with respiratory problems in the industrial towns of Nickel and Zapolyarny. Sulfur dioxide pollution exceeded maximum allowed levels by 3 to 5 times. – more

   Big change needed to save nickel producers – The majority of Australia’s nickel producers continue to struggle to turn a healthy profit, and analysts say there is little relief in sight unless there is a fundamental change, such as BHP Billiton closing its West Australian operations. – more

   Courtesy AISI – In the week ending February 23, 2013, domestic raw steel production was 1,843,000 net tons while the capability utilization rate was 76.9 percent. Production was 2,007,000 tons in the week ending February 23, 2012, while the capability utilization then was 80.7 percent. The current week production represents a 8.2 percent decrease from the same period in the previous year. Production for the week ending February 23, 2013 is up 1.6 percent from the previous week ending February 16, 2013 when production was 1,814,000 tons and the rate of capability utilization was 75.7 percent.

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 25

• Dow Jones reports three month nickel closed Friday’s trading session at $7.70/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb lower, with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses rose by over 1000 tonnes on Friday and now total just over the 155,500 tonne level. Nickel opened lower this morning and appeared to want to return to the downward trend of last week, but a higher Euro and optimism in equity markets seems to putting a damper on the negative vibes amongst nickel traders. No industry news to give momentum either way, except for the continuing growth in nickel stockpiles. Moody’s late Friday downgrade of Great Britain ‘s credit rating appears to be getting shrugged off by world traders. European markets are higher this morning and US futures are higher as well. Italian election results are being watch ed closely today, as will Fed Chairman Ben Bernanke’s Congressional hearing testimony he will be giving on Tuesday and Wednesday.  
• Average price of cash nickel so far this month – $8.17/lb
• Average cash price of nickel last month – $7.92/lb / average last year – $7.95/lb
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Nickel and Aluminum Drop as China Manufacturing Expansion Slows – more
• LME Morning – Base metals prices mostly flounder, aluminium lowest since late last year – more

  Reports

• SteelWorld World Steel Production – 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 Steel Daily Price Index – 91.31  
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (SO) Colombian ferronickel exports up 31.4 percent in 2012
• (Australia) Cyclone Rusty intensifies in North West – more
• CRSI Answers FAQs about Stainless Steel Reinforcing Bars – more

   South Africa High-Carbon FeCr 2012 Exports Down 15% Year-On-Year = 2.670 million tons, down 14.8% y-o-y; medium/low-carbon FeCr exports were 32,114 tons, down 40.7% y-o-y = According to South African Revenue Service, exports of charge chrome (high-carbon ferrochrome containing more than 4% of carbon) during 2012 were 2,689,883 tons, down 14.8% from 3,157,847 tons in 2011. – more

   Rankings of stainless steel suppliers for 2012 – According to our assessment, over 250 companies are engaged in the stainless steel trade on the Russian market. However the available information about their activities and transparency leaves much to be desired. Under such conditions it is hard for end-users to make the right decision. – more

   Tati Nickel Mining Company recently donated P15, 000 worth of reflective vests and other road signs to the Botswana Police Service in an effort to assist teachers in Francistown curb road accidents among school children. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 22

• Dow Jones reports three month nickel closed Thursday’s trading session at $7.54/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb , with most other London traded base metals trading sideways. Stockpiles of nickel stored in lME approved warehouses rose on Thursday and now totals 154,500 tonnes. The nickel rout continued yesterday and bargain hunters have entered the market today. Technically, nickel is in well oversold territory so a bounce is to be expected. Whether it holds and stops the downward trend or turns out to be nothing more than a dead cat bounce, remains to be seen. Europe equity markets are also seeing some bargain hunting after two down days, and US futures appear to be setting up to follow suit. Nickel ended last week at $8.30/lb, already off highs from earlier in the month, but in a holding pattern as China spent the week on holiday. China re-opened Monday and nickel went into a freefall for the first part of the week. Many China factories will fire back up to full production next week and it will be interesting to see where nickel prices go in the coming weeks. If the pessimism of last year returns, we are seeing the beginning of a downward trend that could last thru early summer. Have a safe and restful weekend!
• Average price of cash nickel so far this month – $8.20/lb
• Average cash price of nickel last month – $7.92/lb / average last year – $7.95/lb
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Nickel Leads Gains in Industrial Metals in London: LME Preview – more
• LME Morning – Base metals under pressure, ‘gravity-defying’ prices come back to Earth – more

  Reports

• ThyssenKrupp Nirosta March Stainless Steel Surcharge – more
• AK Steel March Stainless Steel Surcharge – pdf here
• Allegheny Ludlum Steel March Stainless Steel Surcharge – more
• Crude Steel and Iron production for January 2013 announced by worldsteel – 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 Steel Daily Price Index – 91.50
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• ERAMET : Group: 2012 Results – more
• DJ Western Areas Profit Slumps on Weak Nickel Prices, Impairment Charge – more
• (MF) China’s crude stainless steel production increases by 14.17% in 2013
• (SSY) China’s crude steel production rose to its highest daily rate since October at 1.989 Mt in the first 10 days of February, according to data from the China Iron & Steel Association member companies. Production is 15% higher than during the corresponding period last year.

   Norilsk to close Lake Johnston – Russian mining giant Norilsk Nickel is on the verge of closing its only remaining Australian mine, with Australian managing director Edwin van Leeuwen warning staff that its Lake Johnston operation will close in April if a buyer is not found. – more

   Prices Of CR Ferritic Stainless Sheets To $1,550 CFR, Up $50 – The overseas market prices of cold-rolled (CR) ferritic stainless steel sheets are rising. They rose by $50 to the level of $1,550 CFR on type 430 basis of general use from late January to the middle of February. – more

   Japan’s 2012 Hot-Rolled SUS Production Down Year-On-Year = 2,819,000 tons down 3.8% from 2011; both Cr-alloyed group and Ni-alloyed group down = According to the data released by Ministry of Economy, Trade and Industry on February 15, details of the output of hot-rolled stainless steel during the calendar year of 2012 as well as in the single month of December 2012 are as per the table attached hereto. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 21

• Dow Jones reports three month nickel closed Wednesday’s trading session at $7.79/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.21/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses added insult to injury today, adding nearly 1100 tonnes on Wednesday and now totaling just shy of 154,400 tonnes. Nickel closed below support for a second time yesterday, sending a technical signal that the market was heading lower. And today proves every once i awhile the technicals send a correct signal. It appears that traders cant unload their nickel stock fast enough. Nickel is now trading well below the 100 moving day average, with the next strong support line clear down at $7.17/lb. As prices fall, cancelled warrants fall as well, and have registered below 14% for the last few days. It’s hard to say where nickel is heading from here. The trend has shifted south, much like year after the China New Year holiday. Whether nickel completely deflates like last year, or we see some stability in the near future, remains to be seen. From a fundamental standpoint, the increasing inventories is adding negative pressure on the price, although as seen by the last few months price increase, fundamentals mean far less than investor allocation. Interesting days ahead.
• Average price of cash nickel so far this month – $8.25/lb
• Average cash price of nickel last month – $7.92/lb / average last year – $7.95/lb
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Copper and Nickel Slump on Concern Fed May Slow Pace of Stimulus – more
• LME Morning – Base metals prices fall to multi-week lows, fund jitters derail mood – more

  Reports

• SMR Monthly Stainless Steel Briefing – more
• SSINA Releases Market Data for November 2012 – 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 Steel Daily Price Index – 91.67
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (WBMS) The global nickel market was in a surplus of 117,000 metric tons over the course of 2012, the World Bureau of Metal Statistics said Wednesday. This compares with a 3,100 ton deficit over the whole of 2011.
• (SSY) Global steel production in January registered both monthly (+3.0%) and annual (+0.8%) increases to total 124.8 Mt, according to the World Steel Association. This represented the highest monthly amount produced since October 2012. Virtually all of the year-on-year growth was accounted for by China, which produced 2.6 Mt more than in January 2012 at 59.3.
• Oil, metals on defensive; Fed sets investors on edge – more
• European markets down on FOMC, Chinese controls and EMU PMI – more

   Rio Tinto delays production because of falling market prices – Rio Tinto officials said Tuesday they plan to shift first production of nickel and copper at the company’s Eagle Mine and Humboldt Mill to the second half of 2014. – more

   Japan Ferroalloy Import Market Report – February 15, 2013 = The prices for bulk ferroalloys to be delivered to EF mills during March depend upon Yen/US$ rate changes = The market situation in Japan of ferroalloy imports as of February 15 is as follows. – more

   New Caledonia Nickel Mining Industry Issues Remain – New Caledonia’s nickel industry is being transformed as new joint ventures and exports to Asia challenge France’s control of the strategic minerals sector. – more

   Norilsk Recommends Three Independent Board Directors – Russian mining giant Norilsk Nickel (GMKN.RS) Thursday recommended three people to sit as independent directors on the company’s board as the firm works to implement a recent settlement that ended a bruising shareholder dispute. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 20

• Dow Jones reports three month nickel closed Tuesday’s trading session at $8.02/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with most other London traded base metals trading sideways. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 153,300 tonne level. Bloomberg is reporting “The 100-day historical volatility in LME three-month …. nickel dropped to 21.5 percent on Feb. 15, the lowest in at least 10 years.” Please note that is a volatility index, not the price. Ten years ago today, cash nickel was trading at $3.98/lb. The big dip in the price of nickel over the last two days has taken a  breather today. Nickel closed below a support line at $8.05/lb yesterday and another close today could send a negative technical signal. European equity markets are mixed this morning and US futures are sending no directional signal. Could be a quiet market day.
• Average price of cash nickel so far this month – $8.28/lb
• Average cash price of nickel last month – $7.92/lb / average last year – $7.95/lb
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Copper, Nickel, Zinc Volatility Tumble to Decade-Year Low – more
• LME Morning – Most base metals prices higher but nickel and tin struggle – more

  Reports

• Oryx Monthly – A price explosion looks different – more
• Japanese Steel Production (Monthly Statistics for January 2013 – 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 Steel Daily Price Index – 91.77
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (SSY) Russia’s crude steel production fell 5.8% year-on-year in January to 5.7 Mt, according to the State Statistics Committee of Russia. Production also fell 2.4% month-on-month.
• (SSW) The International Stainless Steel Forum (ISSF) has appointed John Rowe as Secretary General and member of its Executive Board. He is replacing Pascal Payet-Gaspard, who stepped down at the end of 2012. John was formerly CEO of the ThyssenKrupp Group, as well as Vice Chairman of the Shanghai Association of Enterprises with Foreign Investment.

   BHP Billiton names base metals chief as new CEO – Top global miner BHP Billiton appointed the head of its base metals business as its new chief executive on Wednesday to replace Marius Kloppers, who will step down in May. – more

   Aperam forms joint venture to bid for Outokumpu’s Terni – Luxembourg-based stainless steel maker Aperam has teamed up with two Italian peers to bid for Outokumpu’s Terni plant in Italy, boosting hopes the Finnish company will find a buyer for the mill. – more

   Japan Crude Stainless Steel 2012 Production Down Year-on-year = Down 2.1% to 3,509,940 tons, while December production up 8.0% from November = Crude stainless steel production in 2012 by the 7 major Japanese stainless steel mills was 3,509,940 tons, down 2.1% from 3,583,962 tons recorded in 2011. – more

   Service Center Shipments Down in January – Service center shipments of steel and aluminum were down in January in both the United States and Canada, according to the first Metals Activity Report of 2013 from the Metals Service Center Institute, Rolling Meadows, Ill. – more

   Selling nickel to Asia – New Caledonian mining challenge to French control – New Caledonia’s nickel industry is being transformed as new joint ventures and exports to Asia challenge France’s control of the strategic minerals sector. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 19

• Dow Jones reports three month nickel closed Monday’s trading session at $8.10/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.10/lb lower, with other London traded base metals all trading lower. Stockpiles of nickel store din LME approved warehouses rose slightly on Monday and now totals just shy of the 153,400 tonne level. Nickel has fallen below its 20 day moving average and is trading below support at the moment. As the market is oversold, and there is no real ‘news’ that is driving the market one way or the other, we believe technical signals will put a stop to this slide, or at the very least, put a halt to it and potentially recover some of the weeks losses. There was really no fundamental driven reason in the climb over the $8/lb level we have seen over the last few weeks, so how long it holds, has become questionable.  
• Average price of cash nickel so far this month – $8.31/lb
• Average cash price of nickel last month – $7.92/lb / average last year – $7.95/lb      
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Tin Leads Drop in Metals on Concern About China Property Market – more
• Reuters metals morning – Copper slips to three-week lows as China holds fire – more
• LME Morning – Base metals lose further ground in downbeat trading – more

  Reports

• Damstahl Stainless Steel report – 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 Steel Daily Price Index – 91.81
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (SSY) According to the German Steel Federation, Germany’s crude steel production enjoyed a reasonably strong start to 2013, rising 18% to 3.6 Mt in January from the previous month. Production in January also grew 7% year on year.
• EUROFER disappointed by ENVI decision on backloading – more
• EU applies AD duty on stainless steel fasteners from Philippines – more

   U.S. Nickel Scrap 2012 Exports Down Year-On-Year = Down 20.8% from 2011 = According to the statistics released by the U.S. Department of Commerce, exports from the U.S.A. of nickel scraps during 2012 as well as in the single month of December were as per the table attached hereto. – more

   Western Areas strikes alliance with Jinchuan – Nickel miner Western Areas has struck a strategic alliance with its main Chinese customer Jinchuan to explore mining opportunities around the world. – more

   New Caledonia: Selling nickel to Asia – New Caledonia’s nickel industry is being transformed as new joint ventures and exports to Asia challenge France’s control of the strategic minerals sector. – more

   Harry Brearley Stainless Steel Centenary Conference & Exhibition – A conference and exhibition on the theme ‘The Development and Application of Stainless Steels’ will be held 11-13 June in Sheffield UK. – more

   How A Greenland Asteroid Crater Could Become The Next Big Nickel Region – It’s not every day that you get to explore for nickel in a crater formed by an ancient meteor strike, but that’s exactly what North American Nickel is doing at its Maniitsoq project in Greenland. – more

   Courtesy AISI – In the week ending February 16, 2013, domestic raw steel production was 1,814,000 net tons while the capability utilization rate was 75.7 percent. Production was 2,007,000 tons in the week ending February 16, 2012, while the capability utilization then was 80.7 percent. The current week production represents a 9.6 percent decrease from the same period in the previous year. Production for the week ending February 16, 2013 is down 0.4 percent from the previous week ending February 9, 2013 when production was 1,822,000 tons and the rate of capability utilization was 76.1 percent.

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 18

• Dow Jones reports three month nickel closed Friday’s trading session at $8.34/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.16/lb lower, with other London traded base metals trading lower as well. Stockpiles of nickel stored in LME approved warehouses fell o Friday and now totals just over the 153,250 tonne level. Nickel is trading lower as part of more broad based sell off, as China returns to work. Nicholas Snowdon, an analyst at Barclays Plc in New York told Bloomberg, “On the demand side, there’s nothing supporting the prices we’ve seen…..Some correction is justified.” The Euro is quiet today and is adding neither support, nor resistance to today’s metals trading. European equity markets are mostly lower, while US markets are closed for Presidents Day.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Nickel Declines Most in Eight Weeks on Signs of China Slowdown – more
• Reuters metals morning – Copper hits 3-week low, global growth woes hurt – more
• LME Morning – Base metals edge off lows but remain under pressure – 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 Steel Daily Price Index – 91.80
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• Emu Nickel to reveal acquisition – more
• (SSY) According to the latest SteelBenchmarker published by World Steel Dynamics, the world export price of hot rolled band was up by $14/t from end-January to $592/t. Although this is the highest level since mid-July 2012, it was down $50/t year-on-year.
• (CF) For the second straight month, both exports and imports of U.S. fasteners fell in December. Imports of U.S. fasteners in December dropped 3% to $344,782,852, while exports of U.S. fasteners in December fell 13% to$243,089,653.
• 3D printing reshapes manufacturing – more

   China’s non-ferrous metal production slows in 2012 – China’s non-ferrous metal production expanded at a slower pace last year compared with a year earlier, according to new data. – more

   Chrome Ore Exports From Turkey – January 2013 = Up 18.6% from the preceding month; exports to China recovered = Turkey’s exports of chrome ore during January 2013 were as per the attached table hereto. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 15

• Dow Jones reports three month nickel closed Thursday’s trading session at $8.28/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb , with other London traded base metals trading slightly higher as well. Stockpiles of nickel stored in LME approved warehouses fell again on Thursday and now totals just shy of the 153,500 tonne level. European markets are recovering at the moment, while the Euro is trading lower against the US Dollar. Nickel traders have yet to take any risks this week and appear to be waiting for China to return to work next week, before they make any sizeable moves. For now, nickel continues to trade within its sideways trend. Have a safe and restful weekend!
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Zinc Rises as Meteorite Explosion Causes Damage at Russian Plant – more
• Reuters metals morning news – Copper edges up on China prospects; euro woes cap gains – more
• LME Morning – Base metals in consolidation mode, await drivers from US data and G20 – 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 Steel Daily Price Index – 91.80
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• CRU – Nickel: Prices rise into February – Ferrochrome: Prices continue to trend higher -Molybdenum: Prices fall back from January highs
• (SSY) According to the American Iron and Steel Institute, US steel exports set a record in 2012 rising 2.2% to 13.7 Mt. However, December saw exports fall 19.3% to 0.9 Mt from 1.1 Mt in the corresponding period last year.
• Euro zone may contract 0.2-0.3 percent in 2013: ECB’s Nowotny – more
• China still lags US in trade – more

   Edwards Says Mining Boom Yet to Come as Output Set to Rise – Reserve Bank of Australia board member John Edwards said higher mining output may support gross domestic product growth even after resource investment peaks. – more

   Xstrata Nickel, USW Local 2020 in bargaining – Negotiating teams for Xstrata Nickel and United Steelworkers Local 2020 are 10 days into bargaining for a new collective agreement for about 225 office, clerical and technical employees, in advance of the Feb. 28 expiration of their current contract. – more

   Russia’s Norilsk says may work with traders after years of ban – Norilsk Nickel may start working with Glencore or Trafigura to penetrate new markets, the Russian mining major said, signalling a thaw after years of refusing to do business with large trading houses. – more

   Russian group’s African operations show significant production increases – Russian major mining group MMC Norilsk Nickel’s African operations delivered significant increases in output last year, helping boost the company’s global nickel production by 2%, compared with 2011. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 14

• Dow Jones reports three month nickel closed Wednesday’s trading session at $8.33/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.02/lb higher, with other London traded base metals trading mixed and mostly quiet. Stockpiles of nickel stored in LME approved warehouses fell for a second consecutive day and now total just over the 153,700 tonne level. Nickel is holding up well considering the Euro is down sharply on reports showing economies in Germany and France fell more deeply than expected in the final quarter of 2012. This news has European equity markets trading lower this morning, and has driven US futures lower as well. The average cash price of nickel slipped a penny to $8.33/lb for the month so far, compared to $7.92/lb last month, $9.28/lb in February 2012, and $3.91/lb in February 2003. We expect nickel’s sideway trend to continue today.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Aluminum Climbs to One-Month High as Car Sales Rise, Oil Gains – more
• Reuters morning news – Copper inches up; eyes G20 in holiday-thinned trade – more
• LME Morning – Most base metals slip, slew of poor European GDP data takes toll – 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 Steel Daily Price Index – 91.80
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• Russia’s Norilsk seeks slice of huge copper deposit – more

    ENRC Ore/Ferroalloy 2012 Production Results = 3,730,000 tons of Cr ore, up 4.6% from 2011, while 954,000 tons of Mn ore, down 5.5% from 2011= Results of production by ENRC (Eurasian Natural Resources Corporation PLC) during the year of 2012 as well as in the Q4 (October – December) of 2012 were released last week. – more

    Mirabela expects $370m write-down – Nickel miner Mirabela expects to write down the value of its Brazilian Santa Rita assets by $US380 million ($A369.34 million) and possibly more. – more

   Talvivaara ‘Quite Confident’ on Rights Vote to Ward Off Collapse – Talvivaara Mining Co. Ltd. said it’s “quite confident” shareholders will approve a rights offer to stave off default and bankruptcy at the Finnish nickel miner. – more

    Asteroid Worth $195B; Iron, Nickel And Ice Invaluable To Deep Space Exploration Says Mining Exec – The near-miss asteroid zipping past Earth on Friday might one day have to pay a toll for coming so close. – more

    Future of the European steel industry: time to translate good intentions into action – EUROFER is satisfied with many aspects and findings in the recommendations of the High level Roundtable on the future of the European Steel Industry, published on February 12, 2013. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 13

• Dow Jones reports three month nickel closed Tuesday’s trading session at $8.33/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.03/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now totals just over the 153,900 tonne level. The Euro is trading higher this morning after it was reported European industrial production rose in December. This is giving base metals trading positive momentum, with little else providing direction. Asian markets remain closed for the week, and we might see more speculative rise before the weekend, but trading remains in a sideways trend. So far this month, the cash price of nickel has increased from $7.92/lb in January to an average of $8.34/lb.   
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Lead Rises a Second Day on Speculation China Will Resume Buying – more
• LME Morning – Base metals boosted by euro strength, zinc reaches 17-mth high – more

  Reports

• MolyReview Jan 2013 – pdf here
• Steel Founders’ Society Of America Casteel Reporter – 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 Steel Daily Price Index – 91.80
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (Bloomberg) Cerro Matoso is world’s number two producer of ferronickel, according to BHP Billiton’s website. A strike at the mine five years ago contributed to a 16% increase in the price of nickel during the first quarter of 2008.
• Rusal Intends to Direct Norilsk Nickel dividends to Repay Loans – more

   Miner Talvivaara seen seeking cash after costly leak – Nickel miner Talvivaara is expected to announce plans to raise up to 200 million euros ($268 million) this week, possibly via a share sale, to tide itself over until production recovers from a costly waste-water leak. – more

   Japan SUS Scrap Price Further Up = Further up by almost Yen10,000/ton, reflecting the LME nickel price rise and the weakened Yen = The price in Japan for nickel-alloyed stainless steel scraps (new clippings) for deliveries during February continues rising, mostly because of even weaker Yen and the sharp rise in LME nickel price due to speculative buying on the signs of firming up of the economic in Europe and U.S. – more

   Ground-Breaking Ceremony Marks The Start Of Antam’s Expansion Of Pomalaa Ferronickel Plant Project – PT ANTAM Tbk is pleased to announce the ground-breaking ceremony of the Expansion of Pomalaa Ferronickel Plant project (P2F), at Pomalaa, Southeast Sulawesi. The ground-breaking ceremony was held on Thursday, February 7th, 2013, at the first piling site of the coal fired power plant in Pomalaa. – more

   Mwana Africa says Trojan mine in production readiness – Mwana Africa said its Trojan Nickel Mine in Zimbabwe has been returned to a state of production readiness, on time and on budget. – more

   US steel exports set record in 2012, despite year-end slowdown – Steel export volume from the United States rose 2.2 percent in 2012 to a record high, but a slowdown in the last two months of the year raised concerns about 2013 business opportunities, a steel trade association said on Tuesday.- more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 12

• Dow Jones reports three month nickel closed Monday’s trading session at $8.31/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.06/lb higher, with other London traded base metals trading higher as well. Stockpiles of nickel stored in LME approved warehouses rose for the third consecutive session and now totals just over the 154,100 tonne level. The Euro is trading higher this morning and that is giving metals trading some positive momentum. Most Asian markets remain closed for the week. The nickel industry is looking at a potential strike at a mine in Colombia, and the first shipment from its newest mega mine in Madagascar arriving in Korea. LME stockpiles os nickel are now 12,354 tonnes shy of their all time recorded high. We expect a quiet day and a sideways trading trend to continue.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Copper Reaches One-Week Low and Zinc Drops Amid Swollen Stocks – more
• LME Morning – Base metals prices retreat as Asian holidays weigh, copper near two-week lows – more

  Reports

• 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 Steel Daily Price Index – 91.80
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (MP) Xstrata’s ferro-chrome production down 8% amid power shortages
• Desjardins – Commodities benefit from the improvement in investor sentiment – pdf here
• NFIB February Report: Small-Business Owner Confidence Barely Budges – more
• Pacific remains ENSO neutral – more

   BHP Billiton’s Colombian Nickel Workers Threaten Strike – Workers at BHP Billiton’s Colombian Cerro Matoso mine, the world’s second-largest nickel producer, are threatening to strike if the company disciplines a laborer. – more

   First Shipment of Nickel Ores from Malagasy Mine Arrives in Korea – The nickel ores produced from Ambatovy, Madagascar, one of the world’s top three nickel mines, have arrived in Korea after seven years of development. – more

   Japan SUS Scrap Price Up For February Deliveries = Up Yen10,000/ton or more, reflecting the price upward trend of the scraps for export = The price in Japan for nickel-alloyed stainless steel scraps (new clippings) for deliveries during February is firming up. – more

   Courtesy AISI – In the week ending February 9, 2013, domestic raw steel production was 1,822,000 net tons while the capability utilization rate was 76.1 percent. Production was 2,007,000 tons in the week ending February 9, 2012, while the capability utilization then was 80.7 percent. The current week production represents a 9.2 percent decrease from the same period in the previous year. Production for the week ending February 9, 2013 is up 1.2 percent from the previous week ending February 2, 2013 when production was 1,801,000 tons and the rate of capability utilization was 75.2 percent.

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 11

• Dow Jones reports three month nickel closed Friday’s trading session at $8.31/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.01/lb higher, with other London traded base metals trading mixed and mostly quiet. Stockpiles of nickel stored in LME approved warehouse rose sharply again on Friday and now total just shy of the 153,700 tonne level. The all time record high for stockpiles is 166,476 tonnes recorded on Feb 8, 2010. Most Asian markets are closed this week for New Year celebrations, and we expect the nickel market to trade fairly quietly for the first part of this week, unless the Euro takes an unusually strong turn one way or the other. US stock traders are having a hard time punching thru the psychologically important 14,000 level on the Dow. The Northeast is digging out for a massive snowstorm over the weekend, Mississippi is recovering from tornadoes, the upper Midwest is getting its own taste of a blizzard today, and the lower Midwest is preparing for a snowstorm tomorrow.  
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Zinc Advances as Prices at This Year’s High Prompt Purchases – more
• LME Morning – Base metals make subdued start to week, price little changed while Asia closed for holidays – 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 Steel Daily Price Index – 91.80
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (Dow Jones) U.S. nickel imports rose 6.3% in December from last month, and was up 11.2% from the previous year, the Commerce Department reported Friday.
• (Dow Jones) U.S. nickel exports fell 34.5% in December from the previous month, and was down 39.2% from the previous year, the Commerce Department reported Friday.

   Eramet to kick off $5.5 billion smelting project mid-2013 – French mining and metals group Eramet SA, which runs the world’s biggest ferronickel plant, is scheduled to start its US$5.5 billion nickel smelting project in Maluku in the middle of this year. – more

• Weda Bay Nickel Makes Request for Tax Holiday – Weda Bay Nickel, a local unit of French mining and metals group Eramet SA, requested to be granted a tax holiday, a minister said on Friday. – more

   Top Dominican official: Xstrata mine OK, but Barrick should pay more – Mining Agency director Alexander Medina on Friday denied affirmations that Xstrata Nickel’s planned mine at Loma Miranda would harm the region’s ecosystems, and said the company Barrick Gold should pay more taxes because it’s profiting more with gold’s higher price. – more

   Ramu Nico firms tri-nation bonds – Papua New Guinea’s first US$1.6 billion nickel project and fifth largest in the world has the potential to promote and further strengthen the mutual benefits and cooperation between China, Australia and PNG when it reaches its production capacity. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 8

• Dow Jones reports three month nickel closed Thursday’s trading session at $8.24/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.07/lb higher, with all London traded base metals trading higher as well. Stockpiles of nickel  stored in LME approved warehouses rose sharply on Thursday and now total 152,400 tonnes. After taking a beating yesterday, the Euro is trading higher against the US Dollar, adding support to base metal trading. Asian markets ended mostly higher, and European equity markets are trading higher this morning on economic recovery hopes after surprising strong January import and export data was released from China. China is closed all next week for their annual Lunar New Year celebration so this is optimistic final news should carry into next weeks trading and support any anticipated ‘profit taking’ in metals trading. Stockpile figures show LME licensed warehouses now hold more nickel than they have held since April 2010. Back then nickel was trading around $12/lb (closed at highest for year at $12.38/lb on April 20th) and cancelled warrants were in the 3-4% range (16-17% the last few days this year). With China closed next week, we may see nickel looking for momentum or pressure coming from the strength or weakness of the Euro. US futures are quiet as the American Northeast prepares for a forecasted mega-snowstorm. As we are writing this the flurries are flying in New York City Times Square. You can watch the snow stack up here amongst numerous other websites. Have a safe and relaxing weekend!
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Copper Rises as Chinese Trade Tops Estimates and Car Sales Jump – more
• LME Morning – Base metals inch higher despite copper and aluminium stock increases – 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 Steel Daily Price Index – 91.76
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (Dow Jones) Russia’s copper, nickel and aluminum exports increased in 2012, reflecting growing demand on the world market, according to the figures released by the federal customs service Friday. …. Nickel exports rose 12% to 219,100 tons, valued at $3.72 billion…. .
• (SSY) China’s crude steel production slid to its slowest daily rate since September at 1.906 Mt in the last 10 days of January, according to data from the China Iron & Steel Association member companies. However, production is still 14% higher than the 1.67 Mt produced in the corresponding period last year.
• January vehicle sales surge 45.4% – more

   World Bank Commodity Market Outlook Jan 2013 –  Nickel prices rose modestly in early 2012 before receding due to the sluggish market for stainless steel (the end use of more than two-thirds of nickel production) and the rapid restart of nickel pig iron (NPI) production in China. China now accounts for 40 percent of global stainless steel production, up from 4 percent a decade ago. Stainless steel demand is expected to remain robust in the medium term, growing by more than 6 percent annually, mainly driven by high grade consumer applications, initially in high income countries and, increasingly so, in emerging economies as well. A wave of new nickel mine capacity is expected to keep nickel prices close to marginal production costs, however. Several new projects will soon ramp up production, including those in Australia, Brazil, Madagascar, New Caledonia, and Papua New Guinea. Another major global source of nickel is NPI in China, which sources low-grade nickel ore from Indonesia and the Philippines. China‘s production capacity may soon be constrained, though, given that Indonesia has announced that it will develop its own NPI industry and has introduced export quotas and may ban nickel ore exports by end-2013….. Nickel prices are also expected to increase almost 3 percent in 2013, and to follow a slightly upward trend thereafter. Although there are no physical constraints in these metal markets, there are a number of factors that could push prices even higher over the forecast period, including declining ore grades, environmental issues, and rising energy costs. (source)

   Japan SUS Product 2012 Exports Down 6.4% Y-O-Y = Exports to China substantially down = Japan Iron and Steel Federation compiled the Trade Statistics released from the Ministry of Finance into the table as attached hereto with regard to Japan’s exports of stainless steel products during the year of 2012 as well as in December 2012. – more

    Zimbabwe: Mwana Africa, Chinese Sign Pact – Mwana Africa, a multi-commodity African mining group listed in the United Kingdom with a strong presence in Zimbabwe, has announced the formal signing of the Joint Venture Agreement with Zhejiang Hailiang Company Limited of China.- more

    Full production from Ontario mine delayed as development slows – Slower-than-planned development and unplanned rehabilitation work on the main ramp of Toronto-listed miner First Nickel’s flagship Lockerby nickel mine impacted fourth-quarter production and delayed the ramp-up to full production to the first quarter of this year. – more

    UN clarifies role in Xstrata Nickel’s planned Dominican Republic mine – The United Nations Development Program (UNDP) reiterated Thursday that its sole role is to advise Dominican Republic’s Government by evaluating the environmental impact study submitted by Xstrata Nickel for its planned mine at Loma Miranda, in the country’s rugged Central Mountains. – more

   Mining tax fails to deliver, as revenue falls well short of forecasts – In a statement, Mr Swan said the Australian Tax Office had provided the government with combined Minerals Resource Rent Tax revenue figures for the first two quarters of the 2012-13 financial year. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 7

• Dow Jones reports three month nickel closed Wednesday’s trading session at $8.31/lb . Indicators at 7:00 am CST today show 3 month nickel trading flat, with other London traded base metals trading mixed. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just shy of the 151,000 tonne level. European stocks are trading slightly higher this morning after the European Central Bank left its key lending rate unchanged at 0.75%. US futures are slightly higher, while the Euro is trading higher as well, giving a boost to base metals trading. Looks to be an uneventful day for nickel traders.  
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Zinc Falls for Third Day as Euro-Area Economies Keep Struggling – more
• Reuters metals morning – Copper flat ahead of ECB meeting, Lunar New Year holiday – more
• LME Morning –  Metals prices range narrowly lower, consolidate ahead of central bank rate news – 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 Steel Daily Price Index – 91.73
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• Infographic: 100 Years of Iconic Stainless Steel Structures – more

    Market Chatter: Nickel Prices Decline Most Since October on Ample Supply – “Nickel prices fell the most in three months amid signs that global supplies will be more than enough to meet demand this year. Copper also dropped,” Bloomberg reported. – more

    LME Nickel January Averages Up Slightly From December = Sharply rose during the last week of the month; month-end stocks exceeded 150,000 tons = LME nickel’s monthly averages during January were, spot: US$17,464.77/ton (US$7.922/lb) and 3 months: US$17,533.00/ton (US$7.953/lb), both up 0.3% compared to the averages of December. – more

   Sumitomo Metal to Slow Investments, Shift Focus to Raw Materials – Sumitomo Metal Mining Co., Japan’s top nickel producer, will slow the pace of investments in the next three years and shift focus to spending on raw material assets as competition for resources intensifies. – more

• Sumitomo Metal to build second nickel plant by 2021 – Sumitomo Metal Mining Co, Japan’s biggest nickel producer, said on Thursday it would build a second nickel refinery by 2021 to boost annual production capacity to 150,000 tonnes to meet growing demand from developing countries. – more

   Anglo says threats over mining licences ‘out of order’ – Threats by South African politicians to review mining licences are “out of order”, the incoming head of mining group Anglo American said on Thursday, after its plans to cut jobs triggered a fierce response from the government. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 6

• Dow Jones reports three month nickel closed Tuesday’s trading session at $8.48 lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb lower, with other London traded base metals also trading lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just over the 150,650 tonne level. Nickel is stalling just shy of the $8.50/lb level, and short of a major resistance line at $8.55/lb. As China prepares to shut down next week for the Lunar New Year, traders have gambled their return will bring a rush of demand. This has caused a big bump in the nickel price in the last few weeks, and traders may be taking a break and cashing in some profits. We expect a slight pullback is possible, but doubt we will see much more than some sideways trading until at least mid next week.  Then again, we could see a repeat of last year, when similar enthusiasm fizzled just about this time last year and led to a large decline in the price of nickel over the first six months of 2012
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Tin Near Double Bottom Signals Price Climb: Technical Analysis – more
• LME Morning – Base metals subside as bull-run correction continues, copper price unable to clear $8,300/t – 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 Steel Daily Price Index – 91.61
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (SMM) On Tuesday, mainstream traded prices for Jinchuan nickel were RMB 130,800-131,000/mt in the Shanghai nickel market, and RMB 129,500-129,800/mt for Russian nickel. Downstream producers and traders are now closing for the holiday, and meanwhile the lack of arbitrage opportunity in domestic electronic trading further reduced the already light trading sentiment, a sign of strong holiday sentiment.
• (SMM) The Indonesian government announced in late January that it had raised its benchmark nickel ore export price for February by 0.41-0.45%.
• (MF) Japan’s stainless steel exports decrease in 2012
• (Xinhua) Shanxi Taigang’s stainless steel output rises to 3.11 mln t in 2012
• (Xinhua) China 2012 crude stainless steel output up 14.17 pct y-o-y, CSSC

    TISCO proves its mettle in tough steel market – It’s a fact few people might know, but the metal used to make the many millions of coins in circulation in China is made in Taiyuan in Shanxi province by a company now regarded as the world’s largest stainless steel producer. – more

    Xstrata Nickel project shouldn’t depend on the UN, environmentalist says – While UN Development Program (UNDP) technicians on Monday began behind-closed-doors consultations to evaluate the environmental impact study submitted by Xstrata Nickel’s Falcondo Loma Miranda mining project, a prominent environmentalist said the operation shouldn’t depend on their decision. – more

    Global Steel Production To Rise By 4.7 Percent in 2101 – MEPS predicts world crude steel output in 2013 at 1620 million tonnes. This equates to a 4.7 percent increase on the estimated outturn of 1548 million tonnes in 2012. The gain in that year was just 1.4 percent. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 5

• Dow Jones reports three month nickel closed Monday’s trading session at $8.49/lb . Indicators at 7:00 am CST today show 3 month nickel trading around $.05/lb lower, with other London traded base metals mixed and mostly lower. Stockpiles of nickel stored in LME approved warehouses fell slightly on Monday, and now total just over the 150,800 tonnes level. The Euro is slowly recovering today and base metals are recovering as well. Considering the strength in nickel against teh weaker Euro yesterday, nickel is looking very strong. As nickel nears strong resistance at $8.55/lb, it will be interesting to see if traders take some profits or keep their appetite for risk. European stock markets are on teh rebound today and US futures are higher as well.  
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Nickel Drops Most in Three Weeks as Investors Seek to Curb Risk – more
• Reuters metals morning –  Copper falls on European political concerns – more
• LME Morning – Base metals consolidate, price rallies meet resistance – 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 Steel Daily Price Index – 91.40
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (Xinhua) China 2012 crude stainless steel output up 14.17 pct y-o-y, CSSC
• No security of raw materials supply – more
• Iron Ore Seen Poised for Bear Market by Smirk on Supplies – more
• Vale Breaks 4Q Iron Ore Record – Analyst Blog – more

   ETI KROM’s Production Records & Outlook On Chrome Market = Plan to produce in 2013 FeCr 170K tons, Cr Ore 825K tons, forecasting price rises during the first half of 2013 = Mr. Robert Yuksel Yildirim, President of Yildirim Holdings Inc., and Mr. Cengiz Onal, FeCr International Marketing Director of Eti Krom Inc., gave an interview to our pressman (Mr. Saito) on the 23rd of January at the Imperial Hotel, Tokyo – more

   Russian agency sues Norilsk Nickel for $19.5 mln over eco damage – The Krasnoyarsk Territorial Commercial Court will hear on February 8 the Russian environmental agency’s 585.5-million-ruble ($19.5 million) claim against Norilsk Nickel, the court spokesperson told RAPSI on Monday. – more

   Courtesy AISI – In the week ending February 2, 2013, domestic raw steel production was 1,801,000 net tons while the capability utilization rate was 75.2 percent. Production was 1,944,000 tons in the week ending February 2, 2012, while the capability utilization then was 78.5 percent. The current week production represents a 7.4 percent decrease from the same period in the previous year. Production for the week ending February 2, 2013 is down 0.3 percent from the previous week ending January 26, 2013 when production was 1,806,000 tons and the rate of capability utilization was 75.4 percent.

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 4

• Dow Jones reports three month nickel closed Monday’s trading session at $8.44/lb . Indicators at 7:00 am CST today show 3 month nickel trading flat this morning, with other London traded base metals trading flat to slightly lower. Stockpiles of nickel held in LME approved warehouses rose only slightly on Friday and now totals just over 150,900 tonnes. The Euro is trading lower this morning on Italian and Spanish political woes, which is putting pressure on base metals trading. European stocks are lower at the moment, as are US futures.
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Copper Rises to 4-Month High; Zinc Reaches 1-Year Peak on Demand – more
• LME Morning – Base metals prices trim gains from new bull-run highs, copper below $8,300/t – more

  Reports

  Commodity/Economic Comments

• China E-Stainless Steel Daily Price Index – 91.19
• 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
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• (AK&M) M&A: Norilsk Nickel selling Lake Johnston mine in Australia
• Barclays favours shorting Nickel – more
• Bulls Rewarded With Best January Rally Since 2006: Commodities – more
• 10 biggest steel mills in China – more
• The surprisingly high cost of debt – more

   North America sTainless – Effective with shipments February 1st, 2013, North American Stainless will maintain the fuel surcharge at 34% for stainless flat and long products. The surcharge rate is considered a maximum level for February and will be reviewed monthly.

   Local 598 members ratify deal – Mine Mill Local 598/CAW members voted 92 per cent in favour of ratifying a four-year deal with Xstrata Nickel Feb. 1. – more

   Prices Of CR Austenitic Stainless Sheets In East Asia Region = To await the next step after Chinese New Year at $2,850 CFR – In the market of cold-rolled (CR) austenitic stainless steel sheets in the East Asia region, Korea’s POSCO, Taiwan’s YUSCO and so on offered their prices at $2,750 CFR and settled at $2,700 CFR for January shipment. – more

   Eramet Unit, Indonesia Agree on Some Contract Review Points – Eramet SA (ERA) unit PT Weda Bay Nickel, negotiating with Indonesia to set up a $5 billion nickel mine and smelter, agreed on four out of six points in a government review of the company’s mining contract. – more

   Illegal hauling of chromite unabated in Zambales – From Nov. 2011 to May 2012, more than 100,000 metric tons (MT) of chromite tailings (fines) valued at P250 million were stolen from the Coto Mines of Consolidated Mines Inc. (CMI) in Sitio Coto, Barangay Taltal in Masinloc, Zambales allegedly by officials and elements of the Zambales Provincial Police Office. – more

   DJ Russian Defense Corp Head Nominated for Norilsk Board – -The head of Russia’s state defense corporation has been nominated to take an independent seat on the board of directors of Norilsk Nickel (GMKN.RS), the world’s largest nickel and palladium producer that has recently emerged from a bruising shareholders’ dispute. – more

• Boss of Russian state-owned firm may join Norilsk board – Russia’s richest man Alisher Usmanov has nominated the head of state-owned Russian Technologies to the board of Norilsk Nickel, a sign of greater government influence at the world’s largest nickel miner. – more

   Xstrata Nickel introduces its local CEO – Falcondo Xstrata Nickel on Thursday introduced Darren Bowden as its new President and CEO in the country, who will guide the company’s operations and future projects in the Dominican Republic. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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 1

• Dow Jones reports three month nickel closed Thursday’s trading session at $8.31 . Indicators at 6:55 am CST today show 3 month nickel trading around $.07/lb higher, with most London traded base metals trading higher, but quieter. Stockpiles of nickel stored in LME approved warehouse rose on Thursday and now total 150,900 tonnes. Nickel is continuing its bullish run, after a slight pause yesterday. The retreat in the Chinese PMI does not appear to be having much of an effect on nickel, so we feel much of what is happening here is being triggered by technical signals, and not fundamentals. At the moment nickel appears to be in overbought territory. Our daily Chinese stainless steel index is on the rise as China prepares for its week long shut down for the Lunar New Year holiday. MarketWatch reports “Activity in the 17-nation euro zone’s manufacturing sector continued to shrink in January, but contracted at the slowest pace in 11 months, according to Markit’s final January purchasing-managers’ index for the sector released Friday. The index rose to 47.9 from 46.1 in December, coming in above an earlier estimate of 47.5.” This has given the Euro a boost, which in turn is a positive for base metals traders. Negotiations continue in Sudbury between Xstrata and Mine Mill, and the mere fact the two continue to talk after the deadline, is a good sign. Have a safe and relaxing weekend!
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index) (live java chart)
• Bloomberg metals morning – Copper Set for Biggest Weekly Advance in Four on Chinese Revival – more
• LME Morning – Base metals prices tick higher on increased optimism, market quiet ahead of US jobs data – more
• Latest updates from Mine Mill – more
• Sudbury Star – 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 Steel Daily Price Index – 91.09
• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• 304 Stainless Sabot Daily Scrap Pries – more
• European Debt Crisis Live – more
• Euro shines on upbeat euro zone data, yen slides – more
• China factories see only modest pick-up, Europe stabilizes – more
• Worst may be over for euro zone factories: PMI – more
• (China) Bleak forecast for steel producers – more
• China Jan manufacturing PMI falls to 50.4% – more

   Talks go through night – Negotiators for Xstrata Nickel and Mine Mill/C AW Local 598 were still bargaining in an effort to reach a new collective agreement at press time Thursday. – more

    Global Stainless Steel Output At A  Record High in 2012 – Official figures for worldwide crude stainless steel output in 2012 are estimated to have recorded another all-time high figure of 34.6 million tonnes, 2.6 percent higher than the previous peak, which was achieved one year earlier. Of the traditional stainless steel producing nations, only South Korea exceeded the previous year’s outturn. – more

  Nickel Jumps to 3-Month High as Steelmakers Stock Up on Growth – Nickel rose to a three-month high in London as stainless steelmakers, the biggest users, stocked up on metal amid signs of recovering economic growth. Copper fell. – more

  Outokumpu shows off facilities, seeks 25 percent of US stainless steel sales by 2015 (Gallery) – Outokumpu Stainless USA, the former site of ThyssenKrupp Stainless USA in Calvert, is looking to snag a quarter of the U.S. stainless steel market in the next two years, the company said today at a press event.  – more

   Demand for moly stainless scrap remains thin in Japan despite improved outlook – Demand for molybdenum-containing stainless steel scrap stayed lackluster throughout January in Japan, despite expectations that exports of steel products from the country would rise in the coming months due a stronger dollar versus yen, sources said Friday. – more

   Norilsk 2012 Nickel Production Up 2% to 300,340 Tons – OAO Norilsk Nickel (GMKN.RS), the world’s largest nickel and palladium producer, said Thursday its 2012 nickel output rose 2% to 300,340 metric tons, driven by increases in production at its international divisions in Africa and Australia, but predicted output will fall as much as 8.4% in 2013. – more

   LME’s Only Woman Trader Leaves to Join Hong Kong Exchanges – Bethan Wilde, the only woman trader on the floor of the London Metal Exchange, was hired by Hong Kong Exchanges (388) & Clearing Ltd. as senior manager of business development and strategy. – more

    S.Africa’s Merafe sees FY earnings lower on impairment – South African ferrochrome producer Merafe Resources forecast a drop in full-year earnings on Thursday, citing an impairment loss on a potential sale of high-cost assets, lower output and weak demand. – more

  Morning Nickel Inventory and Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  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

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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.