Stainless Steel News and Nickel Prices, Molybdenum, Stainless Steel Fasteners

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Thursday, August 31

• Three month nickel closed Wednesday’s trading session at $5.26/lb . Indicators at 6:20 am CST today show 3 month nickel trading around  $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Wednesday and now total just over the 389,150 tonne level. LME nickel stockpiles are now at their highest level recorded since January of 2016.   The charts seem to indicate $5.30 is giving nickel some tough resistance, rather than the $5.27/lb we forecast earlier. If it is able to beat this level, $5.40 could be be the last line of resistance traders face before we see $12,000 tonne traded. Many see this weekend as the last hurrah for summer in the Northern Hemisphere, and with stainless steel production typically firing back up with some purpose in September, it will be interesting to see if the increase in production that is already being reported, pays off for producers, and nickel traders. Monday is a holiday in the US so our next update will be Tuesday, September 5th. Have safe and relaxing weekend!
• Average price of cash nickel so far this month – $4.91/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – London copper set for 3rd monthly gain as China revs up demand hopes – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Stocks Advance on Growth Outlook; Dollar Steady: Markets Wrap – more

     Stainless steel sector: “Risk-reward looks favourable” says UBS – UBS upgrades Spain’s Acerinox to “buy” from “sell” and Luxembourg’s Aperam to “neutral” from “sell” on strong stainless steel demand – more

     Stainless steel demand keeps nickel high – Nickel prices have retreated, but held near nine-month highs due to healthy demand from China’s stainless steel mills and falling supplies from the Philippines, a top ore exporter, supporting sentiment. – more

     North American Stainless Press Release – For the month of September 2017, North American Stainless will increase the fuel surcharge to 20% for stainless flat and long products. The surcharge rate is considered a maximum level for September and will be reviewed monthly. – source

     China’s Foreign Trade Result of Molybdenum in Jan-Jun 2017 = When compared with year-earlier period, export is up by 5.4 times and import is up by 36% = According to the calculation to figure out volumes in pure Mo equivalent based on China’s customs statistics, the export volume in the former half of 2017 (January – June) was 16.0237 million lbs (up by 3.7 times as much as the year-earlier period) and the import volume was 15.3362 million lbs (up by 27.3% from the year-earlier period). – more

     Elon Musk’s Battery Demand Boom Lifts Japan Supplier Tanaka – As Elon Musk pushes out from his California base to make electric vehicles ubiquitous, a company halfway around the world and deep in the depths of the battery supply chain is riding his wake. – more

     BHP commits to nickel but will sell if price right – A leading BHP executive says the Big Australian ultimately plans to offload its Goldfields nickel assets, but not for any price. – more

     Dormant nickel miners keep tight rein on costs – WA’s dormant nickel miners have kept a tight rein on costs as they re-position themselves following the mothballing of a series of mines in the 2015-16 financial year. – more

     Poseidon considers lithium/nickel co-processing option at Lake Johnston as Kidman option lapses – ASX-listed Kidman Resources has allowed its option agreement to lease the Lake Johnston plant for its Mt Holland lithium operation to lapse. – more

     Amur Minerals eyes one million tonnes of nickel at Kun-Manie – Amur Minerals Corporation said drilling this summer has confirmed the presence of another massive nickel deposit at its Kun-Manie licence in Far East Russia. – more

  Morning Nickel Price Statistics & Figures

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

Wednesday, August 30

• Three month nickel closed Tuesday’s trading session at $5.31/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total over the 386,500 tonne level. Chinese metal analyst Antaike is forecasting nickel will trade over the $5.44/lb next month, while a technical advisor we watch, says the technical chart is sending a warning signal, and the market needs to go over $5.39/lb in the next few days to make it go away. Another Australian nickel miner reported it made money during the last fiscal year – a fiscal year that ended right before nickel prices jumped in July. We show nickel did close above resistance yesterday and a second close above $5.28/lb today should be a positive technical signal. Be we bow to the warning sign the technical advisor reports, as he is far more qualified to speak on the subject. News remains light as the summer season comes to an end.
• Average price of cash nickel so far this month – $4.89/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – London copper holds below three-year top as dollar rebounds – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• How would you explain a commodity market to a simple layman? – more
• World’s Leading Steel and DRI Producers in July 2017 – more
• Japan’s Steel Exports Plunged 17% in July; Imports Up 21% – more
• Trump Seems to Genuinely Want a Trade War With China – more
• Stocks Rebound as Korean Fears Abate; Gold Steady: Markets Wrap – more

     Antaike sees nickel smashing $12,000 per tonne barrier – Nickel futures will break through the $12,000 per tonne barrier next month amid robust demand and limited new supply in the short term, China’s research body Antaike forecast on Wednesday. – more

     The Northern Miner podcast – episode 71: The commodity forecast special – Matt’s back in studio this week with a forward-looking show on commodity price forecasts and analyst reviews. – more

     Independence back into black in 2017 – Diversified metals miner Independence Group has swung back into black during the full year ended June, with the miner reporting a net profit after tax of A$17-million, compared with a net loss after tax of A$58.8-million reported at the end of the 2016 financial year. – more

      Glencore lowers ferrochrome production guidance, sees nickel risks – Glencore expects to produce 1.59 million tonnes of ferrochrome in 2017, up from a confirmed 1.52mt output in 2016. This figure is down -4% on the previous guidance on account of additional market-driven maintenance, the commodities trading and mining group says. – more

     Zim-SA trade deficit widen by 15% – The trade deficit between Zimbabwe and South Africa widened by 15% to $131 million in the first seven months of the year, latest trade data from the Statistics Agency shows. – more

     Clive Palmer ‘putting 2500 Pilbara mining jobs at Sino Iron at risk’ – The Chinese owner of the $US12 billion ($15 billion) Sino Iron project has used its half-year results to again warn that its business partner Clive Palmer is continuing to put the future of the Pilbara mine and the jobs of its 2500 workers and contractors at risk. – more

  Morning Nickel Price Statistics & Figures

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

Tuesday, August 29

• Three month nickel closed Friday’s trading session at $5.21/lb . Indicators at 6:10 am CST today show 3 month nickel trading around $.15/lb higher. Stockpiles of nickle stored in LME approved warehouses reached a new record high on Monday and now total just over the 388,400 tonne level. The trading price of nickel is also at a 2017 high and we show it is currently trading at highs not seen since January of 2015. Nickel is trading just over a technical line of major resistance ($5.28/lb) and it will be interesting to see if this early morning, session opening spike, holds. BHP sent out a reminder, while nickel prices are on the increase, that it is still looking for a buyer of its nickel division. This comes on the heels of its announcement a few weeks ago that it was investing heavily in nickel for potential battery production. Bloomberg reported the S&P China Steel Sentiment Index dropped to 50.75 this month, after jumping to 55.32 last month.
• Average price of cash nickel so far this month – $4.87/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Copper touches near 3-yr high as inventories and dollar slip – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• ENSO and Indian Ocean Dipole persist at neutral levels – more
• (Bloomberg) The S&P Global Platts China Steel Sentiment Index slipped to 50.75 this month from 55.32 in July. The gauge is based on a survey of 75 to 90 China-based market participants including traders and steel mills.
• Stocks Drop, Gold Leads Haven Rally on Korea Fears: Markets Wrap – more

     BHP Billiton still plans to ‘ultimately’ sell its nickel division – BHP Billiton intends to sell its nickel division despite its decision to invest $US43 million in boosting its capacity to meet demand created by the boom in electric vehicles. – more

     Miner Thrown, Killed by Vehicle, Company Fined $200,000 in Death – Glencore Canada Corporation, owner-operator of the Nickel Rim South Mine, pleaded guilty and has been fined $200,000 in the death of a worker who was run over by a vehicle. – more

     Courtesy AISI – In the week ending on August 26, 2017, domestic raw steel production was 1,740,000 net tons while the capability utilization rate was 74.6 percent. Production was 1,655,000 net tons in the week ending August 26, 2016 while the capability utilization then was 70.8 percent. The current week production represents a 5.1 percent increase from the same period in the previous year. Production for the week ending August 26, 2017 is down 1.3 percent from the previous week ending August 19, 2017 when production was 1,763,000 net tons and the rate of capability utilization was 75.6 percent. – source

     Palmer to meet with Qld Nickel workers – Clive Palmer says he’s got nothing to fear from a meeting with sacked Queensland Nickel workers as he’s still pursuing plans to get their jobs back. – more

  Morning Nickel Price Statistics & Figures

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

Monday, August 28

• Three month nickel closed Friday’s trading session at $5.21/lb . Indicators at 6:25 am CST today show 3 month nickel trading unchanged as London Metal Exchange markets are closed today for Summer Bank Holiday. Stockpiles of nickel stored in LME approved warehouses rose on Friday and with 387,450 tonnes, we now have more nickel in LME warehouses than anytime this year. Nickel prices rose on Thursday, but fell back on Friday and ended the week at $5.21/lb, up $500/tonne for the week. Shanghai nickel prices are lower today but in our opinion, the Shanghai Metal Exchange pretty much just shadows the London Metal Exchange so what we are seeing today, is most likely a reaction to Friday’s dip in London.  Even with a near 2-1/2% fall on Friday, nickel is still trading among its 10, 30 and 100 day MVA. Technical signals have turned negative, but the market hasn’t been paying particular attention to what appears to again be, a mere reflection, and not a signal, of what is happening at the moment, or the day before. If the computers are trading based on the technical signals, then Tuesday could be interesting. But human traders appear to remain bullish, despite an abundance of inventory, so unless technical traders are able to spark a rush for the exit, we are more likely seeing the market correct and work off some of the fat from its overbought status. Markets reopen tomorrow.  
• Average price of cash nickel so far this month – $4.87/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Shanghai metals mixed as shine comes off steel – more

  Reports

• July 2017 crude steel production – more
• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• (SO) CISA mills’ average daily crude steel output up 0.87% in early August
• US Steel imports shoot up 22% during Jan-July – more
• Steel Industry Letter – August 2017 – pdf here
• Trump on China: ‘I want tariffs. And I want someone to bring me some tariffs’ – more
• How Australia’s iron ore miners hit the sweet spot – more
• Europe Stocks Drop on Euro Strength; Dollar Steady: Markets Wrap – more

     China’s metals trade fragments into multiple narratives: Andy Home – China’s metals trade figures were once a spotlight on the state of the world’s manufacturing engine and price driver. – more

     Clarion call for metal bulls as Citigroup hails reforms in China – Commodity markets from base metals to iron ore are tightening globally as Asia’s top economy presses on with supply-side reforms including plant closures, according to Citigroup Inc, which raised price forecasts and predicted steel will “go through the roof”. – more

     Philippines to expand mining ban to watershed areas, ore exports – The Philippines may soon toughen up its already hard-core stance on mining by banning the activity in watershed areas, blocking the export of unprocessed minerals and forcing companies to seek legislative approval before operating. – more

• To Lift Or Not?: MICC examines open pit mining ban – more

     Prices of CR Stainless Sheets Take on Further Rise Aspect in Asia – Prices of cold-rolled (CR) stainless steel sheets continue to surge in the Asian region. – more

     In response: Consider copper-nickel mining with informed skepticism – In voicing support for copper-nickel mining in northern Minnesota, a recent letter argued that mining sulfide ore would be no worse than natural processes already exposing these minerals at the surface (“Modern science means mining safe,” July 15). – more

     The Arctic Waterway to Russia’s Economic Future – The Northern Sea Route (NSR) is the Arctic national waterway of the Russian Federation, stretching some 3000 nautical miles and seven time zones across the top of Eurasia. – more

     The Dark Price That a Seasnake Paid to Live in a Polluted World – Turtle-headed seasnakes (Emydocephalus annulatus) in polluted waters are changing colour. Creatures of the Indo-Pacific coast, they usually have high contrast black and white bands or blotches encircling their bodies from head to tail. – more

     Palmer jets into Qld Nickel ground zero – While Clive Palmer was jetting into Townsville today, a judge was slamming his lawyers in Brisbane for bringing up last-minute evidence in a $22 million lawsuit. – more

  Morning Nickel Price Statistics & Figures

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

Thursday, August 24

• Three month nickel closed Wednesday’s trading session at $5.26/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and now total 385,200 tonnes. We started the week with nickel looking like it might meet some resistance at $11,000/tonne, and now we are more than half way to the $12,000 tonne level. With nickel trading lower we expected that some of the technical signals might have turned bearish, but so far, they all remain either bullish ,or sending the same overbought signal they have for over  a month now. Reuters yesterday gave the following three reasons for the bull market. “Nickel prices have surged to an eight-month high on expectations of strong demand from top consumer China, supply concerns and declining stockpiles. Notice the key words “expectations” , which is based on speculation, “concerns” also based on speculation about the Philippines, and declining stockpiles, based on something besides reality. But no worry. We posted a link to a story yesterday, that announced the bull market for metals was over. On that news, nickel bounced another 1.6%. This is our last update for the week so we wish each of you a safe and relaxing weekend.
• Average price of cash nickel so far this month – $4.82/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Copper rises on China demand, falling inventories – more

  Reports

• July 2017 crude steel production – more
• Stainless steel raw material tracker – July 2017 – more
• Steel Imports Up 22% YTD Over Same Period In 2016 – pdf here
• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• SO – Trump threatens to terminate NAFTA at campaign rally
• Dollar, Europe Stocks Firm as Jackson Hole Arrives: Markets Wrap – more

     Nickel surges on strong Chinese demand – Nickel prices have surged to an eight-month high on expectations of strong demand from top consumer China, supply concerns and declining stockpiles. – more

• Nickel price strengthens on both supply, demand fundamentals – more

     European stainless steel surcharges halt falling trend in September – Monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products in Europe are set to rise in September for the first time in five months on higher nickel and molybdenum prices, first mill announcements indicated. – more

     Nickel mining: the hidden environmental cost of electric cars – The extraction of nickel, mainly mined in Australia, Canada, Indonesia, Russia and the Philippines, comes with environmental and health costs – more

     Indigenous workers at Voisey’s Bay anxious about Vale review of nickel operations – Global mining giant Vale’s decision to review its global operations in light of depressed nickel prices is causing anxiety among Indigenous workers at its Voisey’s Bay mine in Labrador. – more

     BHP nickel outlay signals confidence – Local stakeholders in Kwinana have welcomed the news that BHP’s Nickel West division is set to invest $US43.2 million for a nickel sulphate project at its Kwinana refinery. – more

  Morning Nickel Price Statistics & Figures

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

Wednesday, August 23

• Three month nickel closed Tuesday’s trading session at $5.18/lb  . Indicators at 6:25 am CST today show 3 month nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME approved warehouses rose again on Tuesday and now total just under the 386,000 tonne level. LME stockpile numbers are now only 427 tonnes shy of a record high for the year. The Euro is trading higher this morning, which apparently is only helping nickel, with other base metals trading much quieter. Nickel is currently trading at levels we haven’t seen since December of last year, and may be bump into strong resistance at $5.27/lb very soon. Since July 10th, the traded price of nickel has risen 32%, and technicals are mixed between overbought and buy. Fundamentals remain the same with teh market apparently betting on news things in China may be picking up, and hopes the public will rush to buy battery operated vehicles.
• Average price of cash nickel so far this month – $4.80/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – London metals consolidate on stronger dollar ahead of Jackson Hole – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Robin Bhar, metals research at Societe Generale – “There’s nothing really fundamental to drive things onwards from here, so I think it’s a bit of misplaced euphoria and trend-following buyers jumping on the bandwagon”
• (SO) Freight volumes on China’s railways up 15.1 percent in January-July
• Euro Gains on Strong Manufacturing Data; Oil Falls: Markets Wrap – more

     Gadfly: The great metals rally of 2017 has come to an end – All good things must come to an end — and the great metals rally of 2017 is no exception. Prices of key industrial metals on the Shanghai Futures Exchange slumped on Wednesday, for no very obvious reason other than profit-taking. – more

     AK Steel said today that it will increase base prices for all of its stainless steel products, effective with shipments on September 3, 2017. For commodity sheet and strip, specialty sheet and strip, and pipe and tube sheet and strip products, the increase will be achieved through a reduction in the functional discount of two percentage points. For all remaining stainless steel products, including automotive sheet and strip, base prices will be increased by $40 per ton.

     Sudbury to get first crack at Ring of Fire nickel – Four northern Ontario cities — Sudbury, Timmins, Sault Ste. Marie and Thunder Bay — are in the running to be home to a ferrochrome smelter which will process chromite from the Ring of Fire mineral deposit. – more

     Global Nickel demand exceeds production by 60.3 kilo tons – Global Nickel market was in deficit during January to June this year, with apparent demand exceeding production by 60.3 kilo tons, according to the latest figures from World Bureau of Metal Statistics. – more

     Miners drive global share market gains on BHP’s return to profit – BHP’s return to profit boosted European markets. Confidence was also helped by the big miner’s plan to sell off its US shale oil and gas division, which has cost it multi-billion-dollar write-downs and much pressure from US activist hedge fund Elliott, which has taken a 5 per cent stake in the company. – more

     Clive Palmer in court to try and prevent asset freeze – Queensland Nickel’s taxpayer-funded liquidators want to adjourn an application to freeze Clive Palmer’s assets, to go through more than 3000 pages of documentation lodged in the past two days. – more

• Queensland Nickel: Clive Palmer says suggestions he could offload assets ‘absurd’ – more
• Clive Palmer drops big names to show court he is a good Christian – more

  Morning Nickel Price Statistics & Figures

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

Tuesday, August 22

• Three month nickel closed Monday’s trading session at $5.13/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just over the 385,500 tonne level. Stockpiles jumped up to 35% on Monday, just in time to kick start another rally. At least one China metals analyst believes the nickel rally is due to demand improvement in that country. September stainless steel surcharges have been posted and are not as bad as we thought – see them here. Comparing the ingredient prices one of the producers uses to determine their surcharge, we see nickel averaged $.03/lb higher than it did for the February surcharge, but the drop in ferrochrome from $1.65/lb back then to the current $1.10/lb this month, made a big difference and helped surcharges come in 17% lower than they were for February. At least one stainless steel producer in the US announced a base price increase yesterday as well. Nickel is now trading at its highest for the year, and we are back to December 2016 levels. And nickel stockpiles that LME reports every day – they are only 864 tonnes shy of their highest for the year. None of this really matters. We have seen the bull charge many times before, and our advise is stop trying to understand ‘why’ it is happening, rather jump on board or get out of the day and wait the charge out. Oh and one last thought. The sky is falling daily barrage from nickel miners about potential closures due to teh low prices – one nickel miner in Australia announced it was profitable during the period prior to this latest increase in nickel prices. Believe it or not.
• Average price of cash nickel so far this month – $4.77/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – London copper hits 3-yr high as miners rally on strong results – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Stocks Rebound in Thin Trading; Gold, Bonds Slide: Markets Wrap – more

     Base Metals Extend Best Rally in Three Years on Growth Optimism – Industrial metals extended their longest weekly rally in three years, with nickel pacing gains and zinc reaching the highest in almost a decade as investors grew more optimistic about the outlook for supply and demand. – more

     Press Release North American Stainless – To Our Valued Customers, Due to rising manufacturing and operational cost, it is necessary that NAS increase the price on the following products effective with shipments September 1, 2017: • Cold Rolled 300 series, 200 series, and 400 series increase achieved by reducing the functional discount 2 points. • Polish extra increase achieved by reducing the functional discount 10 points. • Continuous Mill Plate (CMP) increased by $60/ton ($.03/lb).Please note, all active requests for quote will be subject to the price changes listed above. – source

    Western Areas returns to profitability – Nickel miner Western Areas has returned to profitability in 2017, as revenues increased. – more

     Visa Steel suspends Kalinganagar operations as raw material supplies stop – Visa Steel said it has gone for temporary suspension of all its operating units at Kalinganagar as raw material supplies have been abruptly halted to its plant. – more

     Ring announcement fails to impress opposition – Development of the chromite-rich Ring of Fire region in Northern Ontario is one step closer after the premier announced Monday that agreements with First Nations are in place to start road construction in the area. – more

     Super cheap solar – and why that’s good for Australia’s mining sector – Australia’s most pre-eminent solar researcher, Dr Martin Green, says the cost of solar PV technology will fall substantially in coming years, and while bad for the country’s thermal coal industry it will spell good news for other Australian mineral and materials exports. – more

     Courtesy AISI – In the week ending on August 19, 2017, domestic raw steel production was 1,763,000 net tons while the capability utilization rate was 75.6 percent. Production was 1,655,000 net tons in the week ending August 19, 2016 while the capability utilization then was 70.8 percent. The current week production represents a 6.5 percent increase from the same period in the previous year. Production for the week ending August 19, 2017 is down 1.0 percent from the previous week ending August 12, 2017 when production was 1,780,000 net tons and the rate of capability utilization was 76.4 percent. – source

  Morning Nickel Price Statistics & Figures

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

Monday, August 21

• Three month nickel closed Friday’s trading session at $4.98/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.11/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the week just under 384,600 tonnes. Cancelled warrants have been slipping lately and are close to falling below the 30% level. This figure will need to stabilize or start heading up to continue to support the spike in nickel prices. Nickel prices ended Thursday slightly lower, but started another round of price jumps on Friday, closing just shy of the psychological important $11,000/tonne. That level is now in the rear view mirror and we can find no particular reason for the jump Friday. There is a bull market going on in all of the traded base metals, and some of the rise in nickel can be attributed to renewed investor interest. The Baltic Dry Index is on the rise, the Euro has stabilized the last few days, iron ore prices are rising, and Chinese steel prices are trading just off record highs. Nearly all of this is because caused by speculation. For those who are trading bullishly, the market has been kind, Bears are n the wings, waiting for their time. In the mean time, nickel miners are happy. Stainless steel producers are not exactly unhappy. With the nickel prices rising with some consistency, they are seeing their inventory increase in value every day. But those who have been producing longer than a few months, know that what goes up, can come down with equal emphasis, and the stainless steel industry is not a fun one to be in when nickel prices start falling.
• Average price of cash nickel so far this month – $4.75/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – London zinc, nickel stretch rally on steel gains – more

  Reports

• Damstahl Stainless Steel Report – August 2017 – pdf here
• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• China Photo of the Day: Nickel City – more
• AISI Comments on Trade Violations and Abuses – more
• Stocks Retreat as Focus Shifts to Central Bankers: Markets Wrap – more

     Metals shine but world stocks stuck near 5-1/2-week low – World stocks struggled at a 5-1/2-week low on Monday, though metals dazzled with zinc at its highest in a decade, copper hitting a nearly three-year high and iron ore’s gains in the last two sessions stretching to 5 percent. – more

     Nickel Price Surges, But Market Remains Vulnerable – Nickel prices staged a strong recovery over July and into early August. On August 9, the nickel price had traded to an intraday high of US$10,835/tonne, a five-month peak – more

     Global Nickel demand exceeds production by 60.3 kilo tons – Global Nickel market was in deficit during January to June this year, with apparent demand exceeding production by 60.3 kilo tons, according to the latest figures from World Bureau of Metal Statistics. – more

     Economic Data Doesn’t Add Up for Service Centers – The numbers are pretty staggering. Through the first seven months of the year, the Institute for Supply Management’s PMI, the go-to read on the state of the industrial economy, is reaching numbers the U.S. hasn’t seen in years. – more

     Voisey’s Bay underground mine on hold – CBC News has learned plans to extend the life of the Voisey’s Bay nickel mine in northern Labrador by moving operations underground – already once delayed – are now on hold. – more

     Visa steel unit of Odisha on verge of closure! – Visa steel unit in Odisha is likely to be shut down completely due to shortage of raw material in the plant. more

     DMCI’s Nickel shipments drop 71% – DMCI Mining Corp. reported a drastic drop in nickel shipments during the first half of the year, as its two operating subsidiaries remained suspended during the period. – more

     Qld Nickel figures lose Federal Court bid – Two senior Queensland Nickel figures have lost a Federal Court bid to avoid facing further questions about the collapse of the nickel refinery. – more

     Why Clive Palmer’s assets have been dragged into the Queensland Nickel fight – Clive Palmer, who could be forced to hand back almost $250m from his fallen nickel business, has cashed out of the prime real estate that was the visible tip of a fortune once put at $6.5bn. – more

  Morning Nickel Price Statistics & Figures

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

Thursday, August 17

• Three month nickel closed Wednesday’s trading session at $4.88/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel held in LME licensed warehouses fell slightly on Wednesday and now total just under the 385,200 tonne mark. Will LME copper trading at its highest since Nov 2014, aluminum at its highest since September 2014, and zinc trading at its highest since 2007, nickel’s bull run, while impressive, is not setting records at the pace of the the rest of the London base metal complex. Al of these metals are taking a rest today, with metals trading quietly as the US Dollar gains strength against the Euro today. Chart here We show nickel bumping against resistance at $4.89/lb today. industry news is on the light side again, which is typical for August. Stainless steel surcharges for September should be announced late next week or early the week after, but you can just about bet on an increase, based on the trading price of nickel alone. Cash nickel has averaged $4.73/lb so far this month, and we estimate that will move higher in the days coming. If you go back to February of this year, nickel averaged $4.81/lb for the month, and while ferrochrome was selling for a higher price back then, if you need an early estimate, that would be where we recommend you look for a close comparable estimate. This is our final update for the week, so we wish each of you a safe and enjoyable weekend, and invite you back next week for daily morning updates.
• Average price of cash nickel so far this month – $4.73/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Copper, aluminium, zinc rise to multi-year highs as China reforms curb supply – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Is this the Start of a Hot New Metals Bull Market? – more
• Euro, Stocks Drop Before ECB Minutes; Bonds Gain: Markets Wrap – more

     Ravensthorpe’s silver lining – Businesses in the Shire of Ravensthorpe remain optimistic as the local economy braces for the impact of the mothballing of First Quantum Minerals’ nickel mine, saying it will not be as catastrophic as the 2008 closure, when former owner BHP closed the mine and sacked 1800 workers. – more

     40% Of The World’s Largest Mining Companies Are Now In Emerging Markets – The mid-2014 commodity price crash spelled bad news for most commodity miners. Over time, however, the markets have seen a recovery in most metals. – more

     Why Clive Palmer’s assets have been dragged into the Queensland Nickel fight – Clive Palmer, who could be forced to hand back almost $250m from his fallen nickel business, has cashed out of the prime real estate that was the visible tip of a fortune once put at $6.5bn. – more

• Palmer, liquidators settle plane case – more

  Morning Nickel Price Statistics & Figures

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

Wednesday, August 16

• Three month nickel closed Tuesday’s trading session at $4.69/lb . Indicators at 6:30 am CST today show 3 month nickel trading around  $.11/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose for a second straight day on Tuesday and now total just under the 385,600 tonne level. After three days of declines, nickel appears to have decided it has retracted enough and has resumed its bullish run. We are hesitant to post a resistance or support since nickel seems to break thru resistance before we can publish them but we will take a shot today. Put initial resistance at $4.89/lb and if today’s rally sticks, we put last night’s $4.69/lb as support. Nearly all the technical signals have returned to positive and on this rally, are starting to prove themselves worthless to longer term traders. Instead of being signals, they appear to be more a reflection of the days trend. Euro is fairly stabile against the US Dollar. And the Baltic Dry Index is back on the rise, for the believers. The nuclear rhetoric has died down, and markets appear to be reacting positively.
• Average price of cash nickel so far this month – $4.72/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – London zinc hits highest in a decade on China construction spend – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Growth Outlook Boosts Europe Stocks; Dollar Steady: Markets Wrap – more

     Global nickel deficit narrows to 2,200 T in May – INSG – A global deficit of refined nickel narrowed in May to 2,200 tonnes from a revised deficit of 5,200 tonnes the month before, data from the International Nickel Study Group showed on Tuesday. – more

     Philippines H1 Nickel Ore Output Falls 24 Pct on Suspensions, Weather – Nickel ore output in the Philippines, the world’s top supplier, fell 24 percent in the first half of the year as several mines stopped operations due to government sanctions and bad weather, the mining industry regulator said on Tuesday (15/08). – more

     Strong rouble, one-off expenses hit Russia’s Nornickel’s H1 earnings – Russia’s Norilsk Nickel reported a 3 percent fall in first-half core earnings on Tuesday, missing analysts’ forecasts, due to a stronger rouble and a jump in social expenses. – more

     Miner’s withdrawal from Solomons prompts call for better regulation – The chair of Solomon Islands’ Chamber of Commerce has expressed regret over the withdrawal of Japanese mining giant Sumitomo. – more

     Court to decide on international arrest warrant for SA businessman – South African business tycoon Zunaid Moti‚ in a high court application‚ has called on President Jacob Zuma and his government to help him hold off an international arrest warrant for him – more

     Mystery Kyrgyzstani woman’s Clive Palmer payday – Clive Palmer “personally ­requested” Queensland Nickel’s chief financial officer to urgently funnel $1 million to mysterious Kyrgyzstani woman Evgenia Bednova for the alleged purpose of “representation fees” in ­November 2012, a court has heard. – more

• Clive Palmer accused of being ‘less than frank’ as liquidators seek to freeze his assets – more

  Morning Nickel Price Statistics & Figures

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

Tuesday, August 15

• Three month nickel closed Monday’s trading session at $4.74/lb . Indicators at 6:20 am CST today show 3 month nickel trading around only slightly higher, by far less than a percent. Stockpiles of nickel saw a huge jump yesterday and now total just under the 384,300 tonne level. The high for the year was back on March 15th at 386,400 tonnes, so the inability for these numbers to drop with any consistency, casts serious doubt on those who are trying to sell supply shortages in the futures. They will come – mining is a cyclical industry. But there is little  evidence shortages will affect the market anytime soon. Industry market news dried up today, and the Australian Palmer soap opera is about the only thing we could link to. Nickel looks vulnerable, with technical signals pointing south, but the Euro is showing signs of stability against the US Dollar so…..?
• Average price of cash nickel so far this month – $4.72/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Shanghai metals slip on industrial outlook, dollar – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• ENSO neutral likely for the remainder of 2017 – more
• Dollar Extends Gain as Havens Slump; Bonds Decline: Markets Wrap – more

     Layoff talk premature, Bertrand says – Vale may have to make some hard decisions in coming months regarding its operations in Sudbury, but the head of a local union says it’s premature to talk about job losses. – more

     Courtesy AISI – In the week ending on August 12, 2017, domestic raw steel production was 1,780,000 net tons while the capability utilization rate was 76.4 percent. Production was 1,655,000 net tons in the week ending August 12, 2016 while the capability utilization then was 70.8 percent. The current week production represents a 7.6 percent increase from the same period in the previous year. Production for the week ending August 12, 2017 is up 1.0 percent from the previous week ending August 5, 2017 when production was 1,762,000 net tons and the rate of capability utilization was 75.6 percent. – source

     Clive Palmer’s status as a ‘National Living Treasure’ questioned after Qld Nickel collapse – There are growing calls for fallen businessman Clive Palmer to be stripped of his “National Living Treasure” title in the wake of his behaviour after the collapse of Queensland Nickel. – more

• Clive Palmer still a national treasure, NSW National Trust says – more
• Clive Mensink asked Clive Palmer’s aid for help with cruises – more

  Morning Nickel Price Statistics & Figures

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

Monday, August 14

• Three month nickel closed Friday’s trading session at $4.84/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses rose sharply on Thursday and fell back on Friday to start the week just shy of the 375,300 tonne level. Nickel dropped on Friday, giving back its prior two days of gains, as the nuclear sword rattling from North Korea and the US, rattled traders nerves. Nickel continues to trade lower this morning, but its range remains above its 10 day MVA. Nearly all of the technical indicators have now turned negative. Vale Canada’s union has advised they have been advised of potential lay-off’s coming in light of low nickel pricing. Lot of talk lately about potential mine closures and lay-offs, but nickel stockpiles held in LME warehouses have yet to show any serious affect on world supply. Thank you for joining us today and we hope your week is profitable.  
• Average price of cash nickel so far this month – $4.72/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – London metals mixed after disappointing China factory report – more

  Reports

• U.S. Exports of Stainless Steel Mill Products – more
• GAG Metals Monitor – pdf here
• Nickel Magazine Vol 32-2 – more
• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Chinese Steel prices to correct down as market fever cools down – more
• You have been warned. Risks mount for China steel, iron ore: Russell – more
• Stocks Bounce and Havens Drop as Korea Fears Abate: Markets Wrap – more

     Nickel slides as investors shun risk – Nickel and other base metals have slumped as investors shunned risky assets amid tensions on the Korean peninsula and secured profits after a recent rally. – more

     DENR orders nickel miner to stop operations – The Department of Environment and Natural Resources (DENR) has issued a cease-and-desist order (CDO) to Ipilan Nickel Corp. (INC) for operating without an environmental compliance certificate (ECC). – more

     BHP Billiton to ramp up WA nickel sulphite production for booming battery market – Mining giant BHP Billiton’s Nickel West business has approved a huge expansion of its operations at Kwinana in Western Australia. – more

     Vale looking at layoffs in Sudbury – Vale Ltd. employees in Sudbury are bracing for possible layoffs after viewing a company video in recent days they say warned that the Brazil-based mining giant could soon be making cuts. – more

     Afarak Swings To Second Quarter Profit After Higher Ferrochrome Prices – Afarak Group PLC on Friday said it swung to a second quarter profit following higher ferrochrome prices. – more

      Sumitomo withdrawal a setback to the industry: SICCI – The Solomon Islands Chamber of Commerce & Industry (SICCI) has expressed regret over the withdrawal of Japanese nickel mining giant Sumitomo Metal Mining, and called for improvement to the regulatory policies for incoming investors and businesses. – more

     Environmental ‘politics’ hurting Palawan : 25-year-old law failed to protect Palawan from destructive development projects – Is Palawan safe from destructive development projects? Apparently not, even with Republic Act (RA) 7611, or the Strategic Environmental Plan (SEP) for Palawan Act, in effect for a quarter of a century now. – more

• Light at the end of the tunnel? – more

     Hope not lost in Hopetoun as it suffers through job losses for a second time – It is a body blow that would have other country towns struggling to stay on their feet — but Hopetoun has been through worse. – more

     No. 13 2017/2018 – Dangers of Carrying Nickel Ore from Indonesia and the Philippines – Mandatory Notification Requirements (re-issued) – The liquefaction of such cargoes has resulted in the sinking of a number of ships with a loss of many lives in the last 18 months. – more

  Morning Nickel Price Statistics & Figures

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

Thursday, August 10

• Three month nickel closed Wednesday’s trading session at $4.88/lb . Indicators at 6:10 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 374,400 tonne level. The media is all abuzz with the news that Ravensthorpe is shutting down and that BHP is chasing the EV nickel business. This potential effect on supply, and at the same time, forecasting an expansion in demand, is helping keep the bull market alive, and adding a little dance to its step starting late yesterday. These are both stories we brought you yesterday, and the mainstream media is catching up. We have established $5.00/lb as the next line of resistance, only because prior lines have been passed faster than we can publish them. Here is where we are at in comparison to the year so far. Nickel averaged a high of $4.81/lb in February and a low of $4.16/lb in May. For the first six months of the year, it averaged $4.43/lb. It traded for $5.06/lb at one point on February 20th, which is probably a better line of resistance, and we show that for the high this year. It has traded as high as $5.29/lb back in November of last year, which we show as the last12 month trading high. The Euro has taken a noticeable hit this past week, with no effect on nickel trading. The nuclear sabre rattling yesterday hit world equity markets, but nickel seemed to join gold in safe haven buying. Nothing seems to be getting in the way of this bull run, and the only way to escape a stampede is not to get in its path. For sellers of nickel, the increase in price is a breath of fresh air. For buyers, not so much. Stainless steel products, which had seen some nice price decreases earlier this year, started rebounding last month, and will continue to do so. Love it, or hate it – the bull is in charge. We hope you find your weekend a restfuil and pleasant one, and hope to see you back next week. Thank you for visiting with us.
• Average price of cash nickel so far this month – $4.68/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – London metals take a breather on N.Korea tensions – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Europe Stocks Track Asia Losses; Dollar, Oil Climb: Markets Wrap – more

     Elon Musk Inspires World’s Top Miner to Target Electric Vehicle Boom – Observations by Tesla Inc.’s Elon Musk on the key role nickel plays in the electric vehicle boom helped inspire the world’s top miner BHP Billiton Ltd. to invest in new capacity to target rising demand. – more

     Glencore thrives amid “best commodity market in six years” – Glencore delivered as widely expected for the six months ended June 30 declaring a $500m dividend after hauling in net debt a further $1.6bn to $13.9bn. – more

     Vale Indonesia struggles to find nickel smelter partners after rule change – CEO – Nickel producer Vale Indonesia said Indonesia’s recent policy shift to allow ore exports is helping keep global prices of the metal low, and complicating efforts to establish partnerships for new smelter investments. – more

     Forbes puts Magnit, Norilsk Nickel on most innovative firms list – Russian retailer Magnit and metals giant Norilsk Nickel were put on Forbes’ list of the world’s 100 most innovative companies, according to a statement on Forbes’ Web site seen by PRIME late Wednesday. – more

     Citic Pacific blocked from accessing Clive Palmer’s Mineralogy financial records – Clive Palmer has won a bid to block court rival Citic Pacific from gaining access to his flagship company Mineralogy’s books. – more

  Morning Nickel Price Statistics & Figures

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

Wednesday, August 9

• Three month nickel closed Tuesday’s trading session at $4.82/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and started the day just over the 374,500 tonne level. The warnings of potential nickel closures has been met by rising nickel prices so as expected, more nickel mines have joined the chorus. Australia’s Ravensthorpe actually did announce they will be on care and maintenance in the next few months, after reopening in 2011. We suggest keeping an eye on the Euro, which has been on the climb against the US Dollar since mid April, but is showing signs of a potential hiccup the last few days. With the Euro higher, base metals are less expensive to traders, and any change in that could put pressure on nickel’s current bull market. Current traded prices of nickel are back to March levels, and there has been little evidence a bear might rear his head anytime soon. That is, unless the nuclear saber rattling intensifies. Technicals continue to be bullish. Stockpiles remain ahead of where they were at the beginning of the year, but off 2017 highs.
• Average price of cash nickel so far this month – $4.65/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Aluminium and copper extend rally on capacity cuts – more

  Reports

• Stainless steel market update July’17 – more
• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Havens Jump on North Korea Tension; Stocks Slide: Markets Wrap – more

     BHP to tap into battery market with big nickel sulphate facility in WA – BHP Billiton has approved $US43.2 million in funding to develop the first stage of the world’s largest nickel sulphate facility in a bid to tap into the rapidly growing lithium-ion battery supply chain. – more

• BHP to build world’s largest nickel sulfate plant as EV market eyed – more

     Environment body voids permit of Palawan mine – An environment regulatory agency revoked a special permit it issued to a nickel mining company operating in southern Palawan in the wake of controversies hounding the firm. – more

     New Caledonia Vale’s nickel plant fuels fear of mass lay-offs – Unions in New Caledonia fear that the Vale nickel plant could close within half a year and trigger the biggest wave of job losses the territory has seen. – more

     First Quantum Minerals To Suspend Ravensthorpe Nickel Operations – Quick Facts – First Quantum Minerals Ltd. (FM.TO) announced Wednesday its intention to suspend operations at its Ravensthorpe nickel operation, in Western Australia, and place it on care and maintenance at the beginning of September 2017 due to the persistently low nickel price. – more

     Low Nickel Price, Vale Indonesia Scraps Smelter Construction Plan? – Vale Indonesia, Indonesia’s largest nickel producer, may need to scrap its plan to build a USD $500 million smelter in Bahodopi (South Sulawesi) as its strategic Chinese partner, for now, backed away from the project due to falling nickel prices. Initially both sides agreed to form a joint venture for the establishment of the smelter. – more

     Over 70 firms eye BCL assets – Provisional liquidator Nigel Dixon-Warren, who can only be confirmed as final liquidator by the creditors at their next meeting, said there has been positive response from interested parties on BCL as evidenced by a lot of enquiries coming in. – more

     Indian investor snaps up 70pc Zim-Alloys stake – An unnamed Indian investor will snap up a 70 percent stake in Zimbabwe’s second largest ferro-chrome producer Zim-Alloys after judicial manager Reggie Saruchera sealed a deal for a $90 million investment. – more

  Morning Nickel Price Statistics & Figures

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

Tuesday, August 8

• Three month nickel closed Monday’s trading session at $4.72/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just under the 374,000 tonne level. Nickel rose yesterday but has retreated this morning, and is currently trading near the 10 day MVA. Faling below this could sne d anegative signal to traders, so I suspect a strong attempt to stay above this level today. The 30 day MVA is more important and is around $4.39/lb and climbing at the moment. According to the ISSF, worldwide stainless steel production for the first three months of 2017 was way up. And  Interpol has joined the worldwide search for Clive Mensink
• Average price of cash nickel so far this month – $4.65/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Aluminium hits 2-1/2 year peak on China shutdowns – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• New solid lubricant shown to reduce friction and wear on steel surfaces – more
• G20 Strengthens its Position on Global Steel Excess Capacity – more
• Steel Import Decision Coming ‘Fairly Soon’, says Donald Trump – more
• Euro Extends Gain as Stocks Struggle; Gold Climbs: Markets Wrap – more

     LME Ni Average Price in July Up by 6% from Prior Month = It shows strong upward trend from middle of month, and month-end inventory is up = LME monthly average nickel price in July 2017 was Cash seller: US$9,481.67 per ton (US$4.301 per lb) and 3-month seller: US$9,529.52 per ton (US$4.323 per lb). – more

     Stainless Steel Production Reached 10.3 Million Metric Tons in the First Three Months of 2016 – The International Stainless Steel Forum (ISSF) has released figures for the first three months of 2017 showing that stainless steel melt shop production increased by 14.5% year–on–year to 11.8 million metric tons. – more

     New Caledonia’s nickel sector shaken up, 5,000 jobs in danger – “That’s 5,000 employees and that means 10,000 people who need to be fed”, a unionist Pascal Pujapujane told New Caledonia’s television station after the latest briefing by the Vale leadership. – more

     Nickel and copper production up sharply in Monchegorsk – In Monchegorsk, productions of salable nickel is up 38% year-on-year from first half of 2016 to first half of 2017, the company informs. 74,568 tons of nickel was produced at the factory in Monchegorsk from January to June this year. – more

     Sumitomo Metal Mining exits Solomon Islands nickel exploration project – Japan’s Sumitomo Metal Mining Co Ltd. said on Tuesday it will exit from a nickel exploration project in the Solomon Islands because of slumping nickel prices and the loss of a legal dispute over mining rights in the country. – more

     Courtesy AISI – In the week ending on August 5, 2017, domestic raw steel production was 1,762,000 net tons while the capability utilization rate was 75.6 percent. Production was 1,658,000 net tons in the week ending August 5, 2016 while the capability utilization then was 70.9 percent. The current week production represents a 6.3 percent increase from the same period in the previous year. Production for the week ending August 5, 2017 is down 0.4 percent from the previous week ending July 29, 2017 when production was 1,769,000 net tons and the rate of capability utilization was 75.9 percent. – more

     Interpol joins search for Clive Mensink over Queensland Nickel collapse – Interpol has been asked to help search for former Queensland Nickel director Clive Mensink who is wanted to give evidence over the collapse of the company last year, with the loss of hundreds of jobs. – more

• Clive Palmer’s empire was spending $1 million a year on Brisbane headquarters – more

  Morning Nickel Price Statistics & Figures

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

Monday, August 7

• Three month nickel closed Friday’s trading session at $4.65/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME approved warehouses stalled on Thursday and rose sharply on Friday to start this week just under the 375,300 tonne level. Nickel gave back a few days gains on Friday, and is looking for a direction today. The slide helped clean up some of the technical signal confusion and most markers are positive again today, although some show an overbought market. In todays trading so far, the price of nickel is finding resistance at $4.71/lb and support at $4.65/lb. One of the world’s largest meetings for miners is going on this week in Kalgoorlie, West Australia. The Diggers and Dealers mining conference tends to produce a few nuggets of information, although trading is ‘typically’ subdued for the first few days. Its the start of a new week and we hope yours is profitable.
• Average price of cash nickel so far this month – $4.64/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Copper steady after hitting two-year peak – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Diggers and Dealers: This ‘abnormal’ glistening golden era can’t last, warns former World Bank president Robert Zoellick – more
• Euro Shrugs Off German Data to Rise; Crude Drops: Markets Wrap – more

     Nickel rallies but still seeking a coherent narrative: Andy Home – The nickel price has rallied by almost 18 percent over the last month. – more

     ‘Less attractive price environment’ looms for stainless scrap – Global: Stainless scrap values are currently ‘on the high side relative to primary raw materials’ and so there is ‘a high probability of a less attractive price environment during the third and fourth quarters’, concludes Joost Van Kleef, chairman of the BIR world recycling organisation’s stainless steel & special alloys committee. – more

     Duterte meets miners in Malacañang – President Rodrigo Duterte lived up to his promise to personally meet with mining companies to impress upon them his requirement that they conduct responsible mining operations. – more

     Uncertainty lingers at Vale in New Caledonia – Unions were briefed by the local Vale head Daryush Khoshneviss upon his return from the company’s headquarters in Brazil. – more

    Mnangagwa in dodgy project – Vice-President Emmerson Mnangagwa is entangled in a multi-million dollar chrome deal involving dodgy South African investors illegally granted permission to import fuel duty-free under the guise they are running a project with national status, investigations by the Zimbabwe Independent have shown. – more

     LME seeks consensus to cut rents for storing metal – The London Metal Exchange is seeking agreement from its network of metal warehouse owners to cut the rents charged for storage, which could boost the amounts of metal registered under LME warrant and improve transparency. – more

     Clive Palmer moves Titanic II treasures to Gold Coast resort – Its not quite shuffling deck chairs on the Titanic, but embattled tycoon Clive Palmer is shifting his treasures – including items from his ill-fated replica of the world’s most famous ship – as liquidators circle his assets. – more

  Morning Nickel Price Statistics & Figures

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

Thursday, August 3

• Three month nickel closed Wednesday’s trading session at $4.69/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 373,100 tonne level. Technical indicators have turned negative this morning, but we aren’t smart enough to know why – just passing on the info. While slightly off at the moment, the Euro continues to climb against the US Dollar, which is adding momentum to base metals trading. This is our last update for the week, and we hope each of you has a safe and enjoyable weekend.
• Average price of cash nickel so far this month – $4.62/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Copper slips as China data and dollar spark profit-taking – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• U.S. commodity funds post biggest outflows of 2017 -ICI – more
• World’s first robotic selective plating station developed – more
• AISI Releases July SIMA Imports Data; Import Market Share 28 percent in July – more
• Stocks Retreat From Record; Euro Cools, Gold Slips: Markets Wrap – more

     Asian battery makers eye nickel top-up as cobalt price bites – Soaring cobalt prices are prompting Asia’s top battery makers to tweak the recipe for lithium-ion batteries used to power electric cars and mobile phones – reducing the amount of cobalt and adding more nickel. – more

     Duterte threatens to impose minerals export ban – Manila President Rodrigo Duterte of the Philippines has said he is considering a ban on mineral exports to promote development of related downstream industries, rattling investors anew. – more

     Glencore’s Production Volumes of Ni, Co & FA in Apr-Jun – On July 27, Glencore plc announced its production volumes in the period from April to June in 2017, of which the Company’s production volumes in the division of ferroalloys (ferro-chrome, vanadium pentoxide, ferro-manganese and silico-manganese), in the division of nickel (nickel, nickel concentrates and ferro-nickel) and in the division of cobalt (including the volume produced from raw materials supplied by the third party) are as shown in the table below. – more

     ‘I’m not going anywhere’: Clive Palmer teases at a comeback as government fights to freeze his assets – Colourful businessman Clive Palmer has said he is “not concerned at all” about moves by Federal Government liquidators to freeze his assets and that he is even “tempted” to think about a return to politics. – more

• Snap freeze order on Palmer luxury assets – more

     Mining microbes could unlock wealth, clean tailings – With luck, ingenuity and some scientific know-how, Sudbury’s tailings ponds could become a new source nickel, copper and zinc. – more

  Morning Nickel Price Statistics & Figures

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

Wednesday, August 2

• Three month nickel closed Tuesday’s trading session at $4.67/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.01/lb higher.  Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just under the 373,400 tonne level. Technical indicators remain bullish, but traders have calmed the rise down so far this week, staying on the positive side, but not with the same degree of enthusiasm as we saw throughout July. Having busted thru the 200 day moving average last Friday, market gains have decelerated. The nickel market got hit with a tri-facto of potential bad news yesterday, all from teh supply side. First, the Philippines announced the open pit ban would stay in place, which will affect nickel ore miners there. Second, Vale continues down talking its nickel division in favor of copper. And Norilsk mined a lot less nickel in the second quarter than they initially planned and said this will adversely affect their annual production.  Eramet announced it cost them $5.17/lb to produce nickel in the first half of the year in their New Caledonia operation, and with the average selling price at $4.34/lb, you can see the problems the miners are having. Even today, miners like Eramet are still losing money.
• Average price of cash nickel so far this month – $4.61/lb
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Aluminium up on expected capacity cuts, but caution warranted – Aluminium prices rose on Wednesday on buying from investors expecting capacity cuts in top producer China, but analysts say supplies may not fall significantly as any cuts could be offset by new capacity. – more

  Reports

• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• Commodity Dip, Euro Gains Hit Stocks; Gold Drops: Markets Wrap – more

     Metals slip as patchy US economic reports spur profit-taking – London metals slipped on Wednesday on profit-taking in much of the complex following several patchy U.S. economic reports, although otherwise solid global growth reports and a weaker dollar underpinned prices. – more

     MEPS Predicts New World Record Stainless Steel Output in 2017 – Global crude stainless steel production is predicted to reach a new record annual total of 48.5 million tonnes, in 2017. – more

     Govt plans strategic disinvestment of Salem Steel Plant – The government is planning strategic disinvestment of the Salem steel plant (SSP) in Tamil Nadu and not total disinvestment, the Lok Sabha was informed today. – more

     Norilsk Nickel pushes for transaction breakthrough with BCL – Norilsk Nickel has been committed to exiting from its African assets – Tati nickel mine in Botswana and Nkomati nickel mine in South Africa – since October 2013. – more

     How to choose the right stainless steel grade? – With over more than 150 stainless steel grades and numerous products to look over, it’s smooth to get stressed. – more

  Morning Nickel Price Statistics & Figures

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

Tuesday, August 1

• Three month nickel closed Monday’s trading session at $4.66/lb . Indicators at 6:30 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell the last three working days and start today just over the 372,900 tonne level. July was a net gain month, with nearly 1500 tonnes added to LME monitored stockpiles. The gain for the year is less – only around 900 tonnes. We add this info to remind our readers that the doom and gloom warnings coming from nickel miners is to be expected, and if we want to see some of these inventory numbers drop, some of the miners are going to have to shut down some mine production. The price of nickel averaged $4.36/lb for all of last year, and is at $4.65/lb today, so last quarter was rough, but if these traded prices hold, then some of these warnings should be silenced. But we are in a bull run, and miners like to sound the alarm during bullish run’s, in an attempt to squeeze every bit of gains they can. Technical signals remain mixed, with a few sell signals popping up, but that may only be because the market is slightly lower this morning. The market punched thru nickel’s 200 day MVA on Thursday and is using it for support today. China’s manufacturing PMI came in lower than expected at 51.4, down from 51.7 in June. Manufacturing appears to be slowing but construction in China is said to be booming again, which, if true, will help support nickel’s bullish turn.
• Average price of cash nickel so far this month – (avg July – $4.30/lb)
• Average price of LME traded nickel in 2017(1st half) – $4.43/lb / 2016 – $4.36/lb / 2015 – $5.37/lb / 2014 – $7.65/lb / 2013 – $6.80/lb /
• (USGS) Metal Prices in the United States Through 2010 – pdf here
• Baltic Dry Index – (current) (chart)
• Dollar trading graph – (chart of dollar index)
• Reuters metals morning – Copper holds near two-year high, China and dollar support – more

  Reports

• Canada Imports of (bop) – Nickel Ores and Concentrates – more
• Reuters Daily Inside Metals – pdf here
• KBC Commodity Report – here
• Angel Metals Fundamental Report – here

  Commodity/Economic Comments

• China Stainless Steel Scrap Market News / Price – more
• Yieh Daily Asian Stainless Steel News – more
• Gerdau Steel Market Update – more
• Alloyed for Lasting Value video – here
• Self Repairing for Lasting Value video – here
• China iron ore, steel soar on environmental inspections, strong demand – more
• NASS PR – For the month of August 2017, North American Stainless will maintain the fuel surcharge of 19% for stainless flat and long products.
• SO – CISA mills’ average daily crude steel output up 0.44% in mid-July
• US Steel market outlook clouded by Section 232 – more
• Stocks Gain as Earnings Roll In; Dollar Steadies: Markets Wrap – more

     Copper in, nickel out – Vale – Brazilian miner Vale SA said on Thursday it would seek out fresh copper mining options and stop expanding nickel production capacity after second-quarter net income plunged on forex losses, rising costs and weaker iron ore prices. – more

• Brazil Miner Vale Grows Weary of Nickel – more

     Eramet plans more nickel cost cuts, to target lower grades – Eramet pledged further cost cuts after its nickel division suffered more losses in the first half of the year and said it would shift strategy by entering the lower-grade nickel pig iron market via a mining project in Indonesia. – more

     Open pit mining ban to stay – Cimatu – The order banning all prospective open-pit mines in the country will still be in effect and will be discussed at the interagency Mining Industry Coordinating Council, Environment Secretary Roy Cimatu said. – more

• DENR says open-pit mining ban to stay – more

     Russia’s Nornickel confirms 2017 output forecast due to strong Q2 – Russia’s Norilsk Nickel (Nornickel), the world’s second-largest nickel and the largest palladium producer, has confirmed its previous 2017 output forecast on Monday after a strong second quarter. – more

     Sudbury’s mine tailings worth billions – There is money to be made – and saved – by finding new, environmentally friendly ways to deal with mine tailings in Sudbury and across Ontario. – more

     Ravensthorpe nickel mine gloom – Doubt continues to linger over First Quantum’s Ravensthorpe nickel mine after the company announced a second quarterly loss for 2017. – more

     Indonesian govt recommends nickel ore export permits for 2 mln T – Indonesia’s energy and mining ministry has recommended that two companies be issued nickel export permits for a combined 2 million tonnes, an official said on Tuesday. – more

     Unprocessed Mineral Export Ban – In his 2017 SONA, Pres. Duterte threatened, among others, to stop the export of unprocessed mining products. This follows the ban on similar products in 2014 by Indonesia. – more

   China’s Jun ferromoly exports dip 10.2% on month with stronger domestic sales – China’s ferromoly exports continued to dip in June, down 10.2% on month to 806 mt, as the domestic price was much higher and thus attractive to sellers, market sources said Monday. – more

     House bill could aid Twin Metals – Congressional action could breathe new life into the Twin Metals Minnesota copper-nickel mining project. – more

     Govt to dispatch team to resolve chrome disputes – Fierce jostling over chrome mining claims has gripped the Midlands province as calls intensify for Government to intervene and restore sanity in the sector. – more

     Vale’s Production Volumes of Mn Ore, FA, Ni and Co in Apr-Jun 2017 – On July 20, Vale S. A., a major resource company in Brazil announced its production volumes of manganese ore, ferroalloys, nickel and cobalt in the period from April to June in 2017. – more

     Courtesy AISI – In the week ending on July 29, 2017, domestic raw steel production was 1,769,000 net tons while the capability utilization rate was 75.9 percent. Production was 1,667,000 net tons in the week ending July 29, 2016 while the capability utilization then was 71.3 percent. The current week production represents a 6.1 percent increase from the same period in the previous year. Production for the week ending July 29, 2017 is down 0.2 percent from the previous week ending July 22, 2017 when production was 1,773,000 net tons and the rate of capability utilization was 76.1 percent. – more

  Morning Nickel Price Statistics & Figures

• Today’s almost official prices here  /  Yesterday’s actual LME official prices here or here
• Shanghai Jinchuan nickel price – available here or here (updated)
• India MCX Nickel Price – more  more
• 100 Years of Stainless Steel Video – online here
• Please let us know if any of these links stop working, stop carrying info, or become available to subscriber’s only. We encourage our readers to use the services of those companies who supply news 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 Monday thru Thursday before 8 am CST – Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note – For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.