Eurobench.com

voda 20 april 2018 16:32

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Nickel soars to 3 year top as Russia sanctions fears ignite technical rally

Business Recorder reported that nickel soared to a three-year peak on 14 April as what analysts said were misplaced concerns that the metal would become ensnared in US sanctions on Russian companies caused it to break through key technical levels. Three-month nickel on the London Metal Exchange soared 12 % at one point to a more than three-year high of USD 15,875 a tonne, before closing up 7.5 percent at USD 15,275, its largest daily gain in 6-1/2 years.

Analysts at ING said their sources reported that Chinese traders, nervous about aluminium’s soaring rally in the wake of US sanctions on Russia’s UC Rusal, misread a headline overnight about the London Metal Exchange delisting Nornickel brands.

Russia’s Nornickel is the world’s second largest producer of the metal. The LME said last October that on April 18, 2018, it would delist two brands from Nornickel for delivery against its futures contracts.

Mr Oliver Nugent, commodities strategist at ING said that “It’s a misreading of the headline that the brand is being delisted, that decision was taken six months ago, it’s nothing to do with the sanctions but when you a technical rally these things run free.”

ALUMINIUM
Aluminium ended up 5.5 % at USD 2,537 a tonne, having hit its highest in nearly seven years at USD 2,537.50 after global miner Rio Tinto flagged possible downward adjustments to its 2018 aluminium output following the US sanctions on Rusal.

Concerns over the impact of the April 6 sanctions on Rusal have pushed up aluminium some 25 % so far.

ALUMINA
Prices of alumina, the raw material for making aluminium, have surged after Rio Tinto last week declared force majeure because of the sanctions on Rusal.

SP Angel broker said that “A source at a smelter saying ‘phones have been ringing off the hook with people looking for extra metal. They are looking for any extra tonnes, even just a few hundred.”

Goldman Sachs said in a note prices could spike to USD 2,800-3,000 a tonne but would not stay there. “On a more persistent basis we revise up our 3/6/12-month price forecasts to 2,500/2,300/2,000/t (previously USD 2,200/1,900/1,950/t).”

Source : Business Recorder

ijzervreter 23 april 2018 12:15

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Alumina price is on rising spree, while aluminium inventory edges down: SMM learns
Category
Market
Date
23-Apr-2018
Source
AlCircle.com
Edited By
Debanjali Sengupta
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Along with aluminium price surge on London Metal Exchange (LME) due to US sanctions against Rusal, alumina prices are incessantly moving upward due to tight supplies and rising export margins, Shanghai Metal Market (SMM) learned.

According to Shanghai Metal Market report, the average alumina price on Monday April 23, 2018 has seen a sharp rise to RMB 3118 per tonne, against the average price of RMB 2916 per tonne on April 20 in China’s four major markets, while Australian alumina prices hovered at US$710 per tonne on Thursday, April 19, US$ 225 per tonne higher than the last Friday.

Stijgende prijzen voor Aluminium vandaag, maar waarom stijgt de prijs van het aandeel Aperam niet???

ijzervreter 23 april 2018 15:27

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U.S. Softens Stance on Rusal Sanctions; Aluminum Prices Plunge
By , , and
23 april 2018 14:15 CEST Updated on 23 april 2018 14:38 CEST
The U.S. softened its position on sanctions against Russia’s United Co. Rusal, sparking a plunge in aluminum prices.

The U.S. Treasury said it would provide sanctions relief to Rusal if Oleg Deripaska relinquished control, according to statement on Monday. It also extended the deadline for companies to wind down dealings with the Russian aluminum producer by almost five months.

Aluminum plunged as much as 8.3 percent after the news, the biggest intraday drop since 2005. Rusal produces about 6 percent of the world’s aluminum and operates mines, smelters and refineries across the world from Guinea to Ireland, Russia to Jamaica.

Washington’s softening of its stance follows two weeks of chaos on global metals markets, after the sanctions triggered a surge in aluminum prices to multi-year highs and fears of shutdowns at Rusal plants. A German lobbying group said last week that European plants may be forced to close and carmakers could face supply shortages.

“If it wasn’t previously clear if Rusal will still be sanctioned in case if Deripaska sells out, now we have a clear answer,” Oleg Petropavlovskiy, an analyst at BCS Global Markets, said by phone. “Changing the ownership structure would be a solution.”

In a separate statement, Treasury Secretary Steven Mnuchin said the U.S. is considering a petition from Rusal to remove it from the sanctions list.

‘Hardworking People’
“Rusal has felt the impact of U.S. sanctions because of its entanglement with Oleg Deripaska, but the U.S. government is not targeting the hardworking people who depend on Rusal and its subsidiaries,” he added.

The U.S. statement will add pressure on the aluminum magnate as he seeks a way to save his company without surrendering control. While analysts have suggested that nationalization may be the only solution, Finance Minister Anton Siluanov told reporters Friday that Rusal was not on the list to be nationalized.

The selloff in aluminum after the Treasury announcement spread through other commodity markets on optimism the U.S. isn’t likely to impose further sanctions on Russia’s metals and energy companies.

Palladium plunged by as much as 4.2 percent and nickel as much 5.7 percent. They had both jumped over the last two weeks because of concern that Vladimir Potanin, the billionaire who controls Russia’s biggest miner Norilsk Nickel PJSC, could be targeted.

Oil also dropped, losing as much as much as 1.3 percent to trade at $73.13 in London.

De prijzen van aluminium zijn hard gedaald op dit bericht.

voda 23 april 2018 19:47

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Metal prices go bananas over latest batch of US Sanctions
Metal News - Published on Mon, 23 Apr 2018

Sputnik News reported that the latest US economic sanctions against Russian businessmen have affected not only aluminum prices, but other metals too, reports the Bloomberg agency. Nickel prices have risen to a three-year high, gaining 5.4% on April 19. Aluminum alone has gained 7.1% and since the beginning of the month prices have risen 30%.

The growth in prices for aluminum was justifiable as the market understood the extent to which Rusal had penetrated the aluminum market, explains Bloomberg's expert Mark Keenan head of Asia commodities research at Societe Generale SA. Rusal produces about 6% of the world's aluminum and thus it is one of the biggest suppliers in the world.

However, Deripaska's business or any other sanctioned businessmen's is not directly tied to nickel production. While Mark Keenan suggests that Deripaska's 25% share in Nornickel, one of the biggest nickel producers in Russia, may be behind this, another Bloomberg expert Colin Hamilton believes it was just "misinterpretation" by the market. Keenan supports his idea by pointing to the fact that palladium, which is produced along with nickel, didn't see the same rise.

Bloomberg itself suggests that traders might have speculated that other Russian mining and refining companies could face the same fate as Rusal, being struck down by sanctions.

Rusal is Russia's biggest aluminum producer and one of the world's biggest suppliers of the metal as well as alumina. Its production is traded on the world's most prominent commodities markets. The company owns mines, refineries and smelters not only in Russia, but all over the world, for example in Ireland and Jamaica. Its aluminum is used in the production of all sorts of goods, ranging from cans to Boeing airplanes and Ford cars.

On April 6 the US imposed economic sanctions on 38 Russian businessmen and senior government officials in response to an alleged poisoning attack on the country's former spy Sergei Skripal and his daughter in the UK. Oleg Deripaska's company Rusal has suffered the most from the recent sanctions.

Sergei and Yulia Skripal were poisoned in the British city of Salisbury on March 4. The pair was found on a bench near a shopping mall in critical condition. UK officials, namely Foreign Minister Boris Johnson and Prime Minister Theresa May, have accused Russia of poisoning both with the A-234 nerve agent, allegedly produced in the USSR, although proper investigations of the incident have not been conducted. In a subsequent show of solidarity with the UK, several other western countries expelled Russian diplomats over the purported poisoning.

Russian has denied all the accusations being levelled at the country and demanded access to the investigation materials in accordance with international law, as well as consular access to its citizens. However, those requests have fallen on deaf ears. Moscow later expelled the diplomats from those countries that joined the British punitive measures and ordered the British Council to cease its activities in Russia in response to London's move.

Source : Sputnik News

voda 25 april 2018 17:05

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LME to temporarily move nickel closing prices out of ring

Reuters reported that the London Metal Exchange is planning to temporarily move end of day pricing of the benchmark three month nickel contract from open outcry to its electronic trading platform. Exchange’s chief executive Mr Matt Chamberlain said that the move is likely to happen early next year and last for three months, after which pricing will return to the ring.

Mr Chamberlain said the move was designed to test the practicality of electronic pricing after some LME members asked the exchange to consider closing the ring.

Mr Chamberlain also said the exchange, established in 1877, would remain in London after Britain leaves the European Union next year.

Trading of other nickel contracts and the official ring where settlement prices are set will remain unchanged.

Source : Reuters

voda 27 april 2018 15:32

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Indian stainless steel leads the wave of value addition in the steel industry

Mr Ratan Jindal Chairman of Jindal Stainless wrote in Business Today that “It was a year for steel. In 2017, India crossed the 100 million tonne mark in crude steel production. As for stainless steel, the country secured the second largest producer tag, next only to China. Stainless steel production in the country touched 3.6 million tonne during the year, registering an annual growth rate of 10%.

The consumption of stainless steel in a country is organically linked to its economic development. Going by India's GDP growth rate, and the fact that our per capita consumption of stainless steel is 2 kg as against the world average of 6 kg, it is evident that stainless steel has ample scope for growth. In the age of constant value addition coupled with environment consciousness, stainless steel is the most practical and optimal choice among all materials.

Throughout history, humans have been hungry for improvement. From cars to homes to public utilities, we want everything to be aesthetic and efficient. This ever-rising public aspiration in all spheres of life is the inflection point that the stainless steel industry has been looking forward to. Because stainless steel is a metal that can cater to varied present and future needs.

Unlike other alternatives including carbon steel, cement, plastics, glass, and aluminium composites, stainless steel is non-corrosive and self-repairing by its inherent nature. This validates why there has been a major transformation in the end use profile of stainless steel over the last few decades:

Automotive, Railway & Transport (ART) sector
The high strength-to-weight ratio and resistance to impact and temperature shocks makes stainless steel the most fuel efficient and safe option in the ART sector. While developed nations deploy 19 per cent stainless steel in motor vehicles, developing countries consume it to the tune of 5 per cent. This number is set to increase with the Euro VI norms kicking in by 2020, which can't be implemented without stainless steel exhausts. The Indian Railways, which plans to convert 55,000 normal train coaches to the significantly safer LHB technology, can't do so without using stainless steel coaches.

The Indian ART sector is adding value at each stage, and stainless steel is steadily gaining momentum. Jindal Stainless is already supplying material for bus bodies and fuel tanks. We're fast replacing plastics in this segment. Where plastic fuel tanks withstand temperatures up to 100 degree centigrade, those made of stainless steel can withstand up to 1000 degree centigrade. Besides, plastics are environmentally hazardous.

Architecture, Building & Construction (ABC) sector
Stainless steel ups the value game in this sector by its proven track record in longevity, non-corrosion and hygiene. The National Steel Policy 2017, therefore, emphasises use of stainless steel in public health and seismic and coastal zones.

Successful experiments in cities like Tokyo and Taipei demonstrate how distribution losses of water can reduce from around 40 per cent to 2 per cent, if we replace cement and carbon steel pipelines with stainless steel pipelines. Stainless steel plays a pivotal role in the national imperative of swachh bharat and river rejuvenation. Creating long-lasting and sturdy infrastructure for water conservation, including sewage, waste and effluent treatment plants, necessarily requires high grade stainless steel.

Growing annually at 13%, the ABC sector is teeming with opportunities. Residential and commercial real estate projects, retail spaces, entertainment avenues, hospitality, healthcare and urban infrastructure are extensively using stainless steel. There's no doubting that the foundations of smart cities will be laid in stainless steel products. The special finishes available in stainless steel, one of the latest value-adds gaining market traction in the form of coloured sheets and anti-skid floors, combine utilitarian benefits with pure aesthetic delight.

Process Industries
Maintenance free long life and flawless hygiene characteristics of stainless steel make it an ideal choice for process industries. Food processing, for instance, relies heavily on stainless steel. More and more industries, such as refineries, petrochemical, power, textile, cement, drugs, paper are switching to stainless for these reasons.

Stainless steel is increasingly being consumed to produce clean energy. Desalination, which will pave the way through future water crises, is based on stainless steel. Flue-gas desulfurization, or FGD, a process that removes sulfur dioxide from exhausts, is also impossible without stainless steel. The metal is also gaining ground in nuclear power. Jindal Stainless is one of the two stainless steel suppliers in the world selected to supply 1,100 tons of stainless steel to the prestigious International Thermonuclear Experimental Reactor's Cryostat Project in France.

The possibility of endless diversification
The high impact toughness, crash worthiness, superior weldability, formability, free maintenance, and higher elongation of stainless steel makes it a favourite choice for end users as well as manufacturers. Medical advancement, including surgical instruments, artificial stents, and knee and joint implants, draws heavily from the benefits of stainless steel. Recently, Jindal Stainless developed a special grade of high-nitrogen stainless steel for the defence sector in collaboration with Defence Metallurgical Research Laboratory.”

Source : Business Today

ijzervreter 30 april 2018 09:46

0

Weer een mooie advies verhoging. Kijkt de markt daar niet naar?

voda 7 mei 2018 16:45

0

Stainless steel glut builds in China - Report

Reuters reported that an abundance of stainless steel in China following the ramp up of new production in Indonesia is threatening stainless mills globally and the nickel producers that supply them. Marking a major structural shift, China, which makes and consumes around half of the world’s stainless, became a marginal net importer of hot rolled stainless coil in December for the first time in more than seven years, data from the International Steel Statistics Bureau and from consultants CRU showed.

This is after Chinese-owned stainless giant Tsingshan started production last August at a giant plant in Indonesia that should, by the end of 2018, have an annual capacity of 3 million tonnes.This is equivalent to 6 percent of last year’s global flat stainless capacity, CRU said and there is more to come, with China’s Delong Holdings set to start production at its Indonesian stainless plant in 2019.

CRU analyst Michael Finch said that “If we look at 2021 when we have Delong and Tsingshan fully ramped up, Indonesian capacity will rise to more than 5 million tonnes, that’s just under 10 percent of global capacity.”

He added that Tsingshan, which has a captive power source and produces its own ferrochrome and nickel pig iron - key raw materials for stainless - is an “incredibly low cost producer”.

The plant sells most of its stainless to China, where stocks have risen 80 percent since the end of December, hitting their highest in more than eight years in mid-April, according to CRU. China’s stainless prices have flatlined since mid-January at around 15,500 yuan a tonne.

Source : Reuters

Bijlage:

[verwijderd] 7 mei 2018 19:10

0

Thx voda.

Het is weer "chinees" wat de klok slaat.
Geen europees bedrijf dat de samenwerking aangaat met Indonesia.

Jammer, maar moeten niet klagen als China alles pakt en produceerd en exporteerd.

voda 10 mei 2018 13:12

0

Ukraine Jan to Feb nickel ore import jump

Open 4 Business reported that Ukraine in January to April 2018 increased imports of nickel ore and concentrate in natural terms by 6.6% compared to the same period in 2017, to 458,917 tonnes.

According to customs statistics released by the State Fiscal Service, in monetary terms nickel ore imports increased by 7%, to USD 22.155 million. It said that imports were made from Guatemala (60.81% of supplies in monetary terms), and Indonesia (39.19%).

During the first four months of the year, Ukraine did not export and re-export these products, as well as in January-April 2017.

As reported, Ukraine in 2017 reduced imports of nickel ore and concentrate in natural terms by 4.2% compared to 2016, to 1.314 million tonnes, in monetary terms by 8.3%, to USD 64.172 million. At the same time, all imports were made from Guatemala (100% of supplies).

Source : Open 4 Business

voda 17 mei 2018 19:56

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Explore stainless steel production in Zimbabwe – President

Zimbabwe President Emmerson Mnangagwa has called on the Ministry of Mines and Mining Development to explore the production of stainless steel in the country in order to maximise benefits from the country’s mineral resources. Speaking at the signing of a MOU on ferrochrome production by Sinosteel in Harare, the President said Zimbabwe has the necessary ingredients for stainless steel production and it is high time the mining industry looked at exploring the metal.

Mines and Mining Development Minister Cde Winston Chitando hailed the Sinosteel –Zimbabwe MOU as a major milestone in the revival of ferrochrome production which makes the product competitive on the international market.

The signing of the MOU is a milestone in meeting the vision of the new dispensation towards job creation and growing the economy.

Source : ZBC

Bijlage:

0,0 18 mei 2018 09:23

0

quote:
voda schreef op 17 mei 2018 19:56:
Explore stainless steel production in Zimbabwe – President

Zimbabwe President Emmerson Mnangagwa has called on the Ministry of Mines and Mining Development to explore the production of stainless steel in the country in order to maximise benefits from the country’s mineral resources. Speaking at the signing of a MOU on ferrochrome production by Sinosteel in Harare, the President said Zimbabwe has the necessary ingredients for stainless steel production and it is high time the mining industry looked at exploring the metal.

Mines and Mining Development Minister Cde Winston Chitando hailed the Sinosteel –Zimbabwe MOU as a major milestone in the revival of ferrochrome production which makes the product competitive on the international market.

The signing of the MOU is a milestone in meeting the vision of the new dispensation towards job creation and growing the economy.

Source : ZBC

Gaat nooit gebeuren, gaat nooit succesvol worden. 1 van die 2.

Locatie, beschikbaarheid electriciteit, en de kosten van een dergelijk project in een land als Zimbabwe zijn daar de redenen voor.

voda 22 mei 2018 16:55

0

South Korea launches anti dumping probe into Taiwan stainless steel firms

Focus Taiwan reported that Korea Trade Commission has launched an investigation into exporters of certain steel products from Taiwan and Italy to determine whether they have sold their products in Korea at unfairly low prices. Taiwan's Ministry of Economic Affairs said that the KTC's investigation of stainless steel bar exporters from Taiwan and Italy that opened on May 18 will look for dumping practices during the period of July 1, 2016 to June 30, 2017.

The MOEA said that the determination will be made based on pricing data and South Korean firms' operations from January 1, 2014 through December 31, 2017 and decide whether Korean companies have suffered material injury from the alleged unfair trade practices.

It did not disclose which Taiwanese companies have been named by the KTC as mandatory respondents.

The MOEA said stainless steel bars are used in a wide range of products, such as sophisticated precision equipment, auto parts, machinery, aircraft components, medical equipment and building materials.

Citing data compiled by the Global Trade Atlas, the MOEA said Taiwan sold USD 25.95 million worth of stainless steel bars to South Korea in 2017, which accounted for a 17.97 percent share of Seoul's total imports.

Taiwan was the second largest stainless steel supplier to South Korea, trailing only Japan, which took a 24.32 share of the Korean import market with sales of USD 35.12 million, the data showed.

But Taiwan's sales outpaced those of India, Italy and Germany, which had 17.48 percent, 14.72 percent, and 8.83% shares, respectively, according to the figures.

The MOEA said that if South Korea finds that Taiwanese suppliers were involved in dumping stainless steel bars, they will face punitive tariffs, which would affect their sales and market share in the South Korean market.

The MOEA said it has informed related industrial associations of the investigation launched by the KTC, and urged Taiwanese firms to respond to the commission's questions during its investigation without delay to make their case.

Source : Focus Taiwan

voda 22 mei 2018 17:02

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Nickel market records deficit in January to March 2018 - ILZSG

The Nickel market was in deficit during January to March 2018 with apparent demand exceeding production by 32 kilo tonne. In the whole of 2017 the calculated deficit was 96.0 kilo tonne. Reported stocks held in the LME at the end of March 2018 were 46 kilo tonne lower than at the end of the previous year. Refined production in January to March 2018 totalled 422.7 kilo tonne and demand was 454.7 kilo tonne.

Mine production during January to March was 438.8 kilo tonne, 43 kilo tonne above the comparable 2017 total. Chinese smelter/refinery output increased by 16 kilo tonne compared with 2017 and apparent demand was 29 kilo tonne higher than in the previous year due to reduced imports of ferro nickel from Indonesia.

World apparent demand was 32 kilo tonne higher than the previous year. No allowance is made in the consumption calculation for unreported stock changes

In March 2018, nickel smelter/refinery production was 148.9 kilo tonne and consumption was 156.2 kilo tonne.

Source : Strategic Research Institute

[verwijderd] 23 mei 2018 20:22

0

Source: Reuters.

HELSINKI, May 22 (Reuters) - Finland’s Outokumpu, one of the world’s largest makers of stainless steel, believes the European Commission will come up with safeguard measures next month to protect the industry, its chief executive said.

European steel exports are due to take a hit from President Donald Trump’s move to impose a tariff of 25 percent on U.S. steel imports.

The industry is also worried that the EU will see a surge in imports as steel which would have gone to the U.S. market is diverted to Europe.

“All the steel that has been deflected out of the U.S. is looking for another home. Some of that will come to Europe, and that is our main concern, a big danger,” Outokumpu Chief Executive Roeland Baan said in an interview.

While Outokumpu is set to benefit from the U.S. tariffs — thanks to its operations in the United States and an exemption for Mexico — it has lobbied hard in the EU for safeguard measures.

Baan said he has personally met with Trade Commissioner Cecilia Malmstrom and Vice-president Jyrki Katainen several times.

“We have been very active... We expect that during June the safeguard measures will be announced.”

U.S. tariffs have been postponed on Canada, the EU and Mexico until June 1. Baan said those tariffs looked hard to avoid.

“What I’ve heard up to now is that we’re not very close to have a deal with the U.S.”

==============

Marktkenners en journalisten willen dat wij doemdenken.

De sancties bieden perspectieven.

voda 24 mei 2018 22:03

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Jindal Stainless in talks with Gujarat for use stainless steel for buses

Business Line reported that Jindal Stainless Ltd is said to be in talks with the Gujarat government for supplying stainless steel for the State’s public transport system. The company has made a presentation to the Gujarat government for use of stainless steel to increase fuel efficiency and improve safety. During a visit to Surat recently, Mr Abhyuday Jindal, Managing Director, Jindal Stainless, said that as a part of the smart city initiative, use of stainless steel would prove to be a sustainable solution. He said that “I am confident that Gujarat will be at the forefront in adopting sustainable solutions like stainless steel. We look forward to playing an instrumental role in providing India the perfect resource for building smart cities, and eventually, a Smart India.”

Having high strength-to-weight ratio and good resistance to impact and temperature shocks, stainless steel is seen as an ideal metal for modern transit network.

Karnataka, Andhra Pradesh, Maharashtra, Goa and Haryana have already adopted use of stainless steel in their transport buses with the support of Jindal Stainless.

Source : Business Line

[verwijderd] 25 mei 2018 12:32

0

India & China gaan het worden.

Dan zijn wij al dood, maar mogen onze kinderen genieten en profiteren van een welvaart land (als NL focused op China en India).

voda 25 mei 2018 16:40

0

United Stainless Steel Company working to resume operations at fire hit ChromiumSteel plant in Bahrain

TradeArabia News Service reported that Bahrain-based United Stainless Steel Company (USCO), a leading stainless steel mill, said that it is working closely with authorities to investigate a fire incident at its plant, managed by ChromiumSteel, and is taking all steps to resume operations quickly. Providing an update on the status of its plant following a fire at its premises on May 22, USCO said the company’s stringent health and safety procedures combined with effective action from authorities mitigated any injuries or fatalities on site as a result of the incident.

All employees were immediately evacuated from the premises when the fire broke out at 05.15 am with Bahrain Civil Defence fire fighters arriving directly on the scene at 05.30 am. All relevant utilities were quickly shut down to avoid additional damage onsite or to surrounding areas, limiting the effects of the fire only to the plant and its machinery, it said.

As a precaution, operations at neighbouring Bahrain Steel and SULB were also temporary shut down and all employees evacuated but have since resumed, it added.

Chairman of USCO Sheikh Khaled Salem Al Sabah said: “On behalf of the board and our partners, I would like to express our deep gratitude to the Bahrain Civil Defence force for its rapid response and the effective action taken to ensure the safety of our staff at USCO and those across the Foulath Complex.”

ChromiumSteel entered into a production and sales agreement with USCO in August 2017, whereby the company is responsible to procure the necessary raw materials, manage operations and sell USCO’s products to its customers around the world, it said.

USCO is a wholly owned subsidiary of Foulath, a holding company established in 2008 for investment in the steel industry across the GCC and broader Middle East and North Africa (Mena) region, it stated. –

Source : TradeArabia News Service

voda 25 mei 2018 16:55

0

Why higher nickel prices are here to stay

Economic Times reported that nickel has ruled the non agri commodity space so far in 2018, with gains of 16 % on the LME and 27 % on the MCX almost equivalent to its upside for the whole of 2017. The silvery white metal, mainly used in the production of stainless steel, gained further momentum in 2018, driven by rising Chinese imports.

Nickel ore imports by China more than doubled to 6.6 million tonnes in the first quarter of 2018 over a year ago while refined nickel and alloy imports have surged 14 per cent to 60,000 tonnes during the same period. The sharp jump can be attributed to accelerating imports from Indonesia and stable shipments from the Philippines. In fact, Indonesian imports in March at 1.37 million tonnes were the highest monthly total since the ban was imposed in 2014.

A closer look at the import numbers shows ore supplies from Indonesia have been growing fast enough to replace the Philippines as the top supplier to China. On the other hand, Philippines’ President Rodrigo Duterte has been serious about environmental regulations and has issued warnings and limitations to the mining industry.

The highlight for the year, however, has to be sanctions imposed by the US on Russian President Vladimir Putin’s allies, including Russian oligarchs and companies controlled by them as well as government officials. This turned out to be a blessing in disguise for nickel and pushed LME prices to USD 16,690/t and MCX to INR 1,095.2/kg -- both highest since late 2014 -- on fears that sanctions could extend to the world's second-biggest nickel producer, Norilsk Nickel, after inclusion of aluminum giant Rusal in the forbidden list.

Nickel prices are trading near highs touched in April as a consistent fall in inventories at both LME and Shanghai warehouses has been supporting the metal. LME stocks are hovering near four-year low of 3,05,000 tonnes while those of Shanghai are near a 30-month low of 28,900 tonnes.

Supply woes are reinforced by latest numbers rom the International Nickel Study Group, which showed that global nickel market deficit widened to 15,700 tonnes in March, from a revised deficit of 6,600 tonnes in the previous month. During the first three months of 2018, the deficit widened to 39,100 tonnes from the earlier 27,100 tonnes.

The only major bottleneck is weakening stainless steel prices on oversupply concerns as two-thirds of nickel demand come from stainless mills. Having said that, nickel prices are still expected to continue their positive momentum as news of mothballing capacity at Vale’s New Caledonia mine the world’s fourth-largest nickel producer will buoy the metal alongside falling global stocks and expectations of a widening deficit.

Another positive for nickel is the electric vehicle boom, which took centre-stage and whipped up interest at the recently concluded LME Asia week. Hence, we expect nickel prices to trend higher towards INR 1,060 per kg mark in the near term.

Source : Economic Times

voda 4 juni 2018 20:50

0

Nickel prices need sustained rise to spur supply

Fast Markets reported that Nickel prices must embark on a sustained advance before metal to meet demand for electric vehicle batteries will emerge, according to industry experts. Mr Denis Sharypin, head of market intelligence at Norilsk Nickel, told delegates at Metal Bulletin’s sixth International Nickel Conference on May 31 in Toronto, Canada that “The current nickel price levels aren’t enough to incentivize more nickel supply.”

The London Metal Exchange’s three-month nickel contract has risen substantially this year, though industry experts said it still isn’t high enough to generate additional supply. The contract closed at USD 15,210 per tonne on May 31, a 19.5% increase from USD 12,730 per tonne on January 2, the first trading day of the year.

American Metal Market’s US briquette and 4×4 cathode premiums were assessed on May 29 at 28-35 cents per lb and 35-45 cents per lb, respectively. The premiums have not changed since American Metal Market launched the prices on March 13.

Mr Frank Nikolic, Vale’s manager of market intelligence for base metals, said prices would have to exceed USD 18,000 per tonne “for capital to be devoted to the market.” And how long they stay above that level is another key factor, said Barry Jackson, principal market analysis for nickel, at AngloAmerican Marketing Ltd.

Although much of the nickel market is expecting a massive boost in demand from EVs, “there’s a fair degree of uncertainty over how those demand projections will rise,” Jackson said. Large mining companies need the price to remain above USD 18,000 for about 18 to 24 months to feel “comfortable” enough to invest in a nickel project, he said.

Mr Sharypin added that cobalt prices may also play into when more nickel production might come online. The higher the cobalt price, he said, the more battery producers will be interested in putting additional nickel into batteries to reduce the cobalt content and cut the price.

Metal Bulletin’s benchmark low-grade cobalt price stood at USD 42.25-USD 43.50 per lb in-warehouse on May 30. High-grade cobalt prices were assessed at USD 42.25-USD 43.50 per lb in-warehouse.

Source : Fast Markets

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