LME Nickel Stocks








For Glencore, the nickel weather also comes from the sky
Bad weather for Glencore. In the first quarter of 2019, particularly cold weather in Canada led to a decline in nickel mining and metallurgical production. Other reasons have had the same effect in New Caledonia.

Industrial nickel complex in the Far North © Alain Jeannin
© ALAIN JEANNIN Nickel industrial complex in the Far North
By Alain Jeannin
Posted on 04/05/2019 at 01:28
The weather of the financial markets is also not good. Concerns about global growth are back. The London metals market is therefore hoping for a positive outcome in the trade talks between China and the United States, which are resuming next week in Washington.

In the meantime, the downward trend in nickel prices has shown investors’ disinterest in the commodities market. Prices fell because of disappointing industrial production indices in China in April when nickel supply was higher. “The risks on the growth accumulate in the short term”, warned the analysts of Capital Economics questioned by AFP.

A Japanese metal producer (SMM) has wreaked havoc on the metals market, saying that "China’s nickel output would run a surplus of 23,800 tons this year, because of the increased capacity of nickel smelters (…) to new units need to be added in Indonesia. " This estimate, noted in an analysis note by Marex Spectron, London’s leading metal trader, contributed to the decline in nickel prices, as did the announcement by Australian producer First Quantum Minerals to revive the company’s production in 2020. Ravensthorpe mine “if nickel prices and market conditions improved.” Finally, nickel and other industrial metals were handicapped by the dollar’s strength. The greenback makes nickel more expensive for buyers using other currencies.

Koniambo nickel
Mining companies were among the losers of the week. And notably Glencore, which published its production results, in the first quarter of 2019. They record a 10% decline in nickel production. Glencore evokes bad weather conditions in Canada and maintenance operations in New Caledonia. The Koniambo plant delivered 5,000 tons of nickel (T1) against 6,600 tons in the first quarter of 2018. The decline is 24% “reflecting a social movement in January and various unplanned maintenance operations during the quarter.” As a result, the world’s leading commodities trader has lowered its expectations for annual nickel production, among other things.

Good news anyway? Mandated nickel stocks on the London Metals Exchange fell to 104,000 tonnes, the lowest level since 2012. On the LME, the nickel tonne for delivery in three months traded at 13,323 dollars ( $ 6.04 / lb) Friday at 15:30 GMT up 1.40%. On the week, the metal is down 0.80%.




I did not see this value, is it true?



I love this :slight_smile:



Is this what you are referring to?

TDT :sunglasses:


Yes TDT,

It does not looks like they write, when thay say "On the LME, the nickel tonne for delivery in three months traded at 13,323 dollars ( $ 6.04 / lb) Friday at 15:30 GMT"



I’ve noticed third party web sites frequently mis-report LME data. The web site, for example, incorreclty reported nickel stock on the 30th. April falling by 336 tonnes when the actual drop was 366 tonnes. Always best to double check.

TDT :sunglasses:






This is classic Trump.

“The Tariffs paid to the USA have had little impact on product cost, mostly borne by China.”

25% tarriffs are essentially a tax on the end user and, in this instance, that’s the American consumer. The suggestion that Chinese companies are carrying the cost is laughable.

TDT :sunglasses:


That article was by Noé van Hulst
Hydrogen Envoy for the Ministry of Economic Affairs & Climate Policy, The Netherlands. Shell is, by a long country mile, Holland’s largest company and any move to adopt hydrogen would massively benefit them.

Is it any surprise then that the Dutch government backs hydrogen?

TDT :sunglasses: