those attending the LME Week meetings this week have, and will hear facts and figures that have to do with nothing but the market fundamentals. So far this month we have had four days where outflows exceeded inflows, with the other 6 working days showing a growth in the numbers. (MFG) The president of Anshan Iron and Steel, one of Chinas major largest steel companies expects the countrys steel consumption to level off towards the end of next year, marking the end of 10 years of dramatic increases. About 60,000 tons of the new nickel supply will come from Canada, Crumb said, with another 87,000 tons from new projects or expansions. Trading in derivatives has gained momentum because of their inherit product structure like trading on margin, trading in specified lot sizes, ability to hold the contract till 3 months, ability to short sell on positional basis. (Yieh) According to the statistics from the International Stainless Steel Forum (issf the global stainless steel output raised from.62 million tons.02 million tons.
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So far the BDI has backtracked a total of 40 points in the last 4 days, after seeing a gain of 74 points over the three days prior. (read Ed Meir's complete morning base metals report here ) (Dow Jones) The nickel market is not as tight as many market participants assume, as production is rising from new and existing operations, says Commerzbank. Let's hope that spreads like wild fire! Nickel is at 23,420, down 130, and sitting out the metals rally for a second day in a row. more Zimbabwe: Niger Uranium Eyes Nickel Exploration - AIM listed mining giant, Niger Uranium has joined the current scramble to exploit Zimbabwe's largely untapped nickel reserves after announcing that it would be investing US3,6 billion in nickel exploration in Zimbabwe and South Africa. ( chart ) Dollar graph in lower right corner of this page - ( chart of dollar index ) ( live java chart ) Headlines leaders - (Bloomberg) China Trade Surplus Poised to Cap Biggest Quarter Since Crisis / Chinese Yuan Weakens the Most. Gold is up nearly a full percent and silver is.15. Exports of Steel Mill Products All Stainless Products - more Commodity/Economic Comments Edward Meir of MF Global Morning Comments - LME musings: Last weeks LME dinner was once again a very memorable affair, with the week starting off with a series of presentations at the.