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SHANGHAI, Dec. 24 (SMM) – In Shanghai, Jinchuan raised ex-works prices by RMB 1,000/mt, to RMB 97,500/mt. SMM #1 nickel prices were between RMB 96,400-97,400/mt, with transactions improving. Traders purchased Russian nickel between RMB 96,200-96,300/mt, with the low-end of the price range for Jinchuan nickel at RMB 97,300/mt.

SMM surveyed 36 market players and found that 42% believe LME nickel prices will maintain upward momentum, moving between USD 14,450-14,750/mt. They believe nickel prices will still have room to rise as Indonesia’s ban on ore exports will take effect.

41% believe LME nickel prices will fluctuate between USD 14,250-14,450/mt. The market will lack solid news this week, when combined with the nearing Christmas holiday and yearend cash flow tightness, a large number of investors will leave the market after profit-taking. But Indonesia’s ban on unprocessed ore exports will lend support to nickel prices.

17% believe LME nickel prices will fall to USD 14,100-14,250/mt. investors are now cautious as LME nickel prices are at relatively high levels, and will exit the market now that prices have little room to rise.

Source: http://www.metal.com/newscontent/56004_smm-nickel-market-daily-review-2013-12-23

NEW YORK & CLEVELAND–Alcoa (NYSE:AA) has signed a multi-year supply agreement with Airbus valued at approximately $110 million for value-add titanium and aluminum aerospace forgings. Alcoa will produce the parts using its recently modernized 50,000-ton press in Cleveland, Ohio. This press uses state-of-the-art controls to meet stringent aerospace specifications and is uniquely capable of producing the world’s largest and most complex titanium, nickel, steel and aluminum forgings.

“Our expertise innovating highly engineered products, long history in aerospace, and the unmatched capabilities of our 50,000-ton press make Alcoa uniquely qualified to produce high-end solutions for the most advanced aircraft,” said Olivier Jarrault, Executive Vice President and Alcoa Group President, Engineered Products and Solutions. “This agreement deepens our long and collaborative relationship with Airbus with whom we will continue working to advance the industry with superior products.”

Read more at: http://www.foundry-planet.com/index.php?id=110&tx_ttnews%5Byear%5D=2013&tx_ttnews%5Bmonth%5D=12&tx_ttnews%5Bday%5D=23&tx_ttnews%5Btt_news%5D=13563&cHash=6e5c86f5c0c91cdb0bbd72a038dbc8fa

Dec 23 (Reuters) – Vale SA, the world’s largest iron ore producer, agreed on Monday not to seek legal compensation for back taxes it is paying to the government on profit from overseas operations between 2003 and 2012.

The Brazilian company will, however, continue to dispute potential liabilities incurred between 1996 and 2002 as well as in 2013, according to a securities filing.

Read more at: http://www.reuters.com/article/2013/12/23/vale-brazil-taxes-idUSL2N0K20AR20131223

JAKARTA – Indonesia’s top tin exporter PT Timah has lifted a force majeure on shipments declared on August 30, an official at the state-owned firm said on Monday, as conditions improved after the government introduced a rule forcing domestic producers to trade on a local exchange.

Timah, which cited customers who had not registered to trade tin on the approved domestic exchange as the reason for the force majeure, expects sales of about 24 500 t/y, and rising to 25 000 t 30 000 t in 2014.

Read more at:

http://www.miningweekly.com/article/indonesias-timah-lifts-force-majeure-on-tin-shipments—official-2013-12-23

SEOUL: POSCO said on Monday it began operation of its first blast furnace in Indonesia, to tap surging demand for steel in the Southeast Asian country, and expected the plant to make a profit by next year.

The blast furnace is expected to yearly produce 1.8 million tonnes of slab and 1.2 million tonnes of steel plate, South Korea’s largest steelmaker said in a statement.

Read more at:

LONDON–Anglo-Swiss multinational commodity trading and mining company Glencore Xstrata PLC (GLEN.LN) said Thursday it has bought the remaining 14.5% interest in Mutanda Mining Sarl held by High Grade Minerals SA for $430 million in cash, taking its stake to 69%.

Read more at: http://www.nasdaq.com/article/glencore-xstrata-buys-further-145-in-mutanda-mining-for-430-million-20131219-00032#ixzz2nvwTqTYo

Dec 19 (Reuters) – Indonesia’s government is looking to find a loophole in next month’s ban on the export of unprocessed metal ore, chief economic minister Hatta Rajasa said on Thursday, aimed at miners that already process domestically.

From January 12, mining companies must process their ore before shipping it overseas, a measure that aims to boost the value of exports from Indonesia, the world’s top exporter of nickel ore, thermal coal and refined tin.

Read more at: http://www.reuters.com/article/2013/12/19/indonesia-mining-ban-idUSL3N0JY26B20131219

Vale SA (VALE), the world’s largest iron-ore exporter, expects next year to sign pellet supply contracts in the U.S. as a shale gas boom provides an opportunity to tap a market that represents less than 1 percent of shipments.

The company, based in Rio de Janeiro, is in talks with investors of two U.S. steel plant projects including Voestalpine AG to supply the processed form of iron-ore, Vale Chief Executive Officer Murilo Ferreira said today. Samarco Mineracao SA, a pellet producer that Vale controls with BHP Billiton Ltd., earlier this year signed a supply accord with Nucor Corp. (NUE), the largest U.S. steelmaker by market value, he said.

Read more at: http://www.bloomberg.com/news/2013-12-18/vale-seeks-two-u-s-pellets-supply-contracts-as-shale-gas-booms.html

Dec 18 (Reuters) – Brazilian miner Vale expects its consortium with Glencore in Sudbury nickel projects to be defined by the first quarter of 2014 and for the venture to operate as a single unit, Chief Executive Officer Murilo Ferreira said on Wednesday.

Read more at: http://www.reuters.com/article/2013/12/18/vale-fertilizer-idUSE5N0EN01M20131218

Nickel prices are likely to be pushed higher in 2014 if Indonesia introduces an export ban on laterite nickel ore, which would tighten supply particularly for China, according to Dan Loughner, the head of Australian nickel producer Western Areas.

“The latest technology of Chinese nickel pig iron, being rotary kiln electric arc furnace (RKEAF), relies solely on Indonesian laterite due to its high grade nickel and low iron content,” he said in a Tuesday interview posted on the Western Areas website and distributed by public relations firm FTI.

Read more at:  http://www.platts.com/latest-news/metals/melbourne/western-areas-sees-indonesian-nickel-ore-export-27744353