Bloomberg reported nickel prices at about $16,000 a metric ton would make 30 percent of global output of the metal unprofitable.
As quoted in the market news:
At $15,000 a ton, 45 percent of output would be unprofitable, the company’s press service said today by e-mail, citing Yuri Sobolev, sales director.
Nickel for delivery in three months on the London Metal Exchange, a global benchmark, averaged about $15,763 a ton last month. The metal, down 4.7 percent this year, fell 2.2 percent to $17,815 by 4:47 p.m. local time, after rallying to $18,236 yesterday, the highest price in more than four months.