The International Nickel Study Group has predicted that with stainless steel production in its third successive year of decline, world production of refined primary nickel now is expected to dip 9.3% to 1.26-million metric tons in 2009. For full story, click here
PT International Nickel Indonesia reported that its 2008 net profit declined 69.4 percent to $359.3 million because of the steep fall in nickel prices. For full story, click here
The peso value of minerals produced for the first nine months this year plummeted as nickel prices fell, a report from the Philippines’ Mining and Geosciences Bureau indicated. For full story, click here
London nickel futures declined 6 % as base metals gave up gains earlier and headed for their weakest monthly performance in decades. For full story, click here
A sharp decline in the price of the metal from the highs of above $50,000 a tonne is set to continue into 2009, as the metal may fall well below $10,000 as a global economic recession bites. Richard Knights, an analyst at Numis Securities, said: At current prices some 50 percent of the nickel industry is losing money [...]
Nickel prices slipped over 6 percent on Wednesday to track other base metals lower as fears over the global economic outlook and demand dominated sentiments. For full story, click here
By Leia Michele Toovey- Exclusive to Nickel Investing News Miners across the globe are a worried lot, what with the plunging price of nickel putting pressure on companies to streamline operations. Mines in Australia have been especially hard hit, due to the weakening Australian dollar; down 10 per cent against the US greenback since mid [...]
It is reported that POSCO will cut the SS price by as much as 10%, due to decline in the cost of nickel. For more information, click here For more information on POSCO, click here
MINARA Resources, Australia’s No 2 nickel producer, reported 80 per cent fall in net profit for the half year due to rising costs and declining commodity prices. For full news, click here
As per a market review by Finnish stainless steel producer Outokumpu, global demand growth for stainless steel mill products slowed so much in the second quarter that there now is world oversupply. UK based MEPS was quoted as saying: Stainless steel prices have stabilized and are falling slightly in North America as distributors are delaying purchases [...]
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