Articles Tagged "fall"

Nickel has seen largest cuts

Production cuts and deferred or cancelled investments are a way for producers to respond to falling prices, Nickel has seen the largest cuts. For full story, click here

Nickel moves up more than 13 %, later trims gains

Nickel moved up more than 13 per cent but trimmed gains as analysts said the upward stroke is not likely to be enough to change the short-term bearish demand outlook. Barclays Capital analyst Gayle Berry, said: We have seen that over the past couple of weeks where the gains from short covering have been really quite substantial and that [...]

Nickel declined 7.3 % to a low of $11,405

Prices of nickel has fallen between 40-55 per cent so far in 2008 on reduced demand. Nickel declined 7.3 % to a low of $US11,405 against previous session’s $US12,300. For full story, click here

Nickel falls 2.1 percent

Among the London Metal Exchange traded metals, nickel dropped 2.1 percent  to $11,705 a ton. For full story, click here

Nickel may fall well into 2009

Price for nickel cathode will be an average $10.50/lb tin 2008, compared with $17.38 in 2007. In 2009, the new consensus average is seen averaging $6/lb. Stephen Williams, MD stainless steel materials, BHP Billiton, said: Niickel surplus could reach 22.7 million tons this year and rise to 47.4 million metric tons next year. For full story, [...]

Low Nickel price halts projects, but outlook bullish

Several projects may be delayed as they have become unprofitable due to reducing prices, but this could cause future supply tightness and push prices up again, feel industry sources. Dale Rogers, managing director of Albidon, said: With nickel down at $4.5 ($9,921/t) or $5 ($11,023/t) per pound some 40 odd percent of the world’s nickel [...]

Kagara & Minara Resources review operations

Falling prices of Nickel have forced two miners in Western Australia to announce review and restructuring of operations, which may include a likely delay or scrapping of new projects. Peter Johnston, chief executive of Minara Resources, said: While we are in a challenging period of a turbulent commodity market, and nickel has certainly been affected, we believe [...]

Nickel prices to decline further although production cuts loom

Fall in the price of the metal from record highs above $50,000 a tonne is set to continue into 2009, as Nickel is likely to decline well below $10,000 as a global economic recession bites. Richard Knights, analyst at Numis Securities. said: At current prices some 50% of the nickel industry is losing money. It is not a sustainable [...]

OZ Minerals’ Avebury nickel mine coming under pressure

The company’s Avebury nickel mine in Tasmania is also coming under pressure from weaker metal prices. The operation posted total cash costs of $10.97 per pound during the quarter compared to the current price of about $4.60 per pound. The company said: Cash costs at Avebury may decline when it reaches full capacity in the next three to six [...]