Share price of First Nickel Inc. fell more than a third on Monday after the company suspended production and initiating a care and maintenance program at its Lockerby mine. William Anderson, president and CEO of First Nickel. said: Regrettably, the prevailing nickel prices are below Lockerby’s cash costs per pound of payable nickel even though the [...]
Deutsche Bank said that the gold to nickel price ratio, a key indicator of economic performance, could fall into single digits if the recession is as deep as that of the early 1980s. For full story, click here
Reuters/Jefferies CRB Commodity Index had the worst month in 28 years due to steep decline in gas and nickel prices. For full story, click here
Along with other base metals, Nickel has also fallen 6% due to profit booking by investors. Bart Melek, global commodity strategist for BMO Nesbitt Burns Inc., was quoted as saying: Zinc and nickel prices have already fallen below their marginal cost of production, which offers “the possibility of a rebound once sentiment improves. For full news, [...]
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