By Leia Michele Toovey- Exclusive to Nickel Investing News This week, the base metals have remained range bound, waiting for cues from OPEC Decision, and the conclusion for the proposed auto bailout. After the Federal Reserve issued yet another rate cut that sent the dollar reeling, the base metals were steady. On India’s Multi Commodities Exchange [...]
Continue reading "Rate cut has minimal influence on nickel"
Wednesday, December 10, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News Nickel futures traded higher on India’s Multicommodity Exchange (MCX) today due to increased buying interest. A favourable response to the stimulus packages that will be put in action by the incoming U.S. administration lifted most of the base metals. On the MCX, Nickel December 2008 contract [...]
Continue reading "Nickel futures on the rise"
Thursday, December 4, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News The sharp retreat in the price of nickel in 2008 as demand from the key stainless steel sector plummeted has forced several producers to curb output or defer projects. So far, in 2008, and extending into 2009, mines in Australia, Canada, Finland, Africa and Asia have [...]
Continue reading "Nickel industry faces delays"
Thursday, November 27, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News The global economic slowdown has impacted the stainless steel market, which has in turn curbed demand for nickel. Now, nickel market participants are struggling to stay afloat. The price of nickel used in stainless steel has slumped more than 60 per cent this year, and many [...]
Continue reading "Nickel miners scale back"
Thursday, November 6, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News The price of nickel has been on a downward spiral since it touched a high of US$51,800 per tonne in May 2007. Currently, the metal has been operating in the US$12,400 range, and further declines are expected. Analysts predict that as the financial crisis spreads, nickel could [...]
Continue reading "Further downside expected for nickel"
Wednesday, October 29, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News The price of nickel used in stainless steel has slumped more than 60 per cent from the beginning of this year and some mining companies have been forced to cut back output or delay projects as prices have fallen below the marginal cost of production. Nickel [...]
Continue reading "Miners adjust operations to cope with low nickel prices"
Monday, October 13, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News On Monday, LME Nickel was on the upside with prices jumping 5.5 per cent. Nickel was just one of the metals that rallied on Monday, after news that there would be coordinated steps taken outside the US to combat a global recession. Nickel for three-month delivery [...]
Continue reading "Nickel takes an upward swing"
Wednesday, October 8, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News Nickel futures were bearish in trading on Wednesday on India’s Multi Commodity Exchange, the MCX. Nickel October contract was trading down 3.08 per cent at Rs 665 a kg as compared to its previous closing of Rs 686.10. While it opened at Rs 687.90 in the [...]
Continue reading "Market flop hindering nickel mine financing"
Monday, September 29, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News Nickel was down US$350 to US$16,650 at India’s Multi Commodity Exchange, MCX, on Monday.The benchmark September nickel MNKU8 was down 1.27 per cent at Rs 774.5. Nickel October contract was trading down 0.38 per cent at Rs 796.50 a kg. It opened at Rs 810.80 as compared [...]
Continue reading "Stainless steel manufacturers using less nickel"
Monday, September 15, 2008
By Leia Michele Toovey- Exclusive to Nickel Investing News Nickel prices tumbled more than 5 per cent on Monday as investors sold-off metals amid financial turmoil after Lehman Brothers filed for bankruptcy. The decline in the U.S. dollar failed to compensate for the Lehman instigated sell-off flurry. Analysts, however, are urging investors to sit tight [...]
Continue reading "US dollar drop fails to lift nickel in light of Lehman bankruptcy"
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Wednesday, December 17, 2008