ET declared that price of nickel moved up by 16% WoW this week against the previous week due to production cuts and investment purchasing. Nickel futures on London Metal Exchange closed up 16% at USD 12,725 per tonne after making a high of USD 12,844. According to base metals analyst Ms Reena Walia from Angel [...]
Price of nickel, which is used in stainless steel, rose by 16% this week against the previous week due to production cuts and purchasing. Nickel futures on London Metal Exchange closed up 16% at $12,725 per tonne after making a high of $12,844. For full story, click here
Minara Resources Ltd., Australia’s second-largest nickel producer declared that its first-quarter production was little changed and reported that the market remains volatile. For full story, click here
The combination of very poor demand and insufficient production cuts are expected to pull the nickel market into a material surplus of 36kt this year has prompted BMO Capital Markets to slash nickel price forecasts by 20% to $4.60/lb this year and by 21% to $5.50/lb in 2010. BMO Capital Markets Global Commodity Strategist Bart [...]
Sumitomo Metal Mining Co will cut refined nickel production by 23% in April to September 2009 period as compared with a year earlier on dwindling demand from steelmakers. For full story, click here
Norilsk Nickel reported that prices are high enough for it to maintain spending and output, bucking an industry trend that is forecast to result in the largest ever production cuts. For full story, click here
LME nickel prices have currently strengthened a pace to fall and LME nickel stocks as of February 25th 2009 came to 98,600 tonnes, which indicated a power to reach 104,000 tonnes as recorded in May 1995 and corresponded to 8% of the global nickel production. For full story, click here
By Leia Michele Toovey-Exclusive to Nickel Investing News Nickel prices will most likely be flat, at best, in 2009, according to Robin Bhar, metals analyst for Calyon Credit Agricole CIB, London. However, nickel premiums are difficult to gauge in a market characterized by a lack of demand, rising stocks and sinking prices. LME nickel prices [...]
Overview Based on Indicated and Inferred Resources for the Nokomis Deposit, the Nokomis Deposit ranks as one of the largest Polymetallic Resources to be discovered in North America in decades containing a higher than average grade for deposits within the Duluth Complex. The Nokomis Deposit is located in Northeastern Minnesota, southeast of the town of [...]
FNX Mining Company Inc. announces plans to extend the suspension of production at its Levack Mine and to also suspend production of nickel ore from its adjoining McCreedy West Mine, effective immediately. For full story, click here
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