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 [...]
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 [...]
By Leia Michele Toovey- Exclusive to Nickel Investing News Xstrata, the world’s fourth-largest producer of nickel, has suspended production at its plant in the Dominican Republic. This announcement led to supply concerns. The resultant speculative buying caused nickel futures to surge 1.23 per cent on India’s Multi-Commodity Exchange, the MCX, on Monday. The most-active October contract [...]
By Leia Michele Toovey- Exclusive to Nickel Investing News Nickel futures continued to exhibit a weak trend backed by high inventories and poor demands from stainless steel makers. On India’s MCX, August 2008 contracts were down by 26 per cent to trade at Rs 806 per kg on Monday. The ongoing downside movement is expected [...]
War between Norilsk Nickel and RUSAL is continuing as Mr Vladimir Strzhalkovsky, GD of Norilsk Nickel, refuted charges made by RUSAL CEO via a letter. Mr Vladimir Strzhalkovsky said: On the issues of improving the environment in the regions where the company operates, I deem it necessary that your letter should generate a response in the [...]
By Leia Michele Toovey- Exclusive for Nickel Investing News Last Thursday, nickel rose the most in almost a month in LME trading after Industrial Metallurgical Holding said it may cut production because of this year’s price slump. Industrial Metallurgical shut its two nickel plants for 10 days at the end of July 2008 for maintenance [...]
By Leia Michele Toovey – Exclusive to Nickel Investing News Nickel posted a slight gain this week, with three-month nickel adding $270 to hit $18,320 a tonne. This is a modest rise, as nickel prices have plummeted this year due to weak demand from stainless steel makers. The inching up of prices was possibly promoted by the [...]
Rusal refuted earlier press reports Rusal and Norilsk Nickel are negotiating for a merger. For full news, click here
This week, two executives voluntarily left their posts at Norilsk Nickel. Following a year long stint as Chief Executive Officer of Norilsk Nickel International, Peter Breese has decided to pursue his own interests. Mr. Breese joined the mining group about four years ago under the former owner and major shareholder LionOre International. This was before [...]
By Leia Michele Toovey – Exclusive to Nickel Investing News The biggest news in nickel this week was the battle between Russian mining superpowers Oleg Deripaska, of United Company RuSal, and Vladimir Potanin, of Norilsk Nickel. Potanin is the single largest shareholder in Norilsk with just under 30% stock. RuSal owns 25%, a purchase instigated [...]
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