Miners adjust operations to cope with low nickel prices
Thu, Oct 30, 2008
Nickel Investing News reports nickel market price have been falling with the recent global economic downturn.
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 MNI3 closed last week at US$8,850 per tonne on the LME, a five-year low, and down 82 per cent from last year’s high.
For complete story, click this link. Follow developments in resource mining and exploration for free.Sign on to the Resource Investing Newsletter.
Tags: futures, global economic outlook, industrial, industrial metals, industrial raw materials, investing news, LME, market, minara, mining companies, nickel, nickel investing, nickel prices, nickel production, price of nickel, production, ral, resource, resources, stainless, steel
Leave a Reply