Nickel – MetalBulletin reported that Jinchuan Group, China's largest nickel producer, has cut its benchmark nickel price to 102,000 yuan ($16,563) per metric ton following a decline in London Metal Exchange prices.
Nickel – ABC reported that independent analyst Tim Treadgold believes that nickel mines in Australia's Goldfields-Esperence region may have to close if the metal's price does not improve.
Nickel – Shanghai Metals Market reported that after falling to 102,500 to 102,700 renminbi per metric ton (MT) this morning, Jinchuan nickel prices later rose to 102,800 renminbi per MT.
Nickel – MetalMiner reported that the nickel spot price fell 1.3 percent on Tuesday, closing at $14,850 per metric ton (MT) on the London Metal Exchange (LME). Nickel for three-month delivery fell to $14,945 per MT on the LME, a 1.1 percent decline.
Nickel – Shanghai Metals Market reported that after rising to a high of US$15,600 per metric ton (MT), LME nickel closed yesterday at $15,151 per MT, a rise of 322 MT from the previous day.
Nickel – Minnesota Public Radio reported that this weekend an anti-mining group will open a new center in Ely, Minnesota. Its aim is to encourage tourists to urge President Obama to protect the area from copper-nickel mining; those in favor of the process believe it will bring jobs to the area.
Nickel – Shanghai Metals Market reported that after opening at US$14,876, London Metal Exchange nickel prices closed at $14,810 on the back of the Organisation for Economic Co-operation and Development's lowered economic growth expectations for China and the Eurozone.
Nickel – MetalMiner reported that primary three-month nickel prices sank to $15,250 per metric ton (MT) on the London Metal Exchange (LME), while primary cash nickel prices fell to $15,195 per MT, also on the LME.
Nickel – MetalMiner reported that Chinese primary nickel declined 4 percent after increasing by 1 percent the previous week. It has also seen declines on the LME and in India.
Nickel – Reuters reported that Indonesia expects its nickel smelter, which is being constructed in Central Sulawesi, will start operations towards the end of 2014. The Indonesian government announced that it will no longer allow unprocessed mineral exports after January 2014, a rule that has been heavily criticized by miners who believe smelters are not viable for all metal ores that the country exports.
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