{"id":451612,"date":"2017-03-08T20:31:19","date_gmt":"2017-03-08T20:31:19","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=451612"},"modified":"2017-03-08T20:31:19","modified_gmt":"2017-03-08T20:31:19","slug":"nickel-price-is-plummeting-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=451612","title":{"rendered":"Nickel price is plummeting"},"content":{"rendered":"

By analyst<\/a><\/span> <\/p>\n

By Frik Els<\/a><\/span> <\/p>\n

Nickel fell to a 13-year low of $7,725 a tonne ($3.50 a pound) in February last year; then rallied to more than $11,700 by mid-November only to end the year barely above $10,000.<\/p>\n

This year the rollercoaster continued as news from top suppliers Indonesia and Philippines pull the metal in different directions. After a 10% rally in February, the price of nickel has been hammered down this week losing 7% since Monday to end Wednesday’s session at $10,200.<\/p>\n

Nickel, mainly used as an anti-corrosive in steel alloys, rallied in 2016 on the back of a clampdown on mines in the Philippines which took over as the main supplier to China following an ore export ban in Indonesia in place since 2014.<\/p>\n

The market was rocked by reports that Indonesia’s partial lifting of the export ban may result in higher volumes of ore hitting the market sooner than previously thought<\/p>\n

The weakness this weak is being blamed on news that the Philippines government may have another look<\/a> at its mining sector environmental review that led to the closure of over half the country’s production capacity.<\/p>\n

The market was also rocked by reports that Indonesia’s partial lifting of the export ban announced in January may result in higher volumes of ore hitting the market; and sooner than previously thought.<\/p>\n

Indonesian miner PT Aneka Tambang said in February it has 5 million tonnes stockpiled<\/a> for immediate shipping and Bloomberg reported Wednesday the state controlled company is ready to load the first cargoes destined for China.<\/p>\n

Metalbulletin quotes<\/a> from a broker note saying that Indonesian miners \u201cwith smelters or those that co-operate with smelter owners will be allowed to ship as much nickel ore and bauxite as the input capacity of the smelters\u201d.<\/p>\n

In another sign that the Indonesian nickel industry is gearing up again comes from Hong Kong-listed China Hanking Holdings which told shareholders on Wednesday<\/a> it will restart a low-grade nickel mine it closed in 2014 to supply domestic smelters.<\/p>\n

The post Nickel price is plummeting<\/a> appeared first on MINING.com<\/a>.<\/p>\n

\u2026read more<\/a> <\/p>\n

Source:: Infomine<\/a><\/p>\n

The post <\/a>Nickel price is plummeting<\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By analyst By Frik Els Nickel fell to a 13-year low of $7,725 a tonne ($3.50 a pound) in February last year; then rallied to more than $11,700 by mid-November only to end the year barely above $10,000. This year the rollercoaster continued as news from top suppliers Indonesia and Philippines pull the metal in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/451612"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=451612"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/451612\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=451612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=451612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=451612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}