VALE - Nickel Miners News For The Month Of June 2024
2024-06-28 13:32:28 ET
Summary
- Nickel spot prices were significantly lower the last month.
- Nickel market news - S&P Global Market Intelligence forecasts short term nickel surpluses to 2027, then in 2028 a primary nickel deficit.
- Nickel company news - Vale unveils $3.3 billion plan to boost copper and nickel output. Eramet and BASF decide against joint investment in a nickel-cobalt refining complex in Indonesia.
- Premium Nickel Resources drills 52.45 meters of 2.02% NiEq or 3.59% CuEq & 35.60 meters of 2.45% NiEq or 4.35% CuEq at Selebi North Underground. TMC and SGS produce world-first cobalt sulfate from deep-seafloor polymetallic nodules.
Welcome to the nickel miners news for June.
The past month saw nickel prices fall significantly.
Nickel price news
As of June 28, the nickel spot price was USD 7.67/lb , down from USD $9.19/lb last month. LME shows the price at USD $ 16,830/tonne . Nickel inventory at the London Metals Exchange [LME] was higher the past month at 93,864 tonnes (83,634 tonnes last month).
Nickel spot price 5 year chart - Current price = USD $7.67/lb
Nickel demand vs. supply chart
INSG forecasts a third consecutive year of nickel oversupply in 2024 ( source )
Benchmark Mineral Intelligence forecasts deficits for lithium, nickel & cobalt to increase from 2027 onwards ( source ) ...
Nickel Miners News For The Month Of June 2024