VALE - Nickel Miners News For The Month Of March 2024
2024-03-29 07:22:55 ET
Summary
- Nickel spot prices were lower the last month and remain very low causing distress to the nickel miners.
- Nickel market news - Macquarie - Nickel market surplus just 36,000t this year. Nickel prices may soon recover from Indonesia-induced slump.
- Nickel company news - Vale to build another $2B HPAL plant in Indonesia. BHP has stood down around a quarter of the workforce building its $1.7B West Musgrave Nickel Project.
- Horizonte Minerals working on a full funding solution to avoid Project closure or bankruptcy. Sama Resources reports Samapleu-Grata Nickel-Copper Project PEA Post-tax NPV8 of US$257M, Post-tax IRR of 22.3%, Initial CapEx US$338M.
Welcome to the nickel miners news for March.
The past month saw nickel prices move lower. We also had several reports that the Indonesia led oversupply may be less than what was first thought. Despite this the current low nickel price induced casualties continue to climb.
Nickel price news
As of March 29, the nickel spot price was USD 7.40/lb , down from USD 7.74/lb last month. LME shows the price at USD 16,525/tonne . Nickel inventory at the London Metals Exchange [LME] was higher the past month at 77,148 tonnes (69,330 tonnes last month)....
Nickel Miners News For The Month Of March 2024