Nickel at seven-year high
Look beyond market approach to project valuations: van Zyl
Leadership
3 things that help keep capital projects on track
SPONSOREDproudfoot
Azure eyes province potential ahead of Andover resource
SPONSOREDazure minerals
American Pacific building US copper position
SPONSOREDamerican pacific mining
Vale this week cut its 2021 nickel outlook from an estimated 200,000t to 165,000-170,000t, due in part to the earlier strike at Sudbury and the recent suspension of Onca Puma.
Adding to supply constraints, Norilsk Nickel reported lower output in the September quarter and the Philippines said production might be 10% less than the annual average, Bloomberg reported.
Look beyond market approach to project valuations: van Zyl
Leadership
3 things that help keep capital projects on track
SPONSOREDproudfoot
Azure eyes province potential ahead of Andover resource
SPONSOREDazure minerals
American Pacific building US copper position
SPONSOREDamerican pacific mining
Spot nickel rose 4.55% to US$21,046/t on the LME, its highest point since 2014.
Market futures were mixed as concerns swirl around China's Evergrande.
The property developer resumes trading in Hong Kong today, after yesterday telling the exchange "there is no guarantee that the group will be able to meet its financial obligations".
Gold and copper equities had a positive day in Toronto, where Centerra Gold (TSX: CG) gained 2.97% and copper producer Capstone Mining gained 7%.
Nickel miners gained in morning Australian trade, with IGO up more than 2.5%.
Finally, Rio Tinto closed down 3.26% in London after announcing accelerated decarbonisation plans at its Capital Markets day.