BHP is also having problems managing their nickel business. Expect curtailments and reversal of growth plans.
Unfortunately NIC is unfairly being caught up in all this as it produces 'nickel'. The truth of the matter is that it is one part of the industry that is causing huge vols of nickel units to hit the market. The actual NPI price has been increasing for a month now so that is good news. As Ive mentioned in the past the oversupply will last for a few more years but NIC is going to weather this a lot better than other local and international incumbents.
Once the qtrly is out of the way, I think we will see a base established and it won't go lower from there. Its getting close to a buy again.
NIC - General discussion, page-565
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Last
84.0¢ |
Change
0.010(1.20%) |
Mkt cap ! $3.600B | |||
| Open | High | Low | Value | Volume |
| 84.0¢ | 86.0¢ | 83.0¢ | $5.604M | 6.651M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 175513 | 83.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 85.0¢ | 182273 | 9 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| NIC (ASX) Chart |