Nickel crossed the US,10,000 a tonne mark on the LME first time since Nov 2015.
It has been a strong run since the threat of mine closure in the Philippines.
Exports of laterite have fallen 27% to the end of May on a year on year basis,according to Morgan Stanley research.
Threats by the Philippines President,And the environmental minister to shut mines that do not meet environmental standards have raised prospects of more closures,helping lifting the price.
The stuttering Ni price hit a 13 year low in Feb of US 7,600.
This has forced 74000 NI supply out of the market. Stockpiles are also falling heavily adding growing hope that the worst is over. Ni stockpiled in the LME warehouse fell to just 378,114t on Monday down from the long highs of 470,000t. Some of the share price have bolted with Nickel miners.... Western Areas up 22% in week......Independents Group 18%. Mothballed mines could be soon mining in the near future.
This all goes good For AVQ if we could just get this Mine MINING
Hurry up SIG This all goes good for for your GDP.
Bloody hell this took me a long time to write this post![]()
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