Nickel at 12-Year Low
World Economy

Nickel at 12-Year Low

On a remote island in the Pacific Ocean, mine owners like Glencore Plc and Vale SA are losing money on every ton of nickel they unearth in what amounts to a contest to see who can endure the agony longer, Bloomberg reported. A prolonged surplus of nickel has sent prices plunging to a 12-year low and below the cost of production for more than two-thirds of the world’s mines. Nowhere is the strain more acute than in New Caledonia, a former Napoleonic penal colony 1,000 miles from Australia’s eastern coast that drew billions of dollars in investment when the metal reached a record before the financial crisis.


Short URL : http://goo.gl/L4rc0C
  1. http://goo.gl/RrAcaZ
  • http://goo.gl/dCKU1D
  • http://goo.gl/1QPJVK
  • http://goo.gl/g9ox73
  • http://goo.gl/KyTFol

You can also read ...

If both sides continue with tit-for-tat tariffs, the inflation would lead to further increases in interest rates  and give rise to disturbances in the currency markets.
The trade war between the US and China risks substantially...
Hong Kong’s GDP fell to 3.5% in the second quarter.
The outlook for Hong Kong’s economy is darkening as rising...
Norway to Surpass Sweden
Sweden’s economic prospects have dimmed in recent months and...
Crypto Market Struggles as Bitcoin Dips Below $6,000
Bitcoin touched below $6,000 and dozens of smaller digital...
Many emerging market economies are better prepared now because they have a good international reserve position and they allow their exchange rates  to float more freely.
Italian economist Claudio Borio is considered an authority in...
China Growth Momentum Slows
China’s economy hit a mid-year rough patch as efforts to curb...
Bankruptcy Soars Among Elderly in United States
A growing number of retirees in the US are filing for...
German Economy Beats Forecasts
Unfazed by a mounting number of uncertainties, Europe’s...