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Nickel price drops most since 2016 on Tsingshan deal – MINING.COM – MINING.com
The nickel and stainless steel giant will provide 100,000 tonnes of nickel matte to Huayou Cobalt and battery materials maker CNGR Advanced Material.
Three-month nickel on the London Metal Exchange dropped as much as 8.5% to $15,945 a tonne, its biggest intraday loss since December 2016, also on the news that Norilsk Nickel expects to stabilize flooding issues at its Oktyabrsky and Taimyrsky mines next week.
The most-traded June nickel contract on the Shanghai Futures Exchange ended 6% lower at 130,510 yuan ($20,180.61) a tonne, posting its biggest intraday loss since May 2020.
[Click here for an interactive nickel price chart]
Tsingshan Holding…
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