Miners adjust operations to cope with low nickel prices

Nickel Investing News reports nickel market price have been falling with the recent global economic downturn.

The price of nickel used in stainless steel has slumped more than 60 per cent from the beginning of this year and some mining companies have been forced to cut back output or delay projects as prices have fallen below the marginal cost of production. Nickel MNI3 closed last week at US$8,850 per tonne on the LME, a five-year low, and down 82 per cent from last year’s high.