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Nickel


theflasherman

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For reference... nickel is US$14,000 a tonne today on LME. A$ is currently 0.7536 on my screen. A$ price is therefore A$18,577 a tonne.

 

There seems to be huge volatility in nickel currently (prices touched US$15,200 a tonne today before fading.) but at least the A$ has come back from highs.

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Today nickel dropped considerably to US$14k a tonne, but is currently rebounded strongly to nearly US$15k a tonne (at 1pm GMT). The volatility seems to be increasing after a few days of smallish price movements (mostly down).

 

I'll update more after the final kerb session on the LME.

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IN REPLY TO A POST BY theflasherman, Wed 28/01/04 11:15pm   [READ POST]

Today nickel dropped considerably to US$14k a tonne, but is currently rebounded strongly to nearly US$15k a tonne (at 1pm GMT). The volatility seems to be increasing after a few days of smallish price movements (mostly down).

I'll update more after the final kerb session on the LME.

I found the Falconbridge union workers web site the other day & have found it most interesting. The address is,,,,,,,,,,

 

http://www.minemill598.com/

 

The falconbridge link gives the specifics of whats going down from the union perspective. Hmm lets see,, they have already started getting trucks into position to stop access to the mine. I feel sorry for these workers it sounds like Falconbridge have been giving them a raw deal for years.

I think they will strike, I think the workers think they will strike, I think Falconbridge think they will strike & don't care. Why would Falconbridge not care? check out this website,,,,,,,,,,,,,,,,,,,,,,

http://www.marfas.com/newsarchive.shtml

this is what they were saying on 9/1/04

 

"So are there any benefits to Falconbridge by allowing a strike to happen? Their mine ran at 20% and smelting operation at 50% during the last strike, according to Falconbridge's 2000 annual report. Would this much production selling at $7-$8/lb offset full production at $5/lb, and keep the company's head above water? Only Falconbridge knows."

 

regards,

Tom.

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Great post tom

 

Nickel firmed to US$14,900 according to a news report, but is US$15,040 on my screen. Call it US$15k. A$ is at 0.7795 (up probably because of weak US Data). A$ Nickel price is therefore $19,243. This looks pretty healthy and good to see support in the market.

 

Of course short term price relies totally on Falconbridge strike outcome.

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IN REPLY TO A POST BY theflasherman, Thu 29/01/04 04:24am   [READ POST]

Great post tom

Nickel firmed to US$14,900 according to a news report, but is US$15,040 on my screen. Call it US$15k. A$ is at 0.7795 (up probably because of weak US Data). A$ Nickel price is therefore $19,243. This looks pretty healthy and good to see support in the market.

Of course short term price relies totally on Falconbridge strike outcome.

Hi Flash

 

I have recently bought into a platinum stock (some at 80c and another parcel at 75c) and was wondering if you have a view on this metal, short or long term.

 

Tex.

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IN REPLY TO A POST BY theflasherman, Thu 29/01/04 10:01am   [READ POST]

Hi tex

sorry but i don't know much about platinum. most miners I think get a bit of paladium as well so both prices are relevant. I think both commodity prices are pretty strong.

ok, cheers http://www.asxboard.com/html/emoticons/wink.gif

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