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Ravensthorpe Nickel Plant temporarily ceased work

2 February 2015

«First Quantum», a Canadian company, forced to stop production at the nickel plant «Ravensthorpe» in Australia. The cause was a spill of sulfuric acid leaked from a tank located inside the plant. In connection with the incident that occurred under investigation. At the same time there is no information about when will restart production. Until 2009, the plant «Ravensthorpe» owned corporation BHP Billiton, then it has acquired «First Quantum». Excluding the accident, which occurred in late December, in 2014 the volume of the produced nickel company had to be 38 000 tonnes. However, even a rather long stop of the plant in the long term is unlikely to have a significant impact on the global cost of the metal. Already, there is an overabundance of nickel. The content on the London Stock Exchange warehouses today more than 400 000 tonnes.

Meanwhile, nickel supply leaves much more stability. Accordingly, in 2014 the cost of metal exhibited sharp fluctuations. According to analysts, in 2015 the situation is unlikely to change. However, a certain status quo is quite possible. Mine Stops Koniambo, New Caledonia, will be able to keep the price of nickel. The main factors influencing the price of base metals in the new year, the US Federal Reserve will be interest rates and the growth rate of China's economy. Philippine nickel market experienced a significant recovery thanks to export sales to China. To date, namely the Philippines is the world's leading supplier of nickel. Indonesian ban, designed to increase the economic contribution of the mining sector in the country, the Philippines pushed to the fore. After the ban nickel value reached the top mark 21 200 USD / ton. Then the price fell almost 22% in 2014 to stay at the level of 14 395 USD / ton.

As suggested Natixis Commodity Markets experts, the average price of nickel in 2015 will amount to 19 thousand. USD / ton. This is almost 13% higher than in 2014. This level is only possible if further problems with the supply. In the case of resolution 2016 nickel costs will fall once again to the level of 17 375 USD / ton. Also, Natixis Commodity Markets forecasts the price of copper at the level of 6335 USD / ton, zinc 2,523 USD / ton, aluminum 2071 USD / ton Lead 2145 USD / ton.

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