Norilsk Not Planning On Helping Talvivaara; Primary Indian Nickel Shifts Up 1.9%

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It looks as though Norilsk Nickel “has no plans to help bail out financially-troubled Finnish nickel miner Talvivaara, a source familiar with the Russian company’s plans said,” reports Reuters.

“Talvivaara said earlier on Thursday it was in talks with stakeholders to secure funds after a series of production disruptions at its Sotkamo mine and a fall in nickel prices put it at risk of bankruptcy.”

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The Indian nickel cash price saw the biggest upwards shift for the day, rising 1.9 percent to close on Wednesday, November 6. After a 0.3 percent increase, the spot price of nickel finished the day on the LME at $14,300 per metric ton. At $14,375, the nickel 3-month price finished the market day on the LME up 0.2 percent per metric ton.

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Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly was unchanged.

The price of Chinese primary nickel fell 0.3 percent. The price of Chinese 316 stainless coil continues to hover for the fifth day in a row. The price of Chinese 304 stainless coil remained essentially flat. The price of Chinese 316 stainless steel scrap held steady. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat.