BHP Suspends Nickel Mine After Earthquake; Chinese Primary Nickel Down

by on

A small earthquake has disrupted production at BHP Billiton’s Perseverance mine in western Australia. The company will now have to “post lower nickel production in the current quarter,” reports Reuters.

“Workers in the underground mine escaped injury from the magnitude 3.7 earthquake on Oct. 31 by taking refuge in a specially designed chamber, where they had access to water and communications. They were brought safely to the surface later in the day, BHP said.”

“Operations at the mine, located about 500 kms (300 miles) from Perth, have been halted while experts assess the impact on operations, the company said on Wednesday.”

FREE Download: The Monthly MMI® Report – covering the Stainless/Nickel markets.

With a decline of 1.2 percent on Tuesday, November 12, the price of Chinese primary nickel recorded the biggest decline of the day. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat. The price of Chinese 304 stainless coil continues to hover for the fifth day in a row. The price of Chinese 316 stainless coil saw little movement.

For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly held steady.

* Get the complete prices every day on the MetalMiner IndX℠

The cash price of primary Indian nickel saw a 0.7 percent decline. On the LME, the spot price of nickel fell 0.4 percent to $13,805 per metric ton. On the LME, the 3-month price of nickel declined 0.3 percent to $13,875 per metric ton.