ArcelorMittal to Share Liberian Rail; Primary Indian Nickel Up

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Sharing is caring and ArcelorMittal will have to. The company “will have to share the Liberian rail line it is using to export iron ore with Sable Mining and others miners in Guinea who request access, Liberia’s finance minister Amara Konneh said on Wednesday,” reports Reuters.

“Liberia, which neighbours Guinea, has an existing rail link to the Buchanan port in the Atlantic and offers a far shorter export route from deposits such as the giant Simandou project and Mount Nimba in Guinea, which is vital for mines to be profitable at current prices.”

“‘ArcelorMittal is open to the multi-use of the rail because it is enshrined in the mineral development agreement signed with them. The government of Liberia would like to use its rail as much as possible for economic integration that is going to benefit both sides,’ he told Reuters.”

In metal price news for stainless steel and nickel…

On Wednesday, January 15, the Indian nickel cash price experienced the biggest change, rising 3.1 percent. On the LME, the nickel spot price rose 2.2 percent to $14,280 per metric ton. At $14,345, the nickel 3-month price finished the market day on the LME up 2.2 percent per metric ton.

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Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement. The price of Chinese ferro-moly held steady.

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The price of Chinese primary nickel increased 3.1 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 saw little movement. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat.