Russia’s Nornickel will pay $18 million to pass its 50% stake in Nkomati nickel mine in South Africa to its partner African Rainbow Minerals (ARM), ARM said on Friday, ending years of Nornickel’s attempts to exit Africa.
In its latest report, the World Steel Association said the major steel production companies in the world produced more than 1.5 billion tons of crude steel from January to October 2023
Nickel prices reached their lowest point in over two and a half years on Thursday due to persistent worries about oversupply putting pressure on the market.
The global nickel market had a surplus of 23,900 metric tons in September, up from a surplus of 14,200 tons in the same month of last year, data from the International Nickel Study Group (INSG) showed on Wednesday.