FOCUS: Rejection of Gina Lopez as Philippines’ environmental secretary hits nickel prices

Nickel prices remain under pressure after the Philippines' Commission on Appointments rejected Regina Lopez's appointment as the country’s environmental secretary, increasing the likelihood of a surge in laterite ore exports from the country.

The Commission on Appointments on Wednesday rejected the appointment of Lopez as secretary of the Philippine Department of Environment and Natural Resources (DENR) following three confirmation hearings, according to local media reports.
Philippine president Rodrigo Duterte had reinstated Lopez as secretary of the DENR in March. However, the reappointment was subject to the confirmation of the CA.
Nickel prices fell heavily in response to the news, announced at approximately 7am London time.

The London Metal Exchange three-month nickel price stood at $9,415 per tonne at 7:37am,...

Published

Ellie Wang

May 03, 2017

12:37 GMT

Shanghai