Vale Q3 nickel price hits 10-year-high premium over LME benchmark

Vale’s average selling price for nickel during the third quarter of 2018 showed the highest percentage difference over the benchmark price on the London Metal Exchange for the past 10 years, according to the Brazilian miner’s latest earnings report, released on Wednesday October 24.

The company’s average nickel price was around $14,092 per tonne in the July-September quarter.This was 6.23% above the average three-month price on the LME of $13,266 per tonne. Vale was now focusing on added-value products, it said. In an earnings call for the report, Vale, which is the world’s largest nickel producer, said that this was the highest level the company had achieved in more than 10 years. The three-month LME nickel price was $12,210-12,220 per tonne on October 25, down by 1.41% from $12,385-12,400 per tonne the day before. Compared with the end of 2017, when the benchmark was at $12,300-12,305 per tonne, prices were...

Published

Renato Rostás

October 25, 2018

20:55 GMT

São Paulo