Vale demurs on Sudbury strike duration, US nickel premium at peak amid shortage

Sudbury, a Vale SA mine in Canada where workers have been striking since June 1, has had “a very large impact” on the Brazilian miner’s operations, the company’s chief executive officer told analysts on July 29.

“Even if we quickly resolve the strike, we will still have many weeks until we normalize,” CEO Eduardo De Salles Bartolomeo said, without directly answering a question on how long the strike would endure. This came during a discussion following the release of the company’s second-quarter earnings.
The previous period of industrial action at Sudbury lasted a year, from mid-2009 to mid-2010, and some market participants told Fastmarkets this could be drawn out, too.

The nickel briquette premium in the United States has nearly doubled in the eight weeks since industrial action began,...


Orla O'Sullivan

July 30, 2021

16:43 GMT

New York