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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (38101)	6/3/2009 9:06:43 PM
From: LoneClone	Read Replies (1) of 192834

Asia top nickel producer Jinchuan raises nickel price to 115,000 yuan/t from 110,000 (www.chinamining.org) Updated: 2009-06-03 08:46 chinamining.org Asia top nickel producer Jinchuan Group again raised its nickel ex-factory price by 5,000 yuan/ton to 115,000 yuan/ton Tuesday, the third time for its price hike since May 27. The company earlier lifted its nickel ex-factory price by 5,000 yuan/ton to 106,000 yuan/ton on May 27 and further raised the price by 4,000 yuan/ton to 110,000 yuan/ton on May 31. The recent stabilization of nickel stock level in London Metal Exchange and about one-fifth mine production cut this year provide the back for Jinchuan's price increase. Spot nickel prices on the Shanghai Nonferrous Metals Market rose around 15 percent from 101,280 yuan/ton to 116,280 yuan/ton last week.

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