METALS-Shanghai nickel jumps over 4% as Vale cuts output forecast [Reuters]
VALE S.A. American Depositary Shares Each Representing one common share (VALE)
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Source: Reuters
METALS-Shanghai nickel jumps over 4% as Vale cuts output forecast (Recasts, adds quotes, updates prices) By Mai Nguyen SINGAPORE, April 20 (Reuters) - Shanghai nickel prices rose to their highest in nearly six weeks on Monday as major producer Vale trimmed its output forecast of the metal this year, while China’s rate cuts also boosted sentiment. Brazilian miner Vale SA on Friday slashed its 2020 production forecast for nickel to 180,000-195,000 tonnes from 200,000-210,000, excluding its unit in New Caledonia, due to the coronavirus outbreak. The most-traded nickel contract of the Shanghai Futures Exchange (ShFE) climbed as much as 4.2% to 101,800 yuan ($14,387.07) a tonne, its highest since March 11. Benchmark three-month nickel on the London Metal Exchange (LME) rose as much as $12,345 a tonne, a five-week high, before easing to $12,320 a tonne at 0510 GMT, adding 2.3%. Vale’s cut worsened worries over supply shortages after the Philippines, a major nickel producer, shut down some m
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VALE
Earnings
- 7/26/24 - Beat
VALE
Sec Filings
- 12/20/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/11/24 - Form 6-K
- VALE's page on the SEC website