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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.
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.