Base metals reversed from Monday’s stronger close on LME trading, starting the week’s Asian trading mostly lower this Tuesday after yesterday’s Mid-Autumn break.

Russia exported 20,200 tonnes of nickel during the first seven months of 2014

The base metal prices on the London Metal Exchange (LME) closed higher on Monday, with nickel prices climbing to a three-month high amid concern that ore shipments from the Philippines will drop.

Nickel prices climbed to their highest in seven weeks on Thursday as speculators returned to the market on worries that the Philippines could follow Indonesia in banning unprocessed ore exports.

Norilsk Nickel is the largest nickel and palladium producer in the world. Norilsk Nickel’s net profit tripled in the first half of this year, the company said in its first-half 2014 interim financial results.

Poseidon Nickel Limited Buys Black Swan Nickel from OJSC MMC Norilsk Nickel

Global miner Vale does not have plans to shut its nickel operations in New Caledonia amid social unrest caused by an effluent spill, the company said to a local newspaper.

Gateway Mining (ASX:GML) has commenced a drilling program targeting volcanogenic massive sulphide copper mineralisation and intrusive related nickel-copper mineralisation at its Gidgee Project in Western Australia.