New Caledonian nickel producer Prony Resources is facing an “alarming” situation amid a slump in metal prices as it waits for the possibility France will offer monetary support for the territory’s nickel sector, a company spokesperson said.

Monthly output marginally lower.

Iron ore shipments from Western Australia's (WA) Port Hedland rallied in December, although 2023 exports were below 2022 as increased sales to India and Vietnam were offset by reduced deliveries to China and Japan.

UK-Australian mining firm Rio Tinto shipped 331.81mn t of iron ore from Western Australia (WA) in 2023.

There is plenty of capacity at all four ports to raise throughput and cut shipping queues, weather permitting.

But weaker Japanese demand weighed on overall Australian hard coking coal exports.

Silicon prices in Europe have undergone a sustained price rally since early December.

A prolonged slump in nickel prices is stress-testing producers worldwide, raising the prospect of sweeping mine closures that will deepen Indonesia’s dominance of global supply.