Nickel settled down -1.36% at 572.70 amid slowing Chinese demand. Trade is expected to wane ahead of Lunar New Year, which will shut China for a week from Monday.

Axiom Mining (ASX:AVQ) is edging closer to a milestone first shipment of nickel ore form the Isabel project in the Solomon Islands during Q1 2016 as a A$10 million financing facility and long-term offtake deal unfold.

The falling nickel price is heaping pressure on BHP Billiton's Nickel West business, which will increase imports of concentrate to sustain its operations after a string of local mine closures.

The Australian All Ordinaries fell back today on uninspiring overseas leads and more choppy commodity pricing.

After the prices dropped sharply in November last year, the nickel prices remained stable during December, 2015 to Jan, 2016.

Nickel prices is expected to rise sharply last year, but fell to 12-year low in the end of 2015. However, the situation has not been improved in beginning 2016, due to the sluggish market demand

Reuters reported that the nickel price hit its lowest level in 12 years on Tuesday on the back of concerns about high inventories. As of Tuesday, refined nickel inventories on the LME MNISTX-TOTAL were sitting at 437,334 tonnes, having risen 11 percent in the ...

A few days ago, Sudirman, the minister of Energy and Mineral Resources Department in Indonesia, claimed that the government would relax its regulations on concentrate export but maintain the original ore ban.