Nickel mining stocks decline in Australia as prices of the metal fall

Share price of nickel-focused miners and explorers in Australia declined considerably as the metal’s price tumbled for a straight second day.

London nickel CMNI3 shed off around 8% overnight, its biggest one-day loss since 2016 after hitting a seven-year high last week, as a significant deal by Chinese firm

Tsingshan lessened fears of battery-grade nickel resource scarcities. 

Meanwhile, some of the major stocks - Jervois Mining Ltd (ASX:JRV), with significant nickel and copper exposure, traded down 4.211% at A$0.455 per share, Nickel Mines Limited (ASX:NIC) was trading down 6.514% at A$1.220, IGO Limited (ASX:IGO) also traded down 4.755% at A$6.210 per share at 1:48 PM AEDT. 

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