Philippine Metal Production Down by 12% in First Quarter of 2016

Metal production fell 12 percent to P22 billion in the first quarter due to the persistent soft metal prices in the world market, lower than the P25 billion recorded in the same period last year. Direct shipping nickel ore and mixed nickel-cobalt sulfides, which used to account for half of total metal production value, suffered a 38 percent dip from P11 billion to P6.8 billion, as nickel price dropped to $3.85 per pound from $6.52 per pound, while…

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