RE:Ni may flip to surprise deficit - Bloomberg todayTwo thoughts come to mind.
1) China is teetering closer to the edge of a cliff than we all generally realize. It's frightening in a way because a massive decline over there surely means a global recession of the likes we haven't seen for quite some time.
2) All this nickel sourcing from Indonesia alone is a significant risk. So much bound up in one place, which hasn't had the greatest track record of stability. A few false moves and we find a meagre surplus and quickly whipsawing into a significant deficit.
The problem with the above is that it will come after our worldwide nickel (et al) miners have eaten too many losses and shuttered their operations. Restarting isn't something that happens quickly.
Can't believe though that fragile little Sherritt would be the miracle that survives all this in the short to medium term to be there when needed.