RE:RE:RE:L.M.ELike I said before, it's all about SS. As SS markets go so does nickel. China steel output has been falling. The question is will SS follow? Indonesia increasingly in control of SS. That's the one to keep a close eye on. NILSY sure does think so.
>>>Healthy demand from stainless steel mills and electric vehicle battery makers is expected to underpin nickel prices over coming months, but rising supplies from top producer Indonesia are likely to weigh next year.“This year has seen one of the most remarkable turnarounds in nickel consumption, it has been driven by booming conditions in the stainless steel and battery markets,” said Macquarie analyst Jim Lennon. “But the relentless rise in Indonesian production, combined with an expected slowdown in the pace of nickel consumption growth should tip the market into over-supply in 2022/23.”
https://www.reuters.com/article/us-metals-nickel-idUSKBN2EW157
>>>>Chinese steel production plunged in July to a 15-month low, according to Bloomberg calculations, as the industry begins to make good on a pledge to reduce output below last year’s record levels to restrain emissions. The world’s top producer made 86.79 million tonnes of crude steel last month, falling 7.6% from June and 8.4% from 93.36 million tonnes in July 2020, data from the National Bureau of Statistics (NBS) showed on Monday. Average daily output stood at 2.8 million tonnes last month, according to Reuters calculations based on the NBS data, slipping 11% from 3.13 million tonnes per day in June.
https://www.mining.com/iron-ore-prices-stable-while-chinas-steel-output-hit-15-month-low/