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Canada Nickel Company Inc V.CNC

Alternate Symbol(s):  CNIKF

Canada Nickel Company Inc. is a Canada-based company, which is engaged in advancing the nickel-sulfide projects to deliver nickel required to feed the electric vehicle and stainless-steel markets. The Company owns flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. The Company also owns 25 additional nickel targets located near the Crawford Project. Its wholly owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron and applied for the trademarks NetZero Nickel NetZero Cobalt and NetZero Iron across several jurisdictions.


TSXV:CNC - Post by User

Post by Cobalton Jul 24, 2023 5:10pm
115 Views
Post# 35554927

A Nickel Glut Is Looming

A Nickel Glut Is Looming

"Supply of nickel deliverable to the London Metal Exchange could jump next year by 35% compared to 2022 levels as new plants for nickel processing in China and Indonesia could cause a glut and crash prices, analysts at Macquarie Group say.

The new plants in Asia would process growing volumes of intermediate nickel products into LME-deliverable nickel metal, the strategists wrote in a note quoted by Bloomberg. The pure nickel metal accounts for only 20% of global production of nickel, the other forms of nickel are intermediate products used in the steel and battery manufacturing industries.

The market for nickel is at a “turning point,” Macquarie’s analysts said.

This year, the physical market has been oversupplied, and prices have slumped to around $20,000 per ton as more supply from Indonesia has hit the market."

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