The glut in nickel continueshttps://www.mining.com/web/tsingshans-2023-nickel-output-jumps-to-record-high/
To quote:
"Chinese nickel giant Tsingshan Group’s nickel output rose 27% in 2023 to a record 1.12 million metric tons nickel unit, company data showed.
The higher output contributed to the world’s growing supplies, pressuring prices of the metal used in stainless steel and battery making.
The benchmark nickel contract on the London Metal Exchange fell 45% last year in its biggest decline since 2008. And, prices are expected to fall further amid expectations of a growing supply surplus."