RE:RE:The glut in nickel continuesGreat point- while Sherritt is badly caught up in this, I can only hope that the goverments of Australia (BHP), Switzerland (Glencore), Brazil (Vale) have a case to defend their much larger nickel producers/employees by challenging the govt of China's trade practices- assuming the govt of China is or was involved in a major way with Tsingshan.
Sanguinity wrote: Something to consider in the above: China regards its enterprises are an extension of its political structure. Driving down the price of nickel is the perfect way to get other producers around the globe to shut down, and turn to getting theirs from Chinese sources. Just wittness how they've done that over the past couple of decades already.
This isn't an aberration, its the plan.
To top it off, our beloved Sherritt produced 28,672 tonnes at Moa for the year ended 2023. That's 2.6% of what Tsingshan Group's production was.
Sherritt isn't even a blip on the radar of Tsingshan, and, they've solved turning Nickel 2 into Nickel 1, Sherritt's only reason d'etre. Their quarterly loss doubled from Q3 to Q4 to where it is almost the amount they have left in cash. One quarter left of cash on hand, in the face of competitors, like Tsingshan Group, while their losses doubled quarter to quarter.
What's Q1 dishing up, right now?!