RE:Either a rally, or a dead cat bounce It's not so much Indonesians as it is the Chinese.. the Chinese want low cost feedstock for their manufacturing. Hopefully the Indonesians catch on that if they let the Chinese run the place it will cost them their health/lives, it will cost them their environment, and it will cost them the potential money they could get if they didn't build plants like crazy and let nickel run up a bit.
Surely they realize the only ones benefitting from this over supply are the buyers of the product (Chinese manufacturers).
Here in Alberta we've had a similar problem with oil where for the longest time we had American companies building all this supply to ship to a single buyer (USA) benefitting from our landlocked position and funding their dirty oil campaigns to make our so called dirty oil even cheaper and preventing pipelines from being built to allow tidal water access... It can be a visious problem because short term people enjoy the benefits of all the investment, but long term you give away your product for nothing and get left picking up the clean-up tab at the end.
Same old story, follow the yellow brick road.