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Bullboard - Stock Discussion Forum Sherritt International Corp T.S

Alternate Symbol(s):  SHERF

Sherritt International Corporation is a Canada-based company engaged in the mining and refining of nickel and cobalt metals essential for the adoption of electric vehicles through hydrometallurgical processes. The Company is engaged in the production of high purity nickel and cobalt metals from lateritic ore. Its technologies group creates solutions for oil and mining companies around the world... see more

TSX:S - Post Discussion

Sherritt International Corp > Global nickel market surplus to widen in 2024
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Post by Sanguinity on Feb 02, 2024 10:26pm

Global nickel market surplus to widen in 2024

The surplus in the global nickel market is expected to widen to 239,000 metric tons in 2024 from 223,000 tons this year, the International Nickel Study Group (INSG) said on Tuesday, signalling further pressure on the metal.
Prices for nickel on the London Metal Exchange are down 38% so far this year. 

Global demand for nickel is expected to increase to 3.47 million tons in 2024  ... It expects global output to increase to 3.71 million tons in 2024

Ergo, widening surplus for this year.  As if 2023 wasn't hard enough on the nickel market.  Small wonder the big guys are laying off people and mothballing their operations.  They can't compete.

https://www.reuters.com/article/idUSKBN3131HU/
Comment by CommonCents123 on Feb 02, 2024 11:10pm
Yup....nickel winter coming the next 4 years. Binedell will add to it which will be disastrous for sherritt. 
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