Sherritt International Corp T.S

Nickel to be in surplus rest of the decade - bloomberg

[rkhosla]

https://www.mining.com/web/nickel-price-extends-slump-on-indonesian-glut-as-metals-hit-by-fed/

[sloopjohnb]

If the govt of China is the actual true underlying entity that is a major investor/owner of Indonesia's nickel, what is stopping the private western nickel industry and their democratic governments from challenging China at the World Trade Organization for unfair subsidies or anti-competitive trade practices, and if that fails imposing duties/ tarriffs? The US has no problem imposing duties on

[VerificateASAP]

This post has been removed in accordance with Community Policy

[Albatross]

I read in some article they figure nickel is 5-8% oversupplied at the moment. So a 2% decline due to mine closures is still significant, coupled with the potential year on year demand growth. We will not survive another 6 years at these prices. There will need to be another restructuring of debt or a default. 

[rkhosla]

i read that to be only 2% OF THE SURPLUSS (not 2% of world output) so my take is that thus far production cuts have been insufficient / immaterial.  

[Albatross]

"He didn’t expect the closure of non-Indonesian mines to have a significant immediate impact on prices, as those assets represented less than 2% of global capacity so far." That's a direct quote from the article. It says 2% of global capacity. Not 2% of global surplus capacity.