One analyst is now saying ( in the space of 3 months) that there will be a 52000t surplus this year instead of a 50000t deficit.This is a 100k turnaround. Does the world not need Ni anymore?
So far we have had a doubling of warehouse stocks and a halving of the price. Does this mean that another doubling in stocks will cause the halving of the price to US$6lb. This will make most mines unprofitable and once again a slow down of all exploration. BHP won't be too excited either after spending $3 billion on a mine that is now worthless.
What to do?
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