There is no doubt that the Chinese are trying to keep the price of Nickel in check.
Smoothed Nickel/Copper Price Ratio (monthly)
Have a look at the smoothed monthly chart of Nickel/Copper for the last 30 plus years. NPI smashed the profitability of Nickel some 10-15 years ago and the graph has since been adjusted to produce a steady modern day ratio of 1. In recent times N4 has been doing the job of re-establishing that ratio. In the past few months Nickel has developed strong headwinds due to a number of factors. None more than the propaganda spread by Chinese steel and battery producers of how they are going to help produce cheap commodities in Indonesia from Indonesian ore.
Let it be said that, I call Bullshit.
Laterite Nickel ore can not be turned into Battery grade nickel in any cost effective way compared to sulfide nickel ore. Or better said "it can be done, but at a premium".
Indonesian NPI will be no different than Chinese NPI - polluting and crap inferior product compared to the nickel blended equivalent.
When the smoke clears sometime after 22nd January the Nickel rally will recommence.
RED
For Lovers of Nickel
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