Another bonus to Oz Ni producers.
But its protectionism and counter free market capitalism.
the irony that chinese communists want free market and the yanks want state subsidised control to break the chinese market control.
The plan is doomed to fail as with all "bidenomics".
The only way to break the chinese EV & Nickel control is to boost LME NP to levels like LiP when western producers can make good coin and invest in production indpt from the eastern block.
Collapsing and shorting the LME NP plays right into the CCPs hands and they have been shorting it for a decade plus which has allowed them to keep prices for themselves low and dominate the offtake market.
NP needs to go to 15-25 again to give western production a chance otherwise they will forever be beholden to the eastern block for steel Ni & EVs as Musk has discovered.
NICKEL NEWS, page-1261
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