Speaking of nickel (Developing Indonesia's Nickel Bounty Becomes An Issue In Its Presidential Race)....
From Bloomberg via Mining.com, January 22:
Nickel futures continued to edge lower on the London Metal Exchange, despite a slew of announcements by companies cutting production in response to a collapse in prices.
The metal used in stainless steel and electric-vehicle batteries is down more than 40% from a year ago amid a growing global glut. The market has been flooded with a wave of new material from top producer Indonesia at a time when demand growth has faded.
The impact on the mining industry has been brutal. On Monday, billionaire Andrew Forrest’s nickel producer Wyloo Metals Pty Ltd. said it’s shutting down mines. BHP Group and First Quantum Minerals Ltd. are also being hit, while a raft of smaller producers have been forced to halt construction or fall into administration.
“The pressures in the global nickel market are becoming increasingly apparent,” said Colin Hamilton, managing director for commodities research at BMO Capital Markets Ltd....
....MORE, including quotes.
Also at Mining.com, January 21: "Australian tycoon Forrest shuts nickel mines after prices crash"
