Low-Cost Nickel from Indonesia is Flooding The Market [Yahoo! Finance]
ERAMET SA UNSP/ADR (ERMAY)
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Source: Yahoo! Finance
Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the nickel price. At this point, the Southeast Asian nation has already cornered more than half of the world's supply of this critical metal. Indonesia's ascent as the leading player in the global nickel industry, leveraging Chinese capital and innovation, proved remarkable. In fact, according to this report , the country's dominance comes despite concerted resistance from the European Union via the World Trade Organization. In just over a decade or so, Indonesia managed to completely transform its nickel export business while surging its mine output nine-fold. Together, China and Indonesia now produce about 70% of the world's total nickel supply. Unable to compete with the formidable capital and low operating costs of Indonesian operations, competitor nickel miners in Australia and elsewhere could potentially go out of business. Mining Companies, Experts Warn of Shutdowns
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