Global nickel oversupply expected until 2028 | Metals Mine

  • Global nickel oversupply expected until 2028

    From miningmx.com

    The global nickel market faces prolonged oversupply until at least 2027-2028, according to Reuters citing industry analysts at a metals conference in Jakarta this week. Indonesia, controlling 63% of global production, continues driving the supply surge that has halved benchmark prices over three years. Several new Indonesian projects near completion will further increase capacity. “The market is in oversupply, and in Indonesia, several projects in the pipeline will be completed soon, increasing production capacity,” Macquarie analyst Jim Lennon told the Shanghai Metals Market conference. Nickel traded at $15,380 ... (full story)

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