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 per ... (full story)