Tag: nickel pig iron oversupply Indonesia
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LME nickel holds steady even as China and Indonesia contribute to global supply glut
China’s real estate slump dampens nickel market Indonesia’s nickel sector pressured by oversupply and quotas Nickel prices on the London Metal Exchange (LME) remained firm, with the three-month contract closing at $15,100/tonne (t) from last week’s $15,161/t. LME nickel stocks remained range-bound at 209,748 t from 211,662 t a week earlier. Stability was supported by…