The nickel market has been disrupted by a surge in supply from Indonesia, leading to potential mine closures and market prices crashing over 40% from the previous year. BHP and other miners are affected. The copper market is also facing challenges with reports of insane cost inflation and production problems, leading to tightness in the market. Hedge funds are increasing copper bets amidst supply shocks, and Fitch Ratings highlights geopolitics and politics as top risks for commodities in 2024.
🔴 FITCH RATINGS: GEOPOLITICS AND POLITICS RE-EMERGE AS TOP RISKS FOR COMMODITIES IN 2024.
"The #nickel market has been thrown into chaos after a flood of new supply from Indonesia—the result of huge Chinese investmt & new technological breakthroughs...Mines across the 🌎 are at risk of closing, others are asking for govt bailouts or going bust" https://t.co/T8jo9E4GWI
Hedge funds ramp up copper bets as supply shocks reverberate - https://t.co/RHT3pMyXuB good read to better understand the tight supply /demand risks. Also copper prices will surge when global PMI’s can rise above 50 and yields on debt fall over next year https://t.co/GulrdpNGPv
Bet you saw this coming. Tightness ahead for the copper market. 2024 looks like a much different scenario for the metal than we all expected. ✍️ @GoldmanSachs on #copper https://t.co/A6tkvriF97
"From Green Hype to Bailouts, the Nickel Industry Has Imploded: Many mines risk closing after flood of Indonesian supply. Market prices have crashed over 40% from previous year" https://t.co/JCrfPcik8D And Indonesian mines are coal-powered & cut rainforests...for the EV mission!
Insane costs inflation from KGHM #Copper. I suspect a lot of this may be from high grading during the pandemic and now having to mine lower grades / more expensive ore blocks. Producer after producer reporting production problems and output downgrades. Buy copper. https://t.co/fyXCJY6tXR
From Green Hype to Bailouts, the Nickel Industry Has Imploded Many mines risk closing after flood of Indonesian supply Market prices have crashed over 40% from previous year https://t.co/6kHTO80BWk
The nickel market has been thrown into chaos after a flood of new supply from Indonesia and things have quickly soured for BHP and other miners https://t.co/vyTRmxJyIT