Metal producers forced into output shift
“It is potentially the beginning of a wave of closures,” says Nicholas Snowdon, an analyst at Standard Chartered. “But that’s contingent on producers moving away from their strategy of waiting for other producers to cut. Not just with #Nickel but right across base metals.”
Almost 70 per cent of nickel producers are making a loss at current prices. In #Aluminium a third are losing money, and in copper the figure is about 22 per cent, according to Australian investment bank #Macquarie.