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Reuters reported base metals are falling quickly and will have an impact on large producers profits soon.
Reuters reported base metals are falling quickly and will have an impact on large producers profits soon.
As quoted in the market news:
Nickel, another metal in surplus, has better near-term prospects of cutbacks in China, where low-grade nickel pig iron (NPI) producers are struggling at current prices.
The cash LME nickel price has tumbled 24 percent to $16,687 per tonne since early February, below the marginal cost of about $17,000.