There has been market news that a major nickel mine in Indonesia has suffered an accident at work, leading to protest by a large number of employees, which could affect operations. The incident could again lead to a sharp increase in high world prices for nickel.
It became known that a few days ago, an explosion occurred at the Indonesian plant PT Gunbuster Nickel Industry, forcing the plant to undergo repairs and causing protests by thousands of employees. This case attracts the attention of the market.
Market participants stated that the current LME nickel price has peaked at around $30,000/t. Combined with a lack of liquidity, it is vulnerable to market capital sentiment. Following the news of this crash, nickel prices could soar again.
Accident at a nickel plant in Indonesia could lead to a rise in nickel prices again
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