- Indonesia’s shift away from Chinese nickel operations opens opportunities for Canadian companies to fill supply gaps
- Fathom Nickel’s strategic projects in Saskatchewan position it as a key player in North America’s nickel supply
- With nickel prices under pressure short-term, long-term demand for these critical minerals supports Fathom’s promising exploration assets
In August 2024, nickel prices briefly surged due to short covering and favorable U.S. economic data, but this gain was swiftly reversed as LME nickel stocks increased. This volatility highlights the complex dynamics in the nickel supply chain, influenced significantly by major players such as China and Indonesia. Despite short-term fluctuations, the nickel market is under pressure from oversupply, with prices expected to remain low through the year. However, the long-term outlook remains quite promising, driven by increasing demand for critical minerals among the green transition and evolving technologies.
Indonesia, a leading global nickel producer, is strategically adjusting its market position by reducing Chinese ownership in its nickel projects. This move aims to qualify for U.S. tax credits under the Inflation Reduction Act (“IRA”), which seeks to exclude electric vehicles containing critical minerals sourced from…
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