Antara Foto/Jojon/via REUTERS Acquire Licensing RightsLONDON, Nov 1 (Reuters) - The bears are out in force on the London Metal Exchange (LME) nickel market.
The global nickel market is entering a period of massive oversupply thanks to an Indonesian production boom.
INSG assessed monthly nickel supply-demand balanceBIG SURPLUSThe big short is a bet on a big surplus.
The global nickel market moved into supply-demand surplus in May last year and has been there ever since, according to the International Nickel Study Group.
The exact timing of that tipping-point is still unknown, which means the big short is still a big bet that the supply chain can close the nickel product gap sooner rather than later.
Persons:
Antara, aren't, it's, It's, Kirsten Donovan
Organizations:
PT Vale Indonesia, REUTERS Acquire, London Metal Exchange, Fund, Investment, Study, EV, Shanghai Futures, GAP Indonesia, Jingmen, New Energy Science, Reuters, Thomson
Locations:
Sorowako, South Sulawesi, Indonesia, Indonesian, London