While Indonesia currently accounts for 55% of the global supply of nickel ore, this rate is expected to rise to over 70% by 2028. Combined, Indonesia and China cover 70% of global nickel ore supply and demand
In addition, the constantly increasing demand for nickel ore may lead to oversupply in the long term.
Excess demand from China protected nickel ore from price fluctuations in the market. Despite this, experts predict that the future nickel market will face difficulties due to trade wars and macroeconomic factors.
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