SHANGHAI, Jul. 7 (SMM) – Following Indonesia’s approval for third company for nickel ore exports, the Philippines announced another piece of negative news to the market.
The Philippines' new environment minister announced to revoke a restriction on issuing environmental permits to projects, including mine exploration and development, Reuters reported.
What’s impact on nickel price after this latest news?
"LME nickel will lose support at the 20 and 40-day moving average in the wake of the news, and may fall below $9,000 per tonne,” SMM nickel analyst foresees.
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