Nickel surplus to narrow on China’s demand for steel

China's primary aluminum smelters are producing record amounts of metal and the domestic market surplus is spilling out of the country.

China Union took over the Bong Mines, located around 150 km northeast of the capital Monrovia, with a $2.6 billion investment in 2008.

The Greenland deposit is the largest known REE project in the world.

The red metal has fallen 19% from May’s all-time high of $11,104.50, pressured by bloated inventories and signs that consumption in China is soft.