Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Indonesia is now considering deep cuts to nickel mining quotas as it seeks to boost slumping prices of the metal.
Sumitomo Metal Industries Ltd Japan’s third-biggest steelmaker, said it had no plan to declare force majeure on input deliveries. The company has suspended operations of the two giant blast furnaces at its mainstay Kashima plant in Ibaraki prefecture after the quake and tsunami.
