China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
The global nickel market surplus shrank to 8,400 tonnes in January from a revised surplus of 14,700 tonnes in the previous month, data from the International Nickel Study Group (INSG) showed on Thursday.
Last year, the roughly 2.4 million tonnes a year global market saw a surplus of 122,800 tonnes compared with a deficit of 32,200 tonnes in 2019, according to the Lisbon-based INSG.
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