Matt & Mark discuss the changing dynamics in the nickel market, particularly influenced by the actions of Russia and China. They mention the recent inflation data and the impact of US interest rates on nickel prices. There is a mention of Russian nickel shipments arriving in China and its effect on market conditions. Matt & Mark also highlight the compression of LME prices for NPI and sulfate, along with the normalization of discounts. They emphasize the national security concerns associated with Russia and China's collaboration in the commodities market, underscoring the need to diversify supply chains. Overall, their discussion sheds light on the current state of the nickel market and its geopolitical implications.
