Nickel Asia, Markventures and Global Ferronickel Holding Inc stocks went down because of the news that Indonesia ease out its ban of on exporting Nickel and other minerals. prior to the ban Indonesia was the main source of China’s nickel supply. Now with the ease of the ban the global price of Nickel went Down. Locally this is bad news for the nickel mining companies the current prices of these companies doesnt include this development to the current price thus the drop. Will it continue to drop? It might given the gravity of the effect but then with the 2 years hiatus does the Philippine Nickel Miners able to secure a market or trading partners . . . I’ll stay away form this stocks because of uncertainties but bottom fishers might be able to risk this play and profit from any sudden reversal if there would be traders who wants to take advantage of this “Bad News” just like what happened with $WEB
the Nickel Companies are getting its fare share of issues from DENR now this.