Views of Ms. Kaynat Chainwala (Research Analyst - Base Metals, Angel Commodities Broking):
"Nickel prices could see a rebound as ore output is likely to suffer since top producer Philippines is planning to limit the amount of land that miners can develop at any one time to boost environmental rehabilitation. This move in the world's biggest nickel ore supplier will initially target the country's 30 nickel mines, which made up more than half of the country's 50 operating mines as of end-2017.
Earlier this month, Philippines' President Rodrigo Duterte threatened mining companies with open pit mining ban in 2019 if there is not enough reforestation. Besides, the much anxiously awaited Mining Industry Coordinating Council review of 26 mines ordered shut or suspended last year by Former Environment Secretary Gina Lopez has been furtherdelayed to August 2018."