Speculators Are Abandoning Oil

Friday September 27, 20191. China’s bauxite imports surge- There are concerns that Indonesia might put a ban on bauxite exports, the raw material used for aluminum production, following restrictions on nickel exports. Nickel prices recently spiked. – “While such a development would support bauxite and in turn aluminum prices, it would be less impactful for China than the nickel ban, in our view,” Standard Chartered wrote in a note. – A 2014 ban on exports led China to diversify away from Indonesia. Prior to 2014, Indonesia accounted…