NINGDE, China—The price of nickel, a metal used to make stainless steel for everything from sauce pans to guitar strings, spiked past $50,000 a metric ton in 2007 from less than $10,000 just a few years earlier.
With nickel largely controlled by Western companies, China’s swelling economy was especially vulnerable—until some of its steel producers figured out how to substitute a lower-grade “nickel pig iron,” unlocking a…
View original post here: Innovation, Investment Pop Commodity Bubble
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