Commodity Market Report
Global nickel long-term outlook Q3 2020
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Recession driven by Covid-19 and the rapid ramp up in Indonesian NPI leaves the nickel market with a substantial surplus for most of the next decade. Further expansion in Chinese and Indonesian stainless might help to redress the balance but there is little hope of that happening anywhere else in the world. Accelerating nickel demand in batteries for electric vehicles would also help but currently this does not start to move the nickel dial until after 2025. Producer restraint is unlikely at current prices but some may start to struggle as prices fall and they lose market share to NPI in China.
Table of contents
-
Asia
- China
- Indonesia
- Europe
-
North America
- USA
-
Asia
- Indonesia
-
Latin America
- Colombia
- Brazil
-
Oceania
- New Caledonia
- Australia
Tables and charts
This report includes the following images and tables:
-
Potential future expansion in Chinese stainless melting capacity, by projectNear-term changes in mined production capability, excluding highly probable projects (kt)Global mined nickel production by region
-
Near-term changes in refined production capability, excluding highly probable projects (kt)Global refined nickel production by regionMain changes in refined nickel supply since the prior quarter
What's included
This report contains:
Other reports you may be interested in
Insight
Global economic outlook Q3 2026: approaching a tipping point
The global economy continues to hold firm, but is it approaching a tipping point?
$1,150
Insight
Global oil cost curves and pre-FID breakevens H1 2026
Middle East OPEC remains the key source of low-cost oil supply
$6,000
Insight
Long-term impacts of Russian refinery outages
How could global trade flows change if Russian oil product exports remain low?
$900
