Commodity market report

Global nickel long-term outlook Q2 2016

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Report summary

Despite the market moving into its first quarterly deficit since Q2/11 nickel prices have remained around an average of US$3.95/lb (US$8 725/t) since March. Attempts to break higher have been undermined by high metal stocks and an uncertain Chinese economy. However China's stainless market appears to have turned around from a pessimistic one of weak demand to one that is optimistically resurgent and the results of our latest stainless mill survey are consistent with that perceived strength. The incorporation of this more positive outlook has led to an increase in our world nickel demand forecasts with 8% growth now expected in 2016 to 1.99Mt and the total rising to 2.25Mt in 2025.

What's included

This report contains

  • Document

    Nickel Tables LTO Q2 2016.pdf

    PDF 1.31 MB

  • Document

    LTO Slidepack Q2 2016.pdf

    PDF 788.79 KB

  • Document

    Demand main changes nickel LTO Q2 2016.xls

    XLS 126.00 KB

  • Document

    Demand analysis nickel LTO Q2 2016.xls

    XLS 1.47 MB

  • Document

    Supply main changes nickel LTO Q2 2016.xls

    XLS 100.00 KB

  • Document

    Production rankings nickel LTO Q2 2016.xls

    XLS 59.50 KB

  • Document

    Equity Production nickel LTO Q2 2016.xls

    XLS 3.13 MB

  • Document

    Mine analysis nickel LTO Q2 2016.xls

    XLS 610.50 KB

  • Document

    Smelter analysis nickel LTO Q2 2016.xls

    XLS 308.00 KB

  • Document

    Refinery analysis nickel LTO Q2 2016.xls

    XLS 751.50 KB

  • Document

    Market balance and prices nickel LTO Q2 2016.xls

    XLS 340.50 KB

  • Document

    Global nickel long-term outlook Q2 2016

    PDF 717.66 KB

  • Document

    Global nickel long-term outlook Q2 2016

    ZIP 4.18 MB

  • Document

    Executive summary

    PDF 57.73 KB

  • Document

    Demand

    PDF 173.90 KB

  • Document

    Supply

    PDF 454.04 KB

  • Document

    Supply-demand balances

    PDF 101.38 KB

Table of contents

  • Executive summary
    • Forecast growth in world nickel consumption
    • Average stainless melt shop utilisation for top producers (>90% national output in 2016)
    • Africa
    • Asia
    • Global nickel supply and demand - long-term supply shortfall

Tables and charts

This report includes 14 images and tables including:

Images

  • Larger near-term year on year deficits now expected
  • Demand: Image 1
  • Global regional nickel consumption
  • Division of Chinese stainless melt production by company
  • Demand: Image 4
  • Global nickel consumption by first use
  • Global stainless steel product consumption by end use
  • Filipino ore exports to China
  • Mined nickel production capability
  • Refined nickel production capability
  • Supply-demand balances: Image 2

Tables

  • Near-term changes in mine production capability, excluding highly probable projects (kt)
  • Near-term changes in refined production capability, excluding highly probable projects (kt)
  • Regional nickel consumption (kt)

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