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.
Table of contents
- Executive summary
-
Demand
- Forecast growth in world nickel consumption
- Average stainless melt shop utilisation for top producers (>90% national output in 2016)
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Supply
- Africa
- Asia
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Supply-demand balances
- Global nickel supply and demand - long-term supply shortfall
Tables and charts
This report includes 14 images and tables including:
- Near-term changes in mine production capability, excluding highly probable projects (kt)
- Near-term changes in refined production capability, excluding highly probable projects (kt)
- Larger near-term year on year deficits now expected
- Demand: Image 1
- Global regional nickel consumption
- Regional nickel consumption (kt)
- 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
What's included
This report contains:
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