Commodity Market Report
Global nickel long-term outlook Q3 2020
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*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
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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 project
- Near-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 region
- Main changes in refined nickel supply since the prior quarter
What's included
This report contains:
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