Commodity Market Report

Global nickel short-term outlook April 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

The ongoing downgrade to our demand outlook, to reflect the global recession we believe is now unavoidable, leaves the nickel market with a substantial cumulative surplus for the 2020-2022 period. Even assuming China recovers quickly and that there is no second wave there, the outlook for the next couple of years is a bleak one of sustained low prices. The projected oversupply could be partly redressed by more widespread production cuts but prices are not currently low enough to force that. But lower nickel prices are coming.

Table of contents

    • China
    • India
    • Indonesia
    • Japan
    • South Korea
    • Taiwan
  • Europe
    • USA
  • Nickel in non-ferrous alloys

Tables and charts

This report includes the following images and tables:

  • Changes in quarterly stainless steel production in Europe
  • Potential decline in commercial aircraft deliveries in 2020
  • Global quarterly refined consumption (kt)
  • Quarterly global stainless steel production (kt raw steel basis)
  • Global refined nickel consumption (kt)
  • Global stainless steel production (kt raw steel basis)
  • Filipino nickel ore exports so far in 2020
  • Global nickel mine production/capability (kt)
  • Global nickel smelter production/capability (kt)
  • Global finished nickel production/capability (kt)
  • Nickel stocks and premiums
  • Global refined nickel supply-demand balance (kt)
  • 1 more item(s)...

What's included

This report contains:

  • Document

    Global_nickel_short-term_outlook_April_2020.pdf

    PDF 2.22 MB