Commodity Market Report
Global nickel short-term outlook April 2021
Report summary
Nickel prices stayed rangebound for most of April. Strong post-Covid demand is helping to keep nickel prices buoyant but the mounting surplus just gets bigger due to ever-increasing production of NPI in Indonesia and China. The risk to prices is on the downside. Demand will weaken in H2, assisted by the ongoing shortage of semiconductor chips, which has closed auto plants around the world. Production of domestic appliances may soon be affected too.
Table of contents
- When the chips are down
-
Nickel in stainless
- Asia
- China
- Indonesia
- Japan
- Taiwan
- Europe
- US
-
Nickel in non-stainless
- Batteries
Tables and charts
This report includes 12 images and tables including:
- Stainless steel demand by end use, 2020
- China's use of nickel in stainless, by nickel type: NPI is taking over
- Taiwan's adjusted HR stainless product mix - a proxy for melting: austenitic ratio down since December
- Quarterly global refined nickel consumption (kt)
- Quarterly global stainless steel production (kt raw steel basis)
- Global refined nickel consumption (kt)
- Global stainless steel production (kt raw steel basis)
- 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)
What's included
This report contains:
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