Commodity Market Report

Global nickel short-term outlook April 2023

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A few days of over-active trading sent nickel prices up in the third week of April despite a large global surplus. Equally, the economic rebound in China is taking its time to get going and both stainless and battery segments there are suffering. It's no better in the west. But dig into the detail and it is clear that whatever the excesses of NPI production are in China and Indonesia, Class I metal supply is tight everywhere else.

Table of contents

Tables and charts

This report includes 13 images and tables including:

  • 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)
  • Indonesian stainless slab exports by destination
  • Impact of imports of stainless from Indonesia on Taiwan's stainless melt output
  • Aircraft deliveries
  • Nickel supply and offtake deals

What's included

This report contains:

  • Document

    Global Nickel Short Term Outlook April 2023.pdf

    PDF 1.01 MB