Commodity market report
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25 Pages

Global nickel short-term outlook August 2016


Global nickel short-term outlook August 2016

Report summary

On 10 August nickel prices reached a new high for the year of US$10,897/t (US$4.94/lb), although subsequent profit-taking stimulated a retreat to below US$10,000/t (US$4.53/lb) by the end of the month. Developments in the Philippines have not advanced much further after last month's instigation of an environmental audit of the country’s mines. But if, as expected, there are more closures, prices should respond quite quickly. Fallout from the audit combined with the forthcoming monsoon season is likely to deplete Chinese ore stocks further in early 2017, unless NPI output is cut, either of which could trigger a renewed surge in nickel prices next year. How long that lasts will depend on developments in Indonesia, where NPI project advancement is accelerating.

What's included?

This report includes 2 file(s)

  • Global nickel short-term outlook August 2016 PDF - 790.53 KB 25 Pages, 13 Tables, 8 Figures
  • Data Tables Ni STO.xls XLS - 428.50 KB

Description

As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth.

This Nickel Short Term Outlook report provides a detailed breakdown of global supply and demand balances in this market, as well as price forecasts.

Mining companies, investment banks and investors can use this report to understand the future direction of the ferrous and base metals market. It will also help you assess the impact of key industry issues and events on market balances and pricing.

From acquisitions to investments, Wood Mackenzie helps you plan, forecast and benchmark in the metals markets. Our proprietary database and analyst expertise combines robust production, consumption and pricing data with detailed analysis to identify market opportunities.

We give you a holistic view of the ferrous and base metals markets so you have the confidence to make strategic decisions.

  • Executive summary
  • Supply-demand balances
  • Demand
    • Quarterly global nickel consumption in stainless steel (kt)
  • Supply
    • Chinese nickel ore imports from the Philippines is lower in 2016

In this report there are 21 tables or charts, including:

  • Executive summary
    • Key forecasts
  • Supply-demand balances
    • LME and SHFE nickel stocks, and nickel prices
    • Global nickel quarterly supply-demand balance
    • Monthly NPI production and decline in stocks of nickel ore feed
    • LME cash and 3-month spread
  • Demand
    • Demand: Table 1
    • Quarterly refined nickel consumption by first use (kt)
    • China stainless prices improving
    • EU 27 imports of stainless flat products from Taiwan are resurgent in 2016
    • Chinese exports of stainless HRC to Taiwan increasing since mid-2015
    • Demand: Table 3
    • Quarterly global stainless steel production (kt raw steel basis)
    • Global refined nickel consumption (kt)
    • Global stainless steel production (kt raw steel basis)
  • Supply
    • Indonesian FeNi trade into China comprises both FeNi and pig iron
    • Supply: Image 2
    • Global nickel mine production/capability (kt)
    • Global nickel smelter production/capability (kt)
    • Global nickel metal production/capability (kt)
    • Nickel stocks and premiums
    • Global refined nickel supply-demand balance (kt)
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