Global nickel short-term outlook August 2022 Report

Commodity Market Report 31 August 2022

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Report summary

Global stainless markets look increasingly bearish for H2 2022, the ongoing decline in Chinese production forcing another downgrade to our forecast. This is contributing toward a large surplus in NPI. The battery segment is doing better but cannot yet process all the nickel intermediates becoming available into nickel sulphate. Meanwhile, nickel prices have fallen back from the highs of Q2 but they are still supported by the tight supply of Class I nickel.

Nickel in stainless
- Asia
- China
- Indonesia
- Europe
- North America
Nickel in non-stainless
- Battery raw materials
Appendix - Data Tables

Tables and charts

This report includes 14 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)
Giants of Chinese stainless steel production: Tsingshan and Baowu by plant capacity
European change in quarterly stainless production, by country
US stainless: melt production falls as imports increase
Battery nickel raw materials feeds by share
Battery nickel raw material feeds by volume