Commodity Market Report

Global nickel short-term outlook December 2019

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19 December 2019

Global nickel short-term outlook December 2019

Report summary

Demand for nickel in stainless remains weak everywhere, notably in Europe, where second half stainless output is 12 % lower then in 2018. Stainless production rates in China are still strong but apparent oversupply highlights the continued risk of cuts, perhaps in Q1 2020. In Indonesia, further expansion from 2 Mtpa to 3 Mtpa at Tsingshan Morowali looks unlikely. The battery segment is also at a lower ebb than in H1, primarily due to softer demand in China following the change in subsidies announced midyear.

Table of contents

  • Asia
  • Europe
  • North America
  • Nickel in Non-stainless

Tables and charts

This report includes 11 images and tables including:

  • European year-on-year quarterly stainless melt production
  • 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)
  • Nickel pig iron production lines at IMIP, Morowali, Indonesia
  • 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

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