Commodity Market Report
Global nickel short-term outlook December 2022
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Nickel prices defy fundamentals and rally back towards the highs seen in November. As then, the rise is technically driven and is at odds with the large market surplus and weak stainless markets worldwide. The battery story remains compelling, however, and China's relaxation of zero-Covid may have boosted optimism further. But in China, the powerhouse of nickel demand, there would seem to be more than enough nickel to go round for both stainless and batteries.
Table of contents
- Nickel sulphate balance and price
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Nickel in stainless
- Asia
- China
- Indonesia
- India
- South Korea
- Europe
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Nickel in non-stainless
- Battery raw materials
- Appendix - Data Tables
Tables and charts
This report includes the following images and tables:
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Key forecast - nickel sulphateQuarterly global nickel consumption in stainless steel (kt)Quarterly refined nickel consumption by first use (kt)
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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 premiumsGlobal refined nickel supply-demand balance (kt)
- 6 more item(s)...
What's included
This report contains:
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