Commodity market report

Global nickel short-term outlook February 2017

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Report summary

On 2 February the Filipino government released a list of nickel mining operations that it recommended for closure. As a result nickel prices increased and by mid February they had recovered all the ground lost in January following Indonesia's relaxation of the ban on ore exports. Although neither of the two new rulings has taken effect yet prices continued to increase reaching US$11 000/t (US$5.0/lb) on 20 February before moderating. However with nickel prices re testing US$11 000/t by the end of the month it appears that the short term risk of Filipino mine closures is currently winning the sentiment battle.

What's included

This report contains

  • Document

    Global nickel STO data tables February 2017.xls

    XLS 417.00 KB

  • Document

    Global nickel short-term outlook February 2017

    PDF 445.62 KB

  • Document

    Global nickel short-term outlook February 2017

    ZIP 581.34 KB

Table of contents

  • Executive summary
  • Supply-demand balances
  • Demand
  • Supply

Tables and charts

This report includes 20 images and tables including:

Images

  • Annual Filipino mine production decreased in 2016
  • Filipino mines recommended for suspension/closure: mine production in 2015 and 2016
  • Supply-demand balances: Image 1
  • LME cash and 3-month spread
  • Japanese stainless steel sales to domestic and export markets
  • Demand: Image 2
  • Supply: Image 3

Tables

  • Executive summary: Table 1
  • Supply-demand balances: Table 1
  • Demand: Table 1
  • Quarterly refined nickel consumption by first use (kt)
  • 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)
  • Global nickel mine production/capability (kt)
  • Supply: Table 2
  • Supply: Table 3
  • Supply: Table 4
  • Supply: Table 5

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