Commodity Market Report

Global nickel short-term outlook February 2021

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The upward march of the nickel price continues despite even more NPI coming out of Indonesia. A resurgence in Chinese demand is expected in March, after the February holiday, and currently strong demand from stainless in other countries will likely continue through Q2. With so much NPI now available to Chinese stainless mills, Class 1 nickel use is minimal, scrap ratios are falling, and the need to keep importing FeNi diminishes sharply from next year.

Table of contents

Tables and charts

This report includes 14 images and tables including:

  • European imports of stainless steel flat products - decreasing since Mid-2020
  • China's changing requirement for nickel raw materials in stainless steelmaking
  • Japanese stainless melt output and nickel use - rebound in Q4 2020
  • Japanese stainless shipments recovering in Q4 2020
  • 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)
  • Satellite image of Indonesia Weda Bay Industrial Park (IWIP)
  • 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

This report contains:

  • Document

    Global Nickel Short Term Outlook February 2021

    PDF 6.62 MB