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Commodity Market Report

Global nickel short-term outlook February 2023

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28 February 2023

Global nickel short-term outlook February 2023

Report summary

Nickel prices retreat as the world waits for China to recover its stride and ever more matte and MHP become available for the battery stream. LME stocks may still be shrinking but that could soon reverse as less Class I is taken for nickel sulphate and more Chinese companies choose to make metal over sulphate. Stainless markets remain slow and will improve but not by enough to move the Class II market out of oversupply.

Table of contents

Tables and charts

This report includes 11 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)
  • Quarterly European stainless steel production and year-on-year growth
  • China quarterly nickel sulphate supply and demand

What's included

This report contains:

  • Document

    Global Nickel Short Term Outlook February 2023.pdf

    PDF 1.02 MB