Commodity Market Report

Global nickel short-term outlook January 2018

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31 January 2018

Global nickel short-term outlook January 2018

Report summary

Nickel prices rally strongly in January, breaking US$13,000/t to approach US$14,000/t, as market sentiment remains bullish helped by rising premiums, perceived strong demand and supply disruptions. But the downside risk from surging nickel pig iron production remains, as Indonesia grants more ore export permits.

Table of contents

    • Key forecasts
    • LME and SHFE nickel stocks, and nickel prices
    • Global nickel quarterly supply-demand balance
    • Quarterly global nickel consumption in stainless steel (kt)
    • Global nickel mine production/capability (kt)
    • Global nickel metal production/capability (kt)

Tables and charts

This report includes 15 images and tables including:

  • Executive summary: Table 1
  • Supply-demand balances: Image 1
  • Supply-demand balances: Table 1
  • LME cash and 3-month spread
  • 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)
  • Supply: Table 1
  • Supply: Table 2
  • Supply: Table 3
  • Supply: Table 4
  • Global refined nickel supply-demand balance (kt)

What's included

This report contains:

  • Document

    global nickel short-term outlook january 2018.pdf

    PDF 375.76 KB

  • Document

    Global nickel STO data tables January 2018.xls

    XLS 417.00 KB