Commodity Market Report

Global nickel short-term outlook January 2020

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Nickel market sentiment is weak and prices are falling. As the expansion in Indonesian NPI continues apace and LME nickel stocks increase again, the potential for cuts in Chinese stainless increases, not least because the coronavirus outbreak is lengthening the Spring Festival holiday break. Prices will pick up in H2 as the impact of the Indonesian nickel ore export ban takes hold but Tsingshan will not get an opportunity to start line #3 in Morowali.

Table of contents

Tables and charts

This report includes 11 images and tables including:

  • Tsingshan's exports of stainless steel tail off through 2019
  • European stainless turnaround in H2 2020
  • Global quarterly refined 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)

What's included

This report contains:

  • Document

    Global_nickel_short-term_outlook_January_2020.pdf

    PDF 2.14 MB

  • Document

    Global_nickel_STO_data_tables_January_2020.xls

    XLS 497.50 KB

  • Document

    Global nickel short-term outlook January 2020

    ZIP 1.20 MB