Commodity Market Report

Global nickel short-term outlook January 2021

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29 January 2021

Global nickel short-term outlook January 2021

Report summary

2021 will be a year of recovery. Strong percentage growth in nickel demand coupled with increasing optimism spurred by the roll out of Covid vaccines and the easing of restrictions, and resurgent fervour over the future of electrification, will keep nickel prices rising. However, despite the market returning to deficit in the second half of this year, renewed oversupply will undermine prices in 2022.

Table of contents

Tables and charts

This report includes 12 images and tables including:

  • European imports of stainless steel flat products - decreasing since Mid-2020
  • Chinese stainless steel melting capacity due in the next few years
  • 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 Tumbagaan Island, Philippines
  • 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 2021

    PDF 3.61 MB