Commodity Market Report
Global nickel short-term outlook January 2023
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Nickel prices decreased at the start of January, as Tsingshan began producing pure metal, before rallying later in the month on Chinese hopes. Demand across stainless steel and batteries will improve on the final months of 2022, but the question is by how much? Last year's excess NPI might remain unused until 2024 while Class 1 tightness will ease as more intermediates become available and as Tsingshan adds to its metal-producing portfolio.
Table of contents
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Nickel in stainless
- Asia
- China
- Europe
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Nickel in non-stainless
- Battery raw materials
- Appendix - Data Tables
Tables and charts
This report includes the following images and tables:
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Quarterly global refined nickel consumption (kt)Quarterly global stainless steel production (kt raw steel basis)Global refined nickel consumption (kt)
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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 premiumsGlobal refined nickel supply-demand balance (kt)Stainless steel inventories in China increase sharply in late 2022Quarterly European stainless steel production and year-on-year growthNew Caledonian ore export taxes
What's included
This report contains:
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