Commodity market report
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21 Pages

Global nickel short-term outlook July 2017


Global nickel short-term outlook July 2017

Report summary

Nickel prices rally to US$10,000/t (US$4.53/lb) as market sentiment turns more positive. The rally is expected to continue through August.

The source of this month's optimism is a stronger stainless steel segment in China. Q2 production cuts have come to an end, indicative stocks are down to their lowest level since January 2016 and higher stainless prices should boost new orders. Furthermore, the re-entry of Delong and reconfiguration at Desheng could mean that austenitic stainless production will increase substantially in H2/2017. This coincides with the closure of one NPI smelter in Indonesia, signalling that more suspensions are possible. Furthermore, President Duterte has re-ignited the threat to Filipino mines by raising the spectre of curtailing exports in favour of domestic processing.

What's included?

This report includes 2 file(s)

  • Global nickel short-term outlook July 2017 PDF - 445.98 KB 21 Pages, 13 Tables, 5 Figures
  • Global nickel STO data tables July 2017.xls XLS - 416.50 KB

Description

As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth.

This Nickel Short Term Outlook report provides a detailed breakdown of global supply and demand balances in this market, as well as price forecasts.

Mining companies, investment banks and investors can use this report to understand the future direction of the ferrous and base metals market. It will also help you assess the impact of key industry issues and events on market balances and pricing.

From acquisitions to investments, Wood Mackenzie helps you plan, forecast and benchmark in the metals markets. Our proprietary database and analyst expertise combines robust production, consumption and pricing data with detailed analysis to identify market opportunities.

We give you a holistic view of the ferrous and base metals markets so you have the confidence to make strategic decisions.

  • Executive summary
    • Key forecasts
  • Supply-demand balances
    • LME and SHFE nickel stocks, and nickel prices
    • Global nickel quarterly supply-demand balance
  • Demand
    • Quarterly global nickel consumption in stainless steel (kt)
  • Supply
    • Global refined nickel supply-demand balance (kt)

In this report there are 18 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Supply-demand balances
    • Supply-demand balances: Image 1
    • Supply-demand balances: Table 1
    • LME cash and 3-month spread
  • Demand
    • Demand: Table 1
    • Quarterly refined nickel consumption by first use (kt)
    • European stainless steel base prices and alloy surcharge - decreasing in July
    • Brazilian automotive improving - production boosted by greater sales at home and for export
    • Brazilian aerospace - Embraer deliveries and backlog still below recent peaks
    • 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
    • Global nickel mine production/capability (kt)
    • Global nickel smelter production/capability (kt)
    • Global nickel metal production/capability (kt)
    • Supply: Table 4
    • Supply: Table 5
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