Commodity Market Report

Global nickel short-term outlook July 2020

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Indonesia is pushing the global nickel market into oversupply. After further assessment of the latest NPI developments we have added more than 120 ktpa to the already large surpluses we reported last month for 2021 and 2022. Normally this would suppress prices and yet nickel rallied further in July, buoyed up by the rebound in China and ongoing easing of lock down elsewhere. But how long can this optimism last?

Table of contents

Tables and charts

This report includes the following images and tables:

  • Changes in quarterly stainless steel production in China
  • Imports of Indonesian hot-rolled stainless penetrate Malaysian market
  • Aircraft deliveries down sharply in 2020 due to the pandemic
  • 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)
  • Operating and planned RKEF lines by 2022
  • Indonesian nickel in NPI production forecast
  • Weda Bay development (June 2018 to July 2020)
  • Global nickel mine production/capability (kt)
  • Global nickel smelter production/capability (kt)
  • 3 more item(s)...

What's included

This report contains:

  • Document

    Global_nickel_short-term_outlook_July_2020.pdf

    PDF 1.10 MB