Name: Global nickel short-term outlook July 2022
Brand: Wood Mackenzie
SKU: 144129
Price: 5000 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Commodity Market Report 28 July 2022

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Report summary

Bearish macroeconomic commentary surrounding commodities as well as a large forecast global nickel surplus look bad for prices. However, as the excess is mostly NPI, the market for Class 1 nickel is still tight. This together with strong growth in demand in 2023, as China absorbs all that NPI in new stainless melting capacity, will help to keep prices buoyant. Surpluses in nickel matte and MHP will also ease when more processing capacity becomes available.

Nickel in stainless
- Asia
- China
- Indonesia
- Europe
Nickel in battery materials
- Summer sale: corporate welfare spurs on growth in US EV sector
Appendix - Data Tables

Tables and charts

This report includes the following images and tables:

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)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)Estimated exports by Tsingshan of stainless steel to China, by typeEstimated nickel-in-MHP export from Indonesia, by destinationCapacity utilisation of combined Indonesian HPAL operations