Commodity Market Report
Global nickel short-term outlook July 2022
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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.
Table of contents
-
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 12 images and tables including:
- 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 premiums
- Global refined nickel supply-demand balance (kt)
- Estimated exports by Tsingshan of stainless steel to China, by type
- Estimated nickel-in-MHP export from Indonesia, by destination
- Capacity utilisation of combined Indonesian HPAL operations
What's included
This report contains:
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