Commodity Market Report
Global nickel short-term outlook July 2023
Report summary
Nickel prices picked up in late July as interest rates increased. Further support may come from the improving stainless steel industry in China, but a more significant decline in prices is coming. While the Class II nickel excess is not yet diminishing, a rise in Class I nickel stocks is imminent as Huayou becomes the first of many Chinese producers to gain approval for delivery into LME warehouses. And nickel sulphate discounts will be around for a while as that market too becomes more oversupplied.
Table of contents
- Nickel sulphate prices
-
Nickel in stainless
- Asia
- China and Indonesia
- India
- Europe
- Appendix - Data Tables
Tables and charts
This report includes 15 images and tables including:
- Quarterly global nickel consumption in stainless steel (kt)
- Quarterly refined nickel consumption by first use (kt)
- 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)
- Indian imports of Class I nickel
- Japanese trade in stainless steel flat products and stainless melt production
- Forecast Chinese nickel metal (Class I) production
- Chinese class I nickel capacity
What's included
This report contains:
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