Name: Global nickel short-term outlook July 2023
Brand: Wood Mackenzie
SKU: 156462
Price: 5000 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Commodity Market Report 31 July 2023

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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.

Nickel sulphate prices
Nickel in stainless
- Asia
- China and Indonesia
- India
- Europe
Appendix - Data Tables

Tables and charts

This report includes the following images and tables:

Quarterly global nickel consumption in stainless steel (kt)Quarterly refined nickel consumption by first use (kt)Quarterly global refined nickel consumption (kt)