Commodity market report
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25 Pages

Global nickel short-term outlook June 2016

Global nickel short-term outlook June 2016

Report summary

Nickel prices increased during the first half of June, assisted by news of potential supply issues in Colombia and the Philippines, and a two week shutdown in Madagascar, as well as China signalling that it would continue to build its metal stocks. The Brexit vote to leave the EU brought the price rally to an end and uncertainties tied to this result will likely result in moderate nickel price volatility in the months ahead. That said, we have retained our forecast average nickel price of US$4.00/lb (US$8,800/t) for 2016.

What's included?

This report includes 2 file(s)

  • Global nickel short-term outlook June 2016 PDF - 779.08 KB 25 Pages, 13 Tables, 5 Figures
  • Data Tables Ni STO.xls XLS - 428.00 KB


As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth.

This Nickel Short Term Outlook report provides a detailed breakdown of global supply and demand balances in this market, as well as price forecasts.

Mining companies, investment banks and investors can use this report to understand the future direction of the ferrous and base metals market. It will also help you assess the impact of key industry issues and events on market balances and pricing.

From acquisitions to investments, Wood Mackenzie helps you plan, forecast and benchmark in the metals markets. Our proprietary database and analyst expertise combines robust production, consumption and pricing data with detailed analysis to identify market opportunities.

We give you a holistic view of the ferrous and base metals markets so you have the confidence to make strategic decisions.

  • Executive summary
  • Supply-demand balances
  • Demand
    • Quarterly global nickel consumption in stainless steel (kt)
  • Supply
    • Chinese nickel ore imports from the Philippines

In this report there are 18 tables or charts, including:

  • Executive summary
    • Key forecasts
  • Supply-demand balances
    • Supply-demand balances: Table 1
  • Demand
    • Demand: Table 1
    • Quarterly refined nickel consumption by first use (kt)
    • Combined Chinese stainless inventory held at Wuxi and Foshun
    • Chinese exports of stainless steel (dominant categories)
    • Chinese exports of HR stainless (dominant categories)
    • Demand: Image 4
    • 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)
  • Supply
    • Supply: Image 1
    • Global nickel mine production/capability (kt)
    • Global nickel smelter production/capability (kt)
    • Global nickel metal production/capability (kt)
    • Nickel stocks and premiums
    • Global refined nickel supply-demand balance (kt)
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