Commodity Market Report

Global nickel short-term outlook June 2018

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29 June 2018

Global nickel short-term outlook June 2018

Report summary

Nickel prices revisit April peak then fall back, as exchange stocks decrease further and Tsingshan commissions line #3 in Indonesia. In China, there is further drift towards non-nickel ferritic stainless, and we revise up our price forecast for 2020, with an eye on mounting deficits in subsequent years.

Table of contents

  • Executive summary
  • Supply-demand balances
    • China
    • North America
      • Global refined nickel consumption (kt)

Tables and charts

This report includes 18 images and tables including:

  • Key forecasts
  • LME and SHFE nickel stocks, and nickel prices
  • Asian LME nickel stocks - cathode decreases as briquettes accumulate
  • Global nickel quarterly supply-demand balance
  • LME cash and 3-month spread
  • Quarterly global nickel consumption in stainless steel (kt)
  • Quarterly refined nickel consumption by first use (kt)
  • Indonesian exports of stainless steel: Tsingshan shipping large volumes to China
  • Global nickel mine production/capability (kt)
  • Chinese stainless steel scrap requirements to meet the current WM forecast
  • Global quarterly refined consumption (kt)
  • Quarterly global stainless steel production (kt raw steel basis)
  • Global nickel smelter production/capability (kt)
  • Global finished nickel production/capability (kt)
  • Nickel stocks and premiums
  • Global refined nickel supply-demand balance (kt)
  • Demand: Table 5
  • Global stainless steel production (kt raw steel basis)

What's included

This report contains:

  • Document

    global nickel short-term outlook june 2018.pdf

    PDF 371.65 KB

  • Document

    Global nickel STO data tables June 2018.xls

    XLS 470.50 KB

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