Commodity Market Report

Global nickel short-term outlook June 2021

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30 June 2021

Global nickel short-term outlook June 2021

Report summary

Higher nickel prices are supported by fundamentals: strong demand, tight supply and falling LME stocks. Equally premiums are rising due to the strike at Sudbury and a new Russian export tax. Indonesia considers restricting the building of new NPI smelters. This could spur more stainless and matte, but will also transform the dynamics of nickel supply to China Stainless. And investments across the energy metals supply chain continue.

Table of contents

Tables and charts

This report includes 13 images and tables including:

  • Nickel-in-matte production will drive up scrap ratios in China
  • European imports - less stainless from Asia, especially China
  • Aircraft deliveries - improving in 2021
  • 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)
  • PT Smelter Nikel Indonesia processing facility
  • 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)

What's included

This report contains:

  • Document

    Global Nickel Short Term Outlook June 2021.pdf

    PDF 1.24 MB