Commodity market report
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25 Pages

Global nickel short-term outlook March 2016


Global nickel short-term outlook March 2016

Report summary

Nickel production cuts are taking place and demand is perhaps a little better than it was in February, but neither have made a significant impact on nickel prices or market sentiment, despite a brief rebound to above US$9,000/t in the first week of March. Exchange stocks remain above 500kt, with off-exchange stocks estimated to be at a similar level, and so further production cuts are still needed. We believe these will come if prices remain at their present levels for the next 6-9 months. This should then lead to a draw on inventory, which in turn could stimulate prices to start moving slowly upwards.

What's included?

This report includes 2 file(s)

  • Global nickel short-term outlook March 2016 PDF - 456.73 KB 25 Pages, 13 Tables, 7 Figures
  • Data Tables Ni STO.xls XLS - 417.50 KB

Description

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
    • China
    • Asia
    • Europe
    • North America
    • Nickel in non-stainless
  • Supply

In this report there are 20 tables or charts, including:

  • Executive summary
    • Key forecasts
  • Supply-demand balances
    • LME nickel stocks and nickel prices
    • End-2015 calculated global nickel stocks stood at 1.3Mt
    • Nickel production cuts - approximately 80kt nickel lost to market since December 2015
    • Global nickel quarterly supply-demand balance
    • LME cash and 3-month spread
  • Demand
    • Quarterly global nickel consumption in stainless steel (kt)
    • Quarterly refined nickel consumption by first use (kt)
    • Chinese stainless steel prices by grade - steady in 2016
    • Baosteel - 300 series production moves to Desheng
    • Shanghai #1 becomes 100% 400 series ferritics
    • 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
    • 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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