Global nickel short-term outlook March 2023
Although nickel prices were sent lower by bank failures, China stainless is heading for another round of production cuts. Stainless markets elsewhere remain off colour as the mills await re-stocking in Q2. Meanwhile, battery demand for nickel is still strong but supply of raw materials is stronger still. Indonesia is flush with matte and MHP, and this month saw the largest nickel sulphate plant in the world come on line.