Commodity Market Report

Global nickel short-term outlook May 2021

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27 May 2021

Global nickel short-term outlook May 2021

Report summary

Nickel prices rally on the weak dollar, strong 300 series stainless worldwide and ongoing challenges to supply due to Covid and the container shortage. Battery demand for nickel is increasing and investors remain bullish on electrification and the evolution to a greener economy. These fundamentals will support high prices through Q2 and into the second half, despite China's stated intent to restrain commodity prices.

Table of contents

Tables and charts

This report includes 13 images and tables including:

  • Ramp up in Indonesian exports of stainless billet (Tsingshan and Delong) and CR (Tsingshan)
  • Strong growth in quarterly stainless steel production in Europe this year
  • The balance between China's nickel sulphate production and consumption
  • 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)
  • Global nickel concentrate balance
  • 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 May 2021.pdf

    PDF 2.34 MB