Commodity Market Report

Global nickel short-term outlook May 2021

27 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.

Nickel in stainless
- Asia
- China
- Indonesia
- Europe
- Americas
- Brazil
- US
Nickel in batteries
- Asia
- US

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