Commodity market report
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23 Pages

Global nickel short-term outlook November 2016


Global nickel short-term outlook November 2016

Report summary

Cash nickel prices reached US$11,632/t (US$5.28/lb) on 15 November, their highest level for 16 months. The expectation of even higher prices in the next six months is based on two key factors: a Q1/17 tightening in the supply of ore feed for Chinese nickel pig iron (NPI) that will mean lower NPI production in 2017; and the continued expansion of China's stainless steel industry that will be forced to seek alternative nickel units as domestic NPI declines.

What's included?

This report includes 2 file(s)

  • Global nickel short-term outlook November 2016 PDF - 453.27 KB 23 Pages, 13 Tables, 6 Figures
  • Global nickel STO data tables November 2016.xls XLS - 408.50 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
    • Key forecasts
  • Supply-demand balances
    • LME and SHFE nickel stocks, and nickel prices
    • Suspension threat to Filipino nickel mines
    • Global nickel quarterly supply-demand balance
  • Demand
    • Quarterly global nickel consumption in stainless steel (kt)
  • Supply
    • Global nickel mine production/capability (kt)

In this report there are 19 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Supply-demand balances
    • Supply-demand balances: Image 1
    • Supply-demand balances: Image 2
    • Supply-demand balances: Table 1
    • LME cash and 3-month spread
  • Demand
    • Demand: Table 1
    • Quarterly refined nickel consumption by first use (kt)
    • Chinese stainless steel production by grade - primary nickel uptake surge in 2016
    • Production ramp up at new Chinese stainless melting capacity (excludes Baotou)
    • China's second tier producers that have exited stainless - 27 plants have gone with loss of 2Mt output (at peak)
    • Demand: Table 3
    • Quarterly global stainless steel production (kt raw steel basis)
    • Global refined nickel consumption (kt)
    • Global stainless steel production (kt raw steel basis)
  • Supply
    • Supply: Table 1
    • Supply: Table 2
    • Supply: Table 3
    • Supply: Table 4
    • Supply: Table 5
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