Commodity Market Report
Global nickel short-term outlook October 2022
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Supply explosion and demand erosion keep the nickel market in surplus during 2022-2024. NPI doubles in two years while the ramp up in Indonesian MHP and matte accelerates. However, economic deterioration, zero-Covid and severe weather undermine stainless production this year and next. As global stainless contracts in 2022, leaving an excess of NPI, MHP and matte are absorbed to make nickel sulphate - the compelling battery story goes on.
Table of contents
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Nickel in stainless
- Asia
- China
- Indonesia
- South Korea
- Europe
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Nickel in non-stainless
- Battery raw materials
- Appendix - Data Tables
Tables and charts
This report includes the following images and tables:
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Quarterly global refined nickel consumption (kt)Quarterly global stainless steel production (kt raw steel basis)Global refined nickel consumption (kt)
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Global stainless steel production (kt raw steel basis)Global nickel mine production/capability (kt)Global nickel smelter production/capability (kt)Global finished nickel production/capability (kt)Nickel stocks and premiumsGlobal refined nickel supply-demand balance (kt)European change in quarterly stainless production, by country
What's included
This report contains:
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