Commodity market report

Global nickel short-term outlook September 2016

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Report summary

September nickel prices rallied on anticipation and then confirmation of more Filipino mine closures being endorsed by the ongoing environmental audit. A large number of nickel mines were recommended for suspension on 27 September and this was enough to push prices up to a month high of US$10 757/t (US$4.88/lb). Prices then moderated pending the outcome of appeals which will not be known until next month. If all the recommended suspensions are ultimately enforced and the affected mines remain closed for the whole of 2017 we estimate that 120 150kt of nickel in Chinese NPI production could be lost next year.

What's included

This report contains

  • Document

    Data Tables Ni STO.xls

    XLS 406.00 KB

  • Document

    Global nickel short-term outlook September 2016

    PDF 527.98 KB

  • Document

    Global nickel short-term outlook September 2016

    ZIP 657.97 KB

Table of contents

  • Executive summary
  • Supply-demand balances
  • Demand
  • Supply

Tables and charts

This report includes 18 images and tables including:

Images

  • Variation in nickel prices and open interest during September
  • Forecast contribution of new capacity ramp up on total Chinese stainless melt output
  • Quarterly stainless melt production and stainless steel product sales by Jindal (FY April to March)
  • European stainless steel base prices and alloy surcharges: alloy surcharges trending up in 2016

Tables

  • Supply-demand balances: Table 1
  • Filipino nickel mining operations suspended and recommended for suspension
  • Global nickel mine production/capability (kt)
  • Global nickel smelter production/capability (kt)
  • Global nickel metal production/capability (kt)
  • Nickel stocks and premiums
  • Global refined nickel supply-demand balance (kt)
  • Executive summary: Table 1
  • Demand: Table 1
  • Quarterly refined nickel consumption by first use (kt)
  • 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)

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