Commodity market report
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24 Pages

Global nickel short-term outlook September 2016


Global nickel short-term outlook September 2016

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 includes 2 file(s)

  • Global nickel short-term outlook September 2016 PDF - 527.98 KB 24 Pages, 14 Tables, 4 Figures
  • Data Tables Ni STO.xls XLS - 406.00 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
  • Demand
    • Quarterly global nickel consumption in stainless steel (kt)
  • Supply

In this report there are 18 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Supply-demand balances
    • Variation in nickel prices and open interest during September
    • Supply-demand balances: Table 1
  • Demand
    • Demand: Table 1
    • Quarterly refined nickel consumption by first use (kt)
    • 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
    • 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
    • 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)
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