Commodity market report

Global nickel short-term outlook September 2017

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Report summary

Q3 nickel price rally ends in mid September as SHFE triples transaction charges on its nickel contract. The fall in SHFE stocks is countered by a rise in LME. Near term demand is showing signs of moderating as China prepares to receive more stainless from Tsingshan Indonesia. Equally as lower nickel prices will mean lower stainless prices many European and US buyers may delay stainless orders until November. Outlook for 2018 2019 is for slightly higher nickel prices capped by the continuing high inventory levels.

What's included

This report contains

  • Document

    Global nickel STO data tables Sep 2017.xls

    XLS 413.00 KB

  • Document

    Global nickel short-term outlook September 2017

    PDF 470.35 KB

  • Document

    Global nickel short-term outlook September 2017

    ZIP 605.86 KB

Table of contents

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

Tables and charts

This report includes 17 images and tables including:

Images

  • Supply-demand balances: Image 1
  • LME cash and 3-month spread
  • Chinese exports of hot-rolled stainless rising, especially to Vietnam, Thailand, Malaysia and Italy

Tables

  • Executive summary: Table 1
  • Supply-demand balances: Table 1
  • Demand: Table 1
  • Quarterly refined nickel consumption by first use (kt)
  • Indian stainless steel imports (categories 7219 and 7220, flat products)
  • Demand: Table 4
  • Quarterly global stainless steel production (kt raw steel basis)
  • Global refined nickel consumption (kt)
  • Global stainless steel production (kt raw steel basis)
  • Supply: Table 1
  • Global nickel smelter production/capability (kt)
  • Global nickel metal production/capability (kt)
  • Supply: Table 4
  • Supply: Table 5

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