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Commodity Market Report

Global nickel short-term outlook September 2022

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29 September 2022

Global nickel short-term outlook September 2022

Report summary

Nickel prices in September were volatile as the bulls were spurred by a better Chinese stainless market before the bears returned with a stronger dollar. There are few positives for stainless elsewhere. Talk of China restricting stainless exports in 2023 adds to uncertainty, potentially weakening demand, which could then delay new capacity. And with so much MHP and matte now coming in Indonesia, next year's tightening nickel market could easily flip the other way.

Table of contents

Tables and charts

This report includes 11 images and tables including:

  • Quarterly global refined nickel consumption (kt)
  • Quarterly global stainless steel production (kt raw steel basis)
  • Global refined nickel consumption (kt)
  • 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 premiums
  • Global refined nickel supply-demand balance (kt)
  • Exports of stainless steel flat products: China increasing to estimated 3.8 Mt* in 2022
  • European change in quarterly stainless production, by country

What's included

This report contains:

  • Document

    Global Nickel Short Term Outlook September 2022.pdf

    PDF 963.61 KB