Commodity Market Report
Global nickel strategic planning outlook Q1 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
Nickel prices to retreat as Indonesian nickel supply - NPI, matte and MHP - pushes market into surplus. But stronger battery demand will support higher prices from 2026. China leads the way in stainless, supported by India. Indonesia could yet take off but Turkey is looking interesting. The energy transition will not only drive up demand for nickel in batteries, but also the supply of secondary nickel from recycled batteries and manufacturing scrap.
Table of contents
- Medium-term forecasts
- Nickel sulphate premiums
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Risks to forecast
- Short term - upside
- Short term - downside
- Medium term - upside
- Medium term - downside
- Price scenario
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Long-term prices
- The project incentive price (high case long-term price forecast).
- The price/C1 operating cost relationship – low case forecast.
- The price/C2 operating cost relationship – base case scenario.
- Overview
- Changes since the last quarter
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Nickel in stainless steel
- Asia
- China
- India
- Indonesia
- Europe
- North America
- Nickel in precursor chemicals for batteries
- Overview
- 5 more item(s)...
Tables and charts
This report includes the following images and tables:
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Price forecasts and refined market balancesNickel market balance and price outlookRequirement for new refined nickel production
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Nickel sulphate premiumsPrice scenarioBase case price and price scenarioRegional nickel consumptionMain changes in nickel consumption outlook since the previous quarterChinese precursor production outlookRegional nickel mine production capabilityRegional nickel refinery production capabilityMain changes in refined nickel production since the previous quarter
- 4 more item(s)...
What's included
This report contains:
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