Global nickel strategic planning outlook Q1 2023
Strengthening demand for nickel in China’s rechargeable battery and stainless steel industries will support robust growth in global nickel demand over the mid-term. Despite that, large mid-term surpluses are looming as China ramps up nickel intermediates production in Indonesia for nickel sulphate. Surplus NPI will dissipate by 2024 and then the excess in Class I and sulphate will increase. LME prices will fall.