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Nickel
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Competitive Intelligence

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Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

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Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Abi will answer all Nickel related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

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Get up-to-date market and supplier info on Nickel to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

1

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

manage-risk

Assess Supplier Risk based on key risk and compliance parameters

1

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

2

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

discover-supplier

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

1

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

assess-category-perforamnce

Benchmark your category performance against peers and the market

1

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

source-market-indices

Get information on key factors affecting your supply

1

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Report Coverage

  • Regional Market Outlook
  • Negotiation Support Levers
  • Cost Structure

Production Size

Global Production

2067 KT

Americas

219 KT

Europe

389 KT

APAC

1,800 KT

Table of contents

  1. Executive Summary
  2. Category Landscape
  3. Regional Market Outlook
  4. Category summary – COVID-19 Impact
  1. Market Analysis
  2. Market Overview
  3. Market Drivers and Constraints

 

  1. Nickel Regional Market Outlook
  2. Global Porter’s Five Forces Analysis
  3. Negotiation Support Levers
  1. Nickel COVID-19
  2. Covid impact
  1. Nickel Cost and Pricing Analysis
  2. Cost Structure
  3. Price Trend and Forecast

 

  1. Nickel Industry Best Practices
  2. Industry Activities
  3. Contract Models
  4. Technology Development

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Global Market Outlook on Nickel

  • Nickel mine supply remains subject to a range of disruptions, including reduced production in Brazil and the Philippines, as well as the Indonesian export ban. Despite this, the world’s refined nickel market was expected to record a net surplus for 2020, as the pandemic was expected to have a greater negative impact on consumption than on production. The market was expected to move from a 61,000-ton deficit in 2019 to a 43,000-ton surplus in 2020.

  • Global primary finished nickel consumption was forecast to contract by 15% in 2020, as the COVID-19 pandemic has been adversely impacting the world, with the Chinese construction and automotive sectors facing a huge dent in their revenue pools. The resulting shutdowns due to the pandemic have severely reduced activity in the industrial and construction sectors, resulting in weaker demand for base metals, including nickel.

  • April’s upward trend in nickel prices was likely a false indicator of early recovery, as previous fears of a supply shortage were alleviated by an expected widening market surplus for nickel. However, given its exposure to China’s stainless steel and electric vehicle (EV) production, there is a wide consensus that nickel is one of the best-placed base metals to rebound, as the world, particularly China, starts to recover economically from the COVID-19 pandemic

  • China’s nickel ore imports plunged by 66% year-on-year (y-o-y) in April 2020, as imports from Indonesia and the Philippines fell. China’s nickel ore imports declined by 35% y-o-y in the first four months of 2020. Falling nickel ore port stocks in China signal a tightening nickel ore market, as China accounts for just over half of the world’s nickel demand. Global nickel demand is expected to be impacted more negatively by the COVID-19 than nickel supply.

  • The Indonesian nickel ore ban and a sharp fall in exports from the Philippines are having significant effects on Chinese nickel pig iron output, which declined for the second consecutive quarter in March 2020. In early April 2020, the Philippines’ biggest nickel miners suspended operations, as a result of measures to contain COVID-19. These suspensions resulted in nickel ore output in the March quarter declining by 27% from a year earlier to 28,000 tons. With more than half of its 29 operating nickel mines reporting zero production, port data suggests exports from the Philippines fell drastically in April 2020, with January to April 2020 exports of nickel ore falling by 40% y-o-y. The Philippines has become the main feedstock source for China’s nickel pig iron industry, since the introduction of Indonesia’s export ban.

  • Vale, the world’s largest producer of nickel, lowered its nickel production guidance for 2020, with the company citing heavy rain, unplanned outages, regulatory delays, and ongoing logistics disruptions caused by COVID-19-induced lockdowns. Vale revised its 2020 production guidance for nickel down from 200,000–210,000 tons to 180,000–195,000 tons for the year. Vale nickel production totaled 208,000 tons in 2019.

Global Nickel Market Trends

The demand for nickel is coming from the gas & oil industry given the requirement of corrosion-proof products. Oil rigs are susceptible to structural and other deformities due to corrosion which has a significant effect on their business operations. In such extreme pressures and temperatures, nickel alloys offer exemplary performance.

Electric resistance heating elements need different kinds of nickel alloys given their umpteen heat resilience. Soft magnetic aspects of nickel-iron (Ni-Fe) alloys make them beneficial in electronic devices and communication equipment that require electromagnetic shielding. The rising demand for anode plates, transistor enclosures, plater bars, and other electronic items will propel the demand for nickel and its alloys in the electrical & electronics industry.

Resistance heating alloys have broad use cases, including heating systems, industrial furnaces, and household appliances. In furnaces, such alloys work at 1700 °C in firing ceramics, while at 1300 °C in metal processing domains. Industrial furnaces are poised to see surging demand for nickel alloys owing to the rising production in different metal processing verticals, such as forging and casting, among others.

Global Nickel Market: Drivers and Constraints

Drivers

Demand from Battery Manufacturing

  • The use of nickel in battery manufacturing is expected to expand over the outlook period, as both the scale of battery manufacturing expands and the nickel intensity of battery technologies rises. Technological advances are facilitating the manufacture of batteries with a higher amount of nickel, which is favored for its efficiency, longevity, and cost-effectiveness

Consumption of Stainless Steel

  • Chinese net exports of stainless steel for March almost doubled over January and February 2020. Defying market expectations, Chinese domestic inventories have fallen, the stainless steel price has strengthened, and a recovery in April production has led to improved conditions for Chinese stainless steel markets, consequently improving expectations for nickel consumption

Constraints

Demand from End-use Industry

  • End-use demand for nickel will be adversely affected by COVID-19 that the LME nickel price will recover at the slowest pace among the base metals. It is forecasted a 15 percent drop in end-user demand for nickel year-on-year in 2020, increasing the likelihood of a significant reduction in investment interest

Supply Disruption

  • Nickel supply disruption log for 2020 currently estimates unplanned losses this year at 203,000 tons (7.5 percent) of annual production. Most of these are due to restrictions related to COVID- 19. Going forward, it seems that demand rebound hopes, supply disruption threats, a potentially bullish technical chart setup, and risk-on sentiment seem to be outweighing the potential negatives for nickel prices

Why You Should Buy This Report

This report on nickel industry outlook covers:

  • Market intelligence to enable efficient decision-making

  • Growth prospects and trends assessment

  • Competitive strategy and nickel demand forecast analysis

  • Regional and segmental nickel forecast for market evaluation

  • COVID-19 impact and how to survive these fast-changing markets

  1. At what rate the nickel market in China grew by 2020?
  2. From the market analysis reports from Beroe, China’s nickel ore imports decreased by 66% year-on-year (y-o-y) in April 2020, due to declining imports from the Philippines and Indonesia. Moreover, the country’s nickel ore imports have dropped by 35% y-o-y during the initial four months of 2020. 

 

  1. Which regions are likely to drive the growth of the global nickel market in the future?
  2. In Asia, China will remain in the vanguard of the global nickel market, holding over 50% of the overall revenue. Moreover, Indonesia, Brazil, and the Philippines are contributing notably to market value.

 

  1. Who are the top global providers of nickel?
  2. At present, Vale is the leading producer of nickel across the globe. However, the company has decreased its nickel production in 2020 due to the COVID-19 pandemic.  As such, its nickel production for the fiscal year dropped to 180,000–195,000 tons from the previous 200,000–210,000 tons.

 

  1. What are the key trends in the global nickel industry?
  2. Rising usage of stainless steel, increased production of electric vehicles (EV), and disrupted supply-demand balance due to the COVID-19 pandemic are some of the major trends affecting the nickel market outlook.

 

  1. What are the factors driving the global nickel market?
  2. The global demand for nickel is increasing owing to the surging production of nickel-based batteries and increasing consumption of stainless steel. On the other hand, the COVID-19 has severely impacted the supply chains of the global nickel market, further leading to reduced investment interest.


 

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