Nickel Market
Regions Covered
EU
Regions Covered
EU
Nickel is majorly used as a raw material in stainless steel 300 series. China is a major consumer of stainless steel and it is expected to drive the nickel demand in 2018. The investments in the Indonesian market have seen an upward trend in recent times and its capacity is expected to ramp up further and an additional 1 million tonnes of 300-series stainless steel is expected to be commissioned H1 2018. Global mined Nickel production was at 2.02 MMT, in 2017, an increase of 3 percent compared to 2016. Indonesia was the major producer of nickel contributing about 22% of the global supply in 2017. The main reason is the higher demand due to the optimism surrounding the EV market and nickel’s use specifically in the EV batteries combined with the predicted rise in demand for stainless steel. Demand for nickel is expected to rise in the coming years and by 2-3% in 2018. This is owing to the positive outlook for being used in batteries of Electric vehicles especially in the Chinese market. The nickel supply from Philippines has reduced to levels of 200000 metric tonnes in 2017 from 500000 in 2016, in light of the open pit mining ban.
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