Nickel overproduction in 2013 will reach 75 thousand tons

The world production of Nickel this year will increase by 4.7 percent and reach 1 million 844 thousand tons. This is stated in the presentation of the world's largest manufacturer of this metal of the Russian company GMC Norilsk Nickel.

Thus, the production of Nickel will be ahead of its consumption, which is expected at the level of 1 million 769 thousand tons for 75 thousand tons for the second year in a row.

Nickel manufacturers have the main hope of the growth of his consumption by Chinese metallurgical companies - stainless steel manufacturers.

However, according to the forecasts of independent experts, in 2013, a further reduction in the consumption of nickelic cast iron is expected, since at the current prices for nickel about 40 percent of all stainless steel manufacturers suffer losses.

At the same time, nickel consumption will increase due to an increase by 10 percent of global production of stainless steel. The growth of world consumption of nickel -containing alloys is also continuing and the exhaustion of world sulfide deposits is observed.

As reported, according to the World Metal Statistics Bureau, the global excess supply of pure nickel in the world market in January - March 2013 was 7 thousand tons, which is half as much as a year earlier. Demand for refined nickel over the first three months of this year increased by 8.8 percent and amounted to 454 thousand tons, while its production increased by 6.9 percent to 461 thousand tons.