Global nickel demand is expected to outpace shipments for the third consecutive year in 2018 as stainless steel demand expands and nickel-containing battery production grows, the International Nickel Research Group (INSG) said.
Global demand for nickel has increased to 2.259 million tonnes from supply of 2.206 million tonnes, according to its latest annual report, leading to a 53,000 tonne shortage of refined nickel next year.
The projected deficit will be lower than this year, with INSG at around 98,000 tonnes, demand for 2.15 million tonnes and supply for 2.052 million tonnes.
According to the International Stainless Steel Forum (ISSF), nickel consumption in the stainless steel sector rose 5 percent in the first half of 2017, when global stainless steel production reached 23.2 million tonnes.
INSG expects use in the sector to moderate growth in the second half of this year.
“2018 should also be a positive year for stainless steel, but with lower growth projections. The increase in the production of nickel-containing batteries will have a positive impact on the use of nickel, ”it was reported. Electric storage batteries are emerging as a new market for metal demand.
Global Nickel Market Targets Third Year of Deficit
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Azovpromstal® 28 October 2017 г. 11:32 |
