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Nickel production exceeds demand

3 August 2015

For the period January-May global nickel production exceeded demand. The world market for the period showed an excess of metal at 19 000 tonnes. Last year, the surplus reached the level of 196,100 tonnes. This information was provided to the World Bureau of Metal Statistics. Statistical data indicate that nickel stocks at the end of May LMEv 51 000 tonnes higher than the closing level of 2014.

World production of nickel mines reached the mark 832 400 tonnes for the period January-May 2015. This figure is 25.10 million tons more than in the same period last year. Indonesian ban on the export volumes decreased export of unprocessed raw materials from the country. Elaboration of refined nickel for the period amounted to 734 000 tonnes. In Japan, growth during January-May amounted to 8680 tonnes in 2014 on the indicators.

Demand for refined nickel for 5 months of this year amounted to 715 000 tonnes. Only the use of nickel smelter in May reached 167,000 tons mark. In Japan, demand for the metal was only slightly higher than in 2014, an increase of 0800 tonnes. The world consumption of nickel in January-May 2015 was lower by 7.1 thousand tons compared to last year.

Analysts have different opinions nickel prospects. Citibank Experts believe that after the April rush prices again experienced a bearish trend value. The Citibank noted that consumers of stainless steel is not enough motivation to increase the available inventory due to weak cost. Experts are not too believe in a stable metal value or growth stocks of stainless steel in July-August. Analysts at ANZ offer investors build long positions of nickel. This approach is due to the increase in import volumes from China and a decrease in stocks at the LME. In this case, you can count on the market to offset the deficit. According to analysts, within 3 months there will be a trend towards cost 15 thousand USD.

You can not expect to jump in the cost of nickel in 2014. Apparently, IIIkvartale demand for the metal will decrease. In China, demand for metals weakened. Consumers are forced to pay a considerable premium to the cost of nickel to produce the goods. In addition, the Philippine deliveries increased. Quality Philippine nickel raw materials continues to increase.

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