The global Nickel market deficit will remain
According to the analysts INSG next year, the shortage of Nickel will persist. The consumption of this metal will rise by 5.1%. The comparison is with 2017 year. Performance in the end will amount to 2,259 million tons. Production of metals will increase by 7.5% to 2,206 million tons. The result will be a reduction of the gap between supply and consumption. If present, it was 98000 tonnes in 2018, the figure will reach 53,000 tons. However, the deficit is still quite noticeable. Experts say the increased use of Nickel in the first place in the steel sector. There it is mainly used for manufacturing stainless steel.
Experts report that global output of stainless steel in the first half of 2017 amounted to 23.2 million tons. This figure is 5% higher compared to the results of 2016. Thus in INSG believe that the pace of growth in the second half of the year will be reduced.
Another major consumer of Nickel in the near future will be the manufacturers of batteries used in hybrid electric cars. Presumably the sale of such equipment will increase to 14.2 million — this figure will be reached in 2025. For comparison, in 2016, the result reached only 2.4 million That to of Nickel, last year in the battery industry spent about 40000 tons of metal. However, in 2025 it is necessary to use not less than 220,000 tons. However, note that the electric batteries are used in the different industries. For example, batteries used in many household appliances, devices that accumulate and retain electricity. To solve such problems in 2025 will need to use about 275,000 tonnes of Nickel. This figure will correspond to approximately 12% of world consumption.