Nickel market will swing to deficit in 2017 on strong demand recovery – Macquarie

Macquarie Bank gave a cautiously optimistic outlook on the global nickel deficit at a nickel and chrome summit in Hangzhou, China, due to robust demand and decreasing supply between 2016 and 2017.

The global deficit will be 67,000 tonnes of nickel metal in 2016, expanding to 93,000 of nickel metal in 2017, Macquarie told conference delegates at the end of October. Stainless steel sector demand Strong demand, especially from the stainless steel sector, has been the main driver of the nickel price in 2016. The London Metal Exchange daily official nickel price averaged $10,308.45 per tonne in October compared to $8,523.50 per tonne in January.  Chinese stainless steel output growth...

Published

Ellie Wang

November 10, 2016

15:38 GMT

Hangzhou