Ni & Co CONFERENCE: NPI ramp-up to squeeze nickel supply deficit in 2019
The global nickel supply deficit for 2019 will narrow to 22,000 tonnes from 143,000 tonnes in 2018, mainly due to the ramp-up in nickel pig iron (NPI) output next year, Xu Aidong, chief analyst of Chinese research organization Antaike said at the Antaike Annual Nickel & Cobalt conference in Xiamen, China, on November 7.
Nickel output next year is anticipated to reach 2.40 million tonnes globally, while consumption will be 2.42 million tonnes next year, Xu said.
“The increase in Indonesian NPI ouput will add at least 100,000 tonnes of nickel in metal to the market next year with many key projects coming online soon, and that explains the narrowing deficit,” a delegate at the conference told Fastmarkets MB.
The total NPI capacity in Indonesia is equivalent to 350,000 tonnes of nickel in metal, and actual NPI output is expected to be around 310,000 tonnes this year, Xu added.