INSG Global nickel supply to rise by 18.2% in 2022, driven by increased capacity in Indonesia
Date: 2022-07-19
INSG: Global nickel supply to rise by 18.2% in 2022, driven by increased capacity in Indonesia
According to a report from the International Nickel Study Group (INSG), global nickel consumption rose by 16.2% last year, boosted by the stainless steel industry and the fast-growing battery industry. However, the nickel supply had a shortage of 168,000 tons, the largest supply-demand gap in at least a decade.
INSG expected that the consumption this year will rise another 8.6%, surpassing 3 million tons for the first time in history.
With the increased capacity in Indonesia, the global nickel supply was estimated to grow by 18.2%. There will be a surplus of approximately 67,000 tons this year, while it is still uncertain whether the oversupply will affect nickel prices.
Post time: Jul-19-2022
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