Refined nickel prices improved marginally in 4Q12 after continuously declining during the first three quarters of 2012.
The global refined nickel stocks increased during 3Q12 and 4Q12 due to production exceeding consumption, representing a q-o-q growth of 9 percent and 26 percent, respectively. This current oversupply situation in the nickel market is expected to continue and may worsen in 2013 — leading to an increase in quarterly commercial stocks to a more-than-150kt level. However, with a downward trend in prices, output is expected to fall in 2014, resulting in lower stocks during the year.
Also in this report:
- Challenging times for the global nickel industry
- Supply and demand
- Key developments
Download the full report.
Other 2012 Q4 Quarterly Commodity Bulletins: