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INSG Forecasts World Output Of Primary Nickel In CY 2011 As 1,610,000 Tons
= An Estimation Released At General Conference Held In Last Week, With Increase Of 180,000 Tons From 2010
INSG (International Nickel Study Group) held the General Conference for the two days of the 5th to 6th of October and estimated the world output of primary nickel in the next calender year (January - December) of 2011 as 1,610,000 tons, which will have an increase of 180,000 tons from that (1,430,000 tons) anticipated to be produced in this year of 2010.

INSG says that the supply and demand of primary nickel in the world has been balanced in 2010 but, reflecting a substantial increase in the world production of primary nickel, the global supply of primary nickel in 2011 is anticipated to have an excess of 80,000 tons. This excess of primary nickel to be supplied in 2011 is due to the facts of (1) many of new nickel projects under development will be commissioned in 2011, (2) the strike at the Sudbury Division of Vale in Canada continued for a long period was finally called off and a substantial revival of nickel production is expected, and so on. These cases will create a basic tone to increase nickel production as a whole.

On the other hand, INSG estimates that the world consumption of primary nickel in 2011 will come up to 1,530,000 tons by an increase of 100,000 tons from that (1,430,000 tons) in 2010 but, owing to an expansion of nickel production, the world supply of primary nickel in 2011 will have an excess of 80,000 tons.

However, INSG said that this output of primary nickel in 2011 has excluded the negative factors, which are a reduction of nickel production to be caused by strike as seen at Vale in 2009 to 2010 or a start-up of new nickel project is out of order, and so on.

For a reference, the quantities of primary nickel produced and consumed in the world in 2009 were <> production : 1,350,000 tons, <> consumption : 1,240,000 tons and <> balance : an oversupply of 110,000 tons.
last modified : Fri 15 Oct, 2010 [10:02]
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