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|INSG Anticipates Nickel Production in 2015 -16 to Continue Declining|
|= Consumption shows upward trend, and supply will become tight in 2016 =|
The regular meeting of International Nickel Study Group (INSG) was held during 5th to 6th of October in Lisbon, Portugal.|
In then lecture presentation, INSG made a report of the world nickel production volumes as the primary product such as 1.994 million tons in the calendar year 2014 and made a forecast of the production volumes such as 1.954 million tons in the calendar year 2015 and 1.942 million tons in the calendar year 2016.
On the other hand, the consumption was 1.863 million tons in the calendar year 2014, and is forecast to be 1.905 million tons in the calendar year 2015 and 1.965 million tons in the calendar year 2016.
Figures reported as to the production and consumption are as shown in the table below, and the nickel production from 2015 to 2016 will continue to be down from the prior year, whereas the consumption will show an upward trend and the demand and supply balance is forecast to be in a state of tight supply in the calendar year 2016.
Besides, when compared with the forecast announced last time (April 2015), the production volume in 2015 will be slightly down and the consumption slightly up.
This is because INSG's analysis is (1) Nickel consumption during 2015 to 2016 in China as the biggest consuming country is anticipated to be up, (2) As the antidumping duty is imposed on Chinese and Taiwanese cold-rolled stainless steel plates in Europe, the recovery of the profits is expected to be made for the producers in Europe, (3) As Indonesia enforced the export ban on nickel ore in January 2014, while China switched low-grade ores to Philippine ores, China increased import of nickel pig iron (NPI) from Indonesia and (4) However, a part of NPI production is behind schedule.
For a reference, the next general meeting will be held in Lisbon, Portugal during 25th to 26th of April 2016.
|last modified : Thu 15 Oct, 2015 [09:42]|