Market Analysis - Demand of Nickel

Market analysis – Global demand of Nickel

In 2010, 1.35Mt of nickel was consumed.

Global nickel markets grew at 2.1% per annum between 2001 and 2010. Backed by a strongly expanding Chinese market.

Figure 1. Global Nickel ore production by year (top panel) and comparison by country (bottom panel) (http://www.insg.org/presents/Mr_Tollin_Nov09.pdf)

Figure 2. Overview of global primary nickel consumption by year (top panel) and comparison by country and year (bottom panel) (http://www.insg.org/presents/Mr_Tollin_Nov09.pdf)

Figure 3. Detailed overview of global primary nickel consumption from 2000 to 2010 by countries (http://www.insg.org/presents/Mr_Jahangir_Oct10.pdf)

Figure 4. Plot of global nickel production (pink line) and global nickel consumption (blue line) by year. Bar graph shows difference in production and consumption (green bars = deficit and white bars = surplus). Unit in 1000 tones. (http://www.insg.org/presents/Mr_Tollin_Nov09.pdf)

Table of global primary nickel production, 2007 to 2010 by the different continents

Table of global primary nickel consumption, 2007 to 2010 by the different continents

Usage of Nickel

Nickel is used in a wide spectrum of products, ranging from industrial usage to consumer products.

* Stainless steel

* Batteries

* Alloys and superalloys

* Electroplating

* Coinage

The use of nickel in these applications provides an added value in terms of their mechanical and physical properties, owing to the nature of nickel itself. Primary nickel is very resistant to corrosion as well as high temperatures.

In stainless steel, nickel is added to steel to add to its durability while also making it resistant to corrosion.

The stainless steel industry is now the single largest consumer of primary nickel today, accounting for 60% of the global nickel usage (figure 5) showing a larger increase in its usage compared to non-stainless steel application over the years.

Figure 5. Breakdown of...