Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

Nickel demand exceeded supply by around 100,000 mt in 2016: Glencore

Oil | Crude Oil | Oil Risk | Shipping | Marine Fuels | Tankers

Saudi shut-in after attacks, and an exploding scrubber: just another week in oil

Platts Market Data – Natural Gas

Commodities | Metals | Non-Ferrous | Aerospace & Defense | Autos & Capital Goods | Materials | Building & Construction | Transportation

Aluminum Symposium 2020


Indian steel mills hope to invest in upcoming Saudi Arabian steel, iron ore projects

Nickel demand exceeded supply by around 100,000 mt in 2016: Glencore

London — Global nickel consumption exceeded supply by around 100,000 mt in 2016, Glencore said Thursday in its preliminary annual results statement.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"Nickel supply continued to fall in 2016 with further shutdowns (BCL, Tati, Votorantim, Mirabella), and lower nickel unit exports (in ore) from the Philippines all driving a fall in projected nickel output to approximately 1.95 million mt of nickel, down 2% versus 2015," the Switzerland-based commodities group said.

"Overall we estimate primary nickel demand in 2016 of 2.05 million mt," representing an increase of around 8% versus 2015, the company added.

"Consequently the market entered its first material deficit since 2010 enabling global inventories to fall by around 100,000 tonnes," Glencore said.

"Whilst inventories remain elevated, the outlook is for continued deficits and further draws in primary nickel inventories as demand remains strong," the company said, adding that supply increases relate to Indonesia exporting more nickel units in nickel pig iron, "with production elsewhere continuing to flat-line or even fall."

London Metal Exchange nickel stocks currently stand at 381,720 mt, down from 435,396 mt 12 months ago.

"Despite a weak January and February 2016, global stainless steel production expanded materially in 2016, led by double-digit demand growth in China. Furthermore, we saw a continued shift to austenitic grades in Europe, India and the US which supported nickel demand growth," the company said.

Glencore estimated global stainless steel production in 2016 at over 45 million mt, up over 7% from the prior year, including over 24 million mt from China, with global 300S austenitic production totaling over 25 million mt -- a 10% increase from 2015.

"Developments in non-stainless remain mixed, with special steel producers reporting challenging conditions primarily due to continued oil and gas weakness, whilst demand from the critical alloys industry and battery sector remains robust," the company added.

Glencore's marketing operations sold 221,000 mt of nickel last year, down 4% from 231,000 mt in 2015.

--Andy Blamey,

--Edited by Jeremy Lovell,