Global nickel production and consumption will grow in 2015 - INSG

Participants in the meeting held last week as part of the International Nickel Research Group (INSG) meeting in Lisbon, Portugal, predict a significant rise in global nickel production and use in 2015.

According to INSG, the improvement in the economic situation around the world has led to an increase in nickel consumption in the first half of this year. A significant increase in nickel consumption during the past period of 2014 was observed in the countries of North America and China. Also, favorable conditions for the nickel market in the European region and Japan are chipping away, which is mainly associated with the production of stainless products.

Indonesia's ban on ore exports affected Chinese nickel iron production. The shortage of nickel ore had a negative impact on the operation of the huge number of new facilities that came on stream during this period. As a result, this has led to a decline in global nickel production. At the same time, exports of nickel ore from the Philippines continue to increase.

INSG predicts a marginal decline in global primary nickel production in 2014, which is likely to reach 1.93 million tonnes this year. It should be noted that production during 2012 and 2013 was 1.75 million tonnes and 1.94 million tonnes, respectively. And the output in 2015 is likely to grow to 1.95 million tons. INSG warns that the forecasts above take into account possible future developments in the nickel market.