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Gold/Mining/Energy : Mining News of Note
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To: LoneClone who wrote (166352)7/19/2022 1:48:51 PM
From: LoneClone  Read Replies (1) of 192593
 
INSG: Global nickel supply to rise by 18.2% in 2022, driven by increased capacity in Indonesia 14 Jul 2022

yieh.com

14:20 reported by Joy Liu

According to a report from the International Nickel Study Group (INSG), global nickel consumption rose by 16.2% last year, boosted by the stainless steel industry and the fast-growing battery industry. However, the nickel supply had a shortage of 168,000 tons, the largest supply-demand gap in at least a decade.

INSG expected that the consumption this year will rise another 8.6%, surpassing 3 million tons for the first time in history.

With the increased capacity in Indonesia, the global nickel supply was estimated to grow by 18.2%. There will be a surplus of approximately 67,000 tons this year, while it is still uncertain whether the oversupply will affect nickel prices.
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