https://www.miningweekly.com
Financial|Services|Stainless Steel|Steel
Financial|Services|Stainless Steel|Steel
financial|services|stainless-steel|steel

Nickel supply to drop by 2025 – Macquarie

Nickel ore being loaded at a mine in Indonesia

Nickel ore being loaded at a mine in Indonesia

6th October 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Global financial services provider Macquarie Group has called for investment into the nickel sector, despite an anticipated oversupply in the near-term.

Speaking at the Paydirt Nickel conference, in Perth, Macquarie consultant Jim Lennon said that immediate investment in the nickel sector would be required to meet the potential "explosive" demand post 2025.

“Covid-19 has obviously had a negative impact on the supply/demand fundamentals for nickel, with the market shifting from a deficit to a surplus, and these conditions could last for a few years,” Lennon said.

The Covid-19 pandemic resulted in a sharp decline in primary nickel consumption, while the first quarter of the year also saw a decline in nickel production, which Lennon said was likely owing to Covid-related disruptions in Madagascar and the Philippines.

In the first seven months of 2020, a surplus of 90 000 t was recorded, with a surplus of 135 000 t was predicted for the full year, compared with a deficit of 35 000 t in 2019.

Lennon pointed out that world nickel use was expected to fall by 7.3% in 2020.

“The market is likely to get back into balance by 2024, and will move to a deficit by 2025,” Lennon told delegates.

He pointed out that in the medium-term, the pace of growth of the stainless steel market, and the pace of uptake of nickel in the lithium battery market would determine nickel demand.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.1 0.138s - 113pq - 2rq
Subscribe Now