Steel News

We strive to let you one step ahead of the market.

Nornickel raises nickel surplus forecast in 2023

2 Jun 2023 14:50 reported by Joy Liu

A A A
Norilsk Nickel (Nornickel), a Russian nickel and palladium mining and smelting company, predicted that the global nickel market will have a surplus of more than 200,000 tons this year, higher than its February estimate of 122,000 tons.

Indonesia’s stainless steel production was lower than expected, the consumption of nickel in the battery industry decreased sector, and nickel pig iron production in Indonesia and capacity in China and Indonesia both increased, so Nornickel raised its oversupply forecast of nickel.

In addition, the surplus was expected to surpass 180,000 tons in 2024, most of which will still be low-grade nickel.

Back to Steel News

Related News

Iron ore rebounds on Jun 13 as China's steel prices stabilize amid positive macroeconomic factors

  • Raw material
  • 14 Jun 2024 17:16

BHP Group reaches preliminary wage agreement with Chilean Union to avoid strike

  • Raw material
  • 14 Jun 2024 15:28

New Caledonia's nickel industry paralyzes after riot

  • Raw material
  • 14 Jun 2024 15:14

Canada designates high-purity iron as critical mineral

  • Raw material
  • 13 Jun 2024 16:56

EU acknowledges Indonesia's right to ban nickel ore exports

  • Raw material
  • 13 Jun 2024 15:01

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,808.00
  • 2,861.50
  • Aluminum
  • 2,496.00
  • 2,557.00
  • Copper
  • 9,732.00
  • 9,859.00
  • Nickel
  • 17,525.00
  • 17,775.00

Learn more

Coil Exchange Center

  • 2B Coil-Jul
  • 0
  • 0
  • NO1 Coil-Jul
  • 0
  • 0
  • 2B Coil-Jul
  • 0
  • 0
  • NO1 Coil-Jul
  • 0
  • 0

Learn more