Supply: Timing of new production remains uncertain

摘要

Primary refined nickel production is forecast to rise by over 6% this year. In the first half of the year production growth has been relatively strong, mainly due to the ramp-up of production at new plants and a return to normal production at a number of facilities outside of China, which encountered production disruptions in the same period of 2011. Indeed, world production ex-China is estimated to have risen by nearly 15%, y-o-y in HI. In contrast, production curtailments at NPI plants undermined Chinese production which is estimated to have decreased by 4% in H1.