Nornickel expects global nickel market to maintain surplus in 2021

摘要

London—The global nickel market is likely to remain in surplus as rising production is expected to meet the growing demand, Russian nickel, copper and platinum group metals producer Nornickel said Feb. 18. The company expects the market to remain in surplus of just over 90,000 mt this year as demand recovery will be supported by stronger performances in the Indonesian stainless and battery sectors. Quick ramp-up to capacities of the new Indonesian NPI facilities will push the world supply up 8% on the year to 2.7 million mt in 2021. Indonesia's aggregate nickel production is set to touch 900,000 mt this year, which is 33.5% of the anticipated world's total, offseting the decline in China's NPI production.