Nickel finds its usage in various industries such as engineering, electrical and electronics, infrastructure, automobile and automobile components, packaging, Batteries etc.
Among base metals Nickel is the most volatile owing to its strong demand and tight supply.
Nickel demand is derived demand based on the growth of different industrial sector thus exhibits high volatility.
About 65 per cent of nickel is used in manufacture of stainless steels, and 20 per cent in other steel and non-ferrous including "super" alloys, often for highly specialized industrial, aerospace and military applications.
Characteristics of World Nickel Market
Nickel world market is characterized by rising demand and constrained supply.
More than 54% if world total supply comes from only five companies.
Global nickel consumption is growing by an average 3.1 per cent a year.
Supply and Demand
Major producers of Nickel are Russia, followed by Australia, Canada, New Caledonia and Indonesia, which represents over 65% of total world production.
World primary nickel consumption is about 1 million tons. Consumption centers are Japan 2 lakh tons and European Union 3.74 lakh tons.
Rapid expansion of global stainless steel production is fuelling demand for primary nickel.
Important World Nickel Markets
London Metal Exchange.
Influencing Nickel Markets
Above ground supply from scrap.
New mines discovery.
Nickel demand is derived demand thus the situation in the various industries.
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