“At the same time, First Quantum Minerals aims to switch Ravensthorpe back on, having placed it on care and maintenance in 2017. 2 hours After A Difficult 2020 For Oil, Could It Bounce Back In 2021? Roskill is also expecting demand to recover in 2021, with economic growth expected to bounce back as well. The ratification of anti-dumping duties on imported stainless HRC from China, Taiwan and Indonesia would aid this rebound. New Delhi, Dec 9 (PTI) Nickel prices rose 0.4 per cent to Rs 1,234.60 per kg in futures trade on Wednesday, as speculators built fresh positions on rising demand from alloy makers in the spot market. Nickel prices remain at their recent highs helped by news that covid-vaccines are near at hand. Following a year of excess supply, Roskill forecasts that the market will remain in surplus in 2021, although it is expected to be significantly smaller than the surplus anticipated in 2020. And while this constitutes an increase from the current $14,000-per-tonne level, it is a far cry from the 2019 high of more than $18,000 per tonne. to make headway in a market where Tsingshan is now struggling to make further SINGAPORE, Oct 25 (Reuters) - Copper prices fell on Friday, as investors … As of December 29, the nickel spot price was USD 7.69, up from USD 7.28 last month. It's Tuesday. Future nickel production is dominated by Indonesian NPI and a strong ramp up in nickel … The improvement will come on the back of a very poor 2020. In 2021, nickel use in precursors for batteries is forecast to increase by about 11 percent, which looks very strong, but amounts only to 20,000 tonnes, according to Woodmac data. Conversion Nickel Price Price; 1 Ton = 1,000 Kilograms Nickel Price Per 1 Kilogram 16.54 USD stainless flat products (FPs) – slab and hot rolled coil (HRC) – Delong will We have limited the number of investor kits you can request to 20. Other signals also point upwards: Chinese NPI... 30 October 2020. “But one saving grace and potential advantage for some of the juniors could come from the opportunity through positive environmental, social and governance (ESG) credentials that their projects may offer. Philippines will be sustained at around 30 Mt. Global Nickel Based Alloys Tube Market 2020 (status and outlook) Latest Report on Nickel Based Alloys Tube Market Forecast 2026- Covid-19 Update. PDF 2.20 MB. And remember you can unsubscribe at any time. Conversely, Chinese refined nickel production is forecast to fall from this year’s 785,000 tonnes to 635,000 tonnes in 2021 as NPI production falls. “This was combined with raw material shortage concerns following the Indonesian ore export ban (implemented at the beginning of the year), with disruptions to ore supply from the Philippines caused by COVID-19 suspensions and adverse weather.”. Fast forward to the summer of 2019, and rumors had begun to swirl that Indonesia was planning to move the ban ahead to 2020. The latest report on Nickel Based Alloys Tube Market provides a comprehensive assessment of the Nickel Based Alloys Tube world market sorting by application, type and region. In the longer term, Fitch analysts maintain nickel prices will remain on a gradual uptrend over 2020-2022, as the global market remains in a deficit during that period. In the longer term, Fitch analysts maintain nickel prices will remain on a gradual uptrend over 2020-2022, as the global market remains in a deficit during that period. This One of the more significant challenges will be faced by Class II producers selling product into China, according to Woodmac’s Gardner. “The investigation by the European Commission is due to finish in Q2 2020. What will Joe Biden’s presidency mean for Africa? As supply dwindles and demand grows in the long term, many analysts and companies expect nickel’s price to increase — but the timeline of this growth is the real question. prove inconsequential.”. 50 kt through the first half of 2020 before declining to 30 kt as ore supply The impact will extend well into 2020. At least for several months, a supply surplus may still outstrip recovering demand. “I think we could see prices hovering between US$16,500 to US$17,500 on a quarterly average basis throughout next year ― going higher on a day-to-day basis if the COVID-19 vaccines appear to work and people/businesses regain confidence,” Woodmac’s Gardner said. a challenge. becomes tighter. “Looking ahead, we believe that nickel demand from the battery sector will accelerate next year, stimulated by EV-focused policies introduced as part of ‘green’ recovery plans in Europe, strengthening demand from the EV industry in China and the changing political landscape in the US,” he said. You can find out more and withdraw your consent at any time. Raw material sales prices sharply down overall: 26% for manganese ore and -17% for ferronickel; conversely, very strong growth in the price of nickel ore (+35%). However, in 2021, Woodmac is forecasting that nickel demand will strongly recover by between 9 and 10 percent to reach 2.5 million tonnes. © All content copyright 1997 - 2020 Spintelligent (PTY) Ltd,unless specified otherwise. shops in Indonesia Tsingshan Indonesia and Delong Obsidian. Despite the uncertainty brought by the coronavirus pandemic, nickel rebounded sharply this year from Q1 lows seen after COVID-19-related lockdown measures. Nickel started the year trading at US$14,070 per tonne, but plummeted to US$11,055 by March, when markets started to feel the impact of coronavirus containment measures and lockdowns. However, there is a suggestion that if LP semis sent to China for rolling are then re-exported – and are not for sale in the Chinese market – they would not be subject to duties. Perseus Mining pours first gold at Yaouré ahead of schedule, Kodal Minerals acquires Fatou gold project, AngloGold Ashanti completes sale of entire interests of Sadiola Mine, Natural graphite production expected to grow by 7.6% in 2021, Top legal issues for the South African mining sector in 2021, HPAL – plants come and go while delays mount in Indonesia, Chinese nickel pig iron (NPI) stutters as Indonesian NPI expands rapidly, Indonesian stainless output stalls… and may even fall, European stainless rebounds as imports from Asia are warned off. ... January Price Outlook… Nickel price news. In comparison, in February 2016, the price of nickel was just 8,299 U.S. dollars per metric ton. “Greater challenges may await the three new HPAL plants in Indonesia that are scheduled to enter production in 2021,” says Mitchell. It's Tuesday. The Philippines and Russia took the second and third spots, while China came in seventh. Wood Mackenzie does not expect the ramp up to 3 Mtpa to be viable in 2020. demand for nickel chemicals was exaggerated last year and that growth will be further 10 lines by 2021, and VDNi’s longer-term plan to build 35 more lines, “However, news of the COVID-19 vaccine and the resulting economic recovery, the introduction of further stimulus measures aimed at ‘green’ industries and concerns about long-term nickel supply could help support prices in 2021,” he said. because of the penalties against imports from Indonesia, while Tsingshan has “We continue to see midstream/downstream commitments in the battery supply; however, the COVID-19 pandemic has had a particularly negative effect on the upstream side of the industry, where capital commitments for new projects have been reined in.”. Nickel Industry - Geographical Spread 5. then possible capability by the end of 2020 could be 660-800 ktpa, depending on What’s in store for nickel in 2021? “For now, we maintain our outlook for 22 kt nickel production at Vale’s VNC HPAL (high pressure acid leach) operation in New Caledonia in 2020. Fastmarkets’ analysts forecast an average London Metal Exchange nickel cash price of $16,375 per tonne in 2020, an increase of 20.4% from a forecast average price of $13,603 per tonne this year. Fastmarkets research forecast a $16,000-per-tonne base case for the LME three-month nickel price going into the first quarter of 2020. The second quarter saw the metal start a sharp rebound that ultimately led to its highest point year-to-date: US$17,650 on December 15. In comparison, in February 2016, the price of nickel was just 8,299 U.S. dollars per metric ton. “For now, we maintain our outlook for 22 kt nickel production at Vale’s VNC HPAL (high pressure acid leach) operation in New Caledonia in 2020. We currently anticipate output of 500-520 kt nickel in Indonesia is staggering. What are the biggest trends to watch in the global nickel market in 2020? Market Drivers 6. Average price of LME traded cash nickel so far this month - $7.87/lb; LME nickel chart - here / Euro/US Dollar chart - here Reports stainless exports could fall by a further 250 kt, having already declined by an This, in combination with weakening demand, led to European stainless melt output decreasing by 8% in 2019. “We attribute this rise to a recovery in Chinese stainless steel demand tied to an economic recovery,” he told INN. CTRL + SPACE for auto-complete. 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It is anticipated that the global nickel consumption will grow at a CAGR of around 11% during 2015-2020. MOU signed to explore synergies for Bougouni lithium project, Claim to arbitration against Government of Tanzania continues, Kamoa-Kakula less than six months away from production. This site uses cookies which are essential to make the site function effectively. will decrease sharply. 3. Seeking Alpha 2 hours 2021 Oil Price Outlook: A Moderate Boost To Demand Could Reassure Prices Seeking Alpha 2 hours Denison Mines Looks Overvalued Seeking Alpha 2 hours 3 Investing Lessons From 2020 … … export ban will mean that, once ore stocks are depleted, Chinese NPI production “Despite the decline in Chinese domestic NPI production, output of NPI production from Indonesia will be significant such that it can export NPI to China at a lower production cost than Chinese-owned NPI production (based on ore imports from the Philippines) and imported ferronickel,” he added. Fastmarkets’ analysts forecast an average London Metal Exchange nickel cash price of $16,375 per tonne in 2020, an increase of 20.4% from a forecast average price of $13,603 per tonne this year. Don’t forget to follow us @INN_Resource for real-time news updates! the NPI grade. Tsingshan was widely expected to reach nominal capacity of 3 Mtpa in 2019 but the anti-dumping duty against Indonesian imports closed the door to China, leaving it with more product than it could place in Southeast Asian markets and limiting production at 2.2 Mtpa. restricted to only 3-4% in 2020.”. One benefit of this option is that Obsidian would not compete directly with Tsingshan and Delong has already added LP rolling capacity in China. Even so, 2020 saw investor speculation jump on hopes of increased demand from the battery sector. available in the  country, we believe achievable nickel-in-NPI production Despite all the opportunities on the horizon for the nickel market, there are some challenges the industry could face as 2021 begins. Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. Beyond a short commissioning period, from supply and demand dynamics to price predictions back as well the matter that... Due diligence a quiet 2019, the nickel market in 2020, nickel consumption will grow a. Investigation by the European Commission is due to finish in Q2 2020 by Class II selling... Network does not expect the ramp up to 3 Mtpa to be viable in 2020 prices have dropped since. Delong Obsidian immediate mid-year downgrading in Beijing ’ s current oversupply in stainless, which precipitating. 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