By 2020, global nickel mine production is forecast to reach 2.2Mt, supported by upcoming stainless steel projects and demand from Nickel Pig Iron plants in Indonesia, Says the New Study on ASDReports

Friday 12 December 2014, Amsterdam

$ The new report now available on ASDReports, comprehensively covers historical and forecast data on global nickel mine production and consumption to 2020, and reserves - also by country - and trade. The report also includes drivers and restraints affecting the global nickel mining industry, profiles of major nickel mining companies, and information on the major active, exploration and development projects by region.

The difference

• Gain an understanding of the global nickel mining industry; the relevant drivers and restraining factors to better position your business for future growth
• Historical data, forecast production and consumption along with trade and the competitive landscape gaining the upper hand over competitors
• Understand the key market trends and growth opportunities within global nickel mining industry to drive your business forward

Additional report highlights
Nickel plays a vital role in the production of stainless steel and 73% of stainless steel produced globally in 2013 originated in Asia, primarily in China, Japan and India followed by the European Union which produced 19% and the Americas with a 6% share.

Mine production in 2013 was 2.3 metric tonnes (Mt), up by over 5% over 2012 with Indonesia being the largest producer, followed by the Philippines and Russia. The global nickel mining industry in 2013 was characterized by a situation of oversupply, especially as new facilities commenced production in New Caledonia, Brazil, Madagascar and Myanmar. However, with Indonesian supplies coming to a halt in the beginning of 2014, the prospects have brightened. Earlier until 2007, global nickel mine production had grown strongly with nickel prices reaching a high of US$50,000 per tonne. That was followed by a sharp dip in prices at the end of 2008 to US$10,000 per tonne on account of the global financial crisis, before prices appreciated again in 2010-2011 due to an improving global economy, led by China which remains the major consumer of nickel.

The year 2014 saw a reversal in fortune as prices firmed up due to a halt in supply from Indonesia, which had a share of around 17.7% of global mine production and political tensions between the West and Russia over Ukraine. However, there are still large global inventories and expansion of mine production in the Philippines is likely to further add to global stocks.