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Home / Metal News / Global nickel deficit to shrink in 2020 despite higher demand, Indonesia export ban

Global nickel deficit to shrink in 2020 despite higher demand, Indonesia export ban

Nov 20, 2019 12:00

Source:SMM

Russia’s Nornickel said global nickel supply deficit may narrow from 67,000 mt at end 2019 to 28,000 mt in 2020

SHANGHAI, Nov 20 (SMM) – Global demand for nickel will increase by 5% in 2020, accelerating from a 4% rise in 2019 on the back of an expected boom in consumption of batteries that power electric vehicles, said Russia’s Nornickel, the world's leading producer of nickel and palladium.

Nickel supply deficit, meanwhile, may narrow from 67,000 mt at the end of 2019 to 28,000 mt in 2020, Nornickel estimated, despite the implementation of Indonesia’s ore export ban.

Nickel pig iron production ramp-ups, greater nickel ore from the Philippines, and frontloading of Indonesian mineral exports in the fourth quarter are expected to make up for a reduction of 270,000 mt in nickel supply caused by Indonesian export ban in 2020.

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