Proportion of New Electrodeposited Nickel Capacity will be 18.6% in 2023,  and to Grow Further to 27.6% in 2024

SHANGHAI, Feb 17 (SMM) - According to SMM research, in 2023, China's refined nickel production capacity will total 275,100 mt, of which the new electrodeposited nickel capacity will be 51,300 mt, accounting for 18.65% of the toal. In 2024, the new electrodeposited nickel production capacity will be further expanded. It is conservatively estimated that China's total refined nickel production capacity will total 309,100 mt in 2024, of which the new electrodeposited nickel capacity will expand to 85,300 mt, accounting for 27.6% of the total. In addition, there are also new refined nickel projects overseas in 2023. According to SMM research, in 2023, the new global electrodeposited nickel production capacity will account for 8.2% of the total refined nickel production capacity. In 2024, the new global electrodeposited nickel production capacity will account for 10.26% of the total, which is mainly contributed by the production lines in China. From 2023 to 2024, the volume of newly added refined nickel capacities at home and abroad is huge, and the supply and demand of refined nickel will change in the future.