Global nickel demand to increase to 3.02 mln tonnes in 2022 -INSG
Global demand for nickel is expected to increase to 3.02 million tonnes in 2022 from 2.78 million tonnes in 2021, the International Nickel Study Group (INSG) said on Wednesday.
Global output of nickel is forecast to rise to 3.08 million tonnes in 2022 from 2.61 million tonnes last year, mainly due to expected increases in Indonesia and China, the INSG added.
The implicit nickel market balance is a deficit of 168,000 tonnes in 2021 and a surplus of 67,000 tonnes in 2022, the Lisbon-based group said.
Source: Reuters (Reporting by Eileen Soreng and Bharat Govind Gautam in Bengaluru; Editing by Andrew Heavens)