Global nickel usage surged by an extraordinary 16.2% last year on the back of booming demand from both the dominant stainless steel and fast-growing battery end-use sectors. The result was a supply shortfall of 168,000 tonnes, the largest production deficit in at least a decade, according to the International Nickel Study Group’s latest statistical snapshot .
World stainless steel melt shop production rose 10.6% year on year in 2021 to 56.3 million mt, according to figures released March 14 by International Stainless Steel Forum. Output was up in all regions monitored by the ISSF, with Asia, outside of China and South Korea, showing the largest climb of 21.2% year on year .
London Metal Exchange (LME) nickel stocks have been falling relentlessly since April of this year. Exchange inventory has slumped to 110,688 tonnes from 264,606 tonnes over the last six months with almost half of what is left canceled in preparation for physical load-out. LME time-spreads have been tight since the middle of October. The cash .