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Characteristics of Nickel

  • Nickel finds its usage in various industries such as engineering, electrical and electronics, infrastructure, automobile and automobile components, packaging, Batteries etc.
  • Among base metals Nickel is the most volatile owing to its strong demand and tight supply.
  • Nickel demand is derived demand based on the growth of different industrial sector thus exhibits high volatility.
  • About 65 per cent of nickel is used in manufacture of stainless steels, and 20 per cent in other steel and non-ferrous including "super" alloys, often for highly specialized industrial, aerospace and military applications.

Characteristics of World Nickel Market

  • Nickel world market is characterized by rising demand and constrained supply.
  • More than 54% if world total supply comes from only five companies.
  • Global nickel consumption is growing by an average 3.1 per cent a year.

Supply and Demand

  • Major producers of Nickel are Russia, followed by Australia, Canada, New Caledonia and Indonesia, which represents over 65% of total world production.
  • World primary nickel consumption is about 1 million tons. Consumption centers are Japan 2 lakh tons and European Union 3.74 lakh tons.
  • Rapid expansion of global stainless steel production is fuelling demand for primary nickel.

World Nickel Markets

  • London Metal Exchange.

India Scenario

  • Nickel market in India is of total import dependent.
  • India imports around 30,000 tons of Nickel.
  • Import duty on Nickel is 15%.
  • With growth in the stainless steel sector Nickel import demand is expected to increase in the coming years.

India in World Nickel Industry

India meets its Nickel Requirement through import.

Frequency Distribution of Nickel at LME

Percentage Change> 52-5 %2%
Percentage Terms2.121.976.1

Factor influencing demand and supply

  • Above ground supply from scrap.
  • New mines discovery.
  • Nickel demand is derived demand thus the situation in the various industries.
  • Growth in consumption of Stainless steel.

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