REUTERS/Yusuf Ahmad/File Photo - RC2DGT9XQ73M Acquire Licensing RightsLONDON, Oct 5 (Reuters) - Global nickel production will outpace demand to the tune of 239,000 metric tons next year, according to the International Nickel Study Group (INSG).
The cumulative forecast surplus of 566,000 metric tons over the three years is huge relative to the size of the nickel market.
Global consumption this year is expected to come in at 3.2 million metric tons.
The mining rush fed an 85% jump in production of intermediate products such as nickel pig iron (NPI) and nickel matte and a 20% rise in primary nickel products such as sulphate.
But rising global production is also increasingly about China, which lifted its primary nickel production by 18% year-on-year in January-July.
Persons:
Yusuf Ahmad, it's, Sharon Singleton
Organizations:
REUTERS, Study, Global, London Metal Exchange, Shanghai Futures Exchange, Investor, EV, Macquarie Bank, Traders, London, Reuters, Thomson
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Lisbon, London, Indonesia, China, Shanghai