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Global Nickel Metals Report Q4 2016

出版商 BMI Research 商品編碼 354631
出版日期 內容資訊 英文 79 Pages
商品交期: 最快1-2個工作天內
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鎳金屬的全球市場分析 Global Nickel Metals Report Q4 2016
出版日期: 2016年10月05日 內容資訊: 英文 79 Pages




  • 供需的緊迫化伴隨的交易價格的反轉預測


  • 大半的企業持續虧損基調


  • 產業趨勢分析



  • BHP Billiton
    • 最新的財務實際成果
  • Norilsk Nickel
    • 企業概要
    • 企業策略
  • Vale
    • 企業概要
    • 企業策略
    • 最新趨勢
    • 企業的詳細資訊
  • Glencore
  • Eramet


  • 附錄
  • 鎳:生產平衡
  • 生產量的預測
  • 消費量的預測


Product Code: 2397-5113

BMI View: We have revised down our nickel price forecasts to reflect a rebalancing of the global market, which will move into surplus from 2017 onwards. We now expect prices to have a muted recovery from USD9,000/tonne in 2016 to USD10,200/tonne by 2020, as the surplus will narrow over the years. Prices will be weaker than we previously expected due to a larger absolute fall in demand compared to the fall in production.

Latest Developments And Structural Trends

Price Forecast

  • Refined nickel prices will remain elevated on a three-month horizon, trading in the USD9,500-10,500/tonne range. This is because of the fear that ore supplies from the Philippines will be severely constrained as mine audits on the basis of environmental regulations is currently ongoing in the country, and will conclude by the end of August 2020. While the nickel market is currently tight due to elevated Chinese imports eroding global stockpiles, investor sentiment towards industrial metals will remain cautious as Chinese economic data will continue to disappoint. By Q416, we expect weakening fundamentals in the nickel market and a stabilisation of the Philippines mine crackdown to start to pull nickel prices towards USD9,500/tonne and below.
  • We revised down our nickel price forecasts from 2017 onwards as our outlook on global consumption trends is now weaker than before, with the global nickel market moving into a surplus from 2017. Supply trends remain unchanged, including our view that the partial relaxation of Indonesia's ore export ban and Indonesian nickel pig iron smelters coming online by 2017 will prevent a supply-crunch in the refined nickel market. We also maintain our view that there will be a price recovery, albeit more muted now, as the surplus from 2017 will narrow over the years to 2020. We forecast an average of USD9,000/tonne and USD9,500/tonne in 2016 and 2017, edging up to USD10,200/tonne by 2020.

Table of Contents

BMI Industry View

  • Table: Global Nickel Forecasts

Price Forecast

  • Global - Nickel: Muted Price Recovery Ahead
    • Table: BMI Nickel Price Forecast
    • Table: Nickel Forecasts

Global Trends In Supply, Demand & Trade

  • Global - Nickel: Global Market To Remain In Deficit
    • Table: Global Nickel Forecasts
    • Table: Nickel Production Forecasts
    • Table: Nickel Consumption Forecasts

Mine Supply: Nickel Ore

  • Global - Nickel: Global Project Pipeline To Drive Growth
    • Table: Global Selected New Nickel Mine Projects

Competitive Landscape

  • Table: Global - Top 10 Nickel Producers By 2014 Output
  • Table: Selected Nickel Companies By Market Capitalisation

Company Profile

  • BHP Billiton - Q4 2016
    • Table: Select Commodities - Price Forecasts
  • Latest Financial Results
    • Table: BHP Billiton - Key Financial Data
  • Norilsk Nickel
    • Table: Select Commodities - Price Forecasts
    • Table: Norilsk Nickel - Key Projects
    • Table: Norilsk Nickel - Key Financial Data
  • Global Company Strategy - Vale - Q4 2016
    • Company Overview
    • Company Strategy
      • Table: Select Companies - Operational Data
      • Table: Vale - Key Financial Data
  • Global Company Strategy - Glencore
    • Table: Selected Commodities - Price Forecasts
  • Company Analysis
    • Table: Glencore - Key Projects
    • Table: Glencore - Key Financial Data
  • Eramet - Q4 2016
    • Table: Eramet Financial Results (2009-2015)

Data Appendix

  • Appendix
    • Nickel: Production Balance
      • Table: Global Nickel Forecasts
    • Production Forecast
      • Table: Nickel Production Forecasts
    • Consumption Forecast
      • Table: Nickel Consumption Forecasts


  • Cross Checks
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