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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.
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| 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.
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| 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.
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| Important World Nickel Markets |
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| Indian Nickel Market |
- 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.
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| India in World Nickel Industry |
- India meets its Nickel Requirement through import.
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| Frequency Distribution of Nickel at LME |
| Percentage Change | > 5 | 2 - 5 % | 2 % | | Percentage terms | 2.1 | 21.9 | 76.1 | |
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| Factors Influencing Nickel Markets |
- 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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