Sumitomo Metal Mining foresees nickel supply shortage of 108,000 tons in 2022
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Update time : 2022-10-19 17:18:19
Sumitomo Metal Mining, the largest nickel producer in Japan, estimated that the global nickel supply shortage will expand to 108,000 tons this year, higher than the expected shortage of 68,000 tons earlier this year, the second consecutive year of the short supply. The shortage was due to the supply lower than originally expected.
According to Sumitomo Metal Mining, the global nickel supply shortage was expected to shrink to 63,000 tons in 2023.
The nickel supply was estimated to go up by 9% year on year to 3.075 million tons next year; however, the demand was expected to hike by 7.1% year on year to 3.138 million tons due to the recovery of demand for stainless steel and the further growth in demand for batteries next year.
