Nickel supply expected to boom this year
May 26, 2022
Global nickel usage surged by an extraordinary 16.2% in 2021 on the back of booming demand from both the stainless steel and battery end-use sectors. International Nickel Study Group (INSG) expects nickel usage to grow another 8.6 % this year, exceeding the 3.0 million tonne mark for the first time ever. Moreover, INSG is expecting a larger rate of expansion on the supply side. It is forecasting a massive 18.2% jump in global production.