Page 670 - ANC20-Proceedings-Presentations-Full
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Short-term demand driven by stainless steel
▪ More than two thirds of current
nickel demand is from
stainless steel use
▪ A demand shock due to
COVID-19 resulted in the
market reverting to surplus for
most of 2020
▪ Stainless steel production now
recovering has seen the nickel
price increase ~15% since
mid-2020
▪ Some recent softness due to
softening stainless steel
however the longer-term
outlook remains bullish
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