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Nickel February 08, 2021 10:30:52 PM

Australia to Emerge as the World's Largest Nickel Supplier

Paul Ploumis
ScrapMonster Author
The greenfield and brownfield nickel projects currently under development in Australia will contribute to new mined supply in a big way.

Australia to Emerge as the World's Largest Nickel Supplier

SEATTLE (Scrap Monster): The leading commodity research and analysis firm Roskill released a new report outlining future prospects of world nickel market. The global demand for the metal is forecast to surge higher by 2.6 million tonnes by 2040. Also, Australia will account for nearly one-fourth of the world’s total nickel supply by that time.

According to the report, the electronic vehicle demand will turn out to be the single largest driver for nickel demand over the next 20 years.

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The greenfield and brownfield nickel projects currently under development in Australia will contribute to new mined supply in a big way. Although China is expected to remain as the largest producer of nickel sulphate, Australia is expected to overtake Japan and Taiwan as the second largest nickel sulphate producer in the near-term. However, Japan could return to second place by 2040. Roskill noted that availability of suitable feedstock appears to be the major bottleneck to nickel sulphite supply.

The report foresees production of refined materials from nickel to outweigh mine production over the coming years. The market will witness supply deficit in 2027, which is expected to remain for the rest of the forecast period. It must be noted that global nickel demand had touched 92,000 tonnes during the previous year.

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