20
Oct
10:25
Sumitomo Metal anticipates lesser nickel market deficit
Japan-based Sumitomo Metal Mining on Tuesday anticipated a third straight year of deficit in global nickel market. The deficit in 2023 however is likely to narrow to 63,000 tonnes from the 2022 forecast of 108,000t, Kallanish notes.
The drop in predicted shortage is because low-grade nickel pig iron output in Indonesia is estimated to grow by 4.5% on-year to 960,000t.
Specifically, global supply and demand of nickel next year is expected by Sumitomo Metal to be …
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