Change time

Forecast nickel deficit decreases

Sumitomo Metal Mining, a leading producer of nickel in Japan has revised its forecast. With regard to nickel deficit in 2016 have been readjusted downward. Of course, the possible reduction in exports of Philippine nickel raw materials. However, even if the government will take such a decision, are the Indonesian supply. Masanori Ohyama, sales manager of the Japanese company suggests that their volumes increase.

This year, nickel production to global demand is expected below 47 000 tonnes. The May forecast predicted a metal deficit of 80 000 tonnes. It is expected that the global nickel production will fall by 5.4%. In numerical terms it will reach 1.867 million. Tons. Demand in this case will increase by 1.1%. It will amount to 1.914 million. Tons in accordance with the data of Sumitomo Metal Mining. As a result, there will be a shortage of the metal to the end of 2016. In the past five years he had his permanent oversupply.

Earlier, the Philippine government has promised closure of some nickel mines. This decision was based on the violation of environmental standards. However, later followed by a statement of representatives of the Ministry of Environment. They reported that the measures taken will probably affect the company Nickel Asia. It is a leading manufacturer of Philippine nickel. The Philippines is considered to be the world’s largest producer of nickel raw materials. The government has suspended the operation of the company Berong Nickel. The pretext for freezing the activities were the violations against environmental laws. It seems to confirm the fears relating to future audits. It is assumed that their initializes Regina Lopez. She was appointed Minister of Environment Protection. Checks will also be directed to the operation of mining companies. It is also possible moratorium on the embodiment of projects aimed at the development of the fields.

The main consumer of Philippine nickel ore is China. However, forecasts Goldman Sachs experts suggest certain losses for the global nickel market for six months. They constitute about 25% of the total amount of nickel ore mining. In May 2016 the volume of Philippine exports of raw materials to China reached 3 million. Tons. The indicator was the record for the last seven months.

See all news