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Nickel


Introduction

  • Nickel is a chemical product with symbol Ni and atomic number 28. It is a silvery white metal with a slight golden tinge.
  • It is hard and ductile metal often mixed with other metals to form stainless steel, as well as a variety of steel metals of varying hardness.

Characteristics

  • Nickel is used in industries areas such as engineering, electrical, & electronics, infrastructure, automobile & automobile components, packaging, batteries etc.
  • Nickel is the most volatile owing to its strong demand & tight supply among all basemetals.

Demand and Supply

  • Around two-thirds of total production is used in the manufacture of stainless and heat resistant steels and a further 20% in non-ferrous alloys and other steels.
  • Overall there are some 3,000 nickel-containing alloys in everyday use.
  • Demand sectors of Nickel include automotive and electronics, where it is a critical component in re-chargeable batteries, as well as in chemical processing and piping.
  • In the past decade world nickel demand increased from 1.104 million tonnes in 2001 to 1.572 million tonnes in 2011, an annual average growth rate of 4.2%. However, the upward trend has had peaks and valleys.
  • Asia is now by far the largest regional market for nickel representing 65% of total world demand.
  • China alone now accounts for close to 44% of world nickel demand compared with 8% ten years earlier.

Global Scenario

  • There is more than 54%, if world total supply comes from only five companies.
  • The consumption of nickel is growing globally by an average 3% a year.

Indian Scenario

  • India Imports around 30,000 tons of Nickel. And the Import duty on nickel is 15%.
  • As the growth in the stainless steel sector will increase, Nickel import demand is expected to increase in coming years.

Factors Influencing the Market

  • New mines discovery and above ground supply from scrap.
  • Nickel demand is derived demand thus the situation in various industries. Growth in consumption of stainless steel.
  • Economic events such as national industrial growth, global financial crisis, recession and inflation affect metal prices.
  • Geopolitical events involving governments or economic paradigms and armed conflict can cause major changes.
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Chemicals