Global nickel market surplus to widen in 2024 The surplus in the global nickel market is expected to widen to 239,000 metric tons in 2024 from 223,000 tons this year, the International Nickel Study Group (INSG) said on Tuesday, signalling further pressure on the metal.
Prices for nickel on the London Metal Exchange are down 38% so far this year.
Global demand for nickel is expected to increase to 3.47 million tons in 2024 ... It expects global output to increase to 3.71 million tons in 2024
Ergo, widening surplus for this year. As if 2023 wasn't hard enough on the nickel market. Small wonder the big guys are laying off people and mothballing their operations. They can't compete.
https://www.reuters.com/article/idUSKBN3131HU/