Nickel oversupply to persist on expansion, slower demand growth, industry experts say
Oversupply in the global nickel market is expected to persist over the next few years given production capacity expansion and slower growth in demand for the metal used in batteries and stainless steel, speakers at an industry event said this week. A surge in new nickel supply in Indonesia, the world's biggest producer with a market share of about 63%, has led to benchmark prices halving over the past three years.
Oversupply in the global nickel market is expected to persist over the next few years given production capacity expansion and slower growth in demand for the metal used in batteries and stainless steel, speakers at an industry event said this week. A surge in new nickel supply in Indonesia, the world's biggest producer with a market share of about 63%, has led to benchmark prices halving over the past three years.
