According to the latest monthly bulletin of Lisbon-based International Nickel Study Group (INSG), world primary refined nickel production which was 1.44 million mt in 2010 is anticipated to increase to 1.60 million mt in 2011.
INSG forecast that global nickel production in 2012 could reach 1.74 million mt. World primary nickel consumption was 1.48 million mt in 2010, and could increase to 1.57 million mt in 2011, while for 2012 an increase to around 1.67 million mt is expected, INSG said.
The report shows that 2011 started well with high production of stainless steel and good demand for primary nickel as well as recycled nickel products such as stainless steel scrap. However, the second half of the year is encountering modest growth.