Nickel shortage likely as prices stay below incentive levels, Sherritt says

Nickel is expected to go into shortage in the coming years because current market prices are below the incentive levels needed to spur the development of new projects, according to Canadian producer Sherritt International.

But before the market reaches this stage, the consenus is that the commodity will face a surplus, given the current substantial increase in nickel pig iron output, the company said.
"This [increase in pig iron output] is putting additional pressure on producers of lower-grade material such as ferronickel, which is currently selling at a significant discount," Sherritt said on Wednesday July 29.
The global refined nickel market was in a 57,300-tonne surplus in the first five months of 2020, according to the latest figures from the International Nickel Study Group (INSG).

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