According to the statistics from the International Nickel Study Group, the global nickel consumption totaled 699,000 tonnes in the first half of 2010, up by 21.9% YoY.

Additionally, ISSF also expects the annual output of stainless steel in 2010 will increase by 11% to 12% and the nickel price will reach to USD 25,000 to USD 26,000 per tonne in the fourth quarter on average.

Sumitomo Metals in Japan estimated that the nickel supply would probably be in a shortage of 40,000 tons in 2010. It will be the first time to appear shortage of nickel in the market since 2006.

(Sourced from YIEH.corp)