While many expected the nickel price to continue to rise in 2015 on the back of Indonesia’s ban on unprocessed ore exports, it ultimately fell from $14,767 to $9,895 by September 2015. Overall, global nickel production increased slightly in 2015 compared to the previous year (2,450,000 tonnes vs. 2,530,000 tonnes). And as mentioned above, the nickel price declined in 2015, according to the US Geological Survey (USGS). Decreased prices were attributed to declining growth rates for global production of authenticate stainless steal and commissioning of nickel refineries in Madagascar and Canada. Insidermonkey experts made a list of the countries that produce the most nickel in the world.
The rampup of production at ferronickel smelters in Brazil and New Caledonia also played a role. Despite weak prices and oversupply of nickel, companies continue to bring on new mining and processing projects in anticipation of a turnaround in the global economy. The Philippines saw an increase in its nickel production from 2014, producing 530,000 tonnes last year. In 2015, the Philippines was the largest exporter of DSO in the world. The country took advantage of Indonesia’s export ban and stepped in to distribute to China in 2014 with the Philippines’ nickel exports to China increasing by 24 percent in the first 10 months of the year, according to Bloomberg. You can also consider reading the list of 8 countries that produce the most crude oil in the world.
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