The International Nickel Study Group (INSG) has forecast that the global nickel market will remain in surplus for at least two more years. INSG said on Tuesday that the surplus would reach 209,000 metric tons in 2025, rising to 261,000 tons in 2026, as output growth continues to outpace demand.
“Global demand for nickel is expected to increase to 3.82 million tons in 2026 versus 3.60 million in 2025,” the Lisbon-based group said, noting that production is forecast to grow even faster, from 3.81 million to 4.09 million tons over the same period.
