Nickel mining companies
The leading companies based on nickel production as of 2020 were Tsingshan Group from China, Nornickel from Russia, and Vale from Brazil. In 2020, Vale's nickel production amounted to 214,700 metric tons, while Nornickel produced some 172,357 metric tons.Nickel consumption and price dynamics
In 2020, the global consumption of nickel amounted to some 2.44 million metric tons. China accounted for a stark 59 percent of global nickel consumption in 2020, while the rest of Asia accounted for a further 23 percent of consumption. As with any commodity, the price of nickel varies considerably with market influences. In 2020, the average annual price for one metric ton of nickel was 13,787 U.S. dollars, which is a significant decrease from the average price in 2011 of 22,910 U.S. dollars. Indeed, nickel prices had a wide monthly range from 2020 to 2021, with the price in April 2020 sitting at a low of 11,804 U.S. dollars per metric ton, and rising to a high of 18,584 U.S. dollars per metric ton in February 2021. Forecasts for the production, consumption, and price of nickel are showing a tendency to rise over the course of the years to come.
