Stainless Steel World Magazine June 2023 | Page 45

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600 500 400 300 200 100

0

Nickel pig iron production ( in 1000 tonnes )

2015 2016

China Sources : INSG , Antaike , MySteel , SMM .

primary nickel usage ( not counting scrap ) with this share projected to decline to around 66 % in 2023 . Higher demand for nickel in order to produce lithium-ion batteries will lead to a bigger proportion of the market accounted for by this sector over the coming years . The World Stainless Association ( former International Stainless Steel Forum / ISSF ) released figures for the full year of 2022

2017 2018 2019 2020 2021 2022 2023 ( f ) Indonesia

showing that “ stainless steel melt shop production decreased by 5.2 % yearon-year to 55.3 million metric tons ,” after decreasing -2.5 % in 2020 and increasing + 14.5 % in 2021 . Preliminary forecast figures for world stainless steel consumption ( subject to revisions ) indicate an increase of less than + 2 % in 2023 . This figure confirms that demand growth from the stainless steel sector is expected to be moderately positive in 2023 , in line with lower economic expectations for the year . As reported by the consultant “ EV Volumes ”, world sales of EVs reached 10.5 million in 2022 (+ 55 % growth ), after increasing + 43 % in 2020 and + 109 % in 2021 . EV sales represented 13 % of global light vehicle sales in 2022 , while in 2020 , the share was 4.2 %, and in 2021 8.3 %. EV sales show that “ PHEVs [ plug-in hybrid electric vehicles ] stood for 27 % of global plugin [ PHEV + battery EV , or BEV ] sales in 2022 compared to 29 % in 2021 . While their sales volumes still increased , their share in the PEV mix is in decline , facing headwinds from incentive cuts and improving BEV offers .” Sales in Europe increased + 15 %, in USA and Canada by + 48 % and in China by + 82 %, continuing to indicate a shift to China . For the full year of 2023 , EV Volumes “ expect sales of 14,3 million EVs , a growth of 36 % over 2022 , with BEVs reaching 11 million units and PHEVs 3,3 million units .” In China , annual production of ternary precursors used to produce different types of nickel-containing batteries has been consistently rising , from 320kt in 2020 to 633kt in 2021 and 842kt in 2022 , according to MySteel . High-nickel NCM811 and NCM622 precursors

Estimated Indonesian nickel exports ( in 1000 tonnes , nickel content )

FeNi + NPI Matte MHP

Sources : Indonesian Customs , INSG .

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