LONDON, Jan. 21 -- The world nickel market was in a deficit of 19,000 metric tons between January and November 2009, the World Bureau of Metal Statistics said Wednesday.
"The figure includes substantial imports recorded by China, some of which are destined for restocking purposes and are likely to be enough to more than compensate for the deficit in the rest of the world," the WBMS said.
Refined production for the first 11 months of the year totaled 1.182 million tons, down 5.2% on the year, and demand was 1.201 million tons, down 0.3%.
Mine production fell 8% to 1.2567 million tons compared with the 2008 total.
Output reductions in Japan accounted for much of the refined output decline, the WBMS said.
In November, nickel smelter production was 101,700 tons and consumption was 95,000 tons.