LONDON, July 22 -- The world refined nickel market was in a 5,000-metric-ton deficit in the first five months of the year, the World Bureau of Metal Statistics said Wednesday.

This compares with a surplus of 48,600 tons during the year-earlier period, the WBMS said.

World refined nickel demand was 90,000 tons higher in January to May compared with the same period in the previous year.

Nickel mine production during the period declined 5.7% on the year to 546,000 tons.