WBMS: Global Nickel Market In 3,000-Ton Surplus In 2010

LONDON, Feb 16 -- The global nickel market was in a small surplus of 3,000 metric tons in 2010, the World Bureau of Metal Statistics said Wednesday.

That compares with a surplus of 36,600 tons in 2009, which includes large imports by China partly destined for restocking purposes.

Most European countries have yet to report their trade data for the full year and the final figures could change significantly when this data are available, the WBMS noted.

Mine production during 2010 totaled 1.532 million tons, up 12% from the 2009 total. World apparent demand rose 217,000 tons from the year before, the WBMS said, without giving a total figure.

In December 2010, nickel smelter production was 141,900 tons and consumption was 132,600 tons.