WBMS: Nickel Market In 10,900-ton Deficit In 2011

LONDON, Feb. 16 -- The global nickel market was in deficit by 10,900 metric tons in 2011, the World Bureau of Metal Statistics said Wednesday.

This compares with a 100-ton surplus over the whole of 2010, although this figure included substantial imports recorded by China, some of which was destined for re-stocking purposes, the WBMS added.

Mine production during 2011 was 1.81 million tons, up by 297,300 tons compared with 2010.

Japanese refinery output decreased by 5,100 tons compared with 2010, but apparent demand was slightly higher, the WBMS said, without providing a figure.

World apparent demand was 288,000 tons higher than the previous year. No allowance is made in the consumption calculation for unreported stock changes.