Author: Paul Ploumis24 Jun 2014 Last updated at 06:36:11 GMT
SEATTLE (Scrap Monster): According to International Nickel Study Group (INSG), the surplus in global nickel market dropped significantly year-on-year during the month of April this year. The global nickel market surplus totaled 4,000 tons in April this year. This is 55.56% down when compared with the surplus data during April last year. The global nickel market surplus during April 2013 was 9,000 tons.
The nickel surplus in April increased when compared with the previous month. The global nickel surplus surged by 11% month-on-month during April. The production of Nickel during the month of March this year exceeded the monthly demand by 1,600 tons.
INSG notes that that the global nickel surplus during the four-month period from January to April this year dropped significantly over the previous year. The surplus narrowed by more than 75% during the initial four-month period of the year. The global surplus of nickel dropped from 51,000 tons during January to April 2013 to 12,600 tons during the corresponding four-month period this year.
The International Nickel Study Group (INSG) - an autonomous, intergovernmental organization established in 1990 and located in Lisbon, Portugal, is responsible for collection and publication of improved and latest statistics on world nickel market.