By Paul Ploumis (ScrapMonster Author)
October 27, 2015 05:58:11 AM
BRUSSELS (Scrap Monster): Global nickel markets ended in small deficit of 18,000 tonnes in January-August 2015 with apparent demand exceeding production. The calculated full year surplus had stood at 241,800 tonnes in the whole of 2014, according to the latest data released by the World Bureau of Metal Statistics (WBMS).
The statistics indicate that that reported stockpiles maintained by LME were 39,000 tonnes higher at the end of August this year from the closing levels of 2014.
World Nickel mine production was 1,247 kt in Jan-August 2015, 96 kt lower when compared with the corresponding period during previous year. The ban on exports by Indonesian administration has led to reduced mine output from the country.
Refined Nickel production in Jan-Aug was 1,262 kt. The total smelter/refinery production of Nickel was 171.5 kt in August 2015. Japan's smelter/refinery production during the initial eight-month period of the year witnessed a jump of 5.1 kt compared to 2014.
Refined Nickel consumption was 1,280 kt in Jan-Aug 2015. Nickel smelter consumption was 168.90 kt in August this year.
The apparent demand of Nickel from Japan was marginally lower by 2.5 kt during January to August this year when matched with the previous year. Global Nickel demand was 128 kt higher than the previous year.