World Nickel market records minor deficit during Jan-Sep 2015

By Paul Ploumis (ScrapMonster Author)

November 20, 2015 06:03:44 AM

BRUSSELS (Scrap Monster): Global nickel markets ended in small deficit of 39,000 tonnes in January-September 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 37,700 tonnes higher at the end of September this year from the closing levels of 2014.

Nickel Production

World Nickel mine production was 1,404 kt in January-September 2015, 118 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. The local mine production from the country continued to remain weak.

Refined Nickel production in Jan-Sep was 1,437 kt. The total smelter/refinery production of Nickel was 164.2 kt in September 2015. Japan's smelter/refinery production during the initial nine-month period of the year witnessed a jump of 5.9 kt compared to 2014.

Nickel Demand

Refined Nickel consumption was 1,476 kt in Jan-Sep 2015. Nickel smelter consumption was 184.2 kt in September this year.

The apparent demand of Nickel from Japan was marginally lower by 3.7 kt during January to September this year when matched with the previous year. Global Nickel demand was 164 kt higher than the previous year.