Global Nickel market deficit widens further in May

UNITED KINGDOM July 15 2016 3:25 PM     

LONDON (Scrap Register):  The global nickel market deficit widened further to 11,200 tons during  May this year mainly on low prices weighed on refined output from top producer  China while demand slowly improved.

According to International Nickel  Study Group, global primary nickel production down to 164,700 tons during May,  behind a recovery in global consumption, which edged up to 175,900 tons. The  deficit in April was revised down to 6,500 tons.

Global nickel market  deficit widened to 21,200 tons during the first five months of this year as  consumption grew by 4.1% to 821,200 tons but refined output slipped by 2.3% to  800,000 tons a year earlier.

But strong yearly production from mines in  Indonesia and a revival in output from the Philippines in May suggests global  refined nickel production posted a strong recovery in June.