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WBMS: Global nickel market in a 66,900 mt deficit in Jan-Sep

iconNov 21, 2019 10:33
Source:SMM
The deficit came in at 102,900 mt for the whole of 2018

SHANGHAI, Nov 21 (SMM) – World nickel market was in deficit during the first nine months of 2019 with apparent demand exceeding production by 66,900 mt, the World Bureau of Metal Statistics (WBMS) reported on Wednesday November 20.

The deficit came in at 102,900 mt for the whole of 2018.

As of the end of September, reported stocks across LME warehouses were 54,300 mt lower than the end of the previous year.

Production of refined nickel amounted to 1.74 million mt in January to September, while demand came in at 1.81 million mt.

During the same period, mine production stood at 1.87 million mt, up 102,000 mt year on year. Output from Chinese smelters and refineries increased by 75,000 mt from the same period last year, and apparent demand was 960,400 mt, 159,000 mt higher than a year ago.

Global apparent demand was 53,000 mt higher than the previous year.

In September, production across nickel smelters and refineries was 225,500 mt, compared to consumption of 230,600 mt.

Supply-demand balance
Production data
Nickel

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