WBMS: Global Nickel Market Saw a Supply Deficit of 116,600 mt in Jan-Oct 2022

Published: Dec 21, 2022 11:09

Source: SMM

Save

In the first ten months of 2022, the output of refined nickel totalled 2.37 million mt, while the demand for it stood at 2.49 million mt.

SHANGHAI, Dec 21 (SMM) - According to the latest report released by World Bureau of Metal Statistics (WBMS), the global nickel market recorded a deficit of 116,600 mt from January to October 2022, which follows a deficit of 180,700 mt in the whole 2021. In the first ten months of 2022, the output of refined nickel totalled 2.37 million mt, while the demand for it stood at 2.49 million mt. The combined output of nickel ore in January-October totalled 2.56 million mt, up 326,000 mt year-on-year. In China, the output of nickel smelters during January and October dropped by 62,300 mt on a annual basis. The apparent demand stood at 1.42 million mt, up 39,600 mt year-on-year. During the same period, the combined output of nickel smelters in Indonesia was 866,400 mt, up by 20% on the year. Globally, the total apparent demand for nickel in the first ten months of 2022 increased by 38,100 mt.

Market Output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

[SMM Flash News] Rumors of Centralized State Export House Rattle Markets Ahead of Presidential Address

Market rumors ahead of tomorrow’s presidential address suggest Indonesia may establish a specialized state agency to centralize strategic commodity exports, initially targeting CPO and coal, with minerals under discussion. Under the rumored framework, producers would bypass direct international sales and sell to this state trading entity, which would export globally and potentially capture a trading spread. While the official narrative focuses on curbing under-invoicing, securing state revenue, and retaining foreign exchange to defend the rupiah, the market treats this as a major policy risk.

4 hours ago

5 hours ago

Data: SHFE, DCE market movement (May 19)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 19 May , 2026

5 hours ago

6 hours ago

[SMM Flash News] Indonesia’s ESDM Suspends Over 50 Mining Licenses (IUPs) Over Delayed 2026 RKAB Submissions

Following three consecutive warning letters, Indonesia’s Ministry of Energy and Mineral Resources (ESDM) has suspended more than 50 mineral and coal mining licenses (IUPs), including 34 nickel operations, for failing to submit their 2026 Work Plans and Budgets (RKAB). Tri Winarno, ESDM’s Director General of Minerals and Coal, stated on May 18 that the affected miners have been given a strict 90-day grace period to rectify their filings, after which non-compliance will lead to the permanent revocation of their mining licenses as the state tightens sector oversight.

6 hours ago