Global Nickel market records deficit during Jan-June 2015

By Paul Ploumis 21 Aug 2015  Last updated at 08:02:41 GMT

The global nickel apparent demand exceeded production during the initial six-month period of the year. The world nickel market ended in deficit of 28,000 tons during January to June this year.

BRUSSELS (Scrap Monster): Global nickel markets were in deficit of 28,000 tonnes in January-June 2015 with apparent demand exceeding production. The calculated full year surplus had stood at 196,100 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 42,000 tonnes higher at the end of Juen this year from the closing levels of 2014.

Nickel Production

World Nickel mine production was 908.1 kt in Jan-June 2015, 66.4 kt higher 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-June was 791 kt. The total smelter/refinery production of Nickel was 167.2 kt in June 2015. Japan's smelter/refinery production during the initial six-month period of the year witnessed a jump of 10.8 kt compared to end-2014.

Nickel Demand

Refined Nickel consumption was 919 kt in Jan-June 2015. Nickel smelter consumption was 198.0 kt in June this year.

The apparent demand of Nickel from Japan was marginally higher by 2.4 kt during January to June this year when matched with the previous year. Global Nickel demand was 61 kt higher than the previous year.