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

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.