According to the World Bureau of Metal Statistics (WBMS), in the first four months of this year there was a nickel deficit of 8,800 mt in the global market. Reported nickel stocks held at the London Metal Exchange (LME) at the end of April were 23,800 mt lower than at the end of the previous year.
In the January-April period, global nickel mine production totaled 690,100 mt, down 19,300 mt year on year, the WBMS said. Japanese refinery output increased by 6,600 mt year on year in the given period, while Japanese apparent demand was 3,300 mt higher than in the same period of 2015. Meanwhile, world apparent demand for nickel in the January-April period this year was 86,000 mt higher compared to the corresponding period of the previous year.
In April alone, global nickel production stood at 145,500 mt, while global consumption amounted to 157,000 mt.