According to the World Bureau of Metal Statistics (WBMS), in the first four months of the current year there was a nickel supply surplus of 39,000 mt in the global market. During 2014, the calculated surplus was 220,900 mt. Reported nickel stocks held at the London Metal Exchange (LME) at the end of April were 29,000 mt higher than at the end of the previous year.
In the January-April period, global nickel mine
production totaled 719,100 mt, up 77,700 mt year on year, the WBMS said. Japanese refinery output increased by 11,800 mt year on year in the given period, while Japanese apparent demand was 7,800 mt higher in the same period compared to the corresponding period of 2014. Meanwhile, world apparent demand for nickel in the January-April period was 28,500 mt lower compared to the corresponding period of the previous year.
In April alone, global nickel
production stood at 160,300 mt, while global consumption amounted to 162,800 mt.