According to the World Bureau of Metal Statistics (WBMS), in the first half of this year there was a nickel deficit of 60,300 mt in the global market. Reported nickel stocks held at the London Metal Exchange (LME) at the end of June were 600 mt lower than at the end of 2016.
In the January-June period this year, global nickel mine production totaled 899,000 mt, down 38,000 mt year on year, the WBMS said. Chinese refinery output decreased by 28,000 mt year on year in the given period, while Chinese apparent demand was 142,000 mt lower than in the same period of 2016. Meanwhile, world apparent demand for nickel in the first six months of this year was 84,000 mt lower compared to the corresponding period of the previous year.
In June alone, global nickel production stood at 155,800 mt, while global consumption amounted to 153,400 mt.