According to the World Bureau of Metal Statistics (WBMS), in the first four months of this year there was a nickel deficit of 35,300 mt in the global market. Reported nickel stocks held at the London Metal Exchange (LME) at the end of April were 7,100 mt higher than at the end of 2016.
In the January-April period this year, global nickel mine production totaled 574,000 mt, down 60,000 mt year on year, the WBMS said. Chinese refinery output decreased by 26,000 mt year on year in the given period, while Chinese apparent demand was 107,000 mt lower than in the same period of 2016. Meanwhile, world apparent demand for nickel in the first four months of this year was 37,000 mt lower compared to the corresponding period of the previous year.
In April alone, global nickel production stood at 138,100 mt, while global consumption amounted to 145,900 mt.