According to the World Bureau of Metal Statistics (WBMS), in the first half of this year there was a nickel deficit of 80,800 mt in the global market. Reported nickel stocks held at the London Metal Exchange (LME) at the end of June were 61,800 mt lower than at the end of the previous year.
In the first half of this year, global nickel mine production totaled 956,700 mt, down 100,400 mt year on year, the WBMS said. Japanese refinery output increased by 9,300 mt year on year in the given period, while Japanese apparent demand was 7,400 mt higher than in the same period of 2015. Meanwhile, world apparent demand for nickel in the first half of this year was 134,000 mt higher compared to the corresponding period of the previous year.
In June alone, global nickel production stood at 153,900 mt, while global consumption amounted to 175,300 mt.