According to the World Bureau of Metal Statistics (WBMS), in the January-November period of last year there was a nickel deficit of 6,500 mt in the global market. Reported nickel stocks held at the London Metal Exchange (LME) at the end of November were 154,000 mt lower than at the end of 2017.
In the January-November period of 2018, global nickel mine production totaled 2.17 million mt, up 289,000 mt year on year, the WBMS said. Chinese refinery output increased by 136,000 mt year on year in the given period, while Chinese apparent demand was 127,000 mt higher than in the same period of 2017. Meanwhile, world apparent demand for nickel in the given period was 168,000 mt higher compared to the corresponding period of the previous year.
In November alone, global nickel production stood at 212,400 mt, while global consumption amounted to 201,500 mt.