According to the World Bureau of Metal Statistics (WBMS), in the first nine month of this year there was a nickel deficit of 46,600 mt in the global market. Reported nickel stocks held at the London Metal Exchange (LME) at the end of September were 12,400 mt higher than at the end of 2016.
In the January-September period this year, global nickel mine production totaled 1.45 million mt, up 47,000 mt year on year, the WBMS said. Chinese refinery output decreased by 24,000 mt year on year in the given period, while Chinese apparent demand was 153,000 mt lower than in the same period of 2016. Meanwhile, world apparent demand for nickel in the first nine months of this year was 85,000 mt lower compared to the corresponding period of the previous year.
In September alone, global nickel production stood at 169,300 mt, while global consumption amounted to 175,100 mt.