According to the World Bureau of Metal Statistics (WBMS), in the January-September period of this year there was a nickel deficit of 66,900 mt. The nickel deficit in 2018 was 102,900 mt. Reported nickel stocks held at the London Metal Exchange (LME) at the end of September were 54,300 mt lower than at the end of 2018.
In the January-September period of 2019, global nickel mine production totaled 1.87 million mt, up 102,000 mt year on year, the WBMS said. Chinese refinery output increased by 75,000 mt year on year in the given period, while Chinese apparent demand was 159,000 mt higher than in the same period of 2018. Meanwhile, world apparent demand for nickel in the given period was 53,000 mt higher compared to the corresponding period of the previous year.
In September alone, global nickel production stood at 225,500 mt, while global consumption amounted to 230,600 mt.