According to a report recently released by the World Bureau of Metal Statistics, in the first four months of this year nickel supply exceeded apparent demand by 1,600 mt, while world apparent nickel demand was 52,000 mt higher than in the same period of the previous year.
At the end of April, reported stocks held at the London Metal Exchange (LME) were 19,000 mt lower than at the end of last year. Refined nickel production in January to December 2010 totalled 1.5131 million mt, while demand was 1.5111 million mt.
Nickel production during January to April this year is recorded as 540,300 mt, rising 73,000 mt compared to the same period of 2010. Japanese refinery output increased by 200 mt compared with the first four months of the previous year but apparent demand fell by 2,700 mt as compared to the same period last year.
On the other hand, in April 2011 nickel smelter production was 132,800 mt worldwide while consumption was 133,200 mt.