Global Nickel market reports a deficit of 76,400 tons during Jan-Sept
LONDON (Scrap Register): Global Nickel market reported a deficit of 76,400 tons during January to September this year with apparent demand exceeding production. The calculated full year surplus had stood at 75.0 kt during the whole year 2015, according to World Bureau of Metal Statistics.
WBMS statistics indicate that that reported stockpiles maintained by LME were 79.3 kt lower at the end of September this year from the closing levels of 2015.
Global Nickel mine production was 1,504.1 kt in January-September 2016, lower by 107.9 kt when compared with the corresponding period during previous year. The ban on exports by Indonesian administration has led to reduced mine output from the country. In addition, the local mine production from the country has continued to remain extremely weak ever since the beginning of 2014.
Refined Nickel production in Jan-September ’16 was 1,348 kt. The Chinese smelter/refinery production during the initial nine-month period of the year witnessed decline of 31.9 kt compared to 2015. The total smelter/refinery production of Nickel was 160.3 kt in September 2016.
Refined Nickel consumption during Jan-September ’16 surged higher by 72.2 kt when matched with the previous year. Nickel smelter consumption was 161.8 kt in September this year.
The refined Nickel demand in Jan-August ’16 totaled 1,424 kt.