According to the World Bureau of Metal Statistics (WBMS), in the first eight months of this year there was a nickel deficit of 75,100 mt in the global market. Reported nickel stocks held at the London Metal Exchange (LME) at the end of July were 72,200 mt lower than at the end of the previous year.
In the January-August period of this year, global nickel mine production totaled 1.35 million mt, down 75,100 mt year on year, the WBMS said. Chinese refinery output decreased by 40,600 mt year on year in the given period, while Chinese apparent demand was 70,900 mt higher than in the same period of 2015. Meanwhile, world apparent demand for nickel in the first eight months of this year was 106,000 mt higher compared to the corresponding period of the previous year.
In August alone, global nickel production stood at 152,900 mt, while global consumption amounted to 152,800 mt.