WBMS: The Global Nickel Market Is in Short Supply Of 49,800 Tonnes During January-June 2022

August 17 - The global nickel market was in short supply by 49,800 tons in the January-June period of 2022 and 146,800 tons for the whole of 2021, according to the latest report data released by the World Metals Statistics Bureau (WBMS) on Wednesday.

At the end of June, LME reportable inventories, which include written off warehouse receipts, were 34,200 tonnes lower than a year earlier.

In the first six months of the year, global refined nickel volumes totalled 1.365m tonnes, with demand at 1.414,900 tonnes.

Global nickel production from mines in the January-June period was 1,472,600 tonnes, up 195,000 tonnes from a year earlier. Chinese smelters produced 30, 000 tonnes less refined nickel, while apparent demand stood at 761,300 tonnes, 39, 000 tonnes higher than a year earlier. Indonesian smelters produced 506,400 tonnes of refined nickel, almost 20 per cent more than a year earlier.

In the first six months of the year, apparent global demand increased by 73,000 tonnes compared with the same period last year.

Global nickel production in June was 245,300 tonnes, while demand was 244,700 tonnes