Global nickel production diminishes in January- July Friday, 23...

Global nickel production diminishes in January- July


Friday, 23 September 2016 16:37:40 (GMT+2) - Istanbul
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According to the World Bureau of Metal Statistics (WBMS), in the first seven months of this year there was a nickel deficit of 89,500 mt in the global market. Reported nickel stocks held at the London Metal Exchange (LME) at the end of July were 68,400 mt lower than at the end of the previous year.


In the January-July period of this year, global nickel mine production totaled 1.18 million mt, down 54,800 mt year on year, the WBMS said. Japanese refinery output increased by 8,500 mt year on year in the given period, while Japanese apparent demand was 8,900 mt higher than in the same period of 2015. Meanwhile, world apparent demand for nickel in
the first seven months of this year was 110,000 mt higher compared to the corresponding period of the previous year.


In July alone, global nickel production stood at 152,400 mt, while global consumption amounted to 164,100 mt.