World Nickel market records small deficit during Jan-July ‘15

BRUSSELS (Scrap Monster): Global nickel markets ended in small deficit of 16,000 tonnes in January-July 2015 with apparent demand exceeding production. The calculated full year surplus had stood at 241,800 tonnes in the whole of 2014, according to the latest data released by the World Bureau of Metal Statistics (WBMS).

The statistics indicate that that reported stockpiles maintained by LME were 44,000 tonnes higher at the end of July this year from the closing levels of 2014.

Nickel Production

World Nickel mine production was 1,111 kt in Jan-July 2015, 53 kt lower 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.

Refined Nickel production in Jan-July was 1,096 kt. The total smelter/refinery production of Nickel was 170.1 kt in July 2015. Japan's smelter/refinery production during the initial seven-month period of the year witnessed a jump of 7.2 kt compared to 2014.

Nickel Demand

Refined Nickel consumption was 1,112 kt in Jan-July 2015. Nickel smelter consumption was 201.50 kt in July this year.

The apparent demand of Nickel from Japan was marginally higher by 0.4 kt during January to July this year when matched with the previous year. Global Nickel demand was 103 kt higher than the previous year.