According to the World Bureau Of Metal Statistics (WBMS), the global nickel market was in deficit during January to December 2019 with apparent demand exceeding production by 2.2 kt. In the whole of 2018, the calculated deficit was 98.7 kt. Reported stocks held in the LME at the end of December 2019 were 53.1 kt lower than at the end of the previous year. Refined production in January to December 2019 totalled 2408.3 kt and demand was 2410.5 kt.
Mine production during January to December was 2609.6 kt, 218 kt above the comparable 2018 total. Chinese smelter/refinery output increased by 119 kt compared with 2018 and apparent demand was 1304.3 kt, 208 kt higher than in the previous year.
World apparent demand was 65 kt higher than the previous year. No allowance is made in the consumption calculation for unreported stock changes
In December 2019, nickel smelter/refinery production was 204.9 kt and consumption was 191.4 kt.
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