www.ferro-alloys.com:The Nickel market was in deficit during January to December 2016 with apparent demand exceeding production by 51.5 kt. In the whole of 2015 the calculated surplus was 73.5 kt. Reported stocks held in the LME at the end of December were 69.3 kt lower than at the end of the previous year. Refined production in January to December totalled 1827.6 kt and demand was 1879.1 kt.
Mine production during January to December was 1852.7 kt, 271 kt below the comparable 2015 total. The Indonesian export ban and the assumed drastic decline in local mine production began at the beginning of 2014. Chinese smelter/refinery output decreased by 25 kt compared with 2015 and apparent demand was 45 kt higher than in the previous year due to increased imports of Nickel Pig Iron from Indonesia and higher imports of metal from Russia.
World apparent demand was 129 kt higher than the previous year. No allowance is made in the consumption calculation for unreported stock changes
In December 2016, nickel smelter/refinery production was 161.6 kt and consumption was 143.4 kt.