The Nickel market was in deficit during January to June 2017 with apparent demand exceeding production by 60.3 kt. In the whole of 2016 the calculated deficit was 71 kt. Reported stocks held in the LME at the end of June 2017 were 0.6 kt lower than at the end of the previous year. Refined production in January to June 2017 totalled 813.2 kt and demand was 873.5 kt.
Mine production during January to June was 899 kt, 38 kt below the comparable 2016 total. Chinese smelter/refinery output decreased by 28 kt compared with 2016 and apparent demand was 142 kt lower than in the previous year due to reduced imports of Nickel metal from Russia.
World apparent demand was 84 kt lower than the previous year. No allowance is made in the consumption calculation for unreported stock changes.
In June 2017, nickel smelter/refinery production was 155.8 kt and consumption was 153.4 kt.(Source: WBMS)