[ferro-alloys.com]The nickel market was in deficit during January to May 2019 with apparent demand exceeding production by 57.3 kt. In the whole of 2018 the calculated deficit was 91.3 kt.. Reported stocks held in the LME at the end of May 2019 were 47.5 kt lower than at the end of the previous year. Refined production in January to May 2019 totalled 906.0 kt and demand was 963.4 kt.
Mine production during January to May was 985.4 kt, 81 kt above the comparable 2018 total. Chinese smelter/refinery output increased by 47 kt compared with 2018 and apparent demand was 65 kt higher than in the previous year.
World apparent demand was 35 kt higher than the previous year. No allowance is made in the consumption calculation for unreported stock changes
In May 2019, nickel smelter/refinery production was 209.5 kt and consumption was 227.1 kt.