Russian mining and metals giant Nornickel has raised its global nickel surplus estimate for the current year due to lower than expected consumption in the battery sector, the company said in a market report.

Global nickel production will outpace demand to the tune of 239,000 metric tons next year, according to the International Nickel Study Group (INSG).

The global nickel market had a surplus of 11,900 metric tons in May, compared with a surplus of 13,900 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Tuesday.

China ferronickel imports in December 2022 by country/region.

China ferronickel imports in Jan-Dec 2022 by country/region.

China ferronickel imports in November 2022 by country/region.

China ferronickel imports in Jan-Nov 2022 by country/region.

China ferronickel imports in October 2022 by country/region.