The nickel market was in deficit during January to April 2019 with apparent demand exceeding production by 38.7 kt. In the whole of 2018 the calculated deficit was 90 kt. Reported stocks held in the LME at the end of April 2019 were 33.3 kt lower than at the end of the previous year. Refined production in January to April 2019 totalled 697.6 kt and demand was 736.2 kt.
Mine production during January to April was 768.8 kt, 75 kt above the comparable 2018 total. Chinese smelter/refinery output increased by 25 kt compared with 2018 and apparent demand was 36 kt higher than in the previous year.
World apparent demand was 9 kt higher than the previous year. No allowance is made in the consumption calculation for unreported stock changes.
In April 2019, nickel smelter/refinery production was 189.6 kt and consumption was 207.8kt.
Source: WBMS |
