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BRUSSELS (Scrap Monster): Global apparent nickle demand was 87.4 kilo tons higher than the previous year, as per latest data released by World Bureau of Metal Statistics (WBMS). No allowance is made in the consumption calculation for unreported stock changes

According to WBMS data, the Nickel market was in surplus during January to July 2012 with production exceeding apparent demand by 50 kt. In the whole of 2011 the calculated deficit was 3.2 kt.

Reported stocks held in the LME at the end of July were 10.8 kt higher than at the end of the previous year. Refined production in January to July totalled 1040.3 kt and demand was 990.2 kt.

Global mine production during January to July was 1019.2 kt, 58 kt above the comparable 2011 total. Japanese refinery output increased by 2.1 kt compared with 2011 but apparent demand was 13.3 kt lower than in 2011.

World apparent demand was 87.4 kt higher than the previous year. No allowance is made in the consumption calculation for unreported stock changes

In July 2012, nickel smelter production was 157.7 kt and consumption was 146.9 kt.