Global Nickel market records surplus during Jan-Feb '15

BRUSSELS (Scrap Monster): Global nickel markets were in surplus of 20,000 tonnes in January-February 2015, when compared with the calculated full year surplus of 219,500 tonnes in 2014, according to the latest data released by the World Bureau of Metal Statistics (WBMS).

The report shows that that reported stockpiles maintained by LME were 16,000 tonnes higher at the end of February this year from the closing levels of 2014.

Nickel Production

World Nickel mine production was 351.9 kt in Jan-Feb 2015, 30.6 kt higher when compared with the corresponding period during previous year. Japan's mine production showed a rise of 2.4 kt compared to 2014.

Refined Nickel production in Jan-Feb was 282.9 kt. The total smelter production of Nickel was 140.1 kt in February 2015.

Nickel Demand

Refined Nickel consumption was 262.9 kt in Jan-Feb 2015. Nickel smelter consumption was 127.3 kt in February this year.

Demand of Nickel from Japan was down by 1.8 kt in February compared to end of 2014. Global Nickel demand was 47 kt lower than the previous year.