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Tin November 27, 2017 01:30:23 PM

World Nickel Market Ended in Marginal Deficit During Jan-Sep ‘17

Paul Ploumis
ScrapMonster Author
Global nickel market ended in deficit, with apparent demand exceeding production by 46,600 tonnes during Jan-September ‘17.
World Nickel Market Ended in Marginal Deficit During Jan-Sep ‘17

SEATTLE (Scrap Monster): The latest Metals Balances Report released by the World Bureau of Metal Statistics (WBMS) indicates that global Nickel market has ended in a marginal deficit during the initial nine-month period of 2017. Also, Zinc and Tin markets too have recorded deficit during the first three quarters of the current year.

Nickel

Global nickel market ended in deficit, with apparent demand exceeding production by 46,600 tonnes during Jan-September ‘17. The calculated full year deficit had totaled 68.2 kt during the whole of 2016, according to WBMS. The reported metal stockpiles maintained by LME were 12.4 kt higher upon comparison with the closing levels of 2016.

The World Nickel mine production has increased by 47 kt over the previous year to total 1,448.1 kt in Jan-September ’17. Refined Nickel production totaled 1,329.2 kt. The Chinese smelter/refinery production during the first three quarters of 2017 witnessed decline of 24.0 kt compared to 2016. Meantime, apparent demand edged lower by 153 kt in comparison with the previous year, mainly on account of reduced imports of Nickel metal from Russia.

The monthly Nickel Smelter/refinery production totaled 169.3 kt, whereas the consumption totaled 175.1 kt during September.

Zinc

As per WBMS data, the global zinc market recorded deficit of 504 kt during Jan-Sep ’17. It must be noted that the worldwide zinc market had reported a deficit of 202 kt during the entire year 2016.

Global refined zinc production edged higher marginally by 0.1%.

The global demand for the metal witnessed rise of 279 kt when matched with the first nine-month period in 2016. The Chinese apparent demand totaled 4,945 kt. The Japanese demand for the metal surged higher significantly by 13.5% to total 393 kt during this period.

The reported stock of the metal rose by 6 kt during the month of September this year. Also, LME zinc stocks rose by 9 kt.

The zinc slab production in September ’17 totaled 1,173.8 kt and the consumption totaled 1,227.8 kt.

Tin

The worldwide Tin market has recorded a marginal deficit of 5.8 kt during January to September this year. There were no DLA deliveries during this period.

Global refined Tin production edged higher by 18 kt during the nine-month period. The Asian production increased by 21.4 kt during Jan-Sep ’17, when matched with the production during the corresponding period last year.

The global demand for the metal has declined marginally by 1.70% to 279.1 kt when matched with January to September in 2016. The Chinese apparent demand was 4.3% lower than the corresponding period last year. The Japanese consumption surged higher by 8.5% year-on-year.

The reported stock of the metal declined marginally by 0.9 kt in September this year. The stock at the end of the first nine months in 2017 was higher marginally by 6.4 kt when compared with Dec ’16 closing levels.

The global refined Tin production totaled 29.5 kt in September, as against the demand of 30.7 kt.