World Nickel market records minor deficit in 2015

BRUSSELS (Scrap Monster): Global nickel markets ended in small deficit of 13,000 tonnes in 2015 with apparent demand exceeding production. The calculated full year surplus had stood at 241,800 tonnes in the whole of 2014, according to the latest data released by the World Bureau of Metal Statistics (WBMS).

The statistics indicate that that reported stockpiles maintained by LME were 26,400 tonnes higher at the end of December last year from the closing levels of 2014.

Nickel Production

World Nickel mine production was 1,772.9 kt in 2015, 130 kt lower when compared with the previous year. The ban on exports by Indonesian administration has led to reduced mine output from the country. The local mine production from the country continued to remain weak.

Refined Nickel production in 2015 was 1,920.6 kt. The total smelter/refinery production of Nickel was 163.3 kt in December 2015. Japan's smelter/refinery production during the entire year 2015 witnessed a jump of 14.8 kt compared to 2014.

Nickel Demand

Refined Nickel consumption was 1,934.0 kt in 2015. Nickel smelter consumption was 167.3 kt in December last year.

The apparent demand of Nickel from Japan was marginally higher by 1.2 kt during the entire year 2015 when matched with 2014. Global Nickel demand was 234 kt higher than the previous year.