Global apparent Nickel demand up by 46.7 in Jan-Mar: WBMS
Metal Recycling News | 2012-05-17 08:49:44
Global apparent nickel demand rose by 46.7 kilo tons in the first quarter of this year as compared to 2011, according to the latest data released by World Bureau of Metal Statistics (WBMS).
By Paul Ploumis
LONDON (Scrap Monster): Global apparent nickel demand rose by 46.7 kilo tons in the first quarter of this year as compared to 2011, according to the latest data released by World Bureau of Metal Statistics (WBMS).
According to WBMS, no allowance is made in the consumption calculation for unreported stock changes.
Global nickel mine production during January to March was 472.3 kilo tons, 98.2 kilo tons above the comparable 2011 total. Japanese refinery output decreased by 0.2 kilo tons compared with 2011 and apparent demand was 2.7 kilo tons lower than in 2011, they added.
Refined production in January to March totalled 408.4 kilo tons and demand was 402.2 kilo tons. In March 2012, nickel smelter production was 137.4 kilo tons and consumption was 135.5 kilo tons.
WBMS continued that, the Nickel market was in surplus during first quarter this year with production exceeding apparent demand by 6.2 kilo tons. In the whole of 2011 the calculated surplus was 8.6 kilo tons.
Reported stocks held in the LME at the end of March were 8.3 kilo tons higher than at the end of the previous year.
