Nickel Market Reports Modest Deficit In Jan-Feb ‘18

SEATTLE (Scrap Monster): The Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) indicates that global Nickel market ended in modest deficit during the first two months of 2018. Also, Lead and Tin markets recorded deficits during Jan-Feb ’18.

Nickel

Global Nickel market ended in deficit, with apparent demand exceeding production by 24,600 tonnes during Jan-Feb ‘18. The calculated full year deficit had totaled 96.1 kt during the whole of 2017, according to WBMS. The reported metal stockpiles maintained by LME were 31.0 kt lower than the closing levels of 2017.

The World Nickel mine production has increased by 44 kt over the previous year to total 303.0 kt in Jan-February ’18. Refined Nickel production totaled 286 kt. The Chinese smelter/refinery production during the first two months of 2018 surged higher by 4.0 kt upon comparison with 2017. Meantime, apparent demand edged higher by 13 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 138.8 kt, whereas the consumption totaled 141.9 kt during February 2018.

Tin

The worldwide Tin market has recorded a marginal deficit of 1.3 kt during Jan-Feb ’18.

Global refined Tin production dropped by 2 kt during the two-month period. The Asian production declined by 2.6 kt. The global demand for the metal has declined modestly by over 6% to 59.3 kt when matched with January to February in 2017. The Chinese apparent demand plunged by 20%.

The stock at the end of the first two months in 2018 was more or less unchanged when compared with end-December 2017 level.

The global refined Tin production totaled 28.5 kt in Feb ‘18, as against the demand of 27.6 kt.

Lead

The lead market deficit widened further in the initial two-month period in 2018. The deficit totaled 35 kt. It must be noted that the market had ended in deficit of 418 kt in the whole of 2017. The world refined production, from both primary and secondary sources, surged higher by 4.8% over the year to 1,938 kt. The Chinese apparent consumption was up by 51 kt when matched with the previous year and represented nearly 43% share of total global consumption of the metal. Meantime, the US apparent demand has declined by 10 kt during the year. The refined lead production and consumption in February this year totaled 964.2 kt and 990.2 kt respectively.