WBMS Metals Balances Report- First Quarter 2019

SEATTLE (Scrap Monster): The world nickel market ended in marginal deficit during the three-month period from January to March in 2019. The most recent trade data published by the World Bureau of Metal Statistics (WBMS) suggests that nickel demand exceeded production by 23.2kt during the first quarter of the current year. This compares with the calculated market deficit of 90kt during the whole of 2018.

The reported stock of the metal in the London Metal Exchange (LME) at the end of March 2019 has reported huge decline, when compared with the end-2018 stock levels. The stock levels were down by 23.9kt than at the end of the previous year.

Refined nickel production during the first three months of 2019 totaled 512.0kt, whereas the demand totaled 535.3kt. The world apparent demand was 10kt higher than the corresponding three-month period in 2018. The mine production recorded notable surge over the prior year. The Jan-Mar ’19 production, at 534.8kt, was higher by 45kt when compared to the previous year production levels. The Chinese smelter/refinery output has increased by 14kt, upon comparison with Jan-Mar ’18 output. The Chinese apparent demand too was higher by 16kt than the previous year.

The Mar ’19 smelter/refinery output of nickel totaled 177.7kt. The monthly consumption stood higher at 180.7kt.

The world tin market recorded tiny deficit of 4.2kt in Jan-Mar ‘19. Also, the lead market continued to remain in deficit of 119kt in January to March in 2019. On the other hand, zinc market was in surplus by 96.4kt.