WBMS: World Nickel, Tin Markets Ended in Deficit, Zinc in Surplus

SEATTLE (Scrap Monster):  The latest Metals Balances Report released by the World Bureau of Metal Statistics (WBMS) indicates that Nickel market has ended in a small deficit during Jan-June ‘22. Tin market too has recorded marginal deficits during this period. However, global zinc market recorded marginal surplus.

The gobal nickel market ended in deficit of 49,800 tonnes in HI this year. The calculated full year deficit had stood at 146.8 kt during the whole year 2021. The statistics indicate that that reported stockpiles maintained by LME were 34.2 kt lower at the end of June this year, compared with the end-2021 levels. Meantime, the world nickel mine production totalled 1,472.60 kt in first six months of the year, higher by 195.0 kt when compared with the corresponding period during previous year.

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The worldwide Tin market recorded a marginal deficit of 6.0 kt during January to June this year. The global refined tin production recorded slight decline by 25.3 kt during the half-yearly period. The global demand for the metal recorded sharp decline by 10.5% to total 186.7 kt. The apparent demand in China fell by 16%, whereas that in the U.S. witnessed a decline by 2.2% year-on-year.

As per WBMS data, the global zinc market recorded marginal surplus of 168 kt during the initial six months of the year. The global refined zinc production rose by 0.2%. The global demand edged lower by 3.5% from the level recorded for Jan-June ’22.