World Nickel Market Recorded Deficit Through April 2018

SEATTLE (Scrap Monster): The world Nickel market ended in deficit during the initial four months of the current. The data released by the World Bureau of Metal Statistics (WBMS) suggests that the market recorded a deficit of 43 kt during Jan-Apr ’18. The full-year deficit had totaled only 96.0 kt in 2017.

The reported LME stocks of Nickel at the end of April this year have dropped by 59.8 kt from the end-2017 levels. The refined metal output totaled 569.1 kt, whereas the demand totaled 612.5 kt. The mine production surged higher by 47 kt over the previous year to total 609.6 kt during Jan-Apr ’18. The world apparent demand stood higher by 48 kt when compared with the previous year. The Chinese smelter/refinery output was up by 21 kt over 2017. The smelter/refinery production totaled 149.6 kt during April 2018 alone. Meantime, monthly consumption totaled 162.2 kt.

According to WBMS, global Lead market was in deficit of 116 kt during January to April in 2018. The total stocks reported decline of 25 kt. The refined production edged higher marginally by 3.3% over the previous year. The Chinese demand accounted for 43% of the total global lead demand. The apparent demand declined marginally in the U.S. The monthly refined lead production totaled 925.7 kt, whereas the consumption totaled 987.8 kt in April this year.

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Tin market too recorded marginal deficit of 4.3 kt during Jan-Apr ’18. The refined Tin production declined by 4 kt, when compared with Jan-Apr ’17. The global Tin demand was down by 4.4% when matched with the comparable period in 2017. The refined production totaled 31 kt in April 2018, whereas the consumption totaled 30.8 kt.

Meantime, Zinc market recorded 143 kt of surplus during the first four months of 2018. The global refined production rose by 1.3%. On the other hand, consumption dropped by 5.3%. The demand stood lower by 243 kt over the comparable four-month period in 2017. The slab zinc production in April 2018 totaled 1123.6 kt and consumption totaled 1,071.5 kt.