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Nickel Market Records Surplus in January to April 2020

Metal News - Published on Mon, 29 Jun 2020

Image Source: Nickel Price
World Bureau of Metal Statistics announced that the nickel market was in surplus during January to April 2020 with production exceeding apparent demand by 14.4 kt. In the whole of 2019, the calculated deficit was 17.9 kt. Reported stocks held in the LME at the end of April 2020 were 77.4 kt higher than at the end of the previous year. Refined production in January to April 2020 totalled 711 kt and demand was 697 kt.

Mine production during January to April was 688.7 kt, 74 kt below the comparable 2019 total. Chinese smelter/refinery output fell by 30 kt compared with 2019 and apparent demand was 324.4 kt, 15 kt lower than in the previous year.

World apparent demand was 31.4 kt lower than the previous year. No allowance is made in the consumption calculation for unreported stock changes. Demand is measured on an apparent basis and it is likely that the full effects of national lockdowns have not been fully reflected in the trade statistics.

In April 2020, nickel smelter/refinery production was 168.4 kt and demand was 173.4 kt.

Source :

Posted By : Yogender Pancholi on Mon, 29 Jun 2020
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