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Nickel Market Records Surplus in January to March 2020 - WBMS

Metal News - Published on Tue, 02 Jun 2020

Image Source: Nickel
World Bureau of Metal Statistics in latest report said that nickel market was in surplus during January to March 2020 with production exceeding apparent demand by 6.6 kt. In the whole of 2019, the calculated deficit was 17.9 kt. Reported stocks held in the LME at the end of March 2020 were 75.5 kt higher than at the end of the previous year. Refined production in January to March 2020 totalled 523.2 kt and demand was 516.6 kt.

Mine production during January to March was 595.9 kt, 52 kt above the comparable 2019 total. Chinese smelter/refinery output fell by 4 kt compared with 2019 and apparent demand was 243.9 kt, 12 kt higher than in the previous year.

World apparent demand was 0.3 kt lower than the previous year. No allowance is made in the consumption calculation for unreported stock changes

In March 2020, nickel smelter/refinery production was 169.0 kt and demand was 175.3 kt.

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Posted By : Yogender Pancholi on Tue, 02 Jun 2020
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