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Nickel market records deficit in January to September 2018 - WBMS

Metal News - Published on Mon, 26 Nov 2018

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The Nickel market was in deficit during January to September 2018 with apparent demand exceeding production by 33 kilo tonne. In the whole of 2017 the calculated deficit was 41.3 kilo tonne. Reported stocks held in the LME at the end of September 2018 were 138 kilo tonne lower than at the end of the previous year. Refined production in January to September 2018 totaled 1626 kt and demand was 1659 kilo tonne.

Mine production during January to September was 1686 kilo tonne, 181 kilo tonne above the comparable 2017 total. Chinese trade data has just become available following a six-month delay for technical reasons. Chinese smelter/refinery output increased by 69 kilo tonne compared with 2017 and apparent demand was 73 kilo tonne higher than in the previous year.

World apparent demand was 134 kilo tonne higher than the previous year. No allowance is made in the consumption calculation for unreported stock changes

In September 2018, nickel smelter/refinery production was 185.7 kilo tonne and consumption was 195.4 kilo tonne.

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Posted By : Nanda Koijam on Mon, 26 Nov 2018
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