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MTECHTIPS:-Nickel Markets in Deficit of 28000 Tonnes in January- June 2015f

MTECHTIPS:-Nickel Markets in Deficit of 28000 Tonnes in January- June 2015

The markets of Nickel shifted to deficit of 28000 tonnes in January- June 2015 period as per the estimates of World Bureau of Metal Statistics (WBMS). The report mentioned that in the whole of 2014 the calculated surplus was 196100 tonnes. Reported stocks held in the LME at the end of June were 42000 tonnes higher than at the end of the previous year. Refined production in January to June totalled 791000 tonnes and demand was 919000 tonnes. Mine production during January to June was 908100 tonnes, which was 66400 tonnes above the comparable 2014. The Indonesian export ban and the assumed drastic decline in local mine production began at the beginning of 2014. Japanese smelter/refinery output increased by 10800 tonnes compared with 2014 and apparent demand was 2400 tonnes higher than in the previous year. World apparent demand was 61000 tonnes higher than the previous year. In June 2015, nickel smelter/refinery production was 167200 tonnes and consumption was 198000 tonnes.

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