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Global Nickel market deficit widens during April

Jun 14,2016
UNITED KINGDOM June 13 2016 4:49 PM

LONDON (Scrap Register): A global  refined nickel market deficit widened to 10,100 tonnes in April from a month  earlier, the International Nickel Study Group (INSG).

Global primary  nickel production of 164,300 tons in April fell short of consumption of 174,400  tons. INSG said in its latest monthly report, as it revised down its deficit for  March to 7,600 tons from 8,200 tons.

For the first four months of the  year, the nickel market moved to a deficit of 7,100 tons from a surplus of  19,900 tons in the same period last year.

Demand rose by 3.4 percent and  output fell by 0.9 percent, the INSG said.

Global producers' stocks of nickel fell to 85,600  tons in February from 88,300 tons in January, the group said.

INSG said  in April that it expected global nickel demand to slightly outpace supply this  year, ending four years of surplus. Output of nickel will drop to 1.913 million  tons in 2016 from 1.983 million last year, it said.

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