Let the drill bit do the talking., page-14

Nickel market records deficit in January to September 2018

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

Mine production during January to September was 1686 kt, 181 kt 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 kt compared with 2017 and apparent demand was 73 kt higher than in the previous year.

World apparent demand was 134 kt 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 kt and consumption was 195.4 kt.

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