News: ZMI Global nickel market in 11,900 metric ton surplus in May -INSG

July 18 (Reuters) - The global nickel market had a surplus of 11,900 metric tons in May, compared with a surplus of 13,900 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Tuesday.

That compares with a surplus of 18,800 metric tons in April 2023, Lisbon-based INSG added.

Data below in thousands of tons:

						 May		 May		 April	   2022 
						 2023		2022		2023	   
 Mine production		296.4	   272.2		290.3	 3,210.8 
 Refined production	 269.9	   253.3		263.5	 3,058.9 
 Refined Usage		  258.1	   239.4		244.7	 2,956.4 
 Balance*				11.9		13.9		18.8	   102.5 
 * Balance between refined production and usage