News: ZMI Global nickel market sees 13,400 metric ton surplus in January -INSG

March 21 (Reuters) - The global nickel market had a surplus of 13,400 metric tons in January, down from a surplus of 23,100 metric tons a year earlier, data from the International Nickel Study Group (INSG) showed on Thursday.

It was also down sharply from a surplus of 28,900 metric tons in December 2023.

In 2023, the nickel market surplus widened to 238,800 metric tons from 103,900 metric tons in 2022, the data showed.

Data below in thousands of metric tons:

			 Jan 2024  Jan 2023  Dec 2023   FY 2023   FY 2022 
 Mine		   289.9	 263.2	 313.8   3,675.7   3,208.2 
 production										   

 Refined		282.2	 256.4	 294.5   3,344.7   3,058.7 
 production										   

 Refined		268.9	 233.4	 265.6   3,105.9   2,954.8 
 usage												

 Balance		 13.4	  23.1	  28.9	 238.8	 103.9