News: ZMI UPDATE 1-Global nickel market in 21,600 tonne surplus in January -INSG

(Adds detail and table)

March 22 (Reuters) - The global nickel market had a surplus of 21,600 tonnes in January, compared with a deficit of 4,900 tonnes in the same month last year, data from the International Nickel Study Group (INSG) showed on Wednesday.

That compares with a surplus of 21,800 tonnes in December 2022, Lisbon-based INSG added. In 2022 the nickel market was oversupplied by 108,900 tonnes.

Data below in thousands of tonnes:

						  Jan 2023   Jan 2022		2022 
		Mine production	  275.4	  226.3	 3,187.8 
	 Refined production	  259.7	  228.4	 3,021.5 
		  Refined Usage	  238.1	  233.2	 2,912.6 
			  Balance*		21.6	   -4.9	   108.9 
 * Balance between refined production and usage