Sep 22, 2021
According to data released by the World Bureau of Metals Statistics (WBMS) on September 15, the world's apparent demand for refined nickel in January-July 2021 was 1,572,300 tonnes, 44,700 tonnes more than the 1,527,600 tonnes produced. For all of 2020, global refined nickel production exceeded apparent demand by 92,700 tonnes. Reported inventories of nickel held by the London Metal Exchange at the end of July 2021 were 52,000 tonnes lower than at the end of the previous year. Global smelted/refined nickel production in July 2021 was 243,600 tonnes against demand of 252,000 tonnes.
Global nickel ore production in january-July 2021 was 1.511 million tons, up 198,000 tons from the same period last year. Smelt/refined nickel production in China increased by 60,000 tonnes year on year during the period, while apparent demand increased by 151,000 tonnes year on year to 856,400 tonnes.
Smelting/refined nickel production in Indonesia increased 47% yoy to 484,900 mt in January-July 2021, while demand more than doubled yoy to 216,000 mt. Apparent global demand increased by 295,000 tonnes year on year.
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