The latest report published by the World Metal Statistics Bureau (WBMS) shows that in April 2024, the global refined nickel production was 293,600 tons, the consumption was 281,600 tons, and the supply surplus was 12,000 tons.

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.

According to Full Year 2023 Production Report released by Glencore, nickel volumes fell 9%, owing to higher third-party production at INO and Murrin Murrin maintenance.

Nickel Industries reported record quarterly output from its rotary kiln electric furnace (RKEF) projects.

Russian metals producer Nornickel on Monday said it expected a further decline in nickel output this year, hit by adverse geopolitical risks and postponed furnace repairs, following on from a drop in production in 2023.

For the calendar year ending December 31, 2023 Ramu produced 33,604 tonnes of nickel and 3,072 tonnes of cobalt contained in mixed hydroxide precipitate (“MHP”), exceeding Ramu’s design capacity for a 7th consecutive year.

China imported 679,934.52 tons of ferronickel in November 2023, down 25% month-on-month and up 14.3% year-on-year, according to customs data.

China imported 3,868,780.81 tons of nickel ore in November 2023, down 26.3% month-on-month and 5.5% year-on-year, according to customs data.