WBMS: Global refined nickel supply is short by 6,800 tons in July 2024

WBMS: Global refined nickel oversupply was 1,500 tons in June 2024

The latest report published by the World Metal Statistics Bureau (WBMS) shows that in May 2024, the global refined nickel production was 281,800 tons, the consumption was 283,500 tons, and the supply shortage was 1,700 tons.

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.