The global nickel market had a surplus of 28,600 metric tons in July, compared with a surplus of 15,900 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Thursday.

World crude steel production for the 63 countries reporting to the World Steel Association (worldsteel) was 158.8 million tonnes (Mt) in June 2023, a 0.1% decrease compared to June 2022.

The world stainless association released figures for the first three months of 2023 showing that stainless steel melt shop production decreased by 5.0% year–on–year to 13.7 million metric tons.

The global nickel market had a surplus of 20,500 metric tons in April, compared with a deficit of 2,600 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on June 21.

In May this year, Russia's stainless steel imports totaled 46,250 mt, down by 10.3 percent month-on-month, according to Russia-based SpetsStal Association.

The Philippines' nickel ore output in the first quarter totalled 4 million dry metric tonnes (dmt), up 5.3% versus the 3.8 million dmt produced in the same period last year, the Mines and Geosciences Bureau said on June 7.

In the week ending on May 27, 2023, according to data of AISI, US domestic raw steel production was 1,737,000 net tons while the capability utilization rate was 77.2 percent.

Finished Import Market Share YTD at 23%.