From January to September 2021, the global nickel market is short of 108,500 tons

According to a report released by the World Bureau of Metal Statistics (WBMS) on Wednesday, the global nickel market was short of 108,500 tons from January to September 2021. In 2020, the market has a surplus of 84,000 tons.

At the end of September, the nickel inventory held by LME warehouses decreased by 117,000 tons from the end of last year.

The total refined nickel output from January to September 2021 is 2.0432 million tons, and the demand is 2.1517 million tons.

From January to September of 2021, nickel mine output was 1,973,300 tons, an increase of 207,000 tons over the same period in 2020.

China’s refined nickel output increased by 81,000 tons compared with the same period in 2020, and the apparent demand was 1.2194 million tons, an increase of 211,000 tons year-on-year.

Indonesia’s refined nickel output from January to September 2021 was 632,600 tons, an increase of 43% over the same period last year, and demand nearly doubled to 287,900 tons.

The apparent global demand increased by 400,000 tons year-on-year.

Unreported inventory changes are not included in the consumption statistics. Demand is measured by apparent data, and nationwide blockade measures may affect trade statistics.

In September 2021, the global refined nickel production was 253,200 tons, and the demand was 275,300 tons.