From January to December 2020, the global nickel market is oversupplied by 53,200 tons.
For the whole of 2019, the global nickel market was short by 27,600 tons.
At the end of December 2020, reported nickel stocks held by the LME were 94,700 tonnes above the level at the end of 2019.
In the January-December period of 2020, global refined nickel production totaled 2,419,100 tons and demand 2,365,900 tons.
From January to December 2020, global nickel production from mines was 2.2735 million tons, 321,000 tons lower than the same period in 2019.
China's smelter/refinery production was down 124,000 tons from the same period in 2019, while apparent demand was 1,309,700 tons, an increase of 5,000 tons year on year.
Global apparent demand in the January-December period was 66,000 tonnes lower than the same period last year.
In December 2020, global smelter/refiner nickel capacity was 216,700 tons and demand was 220,300 tons.
PUDA Nickle packing euqipment:
