A report released by the World Metals Bureau (WBMS) on Wednesday showed that the global nickel market was in short supply in January-March 2022, with apparent demand exceeding production by 46,100 tonnes.
For all of 2021, the global nickel market was short by 146,900 tonnes. At the end of March 2022, LME warehouse reported inventories (including non-warehouse inventory) were 24,800 tonnes lower than at the end of 2021. Global refined nickel production in January-March 2022 totaled 660,700 tons. The demand is 706,800 tons.
Global mine nickel production in January-March 2022 was 616,700 tons, up 36,000 tons from the same period in 2021. Global apparent demand for January-March 2022 increased by 80,000 tonnes year-on-year. In March, the production of nickel smelters was 222,100 tons, while the demand was 238,000 tons.
