According to data released by the World Bureau of Metals Statistics (WBMS) on October 20, the world's apparent demand for refined nickel in january-August 2021 totaled 1.882,200 mt, about 83,100 mt more than the 1.799,200 mt production. For all of 2020, global refined nickel production exceeded apparent demand by 84,200 tonnes. Reported inventories of nickel held by the London Metal Exchange at the end of August 2021 were 79,000 tonnes lower than at the end of the previous year.
Global nickel production in january-August 2021 was 1.7448 million tons, up 211,000 tons year on year. Smelt/refined nickel production in China increased by 88,200 tonnes year on year during the period, while apparent demand increased by 206,000 tonnes year on year to 1.047,100 tonnes. Smelt/refined nickel production in Indonesia increased 46% yoy to 556,500 mt in January-August 2021, while demand more than doubled yoy to 255,000 mt. Apparent global demand increased by 384,000 tonnes year on year.
Global smelted/refined nickel production in August 2021 was 258,900 tonnes against demand of 285,900 tonnes.
