According to the data compiled and released by International Nickel Study Group, the supply and demand of nickel in the world for July 2008 were

Nickel production – 117,800 tonnes as compared with 118,300 tonnes in June 2008

Nickel consumption – 107,900 tonnes as compare with 110,600 tonnes for June 2008

Consequently, the world supply of nickel in July 2008 still came to an excess of 9,900 tonnes in comparison with an excess of 7,700 tonnes in the previous month of June. However, a surplus of 9,900 tonnes in July 2008 shrunk to a large extent compared with an excess of 20,400 tonnes in July 2007.

The supply and demand of nickel in the world has continued on an oversupply since March of 2007 and this tone has remained unchanged even in 2008. The world production of nickel has been decreased in some months from the beginning of 2008 and the world supply of nickel in 2008 is being put the brake on an increase. However, a phenomenon, which the reduced production of stainless steel has caused an inability to enlarge nickel consumption, has arisen and, consequently, an oversupply of nickel on monthly base has been not improved.