The World Bureau of Metal Statistics announced that the nickel market was in deficit during January to July 2022 with apparent demand exceeding production by 48.0 kt. In the whole of 2021, the calculated deficit was 150.5 kt. Reported stocks held in the LME (Including Off warrant stocks) at the end of July 2022 were 41.7 kt lower than at the end of the previous year. Refined production in January to July 2022 totalled 1600.2 kt and demand was 1648.3 kt.Mine production during January to July 2022 was 1728.3 kt, 215 kt above the comparable 2021 total. Chinese smelter/refinery output fell by 44.5 kt compared with the first seven months 2021 and apparent demand in China was 891.9 kt, 19.8 kt higher than in the previous year. In Indonesia, smelter/refinery production in January to July 2022 was 586.2 kt which is 18 per cent higher than 2021.World apparent demand was 49 kt higher in January to July 2022 than the previous year. No allowance is made in the consumption calculation for unreported stock changes. Demand is measured on an apparent basis and it is likely that the full effects of national lockdowns have not been fully reflected in the trade statistics.July metal balances for nickel smelter/refinery recorded production at 242.6 kt and demand was 235.6 kt.
The World Bureau of Metal Statistics announced that the nickel market was in deficit during January to July 2022 with apparent demand exceeding production by 48.0 kt. In the whole of 2021, the calculated deficit was 150.5 kt. Reported stocks held in the LME (Including Off warrant stocks) at the end of July 2022 were 41.7 kt lower than at the end of the previous year. Refined production in January to July 2022 totalled 1600.2 kt and demand was 1648.3 kt.Mine production during January to July 2022 was 1728.3 kt, 215 kt above the comparable 2021 total. Chinese smelter/refinery output fell by 44.5 kt compared with the first seven months 2021 and apparent demand in China was 891.9 kt, 19.8 kt higher than in the previous year. In Indonesia, smelter/refinery production in January to July 2022 was 586.2 kt which is 18 per cent higher than 2021.World apparent demand was 49 kt higher in January to July 2022 than the previous year. No allowance is made in the consumption calculation for unreported stock changes. Demand is measured on an apparent basis and it is likely that the full effects of national lockdowns have not been fully reflected in the trade statistics.July metal balances for nickel smelter/refinery recorded production at 242.6 kt and demand was 235.6 kt.
