The global nickel market recorded a deficit of 41,100mt in H1 2021 against a surplus of 92,700mt reported at the end of 2020, according to the World Bureau of Metal Statistics (WBMS).
Nickel mine production increased by 193,000mt to 1.28mn mt in the January to June period compared to H1 2020. In the six-month timeframe, Chinese smelter and refinery production climbed by 61,000mt while demand in the Asian nation increased by 138,000mt to 706,100mt from the same six-month period in 2020.
Global nickel demand increased by 255,000mt to 1.3mn mt in the first half of the year compared to H1 2020. Global nickel refinery and smelter production in June was 244,000mt while demand was 238,400mt, WBMS reported.