Global nickel market in 20,500 tonne surplus in April

Nickel nodule. (Reference image by Paul, Flickr under CC BY-NC-SA 2.0.)

The global nickel market had a surplus of 20,500 metric tons in April, compared with a deficit of 2,600 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Wednesday.

That compares with a surplus of 5,900 tons in March 2023, Lisbon-based INSG added.

Data below in thousands of tons:

April 2023April 2022March 20232022
Mine production291.4254.9272.03,211.4
Refined production264.1242.7254.63,059.4
Refined Usage243.6245.4248.72,956.4
Balance*20.5-2.65.9103.0
* Balance between refined production and usage

(By Brijesh Patel; Editing by David Goodman)

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