WBMS: Global nickel supply shortage of 49,800 tons from January to June 2022
August 18, 2022
On August 17, 2022, the latest report data from the World Bureau of Metal Statistics (WBMS) showed that the global nickel supply shortage was 49,800 tons from January to June 2022, and the nickel supply shortage in 2021 was 146,800 tons.
As of June 2022, LME reported inventories (including non-warehouse receipts) were 34,200 tonnes lower than in 2021 year-on-year.
From January to June 2022, the global refined nickel production was 1.365 million tons, and the demand was 1.4149 million tons.
From January to June 2022, the global nickel mine production was 1.4726 million tons, an increase of 195,000 tons over the same period last year.
From January to June 2022, the output of Chinese smelters decreased by 30,000 tons year-on-year, and the apparent demand was 761,300 tons, a year-on-year increase of 39,000 tons. The output of Indonesian smelters was 506,400 tons, an increase of about 20% year-on-year.
From January to June 2022, global apparent demand increased by 73,000 tons year-on-year.
In June 2022, the global nickel smelter output was 245,300 tons, and the demand was 244,700 tons.
In consumption calculations, no allowance is made for unreported changes in inventory. Demand is measured on an apparent basis, and the full impact of national lockdowns is likely not fully reflected in trade statistics.