World nickel market in surplus

Print this page Posted on : 02-24-2009 by recycleinme.com

The world nickel market was in 54,100 tonne surplus in 2008, the World Bureau of Metal Statistics said. Mine production was down 1.3 per cent at 1.54 million tonnes in 2008 while refined production fell 5.9 per cent to 1.37 million tonnes due to lower mining output in China and Japan. Refined production in 2008 was 1.37 million tonnes and demand was 1.32 million tonnes. World demand fell 2.8 per cent in 2008. No allowance is made in the consumption calculation for unreported stock changes. In December nickel smelter production was 115,800 tonnes and consumption was 105,100 tonnes.

Source : Business Line