Global nickel market surplus widens in July – INSG

Sorowako, Indonesia. The city’s electricity supports nickel mining in the country. Stock image.

The global nickel market had a surplus of 28,600 metric tons in July, compared with a surplus of 15,900 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Thursday.

That compares with a surplus of 25,400 metric tons in June 2023, Lisbon-based INSG added.

Data below in thousands of tons:

July 2023July2022June20232022
Mine production335.7288.0320.43,203.5
Refined production293.0257.1284.53,058.6
Refined Usage264.4241.3259.12,956.4
*Balance between refined production and usage

(By Polina Devitt; Editing by Jane Merriman)


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