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Nickel market surplus narrows to 9,200 tonnes in November, INSG says
Refined nickel. Credit: Glencore
The global nickel market was oversupplied by 9,200 tonnes in November after a 15,000-tonne surplus in October, data from Lisbon-based International Nickel Study Group (INSG) showed on Thursday.
During the first 11 months of the year, the global market was oversupplied by 90,700 tonnes compared with a deficit of 168,400 tonnes in the same period of 2021, according to INSG data.
Data below in thousands of tonnes.
| Nov-22 | Oct-22 | Jan-Nov 2022 | Jan-Nov 2021 | |
| Mine production | 275.6 | 279.8 | 2896.4 | 2471.4 |
| Refined production | 270.8 | 279.6 | 2748.2 | 2369 |
| Refined usage | 261.6 | 264.6 | 2657.5 | 2537.4 |
| Balance | 9.2 | 15 | 90.7 | -168.4 |
(By Peter Hobson; Editing by Shounak Dasgupta)
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