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-22Oct-22Jan-Nov 2022Jan-Nov 2021
Mine production275.6279.82896.42471.4
Refined production270.8279.62748.22369
Refined usage261.6264.62657.52537.4

(By Peter Hobson; Editing by Shounak Dasgupta)


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