Global nickel market sees 13,400t surplus in January – INSG

Credit: LME

The global nickel market had a surplus of 13,400 metric tons in January, down from a surplus of 23,100 metric tons a year earlier, data from the International Nickel Study Group (INSG) showed on Thursday.

It was also down sharply from a surplus of 28,900 metric tons in December 2023.

In 2023, the nickel market surplus widened to 238,800 metric tons from 103,900 metric tons in 2022, the data showed.

Data below in thousands of metric tons:

Jan 2024Jan 2023Dec 2023FY 2023FY 2022
Mine production289.9263.2313.83,675.73,208.2
Refined production282.2256.4294.53,344.73,058.7
Refined usage268.9233.4265.63,105.92,954.8

(By Anjana Anil; Editing by David Gregorio)


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