The refined nickel market deficit is expected to nearly halve to around 80,000 tonnes this year from almost 150,000 tonnes in 2018, the International Nickel Study Group said on Wednesday June 5.
"The nickel market has been in deficit since 2016. This year, the deficit is expected to be smaller than in 2018 at around 80,000 tonnes," Richardo Ferreira, director of market research and statistics, told delegates at the conference in Amsterdam. The year started on a weak note but nickel demand picked up in March, mainly fueled by stronger stainless steel production in China, he said. The INSG expects global nickel usage to increase by 5.8% this year to 2.464 million tonnes, almost entirely driven...