Global nickel market in small surplus

The global market for refined nickel shifted towards a slight surplus in March following an increase in production outstripping robust global demand, as shown by the International Nickel Study Group figures.

Global production of refined in March rose more than 5 percent to 173,100 tons compared to February, mainly due to a jump in Chinese production. At the same time, demand slightly changed slightly in the first quarter, however, the market was in even larger deficit than last year.