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The Nickel market is in deficit

26 August 2016

The world Bureau of metals statistics published the Balance of Metals. In accordance with it on the market of Nickel deficient. From January to June 2016, not only Nickel, but tin and zinc exhibit an insufficient number. For a specified period of six months on the global market there was an excess of Nickel in the amount 80800 tons. The need for metal obviously exceeded the level of production. The volume of the positive balance amounted to 45.2 thousand tons for all of last year. The output of the Nickel mines reached 956,7 thousand tons for the first half of 2016. The result is lower compared to the same period of the previous year to 100.4 thousand tonnes. Purchases of refined Nickel during the first six months increased by 134000 tons. Comparison was made relative to the same period of last year.

The global zinc market over the six months of marked shortage. According to the Bureau, it amounted to 32,000 tonnes for the period. During 2015 it was noted the excess metal. At the global level, it amounted to 167000 tons. Overall, production of refined zinc in the world fell by 4.8% in the first half of 2016. However, the elaboration of zinc Chinese manufacturers fell slightly. Regarding 2015 changes amounted to 0.7%.

According to statistics, the global market for tin watching a small deficit. It reached 7.2 thousand tons during the first half of this year. World production of refined tin shows some increase of 12.80 tons. Manufacturing in Asia is 151,9 thousand tons in January-June this year. This figure compared to last year’s same period increased by 138,9 thousand tons.

The cost of Nickel in the third quarter increased by more than 10%. This is due to the actions of the government of the Philippines. The government is closing mines limited mining industry. Of course, stopping only to those enterprises which do not meet international standards. Such strict measures have stopped work at eight mines. However, now it is Philippines for China are the preferred supplier. The change in value has already provoked a substantial correction in the Nickel market. Stopped the mine in 2015, produced 2.6 million tons of raw materials. Of the total generation in the country the number is 8%. In the world supply this amount represents 2%.

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