According to report of World Bureau of Metal Statistics (WBMS), the global nickel supply was in a surplus of 26,000 tons in the first five months of this year.
Until the end of May, the nickel stocks at LME rose by 9,400 tons, compared to that in the same period of last year.
In the first five months of this year, the global refined nickel output totaled 711,600 tons; however, the apparent demand for refined nickel was at 685,600 tons.
In the given period of time, the global nickel production amounted to 795,400 tons, increasing by 132,000 tons in comparison of that in the same period of a year ago.