Global Nickel Market Surplus on the Decline

Scrap Monster reported that according to the International Nickel Study Group, the global nickel market surplus came to a total of 3,600 tons in March. That’s a 52.6-percent decline from the same month last year.

As quoted in the market news:

The nickel surplus in March dropped when compared with the previous month. The global nickel surplus fell by 25% month-on-month during March. The production of Nickel during the month of February this year exceeded the monthly demand by 4,800 tons.

INSG notes that that the global nickel surplus during the three-month period from January to March this year dropped significantly over the previous year. The surplus narrowed to almost one-third during the initial three-month period of the year. The global surplus of nickel dropped from 38,900 tons during January to March 2013 to 13,400 tons during the corresponding three-month period this year.

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