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INSG global nickel to oversupply 60 thousand tons this year

According to the statistics of International Nickel Study Group (INSG), global nickel would have surplus of 60 thousand tons this year; while, it had a deficit of 30 thousand tons in 2010.

In addition, the report indicated that the global nickel production is likely to increase gradually this year. Thus, if the production is ahead of the schedule, the nickel inventory will increase rapidly.

Meanwhile, it’s predicted that the global nickel production would reach 1.6 million tons this year in comparison of 1.44 million tons last year. Also, the nickel consumption is expected to reach 1.54 million tons this year compared to 1.47 million tons in 2010.