According to a report released by the World Bureau of Metal Statistics (WBMS), the global nickel market had a shortage in 2021. The apparent demand exceeded the production by 144,300 tons, compared to a surplus of 84,000 tons in 2020.

In 2021, the global mine nickel production totaled 2.7057 million tons, up by 236,000 tons compared to 2020.

Meanwhile, the global refined nickel production amounted to 2.7876 million tons, and the demand was 2.9319 million tons during the period.