The latest report released by the World Bureau of Metal Statistics (WBMS) showed that the global refined nickel production was around 288,000 tons in September, and consumption was around 285,000 tons, so there was an oversupply of nearly 3,000 tons.

Meanwhile, global nickel ore production was 333,000 tons.

In the January-September period, global refined nickel production amounted to approximately 2.58 million tons, and consumption was 2.54 million tons, so the excess supply was nearly 70,000 tons. During the period, global nickel ore production totaled around 2.72 million tons.