According to the World Bureau of Metal Statistics (WBMS), in 2019, the total production of refined nickel was around 2.408 million tons, slightly lower than the demand’s 2.41 million tons.

In the previous year, which is 2018, the gap between the supply and demand of refined nickel in the world was around 98,700 tons.

Combined both information, although the supply was still lower than the demand, due to the increasing speed on supply, the gab would be expected to further narrow, even be exceeded.