According to the latest report from the World Bureau of Metal Statistics (WBMS), the global refined nickel market had a supply surplus in October. Worldwide refined nickel production in the month reached 326,400 tons, while consumption was 297,200 tons, resulting in a surplus of 29,200 tons.

In the first ten months of this year, global production totaled 3.2046 million tons against a consumption of 2.8666 million tons, indicating a cumulative supply surplus of 338,000 tons.

Global nickel ore production in October was 342,600 tons, and the output in the January-October period amounted to 3.5574 million tons.