The global nickel market registered a 12,100t deficit in the January-August period, driven mainly by Chinese restocking, according to a statement from the World Bureau of Metals Statistics (WBMS).
However, the nickel market had a surplus of 55,900t in the first six months of 2009, the statement said.
Mine output in January-August fell 6.4% to 932,400t compared to the year-ago period. Meanwhile, refined production declined 3.4% year-over-year on the back of a drop in output by Japan.
The tin market showed an 8,400t surplus in January-August. Total mine production amounted to 203,400t, down 2.9%, while global demand was off 9% at 205,400t, the statement said.
The primary aluminum market had a 1.36Mt surplus in the first eight months of the year, while in copper there was a 71,000t deficit. In lead there was a 6,000t shortage and for zinc there was a 13,000t surplus.