WBMS: Global refined nickel market posts 13,400-ton deficit in May

The global refined nickel market recorded a supply shortfall of 13,400 metric tons in May 2026, according to data from the World Bureau of Metal Statistics (WBMS). Monthly global demand totaled 314,700 tons, exceeding production of 301,300 tons during the period. Global nickel ore output for May reached 337,600 tons. Despite the monthly deficit, the market remained in surplus over the first five months of the year. Cumulative refined nickel production from January to May 2026 stood at 1.5006 million tons, surpassing total consumption of 1.474 million tons and resulting in a 26,500-ton surplus. For the same January–May period, worldwide nickel ore production reached 1.645 million tons.