The stocks in warehouses of LME were 46400 tons lower in December ending 2011, compared to December ending 2010. The total mined Nickel production was 1.81 million tons in Jan-Dec 2011 that was up by 297300 tons from Jan-Dec 2010.
The total refined Nickel production in Jan-Dec 2011 was 1.78 million tons.
In December 2011, Nickel smelter production was 159800 tons. Refined Nickel consumption in Jan-Dec 2011 stood at 1.79 million tons. The apparent consumption was 288000 tons in Jan-Dec 2011 than previous year. In December 2011, Nickel smelter consumption was 164400 tons.
In futures markets, Nickel three month forwards is seen trading at $ 19927 per ton, compared to $ 20325 per ton on Wednesday. MCX Nickel is trading at Rs 989 per kg, down from Rs 996 per kg on Wednesday.
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