Demand for electric vehicles to affect nickel price fluctuations
Time:Tue, 18 Jan 2022 07:17:17 +0800
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Market participants generally believed that the demand for electric vehicles will be the key to the volatility of nickel prices.
According to Russia's Nornickel, the long-term nickel demand outlook will be driven by the continued promotion of electric vehicles by governments. It was estimated that the nickel consumption of the battery sector will account for 30% of the total consumption of the nickel market by 2030.
At the same time, it was estimated that the potential supply and demand gap in the copper market may reach 5-8 million tons, and the gap in the nickel market will also reach 700,000-1 million tons.
