Nickel demand18 Jan 2022 19:38
Nickel stockpiles on the London Metal Exchange recently fell for the 51st straight day.
Nickel registered a supply-demand deficit of around 180,000 tons last year.
The combination of strong stainless demand, rising EV demand, and growing but still constrained nickel supply looks set to continue.
Stainless demand remains strong but investors are more excited by the long-awaited ramp-up in electric vehicle demand.
In the U.K., one in four new cars last year was electric. That is a growth curve that holds the prospect for a substantial increase in demand from a sector that had long held promise but traditionally failed to deliver.
Nickel demand in EV's
According to the International Energy Agency, demand for nickel will need to grow 19-fold by 2040 if the world wants to hit the targets of the Paris agreement on climate change.
From www.oilprice.com