Bank of America: Electric vehicles may lead nickel market
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Update time : 2021-08-27 16:13:15
According to a report from Bank of America (BAC), the growing electric vehicle industry is challenging the dominant position of nickel and may replace nickel to become a lead driver of global nickel prices in the next few years, although nickel is now accounting for 70% of the nickel market.
BAC said that the sale volume of electric vehicles will rise gradually, and the penetration rate will reach 51% by 2030. The nickel consumption demand was expected to grow to slightly less than 1.8 million tons by 2030, compared to 200,000 tons this year. Most of the new nickel supply may come from Indonesia.
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