Global nickel market to face supply shortages & demand destruction
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Update time : 2022-04-07 20:34:35
The Bank of America (BoA) analysis stated that the nickel market had tightened significantly after years of oversupply due to a dislocation of supply and demand.
Supply growth was primarily for secondary unrefined nickel for stainless steel, while demand growth was primarily for a battery-grade primary refined nickel.
A tight market has led to a steady decline in inventories, a premium on the LME, and rising prices. As a result, the global nickel market could face a shortage of battery-grade nickel, while demand disruption will affect electric vehicle (EV) makers and stainless steel mills.
