Nickel long-term forecast

Access price data and market intelligence to give you a transparent view of how the nickel market will evolve

Our nickel long-term forecasts are part of a set of products including long-term forecasts for lithium, cobalt, graphite, copper, manganese sulfate and recycled materials

Nickel is critical to electric vehicle (EV) and energy storage system (ESS) growth, as well as to support traditional uses. But the nickel market itself is in flux as new supply comes online and new methods emerge to expand battery-grade nickel.

As well as its use in EV batteries, roughly 70% of global production is for stainless steel – particularly in China. End-use markets for stainless steel are strong, including construction and automotive, as well as appliances and flatware.

The Fastmarkets nickel long-term forecast leverages our heritage in providing price data and market intelligence in the nickel market. These insights are paired with expert economic modeling and data to provide market participants and investors with unmatched clarity on how the nickel market will evolve in the next 10 years.

The 10-year nickel long-term forecast includes:

  • Price forecasts for the LME nickel price and the nickel sulfate premium 
  • Supply/demand balances for nickel across the 10-year horizon 
  • Analysis of the pricing mechanisms used, including the use of premiums 
  • Covers ramp up of MHP and matte production in Indonesia and build out of refining capacities for battery grade nickel sulfate 
  • Demand analysis by vehicle type and cathode chemistries, and traditional uses 
  • Access to expert analysts 

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Li-Cycle announced on Thursday October 31 that it had entered an agreement with Glencore to sell 100% of the premium nickel-cobalt mixed hydroxide precipitate (MHP) production at its stalled hub in Rochester, New York – a step that could support Li-Cycle’s efforts to finalize a loan with the US Department of Energy (DOE).

Quarterly figures released by global miner Glencore on Wednesday October 30 showed that zinc concentrate output was dropping in a tight market while overall nickel output was down despite an increase in briquettes.

Nickel premiums remained stable worldwide, with the London Metal Exchange’s three-month nickel price hitting its lowest point since mid-September.

Read Fastmarkets’ monthly battery raw materials market update for October 2024, focusing on raw materials including lithium, cobalt, nickel, graphite and more

Market participants shared insight into the market dynamics for copper, nickel, zinc, lead and tin during LME Week, which ran September 30-October 4

Read the full transcript from episode 6 of Fast Forward podcast on trading power and the role of the London Metal Exchange (LME) in the energy transition with CEO Matthew Chamberlain.

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