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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Read some of the latest market coverage coming from our team of price reporters, researchers and editorial team from across the globe

A host of Chinese battery manufacturers have been increasing their production of electrolytic nickel to reap gains from strong futures prices because the growth in downstream demand for electric vehicles (EVs) is slowing, Fastmarkets heard on Tuesday May 21

A wave of restocking throughout the first quarter of 2024 provided some relief in the ternary battery raw materials market in China, stopping the declines in prices for various products that had been seen late last year

Fastmarkets’ initial low-carbon premium for nickel briquettes captured existing regional price differences, with growing awareness and legislative incentives indicating there is potential for a strong market to emerge

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