SunSirs: New Energy Boosts, Nickel Prices in the Chinese Market Continue to Rise, A Year-on-Year Increase of 35.66%
July 27 2021 08:29:58 SunSirs (Linda)
On the 26th, the price of nickel continued to rise. The spot price of nickel was 147083.33 yuan/ton, an increase of 2.74% from the previous trading day, an increase of 14.79% from the beginning of the year, and a year-on-year increase of 35.66%.
Spot nickel prices continued to rise slightly, with a single-day increase of 4,000 yuan/ton. The increase in nickel prices is related to the increase in demand boosted by the development of the new energy industry. First, the global mining giant BHP Billiton suddenly announced that it has signed a nickel supply agreement with the new energy car giant Tesla, which will be provided by its subsidiary company Western Nickel. Then Toyota suddenly announced that the "bipolar nickel-metal hydride battery" has started mass production applications and has been installed in the hybrid system. On the supply side, due to the weather and the epidemic, the Philippines has relatively few shipments, and nickel ore is very expensive. According to the latest estimates of the International Energy Agency (IEA), the global demand for cobalt and nickel will increase by 20 times in the next 20 years, leading to a shortage of nickel.
Forecast: Supply is tight and demand is optimistic. It is expected that nickel prices will continue to be strong in the short term.
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