Nickel - for the steel sector and for e-car batteries
(PresseBox) - The use of nickel is constantly increasing. It is dependent on economic development.
While global demand for nickel was 1.12 million tons in 2000, it had already risen to 1.46 million tons by 2010. In 2020, global nickel demand was 2.38 million tons. Nickel demand has grown by around 3.8 percent annually since 2000. In China alone, nickel demand grew by five percent per year from 2010 to 2020. In 2022, about 3.3 million tons of nickel were produced on earth, of which about 1.6 million tons came from Indonesia, the largest nickel producer. Nickel is mainly used for the production of stainless steels. But the metal is also needed for electric vehicle batteries. According to estimates by the International Nickel Study Group, there will be a nickel surplus in the current year, although this is due to the presence of low-quality nickel. For nickel class one, the market is expected to be tight.
In any case, it is an interesting metal that is increasingly in demand. The metal is processed in consumer and industrial goods, for example in stainless steel, coins, sanitary fittings or certain magnets. Currently, according to estimates, around five percent of global nickel production goes into the manufacture of electric cars. That s not that much yet, but demand from this industry is expected to rise. Nickel is therefore one of the raw materials that stand for net-zero targets and decarbonization.
Nickel, for example, is held by Green Shift Commodities - https://www.commodity-tv.com/ondemand/companies/profil/green-shift-commodities-ltd/ - at its Berlin project in Colombia. Phosphate, uranium and vanadium are also contained there, as is neodymium, which belongs to the rare earth elements. Neodymium is used in powerful magnets to increase efficiency in wind turbines and electric motors.
In Ontario, nickel is available from the Canada Nickel Company - https://www.commodity-tv.com/ondemand/companies/profil/canada-nickel-company-inc/ - at the Crawford project. This also has cobalt, making it another battery raw material.
Current corporate information and press releases from Canada Nickel Company (- https://www.resource-capital.ch/en/companies/canada-nickel-company-inc/ -).
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Datum: 28.07.2023 - 09:37 Uhr
Sprache: Deutsch
News-ID 688343
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