GREY:RNKLF - Post by User
Comment by
Cashabison Sep 27, 2018 11:30am
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Post# 28701193
RE:$haking The Tree
RE:$haking The Tree Market analysts for nickel agree that the demand for nickel is growing and stockpiles that caused a glut in 2017 are shrinking – two signs that bode well for the Sudbury area mining cluster. Early signs of a strengthening demand for nickel surfaced last fall in October 2017, when Bloomberg News wrote about the role the electric car battery will play in boosting the demand for nickel. Bloomberg focused on the need for nickel sulphate, a key ingredient in lithium-ion batteries, that could see demand increase 50 percent to 3 million metric tons by 2030.
Forecasts by Glencore, which operates Sudbury Integrated Nickel Operations, also expect that nickel production will need to increase 1.2 million tons by 2030, equal to more than half of current global output, to keep up with demand from the battery industry.