Interesting videohttps://m.youtube.com/watch?v=ETL1L3P-qG8&t=166s
An interesting video, they get into the manusia of nickel production. Overall they are very bullish on nickel demand but somewhat bearish on nickel pricing which seems odd to me.
A couple of points where I think they are out to lunch on is how they see demand from the battery industry. For one, the refer to battery demand as being 3% of global demand but I've heard it referenced as 5% currently and a cursory Google search supports this number . https://www.statista.com/statistics/693415/nickel-consumption-worldwide-by-industry/
The link provides no sources unless you are willing to pay for a subscription but seeing as I have heard the 5% number thrown around before I am willing to take it at face value.
Secondly, they talk about the nickel intensity used in batteries and on this point I am certain they have missed the mark. They believe it will take till 2025-2030 before the industry moves to a 8-1-1 formulation. Tesla/Panasonic already have a formulation that is more nickel intense than that and CATL, the world largest battery producer has announced that they will begin producing 8-1-1 batteries in 2019. LG ,Samsung, and others have also stated their intent to produce such batteries and I would be shocked if they were 7+ years behind their rivals in doing so.
Much of the bearish sentiment they have on pricing for nickel seems to come from the presumption that the Chinese will be able to meet growing Nickel Sulphate demand with NPI using facilities that having yet to be built using economics that have yet to be proven, I guess it's plausible, but I am somewhat septical.