Hey Gretzky go to where the puck is going !!!Nickel demand from the EV sector is expected to grow globally by 2.6Mt Ni to 2040, up from only 92kt Ni in 2020, and by 543kt Ni from 17kt Ni in 2020 within the European Union, according to a new report.
Macquarie analyst Jim Lennon expects nickel consumption to grow 17% this year to 2.8 million tonnes.
"Stainless steel production, the main use of nickel, is set to grow by 16% this year, adding 250,000 tonnes to nickel demand. Nickel used in batteries is set to grow by 100,000 tonnes this year to around 290,000 tonnes," Lennon said.