INTERVIEW: EV battery demand will have little effect on nickel market in near future - Nornickel

Nornickel, the world’s largest refined nickel producer, is skeptical that electric vehicle (EV) and battery demand will spur the nickel market higher in the near and mid-terms.

Company officials said in an interview with Metal Bulletin on Monday November 20 they have a flat view of the market in the mid-term and are bullish in the longer term. “The story is not as bullish as it may seem to some people,” Anton Berlin, marketing director at Nornickel, said. Since the beginning of the year, the three-month nickel price has jumped up by around 13%, trading close to $12,000 per tonne on the London Metal Exchange. Earlier this month during LME Week, nickel touched $13,000 per tonne, partially on bullishness surrounding nickel’s prospects in the EV segment. On the physical markets, premiums have followed an upward trend as well. Metal Bulletin...

Published

Justin Yang

November 20, 2017

15:04 GMT

London