1. Weak nickel market sentiment now but long-term positive
Sentiment remained weak among domestic market participants at the conference because they think both the mild hawkish stance evident in the Federal Open Market Committee (FOMC) minutes and the statement from China’s State Council that it would implement measures to calm the recent overheated commodities markets are headwinds for the nickel market.
The consensus at the conference, however, was that although there has been a retreat in nickel prices on both the London Metal Exchange and Shanghai Futures Exchange, there was no bearish news on the fundamental side and the monetary easing is still needed to prompt a global economic recovery.
Domestic market participants still expect nickel prices to resume in the long run following their near-term correction, Fastmarkets heard.
2. LFP batteries will not replace NCM batteries but grow faster
Whether lithium iron phosphate (LFP) batteries will...