Battery boom promises new and growing market for high-grade nickel products, but half the world's supply of the metal is unsuitable for battery production.
Prices for cobalt metal, used in production of electric vehicle batteries, have tripled to nine-year peaks above $30 a pound from below $10 a pound in late 2015.
China’s top nickel producer, will next year start building a new project in Guangxi that will produce raw materials for electric vehicle (EV) batteries, its chairman said, looking to tap the sector’s “explosive” demand.
