Sumitomo Metal sees global nickel demand for battery use at 410,000t in 2022
Global demand for nickel used in batteries is expected to rise more than 20% this year.
Global demand for nickel used in batteries is expected to rise more than 20% this year.
The Manibridge project is thought to have numerous high-grade ore zones within a mineralized envelope.
The deal comes at a time of surging raw materials prices, exacerbated by the invasion of Ukraine by Russia.
Low stocks and falling liquidity may be a harbinger of what the LME market will look like in a couple of months time, writes Andy Home.
Since reopening on March 16, Friday was only the second day that the nickel market remained within the LME’s new daily price limits.
Nickel is the metal that has grabbed the most headlines so far this year.
The LME’s handling of the crisis has sparked fury among investors and traders.
Top physical traders warned that eye-watering margin calls are forcing them to reduce their activity.
Prices are now broadly in line with nickel contracts on the Shanghai Futures Exchange.
The flurry of deals on Tuesday came as LME prices moved back into line with nickel contracts trading on the Shanghai Futures Exchange, which remained open during a weeklong suspension of trading.