Demand for nickel in sulphate from the electric vehicle (EV) market is expected to reach some 800 000 t/y by 2035, while production is expected to rise from the 211 000 t produced in 2019 to peak at 450 000 t by 2027, says consultancy firm Wood Mackenzie (Woodmac).
“Existing and would-be nickel producers are being drawn to the possibility of manufacturing sulphate to benefit from perceived premiums payable on nickel sulphate sales. While premiums have long been recognised in the plating sector, it is less clear in the EV battery space. The only visibility on pricing is Chinese selling prices,” Woodmac research director Andrew Mitchell said.