November 18, 2021

Cobalt and nickel supply tightness will challenge the electrification of transport - IFA panelists

Production of key battery raw materials cobalt and nickel will remain tight and will pose challenges to the electrification of transport, panelists said on Monday November 15 during Fastmarkets’ International Ferro-alloys Conference in Prague.

“This year was really the first year that we saw a step change in nickel demand caused by demand from the electric vehicles (EV) sector and we saw nickel consumption from the EV sector up by more than 100%," chief executive officer of Canada Nickel Company, Mark Selby, said during the session titled 'Battery market growth and ferroalloy consumption trends'. "We’ll see 50-100% growth rate for the next 2-3 years and the big issue is getting enough nickel in the right form temporarily; it’s a huge opportunity going forward,” Selby added.