The value of nickel beyond 2019 Nickel prices saw a major spike...

The value of nickel beyond 2019

• Nickel prices saw a major spike in September last year, coinciding with the rise of electric vehicle sales and Indonesia's announced export ban
• The price of the metal reached a five-year high, making it worth over $26,000 per tonne
• This big price hike didn't last, however, as it became apparent the fallout from Indonesia's ban isn't as extreme and initially thought
• Despite this, nickel is forecast to grow in value not just during 2020 but over the next 10 years
• Australia is currently the world's sixth-largest miner of nickel, and the nation's exports contribute over $3 billion to the Australian economy
• Australia's nickel exports are expected to reach a value of $4.7 billion as early as this year
• Analysts say next year nickel's use in creating electric vehicle batteries will be the main driver of growth