Great update on forecast nickel demand driving share price

Here are great updates on demand for electric vehicles and stainless steel, driving nickel price and share price.

Also check out the graph of where SGQ is in the mine cycle, also driving share price, and building excitement about upcoming drill results after initial discoveries.

ELECTRIC VEHICLES

Analysis from IDTechEx has forecast that sales of electric vehicles are on track to surpass five million units this year – counting only passenger cars. “If they do, it will mean an astonishing growth rate of ~86% CAGR since 2011,” the report reads.In this regard, the EV market is demonstrating its robust nature as, despite the disruption caused by Covid-19, the market was able to grow.

Political inducements have supported this. For instance, in the US, President Joe Biden set out a $174m commitment to support electric vehicle uptake, from charging infrastructure to topping up the federal tax credit, and his proposed new target of reaching 50% electrification by 2030.

IDTechEx provides independent market research, business intelligence and events on emerging technology to clients in over 80 countries since 1999.

STAINLESS STEEL

MEPS advises that, notwithstanding growing production volumes worldwide, shortages of stainless steel are reported in most markets.

Global end-user consumption is healthy, due to economic stimulus packages and positive post-pandemic outlooks. Low stock levels are exacerbating substantial supply deficits.

Consequently, prices are likely to face continued upward pressure, in the
medium term.

MEPS International Ltd. is a leading steel market analysis company, specialising in independently researched global steel prices, indices, and forecasts.