Great article by Steelguru Boston Consulting Group. Nickel:...

Great article by Steelguru Boston Consulting Group.

Nickel:

Tightness in Nickel Class 1 is around the corner.

Solid demand growth for Class 1 from EV market and drop in inventory levels by 2019.

Market supply will need to process Laterite ores into Class 1 or develop high-cost Sulphide mines.

Both types come at high cost so expect price of Class 1 to rise and decouple from lower grades.

Battery grade Nickel prices to exceed USD 20,000 per tonne in 2021 until 2025.

Mining companies are trying to expand production but are operating at high end of cost curve.

Prices to tend to the high end of analysts forecasts.

Cobalt:

Prices to ease if fear factor eases.

GLTAH