Battery nickel demand set to triple by 2030Excerpt:”The current...

Battery nickel demand set to triple by 2030Excerpt:”The current bearishness permeating the nickel market belies the fact that battery nickel demand is undergoing a period of rapid growth.” ”While softer-than-expected demand and massive supply-side expansions have helped drag nickel prices to their lowest level since 2020, battery nickel demand is set to record strong growth of 27% year-on-year in 2024.””And long term demand prospects remain bullish: Benchmark projections indicate that nickel-based chemistries will capture 85% battery cell production capacity outside of China by 2030, with production increasingly pivoting towards high-nickel chemistry longer-term””According to the Benchmark Nickel Forecast, batteries are projected to account for over 50% of nickel demand growth by 2030, reaching 1.5 million tonnes of nickel demand by the end of the decade.”https://source.benchmarkminerals.com/article/battery-nickel-demand-set-to-triple-by-2030