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fortunes reverse as undersupply concerns ease","nickels-fortunes-reverse-as-undersupply-concerns-ease","article/nickels-fortunes-reverse-as-undersupply-concerns-ease",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":712,"featured":50,"reporter":713,"_editable":717,"component":718,"seo_title":553,"categories":719,"visibility":726,"author_company":49,"featured_image":727,"seo_description":712,"author_full_name":49,"author_job_title":49,"formattedDate":732,"formattedArticleDate":733},"8d76653c-3042-472f-870f-4af67a0143b1","2020-02-14 00:00",[],[561],{"slug":562,"name":563,"content":564},"matthew-bird","Matthew Bird",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Senior Editor - Supply Chains & Data Visualisation",{"filename":567},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":571,"content":572},"doc",[573,590,595,608,611,616,621,626,631,638,643,648,653,658,667,676,684,689,709],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577,580,588],{"text":578,"type":579},"Compared with other battery raw materials, nickel prices surged in the second half of 2019 on the back of supply shortage fears with low LME stocks and an ","text",{"text":581,"type":579,"marks":582},"Indonesian ore ban being brought forward two years to 2020",[583],{"type":584,"attrs":585},"link",{"href":586,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://source.benchmarkminerals.com/article/nickel-supply-shock","url",{"text":589,"type":579},".",{"type":574,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":579},"LME stocks are now back at March 2019 levels suggesting that a supply shortfall prompted by the Indonesian ore ban may have been overstated.",{"type":574,"attrs":596,"content":597},{"textAlign":49},[598,600,602,604,606],{"text":599,"type":579},"Only two months down the line and supply shortfall fears have dissipated, with prices following a downward trajectory this year. In January both the ",{"text":601,"type":579},"Benchmark Minerals Nickel Sulphate, >22% Ni, EXW China, RMB/t Price ",{"text":603,"type":579},"and the ",{"text":605,"type":579},"Benchmark Minerals Nickel Sulphate, >22% Ni, CIF Asia, USD/t ",{"text":607,"type":579},"price were down -5.77% and -2.8% respectively.",{"type":574,"attrs":609,"content":610},{"textAlign":49},[],{"type":574,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":579},"Greg Miller, Analyst, Benchmark Minerals, said: “The influx of nickel back into LME registered warehouses has seen a dramatic shift in the market outlook from late last year.”",{"type":574,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":579},"“While it is important to note that LME stock movements provide far from a definitive perspective, surging stocks and the corresponding softening in prices indicate that last year’s supply shortage fears were overstated.”",{"type":574,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":579},"“Shifting market dynamics have been compounded by the recent outbreak of coronavirus in China; and while the medium-term impact of the virus remains an unknown, prolonged market disruption will hit nickel demand from the stainless steel and battery industries further weakening prices.”",{"type":574,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":579},"The short-term consequence of the coronavirus could also see increased interest in non-Chinese sources of nickel from international companies as they look to reduce their reliance on Chinese nickel supply.",{"type":632,"attrs":633,"content":635},"heading",{"level":634,"textAlign":49},6,[636],{"text":637,"type":579},"Stainless steel dominates, HPAL future potential",{"type":574,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":579},"The nickel market is very much dominated by stainless steel consumption, with lithium ion battery demand accounting for only approximately 1% of the nickel market in 2019.",{"type":574,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":579},"While stainless steel production disappointed in the second half of 2019, Benchmark Minerals’ data demand from EV batteries was up approximately 30% y-o-y at the end of last year.",{"type":574,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":579},"The demand for nickel sulphate from the battery industry is set to continue through the 2020s on the back of higher nickel cathode requirements from OEMs. Despite an oversupply of nickel sulphate in the short term, looking at the long-term supply dynamics, future capacity increases hinge on the Indonesian HPAL projects in the pipeline.",{"type":632,"attrs":654,"content":655},{"level":634,"textAlign":49},[656],{"text":657,"type":579},"Further reading on nickel",{"type":574,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":579,"marks":663},"ESG AND NICKEL – WADING THROUGH THE ISSUES",[664],{"type":584,"attrs":665},{"href":666,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://source.benchmarkminerals.com/article/esg-and-nickel-wading-through-the-issues",{"type":574,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":579,"marks":672},"CAN NICKEL SULPHATE RESPOND TO THE LITHIUM ION BATTERY STRUCTURAL SHIFT?",[673],{"type":584,"attrs":674},{"href":675,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://www.benchmarkminerals.com/can-nickel-sulphate-response-to-the-lithium-ion-battery-structural-shift/",{"type":574,"attrs":677,"content":678},{"textAlign":49},[679],{"text":680,"type":579,"marks":681},"NICKEL SUPPLY SHOCK",[682],{"type":584,"attrs":683},{"href":586,"uuid":49,"anchor":49,"target":49,"linktype":587},{"type":632,"attrs":685,"content":686},{"level":634,"textAlign":49},[687],{"text":688,"type":579},"Benchmark Minerals’ nickel sulphate prices",{"type":574,"attrs":690,"content":691},{"textAlign":49},[692,694,700,702,708],{"text":693,"type":579},"Benchmark Mineral Intelligence offers a monthly assessment of nickel sulphate prices. For more information and to arrange a trial fill in ",{"text":695,"type":579,"marks":696},"this form",[697],{"type":584,"attrs":698},{"href":699,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://www.benchmarkminerals.com/contact/",{"text":701,"type":579}," or email us at ",{"text":703,"type":579,"marks":704},"info@benchmarkminerals.com",[705],{"type":584,"attrs":706},{"href":707,"uuid":49,"anchor":49,"target":49,"linktype":587},"mailto:info@benchmarkminerals.com",{"text":589,"type":579},{"type":574,"attrs":710,"content":711},{"textAlign":49},[],"Compared with other battery raw materials, nickel prices surged in the second half of 2019 on the back of supply shortage fears with low LME stocks and an Indonesian ore ban being brought forward two years to 2020. LME stocks are now back at March 2019 levels suggesting that a supply shortfall prompted by the […]",[714],{"slug":562,"name":563,"content":715},{"job_title":565,"image":716,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"8d76653c-3042-472f-870f-4af67a0143b1\", \"id\": \"\"}-->","article",[720,723],{"slug":721,"name":722},"batteries","Batteries",{"slug":724,"name":725},"critical-minerals","Critical Minerals","private",{"id":49,"alt":728,"name":728,"focus":728,"title":728,"source":728,"filename":729,"copyright":728,"fieldtype":730,"meta_data":731,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/f660e92507/bm-benchmark-minerals-nickel-february-2020-e1581690064566.jpg","asset",{"alt":728,"title":728,"source":728,"copyright":728},"Feb 14, 2020","14th February 2020",[],[],1792773941544]