Nickel hits seven year high – 2021 in review

Nickel climbed to seven-year highs in 2021, as a series of supply curtailments, in tandem with a stronger-than-expected recovery in stainless-steel production and robust growth in the battery sector led the market to swing into a deficit, writes Benchmark analyst Greg Miller.

Whilst much of the  discourse in 2021 centred around the growing utilisation of lithium iron phosphate (LFP) batteries  in China and the potential impact on the future uptake of NCM technologies in EVs, battery sector nickel demand continued to perform robustly throughout the year, recording a 42% y-o-y increase according to the . . .


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