Page 686 - ANC20-Proceedings-Presentations-Full

Nickel market developments: Nickel sulphate

Volatility characteristic of nickel and nickel sulphatemarkets

…market in Indonesia announces to
22,000 structural deficit bring forward the export Market moved into
in late 2017 ban of unprocessed ores surplus in Q1 amid
Indonesia bans exports of in Sep 2019 and draw COVID-19 pandemic
20,000
unprocessed ores in 2014 …but global primary supply down of stocks Stronger
18,000 does not fall. Market Indonesia eases export ban stainless
demand in
remains in surplus of low-grade ores in 2017 China, combined
16,000 Operations with Chineseraw
suspended material
14,000 shortage fears
sends price rising
12,000

10,000
Premium
Strong demand in
8,000 EV demand started to recovered in 2017,
emerge in early2014 Chinese market in Premium crashed hitting the record Premium fell into negative
6,000 H2 2015 in 2016 after high territory owing to Chinese Premium
capacity EVsubsidy cut in H2 2019 recovered in Q1
4,000 expansions in amid tight
China supply
2,000

0

-2,000 Negative
premium in
August due to
LME nickel price (US/t Ni) Battery grade premium (US$/tNi) oversupplied
market