Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2020 | Ferro-alloys

EV rebound may spring bullish surprise this year: Nickel Highlights

Full-year figures from the China Association of Automobile Manufactures (CAAM) are now in. At 1.206 million and 1.242 million units, total NEV sales and production, respectively, contracted 4% and 2.3% in 2019 versus 2018.

While the battery market still only accounts for around 5-6% of nickel market share versus stainless steel’s 60%-plus, we have seen on numerous occasions in the recent past that developments in the EV and Li-ion battery sector can have a disproportionately large impact on nickel market sentiment and price direction. With almost a complacent bullishness over the outlook for EV sales, it is understandable that nickel bulls were in shock last year when growth in the key Chinese market went into reverse from July after the government cut subsidies.

Full-year figures from...


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