LME Nickel Stocks It all still points to an overall increase in Nickel prices as this would be the reason for buying and storing in the first place. I would be just as interested in knowing who it is that owns it because if it is the ned users (ie battery manufacturers) then it is not likely to ever be put back into the market and they will be using it themselves. Is it traders who have the intention of putting it back into the market when the price creeps up? Well if it is then they have extremely deep pockets so not as likely to me. Whichever though it all still points to a rising price in my opinion.
LME Nickel Stocks Already two answers: Silver Coast Research, Contributor Comments230 | Following Author’s reply » Nuno Thanks for spotting this interesting article. But I’m not sure it changes the big picture. We’d need to know how many tons were stored in “hidden” warehouses at the begininng of the year (to be compared with the current 465,000 estimate) to really estimate the impact. Then, the article mentions material being transferred from LME warehouses in Asia to LME warehouses in the Netherlands. I’d expect that to be transparent in terms of LME inventories overall. And finally, the fact that financing deals are on the rise shows that there is growing demand. But it’s good to know these facts nonetheless, and I agree the world is probably not running out of nickel in the short term. John Petersen, Contributor Comments32554 | Following Author’s reply » The thing with nickel is that battery industry requirements will be proportional with cobalt demand, but at a multiple ranging from 3:1 in the case of NCM 622 to 8:1 in the case of NCM 811. So if cobalt demand from the battery industry climbs to 300 or 400 kt per year, nickel demand could easily climb over 1,000 kt per year, a number that’s significantly higher than current global wrought nickel production. It is important to remember, however, that these are multi-year developments and short-term trends are not terribly informative.
LME Nickel Stocks TDT, As I had said and suspected earlier, there is indeed storage for price protection. MINING.com Flow of LME nickel to hidden storage dents bull story | MINING.com 465,000 tonnes of nickel play 'hide and seek'
LME Nickel Stocks MINING.com – 19 Oct 18 NMC batteries dominating EV – sales to reach 63% of global market | MINING.com NMC cathodes currently account for nearly 28% of global EV sales, forecast to grow to 63% by 2027.
LME Nickel Stocks Nickel stored at LME at 228.900! Who can confirm???
LME Nickel Stocks Hi nuno, There seems to be so many mixed messages out there. Up - down, good - bad, yes - no, what a guessing game ! Surely nickel and copper price should start to increase soon…here’s hoping !
LME Nickel Stocks VALE has an operation in Indonésia INCO, if you want try to find.
Over a million traded By 08.21! Sells or buys? WR
LME Nickel Stocks [link]
LME Nickel Stocks Assumptions of how many electric vehicles are going to be on the round in 10 or 20 years are subject to all sorts of factors: what will government policies be? What will be the price of gasoline and diesel? How quickly can OEMs build them and will the public accept them? Another huge question: batteries. Not just whether the capacity to build them can be added quickly enough but the more complex question of whether the metals that they are built out will be in adequate supply. That was the key focus of the first-ever S&P Global Platts Battery Metals Conference in New York on Tuesday. Whether there is going to be adequate metals supply, and which metals will be desired, was the overriding subject of a day-long debate on the first day of the two-day conference. The chemistry of the individual battery creates different strengths and weaknesses. For example, Roman Kramarchuk, the head of technology policy and energy analytics for S&P Global Plats, said a lithium nickel/manganese/cobalt battery is good for electricity storage and vehicles, while a lithium iron phosphate battery can be preferred for storage and for larger vehicles. “There are always tradeoffs in terms of cost and density,” Kramarchuk said. Even as battery improvements are being made, Kramarchuk cautioned that other technologies that batteries will need to compete with are not standing still. He said there was likely to be a natural gas vehicle conference going on somewhere at the same time as the battery metals conference, and “there is also hydrogen lurking in the background in terms of energy storage and transportation.” Essentially there are three key risks for the future in lithium ion batteries, Kramarchuk said. The first is what changes in the price for lithium and other components mean for battery updates. The second is technology, and whether technologies are getting locked in during the construction of an auto plant, thereby possibly foreclosing the adoption of newer, better technologies. The third is policy and regulatory risks. “If you look, as soon as subsidies are pulled away, you see a tremendous drop in installed vehicles, even in places like Denmark,” Kramarchuk said. “How easy is it to change chemistries if metals prices shift and there is pressure to use more or less of a metal?” Kramarchuck asked. As Kramarchuck noted, developments in battery technology “are not necessarily a quick process. It can take 10 years to go from introduction to full development. These are the technologies of the future, but they will not sneak up on us.” Plenty of lithium out there…in the ground One issue that everyone agreed with is that reserves of lithium are not an issue. The world has ample reserves of it, though there is concern that the world is overly dependent upon Chile, Argentina, China and Australia. And that’s a good thing, because the numbers on expected growth of lithium demand are staggering. According to figures presented by Kramarchuck, in 2017, the world produced 230 kilotons of lithium carbonate equivalent (LCE). Passenger light-duty electric vehicles were 15% of total consumption. In 2025, the figure for LCE consumption by EVs is expected to be 280 kt given the projected increase in adoption, so that EV consumption of lithium in seven years will exceed the consumption of all lithium now. In the case of cobalt, total production now is about 110 kt. By 2025, the expectation is that consumption just from EVs will be 80-100 kt. By 2030, that cobalt figure will be anywhere from 170-300 kt. The irony is that even with projections of massive growth in demand over the next 15-20 years, the market is expecting a surplus of lithium in the next few years. Mustafa Hafeez, a director at Deutsche Bank, said the market is “still trying to understand the trajectory of the mineral in the coming year,” but there is a consensus that with new projects slated to come online in the near future, there will be a surplus of lithium. And then, as Hafeez noted, the market becomes “circular,” with the low prices discouraging investment in the projects that are going to be needed for the years after the surplus disappears. The equity markets for companies that produce lithium, Hafeez said, “are pricing in a medium-term oversupply.” The fact is that lithium prices have been weakening in recent months. While S&P Global Platts only recently launched its first lithium assessment, it already has seen a decline in its North Asia lithium hydroxide price to $18,000/mt from $19,000/mt in early September. The website for Benchmark Minerals reported that the price was about $23,000/mt in March of this year. Lithium mining coming back to the Carolinas But the surge in prices over the past few years, as it always does in mineral markets, has incentivized the production of old reserves that in some cases have been closed for many years. A case in point: Piedmont Lithium, a publicly-traded mining company that is looking to revive an old mine near Charlotte, NC at a site that is also not far from existing processing facilities. Howard Klein, a partner at RK Equity who filled in for Piedmont’s CEO on a panel, talked about synergies between “auto alley” stretching from Ontario down into the U.S. southeast, and what he said could become “lithium alley,” where not just Piedmont but other reserves are reactivated to supply the tremendous expected growth in demand. Click to learn more CLICK TO LEARN MORE Klein said at one point back in the 50’s, about 100% of the world’s lithium came from U.S. deposits near those of Piedmont, though that was well before the advent of the lithium ion battery. Klein said he hoped Piedmont would produce its first lithium by 2021. There is new transparency coming to the market for some key metals. The London Metal Exchange is seeking to launch a cash-settled lithium contract. An existing LME cobalt contract–which has issues with the fact that some of its deliveries might come from mines with child labor–is looking to add a cash-settled contract to provide more liquidity and help sidestep that issue. “The next phase of supply needed will require time and capital,” Hafeez said. “Supply could once again play catch-up to a much steeper demand curve.” It was clear from the conference that within the battery community, there will be a battle for what metals go into the next generation of batteries and at what percentage. Consistent through all the discussions is that cobalt use needs to be reduced. It has strong battery properties, including its chemical stability, but more than 50% of the world’s production comes from the Democratic Republic of Congo, the former Zaire, a country racked by decades of war. Its price has been extremely volatile the past several years. For example, Paul Casbar, a regional sales manager for Vale Americas Inc.–Brazil’s Vale owns the assets that formerly made up nickel giant International Nickel of Canada–made his pitch for nickel’s role. cobalt price.JPG His arguments: nickel’s energy density is a strong asset in building the next generation of batteries, it’s plentiful, its costs make it far more attractive than cobalt, and it comes from stable areas. But another area of stability–the chemical’s stability in the battery, a key selling point for cobalt–is problematic with nickel, Casbar said. “That can be overcome by technology,” he said. But nickel production would need an enormous ramp-up in output that at present has no reasonable chance of occurring, based on the numbers cited by Casbar. Nickel supplies would need to be 200 kt above what is produced today in the next few years “and that is something that has never happened before,” Casbar said. Enter manganese. Christopher Ecclestone, a mining strategies at Hallgarten & Co., said more manganese into the battery chemistry–it is being used now with cobalt and nickel–“can give you the best results, but you pay top dollar.” Finally, there’s vanadium. But that metal is heavy, and while it was referred to several times over the course of the day, the assumption is that vanadium has a bright future for stationary uses, like home storage batteries. Vanadium in EV batteries add too much weight to the car to be economically effective. But vanadium’s weight will make it problematic to make its way into electric vehicles, where lithium’s light weight as well as density make it the perfect choice to be the base metal in any formulation for an EV battery. As was noted by one speaker, it isn’t going to be engineered out of batteries anytime soon. That is unless the “holy grail” of batteries, as mentioned by several presenters, is developed: solid state. The Wikipedia definition of solid state batteries is that they are "a battery technology that uses both solid electrodes and solid electrolytes, instead of the liquid or polymer electrolytes found in Lithium-ion or Lithium polymer batteries.” But as this story notes, a full description of how they work is tough to come by, because they don’t exist: “Unfortunately, the characteristics of a solid-state battery for EV use can’t be described yet, because no one has produced such a battery of the appropriate size and cost for an electric vehicle,” Power Electronics, an Informa publication, said of the technology.
LME Nickel Stocks To read, it has nothing to do with Nickel, but it has everything to do with Nickel [link]
LME Nickel Stocks [link]
LME Nickel Stocks
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LME Nickel Stocks Nickel briquette – a key feedstock for nickel sulfate and stainless steelmaking – has been extensively used by downstream consumers in China this year against a backdrop of healthy demand growth in the domestic electric vehicle (EV) and stainless steel sectors. Duty-free nickel briquette, typically imported from Madagascar and Australia, is the most commonly accepted type of this material in China and enjoys the most liquidity in the country. To better monitor the development of EV market in China, Fastmarkets MB is planning to launch a cif Shanghai duty-free nickel briquette premium to complement the successful launch of its yuan-denominated nickel sulfate price assessment in July. The proposal to launch the new assessment comes ahead of an expected boom in nickel demand from the EV battery sector, with demand for the material for use in EV batteries projected to surge fivefold over the next six to seven years, according to Fastmarkets MB head of base metals and battery research William Adams. The duty-free nickel briquette long-term contract settled between battery makers and duty-free briquette producers was at around $120-160 per tonne in the first half year, before rising to $180-200 per tonne in the second half while the market shifts toward more nickel-weighted batteries, such as the NCM 811 – a cathode composition of 80% nickel, 10% cobalt and 10% manganese. “We used to rely on purchasing nickel sulfate from sulfate producers, like Jinchuan. But we’re expanding capacity so we need to produce our own nickel sulfate via nickel briquette dissolution facilities,” a procurer from a major battery plant in China said. “It took us quite some time to procure and then install the full set of nickel briquette dissolution facilities, and it wasn’t until the middle of the year that we got it done and our operations started. This is also the case for many of our peers, that’s why the premium for briquette in second half year was higher,” he added. In addition to the project surge in nickel demand from the EV sector, China’s growing stainless steel output is also expected to contribute to the rising usage of nickel briquette in the country. Chinese stainless steel output rose by 4.1% year on year in January-August 2018 to 17.35 million tonnes, according to Chinese information provider Antaike. At the beginning of this year, China raised its import tax on melting refined nickel to 2%, though nickel briquette imported from Australia and Madagascar remain duty-free under Free Trade Zone agreements. “The tax increase has cemented the competiveness of duty-free briquettes in terms of price, so it’s not surprising to see it being more widely used this year,” a Shanghai-based trader said. In China’s domestic market, duty-free nickel briquette is currently trading at a discount of around 500 yuan ($72) per tonne against the most-traded nickel contract on the Wuxi Stainless Steel Exchange, while Norilsk nickel full-plate cathode, which is subject to the 2% import tax, is trading at a premium of 200 yuan per tonne, according to traders. Therefore briquette is approximately 700 yuan per tonne cheaper than Norilsk full-plate cathode. Meanwhile, the London Metal Exchange has already approved nickel briquette for physical delivery against its futures contract, with the Wuxi Stainless Steel Exchange following suit in initiating a public consultation late in May to add it for physical delivery, which is also expected to increase nickel briquette liquidity in China. The Shanghai Futures Exchange is also said to be investigating the feasibility of approving nickel briquette for physical delivery against its futures contracts amid dwindling global stock levels, according to market participants. Available nickel stocks on both the LME and SHFE have been on a downward trajectory since the beginning of the year, with market participants disputing the cause of the decline as either the result of real demand or the material is being used for financing activities and thus has become “invisible”. SHFE deliverable nickel stocks stood at 16,204 tonnes as of October 12, plummeting by 67% from 48,920 tonnes on January 5. Similarly, LME nickel stocks stood at 219,924 tonnes on Thursday October 18, down 40% from 366,612 tonnes on January 2 – the first trading day of the year