Few weeks ago Economics Global mentioned Power Metals Corp when promoting their latest free report about metals that will likely perform well from now till 2023. They cite that copper is "likely going to rise gradually in the coming years, rising from $6,118 per metric ton in 2018 to $6,471 per metric ton in 2023." Copper is generally a good indicator of industrial growth, and if you read the article, you will see that clean energy is driving prices for some commodities which contributes to the fourth industrial revolution.
"As a result of these industry trends and dynamics, we expect the overall trend of increased demand for industrial minerals and metals to remain intact, despite recent geopolitical headwinds." said Lenoy Dujon, Founder EconGlobal.
Economics Global expects stronger tailwinds to help the industry, including more robust demand for industrial minerals and metals commodities as well as rolling production shortages among some of the world’s producers. They expect that prices for industrial minerals and metals to rise gradually overall, with nickel prices rising the fastest within the group.
Another fact you may not know about Nickel
Nickel sulfate is a form of the metal highly suited to the production of precursor battery materials.
China’s Ministry of Finance made some minor but significant tweaks to its nickel import tariffs at the start of this year.
Although import duty on melting-grade nickel cathode was doubled from 1 percent to 2 percent, those of nickel sulfate was cut from 5.5 percent to 2 percent.
"China, already a leader in the electric vehicle (EV) battery sector, is evidently laying the ground for stimulating imports of nickel in the most readily usable composition for lithium-ion battery processing" - Andy Home, Reuters Metals Correspondent
Over the next few years, global demand for nickel is expected to rise, as the industry rushes to meet growing global demand for electric vehicles, batteries, and other forms of energy storage. Economics Global expects nickel prices to rise the fastest amongst its peers, rising from US$10,559 per metric ton in 2018 to US$13,187 per metric ton in 2023.
We just sent you an email. Please click the link in the email to confirm your subscription!
OKSubscriptions powered by Strikingly