SHANGHAI, Apr 13 (SMM) – China's production capacity of nickel sulphate is expected to exceed 700,000 mt in 2018, and equate to 160,000 mt of nickel. By 2020, capacity is likely to exceed 1 million mt and amount to 220,000 mt of nickel, according to general manager of Jinchuan Group Nickel Salt, Zhou Youming.
Nickel consumption in China's battery industry is likely to grow 30%, said Zhou at the SMM CoLiNi Summit on Friday April 13. Cathode materials globally consumed 53,000 mt of nickel in 2017, about 2.4% of global consumption. The NCM523 variety accounts for half of the 52,000 mt and is expected to grow to 74,000 mt in 2018 and 140,000 mt in 2020.
Stainless steel is still the biggest consumer of nickel in China, while galvanising industry consumes about 67,000 mt of nickel, or 5.8% of total consumption. The non-ferrous alloy industry is expected to consume 64,000 mt of nickel, about 5.6% of total consumption. While the growth of 30% is impressive, the battery industry is likely to account for just 41,000 mt on nickel consumption.
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