[nickel, cobalt and lithium summit] the demand for nickel and cobalt in the mainstream of new energy vehicles will change like this.

SMM7 March 14: today, at the SMM "2020 (Fifth) China International Nickel-Cobalt-Lithium Summit Forum and China International New Energy Lithium Materials Conference", Cai Jianyong, chairman of Ningbo Liqin Resources Technology Development Co., Ltd., analyzed the demand for nickel and cobalt in the new energy automobile industry.

Cai Jianyong said that Liqin Resources is the largest importer of nickel ore in China, accounting for 28% of the domestic share. Of these, 5.5 million tons were imported in 2015, 8.2 million tons in 2016, 12 million tons in 2017, 15 million tons in 2018 and 20 million tons in 2019. The construction of the wet process project in Indonesia began in 2018. At the end of 2019, the company began to build a fire project in Indonesia with an estimated production capacity of 90,000 tons of nickel metal, which will be put into production in 2021.

Forecast of supply and demand in Nickel Market

Global demand for first-tier nickel is expected to reach 3.01 million tons by 2024, while supply is only 2.92 million tons, resulting in a supply shortfall of about 80, 000 tons. On the demand side, it is estimated that by 2024, the global demand for nickel will reach 3.01 million tons, of which the demand for nickel for batteries will reach 400000 tons. In terms of nickel sulfate, it is estimated that by 2024, the global demand for nickel sulfate will reach 440000 metal tons, of which the demand for nickel sulfate for batteries will reach 400000 metal tons.

Forecast of supply and demand in Cobalt Market

Global cobalt demand is expected to be 210000 tons by 2024, while supply is only 200000 tons, a shortage of nearly 10, 000 tons. On the demand side, it is estimated that by 2024, the global demand for cobalt will reach 208000 tons, of which the demand for cobalt for lithium batteries for electric vehicles will reach 86000 tons. In terms of cobalt sulfate, it is estimated that by 2024, the global demand for cobalt sulfate will reach 100000 metal tons, of which the demand for cobalt sulfate for lithium batteries for electric vehicles will reach 86000 metal tons.

Demand Forecast of Electric vehicle Market

It is estimated that by 2025, the global number of electric vehicles is expected to reach 8.497 million, and its demand in China will reach 4.577 million.

Indonesia Wet Nickel-Cobalt Project

Project products: Cai Jianyong said that the products of the Indonesian Wet Nickel-Cobalt Project will be used in the production of electric vehicle battery materials in the new energy industry. The first phase of 37000 nickel metal tons, 4.3 thousand cobalt metal tons, the second phase increased by 18000 nickel metal tons, 2.2 thousand tons of cobalt metal tons. MHP intermediate products are produced at the beginning of the project. Subsequent production of nickel sulfate and cobalt sulfate.

Project address: OBI Island, North Maluku Province, Indonesia, about 2400 kilometers away from Jakarta. The project will be built in Khalida's current nickel mining area, with ports, power plants, roads and other supporting facilities.

Scan the code and apply to join the SMM metal exchange group.