[Spoiler] China Nickel Cobalt Lithium Industry Chain Annual Report 2021-2025

The Lisbon-based International Nickel Study Group (INSG) released data on Monday March 21, showing that in January 2022, the global nickel market was oversupplied by 6,000 mt, while there was a supply shortage of 5,300 mt in the same period last year.

According to sources, Indonesian President Jokowi admitted that the ban on raw ore export had not been without challenges, as the European Union (EU) has filed a lawsuit against Indonesia’s nickel ore export ban at the World Trade Organization (WTO).

Overseas cobalt prices were relatively stable during the Chinese New Year (CNY) holiday, and there were few cobalt salt transactions heard in the market. And the prices remained unchanged from the pre-CNY holiday level.

The output of cobalt sulphate in January will be about 5,900 mt in metal content, and the output of cobalt chloride will stand at 4,400 mt in metal content.

As of January 26, China battery-grade lithium carbonate offers continued to rise, according to SMM prices.

The average monthly price of battery-grade lithium carbonate was 236,478 yuan/mt in December 2021, up 20% on the month. The prices are likely to rise further as the downstream restocking extends.

Shanghai nonferrous metals mostly closed in the positive territory as the market was cheered up by the macro front, as China released its December official manufacturing and non-manufacturing PMI readings, which topped market expectation.

CATARC Co. recently released the "2021 Energy-saving and New Energy Vehicle Development Report."

Cobalt and lithium were undoubtedly the topic of the year which featured recovery and growth. As the shortage of upstream minerals drove up the prices of cobalt and lithium salt, many midstream and downstream enterprises have embarked on the road of competing with upstream miners for cobalt and lithium resources in order to control their costs.

Shanghai base metals basically trended lower amid a cautious market which expected the Fed to wrap up the bond purchasing program early than estimate. Meanwhile, their counterparts on LME mostly closed in the positive zone.