BHP: Demand for Primary Nickel to Increase 1.3 Million mt in a Decade

SHANGHAI, Dec 28 (SMM) – Recently, Bao Wenjun, head of market analysis for metals and mining at BHP, stated at the press conference of the 2021 Energy-saving and New Energy Vehicle Development Report that at present, the vast majority of nickel in the market is actually used in non-battery industries, and only 5% of nickel was used in the battery industry in 2020. Most of the rest was used in stainless steel. Stainless steel currently accounts for 2/3 of the global nickel consumption.

Bao Wenjun said that the market demand for primary nickel will probably increase by 1.3 million mt in the next ten years. By 2030, we believe that primary nickel used in the battery industry will account for more than 20% of the total global demand for primary nickel.