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Nickel: 5 things to look for in 2023

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10 January 2023

Nickel: 5 things to look for in 2023

Report summary

In 2022 China’s zero Covid policies, global escalation of interest rates, a nickel price squeeze and the rise of the rechargeable battery sector all had a greater than expected impact on the nickel market. But while they will continue to influence demand and prices in 2023 they are not new. In this insight we highlight outliers specific to nickel of interest and some early-stage moves which we expect to become the “new normal”.

Table of contents

  • 1. Is this the beginning of the end for the LME’s dominant nickel contract?
  • 2. Technology I: Hydrogen moves into stainless and nickel.
  • 3. Technology II: Advanced battery recycling has arrived.
  • 4. Nickel from Africa? You bet.
  • 5. EVs from Vietnam to Uncle Sam, and nickel chemicals from Thailand and Saudi Arabia.

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    Nickel: 5 things to look for in 2023

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