Nornickel cuts projections for 2020 nickel demand in batteries but sees long-term growth

摘要

Russia’s Nornickel has lowered its projections for nickel demand for battery cathodes in 2020, but is maintaining the view that long-term demand growth will primarily come from the new energy vehicle industry, although at a slower pace. Nickel offtake by the battery cathode material production is expected to decline by 15% this year to 159,000 mt from 2019, Nornickel said. It comes in sharp contrast with the 17% hike Nornickel originally forecast in its pre-coronvirus outlook for 2020.