Perfect Storm Brewing for Nickel Prices in 2024 as Demand Booms & Supply Squeezes

Interview with Mark Selby, CEO, Canada Nickel Corp for The Battery ShowPrevious recording: https://youtu.be/2eEQhElc4TwRecording date: 19th January, 2024Nickel Market Poised for Deficit by 2024 as Demand BoomsNickel prices failed to plunge as low as expected in early 2023 due to destocking along the EV supply chain, but underlying demand growth remained resilient at 9% annually from 2020-2022. While temporary factors kept consumption subdued last year, the electric vehicle revolution continues to drive rapid nickel demand expansion.With supply growth still reliant on Indonesia in the face of several other operations closing, the stage is set for a potential nickel market deficit by 2024. Export quota changes could see Indonesia constrain supply, just as soaring EV uptake spurs further inventory restocking and double-digit nickel demand growth globally.Surging nickel consumption in North America as EV penetration accelerates will make the region a major demand driver. Relentless demand against capped supply will require price signals to incentive substantial new mine investment. But after a turbulent 2023, nickel appears gearing up to fulfill its potential as an indispensable metal in a rapidly electrifying world.The supply challenges emerging just as demand hits its stride likely create a promising risk-reward investment profile for nickel exposure moving forward. As the decade unfolds, the metal could emerge as one of the primary beneficiaries of the unstoppable momentum behind EVs.—Learn more: https://cruxinvestor.com/categories/commodities/nickelSign up for Crux Investor: https://cruxinvestor.com