Caixin
Feb 15, 2023 04:00 AM
BUSINESS

Prices of Nickel, Cobalt and Lithium Set to Ease as Supplies Rise

Following a 45% rally in 2022, nickel slumped 11% on the London Metal Exchange this year
Following a 45% rally in 2022, nickel slumped 11% on the London Metal Exchange this year

(Bloomberg) — Battery-metals prices are set to retreat from highs this year as surging supplies trigger gluts, a leading Chinese industry group warned following a similar note of caution from Goldman Sachs Group Inc.

Nickel prices are likely to drop in the second half as the global market may experience a surplus on rising supply from mines in Indonesia, according to Chen Xuesen, a spokesman for the China Nonferrous Metals Industry Association. Cobalt and lithium carbonate prices may also ease, Chen said, according to a statement on the group’s WeChat account. No estimates were given.

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