Battery demand prospects fuel Nickel to two-year high: Angel Commodities Broking

Views of Ms. Kaynat Chainwala (Research Analyst - Base Metals, Angel Commodities Broking):

"In todays' session, Nickel prices jumped to the highest since June 2015 on both LME and MCX boosted by the upcoming electric car boom since the metal is a key ingredient in Lithium ion batteries. Nickel sulphate is a critical ingredient in these batteries, which are being installed in electric cars as it helps keep a charge over longer distances.

Supply tightness has already been confirmed by latest International Nickel Study Group (INSG) estimates which showed global demand for nickel is expected to outweigh supply for a third year in 2018, boosted by demand from the stainless steel industry and production of nickel-containing batteries."

Source : Equity Bulls

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