Consulting analysts in tomorrow’s commodities and technologies

Nickel Market Reports

Demand for high purity (battery grade) nickel sulphate (NiSO4) is growing as lithium ion battery cathode chemistries evolve towards more nickel-rich formulations. From NMC 111 (equally split between Ni, Mg and Co) formulations to the current crop of NMC 532 and NMC 622, and a limited use of NMC 811 batteries, nickel sulphate is the growing ingredient at the expense of cobalt and manganese.
SFA (Oxford) has been involved in nickel supply-security projects on behalf of end users, as well as investment appraisals for NiS plants (including high pressure acid leach - HPAL) and nickel mines and plants. The team constantly appraise the economics and viability of global Class 1 and Class 2 nickel mines and projects on behalf of our clients.

Battery Raw Materials Quarterly

Bringing together SFA (Oxford)’s expertise in the nickel, cobalt and lithium markets, this quarterly price risk report is designed to aid investors and industry stakeholders to monitor and contextualise market impacting events. The rapidly evolving nature of government policy, electric vehicle (EV) roll-out plans, the battery industry value chain, and nickel, cobalt and lithium market players, requires detailed analysis and interpretation to provide the reader with information on the most up-to-date risks to metal markets and pricing.

Who should read this Price Radar Report?

  • All industry stakeholders and new business entrants who need to keep abreast of the evolving influences on the nickel, cobalt, and lithium markets and prices, including automotive and industrial end-users, battery industry players, mining companies and juniors, as well as recyclers.
  • Investors and financial institutions needing to understand and quantify the risks and opportunities in the industry, future costs of production and short- to medium-term prices.

Market outlook for cobalt, nickel and lithium

Released four times a year on a subscription basis, the Battery Raw Materials Quarterly report will keep you abreast of rapidly evolving developments in the nickel, cobalt, and lithium markets, providing you with a competitive edge.

The content of each market report will vary according to nickel, cobalt and lithium industry events and market developments, but will be tailored to incorporate an individual client’s specific strategic requirements. Typically, the reports will include:

  • SFA (Oxford)’s five-year price forecast for nickel, cobalt, lithium carbonate and lithium hydroxide.
  • The impact of powertrain technology trends, specifically EV forecast risks including: global powertrain evolution and electrification, automaker announcements and implications for commodities, EU CO2 targets and opportunities for EVs, hybrid technology developments, China’s policies and the new energy vehicle (NEV) market, and US market risks.
  • Nickel market: nickel and nickel sulphate price developments, the evolution of batteries and nickel sulphate requirements, stainless steel versus battery demand, Class 1 and Class 2 supplies, new projects, availability of Class 1 nickel for nickel sulphate production. Economics of nickel and nickel sulphate supply.
  • Cobalt market: demand developments, battery cathode chemistries, substitution risks, supply and supply risks, politics and mining in the Democratic Republic of the Congo (DRC), global reserves and projects, and trade to China.
  • Lithium market: price developments, battery-grade demand, battery cathode chemistries, carbonate vs. hydroxide, battery factory developments and industry players, supply response, reserves and resources, supply vs. demand, and supply risks from hard rock and brine operations.
  • Producer economics of nickel, cobalt, primary lithium (LCE) and lithium hydroxide supply, including factors influencing cost inflation and exchange rate and volume impacts.
  • Macroeconomic developments on supply-demand fundamentals and technology (global, US, EU and China).
  • Comments on the political and socio-economic risks impacting on primary supply in politically sensitive producing regions.
  • Detailed market balances: nickel, cobalt, nickel sulphate, lithium, lithium hydroxide.
  • Supporting data on nickel, cobalt and lithium: nickel supply by region and from probable and possible projects, nickel demand by end-use, nickel EV demand by region, cobalt supply by region and from probable and possible projects, cobalt demand by end-use, cobalt EV demand by region, lithium supply by region, producer and operation, battery-grade lithium hydroxide by operation, lithium and lithium hydroxide supply from probable and possible projects, lithium demand by end-use, lithium EV demand by region and battery-grade lithium hydroxide demand by region.

Conference call

Each report is supported by a conference call with SFA (Oxford)'s team of analysts, which will take place shortly after you receive the report. At that time, our team of analysts can answer any questions you may have about the powertrain metals outlook for the nickel, nickel sulphate, cobalt, lithium and lithium hydroxide markets.

Consulting

SFA has over a decade of hands-on engineering experience in battery raw materials, including aiding investors with project and plant due diligence in the lithium industry, on-site visits to the Democratic Republic of the Congo (DRC) or high-pressure acid leach (HPAL) plants in Australasia, as well as price forecasting and market studies. Leveraging off this wealth of expertise, SFA continues to be a reliable partner for stakeholders and investors in the battery raw materials space.