China Nonferrous Metallurgy

This paper analyzes the variation trend of nickel and cobalt prices from 1980 to 2020, and points out that the force influencing the market has gradually shifted from Europe, America and Japan to China. By 2020, China’s nickel output and consumption account for 30.6% and 58% of the world’s nickel output and consumption respectively, and 72% and 56% of the world’s output and consumption respectively as for the cobalt. China has already taken the leading position in the global nickel and cobalt market. In the future, with the rapid development of new energy vehicles, the consumption prospect of nickel and cobalt is very optimistic. The United States, South Korea and other countries have paid their attention to the supply chain security of battery metals including nickel and cobalt. China is highly dependent on imports in nickel and cobalt resources, and the complete industrial chain from smelting to materials can partially make up for the resource shortage, but the status quo of resource enclaves is difficult to change. It is suggested that the relevant authorities further strengthen the follow-up research on the nickel and cobalt industry, and take a variety of measures to ensure the raw materials supply of nickel and cobalt and to be better prepared for the new era of the global nickel and cobalt market.