LME Nickel Stocks








The EV figures for China in April are interesting.

“Domestic sales for battery powered and hybrid cars came in at 91,000 units, down 17% from March but up 28.4% compared to the same month in 2018.”

The 17% drop in sales from March merely mirrors the drop seen for global EV sales in 2018 from March to April. In March ‘18 global sales were 141,000. In April 128,450 a drop of 9%. I expect sales figures for Europe in April to make good some of the fall out in China as a result of Trump’s trade war. Last year global EV sales for April ’18 came in at 128,450. This year I expect to see 150,000+.

We shall see soon enough.



BATTERY PRODUCTION- Today’s management decision is an important step for the e-Raw Material Team:
As part of its electrification offensive the Volkswagen Group is to move forward with setting up a battery cell production facility in Europe under a partnership. To that end, the Supervisory Board approved investments of just under one billion euros at today’s meeting.
Bastian Brodesser

Subscribe to the FT to read: Financial TimesVolkswagen reveals plan to enter battery cell production


“China, U.S. have ‘wisdom’ to resolve trade dispute, says senior diplomat”

China might. I’m not so sure about the other lot though!

TDT :sunglasses:


“Domestic sales for battery powered and hybrid cars came in at 91,000 units, down 17% from March but up 28.4% compared to the same month in 2018.”

I’ve just gone back and checked the figures and a 17% drop in EV sales in China from March to April isn’t correct.

March - 118,107

April - 91,000

I make that a drop of almost 23%.

The problem with the way figures from China are reported is sometimes they include light commercial vehicles, sometimes they don’t. You also sometimes find pure EVs and PHEVs being lumped in together and sometime they only report pure EV numbers so its difficult to establish how they arrived at 17%.

TDT :sunglasses:




access only for subscribers, I would like to read :frowning:


"The real reason you’re not driving an electric car | The Japan Times"

Badly written and poorly researched. The Japanese will rubbish EVs becuase their bet is on hydrogen.

TDT :sunglasses:



It looks like BoAML is predicting a split in the market with class 1 and class 2 going their own separate ways. It would be good, especially for Amur Minerals, if this did happen.

TDT :sunglasses:


for sure :slight_smile:




What’s interesting about that Glencore post is the figure for nickel used in EVs in 2018. According to Glencore is was 60,000 tonnes when according to Nornickel:-

“A combination of these 3 factors supported the demand growth for nickel in batteries last year (2018): primary nickel use in batteries increased by 42% to 134 kt.”

Which is it? 60,000 tonnes or 134,000 tonnes becuase its quite a difference. With just over 2m EVs, HEVs and PHEVs being sold world wide in 2018 it would would work out at 30kg. of nickel per vehicles at 60k and 67kg. per vehicle at 134k. You could make the case for either.

The one thing I’m pretty sure of is demand for nickel from the EV sector in 2025 is going to be way higher than 400,000 tonnes.

TDT :sunglasses:


Interesting figures for nickel in the LME this morning:-

Live warrants - 103,116
Cancelled warrants - 65,628
Total stock - 168,744

The day before the numbers were:-

Live warrants - 100,032
Cancelled warrants - 69,186
Total stock - 169,218

That’s a fair old shift in the number of live and cancelled warrants and one that’s going in a direction we haven’t seen for quite some time. The rest of the week should be interesting.

TDT :sunglasses:


Today the total in the LME dropped by 1,476 tonnes. We will know tomorrow how much of that figure comes off the live warrants total and how much the cancelled warrants total. Either way its a move in the right direction.

TDT :sunglasses: