#Sumitomo Metal sees global #nickel demand for battery use to rise 18% in 2021

TOKYO, June 29 (Reuters) – Global demand of nickel used in batteries is expected to rise 18% this year from 2020, backed by strong sales of electric-vehicles (EVs) in China, Sumitomo Metal Mining, Japan’s biggest nickel smelter, said on Tuesday.

Sumitomo Metal, which supplies cathode materials for Panasonic lithium ion batteries that are used in Tesla EVs, said demand of nickel used in rechargeable batteries will increase to 228,000 tonnes in 2021 from 193,000 tonnes in 2020.

Nickel is mainly used in stainless steelmaking, but is also a vital ingredient for the lithium-ion batteries used to power EVs, where demand is set to accelerate over coming years.

Read more at: https://www.reuters.com/business/autos-transportation/sumitomo-metal-sees-global-nickel-demand-battery-use-rise-18-2021-2021-06-29/

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