Russia's Nornickel expects increased battery demand will boost nickel use

  Russian mining company Norilsk Nickel said on Tuesday that the increase in the use of electric vehicle batteries may make nickel demand strong since the 1920s.

Russian mining company Norilsk Nickel said on Tuesday that the increase in the use of electric vehicle batteries may make nickel demand strong since the 1920s.

Nornickel said that by 2025, the battery industry will use more than 500,000 tons of nickel each year.

Nornickel said that this is equivalent to about half of current Class 1 nickel consumption. Class 1 nickel refers to the highest quality nickel and is currently used primarily as a raw material for the production of stainless steel.