Nickel futures rose to above $19,700 per tonne, close to levels not seen since September 2014 buoyed by strong demand from stainless steel mills and electric vehicle battery makers, amid tight supply. China's refined nickel output in January-July fell 15.7% year-on-year to 91,723 tonnes, according to state-backed research house Antaike. Considering only July, output fell 13.4% from the
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That 60,000 tons is enough for roughly 150,000 to 200,000 batteries, far short of the amount needed if Tesla gets anywhere near its target. Clearly, there is plenty of growth for existing lithium