Financial Highlight

Nickel market

  • LME Nickel prices hit a recent low of ~US$ 11.1K per mt in March 2020, and have slightly recovered to ~US$ 12.8K per mt. While Covid-19 has depressed Nickel prices in the short term, the market’s long term fundamentals continue to remain sound
  • In Indonesia, as of May 2020, the government has introduced a minimum price for the domestic sale of Nickel Ore.
  • Nickel is divided into two classes, Class 1 which has a Nickel Content of at least 99.8% and Class 2 which has a Nickel Content lower than that.
  • About 65-75% of all Nickel produced is used in Stainless Steel production, with Class 1 also used for higher grade Stainless Steel.
  • As a result of the unstable supply of Cobalt, EV Battery technology is decreasing its reliance on the metal and transitioning to the Nickel heavy NMC and NCA batteries. This is expected to lead to a surge in demand in Class 1 Nickel including repurposing some that was previously used for Stainless Steel, which will in turn create more demand for higher grade Class 2 Nickel.

  • IFSH’s current market cap is ~US$ 64M

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