Weak NCM Demand Limits Nickel Consumption Growth in China

Post Views: 432 nickel-cobalt-manganese (NCM) China’s nickel consumption growth has faced significant constraints in 2024 due to weak demand in the nickel-cobalt-manganese (NCM) cathode active material (CAM) sector. This issue is compounded by the growing market dominance of lithium-iron-phosphate (LFP) CAM, which has surged in popularity for use in new energy vehicle (NEV) batteries. Despite the overall growth in the NEV sector, demand for NCM batteries has lagged, restricting nickel consumption growth.   Slow Growth in NCM Battery Production and LFP’s Market Dominance From January to S...