During the forecast period, Copper Nickel Market is expected to witness considerable growth. The market size and growth rate are projected from the analysis of market trends and development aspects. Moreover, the report also provides an estimation of the market size in terms of value, volume and sales, along with the growth rate by type, region and application.
Copper Nickel is an alloy of copper and nickel, which is used in many industries. It is corrosion resistant in most environments. It has high tensile strength, thermal conductivity, and stress corrosion cracking resistance. It is also resistant to hydrogen embrittlement, crevice corrosion, and biofouling. The metal is silver in color.
It is used in the making of stainless steel. It is also used in electric-vehicle batteries, and in marine hardware. It is highly resistant to corrosion in seawater.
The recent price spike in industrial metals has been driven by investor optimism. However, these spikes have been short-lived. The metals have fallen back by about six percent since their peak. They are now trading at $10,000 a metric ton.
The price spike is also causing market participants with short positions to close out their positions. This will require them to have more collateral to satisfy margin calls. The recent war in Ukraine is also causing jitters amongst miners.
The global nickel deficit will widen to 0.56Mt by 2026. This will lead to an increase in copper prices. The price of copper is expected to climb by 3% in the next five years.
