Original article by Cecile Lefort
The Australian Financial Review – Page: 27 : 28-Feb-24

The price of nickel fell by 44 per cent in 2023, and Sam Berridge of Perennial Value Management believes that it may not rebound for some time. He notes that Indonesia is continuing to ramp up its production of low-cost nickel, while the growing use of lithium ferrous phosphate in battery technology will reduce demand for the use of nickel in electric vehicles. Meanwhile, Vivek Dhar from the Commonwealth Bank says economic activity in China will be the key driver of the outlook for nickel, given that the nation accounts for 40-60 per cent of base metal demand. However, Berridge thinks the lithium price may have bottomed, after falling by 85 per cent in 2023.

CORPORATES
PERENNIAL VALUE MANAGEMENT LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA