Atomic properties
Market data
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Raw material sources & pricing
| Raw Material Form | Grade/Quality | Price Paid by Refiners | Major Sources | Notes |
|---|---|---|---|---|
| Laterite Ore (Limonitic) | 0.8-1.5% Ni | $25-40/MT | Indonesia, Philippines | HPAL processing, high cobalt content |
| Laterite Ore (Saprolitic) | 1.5-2.5% Ni | $35-55/MT | Indonesia, New Caledonia | RKEF smelting, lower energy than HPAL |
| Sulfide Ore (Pentlandite) | 1.0-3.0% Ni | $80-150/MT | Russia, Canada, Australia | Traditional smelting, byproduct copper |
| Nickel Matte (Imported) | 40-75% Ni | $12,000-18,000/MT | Indonesia, China | Intermediate product from RKEF |
| Mixed Hydroxide Precipitate | 35-55% Ni | $10,000-15,000/MT | Indonesia, Papua New Guinea | From HPAL processing |
Nickel Ore - Primary Raw Materials
Current Market Price: Laterite Ore (1.5-2.5% Ni): $35-55/MT FOB Sulfide Ore (1.0-3.0% Ni): $80-150/MT FOB Major Global Reserves: Indonesia: 72 million MT (38% of world reserves) - Laterite deposits Australia: 20 million MT - Both laterite and sulfide Brazil: 11 million MT - Laterite deposits Russia: 7.5 million MT - Sulfide deposits Cuba: 5.5 million MT - Laterite deposits Philippines: 4.8 million MT - Laterite deposits 2025 Production Leaders: Indonesia: 1,800,000 MT (48% of global production) Philippines: 330,000 MT Russia: 220,000 MT Australia: 160,000 MT Canada: 130,000 MT Raw Material Form Grade/Quality Price Paid by Refiners Major Sources Notes Laterite Ore (Limonitic) 0.8-1.5% Ni $25-40/MT Indonesia, Philippines HPAL processing, high cobalt content Laterite Ore (Saprolitic) 1.5-2.5%
⚠️ Seawater Nickel Extraction
Commercial Viability: NOT ECONOMICALLY VIABLE Concentration: 0.0002-0.0007 ppm (extremely low) Chemical Form: Ni²⁺ and NiCl⁺ complexes Status: No commercial concentrated seawater nickel form exists anywhere globally. The extremely low concentration (lower than aluminum) and high energy requirements make extraction uneconomical compared to ore mining. Note: While some transition metals like vanadium have been studied for seawater extraction, nickel remains impractical due to its low concentration and strong competition from land-based ores.
Production cost analysis
| Cost Component | $/MT Nickel | % of Total Cost | Notes |
|---|---|---|---|
| Ore Cost (40-100 MT needed) | $2,000-4,000 | 15-25% | Varies by ore grade and type |
| Energy (Electricity + Coal/Gas) | $3,000-5,000 | 25-35% | See detailed breakdown below |
| Labor | $1,500-2,500 | 10-15% | Varies by country and process |
| Chemicals & Consumables | $2,000-3,500 | 15-20% | Acid, limestone, electrodes |
| Maintenance & Overhead | $2,500-4,000 | 20-25% | Equipment, facilities, admin |
| Total Production Cost | $11,000-19,000 | 100% | Compare to selling price: $16,000-18,000/MT |
Energy consumption breakdown
| Process Stage | Energy Consumption | % of Total Energy | Energy Type | Key Operations |
|---|---|---|---|---|
| RKEF Smelting | 120 GJ/t Ni | 69% | Coal/Electricity | Rotary kiln (900°C), Electric furnace (1500°C) |
| Ore Preparation/Drying | 30 GJ/t Ni | 17% | Coal/Natural Gas | Moisture reduction from 35% to 20% |
| Refining (Matte to Metal) | 20 GJ/t Ni | 11% | Electricity/Natural Gas | Electrorefining or carbonyl process |
| Auxiliary Systems | 5 GJ/t Ni | 3% | Mixed | Material handling, pollution control |
HPAL Process Energy Details
Ore Preparation: 10% - Crushing, slurrying High Pressure Acid Leaching: 55% - Steam to 250°C, 40 bar Neutralization: 15% - Limestone addition, mixing Precipitation: 10% - Mixed hydroxide precipitate Hydrogen Reduction: 10% - Converting to metal
Sulfide Smelting Energy Details
Concentration: 5% - Flotation process Flash Smelting: 60% - 1200-1300°C oxidation Converting: 20% - Matte to metal sulfide Electrorefining: 10% - Final purification Auxiliary: 5% - Gas handling, acid plant
Commercial forms & specifications
| Product Form | Chemical Formula | Molecular Weight | Typical Purity | Price Range (USD/kg) | Main Applications |
|---|---|---|---|---|---|
| LME Grade Nickel Cathode | Ni | 58.69 g/mol | 99.80% min | $16.00-18.00 | Stainless steel, alloys, plating |
| Nickel Briquettes | Ni | 58.69 g/mol | 99.0-99.8% | $15.50-17.50 | Stainless steel, foundries |
| Nickel Pellets/Shot | Ni | 58.69 g/mol | 99.90-99.99% | $18.00-22.00 | Plating, electronics |
| Ferronickel | FeNi | Variable | 15-45% Ni | $25-55/kg Ni | Stainless steel production |
| Nickel Pig Iron (NPI) | Fe-Ni-C | Variable | 1.5-15% Ni | $100-150/MT | Low-grade stainless steel |
| Nickel Sulfate Hexahydrate | NiSO₄·6H₂O | 262.85 g/mol | 22.3% Ni | $4.50-6.00 | Battery precursors, plating |
| Nickel Oxide (Green) | NiO | 74.69 g/mol | 78.6% Ni | $18.00-22.00 | Catalysts, ceramics, batteries |
| Nickel Hydroxide | Ni(OH)₂ | 92.71 g/mol | 63.3% Ni | $12.00-16.00 | Battery cathodes |
| Nickel Powder (Carbonyl) | Ni | 58.69 g/mol | 99.8-99.99% | $25.00-45.00 | Powder metallurgy, catalysts |
| Nickel Powder (Atomized) | Ni | 58.69 g/mol | 99.5-99.9% | $30.00-60.00 | 3D printing, thermal spray |
| Nickel Chloride Hexahydrate | NiCl₂·6H₂O | 237.69 g/mol | 24.7% Ni | $3.50-5.00 | Plating, catalysts |
| Nickel Carbonyl | Ni(CO)₄ | 170.73 g/mol | 34.4% Ni | $80.00-120.00 | CVD, ultra-pure nickel |
Suppliers by country
🇷🇺 Russia
| Company | Product Forms | Specialties |
|---|---|---|
| Norilsk Nickel (Nornickel) | Cathodes, briquettes, carbonyl powder, salts | World's largest high-grade nickel producer, palladium/platinum byproducts |
🇧🇷 Brazil
| Company | Product Forms | Specialties |
|---|---|---|
| Vale S.A. | Pellets, briquettes, powder, oxide | Integrated laterite operations, low-carbon nickel |
🇨🇳 China
| Company | Product Forms | Specialties |
|---|---|---|
| Jinchuan Group | Cathodes, salts, powder | China's largest nickel producer |
| Tsingshan Holding Group | Ferronickel, NPI, matte | World's largest stainless steel producer |
| GEM Co. | Nickel sulfate, cobalt products | Battery materials, recycling |
🇮🇩 Indonesia
| Company | Product Forms | Specialties |
|---|---|---|
| PT Vale Indonesia | Nickel matte | Laterite processing, hydrometallurgy |
| Harita Nickel | Ferronickel, nickel matte | RKEF smelting operations |
🇬🇧 UK / 🇨🇭 Switzerland
| Company | Product Forms | Specialties |
|---|---|---|
| Glencore | Cathodes, ferronickel, chemicals | Integrated operations, cobalt byproducts |
🇦🇺 Australia
| Company | Product Forms | Specialties |
|---|---|---|
| BHP Group | Nickel sulfate, powder, briquettes | Nickel West operations, battery materials |
| IGO Limited | Nickel concentrate | Nova operation, lithium joint ventures |
🇨🇦 Canada
| Company | Product Forms | Specialties |
|---|---|---|
| Sherritt International | Briquettes, powder, chemicals | Hydrometallurgy expertise, cobalt |
| First Quantum Minerals | Nickel concentrate | Ravensthorpe operation |
🇯🇵 Japan
| Company | Product Forms | Specialties |
|---|---|---|
| Sumitomo Metal Mining | Cathodes, sulfate, hydroxide | HPAL technology, battery materials |
| Mitsui & Co. | Various forms (trader) | Global nickel trading, project investments |
Market demand by product form
| Product Form | Global Market Size | USA Market | China Market | Growth Rate (CAGR) |
|---|---|---|---|---|
| Primary Nickel (Cathodes/Briquettes) | $35 billion | 4% share | 60% share | 5.2% |
| Ferronickel/NPI | $18 billion | 2% share | 75% share | 3.8% |
| Nickel Sulfate (Battery Grade) | $8.5 billion | 12% share | 65% share | 22.5% |
| Nickel Powder (All Types) | $2.1 billion | 18% share | 35% share | 7.5% |
| - Carbonyl Powder | $0.8 billion | 20% share | 30% share | 5.5% |
| - Atomized Powder | $0.6 billion | 25% share | 28% share | 12.0% |
| - Electrolytic Powder | $0.7 billion | 12% share | 45% share | 6.0% |
| Other Nickel Chemicals | $3.2 billion | 8% share | 48% share | 8.5% |
Market trends
Battery Revolution: EV battery demand driving 400% increase in nickel sulfate demand by 2030 Indonesia Dominance: Export ban on raw ore forcing downstream investment, $25 billion in new HPAL/RKEF capacity Class 1 vs Class 2: Growing premium for battery-grade Class 1 nickel (>99.8% purity) over ferronickel ESG Pressure: Carbon footprint becoming critical - HPAL produces 45-60t CO₂/t Ni vs 15-20t for sulfide Supply Concerns: Despite Indonesia growth, Class 1 nickel shortage expected by 2027 Technology Shift: High Pressure Acid Leaching (HPAL) overtaking traditional smelting for laterites Recycling Growth: Battery recycling to provide 15% of nickel supply by 2030 Price Volatility: LME nickel suspended trading in March 2022, market structure under review
Moles per kilogram
| Product Form | Formula | MW (g/mol) | Moles/kg |
|---|---|---|---|
| Nickel Metal | Ni | 58.69 | 17.04 |
| Nickel Oxide | NiO | 74.69 | 13.39 |
| Nickel Hydroxide | Ni(OH)₂ | 92.71 | 10.79 |
| Nickel Sulfate (anhydrous) | NiSO₄ | 154.76 | 6.46 |
| Nickel Sulfate (hexahydrate) | NiSO₄·6H₂O | 262.85 | 3.80 |
| Nickel Chloride (anhydrous) | NiCl₂ | 129.60 | 7.72 |
| Nickel Chloride (hexahydrate) | NiCl₂·6H₂O | 237.69 | 4.21 |
References
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