Energy Storage Focus: LFP Batteries Emerge as a Second Marginal Increment to Sulfur Demand

The International Nickel Study Group (INSG) held a meeting in Lisbon, Portugal, on October 6, 2025. Government and industry representatives from member states, observer countries, and several international organizations attended, engaging in extensive discussions on the current development trends of the nickel market. Ms. Shirley Wang, Industry Research General Manager at Shanghai Metals Market (SMM), was invited to deliver a speech titled "The Evolving Nickel World: Trends, Risks, and the Road Ahead," focusing on the nickel supply-demand situation in China and Indonesia. The core content and viewpoints are as follows:

The supply-demand pattern for nickel intermediate products remained tight, with prices showing an upward trend.