Global supply chain bottlenecks and material shortages have limited supply in the face of strong demand for stainless steel and batteries for electric vehicle production. In this article, we are going to discuss and analyze the nickel price and the important factors which affect it, as well as nickel reserves. Stay with us for more information about nickel wire.
Why nickel wire is so expensive?
Nickel is the fifth most common element on earth and has many properties and usage. Nickel consumption per capita in the world is high and almost 70% of it is used in the production of stainless steel. Nickel is available in the form of ingots, grains and wire. The use of nickel wire is more common than other types. A very important issue for buyers is the nickel wire price. Nickel wire is so expensive and it depends on many factors.
In the following, we will examine the factors affecting the price of nickel wire 0025mm.
The first factor is the purity percentage of the nickel wire. Of course, As the purity percentage get higher, the price increases. The process of preparing high purity nickel wire is difficult and expensive, so these factors can play a significant role in determining its price.
Production of nickel wire:
The production method of nickel wire 0.025mm is difficult and sensitive because nickel is a heavier metal than gold, which makes it more expensive than gold wire. Melting nickel requires a lot of energy due to its high resistance and its impurity compared to other metals such as gold, which makes the production process very expensive. This issue is one of the important reasons why nickel wire is expensive.
Another factor that affects the nickel wire price is nickel wire thickness. As well as each gram of nickel wire is 227 meters long.
One of the reasons for the high price of nickel wire is its usage and properties:
Due to the high resistance of nickel against corrosion, melting, rupture and its magnetic properties, nickel wire is widely used in nuclear powerplants, aerospace industry, defense industry and etc.
This metal also has catalytic properties and can be recycled 100%. It’s one of the best features of nickel, which makes it a rare metal.
Safe keeping receipt (SKR):
The product standard certificate allows you to use it as a financial instrument for collateral and bank loans. All these five reasons are the answer to the question why nickel wire is expensive. We will examine other questions in the following.
Is nickel in high demand?
Since nickel wire has many properties and applications, its global demand will gently increase. According to the news on the Reuters website, the global demand for nickel should increase 44% by the next decade (2030). This is due to the increasing demand for electric vehicle batteries, which will make nickel wire more expensive.
Where are the largest nickel reserves and will we run out of nickels?
The largest nickel reserves are located in the Philippines, Russia and Indonesia. You may be wondering when the nickel deposits will run out. It is impossible to say for sure, but based on currently available data, it can be predicted that known nickel deposits will run out in the early 2040s. This issue can make nickel wire more expensive in the future.
Contact us to invest through nickel wire
Mr. Cyrus Zareen is the founder and CEO of company with +20 years Leadership experience from various manufacturing industries and he is an ambitious, inspirational, analytic and strategic commercial professional. Also, he educated as electronic engineer with extensive education in management from Norway. If you are a major investor and want to invest in high-value commodities or need to have reliable SKR to use it in your operation, contact us. You can communicate with our consultants through email and phone numbers and collaborate with ZTI investment company.