Nickel, a silvery-white metal with a gentle golden sheen, ranks as Earth’s fifth-most abundant element, embedded in its crust and core. One of four ferromagnetic elements at room temperature—alongside Iron, Cobalt, and Gadolinium—it develops a Nickel oxide layer that curbs corrosion under standard conditions, ensuring lasting durability. This resilience powers its widespread use in stainless steel, nonferrous alloys, electroplating, alloy steel, foundries, and batteries, cementing Nickel’s role across industries with demanding material needs.
Nickel’s role in permanent magnets centers on AlNiCo magnets, the first commercially viable type, with Nickel content ranging from 13–28 wt%. The Nickel price trend significantly affects AlNiCo magnet costs, shaping the Ni price impact. Most cast AlNiCo magnets, except high-coercivity grades like AlNiCo 8 and 9, incorporate recycled Nickel from waste magnets with known compositions, curbing demand for primary metal. Recycled Nickel price fluctuations closely mirror primary Nickel price movements, driving the AlNiCo market.
