The share of nickel production going into batteries has risen quickly in recent years:<p><a href="https://www.statista.com/statistics/1257902/share-of-nickel-consumption-for-batteries-worldwide/" rel="nofollow">https://www.statista.com/statistics/1257902/share-of-nickel-...</a><p>15% of consumption in 2022, up from 3% in 2015.<p>Nonetheless, stainless steel is still the largest consumer by far:<p><a href="https://www.usgs.gov/centers/national-minerals-information-center/nickel-statistics-and-information" rel="nofollow">https://www.usgs.gov/centers/national-minerals-information-c...</a><p><i>Nickel is primarily sold for first use as refined metal (cathode, powder, briquet, etc.) or ferronickel. About 65% of the nickel consumed in the Western World is used to make austenitic stainless steel. Another 12% goes into superalloys (e.g., Inconel 600) or nonferrous alloys (e.g., cupronickel). Both families of alloys are widely used because of their corrosion resistance. The aerospace industry is a leading consumer of nickel-base superalloys. Turbine blades, discs and other critical parts of jet engines are fabricated from superalloys. Nickel-base superalloys are also used in land-based combustion turbines, such those found at electric power generation stations. The remaining 23% of consumption is divided between alloy steels, rechargeable batteries, catalysts and other chemicals, coinage, foundry products, and plating.</i><p>I expect that the share of consumption going to batteries will plateau this decade, since nickel-free lithium iron phosphate batteries are rapidly growing market share:<p><a href="https://source.benchmarkminerals.com/article/what-to-expect-for-cathode-markets-in-2024" rel="nofollow">https://source.benchmarkminerals.com/article/what-to-expect-...</a><p><i>The rise of cheaper lithium iron phosphate (LFP) batteries will continue this year, with the cell chemistry set to account for almost 50% of all market demand. LFP cells are forecast to increase their market share to 48% in 2024, from 45% of demand in 2023, according to Benchmark’s Lithium Ion Battery Database.</i><p>And sodium ion batteries free of nickel <i>and</i> lithium are now commercially available and ramping up production:<p>"China's first large-scale sodium battery energy storage station now operational" <a href="https://news.ycombinator.com/item?id=40454047">https://news.ycombinator.com/item?id=40454047</a><p>"Lithium-free sodium batteries exit the lab and enter US production" <a href="https://news.ycombinator.com/item?id=40248627">https://news.ycombinator.com/item?id=40248627</a><p>Which is to say that safety conditions in Indonesian nickel facilities will probably still be poor, but won't have a lot to do with batteries.