Sumitomo Metal Mining Co Ltd (5713.T)
21 Sep 2018
TOKYO Japan's Sumitomo Metal Mining Co Ltd (SMM) plans to focus on two key customers for its battery materials, Toyota Motor Corp and Panasonic Corp, supplier of car power packs to Tesla Inc, SMM's new president said.
LONDON/TOKYO Panasonic Corp said it was unable to determine how much of the cobalt used in batteries it makes for Tesla cars comes from Cuba, a country subject to U.S. sanctions, and that it had suspended relations with a Canadian supplier as a result of its concerns.
TOKYO, June 14 Sumitomo Metal Mining, Japan's biggest nickel smelter, expects a global nickel market deficit to widen to 88,000 tonnes this year, from 72,000 tonnes last year, amid solid demand for stainless steel and batteries, an official said on Thursday. Global demand for nickel is seen increasing by 7.3 percent in 2018 from last year to 2.298 million tonnes, while supply rises 6.8 percent to 2.210 million tonnes, the company said. "We expect higher demand for stain