Nickel Market - Canada Remains the Global Leader in Unwrought Nickel Exports

Basic Precious Metals August 20, 2015
Author: Alexander Romanenko
Chief Executive Officer

nickel market

Canada continued to dominate on the nickel market. In 2014, Canada exported 122 thousand tonnes of unwrought nickel totaling 2,084 million USD, 1% under the previous year. Its primary trading partner was the U.S., where it supplied 43% of its total unwrought nickel exports in value terms, accounting for the lion's share of the U.S.'s total imports.

From 2007 to 2014, Canada was a net exporter of unwrought nickel. Over this period, exports consistently exceeded imports in value terms. In physical terms, the difference was between imports and exports was negligible.

China and Norway were among the other main global suppliers of unwrought nickel in 2014. China was also the fastest growing exporter from 2007 to 2014 (+21% per year). By virtue of this, China significantly strengthened its position in the global export structure.

Canada's top 5 trading partners in 2014 were the U.S., the Netherlands, China, Belgium and Japan, with a combined 79% share of Canada's unwrought nickel exports. The share of the Netherlands increased (+8 percentage points), while the share of China illustrated negative dynamics (-7 percentage points).

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Source: World: Nickel (Unwrought) - Market Report. Analysis and Forecast to 2020