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Canada - Nickel (Unwrought) - Market Analysis, Forecast, Size, Trends And Insights
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Article Publishing Date: Mar 6, 2023
Canada's Nickel Price Surges to $26.8 per kg After Four Consecutive Months of Increase
Canada Nickel Export Price in December 2022
In December 2022, the nickel price stood at $26.8 per kg (FOB, Canada), picking up by 11% against the previous month. Over the period from January 2022 to December 2022, it increased at an average monthly rate of +2.3%. The pace of growth appeared the most rapid in March 2022 when the average export price increased by 22% against the previous month. The export price peaked at $32.5 per kg in May 2022; however, from June 2022 to December 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In December 2022, the highest price was recorded for prices to Japan ($30.0 per kg) and Taiwan (Chinese) ($29.1 per kg), while the average price for exports to South Korea ($24.5 per kg) and the Netherlands ($25.1 per kg) were amongst the lowest.
From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.
Canada Nickel Exports
In December 2022, shipments abroad of nickel (unwrought) decreased by -8.8% to 8.9K tons, falling for the second month in a row after three months of growth. In general, total exports indicated a slight increase from January 2022 to December 2022: its volume increased at an average monthly rate of +1.7% over the last eleven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, exports decreased by -27.1% against October 2022 indices. The most prominent rate of growth was recorded in April 2022 when exports increased by 31% month-to-month. Over the period under review, the exports hit record highs at 12K tons in October 2022; however, from November 2022 to December 2022, the exports remained at a lower figure.
In value terms, nickel exports amounted to $239M (IndexBox estimates) in December 2022. Over the period under review, total exports indicated noticeable growth from January 2022 to December 2022: its value increased at an average monthly rate of +4.0% over the last eleven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, exports decreased by -14.8% against October 2022 indices. The most prominent rate of growth was recorded in April 2022 when exports increased by 45% against the previous month. Over the period under review, the exports hit record highs at 293K tons in May 2022; however, from June 2022 to December 2022, the exports failed to regain momentum.
Canada Nickel Exports by Country
The United States (3.8K tons) was the main destination for nickel exports from Canada, with a 42% share of total exports. Moreover, nickel exports to the United States exceeded the volume sent to the second major destination, China (1.3K tons), threefold. The third position in this ranking was taken by Taiwan (Chinese) (981 tons), with an 11% share.
From January 2022 to December 2022, the average monthly growth rate of volume to the United States stood at +1.6%. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (+2.2% per month) and Taiwan (Chinese) (+23.3% per month).
In value terms, the United States ($99M) remains the key foreign market for nickel exports from Canada, comprising 41% of total exports. The second position in the ranking was held by China ($35M), with a 15% share of total exports. It was followed by Taiwan (Chinese), with a 12% share.
From January 2022 to December 2022, the average monthly rate of growth in terms of value to the United States amounted to +3.7%. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (+5.0% per month) and Taiwan (Chinese) (+26.0% per month).
Factors Affecting Nickel Prices
The nickel price in Canada is determined by a number of factors, including global supply and demand, the US-Canada exchange rate, and the price of other metals. Canadian nickel producers are also major players in the global market, so their production costs and strategies can impact the price.
Nickel is used in a variety of industries, including stainless steel production, so changes in demand from these industries can also affect the price. For example, if there is an increase in demand for stainless steel products, this could lead to an increase in the price of nickel.
The nickel price in Canada is currently at an all-time high, and there are a variety of factors that have contributed to this. First and foremost, demand for nickel has been steadily increasing in recent years due to its use in a variety of industries, including the production of stainless steel and batteries. Additionally, supply of nickel has been constrained as mines have struggled to keep up with demand.
This report provides an in-depth analysis of the nickel market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
• Prodcom 24451100 - Nickel, unwrought
• Prodcom 24451110 -
• Prodcom 24451120 -
Country coverage:
• Canada
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Canada
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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