Which Country Exports the Most Unwrought Nickel in the World?

Basic Precious Metals May 28, 2018
Author: Anna Sergeeva
Market Analyst

In 2016, the global nickel exports amounted to 1M tonnes, going down by -3.5% against the previous year level. The total export volume increased at an average annual rate of +1.8% over the period from 2007 to 2016; however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013, when export increased by 17% from the previous year level. Over the period under review, global nickel exports reached its maximum volume of 1.1M tonnes in 2015, falling back in the following year.

In value terms, nickel exports amounted to $9.8B in 2016. In general, nickel exports continue to indicate a abrupt deduction. Global nickel export peaked of $28B in 2007; however, from 2008 to 2016, it stood at a somewhat lower level.

Top Nickel Exporting Countries in the World

1. Russia (1,703.4 million USD)

2. Canada (1,489.1 million USD)

3. Australia (1,430.6 million USD)

4. Norway (900.7 million USD)

5. Netherlands (573.3 million USD)

6. Malaysia (493.5 million USD)

7. United Kingdom (429.3 million USD)

8. Madagascar (400.5 million USD)

9. Finland (400.1 million USD)

10. South Africa (296.8 million USD)

11. Singapore (287.3 million USD)

12. Japan (281.9 million USD)

Nickel Exports By Country

The countries with the highest levels of nickel exports in 2016 were Russia (186K tonnes), Australia (146K tonnes), Canada (140K tonnes), and Norway (95K tonnes), together resulting at 56% of total export. The Netherlands (60K tonnes) held the second position in the ranking, followed by Malaysia (56K tonnes). All these countries together took near 11% share of total exports. The following exporters - Madagascar (42K tonnes), Finland (41K tonnes), the UK (38K tonnes), South Africa (33K tonnes), Singapore (32K tonnes), and Japan (31K tonnes) together made up 21% of total exports.

From 2007 to 2016, the most notable growth rate of nickel exports, among the main exporting countries, was attained by Japan (+39.8% per year), while the other global leaders experienced more modest paces of growth.

In value terms, the largest nickel markets worldwide were Russia ($1.7B), Canada ($1.5B) and Australia ($1.4B), together comprising 47% of global exports.Norway, the Netherlands, Malaysia, the UK, Madagascar, Finland, South Africa, Singapore and Japan lagged somewhat behind, together accounting for a further 41%.

Japan (+23.4% per year) had the highest rates of growth with regard to the nickel exports, in terms of the main exporting countries, over the last 9 years, while the other global leaders experienced more modest paces of growth.

Nickel Export Prices By Country

The average nickel export price stood at $9,681 per tonne in 2016, falling by -23.0% against the previous year. Overall, nickel export price continues to indicate a drastic downturn. The growth pace was the most rapid in 2010, an increase of 39% y-o-y. Over the period under review, average nickel export price attained its maximum level of $32 per kg in 2007; however, from 2008 to 2016, it stood at a somewhat lower level.

Average export prices varied somewhat amongst major exporting countries. In 2016, major exporting countries recorded the following export prices: in the UK ($11 per kg) and Canada ($11 per kg), while Malaysia ($8,853 per tonne) and South Africa ($9,003 per tonne) were among the lowest.

From 2007 to 2016, the most notable growth rate of nickel export prices was attained by Madagascar (-5.4% per year), while the other global leaders experienced a decline in the export price figures.

Do you want to know more about global nickel market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • nickel market share
  • nickel prices
  • nickel industry
  • nickel sales
  • nickel import
  • nickel export
  • nickel market forecast
  • nickel price forecast
  • key nickel producers

All data provided in this article covers the following product: HS Code 7502 - Nickel; unwrought.

Source: World: Nickel (Unwrought) - Market Report. Analysis and Forecast to 2025