Nickel Ore Price in Guatemala - 2023

Nickel Ore Price in Guatemala (FOB) - 2022

The average nickel ore export price stood at $36 per ton in 2022, reducing by -14.8% against the previous year. In general, the export price continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2019 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices reached the peak figure at $49 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was North Macedonia ($3,450 per ton), while the average price for exports to Greece ($1,153 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+92.4%), while the prices for the other major destinations experienced more modest paces of growth.

Nickel Ore Price in Guatemala (CIF) - 2022

In 2022, the average nickel ore import price amounted to $35,000 per ton, declining by -25.5% against the previous year. Over the period under review, the import price showed a abrupt setback. Over the period under review, average import prices hit record highs at $73,250 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -7.1% per year.

Nickel Ore Exports in Guatemala

In 2022, shipments abroad of nickel ores and concentrates decreased by -29.4% to 1.7M tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 127%.

In value terms, nickel ore exports dropped notably to $60M in 2022. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 129%.

Export of Nickel Ore in Guatemala (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	0.9	7.0	18.7	35.9	241.7%
Ukraine	14.8	44.6	71.9	10.6	-10.5%
North Macedonia	2.9	3.9	5.6	7.3	36.0%
South Korea	N/A	N/A	N/A	3.3	0%
Japan	N/A	N/A	N/A	1.9	0%
Greece	6.0	1.0	1.2	1.0	-45.0%
Dominican Republic	N/A	N/A	2.4	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	24.6	56.5	99.8	60.1	34.7%

Top Export Markets for Nickel Ore from Guatemala in 2022:

China (31.1K tons)
Ukraine (5.3K tons)
South Korea (2.7K tons)
North Macedonia (2.1K tons)
Japan (1.6K tons)
Greece (0.9K tons)

Nickel Ore Imports in Guatemala

In 2022, imports of nickel ores and concentrates into Guatemala reduced dramatically to 2 kg, with a decrease of -33.3% against the previous year. Overall, imports faced a sharp downturn.

In value terms, nickel ore imports declined rapidly to $70 in 2022. In general, imports showed a precipitous contraction.