Republic of Korea - Unwrought Nickel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingNickel Price in South Korea - 2022
Contents:
- Nickel Price in South Korea (CIF) - 2022
- Nickel Price in South Korea (FOB) - 2022
- Nickel Imports in South Korea
- Nickel Exports in South Korea
Nickel Price in South Korea (CIF) - 2022
The average nickel import price stood at $25,483 per ton in December 2022, with an increase of 6.5% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.9%. The most prominent rate of growth was recorded in May 2022 when the average import price increased by 15% against the previous month. Over the period under review, average import prices hit record highs at $30,863 per ton in June 2022; however, from July 2022 to December 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the highest price was recorded for prices from Japan ($30,725 per ton) and Madagascar ($27,531 per ton), while the price for Canada ($24,284 per ton) and Finland ($24,390 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by South Africa (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Nickel Price in South Korea (FOB) - 2022
In December 2022, the average nickel export price amounted to $27,482 per ton, rising by 19% against the previous month. Overall, export price indicated a temperate increase from December 2021 to December 2022: its price increased at an average monthly rate of +2.5% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, nickel export price increased by +18.5% against November 2022 indices. The pace of growth was the most pronounced in April 2022 when the average export price increased by 33% against the previous month. As a result, the export price attained the peak level of $32,040 per ton. From May 2022 to December 2022, the the average export prices remained at a lower figure.
Average prices varied somewhat for the major foreign markets. In December 2022, the countries with the highest prices were China ($32,538 per ton) and Vietnam ($32,478 per ton), while the average price for exports to Japan ($22,083 per ton) and the United States ($25,800 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Nickel Imports in South Korea
In 2022, approx. 35K tons of nickel (unwrought) were imported into South Korea; remaining constant against the previous year. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 28%. As a result, imports reached the peak of 35K tons, and then contracted slightly in the following year.
In value terms, nickel imports soared to $895M in 2022. In general, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 68%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Nickel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 166 | 147 | 257 | 259 | 16.0% |
| Canada | 45.7 | 36.9 | 82.9 | 168 | 54.3% |
| Finland | 47.5 | 78.4 | 139 | 167 | 52.1% |
| Norway | 71.5 | 55.4 | 93.3 | 144 | 26.3% |
| Madagascar | 104 | 43.8 | 3.5 | 102 | -0.6% |
| South Africa | 11.8 | 2.2 | 2.9 | 29.4 | 35.6% |
| United Arab Emirates | N/A | N/A | 57.6 | N/A | 0% |
| Others | 24.2 | 25.0 | 15.7 | 25.3 | 1.5% |
| Total | 471 | 388 | 651 | 895 | 23.9% |
Top Suppliers of Nickel to South Korea in 2022:
- Australia (10.5K tons)
- Canada (6.9K tons)
- Finland (6.3K tons)
- Norway (5.4K tons)
- Madagascar (3.7K tons)
- South Africa (1.1K tons)
Nickel Exports in South Korea
Nickel exports from South Korea soared to 3.4K tons in 2022, growing by 37% against the year before. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, nickel exports surged to $87M in 2022. Overall, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Nickel in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.6 | 0.8 | 15.5 | 43.2 | 111.0% |
| India | 21.1 | 14.8 | 14.9 | 13.2 | -14.5% |
| Vietnam | 0.8 | 1.0 | 1.5 | 13.2 | 154.6% |
| Japan | 0.2 | 4.2 | 9.4 | 9.6 | 263.4% |
| United States | N/A | N/A | N/A | 5.1 | 0% |
| Pakistan | N/A | 0.1 | 0.3 | 1.6 | 300.0% |
| Taiwan (Chinese) | N/A | 3.5 | 1.6 | 0.1 | -83.1% |
| Others | 1.7 | 1.7 | 2.6 | 1.6 | -2.0% |
| Total | 28.4 | 26.1 | 45.9 | 87.5 | 45.5% |
Top Export Markets for Nickel from South Korea in 2022:
- China (1611.3 tons)
- India (567.0 tons)
- Vietnam (520.2 tons)
- Japan (343.9 tons)
- United States (198.0 tons)
- Pakistan (61.0 tons)
- Taiwan (Chinese) (2.4 tons)
This report provides an in-depth analysis of the nickel market in Republic of Korea. 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:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the nickel market in Republic of Korea.
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This report provides an in-depth analysis of the global nickel market.
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This report provides an in-depth analysis of the nickel market in Republic of Korea.
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This report provides an in-depth analysis of the nickel market in Republic of Korea.
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This report provides an in-depth analysis of the global nickel market.
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This report provides an in-depth analysis of the global nickel market.
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Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
789
Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
986
Canada continued to dominate in the global unwrought nickel trade. In 2014, Canada exported X thousand tons of unwrought nickel totaling X million USD, X% under the previous year. Its primary trading partner was the U.S., where it supplied X%
1792
The Russian Federation dominates in the global unwrought nickel trade. In 2014, Russian Federation exported more than X thousand tons of unwrought nickel totaling X billion USD, X% over the previous year. Its primary trading partner was China, wh
866
Nickel prices skyrocketed on the expectations of a shortage on the global market provoked by the increase in demand that outpaces the supply growth. The rebound in the steel industry and rising electric vehicle manufacturing drive nickel consumption. Pandemic-related lockdowns in the first half of 2020 and the related uncertainty led to a decrease in the global nickel mine output by -4% y-o-y. Despite this, refined nickel production increased by +2% y-o-y, boosted by the recovering demand from mid-2020 and the use of secondary smelting. Indonesia, the largest nickel ore producer worldwide, banned exports of the ore and thus achieved a record output of refined nickel.
1169
Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
789
Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
986
Canada continued to dominate in the global unwrought nickel trade. In 2014, Canada exported X thousand tons of unwrought nickel totaling X million USD, X% under the previous year. Its primary trading partner was the U.S., where it supplied X%
1792
The Russian Federation dominates in the global unwrought nickel trade. In 2014, Russian Federation exported more than X thousand tons of unwrought nickel totaling X billion USD, X% over the previous year. Its primary trading partner was China, wh
