U.S. - Unwrought Nickel - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Mar 1, 2024

U.S. - Unwrought Nickel - Market Analysis, Forecast, Size, Trends And Insights

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Nickel Price in the United States - 2023

Contents:

  1. Nickel Price in the United States (CIF) - 2023
  2. Nickel Price in the United States (FOB) - 2023
  3. Nickel Imports in the United States
  4. Nickel Exports in the United States

Nickel Price in the United States (CIF) - 2023

In September 2023, the average nickel import price amounted to $21,710 per ton, almost unchanged from the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 an increase of 8.7% m-o-m. Over the period under review, average import prices attained the peak figure at $27,092 per ton in February 2023; however, from March 2023 to September 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the countries with the highest prices were Canada ($21,976 per ton) and Madagascar ($21,726 per ton), while the price for Finland ($19,841 per ton) and Australia ($20,961 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Russia (+3.0%), while the prices for the other major suppliers experienced a decline.

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Nickel Price in the United States (FOB) - 2023

The average nickel export price stood at $32,536 per ton in September 2023, increasing by 4% against the previous month. Over the period from September 2022 to September 2023, it increased at an average monthly rate of +1.3%. The pace of growth was the most pronounced in October 2022 an increase of 15% m-o-m. The export price peaked at $35,258 per ton in June 2023; however, from July 2023 to September 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Switzerland ($70,019 per ton), while the average price for exports to Canada ($10,482 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Nickel Imports in the United States

After two years of decline, supplies from abroad of unwrought nickel increased by 18% to 96K tons in 2022. In general, imports, however, saw a relatively flat trend pattern.

In value terms, nickel imports skyrocketed to $2.4B in 2022. Overall, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Nickel in the United States (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
Canada7207607781,03312.8%
Norway11512418633542.8%
Russia15179.184.326520.6%
Australia39.765.112925686.1%
Finland16610143.72098.0%
South Africa40.829.614216459.0%
United Kingdom72.342.027.256.8-7.7%
Japan43.520.412.817.0-26.9%
Others30.219.040.273.434.5%
Total1,3791,2411,4452,40820.4%

Top Suppliers of Nickel to the United States in 2022:

  1. Canada (41.2K tons)
  2. Norway (13.2K tons)
  3. Russia (10.2K tons)
  4. Australia (10.0K tons)
  5. Finland (8.3K tons)
  6. South Africa (7.0K tons)
  7. United Kingdom (1.9K tons)
  8. Japan (0.7K tons)

Nickel Exports in the United States

After two years of decline, shipments abroad of unwrought nickel increased by 1.5% to 8.2K tons in 2022. Overall, exports, however, recorded a abrupt slump.

In value terms, nickel exports surged to $243M in 2022. In general, exports, however, recorded a noticeable decrease.

Export of Nickel in the United States (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
Mexico36.632.247.654.514.2%
United Kingdom77.332.821.432.7-24.9%
France81.028.423.521.0-36.2%
Italy14.710.912.819.59.9%
China16.812.219.018.22.7%
Switzerland5.89.310.417.745.0%
Canada7.78.28.615.526.3%
Spain1.18.53.511.9121.2%
Poland7.39.410.29.59.2%
Germany1.612.55.69.077.8%
Belgium2.52.53.86.839.6%
Australia2.81.53.25.827.5%
Japan4.34.86.70.8-42.9%
Others21.419.617.819.6-2.9%
Total281193194243-4.7%

Top Export Markets for Nickel from the United States in 2022:

  1. Mexico (2087.9 tons)
  2. Canada (1200.0 tons)
  3. France (930.1 tons)
  4. Switzerland (574.4 tons)
  5. China (557.1 tons)
  6. United Kingdom (540.0 tons)
  7. Spain (369.5 tons)
  8. Belgium (314.4 tons)
  9. Australia (309.3 tons)
  10. Italy (274.2 tons)
  11. Germany (271.4 tons)
  12. Poland (196.2 tons)
  13. Japan (33.6 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the nickel market in the U.S.. 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:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • 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. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023
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Blog
Event
June 2023 Sees U.S. Nickel Import Plummeting to $194M
Sep 7, 2023
Eye 299

In terms of value, Nickel imports in June 2023 decreased to $194 million.

Which Country Imports the Most Unwrought Nickel in the World?
May 28, 2018
Eye 1154

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...

Which Country Exports the Most Unwrought Nickel in the World?
May 28, 2018
Eye 756

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...

Nickel Market - Canada Remains the Global Leader in Unwrought Nickel Exports
Aug 20, 2015
Eye 975

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%

Russia Ranks First Globally in Exports of Unwrought Nickel, with $3.7B in 2014
Jul 23, 2015
Eye 1779

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

June 2023 Sees U.S. Nickel Import Plummeting to $194M
Sep 7, 2023
Eye 299

In terms of value, Nickel imports in June 2023 decreased to $194 million.

Nickel Prices Shoot Up Due to Supply Lagging Behind Robust Demand
Jul 9, 2021
Eye 851

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. 

Which Country Imports the Most Unwrought Nickel in the World?
May 28, 2018
Eye 1154

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...

Which Country Exports the Most Unwrought Nickel in the World?
May 28, 2018
Eye 756

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...

Nickel Market - Canada Remains the Global Leader in Unwrought Nickel Exports
Aug 20, 2015
Eye 975

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%

Free Data: Unwrought Nickel - United States