Price for Nickel; Unwrought, Not Alloyed in China - 2023
Contents:
- Price for Nickel; Unwrought, Not Alloyed in China (CIF) - 2023
- Price for Nickel; Unwrought, Not Alloyed in China (FOB) - 2023
- Imports of Nickel; Unwrought, Not Alloyed in China
- Exports of Nickel; Unwrought, Not Alloyed in China
Price for Nickel; Unwrought, Not Alloyed in China (CIF) - 2023
The average nickel; unwrought, not alloyed import price stood at $21,085 per ton in September 2023, shrinking by -3.4% against the previous month. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in December 2022 when the average import price increased by 15% m-o-m. Over the period under review, average import prices reached the maximum at $29,169 per ton in February 2023; however, from March 2023 to September 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the countries with the highest prices were the UK ($22,903 per ton) and Canada ($21,195 per ton), while the price for Norway ($20,662 per ton) and Finland ($20,750 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 South Africa (+0.6%), while the prices for the other major suppliers experienced a decline.
Price for Nickel; Unwrought, Not Alloyed in China (FOB) - 2023
In August 2023, the average nickel; unwrought, not alloyed export price amounted to $20,880 per ton, which is down by -6.9% against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 an increase of 16% against the previous month. Over the period under review, the average export prices reached the peak figure at $28,801 per ton in January 2023; however, from February 2023 to August 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In August 2023, the countries with the highest prices were Malaysia ($24,985 per ton) and India ($21,471 per ton), while the average price for exports to the Netherlands ($20,261 per ton) and Vietnam ($21,038 per ton) were amongst the lowest.
From September 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Nickel; Unwrought, Not Alloyed in China
In 2022, the amount of nickel; unwrought, not alloyeds imported into China shrank dramatically to 156K tons, waning by -40.2% against 2021. In general, imports saw a deep reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 100% against the previous year. As a result, imports reached the peak of 261K tons, and then dropped significantly in the following year.
In value terms, nickel; unwrought, not alloyed imports fell significantly to $4B in 2022. Over the period under review, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 169%. As a result, imports reached the peak of $4.9B, and then contracted rapidly in the following year.
| Import of Nickel; Unwrought, Not Alloyed in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 602 | 413 | 2,425 | 1,270 | 28.3% |
| Russia | 1,158 | 717 | 891 | 1,122 | -1.0% |
| Madagascar | 66.4 | 16.8 | 178 | 395 | 81.2% |
| Norway | 145 | 158 | 633 | 373 | 37.0% |
| Canada | 182 | 186 | 246 | 313 | 19.8% |
| South Africa | 111 | 44.4 | 153 | 212 | 24.1% |
| United Kingdom | 70.6 | 76.1 | 101 | 133 | 23.5% |
| Others | 315 | 214 | 280 | 148 | -22.3% |
| Total | 2,649 | 1,825 | 4,906 | 3,965 | 14.4% |
Top Suppliers of Nickel; Unwrought, Not Alloyed to China in 2022:
- Australia (47.9K tons)
- Russia (45.4K tons)
- Madagascar (15.7K tons)
- Norway (15.0K tons)
- Canada (13.3K tons)
- South Africa (8.4K tons)
- United Kingdom (4.8K tons)
Exports of Nickel; Unwrought, Not Alloyed in China
In 2022, after two years of decline, there was significant growth in shipments abroad of nickel; unwrought, not alloyeds, when their volume increased by 124% to 12K tons. Overall, exports, however, saw a precipitous descent.
In value terms, nickel; unwrought, not alloyed exports fell to $91M in 2022. In general, exports, however, saw a precipitous shrinkage.
| Export of Nickel; Unwrought, Not Alloyed in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 59.9 | 14.8 | 40.0 | 30.7 | -20.0% |
| India | 56.5 | 46.0 | 13.5 | 11.8 | -40.7% |
| Singapore | 136 | 11.5 | 8.1 | 3.5 | -70.5% |
| Japan | 2.9 | 3.5 | 4.5 | 3.3 | 4.4% |
| Netherlands | 1.9 | 1.1 | N/A | 2.1 | 3.4% |
| Malaysia | 2.3 | 4.0 | 1.2 | 1.1 | -21.8% |
| Belgium | 7.7 | 59.0 | N/A | 0.7 | -55.0% |
| Indonesia | 15.9 | 18.8 | 4.3 | 0.2 | -76.7% |
| Hong Kong SAR | 16.4 | N/A | N/A | N/A | 0% |
| Taiwan (Chinese) | 281 | N/A | N/A | N/A | 0% |
| Others | 14.3 | 101 | 31.0 | 37.7 | 38.1% |
| Total | 595 | 260 | 103 | 91.1 | -46.5% |
Top Export Markets for Nickel; Unwrought, Not Alloyed from China in 2022:
- Indonesia (undefinedK tons)
- South Korea (1.7K tons)
- India (0.6K tons)
- Netherlands (0.5K tons)
- Singapore (0.2K tons)
- Japan (0.2K tons)
- Malaysia (0.1K tons)
- Belgium (0.1K tons)
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This report provides an in-depth analysis of the nickel market in China.
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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 China.
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This report provides an in-depth analysis of the nickel market in China.
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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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In February 2023, the price of nickel was $28,259 per ton (CIF, China), representing a 2.4% increase compared to the previous month.
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Discover the top import markets for nickel in the world based on 2023 data. Explore the countries driving demand for nickel across various industries.
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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...
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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%
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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
166
In February 2023, the price of nickel was $28,259 per ton (CIF, China), representing a 2.4% increase compared to the previous month.
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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.
84
Discover the top import markets for nickel in the world based on 2023 data. Explore the countries driving demand for nickel across various industries.
1189
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...
