Price for Nickel; Unwrought, Not Alloyed in Norway - 2023
Contents:
- Price for Nickel; Unwrought, Not Alloyed in Norway (FOB) - 2023
- Price for Nickel; Unwrought, Not Alloyed in Norway (CIF) - 2022
- Exports of Nickel; Unwrought, Not Alloyed in Norway
- Imports of Nickel; Unwrought, Not Alloyed in Norway
Price for Nickel; Unwrought, Not Alloyed in Norway (FOB) - 2023
The average nickel; unwrought, not alloyed export price stood at $20,297 per ton in September 2023, approximately mirroring the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in December 2022 an increase of 16% against the previous month. The export price peaked at $28,470 per ton in January 2023; however, from February 2023 to September 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In September 2023, the countries with the highest prices were the UK ($20,417 per ton) and the Netherlands ($20,368 per ton), while the average price for exports to Japan ($19,936 per ton) and India ($20,164 per ton) were 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 (+0.6%), while the prices for the other major destinations experienced a decline.
Price for Nickel; Unwrought, Not Alloyed in Norway (CIF) - 2022
In 2022, the average nickel; unwrought, not alloyed import price amounted to $29,120 per ton, picking up by 52% against the previous year. Overall, the import price saw a tangible expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($67,205 per ton), while the price for Sweden ($21,981 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Nickel; Unwrought, Not Alloyed in Norway
In 2022, shipments abroad of nickel; unwrought, not alloyeds decreased by -9.1% to 83K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a perceptible downturn. The pace of growth was the most pronounced in 2020 when exports increased by 0.2% against the previous year. As a result, the exports attained the peak of 92K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, nickel; unwrought, not alloyed exports skyrocketed to $2B in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +17.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 34% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Nickel; Unwrought, Not Alloyed in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 529 | 547 | 201 | 762 | 12.9% |
| United States | 107 | 128 | 169 | 329 | 45.4% |
| South Korea | 66.4 | 53.0 | 107 | 121 | 22.1% |
| India | 81.9 | 82.6 | 133 | 115 | 12.0% |
| China | 111 | 160 | 507 | 114 | 0.9% |
| Sweden | 74.9 | 63.8 | 111 | 102 | 10.8% |
| Hong Kong SAR | 22.0 | 1.4 | 58.0 | 98.5 | 64.8% |
| Japan | 89.0 | 36.6 | 98.1 | 87.4 | -0.6% |
| Spain | 63.4 | 35.1 | 16.1 | 25.4 | -26.3% |
| Others | 110 | 130 | 252 | 293 | 38.6% |
| Total | 1,255 | 1,237 | 1,652 | 2,048 | 17.7% |
Top Export Markets for Nickel; Unwrought, Not Alloyed from Norway in 2022:
- Netherlands (30.6K tons)
- United States (13.1K tons)
- South Korea (5.1K tons)
- China (4.7K tons)
- India (4.6K tons)
- Sweden (4.1K tons)
- Hong Kong SAR (4.0K tons)
- Japan (3.7K tons)
- Spain (1.1K tons)
Imports of Nickel; Unwrought, Not Alloyed in Norway
After three years of growth, supplies from abroad of nickel; unwrought, not alloyeds decreased by -75.9% to 32 tons in 2022. Over the period under review, imports recorded a sharp shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. As a result, imports attained the peak of 133 tons, and then reduced sharply in the following year.
In value terms, nickel; unwrought, not alloyed imports contracted significantly to $929K in 2022. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 56%. As a result, imports attained the peak of $2.5M, and then dropped sharply in the following year.
| Import of Nickel; Unwrought, Not Alloyed in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 184 | 257 | 404 | 426 | 32.3% |
| Sweden | 1,022 | 1,037 | 1,081 | 351 | -30.0% |
| Finland | 70.1 | 53.4 | 90.3 | 150 | 28.9% |
| Japan | 89.3 | 178 | N/A | N/A | 99.3% |
| Belgium | N/A | N/A | 212 | N/A | 0% |
| Germany | 53.4 | 51.7 | N/A | N/A | -3.2% |
| Switzerland | N/A | N/A | 474 | N/A | 0% |
| United Arab Emirates | N/A | N/A | 207 | N/A | 0% |
| Canada | 80.5 | 49.2 | N/A | N/A | -38.9% |
| Others | 1.7 | 0.4 | 71.4 | 2.8 | 18.1% |
| Total | 1,501 | 1,627 | 2,540 | 929 | -14.8% |
Top Suppliers of Nickel; Unwrought, Not Alloyed to Norway in 2022:
- Sweden (15.9 tons)
- France (11.1 tons)
- Finland (4.8 tons)
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