Sulphates; of Nickel Price in Canada - 2023

Sulphates; of Nickel Price in Canada (CIF) - 2023

In June 2023, the average sulphates; of nickel import price amounted to $5,656 per ton, waning by -7.4% against the previous month. In general, the import price saw a noticeable contraction. The pace of growth was the most pronounced in March 2023 when the average import price increased by 47% m-o-m. As a result, import price attained the peak level of $9,648 per ton. From April 2023 to June 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Norway ($24,248 per ton), while the price for the United States ($4,623 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Finland (+4.7%), while the prices for the other major suppliers experienced a decline.

Sulphates; of Nickel Price in Canada (FOB) - 2023

The average sulphates; of nickel export price stood at $6,425 per ton in June 2023, surging by 20% against the previous month. In general, the export price, however, showed a pronounced decline. The growth pace was the most rapid in March 2023 an increase of 68% month-to-month. Over the period under review, the average export prices attained the maximum at $9,364 per ton in June 2022; however, from July 2022 to June 2023, the export prices stood at a somewhat lower figure.

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

From June 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to -3.1% per month.

Sulphates; of Nickel Imports in Canada

In 2022, sulphates; of nickel imports into Canada reduced dramatically to 8.7K tons, waning by -16.4% compared with the previous year's figure. Overall, imports saw a abrupt contraction. The growth pace was the most rapid in 2021 when imports increased by 5.7%.

In value terms, sulphates; of nickel imports totaled $56M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +5.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Import of Sulphates; of Nickel in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belgium	14.3	1.5	12.2	30.3	28.4%
United States	12.9	12.2	15.9	16.8	9.2%
Finland	3.6	2.5	0.6	3.4	-1.9%
Norway	6.2	3.1	4.7	2.9	-22.4%
Taiwan (Chinese)	10.2	15.4	16.9	2.6	-36.6%
Others	N/A	0.1	0.1	0.1	0.0%
Total	47.2	34.9	50.2	56.1	5.9%

Top Suppliers of Sulphates; of Nickel to Canada in 2022:

Belgium (4.5K tons)
United States (3.0K tons)
Taiwan (Chinese) (0.5K tons)
Finland (0.5K tons)
Norway (0.2K tons)

Sulphates; of Nickel Exports in Canada

In 2022, approx. 132 tons of sulphates; of nickels were exported from Canada; growing by 155% on the year before. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sulphates; of nickel exports soared to $923K in 2022. In general, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.