Sulphates; of Nickel Price in Serbia - 2023

Sulphates; of Nickel Price in Serbia (CIF) - 2022

In 2022, the average sulphates; of nickel import price amounted to $6,641 per ton, growing by 30% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphates; of nickel import price increased by +44.8% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($7,667 per ton), while the price for Austria ($6,337 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Sulphates; of Nickel Price in Serbia (FOB) - 2022

The average sulphates; of nickel export price stood at $5,562 per ton in 2022, increasing by 2.2% against the previous year. Overall, the export price, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2016 when the average export price increased by 51%. Over the period under review, the average export prices reached the peak figure at $11,960 per ton in 2012; however, from 2013 to 2022, 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 Bosnia and Herzegovina.

From 2012 to 2022, the rate of growth in terms of prices for Bosnia and Herzegovina amounted to -7.4% per year.

Sulphates; of Nickel Imports in Serbia

In 2022, approx. 2.5 tons of sulphates; of nickels were imported into Serbia; waning by -86.7% against the previous year. Over the period under review, imports continue to indicate a precipitous decline. The pace of growth appeared the most rapid in 2021 with an increase of 174% against the previous year. As a result, imports attained the peak of 19 tons, and then plummeted in the following year.

In value terms, sulphates; of nickel imports fell sharply to $17K in 2022. Overall, imports recorded a sharp setback. The pace of growth was the most pronounced in 2021 when imports increased by 213% against the previous year. As a result, imports attained the peak of $96K, and then fell markedly in the following year.

Import of Sulphates; of Nickel in Serbia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Austria	47.0	26.3	37.8	9.8	-40.7%
Belgium	N/A	N/A	0.2	6.8	3300.0%
Germany	7.3	4.0	53.5	N/A	170.7%
Others	1.9	0.4	4.7	N/A	57.3%
Total	56.3	30.7	96.1	16.7	-33.3%

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

Austria (1550.0 kg)
Belgium (960.0 kg)
Germany (3.0 kg)

Sulphates; of Nickel Exports in Serbia

In 2022, shipments abroad of sulphates; of nickels decreased by -55.9% to 651 kg for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, posted a notable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 146% against the previous year. As a result, the exports reached the peak of 1.5 tons, and then dropped significantly in the following year.

In value terms, sulphates; of nickel exports reduced markedly to $3.6K in 2022. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2021 when exports increased by 265%. As a result, the exports attained the peak of $8K, and then declined sharply in the following year.