South-Eastern Asia: Nickel Market 2022

Nickel Market Size in South-Eastern Asia

In 2021, the Southeast Asian nickel market decreased by -X% to $X for the first time since 2011, thus ending a nine-year rising trend. In general, consumption, however, enjoyed significant growth. The level of consumption peaked at $X in 2020, and then fell slightly in the following year.

Nickel Production in South-Eastern Asia

In value terms, nickel production contracted modestly to $X in 2021 estimated in export price. Overall, production, however, posted a significant expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Production By Country in South-Eastern Asia

Indonesia (X tons) remains the largest nickel producing country in South-Eastern Asia, accounting for X% of total volume. Moreover, nickel production in Indonesia exceeded the figures recorded by the second-largest producer, Myanmar (X tons), more than tenfold.

In Indonesia, nickel production increased at an average annual rate of +X% over the period from 2012-2021.

Nickel Exports

Exports in South-Eastern Asia

In 2021, the amount of nickel exported in South-Eastern Asia stood at X tons, growing by X% against 2020. Total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -X% against 2017 indices. The growth pace was the most rapid in 2013 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, nickel exports amounted to $X in 2021. The total export value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2021. It was distantly followed by Indonesia (X tons), constituting a X% share of total exports. Malaysia (X tons) occupied a minor share of total exports.

Exports from Singapore increased at an average annual rate of +X% from 2012 to 2021. At the same time, Indonesia (+X%) and Malaysia (+X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +X% from 2012-2021. Indonesia (+X p.p.) and Malaysia (+X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -X% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest nickel supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total exports.

In Singapore, nickel exports increased at an average annual rate of +X% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Malaysia (+X% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, dropping by -X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2020, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+X%), while the other leaders experienced a decline in the export price figures.

Nickel Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of nickel were imported in South-Eastern Asia; which is down by -X% compared with the year before. Overall, imports recorded a perceptible descent. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, nickel imports totaled $X in 2021. In general, imports showed a abrupt decline. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Singapore dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2021. It was distantly followed by Indonesia (X tons), Thailand (X tons) and Malaysia (X tons), together comprising a X% share of total imports. Vietnam (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to nickel imports into Singapore stood at -X%. At the same time, Indonesia (+X%), Malaysia (+X%) and Vietnam (+X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +X% from 2012-2021. By contrast, Thailand (-X%) illustrated a downward trend over the same period. Indonesia (+X p.p.) and Malaysia (+X p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported nickel in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to -X%. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+X% per year) and Thailand (-X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, rising by X% against the previous year. Over the period under review, the import price, however, continues to indicate a slight shrinkage. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($X per ton), while Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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