Price for Nickel; Bars, Rods, Profiles and Wire in Hungary - 2023

Contents:

1. Price for Nickel; Bars, Rods, Profiles and Wire in Hungary (CIF) - 2023
2. Price for Nickel; Bars, Rods, Profiles and Wire in Hungary (FOB) - 2023
3. Imports of Nickel; Bars, Rods, Profiles and Wire in Hungary
4. Exports of Nickel; Bars, Rods, Profiles and Wire in Hungary

Price for Nickel; Bars, Rods, Profiles and Wire in Hungary (CIF) - 2023

In August 2023, the average import price for nickel; bars, rods, profiles and wires amounted to $102K per ton, picking up by 39% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 39% month-to-month. Over the period under review, average import prices hit record highs at $109K per ton in December 2022; however, from January 2023 to August 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($485K per ton), while the price for China ($37,897 per ton) was amongst the lowest.

From December 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Germany (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Nickel; Bars, Rods, Profiles and Wire in Hungary (FOB) - 2023

In July 2023, the average export price for nickel; bars, rods, profiles and wires amounted to $65,042 per ton, surging by 3% against the previous month. Overall, the export price, however, recorded a perceptible descent. The pace of growth appeared the most rapid in March 2023 when the average export price increased by 15% against the previous month. Over the period under review, the average export prices reached the peak figure at $78,000 per ton in November 2022; however, from December 2022 to July 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 Poland.

From November 2022 to July 2023, the rate of growth in terms of prices for the Czech Republic amounted to +2.9% per month.

Imports of Nickel; Bars, Rods, Profiles and Wire in Hungary

In 2022, after three years of growth, there was significant decline in overseas purchases of nickel; bars, rods, profiles and wires, when their volume decreased by -28.9% to 84 tons. In general, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 92%. As a result, imports attained the peak of 118 tons, and then dropped rapidly in the following year.

In value terms, imports of nickel; bars, rods, profiles and wires contracted remarkably to $5.3M in 2022. Over the period under review, imports, however, posted moderate growth. The most prominent rate of growth was recorded in 2021 with an increase of 111%. As a result, imports attained the peak of $7.4M, and then fell dramatically in the following year.

Top Suppliers of Nickel; Bars, Rods, Profiles and Wire to Hungary in 2022:

1. Germany (42.0 tons)
2. United States (18.7 tons)
3. Netherlands (12.4 tons)
4. Ukraine (2.6 tons)
5. India (1.9 tons)
6. United Kingdom (1.7 tons)
7. France (1.4 tons)
8. Czech Republic (0.5 tons)

Exports of Nickel; Bars, Rods, Profiles and Wire in Hungary

For the fourth consecutive year, Hungary recorded growth in overseas shipments of nickel; bars, rods, profiles and wires, which increased by 13% to 21 tons in 2022. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 204% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of nickel; bars, rods, profiles and wires skyrocketed to $1.2M in 2022. In general, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Nickel; Bars, Rods, Profiles and Wire from Hungary in 2022:

1. Poland (16.4 tons)
2. Belarus (2.6 tons)
3. United Kingdom (1.2 tons)
4. Serbia (0.4 tons)

Source: IndexBox Market Intelligence Platform