Price for Nickel; Bars, Rods, Profiles and Wire in South Africa - 2024

Price for Nickel; Bars, Rods, Profiles and Wire in South Africa (CIF) - 2024

The average import price for nickel; bars, rods, profiles and wires stood at $37,896 per ton in July 2023, which is down by -37.1% against the previous month. Over the period under review, the import price, however, enjoyed strong growth. The growth pace was the most rapid in February 2023 when the average import price increased by 347% m-o-m. The import price peaked at $60,272 per ton in June 2023, and then reduced dramatically in the following month.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Canada ($109K per ton), while the price for South Korea ($2,701 per ton) was amongst the lowest.

From January 2023 to July 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (+91.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Nickel; Bars, Rods, Profiles and Wire in South Africa (FOB) - 2022

The average export price for nickel; bars, rods, profiles and wires stood at $10,094 per ton in 2022, falling by -32.6% against the previous year. Overall, the export price recorded a noticeable reduction. The growth pace was the most rapid in 2021 when the average export price increased by 150%. The export price peaked at $37,973 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Swaziland ($13,231 per ton), while the average price for exports to Mozambique ($2,458 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nickel; Bars, Rods, Profiles and Wire in South Africa

In 2022, approx. 92 tons of nickel; bars, rods, profiles and wires were imported into South Africa; declining by -43.1% on the previous year's figure. Over the period under review, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2021 when imports increased by 143%. As a result, imports attained the peak of 162 tons, and then shrank significantly in the following year.

In value terms, imports of nickel; bars, rods, profiles and wires rose rapidly to $2.9M in 2022. Overall, imports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 89%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the near future.

Import of Nickel; Bars, Rods, Profiles and Wire in South Africa (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Denmark	500	48.5	248	550	3.2%
Germany	271	338	339	430	16.6%
China	286	186	252	321	3.9%
United States	372	41.7	106	314	-5.5%
India	149	203	485	285	24.1%
Switzerland	139	152	509	232	18.6%
France	137	80.6	68.8	217	16.6%
Italy	106	94.5	186	110	1.2%
Russia	N/A	N/A	92.3	N/A	0%
Others	489	215	290	472	-1.2%
Total	2,449	1,360	2,576	2,929	6.1%

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

Switzerland (19.1 tons)
China (16.8 tons)
Germany (14.0 tons)
Denmark (12.4 tons)
India (9.6 tons)
France (4.5 tons)
United States (3.9 tons)
Italy (2.7 tons)

Exports of Nickel; Bars, Rods, Profiles and Wire in South Africa

In 2022, overseas shipments of nickel; bars, rods, profiles and wires decreased by -0.6% to 5.4 tons, falling for the second consecutive year after two years of growth. In general, exports showed a precipitous slump. The most prominent rate of growth was recorded in 2020 with an increase of 65% against the previous year. As a result, the exports attained the peak of 19 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of nickel; bars, rods, profiles and wires contracted markedly to $54K in 2022. Over the period under review, exports saw a sharp decrease. The smallest decline of -28.9% was in 2021.

Export of Nickel; Bars, Rods, Profiles and Wire in South Africa (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Zambia	0.9	1.1	16.2	16.3	162.6%
Tanzania	N/A	N/A	0.7	13.7	1857.1%
Namibia	1.0	5.1	11.1	7.7	97.5%
Swaziland	1.2	1.0	2.0	5.7	68.1%
Democratic Republic of the Congo	62.6	57.8	12.8	5.4	-55.8%
Mozambique	2.1	3.2	N/A	1.9	-3.3%
India	N/A	N/A	0.5	1.5	200.0%
Zimbabwe	94.6	12.4	34.9	1.2	-76.7%
Egypt	N/A	25.7	N/A	N/A	0%
Lesotho	16.7	0.8	0.4	N/A	-84.5%
Others	3.7	7.1	2.4	0.9	-37.6%
Total	183	114	81.2	54.4	-33.3%