Price for Nickel; Unwrought, Not Alloyed in the United States - 2023
Contents:
- Price for Nickel; Unwrought, Not Alloyed in the United States (CIF) - 2023
- Price for Nickel; Unwrought, Not Alloyed in the United States (FOB) - 2023
- Imports of Nickel; Unwrought, Not Alloyed in the United States
- Exports of Nickel; Unwrought, Not Alloyed in the United States
Price for Nickel; Unwrought, Not Alloyed in the United States (CIF) - 2023
In August 2023, the average nickel; unwrought, not alloyed import price amounted to $21,990 per ton, with a decrease of -1.8% against the previous month. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 an increase of 9.4% m-o-m. Over the period under review, average import prices reached the maximum at $28,557 per ton in February 2023; however, from March 2023 to August 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In August 2023, the highest price was recorded for prices from Canada ($22,657 per ton) and France ($21,912 per ton), while the price for South Africa ($21,149 per ton) and Norway ($21,207 per ton) were amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Russia (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Nickel; Unwrought, Not Alloyed in the United States (FOB) - 2023
The average nickel; unwrought, not alloyed export price stood at $21,598 per ton in August 2023, jumping by 29% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $24,618 per ton in April 2023; however, from May 2023 to August 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($23,467 per ton), while the average price for exports to Canada ($9,992 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.2%), while the prices for the other major destinations experienced a decline.
Imports of Nickel; Unwrought, Not Alloyed in the United States
In 2022, purchases abroad of nickel; unwrought, not alloyeds was finally on the rise to reach 93K tons after two years of decline. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, nickel; unwrought, not alloyed imports skyrocketed to $2.3B in 2022. In general, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Nickel; Unwrought, Not Alloyed in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 720 | 760 | 778 | 1,033 | 12.8% |
| Norway | 115 | 124 | 186 | 335 | 42.8% |
| Russia | 151 | 79.0 | 83.9 | 264 | 20.5% |
| Australia | 39.7 | 65.1 | 129 | 256 | 86.1% |
| Finland | 166 | 101 | 43.7 | 209 | 8.0% |
| South Africa | 34.4 | 26.2 | 137 | 156 | 65.5% |
| Madagascar | 11.3 | N/A | N/A | 39.3 | 51.5% |
| Japan | 40.9 | 19.8 | 12.1 | 16.6 | -26.0% |
| Others | 6.6 | 10.6 | 18.7 | 28.7 | 63.2% |
| Total | 1,285 | 1,187 | 1,389 | 2,337 | 22.1% |
Top Suppliers of Nickel; Unwrought, Not Alloyed to the United States in 2022:
- Canada (41.2K tons)
- Norway (13.2K tons)
- Russia (10.1K tons)
- Australia (10.0K tons)
- Finland (8.3K tons)
- South Africa (6.7K tons)
- Madagascar (1.4K tons)
- Japan (0.6K tons)
Exports of Nickel; Unwrought, Not Alloyed in the United States
In 2022, nickel; unwrought, not alloyed exports from the United States expanded sharply to 3.2K tons, surging by 5.4% on 2021. The total export volume increased at an average annual rate of +3.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 18%. The exports peaked in 2022 and are likely to continue growth in years to come.
In value terms, nickel; unwrought, not alloyed exports surged to $68M in 2022. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +15.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 44% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Nickel; Unwrought, Not Alloyed in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 28.0 | 26.4 | 39.3 | 46.8 | 18.7% |
| Canada | 6.7 | 5.9 | 7.4 | 11.8 | 20.8% |
| China | 0.8 | 1.5 | 1.0 | 5.7 | 92.4% |
| Singapore | N/A | N/A | N/A | 2.4 | 0% |
| Turkey | 2.6 | 0.5 | 0.1 | 0.1 | -66.2% |
| Others | 5.6 | 3.7 | 6.8 | 1.1 | -41.9% |
| Total | 43.7 | 38.0 | 54.6 | 68.0 | 15.9% |
Top Export Markets for Nickel; Unwrought, Not Alloyed from the United States in 2022:
- Mexico (1777.0 tons)
- Canada (1060.8 tons)
- China (258.6 tons)
- Singapore (101.2 tons)
- Turkey (1.6 tons)
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This report provides an in-depth analysis of the nickel market in the U.S..
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This report provides an in-depth analysis of the global nickel market.
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This report provides an in-depth analysis of the nickel market in the U.S..
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This report provides an in-depth analysis of the nickel market in the U.S..
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This report provides an in-depth analysis of the global nickel market.
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This report provides an in-depth analysis of the global nickel market.
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In terms of value, Nickel imports in June 2023 decreased to $194 million.
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Discover the top import markets for nickel in the world based on 2023 data. Explore the countries driving demand for nickel across various industries.
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Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
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Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
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Canada continued to dominate in the global unwrought nickel trade. In 2014, Canada exported X thousand tons of unwrought nickel totaling X million USD, X% under the previous year. Its primary trading partner was the U.S., where it supplied X%
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The Russian Federation dominates in the global unwrought nickel trade. In 2014, Russian Federation exported more than X thousand tons of unwrought nickel totaling X billion USD, X% over the previous year. Its primary trading partner was China, wh
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In terms of value, Nickel imports in June 2023 decreased to $194 million.
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Nickel prices skyrocketed on the expectations of a shortage on the global market provoked by the increase in demand that outpaces the supply growth. The rebound in the steel industry and rising electric vehicle manufacturing drive nickel consumption. Pandemic-related lockdowns in the first half of 2020 and the related uncertainty led to a decrease in the global nickel mine output by -4% y-o-y. Despite this, refined nickel production increased by +2% y-o-y, boosted by the recovering demand from mid-2020 and the use of secondary smelting. Indonesia, the largest nickel ore producer worldwide, banned exports of the ore and thus achieved a record output of refined nickel.
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Discover the top import markets for nickel in the world based on 2023 data. Explore the countries driving demand for nickel across various industries.
1221
Global nickel imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. The total import volume increased at an average annual rate of +X% fro...
