Sulphates; of Nickel Price in Indonesia - 2022

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

In March 2022, the average sulphates; of nickel import price amounted to $6,897 per ton, growing by 16% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.9%. The growth pace was the most rapid in June 2021 an increase of 29% against the previous month. The import price peaked in March 2022.

Prices varied noticeably by the country of origin: the country with the highest price was Singapore ($17,390 per ton), while the price for Belgium ($5,612 per ton) was amongst the lowest.

From March 2021 to March 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, the average sulphates; of nickel export price amounted to $7,621 per ton, rising by 7.7% against the previous year. In general, the export price enjoyed a temperate increase. The pace of growth was the most pronounced in 2017 an increase of 110%. The export price peaked at $10,863 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($7,716 per ton), while the average price for exports to Australia stood at $7,621 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+2.3%).

Sulphates; of Nickel Imports in Indonesia

In 2022, the amount of sulphates; of nickels imported into Indonesia shrank to 908 tons, waning by -5.6% on the year before. The total import volume increased at an average annual rate of +5.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 41% against the previous year. As a result, imports reached the peak of 962 tons, and then contracted in the following year.

In value terms, sulphates; of nickel imports amounted to $5.3M in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 68%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Import of Sulphates; of Nickel in Indonesia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	1,547	1,170	2,053	2,273	13.7%
Taiwan (Chinese)	426	544	821	940	30.2%
Thailand	429	303	691	790	22.6%
Belgium	105	223	289	349	49.2%
South Korea	44.0	61.1	220	251	78.7%
Hong Kong SAR	138	58.0	75.6	124	-3.5%
Finland	170	51.3	18.8	116	-12.0%
China	92.0	228	56.0	56.1	-15.2%
Others	116	113	388	400	51.1%
Total	3,067	2,752	4,613	5,298	20.0%

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

Japan (313.7 tons)
Thailand (228.4 tons)
Taiwan (Chinese) (166.4 tons)
Belgium (66.9 tons)
South Korea (36.6 tons)
Hong Kong SAR (23.4 tons)
Finland (23.1 tons)
China (5.7 tons)

Sulphates; of Nickel Exports in Indonesia

In 2022, after two years of decline, there was growth in overseas shipments of sulphates; of nickels, when their volume increased by 2.1% to 338 kg. Overall, exports, however, continue to indicate a slight setback.

In value terms, sulphates; of nickel exports reached $2.6K in 2022. Over the period under review, exports, however, recorded a deep reduction.