China - Unwrought Nickel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingChina Sees 25% Drop in Nickel Imports to $205 Million in February 2023
China Nickel Imports
In February 2023, supplies from abroad of nickel (unwrought) decreased by -27.1% to 7.2K tons, falling for the third month in a row after two months of growth. Over the period under review, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in August 2022 with an increase of 51% month-to-month.
In value terms, nickel imports fell notably to $205M (IndexBox estimates) in February 2023. In general, imports saw a noticeable slump. The pace of growth appeared the most rapid in March 2022 with an increase of 61% month-to-month. As a result, imports reached the peak of $562M. From April 2022 to February 2023, the growth of imports remained at a somewhat lower figure.
| COUNTRY | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Import Value Nickel in China (million USD) | |||||||||||||
| Australia | 165.0 | 291.0 | 166.0 | 68.3 | 72.0 | 89.2 | 44.9 | 56.9 | 58.3 | 42.0 | 36.3 | 69.8 | 60.5 |
| Russia | 36.2 | 98.7 | 1.4 | 11.6 | 71.8 | 2.3 | 119.0 | 73.5 | 120.0 | 137.0 | 206.0 | 79.8 | 53.7 |
| Norway | 33.7 | 33.5 | 12.9 | 58.6 | 22.7 | 29.7 | 30.8 | 11.3 | 19.9 | 24.3 | 34.6 | 13.2 | 32.6 |
| Canada | 22.3 | 30.2 | 31.2 | 20.9 | 12.7 | 1.1 | 19.5 | 17.7 | 34.2 | 45.5 | 41.1 | 41.6 | 24.5 |
| Japan | 8.2 | 17.7 | 6.2 | 3.4 | 2.9 | 10.4 | 10.3 | 9.0 | 5.7 | 9.4 | 7.2 | 13.6 | 15.0 |
| United Kingdom | 10.9 | 5.6 | 6.2 | 13.7 | 12.0 | 11.8 | 11.6 | 14.1 | 13.7 | 13.3 | 12.8 | 7.6 | 14.5 |
| Madagascar | 51.6 | 33.0 | 32.2 | 28.9 | 63.4 | 30.1 | 13.6 | 17.3 | 11.2 | 39.4 | 28.8 | 10.8 | 0.2 |
| South Africa | 12.7 | 42.1 | 36.1 | N/A | 13.5 | 28.0 | 25.2 | 18.6 | 5.0 | 5.2 | N/A | 19.7 | N/A |
| Others | 1069.0 | 1456.0 | 1299.0 | 1598.0 | 1395.0 | 1275.0 | 1099.0 | 1148.0 | 1262.0 | 1244.0 | 1106.0 | 821.0 | 351.0 |
| Total | 1409.0 | 2007.0 | 1591.0 | 1803.0 | 1666.0 | 1477.0 | 1374.0 | 1366.0 | 1530.0 | 1561.0 | 1472.0 | 1077.0 | 552.0 |
Imports by Country
Australia (2.1K tons), Russia (1.8K tons) and Norway (1.1K tons) were the main suppliers of nickel imports to China, with a combined 69% share of total imports. Canada, Japan, the UK and Madagascar lagged somewhat behind, together accounting for a further 29%.
From February 2022 to February 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +4.0%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Australia ($61M), Russia ($54M) and Norway ($33M) were the largest nickel suppliers to China, together accounting for 72% of total imports. These countries were followed by Canada, Japan, the UK and Madagascar, which together accounted for a further 26%.
In terms of the main suppliers, Japan, with a CAGR of +5.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In February 2023, the nickel price stood at $28,259 per ton (CIF, China), with an increase of 2.4% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.7%. The most prominent rate of growth was recorded in March 2022 when the average import price increased by 28% month-to-month. Over the period under review, average import prices reached the maximum at $30,367 per ton in May 2022; however, from June 2022 to February 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the UK ($31,519 per ton), while the price for Japan ($19,595 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Canada (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the nickel market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24451100 - Nickel, unwrought
- Prodcom 24451110 -
- Prodcom 24451120 -
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
