Global Nickel Market Overview
In value terms, nickel production reduced modestly to $ in estimated in export prices. In general, production, however, showed a slight curtailment. The pace of growth was the most pronounced in 2010 with an increase of % y-o-y. Global production peaked at $ in 2011; however, from 2012 to , production stood at a somewhat lower figure.
The countries with the highest volumes of nickel production in were China ( tonnes), Indonesia ( tonnes) and Russia ( tonnes), together accounting for % of global production.
From 2007 to , the biggest increases were in Indonesia, while nickel production for the other global leaders experienced more modest paces of growth.
The global nickel market revenue fell to $ in , shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the market value increased by % y-o-y. Over the period under review, the global market reached the maximum level at $ in 2019, and then reduced in the following year.
From 2007 to , the biggest increases were in Indonesia, while nickel consumption for the other global leaders experienced more modest paces of growth.
In value terms, China ($) led the market, alone. The second position in the ranking was occupied by Indonesia ($). It was followed by Japan.
In China, the nickel market increased at an average annual rate of +% over the period from 2007-. In the other countries, the average annual rates were as follows: Indonesia (+% per year) and Japan (-% per year).
In , the highest levels of nickel per capita consumption was registered in New Caledonia ( kg per person), followed by Finland ( kg per person), Indonesia ( kg per person) and Japan ( kg per person), while the world average per capita consumption of nickel was estimated at kg per person.
In New Caledonia, nickel per capita consumption expanded at an average annual rate of +% over the period from 2007-. In the other countries, the average annual rates were as follows: Finland (+% per year) and Indonesia (+% per year).