The overall value of nickel imports for all importing countries increased by an average 11.8% compared to 5 years earlier in 2020 when nickel purchases were valued at $3.95 billion.
Year over year, worldwide spending on imported nickel fell by -14.8% starting from $5.18 billion for 2023.
Shiny and silvery-white in color with a slight golden tinge, nickel is a hard but pliable metal that can be formed into wires.
Nickel is mainly used to create stainless steel but also nonferrous alloys, electroplating and alloy steel. Consumer products comprised partly of nickel include magnets, coins, rechargeable batteries, electric guitar strings, and plaiting for plumbing fixtures since nickel helps prevent corrosion.
Key Geographic Insights for Nickel Imports
The biggest 5 spenders on imported nickel are mainland China, Indonesia, Canada, Finland and the sub-Saharan African nation Namibia. Altogether, that quintet of major nickel importers is responsible for 91.8% of the world’s total purchases of imported nickel during 2024.
Such a high percentage indicates an intensely concentrated subset of major import customers. In fact, there were just 46 countries that imported nickel in the latest reporting period.
From a continental perspective, Asian countries bought the highest dollar worth of nickel imported from foreign markets with purchases costing a total $3.5 billion or 79.2% of the worldwide total. In second place were nickel importers based in North America at 7.8% with another 7.3% going to importers in Europe.
Smaller percentages were sold to buyers in Africa (5.6%), Latin America (0.13%) excluding Mexico but including the Caribbean, then customers in Australia in Oceania (0.07%).
For research purposes, the 4-digit Harmonized Tariff System code prefix is 2604 for nickel ores and concentrates.
Nickel Imports by Country
Below are the 15 countries that imported the highest dollar value worth of nickel during 2024.
- mainland China: US$2.7 billion (61.3% of total nickel imports)
- Indonesia: $460.2 million (10.4%)
- Canada: $342.3 million (7.7%)
- Finland: $305.3 million (6.9%)
- Namibia: $240.4 million (5.4%)
- South Korea: $209.2 million (4.7%)
- Taiwan: $52.5 million (1.2%)
- Japan: $38.7 million (0.9%)
- Malaysia: $26.3 million (0.6%)
- Belgium: $6.3 million (0.1%)
- Spain: $5.1 million (0.1%)
- Morocco: $4.6 million (0.1%)
- Germany: $3.6 million (0.1%)
- Australia: $3.3 million (0.07%)
- Colombia: $3.1 million (0.07%)
By value, the listed 15 countries purchased 99.8% of all nickel imported in 2024.
Among the above countries, the fastest-growing markets for nickel from 2023 to 2024 were: Malaysia (up 375,471%), Colombia (up 61,980%), Indonesia (up 2,766%) and Namibia (up 418.9%).
Major buyers that posted declines in their imported nickel purchases were led by: Japan (down -64% from 2023), Canada (down -59.3%), Germany (down -53.7%) and South Korea (down -35.6%).
Nickel Imported into China
Below are the top suppliers from which mainland China imported the highest dollar value worth of nickel during 2024. Within parenthesis is the percentage change in value for each supplying country.
- Philippines: US$1.6 billion (down -22.3% from 2023)
- Russia: $333.3 million (down -13.8%)
- Australia: $172 million (down -32.9%)
- Ivory Coast: $129.7 million (down -40.6%)
- New Caledonia: $109 million (down -65.4%)
- Zambia: $104.7 million (up 181.7%)
- Brazil: $89.8 million (up 2.1%)
- Vietnam: $69.3 million (up 79%)
- Solomon Islands: $38.4 million (up 613.1%)
- Guatemala: $35 million (down -56.7%)
- Tanzania: $12.4 million (down -29.1%)
- Zimbabwe: $1.7 million (2023 data unavailable)
- Canada: $477,000 (down -84.4%)
- South Africa: $39,000 (2023 data unavailable)
- Papua New Guinea: $3,000 (down -75%)
By value, the listed 15 countries shipped 99.9999% of nickel imported by mainland China in 2024.
Among the above countries, the fastest-growing suppliers of nickel to China from 2022 to 2023 were: Solomon Islands (up 613.1%), Zambia (up 181.7%), Vietnam (up 79%) and Brazil (up 2.1%).
Countries that experienced declines in the value of their nickel supplied to Chinese importers included: Canada (down -84.4% from 2023), Papua New Guinea (down -75%), New Caledonia (down -65.4%) and Guatemala (down -56.7%).
Overall, the value of China’s imported nickel retreated by an average -23.4% from all supplying countries since 2023 when nickel purchased cost $3.5 billion.
Nickel Imported into Indonesia
Below are the top suppliers from which Indonesia imported the highest dollar value worth of nickel during 2024. Within parenthesis is the percentage change in value for each supplying country.
- Philippines: US$445.1 million (up 2,682% from 2023)
- mainland China: $11.5 million (up 2,4850%)
- Taiwan: $3.3 million (up 163,000%)
- Singapore: $347,000 (2023 data unavailable)
- United States: $38,000 (2023 data unavailable)
- Australia: $15,000 (up 114.3%)
- Brazil: $2,000 (up 100%)
By value, the listed countries shipped 100% of nickel imported by Indonesia in 2024.
Among the above countries, the fastest-growing suppliers of nickel to Indonesia from 2023 to 2024 were: Taiwan (up 163,000%), mainland China (up 24,850%), Philippines (up 2,682%) and Australia (up 114.3%).
Overall, the value of Indonesia’s imported nickel spiked by an average 2,766% from all supplying countries since 2023 when nickel purchased cost $16.1 million.
Nickel Imported into Canada
Below are the top suppliers from which Canada imported the highest dollar value worth of nickel during 2024. Within parenthesis is the percentage change in value for each supplying country.
- United States: US$121.4 million (down -66.4% from 2023)
- Finland: $85 million (down -36.9%)
- Zambia: $71.1 million (up 252.1%)
- Brazil: $36.7 million (down -41.2%)
- Switzerland: $28.1 million (down -53.6%)
- Botswana: $15,000 (2023 data unavailable)
By value, the listed countries shipped 100% of nickel imported by Canada in 2024.
Among the above countries, the sole growth supplier of nickel to Canada from 2023 to 2024 was Zambia (up 252.1%).
Overall, the value of Canada’s imported nickel slowed by an average -59.3% from all supplying countries since 2023 when nickel purchased cost $841.5 million.
Nickel Imported into Finland
Below are the top suppliers from which Finland imported the highest dollar value worth of nickel during 2024. Within parenthesis is the percentage change in value for each supplying country.
- Canada: US$110.3 million (up 137.9% from 2023)
- Brazil: $74.8 million (down -49.7%)
- Zambia: $61.4 million (2023 data unavailable)
- South Africa: $57 million (up 66.1%)
- Norway: $1.2 million (down -23.1%)
- India: $443,000 (2023 data unavailable)
- Australia: $117,000 (down -98.9%)
By value, the listed countries shipped 100% of nickel imported by Finland in 2024.
Among the above countries, the growth suppliers of nickel to Finland from 2023 to 2024 were Canada (up 137.9%) and South Africa (up 66.1%).
Overall, the value of Finland’s imported nickel accelerated by an average 26.4% from all supplying countries since 2023 when nickel purchased cost $241.6 million.
Top Nickel Importers Ranked by Shipment Weight
Worldwide imports of nickel totaled 52.3 million tons in 2024, up by 9.4% from 47.8 million tons in 2020.
The shipment weight of globally imported nickel expanded by 4.9% from 49.9 million tons during 2023.
- mainland China: 38,092,033 tons (down -14.7% from 2023)
- Indonesia: 10,473,638 tons (up 2,697%)
- South Korea: 2,692,845 tons (down -11.3%)
- Japan: 589,200 tons (down -47.5%)
- Finland: 184,452 tons (up 50.7%)
- Namibia: 138,753 tons (up 386.8%)
- Colombia: 59,587 tons (up 5,958,600%)
- Canada: 48,389 tons (down -54.1%)
- Taiwan: 31,269 tons (2023 data unavailable)
- Malaysia: 16,287 tons (up 81,335%)
- Belgium: 3,362 tons (down -5.3%)
- Australia: 2,658 tons (down -2.1%)
- South Africa: 1,546 tons (up 45.2%)
- Cambodia: 1,282 tons (2023 data unavailable)
- Morocco: 1,206 tons (2023 data unavailable)
By shipment weight for nickel, the strongest percentage gainers from 2023 to 2024 were importers located in Colombia (up 5,958,600%), Malaysia (up 81,335%), Indonesia (up 2,697%), Namibia (up 386.8%) then Finland (up 50.7%).
Double-digit percentage decliners year over year included buyers in Canada (down -54.1% from 2023), Japan (down -47.5%), mainland China (down -14.7%) and South Korea (down -11.3%).
Average Prices for Nickel by Major Import Country
In 2024, the world’s overall average unit price paid for imported nickel was US$84 per ton.
That average price per ton inflated by 1.2% compared to the average $83 per ton in 2020. On an annual basis, the average price declined by -24.3% versus the $104 per ton for globally imported nickel during 2023.
Listed below are the average unit prices paid by the 15 top importers nickel ranked by tonnage of nickel bought in 2024.
- mainland China: US$71 per ton (down -10.1% from 2023)
- Indonesia: $44 per ton (up 2.3%)
- South Korea: $78 per ton (down -27.1%)
- Japan: $66 per ton (down -31.3%)
- Finland: $1,655 per ton (down -16.2%)
- Namibia: $1,733 per ton (up 6.6%)
- Colombia: $52 per ton (down -99%)
- Canada: $7,074 per ton (down -11.3%)
- Taiwan: $1,679 per ton (2023 data unavailable)
- Malaysia: $1,614 per ton (up 361.1%)
- Belgium: $1,867 per ton (up 5.2%)
- Australia: $1,239 per ton (down -27.5%)
- South Africa: $1,257 per ton (down -29.9%)
- Cambodia: $400 per ton (2023 data unavailable)
- Morocco: $3,774 per ton (2023 data unavailable)
The lowest average unit prices per ton were paid by importers in Indonesia, Colombia, Japan and mainland China.
Highest average prices were paid by nickel importers in Canada, Morocco, Belgium, Namibia and Taiwan.
See also Top Nickel Exporters by Country, Top Tin Exporters, Copper Ore Exports by Country and China’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Imports – Commodities. Accessed on November 10, 2025
International Trade Centre, Trade Map. Accessed on November 10, 2025
Wikipedia, Nickel. Accessed on November 10, 2025