The overall value of nickel imports for all importing countries expanded by an average 93.4% since 2017 when nickel purchases were valued at $2.98 billion.
The value of globally imported nickel accelerated by 45.8% from $3.94 billion for 2020.
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, Canada, South Korea, Japan and Finland. Altogether, that quintet of major nickel importers is responsible for 93.4% of the world’s total purchases of imported nickel during 2021.
Such a high percentage indicates an intensely subset of major import customers. In fact, there were just a total 73 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 $5 billion or 87.6% of the worldwide total. In second place were nickel importers in North America at 6.4% with another 5.8% going to importers in Europe.
Tinier percentages were sold to buyers in Latin America (0.1%) excluding Mexico but including the Caribbean, then Australia and New Zealand only in Oceania (0.03%), and Africa (also 0.03%).
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 2021.
- China: US$4.4 billion (76.8% of total imported nickel)
- Canada: $370 million (6.4%)
- South Korea: $340.7 million (5.9%)
- Japan: $279.7 million (4.9%)
- Finland: $230.2 million (4%)
- Ukraine: $57.4 million (1%)
- Cyprus: $23.7 million (0.4%)
- United Kingdom: $14.5 million (0.3%)
- Dominican Republic: $5.6 million (0.1%)
- Germany: $4.4 million (0.1%)
- Belgium: $2.9 million (0.1%)
- Australia: $1.84 million (0.03%)
- South Africa: $1.83 million (0.03%)
- Hungary: $1.3 million (0.02%)
- Iran: $764,000 (0.01%)
By value, the listed 15 countries purchased 99.9% of all nickel imported in 2021.
Among the above countries, the fastest-growing markets for nickel from 2020 to 2021 were: United Kingdom (up 207,286%), South Africa (up 347.8%), Belgium (up 325.3%) and Australia (up 198.5%).
A trio of major nickel buyers posted declines in their imported nickel purchases namely Germany (down -43.4%), Hungary (down -29.5%) and Ukraine (down -24.3%).
Nickel Imported into China
Below are the top suppliers from which China imported the highest dollar value worth of nickel during 2021. Within parenthesis is the percentage change in value for each supplying country.
- Philippines: US$3 billion (up 71.6% from 2020)
- Russia: $317.1 million (up 238.2%)
- New Caledonia: $305 million (up 22.1%)
- Australia: $219.5 million (down -18.1%)
- Brazil: $184.4 million (up 139%)
- Zimbabwe: $77.6 million (up 129.6%)
- Guatemala: $74.3 million (up 256.8%)
- South Africa: $62.8 million (down -62.9%)
- Indonesia: $48.1 million (down -75.1%)
- Finland: $41.2 million (up 143.6%)
- Zambia: $40.7 million (up 115.2%)
- Turkey: $36.1 million (up 34.2%)
- Ivory Coast: $6.2 million (down -10.9%)
- Tanzania: $605,000 (up 60,400%)
- Kazakhstan: $418,000 (down -51.5%)
By value, the listed 15 countries shipped 99.9997% of nickel imported by China in 2021.
Among the above countries, the fastest-growing suppliers of nickel to China from 2020 to 2021 were: Tanzania (up 60,400%), Guatemala (up 256.8%), Russia (up 238.2%) and Finland (up 143.6%).
Countries that experienced declines in the value of their nickel supplied to Chinese importers included: Indonesia (down -75.1%), South Africa (down -62.9%), Kazakhstan (down -51.5%) and Australia (down -18.1%).
Overall, the value of China’s imported nickel rose by an average 51% from all supplying countries since 2020 when nickel purchased cost $2.9 billion.
Nickel Imported into Canada
Below are the top suppliers from which Canada imported the highest dollar value worth of nickel during 2021. Within parenthesis is the percentage change in value for each supplying country.
- United States: US$245.4 million (up 21.9% from 2020)
- Switzerland: $110.6 million (up 560.3%)
- Russia: $13.8 million (2020 data unavailable)
- South Africa: $104,000 (2020 data unavailable)
- Australia: $4,000 (2020 data unavailable)
- Italy: $2,000 (2020 data unavailable)
By value, the listed countries shipped 100% of nickel imported by Canada in 2021.
Among the above countries, the fastest-growing supplier of nickel to Canada from 2020 to 2021 was Switzerland via a 560.3% gain.
Overall, the value of Canada’s imported nickel rose by an average 52.4% from all supplying countries since 2020 when nickel purchased cost $201.4 million.
Nickel Imported into South Korea
Below are the top suppliers from which South Korea imported the highest dollar value worth of nickel during 2021. Within parenthesis is the percentage change in value for each supplying country.
- New Caledonia: US$330.1 million (up 62.2% from 2020)
- Philippines: $10.6 million (2020 data unavailable)
- Netherlands: $5,000 (2020 data unavailable)
By value, the listed countries shipped 100% of nickel imported by South Korea in 2021.
Overall, the value of South Korea’s imported nickel increased by an average 67.3% from all supplying countries since 2020 when nickel purchased cost $194.8 million.
Nickel Imported into Japan
Below are the top suppliers from which Japan imported the highest dollar value worth of nickel during 2021. Within parenthesis is the percentage change in value for each supplying country.
- New Caledonia: US$162.6 million (up 22.5% from 2020)
- Philippines: $117.1 million (up 205.8%)
By value, the listed countries shipped 100% of nickel imported by Japan in 2021.
Among the above countries, the fastest-growing supplier of nickel to Japan from 2020 to 2021 was the Philippines propelled by a 205.8% gain year over year.
Overall, the value of Japan’s imported nickel grew by an average 63.5% from all supplying countries since 2020 when nickel purchased cost $189.3 million.
Top Nickel Importers Ranked by Shipment Weight
Worldwide imports of nickel totaled 51.43 million tons in 2021, up by 15.6% over the 5-year period starting in 2017.
The shipment weight of globally imported nickel grew by 7% from 48 million tons during 2020.
- China: 43,525,715 tons of imported nickel (up 10.9% from 2020)
- South Korea: 3,181,534 tons (up 8.5%)
- Japan: 3,091,947 tons (up 22.7%)
- Ukraine: 1,209,467 tons (down -22.3%)
- Cyprus: 272,491 tons (2020 data unavailable)
- Dominican Republic: 74,227 tons (2020 data unavailable)
- Canada: 40,827 tons (up 121.8%)
- United Kingdom: 26,309 tons (2020 data unavailable)
- Germany: 1,995 tons (down -58.1%)
- Belgium: 1,759 tons (up 191.2%)
- South Africa: 1,374 tons (up 208.8%)
- Australia: 641 tons (up 815.7%)
- Brazil: 454 tons (up 170.2%)
- Singapore: 441 tons (up 13.4%)
- India: 106 tons (up 186.5%)
By shipment weight for nickel, the triple-digit percentage gainers from 2020 to 2021 were Australia (up 815.7%), South Africa (up 208.8%), Belgium (up 191.2%), India (up 186.5%), Brazil (up 170.2%) then Canada (up 121.8%).
There was a pair of decliners year over year, specifically Germany (down -58.1% from 2020) and Ukraine (down -22.3%).
Average Prices for Nickel by Major Import Country
In 2021, the world’s overall average unit price paid for imported nickel was US$112 per ton.
That average price per ton inflated by 67.1% compared to the average $67 per ton in 2017. On an annual basis, the increase in average price was 36.2% versus the $82 per ton for globally imported nickel during 2020.
Listed below are the average unit prices paid by the 15 top importers nickel ranked by volume of nickel bought in 2021.
- China: US$102 per ton of nickel imports (up 36% from 2020)
- South Korea: $107 per ton (up 55.1%)
- Japan: $90 per ton (up 32.4%)
- Ukraine: $47 per ton (down -4.1%)
- Cyprus: $87 per ton (up 0.2%)
- Dominican Republic: $76 per ton (2020 data unavailable)
- Canada: $9,062 per ton (down -31.3%)
- United Kingdom: $552 per ton (2020 data unavailable)
- Germany: $2,203 per ton (up 35.2%)
- Belgium: $1,642 per ton (up 46.1%)
- South Africa: $1,330 per ton (up 45%)
- Australia: $2,864 per ton (down -67.4%)
- Brazil: $1,586 per ton (up 601.8%)
- Singapore: $673 per ton (down -0.9%)
- India: $2,066 per ton (down -12.1%)
The lowest average unit prices per ton were paid by importers in the Dominican Republic, Cyprus, Japan and the world’s leading importer of nickel, mainland China.
Highest average prices were paid by nickel importers in Canada, Australia, Germany and India.
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 December 1, 2022
International Trade Centre, Trade Map. Accessed on December 1, 2022
Wikipedia, Nickel. Accessed on December 1, 2022
