Price for Nickel; Wire, Not Alloyed in Canada - 2023

Price for Nickel; Wire, Not Alloyed in Canada (CIF) - 2022

In 2022, the average nickel; wire, not alloyed import price amounted to $34,283 per ton, growing by 22% against the previous year. In general, the import price, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2018 an increase of 41%. Over the period under review, average import prices reached the maximum at $42,106 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($49,344 per ton), while the price for Germany ($30,480 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Nickel; Wire, Not Alloyed in Canada (FOB) - 2023

The average nickel; wire, not alloyed export price stood at $56,756 per ton in June 2023, picking up by 17% against the previous month. Over the period under review, the export price, however, recorded a slight reduction. The growth pace was the most rapid in December 2022 an increase of 48% month-to-month. The export price peaked at $68,989 per ton in February 2023; however, from March 2023 to June 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($72,604 per ton), while the average price for exports to Malaysia stood at $29,031 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.8%).

Imports of Nickel; Wire, Not Alloyed in Canada

Nickel; wire, not alloyed imports into Canada contracted to 45 tons in 2022, which is down by -13.8% against 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 41%. As a result, imports attained the peak of 53 tons, and then declined in the following year.

In value terms, nickel; wire, not alloyed imports rose significantly to $1.6M in 2022. Overall, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +10.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 50%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Import of Nickel; Wire, Not Alloyed in Canada (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	307	440	997	968	46.6%
United States	484	218	121	286	-16.1%
France	40.4	52.7	175	170	61.4%
Austria	269	233	38.1	80.2	-33.2%
Bahrain	N/A	N/A	141	N/A	0%
Others	69.0	44.6	10.0	52.2	-8.9%
Total	1,169	988	1,482	1,556	10.0%

Top Suppliers of Nickel; Wire, Not Alloyed to Canada in 2022:

Germany (31.8 tons)
United States (5.8 tons)
France (4.8 tons)
Austria (1.9 tons)

Exports of Nickel; Wire, Not Alloyed in Canada

In 2022, shipments abroad of nickel; wire, not alloyeds was finally on the rise to reach 33 tons after two years of decline. Over the period under review, exports, however, continue to indicate a perceptible decrease.

In value terms, nickel; wire, not alloyed exports surged to $1.7M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +5.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.