Hong Kong SAR, China: Nickel Market 2022

Nickel Market Size in Hong Kong SAR, China

The Hong Kong nickel market reached $X in 2021, increasing by X% against the previous year. Overall, consumption, however, showed a pronounced contraction. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Nickel Production in Hong Kong SAR, China

In value terms, nickel production totaled $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Nickel production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Nickel Exports

Exports from Hong Kong SAR, China

Nickel exports from Hong Kong SAR dropped to X tons in 2021, declining by -X% on 2020. Overall, exports faced a dramatic curtailment. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, nickel exports totaled $X in 2021. Over the period under review, exports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for nickel exports from Hong Kong SAR, with a X% share of total exports. Moreover, nickel exports to China exceeded the volume sent to the second major destination, Indonesia (X tons), sixfold. Australia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-X% per year) and Australia (-X% per year).

In value terms, China ($X) remains the key foreign market for nickel exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was occupied by Indonesia ($X), with an X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-X% per year) and Australia (-X% per year).

Export Prices by Country

In 2021, the average nickel export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nickel export price increased by +X% against 2016 indices. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat for the major foreign markets. In 2021, the highest price was recorded for prices to India ($X per ton) and Australia ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Nickel Imports

Imports into Hong Kong SAR, China

After five years of decline, overseas purchases of nickel increased by X% to X tons in 2021. Overall, imports, however, faced a dramatic shrinkage. The growth pace was the most rapid in 2015 with an increase of X%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth imports remained at a lower figure.

In value terms, nickel imports surged to $X in 2021. In general, imports, however, recorded a dramatic setback. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth imports remained at a lower figure.

Imports by Country

China (X tons), Norway (X tons) and Finland (X tons) were the main suppliers of nickel imports to Hong Kong SAR, with a combined X% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of -X%), while imports for the other leaders experienced a decline.

In value terms, China ($X), Norway ($X) and Finland ($X) constituted the largest nickel suppliers to Hong Kong SAR, with a combined X% share of total imports.

In terms of the main suppliers, Norway, with a CAGR of -X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average nickel import price stood at $X per ton in 2021, increasing by X% against the previous year. Overall, the import price recorded a mild expansion. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Canada ($X per ton) and Japan ($X per ton), while the price for Finland ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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