Price for Nickel Oxides and Hydroxides in China - 2023

Contents:

1. Price for Nickel Oxides and Hydroxides in China (FOB) - 2023
2. Price for Nickel Oxides and Hydroxides in China (CIF) - 2023
3. Exports of Nickel Oxides and Hydroxides in China
4. Imports of Nickel Oxides and Hydroxides in China

Price for Nickel Oxides and Hydroxides in China (FOB) - 2023

In June 2023, the average nickel oxides and hydroxides export price amounted to $20,272 per ton, picking up by 3.4% against the previous month. Over the period under review, the export price, however, recorded a noticeable setback. The most prominent rate of growth was recorded in December 2022 an increase of 5.8% against the previous month. Over the period under review, the average export prices reached the maximum at $28,430 per ton in June 2022; however, from July 2022 to June 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In June 2023, the country with the highest price was the United States ($35,890 per ton), while the average price for exports to South Korea stood at $19,813 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 (-1.4%).

Price for Nickel Oxides and Hydroxides in China (CIF) - 2023

The average nickel oxides and hydroxides import price stood at $21,854 per ton in June 2023, jumping by 15% against the previous month. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in July 2022 an increase of 25% against the previous month. Over the period under review, average import prices reached the peak figure at $25,433 per ton in August 2022; however, from September 2022 to June 2023, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Japan.

From June 2022 to June 2023, the rate of growth in terms of prices for Japan amounted to -0.0% per month.

Exports of Nickel Oxides and Hydroxides in China

In 2022, exports of nickel oxides and hydroxideses from China surged to 55K tons, increasing by 62% on 2021. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 167% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, nickel oxides and hydroxides exports soared to $1.3B in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 238%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Top Export Markets for Nickel Oxides and Hydroxides from China in 2022:

1. South Korea (52.3K tons)
2. United States (1.4K tons)

Imports of Nickel Oxides and Hydroxides in China

In 2022, purchases abroad of nickel oxides and hydroxideses decreased by -19.6% to 3.8K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 85%. As a result, imports attained the peak of 4.7K tons, and then reduced rapidly in the following year.

In value terms, nickel oxides and hydroxides imports rose rapidly to $72M in 2022. Over the period under review, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 110%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Nickel Oxides and Hydroxides to China in 2022:

1. Japan (2947.1 tons)
2. Thailand (436.9 tons)
3. Cuba (190.5 tons)
4. Philippines (172.9 tons)

Source: IndexBox Market Intelligence Platform