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Import News
18-04-2025
In 2023, global nickel imports reached a value of $5.2 billion.
Over the past five years, the cumulative value of imported nickel grew by an average of 4.8%, increasing from $4.96 billion in 2019. However, on a year-over-year basis, global expenditures on nickel imports dropped 15.5%, down from $6.15 billion in 2022.
Nickel, recognized for its shiny silver-white appearance with a slight golden hue, is a durable yet flexible metal often drawn into wire.
Its primary application lies in stainless steel production, though it’s also used in nonferrous alloys, electroplating, and alloy steels. Everyday products containing nickel include magnets, coins, rechargeable batteries, electric guitar strings, and plumbing fixtures, thanks to its anti-corrosion properties.
Regional Overview of Nickel Importation
In 2023, the top five nickel-importing nations—China, Canada, South Korea, Finland, and Japan—accounted for 97.4% of global nickel import value, highlighting a strong concentration among a small group of buyers. In total, just 42 countries reported nickel imports during that period.
By region, Asia was the dominant importer, purchasing $4 billion worth of nickel—76.6% of the global total. North America followed with 16.2%, and Europe came next at 5.9%. Smaller shares were directed to Africa (0.9%), Latin America (0.3%) (excluding Mexico but including the Caribbean), and Oceania (0.1%).
For classification purposes, nickel ores and concentrates fall under the Harmonized Tariff System code 2604.
Top 15 Nickel-Importing Countries in 2023
1.Mainland China – $3.5 billion (68% of total)
2.Canada – $841.5 million (16.2%)
3.South Korea – $324.9 million (6.2%)
4.Finland – $258.3 million (5%)
5.Japan – $107.4 million (2.1%)
6.Namibia – $45.9 million (0.9%)
7.North Macedonia – $23.9 million (0.5%)
8.Indonesia – $16.1 million (0.3%)
9.Dominican Republic – $11.5 million (0.2%)
10.Germany – $7.8 million (0.1%)
11.Belgium – $6.3 million (0.1%)
12.Cyprus – $6.27 million (0.1%)
13.Australia – $4.6 million (0.1%)
14.Spain – $2.7 million (0.05%)
15.South Africa – $1.9 million (0.04%)
Together, these 15 countries were responsible for 99.8% of the total nickel import value in 2023.
Among them, the fastest-growing import markets from 2022 to 2023 were:
·Spain: +33,538%
·Indonesia: +592.7%
·Dominican Republic: +196.9%
·Germany: +93.7%
Conversely, notable declines were seen in:
·Japan: -62.4%
·North Macedonia: -59%
·Cyprus: -43.2%
·Australia: -28.7%
Top Nickel Importing Companies
1.JINDAL STAINLESS LIMITED – $261.8 million (3.55%)
2.PT HLI GREEN POWER – $260.68 million (3.53%)
3.FRISA FORJADOS SA DE CV – $230.15 million (3.12%)
4.TRAFIGURA INDIA PVT LTD – $211.76 million (2.87%)
5.RTSB GMBH / LG ENERGY SOLUTION WROCLAW SP. Z O.O. – $156.94 million (2.13%)
6.BAHNOPERATOR POLSKA for Samsung SDI Hungary Ltd. – $140.75 million (1.91%)
7.KOTHARI METALS LTD – $129.07 million (1.75%)
8.HANWHA AERO ENGINES CO., LTD. – $126.72 million (1.72%)
9.RTSB GMBH / LG ENERGY SOLUTION WROCLAW SP. Z.O.O. – $126.38 million (1.71%)
10.HINDUSTAN AERONAUTICS LTD – $121.46 million (1.65%)
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