Key Market Indicators
Chinese Nickel Export is projected to drop significantly in the coming years, declining from approximately $308 million in 2023 to about $168 million by 2028. This represents an average annual decrease of 9.6%. The downward trend has been noticeable since 1997, with an annual decline rate of 7.5%. In 2023, China ranked 20th in nickel exports, with Italy surpassing it at the same export value of $308 million. Leading the global rankings were Canada, Russia, and Malaysia, occupying the second, third, and fourth positions, respectively. In contrast, Chinese Nickel Import is expected to rise modestly, increasing from around $5.87 billion in 2023 to approximately $6.44 billion by 2028. This marks an average annual growth rate of 1.4%. Since 1997, Chinese demand for nickel has shown a steady increase, averaging 1.3% growth each year.
