Key Market Indicators
Japan's nickel imports are projected to rise to approximately $3 billion by 2028, up from around $2.9 billion in 2023, marking an average annual growth of 0.9%. However, this follows a long-term trend of declining demand, which has decreased by 0.2% annually since 1993. On the export front, Japan's nickel shipments are expected to reach nearly $924 million by 2028, an increase from about $860 million in 2023. This represents an average yearly growth of 1.1%. Over the past three decades, Japan's nickel exports have seen a robust annual growth rate of 2.9%. In 2023, Japan ranked ninth globally in nickel exports, with Norway surpassing it with exports valued at $860 million. Canada, Russia, and Malaysia held the second, third, and fourth spots, respectively, in the global ranking.
