Key Market Indicators
Korean Nickel Import is projected to decline to approximately $869 million by 2028, down from around $900 million in 2023. This represents a yearly decrease of 0.6% on average. The country's demand for nickel has been on a gradual decline, falling by 2.2% annually since 1993. On the export front, South Korea's nickel exports are also expected to drop, reaching about $123 million by 2028, from roughly $134 million in 2023. This marks an average yearly decrease of 1.5%. Since 1993, Korean nickel supply has diminished by 1.1% per year. In 2023, South Korea ranked 25th in global nickel exports. Mexico outperformed South Korea with exports valued at $134 million. Canada, Russia, and Malaysia claimed the second, third, and fourth spots, respectively.
