Key Market Indicators
South African Nickel Exports are projected to reach approximately $406 million by 2028, up from around $386 million in 2023. This marks an average annual growth rate of 0.8%. However, since 2005, the country's nickel supply has declined by an average of 0.1% each year. In 2023, South Africa ranked 18th in global nickel exports. Singapore led the way with exports valued at $386 million. Canada, Russia, and Malaysia secured the second, third, and fourth spots, respectively. On the import front, South African Nickel imports plummeted to roughly $19 million in 2018, a sharp decline from around $53 million in 2017, representing a 64.2% decrease year-over-year. Since 2005, demand for nickel in South Africa has been on a downward trend, decreasing by an average of 16.1% annually.
