Key Market Indicators
Australia's nickel import market is projected to decline significantly over the next five years. By 2028, imports are expected to drop to approximately $42 million, down from around $55 million in 2023. This marks a yearly decrease of 4.3%. The trend is not new. Since 1993, Australian demand for nickel has been on a steady decline, falling by an average of 4.8% each year. On the export front, the numbers tell a different story. In 2018, Australia's nickel exports surged to nearly $109 million, a stark rise from about $58 million in 2017, translating to an 88% increase year-on-year. However, despite this dramatic one-year spike, the long-term trend has been less favorable. Since 1993, Australia's nickel supply has decreased by an average of 32.3% annually.
