Key Market Indicators
Spanish nickel exports are projected to climb to approximately $57 million by 2028, up from about $51 million in 2023, reflecting an average annual growth rate of 1.5%. Since 1994, Spain's nickel supply has increased by an average of 1.1% per year. In 2023, Spain ranked 28th in the world for nickel exports, with the Czech Republic narrowly surpassing it at roughly $51 million. Canada, Russia, and Malaysia occupied the second, third, and fourth positions, respectively. In terms of imports, Spain is expected to see its nickel imports reach nearly $489 million by 2028, rising from approximately $472 million in 2023. This represents a compound annual growth rate of 0.5%. However, Spanish demand for nickel has seen a decline of about 1% per year since 1994.
