Key Market Indicators
**Russian Nickel Export Forecast to Fall by 2028** **Moscow, Russia** — Russian nickel exports are projected to decline significantly, reaching approximately $1.4 billion by 2028, down from nearly $1.9 billion in 2023. This represents an annual decrease of 5.2% on average, according to industry data. Since 2001, Russia's nickel supply has been on a downward trend, decreasing by an average of 6.3% each year. Despite this, Russia ranked third globally in nickel exports for 2023. Canada topped the list with exports valued at around $1.9 billion, followed by Malaysia in fourth place. Meanwhile, Russian nickel imports are also set to decrease. Projections indicate that imports will decline to about $89 million by 2028, from roughly $98 million in 2023. This marks an average annual decline of 1.5%. The demand for nickel in Russia has been waning since 2001, with an average yearly decrease of 2.3%, reflecting broader shifts in global and domestic markets.
