In 2023, the import of nickel plates, sheets, strips, and foil to China was valued at around 28 million USD. Moving forward, from 2024 to 2028, the forecast shows a steady decrease in import values each year, from 26.76 million USD in 2024 to 22.866 million USD by 2028. This trend represents a consistent annual decline of approximately 3.67% during this period.
The year-on-year analysis reveals:
- A decline of 3.74% from 2024 to 2025
- A further reduction of 3.82% from 2025 to 2026
- A decrease of 3.89% from 2026 to 2027
- A fall of 3.96% from 2027 to 2028
Over the five-year period from 2023 to 2028, the Compound Annual Growth Rate (CAGR) indicates an average decline of around 3.67% annually.
Future trends to watch for include potential drivers of nickel import demands such as advancements in green technologies, changes in global supply chain dynamics, and fluctuations in global nickel prices due to geopolitical changes or economic conditions. These factors could influence China's reliance on imported nickel materials and the rate of these imports in the coming years.
