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India - Nickel (Unwrought) - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

India - Nickel (Unwrought) - Market Analysis, Forecast, Size, Trends And Insights

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May 27, 2023

India's Nickel Price Rises Notably to $29.1 per kg

India Nickel Import Price in February 2023

In February 2023, the nickel price amounted to $29,090 per ton (CIF, India), growing by 7.3% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.3%. The most prominent rate of growth was recorded in April 2022 an increase of 21% month-to-month. Over the period under review, average import prices reached the peak figure at $30,808 per ton in May 2022; however, from June 2022 to February 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In February 2023, the countries with the highest prices were Canada ($30,145 per ton) and Japan ($29,770 per ton), while the price for the Netherlands ($22,532 per ton) and China ($28,190 per ton) were amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Japan (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

COUNTRYImport Price of Nickel in India (USD per ton)
Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023
Canada21,28024,32324,39625,98820,12330,88226,10724,96322,08123,52526,26128,39930,145
Japan7,15524,14125,65827,06429,02931,50823,85423,04823,66623,84526,75329,65929,770
Norway22,11623,72831,66434,30731,49928,93524,41822,48722,31123,16427,62129,89729,614
United Arab Emirates19,891< 0.133,01933,78628,31521,17422,86823,57722,41927,92928,20331,81329,527
Switzerland21,42423,146< 0.129,14034,37726,88430,79822,69321,80426,46329,13631,31729,085
Singapore22,31224,13827,337< 0.1< 0.123,64124,144< 0.123,63226,082< 0.133,22128,800
United Kingdom22,73326,16634,35631,67531,47628,57724,29022,52023,59824,06728,51526,54928,391
South Korea22,14520,706< 0.1< 0.128,552< 0.122,767< 0.124,12223,57623,85928,92028,232
China23,14723,566< 0.138,02526,92224,71823,07323,90415,94425,3379,64920,84028,190
Netherlands23,18322,39321,18728,72228,49422,99823,76422,33022,85122,63425,25030,40322,532
South Africa21,74323,51829,24631,92831,60926,10023,63122,05323,29124,19926,92231,443< 0.1
Russia24,37023,60536,678< 0.128,71726,72422,46822,96522,51122,97423,33627,018< 0.1
Average22,02823,53728,40330,80828,69325,29123,53722,73219,97723,86824,62427,11829,090

India Nickel Imports

In February 2023, the amount of nickel (unwrought) imported into India declined rapidly to 1.9K tons, waning by -32.5% compared with January 2023 figures. In general, imports continue to indicate a deep reduction. The growth pace was the most rapid in June 2022 with an increase of 55% month-to-month.

In value terms, nickel imports dropped remarkably to $54M (IndexBox estimates) in February 2023. Over the period under review, imports saw a perceptible reduction. The most prominent rate of growth was recorded in December 2022 when imports increased by 45% m-o-m.

India Nickel Imports by Country

China (345 tons), Norway (334 tons) and Canada (270 tons) were the main suppliers of nickel imports to India, with a combined 51% share of total imports.

From February 2022 to February 2023, the biggest increases were in China (with a CAGR of +18.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nickel suppliers to India were Norway ($9.9M), China ($9.7M) and Canada ($8.1M), together accounting for 51% of total imports. Japan, South Korea, Switzerland, Singapore, the United Arab Emirates, the UK and the Netherlands lagged somewhat behind, together comprising a further 46%.

Japan, with a CAGR of +21.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the nickel market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24451100 - Nickel, unwrought
  • Prodcom 24451110 -
  • Prodcom 24451120 -

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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