Belgium: Nickel Ore Market 2024

Nickel Ore Market Size in Belgium

The Belgian nickel ore market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. Nickel ore consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Nickel Ore Production in Belgium

In value terms, nickel ore production rose remarkably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.1% against 2018 indices. The growth pace was the most rapid in 2017 when the production volume increased by 49%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Nickel Ore Exports

Exports from Belgium

In 2021, overseas shipments of nickel ores and concentrates increased by 127% to X tons, rising for the second consecutive year after two years of decline. In general, exports saw a significant increase. The growth pace was the most rapid in 2017 when exports increased by 1,102% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, nickel ore exports skyrocketed to $X in 2021. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 720% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

South Africa (X tons) was the main destination for nickel ore exports from Belgium, accounting for a 73% share of total exports. Moreover, nickel ore exports to South Africa exceeded the volume sent to the second major destination, Brazil (X tons), fivefold.

From 2013 to 2021, the average annual growth rate of volume to South Africa totaled +90.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+36.5% per year) and the Netherlands (-0.5% per year).

In value terms, South Africa ($X) remains the key foreign market for nickel ores and concentrates exports from Belgium, comprising 68% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 18% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of value to South Africa totaled +226.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+6.0% per year) and Brazil (+62.7% per year).

Export Prices by Country

The average nickel ore export price stood at $X per ton in 2021, surging by 58% against the previous year. In general, the export price enjoyed a modest increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+71.0%), while the prices for the other major destinations experienced more modest paces of growth.

Nickel Ore Imports

Imports into Belgium

In 2021, supplies from abroad of nickel ores and concentrates increased by 193% to X tons, rising for the second consecutive year after two years of decline. Overall, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 3,765%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, nickel ore imports soared to $X in 2021. Over the period under review, imports showed a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 4,142%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of nickel ore to Belgium, accounting for a 89% share of total imports. Moreover, nickel ore imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold. The third position in this ranking was held by South Africa (X tons), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands amounted to +167.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (0.0% per year) and South Africa (+249.2% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of nickel ores and concentrates to Belgium, comprising 83% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 7.9% share of total imports. It was followed by South Africa, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +164.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (0.0% per year) and South Africa (+216.6% per year).

Import Prices by Country

In 2021, the average nickel ore import price amounted to $X per ton, rising by 40% against the previous year. Overall, the import price, however, saw a pronounced descent. The pace of growth was the most pronounced in 2018 an increase of 162% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+33.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform