Czech Republic: Nickel Market 2024

Nickel Market Size in the Czech Republic

The Czech nickel market expanded markedly to $X in 2022, picking up by 5.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +33.4% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Nickel Exports

Exports from the Czech Republic

In 2022, overseas shipments of nickel (unwrought) decreased by -23.5% to X tons, falling for the fourth consecutive year after two years of growth. Overall, exports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2017 with an increase of 97% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, nickel exports stood at $X in 2022. In general, exports faced a significant curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 113% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Poland (X tons) and France (X tons) were the main destinations of nickel exports from the Czech Republic, with a combined 63% share of total exports. India, Slovakia, Belgium and Slovenia lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +135.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and India ($X) were the largest markets for nickel exported from the Czech Republic worldwide, with a combined 62% share of total exports.

India, with a CAGR of +182.7%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nickel export price stood at $X per ton in 2022, surging by 41% against the previous year. In general, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nickel export price increased by +129.4% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Belgium ($X per ton) and India ($X per ton), while the average price for exports to Germany ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Nickel Imports

Imports into the Czech Republic

In 2022, approx. X tons of nickel (unwrought) were imported into the Czech Republic; with a decrease of -10.2% compared with 2021 figures. In general, imports showed a pronounced slump. The most prominent rate of growth was recorded in 2014 when imports increased by 131%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nickel imports expanded notably to $X in 2022. Over the period under review, imports recorded a mild setback. The most prominent rate of growth was recorded in 2014 when imports increased by 105%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Finland (X tons), Italy (X tons) and Russia (X tons) were the main suppliers of nickel imports to the Czech Republic, with a combined 51% share of total imports. Germany, the UK, Australia, South Africa, Belgium, Slovakia and Spain lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +74.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Italy ($X) and Russia ($X) were the largest nickel suppliers to the Czech Republic, together comprising 48% of total imports. Australia, Germany, the UK, South Africa, Belgium, Slovakia and Spain lagged somewhat behind, together accounting for a further 41%.

Australia, with a CAGR of +75.0%, saw the highest rates of growth with regard to 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.

Import Prices by Country

The average nickel import price stood at $X per ton in 2022, surging by 25% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nickel import price increased by +117.7% against 2016 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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