Israel: Nickel Market 2024

Nickel Market Size in Israel

In 2022, the Israeli nickel market decreased by -94.5% to $X, falling for the third year in a row after four years of growth. In general, consumption showed a precipitous contraction. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Nickel Exports

Exports from Israel

In 2022, approx. X tons of nickel (unwrought) were exported from Israel; growing by 83% compared with the previous year's figure. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 207% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, nickel exports surged to $X in 2022. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 215%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), Turkey (X tons) and the UK (X tons) were the main destinations of nickel exports from Israel, together comprising 79% of total exports. India, South Africa, the Netherlands and Australia lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +121.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nickel exported from Israel were the United States ($X), Turkey ($X) and the UK ($X), with a combined 80% share of total exports. India, South Africa, the Netherlands and Australia lagged somewhat behind, together comprising a further 19%.

India, with a CAGR of +173.1%, recorded the highest rates of growth with regard to the value of exports, among 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, increasing by 33% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2017 an increase of 62% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and the UK ($X per ton), while the average price for exports to the Netherlands ($X per ton) and South Africa ($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 (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Nickel Imports

Imports into Israel

In 2022, overseas purchases of nickel (unwrought) decreased by -29.4% to X tons, falling for the second year in a row after five years of growth. Overall, imports saw a mild decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 79%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, nickel imports declined to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 112%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest supplier of nickel to Israel, with a 60% share of total imports. Moreover, nickel imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by Norway (X tons), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK stood at -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.9% per year) and Norway (-15.4% per year).

In value terms, the UK ($X) constituted the largest supplier of nickel (unwrought) to Israel, comprising 60% of total imports. The second position in the ranking was held by the United States ($X), with a 24% share of total imports. It was followed by Norway, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.9% per year) and Norway (-3.0% per year).

Import Prices by Country

The average nickel import price stood at $X per ton in 2022, growing by 29% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% 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 +91.3% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and the United States ($X per ton), while the price for Italy ($X per ton) and Norway ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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