MENA: Nickel Matte Market 2024

Nickel Matte Market Size in MENA

In 2022, the MENA's nickel matte market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Nickel Matte Production in MENA

In value terms, nickel matte production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Nickel Matte Exports

Exports in MENA

In 2022, overseas shipments of nickel mattes were finally on the rise to reach X tons after two years of decline. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, nickel matte exports soared to $X in 2022. Over the period under review, exports saw a strong expansion. The growth pace was the most rapid in 2014 with an increase of X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) and Iran (X tons) dominates exports structure, together creating X% of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

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

In value terms, the largest nickel matte supplying countries in MENA were Turkey ($X), Iran ($X) and the United Arab Emirates ($X).

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, falling by X% against the previous year. Overall, the export price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Nickel Matte Imports

Imports in MENA

In 2022, supplies from abroad of nickel mattes was finally on the rise to reach X tons after two years of decline. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, nickel matte imports rose modestly to $X in 2022. Over the period under review, imports saw a resilient increase. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Turkey was the largest importer of nickel mattes in MENA, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. Morocco (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Iran (X%).

From 2012 to 2022, average annual rates of growth with regard to nickel matte imports into Turkey stood at X%. At the same time, Iran (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Turkey (X p.p.) and Iran (X p.p.) significantly strengthened its position in terms of the total imports, while Morocco saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Turkey ($X), Morocco ($X) and Iran ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

In terms of the main importing countries, Iran, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price saw a abrupt setback. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform