SADC: Nickel Ore Market 2024

Nickel Ore Market Size in SADC

The SADC nickel ore market rose rapidly to $X in 2021, increasing by 11% against the previous year. In general, consumption saw a slight downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Nickel Ore Production in SADC

In value terms, nickel ore production skyrocketed to $X in 2021 estimated in export price. In general, production, however, showed a noticeable decrease. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Nickel Ore Exports

Exports in SADC

In 2021, approx. X tons of nickel ores and concentrates were exported in SADC; increasing by 22% on 2020 figures. Overall, exports continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2015 with an increase of 47%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, nickel ore exports surged to $X in 2021. Over the period under review, exports, however, recorded a pronounced contraction. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Botswana (X tons) was the largest exporter of nickel ores and concentrates, comprising 67% of total exports. Zimbabwe (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Zambia (12%) and Mozambique (4.8%). Tanzania (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to nickel ore exports from Botswana stood at +20.0%. At the same time, Tanzania (+57.0%) and Mozambique (+20.5%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +57.0% from 2012-2021. Zambia experienced a relatively flat trend pattern. By contrast, Zimbabwe (-10.7%) illustrated a downward trend over the same period. While the share of Botswana (+48 p.p.), Mozambique (+3.5 p.p.) and Tanzania (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Zambia (-6 p.p.) and Zimbabwe (-42.8 p.p.) displayed negative dynamics.

In value terms, Botswana ($X) remains the largest nickel ore supplier in SADC, comprising 54% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 20% share of total exports. It was followed by Zambia, with a 20% share.

In Botswana, nickel ore exports expanded at an average annual rate of +20.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Zimbabwe (-15.6% per year) and Zambia (+7.5% per year).

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, with an increase of 17% against the previous year. Over the period under review, the export price, however, showed a drastic downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Zambia ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zambia (+8.2%), while the other leaders experienced a decline in the export price figures.

Nickel Ore Imports

Imports in SADC

In 2021, approx. X tons of nickel ores and concentrates were imported in SADC; growing by 15% against the previous year's figure. Over the period under review, imports posted a strong increase. The pace of growth appeared the most rapid in 2015 when imports increased by 2,453% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, nickel ore imports soared to $X in 2021. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,807% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Botswana (X tons) was the major importer of nickel ores and concentrates, committing 86% of total imports. It was distantly followed by Mozambique (X tons), comprising a 12% share of total imports. South Africa (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to nickel ore imports into Botswana stood at +27.1%. At the same time, Mozambique (+72.6%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +72.6% from 2012-2021. By contrast, South Africa (-24.1%) illustrated a downward trend over the same period. Botswana (+53 p.p.) and Mozambique (+12 p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by -65.2% from 2012 to 2021, respectively.

In value terms, Botswana ($X) constitutes the largest market for imported nickel ores and concentrates in SADC, comprising 88% of total imports. The second position in the ranking was held by Mozambique ($X), with an 11% share of total imports.

In Botswana, nickel ore imports increased at an average annual rate of +28.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mozambique (+53.8% per year) and South Africa (-27.2% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 47%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Botswana ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform