Vietnam: Nickel Market 2022

Nickel Market Size in Vietnam

The Vietnamese nickel market fell remarkably to $X in 2021, which is down by -X% 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). Overall, the total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2016 indices. As a result, consumption reached the peak level of $X, and then plummeted in the following year.

Nickel Exports

Exports from Vietnam

In 2021, the amount of nickel exported from Vietnam skyrocketed to X kg, growing by X% on 2020 figures. Overall, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, nickel exports surged to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X kg) was the main destination for nickel exports from Vietnam, with a X% share of total exports. Moreover, nickel exports to South Korea exceeded the volume sent to the second major destination, Italy (X kg), threefold.

From 2012 to 2021, the average annual growth rate of volume to South Korea stood at +X%.

In value terms, the largest markets for nickel exported from Vietnam were South Korea ($X) and Italy ($X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average nickel export price stood at $X per ton in 2021, which is down by -X% against the previous year. Over the period under review, the export price recorded a deep slump. The growth pace was the most rapid in 2013 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to South Korea stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+X%).

Nickel Imports

Imports into Vietnam

In 2021, imports of nickel into Vietnam contracted rapidly to X tons, reducing by -X% compared with the previous year's figure. Overall, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, nickel imports contracted rapidly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

Canada (X tons), Japan (X tons) and Finland (X tons) were the main suppliers of nickel imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2021, the biggest increases were in Finland (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nickel suppliers to Vietnam were Canada ($X), Japan ($X) and Finland ($X), together accounting for X% of total imports.

Finland, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average nickel import price amounted to $X per ton, approximately mirroring the previous year. In general, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Brazil ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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