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Nickel matte: top exporters and importers (2024)

In 2024, world trade in nickel matte totaled $14.1 billion (2.7 million tonnes). Indonesia accounted for 55% of exports, followed by Canada (10%) and Zimbabwe (7%); China accounted for 53% of imports, followed by Norway (14%) and Japan (13%). Compared with 2019, the value rose 97%.

Summary

World trade
$14.1billion
Tonnes
2.7million tonnes
Price per tonne
$5,321
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Indonesia$7.7 billion · 54.8%
  2. Canada$1.4 billion · 10.1%
  3. Zimbabwe$986 million · 7%
  4. Russia$847 million · 6%
  5. Finland$829 million · 5.9%
  6. Philippines$591 million · 4.2%
  7. Papua New Guinea$422 million · 3%
  8. Australia$417 million · 3%
  9. New Caledonia$285 million · 2%
  10. Turkey$127 million · 0.9%
  11. Japan$95 million · 0.67%
  12. Cuba$89 million · 0.63%
  13. Germany$58 million · 0.41%
  14. Sweden$48 million · 0.34%
  15. South Africa$34 million · 0.24%
  16. United States$30 million · 0.21%
  17. Singapore$25 million · 0.18%
    re-exports
  18. China$12 million · 0.08%
  19. South Korea$10 million · 0.07%
  20. Thailand$8 million · 0.05%

Top importers

  1. China$7.5 billion · 53.2%
  2. Norway$2 billion · 14.3%
  3. Japan$1.8 billion · 13%
  4. South Africa$985 million · 7%
  5. Finland$667 million · 4.7%
  6. United Kingdom$407 million · 2.9%
  7. Netherlands$185 million · 1.3%
    re-exports
  8. Canada$149 million · 1.1%
  9. France$127 million · 0.9%
  10. South Korea$96 million · 0.68%
  11. Malaysia$34 million · 0.24%
  12. India$23 million · 0.17%
  13. United States$22 million · 0.16%
  14. Sweden$14 million · 0.1%
  15. Spain$11 million · 0.08%
  16. Thailand$11 million · 0.08%
  17. Italy$8 million · 0.06%
  18. Singapore$7 million · 0.05%
    re-exports
  19. Cuba$3 million · 0.02%
  20. Belgium$2 million · 0.02%
    re-exports

Trend

Who sells it

Indonesia has been the top exporter since 2022

Value in USD billions. The five largest exporters in 2024.

  • Indonesia 7.7
  • Canada 1.4
  • Zimbabwe 0.99
  • Russia 0.85
  • Finland 0.83

Source: CEPII BACI

Show the numbers
Country19952024
Indonesia0.317.7
Canada0.781.4
Zimbabwe< 0.010.99
Russia0.020.85
Finland0.010.83

Price

Implied price

The price per tonne stayed close to $5,321 since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $5,321

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$5,600
1996$4,921
1997$5,231
1998$3,618
1999$4,321
2000$5,798
2001$4,979
2002$4,586
2003$5,611
2004$8,865
2005$9,265
2006$12,484
2007$20,054
2008$14,277
2009$8,565
2010$12,994
2011$14,648
2012$10,454
2013$9,146
2014$7,995
2015$6,974
2016$6,047
2017$5,652
2018$7,662
2019$7,061
2020$7,831
2021$9,968
2022$9,370
2023$6,918
2024$5,321

What it includes

  • 7501 · Nickel matte

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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