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Pricing

Nickel; waste and scrap

7503 (Harmonized System 1992 for 4-digit)

2023
World Trade $1.45BRnk 852 / 1217
2023
Top Exporter | Top Importer $209M | $480MUnited Kingdom | United States
2023
Product Complexity 0.075Rnk 542 / 1044
2022 - 2023
Export Growth (CAGR) 3.86%Rnk 286 / 1217
2023
Share of World Trade 0.0064%Rnk 852 / 1217

About

Overview This page contains the latest trade data of Scrap Nickel. In 2023, Scrap Nickel were the world's 852nd most traded product, with a total trade of $1.45B. Between 2022 and 2023 the exports of Scrap Nickel grew by 3.86%, from $1.39B to $1.45B. Trade in Scrap Nickel represent 0.0064% of total world trade.

Scrap Nickel are a part of Nickel articles. They include Nickel waste or scrap.

Exports In 2023 the top exporters of Scrap Nickel  were United Kingdom ($209M), United States ($165M), Germany ($164M), Singapore ($94.5M), and Canada ($85.2M).

Imports In 2023 the top importers of Scrap Nickel were United States ($480M), United Kingdom ($185M), Japan ($148M), Germany ($118M), and Sweden ($98.8M).

Ranking Scrap Nickel ranks 542nd in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Scrap Nickel. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

Explore Latest Trends

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)United Kingdom$209M
Top Destination (2023)United States$480M

In 2023 Scrap Nickel were the world's 852nd most traded product (out of 1,217).

In 2023, the top exporters of Scrap Nickel were United Kingdom ($209M), United States ($165M), Germany ($164M), Singapore ($94.5M), and Canada ($85.2M).

In 2023, the top importers of Scrap Nickel were United States ($480M), United Kingdom ($185M), Japan ($148M), Germany ($118M), and Sweden ($98.8M).

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Exporters of Scrap Nickel (2023)
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Importers of Scrap Nickel (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Singapore$35.4M
Top Destination Growth (2022 -  2023)United States$61.7M

Between 2022 and 2023, the exports of Scrap Nickel grew the fastest in Singapore ($35.4M), China ($27.6M), Canada ($26M), Mexico ($18.5M), and Austria ($14.1M).

Between 2022 and 2023, the fastest growing importers of Scrap Nickel were United States ($61.7M), Canada ($27.2M), Singapore ($15.9M), India ($12.2M), and Australia ($7.74M).

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Exporters of Scrap Nickel (2022 - 2023)

Importers of Scrap Nickel (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Scrap Nickel.

In 2023, market concentration measured using Shannon Entropy, was 4.55. This means that most of the exports of Scrap Nickel are explained by 23 countries.

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Value of Exports in Scrap Nickel

Net Trade

TOP NET EXPORTER (2023)China$68.5M
TOP NET IMPORTER (2023)United States$315M

This map shows which countries export or import more of Scrap Nickel. Each country is colored based on the difference in exports and imports of Scrap Nickel during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Scrap Nickel were China ($68.5M), Mexico ($57.6M), Singapore ($51M), Germany ($46.1M), and France ($45.8M).

In 2023, the countries that had a largest trade value in imports than in exports of Scrap Nickel were United States ($315M), Japan ($97M), Sweden ($90.8M), Australia ($15.2M), and India ($14.9M).

Net Trade (2023)

Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Scrap Nickel.
It is possible to select the main countries that export or import Scrap Nickel in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Scrap Nickel by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALGermany+ $3.7M
TOP IMPORT POTENTIALRussia+ $1.23M

Scrap Nickel’s highest export potential is Germany. With an export gap of $3.7M.  Scrap Nickel’s highest import potential is Russia with an import gap of $1.23M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

Country by Relatedness

The following visualization shows the relatedness of Scrap Nickel to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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