Nickel (Ni) is an earth element that is found abundantly on the earth’s crust and core. The metal is silvery-whitish in colour and has a lustrous texture. The metal occurs naturally in soil and water. It is an essential nutrient required by plants. It belongs to the transition metal group, with atomic number 28. It’s melting and boiling points measure around 1453° C and 2913° C, respectively.
Nickel is mainly obtained from laterite and sulfide ores, which are extracted from the earth’s surface and then processed accordingly. The metal is highly ductile, hard, and ferromagnetic in nature. It is resistant to corrosion and oxidation and is primarily used in manufacturing alloys such as stainless steel.
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The key importing countries for Nickel are India, the United States, and Vietnam. On the other hand, the primary exporting countries are India, Germany, and China.
Key Details About the Nickel Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Nickel price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Nickel Price chart, including India Nickel price, USA Nickel price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Nickel Price Trend:
Nickel is a common industrial metal that is extensively used to manufacture alloys. The materials manufactured using Nickel contain better corrosion resistivity, good strength, stable toughness at high and low temperatures, and better electrical and thermal conductivity.
Nickel has several other applications other than manufacturing alloys. It produces batteries, kitchen wares, medical equipment, jewelry, and mobile phones. It is used for plating and coating architectural or building components, using Nickel alloys such as stainless steel, Monel metal, Nickel silver, etc. It is also used in turbine blades, boat propeller shafts, batteries such as rechargeable Nickel-cadmium and Nickel-metal hydride batteries used in vehicles, and more.
Key Players:
- Umicore N.V
- American Elements
- Vale S.A.
- MMC Norilsk Nickel PJSC
- Jinchuan Group International Resources Co. Ltd
- Glencore plc
- PT Timah (Persero) Tbk
News & Recent Development
- Date: May 30, 2023- The Indonesian government has announced to launch of its Nickel price index for the current year, which will differ from the current HPM price active on Nickel ores. The government has also proposed to put off the collection of export duties on Nickel products at the SMM Industrial Conference 2023.
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