Nickel - Statistics & Facts

Nickel is a chemical element and a transition metal, mostly used for high-grade steel manufacturing. World production of nickel in mines was estimated to be some 2.1 million metric tons in 2017. Major countries in nickel mining include Indonesia, the Philippines, Canada, and New Caledonia. Australia is the country with the largest reserves of nickel, followed by Brazil and Russia. Interestingly, nickel reserves are among metals and minerals with the least remaining life years, however because nickel is highly recyclable this poses less of a problem.

The top companies based on nickel production as of 2017 were Vale from Brazil, Norilsk Nickel from Russia, and China's Jinchuan. In 2017, Vale produced 288 thousand metric tons of nickel, while Norilsk Nickel produced some 157.4 thousand metric tons of nickel.

As of 2018, the United States had one active nickel mine, located in Michigan. U.S. production figures for nickel as a refinery by-product are not available. However, the U.S. recycles substantial amounts of nickel, amounting to nearly 90 thousand metric tons from scrap in 2015. There are also considerable imports of nickel, with Canada being the major country of origin. Approximately two thirds of all consumed nickel in the U.S. is used for the production of stainless and heat-resistant steel.

In 2017, the global consumption of nickel amounted to some 2.14 million metric tons. That year, the average price for one metric ton of nickel was 10,410 U.S. dollars, a significant decrease from 22,910 U.S. dollars in 2011. Nevertheless, forecasts for the production, consumption, and price of nickel are showing a tendency to rise over the course of the years to come.

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Nickel - Important statistics

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Nickel
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  • From $365

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