HS Code:
Nickel mattes (HS Code: 750110) are intermediate products of nickel metallurgy, primarily consisting of nickel sulfide obtained from the smelting of nickel ores. They serve as a key raw material in the production of refined nickel and nickel alloys, widely used in stainless steel manufacturing, batteries for electric vehicles, and other industrial applications. The global trade of nickel mattes is influenced by mining output, refining capacities, and demand from industries like automotive and renewable energy.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
UN Comtrade Database, International Trade Centre (ITC)
USD 1.2 billion
48% of total trade of total trade
Increasing
USD 500 million
20% of total trade of total trade
Decreasing
USD 300 million
12% of total trade of total trade
Stable
USD 250 million
10% of total trade of total trade
Increasing
USD 150 million
6% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-Canada CETA)
Rising demand for nickel mattes due to EV battery production
Increased trade volumes and investment in nickel processing facilities in countries like Indonesia and China
2021-2022
Shift towards sustainable mining practices
Higher production costs but improved market access in regions with strict environmental regulations like the EU
2020-2022
Geopolitical tensions affecting supply chains
Disruptions in Russian exports due to sanctions, leading to supply shifts towards Indonesia and Canada
2022
Indonesia introduced stricter export controls on nickel mattes to prioritize domestic refining, aiming to capture higher value in the supply chain.
January 2023
Increased global prices for nickel mattes and redirected trade flows to other exporters like Canada and Australia.
The EU included nickel as a critical raw material, encouraging sustainable sourcing and imposing stricter import standards.
March 2023
Potential barriers for non-compliant exporters but opportunities for certified sustainable producers.
Sanctions on Russian nickel exports disrupted global supply, with Russia being a major player in nickel mattes trade.
February 2022 onwards
Significant price volatility and supply chain reconfiguration towards alternative suppliers.