The decline in Japan's nickel bullion imports has not stopped. As of November 2019, imports were 19 months in a low below the same month of the previous year. In addition, cumulative imports through November 2001 were at their lowest level since 2001. In particular, imports from Africa have decreased significantly, and the shadow of China is also a concern.

Overview of bullion imports

　According to Trade Statistics of the Ministry of Finance, imports of nickel bullion in November 2020 fell 37.4 percent to 2,002 tons. It also fell 47.9 percent from a year earlier, the 19th consecutive month of negative declines. Following the previous month, the longest record for a negative period is being updated.

　Total imports by November were 28,600 tons, down 32.9 percent from the previous year. The total import volume in the nearby last 10 years has been lower. Furthermore, if we look at the past record, it is the smallest import volume since 2001.

　In November, the average unit price of nickel bullion imports was 1,563 yen per kilo, two yen higher than the previous month. Japan's imports of nickel bullion have been greatly reduced. Globally, however, unit prices have continued to rise moderately as China and other countries are buying nickel bullion around the world.

　In 2018 and 2019, 60% of Japan's total imports of nickel bullion were from Australia and Madagascar. Last year, however, Madagascar's numbers were reduced by about half year-on-year. In November, imports from Madagascar were still zero. A similar decline has occurred in nickel imports from South Africa.

　Last year's imports from Australia were also slightly reduced, but that was still down only about 7% year-on-year.

　Currently, nickel bullion seems to be concentrated in a few countries and regions such as China. Therefore, many areas imported by Japan may have changed their export destinations to China and other countries. However, is there a possibility that the amount of imports to Japan has not decreased only in Australia because of China's relations?

　Meanwhile, Finland is the only country in 2020 that imports are increasing from the previous year. As for Finland, imports of cobalt have also increased, and the relationship with the supply of materials for lithium-ion secondary batteries is also a concern.

　In November 2020, the difference between the import volume of nickel bullion and the average unit price per kilo and the previous month was as follows.

　Australia      1,170 tons 1,588.61 yen higher

　Norway       162 tons 1,586 yen 139 yen lower

　Canada       280 tons 1,618 yen 31 yen lower

　South Africa   220 tons 1,373 yen 16 yen higher

　Finland       120 tons 1,390 yen 109 yen higher

　Customs excluding “Fushiki in Toyama” imported less than the previous year's imports last year. However, as of November, Nagoya and Moji were only one-digit percentage points behind the year-on-year rate of change in imports. As a result, Nagoya expanded relatively in the share of imports of nickel bullion by customs last year, due to other large declines.

　However, looking only in November, Nagoya's import volume fell by 32.3% compared to the same month last year, turning negative for the first time in four months.

　Imports by customs and the average unit price per kilo in November are as follows:

　　Nagoya      860 tons 1,556 yen

　　Moji         180 tons 1,659 yen

　　Yokohama   140 tons 1,602 yen

　　Kobe        490 tons 1,528 yen

　　Tokuyama   100 tons 1,573 yen

　　Tokyo       120 tons 1,627 yen

(IRuniverse)

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