Price for Alloy Steel Flat-Rolled Products, of A Width 600mm or More in Nigeria - 2023
Contents:
- Price for Alloy Steel Flat-Rolled Products, of A Width 600mm or More in Nigeria (CIF) - 2023
- Imports of Alloy Steel Flat-Rolled Products, of A Width 600mm or More in Nigeria
Price for Alloy Steel Flat-Rolled Products, of A Width 600mm or More in Nigeria (CIF) - 2023
The average import price for alloy steel flat-rolled products, of a width 600mm or mores stood at $1,216 per ton in December 2023, with an increase of 28% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in October 2023 an increase of 154% month-to-month. The import price peaked at $1,470 per ton in August 2023; however, from September 2023 to December 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Finland ($6,058 per ton), while the price for China stood at $1,044 per ton.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Finland (0.0%).
Imports of Alloy Steel Flat-Rolled Products, of A Width 600mm or More in Nigeria
In 2022, supplies from abroad of alloy steel flat-rolled products, of a width 600mm or mores increased by 2.4% to 21K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a deep contraction.
In value terms, imports of alloy steel flat-rolled products, of a width 600mm or mores reduced slightly to $23M in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 19%. As a result, imports attained the peak of $23M, and then fell in the following year.
| Import of Alloy Steel Flat-Rolled Products, of A Width 600mm or More in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.8 | 19.0 | 13.6 | 21.5 | 13.3% |
| Belgium | 0.1 | N/A | 0.8 | 1.0 | 115.4% |
| South Korea | N/A | N/A | 2.5 | N/A | 0% |
| India | 1.2 | 0.1 | 0.4 | N/A | -42.3% |
| Ukraine | 4.0 | N/A | 4.0 | N/A | 0.0% |
| Others | 0.7 | 0.5 | 2.0 | 0.2 | -34.1% |
| Total | 20.7 | 19.6 | 23.3 | 22.7 | 3.1% |
Top Suppliers of Alloy Steel Flat-Rolled Products, of A Width 600mm or More to Nigeria in 2022:
- China (20.8K tons)
- Belgium (0.6K tons)
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