Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in Nigeria - 2022
Contents:
- Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in Nigeria (CIF) - 2022
- Imports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in Nigeria
Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in Nigeria (CIF) - 2022
In 2022, the average import price for aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms amounted to $8,698 per ton, increasing by 7.8% against the previous year. Overall, the import price continues to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 105% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.
As there is only one major supplying country, the average price level is determined by prices for Germany.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +24.3% per year.
Imports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in Nigeria
In 2022, after two years of decline, there was significant growth in purchases abroad of aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms, when their volume increased by 523% to 21 tons. Overall, imports, however, saw a abrupt contraction.
In value terms, imports of aluminium; alloys, wire, maximum cross-sectional dimension exceeding 7mms soared to $181K in 2022. In general, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 1.0 | 1.3 | 8.0 | 180 | 464.6% |
| Spain | 1.8 | 1.0 | 0.6 | N/A | -42.3% |
| China | 4.2 | 13.8 | 4.1 | N/A | -1.2% |
| United States | 25.9 | 17.7 | 13.5 | N/A | -27.8% |
| India | 2.1 | 0.6 | 0.4 | N/A | -56.4% |
| Oman | 18.2 | N/A | N/A | N/A | 0% |
| United Arab Emirates | N/A | 45.7 | N/A | N/A | 0% |
| Netherlands | 4.8 | 0.8 | 0.2 | N/A | -79.6% |
| Ghana | N/A | 23.9 | N/A | N/A | 0% |
| Others | 0.6 | 0.7 | N/A | 0.1 | -45.0% |
| Total | 58.5 | 106 | 26.9 | 181 | 45.7% |
Top Suppliers of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Exceeding 7mm to Nigeria in 2022:
- Germany (20.7 tons)
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