Price for Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria - 2023
Contents:
- Price for Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria (FOB) - 2022
- Price for Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria (CIF) - 2022
- Exports of Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria
- Imports of Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria
Price for Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria (FOB) - 2022
In 2022, the average export price for copper; bars, rods and profiles, of refined coppers amounted to $8,827 per ton, picking up by 29% against the previous year. Over the period under review, the export price recorded a measured expansion. The most prominent rate of growth was recorded in 2017 an increase of 210%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($14,841 per ton), while the average price for exports to Sierra Leone ($4,473 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+17.8%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria (CIF) - 2022
The average import price for copper; bars, rods and profiles, of refined coppers stood at $7,128 per ton in 2022, picking up by 18% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2018 an increase of 23% against the previous year. Over the period under review, average import prices attained the maximum at $9,033 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($58,200 per ton), while the price for India ($3,352 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria
In 2022, exports of copper; bars, rods and profiles, of refined coppers from Nigeria surged to 43 tons, with an increase of 578% on 2021. Over the period under review, exports, however, saw a sharp slump. The pace of growth appeared the most rapid in 2021 when exports increased by 8,001% against the previous year.
In value terms, exports of copper; bars, rods and profiles, of refined coppers soared to $383K in 2022. In general, exports, however, saw a abrupt contraction. The growth pace was the most rapid in 2021 when exports increased by 10,905%.
| Export of Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | N/A | N/A | N/A | 218 | 0% |
| Ghana | 343 | 0.3 | 35.2 | 156 | -23.1% |
| Sierra Leone | 163 | 0.1 | 8.7 | 9.6 | -61.1% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 506 | 0.4 | 43.9 | 383 | -8.9% |
Top Export Markets for Copper; Bars, Rods and Profiles, of Refined Copper from Nigeria in 2022:
- Ghana (26.6 tons)
- Taiwan (Chinese) (14.7 tons)
- Sierra Leone (2.1 tons)
Imports of Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria
In 2022, overseas purchases of copper; bars, rods and profiles, of refined coppers decreased by -51.5% to 30 tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a dramatic descent. The most prominent rate of growth was recorded in 2020 with an increase of 101% against the previous year. As a result, imports attained the peak of 484 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of copper; bars, rods and profiles, of refined coppers declined sharply to $211K in 2022. In general, imports recorded a sharp decline. The most prominent rate of growth was recorded in 2020 with an increase of 72%. As a result, imports attained the peak of $3.5M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Copper; Bars, Rods and Profiles, of Refined Copper in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 1,428 | 2,605 | 249 | 135 | -54.4% |
| Belgium | 231 | 263 | 34.6 | 25.8 | -51.8% |
| Turkey | 17.2 | 58.2 | 12.3 | 12.2 | -10.8% |
| Thailand | 118 | 328 | 11.4 | 12.1 | -53.2% |
| Malaysia | 97.2 | 101 | 12.2 | 8.3 | -56.0% |
| India | 20.9 | 8.0 | 2.9 | 2.8 | -48.8% |
| Others | 125 | 152 | 46.1 | 14.7 | -51.0% |
| Total | 2,038 | 3,516 | 368 | 211 | -53.0% |
Top Suppliers of Copper; Bars, Rods and Profiles, of Refined Copper to Nigeria in 2022:
- United Arab Emirates (15.0 tons)
- Belgium (6.0 tons)
- Turkey (2.9 tons)
- Malaysia (2.1 tons)
- Thailand (1.4 tons)
- India (0.8 tons)
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