Price for Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria - 2023
Contents:
- Price for Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria (FOB) - 2023
- Price for Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria (CIF) - 2023
- Exports of Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria
- Imports of Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria
Price for Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria (FOB) - 2023
In December 2023, the average export price for copper; refined, unwrought, cathodes and sections of cathodeses amounted to $12,132 per ton, jumping by 117% against the previous month. Over the period under review, the export price saw perceptible growth. The export price peaked at $13,078 per ton in October 2023; however, from November 2023 to December 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In December 2023, the country with the highest price was China ($12,607 per ton), while the average price for exports to South Korea ($11,050 per ton) was amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria (CIF) - 2023
The average import price for copper; refined, unwrought, cathodes and sections of cathodeses stood at $56,244 per ton in August 2023, leveling off at the previous month. Over the period under review, the import price recorded a significant expansion. The import price peaked in August 2023.
As there is only one major supplying country, the average price level is determined by prices for the UK.
From January 2023 to August 2023, the rate of growth in terms of prices for the UK amounted to +32.3% per month.
Exports of Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria
In 2022, approx. 11K tons of copper; refined, unwrought, cathodes and sections of cathodeses were exported from Nigeria; with a decrease of -17% on 2021. Over the period under review, exports showed a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 99%.
In value terms, exports of copper; refined, unwrought, cathodes and sections of cathodeses stood at $80M in 2022. In general, exports, however, recorded resilient growth. The growth pace was the most rapid in 2021 with an increase of 133% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the near future.
| Export of Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 4.1 | 5.3 | 15.8 | 22.1 | 75.3% |
| China | 0.8 | 3.0 | 11.6 | 10.7 | 137.4% |
| South Korea | 20.1 | 5.8 | 7.8 | 7.1 | -29.3% |
| India | 1.6 | N/A | N/A | 0.1 | -60.3% |
| Spain | 1.6 | 0.9 | N/A | N/A | -43.8% |
| Greece | N/A | N/A | 0.1 | N/A | 0% |
| Others | 29.0 | 15.3 | 35.3 | 40.0 | 11.3% |
| Total | 57.1 | 30.2 | 70.6 | 79.9 | 11.9% |
Top Export Markets for Copper; Refined, Unwrought, Cathodes and Sections of Cathodes from Nigeria in 2022:
- Japan (3.0K tons)
- China (1.4K tons)
- South Korea (1.0K tons)
Imports of Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria
In 2022, imports of copper; refined, unwrought, cathodes and sections of cathodeses into Nigeria surged to 32 tons, picking up by 1,605,400% against the previous year. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of copper; refined, unwrought, cathodes and sections of cathodeses surged to $143K in 2022. Over the period under review, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Copper; Refined, Unwrought, Cathodes and Sections of Cathodes in Nigeria (Thousand USD) | |||
|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 |
| Netherlands | N/A | 71.4 | 0% |
| Others | 1.0 | 71.4 | 7040.0% |
| Total | 1.0 | 143 | 14200.0% |
Top Suppliers of Copper; Refined, Unwrought, Cathodes and Sections of Cathodes to Nigeria in 2022:
- Netherlands (16.1 tons)
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