Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria - 2023
Contents:
- Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria (CIF) - 2022
- Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria (FOB) - 2022
- Imports of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria
- Exports of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria
Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria (CIF) - 2022
In 2022, the average import price for copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses amounted to $1,991 per ton, rising by 23% against the previous year. In general, the import price showed a slight expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 447%. As a result, import price attained the peak level of $3,263 per ton. From 2018 to 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($3,283 per ton), while the price for China ($753 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria (FOB) - 2022
In 2021, the average export price for copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses amounted to $5,793 per ton, growing by 271% against the previous year. In general, the export price continues to indicate buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($64,667 per ton), while the average price for exports to Ghana ($2,373 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+56.6%), while the prices for the other major destinations experienced a decline.
Imports of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria
In 2022, purchases abroad of copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses decreased by -96% to 5 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports continue to indicate a dramatic setback. The pace of growth appeared the most rapid in 2020 when imports increased by 293%.
In value terms, imports of copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses reduced dramatically to $9.9K in 2022. Over the period under review, imports faced a sharp setback. The pace of growth appeared the most rapid in 2021 when imports increased by 154%. As a result, imports attained the peak of $203K, and then plummeted in the following year.
| Import of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Egypt | 13.7 | 37.9 | 85.0 | 4.7 | -30.0% |
| Malaysia | 16.2 | 27.5 | 67.3 | 2.2 | -48.6% |
| United Kingdom | 0.3 | 4.9 | 16.7 | 1.1 | 54.2% |
| Singapore | 1.4 | 4.3 | 10.5 | 0.6 | -24.6% |
| China | 0.1 | 0.5 | 8.3 | 0.3 | 44.2% |
| Switzerland | 0.4 | 1.4 | 4.1 | 0.3 | -9.1% |
| Others | 1.6 | 3.4 | 11.0 | 0.6 | -27.9% |
| Total | 33.7 | 79.9 | 203 | 9.9 | -33.5% |
Top Suppliers of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils to Nigeria in 2022:
- Egypt (2079.0 kg)
- United Kingdom (1280.0 kg)
- Malaysia (661.0 kg)
- China (397.0 kg)
- Singapore (276.0 kg)
- Switzerland (135.0 kg)
Exports of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria
In 2021, after two years of growth, there was significant decline in overseas shipments of copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses, when their volume decreased by -42.9% to 164 kg. In general, exports, however, continue to indicate a perceptible increase. The pace of growth appeared the most rapid in 2020 with an increase of 85%. As a result, the exports reached the peak of 287 kg, and then declined significantly in the following year.
In value terms, exports of copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses soared to $950 in 2021. Overall, exports, however, posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Cote d'Ivoire | N/A | N/A | 582 | 0% | |
| Ghana | 198 | 256 | 363 | 35.4% | |
| Cameroon | 409 | 4.0 | 5.0 | -88.9% | |
| Uganda | N/A | 188 | N/A | 0% | |
| Others | N/A | N/A | N/A | 0% | |
| Total | 607 | 448 | 950 | 25.1% | |
Top Export Markets for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils from Nigeria in 2022:
- Ghana (153.0 kg)
- Cote d'Ivoire (9.0 kg)
- Cameroon (2.0 kg)
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This report provides an in-depth analysis of the market for copper bars, wire and plates in Nigeria.
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This report provides an in-depth analysis of the global market for copper bars, wire and plates.
