Price for Copper Tube or Pipe Fitting in Nigeria - 2022
Contents:
- Price for Copper Tube or Pipe Fitting in Nigeria (CIF) - 2022
- Price for Copper Tube or Pipe Fitting in Nigeria (FOB) - 2022
- Imports of Copper Tube or Pipe Fitting in Nigeria
- Exports of Copper Tube or Pipe Fitting in Nigeria
Price for Copper Tube or Pipe Fitting in Nigeria (CIF) - 2022
In 2022, the average import price for tube or pipe fittings, couplings, elbows, sleeves of refined copper amounted to $15,374 per ton, with a decrease of -23.1% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper tube or pipe fitting import price increased by +14.2% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 40% against the previous year. As a result, import price attained the peak level of $19,998 per ton, and then fell significantly in the following year.
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 Belgium ($523,000 per ton), while the price for China ($8,960 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+54.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Copper Tube or Pipe Fitting in Nigeria (FOB) - 2022
The average export price for tube or pipe fittings, couplings, elbows, sleeves of refined copper stood at $9,314 per ton in 2022, declining by -44.4% against the previous year. In general, the export price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 an increase of 373%. As a result, the export price attained the peak level of $16,745 per ton, and then fell markedly in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($5,942 per ton), while the average price for exports to Ghana totaled $2,162 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+5.8%), while the prices for the other major destinations experienced a decline.
Imports of Copper Tube or Pipe Fitting in Nigeria
In 2022, supplies from abroad of tube or pipe fittings, couplings, elbows, sleeves of refined copper was finally on the rise to reach 3.7 tons after two years of decline. Over the period under review, imports, however, saw a significant decrease.
In value terms, copper tube or pipe fitting imports skyrocketed to $58K in 2022. Overall, imports, however, saw a significant curtailment.
| Import of Copper Tube or Pipe Fitting in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 48.4 | 13.3 | 5.6 | 24.1 | -20.7% |
| Norway | 2.8 | 2.6 | 9.6 | 5.3 | 23.7% |
| South Korea | 6.5 | 2.4 | 6.0 | 3.7 | -17.1% |
| Israel | 12.4 | 2.8 | 3.6 | 3.5 | -34.4% |
| United Arab Emirates | 16.6 | 1.2 | 2.3 | 3.2 | -42.2% |
| Italy | 9.2 | 3.0 | 6.1 | 3.0 | -31.2% |
| Germany | 10.2 | 3.7 | 7.6 | 1.0 | -53.9% |
| Turkey | 24.0 | 15.7 | 0.7 | 0.5 | -72.5% |
| South Africa | 7.3 | 1.5 | 1.0 | 0.5 | -59.1% |
| Others | 52.1 | 19.2 | 7.0 | 12.8 | -37.4% |
| Total | 190 | 65.4 | 49.7 | 57.5 | -32.9% |
Top Suppliers of Copper Tube or Pipe Fitting to Nigeria in 2022:
- China (2689.0 kg)
- Italy (310.0 kg)
- Norway (191.0 kg)
- Israel (163.0 kg)
- United Arab Emirates (93.0 kg)
- South Korea (93.0 kg)
- South Africa (49.0 kg)
- Germany (21.0 kg)
- Turkey (12.0 kg)
Exports of Copper Tube or Pipe Fitting in Nigeria
Copper tube or pipe fitting exports from Nigeria skyrocketed to 280 kg in 2022, jumping by 99% compared with 2021 figures. In general, exports, however, continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2020 when exports increased by 148%. As a result, the exports attained the peak of 807 kg. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, copper tube or pipe fitting exports expanded significantly to $2.6K in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +24.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -8.7% against 2020 indices. The growth pace was the most rapid in 2020 when exports increased by 109%. As a result, the exports attained the peak of $2.9K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Copper Tube or Pipe Fitting in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | N/A | N/A | N/A | 1,230 | 0% |
| Ghana | 1,155 | 184 | 147 | 147 | -49.7% |
| Benin | N/A | 16.0 | N/A | N/A | 0% |
| Niger | N/A | 625 | N/A | N/A | 0% |
| Democratic Republic of the Congo | N/A | 1,995 | N/A | N/A | 0% |
| Egypt | N/A | N/A | 2,183 | N/A | 0% |
| Others | 210 | 36.0 | 31.0 | 1,231 | 80.3% |
| Total | 1,365 | 2,856 | 2,361 | 2,608 | 24.1% |
Top Export Markets for Copper Tube or Pipe Fitting from Nigeria in 2022:
- Singapore (207.0 kg)
- Ghana (68.0 kg)
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