Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Nigeria - 2023
Contents:
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Nigeria (CIF) - 2022
- Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Nigeria
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Nigeria (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel wire, plated or coated with zincs amounted to $1,336 per ton, falling by -18.9% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for iron or non-alloy steel wire, plated or coated with zincs increased by +53.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 48%. As a result, import price reached the peak level of $1,647 per ton, and then fell markedly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($2,310 per ton), while the price for China ($1,310 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Nigeria
In 2022, purchases abroad of iron or non-alloy steel wire, plated or coated with zincs increased by 55% to 2.7K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, faced a dramatic decrease.
In value terms, imports of iron or non-alloy steel wire, plated or coated with zincs soared to $3.7M in 2022. Over the period under review, imports, however, recorded a abrupt descent.
| Import of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3,571 | 2,615 | 2,227 | 3,424 | -1.4% |
| Turkey | 852 | 720 | 262 | 57.9 | -59.2% |
| Qatar | 54.2 | 230 | 58.0 | 46.8 | -4.8% |
| Togo | 128 | 533 | 91.3 | N/A | -15.5% |
| Others | 220 | 245 | 276 | 130 | -16.1% |
| Total | 4,826 | 4,343 | 2,915 | 3,658 | -8.8% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc to Nigeria in 2022:
- China (2613.3 tons)
- Qatar (32.4 tons)
- Turkey (25.1 tons)
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