Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria - 2023

Contents:

1. Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria (CIF) - 2022
2. Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria (FOB) - 2022
3. Imports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria
4. Exports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria

Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria (CIF) - 2022

The average import price for iron or steel cast fittings, other than of non-malleable cast ira stood at $637 per ton in 2022, declining by -55.2% against the previous year. Over the period under review, the import price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 71%. Over the period under review, average import prices hit record highs at $5,491 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($8,363 per ton), while the price for China ($558 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+144.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria (FOB) - 2022

In 2022, the average export price for iron or steel cast fittings, other than of non-malleable cast ira amounted to $464 per ton, declining by -92.2% against the previous year. Over the period under review, the export price saw a significant curtailment. The pace of growth was the most pronounced in 2021 when the average export price increased by 1,237%. The export price peaked at $12,445 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($3,475 per ton), while the average price for exports to Senegal ($302 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 Angola (+65.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria

In 2022, imports of iron or steel cast fittings, other than of non-malleable cast ira into Nigeria surged to 9.6K tons, with an increase of 204% on the previous year. Overall, imports enjoyed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 432% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of iron or steel cast fittings, other than of non-malleable cast ira skyrocketed to $6.1M in 2022. In general, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 115%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Top Suppliers of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron to Nigeria in 2022:

1. China (9.4K tons)
2. Germany (0.1K tons)

Exports of Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron in Nigeria

In 2022, exports of iron or steel cast fittings, other than of non-malleable cast ira from Nigeria rose notably to 5.4 tons, picking up by 11% compared with 2021 figures. Overall, exports, however, showed a sharp reduction. The pace of growth was the most pronounced in 2020 when exports increased by 87% against the previous year. As a result, the exports reached the peak of 48 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of iron or steel cast fittings, other than of non-malleable cast ira contracted significantly to $2.5K in 2022. Over the period under review, exports, however, continue to indicate a precipitous slump. The growth pace was the most rapid in 2020 with an increase of 71% against the previous year.

Top Export Markets for Iron or Steel Cast Fittings, Other than of Non-Malleable Cast Iron from Nigeria in 2022:

1. Burkina Faso (5.0 tons)
2. Senegal (0.2 tons)
3. Angola (0.2 tons)

Source: IndexBox Market Intelligence Platform