Price for Nickel; Bars, Rods, Profiles and Wire in Nigeria - 2023
Contents:
- Price for Nickel; Bars, Rods, Profiles and Wire in Nigeria (CIF) - 2022
- Imports of Nickel; Bars, Rods, Profiles and Wire in Nigeria
Price for Nickel; Bars, Rods, Profiles and Wire in Nigeria (CIF) - 2022
The average import price for nickel; bars, rods, profiles and wires stood at $91,382 per ton in 2022, jumping by 15% against the previous year. In general, the import price saw pronounced growth. The pace of growth appeared the most rapid in 2019 when the average import price increased by 86% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
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 Italy ($276,000 per ton), while the price for India ($43,693 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+73.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Nickel; Bars, Rods, Profiles and Wire in Nigeria
Imports of nickel; bars, rods, profiles and wires into Nigeria shrank markedly to 885 kg in 2022, dropping by -21% on the previous year's figure. Overall, imports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 182%.
In value terms, imports of nickel; bars, rods, profiles and wires reduced to $81K in 2022. In general, imports continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 260%. As a result, imports attained the peak of $89K, and then dropped in the following year.
| Import of Nickel; Bars, Rods, Profiles and Wire in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Denmark | 56.0 | 15.5 | 32.9 | 22.5 | -26.2% |
| South Korea | N/A | N/A | N/A | 11.5 | 0% |
| India | 1.0 | N/A | 0.5 | 8.4 | 103.3% |
| United Kingdom | 0.2 | N/A | 2.9 | 6.2 | 214.1% |
| China | 5.4 | 1.4 | 34.2 | 6.1 | 4.1% |
| United States | 10.3 | 3.6 | 8.0 | 5.7 | -17.9% |
| Germany | 6.1 | 1.2 | 2.6 | 4.6 | -9.0% |
| Others | 7.3 | 2.8 | 7.6 | 15.9 | 29.6% |
| Total | 86.3 | 24.6 | 88.8 | 80.9 | -2.1% |
Top Suppliers of Nickel; Bars, Rods, Profiles and Wire to Nigeria in 2022:
- India (192.0 kg)
- South Korea (171.0 kg)
- Denmark (148.0 kg)
- United Kingdom (138.0 kg)
- United States (84.0 kg)
- China (60.0 kg)
- Germany (28.0 kg)
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