Price for Nickel; Waste and Scrap in Nigeria - 2022

Price for Nickel; Waste and Scrap in Nigeria (FOB) - 2022

In 2022, the average nickel; waste and scrap export price amounted to $16,263 per ton, picking up by 46% against the previous year. Overall, the export price recorded strong growth. The growth pace was the most rapid in 2019 an increase of 68% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

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 Germany ($17,955 per ton), while the average price for exports to the UK ($9,241 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 the UK (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Exports of Nickel; Waste and Scrap in Nigeria

In 2022, nickel; waste and scrap exports from Nigeria skyrocketed to 27 tons, rising by 200% on the year before. Over the period under review, exports, however, recorded a abrupt shrinkage.

In value terms, nickel; waste and scrap exports skyrocketed to $435K in 2022. In general, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Nickel; Waste and Scrap in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	99.5	40.2	65.0	369	54.8%
Netherlands	99.1	7.1	18.1	41.6	-25.1%
United Kingdom	18.7	16.3	16.2	24.6	9.6%
India	38.6	N/A	N/A	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	256	63.6	99.3	435	19.3%