Price for Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria - 2023

Contents:

1. Price for Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria (CIF) - 2022
2. Price for Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria (FOB) - 2022
3. Imports of Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria
4. Exports of Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria

Price for Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria (CIF) - 2022

The average import price for stainless steel, flat-rolled, width less than 600mm, cold-rolleds stood at $1,903 per ton in 2022, falling by -31.1% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 33% against the previous year. Over the period under review, average import prices attained the peak figure at $3,185 per ton in 2016; however, from 2017 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 France ($12,409 per ton), while the price for Italy ($258 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+34.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria (FOB) - 2022

The average export price for stainless steel, flat-rolled, width less than 600mm, cold-rolleds stood at $2,305 per ton in 2021, shrinking by -26.5% against the previous year. Overall, export price indicated a notable increase from 2015 to 2021: its price increased at an average annual rate of +2.2% over the last six years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for stainless steel, flat-rolled, width less than 600mm, cold-rolleds increased by +55.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 111%. As a result, the export price reached the peak level of $3,136 per ton, and then declined rapidly in the following year.

As there is only one major export destination, the average price level is determined by prices for Botswana.

From 2015 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to 0.0% per year.

Imports of Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria

In 2022, purchases abroad of stainless steel, flat-rolled, width less than 600mm, cold-rolleds was finally on the rise to reach 39 tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of stainless steel, flat-rolled, width less than 600mm, cold-rolleds contracted markedly to $74K in 2022. Over the period under review, imports, however, saw a abrupt decline. The smallest decline of -3.7% was in 2021.

Top Suppliers of Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled to Nigeria in 2022:

1. China (23.2 tons)
2. United Kingdom (7.0 tons)
3. United Arab Emirates (3.0 tons)
4. Vietnam (2.0 tons)
5. Germany (1.8 tons)
6. Italy (0.8 tons)
7. India (0.3 tons)

Exports of Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled in Nigeria

Exports of stainless steel, flat-rolled, width less than 600mm, cold-rolleds from Nigeria amounted to 236 kg in 2022, stabilizing at the previous year. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 0.4%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, exports of stainless steel, flat-rolled, width less than 600mm, cold-rolleds soared to $642 in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 112%. As a result, the exports reached the peak of $740. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Stainless Steel, Flat-Rolled, Width Less than 600mm, Cold-Rolled from Nigeria in 2022:

1. Botswana (236.0 kg)

Source: IndexBox Market Intelligence Platform