Price for Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria - 2023
Contents:
- Price for Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria (CIF) - 2022
- Price for Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria (FOB) - 2022
- Imports of Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria
- Exports of Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria
Price for Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria (CIF) - 2022
The average import price for steel alloy wire of materials other than silico-manganese steels stood at $3,246 per ton in 2022, growing by 234% against the previous year. In general, the import price, however, showed a mild decrease. The most prominent rate of growth was recorded in 2018 an increase of 4,490% against the previous year. As a result, import price reached the peak level of $67,348 per ton. From 2019 to 2022, the average import prices remained at a lower figure.
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 ($29,446 per ton), while the price for the United Arab Emirates ($2,065 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+41.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria (FOB) - 2022
The average export price for steel alloy wire of materials other than silico-manganese steels stood at $2,606 per ton in 2022, flattening at the previous year. Overall, the export price continues to indicate significant growth. The most prominent rate of growth was recorded in 2019 an increase of 86%. The export price peaked in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niger ($4,018 per ton), while the average price for exports to Angola ($425 per ton) was amongst the lowest.
From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+64.8%).
Imports of Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria
In 2022, supplies from abroad of steel alloy wire of materials other than silico-manganese steels decreased by -31.8% to 148 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 1,221% against the previous year. As a result, imports reached the peak of 217 tons, and then contracted remarkably in the following year.
In value terms, imports of steel alloy wire of materials other than silico-manganese steels skyrocketed to $480K in 2022. Overall, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 768%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
| Import of Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | 0.5 | 63.3 | 273 | 2236.7% |
| Austria | N/A | 1.7 | 0.7 | 97.6 | 657.7% |
| United Arab Emirates | N/A | N/A | 29.6 | 75.2 | 154.1% |
| United Kingdom | 3.9 | N/A | N/A | 10.0 | 36.9% |
| India | 0.2 | 22.1 | 1.6 | 3.8 | 166.8% |
| Switzerland | N/A | N/A | 104 | N/A | 0% |
| Others | 7.7 | N/A | 10.8 | 19.7 | 36.8% |
| Total | 11.8 | 24.2 | 210 | 480 | 243.9% |
Top Suppliers of Steel Alloy Wire of Materials Other than Silico-Manganese Steel to Nigeria in 2022:
- China (101.1 tons)
- United Arab Emirates (36.4 tons)
- Austria (6.4 tons)
- United Kingdom (1.5 tons)
- India (0.4 tons)
Exports of Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria
In 2022, after two years of decline, there was decline in shipments abroad of steel alloy wire of materials other than silico-manganese steels, when their volume decreased by 0% to 359 kg. Over the period under review, exports showed a precipitous contraction. The smallest decline of 99.9% was in 2020.
In value terms, exports of steel alloy wire of materials other than silico-manganese steels amounted to $935 in 2022. Overall, exports recorded a sharp reduction. The smallest decline of 99.9% was in 2020.
| Export of Steel Alloy Wire of Materials Other than Silico-Manganese Steel in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | N/A | N/A | N/A | 0.7 | 0% |
| Niger | N/A | N/A | N/A | 0.3 | 0% |
| Mali | 10.9 | N/A | N/A | N/A | 0% |
| Poland | 14.1 | N/A | N/A | N/A | 0% |
| Angola | N/A | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 25.0 | N/A | N/A | 0.9 | -67.0% |
Top Export Markets for Steel Alloy Wire of Materials Other than Silico-Manganese Steel from Nigeria in 2022:
- Benin (250.0 kg)
- Niger (65.0 kg)
- Angola (44.0 kg)
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