Price for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria - 2023
Contents:
- Price for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria (CIF) - 2022
- Price for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria (FOB) - 2022
- Imports of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria
- Exports of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria
Price for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria (CIF) - 2022
In 2022, the average import price for steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia amounted to $4,682 per ton, waning by -19.8% against the previous year. Over the period under review, the import price recorded a pronounced curtailment. The pace of growth was the most pronounced in 2014 an increase of 472% against the previous year. As a result, import price attained the peak level of $13,306 per ton. From 2015 to 2022, the average import prices remained at a somewhat 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 the United States ($78,764 per ton), while the price for the Netherlands ($2,852 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria (FOB) - 2022
The average export price for steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia stood at $60,500 per ton in 2020, falling by -14.7% against the previous year. Over the period under review, the export price, however, saw a significant increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 12,095%. Over the period under review, the average export prices hit record highs at $70,889 per ton in 2019, and then shrank in the following year.
As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.
From 2012 to 2020, the rate of growth in terms of prices for Niger amounted to +21.7% per year.
Imports of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria
In 2022, the amount of steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia imported into Nigeria expanded remarkably to 599 tons, surging by 13% on the previous year. The total import volume increased at an average annual rate of +9.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 40%. As a result, imports attained the peak of 640 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia reduced to $2.8M in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +24.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 69%.
Import of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 229 | 1,073 | 479 | 1,568 | 89.9% |
India | 623 | 842 | 2,346 | 618 | -0.3% |
Netherlands | N/A | 0.2 | N/A | 291 | 3714.4% |
France | 240 | 10.7 | 39.7 | 32.6 | -48.6% |
Italy | 114 | 303 | 1.1 | 20.2 | -43.8% |
Romania | N/A | 140 | N/A | N/A | 0% |
Others | 262 | 116 | 230 | 274 | 1.5% |
Total | 1,468 | 2,484 | 3,096 | 2,804 | 24.1% |
Top Suppliers of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section to Nigeria in 2022:
- China (317.7 tons)
- India (160.4 tons)
- Netherlands (102.2 tons)
- France (4.0 tons)
- Italy (3.7 tons)
Exports of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria
Exports of steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia from Nigeria contracted dramatically to 4 kg in 2020, dropping by -55.6% compared with the year before. Over the period under review, exports faced a sharp slump.
In value terms, exports of steel, stainless; cold-drawn or cold-rolled, tubes and pipes of circular cross-sectia fell dramatically to $242 in 2020. In general, exports recorded a dramatic decrease.
Export of Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section in Nigeria (USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | CAGR, 2019-2020 | ||
Cote d'Ivoire | 638 | 242 | -62.1% | ||
Others | N/A | N/A | 0% | ||
Total | 638 | 242 | -62.1% |
Top Export Markets for Steel, Stainless; Cold-Drawn or Cold-Rolled, Tubes and Pipes of Circular Cross-Section from Nigeria in 2022:
- Cote d'Ivoire (4.0 kg)
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