Price for Vanadium Oxides and Hydroxides in Nigeria - 2022
Contents:
- Price for Vanadium Oxides and Hydroxides in Nigeria (CIF) - 2022
- Imports of Vanadium Oxides and Hydroxides in Nigeria
Price for Vanadium Oxides and Hydroxides in Nigeria (CIF) - 2022
The average vanadium oxides and hydroxides import price stood at $49,712 per ton in 2022, reducing by -2.8% against the previous year. In general, the import price showed a mild contraction. The pace of growth appeared the most rapid in 2019 an increase of 74%. Over the period under review, average import prices reached the maximum at $64,467 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for the Netherlands.
From 2012 to 2022, the rate of growth in terms of prices for the Netherlands amounted to -1.2% per year.
Imports of Vanadium Oxides and Hydroxides in Nigeria
Vanadium oxides and hydroxides imports into Nigeria surged to 1.2 tons in 2022, growing by 20% compared with 2021 figures. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.3% 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 +53.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, vanadium oxides and hydroxides imports surged to $62K in 2022. The total import value increased at an average annual rate of +11.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Vanadium Oxides and Hydroxides in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 44.9 | 48.6 | 52.6 | 61.5 | 11.1% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 44.9 | 48.6 | 52.6 | 61.5 | 11.1% |
Top Suppliers of Vanadium Oxides and Hydroxides to Nigeria in 2022:
- Netherlands (1.2 tons)
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