Price for Zinc; Plates, Sheets, Strip and Foil in Nigeria - 2023

Contents:

1. Price for Zinc; Plates, Sheets, Strip and Foil in Nigeria (CIF) - 2022
2. Price for Zinc; Plates, Sheets, Strip and Foil in Nigeria (FOB) - 2022
3. Imports of Zinc; Plates, Sheets, Strip and Foil in Nigeria
4. Exports of Zinc; Plates, Sheets, Strip and Foil in Nigeria

Price for Zinc; Plates, Sheets, Strip and Foil in Nigeria (CIF) - 2022

In 2022, the average import price for zinc; plates, sheets, strip and foils amounted to $385 per ton, increasing by 19% against the previous year. Overall, the import price, however, showed a deep slump. The most prominent rate of growth was recorded in 2014 when the average import price increased by 292% against the previous year. Over the period under review, average import prices attained the maximum at $3,761 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kenya ($4,063 per ton), while the price for China ($187 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-8.1%).

Price for Zinc; Plates, Sheets, Strip and Foil in Nigeria (FOB) - 2022

In 2021, the average export price for zinc; plates, sheets, strip and foils amounted to $412 per ton, dropping by -91.9% against the previous year. Over the period under review, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 246% against the previous year. Over the period under review, the average export prices hit record highs at $5,075 per ton in 2020, and then reduced markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cameroon ($1,410 per ton), while the average price for exports to Gabon ($350 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (+3.5%).

Imports of Zinc; Plates, Sheets, Strip and Foil in Nigeria

In 2022, supplies from abroad of zinc; plates, sheets, strip and foils increased by 463% to 3.3K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports recorded prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of zinc; plates, sheets, strip and foils soared to $1.3M in 2022. Over the period under review, imports, however, saw a perceptible decrease.

Top Suppliers of Zinc; Plates, Sheets, Strip and Foil to Nigeria in 2022:

1. China (2994.0 tons)
2. Kenya (104.3 tons)
3. Egypt (94.3 tons)
4. South Africa (50.9 tons)

Exports of Zinc; Plates, Sheets, Strip and Foil in Nigeria

In 2021, exports of zinc; plates, sheets, strip and foils from Nigeria surged to 1.6 tons, with an increase of 49% compared with the year before. In general, total exports indicated a significant increase from 2020 to 2021: its volume increased at an average annual rate of +49.4% over the last one years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of zinc; plates, sheets, strip and foils surged to $660 in 2021. The total export value increased at an average annual rate of +29.9% over the period from 2020 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Zinc; Plates, Sheets, Strip and Foil from Nigeria in 2022:

1. Niger (974.0 kg)
2. Gabon (548.0 kg)
3. Cameroon (78.0 kg)

Source: IndexBox Market Intelligence Platform