Sulphates; of Copper Price in Nigeria - 2022
Contents:
Sulphates; of Copper Price in Nigeria (CIF) - 2022
The average sulphates; of copper import price stood at $2,274 per ton in 2022, jumping by 29% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 43% against the previous year. The import price peaked at $2,318 per ton in 2014; afterwards, it flattened through to 2022.
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 Russia ($5,952 per ton), while the price for India ($1,034 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 Arab Emirates (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Sulphates; of Copper Imports in Nigeria
For the third year in a row, Nigeria recorded decline in purchases abroad of sulphates; of coppers, which decreased by -25.1% to 161 tons in 2022. In general, imports faced a sharp contraction. The smallest decline of -21.5% was in 2020.
In value terms, sulphates; of copper imports shrank to $365K in 2022. Overall, imports showed a dramatic decline. The most prominent rate of growth was recorded in 2020 when imports increased by 12% against the previous year. As a result, imports reached the peak of $1.2M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Sulphates; of Copper in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 299 | 300 | 160 | 127 | -24.8% |
| Taiwan (Chinese) | 126 | 325 | 22.6 | 54.9 | -24.2% |
| China | 236 | 95.7 | 39.4 | 29.4 | -50.1% |
| Russia | 42.9 | 76.4 | 36.5 | 26.1 | -15.3% |
| Germany | 24.3 | 53.4 | 17.1 | 23.0 | -1.8% |
| Hong Kong SAR | 145 | 33.0 | 1.0 | 18.6 | -49.6% |
| Poland | 46.6 | 44.7 | 24.9 | 17.8 | -27.4% |
| United States | 35.9 | 27.5 | 11.2 | 6.8 | -42.6% |
| Spain | 10.7 | 11.5 | 6.6 | 5.6 | -19.4% |
| India | 1.3 | 1.3 | 3.7 | 2.6 | 26.0% |
| Peru | N/A | 151 | N/A | N/A | 0% |
| Others | 118 | 101 | 56.0 | 53.5 | -23.2% |
| Total | 1,086 | 1,220 | 379 | 365 | -30.5% |
Top Suppliers of Sulphates; of Copper to Nigeria in 2022:
- United Arab Emirates (67.0 tons)
- China (21.2 tons)
- Taiwan (Chinese) (17.8 tons)
- Hong Kong SAR (16.4 tons)
- Poland (6.0 tons)
- Germany (5.9 tons)
- Russia (4.4 tons)
- United States (3.6 tons)
- Spain (3.6 tons)
- India (2.5 tons)
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