Sulphates; of Nickel Price in Nigeria - 2022
Contents:
Sulphates; of Nickel Price in Nigeria (CIF) - 2022
In 2022, the average sulphates; of nickel import price amounted to $12,336 per ton, shrinking by -5.6% against the previous year. Overall, the import price, however, enjoyed temperate growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 90% against the previous year. The import price peaked at $13,329 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Germany.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to +10.0% per year.
Sulphates; of Nickel Imports in Nigeria
In 2022, overseas purchases of sulphates; of nickels decreased by -53.3% to 2.7 tons, falling for the second year in a row after two years of growth. Overall, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2020 when imports increased by 172%. As a result, imports reached the peak of 8.9 tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, sulphates; of nickel imports reduced rapidly to $33K in 2022. In general, imports, however, enjoyed pronounced growth. The growth pace was the most rapid in 2020 when imports increased by 298% against the previous year. As a result, imports reached the peak of $118K. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Sulphates; of Nickel in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 8.8 | 71.8 | 34.9 | 33.3 | 55.8% |
| Singapore | 5.8 | 11.7 | 9.1 | N/A | 25.3% |
| China | 14.7 | 34.6 | 31.4 | N/A | 46.2% |
| Others | 0.5 | N/A | 0.2 | N/A | -36.8% |
| Total | 29.7 | 118 | 75.7 | 33.3 | 3.9% |
Top Suppliers of Sulphates; of Nickel to Nigeria in 2022:
- Germany (2.7 tons)
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