Price for Winding Wire of Copper in Nigeria - 2022
Contents:
- Price for Winding Wire of Copper in Nigeria (CIF) - 2022
- Price for Winding Wire of Copper in Nigeria (FOB) - 2022
- Imports of Winding Wire of Copper in Nigeria
- Exports of Winding Wire of Copper in Nigeria
Price for Winding Wire of Copper in Nigeria (CIF) - 2022
In 2022, the average winding wire of copper import price amounted to $4,057 per ton, growing by 99% against the previous year. Overall, the import price, however, continues to indicate a noticeable shrinkage. The import price peaked at $7,833 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lebanon ($20,347 per ton), while the price for Australia ($3,033 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Winding Wire of Copper in Nigeria (FOB) - 2022
In 2022, the average winding wire of copper export price amounted to $3,127 per ton, reducing by -40.2% against the previous year. Over the period under review, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by 225% against the previous year. As a result, the export price reached the peak level of $8,885 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($111,000 per ton), while the average price for exports to Benin ($863 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+32.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Winding Wire of Copper in Nigeria
In 2022, winding wire of copper imports into Nigeria soared to 855 tons, growing by 28% on 2021 figures. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, winding wire of copper imports soared to $3.5M in 2022. Overall, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Winding Wire of Copper in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 284 | 27.5 | 49.6 | 1,261 | 64.4% |
| Australia | 1,353 | 658 | 790 | 865 | -13.9% |
| India | 112 | 279 | 219 | 787 | 91.5% |
| Belgium | 184 | 212 | 189 | 229 | 7.6% |
| Turkey | 8.2 | 70.1 | 8.9 | 143 | 159.3% |
| Others | 120 | 142 | 107 | 185 | 15.5% |
| Total | 2,062 | 1,387 | 1,364 | 3,470 | 18.9% |
Top Suppliers of Winding Wire of Copper to Nigeria in 2022:
- Australia (285.3 tons)
- China (266.0 tons)
- India (226.9 tons)
- Belgium (30.8 tons)
- Turkey (26.7 tons)
Exports of Winding Wire of Copper in Nigeria
Winding wire of copper exports from Nigeria surged to 346 kg in 2022, growing by 80% compared with the year before. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 138% against the previous year. As a result, the exports reached the peak of 450 kg. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, winding wire of copper exports expanded significantly to $1.1K in 2022. Overall, exports, however, recorded a relatively flat trend pattern.
| Export of Winding Wire of Copper in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 41.0 | 42.0 | 55.0 | 576 | 141.3% |
| Ghana | 427 | 443 | 603 | 257 | -15.6% |
| Benin | 62.0 | 505 | 101 | 138 | 30.6% |
| Kenya | 496 | N/A | N/A | N/A | 0% |
| Others | 59.0 | 169 | 245 | 111 | 23.4% |
| Total | 1,085 | 1,159 | 1,004 | 1,082 | -0.1% |
Top Export Markets for Winding Wire of Copper from Nigeria in 2022:
- Niger (168.0 kg)
- Benin (160.0 kg)
- Ghana (17.0 kg)
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