Price for Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria - 2023

Contents:

1. Price for Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria (CIF) - 2022
2. Price for Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria (FOB) - 2022
3. Imports of Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria
4. Exports of Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria

Price for Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria (CIF) - 2022

In 2022, the average import price for alloy steel flat-rolled products, of a width of less than 600mms amounted to $2,142 per ton, jumping by 110% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible curtailment. Over the period under review, average import prices hit record highs at $4,919 per ton in 2013; however, from 2014 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 South Korea ($6,159 per ton), while the price for China ($621 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria (FOB) - 2022

The average export price for alloy steel flat-rolled products, of a width of less than 600mms stood at $5,553 per ton in 2022, rising by 146% against the previous year. Over the period under review, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2020 an increase of 2,031% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($26,297 per ton), while the average price for exports to Niger amounted to $2,602 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+194.4%).

Imports of Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria

In 2022, purchases abroad of alloy steel flat-rolled products, of a width of less than 600mms decreased by -54.8% to 396 tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 2,561% against the previous year. As a result, imports reached the peak of 3.4K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of alloy steel flat-rolled products, of a width of less than 600mms dropped to $849K in 2022. Overall, imports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 1,368%. As a result, imports attained the peak of $2.4M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm to Nigeria in 2022:

1. China (164.0 tons)
2. Turkey (137.8 tons)
3. South Korea (79.4 tons)
4. India (11.6 tons)

Exports of Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm in Nigeria

In 2022, overseas shipments of alloy steel flat-rolled products, of a width of less than 600mms decreased by -48.6% to 514 kg, falling for the second year in a row after two years of growth. Over the period under review, exports saw a dramatic downturn. The pace of growth was the most pronounced in 2020 with an increase of 93%. As a result, the exports reached the peak of 2 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of alloy steel flat-rolled products, of a width of less than 600mms soared to $2.9K in 2022. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 4,017%. As a result, the exports attained the peak of $4.3K. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Alloy Steel Flat-Rolled Products, of A Width of Less than 600mm from Nigeria in 2022:

1. Niger (450.0 kg)
2. United Kingdom (64.0 kg)

Source: IndexBox Market Intelligence Platform