Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in Nigeria - 2022
Contents:
- Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in Nigeria (CIF) - 2022
- Imports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in Nigeria
Price for Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in Nigeria (CIF) - 2022
The average import price for aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses stood at $2,360 per ton in 2022, which is down by -1.9% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses decreased by -25.0% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 106%. The import price peaked at $3,148 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.
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 India ($3,259 per ton), while the price for China stood at $782 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%).
Imports of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in Nigeria
Imports of aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses into Nigeria soared to 136 tons in 2022, with an increase of 169% on the year before. In general, imports showed a significant increase. The growth pace was the most rapid in 2020 when imports increased by 240% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of aluminium; alloys, wire, maximum cross-sectional dimension is 7mm or lesses skyrocketed to $320K in 2022. Over the period under review, imports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 164%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 28.8 | 131 | 100 | 243 | 103.6% |
| China | 9.8 | 6.2 | 0.6 | 45.2 | 66.5% |
| Others | 22.1 | 23.6 | 20.8 | 32.0 | 13.1% |
| Total | 60.8 | 161 | 121 | 320 | 73.9% |
Top Suppliers of Aluminium; Alloys, Wire, Maximum Cross-Sectional Dimension Is 7mm or Less to Nigeria in 2022:
- India (74.5 tons)
- China (57.8 tons)
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