Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria - 2022
Contents:
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria (CIF) - 2022
- Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria (FOB) - 2022
- Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria
- Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria (CIF) - 2022
The average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels stood at $764 per ton in 2022, picking up by 32% against the previous year. Over the period under review, the import price continues to indicate notable growth. The pace of growth was the most pronounced in 2018 an increase of 141%. As a result, import price reached the peak level of $1,240 per ton. From 2019 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($6,099 per ton), while the price for Cameroon ($131 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+28.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria (FOB) - 2022
In 2022, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $581 per ton, picking up by 13% against the previous year. Overall, the export price, however, saw a noticeable decrease. Over the period under review, the average export prices reached the maximum at $712 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($738 per ton), while the average price for exports to Benin ($41 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 the UK (+0.6%), while the prices for the other major destinations experienced a decline.
Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria
In 2022, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels into Nigeria soared to 1.6K tons, with an increase of 119% on 2021 figures. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 162% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels skyrocketed to $1.2M in 2022. Over the period under review, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 176 | 286 | 97.6 | 867 | 70.2% |
| United States | 0.5 | N/A | N/A | 218 | 658.3% |
| France | N/A | N/A | N/A | 55.2 | 0% |
| United Arab Emirates | N/A | N/A | N/A | 40.0 | 0% |
| Cameroon | N/A | 0.3 | 14.8 | 4.7 | 295.8% |
| Guinea | N/A | N/A | N/A | 3.7 | 0% |
| Canada | N/A | N/A | 162 | 2.8 | -98.3% |
| South Africa | N/A | 149 | N/A | N/A | 0% |
| Others | 18.8 | 12.6 | 145 | 24.8 | 9.7% |
| Total | 195 | 448 | 420 | 1,216 | 84.1% |
Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to Nigeria in 2022:
- China (1345.1 tons)
- France (63.0 tons)
- United Arab Emirates (58.8 tons)
- Cameroon (36.0 tons)
- United States (35.7 tons)
- Guinea (25.0 tons)
- Canada (1.3 tons)
Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria
Exports of ferrous waste and scrap; remelting scrap ingots of iron or steels from Nigeria reduced remarkably to 31 tons in 2022, dropping by -55.7% on the previous year. Overall, exports recorded a dramatic descent.
In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels fell remarkably to $18K in 2022. In general, exports continue to indicate a dramatic downturn.
| Export of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Netherlands | 24.2 | 9.0 | -62.8% | ||
| India | 9.4 | 6.2 | -34.0% | ||
| Germany | 0.7 | 2.1 | 200.0% | ||
| China | N/A | 0.1 | 0% | ||
| Niger | 0.3 | 0.1 | -66.7% | ||
| Benin | 0.2 | 0.1 | -50.0% | ||
| Others | 0.7 | 0.1 | -85.7% | ||
| Total | 35.5 | 17.8 | -49.9% | ||
Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from Nigeria in 2022:
- Netherlands (12.6 tons)
- India (11.3 tons)
- Germany (2.8 tons)
- Benin (1.8 tons)
- Niger (0.8 tons)
- China (0.7 tons)
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This report provides an in-depth analysis of the market for metal remelting scrap ingots in Nigeria.
672
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
530
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Nigeria.
672
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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