Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Nigeria - 2023
Contents:
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Nigeria (CIF) - 2022
- Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Nigeria
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Nigeria (CIF) - 2022
The average import price for iron or non-alloy steel wire, not plated or coateds stood at $1,433 per ton in 2022, surging by 122% against the previous year. In general, the import price continues to indicate a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
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 China ($2,524 per ton), while the price for the United States ($643 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+211.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Nigeria
In 2022, imports of iron or non-alloy steel wire, not plated or coateds into Nigeria declined significantly to 183 tons, waning by -80% compared with 2021 figures. In general, imports saw a sharp decrease. The pace of growth appeared the most rapid in 2021 with an increase of 90% against the previous year. As a result, imports attained the peak of 917 tons, and then shrank markedly in the following year.
In value terms, imports of iron or non-alloy steel wire, not plated or coateds declined notably to $262K in 2022. Over the period under review, imports continue to indicate a significant contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 2.8%.
| Import of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Greece | N/A | N/A | 154 | 95.0 | -38.3% |
| China | 375 | 483 | 14.8 | 80.9 | -40.0% |
| Turkey | 130 | 49.6 | 15.2 | 36.7 | -34.4% |
| Qatar | N/A | N/A | N/A | 29.0 | 0% |
| India | N/A | N/A | N/A | 15.8 | 0% |
| United States | 23.0 | N/A | 9.1 | 4.7 | -41.1% |
| Spain | 38.8 | 42.0 | N/A | N/A | 8.2% |
| Germany | 46.8 | 1.0 | 91.0 | N/A | 39.4% |
| Singapore | N/A | N/A | 308 | N/A | 0% |
| Others | 22.3 | 1.6 | 1.5 | 0.1 | -83.5% |
| Total | 636 | 577 | 593 | 262 | -25.6% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Not Plated or Coated to Nigeria in 2022:
- Greece (75.5 tons)
- China (32.0 tons)
- Turkey (27.0 tons)
- India (22.8 tons)
- Qatar (18.2 tons)
- United States (7.4 tons)
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