Price for Refined Copper Tube and Pipe in Nigeria - 2022
Contents:
- Price for Refined Copper Tube and Pipe in Nigeria (CIF) - 2022
- Price for Refined Copper Tube and Pipe in Nigeria (FOB) - 2022
- Imports of Refined Copper Tube and Pipe in Nigeria
- Exports of Refined Copper Tube and Pipe in Nigeria
Price for Refined Copper Tube and Pipe in Nigeria (CIF) - 2022
The average import price for tubes and pipes of refined copper stood at $2,066 per ton in 2022, which is down by -5.4% against the previous year. Over the period under review, the import price saw a perceptible decline. The most prominent rate of growth was recorded in 2016 an increase of 56% against the previous year. The import price peaked at $7,809 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Greece ($2,893 per ton), while the price for India ($753 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-2.3%), while the prices for the other major suppliers experienced a decline.
Price for Refined Copper Tube and Pipe in Nigeria (FOB) - 2022
In 2022, the average export price for tubes and pipes of refined copper amounted to $11,171 per ton, with an increase of 26% against the previous year. In general, the export price showed a strong expansion. The pace of growth was the most pronounced in 2021 an increase of 360% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($14,702 per ton), while the average price for exports to Ghana stood at $1,175 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+158.4%).
Imports of Refined Copper Tube and Pipe in Nigeria
Refined copper tube and pipe imports into Nigeria reached 135 tons in 2022, surging by 6.9% against 2021 figures. Over the period under review, imports saw buoyant growth. The growth pace was the most rapid in 2020 with an increase of 129%. As a result, imports reached the peak of 239 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, refined copper tube and pipe imports reached $280K in 2022. Overall, imports, however, saw a precipitous slump. The growth pace was the most rapid in 2020 when imports increased by 30% against the previous year. As a result, imports attained the peak of $711K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Refined Copper Tube and Pipe in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 184 | 296 | 206 | 202 | 3.2% |
| Singapore | 46.2 | 49.2 | 16.4 | 19.2 | -25.4% |
| China | 16.1 | 198 | 18.1 | 17.5 | 2.8% |
| Germany | 16.4 | 9.6 | 8.6 | 9.0 | -18.1% |
| Greece | 29.7 | 26.5 | 7.5 | 7.4 | -37.1% |
| Italy | 19.5 | 25.2 | 5.5 | 3.9 | -41.5% |
| India | 117 | 1.7 | 0.2 | 0.1 | -90.5% |
| Others | 115 | 105 | 14.6 | 20.2 | -44.0% |
| Total | 545 | 711 | 277 | 280 | -19.9% |
Top Suppliers of Refined Copper Tube and Pipe to Nigeria in 2022:
- South Africa (88.7 tons)
- China (22.8 tons)
- Singapore (9.7 tons)
- Germany (4.1 tons)
- Italy (2.5 tons)
- Greece (2.5 tons)
- India (0.2 tons)
Exports of Refined Copper Tube and Pipe in Nigeria
In 2022, exports of tubes and pipes of refined copper from Nigeria reduced rapidly to 590 kg, with a decrease of -58.3% on 2021. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 317% against the previous year. As a result, the exports reached the peak of 1.4 tons, and then declined significantly in the following year.
In value terms, refined copper tube and pipe exports declined sharply to $6.6K in 2022. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 1,819%. As a result, the exports attained the peak of $13K, and then dropped markedly in the following year.
| Export of Refined Copper Tube and Pipe in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | N/A | 0.3 | 11.8 | 6.4 | 361.9% |
| Ghana | 1.0 | 0.4 | 0.7 | 0.2 | -41.5% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 1.0 | 0.7 | 12.5 | 6.6 | 87.6% |
Top Export Markets for Refined Copper Tube and Pipe from Nigeria in 2022:
- Benin (436.0 kg)
- Ghana (154.0 kg)
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