Price for Steel, Alloy; Semi-Finished Products in Nigeria - 2022
Contents:
- Price for Steel, Alloy; Semi-Finished Products in Nigeria (CIF) - 2022
- Imports of Steel, Alloy; Semi-Finished Products in Nigeria
Price for Steel, Alloy; Semi-Finished Products in Nigeria (CIF) - 2022
In 2022, the average steel, alloy; semi-finished products import price amounted to $5,132 per ton, reducing by -17.1% against the previous year. Over the period under review, the import price, however, showed a strong expansion. The growth pace was the most rapid in 2020 an increase of 80% against the previous year. The import price peaked at $6,193 per ton in 2021, and then shrank remarkably in the following year.
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 the Netherlands ($58,240 per ton), while the price for China ($489 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Steel, Alloy; Semi-Finished Products in Nigeria
Steel, alloy; semi-finished products imports into Nigeria surged to 37 tons in 2022, with an increase of 44% on 2021 figures. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 160% against the previous year. As a result, imports attained the peak of 51 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, steel, alloy; semi-finished products imports soared to $192K in 2022. Overall, imports recorded a significant expansion. The growth pace was the most rapid in 2020 with an increase of 367% against the previous year. As a result, imports reached the peak of $223K. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Steel, Alloy; Semi-Finished Products in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 34.7 | 108 | 64.2 | 99.1 | 41.9% |
| Netherlands | 1.6 | 73.8 | 36.7 | 47.4 | 209.4% |
| United States | 3.6 | 17.1 | 9.0 | 12.3 | 50.6% |
| China | 4.1 | 9.6 | 4.1 | 6.1 | 14.2% |
| Others | 3.8 | 14.5 | 45.9 | 26.7 | 91.5% |
| Total | 47.8 | 223 | 160 | 192 | 59.0% |
Top Suppliers of Steel, Alloy; Semi-Finished Products to Nigeria in 2022:
- United Kingdom (22.2 tons)
- China (12.4 tons)
- United States (1.1 tons)
- Netherlands (0.8 tons)
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