Price for Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria - 2023
Contents:
- Price for Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria (CIF) - 2022
- Price for Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria (FOB) - 2022
- Imports of Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria
- Exports of Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria
Price for Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria (CIF) - 2022
The average import price for steel, stainless; (excluding cold-drawn or cold-rolled), tubes and pipes of circular cross-sectia stood at $2,877 per ton in 2022, declining by -43% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 153%. As a result, import price attained the peak level of $8,030 per ton. From 2015 to 2022, the average 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 the United States ($10,506 per ton), while the price for France ($772 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria (FOB) - 2022
The average export price for steel, stainless; (excluding cold-drawn or cold-rolled), tubes and pipes of circular cross-sectia stood at $9,966 per ton in 2022, picking up by 475% against the previous year. Overall, the export price, however, continues to indicate a pronounced contraction. The growth pace was the most rapid in 2017 an increase of 1,148% against the previous year. The export price peaked at $20,503 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($1,567,000 per ton), while the average price for exports to Benin ($1,092 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 Ghana (+121.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria
In 2022, approx. 159 tons of steel, stainless; (excluding cold-drawn or cold-rolled), tubes and pipes of circular cross-sectia were imported into Nigeria; growing by 67% on the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 216% against the previous year. As a result, imports attained the peak of 509 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of steel, stainless; (excluding cold-drawn or cold-rolled), tubes and pipes of circular cross-sectia contracted to $456K in 2022. Overall, imports posted a mild expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 241% against the previous year. As a result, imports reached the peak of $1.5M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 384 | 334 | 1.8 | 205 | -18.9% |
| Malaysia | N/A | N/A | N/A | 85.6 | 0% |
| United States | 26.6 | 274 | 294 | 58.3 | 29.9% |
| Mexico | N/A | N/A | N/A | 49.3 | 0% |
| France | 7.4 | N/A | N/A | 13.3 | 21.6% |
| Belgium | N/A | 4.2 | 3.5 | 7.0 | 29.1% |
| Spain | N/A | 12.2 | 39.5 | 5.1 | -35.3% |
| Slovakia | N/A | 69.0 | 2.7 | 2.8 | -79.9% |
| India | N/A | 477 | 13.8 | 0.9 | -95.7% |
| Japan | N/A | 125 | N/A | N/A | 0% |
| Democratic People's Republic of Korea | N/A | N/A | 94.7 | N/A | 0% |
| Others | 20.8 | 201 | 30.2 | 29.3 | 12.1% |
| Total | 439 | 1,496 | 480 | 456 | 1.3% |
Top Suppliers of Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section to Nigeria in 2022:
- China (95.7 tons)
- France (17.2 tons)
- Mexico (16.7 tons)
- Malaysia (11.6 tons)
- Belgium (6.5 tons)
- United States (5.6 tons)
- Slovakia (1.0 tons)
- Spain (1.0 tons)
- India (0.4 tons)
Exports of Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria
In 2022, overseas shipments of steel, stainless; (excluding cold-drawn or cold-rolled), tubes and pipes of circular cross-sectia decreased by -59.2% to 357 kg, falling for the second consecutive year after two years of growth. In general, exports faced a sharp curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 448% against the previous year. As a result, the exports attained the peak of 5.5 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of steel, stainless; (excluding cold-drawn or cold-rolled), tubes and pipes of circular cross-sectia surged to $3.6K in 2022. Over the period under review, exports recorded a abrupt setback.
| Export of Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 6.2 | 3.1 | 0.8 | 0.4 | -59.9% |
| Niger | N/A | N/A | 0.8 | 0.1 | -87.5% |
| Others | 0.2 | N/A | N/A | 3.1 | 149.3% |
| Total | 6.4 | 3.1 | 1.5 | 3.6 | -17.5% |
Top Export Markets for Steel, Stainless; (Excluding Cold-Drawn or Cold-Rolled), Tubes and Pipes of Circular Cross-Section from Nigeria in 2022:
- Benin (325.0 kg)
- Niger (30.0 kg)
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