Price for Zinc; Powders and Flakes in Nigeria - 2022

Price for Zinc; Powders and Flakes in Nigeria (CIF) - 2022

The average zinc; powders and flakes import price stood at $3,109 per ton in 2022, growing by 1.6% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2019 an increase of 68%. Over the period under review, average import prices reached the peak figure at $4,217 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($4,568 per ton), while the price for the UK ($946 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+19.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Zinc; Powders and Flakes in Nigeria (FOB) - 2022

In 2022, the average zinc; powders and flakes export price amounted to $1,120 per ton, increasing by 5.8% against the previous year. Overall, the export price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2013 an increase of 69%. The export price peaked at $3,349 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($1,718 per ton), while the average price for exports to India stood at $221 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-11.6%).

Imports of Zinc; Powders and Flakes in Nigeria

In 2022, the amount of zinc; powders and flakeses imported into Nigeria reduced to 67 tons, waning by -4.8% compared with 2021 figures. The total import volume increased at an average annual rate of +1.1% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year. As a result, imports attained the peak of 71 tons, and then reduced modestly in the following year.

In value terms, zinc; powders and flakes imports dropped modestly to $210K in 2022. The total import value increased at an average annual rate of +11.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 33% against the previous year.

Import of Zinc; Powders and Flakes in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Africa	109	156	167	162	14.1%
China	28.9	33.1	35.5	34.5	6.1%
United Kingdom	12.0	11.9	11.9	10.7	-3.7%
Others	2.5	1.7	2.0	1.9	-8.7%
Total	152	203	217	210	11.4%

Top Suppliers of Zinc; Powders and Flakes to Nigeria in 2022:

South Africa (48.3 tons)
United Kingdom (11.3 tons)
China (7.6 tons)

Exports of Zinc; Powders and Flakes in Nigeria

In 2022, after three years of growth, there was decline in shipments abroad of zinc; powders and flakeses, when their volume decreased by -0.5% to 93 tons. The total export volume increased at an average annual rate of +2.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 5.8% against the previous year.

In value terms, zinc; powders and flakes exports rose sharply to $104K in 2022. Overall, exports showed a pronounced slump.