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Nigeria - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights
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Nigeria: Overview of the Market for Iron Ores And Concentrates 2021

Market Size for Iron Ores And Concentrates in Nigeria

In 2020, the Nigerien iron ore and concentrate market increased by X% to $X, rising for the fourth consecutive year after five years of decline. Overall, consumption recorded a mild reduction. The most prominent rate of growth was recorded in 2011 when the market value increased by X% against the previous year. As a result, consumption reached the peak level of $X. From 2012 to 2020, the growth of the market remained at a somewhat lower figure.

Production of Iron Ores And Concentrates in Nigeria

In value terms, iron ore and concentrate production surged to $X in 2020 estimated in export prices. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% year-to-year. As a result, production reached the peak level of $X. From 2012 to 2020, production growth remained at a lower figure.

Exports of Iron Ores And Concentrates

Exports from Nigeria

In 2020, after two years of growth, there was significant decline in shipments abroad of iron ores and concentrates, when their volume decreased by -X% to X tonnes. In general, exports showed a significant decrease. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. As a result, exports reached the peak of X tonnes. From 2014 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, iron ore and concentrate exports expanded slightly to $X in 2020. Over the period under review, exports faced a sharp contraction. The growth pace was the most rapid in 2013 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. From 2014 to 2020, the growth exports remained at a lower figure.

Exports by Country

China (X tonnes) was the main destination for iron ore and concentrate exports from Nigeria, with a X% share of total exports. Moreover, iron ore and concentrate exports to China exceeded the volume sent to the second major destination, South Africa (X tonnes), ninefold.

From 2007 to 2020, the average annual rate of growth in terms of volume to China amounted to +X%.

In value terms, China ($X) remains the key foreign market for iron ore and concentrate exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by South Africa ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to China amounted to +X%.

Export Prices by Country

In 2020, the average iron ore and concentrate export price amounted to $X per tonne, increasing by X% against the previous year. Overall, the export price showed a moderate expansion. The pace of growth was the most pronounced in 2009 when the average export price increased by X% y-o-y. As a result, export price attained the peak level of $X per tonne. From 2010 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was China ($X per tonne), while the average price for exports to South Africa totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to China.

Imports of Iron Ores And Concentrates

Imports into Nigeria

In 2020, overseas purchases of iron ores and concentrates decreased by -X% to X tonnes, falling for the twelfth year in a row after two years of growth. In general, imports saw a precipitous decline. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. As a result, imports attained the peak of X tonnes. From 2009 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, iron ore and concentrate imports shrank remarkably to $X in 2020. Over the period under review, imports faced a precipitous decline. The most prominent rate of growth was recorded in 2008 when imports increased by X% y-o-y. As a result, imports reached the peak of $X. From 2009 to 2020, the growth imports remained at a lower figure.

Imports by Country

In 2020, Brazil (X tonnes) was the main iron ore and concentrate supplier to Nigeria, accounting for a approx. X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of volume from Brazil stood at -X%.

In value terms, Brazil ($X) constituted the largest supplier of iron ore and concentrate to Nigeria.

From 2007 to 2020, the average annual rate of growth in terms of value from Brazil totaled -X%.

Import Prices by Country

The average iron ore and concentrate import price stood at $X per tonne in 2020, dropping by -X% against the previous year. In general, the import price, however, posted a resilient expansion. The pace of growth was the most pronounced in 2011 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2012; however, from 2013 to 2020, import prices failed to regain the momentum.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2007 to 2020, the rate of growth in terms of prices for Brazil amounted to +X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron ores and concentrates in the world?
+
China (1,493M tonnes) constituted the country with the largest volume of iron ore and concentrate consumption, accounting for 61% of total volume. Moreover, iron ore and concentrate consumption in China exceeded the figures recorded by the second-largest consumer, India (178M tonnes), eightfold. The third position in this ranking was occupied by Brazil (106M tonnes), with a 4.4% share.
What are the largest producers of iron ores and concentrates in the world?
+
Australia (900M tonnes) constituted the country with the largest volume of iron ore and concentrate production, accounting for 37% of total volume. Moreover, iron ore and concentrate production in Australia exceeded the figures recorded by the second-largest producer, Brazil (400M tonnes), twofold. China (340M tonnes) ranked third in terms of total production with a 14% share.
What are the leading suppliers of iron ores and concentrates to Nigeria?
+
In value terms, Brazil ($28K) constituted the largest supplier of iron ore and concentrate to Nigeria.
What are the leading importers of iron ores and concentrates from Nigeria?
+
In value terms, China ($19K) remains the key foreign market for iron ore and concentrate exports from Nigeria, comprising 91% of total exports. The second position in the ranking was occupied by South Africa ($955), with a 4.7% share of total exports.
What is the average export price for iron ores and concentrates in Nigeria?
+
In 2020, the average iron ore and concentrate export price amounted to $165 per tonne, growing by 29% against the previous year.
What is the average import price for iron ores and concentrates in Nigeria?
+
The average iron ore and concentrate import price stood at $441 per tonne in 2020, with a decrease of -7.4% against the previous year.

Product coverage:

This report provides an in-depth analysis of the market for iron ore and concentrate in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Nigeria

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Nigeria
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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