Nigeria: Mercury Market 2022

Mercury Market Size in Nigeria

In 2021, the Nigerien mercury market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption recorded significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Mercury Production in Nigeria

In value terms, mercury production declined dramatically to $X in 2021 estimated in export price. Over the period under review, production recorded a significant curtailment. Mercury production peaked at $X in 2020, and then reduced sharply in the following year.

Mercury Exports

Exports from Nigeria

Mercury exports from Nigeria dropped significantly to less than X kg in 2021, reducing by -X% against 2020. Overall, exports continue to indicate a relatively flat trend pattern. The exports peaked at X tonnes in 2020, and then fell sharply in the following year.

In value terms, mercury exports shrank rapidly to $less than X in 2021. In general, exports saw a relatively flat trend pattern. The exports peaked at $X in 2020, and then dropped dramatically in the following year.

Exports by Country

China (X tonnes) was the main destination for mercury exports from Nigeria, accounting for a approx. X% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to China was relatively modest.

From 2012 to 2020, the average annual growth rate of value to China was relatively modest.

Export Prices by Country

The average mercury export price stood at $X per tonne in 2020, therefore, remained relatively stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The export price peaked in 2020 and is likely to see steady growth in years to come.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2020, the rate of growth in terms of prices for China amounted to X% per year.

Mercury Imports

Imports into Nigeria

In 2021, purchases abroad of mercuries was finally on the rise to reach X kg for the first time since 2018, thus ending a two-year declining trend. Overall, imports posted prominent growth. The growth pace was the most rapid in 2018 with an increase of X%. As a result, imports attained the peak of X kg. From 2019 to 2021, the growth imports remained at a somewhat lower figure.

In value terms, mercury imports soared to $X in 2021. Over the period under review, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth imports remained at a lower figure.

Imports by Country

In 2021, the United States (X kg) constituted the largest mercury supplier to Nigeria, with a X% share of total imports. Moreover, mercury imports from the United States exceeded the figures recorded by the second-largest supplier, India (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +X%.

In value terms, the United States ($X) constituted the largest supplier of mercury to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +X%.

Import Prices by Country

In 2021, the average mercury import price amounted to $X per tonne, picking up by X% against the previous year. Overall, the import price, however, showed a slight reduction. The pace of growth appeared the most rapid in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was India ($X per tonne), while the price for the United States amounted to $X per tonne.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+X%).

Source: IndexBox Platform