Price for Nickel Mattes; Nickel Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in Nigeria - 2022

Price for Nickel Mattes; Nickel Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in Nigeria (CIF) - 2022

The average import price for nickel mattes; nickel oxide sinters and other intermediate products of nickel metallurgies stood at $5,722 per ton in 2022, leveling off at the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for nickel mattes; nickel oxide sinters and other intermediate products of nickel metallurgies increased by +2.0% against 2017 indices. The pace of growth appeared the most rapid in 2014 an increase of 84% against the previous year. As a result, import price attained the peak level of $8,647 per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +5.0% per year.

Imports of Nickel Mattes; Nickel Oxide Sinters and Other Intermediate Products of Nickel Metallurgy in Nigeria

For the third consecutive year, Nigeria recorded decline in overseas purchases of nickel mattes; nickel oxide sinters and other intermediate products of nickel metallurgies, which decreased by -14.3% to 54 kg in 2022. In general, imports showed a deep reduction. The smallest decline of -13.7% was in 2021.

In value terms, imports of nickel mattes; nickel oxide sinters and other intermediate products of nickel metallurgies contracted to $309 in 2022. Overall, imports recorded a abrupt curtailment. The smallest decline of -13.5% was in 2020.