Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria - 2023
Contents:
- Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria (CIF) - 2022
- Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria (FOB) - 2022
- Imports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria
- Exports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria
Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria (CIF) - 2022
In 2022, the average import price for steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses amounted to $145 per ton, declining by -64.4% against the previous year. Overall, the import price showed a abrupt setback. The pace of growth appeared the most rapid in 2014 an increase of 75% against the previous year. As a result, import price reached the peak level of $1,100 per ton. From 2015 to 2022, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($151 per ton), while the price for China totaled $143 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-9.5%).
Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria (FOB) - 2022
The average export price for steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses stood at $826 per ton in 2022, surging by 6.8% against the previous year. In general, the export price, however, showed a deep reduction. The pace of growth was the most pronounced in 2016 an increase of 28%. As a result, the export price attained the peak level of $2,071 per ton. From 2017 to 2022, the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Niger.
From 2014 to 2022, the rate of growth in terms of prices for Niger amounted to -10.3% per year.
Imports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria
In 2022, imports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses into Nigeria surged to 8.3K tons, rising by 238% compared with 2021 figures. In general, imports posted a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 7,261%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses skyrocketed to $1.2M in 2022. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 5,606% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.1 | 61.6 | 969 | 1,090 | 897.0% |
| South Africa | N/A | N/A | N/A | 90.6 | 0% |
| Others | N/A | 1.4 | 37.8 | 28.5 | 351.2% |
| Total | 1.1 | 62.9 | 1,007 | 1,209 | 932.0% |
Top Suppliers of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to Nigeria in 2022:
- China (7.6K tons)
- South Africa (0.6K tons)
Exports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria
In 2022, after three years of growth, there was significant decline in shipments abroad of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses, when their volume decreased by -26.8% to 966 kg. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 116% against the previous year.
In value terms, exports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses reduced notably to $798 in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 78%. As a result, the exports reached the peak of $1K, and then dropped significantly in the following year.
| Export of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 324 | 575 | 905 | 798 | 35.0% |
| Others | N/A | N/A | 116 | N/A | 0% |
| Total | 324 | 575 | 1,021 | 798 | 35.0% |
Top Export Markets for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from Nigeria in 2022:
- Niger (966.0 kg)
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