Price for Zinc; Bars, Rods, Profiles and Wire in Nigeria - 2023
Contents:
- Price for Zinc; Bars, Rods, Profiles and Wire in Nigeria (CIF) - 2022
- Imports of Zinc; Bars, Rods, Profiles and Wire in Nigeria
Price for Zinc; Bars, Rods, Profiles and Wire in Nigeria (CIF) - 2022
The average import price for zinc; bars, rods, profiles and wires stood at $3,606 per ton in 2022, jumping by 45% against the previous year. In general, the import price saw a prominent increase. The pace of growth appeared the most rapid in 2014 when the average import price increased by 70%. Over the period under review, average import prices reached the maximum at $4,940 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
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 Italy ($4,976 per ton), while the price for Germany ($851 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Zinc; Bars, Rods, Profiles and Wire in Nigeria
In 2022, the amount of zinc; bars, rods, profiles and wires imported into Nigeria declined notably to 35 tons, falling by -76.2% on the previous year's figure. Over the period under review, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 59,147% against the previous year. As a result, imports reached the peak of 148 tons, and then dropped dramatically in the following year.
In value terms, imports of zinc; bars, rods, profiles and wires fell remarkably to $126K in 2022. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 29,660% against the previous year. As a result, imports reached the peak of $366K, and then declined sharply in the following year.
| Import of Zinc; Bars, Rods, Profiles and Wire in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.4 | 0.6 | 71.2 | 42.0 | 371.8% |
| China | 1.1 | N/A | 185 | 38.9 | 228.2% |
| Italy | 2.5 | 0.3 | 43.8 | 37.8 | 147.3% |
| United Arab Emirates | 1.7 | 0.3 | 18.0 | 1.6 | -2.0% |
| Germany | 0.5 | N/A | 41.6 | 0.1 | -41.5% |
| Others | 1.2 | N/A | 6.0 | 6.1 | 71.9% |
| Total | 7.4 | 1.2 | 366 | 126 | 157.3% |
Top Suppliers of Zinc; Bars, Rods, Profiles and Wire to Nigeria in 2022:
- China (14.3 tons)
- India (10.8 tons)
- Italy (7.6 tons)
- United Arab Emirates (1.6 tons)
- Germany (0.1 tons)
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