Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Nigeria - 2022
Contents:
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Nigeria (CIF) - 2022
- Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Nigeria
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Nigeria (CIF) - 2022
The average import price for stainless steel bars and rods, angles, shapes and sectionses stood at $1,480 per ton in 2022, which is down by -36.9% against the previous year. Overall, the import price, however, showed slight growth. The growth pace was the most rapid in 2013 when the average import price increased by 68%. Over the period under review, average import prices hit record highs at $3,630 per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($9,317 per ton), while the price for China ($730 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.9%), while the prices for the other major suppliers experienced a decline.
Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Nigeria
In 2022, overseas purchases of stainless steel bars and rods, angles, shapes and sectionses were finally on the rise to reach 786 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a abrupt decline.
In value terms, imports of stainless steel bars and rods, angles, shapes and sectionses reached $1.2M in 2022. Overall, imports, however, faced a abrupt descent. The pace of growth was the most pronounced in 2020 when imports increased by 4.7%. As a result, imports attained the peak of $1.8M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,101 | 749 | 252 | 413 | -27.9% |
| India | 76.6 | 110 | 257 | 355 | 66.7% |
| United States | 3.9 | 133 | 107 | 113 | 207.1% |
| Germany | 80.7 | 140 | 70.2 | 55.1 | -11.9% |
| Czech Republic | N/A | 18.5 | N/A | 47.7 | 60.6% |
| Italy | 51.8 | 10.6 | 20.2 | 28.1 | -18.4% |
| Turkey | N/A | 13.8 | 56.2 | 25.8 | 36.7% |
| Sweden | 237 | 244 | 3.6 | N/A | -87.7% |
| Others | 190 | 403 | 382 | 124 | -13.3% |
| Total | 1,740 | 1,823 | 1,148 | 1,162 | -12.6% |
Top Suppliers of Stainless Steel Bars and Rods, Angles, Shapes and Sections to Nigeria in 2022:
- China (565.8 tons)
- United States (73.0 tons)
- Czech Republic (56.1 tons)
- India (38.1 tons)
- Germany (17.1 tons)
- Italy (15.7 tons)
- Turkey (13.8 tons)
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