Price for Steel Alloy Wire of Silico-Manganese Steel in Nigeria - 2023
Contents:
- Price for Steel Alloy Wire of Silico-Manganese Steel in Nigeria (CIF) - 2022
- Imports of Steel Alloy Wire of Silico-Manganese Steel in Nigeria
Price for Steel Alloy Wire of Silico-Manganese Steel in Nigeria (CIF) - 2022
The average import price for steel alloy wire of silico-manganese steels stood at $7,084 per ton in 2022, growing by 264% against the previous year. Overall, the import price saw a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
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 Germany ($14,104 per ton), while the price for China ($4,541 per ton) was amongst the lowest.
From 2014 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+51.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Steel Alloy Wire of Silico-Manganese Steel in Nigeria
In 2022, overseas purchases of steel alloy wire of silico-manganese steels decreased by -99.7% to 57 kg, falling for the second year in a row after two years of growth. Over the period under review, imports saw a dramatic decline. The growth pace was the most rapid in 2020 when imports increased by 82% against the previous year. As a result, imports reached the peak of 32 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of steel alloy wire of silico-manganese steels dropped significantly to $404 in 2022. Overall, imports recorded a sharp downturn. The pace of growth was the most pronounced in 2020 with an increase of 383% against the previous year. As a result, imports reached the peak of $56K. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Steel Alloy Wire of Silico-Manganese Steel in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.5 | 35.7 | 8.5 | 0.1 | -71.9% |
| Germany | 0.2 | 0.5 | 1.2 | N/A | 144.9% |
| United States | 0.6 | 1.2 | 2.2 | N/A | 91.5% |
| United Arab Emirates | 0.1 | 0.3 | 0.6 | N/A | 144.9% |
| Czech Republic | 1.5 | 9.9 | 5.6 | N/A | 93.2% |
| Italy | 0.5 | 0.7 | 1.2 | N/A | 54.9% |
| Turkey | 1.4 | 3.6 | 6.6 | N/A | 117.1% |
| Others | 2.7 | 4.2 | 6.6 | 0.1 | -66.7% |
| Total | 11.6 | 56.0 | 32.7 | 0.4 | -67.5% |
Top Suppliers of Steel Alloy Wire of Silico-Manganese Steel to Nigeria in 2022:
- China (32.0 kg)
- Turkey (7.0 kg)
- United States (5.0 kg)
- Italy (4.0 kg)
- Czech Republic (3.0 kg)
- United Arab Emirates (2.0 kg)
- Germany (2.0 kg)
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