Molybdenum; Wire Price in Nigeria - 2023
Contents:
Molybdenum; Wire Price in Nigeria (CIF) - 2022
The average molybdenum; wire import price stood at $40,600 per ton in 2022, which is down by -35% against the previous year. Overall, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 115% against the previous year. Over the period under review, average import prices hit record highs at $138,500 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
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 China ($50,500 per ton), while the price for Thailand stood at $1,000 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-4.9%).
Molybdenum; Wire Imports in Nigeria
In 2022, molybdenum; wire imports into Nigeria skyrocketed to 5 kg, growing by 25% compared with the previous year. Over the period under review, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 100%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, molybdenum; wire imports contracted sharply to $203 in 2022. In general, imports, however, saw a drastic downturn. The smallest decline of -9.7% was in 2021.
| Import of Molybdenum; Wire in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.0 | 2.0 | 250 | 202 | 486.7% |
| Thailand | N/A | N/A | N/A | 1.0 | 0% |
| Austria | 306 | N/A | N/A | N/A | 0% |
| United States | N/A | 275 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 307 | 277 | 250 | 203 | -12.9% |
Top Suppliers of Molybdenum; Wire to Nigeria in 2022:
- China (4.0 kg)
- Thailand (1.0 kg)
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