Price for Aluminium Waste and Scrap in Nigeria - 2022
Contents:
- Price for Aluminium Waste and Scrap in Nigeria (CIF) - 2022
- Price for Aluminium Waste and Scrap in Nigeria (FOB) - 2022
- Imports of Aluminium Waste and Scrap in Nigeria
- Exports of Aluminium Waste and Scrap in Nigeria
Price for Aluminium Waste and Scrap in Nigeria (CIF) - 2022
The average aluminium waste and scrap import price stood at $1,190 per ton in 2022, with a decrease of -14.2% against the previous year. Overall, the import price showed a abrupt setback. The growth pace was the most rapid in 2018 an increase of 11%. The import price peaked at $1,982 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($2,251 per ton), while the price for Hong Kong SAR ($301 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced a decline.
Price for Aluminium Waste and Scrap in Nigeria (FOB) - 2022
The average aluminium waste and scrap export price stood at $1,548 per ton in 2022, with a decrease of -13.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 30% against the previous year. The export price peaked at $1,799 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($2,151 per ton), while the average price for exports to Germany ($1,270 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Aluminium Waste and Scrap in Nigeria
In 2022, aluminium waste and scrap imports into Nigeria surged to 436 tons, with an increase of 88% on 2021. In general, imports posted a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 164%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.
In value terms, aluminium waste and scrap imports surged to $519K in 2022. Overall, imports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 178%. As a result, imports reached the peak of $717K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Aluminium Waste and Scrap in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 96.5 | 250 | 130 | 213 | 30.2% |
| Japan | 34.8 | 190 | 27.3 | 68.8 | 25.5% |
| China | 31.0 | 40.1 | 47.0 | 66.3 | 28.8% |
| South Africa | 38.7 | 84.3 | 36.8 | 50.6 | 9.3% |
| Belgium | 17.4 | 44.8 | 23.2 | 37.7 | 29.4% |
| United States | 15.6 | 35.5 | 16.2 | 23.2 | 14.1% |
| United Arab Emirates | 16.2 | 33.3 | 12.7 | 20.5 | 8.2% |
| Others | 7.7 | 39.6 | 27.8 | 39.3 | 72.2% |
| Total | 258 | 717 | 321 | 519 | 26.2% |
Top Suppliers of Aluminium Waste and Scrap to Nigeria in 2022:
- Saudi Arabia (152.2 tons)
- South Africa (93.6 tons)
- Japan (63.8 tons)
- Belgium (31.8 tons)
- China (29.5 tons)
- United Arab Emirates (24.1 tons)
- United States (19.6 tons)
Exports of Aluminium Waste and Scrap in Nigeria
In 2022, the amount of aluminium waste and scraps exported from Nigeria shrank to 15K tons, falling by -3.8% on the year before. In general, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by 16% against the previous year.
In value terms, aluminium waste and scrap exports declined sharply to $24M in 2022. Over the period under review, exports saw a pronounced decline. The pace of growth was the most pronounced in 2021 with an increase of 51%. As a result, the exports reached the peak of $29M, and then shrank sharply in the following year.
| Export of Aluminium Waste and Scrap in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 13.9 | 3.4 | 2.6 | 5.6 | -26.1% |
| Thailand | 0.4 | 2.1 | 3.2 | 3.0 | 95.7% |
| China | 0.2 | 0.8 | 3.1 | 2.9 | 143.8% |
| Spain | 1.2 | 2.5 | 3.0 | 2.8 | 32.6% |
| Germany | 1.0 | 0.4 | 2.3 | 2.3 | 32.0% |
| South Korea | 4.7 | 3.3 | 0.4 | 2.2 | -22.4% |
| Greece | 1.4 | 2.8 | 2.0 | 1.8 | 8.7% |
| Italy | 1.6 | 0.3 | 0.6 | 0.7 | -24.1% |
| United States | 0.9 | 1.3 | 0.8 | 0.7 | -8.0% |
| Turkey | 0.6 | 0.7 | 0.4 | 0.3 | -20.6% |
| Others | 1.3 | 1.5 | 10.5 | 1.5 | 4.9% |
| Total | 27.4 | 19.0 | 28.8 | 23.9 | -4.5% |
Top Export Markets for Aluminium Waste and Scrap from Nigeria in 2022:
- India (3.7K tons)
- Germany (1.8K tons)
- Spain (1.8K tons)
- Thailand (1.7K tons)
- China (1.4K tons)
- South Korea (1.4K tons)
- Greece (1.1K tons)
- United States (0.7K tons)
- Italy (0.6K tons)
- Turkey (0.2K tons)
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